<!DOCTYPE lewis SYSTEM "lewis.dtd">
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13522" NEWID="8001">
<DATE>20-MAR-1987 16:54:10.55</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;f2479&#31;reute
r f BC-GANTOS-INC-&lt;GTOS>-4TH   03-20 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>GANTOS INC &lt;GTOS> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    GRAND RAPIDS, MICH., March 20 -
    </DATELINE><BODY>Shr 43 cts vs 37 cts
    Net 2,276,000 vs 1,674,000
    Revs 32.6 mln vs 24.4 mln
    Year
    Shr 90 cts vs 69 cts
    Net 4,508,000 vs 3,096,000
    Revs 101.0 mln vs 76.9 mln
    Avg shrs 5,029,000 vs 4,464,000
    NOTE: 1986 fiscal year ended Feb 1, 1986
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13523" NEWID="8002">
<DATE>20-MAR-1987 16:57:13.73</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2484&#31;reute
f f BC-******CHEMLAWN-CORP,   03-20 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CHEMLAWN CORP, ECHOLAB INC SIGN DEFINITIVE MERGER AGREEMENT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13524" NEWID="8003">
<DATE>20-MAR-1987 16:57:26.14</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>oilseed</D><D>soybean</D><D>veg-oil</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2485&#31;reute
r f BC-LDC-FOOD-AID-NEEDS-DE   03-20 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>LDC FOOD AID NEEDS DECLINE IN 1986/87 - USDA</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>Total food aid needs in 69 of the
least developed countries declined in 1986/87, as requirments
fell in many countries in Africa, the Middle East and Asia, the
U.S. Agriculture Department said.
    In a summary of its World Agriculture Report, the
department said grain production in sub-Saharan Africa was a
record high in 1986, with gains in almost every country.
    However, food needs in Central America rose, worsened by
drought-reduced crops and civil strife.
    Record wheat production in 1986/87 is pushing global wheat
consumption for food to a new high, and higher yielding
varieties have been particularly effective where spring wheat
is a common crop, it said.
    However, may developing countries in tropical climates,
such as Sub-Saharan Africa, Southeast Asia, and Central
America, are not well adapted for wheat production, and
improved varieties are not the answer to rising food needs, the
department said.
    World per capita consumption of vegetable oil will rise in
1986/87 for the third straight year.
    Soybean oil constitutes almost 30 pct of vegetable oil
consumption, while palm oil is the most traded, the department
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13525" NEWID="8004">
<DATE>20-MAR-1987 17:00:29.12</DATE>
<TOPICS><D>sugar</D><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 T
&#22;&#22;&#1;f2491&#31;reute
b f BC-/U.S.-SUGAR-PROGRAM-C   03-20 0130</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SUGAR PROGRAM CUT SENT TO CONGRESS BY USDA</TITLE>
<DATELINE>    WASHINGTON, MARCH 20 - </DATELINE><BODY>The U.S. Agriculture Department 
formally transmitted to Congress a long-awaited proposal to
drastically slash the sugar loan rate and compensate growers
for the cut with targeted income payments.
    In a letter to the Congressional leadership accompanying
the "Sugar Program Improvements Act of 1987", Peter Myers,
Deputy Agriculture Secretary, said the Reagan administration
wants the sugar loan rate cut to 12 cents per pound beginning
with the 1987 crop, down from 18 cts now.
    Sugarcane and beet growers would be compensated by the
government for the price support cut with targeted income
payments over the four years 1988 to 1991. The payments would
cost an estimated 1.1 billion dlrs, Myers said.
    The administration sugar proposal is expected to be
introduced in the House of Representatives next week by Rep.
John Porter, R-Ill.
    Congressional sources said the program cut is so drastic it
is unlikely to be adopted in either the House or Senate because
politically-influential sugar and corn growers
and high fructose corn syrup producers will strongly resist.
    The direct payment plan outlined by the administration 
targets subsidies to small cane and beet growers and gradually
lowers payments over four years. It also excludes from payment
any output exceeding 20,000 short tons raw sugar per grower.
    For example, on the first 350 tons of production, a grower
would receive 6 cts per lb in fiscal 1988, 4.5 cts in 1989, 3
cts in 1990 and 1.5 cts in 1991.
    The income payments would be based on the amount of
commercially recoverable sugar produced by a farmer in the 1985
or 1986 crop years, whichever is less, USDA said.
    Myers said the administration is proposing drastic changes
in the sugar program because the current high price support is
causing adverse trends in the sugar industry.
    He said the current program has artificially stimulated
domestic sugar and corn sweetener production which has allowed
corn sweeteners to make market inroads.
    U.S. sugar consumption has declined which has resulted in a
"progressive contraction" of the sugar import quota to only one
mln short tons this year, he said. This has hurt cane sugar
refiners who rely on imported sugar processing.
    Furthermore, USDA said the current sugar program gives
overseas manufacturers of sugar-containing products a
competitive advantage. The result has been higher imports of
sugar-containing products and a flight of U.S. processing
facilities overseas to take advantage of cheaper sugar.
    USDA also said the current program imposes a heavy cost on
U.S. consumers and industrial users. In fiscal 1987, USDA said
consumers are paying nearly two billion dlrs more than
necessary for sugar.
    "Enactment of this bill will reduce the price gap between
sweeteners and help to correct or stabilize the many adverse
impacts and trends which the sugar industry is currently
facing," Myers said.
    The following table lists the rate of payments, in cts per
lb, to growers and the quantity covered, in short tons
recoverable raw sugar, under the administration's proposal to
compensate sugar growers with targeted payments.
    QUANTITY            1988     1989      1990      1991
First 350 tons         6.000    4.500     3.000     1.500
Over 350 to 700        5.750    4.313     2.875     1.438
Over 700 to 1,000      5.500    4.125     2.750     1.375
Over 1,000 to 1,500    5.000    3.750     2.500     1.250
Over 1,500 to 3,000    4.500    3.375     2.250     1.125
Over 3,000 to 6,000    3.500    2.625     1.750     0.875
Over 6,000 to 10,000   2.250    1.688     1.125     0.563
Over 10,000 to 20,000  0.500    0.375     0.250     0.125
Over 20,000 tons        nil      nil       nil       nil 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13526" NEWID="8005">
<DATE>20-MAR-1987 17:00:52.39</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;f2494&#31;reute
d f BC-oink   03-20 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;OE INC> 4TH QTR NET</TITLE>
<DATELINE>    MONTREAL, March 20 -
    </DATELINE><BODY>Shr 24 cts vs 26 cts
    Net 1.5 mln vs 1.3 mln
    Revs 40.5 mln vs 33.5 mln
    Year
    Shr 80 cts vs 82 cts
    Net 4.9 mln vs 4.1 mln
    Revs 143.0 mln vs 121.1 mln
    Avg shrs 6.1 mln vs 5.0 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13527" NEWID="8006">
<DATE>20-MAR-1987 17:01:28.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2497&#31;reute
r f BC-TEXAS-INSTRUMENTS-&lt;TX   03-20 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS INSTRUMENTS &lt;TXN> BEGINS BUILDING PLANT</TITLE>
<DATELINE>    DALLAS, March 20 - </DATELINE><BODY>Texas Instruments Inc said construction
will begin in April on a new plant near Denton, Texas, on 193
acres owned by the company.
    It said the plant will initially employ between 1,000 and
1,500 people, and will be used by its Defense Systems and
Electronics Group for producing electronic equipemnt. The plant
is expected to be operational in late 1988.
    Separately, the company said it leased about 185,000 square
feet of a complex in Texas for its Defense Systems group. It
plans to transfer about 700 employees to work at the site by
the third quarter of 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13528" NEWID="8007">
<DATE>20-MAR-1987 17:06:31.28</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;f2510&#31;reute
w f BC-VMS-MORTGAGE-LP-&lt;VMLP   03-20 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>VMS MORTGAGE LP &lt;VMLPZ> MONTHLY CASH PAYOUT</TITLE>
<DATELINE>    CHICAGO, March 20 - </DATELINE><BODY>VMS Mortgage L.P. said it declared a
regular monthly cash distribution of nine cts a depositary unit
for the month of March, payable May 14, record April One.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13529" NEWID="8008">
<DATE>20-MAR-1987 17:06:47.92</DATE>
<TOPICS><D>livestock</D><D>pork-belly</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f2512&#31;reute
u f BC-LITTLE-EFFECT-SEEN-FR   03-20 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>LITTLE EFFECT SEEN FROM COLD STORAGE REPORT</TITLE>
<DATELINE>    CHICAGO, March 20 - </DATELINE><BODY>The USDA monthly cold storage report
for meats is expected to have little, if any, effect on
livestock and meat futures at the Chicago Mercantile Exchange
Monday and daily fundamentals will likely provide the bulk of
direction, livestock analysts said.
    The increase of 66.4 mln lbs in total poultry offsets the
22.6 mln lbs decline in total red meats. Fundamentals may
provide most of the direction in futures on Monday, they said.
    "I think the market is going to be looking at some other
things and accentuate whatever the action of cash markets might
be early next week," Jerry Gidel, livestock analyst for GH
Miller, said.
    Shearson Lehman livestock analyst Chuck Levitt said futures
will be in the shadow of a little larger seasonal hog
marketings pace next week. Also, Easter ham business was
completed this week and there may be less aggressive interest
for pork in general next week.
    "We needed some help from the cold storage report to avert
a possible setback next week in the pork complex," Levitt said.
    Analysts agreed with CME floor traders and called the belly
figure neutral to slightly negative. Although belly stocks were
down 33 pct from last year, they exceeded the average
expectation and actually showed a lighter than expected decline
from last month due to an adjustment to last month's holdings,
they said.
    However, analysts noted that the amount of bellies put in
storage has been light since the beginning of March and this is
a potentially bullish situation.
    Glenn Grimes, agronomist at the University of Missouri,
said, "I would not look for (belly) storage during the next
month or two to be heavier than a year ago - I think it will be
less."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13530" NEWID="8009">
<DATE>20-MAR-1987 17:07:44.99</DATE>
<TOPICS><D>ship</D><D>grain</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2515&#31;reute
h f BC-SEAWAY (PIX-EXPECTED)  03-20 0130</UNKNOWN>
<TEXT>&#2;
<TITLE>STRIKE THREAT, LOWER TRAFFIC MAR SEAWAY OPENING</TITLE>
<AUTHOR>    By Jane Arraf, Reuters</AUTHOR>
<DATELINE>    MONTREAL, March 20, Reuter - </DATELINE><BODY>The St. Lawrence Seaway, set
to reopen March 31 after the winter, faces another tough year
because of depressed traffic levels and the possibility of the
first strike in 20 years on the Great Lakes, seaway officials
said.
    Depressed grain exports, rising costs, and competing modes
of transportation are all expected to result in only a marginal
increase over last year's traffic levels -- and revenues -- on
the 2,300 mile waterway, officials said.
    In 1986, a season that ran from April 3 to December 27, the
seaway moved 37.6 mln metric tons of freight between Montreal
and Lake Ontario and 41.6 mln tons on the Welland Canal,
linking Lake Erie and Lake Ontario.
    By comparison, in 1985 about 37 mln tons of cargo traveled
through the Montreal-Lake Ontario section and 42 mln through
the eight-lock canal.
    The waterway is expected to lose 9-10 mln Canadian dlrs
this year, about the same as the estimated deficit for fiscal
1986-87 ending March 31, said William Blair, an executive
member of Canada's St Lawrence Seaway Authority.
    The seaway moves about one-half of Canada's exported grain.
Those exports of the single most important commodity carried on
the waterway have been depressed by world surpluses.
    The Seafarers' International Union, which represents about
2,300 workers on the Great Lakes and the ocean coasts, has said
it will likely go on strike this spring to protest employers'
demands for wage rollbacks and other concessions.
    "It's 99.9 pct (certain)--I guarantee you a strike," Roman
Gralewicz, head of the Seafarers' Canadian branch, has said.
    The Canadian government has called in a labor conciliator
to try to hammer out a contract agreement between the two
sides. The seaway authority said a walkout tying up ships on
the Great Lakes would badly hurt traffic.
    "We haven't had a strike on the seaway for years...a
prolonged strike would have a disasterous effect," Seaway
Authority spokeswoman Gay Hemsley said.
    "These are the heaviest contract talks in the history of the
St Lawrence Seaway," George Miller, vice-president of the
Canadian Lake Carriers Association, an association of major
Canadian shipping companies, said recently.
    The workers' current contract expires May 31. The
association said it is asking for a five per cent cut in wages
for the next three years, reduced crew levels and the power to
restructure crew dispatching.
    The association said its members recorded about a 6 mln dlrs
(U.S.) loss in each of 1985 and 1986 due to lower traffic and
freight rates and increasing competition. The seaway said 1985
was its worst year in two decades.
    Hemsley said the seaway authority plans to raise tolls on
the Welland Canal by eight pct this year, compared to last
year's 15 pct rise, while maintaining a freeze on tolls
throughout the rest of the waterway.
    Canada is responsible for 13 of the seaway's 15 locks and
about 85 pct of its revenues and maintenance costs.
    "We may see and hope for a steady upward climb...but we
won't see a major increase for a number of years," Hemsley said.
    A Canada-U.S. delegation to promote the seaway to shippers
in Western Europe should result in some increased traffic this
season but the full benefits won't be felt for several years,
Blair said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13531" NEWID="8010">
<DATE>20-MAR-1987 17:07:50.76</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;f2516&#31;reute
u f BC-CHEMLAWN-&lt;CHEM>,-ECOL   03-20 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEMLAWN &lt;CHEM>, ECOLAB &lt;ECON> IN MERGER PACT</TITLE>
<DATELINE>    COLUMBUS, Ohio, March 20 - </DATELINE><BODY>Chemlawn Corp and Ecolab Inc
said they signed a definitive merger agreement under which
Ecolab will buy all outstanding Chemlawn common stock for 36.50
dlrs a share in cash, for a total of about 370 mln dlrs.
    Under terms of the agreement, Chemlawn said it rescinded
its previously announced rights dividend plan.
    Chemlawn previously rejected a 27 dlr a share offer from
Waste Management Inc &lt;WMX>.
    Yesterday, the Oak Brook, Ill.-based waste disposal company
said it was prepared to offer 33 dlrs a share, or about 330 mln
dlrs, for Chemlawn, a lawn-care company.
    Chemlawn had said last week that it was negotiating with
other possible suitors, which it did not identify.
    A Chemlawn spokesman said further details on the merger
would be issued later.
    Ecolab is a maker of commercial laundry detergent based in
St. Paul, Minn. For its first six months ended December 31, the
company earned 20.4 mln dlrs, or 76 cts a share, on sales of
421.8 mln dlrs.
    Officials at Waste Management could not be reached for
immediate comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13532" NEWID="8011">
<DATE>20-MAR-1987 17:10:14.07</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2524&#31;reute
b f BC-******LILCO-REVISES-1   03-20 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LILCO REVISES 1986 NET TO INCLUDE 16 MLN DLR LOSS PROVISION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13533" NEWID="8012">
<DATE>20-MAR-1987 17:12:06.51</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;f2527&#31;reute
h f BC-FALCON-CABLE-&lt;FAL>-SE   03-20 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>FALCON CABLE &lt;FAL> SETS INITIAL DISTRIBUTION</TITLE>
<DATELINE>    PASADENA, Calif., March 20 - </DATELINE><BODY>Falcon Cable Systems Co said
its set an initial quarterly cash distribution of 53.75 cts per
unit, payable May 15 to unitholders of record March 31.
    The partnership made its initial public offering in
December, 1986.
    Falcon said it expects to pay cash distributions to limited
partners at an annual rate of 2.15 dlrs per unit, through
December 31, 1989.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13534" NEWID="8013">
<DATE>20-MAR-1987 17:12:35.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2530&#31;reute
u f BC-GENERAL-DYNAMICS-&lt;GD>   03-20 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL DYNAMICS &lt;GD> GETS 67.9 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>The Electric Boat Division of
General Dynamics Corp is being awarded a 67.9 mln dlr
modification to a Navy contract for architectural, engineering
and hardware development work for a submarine improvement
program, the Defense Department said.
    It said the work is expected to be completed September 30,
1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13535" NEWID="8014">
<DATE>20-MAR-1987 17:15:01.04</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;f2533&#31;reute
r f BC-SONAT-&lt;SNT>-UNIT-FILE   03-20 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SONAT &lt;SNT> UNIT FILES FOR DEBENTURE OFFERING</TITLE>
<DATELINE>    NEW YORK, March 20 - </DATELINE><BODY>Southern Natural Gas Co, a unit of
Sonat Inc, said it filed with the Securities and Exchange
Commission a registration statement covering a 100 mln dlr
issue of debentures due 1999.
    Proceeds will be used, together with funds from the
company's operations, to redeem Southern Natural's 15 pct
sinking fund debentures of 1991.
    The company named Goldman, Sachs and Co, Lazard Freres and
Co and Merrill Lynch Capital Markets as managing underwriters
of the offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13536" NEWID="8015">
<DATE>20-MAR-1987 17:16:21.60</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;f2536&#31;reute
r f BC-BIDS-AWARDED-FOR-ELK   03-20 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BIDS AWARDED FOR ELK HILLS CRUDE OIL</TITLE>
<DATELINE>    LOS ANGELES, March 20 - </DATELINE><BODY>The U.S. Department of Energy said
it has awarded bids for about 90,000 barrels per day, bpd, of
crude oil from the Elk Hills Naval Petroleum Reserve in
California. The contract period runs from April one through
July one, the DOE said.
    Successful bidders, the amount of crude oil and the price
per bbl according to the DOE are as follows - 
    Texaco Inc's &lt;TX> Texaco Trading and Transport 15,000 bpd
at 15.79 dlrs and 2,200 bpd at 15.19 dlrs, Beacon Oil Co 7,000
bpd at 15.66 dlrs and 2,500 bpd at 16.04 dlrs, Golden West
Refining 8,110 bpd at 15.42 dlrs.
    Successful bidders, the amount of oil and price per bbl,
according to the DOE continue as follows -
    Chevron's &lt;CHV> Chevron USA Inc 3,000 bpd at 14.51 dlrs and
4,000 bpd at 14.61 dlrs, Chevron International Oil Co 2,600 bpd
at 14.41 dlrs and 2,800 bpd at 14.51 dlrs, Newhall Refining Co
6,000 bpd at 15.82 dlrs, Caljet Inc 4,000 bpd at 15.32 dlrs,
Casey Co 4,000 bpd at 15.45 dlrs.
    Also, Cryssen Refining Inc 4,000 bpd at 15.47 dlrs,
Edgington Oil Co 4,000 bpd at 15.54 dlrs, Sound Refining Inc
3,100 bpd at 15.51 dlrs, Atlantic Richfield Co &lt;ARC> 3,000 bpd
at 15.75 dlrs.
    Successful bidders, the amount of crude oil and the price
per bbl according to the DOE continue as follows -
    Orkin Inc 2,679 bpd at 15.24 dlrs, Lunday-Thagard Co 2,511
bpd at 15.27 dlrs, Golden Eagle Refining 2,500 bpd at 15.37
dlrs, MacMillan Ring-Free Oil Co 1,000 bpd at 15.81 dlrs, 1,000
bpd at 15.71 dlrs and 230 bpd at 16.02 dlrs, Mock Resources
2,000 bpd at 15.76 dlrs, Petro-Diamond 2,000 bpd at 15.46 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13537" NEWID="8016">
<DATE>20-MAR-1987 17:20:28.92</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;f2544&#31;reute
s f BC-MONTGOMERY-STREET-INC   03-20 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>MONTGOMERY STREET INCOME &lt;MTS> MONTHLY DIVIDEND</TITLE>
<DATELINE>    SAN FRANCISCO, March 20 -
    </DATELINE><BODY>Mthly div 15 cts vs 15 cts
    Pay April 15
    Record April 1
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13538" NEWID="8017">
<DATE>20-MAR-1987 17:20:54.85</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;f2545&#31;reute
r f BC-sullivan-mines-inc   03-20 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;SULLIVAN MINES INC> YEAR LOSS</TITLE>
<DATELINE>    MONTREAL, March 20 -
    </DATELINE><BODY>Oper shr loss 12 cts vs profit four cts
    Oper loss 1,069,000 vs profit 339,000
    Revs 12.8 mln vs 10.9 mln
    Note: 1986 shr and net exclude extraordinary gain of
382,000 dlrs or four cts share. 1985 shr and net exclude
extraordinary gain of 183,000 dlrs or two cts share
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13539" NEWID="8018">
<DATE>20-MAR-1987 17:21:38.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2547&#31;reute
u f BC-GRUMMAN-&lt;GQ>-GETS-109   03-20 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>GRUMMAN &lt;GQ> GETS 109.1 MLN DLR NAVY CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>Grumman Aerospace Corp is being
awarded a 109.1 mln dlr increment of funds to a Navy contract
for 12 EA-6B Prowler Electronic Warfare aircraft, the Defense
Department said.
    It said the work is expected to be completed in July 1989.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13540" NEWID="8019">
<DATE>20-MAR-1987 17:23:12.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2549&#31;reute
r f BC-MORTON-THIOKOL-&lt;MTI>   03-20 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>MORTON THIOKOL &lt;MTI> GETS 61.4 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>Morton Thiokol Inc's Wasatch
Operations is being awarded a 61.4 mln dlr contract
modification finalizing a previously awarded contract for
missile rocket motors for Terrier, Tarter and Aegis ships, the
Defense Department said.
    It said the work is expected to be completed in October 
1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13541" NEWID="8020">
<DATE>20-MAR-1987 17:26:53.43</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;f2560&#31;reute
u f BC-CYCLOPS   03-20 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTMENT FIRM HAS 7.1 PCT OF CYCLOPS &lt;CYL&lt;</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>Halcyon Investments, a New York risk
arbitrage and securities dealing partnership, told the
Securities and Exchange Commission it has acquired 288,000
shares of Cyclops Corp, or 7.1 pct of the total outstanding.
    Halcyon said it bought the stake for 26.1 mln dlrs as part
of its ordinary risk arbitrage and securities trading business.
Other than that, the firm said there was no specific purpose in
its purchases.
    Halcyon said it might buy more stock or sell some or all of
its current stake. It said it bought the bulk of its stake
between Feb 6 and March 13.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13542" NEWID="8021">
<DATE>20-MAR-1987 17:27:19.61</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A
&#22;&#22;&#1;f2561&#31;reute
d f BC-chrysler-credit-canad   03-20 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER'S &lt;C> CREDIT CANADA PLACED ON CREDITWATCH</TITLE>
<DATELINE>    Montreal, March 20 - </DATELINE><BODY>Canadian Bond Rating Service said it
placed Chrysler Credit Canada Ltd, a subsidiary of Chrysler
Corp &lt;C>, on creditwatch until all financial details concerning
the proposed acquisition of American Motors Corp &lt;AMO> are
finalized.
    The creditwatch affects Chrysler Credit Canada's short term
notes, guaranteed notes, debentures and the recently completed
75 mln dlr 9.25 Eurobond issue due April 15, 1993.
    Canadian Bond Rating Service said that, based on facts
currently available on the proposed transaction, it does not
anticipate the necessity of a downgrade.
    Canadian Bond Rating Service said Chrysler Credit Canada
short term notes are now rated A-2 (high) and guaranteed notes
and debentures are rated B plus plus (high).
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13543" NEWID="8022">
<DATE>20-MAR-1987 17:27:55.93</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;f2565&#31;reute
u f BC-LILCO-&lt;LIL>-REVISES-1   03-20 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>LILCO &lt;LIL> REVISES 1986 NET TO INCLUDE LOSS</TITLE>
<DATELINE>    HICKSVILLE, N.Y., March 20 - </DATELINE><BODY>Long Island Lighting Co said
it revised its preliminary 1986 net income to include a 16 mln
dlrs after tax provision for its investment in the Jamesport
Nuclear units.
    Due to the provision, it said its revised 1986 net income
was 316.7 mln dlrs or 2.13 dlrs per share after deducting for
preferred stock dividend requirements, which were not paid in
either 1986 or 1985.
    It had earlier reported 1986 income of 332.7 mln dlrs or
2.28 dlrs per share.
    LILCO also said its board authorized contracts for its 
corporate officers calling for payment of one year's salary,
and continuation of insurance and retirement benefits if the
company changes hands and these officers lose their jobs.
    LILCO said none of these contracts will result in
additional costs to its customers.
    Lilco said the downward revision in its 1986 earnings is a
reserve established to reflect a settlement agreement with the
staff of New York State's Public Service Commission respecting
the utility's spending on a nuclear power station planned for,
but never built at, Jamestown, N.Y.
    The company declined to detail the settlement, explaining
the settlement has not been approved by the commission. Lilco
was seeking to include costs totaling 118 mln dlrs for the
abandoned nuclear power plant project in its rate base, a
spokeswoman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13544" NEWID="8023">
<DATE>20-MAR-1987 17:29:58.63</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;f2571&#31;reute
d f BC-ROGERS-&lt;ROG>-ADOPTS-R   03-20 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ROGERS &lt;ROG> ADOPTS RIGHTS PLAN</TITLE>
<DATELINE>    ROGERS, Conn., March 20 - </DATELINE><BODY>Rogers Corp said its board
approved a shareholder rights plan designed to protect its
shareholders in the event of an attempted hostile takeover.
    Rogers said the plan is not being adopted in response to
any specific takeover attempt.
    Under the plan, shareholders may buy one share of common
stock at 65 dlrs for each share held. The rights will be
exercisable only if a person or group acquires 20 pct or more
of Rogers' shares or announces an offer for 30 pct or more.
    The dividend distribution will be made March 30 to holders
or record on that date.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13545" NEWID="8024">
<DATE>20-MAR-1987 17:32:18.21</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;f2575&#31;reute
u f BC-WALL-STREET-SURVIVES   03-20 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>WALL STREET SURVIVES TRIPLE EXPIRATIONS</TITLE>
<AUTHOR>    By Cal Mankowski, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 20 -  </DATELINE><BODY>The four-times-a-year "triple
witching hour" did not jolt Wall Street as much as it has in
the past.
    Market averages finished sharply higher as stock index
futures, index options and options on individual stocks expired
simultaenously. Some analysts warned part of the gain may be
retraced next week. But there were signs Wall Street is getting
used to the phenomeon which causes a huge burst of activity in
the final minutes. Officials of the New York Stock Exchange
said the day went smoothly and efficiently.
    "This has been one of the few times that the consensus has
been right," said Jim Creber, trader at Miller, Tabak, Hirsch
and Co.
    He expects a "follow-through" Monday and Tuesday to the
advance which lifted the Dow Jones Industrial Average 34 points
for the day and 75 points for the entire week.
    Creber, whose firm was one of the first to get involved in
arbitrage activity involving index futures and options, said
the general trend of the market has been upward for months.
"Every time the market comes in, somebody comes along with more
money," he said.
    He said investors adding to Individual Retirement Accounts
prior to a mid-April tax deadline and buying from Japanese
investors are apparently helping push stocks higher.
    Ron Feinstein, an analyst with Dean Witter Reynolds Inc,
said reports of heavy Japanese buying, just prior to the end of
the fiscal year in Japan, fueled bullish sentiment.
    He said investors who had long positions in stocks hedged
with short positions in index futures rolled the expiring March
futures over into June contracts. But he added different
players with other goals also were active and there was no
simple explanation of the market's gyrations.
    For example, Feinstein noted the June contract for the June
Standard and Poor's 500 stock index future hit 300 about 15
minutes prior to the close of NYSE trading. In 12 minutes, the
contracted dipped to 297.50. "That could have been a wave of
selling from institutional people making a roll," he said.
    It was the first time a nearby contract of the S and P 500
hit 300. The cash index closed at a record 298.17. "It looks
like the market is going to continue to go higher," he said.
    "Triple expirations didn't really mean that much, it was a
strong day for stocks," said Steve Chronowitz of Smith Barney,
Harris Upham and Co.
    Chronowitz said the stock market has been underpinned by
"good solid buying interest" which will cushion any pullback.
    Other investors who were long futures and short stocks
bought stocks on the close today instead of rolling over, said
Mark Zurack of Goldman, Sachs and Co. He cautioned against
"over-dramatizing" the day's activity, which said was more a
reflection of fundamental strength in the markets.
    Leigh Stevens of PaineWebber Group Inc said what he saw was
mostly covering of short positions in stocks as index options
and individual options expired. He said there could be a
decline early next week in the stock market.
    "It looked like it worked well today," said Howard Kramer,
asssistant director of market regulation for the Securities and
Exchange Commission. But he said all of the data will have to
be analyzed next week.
    He said there was relatively little commotion at the close,
with about 50 mln shares changing hands in the final minute
compared to 85 mln in the triple expirations three months
earlier. He noted the Dow industrials jumped about 12 points in
the closing minutes, a modest move for a 2333-point index.
    Kramer pointed out an SEC-NYSE measure to curb volatility,
disclosure of "market-on-close" orders in 50 major stocks 30
minutes prior to the end of trading, showed imbalances of
modest proportions. The disclosures are aimed at evening out
volatility by attracting orders on the opposite side of the
imbalance.
    The data showed more buy orders than sell orders for 47
stocks, a preponderance of sell orders for only one stock, and
no significant imbalance for two stocks. The NYSE had tightened
a rule governing what type of market on close orders can be
accepted in the final half hour.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13546" NEWID="8025">
<DATE>20-MAR-1987 17:39:14.71</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;f2586&#31;reute
s f BC-EASTGROUP-PROPERTIES   03-20 0037</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
EASTGROUP PROPERTIES &lt;EGP> DIVIDEND
    JACKSON, MISS., May 20
    Qtly div 65 cts vs 65 cts prior
    Payable APril 22
    REcord April 10
    NOTE:Company paid 30 cts special dividend along with prior
quarter's dividend
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13547" NEWID="8026">
<DATE>20-MAR-1987 17:40:10.54</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;f2588&#31;reute
r f BC-SUNBELT-NURSERY-GROUP   03-20 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>SUNBELT NURSERY GROUP INC &lt;SBN> 2ND QTR FEB 28</TITLE>
<DATELINE>    FORT WORTH, Texas, March 20 -
    </DATELINE><BODY>Shr loss 40 cts vs loss 29 cts
    Net loss 1.5 mln vs loss 1.1 mln
    Revs 28.9 mln vs 28.5 mln
    Six months
    Shr loss 99 cts vs loss 69 cts
    Net loss 3.7 mln vs loss 2.6 mln
    Revs 52.5 mln vs 51.7 mln
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13548" NEWID="8027">
<DATE>20-MAR-1987 17:41:26.30</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;f2590&#31;reute
d f BC-MARCOM-TELECOMMUNICAT   03-20 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>MARCOM TELECOMMUNICATIONS &lt;MRCM> 2ND QTR JAN 31</TITLE>
<DATELINE>    WEST PALM BEACH, Fla., March 20 -
    </DATELINE><BODY>Oper shr loss five cts vs loss six cts
    Oper net loss 157,688 vs loss 96,573
    Revs 1,094,331 vs 1,378,973
    Avg shrs 3,315,654 vs 1,661,023
    Six mths
    Oper shr loss seven cts vs loss 24 cts
    Oper net loss 198,555 vs loss 394,589
    Net 2,243,377 vs 2,440,850
    Avg shrs 2,796,848 vs 1,637,592
    NOTE: Current year 2nd qtr and six mths excludes a loss
10,767 dlrs for discontinued operations.
    Prior year 2nd qtr and six mths excludes a loss of 54,686
dlrs and 112,565 dlrs for discontinued operations.
    Full name of company is Marcom Telecommunications Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13549" NEWID="8028">
<DATE>20-MAR-1987 17:43:13.77</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;f2600&#31;reute
s f BC-EASTPARK-REALTY-TRUST   03-20 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>EASTPARK REALTY TRUST &lt;ERT> QTLY DIV</TITLE>
<DATELINE>    JACKSON, MISS, March 20 -
    </DATELINE><BODY>Qlty div 25 cts vs 25 cts prior
    Payable April 22
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13550" NEWID="8029">
<DATE>20-MAR-1987 17:44:23.79</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>canada</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2604&#31;reute
h f AM-TRADE   03-20 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA'S CLARK SEES TRADE AS MOST URGENT PROBLEM</TITLE>
<AUTHOR>    By Dean Lokken, Reuters</AUTHOR>
<DATELINE>    SAN FRANCISCO, March 20 - </DATELINE><BODY>Trade is the most urgent problem
facing U.S.-Canadian relations because of a pressing need to
reach a new bilateral pact within the coming months, Joe Clark,
Canadian secretary of state for external affairs, said.
    Negotiators for the two countries have been meeting for
more than a year in an effort to work out an agreement.
    "The most urgent problem now is the trade question because
that has to be decided within the next 10 months," Clark told
the Commonwealth Club of California. "We have a fast track
authority from your Congress for approval or rejection of
whatever the negotiators achieve."
    Clark said that, as a practical matter, an initial
agreement must be reached by late September or early October.
    He listed environmental questions, particularly acid rain,
and defense as the second and third most important bilateral
issues facing Ottawa and Washington.
    On Wednesday, President Reagan announced that he will seek
2.5 billion dlrs from Congress to address the acid rain
problem. Some interpreted the move as a goodwill gesture in
advance of his annual meeting, on April 5-6 in Ottawa, with
Prime Minister Brian Mulroney.
    In a question-and-answer session with the public affairs
group, Clark said that the two countries must find better
mechanisms for resolving their trade disputes.
    "This rash of countervailing actions, where we acted on
corn and you acted on soft wood and we both said they were
quasijudicial -- the dispute resolution mechanisims in place
now are not working adequately in either of our interests," he
said.
    Ottawa also is seeking to change some of Washington's rules
on government procurement that penalize Canadian businesses, he
said.
    "There are a number of Canadian companies that, in order to
secure substantial contracts in the United States, have had to
move their head offices out of our country into your country
because you have national procurement requirements," he said.
    In turn, he added, the United States would like to change
some of the procurement requirements that exist at the
provincial government level in Canada.
    Clark declined to forecast the outcome of the discussions.
    "What will come out of it remains for the negotiators, in
the first instance, to propose, and then governments and
congresses will have judge," he said.
    In his prepared remarks, Clark said that the United States
has tended to take Canada for granted, although it exports to
its northern neighbor more than twice what it exports to Japan.
"Yet you bought almost 10 per cent more from Japan last year
than you bought from Canada," he said. REUTER
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13551" NEWID="8030">
<DATE>20-MAR-1987 17:45:15.30</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;f2605&#31;reute
h f BC-ESSEX-CORP-&lt;ESEX>-YEA   03-20 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>ESSEX CORP &lt;ESEX> YEAR END LOSS</TITLE>
<DATELINE>    ALEXANDRIA, Va., March 20 -
    </DATELINE><BODY>Oper shr loss 11 cts vs profit 33 cts
    Oper net loss 132,000 vs profit 408,000
    Revs 25.2 mln vs 23.0 mln
    NOTE: 1986 and 1985 oper net excludes a loss of 636,000
dlrs or 52 cts per share and a loss of 994,000 dlrs or 80 cts
per share for discontinued operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13552" NEWID="8031">
<DATE>20-MAR-1987 17:45:24.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2606&#31;reute
r f BC-DELTA-   03-20 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. LAUNCHES INDONESIAN COMMUNICATIONS SATELLITE</TITLE>
<DATELINE>    CAPE CANAVERAL, March 20 - </DATELINE><BODY>NASA launched an Indonesian
communications satellite aboard a Delta rocket, marking the
first international payload to be put into orbit since the
Challenger disaster more than a year ago.
    The 43 mln dlr satellite, the Palapa B2-P, was launched as
the result of an agreement reached last year between President
Ronald Reagan and Indonesia's President Suharto when they met
on Bali.
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13553" NEWID="8032">
<DATE>20-MAR-1987 17:50:45.11</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 Y
&#22;&#22;&#1;f2617&#31;reute
r f BC-sulpetro   03-20 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;SULPETRO  LTD> YEAR OCT 31 LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, March 20 -
    </DATELINE><BODY>Shr loss 19.22 dlrs vs loss 3.90 dlrs
    Net loss 276.4 mln vs loss 45.6 mln
    Revs 85.4 mln vs 113.3 mln
    NOTE: Shr results after deducting preferred share dividends
of 13.1 mln dlrs in both periods.
    Current loss includes a 125 mln dlr writedown of oil and
gas properties, a 67 mln dlr writeoff of deferred charges, a
22.5 mln dlr loss on disposal of U.K. properties, a 21.2 mln
dlr equity loss from affiliate Sulbath Exploration ltd and a
4.6 mln dlr loss on other investments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13554" NEWID="8033">
<DATE>20-MAR-1987 17:51:40.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2619&#31;reute
d f BC-alberta-budget-sets   03-20 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>ALBERTA BUDGET SETS TAX INCREASE, LOWER DEFICIT</TITLE>
<DATELINE>    EDMONTON, Alberta, March 20 - </DATELINE><BODY>The Alberta provincial
government will increase its general corporate tax rate on
April 1 to 15 pct from 11 pct under its 1987-88 budget
announced today, provincial treasurer Dick Johnston said.
    The budget forecasts the 1987-88 provincial deficit to be
1.90 billion dlrs, compared to a forecast deficit of 3.30
billion dlrs for fiscal 1987, which ends March 31, Johnston
said.
    The budget forecasts fiscal 1988 revenues of 8.63 billion
dlrs and expenditures of 10.42 billion dlrs, Johnston said.
    The provincial budget raises combined personal and
corporate income taxes by about 20 pct, Johnston said.
    Johnston told a news conference taxes were increased after
revenues from oil and gas taxes fell by 64 pct last year and
are not expected to increase sharply in the short term.
    The provincial government expects resource tax revenues for
fiscal 1987 to fall to 1.30 billion dlrs from a previously
estimated 2.20 billion dlrs, compared to 3.60 billion dlrs
collected in fiscal 1986 before the collapse in oil prices.
    Johnston told reporters he needed to raise taxes in order
to begin moving towards a balanced budget in 1990-91.
    Johnston said the personal income tax increase takes three
forms. The basic provincial tax rate rises to 46.5 pct from
43.5 pct of the basic federal income tax rate.
    The provincial budget also imposed a temporary eight pct
surtax on individuals with taxable income of more than 36,000
dlrs, he said.
    In addition, the government levied a flat one pct surtax on
all individuals with taxable income.
    Johnston said overall government spending of 10.42 billion
dlrs represents a cut of 4.4 pct, but various grants and tax
credits for agriculture and energy industries will remain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13556" NEWID="8034">
<DATE>20-MAR-1987 17:54:04.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2622&#31;reute
d f BC-WISCONSIN-ELECTRIC-&lt;W   03-20 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>WISCONSIN ELECTRIC &lt;WTC> OFFERS PREFERRED</TITLE>
<DATELINE>    NEW YORK, March 20 - </DATELINE><BODY>Wisconsin Electric Power Co said it
began a public offering of 700,000 shares of serial preferred
stock, 6-3/4 pct series, 100 dlrs par value, at a price of 100
dlrs per share.
    The shares are being offered pursuant to a shelf
registration covering 700,000 sahres of serial preferred stock
which the company filed on February 19, 1987.
    Proceeds will be used to redeem outstanding preferred stock
or for repayment of short-term indebtedness.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13557" NEWID="8035">
<DATE>20-MAR-1987 17:55:02.25</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;f2623&#31;reute
r f BC-TEXAS-AIR-&lt;TEX>-UNIT   03-20 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS AIR &lt;TEX> UNIT SELLS EQUIPMENT-BACKED DEBT</TITLE>
<DATELINE>    NEW YORK, March 20 - </DATELINE><BODY>Continental Airlines Inc, a unit of
Texas Air Corp, is offering 350 mln dlrs of equipment-backed
debt securities in three tranches and another 150 mln dlrs of
senior notes due 1997, said lead manager Drexel Burnham.
    A 100 mln dlr offering of first priority secured equipment
certificates due 1992 was given a 10 pct coupon and par
pricing. This tranche is non-callable to maturity.
    A 125 mln dlr issue of second priority secured equipment
certificates due 1995 has an 11 pct coupon and par pricing and
an equal-sized offering of third priority certificates due 1999
was given an 11-3/8 pct coupon and par pricing.
    The second two tranches of the equipment-backed deal are
non-callable for five years, Drexel said.
    Continental's 10-year notes were assigned an 11-1/2 pct
coupon and priced at par. They are non-callable for five years.
Texas Air has guaranteed the scheduled payments of interest and
principal for the senior notes.
    The securities are rated B-2 by Moody's and B by Standard
and Poor's. Kidder Peabody, Merrill Lynch and Smith Barney
co-managed the issues. Proceeds, estimated at 486 mln dlrs,
will be used to repay about 254 mln dlrs of bank debt, with the
remainder added to working capital, Continental said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13558" NEWID="8036">
<DATE>20-MAR-1987 18:00:25.76</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;f2628&#31;reute
r f BC-STANWOOD-CORP-&lt;SNW>-4   03-20 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>STANWOOD CORP &lt;SNW> 4TH QTR JAN 3</TITLE>
<DATELINE>    NEW YORK, March 30 -
    </DATELINE><BODY>Shr loss 1.12 dlrs vs profit one cts
    Net loss 1.7 mln vs profit 8,000 dlrs
    Revs 31.8 mln vs 42.1 mln
    Year
    Shr loss 51 cts vs profit 57 cts
    NEt loss 780,000 vs profit 876,000
    Revs 117.8 mln vs 117.3 mln
    NOTE:1986 4th qtr includes loss of 911,000 for termination
of licensing agreement and loss of 319,000 dlr for termination
of womens wear operation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13559" NEWID="8037">
<DATE>20-MAR-1987 18:01:38.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2630&#31;reute
r f BC-GUEST-SUPPLY-&lt;GEST>-G   03-20 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>GUEST SUPPLY &lt;GEST> GETS SHAREHOLDER SUIT</TITLE>
<DATELINE>    NORTH BRUNSWICK, N.J., March 20 - </DATELINE><BODY>Guest Supply INc said a
shareholder sued it and certain officers and directors,
alleging misrepresentations and omissions in the prospectus for
the company's September 1986 public offering.
    Guest said the complaint is without merit and will defend
the action vigorously.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13560" NEWID="8038">
<DATE>20-MAR-1987 18:01:49.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D><D>japan</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>worldbank</D><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2631&#31;reute
r f BC-CONABLE-SAYS-BRAZIL-D   03-20 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>CONABLE SAYS BRAZIL DEBT MORATORIUM IS TEMPORARY</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>World Bank President Barber Conable
said he believed Brazil's decision to suspend foreign debt
interest payments is temporary.
    Conable in a wide-ranging television interview to be shown
on public broadcasting tomorrow said Brazil now has the
attention of its creditors and must come up with a plan
designed to reform its economy.
    "I think the Brazilians have the attention of many of their
creditors, but they must come up with a plan that will persuade
people that the Brazilian economy is going to be put on a
course that will result in some growth."
    Turning to Japan, Conable said the role of that country has
been increasing in the World Bank and is expected to continue
to do so.
    He said that Japan had made an additional 450 mln dlr
pledge to the International Development Association, an
indication that it agrees that it must provide more help in
line with its economic position.
    Conable said there was no indication that the Soviet Union
was serious about joining the International Monetary Fund and
World Bank. He said they would have to get convertible currency
and open their books and the Soviets "don't usually do that."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13555" NEWID="8039">
<DATE>20-MAR-1987 18:06:35.19</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 Y
&#22;&#22;&#1;f2635&#31;reute
r f BC-sulpetro-loss-due-to   03-20 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>SULPETRO LOSS DUE TO WRITEDOWNS, ASSET DISPOSALS</TITLE>
<DATELINE>    Calgary, Alberta, March 20 - </DATELINE><BODY>&lt;Sulpetro Ltd> said its 1986
fiscal year net loss of 276.4 mln dlrs, or 19.22 dlrs per
share, was due to several factors, the largest of which was a
writedown of 125.0 mln dlrs of oil and gas properties.
    Sulpetro also recorded a writeoff of deferred charges
amounting to 67.0 mln dlrs, a loss of 22.5 mln dlrs on the
disposal of all properties in the United Kingdom and an equity
loss of 21.2 mln dlrs from affiliate Sulbath Exploration Ltd.
    There was also a loss on other investments of 4.6 mln dlrs
and a loss on operations of 36.1 mln dlrs after interest,
depletion, depreciation and income tax recoveries.
    In the fiscal year ended October 31, 1985, Sulpetro had a
net loss of 45.6 mln dlrs, or 3.90 dlrs per share.
    The company also said its non-recourse project financing
for the Irish-Lindergh heavy oil field remains in default due
to continuing low oil prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13561" NEWID="8040">
<DATE>20-MAR-1987 18:07:55.50</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;f2636&#31;reute
u f BC-AMERICAN-EXPRESS-&lt;AXP   03-20 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN EXPRESS &lt;AXP> TO DISCUSS SHEARSON DEAL</TITLE>
<DATELINE>    New York, March 20 - </DATELINE><BODY>American Express Co's board of
directors Monday will discuss the company's arrangement to sell
13 pct of Shearson Lehman Brothers Inc to Nippon Life Insurance
Co, a company spokesman said.
    The spokesman would not say whether the board is planning
to vote on the understanding between American Express and
Nippon Life. The Shearson stake is to be sold for 530 mln dlrs,
American Express has said.
    The spokesman also would not comment on speculation that
the board was to discuss a sale of securities to the public.
    Monday's board meeting is a regular monthly meeting. The
plan to sell part of Shearson to Nippon Life must be approved
by the American Express board and Japan's Ministry of Finance.
    Earlier, American Express and Shearson said they were
subpoenaed by the Securities and Exchange Commission. American
Express said it was subpoenaed for documents pertaining to
securities transactions of American Express and Fireman's Fund.
Shearson was subpoenaed for documents related to transactions
with Jefferies and Co and others.
    The American Express spokesman said he could not comment on
whether any officials of the firm were subpoenaed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13562" NEWID="8041">
<DATE>20-MAR-1987 18:11:31.62</DATE>
<TOPICS><D>crude</D><D>nat-gas</D><D>fuel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2642&#31;reute
r f BC-NATURAL-GAS-SEEN-RECA   03-20 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NATURAL GAS SEEN RECAPTURING SOME MARKET SHARE</TITLE>
<AUTHOR>    By NAILENE CHOU-WIEST, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 17 - </DATELINE><BODY>Higher crude oil prices will raise
demand for natural gas, helping it to reclaim market share lost
to heavy oil when prices plunged in 1986, analysts said.
    The analysts said that these efforts will be most
successful in the industrial sectors of the economy with large
and growing energy requirements.
    "Natural gas stands a good chance to recapture the share of
oil supplied to electric utilities that it lost to the residual
fuel industry last year," Michael Smolinski, an energy
economist with Data Resources Inc, told Reuters.
    An estimated 200,000 barrels per day of residual fuel went
into the utilities market at the expense of natural gas last
year when world oil prices plunged, Smolinski said. 
    Assuming oil prices hold above 15 dlrs a barrel, national
average gas prices delivered to the utilities at a projected
2.10 to 2.25 dlrs per mln Btu would be very competitive,
Michael German, vice president of economic analysis at American
Gas Association said.
    The average delivered prices at the end of January were
2.10 dlrs per mln Btu, compared with 3.26 dlrs a year ago.
    "We expect natural gas to regain 250 to 400 billion cubic
feet (of demand) in the overall energy market in the second and
third quarter (1987)," he said.
    In addition to price competitiveness, availability will be
an important factor persuading energy users to switch to gas,
Frank Spadine, senior energy economist with Bankers Trust Corp.
in New York noted.
    Spadine said the mild winter in many parts of the North
American continent has led to a build up of gas inventories and
less would be necessary to replenish underground storage this
spring freeing gas for spot sales.
    These forecasts develop a strong counterpoint to the fears
that natural gas suplies would be tight and prices
significantly higher given a sharp decline in drilling last
year.
    AGA's German contended that despite the drilling decline,
much of U.S. proved reserves could be brought to production
quickly through developments such as the infill drilling which
permits more wells to be drilled in proved reserve basins.
    Citing recent EIA statistics, German said, the gas surplus
was likely to contract from three trillion cubic feet in 1986
to two trillion cubic feet in 1987, but the surplus would not
go away until 1990.
    Smolinski of Data Resources agreed that the surplus would
persist until 1990. While gas supplies may tighten in certain
consuming areas, notably in California and in the Northeast
U.S., an overall shortfall appeared remote.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13563" NEWID="8042">
<DATE>20-MAR-1987 18:14:24.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2647&#31;reute
r f BC-LOUISIANA-LAND-&lt;LLX>   03-20 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>LOUISIANA LAND &lt;LLX> ASSUMES INEXCO'S DEBT</TITLE>
<DATELINE>    NEW ORLEANS, March 20 - </DATELINE><BODY>Louisiana Land and Exploration Co
said it assumed the obligation to pay the principal and
interest on the 8-1/2 pct convertible subordinated debentures
due September 1, 2000 of Inexco Oil Co, a unit of Louisiana
Land.
    Effective March 23, the debentures will be listed as the
debentures of Louisiana Land, LLXOO.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13564" NEWID="8043">
<DATE>20-MAR-1987 18:16:46.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A
&#22;&#22;&#1;f2653&#31;reute
r f BC-macmillan-bloedel-to   03-20 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>MACMILLAN BLOEDEL &lt;MMBLF> TO REDEEM DEBENTURES</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 20 - </DATELINE><BODY>MacMillan Bloedel
Ltd said it will redeem all outstanding nine pct series J
debentures on April 27, 1987 for 34.9 mln U.S. dlrs, plus a
premium of one pct and accrued and unpaid interest.
    The series J debentures were issued in Europe in 1977 and
were due February 1992, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13565" NEWID="8044">
<DATE>20-MAR-1987 18:19:27.03</DATE>
<TOPICS><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 A RM
&#22;&#22;&#1;f2659&#31;reute
r f AM-TRADE-COMPUTERS   03-20 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATORS SAY SANCTIONS LIKELY ON MICROCHIPS</TITLE>
<AUTHOR>    By Jacqueline Frank, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>The United States will likely impose
sanctions soon on imports of Japanese microchips, senators said
today after a private meeting with Commerce Secretary Malcolm
Baldrige.
    Although the senators said Baldrige told them no decision
would be taken until a final determination is made on whether
Japanese microchips were dumped in the United States, they said
they were virtually sure Japan would face penalties.
    President Reagan's trade policy advisory group, of which
Baldrige is a member, will meet on the issue Wednesday.
    "I am confident we will see action taken," Sen. John McCain,
an Arizona Republican, told reporters.
    "I am expecting sanctions at least, and even more than
sanctions," Sen. Pete Domenici, a New Mexico Republican, said.
    The senators, several congressmen and U.S. semiconductor
industry representatives met with Baldrige and State Department
officials to discuss Japan's alleged violations of a September
1986 agreement to stop dumping its microchips in the United
States and other countries.
    They recommended Japanese firms be penalized through
tariffs or import duties over the next six to 12 months for
continuing to dump microchips. The violations were worth 100
mln dls to the Japanese semiconductor industry, they said.
    Asked if Baldrige intended to recommend sanctions, Sen.
Pete Wilson told reporters, "The clear import of what he said is
that there will be."
    "Japan can't just say they will comply. We think sanctions
must be applied," for past violations of the agreement, the
California Republican said.
    The semiconductor industry produces microprocessor chips
which are used in high technology products ranging from radios
to defence missile guidance systems.
    Sen. James McClure, an Idaho Republican, said Baldrige told
them the administration had not made a final determination that
Japanese companies had dumped semiconductor microchips below
the cost of production in the United States or other countries.
    But McClure said senators told him, "There is no doubt
dumping is going on," based on evidence such as invoices of
purchases of the Japanese products.
    The two countries signed a pact last September in which
Japan agreed to stop selling its microchips in the United
States and other countries below production costs and to allow
the U.S. semiconductor industry access to the Japanese market.
    In return, the United States waived its right to impose
import duties on the Japanese microchips.
    Japanese officials have said they have lived up to the pact
and have asked Japanese chip-makers to further slash output to
save the pact.
    Japan has frequently been the target of congressional
discouragement over last year's record 169-billion-dlr trade
deficit. Tokyo had a 59-billion-dlr surplus with the United
States last year and had large surpluses with other countries.
    The Senate yesterday unanimously passed a resolution
calling for action against Japan for violations of the pact
since September. The resolution will be introduced in the House
next week by Rep. Bob Matsui, a California Democrat.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13566" NEWID="8045">
<DATE>20-MAR-1987 18:20:01.80</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;f2661&#31;reute
d f BC-MULTI-MEDIA-SEES-YEAR   03-20 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>MULTI-MEDIA SEES YEAR END LOSS</TITLE>
<DATELINE>    NEW YORK, March 20 - </DATELINE><BODY>Multi-Media Barter Ltd said it expects
to report a net loss of 820,000 dlrs or 17 cts a share for the
year ended December 31, compared to a loss of 553,000 or 11 cts
a share in the prior year.
    The fourth quarter resulted in a net loss of 227,000 or
four cts compared to a loss of 330,000 or six cts a shares last
year.
    It said it is currently in the process of restructuring by
reducing expenses and streamlining operations and has cut
expenses from 50,000 dlrs to less than 15,000 dlrs a month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13567" NEWID="8046">
<DATE>20-MAR-1987 18:25:06.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2670&#31;reute
d f BC-WIEBOLDT'S-TO-CLOSE-E   03-20 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>WIEBOLDT'S TO CLOSE EIGHT STORES</TITLE>
<DATELINE>    CHICAGO, March 20 - </DATELINE><BODY>Wieboldt's Department Stores, in
Chapter 11 bankruptcy since September 1986, said as part of an
agreement with creditors it will operate its four largest and
most productive stores but close the remaining eight stores.
    It said 341 employees of its remaining 885 employees will
be laid off or terminated as a result.
    The company also said it established a fund of about 12 mln
dlrs to be available for payment of creditors' claims.
    The retailer said it would continue to operate its four
largest and most productive Chicago area outlets - State
Street, Randhurst, Harlem-Irving and Ford City.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13568" NEWID="8047">
<DATE>20-MAR-1987 18:26:27.13</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;f2673&#31;reute
w f BC-NATIONAL-HMO-CORP-&lt;NH   03-20 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL HMO CORP &lt;NHMO> 2ND QTR JAN 31</TITLE>
<DATELINE>    MELBOURNE, Fla, March 20 -
    </DATELINE><BODY>Shr loss nine cts vs profit nine cts
    Net loss 478,000 vs profit 371,000
    Revs 3.4 mln vs 2.6 mln
    Six months
    Net loss 466,000 vs profit 685,000
    Revs 6.2 mln vs 5.0 mln
    NOTE:1987 net loss includes writeoff of deferred start up
costs totaling 490,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13569" NEWID="8048">
<DATE>20-MAR-1987 18:39:41.65</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2685&#31;reute
r f BC-MINORCO-&lt;MNRCY>-HALF   03-20 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>MINORCO &lt;MNRCY> HALF YEAR DEC 31</TITLE>
<DATELINE>    TORONTO, ONtario, March 20 -
    </DATELINE><BODY>Shr 26 cts vs 38 cts
    Net 44.0 mln vs 65.0 mln
    NOTE:1986 net includes one mln dlr extraordinary gain and
1985 net icludes four mln dlrs extraordinary loss.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13570" NEWID="8049">
<DATE>20-MAR-1987 18:41:04.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2686&#31;reute
u f BC-PHILIPPINE-DEBT-TALKS   03-20 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE DEBT TALKS TO CONTINUE ON SATURDAY</TITLE>
<DATELINE>    NEW YORK, March 20 - </DATELINE><BODY>The Philippines and its bank advisory
committee completed another round of debt rescheduling talks 
and will meet again on Saturday, a senior banker said.
    Although today's negotiations did not produce a final
agreement, the decision to meet at the weekend appears to be a
signal that the two sides are making progress.
    The Philippines seeks to restructure 9.4 billion dlr of its
27.2 billion dlr foreign debt. The interest rate to be charged
on the debt and Manila's proposal to pay interest partly with
investment notes instead of cash have been the main sticking
points in the talks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13571" NEWID="8050">
<DATE>20-MAR-1987 18:41:09.81</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;f2687&#31;reute
r f BC-MINORCO-&lt;MNRCY>-SEES   03-20 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>MINORCO &lt;MNRCY> SEES IMPROVED SECOND HALF</TITLE>
<DATELINE>    TORONTO, Ontario, March 20 - </DATELINE><BODY>Minorco said it expects net
earnings to be substantially stronger than the 44.0 mln dlrs
reported for the first half.
    In reporting that first half results declined from 65.0 mln
dlrs, Minorco said the contributions from its 50 pct investment
in December 1985 in Adobe Resources Corp was negative as a
result of low oil and gas prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13572" NEWID="8051">
<DATE>20-MAR-1987 18:41:20.90</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2688&#31;reute
r f BC-MINORCO-&lt;MNRCY>-SEES   03-20 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>MINORCO &lt;MNRCY> SEES IMPROVED SECOND HALF</TITLE>
<DATELINE>    TORONTO, Ontario, March 20 - </DATELINE><BODY>Minorco said it expects net
earnings to be substantially stronger than the 44.0 mln dlrs
reported for the first half.
    In reporting that first half results declined from 65.0 mln
dlrs, Minorco said the contributions from its 50 pct investment
in December 1985 in Adobe Resources Corp was negative as a
result of low oil and gas prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13573" NEWID="8052">
<DATE>20-MAR-1987 18:44:31.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2691&#31;reute
r f BC-FDIC-SAYS-INDIANA-BAN   03-20 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>FDIC SAYS INDIANA BANK BECOMES 48TH TO FAIL</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>The Federal Deposit Insurance Corp
said state banking regulators closed the Morocco State Bank in
Morrocco, Indiana, bringing the total number of banks to fail
so far this year to 48.
    The failed bank's 14.1 mln dlrs in deposits and 9.9 mln
dlrs of its loans and other assets will be assumed by DeMotte
State Bank in DeMotte, Ind, the FDIC said.
    The FDIC said it will advance 3.7 mln dlrs to help the
transaction and would retain 5.1 mln dlrs in the failed banks
assets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13574" NEWID="8053">
<DATE>20-MAR-1987 18:48:35.54</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;f2693&#31;reute
u f AM-ARMS-KAMPELMAN   03-20 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ARMS NEGOTIATOR SAID TO HAVE HEART ATTACK</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>U.S. arms negotiator Max Kampelman
suffered a mild heart attack, an aide said.
    Nancy Tackett, Kampleman's staff assistant, told Reuters
Kampelman was doing well and was expected to leave George
Washington Hospital in about a week.
    "A full recovery is expected," she said.
    Kampelman did not feel well yesterday and may have
sufffered the heart attack then, Tackett said. He had a
regularly-scheduled physical this morning and entered the
hospital after that, on his doctor's advice, she said.
      A hospital spokesman confirmed that Kampelman was a
patient in the coronary care unit.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13575" NEWID="8054">
<DATE>20-MAR-1987 18:49:16.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2695&#31;reute
u f BC-DALLAS-BASED-THRIFT-C   03-20 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>DALLAS-BASED THRIFT CLOSED BY REGULATORS</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>The Federal Home Loan Bank Board
said Dallas-based Vernon Savings and Loan Association, the 15th
largest thrift in Texas, was closed by state authorities and
its assets, deposits and liabilities were transfered to a new
federally chartered association.
    Vernon, with 1.35 billion dlrs of assets and nine offices
in Texas and Oklahoma, was closed after state regulators
concluded it was in unsafe and unsound condition.
    The thrift was owned by Texas businessman Donald Dixon, who
bought it in early 1982, when it had only 120 mln dlrs in
assets.
    The bank board said growth was accomplished largely through
the purchase of brokered deposits and the sale of jumbo
certificates of deposit, which totaled 29 pct of total deposits
at the end of 1986.
    The bank board also said that 96 pct of its loan portfolio
was nonperforming as a result of sloppy loan practices.
    It said Vernon also paid excessive salaries and dividends
to officers and directors and bought a beach house and five
airplances for the use of thrift executives and stockholders.
    The bank board ousted the thrift's officers and directors
and hired another Texas association to run it.
    The bank board also said it closed First Federal of
Maryland, a federal savings association that had 115.2 mln dlrs
in assets. It said its 118 mln dlrs in insured deposits were
transferred to Columbia First Federal Savings and Loan
Association of Washington, D.C.
    The bank board said First Federal had engaged in unsound
loan underwriting practices and many of the loans are now
deliquent. The institution experienced heavy and continuing
losses and became insolvent, the bank board said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13576" NEWID="8055">
<DATE>20-MAR-1987 18:50:54.45</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2699&#31;reute
r f BC-BOLIVIA-PREPARES-FOR   03-20 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - BOLIVIA</TITLE>
<AUTHOR>    By Paul Iredale, Reuters</AUTHOR>
<DATELINE>    LA PAZ, March 20 - </DATELINE><BODY>Bolivia, once Latin America's most
delinquent debtor, is preparing for a second International
Monetary Fund agreement after an economic stabilisation program
has effectively slowed inflation and reduced public spending.
    A fund spokesman said an IMF team would visit La Paz
shortly to discuss terms of the new agreement.
    He said the IMF had disbursed 130 mln dlrs here and 20 mln
dlrs are pending under the one year agreement that ends this
month. The accord provided for a stand-by loan, a compensatory
financing facility and a structural adjustment facility.
    The spokesman said that if the agreement is renewed,
Bolivia can expect a further 60-mln-dlr stand-by loan over the
next 12 months.
    Bolivia's agreement with the IMF, its first since 1980,
opened the door to rescheduling negotiations with the Paris
Club and Argentina and Brazil, which hold 2.5 billion dlrs of
Bolivia's 4.0-billion-dlr foreign debt.
    Central Bank President Javier Nogales told Reuters the
negotiations with the Paris Club, which have yet to be
finalised, had been extremely successful.
    Nogales said the Paris Club had agreed to reschedule
Bolivia's debt over 10 years with five to six years grace and
had waived all interest payments until the end of 1988.
    Bilateral discussions on interest rates continue, he said.
    Nogales said Bolivia was expecting some 400 mln dlrs in
disbursements this year from lender countries and international
agencies, including the World Bank and the Inter-American
Development Bank, although diplomatic and banking sources put
the figure at closer to 300 mln dlrs.
    Nogales said Bolivia's net international reserves are
around 250 mln dlrs, up from one mln dlrs when President Ictor
Paz Estenssoro took office in august 1985. Nogales said the
capital flow on Bolivia's debt servicing versus new credits had
changed from a net outflow of 200 mln dlrs in 1985 to a net
inflow of 130 mln dlrs in 1986.
    Bolivia's return from the financial wilderness follows paz
estenssoro's economic stabilisation program. He inherited
inflation of 23,000 pct a year, state enterprises that were
losing hundreds of mlns of dlrs and a currency that traded on
the black market at up to 16 times its official rate.
    Paz estenssoro froze public sector wages, set a market-
related rate for the peso, introduced tax reforms and laid off
thousands of workers in state corporations.
    Inflation has been running at 10 pct a year for the past
six months, according to the Central Bank, and the government 
expects the economy to grow three pct this year after a 14 pct
contraction over the last six years.
    The government is also proposing a novel solution to its
debt to commercial banks, some 900 mln dlrs, on which interest
has not been paid since March, 1984.
    Nogales said that over the next few months Bolivia would
make a one-time offer to buy back all its commercial debt at
the price it trades on the international secondary market -- 
10-15 cents on the dlr. He said Bolivia's commercial bank
steering committee agreed at a meeting in New York to consider
the proposal, but it is still unclear what proportion of the
country's creditor banks will take up the offer.
    One foreign banker speculated that Bolivia might be able to
buy back up to 30 pct of its commercial debt paper under the
deal, mostly from small banks who have written off their loans
to the country.
    But he said the larger creditors were more interested in a
scheme of debt-equity swaps, similar to that which has operated
in Chile for the past two years.
    The Bolivian government has yet to draw up proposals for
debt-equity swaps, but the banker said it was planning to
privatise more than 100 state companies and these could serve
as a basis for such a scheme.
    Foreign bankers said this type of proposal might prove
attractive to Bolivia in the long run, especially as the
government realises that it will have to attract a large amount
of new capital in order to grow.
    Planning Minister Gonzalo Sanchez de Lozada told Reuters
that Bolivia was hoping for five to six billion dlrs in new
investment over the next 10 to 12 years.
    The government realises that in order to remain viable,
Bolivia will need to develop new exports.
    The price of tin, which accounted for some 45 pct of
Bolivia's exports in 1984, has collapsed on the world markets,
and gas, the country's major revenue earner, is in abundant
supply in the region.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13577" NEWID="8056">
<DATE>20-MAR-1987 18:51:57.82</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;f2703&#31;reute
r f BC-NEOAX-INC-&lt;NOAX>-4TH   03-20 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>NEOAX INC &lt;NOAX> 4TH QTR</TITLE>
<DATELINE>    LAWRENCEVILLE, N.J., March 20 -
    </DATELINE><BODY>Shr loss 13 cts vs loss six cts
    Net loss 1.4 mln vs loss 635,000
    Revs 40.3 mln vs 28.5 mln
    Year
    Shr profit 40 cts vs profit 26 cts
    Net profit 4.2 mln vs 2.6 mln
    Revs 166.4 mln vs 94.6 mln
    NOTE:1986 4th qtr and year net reflects dividend
requirements of 1.5 mln dlrs and 3.3 mln dlrs, and charges of
257,000 dlrs and 4.6 mln dlrs respectively which is not
accruable or payable because of pre-reorganization tax loss
carryforwards.
    1985 4th qtr and year net reflects dividend requirement of
1.1 mln dlrs and 2.3 mln dlrs, respectively, and charges of
472,000 dlrs and 2.9 mln dlrs respectively which is not
accruable or payable because of pre-organization tax loss
carryforwards.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13578" NEWID="8057">
<DATE>20-MAR-1987 18:57:24.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2706&#31;reute
r f BC-PACIFIC-STOCK-EXCHANG   03-20 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC STOCK EXCHANGE SHORT INTEREST UP</TITLE>
<DATELINE>    SAN FRANCISCO, March 20 - </DATELINE><BODY>The Pacific Stock Exchange said
there was a total short interest of 1,413,674 shares of stock
exclusively traded on the Exchange as of March 13, an increase
of 102,486 shares from last month's restated total of
1,311,188.
    The Exchange said the short interest ratio rose to 1.42
from last month's ratio of 1.25.
    The ratio is based on an average daily trading volume of
994,545 shares in the 47 issues included in the report.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13579" NEWID="8058">
<DATE>20-MAR-1987 19:17:44.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2718&#31;reute
r f BC-U.S.-SAYS-STATE-REGUL   03-20 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SAYS STATE REGULATORS CLOSE OKLAHOMA BANK</TITLE>
<DATELINE>    WASHINGTON, March 20 - </DATELINE><BODY>The Federal Deposit Insurance Corp 
(FDIC) said it transfered the federally insured deposits of
Madill Bank and Trust Co, Madill, Okla, to the healthy First
American National Bank, Tishomingo, Okla., after Madill was
closed by Oklahoma authorities.
    The failed bank had 37.0 mln in assets and two offices.
    Madill was the 49th federally insured bank to fail so far
this year, the FDIC said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13580" NEWID="8059">
<DATE>20-MAR-1987 19:31:41.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2721&#31;reute
b f BC-SEC'S-SHAD-SEES-WIDEN   03-20 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC'S SHAD SEES WIDENING TRADING PROBES</TITLE>
<DATELINE>    NEW YORK, March 20 - </DATELINE><BODY>Securities and Exchange Commission
chairman John Shad said the SEC's investigations of
insider-trading on Wall Street will broaden to include other
types of securities law violations.
    Shad, appearing on Cable News Network's Moneyline program,
said the SEC staff will "go down every avenue" in which it
finds violations of securities laws.
    He said the SEC staff will investigate "many more ancillary
areas." These, he said, include stock "parking" to avoid
required SEC filings on stock holdings of more than five pct
and failures by brokerage firms to meet net capital
requirements.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13581" NEWID="8060">
<DATE>21-MAR-1987 00:49:21.32</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>unctad</D><D>inro</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0003&#31;reute
r f BC-MAIN-FEATURES-OF-NEW   03-21 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>MAIN FEATURES OF NEW RUBBER PACT</TITLE>
<DATELINE>    GENEVA, March 21 - </DATELINE><BODY>The new International Natural Rubber
Agreement (INRA), like the 1979 pact, will use a buffer stock
as the sole instrument for market intervention -- excluding
export quotas or production controls.
    The new INRA was adopted yesterday at a session held under
the auspices of the United Nations Conference on Trade and
Development (UNCTAD).
    In many respects the main features in the new pact resemble
those contained in the present one.
    The reference price, currently 201.66 Malaysian/Singapore
cts per kilo, will be maintained -- unless between now and
October 22, when the 1979 INRA expires, the average of the
daily market indicator price remains above the upper
intervention ("may sell") price (231 cts) or below the lower
intervention ("may buy") price (171 cts) for six months.
    If this happened -- but delegates said it was unlikely
considering that the present indicator price averages 196 cts
-- the price would be revised under the current accord by five
pct or by whatever amount the International Natural Rubber
Council decides.
    The new reference price would then be taken over for the
new agreement.
    Under the same circumstances in the new pact the reference
price would be automatically revised by five pct unless the
Council decides on a higher percentage.
    Similarly, if buffer stock purchases or sales amounting to
300,000 tonnes have been made since the last revision, the
reference price will be lowered or raised by three pct unless
the Council decides on a higher percentage.
    Another change introduced in the new INRA is that price
reviews will be held at 15-month intervals instead of 18.
    Those changes are intended to make the reference price more
responsive to market trends.
    As in the present accord the "may buy" and "may sell" levels
are set at plus or minus 15 pct of the reference price, and the
"must buy" and "must sell" levels at 20 pct of it.
    The lower and upper indicative prices (floor and ceiling
prices) will remain fixed at 150 and 270 cents, unless the
Council decides to revise them at reviews held every 30 months.
    During the negotiations, consumers abandoned a proposal
that the floor price be adjusted downward if the buffer stock,
currently 360,000 tonnes, rose to 450,000 tonnes.
    The maximum size of the buffer stock in the new pact is the
same as under the present one -- 400,000 tonnes, with provision
for an additional contingency buffer stock of 150,000 tonnes.
    Under the new accord, the contingency buffer stock will be
brought in at 152 cts to defend the floor price.
    At last Friday's session, Ahmed Farouk, speaking for
producers, said producing nations considered that the 1979 pact
had served the purpose for which it had been created.
    Gerard Guillonneau of France, who spoke for consumers,
agreed that the current agreement had worked "relatively well."
    Asked about the chances of success of the new INRA,
delegates noted that for nearly its whole life, the 1979 accord
had maintained the average price above the "must buy" level.
    They said the agreement until now did not appear to have
encouraged excessive production of rubber.
    In addition, provisions for borrowing to finance the buffer
stock have now been eliminated, ruling out speculation. "It is a
sort of middle-of-the-road agreement," one delegate said.
    The new pact will be open for signature at U.N.
Headquarters in New York from May 1 to December 31 this year.
    To become operational, it will require ratification by
countries accounting for 75 pct of world exports and 75 pct of
world imports.
    Delegates estimate that this will take 12 to 14 months from
now. During the hiatus between the two agreements, the
International Natural Rubber Council will remain in place.
    The pact will enter into force definitively when
governments accounting for 80 pct of world exports and 80 pct
of world imports have ratified it.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13582" NEWID="8061">
<DATE>21-MAR-1987 03:03:03.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0011&#31;reute
r f BC-DROUGHT-RAVAGES-CHINE   03-21 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>DROUGHT RAVAGES CHINESE FARMLAND</TITLE>
<DATELINE>    PEKING, March 21 - </DATELINE><BODY>A prolonged drought is ravaging more
than 13 mln hectares (32 mln acres) of farmland in China and
has cut water levels in major rivers to record lows, the China
Daily said.
    The drought will affect both the summer harvest in the
south and the spring sowing under way in the north.
    It said the most seriously affected areas are Guangdong,
Jiangxi, Hunan, Shaanxi, Sichuan, Hebei, Shanxi and Guangxi.
    It said that, despite bigger snowfalls this year than last
in Hebei and Shanxi and more rainfall forecast for some areas,
the drought will not abate in the near future.
    This is because the drought has lasted so long that slight
increases in rainfall are not enough to alleviate it, the paper
said.
    It said that the water level on the middle reaches of the
Yangtze has fallen to its lowest level in more than 110 years,
so that more than 100 ports along it cannot receive ships.
    Water level of other major rivers, including the Zhujiang,
Qiantangjiang and Minjiang, have also been affected by the
drought, the paper added but gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13583" NEWID="8062">
<DATE>21-MAR-1987 03:46:06.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0014&#31;reute
r f BC-BOLIVIAN-POLICE-DISPE   03-21 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIVIAN POLICE DISPERSE UNEMPLOYED MINERS</TITLE>
<DATELINE>    LA PAZ, March 21 - </DATELINE><BODY>Police fired tear gas to disperse 1,000
unemployed miners blocking the route of West German President
Richard Weizsaecker's motorcade to La Paz, Bolivian Information
Minister Herman Antelo said.
    "They were forced to use tear gas to disperse the miners
because they blocked the West German president's motorcade into
the city," Antelo told journalists last night after the
incident. Weizsaecker began a four-day visit here.
    The demonstrators were part of about 20,000 miners -- about
two-thirds of the total mining workforce -- laid off by the
government to streamline the deficit-ridden state mining firms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13584" NEWID="8063">
<DATE>21-MAR-1987 04:11:13.22</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0015&#31;reute
r f BC-TAIWAN-INDUSTRIAL-OUT   03-21 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN INDUSTRIAL OUTPUT FALLS, CURRENCY BLAMED</TITLE>
<DATELINE>    TAIPEI, March 21 - </DATELINE><BODY>Taiwan's industrial production index,
fell, largely as the result of the rising Taiwan dollar, by
8.18 pct to 140.06 (base 1981) in February from a revised
152.53 in January, the Economy Ministry said.
    It was the second consecutive monthly fall, after dropping
nine pct in January, but it was still 26.49 pct up on February
1986 following a very extended rise last year.
    The January figure was revised from a preliminary 154.82.
    A ministry official attributed the decline to falling
production of non-metal products, textiles and transportation
equipment, and less mining and house construction.
    The official said the decline was also caused by falling
exports in February due to the climb of the Taiwan dollar,
which has made Taiwanese products more expensive.
    He expected the decline to continue in the next few months
because of further appreciation of the local dollar against the
U.S. Currency.
    The Taiwan dollar advanced more than 15 pct against the
U.S. Dollar since September 1985. It closed at 34.40 to the
U.S. Dollar today, and is expected to rise to about 32 to the
dollar by the end of this year, foreign bankers and economists
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13585" NEWID="8064">
<DATE>21-MAR-1987 06:31:28.65</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>zimbabwe</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C G L M T
&#22;&#22;&#1;f0023&#31;reute
u f BC-NO-ZIMBABWE-DOLLAR-DE   03-21 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>NO ZIMBABWE DOLLAR DEVALUATION - CENTRAL BANK</TITLE>
<DATELINE>    HARARE, March 21 - </DATELINE><BODY>Zimbabwe's Reserve Bank, the nation's
central bank, has denied the Zimbabwe dollar would be devalued.
    Bank Governor Kombo Moyana told The Herald daily newspaper
"unfortunate and completely unfounded speculation that a
depreciation of the Zimbabwe dollar was about to occur" had
aggravated a serious foreign exchange shortage.
    "During February and the early part of March this
(speculation) caused importers to bring forward their payments
and exporters to delay as long as possible the inward
remittance of export receipts, resulting in a significant
slowdown in net foreign exchange inflows," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13586" NEWID="8065">
<DATE>21-MAR-1987 06:34:01.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0024&#31;reute
r f BC-HONG-KONG-LAND-&lt;HKLD.   03-21 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>HONG KONG LAND &lt;HKLD.HK> DETAILS MANDARIN SPIN-OFF</TITLE>
<DATELINE>    HONG KONG, March 21 - </DATELINE><BODY>Hong Kong Land Co Ltd &lt;HKLD.HK> gave
details of a previously announced spin-off of its 80 pct stake
in &lt;Mandarin Oriental International Ltd> and a 32 pct stake in
&lt;Jardine Strategic Holdings Ltd> (JSH).
    An offer document prepared by financial adviser &lt;Jardine
Fleming (Securities) Ltd> said Hong Kong Land offers
shareholders 200 Mandarin shares at 1.54 H.K. Dlrs each and 93
JSH shares at 3.28 dlrs each for every 1,000 Hong Kong Land
shares. But price of Mandarin may be lowered to 1.43 dlrs each,
while shareholders may instead receive 86 JSH shares if all
Hong Kong Land's existing warrants are exercised before April
28.
    Hong Kong Land warrants are worth 725.92 mln dlrs.
    Holders of the firm's 151.89 mln preference shares will
receive a similar offer as ordinary shareholders.
    The company also agreed to sell a 20 pct stake in Mandarin
to Jardine Strategic for some 430 mln dlrs.
    Hong Kong Land said last month it is expected to receive
net proceeds of about 900 mln dlrs from the spin-off and the
sum will be used either for expansion or to reduce its debts.
    Hong Kong Land shares gained 30 cts to close at eight dlrs
each yesterday, while JSH was up 50 cts at 12.90 dlrs.
    Mandarin will commence trading on June 8.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13587" NEWID="8066">
<DATE>21-MAR-1987 07:29:17.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>malawi</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C G L M T
&#22;&#22;&#1;f0026&#31;reute
u f BC-MALAWI-INTRODUCES-NEW   03-21 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAWI INTRODUCES NEW TAXES TO BOOST REVENUE</TITLE>
<DATELINE>    ZOMBA, March 21 - </DATELINE><BODY>Malawi will impose a 15 pct "border tax" on
some overseas remittances and a five pct profit tax for local
branches of foreign firms to boost revenue and meet a projected
1987/88 budget deficit of 303 mln kwacha, the Malawi news
agency reported.
    Finance Minister Dalton Katopola, presenting the new
budget, said other measures would include raising surtax on
goods and services by five points to 35 pct and imposing duty
on luxury goods and tax on statutory bodies such as the Water
Board.
    Malawi's economy was expected to grow 2.3 pct this year, he
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13588" NEWID="8067">
<DATE>21-MAR-1987 08:18:21.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0028&#31;reute
r f BC-CHINA,-HONG-KONG-FIRM   03-21 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA, HONG KONG FIRMS SIGNS LOAN AGREEMENT</TITLE>
<DATELINE>    PEKING, March 21 - </DATELINE><BODY>&lt;China Sports Service Corp> of China and
&lt;Seylla Corp> of Hong Kong signed an agreement to borrow five
billion yen from an international syndicate of banks led by the
Bank of China, the New China News Agency said.
    It said the two firms will use the money to construct the
Olympic Hotel, with 14 storeys and 380 rooms, near Peking's
largest indoor stadium, to cater for participants at
international competitions and tourists.
    Construction of the hotel is under way and due to be
completed by June 1988, the agency added but gave no more
details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13589" NEWID="8068">
<DATE>21-MAR-1987 08:26:48.39</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0030&#31;reute
r f BC-FORMER-GOLD-FIRM-EXEC   03-21 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FORMER GOLD FIRM EXECUTIVES ARRESTED IN JAPAN</TITLE>
<DATELINE>    OSAKA, Japan, March 21 - </DATELINE><BODY>The public prosecutors and police
here arrested five former senior executives of a bankrupt gold
deposit business group for defrauding about 450 clients of
about 1.5 billion yen for gold bars which were never delivered,
police said.
    The case involving the Toyota Shoji Company was highlighted
when its 32-year-old Chairman Kazuo Nagano was stabbed to death
here in public view in June, 1985.
    Television crews which had been waiting outside Nagano's
home filmed two men smashing their way into the home and later
emerging with a bloodstained bayonet.
    The company, established here in 1981, undertook to hold
gold on deposit for investors. It grew into a nationwide
business operation with 87 branch offices and 7,000 employees
at its peak in early 1985.
    Toyota Shoji's business group collected an estimated 200
billion yen from about 30,000 clients, many of them pensioners
and housewives, before the firm went bankrupt in July, 1985,
according to lawyers.
    Of them, some 18,000 clients cla&#127;imed they could get back
neither gold or money, suffering an aggregate loss of 150
billion yen, local press reports said.
    Police said the five arrested on charge of fraud today
included Hiroshi Ishikawa, 47, former Toyota Shoji president,
and a sixth former executive was placed on a wanted list.
    They were suspected of having collaborated with the late
Nagano in swindling about 1.5 billion yen from about 450 people
in Osaka and n&#127;earby Kobe during a six month period just before
the firm's bankruptcy, they said.
    To&#127;&#127;day's arre&#127;st came a&#127;&#127;fter narly two years of joint&#127;
investigation by the public prosecutors and police, who &#127;had
questioned about 3,000 of&#127;&#127; the firm's former employees&#127;,
police sou&#127;rces &#127;&#127;said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13590" NEWID="8069">
<DATE>21-MAR-1987 23:13:52.25</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>conable</D><D>suharto</D></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0048&#31;reute
u f BC-WORLD-BANK-LIKELY-TO   03-21 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK LIKELY TO URGE CHANGES ON JAKARTA</TITLE>
<AUTHOR>    By Jeremy Clift, Reuters</AUTHOR>
<DATELINE>    JAKARTA, March 22 - </DATELINE><BODY>World Bank President Barber Conable is
expected to press Indonesia, the Third World's sixth largest
debtor, to maintain the momentum of economic policy changes to
tackle the slump in its oil revenues, western diplomats said.
    Conable, who flew to Indonesia yesterday from Tokyo, will
meet with President Suharto and senior economic ministers.
    He said on arrival that the economy of South-East Asia's
largest nation was being managed well, but the slump in world
oil prices called for major policy adjustments.
    Today the World Bank chief will visit Bank-funded projects
in the eastern section of Java, Indonesia's most populous
island. He will see Suharto on Tuesday after a day of detailed
discussions with ministers tomorrow.
    Indonesia, the only Asian member of OPEC, has been severely
hit by last year's crash in oil prices, which cut its oil and
gas revenues in half.
    Japan's state Export-Import Bank last month agreed to
provide around 900 mln dlrs in untied credits to help Indonesia
pay for its share of 21 World Bank development projects.
    Indonesia, a country of 168 mln people, has responded to
the oil slump by cutting spending, devaluing its currency by 31
pct, and trying to boost exports, while using foreign loans to
bridge its deficit.
    Diplomats said that Conable was expected to press Suharto
and leading economic ministers to maintain the pace of policy
change, particularly in dismantling Indonesia's high-cost
protected economy.
    "Oil prices, the debt crisis, the world recession, all call
for major policy adjustments and external support," Conable said
in his arrival statement.
    But with Indonesia facing parliamentary elections next
month, he is likely to avoid anything which would imply that
the Bank is demanding specific changes.
    "We believe there has been wise leadership here and the
economy is being very well managed," Conable told reporters at
Jakarta airport.
    Indonesia has official and private overseas debts totalling
37 billion dlrs, according to the Bank, which makes it the
Third World's sixth biggest debtor. It has received 10.7
billion dlrs from the World Bank since 1968.
    Conable did not spell out what further changes he would
like to see. Last month the Bank endorsed economic changes
already introduced by Indonesia, but implied it wanted more.
    Giving a 300 mln dlr loan in balance of payments support,
the Bank said it will monitor progress on implementation of the
government's trade reform measures, and supported its
determination to promote efficiency and longer-term growth.
    Indonesia has introduced a series of measures since last
May to boost non-oil exports, liberalise trade and encourage
outside investment.
    Suharto has also ordered a government committee to look
into which of Indonesia's 215 state-run companies could be
sold.
    But in a report last month, the U.S. Embassy said the
government appeared divided over how far to take its reforms.
    Western analysts say that in particular the government is
unsure how far to go with dismantling Indonesia's high-cost
monopolies, which control core areas of the economy.
    Central bank governor Arifin Siregar said this week that
Indonesia faced very limited economic choices.
    It could not spend its way out of trouble because this
would increase the balance of payments deficit and domestic
inflation.
     He said the main objective was to raise exports outside
the oil and natural gas sector.
    Indonesia's current account deficit is projected by the
government to fall to 2.64 billion dlrs in the coming financial
year which starts on April 1, from an estimated 4.1 billion in
1986/87.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13591" NEWID="8070">
<DATE>21-MAR-1987 23:28:35.08</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;f0055&#31;reute
u f BC-GERMAN-ECONOMY-SEEN-G   03-21 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN ECONOMY SEEN GROWING TWO PCT IN 1987</TITLE>
<DATELINE>    FRANKFURT, March 22 - </DATELINE><BODY>Bundesbank vice-president Helmut
Schlesinger said that although West German economic growth was
not expected to be satisfactory in the first 1987 quarter, two
pct growth was still attainable for the whole of the year.
    A further rise in the value of the mark would worsen export
prospects and have a negative effect on investments, he told
the Sueddeutsche Zeitung newspaper in an interview. But if such
an appreciation did not materialize, the economy would expand.
    The federal government has predicted a growth rate of 2-1/2
pct or more in its annual economic report published in January,
but some economists have said the forecast was too optimistic.
    Schlesinger said private consumption was likely to rise
strongly. Government expenditure and construction were also
expected to increase. But there was uncertainty about the
prospects for exports and investment.
    The Bundesbank had viewed with concern the money supply
overshoot in 1986, but the sharp rise was unlikely to have an
effect on inflation in the forseeable future. However, there
were potential dangers in the long run.
    Schlesinger said there was hope that in 1987 the West
German money supply would grow within the three to six pct
target zone set in December.
    Schlesinger said the dampening effect on inflation of the
drop in import prices could continue to a lesser degree for
some time. Prices in West Germany were likely to rise between
one and two pct this year.
    He said 1987 would be the fifth successive growth year for
the West German economy. Although there was a possibility of a
downturn at some stage in the future, there were no signs this
would happen in 1988.
    The main risks for the West German economy stemmed from its
close ties with the rest of the world, Schlesinger added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13592" NEWID="8071">
<DATE>21-MAR-1987 23:34:03.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0058&#31;reute
u f BC-ROSTENKOWSKI-QUESTION   03-21 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSTENKOWSKI QUESTIONS SECURITIES TAX</TITLE>
<DATELINE>    BOCA RATON, Fla., March 22 - </DATELINE><BODY>U.S. House Ways and Means
chairman Dan Rostenkowski said he questioned whether a U.S. Tax
on securities transactions would be appropriate.
    Rostenkowski, an Illinois Democrat, told Reuters before
addressing the Future Industry Association that such a tax
could impair the international competitiveness of the U.S.
Securities business.
    House Speaker James Wright, a Democrat of Texas, has said a
tax on securities transactions could help reduce the federal
deficit.
    Rostenkowski said he understood that Britain was exploring
the possibility of easing its tax burden on securities firms
and in that context a new U.S. Tax would be especially hard
felt by the domestic industry.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13593" NEWID="8072">
<DATE>21-MAR-1987 23:36:45.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0060&#31;reute
u f BC-ROSTENKOWSKI-SAYS-TAX   03-21 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSTENKOWSKI SAYS TAX RISE NEEDED, DIFFICULT</TITLE>
<DATELINE>    BOCA RATON, Fla., March 22 - </DATELINE><BODY>U.S. House Ways and Means
Committee Chairman Dan Rostenkowski said a tax increase
probably would be needed but that Congress and President Regan
might not approve one.
    Rostenkowski, an Illinois Democrat, also told the Futures
Industry Association that he did not think congressional tax
writers would approve a tax on stock transfers or ease taxes to
promote U.S. Exports.
    He congratulated House Speaker James Wright for proposing
tax increases to help cut the budget deficit.
    Rostenkowski said he hoped White House Chief of Staff
Howard Baker could persuade President Reagan to support a
package of tax increases and spending cuts.
    He noted that Baker and Treasury Secretary James Baker both
supported tax increases in l982.
    Rostenkowski suggested that about 18 billion dlrs of new
taxes might have to be found, along with nine billion in
defence and spending cuts and another nine billion in domestic
spending reductions. But, he said, proposed tax rises would be
brought to the floor only if House Democratic leaders felt
there was Republican support.
    A string of indictments of Wall Street figures could move
some in Congress to support a tax on stock transfers, he said.
    "But the fact many people don't like what's happening in
financial markets doesn't mean they will be hit with a tax," he
said, noting that Wright's securities tax idea had not been
"fleshed out."
    Efforts by special interests to rewrite provisions of the
tax reform bill will fall on deaf ears, Rostenkowski predicted.
    The chief House tax writer also predicted congress would
approve legislation to reform the welfare system.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13594" NEWID="8073">
<DATE>21-MAR-1987 23:51:41.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0063&#31;reute
u f BC-POLL-PUTS-BRITISH-ALL   03-21 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>POLL PUTS BRITISH ALLIANCE IN SECOND PLACE</TITLE>
<DATELINE>    LONDON, March 22 - </DATELINE><BODY>Britain's centrist Liberal-Social
Democratic Alliance has crept ahead of the opposition Labour
party to become the country's second political force, according
to a Gallup opinion poll.
    The poll, part of a survey carried out every week by Gallup
on behalf of the ruling Conservative party, showed the
Conservatives with an eight-point lead at 38.5 pct, the
Alliance at 30.5 and Labour at 30 pct.
    It was published in the Sunday Telegraph.
    But two other surveys, the MORI poll conducted for the
Sunday Times and the Harris poll published in the Observer
newspaper, gave Labour a nine-point lead over the Alliance.
    These polls showed 33 pct supported Labour against 26 pct
for the Alliance, a grouping of the Liberal Party and the
Social Democratic Party, while 39 pct backed the Conservatives.
    The Gallup poll results are the latest in a series of
setbacks for the Labour party, in disarray over its non-nuclear
policy and plagued by internal feuding.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13595" NEWID="8074">
<DATE>22-MAR-1987 00:00:04.61</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0001&#31;reute
u f BC-NIGERIA-CHANGES-AUCTI   03-21 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>NIGERIA CHANGES AUCTION RULES TO DEFEND THE NAIRA</TITLE>
<AUTHOR>    By Nick Kotch, Reuters</AUTHOR>
<DATELINE>    LAGOS, March 22 - </DATELINE><BODY>Nigeria's Central Bank has changed the
rules governing its foreign exchange auctions in what analysts
see as a means of defending the naira currency, which has
depreciated steadily.
    The bank said in a statement that from April 2, banks
bidding for foreign exchange would have to pay at the rate they
offered and not, as presently, at the rate of the lowest
successful bid made at the auction.
    This should discourage banks from bidding high to ensure
that they were successful while paying the lower "marginal" rate,
analysts said.
    "It should act as a brake because banks will know that if
they bid high they will have to pay what they offered," a
Western diplomat commented.
    The naira has depreciated against the dollar by 62 pct
since the auctions, known as the Second-Tier Foreign Exchange
Market (SFEM), began last September 26.
    At last week's session the Nigerian currency was fixed at
4.0 to the dollar, the third fall in a row.
    "They were clearly worried... And this is the logical way of
trying to stop the trend," the diplomat said.
    The Central Bank also announced the auctions would be
fortnightly, not weekly, beginning on April 2.
    It was not immediately clear whether next Thursday's
scheduled session would still take place, nor if the bank was
planning to double the 50 mln dlrs which are normally on offer
at each auction.
    Demand for foreign exchange has consistently outstripped
supply, encouraging banks to bid high and thus further
weakening the naira.
    If the normal weekly allocation is not doubled at the
fortnightly session, high demand could undermine the objective
of the new system, analysts said.
    Although bidding banks will now pay what they offered, the
official exchange rate for the naira applying to business
transactions will continue to be the marginal rate -- the
lowest successful bid.
    SFEM is a central part of Nigeria's structural adjustment
program, which is considered to be the most ambitious economic
recovery plan in Black Africa.
    The program involves setting a realistic exchange rate for
the naira, which was over-valued for many years, liberalising
imports, boosting agriculture, removing subsidies and reducing
inefficient government participation in the economy.
    The World Bank has played a prominent part in designing
this dramatic blue-print and in selling it to an often
sceptical public which fears inflation and lower living
standards.
    Ishrat Husain, the World Bank's representative in Nigeria,
said yesterday he was satisfied both with the adjustment
program as a whole and the foreign exchange auctions.
    "So far so good" he told a meeting of bankers in Lagos,
adding that only members of Nigeria's import-dependent elite
would suffer hardship while the common man would benefit.
    Fears that the program would encourage inflation were
incorrect, he said.
    Bumper harvests had reduced rural inflation and urban
prices had already reflected the naira's black market value
before the currency was allowed to find its true level last
September.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13596" NEWID="8075">
<DATE>22-MAR-1987 00:08:58.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0007&#31;reute
u f BC-ECONOMIST-CALLS-BRAZI   03-22 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIST CALLS BRAZIL DEBT REQUEST MODEST</TITLE>
<DATELINE>    SAN FRANCISCO, March 22 - </DATELINE><BODY>Brazil's attempt to seek better
terms for paying off its 109 billion dlr foreign debt is
responsible and modest, a former chairman of President Reagan's
Council of Economic Advisers said.
    "I think that what Brazil is calling for -- limiting its
debt payments to two and one half pct of GNP -- is a
responsible request on their part," economist Martin Feldstein
said at a news conference.
    "It requires additional money on the part of the banks, but
rather modest additional amounts."
    Feldstein is attending the annual meeting of the Trilateral
Commission, a foreign policy group of more than 300 business
and government leaders from North America, Europe and Japan.
    Feldstein, one of four members of a task force on Third
World debt, said that Brazil's request would mean an additional
credit of three billion to four billion dlrs from banks and
international agencies.
    "Brazil's debt would increase in dollar terms but remain
constant in real terms. The four billion dlr increase in
Brazil's 100 billion dlr debt would represent no increase in
the real inflation-adjusted size of its liability," he said.
    Feldstein said he believed current Third World debt
problems were less serious than those faced by the
international monetary system in 1983 and 1985.
    However, the European representative on the task force,
Herve de Carmoy, chief executive international for Midland Bank
PLC, disagreed.
    He called the present situation more difficult and, in a
draft proposal included in the task force's report, suggested
setting up an institution, possibly within the World Bank, with
a fund that could deal with a future debt crisis.
    Commission discussions were closed to reporters but it was
apparent from the news conference that task force members did
not agree on all points in their report.
    One point of agreement, Feldstein said, was that debtor
countries would need additional credit in the coming years if
they are to enjoy satisfactory growth.
    Feldstein said the task force, which also included Koei
Narusawa, economic adviser to the president of the Bank of
Toyko, and Paul Krugman, professor of economics at the
Massachusetts Institute of Technology, did not agree on how
much credit would be needed.
    He said they also did not reach a consensus on how willing
international banks, particularly those in Japan and Europe,
would be to lend the money.
    The Trilateral Commission was set up in 1973 by David
Rockefeller, former head of Chase Manhattan bank, and others to
promote closer cooperation among the three regions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13597" NEWID="8076">
<DATE>22-MAR-1987 00:18:26.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>sarney</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0012&#31;reute
u f BC-SARNEY-MEETS-BRAZIL-B   03-22 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SARNEY MEETS BRAZIL BUSINESS LEADERS</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SAO PAULO, March 22 - </DATELINE><BODY>President Jose Sarney, whose handling
of the economy is under attack at home and abroad, has held
private talks with Brazilian business leaders worried that
government policies are leading to recession.
    Over an informal barbecue at a farm outside Sao Paulo owned
by millionaire entrepreneur Matias Machline, Sarney met more
than 20 businessmen for discussion on Brazil's economic crisis.
    Business leaders said before the meeting they would be
pressing for less government interference in what they describe
as a tightly regulated economy.
    Their concerns include the country's high rates of interest
and tough restrictions on imports.
    Machline, president of the Sharp electronics group and a
personal friend of Sarney's, told television reporters outside
his farm that he wanted "less government participation in the
economy."
    When the government announced a month ago that it was
suspending interest payments on Brazil's 68 billion dlr debt to
commercial banks, it said this was a means of ensuring growth
and avoiding recession.
    But business leaders and economic analysts say there are
growing signs that Brazil's economy, the eighth biggest in the
non-communist world, is heading for a downturn after 8 pct
growth last year.
    Businessmen are deeply concerned about the effect on
industry of import restrictions introduced earlier this year
because of the country's deteriorating trade balance.
    Cacex, the foreign trade department of the federally owned
Banco do Brasil, has told companies they must limit their
imports to 90 pct of what they imported in 1985.
    Business sources say that in practice importing even this
amount is difficult and they have to haggle with Cacex on a
case-by-case basis.
    The business daily Gazeta Mercantil reported that in many
sectors of the economy there was a real fear that production
lines would grind to a halt next month.
    One of those attending the talks was Mario Amato, head of
the powerful Sao Paulo State Industries' Federation (FIESP).
    Business sources said he would argue that unless there were
a relaxation in import controls a sharp downturn in industrial
activity was inevitable.
    Relations between Sarney and the business community have at
times been strained and the existence of these tensions pointed
up the importance of the meeting.
    In one bizarre dispute in January, Sarney surprised
Brazilian business leaders by declaring that they were allies
of the 19th century anarchist Mikhail Bakunin. This outburst
came after Amato warned that companies might start disobeying
government regulations on price controls.
    Brazilian press reports made much of the fact that Finance
Minister Dilson Funaro, chief architect of the government's
economic policy, had not been invited to the gathering.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13598" NEWID="8077">
<DATE>22-MAR-1987 00:32:49.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0017&#31;reute
u f BC-U.S.,-LATIN-NATIONS-D   03-22 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S., LATIN NATIONS DELAY DECISION ON IADB</TITLE>
<AUTHOR>    By Peter Torday, Reuters</AUTHOR>
<DATELINE>    MIAMI, March 22 - </DATELINE><BODY>The United States and major Latin
American nations agreed to set aside sharp differences over
control of the Inter-American Development Bank (IADB) and
reconsider the issue this summer.
    The bank's policy-making board of governors, meeting here
ahead of this week's IADB annual meetings, put off any
decisions when it became apparent differences between
Washington and the Latin countries ware too great.
    IABD officials said Washington had indicated, however, it
might be prepared to compromise in the future.
    The United States is the principal donor nation and has
pressed the bank, controlled by the Latin American borrowing
nations, to cede virtual veto power over loans to Washington.
    The Reagan administration wants to make the bank part of
its controversial strategy to resolve the debt crisis.
    The U.S. Plan calls for loans from multilateral banks like
the IADB to be tied to economic reforms in debtor nations which
would promote open markets, reduced government intervention and
inflation-free economic growth.
    Brazil, which declared an interest payments moratorium last
month, is leading a challenge to Washington's strategy and
officials here obviously feared any decisions that might deepen
rifts between the United States and Third World nations.
    IADB officials also said Washington hinted at future
compromise. "The U.S. Said it remains hopeful they can reach an
agreement and expressed optimism that such a consensus could be
reached," said an official who asked not to be named.
    Washington has threatened to scuttle a 20-25 billion dlr,
four-year capital replenishment for the bank if the veto issue
is not resolved.
    But it has asked Congress to give it authority to finance
its one-third share in the event agreement on voting power is
reached. The United States controls 34.5 pct of the vote and
wants a loan veto to exist at the 35 pct level.
    Currently, a simple majority can approve or disapprove
loans giving the borrowing nations control of the purse strings
and resulting in loan conditions too lax for Washington's
taste.
    The U.S. Strategy for dealing with the debt crisis is
expected to be repeated by Treasury Secretary James Baker in a
speech to the bank's annual meeting on Monday.
    But monetary sources expect Baker to suggest the United
States has some room for compromise and also to fend off other
challenges to its strategy by signalling Washington is open to
innovative solutions to the debt problem.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13599" NEWID="8078">
<DATE>22-MAR-1987 00:53:12.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>cuba</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0022&#31;reute
u f BC-SPAIN-GIVES-CUBA-25-M   03-22 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN GIVES CUBA 25 MLN DLR CREDIT LINE</TITLE>
<DATELINE>    HAVANA, March 22 - </DATELINE><BODY>Spain has granted Cuba a 25 mln dlr
credit line for the purchase of Spanish goods and services in
the iron and steel industry, the repair of fishing boats and
development of industrial projects, Prensa Latina said.
    The credit line was agreed by a joint economic/industrial
commission.
    The commission also discussed the possible participation of
spanish companies in the Cuban tourist industry.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13600" NEWID="8079">
<DATE>22-MAR-1987 01:06:32.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE><D>ciampi</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0023&#31;reute
u f BC-CALABRIAN-BANK-TAKEN   03-22 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>CALABRIAN BANK TAKEN OVER BY COMMISSIONERS</TITLE>
<DATELINE>    ROME, March 22 - </DATELINE><BODY>Bank of Italy governor Carlo Ciampi
appointed three commissioners to take over the temporary
running of the Cassa di Risparmio di Calabria e Lucania
(Carical).
    The announcement, in a Bank of Italy statement, followed
the decision on Friday by Treasury Minister Giovanni Goria to
send in special commissioners after accepting the resignation
of Carical president Francesco Sapio and hearing a report
detailing "serious irregularities" at the bank.
    Goria's decision was taken in line with a provision in
Italy's banking legislation which allows the Treasury to
dissolve administrative bodies in the case of "serious
management irregularities or serious violations of legal and
statutory norms" that regulate credit institutions.
    Senior officials declined to give details of the
irregularities that had come to light at Carical, whose
activities are concentrated in Calabria in the toe of Italy.
    The Bank of Italy statement said the three special
commissioners would work under the control of the Bank of Italy
with the aim of safeguarding the interests of depositors, and
ensuring the normal running of Carical until a solution to its
"present problems" could be found.
    The statement said it was hoped a solution could be found
as soon as possible.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13601" NEWID="8080">
<DATE>22-MAR-1987 01:18:07.74</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0026&#31;reute
u f BC-NEXT-WORLD-TRADE-NEGO   03-22 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>NEXT WORLD TRADE NEGOTIATIONS MUST SUCCEED - NZ</TITLE>
<AUTHOR>    By Christopher Pritchett, Reuters</AUTHOR>
<DATELINE>    TAUPO, New Zealand, March 22 - </DATELINE><BODY>Ministers from more than 20
nations were told by New Zealand that the next international
negotiations on liberalising trade would be the last this
century and the cost of failure could not be measured.
    Trade minister Mike Moore told his colleagues at a
welcoming ceremony before two days of talks here that great
progress had been made in preparing for the negotiations which
must not be sidetracked.
    "We live in troubled and dangerous times for the world
trading system," he said.
    "We have seen that the failure of the world trading system
has caused great depression and conflict in the past. Our
failure to maintain the momentum will be at great cost to us
all," Moore said.
    He added: "The cost of failure is beyond calculation. It is
our last hope and best opportunity this century. We will not
get another chance before the year 2000."
    The ministers are in New Zealand to review world trade
since the "Uruguay round" talks last Sepember. The meeting is
also part of preparations for a full-scale conference of the
General Agreement on Tariffs and Trade (GATT) in Venice in
June.
    The Uruguay meeting is considered by most countries to have
been particularly successful, with northern hemisphere
countries managing to have service industries such as banking
and insurance included in the next full round.
    The southerners' goal of including agricultural and
tropical products also was met.
    The meeting at this North Island tourist resort is
described by participants as informal and no declaration is
expected.
    Moore said one aim was to "instil a sense of political
urgency to avert potential economic tragedy."
    Another was to seek ways of popularising freer trade to
people who felt the pain of readjustment but could not see the
benefits, as well as preventing "bush fires of confrontation
while we proceed with orderly negotiations."
    The meeting is being attended by 25 overseas delegations
including representatives of GATT and the Economic Community.
    The delegates include U.S. Trade Representative Clayton
Yeutter.
    American sources say he is ready to state that the best way
to reverse protectionist sentiment in the United States is to
implement four key Uruguay proposals:
    -- an end to agricultural subsidies;
    -- inclusion of trade in services and investments in GATT
regulations;
    -- tightening of restrictions on pirating of so-called
intellectual property such as trademarks, patents and
copyrights;
    -- new rules to resolve trade disputes among GATT's 92
member states.
    Earlier, New Zealand sources had said French Foreign Trade
Minister Michel Noir had pulled out of the informal GATT talks
for domestic political reasons.
    Cabinet chief Bernard Prauge will lead the French
delegation.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13602" NEWID="8081">
<DATE>22-MAR-1987 01:32:43.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0032&#31;reute
u f BC-FRANCE-TO-SIGN-DISNEY   03-22 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE TO SIGN DISNEYLAND CONTRACT ON TUESDAY</TITLE>
<DATELINE>    PARIS, March 22 - </DATELINE><BODY>The French government said it would sign
a contract with &lt;Walt Disney Co> on Tuesday for the
construction of Europe's first Disneyland amusement park.
    A statement from the office of Prime Minister Jacques
Chirac said the project, which will cost some 12 billion
francs, would create up to 30,000 jobs and be built outside
Paris.
    Funding will be provided by a combination of bank loans,
preferential financing by the French state and private
investment. France has also agreed to invest two billion francs
to extend rail and road links.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13603" NEWID="8082">
<DATE>22-MAR-1987 01:35:23.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0033&#31;reute
u f BC-FRANCE,-BONN-REACH-AC   03-22 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE, BONN REACH ACCORD ON HELICOPTER DESIGN</TITLE>
<DATELINE>    PARIS, March 22 - </DATELINE><BODY>France and West Germany have reached
broad agreement on design specifications for a joint combat
helicopter for the 1990s, the French Defence Ministry said.
    A ministry spokesman said French Defence Minister Andre
Giraud and his West German counterpart Manfred Woerner had
"agreed in principle" on a common concept for the helicopter
during talks in Bonn on Friday.
    A joint commission will now be formed to work with firms
involved in project and present a final report by July, he
added.
    The project, first drafted in 1984, calls for the French
company &lt;Aerospatiale> and &lt;Messerschmitt-Boelkow-Blohm> of
Munich to develop and build 400 helicopters for the French and
West German armed forces.
    Its development, seen as a test of Europe's ability to
collaborate on arms projects, has been dogged by different
views on what type of helicopter to build and how to equip it.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13604" NEWID="8083">
<DATE>22-MAR-1987 01:42:45.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0035&#31;reute
u f BC-YUGOSLAV-BANKS-MISHAN   03-22 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>YUGOSLAV BANKS MISHANDLED FUNDS, PAPER SAYS</TITLE>
<DATELINE>    BELGRADE, March 22 - </DATELINE><BODY>More than half of Yugoslavia's banks
have broken the law by mishandling millions of dollars worth of
funds, a leading Yugoslav newspaper said.
    The daily Borba, official organ of the Yugoslav Socialist
Alliance, said 88 of Yugoslavia's 174 commercial banks had used
57 billion dinars for illegal purposes.
    Prime Minister Branko Mikulic told Parliament last month
that 75 banks had been found to have misused funds by the end
of 1986, involving 51 billion dinars. He said the offences had
boosted inflation, now running close to an annual 100 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13605" NEWID="8084">
<DATE>22-MAR-1987 01:46:41.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0036&#31;reute
u f BC-INDONESIA-WILL-NEED-N   03-22 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA WILL NEED NEW SATELLITES BY 1995</TITLE>
<DATELINE>    JAKARTA, March 22 - </DATELINE><BODY>Indonesia will need a new generation of
satellites by 1995 at the latest to link the giant archipelago
of 13,000 islands, Telecommunications minister Achmad Tahir was
quoted as saying.
    Speaking after the successful launch on Friday of a new
Indonesian communications satellite from Cape Canaveral,
Florida, Tahir said that a new generation of satellites was
very important for Indonesia's domestic communications system.
    He was quoted by Indonesia's official Antara news agency as
saying the government would start work straight away on
preparations and studies for the next generation of satellites.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13606" NEWID="8085">
<DATE>22-MAR-1987 01:49:17.41</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>philippines</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0037&#31;reute
u f BC-AUSTRALIAN-OFFER-FOR   03-22 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN OFFER FOR SAN MIGUEL SHARES</TITLE>
<DATELINE>    MANILA, March 22 - </DATELINE><BODY>Diversified investment company, &lt;Ariadne
Australia Ltd>, has offered 3.8 billion pesos for 38 mln shares
in the Philippine brewing firm &lt;San Miguel>, a Manila newspaper
reported.
    The Sunday Times quoted a letter sent yesterday to
President Corazon Aquino from Ariadne's chairman, New Zealander
Bruce Judge, that he was offering cash equivalent to five pct
of the nation's yearly budget to buy the shares from the
government.
    The presidential office and Ariadne representatives in
Manila were not available for comment on the report.
    The shares are the entire block seized by the government
from the United Coconut Planters Bank (UCPB) on suspicion that
the real owner was Eduardo Cojuangco, the former chairman of
San Miguel and UCPB and a close associate of deposed president
Ferdinand Marcos.
    The 38 mln shares consist of 24 mln class A stock and 14
mln class B shares.
    Government officials have said earlier that the more
valuable class A shares would not be sold to foreigners.
    The offer values each share at 100 pesos -- the price at
which the Philippine Social Security System suggested it might
buy eight mln class A shares last week.
    "Judge's offer of 3.8 billion pesos is about five pct of the
Philippines' yearly budget," Ariadne's Philippine agent Domingo
Panganiban was quoted as telling reporters yesterday.
    "Mr Judge's objective in this investment is to make his
corporation's management expertise available to San Miguel so
that the company's assets can be fully utilised."
    San Miguel, the country's largest brewer, is also one of
the major manufacturers of grocery lines.
    Panganiban is quoted as saying that San Miguel could tap
food and liquor distribution lines in Australia, Britain, the
U.S., New Zealand and Hong Kong through &lt;Barwon Farmlands Ltd>,
a listed Australian firm in which it has 30 pct equity.
    Ariadne, with about one billion dlrs in assets and turnover
of about two billion, has interests also in mining, real estate
and agricultural products.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13607" NEWID="8086">
<DATE>22-MAR-1987 01:57:16.27</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0041&#31;reute
u f BC-INDONESIA-PROTESTS-AG   03-22 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA PROTESTS AGAINST EC VEGETABLE OIL DUTY</TITLE>
<DATELINE>    JAKARTA, March 22 - </DATELINE><BODY>Indonesia has protested to the European
Community (EC) about its plan to raise import duties on
vegetable oils, which will affect the country's palm oil
exports to the EC, Trade Minister Rachmat Saleh said.
    "Indonesia, both individually and together with other
members of the Association of South-East Asian Nations (ASEAN),
has protested against the EC plan to increase duties on
vegetable oil imports," he told Indonesian reporters.
    "We very much regret the community's plan," he added.
    He did not say in what form the Indonesian protest was
made.
    Indonesia is a major palm oil producer.
    According to central bank figures, Indonesia exported
362,700 tonnes of crude palm oil to EC countries in calendar
1985 and 301,400 tonnes in the first 10 months of 1986.
Complete 1986 figures are not yet available.
    Finance Minister Radius Prawiro said recently that the
increase in EC duties would add a new burden to ASEAN countries
at a time when they were trying to strengthen their economies
in the face of lower commodity prices.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13608" NEWID="8087">
<DATE>22-MAR-1987 02:08:39.84</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0043&#31;reute
u f BC-ALITALIA-SPA-&lt;AZPI.MI   03-22 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>ALITALIA SPA &lt;AZPI.MI> CALENDAR 1986</TITLE>
<DATELINE>    SANREMO, March 22 -
    </DATELINE><BODY>Provisional net profit 55 billion lire vs 48 billion
    Turnover 3,750 billion vs 3,369 billion.
    NOTE -  Official results for Alitalia, Italy's national
airline which is controlled by the state industrial holding
company (Istituto per la Ricostruzione Industriale -IRI), are
expected to be announced at an annual shareholders meeting in
April.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13609" NEWID="8088">
<DATE>22-MAR-1987 04:45:50.23</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>uae</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>gcc</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0044&#31;reute
r f BC-RAIMOND-EXPECTS-EC-GU   03-22 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>RAIMOND EXPECTS EC-GULF PROBLEMS WILL BE SOLVED</TITLE>
<DATELINE>    ABU DHABI, March 22 - </DATELINE><BODY>French Foreign Minister Jean-Bernard
Raimond predicted in a published interview a successful end to
negotiations to admit Gulf petrochemical exports into the
European Community (EC).
    Negotiations have been under way between the Community and
the six-nation Gulf Cooperation Council (GCC) for three years.
    Raimond, due here tomorrow from Oman for his first official
visit to the United Arab Emirates (UAE), told the semi-official
daily Al-Ittihad he was confident a solution would soon be
reached.
    "I am confident that problems between the two big partners,
the GCC and the EC, will find a solution. I will work to reach
that solution," he said in the interview conducted in Paris.
    An EC decision to impose tariffs on Gulf petrochemical
exports over a set quota has strained trade relations between
the two sides.
    GCC members Saudi Arabia, Kuwait, Bahrain, Qatar, the UAE
and Oman are threatening to impose heavy customs duties on
European exports to the Gulf if no solution is reached.
    Raimond said negotiations between the two groups took a
long time because there were 20 countries involved. But added:
"Time is now ripe and all circumstances are appropriate for
making crucial progress."
    Referring to the Iran-Iraq war, he said efforts should
continue to find a solution despite prevailing difficulties.
    He said France was continuing negotiations with Iran. Some
problems were solved as a result of the contacts while others
remained unresolved. He gave no details but said: "France wishes
to have normal relations with Iran."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13610" NEWID="8089">
<DATE>22-MAR-1987 04:52:25.73</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0047&#31;reute
r f BC-EXPLOSION-AT-BP-OIL-R   03-22 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>EXPLOSION AT BP OIL REFINERY IN SCOTLAND</TITLE>
<DATELINE>    GRANGEMOUTH, Scotland, March 22 - </DATELINE><BODY>An explosion followed by
a fire ripped through a British Petroleum (BP) oil refinery,
killing one man.
    A BP spokesman said the fire was confined to one plant at
the 700-acre refinery at Grangemouth, 25 miles west of
Edinburgh. The cause and extent of the damage had yet to be
determined.
    Two people were killed in a previous explosion and fire at
the plant on March 13. That incident is still being
investigated, the spokesman said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13611" NEWID="8090">
<DATE>22-MAR-1987 05:06:28.74</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;f0049&#31;reute
u f BC-FOREIGN-SHARE-OF-GERM   03-22 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN SHARE OF GERMAN CAR MARKET FALLS</TITLE>
<DATELINE>    FLENSBURG, March 22 - </DATELINE><BODY>Foreign manufacturers' share of the
West German new car market fell to 30.8 pct in the first two
months of this year from 33.3 pct in January/February 1986, the
Federal Motor Office said.
    Foreign producers' sales totalled 58,484 in February
compared with 64,967 in February 1986, with sales in the first
two months declining to 103,368 from 132,105 units in the
year-earlier period.
    Japan was the largest exporter to West Germany although its
share fell to 12.8 pct from 13.9 pct, France took 7.7 pct after
8.6 pct, while Italy's share rose to 5.9 pct from 5.5 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13612" NEWID="8091">
<DATE>22-MAR-1987 05:12:58.07</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>australia</D><D>hong-kong</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0051&#31;reute
u f BC-AUSTRALIAN-PLANS-PHIL   03-22 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN PLANS PHILIPPINE BRANCH FOR TAKEOVER</TITLE>
<DATELINE>    HONG KONG, March 22 - </DATELINE><BODY>The Australia based &lt;Ariadne
Australia Ltd>, plans to set up a branch in the Philippines to
fulfill a prerequisite for the takeover of the Philippine
brewing firm, &lt;San Miguel Corp>, a Hong Kong newspaper said.
    The Hong Kong Economic Journal quoted a spokesman of
Australian stock broker Jacksons Ltd as saying that &lt;Barwon
Farmlands Ltd>, a listed Australian firm of which Ariadne owns
a 30 pct stake, is planning a branch in the Philippines.
    He added Jacksons is arranging an offer by Barwon to pay a
total 3.8 billion pesos in cash for 38 mln San Miguel shares.
    Barwon is offering 100 pesos each for 24 mln class A San
Miguel shares and 14 mln class B stock. But the Jacksons
spokesman noted that the more valuable A stock would only be
sold to Filipinos or companies registered in the Philippines.
    He said Barwon has approached the Philippine government
which seized the block of shares from the United Coconut
Planters Bank, which is believed to be linked with the
country's deposed President Ferdinand Marcos.
    He added he expects a deal to be concluded between Barwon
and the Philippine Government in 14 days as it is the only
offer in cash, the newspaper reported.
    Hong Kong Economic Journal also noted stock market rumours
that &lt;Neptunia Corp>, a Hong Kong registered company which
controlled by San Miguel's president Andres Soriano, is the
other party keen on the block of San Miguel shares.
    The Philippine's Commission on Good Government ruled last
May against a move of Neptunia to acquire 33 mln San Miguel
shares controlled by the brewery firm's former chairman Eduardo
Cojuangco, who is also chairman of United Coconut.
    Commissioner Ramon Diaz said at the time the government
would not allow a subsidiary to buy into a parent firm, adding
San Miguel could have offered the shares to other parties.
    The Manila newspaper Sunday Times published a letter sent
yesterday to President Corazon Aquino from Ariadne's chairman,
New Zealander Bruce Judge, that he was offering cash equivalent
to five pct of the nation's yearly budget to buy the shares
from the government.
    "Judge's offer of 3.8 billion pesos is about five pct of the
Philippines' yearly budget," Ariadne's Philippine agent Domingo
Panganiban was quoted as telling reporters yesterday.
    Spokesmen of Ariadne, Jacksons and Neptunia were not
available for comment, nor any officials of the Philippines.
    &lt;San Miguel Brewery Ltd>, a Hong Kong listed company which
is 69.65 pct held by Neptunia on behalf of San Miguel Corp,
closed 40 cents higher at 15.50 H.K. Dlrs on Friday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13613" NEWID="8092">
<DATE>22-MAR-1987 05:54:39.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0058&#31;reute
u f BC-WORKERS-AT-SPANISH-GM   03-22 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>WORKERS AT SPANISH GM UNIT CALL STRIKE</TITLE>
<DATELINE>    MADRID, March 22 - </DATELINE><BODY>Workers at &lt;General Motors Espanola
S.A.> have called for five days of strikes next month in a
dispute over this year's wage increase, union sources said.
    They said the unofficial strike calendar had been set for
April 2, 7, 8, 21 and 22.
    The workers are seeking a wage rise above this year's five
pct inflation target set by the government. The government and
employers' organisations have urged companies to hold wage
rises below this level.
    Average wages rose 8.2 pct last year compared with an 8.3
pct increase in the cost of living.
    General Motors Espanalo was the top sales performer last
year among Spain's six car manufacturers.
    The Saragossa-based plant reported a 53.1 pct rise in
domestic sales to 538,654 units.
    Ford Espana S.A. Was second with a 27.8 pct gain over 1985.
    General Motors Espanola is 100 pct owned by General Motors
Corp &lt;GM.N> and Ford Espana is wholly-owned by Ford Motor Co
&lt;F.N>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13614" NEWID="8093">
<DATE>22-MAR-1987 06:07:09.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>iraq</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0060&#31;reute
u f BC-HUSSEIN-SAYS-IRAN'S-Y   03-22 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>HUSSEIN SAYS IRAN'S YEAR OF DECISIVENESS FOILED</TITLE>
<DATELINE>    BAGHDAD, March 22 - </DATELINE><BODY>President Saddam Hussein said Iraq had
foiled Iran's promise of a decisive victory in their war but
acknowledged the latest fighting cost his nation higher losses
than previous battles.
    Hussein warned his frontline troops to expect further
Iranian attacks to spoil celebrations being organised
throughout Iraq to mark what Baghdad has hailed as the failure
of Iran's so-called year of decisiveness.
    Iran's leadership had pledged a decisive breakthrough in
the 6-1/2-year-long war in the Persian year -- which ended
yesterday -- and mounted a major offensive towards Iraq's
second city of Basra, on the southern front, in January.
    Iraq has never given any casualty figures but Hussein
conceded they were high.
    "It was clear to all of us the fighting this time would be
long and severe with more blood flowing than in previous
battles and that we would lose more of our loved ones than we
have before," he said in a speech read on radio and television.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13615" NEWID="8094">
<DATE>22-MAR-1987 06:16:41.37</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0062&#31;reute
u f BC-ALITALIA-REPORTS-HIGH   03-22 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>ALITALIA REPORTS HIGHER NET PROFITS</TITLE>
<DATELINE>    SANREMO, March 22 - </DATELINE><BODY>Italy's national airline, Alitalia Spa
&lt;AZPI.MI>, reporting a 14.6 pct rise in provisional 1986 net
profit, said it carried seven pct more passengers on domestic
routes last year, but 11.5 pct fewer passengers on flights from
North America and Canada.
    Alitalia said the drop in North American traffic had been
due to a general fall in the numbers of American tourists
visiting Europe caused by fears of terrorism.
    The airline reported provisional net profit rose to 55
billion lire from 48 billion in 1985.
    A spokesman said Alitalia was hoping for an increase in
traffic with the U.S. In 1987.
    It planned to increase the number of flights from Italy to
New York to 19 per week, to reinstate flights to Boston and to
re-open the direct Rome-Milan-Los Angeles service.
    The spokesman announced that from March 29, Alitalia would
be starting a new weekly service to Shanghai.
    For its summer 1987 programme, it would be adding 127 extra
flights to European destinations -- an increase of 27 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13616" NEWID="8095">
<DATE>22-MAR-1987 06:42:31.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>saudi-arabia</D></PLACES>
<PEOPLE><D>king-fahd</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0065&#31;reute
u f BC-SAUDI-ARABIA'S-KING-F   03-22 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI ARABIA'S KING FAHD VISITS BRITAIN THIS WEEK</TITLE>
<AUTHOR>    By Deborah Telford, Reuters</AUTHOR>
<DATELINE>    LONDON, March 22 - </DATELINE><BODY>King Fahd of Saudi Arabia begins a
four-day state visit on Tuesday which will focus on redressing
Britain's large trade surplus with the kingdom and reaffirming
ties between the traditionally close countries.
    British officials said King Fahd may ask Britain to restore
diplomatic relations with Syria, broken off by London last
October after evidence in the trial of Nizar Hindawi showed
Syrian agents were behind a plan to bomb an Israeli airliner.
    But one official said the king would be told Britain still
needs "clear and sustainable evidence that the Syrians have
renounced state-sponsored terrorism. So far they haven't."
    Britain will stress its support for an international peace
conference on the Middle East and its concern over alleged
human rights abuses by Israel in the occupied West Bank and
Gaza, the officials told Reuters.
    The Saudi leader will hold talks with Prime Minister
Margaret Thatcher and meet Queen Elizabeth and Prince Philip
during the visit, his first to Britain since he assumed power
in June 1982.
    King Fahd will be accompanied by his trade, defence, oil
and health ministers, who will hold talks with their British
counterparts.
    Relations between the two countries have generally been
warm. But they were strained last year by the deportation of 35
British nurses from the kingdom for illegal drinking and the
publication of a letter by a retired British ambassador
describing Saudi Arabians as incompetent and arrogant.
    Saudi Arabia is Britain's largest export market in the
Middle East.
    Britain exported 1.5 billion stg worth of goods to Saudi
Arabia last year while British imports from that country in the
same period totalled 436 mln.
    Trade officials will discuss what countertrade Britain can
offer in return for Riyadh giving London its biggest-ever arms
export order.
    Under the five billion stg deal signed last year, Saudi
Arabia has agreed to buy 132 warplanes including 72 Tornado
fighters.
    Saudi Oil Minister Hisham Nazer is likely to discuss oil
price stabilisation but Britain would not change its refusal to
limit its North Sea oil production and exports, officials said.
    Saudi Arabia, the world's biggest oil exporter, has asked
all oil-producing countries to help stabilise oil prices at 18
dlrs a barrel by curbing output and exports.
    King Fahd's trip follows several visits to Saudi Arabia by
British officials in recent months. Britain's Prince Charles
and Princess Diana went to Saudi Arabia in November.
    There were two previous state tours of Britain by Saudi
monarchs. King Faisal visited in 1967 and King Khaled in 1981.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13617" NEWID="8096">
<DATE>22-MAR-1987 07:54:19.48</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>jordan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0076&#31;reute
u f BC-RAFIDAIN-BANK'S-JORDA   03-22 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>RAFIDAIN BANK'S JORDAN BRANCH RAISES CAPITAL</TITLE>
<DATELINE>    AMMAN, March 22 - </DATELINE><BODY>The Jordan branch of Iraq's Rafidain Bank
said it will raise paid-up capital to comply with the country's
minimum requirement of five mln dinars by drawing on profits
from its operations in the country.
    Jordan's government asked banks in early 1985 to comply
with the new capital requirement -- raised from three mln
dinars -- by the start of 1986.
    Rafidain's Area Manager Adnan Abdul Karim al-Azzawi told
Reuters the branch had now registered its capital at the higher
level but did not say how long it would take to pay it in. The
bank's 1986 balance shows paid-up capital of 3.1 mln dinars.
    Banks in Jordan have generally complied with the higher
capital requirement except Chase Manhattan which decided
instead to close its operation, banking sources said.
    Local banks floated shares to raise extra capital, while
the branches of foreign banks brought in additional cash.
    Banking sources said it appeared that Jordan had made an
exception in Rafidain's case, allowing it longer to comply.
They said the gesture refelcted close political ties between
Jordan and Iraq as well as Baghdad's financial difficulties.
    The Jordan branch saw pre-tax profit rise 80 pct in 1986 to
550,332 dinars on assets of 12.6 mln dinars.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13618" NEWID="8097">
<DATE>22-MAR-1987 19:04:43.39</DATE>
<TOPICS><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0094&#31;reute
u f BC-BAKER-DENIES-DOLLAR-T   03-22 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER DENIES DOLLAR TARGET EXISTS</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>U.S. Treasury Secretary James Baker
again said the meeting of six major industrial nations in Paris
last month did not establish a target exchange rate for the
dollar.
    Baker said in a television interview aired here yesterday:
"We don't have a target for the dollar." He declined to comment
on what might be a desired level for the dollar, saying: "We
really don't talk about the dollar."
    He said protectionism was becoming "extremely strong" in the
U.S. In response to widening U.S. Trade deficits and import
barriers in other countries.
    "The mood in the United States is extremely disturbing. It's
extremely strong," he said.
    "As I've said before, we sort of see ourselves as engaged
here in a real struggle to preserve the world's free trading
system, because if the largest market in the world (the U.S.)
goes protectionist we run the risk of moving down the same path
that the world did in the late 1930s," he said.
    While relative exchange rates had a role to play in
defusing the threat of protectionism, it alone did not offer
any solution, he said.
    "You must address this problem on the exchange rate side,
but it cannot be solved on the exchange rate side alone. It's
far more comprehensive and broad than that, and the solution of
it requires a comprehensive approach," Baker said in the
interview.
    Baker said it would be necessary for other countries to
adjust their currencies upwards, as well as remove their
barriers to U.S. Imports. But he did not elaborate or name any
countries.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13619" NEWID="8098">
<DATE>22-MAR-1987 19:22:20.02</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C G L M T
&#22;&#22;&#1;f0098&#31;reute
u f BC-U.S.-CREDIT-MARKET-OU   03-22 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CREDIT MARKET OUTLOOK - MINI-REFUNDING</TITLE>
<AUTHOR>    By Claire Miller, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>A hefty slice of new U.S. Treasury
supply is not the most welcome prospect for a slumbering credit
market, but at least this week's offerings should provide it
with some focus, economists said.
    "Banks and mutual funds have cash that should be put to
work, so the auctions should breathe some life into the market,"
said economists at Merrill Lynch Capital Markets Inc.
    The Treasury will place a 25 billion dlr package of
two-year, four-year and seven-year notes on the sales block
this week.
    The "mini-refunding," which will raise 9.27 billion dlrs in
new cash, comprises 10 billion dlrs of two-year notes for
auction on Tuesday, 7.75 billion dlrs of four-year notes on
Wednesday and 7.25 billion dlrs of seven-year notes on
Thursday. The market also faces the regular weekly three- and
six-month bill auction today, amounting to 12.8 billion dlrs.
    The mini-refunding does not come at a particularly
auspicious time for the market. Bond prices have been drifting
sideways in a narrow range against the backdrop of a cloudy
U.S. Economic outlook, diminished chances of a change in
Federal Reserve Board policy and a stable dollar.
    Moreover, the bond market's inertia has compared
unfavourably with the rash of activity taking place in
high-yield markets overseas, like the U.K., As well as in U.S.
Equities.
    But according to the Merrill Lynch economists, there are
signs the pall hanging over the U.S. Bond market is lifting a
bit.
    "Customer activity has been light, but all on the buy-side,
and there is a marked absence of selling," they said in a weekly
report.
    Philip Braverman of Irving Trust Securities Inc believes
banks will snap up the two- and four-year issues at this week's
sales.
    "The banks are in need of investments that provide earnings.
Though the yield spread to the cost of carrying these
maturities has been wider, it is still positive," he said in a
weekly market review.
    But economists agreed not even the auctions will generate
enough impetus for a major move. This will only come once the
overseas markets have had their run.
    "Based on last week's events, there is little to indicate
that the appetite for yield has begun to wane," said economists
at Salomon Brothers Inc.
    Indeed, talk persisted last week that Japanese investors
are planning to re-weight their portfolios in favour of the
higher-yielding markets at the start of Japan's new fiscal year
on April 1.
    And while traditionally the Japanese have not been big
buyers of the shorter-dated issues on offer at this week's U.S.
Auctions, such reports undermine market confidence.
    Even actions by the British, Australian and Canadian
monetary authorities to curb the rise of their currencies
should also enhance the attractiveness of their respective bond
markets, the Salomon Brothers' economists said.
    Meanwhile, ecomomic releases are unlikely to enliven the
U.S. Market unless they deviate widely from expectations,
economists said.
    This week's economic calendar begins on Tuesday with
February durable goods orders. Economists expect a rebound from
January's depressed levels.
    Peter Greenbaum of Smith, Barney, Harris Upham and Co said
several areas, including transport equipment, should have
bounced back. But a decline in military capital goods will cap
total new orders. He forecasts a rise of two pct after
January's 6.7 pct slump. Some other economists foresee a gain
as large as five pct.
    Friday's consumer price report for February is expected to
show an increase of about 0.3 pct after a 0.7 pct January gain.
Economists said energy prices -- the driving force behind the
January rise -- rose more moderately last month, while food
prices declined.
    Meanwhile, economists warned that the federal funds rate
will be subject to volatility in the weeks ahead due to the
approach of quarter-end and the mid-April tax date.
    Some economists expect the Fed to execute a bill pass this
week because its adding requirement increases sharply in the
new statement period beginning on Thursday.
    Fed funds traded at 6-1/16 pct late Friday and are expected
to open near that level.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13620" NEWID="8099">
<DATE>22-MAR-1987 20:01:10.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0110&#31;reute
u f BC-SWISS-BANKERS-PLANNIN   03-22 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS BANKERS PLANNING COMPROMISE ON SECRECY CURBS</TITLE>
<AUTHOR>    By Peter Conradi, Reuters</AUTHOR>
<DATELINE>    ZURICH, March 23 - </DATELINE><BODY>Bankers, concerned about official calls
for curbs on Switzerland's banking secrecy, are likely to
propose a compromise plan when they meet regulators today, the
Bankers Federation Secretary said.
    Andreas Hubschmid confirmed a report in yesterday's
Sonntagsblick the Federation would make proposals to curb the
anonymity given to some bank clients who hide their identities
behind lawyers or fiduciary agents.
    "The Sonntagsblick story goes in the right direction, and I
cannot deny it," Hubschmid told Reuters.
    Hubschmid declined to confirm details, saying nothing had
yet been decided.
    Recent allegations U.S. Officials involved in the
arms-for-Iran scandal took advantage of Swiss discretion to
open accounts here have added fuel to the long-running secrecy
debate, while Manila has said former Philippine President
Ferdinand Marcos put a fortune into banks here.
    While Swiss banks are strictly forbidden to reveal the
names of their clients to the outside world, a self-governing
code of conduct dating from 1977 requires the bankers
themselves know the identities of their clients.
    But the banking code, due for renewal this October, allows
a client to hide his name behind a lawyer provided the latter
signs the so-called "B-form" guaranteeing that his client is not
misusing his anonymity for criminal purposes.
    The Commission said at the end of last year it wanted use
of the form drastically reduced.
    The bankers' compromise plan, Sonntagsblick said, quoting
reliable sources, aims to eliminate abuses by differentiating
between lawyers who just manage portfolios for their clients
and those who do so only as a small part of a wider legal
service.
    Only in the second case, would the use of the B-form still
be allowed, it said. Other clients would have to give up their
anonymity and reveal their identities to the bank.
    Commission President Hermann Bodenmann said the Commission
was likely to discuss the proposal at today's meeting with the
bankers, and during its own council session on Tuesday. He
declined further comment.
 The banks draw up their own rules of conduct. But banking
analysts said the banks cannot afford to ignore the views of
the Commission, which is ultimately responsible for preventing
abuses.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13621" NEWID="8100">
<DATE>22-MAR-1987 20:45:26.34</DATE>
<TOPICS><D>acq</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0128&#31;reute
u f BC-SANTOS-BIDS-FOR-OIL-A   03-22 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SANTOS BIDS FOR OIL AND GAS COMPANY TMOC RESOURCES</TITLE>
<DATELINE>    ADELAIDE, March 23 - </DATELINE><BODY>Cooper Basin oil producer Santos Ltd
&lt;STOS.S> said it will bid 4.00 dlrs a share for the 96.03 pct
it does not already hold in diversified oil and gas company
&lt;TMOC Resources Ltd>.
    Santos said the bid values TMOC at 248.5 mln dlrs. It said
it already holds 1.91 mln of TMOC's 25 cent par shares.
    TMOC held interests outside the Cooper Basin region of
South Australia and Queensland and the acquisition would
further the Santos objective of developing as a broadly based
oil and gas company with interests outside its existing base in
the Cooper Basin, the company said in a statement.
    Santos said TMOC holds several important domestic oil and
gas production, exploration and pipeline interests.
    In the Northern Territory it has a 43.75 pct stake in and
operates the Mereenie oil and gas field in the Amadeus Basin
and owns 32 pct of &lt;N.T. Gas Pty Ltd>, owner and operator of
the Alice Springs to Darwin gas pipeline.
    In Queensland, TMOC has extensive interests in the Surat
Basin, including the 100 pct owned and operated Moonie oil
field and 33 pct of the Boxleigh gas field.
    TMOC owns 80 pct of the &lt;Moonie Pipeline Co Pty Ltd> which
owns and operates the Moonie to Brisbane oil pipeline.
    TMOC also holds 25 pct of the Jackson to Moonie oil
pipeline, 20 pct owned by Santos. Output from the Naccowlah
block, 40 pct owned by Santos, provides the bulk of the
throughput of both pipelines.
    TMOC has exploration interests in a number of areas in the
Amadeus, Surat, Eromanga and Canning basins.
    It also has oil and gas interests in Britain's North Sea,
Ecuador, and the U.S., Along with gold and base metal
production through its associate &lt;Paringa Mining and
Exploration Co Plc>, Santos said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13622" NEWID="8101">
<DATE>22-MAR-1987 20:59:25.59</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;f0131&#31;reute
u f BC-DEBT-SOLUTION-REQUIRE   03-22 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>DEBT SOLUTION REQUIRES OPEN MARKETS, GERMAN BANKER</TITLE>
<DATELINE>    FRANKFURT, March 23 - </DATELINE><BODY>The solution of the world's debt
crisis requires open markets but a possible resurgence of
protectionism is the biggest danger, the president of the
Federal Association of German Banks, Wolfgang Roeller, said.
    Roeller, who is also management board spokesman of Dresdner
Bank AG, said in a radio interview it is unlikely Brazil's
suspension last month of part of its interest payments would
lead to a chain reaction in Latin America.
    It is important to increase the efficiency of debtor
countries to such an extent they earn sufficient currency from
exports to repay foreign debt, he said.
    Brazil had taken a unilateral step, Roeller said, but
Brazil had a strong and broad economic base. With the help of
appropriate economic programmes there should be a way to bring
back financial stability to that country.
    Roeller said action on the debt situation had to be taken
now. It could not be expected debtor countries would be able to
repay debts in the short run, even if economic conditions
improved. Programmes had to be developed which would strengthen
the economic position of these countries, to ensure world
economic growth so they are able to sell their products at
adequate prices.
    Roeller said the debt crisis could only be solved in
coordination with governments, international organisations such
as the World Bank and the International Monetary Fund, and
creditor banks.
    "This is not a topic which can be solved by creditor banks
alone," he said. One aim had to be to raise the credit standing
of debtor countries to such a degree they are able to raise
funds on international credit markets again. He said a whole
set of new ideas had been developed and he was convinced the
international banking system would provide more funds, but the
problem is not just economic but also political.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13623" NEWID="8102">
<DATE>22-MAR-1987 21:30:42.37</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0147&#31;reute
u f BC-GATT-SUCCESS-WILL-TAK   03-22 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>GATT SUCCESS WILL TAKE PRESSURE, N.Z. MINISTER</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Long term pressure by trade
ministers is necessary if the current Uruguay round of talks on
the General Agreement on Trade and Tariffs (GATT) is to
succeed, New Zealand's Overseas Trade minister Mike Moore said.
    Moore told the opening meeting of trade ministers from 22
nations gathered for informal talks on the GATT that ministers
"need opportunities to keep in touch and to consider how the
political problems inherent in an exercise like this one can be
faced and resolved."
    Moore said the Taupo meeting is one of a series of such
international gatherings, which includes the OECD ministerial
meeting in May and the G-7 meeting in Venice in June, enabling
ministers to maintain contact.
    World trade conditions are getting better not worse, he
said.
    He said New Zealand is "moving rapidly and of our own
initiative in the direction of liberalisation, and I warn you
we shall be looking for partners."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13624" NEWID="8103">
<DATE>22-MAR-1987 21:36:39.24</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0151&#31;reute
u f BC-JAPAN-LONG-TERM-PRIME   03-22 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN LONG-TERM PRIME SEEN CUT TO RECORD LOW SOON</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Japan's long-term banks will soon cut
their prime rate, now at a record low 5.5 pct, by 0.2 or 0.3
percentage point in response to falling secondary market yields
on their five-year debentures, long-term bankers said.
    The long-term prime rate is customarily set 0.9 percentage
point above the coupon on five-year bank debentures issued by
the long-term banks every month.
    The latest bank debentures, at 4.6 pct, have met strong
end-investor demand on the prospect of further declines in yen
interest rates, dealers said. The current 5.5 pct prime rate
has been in effect since February 28.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13625" NEWID="8104">
<DATE>22-MAR-1987 21:47:39.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0161&#31;reute
u f BC-RESERVE-BANK-CANCELS   03-22 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>RESERVE BANK CANCELS WEEKLY N.Z. T-BILL TENDER</TITLE>
<DATELINE>    WELLINGTON, March 23 - </DATELINE><BODY>The Reserve Bank said it is
cancelling its regular weekly treasury bill tender scheduled
for tomorrow.
    The Bank said in a statement forecasts indicate a net cash
withdrawal from the system through the week.
    The Bank expects to be conducting open market operations as
usual, and after these operations daily cash balances should
fluctuate around 30 mln dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13626" NEWID="8105">
<DATE>22-MAR-1987 21:57:09.11</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>nicaragua</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0162&#31;reute
u f BC-COFFEE-CONFERENCE-END   03-22 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>COFFEE CONFERENCE ENDS WITH CALL TO CONTINUE TALKS</TITLE>
<DATELINE>    MANAGUA, March 22 - </DATELINE><BODY>A meeting of eight Latin American
coffee producers ended with a call for continued talks aimed at
arriving at an agreement to stabilize international prices.
    A statement delivered by the conference's president,
Nicaragua's External Trade Minister Alejandro Martinez Cuenca,
said the object of future meetings would be to seek
negotiations leading to basic export quotas.
    The meeting was attended by representatives from Brazil,
Mexico, Guatemala, El Salvador, Honduras, Costa Rica and
Nicaragua. A Panamanian representative attended the meeting as
an observer.
    Representatives at the meeting said efforts would continue
to be made to reach a regional consensus on export quotas which
could be presented to the International Coffee Organization.
    In opening the meeting, Nicaraguan President Daniel Ortega
said the lack of an accord on export quotas was behind falling
coffee prices, which he said have caused billions of dollars in
losses to countries in the region.
    Jorio Dauster, president of the Brazilian Coffee Institute,
said his government is committed to working towards an
producers accord in order to bring about higher prices.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13627" NEWID="8106">
<DATE>22-MAR-1987 22:08:54.94</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0171&#31;reute
u f BC-YEUTTER-SEES-U.S.,-JA   03-22 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SEES U.S., JAPAN VERGING ON TRADE CONFLICT</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>The United States and Japan
are on the brink of serious conflict on trade, especially over
semiconductors, Japanese unwillingness for public bodies to buy
U.S. Super-computers, and barriers to U.S. Firms seeking to
participate in the eight billion dlr Kansai airport project,
U.S. Trade Representative Clayton Yeutter said.
    He was talking to reporters yesterday on the eve of a
two-day meeting of trade ministers which will review progress
made by committees set up after the Uruguay meeting last
September launched a new round of GATT (General Agreement on
Tariffs and Trade) talks.
    European Community (EC) commissioner Willy de Clercq
meanwhile told reporters conflict between the world's three
major trading and economic powers -- the EC, the U.S. And Japan
-- set a poor example for other members of GATT.
    Australian Trade Minister John Dawkins told the reporters
bilateral retaliation at the enormous expense of the rest of
the world was no way to solve trade disputes.
    New Zealand trade minister Mike Moore told his colleagues
great progress had been made in preparing for the current round
of GATT negotiations which must not be sidetracked.
    The ministers have said they want to maintain the momentum
towards fresh negotiations or avert serious trade conflicts.
    Yeutter said the problem with international trade talks was
that they tended to get bogged down for years. "Countries don't
get very serious about negotiating until the end of the day
which is, maybe, five or six years in the future."
    He also said he did not consider the new U.S. Congress as
protectionist as it was 18 months ago. "That's a very healthy
development," he added."If you asked me about that a year or 18
months ago I would have said that it was terribly
protectionist."
    "Members of Congress, that is the contemplative members of
Congress, have begun to realise protectionism is not the answer
to the 170 billion dlr trade deficit," Yeutter said.
    "They've also begun to realise that you cannot legislate
solutions to a 170 billion dollar trade deficit so they are
more realistic and, in my judgement, more responsible on that
issue than they were 12 or 18 months ago."
    He added, "Whether that will be reflected in the legislation
that eventually emerges is another matter."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13628" NEWID="8107">
<DATE>22-MAR-1987 22:16:55.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D></PLACES>
<PEOPLE><D>mikulic</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0176&#31;reute
u f BC-PREMIER-SAYS-YUGOSLAV   03-22 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>PREMIER SAYS YUGOSLAVIA WILL PAY ITS DEBTS</TITLE>
<AUTHOR>    By Peter Humphrey, Reuters</AUTHOR>
<DATELINE>    BELGRADE, March 23 - </DATELINE><BODY>Yugoslavia, whose economic crisis is
under close scrutiny by foreign creditors, will not follow
Brazil by suspending repayments on its large foreign debt,
Prime Minister Branko Mikulic was quoted as saying.
    Mikulic was speaking to West German journalists in an
interview published yesterday by the Tanjug news agency.
    He said Yugoslavia had always paid its debts and would
continue to do so, but he said creditors and international
institutions should show more "understanding" for Yugoslavia's
situation.
    Mikulic said Yugoslavia had "understanding" for what Brazil
had done.
    Yugoslavia has almost 100 pct annual inflation, lagging
exports and low productivity. This month Makulic imposed
partial freezes on wages and prices which led to widespread
strikes. Tanjug said in the interview Mikulic warned the army
could be called in if Yugoslavia's political system was
threatened. Official reports show Yugoslavia ended 1986 with
hard currency debt of 19.7 billion dlrs. In 1986 it repaid a
record 5.97 billion in capital and interest, reducing its
overall debt by 996 mln dlrs.
    Government ministers told reporters last week they
regretted Yugoslavia made such an effort in 1986. They said the
cost to the economy had been too great.
    Earlier this month deputy prime minister Janos
Milosavljevic said Yugoslavia needed new credits. Foreign
Minister Raif Dizdarevic said in Caracas, "radical changes" in
interest rates and repayment times were needed.
    Western economists said Mikulic's remarks, taken with those
of his ministers, could be a signal some problems were seen
ahead in financing the debt repayments.
    Yugoslavia's debt refinancing timetable is to be considered
by the Paris club at the end of this month.
    The International Monetary Fund, which recently reviewed
the Yugoslav economy, is said by Western diplomats to be
alarmed at what it sees as a deteriorating economic crisis here
and the possibility of balance of payments problems later this
year.
    Mikulic visits West Germany next week, and debt is expected
to figure high on the agenda of his talks with Chancellor
Helmut Kohl.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13629" NEWID="8108">
<DATE>22-MAR-1987 22:56:13.30</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0191&#31;reute
u f BC-NEW-COOPER-BASIN-GAS   03-22 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW COOPER BASIN GAS POOL DISCOVERY REPORTED</TITLE>
<DATELINE>    ADELAIDE, March 23 - </DATELINE><BODY>&lt;Delhi Petroleum Pty Ltd> said a
second gas flow has been recorded in the Epsilon formation of
the Toolachee Block on PEL five and six signifying a new pool
discovery.
    The Kerna Four appraisal well flowed gas at 235,038 cubic
meters a day with four kiloliters of condensate through a 13mm
surface choke over an interval of 2,374 to 2,399 meters.
    DST 1, in the Epsilon formation, was earlier reported as
flowing gas at 237,862 cm/day, Delhi said in a statement.
    The well is two km south south east of Kerna 3, 15 km south
east of the Dullingari field and 75 km east of Moomba.
    Delhi said the remaining objective of the well is the
Patchawarra formation.
    Other interest holders in the Kerna Four well are: Santos
Ltd &lt;STOS.S> 50 pct, Delhi 30, &lt;Vamgas Ltd> 10, &lt;South
Australian Oil and Gas Corp Pty Ltd> 10 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13630" NEWID="8109">
<DATE>22-MAR-1987 23:16:43.85</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>iran</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0199&#31;reute
u f BC-IRAN-SAYS-IT-INTENDS   03-22 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN SAYS IT INTENDS NO THREAT TO GULF SHIPPING</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Iran said reports that it intended to
threaten shipping in the Gulf were baseless, and warned the
U.S. And other countries not to interfere in the region.
    Tehran radio, monitored by the BBC, quoted a Foreign
Ministry spokesman as saying any attempt at interference would
be met by "a strong response from Iran and other Moslems in the
world."
     U.S. Defence Secretary Caspar Weinberger, in remarks
apparently unrelated to the broadcast, said the U.S. Would do
whatever was necessary to keep shipping lanes open in the face
of new Iranian anti-ship missiles in the Gulf.
    The U.S. State Department said two days ago Tehran had been
told of U.S. Concern that Iranian anti-ship missiles posed a
threat to the free flow of oil from the Gulf.
    U.S. Officials have said Iran has new Chinese-made
anti-ship "Silkworm" missiles, which pose a greater threat to
merchant ships than missiles used before.
    The Iranian spokesman said the reports that Iran intended
to attack ships were "misleading propaganda."
    He said Iraq's President Saddam Hussein was the main cause
of tension in the Gulf and said Iran would continue to use "all
its legitimate means to stem the cause of tension."
    Weinberger said in a television interview in the U.S. "We
are fully prepared to do what's necessary to keep the shipping
going and keep the freedom of navigation available in that very
vital waterway."
    "We aren't going into any disclosures or discussions of what
might happen, but we are certainly very sympathetic to and
listening carefully to any suggestions for our assistance in
keeping navigation free in that area," he said.
    Weinberger said U.S warship movements in the Gulf area were
not unusual.
    A U.S. Navy battle group led by the aircraft carrier Kitty
Hawk is currently in the northern Arabian Sea.
    The Iranian spokesman was quoted by Tehran radio as saying
the U.S. Was trying to build up its military presence in the
region.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13631" NEWID="8110">
<DATE>22-MAR-1987 23:33:16.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>sarney</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0208&#31;reute
u f BC-BRAZIL-BUSINESS-LEADE   03-22 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL BUSINESS LEADERS CALL FOR TALKS WITH IMF</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SAO PAULO, March 22 - </DATELINE><BODY>Brazilian business leaders attending
a weekend meeting with President Jose Sarney called on the
government to seek help from the International Monetary Fund
(IMF) in resolving its debt problems.
    The government has so far rejected suggestions that it let
the IMF play a role in rescheduling its 109 billion dlr debt,
the biggest in the Third World.
    Finance Minister Dilson Funaro has said an IMF program for
Brazil, adopted four years ago, caused a recession and he
believes another IMF program would stifle growth.
    Sarney last month suspended interest payments on Brazil's
68 billion dlr commercial debt, a move which has found little
favour among the country's business community.
    Several businessmen called for a return to the IMF, arguing
this would give the country access to new funds and allow the
economy to grow. Both sides in the IMF debate say the course
they favour will enable Brazil to avoid recession.
    "We have to discuss the foreign debt like Mexico does, if
necessary going to the IMF," Mario Amato, president of the Sao
Paulo State Industries' Federation, was quoted as saying.
     An about-turn on the IMF issue would be politically very
difficult for the Sarney government and there are no firm
indications such a policy reversal is in the offing.
    The person most closely associated with the anti-IMF stance
is Finance Minister Dilson Funaro, who was not present at
yesterday's meeting. Brazilian newspapers highlighted his
absence and reported that several of the 24 businessmen present
seized the opportunity to tell Sarney they would like to see
Funaro leave his job.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13632" NEWID="8111">
<DATE>22-MAR-1987 23:42:19.32</DATE>
<TOPICS><D>gnp</D><D>ringgit</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0219&#31;reute
u f BC-MALAYSIAN-1987-ECONOM   03-22 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIAN 1987 ECONOMIC GROWTH SEEN ABOVE FORECAST</TITLE>
<DATELINE>    SINGAPORE, March 23 - </DATELINE><BODY>The Development Bank of Singapore Ltd
(DBS) said Malaysia's real gross domestic product growth (gdp)
in 1987 could be 1.5 to two pct, above a budget target of one
pct.
    It said in a report that because of an economic recovery
and higher foreign exchange reserves, the Malaysian ringgit is
unlikely to face devaluation in the near future.
    The report was presented at a two-day investment conference
organised by the DBS, one of Singapore's four major banks.
    The report said rising commodity prices and the continued
expansion of the manufacturing sector coupled with rigorous
fiscal restraints and a more stable currency are grounds for
cautious optimism about the Malaysian economy.
    It forecast the ringgit will remain stable at between 2.60
and 2.70 Malaysian dlrs to the U.S. Dollar for the rest of the
year.
    But the report said the growth rate of Malaysia's external
debt remains worrying and should be controlled. It said
Malaysia's external debt totals 48 to 49 billion Malaysian dlrs
and its debt service ratio exceeds 20 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13633" NEWID="8112">
<DATE>22-MAR-1987 23:45:01.69</DATE>
<TOPICS><D>oilseed</D><D>coconut</D></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0221&#31;reute
u f BC-PHILIPPINE-COCONUT-PR   03-22 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE COCONUT PRODUCT EXPORTS FALL IN JANUARY</TITLE>
<DATELINE>    MANILA, March 23 - </DATELINE><BODY>Coconut product exports fell to 163,924
copra tonnes in January from 196,610 tonnes in December and
167,747 tonnes in January last year, government figures show.
    Coconut product sales earned 44.54 mln dlrs compared with
45.30 mln in December and 49.09 mln a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13634" NEWID="8113">
<DATE>22-MAR-1987 23:47:47.97</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>bangemann</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M C
&#22;&#22;&#1;f0222&#31;reute
u f BC-GERMAN-STEEL-SUBSIDIE   03-22 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN STEEL SUBSIDIES CANNOT CONTINUE - MINISTER</TITLE>
<DATELINE>    BONN, March 22 - </DATELINE><BODY>Economics Minister Martin Bangemann said
the state could not continue to pour money into West Germany's
ailing steel and coal industries because the subsidies
endangered other parts of the economy.
    "The situation is completely absurd from an economic point
of view," Bangemann told the newspaper Die Welt in an interview
released ahead of publication tomorrow.
    "We are subsidising the production of mineral coal and steel
to an enormous extent and at the same time putting a huge
burden on all other branches of industry and making them
uncompetitive," he said.
    Bangemann said the steel and coal industries were no longer
capable of being competitive. Continued state subsidies would
not save them but would only prolong their lives artifically
for a few years, he said.
    "That is why I have refused to continue subsidising them in
the way that we have done in the past," he said.
    Several steel firms have announced plans to reduce their
workforces, citing weak prices and lower exports due to the
strength of the mark and tough foreign competition.
    Bangemann said everything possible would be done to find
new jobs for the workers affected by the cuts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13635" NEWID="8114">
<DATE>22-MAR-1987 23:50:59.70</DATE>
<TOPICS><D>inventories</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0224&#31;reute
u f BC-AUSTRALIAN-MANUFACTUR   03-22 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN MANUFACTURERS EXPECT DOWNTURN - SURVEY</TITLE>
<DATELINE>    MELBOURNE, March 23 - </DATELINE><BODY>A majority of Australian
manufacturers expect a deterioration in the business climate,
according to the March survey of industrial trends by Westpac
Banking Corp and the Confederation of Australian Industry.
    After expecting improvements in two previous quarterly
surveys, 56 pct of respondents reported working at less than
satisfactory levels, with insufficient orders nominated by 70
pct as the major constraint.
    Other constraints were capacity, 11 pct, and labour nine
pct, the survey said.
    Inflationary pressure increased during the quarter and
investment plans for the next year were scaled down, which the
survey said could limit activity in the medium to short term.
    Respondents reporting an increase in orders fell to 22 pct
in March from 30 pct in December, while those with orders
accepted but not yet delivered fell to 14 pct from 21 pct.
    Stocks of finished goods and raw materials fell sharply in
the March quarter and further depletion was forecast for the
June quarter, the survey said.
    Respondents said finance was harder to obtain, which
Westpac chief economist Bob Graham said was probably because of
high interest rates rather than the availability of money.
    Graham said he thought expectations would gradually improve
later this year, when the dollar might consolidate and interest
rates ease slightly.
    He believed some manufacturers were not investing because
they feared the Australian dollar would get stronger.
    "We do not believe the dollar will revalue, the (economic)
fundamentals are for it to slip away if anything," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13636" NEWID="8115">
<DATE>22-MAR-1987 23:53:11.82</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;f0228&#31;reute
u f BC-DART-GROUP-FLEXIBLE-O   03-22 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>DART GROUP FLEXIBLE ON SUPERMARKETS &lt;SGL> BID</TITLE>
<DATELINE>    NEW YORK, March 22 - </DATELINE><BODY>&lt;Dart Group Corp> said it told
Supermarkets General Corp &lt;SGL> it was flexible on the price it
would pay to acquire the company.
    Dart has said it would offer 41.75 dlrs cash for each SGL
share if the SGL board recommended the offer to shareholders.
    SGL has termed the 1.62 billion dlr offer unsolicited.
    In a letter to SGL dated March 20, Dart also said it was
denied confidential information on SGL that would be given to
other potential bidders.
    SGL officials could not be reached for comment.
    Dart said it was advised that a selling brochure for the
sale of SGL had been distributed to about 20 potential buyers,
but not itself. These purchasers would also be given access to
SGL's books and records and the opportunity to talk with key
employees.
    "We suspect that one or more of the 20 are leveraged buyout
firms," said a source close to Dart. Analysts have said SGL
management may be considering a leveraged buyout.
    Dart said it remains interested in acquiring SGL on a
friendly basis and reiterated its willingness to negotiate all
the terms of its offer.
    Dart said SGL representatives said the company has not
received any other offer.
    It said it requested the confidential information to better
understand SGL, but was denied this because it refused to sign
an agreement prohibiting it from making a bid for SGL without
SGL's approval.
    The agreement would also have limited its ability to buy
SGL shares, Dart said. It considered those conditions
unreasonable in the interest of trying to negotiate a friendly
transaction, it said.
    Dart has just under five pct of SGL shares.
    Dart said it requested the information before its meeting
with SGL representatives, but held the meetings in the hope
representatives would reach an agreement.
    It said it indicated it was flexible on price, but was told
there were certain issues important to SGL management and while
they were not conditions to the deal, Dart was expected to take
them into account in putting together its package.
    It said the issues include an immediate payment of 5.7 mln
dlrs to SGL chairman Leonard Lieberman, executive vice
president James Dougherty and financial officer Murray Levine.
    Dart said this payment was intended for the three officers'
severance agreements, although there was an implication that
Lieberman and Dougherty would be leaving the company of their
own volition.
    Dart said under their present agreements, none of these
officers have any right to such accelerated payments. Also,
Dart said Lieberman, Dougherty and Levine are to be paid 2.6
mln dlrs to pay their taxes. It also said top management's
incentive shares were to be accelerated and paid for at a cost
of six mln dlrs although there are restrictions on the shares
unless waived by the company's compensation committee.
    Dart said it was to fund up to five mln dlrs for top
management's supplemental retirement plan.
    Dart said another issue was to agree to future severance
obligations and future salary guarantees for top management,
estimated at more than 15 mln dlrs in excess of obligations
under the company's present policy.
    Dart said despite such management payments, it agreed to
discuss all aspects of its offer and in fact did try to
negotiate a transaction at the March 18 meeting with SGL.
    Supermarkets General owns the Path Mark supermarket chain
and Rickels home centres.
    Dart also released a copy of a lawsuit that was being filed
by an SGL shareholder, seeking to stop SGL from taking such
actions as paying greenmail or enacting a poison pill defence.
    The suit also sought to have directors carry out their
fiduciary duty.
    Greenmail is the payment at a premium for shares held by an
unwanted suitor and a poison pill is typically the issue of
securities to shareholders which make a takeover more
expensive.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13637" NEWID="8116">
<DATE>23-MAR-1987 00:12:26.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0007&#31;reute
b f BC-CHINA,-PORTUGAL-TO-MA   03-23 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA, PORTUGAL TO MAKE STATEMENT ON MACAO FUTURE</TITLE>
<DATELINE>    PEKING, March 23 - </DATELINE><BODY>Talks between China and Portugal on the
future of Macao have ended and the two countries will issue a
joint statement at 5 P.M. Peking time (0900 GMT), Portuguese
Ambassador Octavio Valerio said.
    "We are very happy with the results," Valerio told reporters
after four days of discussions on how and when the
Portuguese-run peninsula in southern China will be handed back
to Peking.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13638" NEWID="8117">
<DATE>23-MAR-1987 00:13:30.96</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0008&#31;reute
u f BC-AUSTRALIA-SAID-TO-REL   03-23 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA SAID TO RELY TOO MUCH ON OIL TAXES</TITLE>
<DATELINE>    SURFERS PARADISE, Australia, March 23 - </DATELINE><BODY>The government's
over-reliance on revenue from crude oil is adversely affecting
Australia's economic performance, Australian Petroleum
Exploration Association (APEA) chairman Dennis Benbow said.
    Over one-third of Australia's indirect tax income is
derived from oil at a time of falling domestic output and weak
crude prices, he told the APEA annual conference here.
    This dependence on oil-generated revenue distorts the
country's economic performance directly by acting as a
disincentive to new exploration and indirectly by affecting
trading competitiveness through high energy costs, he said.
    Australia's medium-term liquid fuel self-sufficiency
position is posing a major economic threat, yet the
government's response has been to load new tax burdens on the
oil industry, Benbow said.
    Domestic oil output from existing fields is expected to
fall to 280,000 barrels per day (bpd) in fiscal 1992/93 from
546,000 bpd in 1985/86, reflecting mainly the decline of the
Bass Strait fields, he said.
    Bass Strait reserves are now two-thirds depleted, with the
three largest fields 80 pct depleted, he said.
    By 1992/93, Bass Strait output is expected to be just over
half the 1985/86 level, assuming a number of so far undeveloped
fields are brought on stream and enhanced recovery from
existing fields goes ahead, Benbow said.
    Government projections of output from as yet undiscovered
fields range from 40,000 to 130,000 bpd, he said.
    Australian liquid fuel demand is forecast to rise to
680,000 bpd in 1992/93 from 565,000 in 1985/86, implying a
crude oil gap of between 270,000 and 360,000 bpd in five years
time, he said.
    At present world oil prices and the current value of the
Australian dollar, annual oil imports in 1992/93 would cost
between 3.2 billion and 3.6 billion dlrs, Benbow said.
    Despite intensive exploration in the early 1980's, the
addition to reserves has been inadequate, he said.
    For example, the 409 mln barrels discovered in the five
years 1980-84 represent about two years' consumption, he said.
    He called on the government to review its tax policies to
restore incentive to exploration.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13639" NEWID="8118">
<DATE>23-MAR-1987 00:22:53.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0014&#31;reute
u f BC-BAKER-WARNS-AGAINST-F   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER WARNS AGAINST FORGIVENESS OF LATIN DEBT</TITLE>
<DATELINE>    MIAMI, March 22 - </DATELINE><BODY>U.S. Treasury Secretary James Baker said
any attempt to declare blanket debt forgiveness for major Latin
American debtor nations might damage the world economy.
    In an article in Monday's edition of the Miami Herald,
Baker also criticised the concept of short-term debt relief,
calling it a "dramatic, overnight solution."
    "While these ideas may be well-intentioned and have some
political appeal, they are impractical and counterproductive in
the long run," he said.
    The article was published to coincide with a three-day
meeting here of the Inter-American Development Bank (IADB).
    Baker is the chief architect of the U.S. Strategy on Third
World debt.
    Brazil, the Third World's largest debtor, last month
declared a moratorium on interest repayments. It has given no
indication of when it may resume interest payments, prompting
fears that some large U.S. Banks may be forced into substantial
debt writedowns and calling into question the viability of the
U.S. Strategy.
    Baker, defending the strategy, said private commercial
banks have rescheduled nearly 70 billion dlrs in debt since
October 1985 at longer maturities and lower interest rates.
    "Together with expected progress in commercial bank
discussions with Argentina and, we hope, Brazil, this should
add up to substantial new lending for the major Latin debtors
in 1987," Baker wrote.
    He estimated that debt-equity conversion plans accounted
for 2.5 billion dlrs last year in four of the region's major
debtor states. Such plans allow foreign bank creditors to sell
Third World debt at a discount to investors who then become
stockholders in firms in these countries. "These swaps aren't a
panacea, but they do demonstrate how a creative free market can
make progress in reducing the debt burden," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13640" NEWID="8119">
<DATE>23-MAR-1987 00:29:41.66</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0019&#31;reute
u f BC-MINISTER-PREDICTS-ONE   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>MINISTER PREDICTS ONE PCT INFLATION FOR SINGAPORE</TITLE>
<DATELINE>    SINGAPORE, March 23 - </DATELINE><BODY>Singapore will have an inflation rate
of one pct in 1987, up from a negative 1.4 pct in 1986, Trade
and Industry Minister Lee Hsien Loong told Parliament.
    He said the 1986 drop in the inflation rate, the first fall
in a decade, was due largely to lower world prices for oil and
oil-related items.
    But Lee said the negative inflation rate is unlikely to be
repeated this year because of projected higher prices for
primary commodities and oil.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13641" NEWID="8120">
<DATE>23-MAR-1987 00:30:12.11</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0020&#31;reute
f f BC-WOOLWORTHS-LTD-REPORT   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WOOLWORTHS LTD REPORTS 9.27 MLN DLR NET PROFIT YR END FEB 1 VS 63.20 MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13642" NEWID="8121">
<DATE>23-MAR-1987 00:54:57.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0034&#31;reute
u f BC-BRAZIL-SEEKS-TO-REASS   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL SEEKS TO REASSURE BANKS ON DEBT SUSPENSION</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Brazil wants to resume interest payments
on its medium- and long-term foreign debt as soon as possible
and is willing to discuss ways of softening the impact of the
payments suspension on bank earnings, central bank governor
Francisco Gros said.
    Gros, speaking to reporters yesterday after his first
meeting with Brazil's bank advisory committee since he was
appointed last month, also promised a clear statement of
Brazil's economic policy would be made in the next few days.
    But bankers who attended the meeting with Gros said it was
inconclusive.
    The bankers also expressed disappointment Gros could not
give assurances as to when interest payments on the 68 billion
dlrs of medium- and long-term debt would restart.
    "It was all very tentative. You can't expect to get very far
at the first meeting," one banker said.
    The meeting took place on the eve of the annual meeting
here of the Inter-American Development Bank.
    The most urgent item on yesterday's agenda was the need for
a legal rollover of some 16 billion dlrs in trade and interbank
credit lines extended to Brazilian banks which expire at the
end of March.
    Brazil has already frozen the lines to ensure it has enough
credit to finance its day-to-day trade and commerce, but needs
to request a formal extension of the commitments to head off
possible lawsuits from disgruntled creditors.
    The issue is whether the 14-bank steering committee will
endorse Brazil's request to the 700 creditor banks worldwide or
simply relay it without comment.
    This delicate question was not resolved at yesterday's
meeting, but lawyers from both sides will try to draft suitable
language for a telex by midweek, Gros and the bankers said.
    Gros said he will also formally ask the banks for a 90-day
rollover of some 9.6 billion dlrs of debt which originally
matured in 1986 and is now due to be repaid on April 15.
Bankers said the request is a legal nicety since the money is
subject to the moratorium.
    Once interest on Brazil's debts becomes more than 90 days
overdue, U.S. And Canadian banks must put the loans on
non-performing basis and may book payments only as and when
they are received instead of accruing the interest in advance.
    Citicorp has estimated its profits for the first quarter
would be cut by 50 mln dlrs if it put Brazil on a cash basis.
Other U.S. Banks have also warned of earnings setbacks.
    Gros said he wished the 90-day rule was more flexible and
said he would be willing to sit down with the banks to see if
there was a way round the problem.
    He did not elaborate. But, asked whether a bridge loan
might be arranged to pay the interest, he said, "It could
happen."
    Bankers said this possibility had not been raised at the
committee meeting and dismissed it as inconsistent with
Brazil's determination to find a long-term solution to the
problem of servicing its 110 billion dlr foreign debt.
    Gros himself said pushing the problem away for 90 days at a
time is not very useful. Only if Brazil has access to new loans
can it grow, export and pay its debts over the longer term.
    "If the flow of funds dries up, a country like Brazil can't
meet all its obligations," he said.
    Gros defended Brazil's recent economic record, noting
inflation slowed in February, the trade surplus rose and the
public sector budget was in operational surplus.
    But he said there was a need to spell out government
policy, especially on prices.
    "It's necessary to clarify policy for internal and external
reasons," he said, but declined to say what economic measures
might be introduced.
    Once policy is in place, Gros said financing talks with the
banks are likely to be tough and protracted, a sentiment echoed
by the country's creditors.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13643" NEWID="8122">
<DATE>23-MAR-1987 01:07:26.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>israel</D><D>lebanon</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0045&#31;reute
u f BC-ISRAELI-JETS-RAID-SOU   03-23 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>ISRAELI JETS RAID SOUTH LEBANON</TITLE>
<DATELINE>    SIDON, Lebanon, March 23 - </DATELINE><BODY>Israeli jets bombed Palestinian
targets in south Lebanon for the second time in four days,
Lebanese security sources said.
    They said the planes attacked targets in the Darb al-Sim
area a few kms east of Sidon.
    Israeli planes carried out a similar raid in the same area
on Friday, hitting two buildings used by guerrillas loyal to
Palestinian leader Yasser Arafat.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13644" NEWID="8123">
<DATE>23-MAR-1987 01:13:01.95</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0046&#31;reute
f f BC-Bell-Resources-says-i   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Bell Resources says it buys 57.6 mln BHP shares, taking holding to 29.93 pct
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13645" NEWID="8124">
<DATE>23-MAR-1987 01:14:46.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>taiwan</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0047&#31;reute
u f BC-TAIWAN-HOLDING-TALKS   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN HOLDING TALKS WITH ADB, TAIWAN OFFICIAL</TITLE>
<DATELINE>    TAIPEI, March 23 - </DATELINE><BODY>Taiwan is holding discussions with the
Asian Development Bank (ADB) to try to settle a political
dispute over its representation in the bank, a foreign ministry
spokesman said.
    Taiwan, one of the founders of the 47-member ADB, boycotted
the annual meeting last year to protest against a decision to
change its membership name to "Taipei, China" after the admission
of Peking.
    The foreign ministry spokesman said a decision on whether
Taiwan would attend the next meeting in Japan on April 27-29
would depend on the results of the talks.
    "We are looking for a fair and just solution to the question
of representation," he said.
    In Manila, an ADB spokesman declined to comment on the
statement.
    "We have no comment at all," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13646" NEWID="8125">
<DATE>23-MAR-1987 01:16:18.11</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;f0049&#31;reute
b f BC-WOOLWORTHS-LTD-&lt;WLWA.   03-23 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>WOOLWORTHS LTD &lt;WLWA.S> YR ENDED FEB 1</TITLE>
<DATELINE>    SYDNEY, March 23 -
    </DATELINE><BODY>Shr 4.16 cents vs 28.80
    Final Div nil vs 10.5 cents making six for year vs 16.5
    Pre-tax profit 2.68 mln dlrs vs 107.71 mln
    Net 9.27 mln vs 63.20 mln
    Turnover 5.47 billion vs 4.83 billion
    Other income 65.33 mln vs 51.68 mln
    Shrs 222.94 mln vs 219.54 mln.
    NOTE - Net is after tax credit 6.6 mln vs tax paid 43.39
mln, depreciation 41.18 mln vs 34.10 mln, interest 42.42 mln vs
36.23 mln and minorities 11,000 vs 1.12 mln but before
extraordinary net profit 24.98 mln vs loss 51.71 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13647" NEWID="8126">
<DATE>23-MAR-1987 01:16:32.26</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;f0050&#31;reute
b f BC-BELL-RESOURCES-BOOSTS   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL RESOURCES BOOSTS STAKE IN BHP</TITLE>
<DATELINE>    PERTH, March 23 - </DATELINE><BODY>&lt;Bell Resources Ltd> said it has executed
an underwriting agreement with &lt;Equiticorp Tasman Ltd> to
acquire 57.6 mln ordinary shares in The Broken Hill Pty Co Ltd
&lt;BRKN.S> for 540 mln dlrs.
    Bell said in a statement that it now holds 29.93 pct of
BHP's 1.2 billion shares.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13648" NEWID="8127">
<DATE>23-MAR-1987 01:22:15.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0052&#31;reute
u f BC-JAPAN-VEHICLE-PRODUCT   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN VEHICLE PRODUCTION FALLS IN FEBRUARY</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Japan's vehicle output in February fell
0.4 pct from a year earlier to 1.03 mln units for the fifth
consecutive monthly year-on-year drop, but February output was
up 10 pct from a month earlier, the Japan Automobile
Manufacturers Association (JAMA) said.
    February car production totalled 651,253 units, up 0.4 pct
from a year earlier, trucks 375,899, down 1.8 pct, and buses
4,230, up 10.3 pct, he said.
    Vehicle exports are expected to show a seven pct
year-on-year drop in February when figures are announced on
March 27, a JAMA spokesman said.
    The JAMA spokesman blamed slow sales to southeast Asia, the
Mideast and other countries except the U.S. And Europe.
    February motorcycle output fell 32.9 pct from a year
earlier to 224,312, the 13th straight year-on-year drop, but
was up 4.2 pct from a month earlier, he added.
    Motorcycle exports are expected to show a 26 pct
year-on-year fall in February, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13649" NEWID="8128">
<DATE>23-MAR-1987 01:32:24.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0056&#31;reute
u f BC-IADB-DISPUTE-HIGHLIGH   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>IADB DISPUTE HIGHLIGHTS LATIN DEBT CONFLICTS</TITLE>
<AUTHOR>    By Keith Grant, Reuters</AUTHOR>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Controversy surrounding U.S.-backed
reforms in the Inter-American Development Bank (IADB)
underscores the mounting challenge to Washington's current debt
strategy, according to Latin American officials and delegates
to the IADB meeting that begins here today.
    The bank's policy-making board on Saturday postponed a
decision on the reforms until June in view of strong Latin
American opposition to U.S. Proposals to strengthen its control
over lending to the region.
    Washington wants to involve the IADB in its debt strategy
through increased lending, but as the bank's largest single
shareholder it also wants to require countries to adopt
far-reaching economic reforms to qualify for loans.
    The U.S. Push for IADB reforms, which began at last year's
meeting in Costa Rica, is particularly sensitive in an
institution Latin Americans have traditionally thought of as
their own.
    "It's almost an issue of sovereignty for the Latin
Americans," one IADB official said.
    With a 54.2 per cent voting bloc, Latin American nations
have had relatively easy access to 35 billion dlrs in project
loans since the bank's founding in 1959.
    The bank has also been run for the past 12 years by a
Mexican, Antonio Ortiz Mena, who has been increasingly critical
of U.S. Debt strategy in the last two years.
    Ortiz Mena says commercial banks must renew lending to the
region if debtors are to grow and repay creditors. At a news
conference last week he warned that Latin defaults were a
distinct possibility in the long run.
    Brazil insists its debt service obligations should in no
way interfere with growth priorities, a position putting the
issue of debt relief squarely into focus for the first time,
officials and delegates said.
    They said creditors are not ready to discuss debt
forgiveness and prefer to look at schemes such as debt-equity
swaps in combination with a continuing emphasis on economic
reforms.
    Washington wants the IADB to impose greater conditions on
lending, and has threatened to block increased appropriations
for the bank if it does not get its way.
    Latin America, while retaining reservations, now accepts
the principle of setting greater conditions on loans, but is
unwilling to countenance U.S. Demands for greater veto powers
on lending, officials and delegates said.
    Washington has pushed for veto power to be lowered to 35
pct from a simple majority as at present. Latin Americans are
unwilling to go below 40 pct, which would oblige the U.S. To
line up two other voters or voting blocs on its side.
    This attempt to weaken Latin America's voting power, and
particularly a threat by Washington to reduce funds to the IADB
unless its reforms are accepted, has created considerable
resentment among Latin Americans.
    "Debtors have already shown considerable willingness to
sacrifice over the last five years so economic adjustment is
not at issue," one Latin American official said.
    The region has been hoping for a seventh replenishment of
IADB resources of at least 20 billion dlrs for 1987-90, as
against 15.7 billion for the previous four-year period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13650" NEWID="8129">
<DATE>23-MAR-1987 01:47:36.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0064&#31;reute
u f BC-PAPER-ASKS-CONABLE-TO   03-23 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>PAPER ASKS CONABLE TO PROD INDONESIA INTO CHANGES</TITLE>
<DATELINE>    JAKARTA, March 23 - </DATELINE><BODY>World Bank President Barber Conable
should prod the government of President Suharto towards further
economic change, the Jakarta Post newspaper said.
    "Conable could do Indonesia a great service if he is
straightforward enough to point his finger at shortcomings that
could be corrected," it said in an editorial.
    The English-language paper said the bureacracy was not
aggressive or imaginative in responding to Indonesia's economic
problems, which include fiscal restraints due to drastically
declining oil revenues, increasing unemployment, and marketing
problems for its major export commodities.
    The paper said Indonesia must boost the scope for private
business initiative as well as stepping up its use of aid money
already committed. The World Bank has lent Indonesia 10.7
billion dlrs over the past 20 years.
    Conable arrived here on Saturday and will have talks with
Suharto tomorrow. Today he was returning to Jakarta from a
visit to World Bank-funded projects in eastern Java, and was
scheduled to meet leading economic ministers in the afternoon.
    Western diplomats said they expected Conable to press
Indonesia to maintain the pace of its present economic reforms
to cope with the slump in its oil revenues.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13651" NEWID="8130">
<DATE>23-MAR-1987 02:01:29.35</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0073&#31;reute
u f BC-ARIADNE-UNIT-CONFIRMS   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ARIADNE UNIT CONFIRMS BID FOR SAN MIGUEL</TITLE>
<DATELINE>    HONG KONG, March 23 - </DATELINE><BODY>Ariadne group unit &lt;Barwon Farmlands
Ltd> confirmed it offered 3.8 billion pesos in cash for the 38
mln shares of Philippine brewing company &lt;San Miguel Corp>.
    The Australia-based Barwon, 30 pct owned by New Zealander
Bruce Judge's Ariadne group, said in a statement released in
Hong Kong that a formal offer had been made to the Philippines
government, which holds the shares.
    It said it was confident the offer will be reviewed
favourably.
    Newspapers in Manila and Hong Kong reported at the weekend
that an offer had been made.
    Barwon said it was represented by Australian stockbroker
&lt;Jacksons Ltd>, which forwarded a formal offer to Philippine
President Corazon Aquino of 100 pesos for each of the 38.1 mln
A and B shares of San Miguel.
    The Philippine government seized the shares, which
represent a 31 pct stake in the brewery firm, from the &lt;United
Coconut Planters Bank>, alleged by the government to be linked
with the country's deposed President Ferdinand Marcos.
    The Barwon statement said a deal is expected to be
concluded between Barwon and the Philippines government in 14
days.
    Barwon also said it made recommendations to the government
on how it could purchase the class A shares, which can only be
held by a Philippine national or a firm which is at least 60
pct held by a member of the country. It did not elaborate.
    The Hong Kong Economical Journal quoted a spokesman of
Jacksons as saying Barwon plans to set up a branch in the
Philippines to meet the criteria.
    &lt;San Miguel Brewery Ltd>, a locally listed firm 69.65 pct
held by San Miguel's &lt;Neptunia Corp> affiliate, was last traded
at 16.30 H.K. Dlrs against 15.50 dlrs on Friday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13652" NEWID="8131">
<DATE>23-MAR-1987 02:06:32.30</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0076&#31;reute
u f BC-EXXON-OFFICIAL-URGES   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>EXXON OFFICIAL URGES PLANNING FOR NEXT OIL SURGE</TITLE>
<DATELINE>    SURFERS PARADISE, Australia, March 23 - </DATELINE><BODY>World governments
should prepare for an inevitable significant increase in the
price of oil as non-Middle East supplies diminish, Exxon Corp
&lt;XON> director and senior vice-president Donald McIvor said.
    Policymakers must also face up to the reality that the bulk
of world oil reserves lies in the Middle East, he said in a
speech prepared for delivery to the Australian Petroleum
Exploration Association (APEA) annual conference.
    It appears ever more likely that new discoveries elsewhere
will not change this fact, he said.
    McIvor said 37 of the world's 30,000 oil fields contain
about 35 pct of all oil ever discovered.
    Only 11 of these 37 super-giant fields lie outside the
Middle East and only five of the 37 have been discovered in the
last 20 years, three of them in the Middle East, he said.
    He also said that since 1970, the world has been consuming
20 to 25 billion barrels a year while making discoveries at the
rate of only 10 to 15 billion barrels a year.
    More than half of remaining proved reserves are in the
Middle East, he said.
    McIvor said it was important to continue to search for oil
outside the Middle East because each addition contributes to a
diversity of supply desirable for global political and economic
stability.
    "It is important to enhance the likelihood of home-country
discoveries with measures such as non-discriminatory and stable
taxation, and minimum regulation, together with opening up of
acreage for exploration," he said.
    Increasing reliance on the Middle East will also boost the
incentive to use natural gas and synthetic sources of
petroleum, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13653" NEWID="8132">
<DATE>23-MAR-1987 02:22:04.99</DATE>
<TOPICS><D>trade</D><D>oilseed</D><D>grain</D></TOPICS>
<PLACES><D>usa</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0096&#31;reute
u f BC-TAIWAN-TO-BOOST-FARM   03-23 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN TO BOOST FARM IMPORTS FROM U.S., EUROPE</TITLE>
<DATELINE>    TAIPEI, March 23 - </DATELINE><BODY>Taiwan is expected to boost agricultural
imports from the U.S. And Europe in calendar 1987 to help
balance trade, the Council of Agriculture said.
    A council official, who declined to be named, told Reuters
the imports, which will include about seven mln tonnes of
oilseeds, grains and dairy products, would be worth some four
billion U.S. Dlrs against 3.72 billion in 1986 and 3.38 billion
in 1985.
    Taiwan's surplus with the U.S. Rose to 13.6 billion dlrs
last year from 10.2 billion in 1985, government figures show.
    Government figures also show Taiwan's surplus with Europe
rose to 1.53 billion dlrs last year from 543 mln in 1985.
    Taiwan's imports of U.S. Farm produce last year amounted to
1.41 billion dlrs against 1.52 billion in 1985.
    Imports from Europe rose to 182 mln U.S. Dlrs from 148 mln,
the official said.
    He attributed the decline in the value of U.S. Imports to
falling agricultural products prices last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13654" NEWID="8133">
<DATE>23-MAR-1987 02:36:36.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0109&#31;reute
u f BC-AUSTRALIAN-OPPOSITION   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN OPPOSITION LEADER SACKS PREDECESSOR</TITLE>
<DATELINE>    SYDNEY, March 23 - </DATELINE><BODY>Australian opposition leader John Howard
sacked from the shadow cabinet Andrew Peacock, who is a former
foreign minister and Howard's predecessor, party officials
said.
    The officials said the move could lead to the collapse of
the opposition coalition between the Liberal and National
parties, which has been under severe strain in recent weeks.
    In a television interview yesterday prime minister Bob
Hawke said he might call an early election if strife within the
opposition undermined business confidence and hurt Australia's
economic recovery.
    "The opposition have not only destabilised themselves, they
have prostituted the political and economic debate by putting
up economic nostrums and stupidities that are destabilizing
business confidence," Hawke said.
    Howard relegated Peacock to the back benches after the
Melbourne Sun published an alleged telephone conversation
between Peacock and another opposition member in which Peacock
was critical of Howard's leadership. The paper said the call
was recorded by an unidentified man using an electronic radio
scanner. In a statement Howard said the conversation was
damaging to the party and implied disloyalty to him.
    Peacock told reporters he accepted Howard's right to "hire
and fire." He refused to answer questions about any leadership
challenge.
    Liberal party officials said the move against Peacock could
encourage his supporters to mount a challenge to Howard's
leadership. Peacock was ousted as opposition leader by Howard
in September 1985, after losing the 1984 general election to
Hawke.
    Queensland premier Sir Joh Bjelke-Petersen, a veteran
National Party member, recently campaigned against Howard's
leadership and urged his party to split from the coalition.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13655" NEWID="8134">
<DATE>23-MAR-1987 02:54:36.15</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0116&#31;reute
u f BC-AUSTRALIAN-OIL-TAX-CU   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN OIL TAX CUT SEEN BOOSTING OUTPUT</TITLE>
<DATELINE>    SURFERS PARADISE, Australia, March 23 - </DATELINE><BODY>A 10 percentage
point reduction in the Australian government's maximum crude
oil levy on old oil would stabilize Bass Straits oil output,
resources analyst Ian Story said here.
    A reduction to 70 pct from 80 pct would enable Bass Strait
output to be maintained at the current rate of 420,000 barrels
per day (BPD) for the next year rather than falling to 380,000
BPD in 1987/88, he told the Australian Petroleum Exploration
Association annual conference.
    Story is an analyst with and a director of Sydney
stockbroker Meares and Philips Ltd.
    Windfall profits taxes on Bass Strait crude are no longer
appropriate in the current economic climate, Story said.
    The maximum 80 pct levy on old oil -- that discovered
before September 1975 -- is now forcing the Broken Hill Pty Co
Ltd &lt;BRKN.S>/Exxon Corp &lt;XON> partnership to shut-in
production, accelerating the decline in output and reducing
government revenue, he said.
    He said the producer return per barrel at a price of 30
Australian dlrs a barrel would rise to 2.07 dlrs from 0.80 dlrs
if the levy was cut to 70 pct.
    "The economics at an 80 pct levy are simply not attractive
at oil prices below 30 dlrs," Story said.
    Cutting the maximum levy rate to 70 pct would create higher
levels of self-sufficiency, increase government revenue, boost
exports and provide incentives for exploration and development,
he said.
    The government is currently reviewing the oil tax
structure.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13656" NEWID="8135">
<DATE>23-MAR-1987 02:59:12.15</DATE>
<TOPICS><D>interest</D><D>gnp</D><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0121&#31;reute
u f BC-GATT-MEETING-HEARS-PL   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GATT MEETING HEARS PLEA FOR AFRICAN DEBT RELIEF</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Debt among African countries
will continue to grow and their economies remain stifled unless
developed countries lower their interest rates, Nigerian Trade
Minister Samaila Mamman said.
    He told an informal General Agreement on Tariffs and Trade
(GATT) meeting the widening gap between developed and
developing countries and an inequitable international economic
system were major impediments to growth in developing
countries.
    Delegates from 23 countries are attending the GATT talks in
the New Zealand resort of Taupo.
    "I wish to emphasise that the growth in the volume of the
external indebtedness of African countries reflects the full
effect of the deflationary monetary and trade policies of the
developed market economy countries," Mamman said.
    "The developed market economy countries have slowed down
output growth thereby drying up markets for the commodity
exports of African countries."
    Mamman said the World Bank estimated 35.3 billion dlrs a
year would be needed over the next five years for the African
continent to be able to achieve a gross domestic product growth
(GDP) rate of three to four pct by 1990.
    Yet at the same time Africa's debt service was estimated at
24.5 billion dlrs a year between 1986 and 1990.
    "With the best of intentions Africa cannot attain a three to
four pct GDP growth rate if the current high level of debt
persists," Mamman said. Developed countries must seek
alternatives to policies that resulted in the transfer of
resources and more indebtedness, he said.
    "The international community cannot fail to respond
positively to the collapse of the international market for
commodities ... And act quickly to stabilize demand and prices
of our commodity exports," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13657" NEWID="8136">
<DATE>23-MAR-1987 03:01:35.01</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;f0124&#31;reute
r f BC-VW-EXPECTS-HIGHER-GER   03-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>VW EXPECTS HIGHER GERMAN MARKET SHARE IN 1987</TITLE>
<DATELINE>    WOLFSBURG, West Germany, March 23 - </DATELINE><BODY>Volkswagen AG &lt;VOWG.F>
expects to increase its market share in West Germany in the
full year 1987 after registering gains in the first two months
of the year, managing board chairman Carl Hahn said.
    He told Reuters in an interview that incoming orders in
West Germany, VW's largest single market, had been very good in
early 1987. Its share of the domestic car market rose to 29 pct
in January and February from 26 pct in the year-ago period.
    Hahn declined to forecast first quarter 1987 results, or
answer questions about the VW currency scandal.
    Hahn said he did not want to elaborate on statements VW had
already issued on the affair and noted the case was now in the
hands of state prosecutors.
    VW, like other car manufacturers, had encountered difficult
market conditions in the United States in early 1987, Hahn
said, without giving details.
    He declined to predict U.S. Sales for 1987 as a whole,
saying it was particularly difficult this year to forecast
sales trends in North America, VW's second largest regional
market after Western Europe.
    Hahn declined to comment directly on reports that 1986
losses at Spanish subsidiary Sociedad Espanola de Automoviles
de Turismo (SEAT) totalled up to 27 billion pesetas or that
these losses were twice as high as expected.
    But he said SEAT was developing according to plan and added
the introduction of international accounting standards and
changes to VW's own had led to some corrections to SEAT's
figures.
    VW hoped SEAT would reach break-even point in the course of
this year. In 1986 SEAT's volume sales had been better than
expected, Hahn said.
    In January and February, 1987, SEAT's turnover in Europe
rose 40 pct compared with the same months of 1986, Hahn said.
Its European market share rose to 1.9 pct in January and
February from 1.6 pct a year earlier.
    Hahn said VW hoped to sign a contract with Ford Motor Co
&lt;F.N> in the summer on the planned joint venture between the
two companies' loss-making operations in Argentina and Brazil.
    A provisional joint management team was already looking at
ways of synchronising the two operations, he said. VW's
operations in Mexico had made again made a profit in 1986, he
added.
    Hahn, speaking to Reuters in an interview to mark
production of VW's 50 millionth car, said VW had no plans to
make acquisitions outside the automotive sector.
    It also did not expect to raise capital again in the
foreseeable future after increasing capital by 25 pct in 1986
in the biggest rights issue in West German history, Hahn said.
    In a separate interview Karl-Heinz Briam, the management
board member responsible for labour relations, said VW did not
currently plan to increase its workforce further this year.
    All of VW's domestic plants and most of its foreign
production facilities were currently operating at full
capacity, Briam said. The exceptions were VW's Nigerian
operations and its Westmoreland plant in Pennsylvania.
    Hahn said VW had recently taken steps to increase the
flexibility and improve the structure of the Westmoreland
plant. However, VW was not planning to increase production
there at the moment.
    "Most of the VW vehicles (sold in the U.S.) will, as before,
be built in Germany," Hahn said.
    Hahn said there was room for further growth in West
Germany, and predicted that 1987 would be a good year generally
for the industry domestically.
    Wolfgang Lincke, head of car development at VW, said the
increasing environmental awareness of West German consumers
would allow VW to sell more "higher value" cars in future
containing equipment such as catalytic converters, which cut
exhaust emissions.
    Lincke declined to be drawn on when VW may introduce a
successor to its current Golf model, which in 1983 replaced the
original dating from 1974.
    VW would in any case retain the Golf name. Of the 50 mln VW
cars built since VW started commercial production after World
War II, nearly nine mln have been Golfs, Lincke said.
    VW, which traditionally releases its annual results in
April or May, said last week 1986 profit and dividend would
both be unchanged despite the need to make provision to cover
the possible loss of 480 mln marks from allegedly fraudulent
hedging operations.
    VW has also said the currency scandal would not affect the
company's investment spending.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13658" NEWID="8137">
<DATE>23-MAR-1987 03:01:41.93</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0125&#31;reute
u f BC-GERMAN-BOND-YIELDS-SE   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN BOND YIELDS SEEN FALLING IN NEAR TERM </TITLE>
<AUTHOR>    By Alice Ratcliffe, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, March 23 - </DATELINE><BODY>West German bond yields could decline
over the next few months if recent efforts to stabilize
exchange rates, as seen in last month's Paris pact, extend to
keeping down European interest rates, banking economists said.
    But in the longer term domestic yields could rise under
agreements to stimulate West Germany's economy, they said.
    The Paris agreement has so far successfully stabilized
currencies with the threat of central bank intervention,
economists said.
    Economists speculated that G-7 countries may try to bolster
the pact by uncoupling U.S. and West German interest rates
further when they meet for the IMF Interim Committee in April.
"The recent round of monetary accommodation by the Bundesbank
and the Bank of Japan and the firming of the Federal Funds rate
are significant. They mark an uncoupling of movements in U.S.
and foreign interest rates," Salomon Bros Inc said in a recent
study.
    It said narrowing of international interest rate spreads
was a major factor in the dollar's fall. These spreads will
have to be widened if the dollar is to be stabilized.
    West German Bundesbank President Karl Otto Poehl encouraged
the U.S. not to cut interest rates in January when the
Bundesbank cut its own rates by half a point, to avoid
weakening the dollar.
    West German economists see room for further cuts in leading
West German rates if the dollar resumes its decline.
    "It's not a taboo," Peter Pietsch, spokesman for Commerzbank
AG said.
    But most economists see room for a cut in West German rates
only in the first half of the year, as re-emerging inflation
will limit room for manoeuvre later in the year.
    The Bundesbank's average yield of public paper is already
nearing last year's low. Last week, yields fell to around 5.50
pct, not far from the 1986 low of 5.35 pct posted in mid-April.
 Economists said the trend may cause domestic investors to
shift some funds from short to longer-term paper. Such a move
would tend to flatten the yield curve between short and
long-term rates, which has become more pronounced since the
Bundesbank lowered its discount rate.
    It might also facilitate a further cut in leading rates, as
the shift out of savings accounts into securities would slow
growth of the Bundesbank's central bank money stock aggregate.
    But conflicting with this trend are plans to increase West
German tax cuts, part of the Paris currency pact designed to
meet U.S. demands for faster West German growth. This move may
force interest rates up by creating a revenue vacuum which must
be filled by higher government borrowing.
    This may not occur if private sector demand for credit
remains weak, but demand could emerge if rates begin rising.
    Economists said it appeared the government had already
stepped up borrowing this year to accomodate revenue loss from
other sources, including tax losses resulting from weaker than
expected economic growth, and higher than expected spending.
    Josef Koerner, chief economist of the West German
Ifo-Institut, said in a newspaper interview he expected 1987
tax revenue to be some 11 billion marks below estimates by the
West German government in November.
    Any tax shortfall in itself is unlikely to push yields up.
But coupled with other factors such as waning foreign
speculative buying of mark bonds on the dollar's decline, long
term yields may to have to rise, economists said.
    Public authority borrowing in 1988 may also rise owing to
increases in the second phase of Bonn's tax reform package.
    The West German government is raising its total tax cuts in
1988 by 5.2 billion marks to 14.4 billion.
    West German chancellor Helmut Kohl said last week increased
borrowing to finance the tax reform is acceptable.
    Finance minister Gerhard Stoltenberg said last Thursday he
was looking for other ways to finance the reform, such as
raising indirect taxes.
    But few economists believe the government will be able to
go through with its tax measures without increasing net
borrowing.
    The Bundesbank said in its February report that it was
wrong to believe that the first stage of the tax reform in 1986
could be managed without increasing deficits.
    The Bundesbank said West German public authorities borrowed
a large 21.9 billion marks in credit markets in the 1986 final
quarter compared with 14.8 billion in fourth quarter 1985.
    The federal government took up nearly 10 billion marks of
the fourth quarter 1986 figures, and also drew on two billion
marks of Bundesbank advances at the end of the year, when it
had not required such a credit in the 1985 quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13659" NEWID="8138">
<DATE>23-MAR-1987 03:07:51.02</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0146&#31;reute
u f BC-PHILIPPINES-POSTS-68   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINES POSTS 68 MLN DLR JANUARY TRADE DEFICIT</TITLE>
<DATELINE>    MANILA, March 23 - </DATELINE><BODY>The Philippines posted a trade deficit
of 68 mln dlrs in January, compared with deficits of 57 mln in
January 1986 and 28 mln in December, government figures show.
    The National Census and Statistics Office (NCSO) said
imports of 436 mln dlrs in January were up from 371 mln in
January 1986 and 393 mln dlrs in December, while exports of 368
mln were up on the 314 mln in January 1986 but lower than
December's 421 mln.
    The country's 1987-92 medium-term development plan targets
a 9.8 pct average annual growth in exports and a 10.7 pct
growth in imports, the NCSO said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13660" NEWID="8139">
<DATE>23-MAR-1987 03:08:55.65</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;f0152&#31;reute
u f BC-NAKASONE-DEFENDS-SALE   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE DEFENDS SALES TAX AS CAMPAIGNING BEGINS</TITLE>
<AUTHOR>    By Yuko Nakamikado, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone defended
his tax reform plans from fierce opposition, even within his
own party, as campaigning for local elections began.
    "Our plan to reform the nation's tax system is by no means
wrong. Unless we reform the system now, Japan is bound to
decay, perhaps within the next 10 years," Nakasone told
supporters of his ruling Liberal Democratic Party (LDP).
    The April 12 and 26 elections will be the first nationwide
vote since the LDP's general election victory last July.
    Opposition parties have shown rare unity in joining to
fight a proposed five pct sales tax, one of the main planks in
the tax reform package, and are now challenging the
LDP-dominated local governments and assemblies.
    In Tokyo, incumbent Governor Shunichi Suzuki backed by the
LDP and two centrist parties has said he cannot support the
sales tax as it stands.
    A survey by the National Broadcasting Corporation just over
three weeks ago showed 70 pct of those polled said they would
take the tax, which Nakasone proposes to implement next
January, into consideration when they vote.
    Takako Doi, Chairwoman of the Japan Socialist Party, said
in a speech in central Tokyo where shop-owners are opposing the
tax "The elections are a plebiscite against the sales tax. Your
vote is a vote to force (Nakasone) to retract (it)."
    The LDP is putting up its own candidates only in Iwate and
western Shimane but it is supporting independents jointly with
other parties in other prefectures.
    A close aide to Nakasone, who asked not to be identified,
said he sees the sales tax having little impact on the local
elections since almost all candidates, irrespective of party
affiliation, are opposing it in prefectural assembly polls.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13661" NEWID="8140">
<DATE>23-MAR-1987 03:12:15.97</DATE>
<TOPICS><D>meal-feed</D><D>grain</D><D>corn</D><D>sorghum</D><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0161&#31;reute
u f BC-JAPANESE-COMPOUND-FEE   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE COMPOUND FEED OUTPUT FALLS IN JANUARY</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Japanese compound feed output fell to
2.06 mln tonnes in January from 2.57 mln in December, against
2.04 mln a year earlier, Agriculture Ministry statistics show.
    January sales totalled 2.07 mln tonnes against 2.59 mln in
December and 2.04 mln a year earlier, while end-month stocks
were 233,003 tonnes against 230,764 and 241,567.
    Base mixes for the January compound feed output included
corn, sorghum and soybean meal.
    Corn use totalled 993,156 tonnes, against 1.20 mln in
December and 896,718 a year earlier, and its compounding ratio
was 48.1 pct against 46.6 pct and 43.1 pct.
    Sorghum use totalled 339,013 tonnes in January against
459,067 in December and 412,743 a year earlier, and its
compounding ratio was 16.4 pct against 17.8 pct and 19.8 pct,
the ministry's figures shows.
    Soybean meal use amounted to 202,546 tonnes against 253,498
and 213,287 and its compounding ratio was 9.8 pct against 9.8
pct and 10.2 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13662" NEWID="8141">
<DATE>23-MAR-1987 03:16:03.85</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0165&#31;reute
u f BC-JAPAN-SAYS-IT-TRYING   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN SAYS IT TRYING TO EXPAND DOMESTIC DEMAND</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Japan has assured a meeting
of trade ministers it is making every effort to expand domestic
demand and restructure its economy.
    Japanese trade representative Tsomu Hata told an informal
General Agreement on Tariffs and Trade (GATT) meeting that, in
addition to demand boosting measures adopted last September, a
comprehensive economic program will be prepared after the
1987/88 budget is approved.
    Hata, speaking at the first session of the two-day meeting,
said agriculture is no exception to the goal of restructuring
the economy, but did not elaborate.
    Hata said protectionist pressures in the international
economy are as strong as ever, reflecting financial deficits,
payment imbalances and serious unemployment in many countries.
    Despite great potential, developing economies are still
confronted by grave difficulties, particularly debt, he added.
    The basis for the talks is the GATT ministerial declaration
last September in Punta del Este, Uruguay, and the subsequent
trade negotiating plan agreed in Geneva.
    "It is essential that we first reaffirm here our commitment
to implementing that plan as scheduled," Hata said.
    Hata added it is not constructive to speed up negotiations
in some areas at the expense of others.
    In order to rebuild the free trade system, it is important
for each participant to have domestic policies that will serve
this end.
    As part of its contribution, Japan plans in April to
fundamentally improve its generalised system of preferences for
industrial and mining products to make Japan's domestic market
more open to developing countries, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13663" NEWID="8142">
<DATE>23-MAR-1987 03:43:32.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0200&#31;reute
r f BC-UAE-CENTRAL-BANK-CD-Y   03-23 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>UAE CENTRAL BANK CD YIELDS MOSTLY LOWER</TITLE>
<DATELINE>    ABU DHABI, March 23 - </DATELINE><BODY>Yields on certificates of deposit
offered by the United Arab Emirates central bank were mostly
lower than last Monday's offering, the bank said.
    The one-month issue remained at 6-1/8 pct but the two,
three and six-month yields fell 1/16 point to 6-1/16 pct from
6-1/8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13664" NEWID="8143">
<DATE>23-MAR-1987 03:51:10.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f0209&#31;reute
u f BC-MARUBENI-WINS-30-MLN   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>MARUBENI WINS 30 MLN DLR CHINESE CHICKEN CONTRACT</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Marubeni Corp &lt;MART.T> said it won a 30
mln dlr contract from China to set up a broiler raising and
slaughtering plant in Tianjin under a countertrade accord in
which payment will be made partly by output from the plant.
    The plant, which will be completed by end-1988, will have a
capacity of five mln broilers a year, most of which will go to
China's domestic market, a company spokesman said without
giving further details.
    The spokesman said Marubeni plans to increase its
countertrade with China by helping China set up farm product
processing plants and improving its food distribution system.
    Marubeni will also help China develop export markets for
farm products, he said.
    The company wants to increase its food trade with China to
around 200 mln dlrs a year within a few years from 70 mln now,
he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13665" NEWID="8144">
<DATE>23-MAR-1987 04:27:17.00</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0226&#31;reute
f f BC-Bundesbank-sets-28-da   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Bundesbank sets 28-day securities repurchase tender at fixed 3.80 pct
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13666" NEWID="8145">
<DATE>23-MAR-1987 04:31:04.38</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0227&#31;reute
b f BC-BUNDESBANK-SETS-NEW-R   03-23 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK SETS NEW REPURCHASE TENDER</TITLE>
<DATELINE>    FRANKFURT, March 23 - </DATELINE><BODY>The Bundesbank set a new tender for a
28-day securities repurchase agreement, offering banks
liquidity aid at a fixed rate of 3.80 pct, a central bank
spokesman said.
    Banks must make their bids by 1000 GMT tomorrow, and funds
allocated will be credited to accounts on Wednesday. Banks must
repurchase securities pledged on April 22.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13667" NEWID="8146">
<DATE>23-MAR-1987 04:40:04.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0229&#31;reute
b f BC-LSI-LOGIC-ISSUES-100   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>LSI LOGIC ISSUES 100 MLN DLR CONVERTIBLE BOND</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>LSI Logic Corp is issuing a 100 mln dlr
convertible eurobond due April 14, 2002 with an indicated
coupon of 5-3/4 to 6-1/4 pct and priced at par, Morgan Stanley
International said as lead manager.
    Terms will be fixed within five days and the conversion
premium is expected to be 24 to 26 pct above the share price.
The bonds are non-callable before April 14, 1990 unless the
share price exceeds 130 pct of the conversion price for 20
consecutive trading days.
    Any calls will be at 100 plus the coupon in year one,
declining in equal amounts to 100 in 1997.
    Gross fees are 2-1/2 pct, with one pct for management and
underwriting and 1-1/2 pct for selling, Morgan Stanley said.
    The bonds will be issued in denominations of 1,000 and
10,000 dlrs and listed in Luxembourg.  Pay date is April 14.
    Co-lead is Pru-Bache Securities.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13668" NEWID="8147">
<DATE>23-MAR-1987 04:55:05.37</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;f0239&#31;reute
b f BC-U.K.-MONEY-MARKET-DEF   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET DEFICIT FORECAST AT 800 MLN STG</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Bank of England said it forecast a
shortage of around 800 mln stg in the money market today.
    Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
around 1.18 billion stg while bankers balances below target
will take out some 20 mln stg.
    Partly offseting these outflows, a fall in note circulation
and exchequer transactions will add some 355 and 55 mln stg to
the system respectively.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13669" NEWID="8148">
<DATE>23-MAR-1987 04:55:13.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0240&#31;reute
u f BC-NORD-EST-ISSUES-392.9   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>NORD-EST ISSUES 392.9 MLN FRENCH FRANC BOND</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>Financial holding company Nord-Est is
issuing a 392.9 mln franc, 6.25 pct, five year domestic bond
convertible into shares, an announcement in the Official
Bulletin (BALO) said.
    From March 26 to April 8, subscription for 1.63 mln of the
1.64 mln bonds of 240 francs nominal each will be reserved for
shareholders holding 13.09 mln shares of 50 francs nominal,
representing the company's capital of 654.85 mln francs, on the
basis of one bond for eight shares held.
    The bonds will be exchangeable from July 1 for shares on a
one for one basis.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13670" NEWID="8149">
<DATE>23-MAR-1987 05:05:32.62</DATE>
<TOPICS><D>trade</D><D>coffee</D><D>rubber</D><D>palm-oil</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C G M T
&#22;&#22;&#1;f0259&#31;reute
u f BC-INDONESIA'S-NON-OIL-E   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA'S NON-OIL EXPORTS DECLINE IN 1986</TITLE>
<DATELINE>    JAKARTA, March 23 - </DATELINE><BODY>Indonesia's non-oil and gas exports
fell to 5.79 billion dlrs in calendar 1986 from 5.98 billion in
1985, according to Bank Indonesia figures.
    Coffee exports rose to 753 mln dlrs from 580 mln in 1985,
but rubber shipments fell to 625 mln from 720 mln and tin to
180.6 mln from 246 mln, weekly central bank figures show.
    Indonesia hopes to boost its non-oil exports to make up for
oil revenue lost because of lower prices. But the lower value
of commodities such as timber, rubber, palm oil and tea on
world markets has prevented this, despite a 31 pct devaluation
of the rupiah against the dollar in September.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13671" NEWID="8150">
<DATE>23-MAR-1987 05:07:11.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0270&#31;reute
u f BC-MODERATE-EARTHQUAKE-H   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>MODERATE EARTHQUAKE HITS SOUTHWEST JAPAN</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>A moderate earthquake measuring 5.5 on
the Richter scale shook southwestern Japan but caused no
injuries or damage, police said.
    The tremor, recorded at 1358 local time (0458), had its
epicentre about 50 km offshore from the city of Miyazaki on the
western Japanese island of Kyushu, they said.
    It affected almost the same area as last Wednesday's strong
earthquake which killed two people and injured at least three,
they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13672" NEWID="8151">
<DATE>23-MAR-1987 05:07:35.95</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0274&#31;reute
u f BC-AUSTRALIAN-MINISTER-S   03-23 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN MINISTER SAYS AGRICULTURE GATT PRIORITY</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Australian Trade Minister
John Dawkins said if the General Agreement on Tariffs and Trade
(GATT) does not give high priority to agricultural trade reform
it will be neglecting the area of greatest crisis.
    In a statement to the informal GATT trade ministers
conference here he said agriculture is a problem which involves
all countries and seriously affects the debt servicing
abilities of a number of developing countries.
     He said major countries should be showing leadership on
this problem.
    "We will be giving close attention to the processes in the
OECD (Organisation of Economic Cooperation and Development) and
elsewhere leading to the Venice economic summit where we will
be looking to the participants to adopt a strong commitment to
agricultural trade reform," Dawkins said.
    The Venice summit is scheduled for June.
    He said Australia's interests in the Uruguay Round, the
eighth under the GATT, are wide ranging. Dawkins said he sees
the round as providing a timely opportunity to secure further
meaningful trade liberalisation in all sectors and to restore
confidence in the multilateral system.
    Dawkins said initial meetings of the negotiating groups
established in Geneva after the GATT declaration last September
in Punta del Este, Uruguay, have made a reasonable start, but
it is vital that trade ministers maintain the pressure on these
processes.
    "We must see that the commitments made at Punta del Este on
standstill and rollback are carried into practice."
    The standstill and rollback of protection offers the global
trading system a chance to hold and wind back protection during
the negotiations which are expected to last up to four years,
he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13673" NEWID="8152">
<DATE>23-MAR-1987 05:08:49.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0279&#31;reute
u f BC-TAIWAN-ISSUES-MORE-CE   03-23 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ISSUES MORE CERTIFICATES OF DEPOSIT</TITLE>
<DATELINE>    TAIPEI, March 23 - </DATELINE><BODY>The central bank issued 4.03 billion
Taiwan dlrs of certificates of deposit (cds), bringing cd
issues so far this year to 134.5 billion dlrs, a bank official
told Reuters.
    The new cds, with maturities of six months, one and two
years, carry interest rates ranging from 4.07 to 5.12 pct, he
said.
    The issues are intended to help curb the growth of M-1b
money supply, which is the result of large foreign exchange
reserves.
    The reserves are now well over 51 billion U.S. Dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13674" NEWID="8153">
<DATE>23-MAR-1987 05:10:10.05</DATE>
<TOPICS><D>gnp</D><D>interest</D><D>money-fx</D><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;f0284&#31;reute
u f BC-JAPAN-ECONOMY-SEEN-GR   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN ECONOMY SEEN GROWING 3.6 PCT IN 1987/88</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Japan is expected to post a 3.6 pct rise
in real gross national product in 1987/88, higher than the
official 3.5 pct target, a private economic institute said.
    The Research Institute on National Economy said in a report
the economy will start picking up in the April-June quarter,
partly because of an improvement in earnings performance and
capital spending in manufacturing industries.
    The institute assumed an average exchange rate in the year
starting April 1 of 150 yen to the dollar. It predicted the
Bank of Japan will not change the official discount rate in the
year.
    The institute forecast that Japan's exports will gradually
rise in the year in volume terms as the dollar's fall in the
past 18 months is likely to help prop up the U.S. Economy.
    Japan's trade surplus is expected to narrow slightly to
90.2 billion dlrs in 1987/88 ending March 31 from an estimated
98 billion in the current fiscal year, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13675" NEWID="8154">
<DATE>23-MAR-1987 05:12:02.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0289&#31;reute
u f BC-TOSHIBA-SETS-UP-HONG   03-23 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>TOSHIBA SETS UP HONG KONG CIRCUIT DESIGN CENTRE</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Toshiba Corp &lt;TSBA.T> said it has set up
a design centre for large integrated circuits (LSI) in Hong
Kong.
    The centre, located at its wholly-owned Hong Kong
subsidiary &lt;Toshiba Electronics Asia Ltd>, will start
operations to help create new demand for semi-customized LSI
from April 1.
    Toshiba has nine LSI design centres in the U.S., Europe and
Japan.
 REUETER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13676" NEWID="8155">
<DATE>23-MAR-1987 05:14:56.46</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;f0295&#31;reute
u f BC-BOOKER-PLC-&lt;BOKL.L>-1   03-23 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>BOOKER PLC &lt;BOKL.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 23 -
    </DATELINE><BODY>Shr 27.89p vs 24.24p
    Div 9.0p vs 7.75p making 13.75p vs 12.0p
    Turnover 1.26 billion stg vs 1.19 billion
    Pretax profit 54.6 mln vs 46.5 mln
    Tax 16.5 mln vs 13.5 mln
    Interest paid 2.2 mln vs 2.4 mln
    Minority interests 2.3 mln debit vs same
    Extraordinary items 42.3 mln profit vs 5.4 mln loss
    Pretax profit includes -
    Agribusiness 28.3 mln vs 22.5 mln
    Health products 6.5 mln vs 5.4 mln
    Wholesale food distribution 8.3 mln vs 7.3 mln
    Retail food distribution 4.2 mln vs 5.9 mln
    U.K. 28.7 mln vs 27.2 mln
    U.S. 21.1 mln vs 16.1 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13677" NEWID="8156">
<DATE>23-MAR-1987 05:16:18.27</DATE>
<TOPICS><D>trade</D><D>veg-oil</D></TOPICS>
<PLACES><D>philippines</D><D>new-zealand</D></PLACES>
<PEOPLE><D>concepcion</D></PEOPLE>
<ORGS><D>ec</D><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0300&#31;reute
u f BC-PHILIPPINES-CRITICISE   03-23 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINES CRITICISES EC FOR VEGETABLE OIL LEVY</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Philippines Trade and
Industry Secretary Jose Concepcion told world trade ministers
he wondered if their agreement was of any real value after the
European Community (EC) imposed a levy on vegetable oils.
    Concepcion, speaking at an informal meeting of the General
Agreement on Tariffs and Trade (GATT) here, said ministers
declared in Uruguay last September that the trade of
less-developed nations should not be disrupted.
    He said the EC not only ignored Manila's request for lower
tariffs on coconut oil but introduced a levy on vegetable oils
and fats that are vital exports for Southeast Asian countries.
    Concepcion said while the levy might be rejected by the EC
Council of Ministers, he noted that "I cannot help but wonder
whether the agreements we produce in meetings like this are of
any real value."
    He also said industrialised nations saved about 65 billion
U.S. Dlrs in 1985 through low commodity prices, but this had
affected the ability of developing nations to import goods and
services.
    "The health and the growth of world trade requires that the
new development of developing countries losing their share of
world trade be arrested and reversed," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13678" NEWID="8157">
<DATE>23-MAR-1987 05:23:17.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>somalia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0308&#31;reute
u f BC-SOMALIA-PREPARES-FORE   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>SOMALIA PREPARES FOREIGN INVESTMENT LAW</TITLE>
<DATELINE>    MOGADISHU, March 23 - </DATELINE><BODY>The Somali government has submitted
to parliament a law offering foreign investors generous terms
including customs duty exemption on all capital goods, Minister
of State for Planning Yusuf Ali Osman said.
    Osman told reporters yesterday the new law opened all
sectors of the Somali economy to foreign investment and allowed
unrestricted remittance of profits and repatriation of the
whole value of the investment after five years.
    The law gives investors guarantees against nationalisation
and permits them to retain 50 pct of their export earnings in
external accounts, a privilege available to Somali exporters
since last year, he added.
    Osman described the new terms as very attractive and said
he expected the bill to go through within a week. Details of
the previous investment laws were not immediately available.
    Somalia opened its economy to private investment in the
early 1980s but few foreign firms have put money into the
country. Osman said the two largest private foreign investments
were in a banana exporting venture and in a small boatyard.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13679" NEWID="8158">
<DATE>23-MAR-1987 05:30:02.91</DATE>
<TOPICS><D>reserves</D><D>trade</D></TOPICS>
<PLACES><D>burma</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0313&#31;reute
u f BC-BURMA-SAYS-DEBT-SERVI   03-23 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>BURMA SAYS DEBT SERVICE RATIO FALLS TO 48.8 PCT</TITLE>
<DATELINE>    RANGOON, March 23 - </DATELINE><BODY>Burma's debt service ratio will have
fallen to 48.8 pct in the fiscal year to end-March 1987 from 50
pct in 1985-1986, the official Council of People's Inspectors
(CPI) reported.
    Western diplomats in Rangoon estimate the figure at above
70 pct and say the country can no longer depend on foreign
exchange reserves to cover more than a few weeks' imports.
    The CPI, which oversees government spending, said in its
latest report to parliament that foreign currency reserves fell
to a record low of 407.9 mln kyats in September 1986 from 430.3
mln in March 1986. Earlier figures were not available.
    Debt servicing cost Burma 1.62 billion kyats in 1985-1986
while foreign exchange earnings -- export revenues plus loans
and aid -- totalled 3.23 billion kyats in the same period, the
council said.
    Later figures were not available.
    Burma, which diplomats here say now has foreign debts of up
to 3.4 billion dlrs, has applied to the United Nations to be
reclassified as one of the world's least developed countries in
order to qualify for softer loan and grant aid.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13680" NEWID="8159">
<DATE>23-MAR-1987 05:31:38.54</DATE>
<TOPICS><D>veg-oil</D><D>palm-oil</D><D>rape-oil</D><D>ship</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;f0314&#31;reute
b f BC-INDIA-BOUGHT-24,000-T   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA BOUGHT 24,000 TONNES OF RBD OLEIN AT TENDER</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Indian State Trading Corporation
(STC) bought four cargoes of rbd palm olein totalling 24,000
tonnes at its vegetable oil import tender last week, traders
said. Market reports on Friday said the STC had booked two
cargoes.
    The business comprised three 6,000 tonne cargoes for June
at 346 dlrs and 6,000 tonnes for July at 340 dlrs per tonne
cif.
    It also secured a 20,000 tonne cargo of optional origin
rapeseed oil for May 15/Jun 15 shipment at 321 dlrs cif.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13681" NEWID="8160">
<DATE>23-MAR-1987 05:33:58.58</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0321&#31;reute
u f BC-BP-GRANGEMOUTH-REFINE   03-23 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>BP GRANGEMOUTH REFINERY SHUT, HYDROCRACKER DAMAGED</TITLE>
<DATELINE>    LONDON, MARCH 23 - </DATELINE><BODY>The entire British Petroleum Co PLC
refinery at Grangemouth in Scotland has been shut down
following the explosion and fire that severely damaged the
hydrocracker at the site, a refinery spokesman said.
    He said the rest of the 178,500 bpd refinery, including the
19,000 bpd catalytic cracker, was undamaged. The whole refinery
was closed pending enquiries but a decision when to reopen the
main units will be taken in the next couple of days, he said.
    But there was extensive damage to the central part of the
32,000 bpd hydrocracker, which upgrades heavy oil products to
gasoline, and it will be out of operation for some months.
    The spokesman said BP will not suffer supply shortages as a
result of the explosion as it will be able to bring in product
from other sources. BP has a 437,000 bpd refinery in Rotterdam,
a 181,900 bpd unit at Ingolstadt, West Germany, a 181,900 bpd
plant at Lavera in France and a smaller Swedish plant.
    He said the explosion and fire, in which one worker was
killed, occurred when the hydrocracker was not in operation.
    The refinery as a whole had been operating at about half of
its capacity since the end of January while an extensive
overhaul was carried out on the North Side of the complex where
the hydrocracker is sited, he said.
    This work was scheduled to be completed by mid-April, but
this is now being assessed following the hydrocracker accident.
    Two people were killed in an explosion and fire in a flare
line at the Grangemouth refinery on March 13, but the spokesman
said this incident was some 100 yards from the latest accident.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13682" NEWID="8161">
<DATE>23-MAR-1987 05:35:09.36</DATE>
<TOPICS><D>grain</D><D>corn</D><D>rice</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>deng-xiaoping</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0332&#31;reute
u f BC-DENG-SETS-LIMIT-TO-CH   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>DENG SETS LIMIT TO CHINA GRAIN IMPORTS, PAPER SAYS</TITLE>
<DATELINE>    PEKING, March 23 - </DATELINE><BODY>China's top leader Deng Xiaoping said
China must not import more than 10 mln tonnes of grain, Ming
Pao newspaper of Hong Kong said.
    Customs figures show that China imported 7.73 mln tonnes of
grain in 1986, up from 5.97 mln in 1985 but down from a record
16.15 mln in 1982.
    The newspaper quoted Deng as saying that grain output is
one of several key issues that will influence the whole
development of the economy. It did not give the context of his
remarks. The 1987 grain production target is 405 mln, up from
391 mln in 1986.
    The newspaper quoted Deng as saying that the situation has
reached the point where "pigs are not fed, there is not enough
grain and increases in output have slowed."
    "We should in our overall economic planning put agriculture
in its proper place to reach our target of 480 mln tonnes by
the year 2000," he said. "We must avoid the situation in recent
years of importing more than 10 mln tonnes of grain."
    The paper quoted Deng as saying that the State Council has
decided to raise the price of five grains, including corn and
rice, unchanged since 1978, but it gave no details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13683" NEWID="8162">
<DATE>23-MAR-1987 05:38:57.77</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;f0346&#31;reute
u f BC-AUSTRALIA'S-WOOLWORTH   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA'S WOOLWORTHS LOOKS TO IMPROVED PROFITS</TITLE>
<DATELINE>    SYDNEY, March 23 - </DATELINE><BODY>Woolworths Ltd &lt;WLWA.S> said policy,
management and financial changes initiated during the 1986/87
business year should cause profits to reach more acceptable
levels in 1987/88 end-February 1.
    Net profit reported earlier fell 85.3 pct in the year ended
February 1.
    Results for the first month of the new year were
encouraging after a period of uncertain consumer confidence and
difficult trading conditions, it said in a statement.
    The Big W discount store division and New South Wales
supermarkets produced very disappointing results, it added.
    Woolworths earlier reported a fall in net profit to 9.27
mln from 63.20 mln on sales of 5.47 billion against 4.83
billion. Capital spending for the year was 119 mln dlrs against
105 mln for the previous year with 50 new stores opened, but
total sales were below target, Woolworths said.
    The company provided 20 mln dlrs against operating profit
for the year to cover mark-downs on stock.
    Extraordinary items included a 53 mln dlr profit on the
sale of properties and investments less a 28 mln provision for
reorganising the Big W chain.
    Woolworths is unrelated to the U.S. Group F.W. Woolworth
&lt;Z.N>. It has been the subject of takeover speculation since
&lt;Industrial Equity Ltd> acquired a 20 pct stake last year.
    New Zealand's diversified investment group &lt;Rainbow Corp
Ltd> bought Safeway Stores Inc's &lt;SA> 20 pct holding in
Woolworths for 190 mln dlrs late last year.
    Safeway put its stake up for tender just in time to take
advantage of changes in U.S. Tax laws effective from the end of
December, informed sources said.
    Woolworths shares closed on Australian stock exchanges
today at 3.50 dlrs, down five cents from Friday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13684" NEWID="8163">
<DATE>23-MAR-1987 05:40:00.46</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;f0352&#31;reute
u f BC-BOOKER-SAYS-1987-STAR   03-23 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>BOOKER SAYS 1987 STARTS WELL</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Booker Plc &lt;BOKL.L> said 1987 had
started well and the group had the resources to invest in its
growth business both organically and by acquisition.
    It was commenting on figures for 1986 which showed pretax
profits rising to 54.6 mln from 46.5 mln previously. Profits
from the U.S. Accounted for 39 pct of the total. The results
were broadly in line with analysts' forecasts and the company's
shares firmed in morning trading to 421p from 413p at Friday's
close.
    The group ended the year with a cash surplus higher at 54
mln stg, compared to 26 mln previously, after capital
expenditure which rose to 54 mln from 43 mln.
    In a statement, the company said the U.K. Agribusiness
group reported excellent profits growth while health products
profits rose to 6.5 mln from 5.4 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13685" NEWID="8164">
<DATE>23-MAR-1987 05:40:11.52</DATE>
<TOPICS><D>gnp</D><D>cpi</D><D>reserves</D><D>grain</D></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0353&#31;reute
u f BC-BANGLADESH-FORECASTS   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH FORECASTS GDP GROWTH OF 4.4 PCT</TITLE>
<DATELINE>    DHAKA, March 23 - </DATELINE><BODY>Gross domestic product is expected to
grow by 4.4 pct in the year ending June 30, Finance Minister
Mohammad Syeduzzaman told reporters.
    Inflation fell to an estimated 12 pct this fiscal year from
17 pct in 1981/82, he said last night.
    The World Bank and other independent sources have said
inflation would be around 15 pct in 1986/87.
    Syeduzzaman said remittances from expatriates would rise to
600 mln dlrs this year from 425 mln in 1981/82.
    Foreign exchange reserves at end-June are projected at 680
mln dlrs compared with 105 mln in 1981/82, he said.
    Syeduzzaman said the export target has been set at 900 mln
dlrs this year against 626 mln in 1981/82. Commitments for
foreign loans and grants total more than five billion dlrs in
1986/87, against 3.54 billion five years previously, he said.
    The government's liberal industrial policy has attracted
investment commitments totalling 250 mln dlrs, he said
    Foodgrain output is estimated at 16.4 mln tonnes this year,
up from 16.12 mln in 1985/86 and 14.4 mln in 1981/82.
    Government officials have said Bangladesh must import
nearly two mln tonnes of grain annually up to 1990, when the
government expects to attain self-sufficiency in food.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13686" NEWID="8165">
<DATE>23-MAR-1987 05:40:15.93</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0354&#31;reute
f f BC-Belgian-three-month-t   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Belgian three-month treasury certificate rate cut 0.10 points to 7.40 pct
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13687" NEWID="8166">
<DATE>23-MAR-1987 05:49:01.51</DATE>
<TOPICS><D>acq</D><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>uk</D><D>france</D><D>italy</D><D>west-germany</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T G
&#22;&#22;&#1;f0368&#31;reute
u f BC-BEGHIN-SAY-INCREASES   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BEGHIN-SAY INCREASES CAPITAL TO FINANCE EXPANSION</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>French sugar group Beghin-Say, which is
49.6 pct owned by Italy's Gruppo Ferruzzi, is to raise its
capital to 703 mln francs from 527 mln through a three-for-one
issue of shares and investment certificates to finance
expansion, president Jean-Marc Vernes told analysts.
    For the first stage Beghin-Say will issue some 2.05 mln new
65 franc shares at 500 francs to increase capital to 660 mln
francs. The share currently trades at 734 francs. Then 658,000
new 65 franc investment certificates will be issued at 400
francs, raising capital to 703 mln francs.
    The capital increase will bring the group around 1.2
billion francs in new funds to finance its expansion plans.
These include the possible acquisition of the Corn Products
maize starch plant at Haubourdin in northern France, Vernes
said.
    Ferruzzi is one of several groups bidding to buy all of
Corn Products' installations in Europe. Apart from the French
plant, these include three factories in each of Italy and West
Germany, two in Britain and Spain and one in the Netherlands
and Denmark.
    Corn Products has put a 650 mln dlr price tag on the
installations, and Beghin-Say estimates that acquisition of the
Haubourdin plant would cost between 80 and 100 mln dlrs, Vernes
said.
    If this bid fails, Beghin-Say would consider acquiring and
developing two other French plants, either in the maize or
wheat starch sector.
    Beghin-Say is also planning to finance European expansion
for its Kaysersberg subsidiary, another major reason for its
capital increase.
    Kaysersberg, which was transformed from a division of
Beghin-Say into a fully-fledged chemical subsidiary last year,
has been holding talks with other European companies on
possible accords, Vernes said. He added the company could be
introduced onto the Paris Bourse in the near future.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13688" NEWID="8167">
<DATE>23-MAR-1987 06:08:19.97</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>iran</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0393&#31;reute
u f BC-IRAQ-REPORTS-RAIDS-IR   03-23 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ REPORTS RAIDS IRAN'S NOWRUZ OIL FIELD</TITLE>
<DATELINE>    BAGHDAD, March 23 - </DATELINE><BODY>Iraq said its warplanes launched two
bombing raids on Iran's offshore Nowruz oilfield in the
northern Gulf today.
    A military spokesman, quoted by the official Iraqi news
agency, said platforms at the field were reduced "to rubble."
    He said attacks on the field, 55 miles northwest of Iran's
Kharg Island oil terminal, were carried out at 0600 GMT. He
said today's raids "fall within Iraq's policy to deprive Iranian
rulers of oil revenue used to serve their aggressive aims."
    Iraqi planes yesterday raided the nearby Ardeshir oil
field, resuming attacks on Iranian targets after a month-long
lull.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13689" NEWID="8168">
<DATE>23-MAR-1987 06:11:53.61</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0394&#31;reute
u f BC-BANK-OF-FRANCE-SAYS-N   03-23 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF FRANCE SAYS NO MONEY MARKET TENDER TODAY</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>The Bank of France will not hold a money
market intervention tender today, ruling out a further cut in
its 7-3/4 pct intervention rate, central bank sources said.
    At the tenders, depending on market conditions, the Bank
injects liquidity into the market by buying up first category
paper. But market sources said that while the recent franc
performance leaves room for a further quarter point cut in the
intervention rate there was plenty of market liquidity.
    The Bank cut its rate to 7-3/4 pct from eight pct on March
9, the first change since January 2. Interest rates also fell
the same week in Britain, Belgium and Italy.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13690" NEWID="8169">
<DATE>23-MAR-1987 06:13:33.73</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;f0398&#31;reute
u f BC-&lt;ZAMBIA-COPPER-INVEST   03-23 0049</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
&lt;ZAMBIA COPPER INVESTMENTS LTD> JOHANNESBURG, March 23
-Halfyear ended december 31
    Shr net 53 U.S. Cents vs loss 3.67
    Pre-tax 677,000 dlrs vs 857,000
    Net earnings 646,000 vs loss 4.50 mln
    Foreign tax gain 31,000 vs 30,000
    Extraordinary items nil vs loss 5.33 mln period
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13691" NEWID="8170">
<DATE>23-MAR-1987 06:15:12.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>luxembourg</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0401&#31;reute
b f BC-TASMANIAN-PUBLIC-FINA   03-23 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>TASMANIAN PUBLIC FINANCE HAS AUSTRALIAN DLR BOND</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Tasmanian Public Finance Corp,
guaranteed by the state of Tasmania, is issuing a 46 mln
Australian dlr eurobond due April 23, 1992 paying 14-3/4 pct
and priced at 101-1/8 pct, lead manager Deutsche Bank Capital
Markets said.
    The bond will be available in denominations of 1,000 and
10,000 dlrs and will be listed in Luxembourg and Frankfurt.
    Fees comprise 1-3/8 pct selling concession and 5/8 pct
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13692" NEWID="8171">
<DATE>23-MAR-1987 06:16:07.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0403&#31;reute
b f BC-FINNISH-EXPORT-CREDIT   03-23 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>FINNISH EXPORT CREDIT ISSUES YEN BONDS</TITLE>
<DATELINE>    London, March 23 - </DATELINE><BODY>Finnish Export Corp is issuing a 20
billion yen bond maturing April 23, 1992 carrying a 4-3/8 pct
coupon and priced at 102-3/4, said Yamaichi Securities
International (Europe) Ltd.
    The bond are payable April 23, 1987 and are available in
denominations of one mln yen. They will be listed on the London
Stock Exchange.
    There is a 1-1/4 pct selling concession and 5/8 pct
combined management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13693" NEWID="8172">
<DATE>23-MAR-1987 06:19:59.63</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0409&#31;reute
r f BC-BALLADUR-SEES-ONLY-TW   03-23 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLADUR SEES ONLY TWO PCT FRENCH GROWTH IN 1987</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>French 1987 growth will probably be about
two pct, the same as last year, due to an international
environment that is less favourable than expected, Finance
Minister Edouard Balladur was quoted as saying.
    Treasury director Daniel Lebegue said last month that gross
domestic product is expected to grow by between two and 2.5 pct
this year, against an original target of 2.8 pct.
    Although in line with the latest Organisation for Economic
Cooperation and Development (OECD) estimate of 2.1 pct growth,
the forecast will be balanced by growth in investments and
exports, Balladur said in an interview with the daily Les
Echos.
    Last month Balladur said French GDP had grown by just two
pct last year, compared with an initial 1986 target of 2.5 pct
and 1.1 pct growth in 1985.
    He told Les Echos he aims to reduce the 1988 budget deficit
to 115 billion francs from this year's figure of 129 billion
and compared with a 141 billion deficit in 1985.
    He has already announced his intention of cutting the
deficit to 100 billion francs in 1989.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13694" NEWID="8173">
<DATE>23-MAR-1987 06:31:37.19</DATE>
<TOPICS><D>gnp</D><D>trade</D><D>jobs</D><D>retail</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0426&#31;reute
u f BC-FRENCH-GDP-SHOULD-RIS   03-23 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH GDP SHOULD RISE 2.3 PCT IN 1988 - MINISTRY</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>French gross domestic product should grow
by 2.3 pct in 1988 after two pct growth this year and 2.1 pct
in 1986, the Finance Ministry said.
    The latest forecast, prepared by the National Accounts and
Budget Commission, assumed an exchange rate of 6.20 francs to
the dollar this year and next and an average oil import price
rising to 18.9 dlrs a barrel next year from 17.4 dlrs this year
and 14.7 in 1986.
    The Commission, headed by Finance minister Edouard
Balladur, forecast a fall in consumer price inflation to two
pct year-on-year at end-1988 from 2.4 pct at end 1987 and 2.1
pct last year.
    In annual average terms inflation would fall to two pct in
1988 from 2.5 pct this year and 2.7 pct last year, it said.
    Trade should show a one billion franc annual surplus this
year and next after last year's 0.5 billion surplus, it added.
    Employment should rise by 0.1 pct a year over the next two
years while the state budget deficit should be cut to 2.2 pct
of GDP in 1988 from 2.6 pct this year and 2.9 pct in 1986.
    Other forecasts prepared by the Commission indicated a 1.8
pct 1988 rise in household purchasing power, up from 1.1 pct
this year but less than last year's 2.9 pct, and a 1.6 pct rise
in household consumption, compared with this year's 1.5 pct and
last year's 2.9 pct.
    Business investment is forecast to rise four pct a year
this year and next after 3.7 pct last year, with private sector
productive investment rising 4.9 pct in 1988 after a six pct
rise this year and 5.5 pct in 1986.
    The Ministry said updated forecasts would be prepared
before the autumn to serve as the basis for the 1988 budget,
which the government is now preparing for presentation in
September.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13695" NEWID="8174">
<DATE>23-MAR-1987 06:34:25.91</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0431&#31;reute
u f BC-DANISH-TRADE-IN-BALAN   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>DANISH TRADE IN BALANCE IN FEBRUARY</TITLE>
<DATELINE>    COPENHAGEN, March 23 - </DATELINE><BODY>Denmark's balance of payments on
current account was provisionally put at zero in February,
against a 181 mln crown surplus in January and a 1.5 billion
deficit in February 1986, the National Statistics Office said.
    Exports rose to 13.94 billion crowns in February from 12.53
billion in January, against 14.16 billion in February last
year. February imports rose to 13.94 billion from 12.35 billion
in January, against 15.67 billion in February 1986.
    The February figure provisionally gives a trade surplus for
1987 of 180 mln crowns, against a 3.04 billion deficit in the
same 1986 period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13696" NEWID="8175">
<DATE>23-MAR-1987 06:41:27.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0435&#31;reute
u f BC-SMALL-DANISH-BANK-STO   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SMALL DANISH BANK STOPS PAYMENTS - INSPECTORATE</TITLE>
<DATELINE>    COPENHAGEN, MARCH  23 - </DATELINE><BODY>A small Danish private bank, the
6.Juli Banken A/S, stopped payments today following a need for
considerably higher provisions against loan losses, the
Government Bank Inspectorate said in a statement.
    Officials at the 6. Juli Bank were not immediately
available for comment and calls to the Copenhagen head office
were intercepted by an operator who said the office was closed.
    The Inspectorate statement said: "Payments have been stopped
out of regard for the depositors." This would allow closer
investigation with a view to reconstruction and "negotiations on
this have started."
    The statement said: "The inspectors have inquired into
certain financial transactions involving considerable
extraordinary income in the submission of the 1986 balance
sheet. The inspectors have not found themselves able to approve
this book entry.
    "The inspectors have further examined the bank's liquidity
position and its commitments and have established the need for
considerably higher provisions against losses on loans."
    The bank is independent and has four branches in the
Copenhagen area. Details of previous profits were not
immediately available.
    A spokesman for the Danish Banks Association said that the
6.July Bank was one of the smallest of Denmark's 80 banks, with
balance sheet total of 861 mln crowns at end 1985, the latest
year for which figures were available.
    Denmark's banking legislation stipulates that equity
capital and savings must be at least eight pct of debt and
guarantee commitments, higher than for many countries.
     REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13697" NEWID="8176">
<DATE>23-MAR-1987 06:46:33.98</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0439&#31;reute
b f BC-BEGHIN-SAY-SEES-SOLUT   03-23 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>BEGHIN-SAY SEES SOLUTION TO EC SUGAR DISPUTE</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>A settlement could soon be reached in the
dispute between European sugar producers and the European
Community over EC export licencing policies, Jean-Marc Vernes,
president of French sugar producer Beghin-Say, which is leading
the protest, told journalists today.
    "Our contacts with the EC authorities over the past few days
indicate that we are moving towards a solution," he said, adding
that if this happened the producers would withdraw the 854,000
tonnes of sugar they have offered into intervention.
    Vernes said that the protest, involving 770,000 tonnes of
sugar from French producers alone, was prompted by the EC's
policy since mid-1986 of offering export rebates which failed
to give producers an equivalent price to that they would obtain
by offering sugar into EC intervention.
    At last week's tender the EC Commission made an apparent
concession by offering a maximum rebate only 1.3 European
currency units (Ecus) per 100 kilos below the level producers
say is needed, compared with the previous week's rebate which
was 2.5 Ecus below the necessary level.
    Vernes would not say what form any compromise between the
producers and the EC would take, but he reaffirmed the
long-term desire of producers to export to the world market,
providing they were not losing money by doing so.
    Producers can withdraw their intervention offer after April
1, when the sugar will officially enter intervention stores, or
at any time over the following five weeks before the official
payment date.
    The EC has threatened to put the sugar back on the internal
market if the producers refuse to withdraw their offers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13698" NEWID="8177">
<DATE>23-MAR-1987 06:50:20.95</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;f0444&#31;reute
u f BC-DRESDNER-DECLINES-COM   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>DRESDNER DECLINES COMMENT ON SCRIP SHARE REPORT</TITLE>
<DATELINE>    FRANKFURT, March 23 - </DATELINE><BODY>A Dresdner Bank AG &lt;DRSD.F> spokesman
said the bank had no comment on newspaper reports that
shareholders would be offered free subscription shares.
    Dresdner shares surged to open 10.50 marks higher at
319.50, before climbing further. Other bank stocks also rose
strongly and dealers cited speculation already in the market
that Deutsche Bank AG &lt;DBKG.F> would make a similar move. Such
"scrip" issues, if they occurred, would mark the first time
German banks had ever issued free shares.
    The varying reports said Dresdner shareholders may be
offered one free share for every 15, 18 or 20 already held.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13699" NEWID="8178">
<DATE>23-MAR-1987 06:59:51.94</DATE>
<TOPICS><D>lei</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0453&#31;reute
u f BC-U.K.-LONGER-CYCLICAL   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. LONGER CYCLICAL INDICATOR RISES IN FEBRUARY</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The U.K. Longer leading cyclical
indicator rose in February by 5.8 pct after January's 1.9 pct
rise, figures from the Central Statistical Office show.
    The indicator, base 1980, which shows trends in the economy
12 months ahead, was put at 108.7 in February compared with
102.7 in January and 99.5 in February 1986.
    The shorter leading indicator, signalling trends six months
ahead, was put at 97.1 for January, the latest month for which
data were available, after December's 96.5. This compared with
98.4 in January 1986.
    The coincident indicator, designed to signal current
turning points in the economy, was put at 91.2 in January, down
from 91.9 in December and 91.6 in january 1986.
    The lagging index, which the CSO says shows a turning point
in the economy about a year after it happens, was at 92.4 in
January, down from 92.5 in December and 93.0 a year earlier.
    The Office said leading indicators still do not show a
consistent picture of the likely future developments of the
business cycle in Britain.
    It said the strong rise in the longer leading index between
December and February was due mainly to rises in share prices.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13700" NEWID="8179">
<DATE>23-MAR-1987 07:01:49.26</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;C G
&#22;&#22;&#1;f0456&#31;reute
u f BC-AUSTRALIAN-WHEAT-AREA   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN WHEAT AREA TO FALL, FORECASTER SAYS</TITLE>
<DATELINE>    MELBOURNE, March 23 - </DATELINE><BODY>Australian wheat plantings are
forecast to fall to 10.40 mln hectares in 1987/88 from 11.72
mln sown in 1986/87, Australian Wheat Forecasters Pty Ltd (AWF)
said in its first preliminary crop forecast.
    But there was no reason to expect Australian production in
1987/88 would be less than the 16.5 mln tonnes of last year,
the private forecaster said, as crops in New South Wales and
Queensland suffered from poor yields last season.
    Most of the fall in plantings was expected in Western
Australia while state average yields would be assisted by
growers sowing wheat on fallows and rest paddocks, it said.
    The main reason for a low Western Australia estimate was a
poor profit outlook under cost, credit and yield pressures. But
in the eastern states the wheat area should hold up provided
that rainfall between now and June is not less than average,
AWF said.
    Although some farmers were saying they intended to cut back
wheat area by 20 pct, AWF said this was unlikely since they
needed cash flow and there were problems with alternative
crops.
    "The lack of statutory marketing for oilseeds, pulses and
oats is a cause for concern if those crops are to comprise a
high proportion of growers' income," AWF said.
    AWF's state area forecasts in mln hectares, with 1986/87
production in mln tonnes, are as follows (crop forecasts were
not given for the new wheat year)
                   Area         Crop
             1987/88  1986/87  1986/87
 Queensland    0.82     0.82     0.95
 N.S.W.        3.07     3.17     4.40
 Victoria      1.53     1.63     3.25
 S.Australia   1.45     1.64     2.30
 W.Australia   3.53     4.46     5.60
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13701" NEWID="8180">
<DATE>23-MAR-1987 07:09:27.27</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0471&#31;reute
f f BC-FRENCH-JANUARY-INDUST   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH JANUARY INDUSTRIAL PRODUCTION FELL 1.98 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13702" NEWID="8181">
<DATE>23-MAR-1987 07:12:24.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0475&#31;reute
u f BC-CAPTAIN-CHARGED-IN-AQ   03-23 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>CAPTAIN CHARGED IN AQUINO BOMBING</TITLE>
<DATELINE>    BAGUIO, Philippines - </DATELINE><BODY>Military authorities say an unnamed
army captain has been arrested for involvement in last week's
bombing of the Philippine Military Academy.
    They told reporters the arrest of the captain had been
ordered after a search of his home revealed bombs and
ammunition.
    Four people died and 40 were injured in the blast, which
President Aquino said was designed as an attempt on her life.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13703" NEWID="8182">
<DATE>23-MAR-1987 07:14:27.11</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;f0479&#31;reute
b f BC-U.K.-MONEY-MARKET-SHO   03-23 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Bank of England said it revised down
its forecast of the deficit in the money market today to 750
mln stg from 800 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13704" NEWID="8183">
<DATE>23-MAR-1987 07:14:51.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0480&#31;reute
r f BC-DEBT-SOLUTION-REQUIRE   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>DEBT SOLUTION REQUIRES OPEN MARKETS, GERMAN BANKER</TITLE>
<DATELINE>    FRANKFURT, March 23 - </DATELINE><BODY>The solution of the world's debt
crisis requires open markets but a possible resurgence of
protectionism is the biggest danger, the president of the
Federal Association of German Banks, Wolfgang Roeller, said.
    Roeller, who is also management board spokesman of Dresdner
Bank AG, said in a radio interview it is unlikely Brazil's
suspension last month of part of its interest payments would
lead to a chain reaction in Latin America.
    It is important to increase the efficiency of debtor
countries to such an extent they earn sufficient currency from
exports to repay foreign debt, he said.
    Brazil had taken a unilateral step, Roeller said, but
Brazil had a strong and broad economic base. With the help of
appropriate economic programmes there should be a way to bring
back financial stability to that country.
    Roeller said action on the debt situation had to be taken
now. It could not be expected debtor countries would be able to
repay debts in the short run, even if economic conditions
improved. Programmes had to be developed which would strengthen
the economic position of these countries, to ensure world
economic growth so they are able to sell their products at
adequate prices.
    Roeller said the debt crisis could only be solved in
coordination with governments, international organisations such
as the World Bank and the International Monetary Fund, and
creditor banks.
    "This is not a topic which can be solved by creditor banks
alone," he said. One aim had to be to raise the credit standing
of debtor countries to such a degree they are able to raise
funds on international credit markets again. He said a whole
set of new ideas had been developed and he was convinced the
international banking system would provide more funds, but the
problem is not just economic but also political.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13705" NEWID="8184">
<DATE>23-MAR-1987 07:15:32.54</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0483&#31;reute
u f BC-JAPAN-LONG-TERM-PRIME   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN LONG-TERM PRIME SEEN CUT TO RECORD LOW SOON</TITLE>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Japan's long-term banks will soon cut
their prime rate, now at a record low 5.5 pct, by 0.2 or 0.3
percentage point in response to falling secondary market yields
on their five-year debentures, long-term bankers said.
    The long-term prime rate is customarily set 0.9 percentage
point above the coupon on five-year bank debentures issued by
the long-term banks every month.
    The latest bank debentures, at 4.6 pct, have met strong
end-investor demand on the prospect of further declines in yen
interest rates, dealers said. The current 5.5 pct prime rate
has been in effect since February 28.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13706" NEWID="8185">
<DATE>23-MAR-1987 07:15:38.81</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;f0484&#31;reute
u f BC-GERMAN-BUSINESS-CLIMA   03-23 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN BUSINESS CLIMATE WORSENS SLIGHTLY - INSTITUTE</TITLE>
<DATELINE>    MUNICH, March 23 - </DATELINE><BODY>The business climate in West German
manufacturing industry worsened slightly last month after
deteriorating markedly in January, the IFO economic research
institute said.
    It said its February survey showed firms were also
increasingly pessimistic about the outlook for the coming
months, causing them to cut back production plans.
    IFO blamed the worsening of the business climate and
outlook largely on expectations of further declines in foreign
demand.
    More than a quarter of the firms polled said they thought
orders in hand were insufficient.
    Overall, the business climate in February could be
described as just short of satisfactory, IFO said.
    In a breakdown of responses by industrial sector, the
institute said manufacturers of basic products judged the
business climate to be slightly less favourable in February
than in January. For the coming months they expect export
prospects to dim and production to fall, it added.
    Chemical firms reported a slight improvement in demand but
they increasingly said orders on hand were insufficient.
    The business climate in the capital goods industry was
unchanged in February compared with January, but IFO said this
was due entirely to positive reports from makers of commercial
vehicles.
    Demand in the capital goods sector was generally described
as weak, with the outlook in February cloudier than it had been
in January, the institute said.
    The business climate in the consumer durables sector
remained above the industry average in February. Carmakers were
again positive about current business but forecast a slight
worsening of business conditions in the near future.
    In the consumer goods industry business conditions were
described as favourable in February.
    A small cutback in production meant orders on hand in this
sector rose compared with January, the institute said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13707" NEWID="8186">
<DATE>23-MAR-1987 07:16:11.07</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>new-zealand</D></PLACES>
<PEOPLE><D>yeutter</D><D>de-clercq</D></PEOPLE>
<ORGS><D>gatt</D><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0485&#31;reute
u f BC-YEUTTER-SEES-U.S.,-JA   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SEES U.S., JAPAN VERGING ON TRADE CONFLICT</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>The United States and Japan
are on the brink of serious conflict on trade, especially over
semiconductors, Japanese unwillingness for public bodies to buy
U.S. Super-computers, and barriers to U.S. Firms seeking to
participate in the eight billion dlr Kansai airport project,
U.S. Trade Representative Clayton Yeutter said.
    He was talking to reporters yesterday on the eve of a
two-day meeting of trade ministers which will review progress
made by committees set up after the Uruguay meeting last
September launched a new round of GATT (General Agreement on
Tariffs and Trade) talks.
    European Community (EC) commissioner Willy de Clercq
meanwhile told reporters conflict between the world's three
major trading and economic powers -- the EC, the U.S. And Japan
-- set a poor example for other members of GATT.
    Australian Trade Minister John Dawkins told the reporters
bilateral retaliation at the enormous expense of the rest of
the world was no way to solve trade disputes.
    New Zealand trade minister Mike Moore told his colleagues
great progress had been made in preparing for the current round
of GATT negotiations which must not be sidetracked.
    The ministers have said they want to maintain the momentum
towards fresh negotiations or avert serious trade conflicts.
    Yeutter said the problem with international trade talks was
that they tended to get bogged down for years. "Countries don't
get very serious about negotiating until the end of the day
which is, maybe, five or six years in the future."
    He also said he did not consider the new U.S. Congress as
protectionist as it was 18 months ago. "That's a very healthy
development," he added."If you asked me about that a year or 18
months ago I would have said that it was terribly
protectionist."
    "Members of Congress, that is the contemplative members of
Congress, have begun to realise protectionism is not the answer
to the 170 billion dlr trade deficit," Yeutter said.
    "They've also begun to realise that you cannot legislate
solutions to a 170 billion dollar trade deficit so they are
more realistic and, in my judgement, more responsible on that
issue than they were 12 or 18 months ago."
    He added, "Whether that will be reflected in the legislation
that eventually emerges is another matter."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13708" NEWID="8187">
<DATE>23-MAR-1987 07:17:17.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D><D>brazil</D></PLACES>
<PEOPLE><D>mikulic</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0494&#31;reute
d f BC-PREMIER-SAYS-YUGOSLAV   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>PREMIER SAYS YUGOSLAVIA WILL PAY ITS DEBTS</TITLE>
<AUTHOR>    By Peter Humphrey, Reuters</AUTHOR>
<DATELINE>    BELGRADE, March 23 - </DATELINE><BODY>Yugoslavia, whose economic crisis is
under close scrutiny by foreign creditors, will not follow
Brazil by suspending repayments on its large foreign debt,
Prime Minister Branko Mikulic was quoted as saying.
    Mikulic was speaking to West German journalists in an
interview published yesterday by the Tanjug news agency.
    He said Yugoslavia had always paid its debts and would
continue to do so, but he said creditors and international
institutions should show more "understanding" for Yugoslavia's
situation.
    Mikulic said Yugoslavia had "understanding" for what Brazil
had done.
    Yugoslavia has almost 100 pct annual inflation, lagging
exports and low productivity. This month Makulic imposed
partial freezes on wages and prices which led to widespread
strikes. Tanjug said in the interview Mikulic warned the army
could be called in if Yugoslavia's political system was
threatened. Official reports show Yugoslavia ended 1986 with
hard currency debt of 19.7 billion dlrs. In 1986 it repaid a
record 5.97 billion in capital and interest, reducing its
overall debt by 996 mln dlrs.
    Government ministers told reporters last week they
regretted Yugoslavia made such an effort in 1986. They said the
cost to the economy had been too great.
    Earlier this month deputy prime minister Janos
Milosavljevic said Yugoslavia needed new credits. Foreign
Minister Raif Dizdarevic said in Caracas, "radical changes" in
interest rates and repayment times were needed.
    Western economists said Mikulic's remarks, taken with those
of his ministers, could be a signal some problems were seen
ahead in financing the debt repayments.
    Yugoslavia's debt refinancing timetable is to be considered
by the Paris club at the end of this month.
    The International Monetary Fund, which recently reviewed
the Yugoslav economy, is said by Western diplomats to be
alarmed at what it sees as a deteriorating economic crisis here
and the possibility of balance of payments problems later this
year.
    Mikulic visits West Germany next week, and debt is expected
to figure high on the agenda of his talks with Chancellor
Helmut Kohl.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13709" NEWID="8188">
<DATE>23-MAR-1987 07:19:03.24</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>iran</D><D>usa</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0499&#31;reute
u f BC-IRAN-SAYS-IT-INTENDS   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN SAYS IT INTENDS NO THREAT TO GULF SHIPPING</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Iran said reports that it intended to
threaten shipping in the Gulf were baseless, and warned the
U.S. And other countries not to interfere in the region.
    Tehran radio, monitored by the BBC, quoted a Foreign
Ministry spokesman as saying any attempt at interference would
be met by "a strong response from Iran and other Moslems in the
world."
     U.S. Defence Secretary Caspar Weinberger, in remarks
apparently unrelated to the broadcast, said the U.S. Would do
whatever was necessary to keep shipping lanes open in the face
of new Iranian anti-ship missiles in the Gulf.
    The U.S. State Department said two days ago Tehran had been
told of U.S. Concern that Iranian anti-ship missiles posed a
threat to the free flow of oil from the Gulf.
    U.S. Officials have said Iran has new Chinese-made
anti-ship "Silkworm" missiles, which pose a greater threat to
merchant ships than missiles used before.
    The Iranian spokesman said the reports that Iran intended
to attack ships were "misleading propaganda."
    He said Iraq's President Saddam Hussein was the main cause
of tension in the Gulf and said Iran would continue to use "all
its legitimate means to stem the cause of tension."
    Weinberger said in a television interview in the U.S. "We
are fully prepared to do what's necessary to keep the shipping
going and keep the freedom of navigation available in that very
vital waterway."
    "We aren't going into any disclosures or discussions of what
might happen, but we are certainly very sympathetic to and
listening carefully to any suggestions for our assistance in
keeping navigation free in that area," he said.
    Weinberger said U.S warship movements in the Gulf area were
not unusual.
    A U.S. Navy battle group led by the aircraft carrier Kitty
Hawk is currently in the northern Arabian Sea.
    The Iranian spokesman was quoted by Tehran radio as saying
the U.S. Was trying to build up its military presence in the
region.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13710" NEWID="8189">
<DATE>23-MAR-1987 07:26:09.90</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>trade</D></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0511&#31;reute
u f BC-BAKER-DENIES-DOLLAR-T   03-23 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER DENIES DOLLAR TARGET EXISTS</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>U.S. Treasury Secretary James Baker
again said the meeting of six major industrial nations in Paris
last month did not establish a target exchange rate for the
dollar.
    Baker said in a television interview aired here yesterday:
"We don't have a target for the dollar." He declined to comment
on what might be a desired level for the dollar, saying: "We
really don't talk about the dollar."
    He said protectionism was becoming "extremely strong" in the
U.S. In response to widening U.S. Trade deficits and import
barriers in other countries.
    "The mood in the United States is extremely disturbing. It's
extremely strong," he said.
    "As I've said before, we sort of see ourselves as engaged
here in a real struggle to preserve the world's free trading
system, because if the largest market in the world (the U.S.)
goes protectionist we run the risk of moving down the same path
that the world did in the late 1930s," he said.
    While relative exchange rates had a role to play in
defusing the threat of protectionism, it alone did not offer
any solution, he said.
    "You must address this problem on the exchange rate side,
but it cannot be solved on the exchange rate side alone. It's
far more comprehensive and broad than that, and the solution of
it requires a comprehensive approach," Baker said in the
interview.
    Baker said it would be necessary for other countries to
adjust their currencies upwards, as well as remove their
barriers to U.S. Imports. But he did not elaborate or name any
countries.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13711" NEWID="8190">
<DATE>23-MAR-1987 07:26:18.78</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0512&#31;reute
b f BC-FRENCH-INDUSTRIAL-PRO   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH INDUSTRIAL PRODUCTION FALLS IN JANUARY</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>French industrial production fell a
seasonally adjusted 1.98 pct in January after revised unchanged
output in December, the National Statistics Institute (INSEE)
said.
    The figure, which excludes construction and public works,
put the January index, base 1980, at 99 after 101 in December.
January output was 1.98 pct down on January 1986.
    INSEE, which from January changed its base year to 1980
from 1970, originally had December output down 2.2 pct on
November, using the old base year.
    INSEE said production in January was affected by rail
strikes and severely cold weather.
    It said output of gas and electricity was very high but
activity slowed on construction sites, in quarries and in
certain base industries.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13712" NEWID="8191">
<DATE>23-MAR-1987 07:26:35.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0514&#31;reute
u f BC-UNITED-SCIENTIFIC-UNI   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED SCIENTIFIC UNIT LANDS 4.3 MLN DLR CONTRACT</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Electro-optronic equipment makers
&lt;United Scientific Holdings Plc> said the Advanced Products
Division of its U.S. Subsidiary &lt;OEC Dallas, Texas> has been
awarded a 4.3 mln dlr contract by the U.S. Army.
    The contract is for the production of high energy laser
protection filters for binoculars. The three year contract
already includes options to the value of eight mln dlrs.
    United reported pretax profit of 3.2 mln stg on turnover of
117.9 mln stg in the year ended September 1986. The company's
shares were unchanged on Friday's close of 243p following
today's announcement.
    REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13713" NEWID="8192">
<DATE>23-MAR-1987 07:26:55.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0517&#31;reute
r f BC-BRAZIL-BUSINESS-LEADE   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL BUSINESS LEADERS CALL FOR TALKS WITH IMF</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SAO PAULO, March 22 - </DATELINE><BODY>Brazilian business leaders attending
a weekend meeting with President Jose Sarney called on the
government to seek help from the International Monetary Fund
(IMF) in resolving its debt problems.
    The government has so far rejected suggestions that it let
the IMF play a role in rescheduling its 109 billion dlr debt,
the biggest in the Third World.
    Finance Minister Dilson Funaro has said an IMF program for
Brazil, adopted four years ago, caused a recession and he
believes another IMF program would stifle growth.
    Sarney last month suspended interest payments on Brazil's
68 billion dlr commercial debt, a move which has found little
favour among the country's business community.
    Several businessmen called for a return to the IMF, arguing
this would give the country access to new funds and allow the
economy to grow. Both sides in the IMF debate say the course
they favour will enable Brazil to avoid recession.
    "We have to discuss the foreign debt like Mexico does, if
necessary going to the IMF," Mario Amato, president of the Sao
Paulo State Industries' Federation, was quoted as saying.
     An about-turn on the IMF issue would be politically very
difficult for the Sarney government and there are no firm
indications such a policy reversal is in the offing.
    The person most closely associated with the anti-IMF stance
is Finance Minister Dilson Funaro, who was not present at
yesterday's meeting. Brazilian newspapers highlighted his
absence and reported that several of the 24 businessmen present
seized the opportunity to tell Sarney they would like to see
Funaro leave his job.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13714" NEWID="8193">
<DATE>23-MAR-1987 07:29:06.12</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>colombia</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0526&#31;reute
u f BC-GOOD-DEMAND-FOR-COLOM   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>GOOD DEMAND FOR COLOMBIANS ON BREMEN MARKET</TITLE>
<DATELINE>    BREMEN, March 23 - </DATELINE><BODY>The Bremen green coffee market attracted
good buying interest for Colombian coffee last week, while
Brazils were almost neglected, trade sources said.
    Buyers were awaiting the opening of Brazil's export
registrations for May shipment, which could affect prices for
similar qualities, they said.
    Colombia opened export registrations and good business
developed with both the FNC and private shippers. Prices were
said to have been very attractive, but details were not
immediately available.
    Central Americans were sought for spot and afloat.
    In the robusta sector nearby material was rather scarce,
with turnover limited, the sources said.
    The following offers were in the market at the end of last
week, first or second hand, sellers' ideas for spot, afloat or
prompt shipment in dlrs per 50 kilos fob equivalent, unless
stated (previous week's prices in brackets) -
    Brazil unwashed German quals 100 (102), Colombia Excelso
105 (110), Salvador SHG 110 (108), Nicaragua SHG 109 (same),
Guatemala HB 111 (same), Costa Rica SHB 113 (112), Kenya AB FAQ
142 (134), Tanzania AB FAQ 120 (same), Zaire K-5 105 (unq),
Sumatra robusta EK-1 91 CIF (same).
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13715" NEWID="8194">
<DATE>23-MAR-1987 07:35:01.82</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;f0540&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-23 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN 97 MLN STG ASSISTANCE</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Bank of England said it provided the
money market with help of 97 mln stg in the morning session.
    This compares with the Bank's revised estimate of a 750 mln
stg shortage in the system today.
    The central bank bought bank bills outright comprising 12
mln stg in band one at 9-7/8 pct and 85 mln stg in band two at
9-13/16 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13716" NEWID="8195">
<DATE>23-MAR-1987 07:38:10.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0546&#31;reute
r f BC-BAKER-WARNS-AGAINST-F   03-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER WARNS AGAINST FORGIVENESS OF LATIN DEBT</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>U.S. Treasury Secretary James Baker said
any attempt to declare blanket debt forgiveness for major Latin
American debtor nations might damage the world economy.
    In an article in Monday's edition of the Miami Herald,
Baker also criticised the concept of short-term debt relief,
calling it a "dramatic, overnight solution."
    "While these ideas may be well-intentioned and have some
political appeal, they are impractical and counterproductive in
the long run," he said.
    The article was published to coincide with a three-day
meeting here of the Inter-American Development Bank (IADB).
    Baker is the chief architect of the U.S. Strategy on Third
World debt.
    Brazil, the Third World's largest debtor, last month
declared a moratorium on interest repayments. It has given no
indication of when it may resume interest payments, prompting
fears that some large U.S. Banks may be forced into substantial
debt writedowns and calling into question the viability of the
U.S. Strategy.
    Baker, defending the strategy, said private commercial
banks have rescheduled nearly 70 billion dlrs in debt since
October 1985 at longer maturities and lower interest rates.
    "Together with expected progress in commercial bank
discussions with Argentina and, we hope, Brazil, this should
add up to substantial new lending for the major Latin debtors
in 1987," Baker wrote.
    He estimated that debt-equity conversion plans accounted
for 2.5 billion dlrs last year in four of the region's major
debtor states. Such plans allow foreign bank creditors to sell
Third World debt at a discount to investors who then become
stockholders in firms in these countries. "These swaps aren't a
panacea, but they do demonstrate how a creative free market can
make progress in reducing the debt burden," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13717" NEWID="8196">
<DATE>23-MAR-1987 07:38:44.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0550&#31;reute
r f BC-BRAZIL-SEEKS-TO-REASS   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL SEEKS TO REASSURE BANKS ON DEBT SUSPENSION</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Brazil wants to resume interest payments
on its medium- and long-term foreign debt as soon as possible
and is willing to discuss ways of softening the impact of the
payments suspension on bank earnings, central bank governor
Francisco Gros said.
    Gros, speaking to reporters yesterday after his first
meeting with Brazil's bank advisory committee since he was
appointed last month, also promised a clear statement of
Brazil's economic policy would be made in the next few days.
    But bankers who attended the meeting with Gros said it was
inconclusive.
    The bankers also expressed disappointment Gros could not
give assurances as to when interest payments on the 68 billion
dlrs of medium- and long-term debt would restart.
    "It was all very tentative. You can't expect to get very far
at the first meeting," one banker said.
    The meeting took place on the eve of the annual meeting
here of the Inter-American Development Bank.
    The most urgent item on yesterday's agenda was the need for
a legal rollover of some 16 billion dlrs in trade and interbank
credit lines extended to Brazilian banks which expire at the
end of March.
    Brazil has already frozen the lines to ensure it has enough
credit to finance its day-to-day trade and commerce, but needs
to request a formal extension of the commitments to head off
possible lawsuits from disgruntled creditors.
    The issue is whether the 14-bank steering committee will
endorse Brazil's request to the 700 creditor banks worldwide or
simply relay it without comment.
    This delicate question was not resolved at yesterday's
meeting, but lawyers from both sides will try to draft suitable
language for a telex by midweek, Gros and the bankers said.
    Gros said he will also formally ask the banks for a 90-day
rollover of some 9.6 billion dlrs of debt which originally
matured in 1986 and is now due to be repaid on April 15.
Bankers said the request is a legal nicety since the money is
subject to the moratorium.
    Once interest on Brazil's debts becomes more than 90 days
overdue, U.S. And Canadian banks must put the loans on
non-performing basis and may book payments only as and when
they are received instead of accruing the interest in advance.
    Citicorp has estimated its profits for the first quarter
would be cut by 50 mln dlrs if it put Brazil on a cash basis.
Other U.S. Banks have also warned of earnings setbacks.
    Gros said he wished the 90-day rule was more flexible and
said he would be willing to sit down with the banks to see if
there was a way round the problem.
    He did not elaborate. But, asked whether a bridge loan
might be arranged to pay the interest, he said, "It could
happen."
    Bankers said this possibility had not been raised at the
committee meeting and dismissed it as inconsistent with
Brazil's determination to find a long-term solution to the
problem of servicing its 110 billion dlr foreign debt.
    Gros himself said pushing the problem away for 90 days at a
time is not very useful. Only if Brazil has access to new loans
can it grow, export and pay its debts over the longer term.
    "If the flow of funds dries up, a country like Brazil can't
meet all its obligations," he said.
    Gros defended Brazil's recent economic record, noting
inflation slowed in February, the trade surplus rose and the
public sector budget was in operational surplus.
    But he said there was a need to spell out government
policy, especially on prices.
    "It's necessary to clarify policy for internal and external
reasons," he said, but declined to say what economic measures
might be introduced.
    Once policy is in place, Gros said financing talks with the
banks are likely to be tough and protracted, a sentiment echoed
by the country's creditors.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13718" NEWID="8197">
<DATE>23-MAR-1987 07:40:02.28</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0561&#31;reute
b f BC-IRANIAN-TANKER-ATTACK   03-23 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>IRANIAN TANKER ATTACKED OVER WEEKEND - LLOYDS</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Iranian steam tanker Avaj, 316,379
tonnes dw, was attacked and hit at 1715 hours on March 21,
Lloyds Shipping Intelligence service reported.
    One person was killed. The tanker is owned by the National
Iranian Tanker Co.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13719" NEWID="8198">
<DATE>23-MAR-1987 07:50:06.42</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>usa</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0584&#31;reute
r f BC-NEXT-WORLD-TRADE-NEGO   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>NEXT WORLD TRADE NEGOTIATIONS MUST SUCCEED - NZ</TITLE>
<AUTHOR>    By Christopher Pritchett, Reuters</AUTHOR>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Ministers from more than 20
nations were told by New Zealand that the next international
negotiations on liberalising trade would be the last this
century and the cost of failure could not be measured.
    Trade minister Mike Moore told his colleagues at a
welcoming ceremony before two days of talks here that great
progress had been made in preparing for the negotiations which
must not be sidetracked.
    "We live in troubled and dangerous times for the world
trading system," he said.
    "We have seen that the failure of the world trading system
has caused great depression and conflict in the past. Our
failure to maintain the momentum will be at great cost to us
all," Moore said.
   "The cost of failure is beyond calculation. It is our last
hope and best opportunity this century. We will not get another
chance before the year 2000," he added.
    The ministers are in New Zealand to review world trade
since the "Uruguay round" talks last September. The talks are 
also part of preparations for a full-scale June meeting of the
General Agreement on Tariffs and Trade (GATT) in Venice.
    The Uruguay meeting is considered by most countries to have
been particularly successful, with northern hemisphere
countries managing to have service industries such as banking
and insurance included in the next full round.
    The southerners' goal of including agricultural and
tropical products also was met.
    The meeting at this North Island tourist resort is
described by participants as informal and no declaration is
expected.
    Moore said one aim was to "instil a sense of political
urgency to avert potential economic tragedy."
    Another was to seek ways of popularising freer trade to
people who felt the pain of readjustment but could not see the
benefits, as well as preventing "bush fires of confrontation
while we proceed with orderly negotiations."
    The meeting is being attended by 25 overseas delegations
including representatives of GATT and the Economic Community.
    The delegates include U.S. Trade Representative Clayton
Yeutter.
    American sources say he is ready to state that the best way
to reverse protectionist sentiment in the United States is to
implement four key Uruguay proposals:
    -- an end to agricultural subsidies;
    -- inclusion of trade in services and investments in GATT
regulations;
    -- tightening of restrictions on pirating of so-called
intellectual property such as trademarks, patents and
copyrights;
    -- new rules to resolve trade disputes among GATT's 92
member states.
    Earlier, New Zealand sources had said French Foreign Trade
Minister Michel Noir had pulled out of the informal GATT talks
for domestic political reasons.
    Cabinet chief Bernard Prauge will lead the French
delegation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13720" NEWID="8199">
<DATE>23-MAR-1987 07:53:48.40</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0597&#31;reute
b f BC-SWISS-SIGHT-DEPOSITS   03-23 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS SIGHT DEPOSITS RISE 743.7 MLN FRANCS</TITLE>
<DATELINE>    ZURICH, March 23 - </DATELINE><BODY>Sight deposits of commercial banks at
the Swiss National Bank rose 743.7  mln Swiss francs in the
second 10 days of March to 8.40 billion, the National Bank
said.
    Foreign exchange reserves fell 392.1 mln francs to 33.55
billion.
    Sight deposits are a major indicator of money market
liquidity in Switzerland.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13721" NEWID="8200">
<DATE>23-MAR-1987 08:03:48.25</DATE>
<TOPICS><D>coffee</D><D>ship</D></TOPICS>
<PLACES><D>uganda</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0624&#31;reute
u f BC-CASH-CRISIS-HITS-UGAN   03-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CASH CRISIS HITS UGANDAN COFFEE BOARD</TITLE>
<DATELINE>    KAMPALA, March 23 - </DATELINE><BODY>Uganda's state-run Coffee Marketing
Board (CMB) has been suffering a cash crisis for the past two
months due to a bottleneck in export shipments and
administrative delays in handling payments, trade sources said.
    The CMB needs between 10 and 15 billion shillings (the
equivalent of seven to 10 mln dlrs) to pay farmers and
processors for coffee already delivered, but its present export
revenue is insufficient to cover such expenditure, they said.
    The board's cash crisis has serious implications for the
economy as a whole, since coffee accounts for 95 pct of
Uganda's total exports.
    The CMB's financial difficulties first started in January
following delays in rail-freighting export consignments of
coffee to the ports of Mombasa, Dar es Salaam and Tanga.
    These delays were caused by a shortage of railway wagons in
Uganda and bottlenecks on the ferries which transport Ugandan
wagons across Lake Victoria to link up with the Kenyan and
Tanzanian railway systems, the sources said
    Marketing Minister John Sebaana-Kizito publicly
acknowledged on February 19 that the CMB had run up arrears to
local suppliers as a result of the shortage of transport for
moving exports.
    Sebaana-Kizito said at the time that the payments squeeze
would be resolved in two weeks.
    However, an accident to the rail ferry which plies between
the Ugandan lake port of Jinja and Kisumu in Kenya put it out
of action between February 21 and March 15, causing fresh
delays in cargo movements.
    Coffee exports are especially sensitive to the disruption
of rail transport since president Yoweri Museveni has banned
their haulage by road in a drive to save transport costs.
    Transport difficulties meant that by early February the CMB
was holding unsold coffee stocks of around 750,000 bags.
    These stocks were equivalent to one quarter of Uganda's
expected three mln 60-kilo bag 1986/87 (October-September)
crop, the sources said.
    According to the sources, the board's financial problems
have been aggravated by long delays in processing export
receipts.
    The coffee board was taking about eight weeks to recycle
export receipts into payments to local producers, whereas
export bills handled by local banks took half that time to
process, they said.
    The sources said the CMB's price structure had been
overtaken by Uganda's high inflation rate, unofficially
estimated at about 200 pct, and that this was a further
disincentive to producers, already owed large arrears.
    "The coffee pricing structure is wrong and three months
behind, the foreign exchange rate is unrealistic, and the
sooner the so-called economic package is put in top gear, the
better for the coffee industry and the economy as a whole," one
of the sources said.
    The government is currently negotiating a package of
economic reforms with the World Bank and International Monetary
Fund aimed at underpinning a renewed inflow of foreign aid to
help Uganda's economic recovery after 15 years of political
strife.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13722" NEWID="8201">
<DATE>23-MAR-1987 08:11:04.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0660&#31;reute
r f BC-ECONOMIST-CALLS-BRAZI   03-23 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ECONOMIST CALLS BRAZIL DEBT REQUEST MODEST</TITLE>
<DATELINE>    SAN FRANCISCO, March 23 - </DATELINE><BODY>Brazil's attempt to seek better
terms for paying off its 109 billion dlr foreign debt is
responsible and modest, a former chairman of President Reagan's
Council of Economic Advisers said.
    "I think that what Brazil is calling for -- limiting its
debt payments to two and one half pct of GNP -- is a
responsible request on their part," economist Martin Feldstein
said at a weekend news conference.
    "It requires additional money on the part of the banks, but
rather modest additional amounts."
    Feldstein is attending the annual meeting of the Trilateral
Commission, a foreign policy group of more than 300 business
and government leaders from North America, Europe and Japan.
    Feldstein, one of four members of a task force on Third
World debt, said that Brazil's request would mean an additional
credit of three billion to four billion dlrs from banks and
international agencies.
    "Brazil's debt would increase in dollar terms but remain
constant in real terms. The four billion dlr increase in
Brazil's 100 billion dlr debt would represent no increase in
the real inflation-adjusted size of its liability," he said.
    Feldstein said he believed current Third World debt
problems were less serious than those faced by the
international monetary system in 1983 and 1985.
    However, the European representative on the task force,
Herve de Carmoy, chief executive international for Midland Bank
PLC, disagreed.
    He called the present situation more difficult and, in a
draft proposal included in the task force's report, suggested
setting up an institution, possibly within the World Bank, with
a fund that could deal with a future debt crisis.
    Commission discussions were closed to reporters but it was
apparent from the news conference that task force members did
not agree on all points in their report.
    One point of agreement, Feldstein said, was that debtor
countries would need additional credit in the coming years if
they are to enjoy satisfactory growth.
    Feldstein said the task force, which also included Koei
Narusawa, economic adviser to the president of the Bank of
Toyko, and Paul Krugman, professor of economics at the
Massachusetts Institute of Technology, did not agree on how
much credit would be needed.
    He said they also did not reach a consensus on how willing
international banks, particularly those in Japan and Europe,
would be to lend the money.
    The Trilateral Commission was set up in 1973 by David
Rockefeller, former head of Chase Manhattan bank, and others to
promote closer cooperation among the three regions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13723" NEWID="8202">
<DATE>23-MAR-1987 08:11:52.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0666&#31;reute
r f BC-U.S.,-LATIN-NATIONS-D   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S., LATIN NATIONS DELAY DECISION ON IADB</TITLE>
<AUTHOR>    By Peter Torday, Reuters</AUTHOR>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>The United States and major Latin
American nations agreed to set aside sharp differences over
control of the Inter-American Development Bank (IADB) and
reconsider the issue this summer.
    The bank's policy-making board of governors, meeting here
ahead of this week's IADB annual meetings, put off any
decisions when it became apparent differences between
Washington and the Latin countries ware too great.
    IADB officials said Washington had indicated, however, it
might be prepared to compromise in the future.
    The United States is the principal donor nation and has
pressed the bank, controlled by the Latin American borrowing
nations, to cede virtual veto power over loans to Washington.
    The Reagan administration wants to make the bank part of
its controversial strategy to resolve the debt crisis.
    The U.S. Plan calls for loans from multilateral banks like
the IADB to be tied to economic reforms in debtor nations which
would promote open markets, reduced government intervention and
inflation-free economic growth.
    Brazil, which declared an interest payments moratorium last
month, is leading a challenge to Washington's strategy and
officials here obviously feared any decisions that might deepen
rifts between the United States and Third World nations.
    IADB officials also said Washington hinted at future
compromise. "The U.S. Said it remains hopeful they can reach an
agreement and expressed optimism that such a consensus could be
reached," said an official who asked not to be named.
    Washington has threatened to scuttle a 20-25 billion dlr,
four-year capital replenishment for the bank if the veto issue
is not resolved.
    But it has asked Congress to give it authority to finance
its one-third share in the event agreement on voting power is
reached. The United States controls 34.5 pct of the vote and
wants a loan veto to exist at the 35 pct level.
    Currently, a simple majority can approve or disapprove
loans giving the borrowing nations control of the purse strings
and resulting in loan conditions too lax for Washington's
taste.
    The U.S. Strategy for dealing with the debt crisis is
expected to be repeated by Treasury Secretary James Baker in a
speech to the bank's annual meeting today (Monday).
    But monetary sources expect Baker to suggest the United
States has some room for compromise and also to fend off other
challenges to its strategy by signalling Washington is open to
innovative solutions to the debt problem.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13724" NEWID="8203">
<DATE>23-MAR-1987 08:16:09.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D><D>ecuador</D><D>peru</D><D>nicaragua</D><D>bolivia</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0679&#31;reute
u f BC-BAKER-EXPECTED-TO-DEF   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER EXPECTED TO DEFEND DEBT STRATEGY</TITLE>
<AUTHOR>     By Peter Torday, Reuters</AUTHOR>
<DATELINE>     MIAMI, March 23 - </DATELINE><BODY>Treasury Secretary James Baker, facing
the toughest challenge to his Third World debt plan so far, is
expected today to stoutly defend the strategy.
     At an opening address to the annual meeting of the
Inter-American Development Bank here Baker is likely once again
to bluntly reject alternative approaches like wholesale debt
relief.
     The speech comes after Washington delayed its bid to wrest
control of IADB lending from Latin nations.
     The Treasury Secretary is also expected, U.S. officials
say, to portray that attempt as a crucial element in his plan
to promote inflation-free economic growth, open markets, and a
much-reduced government role in the economies of Latin America.
     "We have already seen substantial progress," Baker said in
a Miami Herald article and argued the plan was never meant to
be a "quick fix".
     But Brazil, Ecuador, Peru, Nicaragua and Bolivia have all
ceased servicing some or all of their debt. Brazil's interest
payments moratorium, announced last month, is being seen as a
major challenge to the Baker plan.
     Owing foreigners 109 billion dlrs, Brazil called an
indefinite interest payments moratorium on 68 billion dlrs of
commercial bank debt.
     Brazilian Central Banker Francisco Gros met bankers last
night to begin what U.S. officials predict will be months of
extremely tough negotiations.
     The scale of the problem is immense. Owing some 382
billion dlrs of foreign debt, Latin nations have since the
start of the decade paid out some  200 billion dlrs in interest
and principal and received about 28 billion dlrs in new loans.
     In addition, upwards of 100 billion dlrs in capital flight
is estimated to have left the region during that time.
     The Baker plan, unveiled in October, 1985, calls on
commercial and multilateral banks to increase lending by about
29 billion dlrs in the three subsequent years to the 15 major
debtors engaging in fundamental economic reform.
     The theory runs that once a debtor nation has reformed its
economy, it can service its debt comfortably and without an
atmosphere of crisis.
     U.S. officials emphasize some 8.5 billion dlrs has been
paid out in the first 14 months of the plan, payments of over
70 billion dlrs of debt has been stretched out into the future 
and Washington  is embracing new and innovative ideas to keep
debtor-creditor negotiations afloat.
     Baker is expected to underscore these points in his
address today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13725" NEWID="8204">
<DATE>23-MAR-1987 08:17:42.83</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;f0683&#31;reute
u f BC-GENERAL-PARTNERS-IN-G   03-23 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL PARTNERS IN GENCORP &lt;GY> PROXY FIGHT</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>General Partners, the group tendering
for all GenCorp Inc shares at 100 dlrs each, said it has
started soliciting proxies against GenCorp's proposals to
increase its number of authorized shares outstanding, create a
board with staggered election dates and eliminate cumulative
voting.
    The proposals are to be voted on at the March 31 annual
meeting.
    General Partners, a partnership of privately-held &lt;Wagner
and Brown> and AFG Industries Inc &lt;AFG>, made the disclosure in
a newspaper advertisement.
    The partnership has already filed suit in U.S. District
Court in Columbus, Ohio, seeking to block a vote on the
proposals and to invalidate GenCorp's defensive preferred share
purchase rights.
    General Partners asked shareholders to either vote against
the proposals or abstain from voting on them.                  
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13726" NEWID="8205">
<DATE>23-MAR-1987 08:18:26.57</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;f0686&#31;reute
u f BC-USAIR-&lt;U>-CUTS-PIEDMO   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>USAIR &lt;U> CUTS PIEDMONT &lt;PIE> SHARES SOUGHT</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>USAir Group Inc said it has amended
its 69 dlr per share tender offer for shares of Piedmont
Aviation Inc to reduce the maximum number it will accept to
9,309,394. Previously it had sought all shares.
    In a newspaper advertisement, USAir said the offer and
withdrawal rights have not been extended and will still expire
April 3, along with the new proration period.
    On Friday, the U.S. Department of Transportation approved
USAir's acquisition of 51 pct of Piedmont. If USAir were to
acquire more than 51 pct in the tender, it would be required to
sell the excess within one week.
    USAir said receipt of the 9,309,394 shares -- which is also
the minimum amount it will accept -- would give it a total of
about 61 pct of Piedmont shares currently outstanding and 50.1
pct on a fully diluted basis.
    The company said even if the purchase of the 9,309,394
Piedmont shares caused it to exceed the 51 pct limit, USAir
would waive the condition to the offer that the Transportation
Department approve a voting trust agreement permitting USAir to
buy and hold shares under the offer pending review of USAir's
application to gain control of Piedmont, subject to the order
not being rescinded or modified in an adverse way.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13727" NEWID="8206">
<DATE>23-MAR-1987 08:20:02.46</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>unctad</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0689&#31;reute
r f PM-RUBBER   03-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW RUBBER PACT ADOPTED AT GENEVA CONFERENCE</TITLE>
<DATELINE>    GENEVA, March 23 - </DATELINE><BODY>Producers and consumers representing
most of world trade in natural rubber adopted a new
International Natural Rubber Agreement (INRA) aimed at
stabilizing world prices over the next five years.
    Negotiations for a new INRA, to succeed the present one
which runs out next October, began nearly two years ago.
    Agreement on the new five-year pact, which uses a buffer
stock to keep prices stable by selling or buying rubber as
rates rise or fall, was reached at a two-week session here
under the auspices of the United Nations Conference on Trade
and Development (UNCTAD).
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13728" NEWID="8207">
<DATE>23-MAR-1987 08:27:01.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0696&#31;reute
r f AM-TAX   03-23 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSTENKOWSKI QUERIES IDEA OF U.S. SECURITIES TAX</TITLE>
<DATELINE>    BOCA RATON, Fla., March 23 - </DATELINE><BODY>House Ways and Means chairman
Dan Rostenkowski said he questioned whether a U.S. tax on
securities transactions would be appropriate.
    The Illinois Democrat told Reuters before addressing the
Future Industry Association that such a tax may impair the
international competitiveness of the U.S. securities business.
House Speaker James Wright has said a tax on securities
transactions could help reduce the federal deficit.
    Rostenkowski said he understood that the U.K. is exploring
the possibility of easing its tax burden on securities firms.
Thus, a new U.S. tax would be especially hard felt here.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13729" NEWID="8208">
<DATE>23-MAR-1987 08:27:51.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0703&#31;reute
r f BC-(CORRECTED)---BANCO-D   03-23 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>(CORRECTED) - BANCO DI ROMA UNIT ARRANGES</TITLE>
<DATELINE>    LONDON, March 20 - </DATELINE><BODY>Banco di Roma (London branch) has
arranged a 200 mln dlr Euro-certificate of deposit program,
Swiss Bank Corporation International Ltd said as sole dealer.
    The borrower also will have the option to issue
certificates in other available currencies, including sterling.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13730" NEWID="8209">
<DATE>23-MAR-1987 08:29:24.79</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0710&#31;reute
u f BC-STUDY-SAYS-OIL-PRICE   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>STUDY SAYS OIL PRICE FALL SPURS BANKRUPTCIES</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The sharp drop in world oil prices
the past year triggered a 60 pct increase in bankruptcies in
the country's oil states, according to a study released by the
American Petroleum Institute (API).
    API said the Dunn and Bradstreet study found that business
failures rose nationally by 6.9 pct in 1986 over 1985, but in
the "oil patch" of the Southwest the increase was 59.9 pct.
    It said bankruptcies in Texas were up 57.4 pct, Oklahoma,
55.9 pct, Colorado, 55.8 pct and Louisiana, 46.6 pct.
    In Alaska, failures rose by 66.2 per cent, it said.
    API also said that three of the states with the highest
number of bank failures last year were large oil and gas
producers - Texas, Oklahoma and Kansas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13731" NEWID="8210">
<DATE>23-MAR-1987 08:31:25.03</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>canada</D><D>australia</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0720&#31;reute
r f BC-WORLD-DEPENDENCY-ON-M   03-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD DEPENDENCY ON MIDEAST OIL SAID INEVITABLE</TITLE>
<AUTHOR>    By TED d'AFFLISIO, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>The world's dependency on the Mideast
as the source for its petroleum is growing and nothing is going
to stop it, Donald K. McIvor, an Exxon Corp &lt;XON> Director and
senior vice president told Reuters in an interview.
    "Non-OPEC production will begin to decline and the gap
between demand and supply will widen so that the trend to
increasing dependence on OPEC and the Middle East is
inevitable," McIvor said.
    Decreased supplies will firm prices for crude oil but are
not likely to change a growing dependence, McIvor said.
    McIvor, Exxon's senior vice president responsible for oil
and gas exploration and production said that dependence would
result from the Mideast's large spare capacity at a time when
the rest of the world consumes more oil than it was finding.
    "Since 1970 we've been consuming oil at rates of 20-25
billion barrels per year while making new discoveries of only
about 10-15 bilion barrels per year," McIvor said.
    "The bulk of the inventory and more than half of the
remaining proved reserves lies in the middle east which is
producing at much less than current capacity," he added.
    McIvor said that of the some 30,000 oil fields discovered
so far only 37 "one-one thousandth of the total number contained
about 35 pct of all the oil ever discovered."
    McIvor said, in response to a question, that he did not
believe there were any more "super giants", or oil fields with
reserves greater than five billion barrels, to be found which
would change the conclusion of the world's growing dependency.
    "Of those 37 super giants only 11 lie outside the Middle
East. Only five of the 37 have been discovered in the past 20
years and only two of these lie outside the middle east
(Cantarell in Mexico and Alaska's North Slope)." McIvor said.
    McIvor said that many of the large fields outside the U.S.
like Alaska's Prudhoe Bay and the North Sea were reaching a
peak and would soon begin to decline.
    But the Exxon executive said that there were still plenty
of opportunities to be explored and developed outside of the
Middle east, particulartly in Canada, the North Sea, and
Australia and Africa.
    McIvor said that decisions to explore and drill in those
areas would be depedent upon both the expectations of a higher
price of oil as well as the legal regime affecting the
companies.
    "The ideal regime is a stable one not one where there is a
constant change in policies," McIvor said.
    McIvor said he opposed import subsidies or tariffs used to
increase exploration as these only benefit one part of the
economy at the expense of other parts of the economy.
    Asked about the options offered this week by U.S. Energy
Secretary Herrington to increase U.S. production McIvor said he
could not comment on subjects like the oil depletion allowance
now but "the thrust of his (Herrington) report is valid. It has
highlighted the growing dependency on the Middle east and the
need to increase U.S. production."
    McIvor also said that he expected natural gas to play a
greater role in the future in meeting energy needs.
    "Natural gas will have the opportunity to become an
increasingly important part of the worlkd's energy supply,"
McIvor said.
    "Crude oil will be used more and more as a transportation
fuel and natural gas will be used more to generate heat, as an
industrial fuel," he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13732" NEWID="8211">
<DATE>23-MAR-1987 08:31:59.61</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0724&#31;reute
u f BC-S.-AFRICAN-CONSUMER-P   03-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>S. AFRICAN CONSUMER PRICE INFLATION RISES SLIGHTLY</TITLE>
<DATELINE>    PRETORIA, March 23 - </DATELINE><BODY>South African year-on-year consumer
price inflation rose slightly to 16.3 pct in February after
falling sharply to 16.1 pct in January from 18.1 pct in
December, Central Statistics Office figures show.
    The monthly rise in the all items index (base 1980) was
1.09 pct to 251.0 in February after a 1.4 pct increase to 248.3
in January.
    A year ago the index stood at 215.8 and year on year
consumer price inflation at 18.05 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13733" NEWID="8212">
<DATE>23-MAR-1987 08:36:50.99</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0748&#31;reute
u f BC-FINLAND-FEBRUARY-TRAD   03-23 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>FINLAND FEBRUARY TRADE SURPLUS AT 641 MLN MARKKA</TITLE>
<DATELINE>    HELSINKI, March 23 - </DATELINE><BODY>Finland had a 641 mln markka trade
surplus in February following an 80 mln markka surplus in
January and a 614 mln surplus in February 1986, Customs Board
preliminary figures showed.
    Exports in February were 6.38 billion markka and imports
5.74 billion compared with exports of 6.72 billion and imports
of 6.64 billion in January and exports of 6.92 billion and
imports of 6.31 billion in February last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13734" NEWID="8213">
<DATE>23-MAR-1987 08:40:42.08</DATE>
<TOPICS><D>grain</D><D>barley</D><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0752&#31;reute
u f BC-WEST-GERMAN-BARLEY,-R   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMAN BARLEY, RAPE AFFECTED BY WINTER KILL</TITLE>
<DATELINE>    HAMBURG, March 23 - </DATELINE><BODY>Winter kill has probably affected West
German winter barley and rapeseed to an above average degree
this season, West German grain trader Alfred C. Toepfer said in
its latest report.
    It is too soon to assess the extent of the damage, but it
is likely that northern West German crops are particularly at
risk because of insufficient snow cover, it said.
    The soil needs to warm up rapidly and moisture content must
improve to avoid further delays to spring field work, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13735" NEWID="8214">
<DATE>23-MAR-1987 08:47:20.72</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;f0757&#31;reute
u f BC-N.Z.-PORTS-REOPEN,-BU   03-23 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Z. PORTS REOPEN, BUT FURTHER DISRUPTION LIKELY</TITLE>
<DATELINE>    WELLINGTON, March 23 - </DATELINE><BODY>New Zealand ports reopened at 0730
hrs local time (1930 GMT March 22) after being closed since
March 19 because of a strike over pay claims by watersiders, a
Waterside Federation spokesman said.
    But industrial action by other port workers is likely to
cause further disruption, Harbour Workers union secretary Ross
Wilson told Reuters.
    Wilson said his members are holding stopwork meetings this
morning to consider further stoppages over their pay claim.
    The two disputes are not related.
    Harbour Workers around the country went on strike for 24
hours on March 16, but Wilson said any further action will
occur on a port-by-port basis.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13736" NEWID="8215">
<DATE>23-MAR-1987 08:47:55.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>sierra-leone</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0759&#31;reute
u f BC-SIERRA-LEONE-COUP-ATT   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SIERRA LEONE COUP ATTEMPT FAILED</TITLE>
<DATELINE>    FREETOWN, March 23 - </DATELINE><BODY>Forces loyal to President Joseph Momoh
foiled an attempted coup apparently led by senior police
officers in Sierra Leone, government sources said.
    The revolt included an unsuccessful raid on a Freetown
military arsenal during which a police officer's driver was
shot dead, they said. Police sources said a senior policeman
was arrested on suspicion of leading the coup attempt.
    There were no immediate reports in the official news media.
    Police and troops patrolled the centre of the capital and
there was no sign of further trouble.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13737" NEWID="8216">
<DATE>23-MAR-1987 08:49:52.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>boesky</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0763&#31;reute
u f BC-LIMITED-PARTNERS-SUE   03-23 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>LIMITED PARTNERS SUE BOESKY</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>A group of limited partners has filed
suit in U.S. District Court in New York against Ivan F. Boesky
and others, alleging that Boesky deceived them into investing
in his partnership Ivan F. Boesky and Co LP through the
preparation of deceptive partnership documents.
    The suit also names as defendants &lt;Drexel Burnham Lambert
Inc>, investment banker for the partnership, law firm Fried,
Frank, Harris, Shriver and Jacobson and its attorney Stephen
Fraidin, and financial services company Seligmann Harris and
Co, as well as former Drexel investment bankers Dennis A.
Levine and Martin A. Siegel.                           
    Levine and Siegel have already pleaded guilty to insider
trading violations, as has Boesky.
    The suit alleges that partnership documents prepared by the
law firm were misleading because they failed to disclose the
criminal violations to which Boesky later pleaded guilty.
Seligman helped recruit investors to the partnership, according
to the suit.
    The suit said the papers failed to disclose Drexel's
financial interests in the partnership.  It also said Boesky
failed to meet a pledge to invest at least 20 mln dlrs in the
partnership.
    The suit seeks an unspecified amount of damages from the
partnership and Boesky and damages from Fried, Frank and
Fraidin.
    The plaintiffs include Home Group Inc &lt;HME>, Lincoln
National Corp &lt;LNC>, a number of other institutional investors
and recently-named Morgan Stanley Group Inc &lt;MS> asset
management unit senior advisor Lewis Lehrman.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13738" NEWID="8217">
<DATE>23-MAR-1987 08:56:47.81</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;f0777&#31;reute
d f BC-&lt;MICROTEL-INC>-MAKES   03-23 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;MICROTEL INC> MAKES ACQUISITION</TITLE>
<DATELINE>    BOCA RATON, Fla., March 23 - </DATELINE><BODY>Microtel Inc said it has
completed the acquisition of &lt;American Teledata Corp> and its
US Dial subsidiary, which provide long distance telephone
service in northeast Florida. Terms were not disclosed.
    Microtel's shareholders include Norfolk Southern Corp
&lt;NSC>, M/A-Com Inc &lt;MAI>, Centel Corp &lt;CNT>, Alltel Corp &lt;AT>
and E.F. Hutton Group Inc &lt;EFH>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13739" NEWID="8218">
<DATE>23-MAR-1987 09:00:35.28</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;f0786&#31;reute
f f BC-******JAMESWAY-CORP-S   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>JAMESWAY CORP SETS 2-FOR-1 STOCK SPLIT, UPS CASH PAYOUT 33 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13740" NEWID="8219">
<DATE>23-MAR-1987 09:02:35.77</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;f0790&#31;reute
d f BC-&lt;AMERICAN-VARIETY-INT   03-23 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;AMERICAN VARIETY INTERNATIONAL INC> NINE MTHS</TITLE>
<DATELINE>    LOS ANGELES, March 23 - </DATELINE><BODY>March 31, 1986 end
    Shr loss seven cts vs loss 11 cts
    Net loss 76,888 vs profit 106,885
    Revs 752,234 vs 922,036
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13741" NEWID="8220">
<DATE>23-MAR-1987 09:08:30.42</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;f0802&#31;reute
r f BC-AMERICAN-VARIETY-ACQU   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN VARIETY ACQUISITION PACT TERMINATED</TITLE>
<DATELINE>    LOS ANGELES, March 23 - </DATELINE><BODY>&lt;American Variety International
Inc> said its agreement to acquire &lt;First National
Entertainment Corp> has been terminated because First National
was not able to fulfill terms of the agreement.
    It said due to protracted negotiations with First National,
several American Variety divisions were inoperative in 1986.
    American Variety said it is reevaluating its record and
tape library for possible conversion to compact discs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13742" NEWID="8221">
<DATE>23-MAR-1987 09:12:39.06</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;f0809&#31;reute
u f BC-JAMESWAY-&lt;JMY>-SETS-S   03-23 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>JAMESWAY &lt;JMY> SETS SPLIT, HIGHER CASH PAYOUT</TITLE>
<DATELINE>    SECAUCUS, N.J., March 23 - </DATELINE><BODY>Jamesway Corp said its board
declared a two for one stock split and increased the quarterly
cash dividend by 33 pct.
    The company said the dividend on the pre-split shares was
increased to four cts from three cts.
    It said both the split and the dividend are payable May 23
to holders of record April 20, adding the company will have
about 13,860,000 shares outstanding after the split.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13743" NEWID="8222">
<DATE>23-MAR-1987 09:15:59.76</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;f0817&#31;reute
b f BC-HARPER/ROW-&lt;HPR>-GETS   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>HARPER/ROW &lt;HPR> GETS EXPRESSIONS OF INTEREST</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Harper and Row Publishers Inc said its
special committee of independent directors has received
expressions of interest from a considerable number of domestic
and foreign firms with respect to restructuring or acquisition
transactions with the company.
    Winthrop Knowlton, chairman of special committee said "no
determination has been made by the full board as to any
transaction."
    He said the special committee and Kidder Peabody and Co Inc
intend to engage in discussions with interested parties in an
effort to come to a conclusion in the near future.
    Formation of the special committee was announced early last
week when Harper and Row said its board had taken no action on
two pending acquisition proposals.
    At that time, directors also indefinately postponed a
planned special shareholders vote on a restructuring proposal
which would have created a Class B common with 10 votes a share
and limited transferability.
    The acquisition proposals had come from Theodore L. Cross,
owner of about six pct of the company's stock who offered 34
dlrs a share, and Harcourt Brace Jovanovich Inc &lt;HBJ>, which
offered 50 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13744" NEWID="8223">
<DATE>23-MAR-1987 09:17:49.88</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;f0822&#31;reute
f f BC-******HUMANA-INC-2ND   03-23 0007</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>HUMANA INC 2ND QTR SHR 44 CTS VS 54 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13745" NEWID="8224">
<DATE>23-MAR-1987 09:18:09.61</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;f0823&#31;reute
u f BC-FRUIT/LOOM-&lt;FTL>-TO-S   03-23 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>FRUIT/LOOM &lt;FTL> TO SELL UNIT FOR 145 MLN DLRS</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Fruit of the Loom Inc said it agreed to
sell its General Battery Corp subsidiary to Exide Corp for
about 145 mln dlrs in cash.
    The proposed sale will complete Fruit of the Loom's
previously announced plan to divest itself of unrelated
businesses.
    Proceeds from the proposed transaction are more than the
price projected in the company's recent initial public
offering, it said.
    Completion of the transaction is subject to a definitive
agreement, regulatory approvals, financing and certain other
conditions and is expected to close May one, 1987, the company
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13746" NEWID="8225">
<DATE>23-MAR-1987 09:23:51.08</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;f0830&#31;reute
r f BC-CITYQUEST-MAKES-120-M   03-23 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CITYQUEST MAKES 120 MLN STG BID FOR WICKES</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>&lt;Cityquest Plc>, a newly formed company,
is making a recommended 120 mln stg offer for builders
merchants and DIY (do-it-yourself) company &lt;Wickes Plc>, Wickes
said in a statement.
    Undertakings to accept what is effectively a management
buyout have been accepted by holders of 88.9 pct of the shares.
    The statement said the offer was due to a decision by
Wickes International Corp, a member of the U.S. Wickes
Companies &lt;WIX.A> Inc group, which holds an 80.5 pct stake, to
realise much of its investment.
    The offer would enable Wickes to become fully independent
and once the bid succeeded all the Wickes directors would
become members of the Cityquest board.
    The offer will be of 345p cash for every Wickes share.
Wickes was last quoted at 345p compared with 275p at Friday's
close.
    Wickes shareholders will also have the option of taking one
Cityquest share or 205p in loan notes for every 205p of the
cash consideration.
    Henry Sweetbaum is chairman and chief executive of both
Cityquest and Wickes, and it was intended that Cityquest's name
would be changed to Wickes in due course.
    Wickes came to the U.K. Unlisted Securities Market in
January, 1986 with a capitalisation of about 96 mln stg.
    Cityquest has a fully paid share capital of one mln stg. S
G Warburg Securities has organised commitments from a group of
investors to subscribe for 65 mln stg in shares and 28.2 mln
stg in subordinated convertible loan stock. Lead investor is
Investors in Industry Plc
    Cityquest also has loan facilities of 30 mln stg.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13747" NEWID="8226">
<DATE>23-MAR-1987 09:25:46.78</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;f0836&#31;reute
u f BC-HUMANA-INC-&lt;HUM>-2ND   03-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>HUMANA INC &lt;HUM> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    LOUISVILLE, Ky., March 23 -
    </DATELINE><BODY>Shr 44 cts vs 54 cts
    Net 42.9 mln vs 53.7 mln
    Revs 983.3 mln vs 858.8 mln
    Six mths
    Shr 85 cts vs 1.11 dlrs
    Net 83.1 mln vs 109.8 mln
    Revs 1.91 billion vs 1.66 billion
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13748" NEWID="8227">
<DATE>23-MAR-1987 09:26:12.50</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;f0838&#31;reute
r f BC-WINCHELL'S-DONUT-&lt;WDH   03-23 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>WINCHELL'S DONUT &lt;WDH> SETS INITIAL QUARTERLY</TITLE>
<DATELINE>    LA MIRADA, Calif., March 23 - </DATELINE><BODY>Winchell's Donut Houses LP
said it has declared an initial quarterly dividend of 45 cts
per unit on Class A and Class B limited partnership units,
payable May 29 to holders of record March 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13749" NEWID="8228">
<DATE>23-MAR-1987 09:26:22.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0839&#31;reute
r f BC-TANDON-&lt;TCOR>-GETS-50   03-23 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>TANDON &lt;TCOR> GETS 50 MLN DLR CONTRACT</TITLE>
<DATELINE>    CHATSWORTH, Calif., March 23 - </DATELINE><BODY>Tandon Corp said it has
agreed in principle to sell to personal computer maker &lt;Amstrad
PLC> during 1987 about 50 mln dlrs of 20 megabyte Winchester
disk drives.
    It said shipments have already begun and about 30 mln dlrs
of the drives are scheduled for delivery during the first half.
 The drives are in half-height configuration.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13750" NEWID="8229">
<DATE>23-MAR-1987 09:26:35.29</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;f0840&#31;reute
r f BC-TRITON-GROUP-LTD-&lt;TRR   03-23 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>TRITON GROUP LTD &lt;TRRO> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    LA JOLLA, Calif., March 23 -
    </DATELINE><BODY>Oper shr profit nil vs loss nil
    Oper net profit 671,000 vs loss 138,000
    Sales 104.3 mln vs 70.8 mln
    Avg shrs 101.2 mln vs 66.8 mln
    Year
    Oper shr profit six cts vs profit five cts
    Oper net profit 6,309,000 vs profit
    5,144,000
    Sales 349.8 mln vs 303.4 mln
    Avg shrs 85.0 mln vs 76.3 mln
    NOTE: Net excludes discontinued operations nil vs gain
196,000 dlrs in quarter and loss 293,000 dlrs vs gain 407,000
dlrs in year.
    Net excludes tax loss carryforward 1,423,000 dlrs vs
reversal of tax credit 625,000 dlrs in quarter and credits
5,437,000 dlrs vs 7,261,000 dlrs in year.
    Results include U.S. Press Inc from November Three
acquisition.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13751" NEWID="8230">
<DATE>23-MAR-1987 09:26:46.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0841&#31;reute
r f BC-BLOCKBUSTER-&lt;BBEC>-UN   03-23 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>BLOCKBUSTER &lt;BBEC> UNIT SIGNS EXCLUSIVE LICENSE</TITLE>
<DATELINE>    DALLAS, March 23 - </DATELINE><BODY>Blockbuster Entertainment Corp said its
Blockbuster Distribution Corp unit granted an exclusive license
agreement to &lt;Video Superstore Management Inc>.
    Blockbuster said the license gives Video the right to own
and operate its Blockbuster Videos Rental Superstores for the
Milwaukee, Wis., area.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13752" NEWID="8231">
<DATE>23-MAR-1987 09:27:02.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0843&#31;reute
r f BC-&lt;AMPLICON-INC>-FILES   03-23 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;AMPLICON INC> FILES FOR INITIAL OFFERING</TITLE>
<DATELINE>    SANTA ANA, Calif., March 23 - </DATELINE><BODY>Amplicon Inc said it has
filed for an initial public offering of 1,650,000 common shares
through underwriters led by &lt;Kidder, Peabody and Co Inc> and
E.F. Hutton Group Inc &lt;EFH> at an expected price of 12 to 14
dlrs per share.
    The company well sell 1,400,000 shares and shareholders the
rest, with company proceeds used to finance growth in its
financing and leasing portfolio and for working capital. 
Amplicon leases and sells business computers and peripherals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13753" NEWID="8232">
<DATE>23-MAR-1987 09:27:09.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0844&#31;reute
d f BC-SUN-MICROSYSTEMS-&lt;SUN   03-23 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>SUN MICROSYSTEMS &lt;SUNW> CONTRACT EXTENDED</TITLE>
<DATELINE>    MOUNTAIN VIEW, Calif., March 23 - </DATELINE><BODY>Sun Microsystems Inc said
it has received a one-year 15 mln dlr renewal of its agreement
to provide Interleaf Inc &lt;LEAF> with Sun-3 technical
workstations on an original equipment basis.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13754" NEWID="8233">
<DATE>23-MAR-1987 09:27:21.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0845&#31;reute
d f BC-HEWLETT-PACKARD-&lt;HWP>   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>HEWLETT-PACKARD &lt;HWP> BEGINS TEST SHIPMENTS</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Hewlett-Packard Co said it began
limited customer shipments of its HP 3000 Series 930 business
computer and remains on schedule for first commercial shipments
in mid-1987.
    Shipments of the higher-performance series 950 business
computers are scheduled for the second half of this year, it
said.
    In September, the company postponed initial shipments of
the Series 930 computer until mid-1987 because performance of
the operating software system was below target.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13755" NEWID="8234">
<DATE>23-MAR-1987 09:28:26.30</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0849&#31;reute
d f BC-NIGERIA-CHANGES-AUCTI   03-23 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>NIGERIA CHANGES AUCTION RULES TO DEFEND NAIRA</TITLE>
<DATELINE>    LAGOS, March 23 - </DATELINE><BODY>Nigeria's Central Bank has changed the
rules governing its foreign exchange auctions in what analysts
see as a means of defending the naira currency, which has
depreciated steadily.
    The bank said in a statement that from April 2, banks
bidding for foreign exchange would have to pay at the rate they
offered and not, as presently, at the rate of the lowest
successful bid made at the auction.
    This should discourage banks from bidding high to ensure
that they were successful while paying the lower "marginal" rate,
analysts said.
    The Central Bank also announced the auctions would be
fortnightly, not weekly, beginning on April 2.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13756" NEWID="8235">
<DATE>23-MAR-1987 09:28:49.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0850&#31;reute
r f BC-REEBOK-INTERNATIONAL   03-23 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>REEBOK INTERNATIONAL &lt;RBOK> GETS NEW PRESIDENT</TITLE>
<DATELINE>    CANTON, Mass., March 23 - </DATELINE><BODY>Reebok International Ltd said it
named C. Joseph LaBonte, 47, president and chief operating
officer of the company.
    LaBonte, former president and chief operating officer of
20th Century Fox Film Corp, was more recently founder and chief
executive officer of Vantage Group Inc, an investment and
financial company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13757" NEWID="8236">
<DATE>23-MAR-1987 09:29:07.15</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;f0851&#31;reute
r f BC-AAR-CORP-&lt;AIR>-3RD-QT   03-23 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>AAR CORP &lt;AIR> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    ELK GROVE VILLAGE, ILL., March 23 - 
    </DATELINE><BODY>Shr 37 cts vs 32 cts
    Net 3,892,000 vs 2,906,000
    Sales 71.8 mln vs 64.5 mln
    Nine mths
    Shr 1.08 dlrs vs 91 cts
    Net 10,946,000 vs 8,206,000
    Sales 214.1 mln vs 179.4 mln
    Avg Shrs 10.5 mln vs 9.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13758" NEWID="8237">
<DATE>23-MAR-1987 09:29:25.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0852&#31;reute
w f BC-TANDEM-COMPUTERS-&lt;TND   03-23 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>TANDEM COMPUTERS &lt;TNDM> GETS INSTALLATION</TITLE>
<DATELINE>    CUPERTINO, Calif., March 23 - </DATELINE><BODY>Tandem Computers Inc said
Pacific Gas and Electric Co &lt;PCG> installed a Tandem computer
system for on-line information management at the Diablo Canyon
nuclear power plant near San Luis Obispo, Calif.
    No value for installation of the Nonstop VLX system was
given.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13759" NEWID="8238">
<DATE>23-MAR-1987 09:31:03.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0856&#31;reute
r f BC-PACIFIC-RESOURCES-&lt;PR   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC RESOURCES &lt;PRI> NAMED IN LAWSUIT</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Pacific Resources Inc said it has been
named in a lawsuit filed in California by Aetna Casualty and
Surety Co &lt;AET> relating to the 1984 Chapter 11 bankruptcy of
Paramount Petroleum Corp (PPC), in which a PRI subsidiary had a
40 pct stake.
    Aetna is claiming up to 17 mln dlrs in compensatory damages
and 30 mln dlrs in punitive damages against the defendants as a
result of alleged acts to fraudulently induce Aetna to issue
surety bonds for the benefit of PPC and its predecessor Pacific
Oassis.
    PRI said that the legal action against it lacks merit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13760" NEWID="8239">
<DATE>23-MAR-1987 09:31:44.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0860&#31;reute
u f BC-NIGERIA-OPENS-TALKS-W   03-23 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>NIGERIA OPENS TALKS WITH U.K. TO RESCHEDULE DEBT</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Representatives from Nigeria are meeting
today and tomorrow with officials of Britain's Export Credits
Guarantee Department (ECGD) in the first of what could be a
series of bilateral talks to reschedule Nigeria's official
debts, banking sources said.
    The talks follow an agreement reached between Nigeria and
the Paris Club of western creditor governments in December to
reschedule some 7.5 billion dlrs of medium and long-term debt
due between September, 1986 and end 1987 over 10 years with
five years grace. Nigeria's official debts to the U.K., Its
major trading partner, are estimated at 2.5 to three billion
dlrs.
    If the talks prove successful, the Nigerian team, headed by
Finance Minister Che Okongwu and Central Bank Governor
Abdulkadir Ahmed, will hold similar talks with French export
credit officials in Paris later this week, the sources said.
    An agreement could pave the way for ECGD to resume
insurance cover for exports to Nigeria, which was suspended in
1983.
    The rescheduling of Nigeria's official debts was one of the
demands required under a rescheduling of part of the country's
estimated 19 billion dlrs of commercial bank debt, for which
agreement also was reached in December between Nigeria and a
steering committee representing the commercial banks.
    The commercial bank rescheduling has yet to be finalised
because of the reluctance of Japanese banks to participate in
the agreement, despite a recent trip to Japan by senior
Nigerian officials and representatives of the steering
committee.
    The entire package also is being held up because of the
need to reach an agreement to satisfy arrears due on short-term
insured and uninsured debts. However, bankers are hopeful that
an accord will be struck by May 31.
    The Nigerians also are attempting to reconcile creditors'
claims with their own receipts on some two billion dlrs of
letters of credit contained in the commercial bank
rescheduling.
    Bankers said that it was hoped that the ECGD would resume
cover fairly soon as this could encourage other official
creditors to begin bi-lateral talks as well.
    Under the structural adjustment program supporting the debt
reschedulings Nigeria is due to receive 900 mln dlrs in fresh
export credits this year from official export credit agencies.
    British exports to Nigeria were 565 mln stg in 1986, down
from 960 mln in 1985, while Nigeria's exports to Britain, which
do not include oil, were 328 mln stg and 647 mln, respectively.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13761" NEWID="8240">
<DATE>23-MAR-1987 09:34:15.54</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0877&#31;reute
u f PM-GATT-DEBT   03-23 0147</UNKNOWN>
<TEXT>&#2;
<TITLE>GATT MEETING HEARS PLEA FOR AFRICAN DEBT RELIEF</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23, Reuter - </DATELINE><BODY>Debt among African
countries will continue to grow and their economies will remain
stifled unless developed countries lower their interest rates,
Nigerian Trade Minister Samaila Mamman said today.
    He told an informal meeting of the General Agreement on
Tariffs and Trade the widening gap between industrialized and
developing countries and an unfair international economic
system were major obstacles to growth in developing countries.
    "I wish to emphasize that the growth in the volume of the
external indebtedness of African countries reflects the full
effect of the deflationary monetary and trade policies of the
developed market economy countries," Mamman said.
    Delegates from 23 countries are attending the talks of the
world trade body in the New Zealand resort of Taupo.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="BYPASS" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13762" NEWID="8241">
<DATE>23-MAR-1987 09:35:05.77</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f0882&#31;reute
u f BC-slaughter-guesstimate   03-23 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 295,000 to 305,000 head versus
295,000 week ago and 305,000 a year ago.
    Cattle slaughter is guesstimated at about 120,000 to
125,000 head versus 114,000 week ago and 119,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13763" NEWID="8242">
<DATE>23-MAR-1987 09:35:45.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>portugal</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0886&#31;reute
u f BC-MACAO-PACT-DETAILS--R   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MACAO PACT DETAILS  RELEASED AFTER THURSDAY SIGNING</TITLE>
<DATELINE>    PEKING, March 23 - </DATELINE><BODY>Details of today's agreement to hand
over Portuguese-ruled Macao to China will be released after the
official signing in Peking on Thursday, Portuguese Ambassador
to Peking Octavio Valerio said.
    Valerio earlier told reporters that the tiny territory
would be returned to Chinese rule on December 20, 1999, but
gave no further details.
    A statement issued today did not give details of the
agreement as earlier expected.
    "We are very happy with the results," Valerio said after four
days of negotiations in the Chinese capital.
    The talks were the fourth in a series on the Macao question
and had been expected to focus on the status of the 40,000
Portuguese passport-holders among Macao's 400,000 residents.
    Asked if the issue of nationality after the Chinese
takeover had been a problem in the talks, Valerio replied: "It
was one of them."
    China traditionally opposes granting dual nationality to
its citizens and requires holders of foreign passports to give
up their Chinese citizenship.
    In Taipei, Taiwan said it would not recognise the
agreement. A Foreign Ministry statement said: "We regard the
agreement on the Macao issue as null and void."
    It said: "Macao should be returned to the Republic of China
on Taiwan because communist China, a rebel entity, has no right
to represent China and all the Chinese people.
    "The handover by the Portuguese government is in disregard
of the freedom, welfare and safety of more than 400,000 Chinese
people there. We will try our upmost to help and protect them."
    Taiwan's Kuomintang (Nationalist) government claims to rule
all China. It has no diplomatic relations with Portugal.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13764" NEWID="8243">
<DATE>23-MAR-1987 09:36:16.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0888&#31;reute
b f BC-ICN-PHARMACEUTICALS-&lt;   03-23 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>ICN PHARMACEUTICALS &lt;ICN> TO BUY BACK SHARES</TITLE>
<DATELINE>    COSTA MESA, Calif., March 23 - </DATELINE><BODY>ICN Pharmaceuticals Inc said
its board approved the purchase of up to three mln shares of
its outstanding common stock.
    ICN also said it plans to buy up to 500,000 more shares
each of Viratek Inc &lt;VIRA> and SPI Pharmaceuticals Inc &lt;SPIP>.
    ICN said the buyback plans were approved because the board
believed that at current prices the investment represented by
the ICN group itself is in the best interests of the
shareholders of the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13765" NEWID="8244">
<DATE>23-MAR-1987 09:37:21.94</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0893&#31;reute
u f BC-JAPAN-SAYS-IT-TRYING   03-23 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN SAYS IT TRYING TO EXPAND DOMESTIC DEMAND</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Japan has assured a meeting
of trade ministers it is making every effort to expand domestic
demand and restructure its economy.
    Japanese trade representative Tsomu Hata told an informal
General Agreement on Tariffs and Trade (GATT) meeting that, in
addition to demand boosting measures adopted last September, a
comprehensive economic program will be prepared after the
1987/88 budget is approved.
    Hata, speaking at the first session of the two-day meeting,
said agriculture is no exception to the goal of restructuring
the economy, but did not elaborate.
    Hata said protectionist pressures in the international
economy are as strong as ever, reflecting financial deficits,
payment imbalances and serious unemployment in many countries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13766" NEWID="8245">
<DATE>23-MAR-1987 09:37:52.47</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0897&#31;reute
f f BC-******supermarkets-ge   03-23 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SUPERMARKETS GENERAL CORP 4TH QTR 50 CTS VS 52 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13767" NEWID="8246">
<DATE>23-MAR-1987 09:41:42.49</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M T
&#22;&#22;&#1;f0907&#31;reute
u f BC-WEST-GERMAN-SHIP-SINK   03-23 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMAN SHIP SINKS OFF WEST AFRICA</TITLE>
<DATELINE>    LAS PALMAS, March 23 - </DATELINE><BODY>The West German-registered motor
vessel Stefan E. Sank off the West African coast early today
and one of its eight crew members was killed, a Spanish navy
spokesman said.
    He said the captain of the Singapore-registered tanker Nord
Pacific reported in a radio message that he had picked up the
remaining seven crewmen of the 2,223 tonnes dw Stefan E.,
Together with the body of the dead man.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13768" NEWID="8247">
<DATE>23-MAR-1987 09:47:48.80</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;f0922&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-23 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN FURTHER 485 MLN STG HELP</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Bank of England said it had given
the money market a further 485 mln stg assistance in the
afternoon session. This takes the Bank's total help so far
today to 582 mln stg and compares with its forecast of a 750
mln stg shortage in the system today.
    The central bank bought bank bills outright comprising 345
mln stg in band one at 9-7/8 pct and 75 mln stg in band two at
9-3/16 pct. It also purchased 65 mln stg of treasury bills in
band one at 9-7/8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13769" NEWID="8248">
<DATE>23-MAR-1987 09:48:31.97</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
u f BC-REYNOLDS-METALS-&lt;RLM>   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>REYNOLDS METALS &lt;RLM> REGISTERS DEBENTURES</TITLE>
<DATELINE>    RICHMOND, Va., March 23 - </DATELINE><BODY>Reynolds Metals Co said it filed
a registration statement with the securities and exchange
commission covering a planned offering of 200 mln dlrs of
convertible subordinated debentures due April 1, 20012.
    The company said underwriters, led by Goldman Sachs and Co,
will be granted an option to purchase up to an additional 30
mln dlrs of debentures to cover over allotments.
    Reynolds said its proceeds will be used to refinance
certain long-term debt. Application has been made to list the
debentures on the New York Stock Exchange.
    Reynolds said the debentures, which will be offered in
denominations of 1,000 dlrs, may be converted into Reynolds
common and are redeemable in whole or in part at the option of
the company after Apil 1, 1989. They have a sinking fund
requirement starting in 1998 calculated to retire at least 70
pct of the debentures prior to maturity.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13770" NEWID="8249">
<DATE>23-MAR-1987 09:49:04.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0929&#31;reute
r f BC-INLAND-STEEL-&lt;IAD>-TO   03-23 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>INLAND STEEL &lt;IAD> TO MAKE "MAJOR ANNOUNCEMENT"</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Inland Steel Industries Inc said it
will hold a news conference at 1545 CST here today to make a
"major announcement with international business ramifications."
    No other details were immediately available.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13771" NEWID="8250">
<DATE>23-MAR-1987 09:49:14.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0930&#31;reute
r f BC-MYLES-&lt;MYLX>-RESUMES   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>MYLES &lt;MYLX> RESUMES SHIPMENTS TO CUSTOMER</TITLE>
<DATELINE>    MIMAI, March 23 - </DATELINE><BODY>Mylex Corp said it has received scheduled
orders to resume shipments under an existing contract with one
of its major customers that it did not name.
    In May it said it did not have product releases from that
customer.
    Mylex also said it has introduced an International Business
Machines Corp &lt;IBM> personal computer compatible system board
using Intel Corp's &lt;INTC> 80386 microprocessor called the Mylex
386-A motherboard.  It said standard configuration includes one
or four megabytes of onboard 32-bit random access memory and 64
kilobytes of cache memory.
    Mylex said it will market the product directly and through
distributors to original equipment manufacturers, value-added
resellers and system integrators, with shipments to start in
mid-April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13772" NEWID="8251">
<DATE>23-MAR-1987 09:49:24.33</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;f0932&#31;reute
r f BC-&lt;ACCUGRAPH-CORP>-FILE   03-23 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ACCUGRAPH CORP> FILES TO REGISTER SHARES</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>Accugraph Corp said it has filed a
registration statement with the Securities and Exchange
Commission relating to 659,800 Class A shares deliverable on
the exercise of outstanding warrants.
    It said following the registration, Accugraph will file
periodic reports with the SEC required to be filed by companies
traded in U.S. markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13773" NEWID="8252">
<DATE>23-MAR-1987 09:49:40.50</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;f0933&#31;reute
d f BC-JAPAN-IN-LAST-DITCH-E   03-23 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN IN LAST DITCH EFFORT TO SAVE CHIP PACT</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Japan has launched a last-ditch effort to
salvage its computer micro-chip pact with the United States -
sending a letter to top American policy makers setting out its
case and instructing its producers to cut output further.
    "We must make our utmost effort to ward off any catastrophe,"
Ministry of International Trade and Industry (MITI) Deputy
Director General Masaji Yamamoto told reporters.
    "If hasty action is taken in the United States, it will
create very serious problems."
    The Reagan Administration's Economic Policy is expected to
meet Thursday to review Japanese compliance with the bilateral
agreement hammered out last year. Under the pact, Tokyo agreed
to stop selling cut-price chips in world markets and to
increase its imports of American semiconductors.
    Washington has accused Japan of reneging on the deal by
selling low priced chips in Asia and by failing to boost
American imports, and has threatened to take retaliatory
action.
    In an effort to save the agreement, MITI is asking Japanese
chip makers to limit production in the hope that will boost
domestic demand and reduce the incentive to export.
    Yamamoto said that Japan will slash output of 256 kilobit
dynamic random access and erasable programmable read only
memory chips by 11 pct in the second quarter. This follows a
cutback of more than 20 pct in the first three months of the
year.
    He said the cutbacks were already drying up the supply of
chips available for export through unregulated distributors in
the so-called grey market.
    "We have almost no grey market," he said. "Supply is
diminishing."
    To help ensure that the cutbacks are implemented, MITI
called in the president of Japan's largest semiconductor maker,
NEC Corp &lt;NIPN.T> last week, he said. It is also issuing
specific instructions on production to the Japanese subsidiary
of &lt;Texas Instruments Inc>.
    Trade and Industry Minister Hajime Tamura spelled out the
steps Japan was taking to salvage the pact and appealed for
U.S. Understanding in a letter to top American policy makers.
    The letter was sent today to U.S. Secretary of State George
Schultz, Treasury Secretary James Baker, Commerce Secretary
Malcolm Baldrige and U.S. Trade Representative Clayton Yeutter.
    The four, who make up the Economic Policy Council, are
expected to consider evidence presented by U.S. Chip maker
Micron Technology Inc &lt;DRAM.O> of cut-price Japanese sales in
Hong Kong.
    Yamamoto admitted that &lt;Oki Electric Industry Co>'s Hong
Kong subsidiary had sold chips at an inappropriate level but
denied that it was dumping chips at rock-bottom prices.
    "If the United States uses this as proof of dumping...We
will present our rebuttal," he said.
    The sales though were inappropriate in the light of MITI's
advice to semiconductor makers to sell chips at well above
production costs to avoid any hint of dumping, he said.
    He also called the case "strange," but he stopped short of
endorsing Japanese newspaper accusations that Oki had been
trapped into making the sales. He did say though that Micron
publicized the invoice documenting the sales on the same day
they were made and that Oki was unable to locate the person who
had bought the chips when it tried to buy them back last week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13774" NEWID="8253">
<DATE>23-MAR-1987 09:50:26.52</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0936&#31;reute
f f BC-******AMERICAN-MOTORS   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN MOTORS CORP GETS QUALIFIED AUDIT ON 1986 FINANCIAL STATEMENTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13775" NEWID="8254">
<DATE>23-MAR-1987 09:52:55.39</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;f0943&#31;reute
d f BC-&lt;st-.-clair-paint-and   03-23 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ST . CLAIR PAINT AND WALLPAPER CORP> YEAR NET</TITLE>
<DATELINE>    Toronto, March 23 -
    </DATELINE><BODY>Shr 66 cts vs 55 cts
    Net 2,422,000 vs 1,906,000
    Revs 59.3 mln vs 47.4 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13776" NEWID="8255">
<DATE>23-MAR-1987 09:54:18.55</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;f0948&#31;reute
d f BC-ALCO-STANDARD-&lt;ASN>-C   03-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>ALCO STANDARD &lt;ASN> COMPLETES ACQUISITION</TITLE>
<DATELINE>    ORLANDO, Fla., March 23 - </DATELINE><BODY>Delta Business Systems Inc said
it has completed a previously-announced merger into Alco
Standard Corp.
    Delta said it expects sales of about 30 mln dlrs for the
year ending in April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13777" NEWID="8256">
<DATE>23-MAR-1987 09:54:42.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>cuba</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M T
&#22;&#22;&#1;f0951&#31;reute
d f BC-SPAIN-GIVES-CUBA-25-M   03-23 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN GIVES CUBA 25 MLN DLR CREDIT LINE</TITLE>
<DATELINE>    HAVANA, March 23 - </DATELINE><BODY>Spain has granted Cuba a 25 mln dlr
credit line for the purchase of Spanish goods and services in
the iron and steel industry, the repair of fishing boats and
development of industrial projects, Prensa Latina said.
    The credit line was agreed by a joint economic/industrial
commission.
    The commission also discussed the possible participation of
spanish companies in the Cuban tourist industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13778" NEWID="8257">
<DATE>23-MAR-1987 09:56:46.03</DATE>
<TOPICS><D>grain</D><D>corn</D><D>barley</D></TOPICS>
<PLACES><D>ethiopia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0955&#31;reute
r f BC-RAINS-PROMISE-BOUNTIF   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINS PROMISE BOUNTIFUL CROPS IN ETHIOPIA</TITLE>
<DATELINE>    ADDIS ABABA, March 23 - </DATELINE><BODY>Rain over wide areas has raised the
prospect of good food crops throughout Ethiopia, which suffered
a disastrous drought and famine two years ago.
    Aweke Aynalem, head of the government's Agriculture
Development Department, told reporters prospects were good for
attaining the target of 250,000 tonnes of grain in the present
growing season, one of two each year in Ethiopia.
    Normal crop production in Ethiopia is about 648,000 tonnes
a year, of which 250,000 tonnes are produced from the "belg"
(small) rains which fall at this time of year.
    The belg rains are used to plant quick-maturing crops like
maize and barley. Any shortfall during this period affects
production in the main rainy season, because farmers eat their
stocks of seed.
    Aweke said peasants in Wello, Tigre and Hararghe -- regions
which suffered severely from drought -- were now able to sow
their crops because of the favourable rains.
    The government had distributed large quantities of seed and
fertiliser, and the rains should ensure a good crop.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13779" NEWID="8258">
<DATE>23-MAR-1987 09:57:30.02</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;f0958&#31;reute
b f BC-/AMERICAN-MOTORS-&lt;AMO   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN MOTORS &lt;AMO> STATEMENT QUALIFIED</TITLE>
<DATELINE>    DETROIT, March 23 - </DATELINE><BODY>American Motors Corp said its auditors
qualified the company's 1986 financial report.
    The report was qualified due to uncertainties surrounding
the previously announced arbitration award against American
Motors' former subsidiary, AM General Corp. The award is being
contested.
    The report was filed today with the Securities and Exchange
Commission along with a copy of Chrysler Corp's &lt;C> proposal to
take over American Motors.
    American Motors said earlier than an arbitration award,
made to Emerson Electric Co &lt;EMR> in February, amounted to 60
mln dlrs plus legal expenses. American Motors has challenged
the award.
    The automaker sold the AM General unit to LTV Corp &lt;QLTV>
in 1983, the same year it was awarded a five-year, 1.2 billion
dlr procurement contract with the military. LTV and AM General
last year sought protection under Chapter 11.
    The arbitration proceeding was called after Emerson
Electric charged AM General violated an agreement covering the
development of certain components in the contract.
    The components were for the military's "High Mobility
Multi-Purpose Wheeled Vehicle" (HMMWV), American Motors said.
    In selling AM General to LTV, American Motors agreed to
indemnify LTV against losses incurred by LTV resulting from the
Emerson Electric claims.
    AMC also said the award has not been confirmed by a court,
and faces additional legal challenges. It said that, because of
the LTV and Am General reorganizations, the final amount of a
confirmed award and the amount of any loss to LTV is uncertain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13780" NEWID="8259">
<DATE>23-MAR-1987 09:57:43.54</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0959&#31;reute
r f BC-ANACOMP-&lt;AAC>-GETS-FU   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ANACOMP &lt;AAC> GETS FUNDS TO BUY DATAGRAPHIX</TITLE>
<DATELINE>    INDIANAPOLIS, IND., March 23 - </DATELINE><BODY>Anacomp Inc said it
finalized the financing of its 128 mln dlrs purchase of
DatagraphiX Inc from General Dynamics Corp &lt;GD>.
    The financing, arranged by Drexel Burnham Lambert, consists
of 90 mln dlrs of bank financing, the private placement of 71
mln dlrs of senior subordinated notes and 25 mln dlrs of
convertible preferred stock, it said.
    DatagraphiX, a manufacturer of microgrpahics equipment has
been merged into Anacomp and will be operated as a separate
division, Anacomp said.  The division is expected to improve
results for Anacomp this year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13781" NEWID="8260">
<DATE>23-MAR-1987 09:57:51.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0961&#31;reute
d f BC-JAMESWAY-&lt;JMY>-OPENS   03-23 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>JAMESWAY &lt;JMY> OPENS NEW JERSEY STORE</TITLE>
<DATELINE>    BERLIN, N.J., March 23 - </DATELINE><BODY>Jamesway Corp said it has opened
its 102nd store, a 60,000 square foot unit in Berlin, N.J.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13782" NEWID="8261">
<DATE>23-MAR-1987 09:59:45.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0969&#31;reute
r f BC-KING-INSTRUMENT-RECEI   03-23 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>KING INSTRUMENT RECEIVES SETTLEMENT FROM SUIT</TITLE>
<DATELINE>    WESTBORO, Mass., March 23 - </DATELINE><BODY>&lt;King Instrument Corp> said it
received 8.5 mln dlrs from &lt;Otari Electric Co> of Tokyo and its
California subsidiaries as a settlement for a patent
infringement suit.
    King said the suit, filed in 1980, covered a tape loading
system for cassettes. King said as part of the settlement,
Otari must pay a royalty to King on future sales of magnetic
tape winding equipment in the U.S.
    In a separate agreement, King said Otari has acquire from
it a non-exclusive license to King's basic patent in the U.S.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13783" NEWID="8262">
<DATE>23-MAR-1987 10:01:55.83</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;f0977&#31;reute
b f BC-SUPERMARKETS-GENERAL   03-23 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>SUPERMARKETS GENERAL CORP &lt;SGL> 4TH QTR JAN 31</TITLE>
<DATELINE>    WOODBRIDGE, N.J., March 23 -
    </DATELINE><BODY>Oper shr 50 cts vs 52 cts
    Oper net 19.2 mln vs 18.8 mln
    Sales 1.43 billion vs 1.30 billion
    Avg shrs 38.6 mln vs 36.0 mln
    Year
    Oper shr 1.65 dlrs vs 1.73 dlrs
    Oper net 62.7 mln vs 61.8 mln
    Sales 5.51 billion vs 4.96 billion
    Avg shrs 38.1 mln vs 35.8 mln
    NOTES: Sales are from continuing operations
    Operating net excludes results from discontinued operations
of nil vs profit 2,815,000 dlrs, or eight cts a share, in
quarter and loss 308,000 dlrs, or one cent a share, vs profit
1,880,000 dlrs, or five cts a share, in year
    Latest year operating net also excludes loss of 1,536,000
dlrs, or four cts a share, on disposal of discontinued
department store segment
    Share data adjusted to reflect two-for-one stock split paid
to holders of record August 1, 1986
    Operating net includes pre-tax LIFO credit 700,000 dlrs vs
credit 2.0 mln dlrs in quarter and charge 2.8 mln dlrs vs
charge 4.9 mln dlrs in year
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13784" NEWID="8263">
<DATE>23-MAR-1987 10:03:44.66</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0990&#31;reute
f f BC-Belgian-three-month-t   03-23 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Belgian three-month treasury certificate rate cut 0.10 points to 7.40 pct - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13785" NEWID="8264">
<DATE>23-MAR-1987 10:04:29.64</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;f0993&#31;reute
r f BC-ENERGY-FACTORS-&lt;EFAC>   03-23 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGY FACTORS &lt;EFAC> TO BUY ALLIED &lt;ALD> UNITS</TITLE>
<DATELINE>    SAN DIEGO, March 23 - </DATELINE><BODY>Energy Factors Inc said it has signed
an agreement to acquire GWF Power Systems Co and Combustion
Power Co Inc from Allied-Signal Inc for undisclosed terms.
    The two Allied units operate and are developing
cogeneration projects and small petroleum-coke fueled power
plants.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13786" NEWID="8265">
<DATE>23-MAR-1987 10:06:04.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0998&#31;reute
r f BC-WILLIAMS-COS-&lt;WMB>-UN   03-23 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>WILLIAMS COS &lt;WMB> UNIT EXPANDING FIBER OPTICS</TITLE>
<DATELINE>    TULSA, Okla., March 23 - </DATELINE><BODY>Williams Cos said its
telecommunications company is spending 22 mln dlrs to expand
its fiber optic telecommunications system.
    Its subsidiary, known as WilTel, said the expansion stems
from customer demand which has exceeded its expectations.
    It said the expansion will increase from 25,000 to 50,000
voice circuits on the Chicago to Kansas City segment of the
WilTel system, and from 16,0000 to 40,000 on the Kansas City to
Los Angeles segment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13787" NEWID="8266">
<DATE>23-MAR-1987 10:06:21.34</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;f0999&#31;reute
d f BC-CORE-MARK-CHAIRMAN-RE   03-23 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>CORE-MARK CHAIRMAN RESIGNS</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 23 - </DATELINE><BODY>&lt;Core-Mark
International Inc> said chairman David E. Gillespie resigned,
effective March 20, due to health problems.
    No successor was named.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13788" NEWID="8267">
<DATE>23-MAR-1987 10:06:50.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1001&#31;reute
d f BC-SINGER-&lt;SMF>-GETS-EIG   03-23 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGER &lt;SMF> GETS EIGHT MLN DLR ARMY CONTRACT</TITLE>
<DATELINE>    STAMFORD, Conn., March 23 - </DATELINE><BODY>Singer Co said its Dalmo Victor
Division has received an eight mln dlr contract for full-scale
engineering development of a special version of the APR-39A
radar threat warning system.
    It said the contract calls for delivery of 20 development
units and includes an option for an initial production quantity
of 300 units.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13789" NEWID="8268">
<DATE>23-MAR-1987 10:07:33.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1006&#31;reute
d f BC-WALKER-TELECOMMUNICTI   03-23 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>WALKER TELECOMMUNICTIONS &lt;WTEL> FIBER TO START</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., March 23 - </DATELINE><BODY>Walker Telecommunications Corp
said the second phase of a 417-mile fiber optics network in
Michigan will begin operating March 30.
    The first phase was completed in February and connects
Grand Rapids with Detroit via Lansing.
    The 31 mln dlr network will link 14 Michigan cities, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13790" NEWID="8269">
<DATE>23-MAR-1987 10:07:38.44</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;f1007&#31;reute
s f BC-RYLAND-GROUP-INC-&lt;RYL   03-23 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>RYLAND GROUP INC &lt;RYL> SETS QUARTERLY</TITLE>
<DATELINE>    COLUMBIA, Md., March 23 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13791" NEWID="8270">
<DATE>23-MAR-1987 10:07:41.86</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;f1008&#31;reute
r f BC-H.B.-FULLER-CO-&lt;FULL>   03-23 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>H.B. FULLER CO &lt;FULL> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    ST. PAUL, MINN., March 23 -
    </DATELINE><BODY>Shr 38 cts vs 30 cts
    Net 3,649,000 vs 2,789,000
    Sales 137.4 mln vs 119.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13792" NEWID="8271">
<DATE>23-MAR-1987 10:16:17.72</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;f1034&#31;reute
u f BC-IADB-PLANS-TO-MATCH-1   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>IADB PLANS TO MATCH 1986 LENDING LEVEL</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Inter-American Development Bank
said it intended this year to match the over three billion dlrs
it lent to Latin America in 1986, despite growing pressures on
its capital.
    In its annual report and in a briefing for reporters, the
Bank made it clear, however, that the Latin countries needed
vast amounts of new investment if they are to strengthen their
ailing economies in the period ahead. The report said Latin
America continued to emerge slowly from the deep recession that
began in the early 1980s, with Gross Domestic Product edging up
to nearly four pct from 3.5 pct in 1985.
    The report said the region's improved economic growth last
year was based on a rise in internal demand and fuller
utilization previously underused production capacity.
    "This situation will be difficult to duplicate in 1987 and
beyond because no significant new investments are being made,"
the report said.
    The Bank's lending last year consisted of 63 loans totaling
3.04 billion dlrs, bringing the agency's cumulative lending to
35.44 billion dlrs.
    Of last year's loans, 2.26 billion dlrs was actually
disbursed, bringing total disbursements to 24.03 billion dlrs.
    To assist in loan activities, the Bank said it borrowed
1.91 billion dlrs in the capital markets in 1986, bringing its
total outstanding borrowings to 12.11 billion dlrs.
    In a briefing for reporters, Bank President Antonio
Ortiz-Mena said that this year lending by the bank "will be at a
similar level to last year."
    He noted that bank lending in 1986 was directed
particularly to projects in energy, agriculture, and
environmental and public health, education and urban
development. The annual report was released as the Bank's
annual meeting is being held in Miami.
    Ortiz-Mena told reporters that the bank's member countries
will discuss a plan by the United States to reduce the loan
veto power from the current majority to 35 pct.
    Such a plan would allow the United States to block any loan
it did not like with the assistance of only one other country.
    The proposal, which is tied to any U.S. backing for a new
financing for the bank, is sure to run into rough going as the
Latin countries view it as a move by the Reagan administration
to control the agency's critical loans.
    The U.S. position is that it is not seeking veto power
although it believes the bank's largest contributors should
have greater influence within the institution.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13793" NEWID="8272">
<DATE>23-MAR-1987 10:20:11.83</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;f1051&#31;reute
r f BC-U.S.-CORPORATE-FINANC   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CORPORATE FINANCE - NOVEL GMAC FINANCING</TITLE>
<AUTHOR>    By John Picinich, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Because its novel financing deal sold
quickly last week, General Motors Corp's &lt;GM> General Motors
Acceptance Corp unit plans to do more multi-tiered financings,
said Michael Mangan of GMAC.
    "We are certainly happy with the transaction. We plan to do
more," said Mangan, director of corporate financing.
    Offered on Wednesday, the 100 mln dlr issue had three price
levels to attract a wide range of retail investors and small
regional institutions, said officers of P.W. Korth and Co Inc
and PaineWebber Inc, which shared bookrunning duties.
    "We will continue to look at multi-tiered financings,"
Mangan said.
    "GMAC plans to talk to Korth and PaineWebber and get their
thoughts on the deal. We want to see how it went and where the
securities were placed," the GMAC officer added.
    Mangan and the co-lead managers said the three different
pricings enabled the finance arm of General Motors to borrow at
attractive rates. "GMAC saved some basis points with this
technique," said an officer on Korth's syndicate desk.
    "Our all-in-cost was comparable. If the deal had not made
sense, obviously we would not have done it," Mangan noted.
    The GMAC seven-year notes were given a coupon of 7.45 pct.
    For investors buying less than 100,000 dlrs of the notes,
the offering was priced at par to yield 45 basis points over
comparable Treasury securities.
    Those buying 100,000 to 250,000 dlrs pay 99.60 for a yield
of 7.52 pct, or 53 basis points over Treasuries. For purchases
of more than 250,000 dlrs, the notes carried a price of 99.20
to yield 7.599 pct, or 61 basis points over Treasuries.
    In contrast, Ford Motor Co's &lt;F> Ford Motor Credit Co unit
last month sold 300 mln dlrs of same-maturity notes priced to
yield 7.62 pct, or 62.5 basis points over Treasuries.
    "Retail investors generally do not see new issue product,"
said an officer on PaineWebber's corporate syndicate desk.
"They have to buy the securities in the secondary market."
    Bond traders said many corporates rose well above par in
the secondary market this year. They attributed this to a huge
number of bond redemptions by the issuing companies.
    "Institutions and mutual funds are seeing some of their
holdings called away. They're scrambling to replace them," said
one trader. As a result, underwriters said retail investors
would gladly sacrifice some of the yield spread over Treasuries
if they could buy debt issues at or below par.
    "The GMAC financing seemed tailor-made for those retail
investors," commented one underwriter away from the syndicate.
    GMAC's Mangan said his firm also wanted to sell securities
that were aimed at the retail sector.
    "Access to retail investors was the driving force behind
the multi-tiered financing. This is a new market for us, so to
speak," Mangan said.
    "There is a lot of GMAC paper out there," the executive
added, referring to the unit's past offerings. "One of our
basic strategies is to target securities to specific investors
and hopefully attain a broader distribution."
    Officers of Korth and PaineWebber said the GMAC notes were
selling quickly last week, although the issue had not sold out
by Friday afternoon.
    "In selling to retail investors or smaller institutions,
you have to make a lot more telephone calls," an investment
banker pointed out.
    Underwriters noted that Korth and PaineWebber, along with
co-managers A.G. Edwards and Thomson McKinnon, have strong
retail bases. "They can carve out a niche here," one said.
    "We plan to underwrite more of these deals," said a Korth
official. An officer with PaineWebber echoed that sentiment.
    Multi-tiered financings are a relatively new wrinkle on
Wall Street. An officer with Korth said he belives his firm
underwrote the first such issue eight or nine months ago for
Citicorp &lt;CCI>.
    GMAC's Mangan said his company issued through Korth in
October 1986 a 50 mln dlr issue that carried two different
price levels.
    "But the price gap between the first and second tier was
large," Mangan said. In our conversations with the
underwriters, we thought three different tiers would make more
sense because the prices would not be far apart."
    Meanwhile, underwriting syndicates are scheduled to bid
competitively tomorrow for 250 mln dlrs of first and refunding
mortgage bonds due 2017 of Philadelphia Electric Co &lt;PE>.
Non-refundable for five years, the debt is rated Baa-3 by
Moody's and BBB-minus by Standard and Poor's.
    Southern Railway Co, a unit of Norfolk Southern Corp &lt;NSC>,
will hold accept bids on Wednesday for 20 mln dlrs of serial
equipment trust certificates. The debt is rated a top-flight
AAA by both Moody's and S and P.
    IDD Information Services said the 30-day corporate visible
supply rose to 3.98 billion dlrs from 3.28 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13794" NEWID="8273">
<DATE>23-MAR-1987 10:21:50.76</DATE>
<TOPICS><D>trade</D><D>cotton</D><D>grain</D><D>corn</D><D>wheat</D><D>oilseed</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1055&#31;reute
u f BC-/MARKET-LOAN-COULD-BE   03-23 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>MARKET LOAN COULD BE PINNED TO U.S. TRADE BILL</TITLE>
<DATELINE>    BOCA RATON, Fla., March 23 - </DATELINE><BODY>Sen. David Pryor, D-Ark., said
he was considering amending the Senate Finance Committee's
trade bill with a provision to require a marketing loan for
soybeans, corn and wheat.
    Pryor told the Futures Industry Association that there was
great reluctance among members of the Senate Agriculture
Committee to reopen the 1985 farm bill, and that a marketing
loan might have a better chance in the Finance panel.
    The Arkansas senator said the marketing loan -- which in
effect allows producers to pay back their crop loans at the
world price -- had led to a 300 pct increase in U.S. cotton
exports in 14 months and a 72 pct increase in rice exports.
    Pryor serves on both the Senate Finance and Agriculture
Committees.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13795" NEWID="8274">
<DATE>23-MAR-1987 10:22:53.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1061&#31;reute
u f BC-WESTLB-RAISES-AUSTRAL   03-23 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTLB RAISES AUSTRALIAN DLR BOND TO 75 MLN</TITLE>
<DATELINE>    DUESSELDORF, March 23 - </DATELINE><BODY>Westdeutsche Landesbank
Girozentrale (WestLB said it is raising the amount of a 14-3/8
pct five-year bullet Australian dlr eurobond, priced at
101-1/2, to 75 mln dlrs from 50 mln.
    The bond, for WestLB's WestLB Finance NV subsidiary, also
will have an additional co-manager to the 20 already accepted
into the deal, WestLB said. WestLB is lead manager, with
Hambros Bank Ltd as co-lead.
    Other terms of the bond, launched on March 19, remain the
same, the bank said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13796" NEWID="8275">
<DATE>23-MAR-1987 10:26:23.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1072&#31;reute
u f BC-COOPER-DEVELOPMENT-CO   03-23 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>COOPER DEVELOPMENT CO &lt;BUGS> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    PALO ALTO, Calif., March 23 -
    </DATELINE><BODY>Shr profit seven cts vs loss 16 cts
    Net profit 2,144,000 vs loss 4,110,000
    Sales 121.3 mln vs 20.3 mln
    Avg shrs 29.4 mln vs 25.3 mln
    NOTE: Current year net includes pretax gain on sale of
product line of 11.4 mln dlrs and charge 4,711,000 dlrs posttax
on expensing of a portion of unamorized debt issuance costs of
unit.
    Current year results include Technicon Corp, acquired in
August 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13797" NEWID="8276">
<DATE>23-MAR-1987 10:26:33.25</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;f1073&#31;reute
u f BC-CITIZENS-GROWTH-&lt;CITG   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>CITIZENS GROWTH &lt;CITGS> OMITS QUARTERLY DIVIDEND</TITLE>
<DATELINE>    JACKSON, Miss., March 20 - </DATELINE><BODY>Citizens Growth Properties said
it ommitted its regular quartelry dividend as a result of
decreased earnings, principally attributable to the default by
a borrower of the trust's laargest mortgage loan.
    The trust last paid 12 cts on January 28.
    The trust said it also reaffirmed a limited share
repurchase program subject to available cash flow in light of
the defaulted mortgage.               
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13798" NEWID="8277">
<DATE>23-MAR-1987 10:30:36.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1080&#31;reute
r f BC-IADB-BANK-SAYS-IT-WIL   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>IADB BANK SAYS IT WILL MATCH 1986 LENDING</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Inter-American Development Bank
said it intended this year to match the over three billion
dollars it lent to Latin America in 1986 despite growing
pressures on its capital.
    In its annual report and in a briefing for reporters, the
Bank made it clear, however, that the Latin countries needed
vast amounts of new investment if they are to strengthen their
ailing economies in the period ahead.
    The report said that Latin America continued to emerge
slowly from the deep recession that began in the early 1980s,
with Gross Domestic Product (GDP) edging up to nearly four pct
from 3.5 pct in 1985.
    The report said the region's improved economic growth last
year was based on a rise in internal demand and fuller
utilization of previously underused production capacity.
    "This situation will be difficult to duplicate in 1987 and
beyond because no significant new investments are being made,"
the report said.
    The Bank's lending last year consisted of 63 loans totaling
3.04 billion dlrs, bringing the agency's cumulative lending to
35.44 billion dlrs.
    Of last year's loans, 2.26 billion dlrs was actually
disbursed, bringing total disbursements to 24.03 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13799" NEWID="8278">
<DATE>23-MAR-1987 10:34:09.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1095&#31;reute
u f BC-WAITE-KIDNAPPED-AS-SP   03-23 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>WAITE KIDNAPPED AS SPY - TEHRAN RADIO</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Tehran radio said British church envoy
Terry Waite, missing in Beirut since January 20, had been
kidnapped as a spy by a Lebanese group.
    "Terry Waite was taken hostage by an armed Lebanese group,
calling itself the Revolutionary Justice Organisation. He has
been accused of espionage activities," said the radio, monitored
by the British Broadcasting Corporation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13800" NEWID="8279">
<DATE>23-MAR-1987 10:35:28.69</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1103&#31;reute
f f BC-******PATRICK-PETROLU   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PATRICK PETROLUEM HAS DEFINITIVE ACCORD TO BUY BAYOU RESOURCES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13801" NEWID="8280">
<DATE>23-MAR-1987 10:37:03.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1110&#31;reute
u f BC-REEBOK-INTERNATIONAL   03-23 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>REEBOK INTERNATIONAL &lt;RBOK> GETS NEW PRESIDENT</TITLE>
<DATELINE>    CANTON, Mass., March 23 - </DATELINE><BODY>Reebok International Ltd said it
named C..Joseph LaBonte, 47, president and chief operating
officer of the company.
    LaBonte, former presidnet and chief operating officer of
20th Century Fox Film Corp, and more recently was founder and
chief executive officer of Vantage Group Inc, an investment and
financial advisement company.
    Reebok said the company formerly did not have a corporate
president, but rather division presidents, nor did it have a
chief operating officer.
    Reebok said LaBonte will oversee the division presidents.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13802" NEWID="8281">
<DATE>23-MAR-1987 10:40:10.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1134&#31;reute
r f BC-AIRSHIP-INDUSTRIES-&lt;A   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>AIRSHIP INDUSTRIES &lt;AIRSY> ADR TO TRADE IN U.S.</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Airship Industries Ltd of the U.K.
said its American Deporsitary Receipts, or ADRs, will begin to
trade on NASDAQ March 25.
    The company said it was the largest maker of airships in
the world and currently has five airships in the U.S.
    It also said it entered into a joint venture with
Westinghouse Electric Corp &lt;WX>, a stockholder, to pursue
military contracts, including one with the U.S. Navy to build a
prototype airship to protect naval fleets from missle attacks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13803" NEWID="8282">
<DATE>23-MAR-1987 10:40:23.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1136&#31;reute
d f BC-FLORIDA-FEDERAL-&lt;FLFE   03-23 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>FLORIDA FEDERAL &lt;FLFE> SEES NO NEED FOR ACTION</TITLE>
<DATELINE>    ST. PETERSBURG, Fla., March 23 - </DATELINE><BODY>Florida Federal Savings
and Loan Association a special review committee has determined
has determined there is no justification for legal action
against the persons responsible for the association's loan an
investment losses in fiscal 1986, ended June 30.
    In August 1986, a shareholder demand Florida Federal's
board take such legal action. In response, the board formed the
special review committee comprised of four outside directors.
    The company said the committee also found legal action
would not be in the best interest of First Federal and its
stockholders, adding the group's findings were ratified by the
remaining disinterested directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13804" NEWID="8283">
<DATE>23-MAR-1987 10:40:47.86</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;f1139&#31;reute
u f BC-COMMERCE-DEPARTMENT-R   03-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMERCE DEPARTMENT REVISES U.S. FACTORY ORDERS</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Commerce Department published
revisions to monthly data on factory orders indicating some
substantial changes to published figures for recent months.
    The revisions take account of several factors including
adjustments to unfilled orders levels, recalculation of new
orders estimates and updating of seasonal adjustment factors,
the department said.
    As a result, December factory orders reported as rising 1.6
pct rose on the revised basis by 3.2 pct, while November orders
reported as 3.6 pct were up only 0.8 pct on the revised basis,
the department said.
    Commerce has already reported January factory orders fell
4.0 pct. The report on February orders is due next week and
that figure will be revised then.
    The revisions, which cover the years 1982-1986, also affect
the key category of durable goods orders. The department said
durables orders reported as 1.5 pct higher in December were up
5.3 pct on the revised basis and November orders reported 5.1
pct higher were up a revised 3.0 pct.
    The department reported January durable goods orders fell
7.5 pct and is scheduled to release February orders on Tuesday
morning.
    The January durable goods orders will be revised and
February orders reported on a basis consistent with the
revisions, Commerce said.
    For all of 1986, factory orders were originally reported as
being unchanged from 1985 levels, but the department said after
revisions orders fell 0.6 pct last year.
    Among changes in the orders survey, the department said it
was changing inventory values to reflect current costs rather
than book value of unsold goods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13805" NEWID="8284">
<DATE>23-MAR-1987 10:40:53.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1140&#31;reute
d f BC-THERMO-INSTRUMENT-&lt;TH   03-23 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>THERMO INSTRUMENT &lt;THIS> GETS SOVIET ORDER</TITLE>
<DATELINE>    WALTHAM, Mass., March 23 - </DATELINE><BODY>Thermo Instrument Systems Inc
said it has received a 550,000 dlr order from the Soviet Union
for plasma spectrometers to be used by the Soviet Bureau of
Standards to help Soviet industries develop quality control
procedures in mining, agriculture and manufacturing.
    It said the instruments will detect the amount of metals in
various products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13806" NEWID="8285">
<DATE>23-MAR-1987 10:41:02.36</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;f1141&#31;reute
d f BC-general-systems-resea   03-23 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL SYSTEMS RESEARCH IN PRIVATE PLACEMENT</TITLE>
<DATELINE>    Edmonton, Alberta, March 23 - </DATELINE><BODY>&lt;General Systems Research
Inc> said it concluded a 15 mln dlr private placement with the
government of Alberta.
    The provincial government purchased 15 mln dlrs of the
company's class A preferred shares.
    The government of Alberta also converted a 2.5 mln dlr
debenture into common shares and converted about 2.5 mln dlrs
of shareholders' loans into common shares, the company said.
Conversion price for both transactions was 1.75 dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13807" NEWID="8286">
<DATE>23-MAR-1987 10:41:11.70</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;f1143&#31;reute
h f BC-DYNAMIC-HOMES-INC-&lt;DY   03-23 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>DYNAMIC HOMES INC &lt;DYHM> 4TH QTR NET</TITLE>
<DATELINE>    DETROIT LAKES, MINN., March 23 -
    </DATELINE><BODY>Shr profit 0.2 cts vs loss 2.2 cts
    Net profit 2,900 vs loss 43,500
    Sales 1,660,000 vs 950,000
    Year
    Shr loss 30 cts vs loss 37 cts
    Net loss 578,900 vs 713,300
    Sales 5,112,100 vs 3,659,600
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13808" NEWID="8287">
<DATE>23-MAR-1987 10:42:04.65</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;f1149&#31;reute
r f BC-SAFEGUARD-SCIENTIFIC   03-23 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>SAFEGUARD SCIENTIFIC &lt;SFE> UNIT BUYS SUBSIDIARY</TITLE>
<DATELINE>    KING OF PRUSSIA, Pa., March 23 - </DATELINE><BODY>Safeguard Scientific Inc
said its subsidiary, Coherent Communications Systems Corp,
purchased a telecommunications equipment business for an
undisclosed amount of cash, notes and Coherent common stock.
    Safeguard said it bought the business unit from Comsat
TeleSystems Inc, a subsidiary of Communications Satellite Corp
&lt;CQ>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13809" NEWID="8288">
<DATE>23-MAR-1987 10:45:10.10</DATE>
<TOPICS><D>crude</D><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1162&#31;reute
b f BC-PATRICK-PETROLEUM-&lt;PP   03-23 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>PATRICK PETROLEUM &lt;PPC> TO BUY BAYOU</TITLE>
<DATELINE>    JACKSON, Mich., March 23 - </DATELINE><BODY>Patrick Petroleum Co said it
signed a definitive agreement to buy Bayou Resources Inc.
    As previously announced, the transaction is valued at about
8.8 mln dlrs, including 2.8 mln dlrs in debt.
    Under the agreement, Patrick will pay six dlrs per share
for each Bayou share, with additional value being given for
Bayou's preferred and options. Bayou has 827,000 shares out.
    Depending upon the results of the re-evaluation of a
significant Bayou well as of Jan. 1, 1988, Bayou stockholders
may receive up to an additional two mln dlrs in stock and cash,
which has not been included in the 8.8 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13810" NEWID="8289">
<DATE>23-MAR-1987 10:48:47.68</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;f1170&#31;reute
u f BC-WESTWORLD-COMMUNITY-H   03-23 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTWORLD COMMUNITY HEALTH &lt;WCHI> 4TH QTR LOSS</TITLE>
<DATELINE>    LAKE FOREST, Calif., March 23 -
    </DATELINE><BODY>Shr loss 15.23 dlrs vs profit 12 cts
    Net loss 124,634,000 vs profit 882,000
    Revs 38.4 mln vs 41.0 mln
    Year
    Shr loss 15.46 dlrs vs profit 48 cts
    Net loss 126,434,000 vs profit 3,555,000
    Revs 187.0 mln vs 133.2 mln
    Avg shrs 8,177,000 vs 7,450,000
    Note: Current year results include charges related to
closing or divestitures of facilities and other assets.
    Full name Westworld Community Healthcare Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13811" NEWID="8290">
<DATE>23-MAR-1987 10:49:54.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1178&#31;reute
r f BC-ROSTENKOWSKI-URGES-HO   03-23 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSTENKOWSKI URGES HONESTY IN FUTURES INDUSTRY</TITLE>
<DATELINE>    BOCA RATON, Fla, March 23 - </DATELINE><BODY>U.S. House Ways and Means
Committee Chairman Dan Rostenkowski (D-Ill.) said Congress
would more readily respond to the needs of the U.S. futures
industry to be internationally competitive if the industry
showed a willingness to do its business honestly.
    Rostenkowski told the Futures Industry Association that if
other countries were relaxing futures regulations "because ours
are being tightened, so that they can take a competitive
advantage, I think we (Congress) have a responsibility to keep
you out in front."
    But he warned the futures leaders that they "have a more
important reponsibility to do your business honestly. You can't
ignore the trader who is improperly using his opportunity."
    There have been reports recently of futures traders placing
their own orders ahead of clients'. The Chicago Mercantile
Exchange is considering curbing the right of traders in the
Standard and Poor's 500 pit to trade for their own and clients'
accounts.
    "If we can see that there is a responsible response from
people in your industry, we will be the first there to help." he
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13812" NEWID="8291">
<DATE>23-MAR-1987 10:51:21.87</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;f1183&#31;reute
d f BC-KINGS-ROAD-ENTERTAINM   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>KINGS ROAD ENTERTAINMENT INC &lt;KREN> 3RD QTR NET</TITLE>
<DATELINE>    LOS ANGELES, March 23 -
    </DATELINE><BODY>Shr loss seven cts vs loss 64 cts
    Net loss 367,000 vs 3,009,000
    Revs 2,516,000 vs 8,787,000
    Avg shrs 4,941,000 vs 4,714,000
    Nine mths
    Shr loss 73 cts vs loss 1.17 dlrs
    Net loss 3,545,000 vs loss 4,573,000
    Revs 6,788,000 vs 13.3 mln
    Avg shrs 4,856,000 vs 3,908,000
    NOTE: Prior year net includes tax credits of 63,000 dlrs in
quarter and 1,395,000 dlrs in nine mths.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13813" NEWID="8292">
<DATE>23-MAR-1987 10:51:36.10</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;f1185&#31;reute
d f BC-PAYCHEX-INC-&lt;PAYX>-3R   03-23 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>PAYCHEX INC &lt;PAYX> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 23 -
    </DATELINE><BODY>Shr 13 cts vs 10 cts
    Net 1,109,000 vs 875,000
    Revs 16.6 mln vs 13.2 mln
    Nine mths
    Shr 44 cts vs 33 cts
    Net 3,770,000 vs 2,851,000
    Revs 46.9 mln vs 36.9 mln
    NOTE: Share adjusted for three-for-two stock split in June
1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13814" NEWID="8293">
<DATE>23-MAR-1987 10:51:43.40</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1186&#31;reute
d f BC-IC-INDS-&lt;ICX>-TO-SELL   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>IC INDS &lt;ICX> TO SELL CERTAIN ASSETS TO MLX </TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>IC Industries Inc said its Abex Corp
subsidiary agreed to sell its sintered friction materials
business in Italy to Troy, Michigan-based MLX Corp, for
undisclosed terms.  Completion of the proposed transaction is
subject to approval by the Italian government, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13815" NEWID="8294">
<DATE>23-MAR-1987 10:53:19.02</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;f1192&#31;reute
r f BC-RELIABLE-LIFE-INSURAN   03-23 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>RELIABLE LIFE INSURANCE CO &lt;RLIFA> YEAR NET</TITLE>
<DATELINE>    ST. LOUIS, March 23 -
    </DATELINE><BODY>Shr 4.87 dlrs vs 2.21 dlrs
    Net 14.6 mln vs 6,639,540
    NOTE: 1986 net includes gain 2,578,887 dlrs from chjange in
accounting for pension plans and investment gaions of over
three mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13816" NEWID="8295">
<DATE>23-MAR-1987 10:55:55.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1200&#31;reute
d f BC-PRIME-COMPUTER-&lt;PRM>   03-23 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>PRIME COMPUTER &lt;PRM> INTRODUCES WORKSTATION</TITLE>
<DATELINE>    PHILADELPHIA, March 23 - </DATELINE><BODY>Prime Computer Inc said it
introduced an interactive three dimensional graphics
workstation.
    Prime said it is its first offering in a new
engineering/scientific product line and employs Prime's
implementation of ATT's &lt;T> UNIX System V.3 operating system, a
program that controls the computer.
    Prime said the new product delivers up to twice the
performance of the IRIS 3120 series, considered the industry's
leading 3-D graphics workstation, and is driven by five times
the performances of a VAX 11/780 system.
    Shipment is scheduled for June, 1987, and the product's
standard configuration is priced at 74,900 dls with a monthly
maintenance fee of 492 dlrs, Prime said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13817" NEWID="8296">
<DATE>23-MAR-1987 10:56:20.18</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;f1202&#31;reute
d f BC-RAVEN-INDUSTRIES-INC   03-23 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>RAVEN INDUSTRIES INC &lt;RAV> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    SIOUX FALLS, S.D., March 23 -
    </DATELINE><BODY>Shr profit six cts vs loss nine cts
    Net profit 101,000 vs loss 142,000
    Sales 12.6 mln vs 8,736,000
    Year
    Shr profit 1.34 dlrs vs profit 1.02 dlrs
    Net profit 2,122,000 vs profit 1,611,000
    Sales 52.3 mln vs 41.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13818" NEWID="8297">
<DATE>23-MAR-1987 10:56:25.29</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;f1203&#31;reute
d f BC-HEMODYNAMICS-INC-&lt;HMD   03-23 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>HEMODYNAMICS INC &lt;HMDY> YEAR LOSS</TITLE>
<DATELINE>    BOCA RATON, Fla., March 23 -
    </DATELINE><BODY>Shr loss 24 cts vs loss 41 cts
    Net loss 148,070 vs loss 251,225
    Sales 1,298,257 vs 319,588
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13819" NEWID="8298">
<DATE>23-MAR-1987 10:56:34.86</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;f1204&#31;reute
d f BC-DELOITTE-HASKINS-SELL   03-23 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>DELOITTE HASKINS SELLS GETS STAKE IN COMPANY</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>&lt;Deloitte Haskins and Sells>, an
accounting and consulting firm, said it bought a stake in
&lt;Holland Systems Corp>, a software and services company.
    The company also said it set up a venture with Holland
Systems to develop and market an integrated line of information
management products and services.
    It said products from the venture are expected to be
introduced within the next year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13820" NEWID="8299">
<DATE>23-MAR-1987 10:58:29.98</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;f1208&#31;reute
b f BC-/-FED-EXPECTED-TO-SET   03-23 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>FED EXPECTED TO SET CUSTOMER REPURCHASES</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>The Federal Reserve is expected to
intervene in the government securities market to add temporary
reserves indirectly via 1.5 to 2.5 billion dlrs of customer
repurchase agreements, economists said.
    They said that while the Fed has only a moderate add need
over the next few days, it will probably intervene in an
attempt to counteract an elevated federal funds rate.
    Fed funds, which averaged 6.09 pct on Friday, opened at
6-3/16 pct and remained at that level in early trading.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13821" NEWID="8300">
<DATE>23-MAR-1987 10:58:47.30</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;f1210&#31;reute
d f BC-MOTO-PHOTO-INC-&lt;MOTO>   03-23 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>MOTO PHOTO INC &lt;MOTO> 4TH QTR NET</TITLE>
<DATELINE>    DAYTON, Ohio, March 23 -
    </DATELINE><BODY>Oper shr profit one ct vs loss six cts
    Oper net profit 148,628 vs loss 249,192
    Revs 3,772,639 vs 1,101,633
    Avg shrs 5,235,233 vs 4,371,795
    Year
    Oper shr loss 10 cts vs loss 19 cts
    Oper net profit 5,760 vs loss 788,042
    Revs 9,899,038 vs 3,819,678
    Avg shrs 4,837,361 vs 4,163,006
    NOTE: Share after poreferred dividends.
    Current year net both periods excludes 15,000 dlr tax loss
carryforward.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13822" NEWID="8301">
<DATE>23-MAR-1987 10:58:58.81</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;f1211&#31;reute
u f BC-CANCAPITAL-SAYS-IT-SO   03-23 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CANCAPITAL SAYS IT SOLD POCO SHARES</TITLE>
<DATELINE>    Calgary, Alberta, March 23 - </DATELINE><BODY>CanCapital Corp said it sold
four mln common shares and one mln common share purchase
warrants of &lt;Poco Petroleums Ltd> to Merrill Lynch Canada Inc
and First Marathon Securities Ltd for resale to public
investors.
    The common shares will be resold at 15.875 dlrs per share
and the warrants will be resold at 7.25 dlrs per warrant.
    Each warrant may be converted into one common shares of
Poco at 9.50 dlrs per share through January 15, 1989. Gross
proceeds of 70.8 mln dlrs will be added to the working capital
CanCapital Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13823" NEWID="8302">
<DATE>23-MAR-1987 11:01:23.79</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1217&#31;reute
f f BC-******U.S.-TREASURY'S   03-23 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. TREASURY'S BAKER SAYS CURRENCIES WITHIN RANGES THAT BETTER REFLECT FUNDAMENTALS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13824" NEWID="8303">
<DATE>23-MAR-1987 11:01:33.59</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1218&#31;reute
f f BC-******BAKER-URGES-BAN   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BAKER URGES BANKS TO MULL NEW IDEAS FOR CUTTING 3RD WORLD DEBT BURDEN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13825" NEWID="8304">
<DATE>23-MAR-1987 11:01:43.15</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1219&#31;reute
f f BC-******BAKER-CONFIDENT   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BAKER CONFIDENT BANKS WILL MAKE BIG NEW LOANS TO MAJOR DEBTORS IN '87
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13826" NEWID="8305">
<DATE>23-MAR-1987 11:02:00.06</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1221&#31;reute
f f BC-******BAKER-SAYS-U.S.   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BAKER SAYS U.S. WILL ADD NINE BILLION DLRS TO IADB IF REFORMS MADE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13827" NEWID="8306">
<DATE>23-MAR-1987 11:02:05.97</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>greece</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1222&#31;reute
u f BC-GREECE-SEEKING-EC-SUG   03-23 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>GREECE SEEKING EC SUGAR NEXT MONTH AT TENDER</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Greece will hold a buying tender on
April 8, for reply by April 10, for 40,000 tonnes of white
sugar from EC member countries, for delivery in four equal
tranches in May, June, July and August, traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13828" NEWID="8307">
<DATE>23-MAR-1987 11:03:10.44</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;f1231&#31;reute
h f BC-NAKASONE-DEFENDS-SALE   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE DEFENDS SALES TAX AS CAMPAIGNING BEGINS</TITLE>
<AUTHOR>    By Yuko Nakamikado, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 23 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone defended
his tax reform plans from fierce opposition, even within his
own party, as campaigning for local elections began.
    "Our plan to reform the nation's tax system is by no means
wrong. Unless we reform the system now, Japan is bound to
decay, perhaps within the next 10 years," Nakasone told
supporters of his ruling Liberal Democratic Party (LDP).
    The April 12 and 26 elections will be the first nationwide
vote since the LDP's general election victory last July.
    Opposition parties have shown rare unity in joining to
fight a proposed five pct sales tax, one of the main planks in
the tax reform package, and are now challenging the
LDP-dominated local governments and assemblies.
    In Tokyo, incumbent Governor Shunichi Suzuki backed by the
LDP and two centrist parties has said he cannot support the
sales tax as it stands.
    A survey by the National Broadcasting Corporation just over
three weeks ago showed 70 pct of those polled said they would
take the tax, which Nakasone proposes to implement next
January, into consideration when they vote.
    Takako Doi, Chairwoman of the Japan Socialist Party, said
in a speech in central Tokyo where shop-owners are opposing the
tax "The elections are a plebiscite against the sales tax. Your
vote is a vote to force (Nakasone) to retract (it)."
    The LDP is putting up its own candidates only in Iwate and
western Shimane but it is supporting independents jointly with
other parties in other prefectures.
    A close aide to Nakasone, who asked not to be identified,
said he sees the sales tax having little impact on the local
elections since almost all candidates, irrespective of party
affiliation, are opposing it in prefectural assembly polls.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13829" NEWID="8308">
<DATE>23-MAR-1987 11:04:14.16</DATE>
<TOPICS><D>zinc</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1237&#31;reute
u f BC-ZINC-PRODUCERS-APPROA   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ZINC PRODUCERS APPROACH EC ON VOLUNTARY CLOSURES</TITLE>
<DATELINE>    BRUSSELS, March 23 - </DATELINE><BODY>A number of individual zinc producing
companies have approached the European Commission to sound out
its reaction to a possible industry plan for a voluntary
reduction of smelting capacity, Commission sources said.
    The companies have been told that the Commission could not
judge whether a plan would be acceptable under European
Community, EC, competition rules until it had full details,
they said.
    In 1983, the industry drew up a plan envisaging the loss of
about 130,000 tonnes of annual capacity, or about 10 pct of the
total.
    However, the industry did not proceed with this plan as
zinc market conditions improved in 1984, the sources noted.
    They said the companies which approached the Commission
recently -- and which they did not name -- appeared to envisage
a loss of productive capacity similar to that proposed in 1983.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13830" NEWID="8309">
<DATE>23-MAR-1987 11:04:25.38</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;V RM
&#22;&#22;&#1;f1238&#31;reute
b f BC-/CURRENCIES-BETTER-RE   03-23 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>CURRENCIES BETTER REFLECT FUNDAMENTALS - BAKER</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Treasury Secertary James Baker said
currencies were now within ranges that better reflected
economic fundamentals.
    In a speech to the annual meeting of the Inter-American
Development Bank, he said, "Excchange have moved into ranges
that better reflect economic fundamentals."
    He noted that in particular that dollar has fallen from its
high point in early 1985 helping to moderate protectionist
pressures in the U.S.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13831" NEWID="8310">
<DATE>23-MAR-1987 11:05:37.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM A
&#22;&#22;&#1;f1247&#31;reute
b f BC-/BAKER-SAYS-U.S.-MAKI   03-23 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SAYS U.S. MAKING PROGRESS REFORMING IADB</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>U.S. Treasury Secretary James Baker said
he was making progress negotiating reform of the Inter-American
Development Bank with other member nations.
    In a speech prepared for delivery to the annual meeting of
the IADB, Baker said, "We are making progress in negotiating
reforms."
    And he added that if succesful, Washington would be ready
to put up an additional nine billion dlrs to the seventh IADB
four-year capital replenishment, an increase of 75 pct.
    It was not immediately clear what the overall size of the
capital replenishment would be if the U.S. went ahead with such
a capital increase.
    But Baker's statement that he had made progress in
negotiating reforms came after a weekend meeting of the bank's
policy making board of governors at which the reform issue was
put off until next June because of deep differences between
Washington and Latin borrowing countries.
    Baker said the U.S. increase would account for 70 pct of
the bank's useable financial resources.
    Currently Washington is only allowed to vote 34.5 pct in
IADB board meetings considering loans to Latin American
countries.
    But the Latin borrowing nations control 54 pct of the vote
and frequently approve loans to which economic reform
conditions are not tied.
    Baker pointed out that Western nations which provide 95 pct
of the bank's financial resources represent just 46 pct of the
vote.
    Baker said the U.S seeks a greater say in bank decisions
for itself and other creditor countries.
    "In view of this imbalance we don't believe it is
unreasonable to ask for a change," Baker said. He said the
changes sought by the U.S. would require loan approval by a
greater majority of shares than a simple majority.
    But he stopped short of reaffirming the original U.S.
position that veto power should exist with a 35 pct vote.
    Enlarging on reforms Washington would like to see, Baker
said he wanted the IADB to play a much greater role in the U.S.
debt strategy for promoting inflation free economic growth,
open markets and a reduced government role in the economies of
debtor nations.
    Under reforms he said the U.S. wants the IADB to adopt a
major program of lending to specific economic sectors in debtor
countries on condition the countries carried out policy reforms
in those areas of their economies.
    Such reforms would include, among other things, more
concern for natural resource management.
    Baker said this lending should help debtors make a
transition to more open economies and freer markets.
    He also said the bank could double its current lending
volume from capital and triple its concessional loans to the
poorest nations.
    The Treasury Secretary also called for the IADB to improve
its analysis of the policies of debtor countries, strengthening
its process for assessing the specific needs of debtor nations.
He urged a wholesale reorganization of bank personnel. Baker
said, "We simply believe that more discretion and policy
influence should lie with the parties which contribute the
lion's share of resources."
    He pointed out that despite tight budget problems the
Reagan administration has asked Congress to finance the IADB
and other multilateral development banks.
    Pointing out that such funding was difficult today in the
best of circumstances, he said it would be impossible if
Congress did not have confidence in bank lending policies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13832" NEWID="8311">
<DATE>23-MAR-1987 11:08:18.96</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;f1267&#31;reute
r f BC-TONKA-&lt;TKA>-SEES-LOWE   03-23 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>TONKA &lt;TKA> SEES LOWER FISCAL FIRST QUARTER NET</TITLE>
<DATELINE>    MINNETONKA, MINN., March 23 - </DATELINE><BODY>Tonka Corp said it expects
results for its fiscal first quarter to end April four, to
decline from the record earnings of 3.8 mln dlrs or 57 cts a
share and revenues of 53.2 mln dlrs.
    The toy manufacturer attributed its anticipated lower
financial results to an an expected moderate decline in
shipments of its Pound Puppies product line.
    Tonka also said it expects revenues and earnings to remain
lower through the 1987 first half compared with 1986 record
results of 125.4 mln dlrs in revenues and 10.3 mln dlrs in net
earnings or 1.47 dlrs a share.
    The company said its level of shipments is good despite a
conservative buying pattern on the part of retailers industry
wide. Tonka's first quarter shipments will be down somewhat
from 1986 record levels and gross profit margins will be down
slightly from a year ago, it said.
    Second half sales are expected to be stronger based on a
return to a more traditional seasonal shipping pattern in which
retailers order and stock conservatively early in the year and
time large shipments for the second half, it said.
    Tonka said that while the pace of order writing is trailing
last year's, bookings are "very good" for orders on several of
its new product introductions for 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13833" NEWID="8312">
<DATE>23-MAR-1987 11:08:37.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1270&#31;reute
u f BC-BRAZIL-DEBT-OFFICIAL   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL DEBT OFFICIAL OFFERS RESIGNATION</TITLE>
<DATELINE>    SAO PAULO, March 23 - </DATELINE><BODY>A senior Brazilian debt negotiator,
Antonio de Padua Seixas, has offered to resign from his post as
Director for External Debt Management at the Central Bank, a
bank spokesman said.
    The spokesman told Reuters by telephone from Brasilia that
Seixas had offered to resign last week but the government had
not yet responded.
    Seixas, who has played a leading role in negotiations with
creditors over Brazil's 109 billion dlr foreign debt, is not
attending current debt discussions in Miami.
    Brazil is talking to bank creditors at Miami during a
meeting of the Inter-American Development Bank, its first
discussions with these creditors since it suspended interest
payments last month on its 68 billion dlr debt to commercial
banks.
    The Central Bank spokesman said he did not know why Seixas
wanted to leave his job.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13834" NEWID="8313">
<DATE>23-MAR-1987 11:08:54.12</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1273&#31;reute
r f BC-CHILD-WORLD-INC-&lt;CWLD   03-23 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>CHILD WORLD INC &lt;CWLD> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    AVON, Mass., March 23 -
    </DATELINE><BODY>Shr 1.34 dlrs vs 1.09 dlrs
    Net 15.4 mln vs 12.6 mln
    Sales 323.6 mln vs 240.2 mln
    Avg shrs 11.5 mln vs 11.5 mln
    Year
    Shr 95 cts vs 91 cts
    Net 10.9 mln vs 9,368,000
    Sales 628.8 mln vs 513.1 mln
    Avg shrs 11.5 mln vs 10.3 mln
    NOTE: Latest year net cut on mln dlrs by investment tax
credit loss.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13835" NEWID="8314">
<DATE>23-MAR-1987 11:09:57.28</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;f1282&#31;reute
h f BC-BAYERNVEREIN-EXPECTS   03-23 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BAYERNVEREIN EXPECTS UNCHANGED DIVIDEND FOR 1987</TITLE>
<DATELINE>    MUNICH, March 23 - </DATELINE><BODY>Bayerische Vereinsbank AG &lt;BVMG.F>
expects to pay an unchanged dividend of 13 marks on 1987
earnings but profits will only barely reach last year's record
levels, management board spokesman Maximilian Hackl said.
    He told the annual news conference that possible credit
risks, especially those associated with foreign nations, had
largely been covered. Risk provisions in 1987 were therefore
unlikely to reach the same high level as in 1986.
    Group bank net profit rose to 275.52 mln marks in 1986 from
222.73 mln the previous year and parent bank net profit
increased to 187.63 mln marks from 161.58 mln.
    Hackl said that interest margins in the banking business
had declined to 2.71 pct last year from 2.78 pct the previous
year. But in the mortgage sector, the margins had increased
slightly and stood around 0.7 pct.
    Parent bank commission surplus in the securities business
had risen almost 15 pct to 358 mln marks in 1986.
    Expenses for personnel had increased 7.5 pct to 782 mln
marks and others costs had increased 9.4 pct to 272 mln marks.
    The parent bank's 1986 partial operating profit, which
excludes earnings from trading on its own account, had climbed
two pct to 671 mln marks.
    The parent bank's balance sheet total rose 5.3 pct to 81.5
billion marks at end-1986 compared with end-1985, Hackl said.
    It was boosted by a three billion mark rise in mortgage
business and a 1.1 billion mark increase in banking business.
    The mortgage sector's share in total parent bank business
volume rose to 46 pct from 45.
    Hackl said that in January and February this year, the
bank's credit business had not livened up. But despite the
sharp downturn on German bourses, profits from trading on own
account had increased in the first two 1987 months compared
with the same year-ago period. He gave no detailed figures.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13836" NEWID="8315">
<DATE>23-MAR-1987 11:12:26.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V A
&#22;&#22;&#1;f1296&#31;reute
b f BC-/BAKER-URGES-BANKS-TO   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER URGES BANKS TO MULL NEW LOAN PLANS</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Treasury Secretary James Baker urged
commercial banks to be open to new ideas for reducing the third
world debt burden.
    "I believe the commercial banks need to be open to creative
ideas for reducing the debt burden," Baker told the annual
meeting of the Inter-American Development Bank.
    But he said that he was confident banks would make
"substantial new lending" to the major debtors this year.
    He pointed out principal debtor nations are expected to
grow an average 3.5 pct this year, the fastest real rate of
growth since 1980.
    Saying the U.S. debt strategy was making "substantial
headway", Baker said import volumes of debtor countries are
forecast to jump over six pct in 1987 and export volumes almost
five pct -- the best performance in three years.
    He also said economic growth has kept pace with or
surpassed the growth in debt for nine of the 15 major debtors
since 1983.
    "This is a start -- and I venture to say a good one," the
Treasury Secretary said, and he urged the audience of Western
and Latin finance officials and bankers to stand fast against
suggestions of solutions like debt relief.
    While such ideas have political appeal, Baker said, they
would mean a drying up of capital flowing to debtors.
    And even if free market reforms followed, debt fogiveness
would frighten away investors who would not "risk their capital
in a country which abandoned its obligations."
    And he said, "A debt forgiveness plan that damages
commercial banks also weakens confidence in world financial
stability."
    He cautioned that resolving the debt situation would be a
"gradual and painstaking" process, varying from country to
country.
    Reporting on the U.S. debt strategy, Baker said attitudes
in debtor nations have changed and there is much greater
acceptance of free market reforms than hitherto.
    Some countries like Argentina are pursuing anti-inflation
programs. Others, like the Philippines and Chile, are
privatizing companies and swapping debt for equity.
    The International Monetary Fund and World Bank, meanwhile,
have committed nearly 12 billion dlrs in loans for the 15 major
debtor nations since late 1985, official creditors have
rescheduled 14.5 billion dlrs in outstanding loans through the
Paris club, while commercial banks are making new loans.
    Baker pointed out the banks have rescheduld nearly 70
billion dlrs of debt, reaching agreements recently with Chile,
Venezuela and Mexico.
    Elsewhere in his speech, Baker outlined the progress
industrial nations are making in promoting moderate global
growth, low inflation and efforts to reduce massive trade
imbalances.
    He maintained world economic conditions were "continuuing to
improve" a development that would provide a positive backdrop
for debtor nations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13837" NEWID="8316">
<DATE>23-MAR-1987 11:16:53.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1311&#31;reute
u f BC-TOKAI-BANK-DOUBLES-ST   03-23 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>TOKAI BANK DOUBLES STERLING CD FACILITY</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>The Tokai Bank Ltd, London Branch, is
doubling the size of a sterling certificate of deposit issuance
facility established last year to 200 mln stg from the original
100 mln, Chemical Bank International Ltd said as arranger.
    The increase reflects active use of the facility from the
first month after signing and growing international interest
from institutional investors at sub-LIBOR (London Interbank
Offered Rates) levels.
    Barclay's de Zoete Wedd Ltd has been added to the group of
dealers for the program.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13838" NEWID="8317">
<DATE>23-MAR-1987 11:18:47.44</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;f1324&#31;reute
d f BC-DYNAMIC-HOMES-INC-&lt;DY   03-23 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>DYNAMIC HOMES INC &lt;DYHM> 4TH QTR NET</TITLE>
<DATELINE>    DETROIT LAKES, Minn., March 23 -
    </DATELINE><BODY>Shr nil vs loss two cts
    Net profit 2,900 vs loss 43,500
    Revs 1,660,300 vs 950,000
    12 mths
    Shr loss 30 cts vs loss 37 cts
    Net loss 578,900 vs loss 713,300
    Revs 5,112,100 vs 3,659,600
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13839" NEWID="8318">
<DATE>23-MAR-1987 11:18:53.57</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1325&#31;reute
d f BC-&lt;canada-lease-financi   03-23 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;CANADA LEASE FINANCING LTD> 3RD QTR DEC 31 NET</TITLE>
<DATELINE>    Toronto, March 23 -
    </DATELINE><BODY>Shr 30 cts vs 12 cts
    Net 727,000 vs 266,000
    Revs 27.8 mln vs 21.1 mln
    Nine mths
    Shr 59 cts vs 48 cts
    Net 1,355,000 vs 1,098,000
    Revs 69.4 mln vs 59.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13840" NEWID="8319">
<DATE>23-MAR-1987 11:20:56.51</DATE>
<TOPICS><D>ship</D><D>grain</D><D>oilseed</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f1331&#31;reute
r f BC-ROTTERDAM-GRAIN-HANDL   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ROTTERDAM GRAIN HANDLER SAYS PORT BALANCE ROSE</TITLE>
<DATELINE>    ROTTERDAM, March 23 - </DATELINE><BODY>Graan Elevator Mij (GEM) said its
balance in port of grains, oilseeds and derivatives rose to
70,000 tonnes on March 21 compared with 10,000 a week earlier
after arrivals of 192,000 tonnes and discharges of 132,000
tonnes last week.
    The balance comprised 25,000 tonnes of grains plus oilseeds
and 45,000 tonnes of derivatives.
    This week's estimated arrivals total 487,000 tonnes, of
which 107,000 are grains/oilseeds and 380,000 derivatives.
    The figures cover around 95 pct of Rotterdam traffic in the
products concerned.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13841" NEWID="8320">
<DATE>23-MAR-1987 11:21:09.82</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;f1332&#31;reute
u f BC-PUBLIC-SERVICE-N.C.-&lt;   03-23 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>PUBLIC SERVICE N.C. &lt;PSNC> RAISES PAYOUT</TITLE>
<DATELINE>    GASTONIA, N.C., March 23 - </DATELINE><BODY>Public Service Co of North
Carolina Inc said its board raised the quarterly dividend to 23
cts per share from 22-1/2 cts previously, as adjusted for a
two-for-one stock split that takes effect April 27.
    The dividend is payable July One to holders of record June
16.
    The company also said it plans to file soon for an offering
of  up to one mln new shares, which would give it a total of
about 8,850,000 post-split shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13842" NEWID="8321">
<DATE>23-MAR-1987 11:23:19.17</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1339&#31;reute
f f BC-******MITSUBISHI-BANK   03-23 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MITSUBISHI BANK'S NY BRANCH SETS ONE BILLION DLR U.S. MEDIUM-TERM NOTE PROGRAM
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13843" NEWID="8322">
<DATE>23-MAR-1987 11:24:56.56</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1341&#31;reute
u f BC-WICKES-&lt;WIX>-PLANS-RE   03-23 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>WICKES &lt;WIX> PLANS REVERSE SPLIT, CALLS DEBT</TITLE>
<DATELINE>    SANTA MONICA, Calif., March 23 - </DATELINE><BODY>Wickes Cos Inc said its
board authorized a one-for-five reverse stock split and plans
to call the company's its 12 pct senior subordianted debentures
due 1994.
    The company said it will seek shareholder approval of the
reverse stock split at the annual shareholders meeting
scheduled for June 18.
    At January 31 Wickes had 239 mln shares outstanding, the
company also said.
    Wickes also said it will call the debentures on Dec 1,
1987, assuming market conditions remain essentially the same.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13844" NEWID="8323">
<DATE>23-MAR-1987 11:25:42.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE><D>martens</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1343&#31;reute
u f BC-BELGIAN-PRIME-MINISTE   03-23 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN PRIME MINISTER DEFENDS AUSTERITY PROGRAM</TITLE>
<DATELINE>    BRUSSELS, March 23 - </DATELINE><BODY>Belgian Prime Minister Wilfried
Martens said government austerity programs adopted in the last
six years had resolved some of the economy's urgent problems,
but that unemployment remained a major obstacle.
    Martens told Belgian television the austerity measures had
brought the country's balance of payments from deficit to
surplus, helped reduce inflation and boosted economic growth.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13845" NEWID="8324">
<DATE>23-MAR-1987 11:25:53.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1344&#31;reute
b f BC-***JEFFERIES-GROUP-SA   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
***<TITLE>JEFFERIES GROUP SAID IT RESOLVED ITS ACCOUNTING DISPUTE WITH SEC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13846" NEWID="8325">
<DATE>23-MAR-1987 11:27:45.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1351&#31;reute
u f AM-DEBT-ARGENTINA   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINA EXPECTS QUICK AGREEMENT WITH BANKS</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Argentina expects to reach agreement with
its commercial bank creditors in the near future on a new
financing package including 2.15 billion dlrs in new loans,
Treasury Secretary Mario Brodersohn said.
    Addressing Argentine businessman during the Inter-American
Development Bank (IADB) meeting here, he said the two sides
will meet again next Thursday in New York.
    "We have made significant progress over the last 30 days
and we should have an agreement in a shorter lapse of time than
managed by Mexico, Venezuela or Chile," he said.
    Brodersohn reiterated that Argentina's goal is to reach an
agreement which permits four pct growth this year, following
last year's 5.5 pct and negative growth in 1985.
    He said discussions were still continuing on
debt-capitalization plans and schemes for on-lending, in the
light of certain Argentine concerns.
    The government is anxious that debt that is capitalized
should represent new investment in the country on a dollar
invested per dollar capitalized basis, rather than a simple
transfer of ownership of the debt, he said.
    At the same time, it wants to avoid an expansionary
monetary impact from on-lending schemes, whereby debt
repayments are recycled by banks into new loans.
    Brodersohn said also agreement was close on the proposal
for so-called exit bonds, whereby creditors can sell out their
debt.
    Argentina's 1987 financing needs come to 3.53 billion dlrs,
including the 2.15 billion from banks and a 1.38 billion dlr
IMF loan already agreed. It is projecting a current account
deficit of 2.2 billion dlrs after one of 2.4 billion last year.
    It estimates export earnings will have dropped by 7.1
billion dlrs between 1985-87 as a result of falling commodity
prices.
    Argentina, owing 50 billion dlrs, is Latin America's fourth
biggest debtor.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13847" NEWID="8326">
<DATE>23-MAR-1987 11:27:48.73</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1352&#31;reute
b f BC-ICCO-puts-1986/87-wor   03-23 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ICCO PUTS 1986/87 WORLD COCOA SURPLUS  94,000 TONNES VS 118,000 IN 1985/86 - DELEGATES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13848" NEWID="8327">
<DATE>23-MAR-1987 11:28:13.53</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;f1355&#31;reute
u f BC-INVESTOR-ACQUIRES-9.9   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTOR ACQUIRES 9.9 PCT OF MUNFORD &lt;MFD></TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>A joint venture controlled by Dallas
investor Bradbury Dyer said it had acquired 377,000 shares, or
9.9 pct, of the common stock of Munford Inc.
    In a filing with the Securities and Exchange Commission,
the concern, which comprises Paragon Associates and Paragon
Associates II, said it bought the stake for 7,659,000 dlrs and
may buy more shares.
    Paragon said it bought the shares for investment purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13849" NEWID="8328">
<DATE>23-MAR-1987 11:32:43.82</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;f1379&#31;reute
r f BC-costain-to-change   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>COSTAIN TO CHANGE NAME TO COSCAN DEVELOPMENT</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>&lt;Costain Ltd>'s shareholders will be
asked at the April 16 annual meeting to approve a change in the
company's name to Coscan Development Ltd, the company said in
the annual report.
    Under terms of the 1984 sale of controlling interest in the
company to &lt;Carena-Bancorp Inc> from Costain Group Plc, the
Costain name was to be changed.
    Costain said a settlement was reached with the Costain
Group concerning a legal action launched before shareholders at
the 1986 annual meeting approved in principle changing the
company's name to Costan. The Costan name was not implemented.
    Costain also said in the annual report that it should
report further growth in earnings due to increased level of
activity in 1987 and expectation of improved margins.
    It said it expects housing revenue will increase by 25 pct
in 1987, supported by an increased number of active projects
and a carry forward of 427 sales. Costain reported housing
revenue in 1986 of 229.6 mln dlrs, up from 159.2 mln dlrs in
1985.
    Costain previously reported 1986 earnings of 12.9 mln dlrs
or 93 cts a share, compared to 6.9 mln dlrs or 63 cts a share
in the prior year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13850" NEWID="8329">
<DATE>23-MAR-1987 11:32:56.33</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;f1380&#31;reute
b f BC-/MITSUBISHI-NY-BRANCH   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MITSUBISHI NY BRANCH SETS U.S. CD NOTE PROGRAM</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>The New York branch of Mitsubishi Bank
Ltd said it set a one billion dlr U.S. medium-term certificate
of deposit note program.
    The bank said this will be the largest such program ever
established by a U.S. or foreign commercial bank.
    Proceeds of the continuous offering of the medium-term CD
notes will be used for general funding purposes of the New York
bank. The firm named Morgan Stanley and Co Inc as lead agent of
the program, with Merrill Lynch Capital Markets and Salomon
Brothers Inc as co-agents. The parent company had total assets
of 210 billion dlrs as of September 30, 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13851" NEWID="8330">
<DATE>23-MAR-1987 11:35:47.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1400&#31;reute
u f BC-JEFFERIES-&lt;JEFG>-SETT   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>JEFFERIES &lt;JEFG> SETTLES DISPUTE WITH SEC</TITLE>
<DATELINE>    LOS ANGELES, March 23 - </DATELINE><BODY>Jefferies Group Inc said it
resolved an accounting dispute with the staff of the Securities
and Exchange Commission resulting from a brokerage transaction
in which the company acted as agent for buyer and seller.
    The transaction resulted in a threat of litigation and a
settlement involving a 1.2 mln dlr loss to Jefferies Group and
a personal 3.8 mln dlr loss to former chairman Boyd Jefferies,
the company said.
    It also said the dispute was not related to the announced
settlement with the SEC and the resignation of Boyd Jefferies.
    Last month the company announced that the SEC had
questioned its fourth quarter and fiscal year earnings because
of the method used by the company to account for the
transaction.
    In the SEC's view, the 3.8 mln dlr loss incurred by Boyd
Jefferies should have been recorded by the company  as a loss
with a corresponding contribution to capital by Jefferies, the
company said.
    Jefferies Group reported fourth quarter earnings of 4.3 mln
dlrs, or 48 cts per share and income of 13.7 mln dlrs, or 1.55
dlrs per share for all of 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13852" NEWID="8331">
<DATE>23-MAR-1987 11:36:31.90</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1407&#31;reute
r f BC-BP-&lt;BP>-UNIT-TO-BUILD   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BP &lt;BP> UNIT TO BUILD GOLD EXTRACTION PLANT</TITLE>
<DATELINE>    DENVER, March 23 - </DATELINE><BODY>Amselco Minerals Inc, a unit of British
Petroleum Co PLC, said it approved construction of a new plant
with Nerco Minerals Co to process carbon ore to recover
microscopic gold reserves.
    The plant, to be located at the Alligator Ridge Mine near
Ely, Nev., will process 1,000 tons a day of carbon-bearing ore
to recover 70,000 ounces of gold over three years, it said.
    The plant will use a chemical process called leaching to
extract the residual gold, which could not otherwise be
economically recovered. Operation of the plant, to be jointly
owned by Amselco and Nerco, is set to start in October.
    The Alligator Ridge Mine is jointly owned by Amselco and
Nerco, a unit of Nerco Inc &lt;NER>, which is 90.5 pct owned by
Pacificorp &lt;PPW>, a Portland, Ore., holding company.
    The mine has produced about 60,000 ounces of gold a year
since 1981 using another leaching process, a BP spokesman said.
The open pit oxide ore reserves of Alligator Ridge will be
exhausted by August 1987, as expected, when the work force will
be reduced to about 72 from 127, the company said.
    The employees remaining after that will operate the new
plant, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13853" NEWID="8332">
<DATE>23-MAR-1987 11:37:00.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1410&#31;reute
r f BC-CANADA-DEVELOPMENT-IN   03-23 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA DEVELOPMENT IN 61 MLN DLR SHARE ISSUE</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>&lt;Canada Development Corp> said it
agreed with investment dealers Wood Gundy Inc and Dominion
Securities Inc to sell six mln common shares in Canada for
60,750,000 dlrs at 10.125 dlrs a share.
    The company said it filed a preliminary prospectus for the
offer in Ontario and was filing across the rest of Canada.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13854" NEWID="8333">
<DATE>23-MAR-1987 11:37:35.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1415&#31;reute
r f BC-BIOCRAFT-&lt;BCL>,-AMERI   03-23 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>BIOCRAFT &lt;BCL>, AMERICAN CYANAMID &lt;ACY> IN PACT</TITLE>
<DATELINE>    ELMWOOD PARK, N.J., March 23 - </DATELINE><BODY>Biocraft Laboratories Inc
said it signed a contract with American Cyanamid Co to make
cefixime, a third generation oral cephalosporin.
    It said American Cyanamid's Lederle Laboratories filed a
new drug application with the Food and Drug Administration for
the product.
    According to the agreement, Biocraft will manufacture the
product for American Cyanamid for the first three years of
commercial production.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13855" NEWID="8334">
<DATE>23-MAR-1987 11:37:42.88</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;f1416&#31;reute
r f BC-MOTO-PHOTO-&lt;MOTO>-SEE   03-23 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>MOTO PHOTO &lt;MOTO> SEES BETTER 1ST QUARTER 1987</TITLE>
<DATELINE>    DAYTON, Ohio, March 23 - </DATELINE><BODY>Moto Photo Inc  president, Michael
Adler, said he expects the company's first quarter earnings for
fiscal 1987 to be better than the same quarter a year ago.
    Adler said, however, that the quarter would still be a
loss, primarily because it is the low season for the imaging
business.
    Photo Moto recored a net loss for the first quarter 1986
ending March 31 of 328,889 dlrs.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13856" NEWID="8335">
<DATE>23-MAR-1987 11:38:07.10</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1420&#31;reute
d f BC-CANADA-SOUTHERN-PETRO   03-23 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA SOUTHERN PETROLEUM LTD&lt;CSW> 2ND QTR LOSS</TITLE>
<DATELINE>    CALGARY, Alberta - </DATELINE><BODY>Qtr ends Dec 31
    Shr loss one ct vs profit two cts
    Net loss 52,922 vs profit 220,041
    Revs 481,832 vs 824,554
    Six mths
    Shr loss one ct vs profit four cts
    Net loss 104,129 vs profit 345,515
    Revs 934,685 vs 1,465,153
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13857" NEWID="8336">
<DATE>23-MAR-1987 11:38:15.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1421&#31;reute
d f BC-ZENITH-ELECTRONICS-&lt;Z   03-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH ELECTRONICS &lt;ZE> TO BRING JOBS TO U.S.</TITLE>
<DATELINE>    SPRINGFIELD, MO., March 23 - </DATELINE><BODY>Zenith Electronics Corp said
ratification of a new union contract on Sunday will enable the
company to bring some jobs back from Mexico to its color
television manufacturing factory in Springfield, Mo.
    The company did not specify the number of jobs.
    It said a new contract ratified by members of the
International Brotherhood of Electrical Workers will reduce
wages 8.1 pct in the first three years of the pact. Zenith said
the contract, replacing an earlier one that was to expire in
March 1988, assures it will keep 600 assembly jobs from going
to Mexico.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13858" NEWID="8337">
<DATE>23-MAR-1987 11:38:21.78</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;f1422&#31;reute
d f BC-RECOTON-CORP-&lt;RCOT>-4   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>RECOTON CORP &lt;RCOT> 4TH QTR LOSS</TITLE>
<DATELINE>    LONG ISLAND CITY, N.Y., March 23 -
    </DATELINE><BODY>Shr loss 14 cts vs profit 26 cts
    Net loss 384,000 vs profit 714,000
    Revs 8,367,000 vs 9,909,000
    Year
    Shr profit 19 cts vs profit 57 cts
    Net profit 518,000 vs profit 1,547,000
    Revs 28.7 mln vs 26.7 mln
    NOTE: Includes income tax credits of 302,000 dlrs and 1.3
mln dlrs in 1986 and 1985, respectively, and 602,000 dlrs in
1985 qtr. Current qtr after tax provision of 452,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13859" NEWID="8338">
<DATE>23-MAR-1987 11:38:25.53</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;f1423&#31;reute
d f BC-SANFORD-CORP-&lt;SANF>-1   03-23 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>SANFORD CORP &lt;SANF> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    BELLWOOD, Ill., March 23 -
    </DATELINE><BODY>Shr 28 cts vs 13 cts
    Net 1,898,000 vs 892,000
    Sales 16.8 mln vs 15.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13860" NEWID="8339">
<DATE>23-MAR-1987 11:38:33.58</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;f1424&#31;reute
d f BC-canada-southern-pete   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;CANADA SOUTHERN PETROLEUM LTD> 2ND QTR LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, March 23 -
    </DATELINE><BODY>Period ended December 31, 1986
    Shr loss one ct vs profit two cts
    Net loss 52,922 vs profit 220,041
    Revs 481,832 vs 824,554
    Six mths
    Shr loss one ct vs profit four cts
    Net loss 104,129 vs profit 345,515
    Revs 937,685 vs 1,460,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13861" NEWID="8340">
<DATE>23-MAR-1987 11:38:42.51</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;f1425&#31;reute
d f BC-HOSPOSABLE-PRODUCTS-I   03-23 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>HOSPOSABLE PRODUCTS INC &lt;HOSP> 4TH QTR NET</TITLE>
<DATELINE>    BOUND BROOK, N.J., March 23 -
    </DATELINE><BODY>Shr 12 cts vs eight cts
    Net 102,002 vs 59,396
    Sales 3,024,423 vs 2,437,489
    Avg shrs 1,032,000 vs 746,004
    Year
    Shr 64 cts vs 45 cts
    Net 570,491 vs 340,852
    Sales 11.1 mln vs 10.6 mln
    Avg shrs 1,032,000 vs 753,948
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13862" NEWID="8341">
<DATE>23-MAR-1987 11:38:57.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1427&#31;reute
d f BC-DUFF/PHELPS-LOWERS-BE   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>DUFF/PHELPS LOWERS BENEFICIAL CORP &lt;BNL> DEBT</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Duff and Phelps said it lowered the
ratings on Beneficial Corp's senior debt to DP-7 (low A) from
DP-6 (middle A) and preferred stock to DP-8 (High BBB) from
DP-7, affecting approximately four billion dlrs in debt.
    The changes reflect the restruction of Beneficial which
include the sale of subsidiaries Western National Life,
American Centennial Insurance Co and Beneficial National Bank
USA. Charges taken last year as a result of reserve
inadequacies in the property and casualty subsidiary sharply
reduced the equity base and increased the financial leverage of
the company, Duff and Phelps said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13863" NEWID="8342">
<DATE>23-MAR-1987 11:39:10.15</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>bangemann</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1428&#31;reute
d f BC-BANGEMANN-DENIES-NEWS   03-23 0179</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGEMANN DENIES NEWSPAPER INTERVIEW ON SUBSIDIES</TITLE>
<DATELINE>    BONN, March 23 - </DATELINE><BODY>The West German Economics Minister today
denied giving a newspaper interview which quoted him as saying
the state could not continue to pour money into the country's
ailing steel and coal industries.
    Economics Ministry spokesman Dieter Vogel said in a
statement Bangemann had contacted him from New Zealand, where
he is attending a General Agreement on Trade and Tariffs (GATT)
ministerial meeting, to deny giving the interview to the
conservative daily Die Welt. The paper quoted Bangemann as
saying that continued subsidies would endanger other parts of
the German economy by making them uncompetitive.
    Vogel said Bangemann had pledged that everything possible
would be done to minimize the effects of reduced coal and steel
production on the workforces and regions concerned.
    Die Welt said the interview with Bangemann had taken place
at a meeting of his Free Democratic Party (FDP) in Darmstadt
last Friday, adding that it had a tape recording of his
comments which it would publish tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13864" NEWID="8343">
<DATE>23-MAR-1987 11:40:34.57</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f1434&#31;reute
f f BC-******FED-SAYS-IT-SET   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED SAYS IT SETS 1.5 BILLION DLRS OF CUSTOMER REPURCHASE AGREEMENTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13865" NEWID="8344">
<DATE>23-MAR-1987 11:43:29.19</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1443&#31;reute
b f BC-/-FED-ADDS-RESERVES-V   03-23 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>FED ADDS RESERVES VIA CUSTOMER REPURCHASES</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>The Federal Reserve entered the U.S.
Government securities market to arrange 1.5 billion dlrs of
customer repurchase agreements, a Fed spokesman said.
    Dealers said Federal funds were trading at 6-3/16 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="13866" NEWID="8345">
<DATE>23-MAR-1987 11:44:43.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1447&#31;reute
r f BC-HAWKEYE-BANCORP-&lt;HWKB   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>HAWKEYE BANCORP &lt;HWKB> EXCHANGE OFFER EXPIRES</TITLE>
<DATELINE>    DES MOINES, March 23 - </DATELINE><BODY>Hawkeye Bancorp said its exchange
offer to holders of its preferred stock expired, and a total of
14,721 shares of preferred had been tendered.
    Hawekeye said it expects to accept for exchange all shares
tendered. It said the exchange ratio would be 15.8446 shares of
common for each share of preferred stock tendered. As a result,
Hawkeye would have outstanding 6,922,215 shares of common stock
and 155,054 shares of preferred which are convertible into
1,150,005 additional common shares.
    Upon acceptance of the shares, Hawkeye said it would
eliminate outstanding preferred shares having dividend
arrearages totaling 204,499 dlrs and a liquidation preference
of 1,676,599 dlrs.
    It said the exchange offer is a part of Hawkeye's
restructuring in accordance with its previously announced debt
restructuring agreement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13867" NEWID="8346">
<DATE>23-MAR-1987 11:44:59.67</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;f1449&#31;reute
r f BC-IRT-PROPERTY-&lt;IRT>-MA   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>IRT PROPERTY &lt;IRT> MAY SELL CONVERTIBLE DEBT</TITLE>
<DATELINE>    ATLANTA, March 23 - </DATELINE><BODY>IRT Property Co said it is in talks on
the issucne in Europe of 30 mln dlrs of 15-year two pct
debentures convertible into common stock at 23.50 dlrs per
share.
    It said investors would have the right to require the
company to redeem half of the issue during the 49th month of
the term of the bonds and the remainder during the 73rd month.
    On exercise of the redemption right, the investors would be
entitled to repayment of the bond at a premium to par that
would provide a total rate of return equal to the yield on the
issue date of four or six-year U.S. Treasury bonds.
    IRT said conversion would be permitted at any time after 90
days after completion of the distribution of the debentures. 
It said the conversion price might be adjusted or the offering
discontinued based on fluctuations in the market price of IRT
common before distribution of the debentures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13868" NEWID="8347">
<DATE>23-MAR-1987 11:47:16.43</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1459&#31;reute
u f BC-SWEDISH-GNP-ROSE-LESS   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDISH GNP ROSE LESS THAN EXPECTED, FIGURES SHOW</TITLE>
<DATELINE>    STOCKHOLM, March 23 - </DATELINE><BODY>Sweden's Gross National Product rose
1.3 pct last year against 2.3 pct in 1985, mainly due to a
lower than forecast growth in exports and a sharp fall in total
investments, the Central Bureau of Statistics reported.
    Private consumption rose 4.1 pct during 1986 against 2.7
pct in 1985 whereas the Finance Ministry had expected an
increase of only 3.6 pct. Total investments fell 0.7 pct
against a rise of 6.3 pct in 1985. The Finance Ministry had
forecast a rise of 0.3 pct in 1986.
    Exports rose 2.1 pct last year against 2.3 pct in 1985, but
the Finance Ministry had predicted a growth of 2.8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13869" NEWID="8348">
<DATE>23-MAR-1987 11:47:29.74</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1460&#31;reute
f f BC-******GENCORP-FILES-S   03-23 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GENCORP FILES SUIT AGAINST GENERAL PARTNERS OFFER 
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13870" NEWID="8349">
<DATE>23-MAR-1987 11:48:48.39</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;f1463&#31;reute
u f BC-MCDONALD'S-&lt;MCD>-UP-O   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>MCDONALD'S &lt;MCD> UP ON REAFFIRMED RECOMMENDATION</TITLE>
<DATELINE>    NEW YORK, MARCH 23 - </DATELINE><BODY>McDonald's Corp rose sharply today
after receiving a second recommendation in as many sessions,
traders said.
    Today, analyst Richard Simon of Goldman Sachs and Co
reaffirmed his recommendation of the stock and put it on his
"focus list," traders familiar with the recommendation said.
    Simon was unavailable for comment.
    The stock jumped 2-3/4 to 79-7/8.
    On Friday, analyst Daniel Lee of Drexel Burnham Lambert Inc
reiterated a recommendation of the stock focusing on increased
comparable store sales and consistent annual earnings growth.
Friday, the stock closed 1-5/8 points higher.
    Wendy's, another operator of fast food restaurants, rose
one to 12-3/4 in active trading. Vague rumors that Wendy's is a
takeover candidate continued to circulate Wall Street, traders
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13871" NEWID="8350">
<DATE>23-MAR-1987 11:50:02.13</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;f1470&#31;reute
u f BC-ALLIED-PRODUCTS-CORP   03-23 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLIED PRODUCTS CORP &lt;ADP> YEAR NET</TITLE>
<DATELINE>    CHICAGO, March 23 -
    </DATELINE><BODY>Shr 3.36 dlrs vs 3.33 dlrs
    Net 16,173,000 vs 10,603,000
    Sales 420.8 mln vs 276.1 mln
    Avg shrs 4.4 mln vs 3.2 mln
    NOTE: 1985 net includes tax credits of 6.9 mln dlrs or 2.19
dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13872" NEWID="8351">
<DATE>23-MAR-1987 11:51:05.22</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;f1474&#31;reute
u f BC-AMERICAN-TELEVISION-&lt;   03-23 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN TELEVISION &lt;ATCMA> BUYS TIME &lt;TL> UNIT</TITLE>
<DATELINE>    ENGLEWOOD, Colo., March 23 - </DATELINE><BODY>American Television and
Communications Corp said it has completed the acquisition of
Manhattan Cable Television Inc from Time Inc for about
9,400,000 Class B common shares.
    American Television was spun off from Time in August 1986.
The company said following this transaction, Time now owns 82
pct of American Television.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13873" NEWID="8352">
<DATE>23-MAR-1987 11:51:45.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1476&#31;reute
d f BC-HIGH-COURT-LETS-STAND   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>HIGH COURT LETS STAND RULING FOR WESTERN UNION</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Supreme Court let stand a ruling
that threw out a 36-mln-dlr judgment that Western Union
Telegraph Co had been ordered to pay to a now-defunct
independent teleprinter vendor.
    The justices, without comment, left intact a ruling last
July by a U.S. Court of Appeals in Chicago that threw out the
jury's 1985 verdict and judgment in a major antitrust case.
    The case stemmed from a 1977 lawsuit filed by Olympia
Equipment Leasing Co, Alfco Telecommunications Co and the
companies' late founder, Abraham Feldman of San Francisco.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13874" NEWID="8353">
<DATE>23-MAR-1987 11:53:00.98</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;f1481&#31;reute
r f BC-DWG-&lt;DWG>-COMPLETES-S   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>DWG &lt;DWG> COMPLETES SALE OF UNIT</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>DWG Corp said it has completed the
previously-announced sale of its Texsun Corp subsidiary to
Texsun Corp subsidiary to Sundor Brands Inc for 27.5 mln dlrs
and the assumption of liabilities.
    It said proceeds have been placed in escrow pending the
outcome of talks with lenders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13875" NEWID="8354">
<DATE>23-MAR-1987 11:54:01.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1484&#31;reute
u f BC-BANK-OF-TOKYO-MANAGER   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF TOKYO MANAGER IN PERU HURT IN GUN ATTACK</TITLE>
<DATELINE>    LIMA, March 23 - </DATELINE><BODY>A man identified as the general manager of
Bank of Tokyo in Peru was wounded in a sub-machine gun attack,
police said.
    They said the man, whom they named as Tadao Sawaki, came
under fire by three gunmen near his office this morning. He was
in satisfactory condition in hospital, doctors said.
    Bank of Tokyo officials made no comment. A Japanese embassy
official identified Sawaki as general manager of the bank. No
group immediately claimed responsibility for the attack.
    The bank has over five mln dlrs in foreign loans
outstanding to Peru, according to economy ministry statistics.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13876" NEWID="8355">
<DATE>23-MAR-1987 11:54:11.28</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1485&#31;reute
r f BC-ALLIED-&lt;ASU>-SELLING   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLIED &lt;ASU> SELLING MICHIGAN UNITS</TITLE>
<DATELINE>    DETROIT, March 23 - </DATELINE><BODY>Allied Supermarkets Inc said it entered
into a definitive agreement to sell its Michigan operations for
about 46 mln dlrs in cash and debt plus assumption of
substantially all of Allied's liabilities other than senior
subordinated debentures.
    It said the operations will be sold to Meadowdale Foods
Inc, a corporation formed by members of its existing
management, including Chairman David Page and President Lon
Makanoff.
    The transaction is conditioned on  Allied's pending merger
with the Vons Cos Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13877" NEWID="8356">
<DATE>23-MAR-1987 11:56:14.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1489&#31;reute
u f BC-BANK-OF-FINLAND-ISSUE   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF FINLAND ISSUES CDS FOR FIRST TIME</TITLE>
<DATELINE>    HELSINKI, March 23 - </DATELINE><BODY>The Bank of Finland issued for the
first time a small amount of its own certificates of deposit
following its decision last Friday to enter the interbank
market by buying and selling CDs, a Central Bank official said.
    The official said the volume of the Central Bank CDs, which
had a maturity of three months, was still small as today's
transactions were seen as an exercise for what is still a new
market for the Bank of Finland.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13878" NEWID="8357">
<DATE>23-MAR-1987 11:56:22.12</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1490&#31;reute
u f BC-NASD-TAKES-DISCIPLINA   03-23 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>NASD TAKES DISCIPLINARY ACTION AGAINST EX-TRADER</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The &lt;National Association of
Securities Dealers Inc> said it has taken disciplinary action
against Mark Woltz, a former trader of a major firm, suspending
him from association with any NASD member for 20 business days,
fining him 5,000 dlrs and censuring him.
    NASD did not immediately identify Woltz' former employer.
    The NASD said the disciplinary action was instituted by its
Market Surveillance Committee for alleged violations of
anti-fraud provisions under its Rules of Fair Practice.
    The association said Woltz consented to the sanctions
without admitting or denying allegations and the suspension
will start April 27 and run through May 22.
    It said its complaint alleges that from March 25, 1985 to
April 4, 1985 Woltz engaged in a manipulative and deceptive
practice known as marking the close of the market in a NASDAQ
security. The NASD did not identify the security.
    The NASD said the complaint alleges that Woltz, while his
firm owned a long inventory position in the security, caused
the firm's quotations of the security to rise on five days
within five minutes of the market close, causing the firm's bid
price to be the exclusive high bid at the market close on four
days and the shared high bid on the other day.
    It said the complaint alleges that before the market opened
on each of the following business days, Woltz caused the firm's
quotation to fall below its closing bid of the prior day.  At
no time did the firm execute transactions at the
artificially-raised prices, the NASD said.
    The NASD said the complain also alleges that Woltz violated
Article III, Sections 1, 5 and 18 of the Rules of Fair Practice.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13879" NEWID="8358">
<DATE>23-MAR-1987 11:58:08.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1495&#31;reute
r f BC-SUMMAGRAPHICS-CONTEND   03-23 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMMAGRAPHICS CONTENDS PATENT SUIT INVALID</TITLE>
<DATELINE>    FAIRFIELD, Conn., March 23 - </DATELINE><BODY>&lt;Summagraphics Corp> said the
patent infringement suit filed by Lockheed Corp's &lt;LK> Sanders
Rogers Associates unit is invalid.
    Summagraphics said it will seek an injunction to stop
Sanders from continuing with its suit.
    The company said prior to Sanders filing a patent for an
electromagnetic digitizing apparatus, it was working with
technology that was patented and subsequently reflected in the
Rogers patent.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13880" NEWID="8359">
<DATE>23-MAR-1987 12:01:43.68</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>netherlands</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1501&#31;reute
u f BC-KLM-SAYS-IT-IS-NOT-SE   03-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>KLM SAYS IT IS NOT SEEKING AIR ATLANTA STAKE</TITLE>
<DATELINE>    AMSTERDAM, March 23 - </DATELINE><BODY>KLM Royal Dutch Airlines &lt;KLM.AS> is
discussing marketing cooperation with U.S. regional carrier Air
Atlanta Inc but it is not seeking to take a stake in the
airline, a KLM spokesman said.
    "We're not considering taking either a majority or minority
stake in Air Atlanta, but we are thinking of providing them
with a loan," the spokesman told Reuters in a comment on a Wall
Street Journal report saying debt-laden Air Atlanta could sell
as much as 25 pct of its stock to the Dutch airline.
    KLM last week denied a Dutch press report saying it was
discussing a takeover of Air Atlanta.
    The KLM spokesman said Air Atlanta's regional route
network, centred on Atlanta, Ga, could serve as a feeder to
KLM's international network, which includes direct flights
between Atlanta and Amsterdam.
    KLM and Air Atlanta had been talking "for some time," he
said, but declined to elaborate further on the talks or give
details of the loan to Air Atlanta.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13881" NEWID="8360">
<DATE>23-MAR-1987 12:05:41.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE><D>chirac</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1529&#31;reute
u f BC-FRANCE-TO-BOOST-RESEA   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE TO BOOST RESEARCH FUNDS FOR STATE INDUSTRY</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>The French government will take decisions
shortly to boost the funds available for technological research
by state industry, Prime Minister Jacques Chirac said.
    Speaking to a meeting of the National Association for
Technical Research, Chirac said the government had not ruled
out raising the capital of some state groups to make more money
available for their research programs.
    "We will take decisions on this shortly -- and they will be
positive," he said in a departure from a prepared text. He gave
no details and Industry Ministry officials had no immediate
comment.
    Warning that high technology exports were rapidly losing
world market share, Chirac urged private sector industry to
step up its research efforts.
    Private sector research and development spending, at 1.3
pct of Gross Domestic Product, was below the 1.8 to 1.9 pct of
GDP spent in the U.S., West Germany and Japan, he said.
    France awarded only 12,000 registered patents in 1986,
compared with 20,000 in Britain, 30,000 in West Germany, 60,000
in the U.S. And more than 200,000 in Japan, he said. In the
U.S. Market, France was awarded 2,000 patents last year,
against 6,000 awarded to German and 11,000 to Japanese firms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13882" NEWID="8361">
<DATE>23-MAR-1987 12:10:21.66</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1561&#31;reute
u f BC-GENCORP-SUES-GENERAL   03-23 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP SUES GENERAL PARTNERS</TITLE>
<DATELINE>    AKRON, OHIO, March 23 - </DATELINE><BODY>Gencorp Inc said it filed suit
against the unsolicited 100 dlr-a-share tender offer of Wagner
and Brown and AFG INdustries.
    Gencorp said it is seeking an injunction against the offer
because it is violates federal securities laws and margin
regulations.
    Gencorp also said its board is carefully studying the offer
and will make a decision on whether or not shareholders should
accept or reject it by March 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13883" NEWID="8362">
<DATE>23-MAR-1987 12:10:50.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1565&#31;reute
r f BC-BIOTECHNOLOGY-&lt;BIOD>   03-23 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>BIOTECHNOLOGY &lt;BIOD> EXTENDS WARRANTS</TITLE>
<DATELINE>    NEWTON, Mass, March 23 - </DATELINE><BODY>Biotechnology Development Corp
said its board extended its Class A common stock purchase
warrants by six months.
    The warrants were due to expire June 5 and will now expire
on December 5, 1987.
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13884" NEWID="8363">
<DATE>23-MAR-1987 12:11:07.44</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>ireland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1568&#31;reute
r f BC-IRISH-INDUSTRIAL-PROD   03-23 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>IRISH INDUSTRIAL PRODUCTION INDEX UP 6.2 PCT</TITLE>
<DATELINE>    DUBLIN, March 23 - </DATELINE><BODY>Ireland's industrial production index
stood at 132.8 in December, a year-on-year rise of 6.2 pct, the
Central Statistics Bureau reported.
    In November the index, base 1980, stood at 144.8, showing a
rise of 4.3 pct on a year-on-year basis.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13885" NEWID="8364">
<DATE>23-MAR-1987 12:11:11.24</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;f1569&#31;reute
d f BC-NEW-BRUNSWICK-SCIENTI   03-23 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW BRUNSWICK SCIENTIFIC CO INC &lt;NBSC> 4TH QTR</TITLE>
<DATELINE>    EDISON, N.J., March 23 -
    </DATELINE><BODY>Shr 22 cts vs six cts
    Net 819,000 vs 201,000
    Revs 9.3 mln vs 7.7 mln
    Year
    Shr 40 cts vs 20 cts
    Net 1.5 mln vs 728,000
    Revs 31.5 mln vs 26.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13886" NEWID="8365">
<DATE>23-MAR-1987 12:11:18.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1570&#31;reute
d f BC-COLOROCS-&lt;CLRX>-TO-BE   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOROCS &lt;CLRX> TO BE ISSUED U.S. PATENT</TITLE>
<DATELINE>    NORCROSS, Ga., March 23 - </DATELINE><BODY>Colorocs Corp said it has been
notified the company's first patent for "Improved Print Engine
for Color Electrophotography" has been granted and will be
issued tomorrow.
    The company said the patent embodies discoveries made that
enabled it to develop its proprietary full color print engine
which will be applied to copiers, computer printers and
facsimile equipment. The first product to embody the technology
is a full color copier which will be manufactured for Colorocs
by &lt;Sharp Corp>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13887" NEWID="8366">
<DATE>23-MAR-1987 12:12:15.94</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;f1575&#31;reute
d f BC-INTELLIGENT-BUSINESS   03-23 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>INTELLIGENT BUSINESS &lt;IBCC> 1ST QTR JAN 31</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., March 23 -
    </DATELINE><BODY>Shr three cts vs nil
    Net 328,112 vs 6,374
    Revs 1,401,155 vs 846,253
    NOTE: Full name is Intelligent Business Communications Corp
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13888" NEWID="8367">
<DATE>23-MAR-1987 12:12:55.24</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1578&#31;reute
d f BC-principal-neo-tech-se   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>PRINCIPAL NEO-TECH SELLS UNIT</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>&lt;Principal Neo-Tech Inc> said it
completed the sale of its subsidiary, Neo-Tech Inc, to Seismic
Holdings Inc and Energy Holdings Inc, of Denver, Colo.
    As part of the price, Principal Neo-Tech received notes and
preferred shares of Energy Holdings. However, terms were not
disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13889" NEWID="8368">
<DATE>23-MAR-1987 12:13:22.47</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1580&#31;reute
b f BC-******CHARTER-FEDERAL   03-23 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CHARTER FEDERAL, JEFFERSON SAVINGS AGREE TO MERGE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13890" NEWID="8369">
<DATE>23-MAR-1987 12:14:42.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>herrington</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1588&#31;reute
d f BC-DOE-MAKES-ACID-RAIN-C   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>DOE MAKES ACID RAIN CLEANUP SOLICITATION</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Department of Energy said it is
soliciting companies for innovative clean coal technologies as
part of President Reagan's acid rain initiative.
    Energy Secretary John Herrington said the 850 mln dlr
solicitation is tailored to attract industry proposals for
advanced pollution control devices that can be installed on
existing coal-fired power plants.
    Companies submitting the new technologies would need to at
least match the federal funding share if their concept is
selected, the DOE said. Herrington said he will appoint a
senior panel to advise on the technologies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13891" NEWID="8370">
<DATE>23-MAR-1987 12:15:41.78</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;f1594&#31;reute
d f BC-PHH-&lt;PHH>-BUYS-TWO-DE   03-23 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>PHH &lt;PHH> BUYS TWO DESIGN FIRMS</TITLE>
<DATELINE>    HUNT VALLEY, MD, March 23 - </DATELINE><BODY>PHH Group Inc said it acquired
two design firms for undisclosed terms.
    In 1986, the two firms, Neville Lewis Associates of New
York and Walker Associates Inc of L.A., produced 15.6 mln dlrs
in total fees.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13892" NEWID="8371">
<DATE>23-MAR-1987 12:16:15.64</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;f1596&#31;reute
r f BC-MERRILL-&lt;MER>-SELLS-N   03-23 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>MERRILL &lt;MER> SELLS NEW ZEALAND DLR NOTES</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Merrill Lynch and Co Inc is offering
in the domestic debt market 75 mln dlrs of New Zealand
dollar-denominated notes due 1988, said sole manager Merrill
Lynch Capital Markets.
    The notes were assigned a 20 pct coupon and priced at par
to yield 150 basis points below comparable New Zealand rates.
    Non-callable for life, the issue is rated A-1 by Moody's
and AA by Standard and Poor's Corp. The notes have an annual
interest coupon instead of paying interest semi-annually,
Merrill said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13893" NEWID="8372">
<DATE>23-MAR-1987 12:19:29.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1613&#31;reute
r f BC-MITSUBISHI-RAISES-TRU   03-23 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>MITSUBISHI RAISES TRUCK PRICES 1.1 PCT</TITLE>
<DATELINE>    FOUNTAIN VALLEY, CALIF., March 23 - </DATELINE><BODY>&lt;Mitsubishi Motor Sales
of America Inc> said it is increasing suggested retail prices
of its line of two- and four-wheel drive trucks by an average
1.1 pct, or an average of 74 dlrs, effective immediately.
    It said price increases range from 0.6 pct, or 40 dlrs, on
the Mighty Max two-wheel drive truck to 1.9 pct, or 190 dlrs,
on the four-wheel-drive SPX.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13894" NEWID="8373">
<DATE>23-MAR-1987 12:22:53.92</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f1622&#31;reute
u f BC-******CHARTER-FEDERAL   03-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>CHARTER FEDERAL &lt;CHFD>, JEFFERSON TO MERGE</TITLE>
<DATELINE>    BRISTOL, Va, March 23 - </DATELINE><BODY>Charter Federal Savings and Loan
Association of Bristol, Va., said it has agreed to acquire
Jefferson Savings and Loan Association of Warrenton, Va.
    Under terms of the transaction, which would result in a 1.3
billion dlr thrift institution, stockholders of Jefferson will
get 30.50 dlrs per share, half in cash and half in shares of
Charter.
    The resulting association will operate under the name of
Charter and will be based in Bristol.
    The transaction is valued at about 16.3 mln dlrs, a
Jefferson spokesman said.
    Charter said the merger is subject to approval of the
Federal Home Loan Bank Board.
    Jefferson reported a 1.5 mln dlrs loss and assets of 360
mln dlrs for the year ended September 30, 1986.
    For the year ended June 30, Charter reported net income of
7.9 mln dlrs. Assets totaled about 844.0 mln dlrs as of
December 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13895" NEWID="8374">
<DATE>23-MAR-1987 12:23:36.23</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f1623&#31;reute
d f BC-TRADE-PROPOSES-NEW-EC   03-23 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>TRADE PROPOSES NEW EC GRAIN INTERVENTION RULES</TITLE>
<DATELINE>    BRUSSELS, March 23 - </DATELINE><BODY>The European Community (EC) cereals
trade lobby organisation Coceral said it has written to EC Farm
Commissioner Frans Andriessen to propose a new system for sales
into intervention, which it claims could save the EC budget
money.
    It proposes that applications for intervention be made
through a certificate valid for execution three months later.
If during the three months the trader found a market elsewhere,
he could buy back the certificate on payment of a one pct
premium.
    Coceral argues that this would restore the original
function of intervention as a safety net and would end the
present situation in which produce is often sold into
intervention as a precaution.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13896" NEWID="8375">
<DATE>23-MAR-1987 12:27:00.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1630&#31;reute
b f BC-COMMUNAUTE-URBAINE-DE   03-23 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMUNAUTE URBAINE DE MONTREAL ISSUES NOTES</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Communaute Urbaine de Montreal is
issuing a 75 mln Canadian dlr bond due April 22, 1997 carrying
a coupon of 8-7/8 pct and priced at 101-5/8, Banque Nationale
de Paris said as lead manager.
    The notes are available in denominations of 1,000 and
10,000 dlrs and will be listed on the Luxembourg Stock
Exchange. Payment date is April 22, 1987. The issuers'
outstanding securities are rated A-plus by Standard and Poor's
Corp.
    There is a 1-1/4 pct selling concession and 5/8 combined
management and underwriting fee.
 REUTERS
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13897" NEWID="8376">
<DATE>23-MAR-1987 12:29:48.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1645&#31;reute
d f BC-LOPAT-&lt;LPAT>-NAMES-WE   03-23 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>LOPAT &lt;LPAT> NAMES WEST COAST DISTRIBUTOR</TITLE>
<DATELINE>    WANAMASSA, N.J., March 23 - </DATELINE><BODY>Lopat Industries Inc said &lt;BKK
Inc>'s Falcon Disposal Service Inc has agreed to become the
exclusive distributor of Lopat's K-20 toxic waste clean up
products in 12 western states.
    Lopat said Falcon's sales specified under the agreement are
targeted at 43 mln dlrs over the next 54 months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13898" NEWID="8377">
<DATE>23-MAR-1987 12:32:00.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1649&#31;reute
h f BC-CHRONAR-&lt;CRNR>-GETS-C   03-23 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRONAR &lt;CRNR> GETS CONTRACT</TITLE>
<DATELINE>    PRINCETON, N.J., March 23 - </DATELINE><BODY>Chronar Corp said it was
awarded a contract from Solar Energy Research INsitute, a U.S.
Department of Energy laboratory, to perform research on
amorphous silicon photvoltaic cells and submodules.
    The three-year research program is valued at 9.4 mln dlrs,
with the costs to be shared equally by Chronar and the
institute.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13899" NEWID="8378">
<DATE>23-MAR-1987 12:32:21.67</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;f1651&#31;reute
s f BC-LOWE'S-COS-INC-&lt;LOW>   03-23 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>LOWE'S COS INC &lt;LOW> QTLY DIV</TITLE>
<DATELINE>    NORTH WILKESBORO, N.C., March 23 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Payable April 30
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13900" NEWID="8379">
<DATE>23-MAR-1987 12:32:35.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>lebanon</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1652&#31;reute
u f BC-GROUP-SAYS-U.S.-HOSTA   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>GROUP SAYS U.S. HOSTAGE ILL, OFFERS SWAP</TITLE>
<DATELINE>    BEIRUT, March 23 - </DATELINE><BODY>Kidnappers of four professors, three
American and one Indian, said U.S. Hostage Alann Steen was ill
and offered to free him in exchange for a hundred detainees in
Israel.
    "U.S. Spy Alann Steen began to suffer from illness, his
health might deteriorate and he might die in 10 days," said a
hand-written statement by Islamic Jihad for the Liberation of
Palestine delivered to Beirut's independent An-Nahar newspaper.
    "Our humanitarian motives require that we free him for 100
detainees in the occupation jails," said the statement, which
was accompanied by a photograph of Steen.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13901" NEWID="8380">
<DATE>23-MAR-1987 12:37:28.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1681&#31;reute
w f BC-TOLL-BROTHERS-&lt;TOL>-O   03-23 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>TOLL BROTHERS &lt;TOL> OPENS NEW ENGLAND OFFICE</TITLE>
<DATELINE>    HORSHAM, PA, March 23 - </DATELINE><BODY>Toll Brothers Inc said it formed a
New England divisional office, which will be located in
Hopkinton, Mass.
    The office will open April 15. The company said the new
office opening underscores its commitment to establishing a
position throughout the Northeast corridor.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13902" NEWID="8381">
<DATE>23-MAR-1987 12:39:04.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1686&#31;reute
u f BC-HARTFORD-FIRE-&lt;HIG>-T   03-23 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>HARTFORD FIRE &lt;HIG> TO OFFER PREFERRED</TITLE>
<DATELINE>    HARTFORD, Conn, March 23 - </DATELINE><BODY>Hartford Fire Insurance Co said
it filed a registration statement with the Securities and
Exchange Commission relating to up to 210 mln dlrs aggregate of
Class C and Class D Preferred stock.
    Proceeds from any of the stock will be used towards the
redemption of its Class A preferred Stock, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13903" NEWID="8382">
<DATE>23-MAR-1987 12:39:30.58</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1687&#31;reute
f f BC-FRENCH-13-WEEK-T-BILL   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH 13-WEEK T-BILL AVERAGE RATE FALLS TO 7.37 PCT FROM 7.46 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13904" NEWID="8383">
<DATE>23-MAR-1987 12:41:52.12</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;f1695&#31;reute
d f BC-HAHN-SAYS-VW-EQUAL-TO   03-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>HAHN SAYS VW EQUAL TO CURRENCY SCANDAL CHALLENGE</TITLE>
<DATELINE>    WOLFSBURG, West Germany, March 23 - </DATELINE><BODY>Volkswagen AG &lt;VOWG.F>
managing board chairman Carl Hahn said the company was equal to
the challenge of overcoming potential losses from allegedly
fraudulent currency transactions.
    He said the potential losses of 480 mln marks were a
setback for VW but added the company's past conservative
financial management meant VW was up to the challenge.
    VW would not cut back on investment or fringe benefits
because of the possible currency losses, he told workers in a
speech before driving the 50 millionth vehicle produced by VW
off the assembly line.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13908" NEWID="8384">
<DATE>23-MAR-1987 12:42:33.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1698&#31;reute
u f BC-WELLCOME-SETS-UP-RETR   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>WELLCOME SETS UP RETROVIR DISTRIBUTION SYSTEM</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>&lt;Burroughs Wellcome Co> said it has
set up a distribution system to ensure the people in most need
can get Retrovir, the first drug shown to have activity against
AIDS, during an initial period while supplies of the drug are
limited.
    At a press conference here, Paul Dreyer, the company's
product manager for the drug, said physicians must submit an
enrollment application to the company for each new patient who
is a candidate for taking the drug.
    The company is the U.S. arm of Wellcome Plc.
    The application will list several items required to
evaluate a patient. The company will inform doctors within one
week if a patient meets enrollment criteria and whether there
are sufficient amounts of the drug available.
    On Friday, the Food and Drug Administration approved the
drug for wide clinical use. The drug is not a cure for AIDS,
but it does prolong the lives of certain people with AIDS, who
have a history of certain types of pneumonia, and patients with
an advanced form of AIDS-related complex whose immune systems
have declined after infection with the virus.
    The company said it only has enough supply of the drug to
treat 15,000 patients and by the end of the year should have
enough supply to treat 30,000 patients.
    Dreyer said physicians can call 1-800-843-9388 for
information about distribution of the drug, and pharmacists can
call 1-800-322-1887 to place orders for the drug.
    Dreyer added this distribution system will end once an
adequate supply of the drug is available.
    Thomas Kennedy, vice president of corporate affairs,
declined to comment on the cost of developing the drug.
    Some organizations have criticized the high cost of the
drug, which is said to be between 7,000 and 10,000 dlrs per
year for treatment. Dreyer said it took seven months to make
the drug, and the company obtained the principal raw material
from Pfizer Inc &lt;PFE>.
    Dryer said the company is developing other suppliers.
    The company said it spent 80 mln dlrs for the raw materials
for the drug and an undisclosed amount on research, but would
not disclose the total cost of developing Retrovir.
    Burroughs has cited the high cost of making the drug as one
of the reasons for its cost.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13905" NEWID="8385">
<DATE>23-MAR-1987 12:42:51.47</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1700&#31;reute
f f BC-******SEC-FINDS-SEPTE   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SEC FINDS SEPTEMBER 11-12 U.S. STOCK MARKET DROP NOT DUE TO INDEX TRADING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13906" NEWID="8386">
<DATE>23-MAR-1987 12:43:00.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f1701&#31;reute
d f BC-TANDY-BRANDS-&lt;TAB>-PL   03-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TANDY BRANDS &lt;TAB> PLACES CONVERTIBLE NOTES</TITLE>
<DATELINE>    FORT WORTH, Texas, March 23 - </DATELINE><BODY>Trandy Brands Inc said 8.0
mln dlrs of 8.5 pct, 10-year subordinated convetible notes were
placed with a private institutional investor by Goldman Sachs
and Co.
    Tandy Brands also said it completed a new two year credit
agreement Citicorp's &lt;CCI> Citibank and MCorp's &lt;M> MBank Fort
Worth providing working capital lines and letters of credit of
15 mln dlrs in year one and 21 mln dlrs in year two.
    Tandy Brands said the notes are convertible at 10 dlrs a
share, noting a previous announcement the price was negotiated
when the company's common was trading at 7.75 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13907" NEWID="8387">
<DATE>23-MAR-1987 12:43:13.38</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1703&#31;reute
f f BC-******COCA-COLA-SPOKE   03-23 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COCA COLA SPOKESMAN SAID RUMORS COKE SEEKING TAKEOVER OF WENDY'S ARE NOT CORRECT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13909" NEWID="8388">
<DATE>23-MAR-1987 12:46:47.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1711&#31;reute
h f BC-COMPUTER-DEVICES-INC   03-23 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER DEVICES INC 4TH QTR</TITLE>
<DATELINE>    NUTTING LAKE, Mass, March 23 -
    </DATELINE><BODY>Shr loss one cnt vs profit one cnt
    Net loss 35,000 vs profit 42,000
    Revs 881,000 vs 1.3 mln
    Year
    Shr profit seven cts vs profit nine cts
    Net profit 291,000 vs profit 366,000
    Revs 4.4 mln vs 5.9 mln
    NOTE:1985 4th qtr and year includes gain of 7,000 dlrs and
147,000 dlrs respectivley. 1986 year includes gain of 35,000
dlrs from tax loss carryforwards.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13910" NEWID="8389">
<DATE>23-MAR-1987 12:46:57.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1712&#31;reute
d f BC-ROSTENKOWSKI-URGES-HO   03-23 0129</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSTENKOWSKI URGES HONESTY IN FUTURES INDUSTRY</TITLE>
<DATELINE>    BOCA RATON, Fla., March 23 - </DATELINE><BODY>House Ways and Means Committee
Chairman Dan Rostenkowski (D-Ill.) said Congress would more
readily respond to the needs of the U.S. futures industry to be
internationally competitive if the industry showed a
willingness to do its business honestly.
    Rostenkowski told the Futures Industry Association that if
other countries were relaxing futures regulations "because ours
are being tightened, so that they can take a competitive
advantage, I think we (Congress) have a responsibility to keep
you out in front."
    But he told the futures leaders that they "have a more
important reponsibility to do your business honestly. You can't
ignore the trader who is improperly using his opportunity."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13911" NEWID="8390">
<DATE>23-MAR-1987 12:52:04.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1730&#31;reute
u f BC-YUGOSLAVIA-SEEKS-TWO   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>YUGOSLAVIA SEEKS TWO BILLION DLR REFINANCING</TITLE>
<DATELINE>    BELGRADE, March 23 - </DATELINE><BODY>Deputy Prime Minister Janez Zemljaric,
speaking before a meeting with the Paris Club of creditor
nations, said Yugoslavia was seeking to refinance two billion
dlrs of debt.
    The official Tanjug news agency quoted Zemljaric as saying
Yugoslavia expected a "definite measure of understanding" from 16
western creditor countries when they meet on March 30.
    Zemljaric was not quoted as saying whether the two billion
dlrs referred to principal or interest or both. Yugoslavia's
hard currency debt stands between 19 and 20 billion dlrs.
    Zemljaric said the International Monetary Fund criticised
Yugoslavia for not regulating consumption, not having real
interest rates or market exchange rates, for its inability to
control monetary policy and slow pace of reform.
    He said the criticisms were in a report by an IMF
commission which visited Yugoslavia last December and January.
    "We cannot accept this assessment because we have made not
inconsiderable progress under difficult conditions, even though
we are aware of our own weaknesses," Zemljaric said.
    He said the report favourably assessed some trends in the
Yugoslav economy but did not say which.
    Milos Milosavljevic, also a Deputy Prime Minister, said
last Friday that Yugoslavia had repaid 640 mln dlrs of
principal and 325 mln dlrs of interest so far in 1987.
    According to official Yugoslav figures, Yugoslavia repaid a
record 5.97 billion dlrs in capital and interest in 1986.
    In an interview with the West German weekly magazine Der
Spiegel, Prime Minister Branko Mikulic said last weekend
Yugoslavia had repaid 28.3 billion dlrs in principal and
interest between 1981 and 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13912" NEWID="8391">
<DATE>23-MAR-1987 12:53:00.42</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1737&#31;reute
r f BC-DUCOMMON-INC-&lt;DCO>-4T   03-23 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>DUCOMMON INC &lt;DCO> 4TH QTR LOSS</TITLE>
<DATELINE>    CYPRESS, Calif., March 23 -
    </DATELINE><BODY>Oper shr loss 5.60 dlrs vs loss 1.10 dlrs
    Oper net loss 18,688,000 vs loss 3,662,000
    Sales 107.3 mln vs 108.7 mln
    Year
    Oper shr loss 5.76 dlrs vs loss 98 cts
    Oper net loss 19,213,000 vs loss 3,263,000
    Sales 455.2 mln vs 417.0 mln
    Note: Prior qtr and year figures exclude losses from
discontinued operations of 279,000 dlrs and 555,000 dlrs,
respectively and respective losses on sale of discontinued
operations of 14.6 mln dlrs and 15.9 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13913" NEWID="8392">
<DATE>23-MAR-1987 12:55:25.03</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;f1744&#31;reute
b f BC-/INDEX-TRADING-NOT-TO   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>INDEX TRADING NOT TO BLAME FOR WALL STREET FALL</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>A report by the U.S. Securities and
Exchange Commission (SEC) concluded that index trading was not
to blame for the two-day stock market drop that occurred Sept.
11-12, 1986
    The report, made public today, concluded that index trading
magnified but was not the cause of last fall's two-day
120-point drop in the Dow Jones Industrial Index.
    The commission staff said it planned to continue to closely
monitor developments in index-related trading but planned no
immediate regulatory action as a result of the precipitous
stock market decline.
    "The magnitude of the September decline was a result of
changes in investors' perceptions of fundamental economic
conditions, rather than artifical forces arising from
index-related trading strategies," the report said.
    "Nevertheless, index-related futures trading was
instrumental in the rapid transmission of these changed
investor perceptions to individual stock prices, and may have
condensed the time period in which the decline occurred."
    The SEC staff concluded its study "does not provide an
independent basis to conclude that radical regulatory or
structural changes are necessary at this time."
    The report said "the dramatic growth in the size and
institutional use of index products requires continued careful
analysis of the potential for disruption of the stock market as
well as manipulative or other inappropriate trading in the
index products and their component stocks."
    It said there "may be merit" to requiring additional
reporting and record keeping procedures for index-related
trading. But it added that the SEC staff has not yet considered
the costs and benefits of the various alternatives.
    The report does not deal with a second precipitous dip in
the market which occurred Jan. 23.
    On that day, the Dow Jones Industrial Average dropped 115
points in little more than an hour.
    The SEC said its staff was still analyzing the underlying
causes of that price decline and had not yet made findings.
    The SEC study was made after a number of investors, news
reports and other analysts blamed the Sept. 11-12 drop on
so-called "program trading," in which computers rapidly execute
complex trading strategies designed to profit from minute
changes in the relationship between the price of stock index
futures and the stocks that make up the index.
    The investors and analysts complained that such rapid
movements in the stock market would drive small investors out
of the market and possible even lead to a stock market crash.
    But the SEC report said the possibility of a market
collapse was "remote."
    It said it believed any rapid stock price decline "likely"
would eventually be reversed by renewed buying as prices
reached far lower levels.
    It also argued that index futures and options are important
to traders who use them to hedge their market positions and
lessen risk exposure.
    "While a 'cascade effect' may be possible as a result of
index-related trading, it did not ocur on Sept. 11 and 12," the
report concluded.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13914" NEWID="8393">
<DATE>23-MAR-1987 12:55:37.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1746&#31;reute
d f BC-PRE-PAID-LEGAL-&lt;PD>-E   03-23 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>PRE-PAID LEGAL &lt;PD> ENTERS WASHINGTON MARKET</TITLE>
<DATELINE>    ADA, Okla., March 23 - </DATELINE><BODY>Pre-Paid Legal Services Inc said it
will start marketing its Pre-Paid Legal Services contract in
the state of Washington today.
    It said it is now doing business in 23 states.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13915" NEWID="8394">
<DATE>23-MAR-1987 12:55:52.98</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;f1747&#31;reute
r f BC-MEM-COM-INC-&lt;MEM>-4TH   03-23 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>MEM COM INC &lt;MEM> 4TH QTR NET</TITLE>
<DATELINE>    NORTHVALE, N.J., March 23 -
    </DATELINE><BODY>Oper shr 93 cts vs 32 cts
    Oper net 2,443,810 vs 847,609
    Revs 30.3 mln vs 21.0 mln
    12 mths
    Oper shr 1.16 dlrs vs 85 cts
    Oper net 3,066,407 vs 2,250,781
    Revs 70.9 mln vs 61.8 mln
    NOTE: qtr 1985 excludes gain 96,327 dlrs for discontinued
operations of Lebanon Packaging.
    Year 1986 and year prior excludes loss 62,216 dlrs, and
gain 281,367 dlrs, respectively, for discontinued operations on
Lebanon sale.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13916" NEWID="8395">
<DATE>23-MAR-1987 12:56:45.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1753&#31;reute
d f BC-VENTRA,-MODULAR-FORM   03-23 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>VENTRA, MODULAR FORM JOINT VENTURE</TITLE>
<DATELINE>    HIALEAH, Fla., March 23 - </DATELINE><BODY>&lt;Ventra Management Inc> said it
has formed a joint venture that it will manage to provide lease
financing for &lt;Modular Computer Systems Inc>
    Ventra said it will fund leases with the proceeds of a 60
mln dlr leasing equipment receivable bond offering underwritten
by Mabon, Nugent and Co.  It said the venture has already
generated about 10 mln dlrs in computer leases.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13917" NEWID="8396">
<DATE>23-MAR-1987 12:58:06.60</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;f1757&#31;reute
b f BC-COCA-COLA-&lt;KO>-SAYS-R   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>COCA COLA &lt;KO> SAYS RUMORS INCORRECT</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>A Coca Cola Co spokesman said rumors
the company is interested in acquiring Wendy's International
&lt;WEN> are not true.
    "Those rumors are not correct," said Carlton Curtis, an
assistant vice president at Coke. "We have stated many times
that Coca Cola Co has no interest in an acquisition in the food
service industry and thereby becoming a competitor to our food
service customers."
    Wendy's stock has been flying high on the rumors for two
days. Today, Wendy's hit a high of 13-3/8 before dropping back
to 12-3/8, up 5/8 in heavy trading.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13918" NEWID="8397">
<DATE>23-MAR-1987 13:03:44.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1781&#31;reute
d f BC-AMALGAMATED-OFFERS-UN   03-23 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>AMALGAMATED OFFERS UNIONS BELOW-MARKET MORTGAGES</TITLE>
<DATELINE>    NEDW YORK, March 23 - </DATELINE><BODY>Amalgamated Bank of New York said
three locals of the Iron Workers Union will invest a portion of
their pension funds in below-market, no-points
Amalgamated-written home mortgages for members.
    The bank is owned by the Amalgamated Clothing and Textile
Workers Union.
    It said about 18 mln dlrs has been set aside for the
program and loans of up to 150,000 dlrs will be offered in
fixed-rate and adjustable form.  The bank said if the program
is successful, there will probably be a substantial increase in
its funding, and it would expect other unions to look into the
possibility of initiating programs for their own members.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13919" NEWID="8398">
<DATE>23-MAR-1987 13:03:57.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1783&#31;reute
d f BC-SURVIVAL-TECHNOLOGY-&lt;   03-23 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>SURVIVAL TECHNOLOGY &lt;SURV> GETS CONTRACT</TITLE>
<DATELINE>    BETHESDA, Md., March 23 - </DATELINE><BODY>Survival Technology Inc said it
has received a U.S. Defense Department contract with a ceiling
price of 14.4 mln dlrs for the produyction of ComboPen
automatic injectors and Mark I Antidote Kits for the
self-administration of antidotes to chemical warfare under
combat conditions.
    It said deliveries are expected to start this month and be
completed by August.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13920" NEWID="8399">
<DATE>23-MAR-1987 13:04:56.09</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;f1789&#31;reute
h f BC-SWEET-VICTORY-INC-&lt;SV   03-23 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEET VICTORY INC &lt;SVIC> YEAR</TITLE>
<DATELINE>    NEW YORK, March 23 -
    </DATELINE><BODY>Shr loss 1.16 dlrs vs loss 61 cts
    Net loss 3.5 mln vs loss 1.3 mln
    Revs 943,938 dlrs vs 480,333 dlrs
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13921" NEWID="8400">
<DATE>23-MAR-1987 13:15:06.24</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1822&#31;reute
d f BC-PORTUGUESE-GRAIN-AGEN   03-23 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGUESE GRAIN AGENCY BAN OPPOSED BY MINISTER</TITLE>
<DATELINE>    LISBON, March 23 - </DATELINE><BODY>Portugal's Agriculture Minister Alvaro
Barreto said he disagreed with a court order barring the state
grain buying agency EPAC from taking part in cereals import
tenders open to private traders.
    Barreto told reporters his aim was to have EPAC readmitted
to the tenders.
    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.
    Following legal proceedings by private importers, Lisbon's
civil court decided in a preliminary ruling earlier this month
that EPAC should not be allowed to take part, as it had done,
in tenders for the liberalised share of annual grain imports.
    As a result of this ruling, EPAC was excluded from a March
12 tender for the import of 80,000 tonnes of maize.
    Barreto said, "My objective is put EPAC into the tenders
because it has a right to take part." He added the government
would be studying the court order to see whether or not the
ruling could stop EPAC from participating in future tenders.
    Barreto said there was no reason to exclude any operator,
whether public or private, from the tenders. Private traders
had argued that EPAC, given its dominant position in the
Portuguese grain market, had an unfair advantage over them.
    "There is no reason to make EPAC a martyr of the system,"
Barreto said. He said the EC's executive commission had
accepted the government's view that EPAC should be eligible.
    The Lisbon court ruling stated that EPAC's participation in
the public tenders was unfair competition and violated the
clauses of Portugal's EC accession treaty dealing with the
gradual dismantling of the state agency's import monopoly.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13922" NEWID="8401">
<DATE>23-MAR-1987 13:24:57.08</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1847&#31;reute
d f BC-STANDARD-FEDERAL-&lt;SFB   03-23 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD FEDERAL &lt;SFB> OFFERS ZERO-POINT LOAN</TITLE>
<DATELINE>    TROY, Mich, March 23 - </DATELINE><BODY>Standard Federal Bank said it
introduced a zero-point fixed rate mortgage loan.
    The loan program offers borrowers home mortgage financing
with no discount fees charged.
    Standard said that fees charged will include an application
fee, commitment fee and out-of-pocket expenses such as title
work, survey, recording fees and private mortgage insurance.
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13923" NEWID="8402">
<DATE>23-MAR-1987 13:25:13.50</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1849&#31;reute
u f AM-IRAQ-OIL   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>IRAQ OIL MINISTER QASSEM AHMED TAQI REPLACED, IRAQI NEWS AGENCY REPORTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13924" NEWID="8403">
<DATE>23-MAR-1987 13:26:34.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1853&#31;reute
r f BC-ATKINSON'S-&lt;ATKN>-CAN   03-23 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>ATKINSON'S &lt;ATKN> CANADA UNIT GETS CONTRACT</TITLE>
<DATELINE>    SAN FRANCISCO, March 23 - </DATELINE><BODY>Guy F. Atkinson Co of California
said its Commonwealth Construction Co unit received a 110 mln
dlr contract covering construction of a paper machine for St.
Mary's Paper Inc of Ontario, Canada.
    The company said project startup is scheduled for April
1987 with completion expected in December 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13925" NEWID="8404">
<DATE>23-MAR-1987 13:28:10.67</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;f1858&#31;reute
r f BC-DE-HAVILLAND,-SHORT-M   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>DE HAVILLAND, SHORT MAY MOVE ON PLANE THIS YEAR</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>Boeing Co (BA)'s wholly owned De
Havilland Aircraft Co of Canada Ltd and &lt;Short Brothers PLC>,
of Northern Ireland said they might decide later this year
whether to launch a joint commuter/regional aircraft program.
    It said a program launch would lead to service entry for
the new aircraft in 1991.
    "Provided the ongoing market and detailing design
configuration studies confirm demand and project viability, a
decision to launch a joint program could be taken later this
year," said the companies, which agreed last autumn to a
12-month assessment of a new generation transport aircraft.
    De Havilland and Short Brothers said they agreed to the
basic parameters of the new aircraft, which they said would be
aimed at the low end of the passenger range.
    They declined to speculate on engine selection for the
plane, but said several competitive powerplants were available.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13926" NEWID="8405">
<DATE>23-MAR-1987 13:29:09.00</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y RM
&#22;&#22;&#1;f1862&#31;reute
r f BC-IRAQI-OIL-MINISTER-RE   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQI OIL MINISTER REPLACED - OFFICIAL</TITLE>
<DATELINE>    BAGHDAD, March 23 - </DATELINE><BODY>Iraq's Oil Minister Qassem Ahmed Taqi
has been moved to the Heavy Industries ministry, the official
Iraqi news agcny INA said tonight.
    It quoted a Presidential decree appointing Oil Ministry
undersecretary Isam Abdul-Rahim Al-Chalaby as the new Oil
Minister.
    The Ministers of Industry and Communication and Transport
had both been relieved of their posts, the news agency said.
    No immediate explanation was given for the changes.
    Al-Chalaby is the head of the Iraqi National Oil Company.
    INA said the decree, signed by President Saddam Hussein,
relieved the Minister of Heavy Industries, Subhi Yassin Khadeir
of his post and appointed him a Presidential adviser.
    His ministry was formerly known as the Industry and Mineral
Resources Ministry. The Minister of Communications and
Transport, Abdel-Jabbar Abdel-Rahim al-Asadi was also relieved
of his post and replaced by a member of the ruling Baath party
regional command, Mohammed Hamza al-Zubeidi. Al-Zubedei is also
a Presidential adviser. All three ministers involved in the
reshuffle had spent more than four years in their posts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13927" NEWID="8406">
<DATE>23-MAR-1987 13:30:26.41</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1868&#31;reute
u f BC-ALLEGHENY-&lt;AI>-SUED-O   03-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGHENY &lt;AI> SUED OVER PROPOSED BUYOUT</TITLE>
<DATELINE>    PITTSBURGH, March 23 - </DATELINE><BODY>Allegheny International Inc said it
and First Boston Inc's &lt;FBC> Sunter Holdings Corp subsidiary
have been named as defendants in a class action filed in the
Court of Common Pleas for Allegheny County, Pa., which seeks an
injunction against Allegheny's proposed merger into Sunter.
    The company said its board and some former directors and
First Boston were also named as defendants.
    It said it and Sunter intend to vigorously oppose the
action.
    Allegheny said the class action suit alleges the price to
be paid in the transaction is grossly unfair. The company said
the suit's allegations are similar to those contained in an
earlier federal court suit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13928" NEWID="8407">
<DATE>23-MAR-1987 13:32:46.60</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;f1879&#31;reute
d f BC-ASTROCOM-CORP-&lt;ACOM>   03-23 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>ASTROCOM CORP &lt;ACOM> 4TH QTR NET</TITLE>
<DATELINE>    ST. PAUL, March 23 -
    </DATELINE><BODY>Shr one ct vs five cts
    Net 19,174 vs 118,671
    Revs 3,127,162 vs 2,936,330
    Year
    Shr eight cts vs 30 cts
    Net 198,290 vs 712,087
    Revs 12.4 mln vs 11.6 mln
    Avg shrs 2,603,588 vs 2,376,604
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13929" NEWID="8408">
<DATE>23-MAR-1987 13:33:16.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1883&#31;reute
d f BC-UNC-&lt;UNC>-GETS-16-MLN   03-23 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>UNC &lt;UNC> GETS 16 MLN DLR CONTRACT</TITLE>
<DATELINE>    ANNAPOLIS, March 23 - </DATELINE><BODY>UNC Inc said it has received a 16 mln
dlr contract from the U.S. Department of Energy for production
of naval propulsion system components.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13930" NEWID="8409">
<DATE>23-MAR-1987 13:33:37.98</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;f1887&#31;reute
d f BC-JUNO-LIGHTING-INC-&lt;JU   03-23 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>JUNO LIGHTING INC &lt;JUNO> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    DES PLAINES, ILL., March 23 -
    </DATELINE><BODY>Shr 43 cts vs 32 cts
    Net 1,991,000 vs 1,485,000
    Sales 11.7 mln vs 9,479,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13931" NEWID="8410">
<DATE>23-MAR-1987 13:34:07.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1889&#31;reute
d f BC-WASHINGTON-&lt;WWP>-REQU   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>WASHINGTON &lt;WWP> REQUESTED COMMISSION REVISION</TITLE>
<DATELINE>    SPOKANE, Wash, March 23 - </DATELINE><BODY>Washington Water Power Co said it
requested the Washington Utilities and Transportation
Commission to issue an accounting order which would revise the
current method of accounting for investment tax credits.
    Approval of the order would allow the company to apply tax
credits to earnings in 1987, 1988 and 1989 rather than
spreading those credits over a period of about 30 years under
the current method.
    A similar request was filed with the Idaho Public Utilities
commission in November of 1986 but hearings have been delayed
until later in 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13932" NEWID="8411">
<DATE>23-MAR-1987 13:35:21.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1895&#31;reute
r f BC-LSI-LOGIC-&lt;LLSI>-SETS   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>LSI LOGIC &lt;LLSI> SETS 100-MLN-DLR DEBT OFFER</TITLE>
<DATELINE>    MILPITAS, Calif., March 23 - </DATELINE><BODY>LSI Logic Corp said it intends
to offer 100 mln dlrs of convertible subordinated debentures
due 2002, outside the U.S., through Morgan Stanley
International and Prudential-Bache Capital Funding.
    The company said it is issuing the debentures with an
indicated coupon range of 5-3/4 pct to 6-1/4 pct and an
indicated conversion premium range of 24-26 pct.
    The debentures will be convertible into common stock
through the life of the bonds.
    The company said the debt is expected to be listed on the
Luxembourg Stock Exchange.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13933" NEWID="8412">
<DATE>23-MAR-1987 13:35:34.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1896&#31;reute
r f BC-CALABRIAN-BANK-PRESID   03-23 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>CALABRIAN BANK PRESIDENT ARRESTED FOR EMBEZZLEMENT</TITLE>
<DATELINE>    COSENZA, Italy, March 23 - </DATELINE><BODY>The president and five senior
managers of a publicly-owned Italian savings bank and the vice
president of another major Italian bank have been arrested on
embezzlement charges, police said.
    Nicola Calipari, head of Cosenza police investigation
section, told Reuters &lt;Cassa di Risparmio di Calabria e Luciana
- Carical> president Francesco Sapio and five managers were
arrested last night. Three others believed involved had also
been arrested, including Francesco Del Monte, vice president of
(Banca Nazionale del Lavoro), he said. Carical holds deposits
totalling some 6,000 billion lire.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13934" NEWID="8413">
<DATE>23-MAR-1987 13:35:45.16</DATE>
<TOPICS><D>grain</D><D>wheat</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;f1897&#31;reute
u f BC-U.S.-FARM-POLICY-DEBA   03-23 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FARM POLICY DEBATE COULD HIT SENATE SOON</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Senate this week might take up
proposed legislation that could serve as a lightning rod to
expose broad initiatives to change U.S. farm policy.
    The Senate could consider a House-passed bill that would
allow wheat and feedgrains farmers to receive at least 92 pct
of their income support payments if flooding last year
prevented, or will prevent, them from planting their 1987
crops, Senate staff members told Reuters.
    Also pending is a bill extend the life of the National
Commission on Dairy Policy.
    Sen. Rudy Boschwitz, R-Minn., intends to offer an amendment
to one of the bills that would suspend the minimum planting
requirement for all 1987 wheat, feedgrain, cotton and rice
producers, an aide said.
    Under current law, producers must plant at least 50 pct of
their base acreage to be eligible for 92 pct of their
deficiency payments.
    Most major U.S. farm groups have lobbied hard against
making any fundamental changes in the 1985 farm bill out of
fear a full-scale debate could expose agricultural problems to
budget-cutting pressures.
    Representatives of these farm groups have said they also
fear efforts by Midwestern Democrats to force a floor vote on a
bill that would require large acreage set-asides in return for
sharply higher support prices.
    However, Sen. Tom Harkin, D-Iowa, sponsor of the bill, told
Reuters he did not intend to offer his measure as a floor
amendment but to bring it through the committee.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13935" NEWID="8414">
<DATE>23-MAR-1987 13:37:51.61</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;f1903&#31;reute
u f BC-TEXACO-&lt;TX>-SAYS-IT-H   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXACO &lt;TX> SAYS IT HAS EVIDENCE OF JUDGE'S BIAS</TITLE>
<DATELINE>    WHITE PLAINS, N.Y., March 23 - </DATELINE><BODY>Texaco Inc said it has filed
a motion with the Texas Court of Appeals to supplement the
court record with new evidence it has just received of alleged
bias by Judge Anthony J.P. Farris against Texaco and its chief
trial lawyer in its litigation with Pennzoil Co &lt;PZL>.
    The company contended that the alleged bias provides clear
grounds for a new trial. It said the motion was filed in
connection with its appeal of the Pennzoil judgment pending in
that court.
    Texaco said the motion introduces two letters written by
Farris, who has since died, to two Houston lawyers in late
1984, after he had been assigned the case but before the trial
began.
    The company alleged that Farris harbored personal animosity
against Texaco and its chief trial lawyer, Richard B. Miller,
due to an earlier motion to have Farris disqualified from the
case. The motion was filed due to Farris' acceptance of a
10,000 dlr campaign contribution from Pennzoil's chief trial
lawyer, Joseph P. Jamail, shortly after the case was assigned
to him, Texaco said.
    In February the Texas Appellate Court refused to grant
Texaco a new trial, finding no evidence that Farris was biased.
    Texaco said it is preparing its application for a rehearing
on the merits of its case before the Texas Appelate Court, and
the application will be filed on March 30.
    The company said it will ask the court to reconsider its
decision on the issue of due process in light of the Farris
letters.
    In the suit, Pennzoil has been awarded about 10.53 billion
dlrs in damages from Texaco in connection with Pennzoil's
proposed merger with Getty Oil Co, which was later taken over
by Texaco. Texaco is appealing the ruling.
    A Texaco spokeswoman said the company had known of the
letters for some time but were unable to release them until now
due to understandings of confidentiality with the attorneys
from which they were secured.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13936" NEWID="8415">
<DATE>23-MAR-1987 13:42:17.13</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>itc</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1914&#31;reute
u f BC-TIN-PACT-SPECIAL-SESS   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>TIN PACT SPECIAL SESSION THIS WEEK ROUTINE</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>A further special session of the
International Tin Council, ITC, held here tomorrow, March 24,
will give member countries an update on the latest debate over
the hundreds of millions of sterling lost when its buffer stock
price support scheme failed in October 1985, delegates said.
    But the ITC quarterly session scheduled for April 8-9 will
be important, as the council will by then be wanting to decide
on whether the current pact should be extended beyond June 30
or just allowed to expire, delegates said. A two year extension
is possible.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13937" NEWID="8416">
<DATE>23-MAR-1987 13:48:59.74</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>itc</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M C
&#22;&#22;&#1;f1919&#31;reute
u f BC-/TIN-COUNCIL-WINDING-   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>TIN COUNCIL WINDING-UP VERDICT APPEALED</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Amalgamated Metal Trading, AMT, today
lodged an appeal against the ruling which prevented its
petition to wind up the International Tin Council, ITC.
    The verdict was given by Mr Justice Millett on January 22,
when AMT led an effort by ITC creditors to recover sums claimed
by banks and London Metal Exchange brokers as a result of the
collapse of the ITC's buffer stock operations in October 1985.
AMT had until March 26 to lodge its appeal.
    The grounds for the appeal are that the judge erred on
three points when giving his verdict, Michael Arnold, head of
the broker creditors group Tinco Realisations, told Reuters.
    The judge ruled that the U.K. Court had no jurisdiction to
wind up the Tin Council, that the ITC was not an association
within the meaning of the Companies Act, and that the
winding-up petition was not a proceeding in respect of an
arbitration award. AMT will contest all three points.
    The U.K. Companies Act allows the possibility of the
winding-up of what it defines as an association, and AMT will
argue that the Tin Council falls within this definition, Arnold
said.
    The ITC has immunity except for the enforcement of an
arbitration award, and thus it is important for AMT that the
court accepts that the winding-up petition represents a move to
enforce an arbitration ruling.
    The court originally decided that the winding-up petition
went wider than the enforcement of such a debt, an AMT
spokesman said.
    The appeal is unlikely to be heard for several months, but
a case brought by fellow ITC creditor Maclaine Watson is to be
heard on April 28. This is a move by the metal broker to have a
receiver appointed over the ITC's assets.
    Since similar arguments will be used in this case, it is
possible that any appeal in the Maclaine Watson case could be
consolidated with AMT's appeal, Arnold said.
    Other ITC creditors have brought direct actions against the
Council's member states and an application by the governments
to strike out the first of these, brought by J.H. Rayner
(Mincing Lane) Ltd, is to be heard on May 11.
    Shearson Lehman Brothers action against the LME's tin
"ring-out" in March 1986 is also scheduled to be heard in the
near future. The hearing date has now been put back slightly to
June 8.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13938" NEWID="8417">
<DATE>23-MAR-1987 13:51:33.90</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;f1923&#31;reute
r f BC-carling-o'keefe-joins   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>CARLING O'KEEFE&lt;CKB> JOINS STADIUM PROJECT</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>Carling O'Keefe Ltd, 50.1 pct owned by
&lt;Elders IXL Ltd>, said it agreed to contribute 5.0 mln Canadian
dlrs towards the 245 mln dlr cost of building a dome stadium in
Toronto.
    The company also said its wholly owned Toronto Argonauts of
the Canadian Football League signed a 10 year lease, including
an option for an additional five year term, to play its games
at the dome stadium.
    It did not disclose financial terms of the lease, but said
it was a "very competitive lease" compared to an existing
agreement with the Canadian National Exhibition stadium.
    Carling O'Keefe said its 5.0 mln dlr contribution to
Ontario Stadium Corp, which is undertaking construction and
fundraising for the dome stadium, includes a 3.5 mln dlr
donation and a 1.5 mln dlr payment for certain product and
advertising rights.
    Under the rights, the brewery will be able to use
advertising space and feature its products at events that the
company sponsors, Carling O'Keefe said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13939" NEWID="8418">
<DATE>23-MAR-1987 13:51:44.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1924&#31;reute
d f BC-MEDICAL-GRAPHICS-&lt;MGC   03-23 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDICAL GRAPHICS &lt;MGCC> CHAIRMAN RESIGNS</TITLE>
<DATELINE>    ST. PAUL, March 23 - </DATELINE><BODY>Medical Graphics Corp said William
Stubblefield resigned as chairman and chief executive officer,
effective immediately, with President Kye Anderson assuming his
duties.
    It said Stubblefield's leadership abilities and personal
integrity were "unquestioned," but because of "false rumors in
the investment community" he felt he could no longer be
effective as an officer.
    Stubblefield quit as president of Endotronics Inc &lt;ENDO> in
October. On Friday, Endotronics reported that its auditor,
Peat, Marwick, Mitchell and Co, said it withdrew its approval
of the company's financial data for the fiscal year ended Sept
30, 1986.
    Endotronics also said it was cooperating with the
Securities and Exchange Commission and acknowledged a grand
jury investigation into its operations.
    Medical Graphics said Stubblefield had made "significant
contributions" to the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13940" NEWID="8419">
<DATE>23-MAR-1987 13:52:55.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1934&#31;reute
d f BC-UNC-RESOURCES-&lt;UNC>-T   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>UNC RESOURCES &lt;UNC> TO EXPAND FACILITY</TITLE>
<DATELINE>    ANNAPOLIS, March 23 - </DATELINE><BODY>UNC Inc said it has reached agreement
with the U.S. Department of Energy to expand production
facilities at the company's Naval Products Division in
Uncasville, Conn.
    The company said the 55 mln dlr project will start
immediately and is scheduled for completion in 1990.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13941" NEWID="8420">
<DATE>23-MAR-1987 13:53:24.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1935&#31;reute
r f BC-CENTERIOR-ENERGY-&lt;CX>   03-23 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTERIOR ENERGY &lt;CX> SEES LOWER SPENDING</TITLE>
<DATELINE>    CLEVELAND, March 23 - </DATELINE><BODY>Centerior Energy Corp said its
construction spending "peaked" in 1986 at 1.1 billion dlrs,
and annual expenses are expected to be substantially lower over
the next several years.
    Last year, the company placed in operation Perry Nuclear
Unit One. In December, its Davis-Beebe Nuclear Power Station
resumed operations after an 18-month outage.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13942" NEWID="8421">
<DATE>23-MAR-1987 13:57:16.98</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>iran</D><D>iraq</D><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y RM
&#22;&#22;&#1;f1947&#31;reute
r f AM-GULF-AMERICAN   03-23 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. PREPARED TO ESCORT KUWAITI TANKERS</TITLE>
<AUTHOR>    By CHARLES ALDINGER, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The United States has offered Navy
warships to escort Kuwaiti oil tankers into and out of the 
Gulf where they could be threatened by new Iranian anti-ship
missiles, U.S. defense officials said today.
    "We believe the Kuwaitis have also approached the Soviet
Union about the possibility of using Soviet tankers" to ship
their oil, one of the officials told Reuters. "But if there is
superpower protection, we would rather it come from us," the
official said.
    The officials, who asked not to be identified, said Kuwait
had asked about possible protection for a dozen vessels, most
of them oil tankers, which could be supplied by three U.S. Navy
guided missile destroyers and two guided missile frigates now
in the southern part of the Gulf.
    "We told them we would give them help and we are waiting to
hear the Kuwaiti response to our offer," one official said.
    In addition to a half dozen ships in the U.S. Navy's small
Mideast Task Force near the Straits of Hormuz, the Pentagon has
moved 18 warships -- including the Aircraft Carrier Kitty Hawk
-- into the northern Indian Ocean in the past month.
    White House and defense officials said today that massing
of the fleet was routine and had nothing to do with the
Iran-Iraq war or Iran's recent stationing of Chinese-made 
anti-ship missiles near the mouth of the Gulf.
    The land-based missiles have increased concern in Kuwait
and other Middle East countries that their oil shipments might
be affected. Several hundred vessels have been confirmed hit in
the  Gulf by Iran and Iraq since early 1984. White House
spokesman Marlin Fitzwater told reporters today that it was in
the U.S. strategic interest to keep the free flow of oil in the
gulf and through the Straits of Hormuz.
    But he said U.S. ships in the region were on routine
maneuvers.
    Defense Secretary Caspar Weinberger on Sunday declined to
discuss specifics, but said the United States would do whatever
was necessary to keep the Gulf shipping open in the face of new
Iranian anti-ship missiles in the region.
    "We are fully prepared to do what's necessary to keep the
shipping going and keep the freedom of navigation available in
that very vital waterway of the world," he said on NBC
television's "Meet the Press."
    The State Department said Friday Iran has been informed
about U.S. concern over the threat to oil shipments in the
Gulf. The communciation was sent through Switzerland, which
represents American interests in Iran.
     Iran on Sunday denied as baseless reports that it intended
to threaten shipping in the gulf and warned the United States
that any interference in the region would meet a strong
response from Tehran, Tehran Radio said.
    An Iranian Foreign Ministry spokesman, quoted in a
broadcast monitored by the BBC in London, said reports that
Iran intends to threaten shipping in the Gulf were baseless.
    "In conjunction with this misleading propaganda, America has
already paved the ground to achieve its expansionist and
hegemonistic intentions, aiming to build up its military
presence in the region," he was quoted as saying.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13943" NEWID="8422">
<DATE>23-MAR-1987 13:57:43.28</DATE>
<TOPICS><D>lumber</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1948&#31;reute
r f BC-TIMBER-REALIZATION-&lt;T   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>TIMBER REALIZATION &lt;TRX> TO SELL REMAINING ACRES</TITLE>
<DATELINE>    CHICAGO, Ill., March 23 - </DATELINE><BODY>Timber Realization Co said it has
agreed to sell its remaining 50,000 acres of timberland
property in Mississippi for about 11.3 mln dlrs in cash.
    Timber Realization, a limited partnership formed to dispose
of timberlands and related properties transferred to it by the
&lt;Masonite Corp>, said that when this sale is completed the
partnership will have received about 15.2 mln dlrs in cash and
notes from the sale of its properties since December 23, 1986.
    The partnership said it will terminate before August 3,
1987.
    Prior to that date, the partnership said it expects to form
a liquidating trust to provide for unresolved claims and
liablities.
    Timber Realization said the amount retained in that trust
will depend on its experience in resolving open items up to the
termination date, but it added it expects to retain a
substantial amount in the trust.
    The partnership said it anticipates making a cash
distribution of an as yet undetermined amount to unitholders at
or before the liquidation trust's funding date.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13944" NEWID="8423">
<DATE>23-MAR-1987 13:59:53.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1951&#31;reute
r f BC-DOMINION-&lt;D>-SAYS-GRO   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>DOMINION &lt;D> SAYS GROUP DROPS OPPOSITION TO PLAN</TITLE>
<DATELINE>    RICHMOND, Va., March 23 - </DATELINE><BODY>Dominion Resources Inc said it
has reahced an understanding under which the National Coal
Association would withdraw its opposition to the company's
petition for exemptions from the Powerplant and Industrial Fuel
Use Act of 1978.
    The company needs the exemptions from the U.S. Department
of Energy to allow it to build the combined cycle generating
units Chesterfield 7 and 8.  Chesterfield 7, a 210 megawatt
unit planned for service in June 1990 at a cost of about 130
mln dlrs, would initially burn natural gas. Companion unit
Chesterfield 8 would be built by June 1992.
    Dominion said the coal group withdrew its opposition to the
plants after Dominion said it would be willing to pursue
installation of a coal gasifier for Chesterfield under proper
economic conditions, so that the units could burn coal gas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13945" NEWID="8424">
<DATE>23-MAR-1987 14:02:59.79</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;f1962&#31;reute
d f BC-PIONEER-SYSTEMS-INC-&lt;   03-23 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>PIONEER SYSTEMS INC &lt;PAE> YEAR NOV 29 LOSS</TITLE>
<DATELINE>    NEW YORK, March 23 -
    </DATELINE><BODY>Oper shr loss five cts vs loss 1.28 dlrs
    Oper net loss 155,000 vs loss 3,982,000
    Sales 37.1 mln vs 34.2 mln
    NOTE: Net excludes losses from discontinued fabric
finishing operations of 3,431,000 dlrs vs 5,910,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13946" NEWID="8425">
<DATE>23-MAR-1987 14:03:04.90</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;f1963&#31;reute
d f BC-AMERICAN-SHARED-HOSPI   03-23 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN SHARED HOSPITAL SERVICES &lt;AMSH> YEAR</TITLE>
<DATELINE>    SAN FRANCISCO, March 23 - </DATELINE><BODY>Period ended December 31.
    Shr profit 11 cts vs loss 24 cts
    Net profit 224,271 vs loss 511,349
    Revs 7,258,688 vs 7,200,349
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13947" NEWID="8426">
<DATE>23-MAR-1987 14:03:12.48</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;f1965&#31;reute
s f BC-GEO.-A.-HORMEL-AND-CO   03-23 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>GEO. A. HORMEL AND CO &lt;HRL> </TITLE>
<DATELINE>    AUSTIN, MINN., March 23 -
    </DATELINE><BODY>Qtly div 15 cts vs 15 cts previously
    Pay May 15
    Record April 18
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13948" NEWID="8427">
<DATE>23-MAR-1987 14:05:33.64</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>bolivia</D><D>west-germany</D></PLACES>
<PEOPLE><D>von-weizsaecker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1975&#31;reute
u f BC-/BOLIVIA'S-TOP-UNION   03-23 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIVIA'S TOP UNION LEADER JOINS MINERS FAST</TITLE>
<DATELINE>    LA PAZ, March 23 - </DATELINE><BODY>Bolivia's top union leader today joined
a hunger strike by 1,300 state employed miners and workers to
press for higher wages he said.
    Juan Lechin Oquendo, the veteran secretary general of the
Bolivian Labour Organization, COB, told reporters: "I am
joining the fast to abide with our call for a hunger strike".
    Lechin, 83, became one of 12 COB leaders to join a hunger
strike to protest against the austerity programme of the
government of president Victor Paz Estenssoro.
    The striking leader began his fast as leaders of 9,000
miners employed by the state corporation COMIBOL were due to
star negotiations on ways to solve their conflict over pay.
    About 1,300 miners and workers entered today their fourth
day of fast in union offices and Roman Catholic churches to
press for a substantial hike in Bolivia's minimum monthly wage,
which is 40 bolivianos (about 20 dlrs), COB leader Walter
Degadillo said.
    "I will take part in the miners' negotiations because that
does not force me to suspend my fast," Lechin told reporters.
    The COMIBOL miners' strike entered its fifth day to press
for higher wages and more funds for the mining nationalised
industry.
    About 20,000 miners, or two-thirds of the working force,
have been laid off through the government's decision to
streamline the deficit-ridden state corporation following a
collapse in the international tin price.
    The government, faced with mounting social unrest against
its economic policies, has called the miners' strike and fasts
part of a campaign aimed at discrediting it during the visit of
West German president Richard von Weizsaecker, who began a
four-day visit last Friday.
    "I regret not being able to attend an invitation by
president Weizsaecker to a dinner tonight because I am on a
hunger strike," Lechin told reporters. "I also have to orga-
nise the strike."
    Weizsaecker is hosting a dinner tonight for Paz Estenssoro
and had invited both Lechin and Victor Lopez, the miners'
federation top leader. Although lopez has not joined the fast,
union sources said its unlikely he would attend the dinner.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13949" NEWID="8428">
<DATE>23-MAR-1987 14:05:45.32</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1976&#31;reute
r f BC-TWO-U.S.-BANCORP-&lt;USB   03-23 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>TWO U.S. BANCORP &lt;USBC> UNITS MERGE</TITLE>
<DATELINE>    PORTLAND, Ore., March 23 - </DATELINE><BODY>U.S. Bancorp's Pacific State
Bank of Lincoln City said it plans to merge with U.S. Bancorp's
U.S. National Bank of Oregon.
    Under the pact, Pacific State will become part of the U.S.
Bank branch system.
    The company said the merger is expected to be completed
after mid-year, following regulatory approval.
    All local staff and management will remain the same, it
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13950" NEWID="8429">
<DATE>23-MAR-1987 14:06:08.35</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1977&#31;reute
b f BC-******MTS-ACQUISITION   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MTS ACQUISITION HAS NEGLIGIBLE NUMBER OF CAESARS WORLD SHARES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13951" NEWID="8430">
<DATE>23-MAR-1987 14:07:27.30</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;f1984&#31;reute
r f BC-WOLVERINE-&lt;WWW>-TO-SE   03-23 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>WOLVERINE &lt;WWW> TO SELL TWO SUBSIDIARIES</TITLE>
<DATELINE>    ROCKFORD, MICH., March 23 - </DATELINE><BODY>Wolverine World Wide Inc said
it signed a letter of intent to sell to an investment group two
subsidiaries, Kaepa Inc, an athletic footwear maker, and its
international marketing arm, Kara International Inc.
    Terms were not disclosed.
    Wolverine said the action continues the restructuring
operation begun last July to make the company more competitive
and profitable. Wolverine said it will concentrate its effort
in the athletic footwear market in its Brooks footwear
division.
    Wolverine said it expects "favorable results in the second
half as a result" of its restructuring. In 1986 it said
restructuring helped improve its financial capabilities.
    The company reported a 12.6 mln dlr loss, or 1.75 dlrs a
share, in 1986 due largely to a 9.0 mln dlr restructuring
charge and a 4.0 mln dlr inventory evaluation readjustment
taken in the second quarter.
    Since that time, it has sold two small retail operations,
closed and consolidated five domestic footwear factories and
closed about 15 retail locations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13952" NEWID="8431">
<DATE>23-MAR-1987 14:09:02.04</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;f1992&#31;reute
u f BC-U.S.-THRIFTS-CUT-LIAB   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. THRIFTS CUT LIABILITIES IN JANUARY</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Federal Home Loan Bank Board
said thrift institutions insured by the Federal Savings and
Loan Insurance Corp reduced their liabilities at a 4.1 pct
annual rate during January.
    It was the first drop in liabilities in a year and resulted
from repayments of borrowings, the bank board said.
    Mortgage loans closed by thrifts in January totaled 15.2
billion dlrs, down from 31.6 billion dlrs in December. Net new
deposit withdrawals were up to 2.2 billion dlrs from 1.9
billion dlrs in December.
    Total liabilities in January were 1.108 trillion dlrs,
compared with 1.112 trillion dlrs in December. Capital rose to
53.51 billion dlrs from 53.17 billion dlrs in December.
    The bank board said thrifts were net repayers of 4.4
billion dlrs of borrowings in January, in contrast to their 6.3
billion dlr net increase in borrowings in December.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13953" NEWID="8432">
<DATE>23-MAR-1987 14:09:36.82</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;f1996&#31;reute
r f BC-PACIFICARE-&lt;PHSY>-IN   03-23 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFICARE &lt;PHSY> IN TALKS TO ACQUIRE HMO</TITLE>
<DATELINE>    CYPRESS, Calif., March 23 - </DATELINE><BODY>PacifiCare Health Systems Inc
said it is in negotiations to acquire Capital Health Care, a
40,000 member health maintenance organization servicing Salem
and Corvallis, Ore.
    The company said it will not disclose terms or other
details of the acquisition until negotiations are completed.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13954" NEWID="8433">
<DATE>23-MAR-1987 14:12:02.63</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1998&#31;reute
b f BC-******MTS-ACQUISITION   03-23 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MTS ACQUISITION HAD TALKS WITH PRATT HOTEL, SOUTHMARK ON CAESARS WORLD PURCHASE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13955" NEWID="8434">
<DATE>23-MAR-1987 14:12:15.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1999&#31;reute
r f BC-DUKE-POWER-&lt;DUK>-BEGI   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>DUKE POWER &lt;DUK> BEGINS LICENSING FOR NEW PLANT</TITLE>
<DATELINE>    CHARLOTTE, N.C., March 23 - </DATELINE><BODY>Duke Power Co said it began its
licensing process for a new hydroelectric power plant on Coley
Creek, near the towns of Cashiers, N.C., and Salem, S.C.
    Duke said it will decide whether to pursue the project once
the licensing process is completed.
    In order to be producing electricity by the turn of the
century, the company said, it needed to start the four to six
year licensing process now.
    If the site is developed to its full potential of 2,100
megawatts, its cost will be slightly greater than three billion
dlrs, including projected effects of inflation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13956" NEWID="8435">
<DATE>23-MAR-1987 14:12:41.91</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;f2002&#31;reute
d f BC-INITIALS-PLUS-&lt;IINC>   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>INITIALS PLUS &lt;IINC> SEES SHARP SALES INCREASE</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Initials Plus said it expects sales in
the year ending January 31, 1988 to exceed 10 mln dlrs.
    The company had sales last year of 256,000 dlrs.
    Initials said it expects to turn profitable some time in
1988 and sees sales of 100 mln dlrs annually by the end of
1989.
    The company said it now has over 100 personal retailers
marketing its products and expects to have more than 1,000 by
the end of 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13957" NEWID="8436">
<DATE>23-MAR-1987 14:15:36.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2007&#31;reute
u f BC-IBM-&lt;IBM>-TO-SHIP-NEW   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>IBM &lt;IBM> TO SHIP NEW MODEL TWO MONTHS EARLIER</TITLE>
<DATELINE>    RYE BROOK, N.Y., March 23 - </DATELINE><BODY>International Business Machines
Corp said it will begin shipping its mid-range 9370 Information
System up to two months earlier than previously planned.
    IBM said model 20 and 60 processors with a selected set of
features will be available starting July 1987. Other 9370
processor models will be available starting October 1987, it
said.
    In addition, the company said shipments of the 9370
Information System will begin this month to customers
particiaping int he early support program.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13958" NEWID="8437">
<DATE>23-MAR-1987 14:18:34.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D><D>senegal</D><D>ivory-coast</D><D>ghana</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f2012&#31;reute
d f AM-COMMUNITY-AID   03-23 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST AFRICA NATIONS RECEIVE MOST EC EXPORT AID</TITLE>
<DATELINE>    BRUSSELS, March 23 - </DATELINE><BODY>Senegal, Ivory Coast and Ghana are the
biggest recipients among developing nations of a special
European Community (EC) aid program to compensate for lost
export earnings, EC figures published today showed.
    The EC has special trading and aid agreements with 66
countries in Africa, the Caribbean and the Pacific. This
includes a program called STABEX under which it provides aid to
export-dependent countries if export earnings drop too much.
    Senegal received about 155 mln European Currency Units (176
mln dlrs) between 1975 and 1984 mainly to compensate for a fall
in its peanut export earnings.
    The Ivory Coast received 108 mln ECUs (123 mln dlrs) and
Ghana received 91 mln ECUs (104 mln dlrs) mostly to make up for
a drop in coffee and cocoa export earnings.
    Under the EC's STABEX aid program (export earnings
stabilisation system), the Community provides special financial
assistance to developing countries if export earnings in
certain raw materials fall below an established level.
    The EC provided about 1.06 billion ECUs (1.21 billion dlrs)
in STABEX aid from 1975 to 1984, including 273 mln ECUs (311
mln dlrs) for losses in peanut exports, 261 mln ECUs (298 mln
dlrs) for coffee and 150 mln ECUs (171 mln dlrs) for cocoa.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13959" NEWID="8438">
<DATE>23-MAR-1987 14:19:09.62</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;f2015&#31;reute
u f BC-SOSNOFF-HAS-SMALL-NUM   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>SOSNOFF HAS SMALL NUMBER OF CAESARS &lt;CAW> SHARES</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Martin T. Sosnoff said his &lt;MTS
Acquisition Corp> to date has received only a "negligible"
number of Caesars World Inc shares in response to its 28-dlr-
per-share tender offer for all shares.
    Sosnoff also said he has held preliminary talks with Pratt
Hotel Corp &lt;PRAT> and Southmark Corp &lt;SM> on forming a joint
venture to enter into talks to acquire Caesars in a friendly
transaction in which Sosnoff would have a 50 pct interest and
Pratt and Southmark the remainder.
    Sosnoff said the talks with Pratt and Southmark are not
being actively pursued at the presentand may or may not be
continued in the future.  He said there could be no assurance
that a joint venture would be formed or that Caesars would
agreed to talks.  "Several preliminary contacts with
representatives of Caesars have not resulted in any indication
that it wishes to enter into such negotiations," Sosnoff said.
    He said based on talks with staff members of gaming
authorities, there can be no assurance that the necessary
regulatory review of its bid for Caesars World can be completed
by the original April Three expiration date.
    Sosnoff said it has extended the tender until May 15.  The
bid remains subject to regulatory approvals and the arrangement
of financing.
    Pratt, which owns the Sands Hotel and Casino in Atlantic
City, N.J., where Caesars operates the Boardwalk Regency Hotel
and Casino, recently waged an apparently unsuccessful campaign
to acquire control of Resorts International Inc &lt;RTA> against
New York developer Donald Trump.  Southmark owns about 37 pct
of Pratt Hotel.
    Caesars World's boasrd has urged rejection of the offer on
the grounds that it is inadequate and has said it would
investigate alternative transactions.  Sosnoff currently owns
about 13.3 pct of Caesars World.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13960" NEWID="8439">
<DATE>23-MAR-1987 14:19:17.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2016&#31;reute
h f BC-TECHNOLOGY   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>TECHNOLOGY/ATT'S &lt;T>  EFFORTS TO SELL COMPUTERS</TITLE>
<AUTHOR>    By Catherine Arnst, Reuters</AUTHOR>
<DATELINE>    BOSTON, March 23 - </DATELINE><BODY>American Telephone and Telegraph Co is
another illustration of a maxim already learned by several
other huge corporations - that success in one segment of the
electronics industry is very difficult to translate into
success selling computers.
    ATT is learning the hard way that all the resources and
technological advances in the world can not make up for weak
marketing and sluggish responses to one of the most rapidly
changing and competitive industries.
    Consequently, ATT will try again this week to convince the
world that it is serious about computers, after four years in
the business, by announcing a set of new products and
showcasing its latest computer chief, Vittorio Cassoni,
formerly of ATT's Italian affiliate Ing. C. Olivetti and Co.
    Industry consultants said ATT will announce a faster
addition to its 3B line of minicomputers, improved connectivity
products, a new version of its Unix software operating system
and assortered peripheral equipment, including a laser printer.
    The announcements, however, hold "minimal significance" for
both ATT and the industry, said Forrester Research consultant
John McCarthy. "They are just never going to be a significant
player in this market as long as computers play a subjagated
role to the (telephone) network," he said.
    ATT, the world's largest company before its breakup in 1984
and still the pre-eminent phone company in the United States,
has only been able to carve out a fractional share of the
computer industry.
    Last year was particularly disastrous for the company's
data systems division, which posted a pre-tax operating loss
for the year of 1.2 billion dlrs (ATT as a whole reported a
1986 profit of 139 mln, after a 1.7 billion dlr charge against
earnings, down from 1.56 billion dlrs the prior year).
    Morale is down throughout the company after ATT reduced its
work force by 32,000 people last year, leaving a work force of
290,000, but analysts say the situation in the computer
division is particularly bad, especially since the computer
merged its computer and network sales forces.
    Meanwhile, the company's most successful product, the 6300
personal computer, ran out of steam in the last three months of
the year after gaining some five pct of the market.
    "ATT seemed to lose their focus with the 6300," said
consultant Norman DeWitt, president of Dataquest Inc. "There
were no major product enhancements last year and a perception
developed in the marketplace that the product was tired."
    Meanwhile, the 6300 had to face increasingly aggressive
competition from smaller companies that undercut ATT on price
and offered more technologically advanced machines. "I would
have to say that, after a fast start, ATT just lost momentum on
the pc side," said DeWitt.
    The 3B line of minicomputers has never found great
acceptance in the market and ATT's Unix operating system,
though loved by scientists and engineers, has yet to put a
serious dent in the much more widely used systems adopted by
industry giant International Business Machines Corp &lt;IBM>.
    By last fall, ATT executives found themselves trying to
defuse widespread speculation that ATT was going to abandon or
sell off the computer division and the company turned over all
responsibility for personal computers to Olivetti, in which its
owns a 23.5 pct stake.
    But analysts said the company's image was dealt another
blow last week when ATT senior vice president James Edwards,
who preceded Cassoni as head of the computer division,
announced he was leaving to become president of TelWatch Inc, a
small developer of systems to manage networks.
    Several other executives have also left in recent months,
including John Walsh, head of the 3B minicomputer line. And,
although the 43-year old Cassoni has considerable experience
running Olivetti's successful computer operations, analysts
expressed concern about his approach to ATT's business.
    Cassoni has said he wants to acheive recognizable success
in both within ATT and in the marketplace within two years and
it is widely assumed that he will rapidly abandon any product
that does not meet those profitability goals.
     The problem with such a strategy, analysts said, is that
it may not give certain products enough time to become
established and customers may be reluctant to buy a product
that could be discontinued in a year or two.
    ATT chairman James Olson took a slightly more conservative
view of the computer division recently. He lauded Cassoni's two
year goal but said he expects the data systems division to turn
around within five years.
    Olson denied the perception that ATT was retreating "to the
womb, going back to our old business" of long distance
telephone systems at the expense of the computer division.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13961" NEWID="8440">
<DATE>23-MAR-1987 14:22:50.74</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>iran</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2023&#31;reute
u f AM-GULF-IRAQ 1STLD  03-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ REPORTS ATTACKS ON SUPERTANKER, OIL TARGETS</TITLE>
<AUTHOR>    By MAAMOUN YOUSSEF, Reuters</AUTHOR>
<DATELINE>    BAGHDAD, March 23 - </DATELINE><BODY>Iraq said today its warplnes had
attacked a supertanker and four Iranian oil sites and vowed to
keep up such raids until the Gulf war ends.
    The surprise escalation of attacks on oil installations
broke more than a month-long lull in Iraqi air force action.
    It also followed celebrations yesterday of what Baghdad
hailed as Iran's failure to achieve victory during the Iranian
year which ended on Saturday.
    A high command communique said warplanes hit the western
jetty at Iran's Kharg island oil terminal in the afternoon and
struck a supertanker nearby at the same time.
    The Kharg terminal, attacked about 135 times since August
1985, was last raided in January.
    The communique did not identify the supertanker, but said
columns of smoke were seen billowing from it.
    In London, Lloyds insurance said the 162,046-ton Iranian
tanker Avaj was hit on Saturday, when Iraq reported an earlier
Gulf attack.
    But there has been no independent confirmation of today's
supertanker attack nor of other raids on shipping reported by
Baghdad in the past 24 hours.
    The last confirmed Iraqi attack took place on March eight,
when the Iranian tanker Khark-5 was hit south of Kharg.
    Iraqi warplanes also struck Iran's offshore oilfields at
Nowruz, Cyrus and Ardeshir in northern gulf, some 80 km (50
miles) west of Kharg island, today's communique said.
    The three oilfields have been raided several times in the
past three years. Oil sources said they were not crucially
important to Iran's oil export trade.
    A second high command communique today said Iraqi warplanes
flew 94 sorties against Iranan targets and positions at the war
front.
    It also reported a clash between Iraqi naval units and
several Iranian boats carrying men to attack an Iraqi oil
terminal at the northen tip of the Gulf.
    Two Iranian boats wer destroyed and sunk with their
occupants and the others fled, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13962" NEWID="8441">
<DATE>23-MAR-1987 14:30:22.14</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;f2038&#31;reute
u f BC-TALKING-POINT/WENDY'S   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKING POINT/WENDY'S INTERNATIONAL &lt;WEN></TITLE>
<AUTHOR>    By Patti Domm, Reuters</AUTHOR>
<DATELINE>    New York, March 23 - </DATELINE><BODY>Takeover speculation buoyed Wendy's
International Inc's stock, even after Coca Cola Co took the
fizz out of market rumors by denying it was an interested
suitor.
    Wendy's retreated from an earlier high of 13-3/8, and lost
a point when Coca Cola &lt;KO> said the rumors were untrue.
However, Wendy's remained up 5/8 at 12-3/8 on volume of more
than three mln shares.
    Several analysts were skeptical of the rumors, yet they
said they could not conclude a takeover of the fast food
restaurant chain was impossible.
    Wendy's declined comment on takeover rumors of all kinds.
Yet, a Wendy's spokesman said the company was aware of a
Business Week article, which named Coke as a potential suitor
and which market sources said helped ignite the rumor mill.
    Market sources mentioned Anheuser-Busch Inc &lt;BUD> and
Pepsico Inc &lt;PEP> as alternatives to Coke as acquirers. Neither
of those companies would comment, nor would the Wendy's
official.
    "It doesn't happen every day, every week, every month, but
its not unusual for us to be linked with those companies," said
Denny Lynch, Wendy's vice president of communications.
    However, Lynch would not comment specifically on the
current market rumors.
    Even before Coke denied the rumors, analysts had been
skeptical of a takeover since Atlanta-based Coke has stated it
views fast food chains as customers and does not want to become
a competitor to them.
    "I can't put another name on it," said Kidder peabody
analyst Jay Freedman as vaguer rumors continued to hold up
Wendy's stock. "It very well could be someone's interested."
    But Freedman said he doesn't believe now is the right time
for Wendy's to be sold.
    "They're obviously having operational difficulties. I've
always believed at the right price Wendy's would consider (an
offer), but I can't believe this is the right price at the
right time," Freedman said.
    "If a transaction takes place, the buyer's going to control
the situation," Freedman said.
    "I just don't think there's anything going on. I don't
think it's worth much more than where it is," said Joseph Doyle
of Smith Barney.
    Analysts said Wendy's has suffered largely from the "burger
wars" between itself, McDonald's Corp &lt;MCD> and Pillsbury Co's
&lt;PSY> Burger King chain. Wendy's, the third largest fast food
hamburger chain in the U.S., lost about 11 pct in same store
sales last year, analysts said.
    Wendy's also fumbled when it introduced a high-priced
breakfast, which it has since withdrawn, analysts said. Some
analysts said the company should be bringing in new products,
but it is too soon to predict a significant turnaround.
    There are analysts, however, who believe Wendy's may be
vulnerable to a takeover.
    James Murren of C.J. Lawrence said Wendy's could be worth
14 to 15 dlrs on a break-up basis. He said the company has
improved its debt-to-equity ratio and Wendy's owns a high
percent of its own restaurants - 38 pct of 3,500.
    "They also have some attractive leaseholds on their
restaurants," Murren said.
    Murren said that despite the downturn in sales last year,
Wendy's real sales, store for store, turned upwards in the
fourth quarter. "That was about the first time in seven
quarters," he said.
    Caroline Levy of E.F. Hutton also believes something could
be going on with Wendy's. "My gut feeling is something's going
to happen. I don't know what," she said.
    She estimated a takeover price would be at least 15 dlrs
per share.
    One analyst speculated that Coke became the rumored suitor
because Wendy's decided to sell Coke at its fountains instead
of Pepsi.
    Wendy's is currently embroiled in litigation brought by
Pepsi, which holds a contract with the company, analysts said.
Pepsi's soda is still sold in the Wendy's restaurants.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13963" NEWID="8442">
<DATE>23-MAR-1987 14:31:49.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2041&#31;reute
r f BC-HIGHWAY-BILL-VETO-WIL   03-23 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>HIGHWAY BILL VETO WILL BE UPHELD, DOLE SAYS</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>Senate Republican Leader Robert Dole
said he believed the Senate would vote to sustain a
presidential veto of an 88 billion dlr highway and mass transit
bill.
    "I think the veto will be sustained," he told reporters after
he and his wife, Transportation Secretary Elizabeth Dole, had
met with President Reagan at the White House.
    Elizabeth Dole said, "We're going to be working on that
(sustaining a veto) and...I'm optimistic that we will sustain
it."
    But she conceded, "It will be tough."
    Reagan has said he will veto the five-year measure because
of objections to so-called highway demonstration projects and
transportation programs that put the bill about 10 billion dlr
over his budget request.
    "He needs to demonstrate that he's in charge and that he's
effective and he can't let these big things slip through,
saying 'I don't want a confrontation'," Sen. Dole said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13964" NEWID="8443">
<DATE>23-MAR-1987 14:32:25.34</DATE>
<TOPICS><D>grain</D><D>oilseed</D><D>corn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2044&#31;reute
f f BC-export-inspections   03-23 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS  SOYBEANS 13,417 WHEAT 12,003 CORN 27,623
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13965" NEWID="8444">
<DATE>23-MAR-1987 14:33:40.99</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;f2051&#31;reute
u f BC-GERMAN-BANKING-AUTHOR   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN BANKING AUTHORITIES DRAWN INTO VW CASE</TITLE>
<AUTHOR>    By Jonathan Lynn, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, March 23 - </DATELINE><BODY>West Germany's banking authorities
are being drawn into the currency scandal surrounding
Volkswagen AG &lt;VOWG.F> as the repercussions and allegations in
the financial community widen, banking sources said.
    The Bundesbank has seconded one of its currency experts to
help the state prosecutor investigating the currency fraud at
Volkswagen, VW, in Brunswick, a Bundesbank spokesman said.
    The Federal Banking Supervisory Office in West Berlin also
is considering press allegations that several banks "parked" open
positions with VW, breaching banking regulations.
    Earlier this month Volkswagen said it had incurred
potential losses of 480 mln marks in an alleged fraud involving
the hedging of open currency positions.
    The foreign exchange activities of a large non-bank
corporation would not normally attract the attention of West
German banking regulators.
    Their strict foreign exchange rules, set up after the
Herstatt banking crash in 1974, apply only to banks.
    "This strict banking supervision aims to protect special
interests -- creditors and depositors," the Bundesbank spokesman
said, adding company shareholders were not covered.
    "The Volkswagen case, in so far as it involves Volkswagen's
normal foreign exchange business, lies far outside the area of
the Bundesbank," he said.
    The Bundesbank's decision to send a currency expert to
Brunswick to help investigations into activities involving
Volkswagen's foreign exchange dealing room was part of the
normal assistance rendered by one public authority to another.
    The expert will count as part of the state prosecutor's
staff and not report back to the Bundesbank, he said.
    But the Bundesbank could get more closely involved in
allegations that banks used VW to circumvent regulations.
    Section 1a of the Banking Law requires banks at the close
of business each day to hold no more than 30 pct of their
capital and reserves in open positions.
    The section was introduced after the Herstatt bank crash in
1974 due to currency speculation.
    The Platow Brief financial newsletter said on Friday that
about 16 banks, mainly foreign, had been circumventing section
1a by "parking" such excess open positions with VW.
    This would mean that the bank concerned would sell the
position temporarily to VW, buying it back a day or so later.
    However, such repurchase agreements are expressly included
in section 1a as still counting as open positions.
    A spokesman for the Federal Banking Supervisory Office in
West Berlin said it was following the allegations but
investigations were difficult because the 16 banks had not been
named. He declined to say what steps were being taken.
    But banking sources said the Supervisory Office as an
initial step had approached the Platow Brief for the identity
of the banks, but this had been refused. The Platow Brief
declined comment.
    If the Supervisory Office ascertains that the banking
regulations have been infringed, it will pursue the case with
the assistance of the Bundesbank.
    The Office, subordinate to the Finance Ministry, does not
have branches outside Berlin.
    The independent Bundesbank however operates 203 branches in
West Germany, closely monitoring local banks.
    Banks deposit statistics, including currency position data,
once a month with the Bundesbank's regional administrations at
federal state level, the Landeszentralbanken (LZBs).
    Currency dealers said parking excess positions with
non-banking corporates was frequent practice.
    Such positions would often be sold for tomorrow/next
delivery, with a verbal agreement to buy it back the next day
at the same rate.
    A VW spokesman said it was company policy not to undertake
currency hedging but he confirmed that arbitrage was allowed.
    He declined to estimate the volume of currency arbitraging.
German press reports have put it at 80 billion marks a year.
    The spokesman declined to comment on how it would have been
possible to carry out a fraud involving currency hedging given
the company's policy not to conduct this kind of business.
    VW finance director Rolf Selowsky accepted responsibility
and resigned. VW has suspended six other officials and fired
its former foreign exchange chief, Burkhard "Bobby" Junger.
    Management board chief Carl Hahn told a ceremony today
marking VW's 50 millionth vehicle that personnel changes did
not mean any of those involved was guilty.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13966" NEWID="8445">
<DATE>23-MAR-1987 14:38:02.60</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;f2069&#31;reute
r f BC-SOVIET-CLAIMS-TO-BE-T   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET CLAIMS TO BE TREATED EQUALLY - ACCOUNTANTS</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>All claims to be settled under a
U.K./Soviet pact agreed last year in connection with
pre-revolutionary Russian bonds and seized assets will be
treated equally, Price Waterhouse and Co (PW) said.
    It said that the treatment for the bonds had not actually
been determined, although it had been estimated that holders
would receive about 10 pct of the nominal value of the bonds,
which was the percentage to be assigned to property claims.
Now, "the face value of the bond will be added to the value of
the property. A dividend will then be calculated and all claims
will be treated equally," PW said.
    PW administers the Russian Compensation Fund, which was set
up by the Foreign Office in 1917 to oversee some 45 mln stg in
pre-revolutionary reserves for claimants of assets seized
during the Revolution.
    PW, which is currently accepting applications for the
claims, said that to date, 2,000 bond application forms and 600
property application forms have been returned.
    Because the number of applications and bonds returned is
increasing rapidly, a special office where the claims are being
processed will remain open beyond the close of business until
midnight on March 31, the deadline for claims to be submitted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13967" NEWID="8446">
<DATE>23-MAR-1987 14:38:18.17</DATE>
<TOPICS><D>grain</D><D>corn</D><D>sorghum</D></TOPICS>
<PLACES><D>belgium</D><D>usa</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2070&#31;reute
u f BC-EC-COMMISSION-TO-PROP   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COMMISSION SET TO DETAIL GRAIN IMPORT PLAN</TITLE>
<DATELINE>    BRUSSELS, March 23 - </DATELINE><BODY>The EC Commission will decide shortly
precisely how to arrange the import of third country maize and
sorghum into the EC in fulfilment of its agreement with the
United States, Commission sources said.
    Under the accord, reached following U.S. complaints about
the impact on its agricultural exports of Spanish EC
membership, the EC will import two mln tonnes of maize and
300,000 tonnes of sorghum a year up to end of 1990.
    All this produce will be imported into Spain at special
levy levels likely to be below those applying for imports into
other EC countries.
    The sources said it was possible that the Spanish
intervention board would be asked to buy the produce directly
this year, as it was rather late to make other arrangements.
    They added that the choice for future years appears to lie
between a system of regular tenders and the setting of a daily
special levy applicable to Spanish imports.
    There will initially be no tax on re-exports of maize and
sorghum from Spain to other EC countries, although such a tax
could be imposed later, the sources added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13968" NEWID="8447">
<DATE>23-MAR-1987 14:41:59.68</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;f2084&#31;reute
d f BC-PATIENT-TECHNOLOGY-IN   03-23 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>PATIENT TECHNOLOGY INC &lt;PTI> YEAR LOSS</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., March 23 -
    </DATELINE><BODY>Shr loss 12 cts vs loss 63 cts
    Net loss 596,000 vs loss 2,934,000
    Revs 7,261,000 vs 6,600,000
    Year
    Oper shr loss 14 cts vs loss 1.28 dlrs
    Oper net loss 683,000 vs loss 5,824,000
    Revs 29.8 mln vs 22.7 mln
    Avg shrs 4,930,000 vs 4,546,000
    NOTE: Year net excludes losses from discontinued operations
of 764,000 dlrs vs 5,152,000 dlrs.
                        
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13969" NEWID="8448">
<DATE>23-MAR-1987 14:42:13.18</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;f2086&#31;reute
r f BC-GEMINI-TECHNOLOGY-INC   03-23 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>GEMINI TECHNOLOGY INC &lt;GMTIF> YEAR LOSS</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 23 -
    </DATELINE><BODY>Shr loss 74 cts
    Net loss 4,192,613
    Revs 2,928,021
    Note: 1986 net includes 3,095,000 dlr write-off tied to
discontinuation of emulator board production.
    Co's 1st fl-yr of operation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13970" NEWID="8449">
<DATE>23-MAR-1987 14:42:45.07</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;f2088&#31;reute
u f BC-SOCIETE-GENERALE-REPO   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SOCIETE GENERALE REPORTS HIGHER 1986 PROFITS</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>France's Societe Generale &lt;SGEN.PA> bank,
which will be sold to the private sector in the second half of
this year, reported increased profits for last year.
    Societe Generale, one of the three largest state-owned
banking groups, said in a statement that its parent company
profit for 1986 totalled 800 mln francs, up 21.2 pct on 1985's
660 mln profit.
    This was in line with earlier forecasts of profit of
between 770 and 800 mln francs.
    The bank's parent company gross operating profits were up
5.4 pct at 21.34 billion francs against 20.24 billion in 1985.
    The increase in the bank's gross operating profits was
mostly due to a rise in french franc deposits and personal
loans as well as the development of its financial activities,
Societe Generale said.
    Parent company net banking earnings last year were also up
at 13.9 billion francs compared with 13.57 billion in 1985
while operating costs totalled 7.44 billion francs against 6.67
billion the previous year.
    Societe Generale President Marc Vienot said in December he
expected group 1986 consolidated profits to rise to between 2.5
billion and 2.6 billion francs from 1.62 billion in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13971" NEWID="8450">
<DATE>23-MAR-1987 14:43:18.90</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;f2090&#31;reute
r f BC-VARITY-&lt;VAT>-IN-JOINT   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>VARITY &lt;VAT> IN JOINT VENTURE WITH BARCLAYS</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>Varity Corp said it established a joint
venture company with &lt;Barclays Bank PLC>'s Highland Leasing Ltd
unit, to provide retail credit facilities for Varity farm and
industrial machinery dealers and customers.
    The new finance company, called Barclays Bank Agricultural
Finance Corp, will absorb the 30-member staff of Varity's
former Canadian retail finance operations, said Varity,
formerly Massey-Ferguson Ltd. Other terms were undisclosed.
    It added that the new company would also pursue third party
financing opportunities with other Canadian agricultural
businesses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13972" NEWID="8451">
<DATE>23-MAR-1987 14:44:38.37</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2092&#31;reute
u f BC-FRENCH-HOUSEHOLD-CONS   03-23 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH HOUSEHOLD CONSUMPTION FALLS IN FEBRUARY</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>French household consumption of
industrial goods fell 1.1 pct seasonally adjusted to 21.32
billion francs last month from 21.55 billion in January, the
National Statistics Institute (INSEE) said.
    This brought consumption back down to the December 1986
level, it added.
    INSEE said that the fall was due to a sharp decline in
purchases of clothing, which were high in January due to the
cold weather. The decline was partly compensated by a small
rise in purchases of durable goods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13973" NEWID="8452">
<DATE>23-MAR-1987 14:44:54.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2094&#31;reute
d f AM-ecuador-minister   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR NAMES NEW INDUSTRY AND TRADE MINISTER</TITLE>
<DATELINE>    QUITO, March 23 - </DATELINE><BODY>President Leon Febres Cordero named
Ricardo Noboa as the new minister of industry and trade in
Ecuador to replace Xavier Neira who resigned last week, a
presidential place spokesman said.
    A lawyer by training, Noboa, 34, was deputy secretary of
fisheries between august 1984 and september 1986.
    Neira stepped down last thursday. He then denied he was
responding to recent protests against a new austerity programme
that went into effect after a recent earthquake.
    The march 5 tremor caused an estimated one billion dlrs in
damage and left 1,000 people dead or missing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13974" NEWID="8453">
<DATE>23-MAR-1987 14:45:47.15</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2096&#31;reute
u f BC-FRENCH-ECONOMIC-COUNC   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH ECONOMIC COUNCIL PESSIMISTIC ON 1987 GROWTH</TITLE>
<DATELINE>    PARIS, March 23 - </DATELINE><BODY>France's Economic and Social Council
(CES), an advisory body comprising industrialists, trade
unionists and representatives of other sectors of the French
economy, said the country's annual growth may not reach two pct
in 1987.
    French gross domestic product risks not reaching the two
pct growth registered last year, the Council said in a report
on first quarter 1987 economic activity without giving any
specific forecasts. Finance Minister Edouard Balladur was
quoted today as saying that French 1987 growth will probably be
about two pct.
    Balladur said in an interview with the financial daily Les
Echos that the country's economic growth will probably be about
the same as last year due to a less favourable international
environment.
    CES President Philippe Neeser said one of the major fears
for the French economy this year was a resurge in inflation.
    Disinflation was an absolute priority, Neeser told
journalists, adding that a failure to do this would be
extremely serious as if would be very difficult to reverse for
many years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13975" NEWID="8454">
<DATE>23-MAR-1987 14:47:12.91</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;f2102&#31;reute
r f BC-UNIFORCE-TEMPORARY-&lt;U   03-23 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>UNIFORCE TEMPORARY &lt;UNFR> SETS SPLIT</TITLE>
<DATELINE>    NEW HYDE PARK, N.Y., March 23 - </DATELINE><BODY>Uniforce Temporary
Personnel Inc said it declared a three-for-two stock split,
payable May 15 to stockholders of record April 14.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13976" NEWID="8455">
<DATE>23-MAR-1987 14:47:18.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2103&#31;reute
d f BC-HERLEY-MICROWAVE-SYST   03-23 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>HERLEY MICROWAVE SYSTEMS &lt;HRLY> GETS CONTRACTS</TITLE>
<DATELINE>    LANCASTER, PA., March 23 - </DATELINE><BODY>Herley Microwave Systems Inc
said it received 8,300,000 dlrs in contracts from the
Westinghouse Electric Corp &lt;WX> to manufacture super components
for the F-16 fighter jet programs.
    The awards are scheduled for delivery in 1987, 1988 and
early 1989, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13977" NEWID="8456">
<DATE>23-MAR-1987 14:47:45.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2105&#31;reute
d f BC-MCA-&lt;MCA>-SEEKS-TO-LI   03-23 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>MCA &lt;MCA> SEEKS TO LIMIT DIRECTORS' LIABILITY</TITLE>
<DATELINE>    UNIVERSAL CITY, Calif., March 23 - </DATELINE><BODY>MCA Inc said
shareholders at the annual meeting on May Five will be asked to
approve a change to its certificate of incorporation
eliminating certain liabilities of directors to MCA or its
shareholders under Delaware law.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13978" NEWID="8457">
<DATE>23-MAR-1987 14:47:56.43</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;f2106&#31;reute
r f BC-MANHATTAN-NATIONAL-CO   03-23 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>MANHATTAN NATIONAL CORP &lt;MLC> 4TH QTR LOSS</TITLE>
<DATELINE>    NEW YORK, March 23 -
    </DATELINE><BODY>Oper shr loss 20 cts vs loss 81 cts
    Oper net loss 1,042,000 vs loss 4,077,000
    Revs 38.5 mln vs 50.3 mln
    12 mths
    Oper shr loss six cts vs loss 43 cts
    Oper net loss 336,000 vs loss 2,176,000
    Revs 137.8 mln vs 209.1 mln
    NOTE: qtrs 1986 and prior exclude net realized investment
gains of 74,000 dlrs and 644,000 dlrs, respectively, and years
1986 and prior exclude realized investment gains of 642,000
dlrs and 1,979,000 dlrs, respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13979" NEWID="8458">
<DATE>23-MAR-1987 14:49:12.75</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;f2113&#31;reute
r f BC-KIDDIE-PRODUCTS-INC-&lt;   03-23 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>KIDDIE PRODUCTS INC &lt;KIDD> YEAR NET</TITLE>
<DATELINE>    AVON, Mass., March 23 -
    </DATELINE><BODY>Shr 1.25 dlrs vs 1.14 dlrs
    Net 472,254 vs 446,805
    Revs 21.4 mln vs 19.4 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13980" NEWID="8459">
<DATE>23-MAR-1987 14:49:19.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2114&#31;reute
r f BC-TRINOVA-&lt;TNV>-SAYS-MO   03-23 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>TRINOVA &lt;TNV> SAYS MOST PREFERRED CONVERTED</TITLE>
<DATELINE>    MAUMEE, Ohio, March 23 - </DATELINE><BODY>TRINOVA Corp said about 813,000
shares or 95 pct of its 855,255 Series A 4.75 dlr cumulative
convertible preferred shares have been converted to common
stock in response to its call for redemption of the issue at
100 dlrs per share.
    Each preferred share was convertible into 2.25 common
shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13981" NEWID="8460">
<DATE>23-MAR-1987 14:49:31.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2116&#31;reute
d f BC-U.S.-HOME-&lt;UH>-IN-NEW   03-23 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOME &lt;UH> IN NEW CREDIT AGREEMENT</TITLE>
<DATELINE>    HOUSTON, March 23 - </DATELINE><BODY>U.S. Home Corp said it combined two
existing credit and term loan contracts into a new credit
agreement totalling 222.3 mln dlrs with 18 commerical banks.
    The new maturity date is April 30, 1988, it said.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13982" NEWID="8461">
<DATE>23-MAR-1987 14:50:59.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>usa</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2121&#31;reute
u f BC-SWISS-BANKERS-ANNOUNC   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS BANKERS ANNOUNCE CURBS ON BANKING SECRECY</TITLE>
<AUTHOR>    By Peter Conradi, Reuters</AUTHOR>
<DATELINE>    ZURICH, March 23 - </DATELINE><BODY>Swiss bankers announced a series of
measures aimed at preventing abuses of the country's tight
banking secrecy laws as part of a revision of a 10-year-old
voluntary code of conduct.
    The measures follow renewed controversy over the limits of
Swiss secrecy, prompted by recent allegations that both former
Philippine President Ferdinand Marcos and U.S. Officials linked
with the arms-for-Iran scandal had accounts here.
    The Swiss Bankers Association said it wanted to curb the
right of bank clients to hide their identity behind lawyers.
    The association said it would insist that banks identify
anyone doing cash business at the counter worth more than
100,000 francs, down from a current 500,000.
    Banks would continue to be required to identify their
clients in other cases and pledge not actively to help capital
flight, or tax fraud. They would also still face fines of up to
10 mln francs in case of abuse.
    "The Bankers Association is convinced that this new
agreement will give the banks an instrument which will
guarantee banking secrecy and help the standing of Swiss
banking both home and abroad," the statement said.
    The code, once approved by member banks, will go into force
on October 1. The original dates from 1977.
    Controversy surrounding the alleged use and then freezing
of bank accounts here linked with Marcos and with the U.S.
Arms-for-Iran scandal have again directed attention on the
revision of the code.
    The recent busting of a major international drug ring also
gave fresh evidence Swiss banks had been used for "laundering"
drug money.
    The Banking Commission, responsible for overseeing the
banks, said at the end of last year it wanted a drastic
reduction in clients' ability to hide behind lawyers and
fiduciary agents, a proposal criticised by lawyers.
    Steering a middle way, the association said today that
lawyers doing banking business on behalf of clients would in
future have to pledge they were not doing so merely to preserve
the clients' identity nor only for a short period of time.
    Until now, lawyers have only been obliged to sign a form
pledging that their clients are not misusing their anonymity
for illegal purposes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13983" NEWID="8462">
<DATE>23-MAR-1987 14:51:17.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2123&#31;reute
d f BC-SONORA-GOLD-&lt;SONNF>-G   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SONORA GOLD &lt;SONNF> GETS CALIFORNIA EXEMPTION</TITLE>
<DATELINE>    JAMESTOWN, CALIF., March 23 - </DATELINE><BODY>Sonora Gold Corp said it was
advised by a California agency that the company's common shares
can be solicited for trading by brokers in the state.
    The California Department of Corporations said Sonora
common shares will be included in the Eligible Securities List,
allowing brokers and broker-dealers to solicit orders in
California.
    The company also said it poured a dore gold bar, a gold bar
that needs more refining, at a leaching plant in Nevada using
gold from the Jamestown mine in Tuolumne County. The mining,
milling and leaching operations should reach full commercial
production within 90 days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13984" NEWID="8463">
<DATE>23-MAR-1987 14:56:32.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2135&#31;reute
d f BC-ADAGE-&lt;ADGE>-SETS-NEW   03-23 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>ADAGE &lt;ADGE> SETS NEW WORKSTATION PRODUCT</TITLE>
<DATELINE>    PHILADELPHIA, March 23 - </DATELINE><BODY>Adage Inc said it introduced a new
family of workstations compatible with International Business
Machines Corp's &lt;IBM> 5080 Model 2 graphics.
    The company said prices for the Series 6000-II workstations
start at about 20,030 dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13985" NEWID="8464">
<DATE>23-MAR-1987 14:59:55.71</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2140&#31;reute
f f BC-******MOODY'S-DOWNGRA   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S DOWNGRADES TEXAS AIR, AFFIRMS THE EASTERN AIR LINES UNIT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13986" NEWID="8465">
<DATE>23-MAR-1987 15:05:45.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2158&#31;reute
d f BC-DOMINION-&lt;D>-AND-CSX   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>DOMINION &lt;D> AND CSX &lt;CSX> IN JOINT VENTURE</TITLE>
<DATELINE>    RICHMOND, Va., March 23 - </DATELINE><BODY>Dominion Resources Inc said it
will establish a joint venture with CSX Corp's CSX
Transportation Inc to develop electric power cogeneration
projects.
    The new venture, to be called Energy Dominion, is being set
up to consider, evaluate and possibly carry out one or more
cogeneration projects outside Dominion's subsidiary, Virginia
Power's, service area, Dominion said.
    Energy Dominion will consider specific projects on a case
by case basis, concentrating on coal- and gas-fired
cogeneration opportunities in the northeastern U.S., it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13987" NEWID="8466">
<DATE>23-MAR-1987 15:07:27.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2162&#31;reute
d f BC-CFTC-STUDYING-TRANSFE   03-23 0137</UNKNOWN>
<TEXT>&#2;
<TITLE>CFTC STUDYING TRANSFERING SURVEILLANCE COSTS</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Commodity Futures Trading
Commission, CFTC, and the White House budget office are
exploring the possibility of transfering the three mln dlr
annual cost of the commission's surveillance functions to the
private sector, CFTC Chairman Susan Phillips said.
    Phillips told the House Appropriations Agriculture
Subcommittee that the Office of Management and Budget, OMB, had
asked CFTC to study whether the market surveillance
responsibilities could be paid for with user fees.
    CFTC officials said the two agencies were studying whether
commodity exchanges, futures commission merchants or market
users should bear the cost of the surveillance program.
    Phillips told Reuters that CFTC and OMB were expected to
complete the study by mid-April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13988" NEWID="8467">
<DATE>23-MAR-1987 15:10:06.18</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;f2165&#31;reute
r f BC-BELLSOUTH-&lt;BLS>-COMPL   03-23 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>BELLSOUTH &lt;BLS> COMPLETES PURCHASE FOR SHARES</TITLE>
<DATELINE>    ATLANTA, March 23 - </DATELINE><BODY>BellSouth Corp said it completed its
previously-announced agreement to acquire &lt;Dataserv Inc> for an
exchange of shares.
    BellSouth said under the Nov 25, 1986, agreement, it
exchanged one of its common shares for every 13.3 Dataserv
common shares. The exchange reflects the Feb 23 three-for-two
BellSouth stock split, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13989" NEWID="8468">
<DATE>23-MAR-1987 15:11:13.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2169&#31;reute
d f BC-UNITED-&lt;UAL>-TO-BEGIN   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED &lt;UAL> TO BEGIN BURBANK-DENVER ROUTE</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>UAL Inc's United Airlines said it will
offer scheduled service between Burbank, Calif., and Denver,
Colo., starting June five.
    United said it will operate two daily round-trip flights in
the Burbank to Denver market using new Boeing Co &lt;BA> 737-300
aircraft.
    United said as a promotion for its new route it will offer
a bonus of double mileage to all members of its frequent flyer
prgram, Mileage Plus, who fly the Burbank-Denver route during
the first 45 days of service.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13990" NEWID="8469">
<DATE>23-MAR-1987 15:13:01.97</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;f2179&#31;reute
r f BC-MOODY'S-CUTS-TEXAS-AI   03-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S CUTS TEXAS AIR &lt;TEX>, AFFIRMS EASTERN</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Moody's Investors Service Inc said it
downgraded Texas Air Corp's 410 mln dlrs of debt and affirmed
the unit Eastern Air Lines Inc's 703.4 mln dlrs of debt.
    The agency cut Texas Air's senior secured debt to B-3 from
B-2, but affirmed the company's Caa subordinated debt and B-3
junior preferred stock.
    Moody's affirmed Eastern Air's B-3 senior secured debt and
Caa subordinated debt and junior preferred stock.
    The parent's downgrade recognized risks associated with
Texas Air's investment in operating companies that will require
substantial external financing to buy aircraft.
    Moody's also cited Texas Air's secondary position to the
cash flow and assets of its subsidiaries, relative to its
subsidiaries' creditors, and the insufficiency of the holding
company's cash flow to meet fixed charges.
    The agency noted that Texas Air has adequate liquidity to
service its obligations, but cautioned there is no guarantee
that its liquidity will remain stable.
    Moody's said it affirmed Eastern's debt ratings amid
expectations that recent improvements in the unit's operating
measures would be maintained. But it added that a substantial
decline in financial leverage is unlikely.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13991" NEWID="8470">
<DATE>23-MAR-1987 15:13:42.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2183&#31;reute
r f BC-ITT-&lt;ITT>-LONG-DISTAN   03-23 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>ITT &lt;ITT> LONG DISTANCE UNIT LOWERS WATS RATES</TITLE>
<DATELINE>    SECAUCUS, N.J., March 23 - </DATELINE><BODY>International Telephone and
Telegraph Corp said its long distance unit lowered rates for
two of its WATS services.
    ITT said it lowered its SMART-WATS rate an average of 9.3
pct, and its preferred WATS rates four pct.
    In addition to the rate reduction, ITT said it also lowered
its monthly preferred WATS service charge for each location to
925 dlrs, a reduction of 75 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13992" NEWID="8471">
<DATE>23-MAR-1987 15:16:54.51</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;f2202&#31;reute
r f BC-CANADAIR-studying-str   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADAIR STUDYING STRETCH VERSION OF CHALLENGER</TITLE>
<DATELINE>    MONTREAL, March 23 - </DATELINE><BODY>&lt;Bombardier Inc>'s wholly owned
Canadair Ltd said it was continuing to study stretching its
Challenger business jet into a 48-passenger commuter aircraft
and was receiving a favorable reaction to the concept from
potential airline customers.
    The company, in reply to an inquiry, would not comment on a
published report that sale of 200 of the commuter planes was
imminent. Industry analysts said the potential market in North
America was about 50 units.
   The company estimated it would cost between 50 mln and 100
mln Canadian dlrs to develop the stretched commuter Challenger.
It said it had detailed market studies done by outside
consultants and that its salesmen had visited potential U.S.
customers.
    One of its existing short fuselage Challenger jets have
been fitted for 19 passengers for commuter use by Xerox Corp.
&lt;XRX>.
    The stretched commuter version would be suitable for longer
range low-density routes, it said.
    Canadair's parent company, Bombardier Inc, said in response
to an inquiry that no sales of the commuter version were
imminent, but added it was studying markets carefully.
    It also denied reports it may buy an interest in Innotech
Aviation Enterprises Ltd, a Montreal supplier of aircraft
interiors and flilght services, which finished the interiors of
several Challenger jets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13993" NEWID="8472">
<DATE>23-MAR-1987 15:19:04.07</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;f2215&#31;reute
u f BC-REXHAM-&lt;RXH>-GETS-TAK   03-23 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>REXHAM &lt;RXH> GETS TAKEOVER OFFER</TITLE>
<DATELINE>    CHARLOTTE, N.C., March 23 - </DATELINE><BODY>Rexham Corp, a maker of
packaging materials and machinery, said it received an
unsolicited offer of 43 dlrs a share from Nortek Inc &lt;NTK>.
    Nortek, a Providence, R.I., textile manufacturer, has
disclosed it holds 381,050 Rexham shares, or about 9.1 pct of
the outstanding, the company said.
    Rexham said it does not welcome the proposal but added its
board will study the offer and respond in due course.
    Nortek has proposed paying half cash and half Nortek
convertible preferred stock for Rexham, which has about 4.2 mln
shares outstanding.
    The cash portion would include the amount previously paid
for the Rexham stake and the terms of the convertible preferred
stock would be negotiated, the company said.
    Rexham said it received the takeover offer in a letter from
Nortek.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13994" NEWID="8473">
<DATE>23-MAR-1987 15:19:18.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2216&#31;reute
u f BC-BANKERS-HOPEFUL-ON-PH   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKERS HOPEFUL ON PHILIPPINE DEBT TALKS</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>The Philippines and its commercial bank
advisory committee will resume talks tomorrow on what bankers
hope will be the final leg of negotiations for a 9.4 billion
dlr debt rescheduling package.
    Bankers, attending the Inter-American Development Bank
annual meeting here, said the two sides are still working on a
plan that embraces Manila's proposal to pay interest partly
with Philippine investment notes (PIN) instead of cash.
    One senior banker said he hoped that final agreement would
be reached this week but cautioned that a number of major
issues are still outstanding.
    The senior banker said that the remaining issues include
interest rates and the exact form of the investment notes plan.
    However, bankers did not anticipate any accounting problems
for this novel interest payment method.
    Deputy U.S. Comptoller of the Currency Robert Bench said
last week that U.S. bank regulators also had no objection in
principle to the PINs concept because Manila has guaranteed
their ready conversion into cash.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13995" NEWID="8474">
<DATE>23-MAR-1987 15:19:58.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f2218&#31;reute
u f BC-CCC-INVESTMENT-IN-LOA   03-23 0141</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC INVESTMENT IN LOANS, INVENTORIES UP - USDA</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Commodity Credit Corporation,
CCC, had 33.2 billion dlrs invested in commodity loans and
inventories on November 30, 1986, compared to 25.0 billion a
year earlier, the U.S. Agriculture Department said.
    The department said the November 30 loans outstanding
amounted to 20.0 billion dlrs and inventories 13.2 billion. A
year earlier outstanding loans amounted to 17.0 bilion dlrs and
inventories 8.0 billion dlrs, it said.
    The CCC's total net realized loss from operations amounted
to 1,946.32 mln dlrs for the two months ended November 30, 1986
compared to 1,201.6 mln in the same period a year ago.
    As of November 30, CCC's borrowings from the U.S. Treasury
amounted to 13.2 billion dlrs, leaving a statutory borrowing
authority available of 11.8 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13996" NEWID="8475">
<DATE>23-MAR-1987 15:22:28.18</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2224&#31;reute
d f BC-BANCA-D'AMERICA-E-D'I   03-23 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>BANCA D'AMERICA E D'ITALIA 1986 YEAR</TITLE>
<DATELINE>    MILAN, March 23 - </DATELINE><BODY>Net profits for year ended December 31
1986 1.3 billion lire vs 47.3 billion
    Deposits from clients 3,691.0 billion lire vs 3,419.0
billion
    Loans to clients 2,448.0 billion lire vs 2,181.5 billion
    Note: The bank, sold by Bankamerica Corp &lt;BK.N> last
December to West Germany's Deutsche Bank AG &lt;DBKG.F>, said the
sharp fall in net profit reflected various factors including
higher set-asides for risk coverage and a high tax burden.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13997" NEWID="8476">
<DATE>23-MAR-1987 15:22:45.26</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;f2225&#31;reute
r f BC-MOODY'S-CONTINUES-REV   03-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S CONTINUES REVIEW OF TEXAS AIR &lt;TEX> UNIT</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Moody's Investors Service Inc said the
debt ratings of People Express Airlines Inc remain under review
for possible downgrade.
    The agency said that People Express has not legally merged
with Continental Airlines Inc, a unit of Texas Air Corp, even
though the two have integrated their flight operations. Moody's
also cited significant litigation against People.
    Moody's pointed out that neither Texas Air nor Continental
have assumed the debt service obligations of People Express,
which currently carries B-3 senior secured debt and Caa senior
unsecured debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13998" NEWID="8477">
<DATE>23-MAR-1987 15:22:57.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2226&#31;reute
r f BC-NEWMONT-&lt;NGC>-SETS-HI   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWMONT &lt;NGC> SETS HIGHER OUTLAYS, GOLD SALES</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Newmont Gold Co's business plan
forecasts a boost in capital spending and gold production this
year, the preliminary prospectus for its planned offering of
five mln common shares said.
    Following the offering, which was announced last week,
Newmont Mining Corp &lt;NEM> will own at least 90 pct of Newmont
Gold's 104.5 mln outstanding shares, the prospectus said.
Newmont gold is now a 95 pct owned subsidiary of Newmont
Mining.
    The prospectus said Newmont Gold plans capital spending
totaling 69 mln dlrs this year, up from 18 mln dlrs last year.
Spending is expected to decline to 48 mln dlrs in 1988, 20 mln
dlrs in 1989 and four mln dlrs in 1990 before rising to 11 mln
dlrs in 1991.
    The company said it expects to sell 577,000 ounces of gold
this year, up from 474,000 ounces last year.
    It said gold sales are expected to increase to 777,000
ounces in 1988, and 890,000 ounces in 1989 before declining to
884,000 ounces in 1990 and 852,000 ounces in 1991.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13999" NEWID="8478">
<DATE>23-MAR-1987 15:30:10.93</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E Y
&#22;&#22;&#1;f2231&#31;reute
d f BC-ENERGY-ANALYST-PROPOS   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGY ANALYST PROPOSES U.S. OIL TARIFF</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>Energy analyst Edward Krapels said
the United States should consider an oil tariff to keep U.S.
dependence on imports below 50 pct.
    "On the supply side, the argument in favor of a contingent,
variable import tariff is most persuasive," Krapels, president
of Energy Security Analysis, Inc said in a statement at a House
Energy and Power subcommittee hearing.
    "An optimal tariff would be one implemented only if the
international price of crude oil falls below, say, 15 dlrs a
barrel. On the demand side, the obvious policy is an excise tax
on transportation fuels," Krapels said.
    But William Johnson of the Jofree Corp disagreed with the
oil tariff proposal, saying Congress should remove price
controls on natural gas, repeal the windfall profits tax on oil
companies, allow exports of Alaskan oil and provide tax
incentives for U.S. oil production, or, at the least, preserve
exisiting tax incentives for drilling. He also urging filling
the Strategic Petroleum Reserve at a faster rate.
    Richard Adkerson of Arthur Andersen and Co told the
subcommittee oil imports were expected to increase because
funds for exploration and development of domestic oil sources
cannot now be economically justified due to low oil prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14000" NEWID="8479">
<DATE>23-MAR-1987 15:30:30.62</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;f2233&#31;reute
u f BC-SECURITY-CAPITAL-&lt;SCC   03-23 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY CAPITAL &lt;SCC> SUSPENDS DIVIDENDS</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Security Capital Corp said it has
suspended quarterly cash dividend payments indefinitely.
    The company also said its board has withdrawn authroization
for the company to buy its stock on the open market. Its
previous dividend payment was five cts on February 24.
    Security Capital said this action was taken in response to
its continuing operating losses, primarily at Benjamin Franklin
Savings Association, a Houston-based subsidiary.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14001" NEWID="8480">
<DATE>23-MAR-1987 15:31:14.73</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;f2235&#31;reute
u f BC-AUDITORS-LIFT-QUALIFI   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>AUDITORS LIFT QUALIFICATION ON BRUNSWICK &lt;BC></TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Auditors of Brunswick Corp lifted a
four year qualification on the company's financial statements,
vice president-finance Frederick Florjancic told securities
analysts here.
    The financial results for the diversified leisure and
defense/aerospace company had been qualifed by Arthur Andersen
and Co since 1982.
    The qualification related to certain tax liabilities,
amounting to 65 mln dlrs, associated with a medical division
sold by Brunswick in 1982, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14002" NEWID="8481">
<DATE>23-MAR-1987 15:32:32.62</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;f2243&#31;reute
u f BC-ALC-COMMUNICATIONS-CO   03-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>ALC COMMUNICATIONS CORP &lt;ALCC> 1986 LOSS</TITLE>
<DATELINE>    BIRMINGHAM, Mich., March 23 -
    </DATELINE><BODY>Shr loss 4.63 vs loss 2.43
    Net loss 60,780,000 vs loss 28,898,000
    Rev 499.7 mln vs 432.1 mln
    NOTE: 1986 net includes loss of 49.9 mln dlrs for
restructuring charges.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14003" NEWID="8482">
<DATE>23-MAR-1987 15:33:32.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2244&#31;reute
r f BC-sico-sets-name-change   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>SICO SETS NAME CHANGE, REORGANIZATION</TITLE>
<DATELINE>    LONGEUEIL, Quebec, March 23 - </DATELINE><BODY>&lt;Sico Inc> said it changed
its name to Sico Group as part of an administrative
reorganization to decentralize responsibilities based on the
nature of the paint manufacturer's various markets.
    The company said it formed a new subsidiary, Sico
Industries Inc, based in Toronto, to regroup industrial
operations across Canada and those of its own subsidiary
Sterling Inc.
    Sico formed another subsidiary, Sico Canada Inc, to
distribute trade paint products across Canada, except in
Quebec.
    The company said its Sico Quebec Trade Division will be
responsible for all Quebec activities of the company's trade
paints division, whose products are now marketed under the Sico
and Crown Diamond trademarks.
    The Sico Group is the largest Canadian-owned paint and
coatings manufacturer with Canada-wide product distribution, it
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14004" NEWID="8483">
<DATE>23-MAR-1987 15:39:33.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2253&#31;reute
r f BC-uneasy-calm-as-brazil   03-23 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - BRAZIL DEBT DEADLINES LOOM</TITLE>
<AUTHOR>    By Alan Wheatley, Reuters</AUTHOR>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>Slow progress in talks between Brazil and
its major foreign creditors has increased the likelihood that
U.S. banks will declare their loans to Brazil non-performing at
the end of the quarter, bankers said.
    Several banks, citing Brazil's suspension of interest
payments on 68 billion dlrs of its 108 billion dlr foreign debt
and the absence of a coherent economic plan, have already said
they might take such a step, even though it would cost them
tens of millions of dollars in profits.
    An inconclusive meeting here March 22 between central bank
governor Francisco Gros and Brazil's bank advisory committee
can only have stiffened that resolve.
    A nasty row is also looming over 16 billion dlrs of trade
and money-market lines which Brazil froze last month.
    The legal commitment to maintain these credits runs out on
March 31, and the worried talk at the Inter-American
Development Bank annual meeting here is that some disgruntled
bank will sue for repayment, raising the specter of a cascade
of lawsuits and tit-for-tat asset seizures.
    "My gut feeling is that common sense will prevail. But is
there a risk? Yes, the mood out there is pretty nasty," one New
York banker commented.
    Two or three years ago, a showdown between the world's
largest debtor and its largest creditors would have sent shock
waves through the financial markets. But no longer.
    Some U.S. money-center bank stocks fell by about 10 pct in
the immediate aftermath of Brazil's payments halt. But, in the
Eurodeposit markets, which bankers consider to be the most
sensitive gauge of confidence, there was no discernible flight
out of bank instruments and into safer government bonds.
    In fact, the system has calmly withstood the suspension, in
part or in full, of interest payments by countries owing about
150 billion dlrs of the region's total foreign debt of 380
billion.
    Peru, Ecuador, Bolivia, Costa Rica, Honduras, Guatemala and
Nicaragua had all curtailed payments before Brazil.
    The explanation for the fairly relaxed view is that net new
bank lending to Latin America has dried up at the same time as
banks have steadily bolstered their capital base. As a result,
exposure relative to capital has fallen and few now fear for
the collapse of a major bank.
    That is why, banking analysts have said, Citicorp &lt;CCI>
felt emboldened to state early in the day that it might put
Brazil on a cash basis even before interest becomes 90 days
overdue. It would forfeit 190 mln dlrs of profits this year as
a result, but for a company which earned over a billion dlrs in
1986 the setback would be manageable.
    Some other banks are not as strong, however, and a
protracted confrontation with Brazil could still seriously
erode depositor and investor confidence, especially if other
debtors are emboldened to follow suit and press for debt relief.
    Bankers are thus working hard to isolate Brazil. Financing
agreements were reached recently with Chile and Venezuela, an
accord with the Philippines seems to be close at hand, and a
deal with Argentina on new loans and a debt restructuring could
be reached in the next two weeks, bankers say.
    In taking a hard line against wholesale debt relief, the
banks have the clear backing of the Reagan Administration. "All
of us have a stake in the stability of the world banking system
- a debt forgiveness plan that damages commercial banks also
weakens confidence in world financial stability," U.S. Treasury
Secretary James Baker told the IADB meeting.
    Some European bankers, however, argue that capitalization
of interest is already happening in practice and that the banks
ought to face up to the fact and work with the debtors on
longer-term solutions that recognize that not all the interest
can be paid back right away.
    Rigid accounting rules have prevented U.S. banks from
seriously considering adding interest to the principal of a
loan because they would have to declare the loan
non-performing. But, Brazilian central bank governor Gros said,
if the banks are now volunteering to take that step, they might
be more willing to discuss new ideas for debt relief.
    "It's not necessarily an unfavorable development," Gros
said when asked about the prospect of Brazilian loans being put
on a cash basis.
    "We find more room to discuss these things (innovations)
with European banks which have already bitten the bullet."
     What is clear, however, is that banks are so angry and
frustrated with Brazil that they are in no mood to offer quick
concessions.
    A long war of attrition on the debt front lies ahead.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14005" NEWID="8484">
<DATE>23-MAR-1987 15:43:31.42</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;f2264&#31;reute
u f BC-COCA-COLA-ENTERPRISES   03-23 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>COCA-COLA ENTERPRISES &lt;CCE> SELLS DEBT</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Coca-Cola Enterprises Inc is raising
600 mln dlrs through offerings of 10-year notes and debentures
due 2017, said lead manager Salomon Brothers Inc.
    A 300 mln dlr issue of notes was given a 7-7/8 pct coupon
and priced at 99.65 to yield 7.926 pct, or 70 basis points over
Treasuries. The notes are non-callable for seven years.
    An equal-sized offering of debentures was assigned an 8-3/4
pct coupon and priced at 99.40 to yield 8.807 pct, or 115 basis
points over the off-the-run 9-1/4 pct Treasury bonds of 2016.
Non-refundable for 10 years, the debentures will be subject to
a sinking fund beginning in 1998.
    The sinking fund for the debentures will retire five pct of
them a year. The issuer has an option to increase the sinker by
200 pct, giving the debentures an estimated average life of
21.5 years, Salomon said.
    Moody's Investors Service Inc rates the issue A-2, compared
to a AA-minus rating by Standard and Poor's Corp.
    Allen and Co Inc and Merrill Lynch Capital Markets
co-managed the two issues, which were each increased from
initial offerings of 250 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14006" NEWID="8485">
<DATE>23-MAR-1987 15:47:49.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2273&#31;reute
u f BC-A-H-ROBINS-&lt;QRAH>-SEE   03-23 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>A H ROBINS &lt;QRAH> SEEKS ORDER</TITLE>
<DATELINE>    RICHMOND, Va, March 23 - </DATELINE><BODY>A.H. Robins Co said it filed a
motion in the U.S. Bankruptcy Court in Richmond seeking to 
establish an orderly procedure to determine the number of valid
Dalkon Shield claims that must be dealt with in the company's
Chapter 11 case.
    The order would prescribe procedures for the filing and
disposition of objections to certain claims, it said.
    Robins said that 200,000 of the 327,000 claims it has
received should be disallowed.
    Robins said the claims are invalid because they are
duplicates, the claimant is claiming injury from a product
other than the Dalkon shield, claimants did not complete
court-required questionnaires by June 30, 1986, or the claims
were made beyond the April 30, 1986 deadline.
    Robins has sought bankruptcy protection since August 1985
following a flood of lawsuits relating to its intrauterine
Dalkon Shield, alleged to have caused uterine perforations,
sterility, spontaneous abortions and death.
     About 3.3 mln of the shields were sold in over 80
countries between 1971 and 1974, including 2.2 mln in the U.S.
before it was withdrawn from the market.
    A spokesman said Robins has been told to withhold refilng a
reorganization plan pending the determination by a
court-appointed examiner whether other parties are interested
in acquiring Robins.
    It had intended to file a plan in February, but received a
purchase bid which was later withdrawn from American Home
Products Corp.
    American Home products never disclosed details of the
proposed acquisition bid but analysts speculated that American
Home would provide about 1.5 billion dlrs for a separate trust
fund to handle the liability claims.
    Robins said that establishing a procedure for identifying
invalid claims is vital to establishing a plan of
reorganization.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14009" NEWID="8486">
<DATE>23-MAR-1987 15:49:35.67</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2279&#31;reute
f f BC-******U.S.-TREASURY'S   03-23 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. TREASURY'S BAKER SAYS LATINS DELAY ACCEPTANCE OF U.S. COMPROMISE ON
 IADB REFORMS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14007" NEWID="8487">
<DATE>23-MAR-1987 15:50:59.72</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;f2286&#31;reute
d f BC-LESCO-INC-&lt;LSCO>-1ST   03-23 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>LESCO INC &lt;LSCO> 1ST QTR FEB 28 LOSS</TITLE>
<DATELINE>    CLEVELAND, March 23 -
    </DATELINE><BODY>Shr loss 24 cts vs profit three cts
    Net loss 982,779 vs profit 104,418
    Revs 11.2 mln vs 12.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14008" NEWID="8488">
<DATE>23-MAR-1987 15:51:54.30</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;f2288&#31;reute
h f BC-SEISMIC-ENTERPRISES-I   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>SEISMIC ENTERPRISES INC &lt;SEIS> 4TH QTR LOSS</TITLE>
<DATELINE>    HOUSTON, March 23 -
    </DATELINE><BODY>Shr loss eight cts vs profit 10 cts
    Net loss 714,905 vs profit 889,679
    Revs 1,091,461 vs 3,156,569
    Year
    Shr loss five cts vs profit 22 cts
    Net loss 422,037 vs profit 1,850,637
    Revs 6,642,490 vs 7,948,312
    Avg shrs 8,808,323 vs 8,412,822
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14010" NEWID="8489">
<DATE>23-MAR-1987 15:55:06.78</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;f2299&#31;reute
r f BC-ALC-&lt;ALCC>-ANTICIPATE   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>ALC &lt;ALCC> ANTICIPATES 1ST QTR PROFIT</TITLE>
<DATELINE>    BIRMINGHAM, Mich., March 23 - </DATELINE><BODY>ALC Communications Corp said
that because of strong traffic growth and cost reductions it
anticipates reporting a profit for the first quarter of 1987,
versus a loss of 1.4 mln dlrs, or 15 cts a share, for the first
quarter of 1986.
    Earlier, the company reported a net after-tax loss for 1986
of 60.8 mln dlrs, or 4.63 dlrs a share, compared with a loss of
28.9 mln dlrs, or 2.43 dlrs a share, in 1985.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14011" NEWID="8490">
<DATE>23-MAR-1987 15:55:34.50</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;f2300&#31;reute
s f BC-VARLEN-CORP-&lt;VRLN>-DE   03-23 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>VARLEN CORP &lt;VRLN> DECLARES QTLY DIVIDEND</TITLE>
<DATELINE>    NAPERVILLE, Ill., March 23 -
    </DATELINE><BODY>Qtly div 15 cts vs 15 cts prior
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14012" NEWID="8491">
<DATE>23-MAR-1987 15:56:02.65</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;f2302&#31;reute
r f BC-ANALYSIS-AND-TECHNOLO   03-23 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>ANALYSIS AND TECHNOLOGY INC &lt;AATI> HIKES PAYOUT</TITLE>
<DATELINE>    NORTH STONINGTON, Conn., March 23 -
    </DATELINE><BODY>Annual div 11 cts vs 10 cts prior
    Pay April 24
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14013" NEWID="8492">
<DATE>23-MAR-1987 15:56:14.17</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;f2303&#31;reute
r f BC-CORRECTION---MOODY'S   03-23 0039</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - MOODY'S CUTS TEXAS AIR
    In New York item headlined "Moody's Cuts Texas Air &lt;TEX>,
Affirms Eastern," Moody's corrects that it lowered Texas Air's
senior unsecured debt to B-3 from B-2, not the company's senior
secured debt.
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14014" NEWID="8493">
<DATE>23-MAR-1987 15:56:35.76</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2304&#31;reute
d f AM-IRAQ-OIL   03-23 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ REPLACES OIL MINISTER IN BIG GOVT SHUFFLE</TITLE>
<DATELINE>    BAGHDAD, March 23 - </DATELINE><BODY>Iraqi President Saddam Hussein carried
out his first major government shakeup in five years tonight,
naming a new oil minister in shuffling three posts.
    One minister was dropped in the shuffle, announced in a
presidential decree. It gave no reason for the changes in the
government of the Arab Baath Socialist Party which has ruled
Iraq since a revolution in 1968.
    The decree named the head of the Iraqi National Oil Company
(INOC), Isam Abdul-Rahim al-Chalaby, to take over as oil
minister replacing Qassem Ahmed Taqi.
    Taqi, appointed oil minister in the last significant
government reorganization in 1982, was moved to be minister of
heavy industries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14015" NEWID="8494">
<DATE>23-MAR-1987 15:57:05.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2306&#31;reute
r f BC-ANCHOR-SAVINGS-BANK-M   03-23 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>ANCHOR SAVINGS BANK MEMBERS APPROVE CONVERSION</TITLE>
<DATELINE>    NORTHPORT, N.Y., March 23 - </DATELINE><BODY>Anchor Savings Bank board of
trustees said a requisite majority of depositors and borrowers,
by a vote of 37,531,576 to 714,490, approved Anchor's plan to
convert from a federally chartered mutual savings bank to a
federally chartered stock savings bank.
    Anchor had assets of 7.3 billion dlrs as of June 30, 1986,
it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14016" NEWID="8495">
<DATE>23-MAR-1987 15:57:38.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2308&#31;reute
r f BC-MOODY'S-MAY-CUT-ECOLA   03-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S MAY CUT ECOLAB &lt;ECL>, UP CHEMLAWN &lt;CHEM></TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Moody's Investors Service Inc said it
may downgrade the ratings of Ecolab Inc's 25 mln dlrs of debt
and upgrade ChemLawn Corp's 15 mln dlrs of debt.
    The agency cited Ecolab's definitive agreement to acquire
ChemLawn for 370 mln dlrs.
    "The acquisition should be financed initially with bank
debt that, together with the assumption of ChemLawn's debt,
could raise significantly Ecolab's leverage.
    Under review are Ecolab's A-3 convertible subordinated
debentures and the convertible Eurodebt of its unit, E.L.
International Ltd. ChemLawn has B-1 convertible debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14017" NEWID="8496">
<DATE>23-MAR-1987 16:02:29.10</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;f2322&#31;reute
u f BC-CAESARS-&lt;CAW>-HAS-NO   03-23 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>CAESARS &lt;CAW> HAS NO COMMENT ON MTS TALKS</TITLE>
<DATELINE>    LOS ANGELES, March 23 - </DATELINE><BODY>Caesars World Inc declined
immediate comment on news that Martin Sosnoff's &lt;MTS
Acquisition Corp> has held preliminary talks with two companies
on the possibility of forming a joint venture to pursue the
acquisition of Caesars.
    Earlier today MTS said it held talks with Pratt Hotel Corp
&lt;PRAT> and Southmark Corp &lt;SM> on forming a venture to acquire
Caesars.
    MTS also reported that it received a "negligible" number of
Caesars World shares in response to its 28 dlr per share tender
offer.
    Earlier this month Caesars World rejected the Sosnoff
takeover bid and said it is considering alternatives that
include a restructuring or sale of the company to another
party.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14018" NEWID="8497">
<DATE>23-MAR-1987 16:04:04.25</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;f2326&#31;reute
u f BC-DIXONS-SAYS-CITICORP   03-23 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DIXONS SAYS CITICORP TO WITHDRAW CYCLOPS OFFER</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>&lt;Dixons Group PLC> said it received a
letter on March 19 from Citicorp Capital Investors Ltd, part of
the Cyacq investor group making a rival bid for Cyclops Corp
&lt;CYL>, proposing to drop the group's offer if Dixons would sell
Cyclops industrial businesses to Citicorp.
    "Cyacq's main equity investor appears ready to pull out and
deal directly with us for merely part of the company" said
Dixons. "It raises questions as to the strength of their
consortium and the purpose of their offer."
    Dixons also said a U.S. Federal Court had refused a request
by counsel for Cyacq, Audio/Video Affiliates Inc &lt;AVA> and a
shareholder plaintiff to prevent Dixons from
completing its tender offer for Cyclops. It also said the court
refused to require Cyclops to provide Cyacq with confidential
information previously provided to Dixons.
    On Friday Cyacq Corp, an investor group led by Audio/Video
Affiliates and Citicorp, raised their offer for Cyclops to
92.50 dlrs per share from 80 dlrs per share, if certain
conditions were satisfied.
    Last week Dixons said it won out over rival bidders for
Cyclops after getting 54 pct of Cyclop's oustanding with a
90.25 dlr or 384 mln dlr tender offer that expired March 18.
    On Friday, Dixons agreed to reopen its tender offer until
March 25, Wednesday.
    Dixons today called Cyacq's higher 92.50 dlr a share offer
for Cyclops "highly conditional."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14019" NEWID="8498">
<DATE>23-MAR-1987 16:04:49.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2330&#31;reute
d f BC-TALKS-BETWEEN-UK,-ISL   03-23 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>UK DISCUSSES INSIDER TRADING WITH CHANNEL ISLANDS</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Talks have occurred between Britain and
the offshore financial centers of the Channel Islands and the
Isle of Man aimed at reaching a pact to limit insider dealing,
Corporate Affairs Minister Michael Howard said.
    He told Parliament in a written answer that "there have been
informal talks at official level. I would hope, in due course,
to arrive at arrangements" along the lines of an agreed policy
to curb trading which uses privileged information.
    The Channel Islands and the Isle of Man are
constitutionally independent of Britain's parliament, and have
fiscal regimes sympathetic to business and the accumulation of
capital.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14020" NEWID="8499">
<DATE>23-MAR-1987 16:08:13.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2334&#31;reute
u f AM-ld bolivia  03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKS BEGIN TO END BOLIVIAN MINERS' STRIKE</TITLE>
<DATELINE>    LA PAZ, March 23 - </DATELINE><BODY>Union leaders of 9,000 miners employed
by the state corporation Comibol began talks with the
government today on ways on ways to solve their strike over
pay, a mining ministry spokesman said.
    Labour minister, Alfredo Franco, met with Juan Lechin
Oquendo, the veteran secretary general of the Bolivian Labour
Organization (cob) and Victor Reyes, the miners federation top
leader, at the mining ministry, he said.
    "This time we shall start negotiations but continue with
our moves to press the government until a solution is found for
our demands," Lechin told reporters shortly before the talks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14021" NEWID="8500">
<DATE>23-MAR-1987 16:08:30.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2335&#31;reute
u f BC-SHAD   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>JUDGE, EX-SENATOR AMONG CONTENDERS FOR SEC POST</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>A federal judge and a former U.S.
senator are among the top contenders to replace John Shad as
chairman of the federal Securities and Exchange Commission
(SEC), government sources said.
    Also on the list of possible replacements are two current
SEC commissioners, said the sources who asked not to be named.
    Last week the White House said it would name Shad U.S.
ambassador to the Netherlands. Among those most frequently
placed on the short list of Shad's possible successors were
Kevin Duffy, a New York federal judge, and Nicholas Brady, who
served about eight months in the Senate in 1981.
    Brady, currently a managing partner with the New York
investment banking firm of Dillon, Read and Co Inc, was an
interim replacement for Sen. Harrison Williams (D-N.J.) after
Williams resigned in a congressional bribery scandal. Duffy was
SEC New York regional administrator during 1969-72.
    However, congressional sources speculated Brady may be
unwilling to take the SEC post because he is active in Vice
President George Bush's presidential campaign.
    The SEC commissioners said to be possible replacements for
Shad are Charles Cox and Edward Fleischman.
    Fleischman was a New York securities lawyer before his SEC
appointment while Cox was the commission's chief economist.
    Sen. William Proxmire, the Wisconsin Democrat whose Senate
Banking Committee would hold confirmation hearings on the new
chairman, said he hoped that Shad's successor "would be very
supportive of the division of enforcement's on-going
investigation of the scandals on Wall Street and would be
someone who did not come directly from the industry."
    The White House said on Friday it would nominate Shad, 63,
to succeed L. Paul Bremer as the U.S. ambassador to the
Netherlands.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14022" NEWID="8501">
<DATE>23-MAR-1987 16:12:30.14</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;f2344&#31;reute
s f BC-PRIMARK-CORP-&lt;PMK>-RE   03-23 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>PRIMARK CORP &lt;PMK> REGULAR DIVIDEND</TITLE>
<DATELINE>    MCLEAN, Va., March 23 -
    </DATELINE><BODY>Qtly div 32.5 cts vs 32.5 cts in prior qtr
    Payable Mary 15
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14023" NEWID="8502">
<DATE>23-MAR-1987 16:12:36.63</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;f2345&#31;reute
s f BC-SAXON-OIL-DEVELOPMENT   03-23 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>SAXON OIL DEVELOPMENT PARTNERS &lt;SAX> IN PAYOUT</TITLE>
<DATELINE>    DALLAS, March 23 -
    </DATELINE><BODY>Qtly div two cts vs two cts prior
    Pay May 15
    Record March 31
    NOTE: Full name Saxon Oil Development Partners LP.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14024" NEWID="8503">
<DATE>23-MAR-1987 16:13:08.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>bolivia</D><D>west-germany</D></PLACES>
<PEOPLE><D>von-weizsaecker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2346&#31;reute
d f AM-weizsaecker   03-23 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>W. GERMANY, BOLIVIA SIGN TWO COOPERATION PACTS</TITLE>
<DATELINE>    LA PAZ, March 23 - </DATELINE><BODY>West Germany and Bolivia signed two
cooperation treaties today expected to nearly double the amount
of overall aid the south american country receives from its
european trade partner, german officials said.
    Paul Resch, economic attache for the west german embassy,
told reuters that Germany had become the biggest european
community lender to bolivia.
    West german aid to Bolivia last year totalled 50 mln marks
and officials travelling with President Richard Von Weizsaecker
said overall aid to Bolivia is expected to reach 91 mln marks
this year.
    Weizsaecker is expected to announce the figure in a major
speech later today at the bolivian congress, the officials
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14025" NEWID="8504">
<DATE>23-MAR-1987 16:16:34.08</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;f2352&#31;reute
u f BC-SECURITY-PACIFIC-&lt;SPC   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY PACIFIC &lt;SPC> REGISTERS DEBT</TITLE>
<DATELINE>    LOS ANGELES, March 23 - </DATELINE><BODY>Security Pacific Corp said it filed
a registration statement with the Securities and Exchange
Commission covering 500 mln dlrs of subordinated debt
securities.
    Terms of the debt securities will be determined by market
conditions at the time of sale, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14026" NEWID="8505">
<DATE>23-MAR-1987 16:17:02.84</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;f2354&#31;reute
r f BC-UNOCAL-&lt;UCL>-SELLS-SE   03-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>UNOCAL &lt;UCL> SELLS SEVEN AND 10-YEAR NOTES</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Unocal Corp is raising 450 mln dlrs
through a two-tranche offering of notes, said lead manager
Merrill Lynch Capital Markets.
    A 150 mln issue of seven-year notes was given an 8-1/2 pct
coupon and par pricing to yield 145 basis points more than
comparable Treasuries. They are non-callable for life.
    A 300 mln dlr offering of notes due 1997 was assigned an
8-3/4 pct coupon and priced at 99.447 to yield 8.834 pct, or
160 basis points over Treasuries. Non-callable for seven years,
this issue was doubled from an initial offering of 150 mln
dlrs, Merrill said.
    Moody's Investors Service Inc rates the Unocal notes Baa-3
and Standard and Poor's Corp rates them BBB-minus.
    Shearson Lehman Brothers Inc co-managed the two-tranche
deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14027" NEWID="8506">
<DATE>23-MAR-1987 16:17:13.90</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;f2355&#31;reute
u f BC-IBM-&lt;IBM>-REBOUND-SEE   03-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>IBM &lt;IBM> REBOUND SEEN BY BERNSTEIN ANALYST</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>International Business Machines Corp,
hit by a two-year earnings slump, should begin a come-back by
the end of 1987 and post strong growth in 1988, analyst Rick
Martin of Sanford C. Bernstein Co Inc said.
    "There will be increasing momentum in earnings, albeit not
until later this year," Martin said at a technology conference
sponsored by the investment firm.
    Martin said the coming rebound reflects new product
introductions in the mid-range area, rather than any drastic
improvement in economic growth or U.S. capital spending.
    IBM, whose stock hit a 52-week low of 115-3/4 dlrs in
mid-January, has come back lately. IBM was trading up 7/8 at
149-1/2 dlrs.
    Analysts, computer industry executives, and the company
itself, have highlighted the external economic factors
hampering IBM's growth.
    But Martin said the product cycle was key to understanding
the rise and fall of IBM and other computer companies, and
pointed to Digital Equipment Corp &lt;DEC> to support his view.
"By replacing the product line, earnings have soared," he said
of DEC's line of VAX computers.
    In contrast to DEC, IBM faultered with an incompatible
mid-range product line. A new computer code-named "Fort Knox"
was supposed to tie together a number of IBM's mid-range
systems, but the product never got off the ground, he said.
    Instead, aspects of the computer were integrated into the
IBM 9370 machine introduced last year, and other aspects should
be unwrapped by 1988, Martin said. "The major story will be a
rebound in its mid-range business."
    He said sales of IBM's mid-range computers fell about 13
pct in 1986. But the new products will lead to 5.8 pct growth
in mid-range computers this year and 30.7 pct growth in 1988.
    High-end computers, primarily the Sierra line, are coming
to the end of their product life cycle. Although growing 22.5
pct in the midst of IBM's sharply lower 1986 year, growth will
drop to 1.5 pct in 1987 and 1.9 pct in 1988, he said.
    By 1988, overall revenue growth should rise to about 16
pct, against 5.8 pct growth in 1987 and 2.4 pct in 1986, Martin
said. Last year, IBM earned 4.8 billion dlrs on revenues of
51.3 billion dlrs.
    Investors asked what this all meant to DEC, whose earnings
and stock have been propelled by a strong slew of product
introductions in the mid-range area.
    In response, Martin said he did not view IBM as a threat to
DEC, nor DEC as a threat to IBM, because both companies were
catering largely to existing customer bases, rather than
stealing market share from one another.
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14028" NEWID="8507">
<DATE>23-MAR-1987 16:17:44.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2359&#31;reute
r f BC-ADVANCED-VIRAL-RESEAR   03-23 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>ADVANCED VIRAL RESEARCH PLANT SET FOR APPROVAL</TITLE>
<DATELINE>    MIAMI BEACH, Fla., March 23 - </DATELINE><BODY>&lt;Advanced Viral Research 
Corp> said its facility to manufacture reticulose, an anti-
viral agent, is ready for FDA inspection.
    The company said it will make a formal request for the
review by the end of March.
    The company said if the facility is approved, initial tests
and trials on AIDS patients will start soon afterward.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14029" NEWID="8508">
<DATE>23-MAR-1987 16:18:13.62</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2362&#31;reute
f f BC-******U.S.-SELLS-3-MO   03-23 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SELLS 3-MO BILLS AT 5.55 PCT, STOP 5.56 PCT, 6-MO 5.55 PCT, STOP 5.55 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14030" NEWID="8509">
<DATE>23-MAR-1987 16:22:37.90</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;f2369&#31;reute
u f BC-CITICORP-(CCI)-SEEKS   03-23 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CITICORP (CCI) SEEKS CYCLOPS &lt;CYL> STEEL UNIT</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>Citicorp Capital Investors Ltd, a
unit of Citicorp, said it wants to buy Cyclops Corp's steel
assets from Dixons Group PLC and is willing to pay 124.4 mln
dlrs, nearly 13 mln dlrs more than had been offered for the
assets by Alleghany Corp.
    The disclosure of the Citicorp unit's interest in Cyclops'
Industrial Group came in disclosure documents filed by Dixons
Group with the Securities and Exchange Commission.
    Alleghany's MSL Industries Inc unit had agreed to buy the
steel assets from Dixons Group for 111.6 mln dlrs.
    Dixons Group has tendered for all outstanding Cyclops
shares at 90.25 dlrs a share in cash.
    The Citicorp unit said its higher offer came to about three
dlrs more for each Cyclops share outstanding.
    As a condition of its offer, it said Dixons would have to
increase the cash price it was to pay for each Cyclops share to
93.25 dlrs in cash.
    Dixons on Friday extended the expiration time of its tender
offer until midnight (EST) March 24.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14031" NEWID="8510">
<DATE>23-MAR-1987 16:23:24.59</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;f2370&#31;reute
r f BC-BRUNSWICK-&lt;BC>-SEES-H   03-23 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>BRUNSWICK &lt;BC> SEES HIGHER 1987 FIRST QUARTER</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Brunswick Corp expects 1987 first
quarter sales to be up "dramatically" and profits to "do well,"
chairman and president Jack Reichert said after a securities
analysts meeting.
    He declined to be more specific.
    In the 1986 first quarter, Brunswick reported earnings of
23.8 mln dlrs or 57 cts a share on sales of 396.7 mln dlrs.
    Reichart noted that results of its two newly-acquired boat
manufacturing companies will be included in the company's first
quarter report.
    Brunswick expects its recreation centers to benefit from
increased attention to the sport of bowling resulting from
acceptance in the 1988 Summer Olympics of bowling as an
exhibition sport and as a medal sport in the 1991 Pan American
Games, he said.
    He said field testing of a new bowling concept involving
electronic features is being readied for test marketing this
summer, and if successful, could "materially benefit"
operations.
    Brunswick is currently test marketing in California a
health club facility adjoining a bowling center, he said.
    Turning to its defense operations, Reichert said he expects
the division to receive significant contracts in the near
future. At 1986 year end, Brunswick's defense contract backlog
stood at 425 mln dlrs.
    Frederick Florjancic, vice president-finance, told analysts
Brunswick was disappointed two credit rating services recently
downgraded the company's debt which stood at about 665.4 mln
dlrs at 1986 year end.
    "We are confident we can service our debt and bring it down
in the very near term," based on strong cash flow from
Brunswick's expanded boat operations, Florjancic said.
    Shareholders at the company's April 27 annual shareholders
meeting will be asked to approve an increase in the authorized
common shares outstanding to 200 mln from 100 mln shares, a
company spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14032" NEWID="8511">
<DATE>23-MAR-1987 16:23:33.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f2371&#31;reute
d f AM-YUGOSLAVIA-PRICES   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>INSPECTORS TO CHECK PRICE LEVELS IN YUGOSLAVIA</TITLE>
<DATELINE>    BELGRADE, March 23 - </DATELINE><BODY>On thursday some 1,350 inspectors will
check whether merchants in Yugoslavia have fully complied with
government orders to roll back prices, the official Tanjug news
agency said.
    The government of Prime Minister Branko Mikulic last friday
ordered the roll back of prices to the end of 1986 level on all
products the cost of which has increased over 20.3 pct in the
first two months of 1987, as the country's inflation soared
towards 100 pct.
    Tanjug said over 19,000 products will be affected. It said
that the price of some 4,933 industrial food products has gone
up in January an February from 104 to 775 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14033" NEWID="8512">
<DATE>23-MAR-1987 16:23:58.62</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;f2372&#31;reute
u f BC-MARK-IV-&lt;IV>-UNIT-TO   03-23 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>MARK IV &lt;IV> UNIT TO BEGIN CONRAC &lt;CAX> TENDER</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Mark IV Industries Inc said it plans
to begin a tender offer at 25 dlrs a share for all outstanding
shares of Conrac Corp &lt;CAX>, a Stamford, Conn., maker of
control instruments and telecommunications products.
    Mark IV said it owns about 670,400 shares or about 9.9 pct
of Conrac's outstanding shares.
    The offer, to be made through Mark IV Acquisition Corp, a
wholly owned subsidiary, will not be conditioned on any minimum
number of shares being tendered, the company said.
    The tender offer will be conditioned upon, among other
things, the completion of financing arrangements.
    The terms and conditions of the offer will be described in
documents to be filed with the Securities and Exchange
Commission and mailed to Conrac shareholders as soon as
possible.
    Bear Stearns and Co is expected to act as dealer manager
for the offer, it said.
    A Conrac spokesman declined comment.
    Conrac has about 6.75 mln shares outstanding. Its shares
closed off 1-3/8 at 21-1/8 as about 84,400 shares changed
hands.
    Mark IV is a Williamsville, N.Y., maker of pastic products
and industrial control equipment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14034" NEWID="8513">
<DATE>23-MAR-1987 16:27:33.69</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;f2383&#31;reute
u f BC-WEATHERFORD-&lt;WII>-SUS   03-23 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>WEATHERFORD &lt;WII> SUSPENDS PREFERRED PAYOUTS</TITLE>
<DATELINE>    HOUSTON, March 23 - </DATELINE><BODY>Weatherford International said it
suspended indefinitely payment of its regular quarterly
dividend of 65.6 cts per share on its 2.625 convertible
exchangeable cumulative preferred stock.
    Weatherford said this will be the sixth non-payment of the
dividend on the stock. It said payment would have been on April
15, 1987.
    Weatherford also said the holders of the preferred stock
will have the right to elect two additional directors to the
board of directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14035" NEWID="8514">
<DATE>23-MAR-1987 16:28:45.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2388&#31;reute
d f BC-MHI-GROUP-&lt;MH>-AFFILI   03-23 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>MHI GROUP &lt;MH> AFFILIATED WITH CEMETARY OFFER</TITLE>
<DATELINE>    TALLAHASSEE, Fla., March 23 - </DATELINE><BODY>MHI Group Inc said it is
affiliated with several investors who have entered into a
letter of intent providing for the purchase of Star of David
Memorial Gardens and Cemetery.
    The company said those investors will, under certain
circumstances, cede their rights under the letter of intent and
any definitive agreement to purchase the Fort Lauderdale, Fla.,
funeral home and cemetery business to MHI.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14036" NEWID="8515">
<DATE>23-MAR-1987 16:29:14.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2389&#31;reute
d f BC-LOTUS-&lt;LOTS>-EXTENDS   03-23 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>LOTUS &lt;LOTS> EXTENDS SYMPHONY UPGRADE</TITLE>
<DATELINE>    CAMBRIDGE, Mass, March 23 - </DATELINE><BODY>Lotus Development Corp said it
will extend its Lotus Symphony 1.2 upgrade program
indefinitely.
    The program, which began shipping in September 1986, was
originally expected to run through March 31, 1987.
    Lotus Symphony 1.2 is designed to enhance Lotus' 1-2-3
spreadsheet technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14037" NEWID="8516">
<DATE>23-MAR-1987 16:31:12.37</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>iraq</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2393&#31;reute
r f AM-GULF-IRAQ 1STLD  03-23 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ REPORTS ATTACKS ON SUPERTANKER, OIL TARGETS</TITLE>
<DATELINE>    BAGHDAD, March 23 - </DATELINE><BODY>Iraq said its warplanes had attacked a
supertanker and four Iranian oil sites and vowed to keep up
such raids until the Gulf war ends.
    The surprise escalation of attacks on oil installations
broke more than a month-long lull in Iraqi air force action.
    It also followed celebrations yesterday of what Baghdad
hailed as Iran's failure to achieve victory during the Iranian
year which ended on Saturday.
    A high command communique said warplanes hit the western
jetty at Iran's Kharg island oil terminal in the afternoon and
struck a supertanker nearby at the same time.
    The Kharg terminal, attacked about 135 times since August
1985, was last raided in January.
    The communique did not identify the supertanker, but said
columns of smoke were seen billowing from it.
    In London, Lloyds insurance said the 162,046-ton Iranian
tanker Avaj was hit on Saturday, when Iraq reported an earlier
Gulf attack.
    But there has been no independent confirmation of today's
supertanker attack nor of other raids on shipping reported by
Baghdad in the past 24 hours.
    The last confirmed Iraqi attack took place on March 8, when
the Iranian tanker Khark-5 was hit south of Kharg.
    Iraqi warplanes also struck Iran's offshore oilfields at
Nowruz, Cyrus and Ardeshir in northern gulf, some 80 km (50
miles) west of Kharg island, today's communique said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14038" NEWID="8517">
<DATE>23-MAR-1987 16:31:27.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cboe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f2394&#31;reute
u f BC-COMMUNICATION-PROBLEM   03-23 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMUNICATION PROBLEMS AFFECTING CBOE QUOTES</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>The Chicago Board Options Exchange,
CBOE, said that due to telecommunications problems, last sale
prices, market quotes and index values are updating
intermittently.
    The exchange said the problem affected prices from 1456 CST
(2056 GMT). Trading in options at the CBOE closes at 1515 CST
(2115 GMT).
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14039" NEWID="8518">
<DATE>23-MAR-1987 16:38:31.82</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;f2408&#31;reute
b f BC-HARCOURT-&lt;HBJ>-DISAPP   03-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>HARCOURT &lt;HBJ> DISAPPOINTED WITH HARPER &lt;HPR></TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Harcourt Brace Jovanovich Inc said it
is disappointed that no negotiations with Harper and Row
Publishers Inc are underway.
    Harcourt made a 50 dlrs a share unsolicited bid on March
11.
    On March 17, Harcourt said three of its officers met with
Harper's financial advisor but has had no discussions since
then.
    Harcourt said it does not plan to increase its bid.
    Harcourt's bid was preceded by an earlier 34 dlrs a share
bid by Theodore Cross.
    Harper had no response to Harcourt's announcement. Earlier
today, Harper said a recently appointed special committee of
independent directors had received expressions of interest from
several domestic and foreign firms with respect to
restructuring or acquisition transactions.
    Harper said no determination had been made as to any
transaction and that its special committee is continuing in
talks with interested parties in an effort to come to a
conclusion in the near future.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14040" NEWID="8519">
<DATE>23-MAR-1987 16:39:11.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A RM
&#22;&#22;&#1;f2409&#31;reute
b f BC-CANADA-PLANS-TWO-BOND   03-23 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA PLANS TWO BOND AUCTIONS</TITLE>
<DATELINE>    OTTAWA, March 23 - </DATELINE><BODY>Canada plans an auction of three-year
bonds March 31 and an auction of seven-year bonds April 1, the
finance department said.
    Further details would be announced March 25 on the bonds
that will be dated and delivered April 16, 1987.
    The department said the issues are contingent upon final
Parliamentary authority being given to Bill C-40, a previously
announced act to give the government supplementary borrowing
authority for fiscal 1987 (March 31) and borrowing authority
for fiscal 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14041" NEWID="8520">
<DATE>23-MAR-1987 16:41:39.19</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;f2413&#31;reute
u f BC-CLUB-MED-INC-&lt;CMI>-1S   03-23 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>CLUB MED INC &lt;CMI> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    NEW YORK, March 23 -
    </DATELINE><BODY>Shr 41 cts vs 38 cts
    Net 5,630,000 vs 5,152,000
    Revs 97.1 mln vs 85.4 mln
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14042" NEWID="8521">
<DATE>23-MAR-1987 16:45:05.24</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;f2421&#31;reute
d f BC-DRIVER-HARRIS-CO-&lt;DRH   03-23 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>DRIVER-HARRIS CO &lt;DRH> 4TH QTR NET</TITLE>
<DATELINE>    HARRISON, N.J., March 23 -
    </DATELINE><BODY>Shr profit 22 cts vs loss 2.15 dlrs
    Net profit 271,000 vs loss 2,530,000
    Revs 16.3 mln vs 15.2 mln
    Avg shr 1,238,000 and 1,177,000
    12 mths
    Shr profit 82 cts vs loss 2.14 dlrs
    Net profit 982,000 vs loss 2,517,000
    Revs 66.5 mln vs 64.5 mln
    Avg shrs 1,193,000 vs 1,177,000
    NOTE: net loss 1985 yr and qtr includes a charge of
1,042,000, or 89 cts per share, for expenses related to
restructuring of company's domestic alloy business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14043" NEWID="8522">
<DATE>23-MAR-1987 16:46:23.34</DATE>
<TOPICS><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;f2425&#31;reute
b f BC-/1987-U.S.-SOYBEAN-LO   03-23 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>1987 U.S. SOYBEAN LOAN SHOULD STAY SAME-AMSTUTZ</TITLE>
<DATELINE>    WASHINGTON, MARCH 23 - </DATELINE><BODY>Congress should give the U.S.
Agriculture Secretary the authority to keep the 1987 soybean
loan rate at the current effective rate of 4.56 dlrs per bushel
in order to help resolve the problem of soybean export
competitiveness, USDA undersecretary Dan Amstutz said.
    Speaking to reporters following a Senate Agriculture
Appropriations hearing, Amstutz suggested that one way out of
the current soybean program "dilemma" would be for Congress to
allow the loan rate to remain at 4.56 dlrs. He indicated if the
loan rate were 4.56 dlrs, USDA could then consider ways to make
U.S. soybeans more competitive such as using certificates to
further buydown the loan rate.
    Under current law, the 1987 soybean loan rate cannot be
less than 4.77 dlrs per bu.
    Amstutz' suggestion would be for Congress to change the
farm bill to allow USDA to leave the soybean loan rate at 4.56
dlrs in crop year 1987 rather than increase it to 4.77 dlrs.
    The 1986 effective loan rate is 4.56 dlrs because of the
4.3 pct Gramm-Rudman budget cut.
    Amstutz stressed that a major factor in any decision on
soybean program changes will be the budget costs.
    He told the hearing that the problem in soybeans is that
the U.S. loan rate provides an "umbrella" to foreign production
and causes competitive problems for U.S. soybeans.
    Asked about the American Soybean Association's request for
some form of income support, Amstutz said "the competitive
problem is the most severe." He said USDA is still studying the
situation and "no resolution" has yet been found.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14044" NEWID="8523">
<DATE>23-MAR-1987 16:47:33.43</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;f2428&#31;reute
u f BC-CANADA-BANK-DEREGULAT   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA BANK DEREGULATION TALKS MAKE PROGRESS</TITLE>
<DATELINE>    OTTAWA, March 23 - </DATELINE><BODY>Canada's Minister of State for Finance,
Tom Hockin, said substantial progress was made today with his
provincial counterparts on deregulation of the country's
financial system, but stumbling blocks remain.
    "We were able to make considerable headway," Hockin told
reporters following a six-hour meeting with provincial
ministers responsible for financial institutions.
    Hockin said he was optimistic an agreement could be reached
by the June 30 deadline to bring the sweeping new system in
place, but he was willing to extend it if necessary.
    Under the proposed system the traditional barriers
separating the banking, securities and life insurance sectors
will be removed and, for the first time, cross ownership will
be allowed.
    But a jurisdictional dispute over who regulates the new
institutions has broken out between the provinces and Ottawa.
The provinces have traditionally had authority over securities
while Ottawa held sway over banking.
    Hockin, without giving details, said under the new system
the regulatory system would have to be harmonized to "insure
orderly and efficient markets."
    Hockin said he made it clear to the provinces that Ottawa
has jurisdiction in any international accords in the financial
sector and would not allow any intrusion by the provinces in
that area.
    Hockin said the ministers did not have time to go into
detail on all the issues and the talks would continue the rest
of this week at the official level.
                 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14045" NEWID="8524">
<DATE>23-MAR-1987 16:49:06.48</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2434&#31;reute
f f BC-******INLAND-STEEL,-N   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>INLAND STEEL, NIPPON STEEL TO FORM JOINT COLD ROLLED SHEET STEEL VENTURE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14046" NEWID="8525">
<DATE>23-MAR-1987 16:49:42.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2438&#31;reute
u f BC-TEXAS-INSTRUMENTS-&lt;TX   03-23 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS INSTRUMENTS &lt;TXN> CHIP PACT APPROVED</TITLE>
<DATELINE>    DALLAS, March 23 - </DATELINE><BODY>Texas Instruments Inc said the 
International Trade Commission approved its previously
disclosed settlement of a patent dispute with a number of
Japanese semiconductor companies.
    According to the settlement, Texas Instruments said it will
receive fixed royalty payments of about 134 mln dlrs through
1990.
    The company said the payments will make a major
contribution to first quarter 1987 net income.
    The company said it will record a pre-tax, pre-profit
sharing, gain of 108 mln dlrs in the first quarter 1987.
    It also said the agreements provide for payment of per unit
royalty payments which may exceed the amount of the fixed
royalty payments, depending on production of the chips by the
licensees. The per unit payments will be made starting in the
second quarter.
    The companies included in the settlement are &lt;Fujitsu Ltd>,
Matsushita Electric Industrial Co Ltd &lt;MC>, &lt;Mitsubishi Corp>,
&lt;Oki>, &lt;Sharp Corp> and &lt;Toshiba Corp>.
    The company said the dispute is still continuing with
Hitachi Ltd &lt;HIT>, NEC Corp &lt;NIPNY>, and &lt;Samsung>.
    The company said the presiding judge of the International
Trade Commission decided to terminate the investigation against
NEC, but Texas Instruments will appeal the action to the full
trade commission.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14047" NEWID="8526">
<DATE>23-MAR-1987 16:53:49.79</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;f2458&#31;reute
r f BC-COOPER-DEVELOPMENT-&lt;B   03-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>COOPER DEVELOPMENT &lt;BUGS> RESTATES RESULTS</TITLE>
<DATELINE>    PALO ALTO, Calif., March 23 - </DATELINE><BODY>Cooper Development Co said it
revised results for the year ended October 31 to a loss of 61.7
mln dlrs, or 2.33 dlrs per share, down from the
previously-reported loss of 12.1 mln dlrs, or 46 cts per share.
    The restatement was made because of change in the method of
accounting for a combination of several company-controlled
concerns that resulted in a 53.5 mln dlr charge, Cooper
Development said.
    Last August Cooper Development combined its Cooper
Biomedical Inc unit and its Cooper Laboratories subsidiary with
Technicon Instruments Corp, a company acquired from Revlon Inc
&lt;REV>, a Cooper spokesman said.
    The spokesman said the transaction was accounted for as an
acquisition, but the Securities and Exchange Commission took
issue with the accounting method and said it should be
accounted for as a reorganization of entities under common
control.
    This treatment requires that the costs associated with the
transaction be expanded rather than capitalized as an
intangible asset, the company said.
    It also said that, since the charged required an expensing
of previously accrued liabilities, the company will experience
no resulting material change it its cash flow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14048" NEWID="8527">
<DATE>23-MAR-1987 16:54:08.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2460&#31;reute
h f BC-BORDEN-&lt;BN>-PLANT-FIN   03-23 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>BORDEN &lt;BN> PLANT FINED ON POLLUTION VIOLATIONS</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>The U.S. Environmental Protection
Agency said Borden Inc was fined 545,000 dlrs for the delay of
the installation of pollution controls in its canning plant in
Lyons, N.Y.
    The EPA said the U.S. District Court in Rochester, N.Y.,
assessed the penalty in connection with its failure to comply
with EPA-approved air quality regulations by July 1, 1980.
    After Borden sought relief through the courts, a final
compliance date was set for Dec 1, 1984, the EPA said.
    The EPA said that Borden did not adequately correct the
problems by the date and rejected Borden's argument that it had
made a good faith effort to rectify the problems.
    Borden sold the facility to C-B Foods in January 1986, the
EPA said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14049" NEWID="8528">
<DATE>23-MAR-1987 16:56:40.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2469&#31;reute
r f BC-AMBRIT-INC-&lt;ABI>-4TH   03-23 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>AMBRIT INC &lt;ABI> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    CLEARWATER, Fla., March 23 -
    </DATELINE><BODY>Shr 28 cts vs nil
    Net 3,614,000 vs 7,000
    Revs 37.5 mln vs 7,835,000
    Year
    Shr 13 cts vs nil
    Net 1,601,000 vs 30,000
    Revs 145.5 mln vs 51 mln
    NOTE: Per share amounts are after payment of preferred
stock dividends.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14050" NEWID="8529">
<DATE>23-MAR-1987 16:57:38.95</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;f2471&#31;reute
r f BC-ECOLAB-&lt;ECL>-DEBT-MAY   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ECOLAB &lt;ECL> DEBT MAY BE DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Standard and Poor's Corp said it may
downgrade Ecolab Inc's 10 mln dlrs of BBB-plus subordinated
debt.
    The agency cited Ecolab's proposed acquisition of ChemLawn
Corp &lt;CHEM> for 370 mln dlr. S and P said there are uncertain
returns on such a large investment for Ecolab as well as
increased credit risk, with debt leverage rising to more than
60 pct from 25 pct currently.
    But S and P noted that the acquisition would broaden
Ecolab's services. S and P said it would review management's
plans to sell assets and use proceeds to reduce debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14051" NEWID="8530">
<DATE>23-MAR-1987 16:57:58.57</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2472&#31;reute
r f BC-&lt;ATLANTIS-INTERNATION   03-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ATLANTIS INTERNATIONAL LTD> YEAR LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, March 23 -
    </DATELINE><BODY>Shr loss 35 cts vs profit six cts
    Net loss 3,555,293 vs profit 649,715
    Revs 4,451,732 vs 3,910,652
    Note: 1986 net includes 3.7 mln dlr writedown of oil and
gas properties.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14052" NEWID="8531">
<DATE>23-MAR-1987 16:58:55.30</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;f2474&#31;reute
u f BC-S/P-UPGRADES-WEYERHAU   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P UPGRADES WEYERHAUSER &lt;WY> MARKET PREFERRED</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Standard and Poor's Corp said it
raised to A-plus from A Weyerhauser Co's 150 mln dlrs of market
auction preferred stock, series A and B.
    S and P assigned an A rating to the company's 200 mln dlrs
of convertible exchangeable preference stock, and affirmed its
A-plus senior debt and A-1 commercial paper. Weyerhauser has
about 1.6 billion dlrs of debt securities outstanding.
    It said the action reflected the preferred's diminished
importance in the capital structure following the recent
conversion of 2.80 dlr convertible cumulative preferred shares,
which had a 200 mln dlr liquidiating value.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14053" NEWID="8532">
<DATE>23-MAR-1987 16:59:14.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2476&#31;reute
h f BC-BANK-OF-NEW-ENGLAND-&lt;   03-23 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF NEW ENGLAND &lt;BKNE> NAMES SCOTT TO BOARD</TITLE>
<DATELINE>    BOSTON, March 23 - </DATELINE><BODY>Bank of New England said it named Peter
L. Scott, chairman and chief executive officer of Emhart Corp
&lt;EMH>, to its board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14054" NEWID="8533">
<DATE>23-MAR-1987 17:02:18.62</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;f2481&#31;reute
f f BC-******AMERICAN-EXPRES   03-23 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN EXPRESS DECLARED A TWO-FOR-ONE STOCK SPLIT 
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14055" NEWID="8534">
<DATE>23-MAR-1987 17:04:56.48</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;f2484&#31;reute
f f BC-******AMERICAN-EXPRES   03-23 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN EXPRESS RAISES QTLY DIVIDEND TO 38 CTS FROM 36 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14056" NEWID="8535">
<DATE>23-MAR-1987 17:06:49.09</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2486&#31;reute
u f BC-/U.S.-WILLING-TO-TALK   03-23 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WILLING TO TALK TO MOSCOW ON WHEAT PRICE</TITLE>
<DATELINE>    WASHINGTON, MARCH 23 - </DATELINE><BODY>U.S. Agriculture undersecretary Dan
Amstutz indicated the United States is willing talk with the
Soviet Union about the competitiveness of U.S. wheat prices but
would not discuss making U.S. wheat prices "cheap."
    "There sometimes is a difference between being competitive
and being cheap," Amstutz told a Senate Agriculture
Appropriations hearing.
    Amstutz said the difference of opinion between Moscow and
Washington last summer on the level of the U.S. subsidy offered
on wheat to the Soviet Union, was over whether the U.S. wheat
price was competitive or cheap.
    "I think there is a (U.S.) willingness to explore this
issue as it pertains to competitiveness," Amstutz said.
    However, Amstutz added that the United States would not be
willing to discuss wheat prices with Moscow "if the issue is
being cheap."
    Asked later by a reporter what he meant by the distinction
between competitive and cheap, Amstutz would not elaborate.
    Amstutz said it is the U.S. judgment that the long-term
grain agreement between the two countries calls for Moscow to
buy at least four mln tonnes each of wheat and corn annually at
"prices in effect in this country."
    Amstutz made the comments in response to a question from
Sen. Charles Grassley, R-Iowa, about expanding the export
enhancement program to include grain sales to the Soviet Union.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14057" NEWID="8536">
<DATE>23-MAR-1987 17:12:52.56</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2501&#31;reute
f f BC-******AMERICAN-EXPRES   03-23 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN EXPRESS BOARD APPROVED NIPPON LIFE PURCHASE OF SHEARSON INTEREST
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14058" NEWID="8537">
<DATE>23-MAR-1987 17:13:21.70</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2502&#31;reute
f f BC-******AMERICAN-EXPRES   03-23 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN EXPRESS APPROVES PUBLIC OFFERING FOR PART OF SHEARSON LEHMAN BROTHERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14059" NEWID="8538">
<DATE>23-MAR-1987 17:13:34.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2503&#31;reute
d f BC-BANCTEXAS-&lt;BTX>-GETS   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BANCTEXAS &lt;BTX> GETS CONSOLIDATION APPROVAL</TITLE>
<DATELINE>    DALLAS, March 23 - </DATELINE><BODY>BancTexas Group Inc said it received
approval from the Comptroller of the Currency to consolidate
its four banks in Harris County into one bank, which will be
named BancTexas Houston NA.
   The company also said it filed an appliction with the
Comptroller of the Currency for permission to consolidate its
five banks located in Dallas County into one bank under the
name BancTexas Dallas NA.
    In addition, the company said it filed a registration
statement with the Securities and Exchange Commission relating
to its previously announced restructuring plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14060" NEWID="8539">
<DATE>23-MAR-1987 17:14:31.90</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;f2506&#31;reute
r f BC-FEDERAL-PAPER-BOARD-&lt;   03-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERAL PAPER BOARD &lt;FBP> UPGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Moody's Investors Service Inc said it
upgraded Federal Paper Board Co Inc's 290 mln dlrs of debt.
    Raised were the company's senior debt to Ba-1 from Ba-2 and
subordinated debt to Ba-3 from B-1. Moody's assigned a Ba-3
rating to its convertible preferred stock.
    Moody's cited reduced leverage, a strengthened equity base
and increased fixed-charge coverage. Federal Paper Board's
outstanding 125 mln dlrs of subordinated debt will be redeemed
with the proceeds from the convertible preferred issue, the
agency noted. Moody's also said it expects the company to have
strong earnings this year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14061" NEWID="8540">
<DATE>23-MAR-1987 17:14:58.62</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;f2509&#31;reute
r f BC-UNITED-ILLUMINATING-C   03-23 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED ILLUMINATING CO &lt;UIL> TWO MONTHS FEB 28</TITLE>
<DATELINE>    NEW HAVEN, Conn., March 23 -
    </DATELINE><BODY>Shr 1.51 dlr  vs 1.08 dlr
    Net 23.1 mln vs 18.2 mln
    Oper revs 81.1 mln vs 86.5 mln
    12 mths
    Shr 6.41 dlrs vs 5.77 dlrs
    Net 106.5 mln vs 99.2 mln
    Oper revs 465.8 mln vs 509.8 mln
    NOTE: 1987 periods do not reflect the terms of earnings
stipulation agreement among the company and various departments
submitted for approval on March 18.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14062" NEWID="8541">
<DATE>23-MAR-1987 17:20:03.52</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;f2522&#31;reute
r f BC-DATA-CARD-&lt;DATC>-SEES   03-23 0130</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA CARD &lt;DATC> SEES LOWER YEAREND RESULTS</TITLE>
<DATELINE>    MINNEAPOLIS, March 23 - </DATELINE><BODY>Data Card Corp said it does not
expect to meet its earnings and revenue targets for the fiscal
year ending March 28.
    Earlier, the company said it expected earnings per share
from continuing operations to be 35 to 45 cts a share. Now it
sees that figure at 15 cts a share, or about 1.5 mln dlrs.
    Data Card said it expects revenues for the year in the
range of 170 mln to 175 mln dlrs, down from a previous estimate
of 180 mln to 185 mln dlrs.
    It said integration of Addressograph Farrington Inc, a
private company acquired on Aug 25, 1986, is proving more
difficult than expected. The company reported revenues of 154
mln dlrs and net income of 10.6 mln dlrs in fiscal 1986 ended
March 26, 1986.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14063" NEWID="8542">
<DATE>23-MAR-1987 17:21:45.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2525&#31;reute
d f BC-BALLY-&lt;BLY>-SHIFTS-MA   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLY &lt;BLY> SHIFTS MANAGEMENT AT SUBSIDIARY</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Bally Mfg Co said it is reorganizing
executive management of its lottery subsidiary, Scientific
Games Inc, Norcross, Ga.
    Effective April One, it said John Koza, co-founder and
chairman/chief executive officer of Scientific Games, will
become chairman emeritus of the subsidiary. He also will become
a technical consultant to Bally and Scientific Games in gaming
and lottery technology and new product development.
    Bally said Daniel Bower, co-founder and president of
Scientific Games, will assume Koza's former position as
chairman and chief executive officer, while retaining his post
as president.
    Assisting Bower will be a newly formed executive committee,
which will have primary operational responsibility for the
company's day-to-day offairs.
    Separately, it said Tom Little, a vice president, was named
president-International Division.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14064" NEWID="8543">
<DATE>23-MAR-1987 17:23:02.04</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;f2530&#31;reute
h f BC-DU-PONT-&lt;DD>-UPS-STAK   03-23 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>DU PONT &lt;DD> UPS STAKE IN PERCEPTIVE SYSTEMS</TITLE>
<DATELINE>    HOUSTON, March 23 - </DATELINE><BODY>Du Pont Co has increased its equity
stake in &lt;Perceptive Systems Inc> to 33.5 pct from 20 pct,
Perceptive Systems said.
    Perceptive Systems, a venture capital firm based in
Houston, makes digital imaging equipment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14065" NEWID="8544">
<DATE>23-MAR-1987 17:24:52.38</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2538&#31;reute
r f BC-QUAKER-OATS-&lt;OAT>-SEL   03-23 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>QUAKER OATS &lt;OAT> SELLS VERNELL'S FINE CANDIES</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Quaker Oats Co said Keystone Partners
Inc has purchased Vernell's Fine Candies Inc, previously an
indirect subsidiary of Quaker. The price was not disclosed.
    It said Vernell's, based in Bellevue, Wash., had annual
sales exceeding 30 mln dlrs. Vernell's was acquired by Quaker
in its acquisition of Golden Grain Macaroni Co in August 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14066" NEWID="8545">
<DATE>23-MAR-1987 17:25:17.87</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;f2539&#31;reute
r f BC-LINCOLN-SAVINGS-&lt;LNSB   03-23 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>LINCOLN SAVINGS &lt;LNSB> SETS FIRST PAYOUT</TITLE>
<DATELINE>    CARNEGIE, Penn., March 23 - </DATELINE><BODY>Lincoln Savings Bank said its
board declared an initial dividend of 10 cts per share, payable
April 17 to shareholders of record April 10.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14067" NEWID="8546">
<DATE>23-MAR-1987 17:26:00.26</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2540&#31;reute
d f BC-GRAPHIC-INDUSTRIES-&lt;G   03-23 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>GRAPHIC INDUSTRIES &lt;GRPH> ENDS BUYOUT TALKS</TITLE>
<DATELINE>    ATLANTA, March 23 - </DATELINE><BODY>Graphics Industries Inc said it
terminated negotiations for the acquisition of &lt;Holladay-Tyler
Printing Corp>, Rockville, Md.
    The companies on March 10 announced that they had signed an
agreement in principle for the acquisition.
    No reason was given termination of the negotiations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14068" NEWID="8547">
<DATE>23-MAR-1987 17:28:27.86</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;f2543&#31;reute
r f BC-UNITED-&lt;UIL>-PACT-MAY   03-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED &lt;UIL> PACT MAY LOWER NONCASH INCOME</TITLE>
<DATELINE>    NEW HAVEN, Conn., March 23 - </DATELINE><BODY>United Illuminating Co said
that if the Department of Utility Controls approves an earnings
stipulation agreement submitted March 18, it will reduce
through accounting procedures its 1987 noncash earnings by 16
mln dlrs or 1.15 dlr per share.
    For the two month period ended February 28, 1987, it said
the amount of the reduction would amount to 19 cts per share.
Earlier, it reported net income for the two-month period of
23.1 mln dlrs of 1.51 dlr a share.
    United said the approval would lead it to an equity return
level comparable with the electric utility industry average.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14069" NEWID="8548">
<DATE>23-MAR-1987 17:29:34.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2544&#31;reute
r f BC-BAKER-SAYS-LATINS-BAL   03-23 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SAYS LATINS BALK AT U.S. IADB COMPROMISE</TITLE>
<DATELINE>    MIAMI, March 23 - </DATELINE><BODY>U.S. Treasury Secretary James Baker said
leading Latin American nations have delayed accepting a U.S.
compromise proposal on major reforms of the Inter-American
Development Bank.
    In an interview with a small group of reporters, Baker said
discussions on far-reaching reforms of the bank would resume
around the fringes of the semiannual meeting of the
International Monetary Fund in two weeks time.
    But Baker said his compromise proposal, which he would not
disclose, was no longer on the table.
    "I made it clear that the proposal was not one that I
expected to leave out there if we could not resolve it at this
meeting," Baker said.
    The U.S. had pressed for virtual veto power over IADB loans
which were made on terms Washington considers far too lax.
    In a bid to integrate the Bank into the U.S. debt strategy,
Washington has suggested it would be ready to subscribe nine
billion dlrs to a new four-year capital replenishment of the
Bank.
    In return Latin nations would have to give up their 54 pct
simple majority voting power over IADB lending.
    Baker said, "In my view, they have not rejected it out of
hand at all and that it will be considered, should we choose to
advance it at the April meeting."
    A U.S. contribution of that size would lead to an effective
four-year lending program by the Bank of 22.9 billion dlrs.
    The actual capital increase would amount to 27 billion
dlrs, but usable resources would be less because the callable
capital of Latin debtors is theoretical and does not take place
in practice, U.S. officials explained.
    In return Latin nations would have to give up their 54 pct
simple majority voting power over IADB lending.
    Initially, the U.S. wanted 65 pct of votes to proceed with
a loan, a position that would have given the U.S. a virtual
veto since it holds almost 35 pct of the votes.
    But it seemed clear from Baker's remarks he was at one
point ready to concede an increased voting power, such as 62.5
pct or 60 pct as the majority for approving loans, that would
amount to a compromise between the original U.S. and Latin
American positions.
    Baker said, "In my view, they have not rejected it out of
hand at all and that it will be considered, should we choose to
advance it at the April meeting."
    Baker made clear that since Mexico, Brazil, Venezuela and
Argentina, representing the Latins, had declined to accept the
plan today, the U.S. had reverted to its original position, but
he added, "It's possible the proposal could be revived."
    U.S. officials, who asked not to be named, said they
believed a decision was not forthcoming because several top
Latin finance officials were absent from the IADB annual
meetings here.
    And one official added that the key Latin officials would
be present at the semi-annual meetings of the IMF and the World
Bank.
    The Treasury Secretary warned that if the issue is left
unresolved "we can't look towards a greater (capital)
replenishment here."
    That would mean the U.S. would use another multilateral
development bank, like the World Bank, as its principal vehicle
for lending tied to fundamental economic reforms in debtor
nations.
    The IADB has tended to make loans for projects rather than
sectoral loans aimed at reforming Latin economies and hence has
never fully participated in Baker's third world debt plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14070" NEWID="8549">
<DATE>23-MAR-1987 17:30:39.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2549&#31;reute
u f BC-IBM-&lt;IBM>-COMPUTER-TO   03-23 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>IBM &lt;IBM> COMPUTER TO SHIP AHEAD OF SCHEDULE</TITLE>
<DATELINE>    RYE BROOK, N.Y., March 23 - </DATELINE><BODY>International Business Machines
Corp said it will ship its mid-range 9370 computer two months
earlier than it had planned.
 More
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14071" NEWID="8550">
<DATE>23-MAR-1987 17:35:31.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2559&#31;reute
b f BC-INLAND-&lt;IAD>,-NIPPON   03-23 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>INLAND &lt;IAD>, NIPPON FORM JOINT STEEL VENTURE</TITLE>
<DATELINE>    CHICAGO, March 23 - </DATELINE><BODY>Inland Steel Industries said it has
formed a joint venture with Japan's Nippon Steel Corp to build
and operate a cold-rolled steel products plant costing more
than 400 mln dlrs.
    The joint venture, I/N Tek, will be 60 pct owned by Inland
and 40 pct owned by Nippon, it said.
    The plant, scheduled for completion in 1990, will feature a
continuous-process configuration designed to cut normal
production times, to improve product quality and to lower
manufacturing cost of cold-rolled sheet steel, it said.
    Inland Chairman Frank Luerssen said Inland and Nippon will
provide 150 mln dlrs of the venture's "off balance sheet"
financing, with Inland providing 90 mln dlrs and Nippon 60 mln
dlrs.
    The balance, he said, will come from &lt;Mitsui and Co Ltd>,
&lt;Mitsubishi Corp> and &lt;Nissho Iwai Corp>, three Japanese
trading firms.
    Luerssen said the plant will be located in South Bend,
Ind., close to its product's automotive, appliance and office
furniture markets, and near its source of raw materials,
Inland's Indiana Harbor Works hot rolled steel plant.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14072" NEWID="8551">
<DATE>23-MAR-1987 17:35:48.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2561&#31;reute
r f BC-GENERAL-AUTOMATION-&lt;G   03-23 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL AUTOMATION &lt;GENA> TO OFFER NEW COMPUTER</TITLE>
<DATELINE>    ANAHEIM, Calif., March 23 - </DATELINE><BODY>General Automation Inc said it
will begin delivering this fall a 25 MHz, 32-bit ZEBRA
multi-user business computer system.
    The company said the new computer will double the terminal
capacity of the current ZEBRA product.
    The new ZEBRA 8820 will accommodate up to 256 concurrent
users and will use up to five Motorola Inc &lt;MOT>
microprocessors when fully configured.
    General Automation said all ZEBRA 7820 computers will be
fully upgradable to ZEBRA 8820.
    First customer deliveries are scheduled for
October-November, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14073" NEWID="8552">
<DATE>23-MAR-1987 17:36:04.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f2563&#31;reute
r f BC-VOLCKER-ASSISTANT-JOI   03-23 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER ASSISTANT JOINS PEAT MARWICK</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>Steven Roberts, assistant to Federal
Reserve Board Chairman Paul Volcker, has joined the firm of
Peat Marwick Mitchell and Co, the company said.
    Roberts, 42, will be in charge of the firm's institutional
regulatory consulting capability, and will be based in
Washington.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14074" NEWID="8553">
<DATE>23-MAR-1987 17:37:05.61</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;f2564&#31;reute
u f BC-HUGHES'-U.S.-RIG-COUN   03-23 0137</UNKNOWN>
<TEXT>&#2;
<TITLE>HUGHES' U.S. RIG COUNT RISES TO 784</TITLE>
<DATELINE>    HOUSTON, March 23 -  </DATELINE><BODY>U.S. drilling activity rose last week
with the number of working rotary rigs up by 23 to 784, against
1,063 working rigs one year ago, Hughes Tool Co. said.
    The improvement was the first increase this year in the
weekly rig count, which had dropped steadily since early
January when a total of 962 rotary rigs were working.
    Among individual states, Texas and Oklahoma reported the
biggest gains in drilling last week with increases of 21 and
11, respectively. California and Louisiana were each up by
three and Wyoming gained two additional working rigs.
    Hughes Tool said it counted a total of 692 rigs drilling on
land, 74 rigs active offshore and 18 drilling in inland waters.
In Canada, the rig count was up by two to 183, against 324 one
year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14075" NEWID="8554">
<DATE>23-MAR-1987 17:37:39.20</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 T
&#22;&#22;&#1;f2565&#31;reute
u f BC-AMSTUTZ-SAYS-FARM-TRA   03-23 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>AMSTUTZ SAYS FARM TRADE ACCORD POSSIBLE IN 1988</TITLE>
<DATELINE>    WASHINGTON, MARCH 23 - </DATELINE><BODY>U.S. Agriculture undersecretary
Daniel Amstutz said it is possible to reach a global agreement
to scale-back agricultural supports in calendar 1988.
    Speaking to a Senate Agriculture Appropriations committee
hearing, Amstutz said "I think we can reach agreement in
calendar 1988."
    Amstutz said the U.S. places a high priority on the Uruguay
round of global trade talks.
    His comments followed a statement by Secretary of State
George Shultz last week urging agriculture be the highest
priority item during the upcoming summit of western heads of
state in Venice, Italy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14076" NEWID="8555">
<DATE>23-MAR-1987 17:42:07.57</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2572&#31;reute
s f BC-CAMPBELL-RED-LAKE-MIN   03-23 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>CAMPBELL RED LAKE MINES LTD &lt;CRK> QTLY DIV</TITLE>
<DATELINE>    TORONTO, March 23 - 
    </DATELINE><BODY>Qtly div 10 Canadian cts vs 10 Canadian cts prior
    Pay May 25
    Record April 20
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14077" NEWID="8556">
<DATE>23-MAR-1987 17:42:23.19</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;f2574&#31;reute
s f BC-STOKELY-USA-INC-&lt;STKY   03-23 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>STOKELY USA INC &lt;STKY> REGULAR DIVIDEND SET</TITLE>
<DATELINE>    OCONOMOWOC, WIS., March 23 -
    </DATELINE><BODY>Qtly div three cts vs three cts previously
    Pay April 15
    Record April One
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14078" NEWID="8557">
<DATE>23-MAR-1987 17:42:47.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f2577&#31;reute
r f BC-NEW-YORK-REGULATOR-AT   03-23 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW YORK REGULATOR ATTACKS SENATE BANK BILL</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Jill Considine, New York State
Superintendent of Banks, said a federal banking bill proposal
now before the Senate, which includes a moratorium on new
non-bank activities by bank holding companies, would preempt
state banking authority.
    "This bill purports to freeze the 'status quo' of banking
but in fact only magnifies the existing competitive
inequalities and places a strait-jacket on the ability of
states to permit banks to diversify their services and expand
geographically," Considine said in a statement.
    "This bill is antithetical to the concept of the dual
banking system, which encourages states to experiment and
innovate," she added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14079" NEWID="8558">
<DATE>23-MAR-1987 17:42:52.30</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2578&#31;reute
d f BC-COOPER-SAYS-OFFER-MUS   03-23 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>COOPER SAYS OFFER MUST INCLUDE CLASS A SHARES</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>&lt;Cooper Canada Ltd> said it told those
who have expressed interest in acquiring control of the company
that it would entertain no offer unless it were made to holders
both of class A non-voting shares and voting common.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14080" NEWID="8559">
<DATE>23-MAR-1987 17:43:08.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2579&#31;reute
r f BC-KINGS-ROAD-ENTERTAINM   03-23 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>KINGS ROAD ENTERTAINMENT &lt;KREN> 3RD QTR LOSS</TITLE>
<DATELINE>    LOS ANGELES, March 23 - </DATELINE><BODY>Qtr ended Jan 31
    Shr loss seven cts vs loss 64 cts
    Net loss 367,000 vs loss 3,009,000
    Revs 2,516,000 vs 8,787,000
    Nine mths
    Shr loss 73 cts vs loss 1.17 dlrs
    Net loss 3,545,000 vs loss 4,573,000
    Revs 6,768,000 vs 13.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14081" NEWID="8560">
<DATE>23-MAR-1987 17:43:20.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2580&#31;reute
r f BC-BURNHAM-SLEEPY-HOLLOW   03-23 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>BURNHAM SLEEPY HOLLOW &lt;DOZEZ> CONVERTS TO CORP</TITLE>
<DATELINE>    SAN DIEGO, Calif., March 23 - </DATELINE><BODY>Partners of Burnham Sleepy
Hollow Ltd said they voted to convert the limited partnership
to a California corporation, called Burnham Pacific Properties
Inc.
    The new corporation will become a real estate investment
trust, effective March 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14082" NEWID="8561">
<DATE>23-MAR-1987 17:45:28.02</DATE>
<TOPICS><D>acq</D><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;f2583&#31;reute
b f BC-AMERICAN-EXPRESS-&lt;AXP   03-23 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN EXPRESS &lt;AXP> APPROVES SHEARSON OFFER</TITLE>
<DATELINE>    New York, March 23 - </DATELINE><BODY>American Express Co said its board
approved a public offering of about 18 pct of its wholly owned
Shearson Lehman Brothers Inc brokerage unit.
    American Express also approved the previously announced
plan to sell about 13 pct, or 13 mln convertible preferred, of
the unit to Nippon Life insurance co for 538 mln dlrs. The
preferred shares are convertible to the same number of common
shares following Hart-Scott-Rodino and FDIC approvals.
    American Express said it will maintain 60 pct, or 60 mln of
the 100 mln shares of Shearson that will be outstanding.
    American Express said it had agreed with Nippon life that
American Express will hold a minimum of 40 pct of Shearson
until January, 1999.
   American Express said 7.5 mln Shearson shares would be held
by certain employees of Shearson and one mln by a Shearson
stock ownership plan to be formed.
    American Express said it anticipates a registration
statement for the public offering will be filed with the
Securities and Exchange Commission shortly.
    American Express also declared a two-for-one stock split
and raised its quarterly dividend to 38 cts per share from 36
cts on a pre-split basis. Both dividends are payable May 8, to
shareholders of record April 3. There are currently 215 mln
American Express shares outstanding.
    The transaction with Nippon Life remains subject to
approval by the Japanese ministry of finance, which is expected
in April.
    American Express also said an agreement was reached by
Shearson and Nippon Life providing for a joint venture in
London.
    The venture will focus on investment advisory asset
management, market research and consulting on financing. It
also said it expects the relationship to extend to selected
projects involving American Express, Shearson Lehman and Nippon
Life in key financial centers of Asia and other regions, and to
future personnel exchanges.
    Under the agreement, Nippon will receive 13 mln cumulative
preferred shares with a five pct dividend rate. The cumulative
preferred stock will become convertible with voting powers to
an equal number of common shares following the U.S. government
approvals.
    American Express said that assuming conversion of the
preferred stock held by Nippon, 100 mln shares of Shearson
Lehman common stock would be outstanding. For the public
offering, it said there will be an underwriters overallotment
option to purchase 1.8 mln shares.
    American Express will also grant Nippon Life a five-year
warrant to purchase one mln American Express common shares at
100 dlrs per share. There are currently 215 mln American
Express shares outstanding.
    Nippon Life would be entitled to nominate two directors to
the Shearson board and one representative to serve as an
adviser to the American Express board of directors.
    "These proposed transactions are yet another signal that
american express intends to stay in the forefront of the
financial services industry worldwide," said American Express
Chairman James D. Robinson. "The implementation of our plans,
moreover, will enable us to maintain a majority interest in
shearson while enhancing the strength of our balance sheet by
tapping additional capital resources for shearson outside
american express."
Reuter...
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14083" NEWID="8562">
<DATE>23-MAR-1987 17:49:08.41</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2585&#31;reute
r f BC-STERIVET-LABS-&lt;STVTF>   03-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>STERIVET LABS &lt;STVTF> SETS STOCK SPLIT</TITLE>
<DATELINE>    TORONTO, March 23 - </DATELINE><BODY>Sterivet Laboratories Ltd said it
authorized a three-for-one split of its common stock.
    The company said the stock split is subject to approval by
its shareholders at its upcoming annual meeting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14084" NEWID="8563">
<DATE>23-MAR-1987 17:50:01.25</DATE>
<TOPICS><D>money-fx</D></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;f2587&#31;reute
d f BC-CHICAGO-FUTURES-LEADE   03-23 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICAGO FUTURES LEADER SAYS MARKETS CAN ADAPT</TITLE>
<AUTHOR>    By Nelson Graves, Reuter</AUTHOR>
<DATELINE>    BOCA RATON, Fla., March 23 - </DATELINE><BODY>Foreign currency futures
markets would not be harmed if the leading industrial countries
agreed to restrict currency movements to within a narrow band,
said Leo Melamed, chairman of the Chicago Mercantile
Exchange's, CME, executive committee.
    "The target zone would not affect our market I think at
all.... A 10 pct range in the Deutsche mark gives us a healthy
market," Melamed told Reuters in an interview.
    "We were willing to live in the old Smithsonian era with a
four pct shift," he said, referring to permitted currency
fluctuations in the early 1970s. "One thing you can adjust is to
make each contract a larger value."
    As chairman of the CME in 1969-71, Melamed was instrumental
in the development of currency futures, which now are crucial
to the Chicago exchange.
    Melamed said capital flows -- which he estimated can
approach 200 billion dlrs a day -- would overwhelm efforts by
governments to control currency fluctuations.
    "They can do it for a day, in terms of intervention, an
hour, a week maybe, but not over a period of time. So it's
unrealistic and it doesn't work and it's unnecessary."
    The CME's top policymaker also said a decision by the
exchange to advance the quarterly settlement time of its stock
index futures contract to the morning from the afternoon would
help eliminate dramatic price gyrations in futures and equity
markets on so-called "triple-witching" day.
    "We think that the settlement in the morning will have a
salutary effect so that over a longer period of time I think
this issue (triple witching) will go away because of the change
in the structure as of next June," when the move is scheduled to
go into effect, he said.
    Melamed said proposed changes in floor practices by traders
of the popular Standard and Poor's 500 stock index future would
address complaints of trading abuses and stimulate trading.
    Two weeks ago, the CME board of directors proposed barring
brokers on the top step of the pit from trading for their own
account. The board also proposed requiring brokers engaged in
dual trading elsewhere in the pit to record personal trades to
the nearest minute and curbing trading between broker groups.
    The changes "will in time have an extremely positive effect
on the marketplace. That's going to prove very, very
instrumental in increasing volume over time," he said,
predicting the increase would come within a year.
    Melamed, also chairman of Dellsher Investment Co Inc, said
the CME last week withdrew a proposal to put a 12-point limit
on the S and P 500 index's daily price movement when the
Commodity Futures Trading Commission told the exchange it could
not be a temporary program.
    The CME also received "many negative comments, many more
than we anticipated," Melamed conceded. Many futures commission
merchants predicted sell orders would accelerate in the event
the price approached the bottom limit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14085" NEWID="8564">
<DATE>23-MAR-1987 17:50:25.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2589&#31;reute
u f BC-GTE-&lt;GTE>-FILES-AUCTI   03-23 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GTE &lt;GTE> FILES AUCTION PREFERRED SHARE OFFER</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>GTE Corp filed with the Securities
and Exchange Commission for a shelf offering of four mln shares
of auction preferred stock on terms to be set at the time of
sale.
    The dividend rate on the shares is reset by auction every
49 days. The shares will be offered in units of 1,000 and each
unit will have a liquidation preference of 100,000 dlrs. An
underwriting group will be led by Goldman, Sachs and Co.
    GTE said proceeds will be used to reduce short-term debt
and to partially fund repurchases of common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14086" NEWID="8565">
<DATE>23-MAR-1987 17:50:41.16</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;f2591&#31;reute
d f BC-TCBY-ENTERPRISES-INC   03-23 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>TCBY ENTERPRISES INC &lt;TCBY> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    LITTLE ROCK, ARK., March 23 -
    </DATELINE><BODY>Shr eight cts vs five cts
    Net 1,370,898 vs 823,988
    Sales 7,786,730 vs 4,383,825
    Avg shrs 17,744,333 vs 17,071,236
    NOTE: Per-share amounts adjusted for three-for-two stock
splits in April and July, 1986
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14087" NEWID="8566">
<DATE>23-MAR-1987 17:52:58.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2598&#31;reute
d f BC-SPACE-MICROWAVE-&lt;SMLI   03-23 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>SPACE MICROWAVE &lt;SMLI> SETS SECURITIES OFFERING</TITLE>
<DATELINE>    SANTA ROSA, Calif., March 23 - </DATELINE><BODY>Space Microwave Laboratories
Inc said it registered with the Securities and Exchange
Commission a secondary offering of 2,200 units of its
securities at 1,000 dlrs per unit.
    Each unit consists of shares of common stock, common stock
purchase warrants and 1,000-dlr principal amount of convertible
subordinated debentures.
    RLR Securities Group Inc will underwrite the offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14088" NEWID="8567">
<DATE>23-MAR-1987 17:53:58.70</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;f2601&#31;reute
d f BC-HECLA-&lt;HL>-BUYS-STAKE   03-23 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>HECLA &lt;HL> BUYS STAKE IN GREENS CREEK VENTURE</TITLE>
<DATELINE>    DENVER, March 23 - </DATELINE><BODY>Hecla Mining Co said it agreed to buy a
28 pct stake in the Greens Creek joint venture from Amselco
Minerals Inc, a unit of British Petroleum PLC's &lt;BP> BP North
America Inc unit.
    The Greens Creek venture is engaged in final project
engineering of a gold-silver-lead-zinc ore body on Admiralty
Island, about 15 miles southwest of Juneau, Alaska.
    Hecla said it estimates its total investment in the
project, including its share of production costs, will be about
45 mln dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14089" NEWID="8568">
<DATE>23-MAR-1987 17:59:54.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2608&#31;reute
d f BC-U.S.-TREASURY-TO-MODI   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TREASURY TO MODIFY TRANSFERS PROGRAM</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>The Treasury said it was modifying
its computerized Coupons Under Book-Entry Safekeeping (CUBES)
program by permitting on-line transfers of funds against
payment by deposit-taking institutions.
    Each institution will be able to keep a CUBES account at
its local Federal Reserve Bank or a branch and through it
handle trading nationwide, a Treasury release said.
    The new system is expected to be in operation late this
year.
    Currently, CUBES accounts are maintained off-line at the
Federal Reserve Bank of New York, the Treasury said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14090" NEWID="8569">
<DATE>23-MAR-1987 18:03:09.72</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;f2612&#31;reute
u f BC-By-Peter-Elsworth   03-23 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>SPRINT OPTIMISTIC DESPITE LOSSES</TITLE>
<AUTHOR>    By Peter Elsworth</AUTHOR>
<DATELINE>    DALLAS, March 23 - </DATELINE><BODY>US Sprint, the 50-50 telephone venture
of GTE Corp &lt;GTE> and United Telecommunications Inc &lt;UT> set up
last June, is optimistic despite expecting to report a net loss
of about 500 mln dlrs this year.
     David M. Holland, president of US Sprint's Dallas-based
Southwest Division, told Reuters in an interview that he did
not know what it would report for the first quarter, but agreed
that for the year the company should have about the same
results as last year when it lost "about 500 mln dlrs."
     He noted the company was slated to spend 2.3 billion dlrs
over "two plus years" to set up its network.

    Holland added that Sprint was still paying almost 500 mln
dlrs a year to American Telephone and Telegraph Co (T) in order
to lease its lines.
     He said 16,000 miles of its 23,000 mile fiber optic
telephone line are now "in the ground," and 7,000 miles are
operable.
     By the end of the year, he said, 90 pct of the company's
subscribers will be carried on its fiber optic lines (instead
of leased ATT lines), compared with 60 pct by the end of the
second quarter.
    Fiber optic lines, which send digital light impulses along
microscopic glass lines, is quicker, more accurate and more
economical than traditional copper cables. A fiber optic line
the diameter of a dime can carry the same amount of information
as a copper cable 20 feet in diameter.
     "By the end of the year, we will have the capacity to
carry 50 pct of all U.S. long distance phone calls," Holland
said.
    He said ATT currently controls about 80 pct of the U.S.
long distance market, with MCI Communications Corp &lt;MCIC> about
10 to 12 pct and Sprint five to seven pct.
     Holland said Sprint's rates, which were 50 pct lower than
ATT when it did not pay to gain access to local telephone
exchanges, were now about 10 to 12 pct lower now that all the
companies have equal access. He said the company was cutting
back its advertising by about 30 pct this year.
     At the same time, he said Sprint had increased its total
number of customers to four mln from two mln from July 1986 to
last January.
    "We've captured the fiber high ground, shown the importance
of it," he said.
     Concerning the deregulation of ATT, Holland said he
believed ATT "should be given some flexibility, but should be
regulated on pricing plans."
     "They're so dominant in the market place," he said, adding
that ATT should be deregulated when "there is true competition
in the marketplace."
     "It takes time to prove ourselves and a lot of money," he
said, adding, "maybe two to four years out, it's hard to say."
    Holland said he was not concerned about talk that Sprint's
two owners might be squabbling or that corporate raiders, such
as the Belzberg family in Canada, might be putting pressure on
them to sell off their loss-making Sprint holdings.
     "They are two excellent partners who have stated time and
time again their support of US Sprint," he said, adding that he
was "amazed" at industry talk that the two companies might be
arguing. "There's no evidence of that," he said.
     He said Sprint's progress in such areas as revenues,
number of customers and construction was on track, even "ahead
in many areas."
    Looking beyond the United States, Holland said Sprint
currently had direct access to 34 countries and aimed to be in
90 pct of the Free World nations by 1988.
    "We want to be in every country that ATT serves," he said.
    He said Sprint currently does not have access to Mexico but
was working on it.
     He noted negotiations between Mexico and GTE Sprint, the
forerunner of US Sprint, had been broken off by the September
1985 earthquake which had devastated the nation's telephone
network.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14091" NEWID="8570">
<DATE>23-MAR-1987 18:19:05.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2641&#31;reute
r f BC-GEODYNE-&lt;GEOD>-TO-OFF   03-23 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>GEODYNE &lt;GEOD> TO OFFER PARTNERSHIP UNITS</TITLE>
<DATELINE>    TULSA, Okla., March 23 - </DATELINE><BODY>Geodyne Resources Inc said it will
begin selling immediately 300 mln dlrs worth of limited
partnership interests in PaineWebber/Geodyne Energy Income
Program II.
     The company said a unit will serve as general partner of
the partnership, which will acquire oil and gas producing
properties from third parties.
    PaineWebber &lt;PWJ> will serve as the dealer-manager for the
offering, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14092" NEWID="8571">
<DATE>23-MAR-1987 18:19:55.10</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;f2643&#31;reute
r f BC-AVALON-&lt;AVL>-STAKE-SO   03-23 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>AVALON &lt;AVL> STAKE SOLD BY DELTEC</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Avalon Corp said that &lt;Deltec
Panamerica SA> has arranged to sell its 23 pct stake in Avalon
and that Deltec's three representatives on Avalon's board had
resigned.
    An Avalon spokeswoman declined to indentify the buyer of
Deltec's stake or give terms of the sale.
    In addition, Avalon said three other directors resigned. It
said Benjamin W. Macdonald, a director of &lt;TMOC Resources Ltd>,
the principal holder of Avalon stock, and Hardwick Simmons, a
vice chairman of Shearson Lehman Bros Inc, were then named to
the board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14093" NEWID="8572">
<DATE>23-MAR-1987 18:20:04.72</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;f2644&#31;reute
r f BC-QUAKER-OATS-&lt;OAT>-SEL   03-23 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>QUAKER OATS &lt;OAT> SELLS UNIT TO KEYSTONE</TITLE>
<DATELINE>    SEATTLE, Wash., March 23 - </DATELINE><BODY>The Quaker Oats Co said it sold
its Vernell's Fine Candies Inc unit to privately-held Keystone
Partners Inc for an undisclosed price.
    The company said Vernells had sales of around 30 mln dlrs
in the year ended in August, 1986.
    Quaker Oats acquired Vernells in August, 1986 when it
purchased Golden Grain Macaroni Co.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14094" NEWID="8573">
<DATE>23-MAR-1987 18:25:12.86</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;f2647&#31;reute
r f BC-U.S.-BUDGET-WRITERS-T   03-23 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BUDGET WRITERS TO DRAFT MEASURE JOINTLY</TITLE>
<DATELINE>    WASHINGTON, March 23 - </DATELINE><BODY>Republicans apparently have ended
their vote boycott at the budget drafting sessions of the House
Budget Committee.
    House Budget Committee Chairman William Gray, a Democrat,
announced that Republicans now would like to join in the effort
to write a budget, but behind closed doors.
    Last week, Republicans refused to vote on any budget issues
contending they had been left out of the process.
    The committee plans to meet tomorrow on a budget and Gray
said he welcomes the "good faith effort" of the minority
Republicans.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14095" NEWID="8574">
<DATE>23-MAR-1987 18:25:19.62</DATE>
<TOPICS><D>livestock</D><D>carcass</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f2648&#31;reute
u f BC-U.S.-TO-ASK-JAPAN-TO   03-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TO ASK JAPAN TO DROP BEEF RESTRICTIONS</TITLE>
<DATELINE>    STILLWATER, Okla., March 23 - </DATELINE><BODY>U.S. Agriculture Secretary
Richard Lyng will ask the Japanese Government to remove all
beef import restrictions when he visits there next month.
    Lyng's remarks came in a speech at Oklahoma State
University today.
    "We think Japanese consumers should have the same freedom
of choice as our consumers. Look at all the Japanese cameras
and tape recorders in this room. We know they'd buy more beef
if they had the opportunity," Lyng said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14096" NEWID="8575">
<DATE>23-MAR-1987 18:27:09.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>south-africa</D></PLACES>
<PEOPLE><D>mulroney</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2649&#31;reute
r f BC-CANADA'S-MULRONEY-TO   03-23 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA'S MULRONEY TO MEET WITH ANC LEADER</TITLE>
<DATELINE>    OTTAWA, March 23 - </DATELINE><BODY>Prime Minister Brian Mulroney has agreed
to meet African National Congress president Oliver Tambo in
Ottawa sometime in late April or early May, a senior official
for the outlawed South African organization said.
    Mac Maharaz said Mulroney and Tambo would discuss more
possible Canadian sanctions against the South African
government.
    Maharaz, visiting Ottawa to speak to a conference on native
Indian rights, said Tambo would urge Mulroney to cut all
diplomatic and economic ties with South Africa.
    He said that Tambo would also ask Mulroney to refuse
diplomatic accreditation to South Africa's newly designated
ambassador to Canada, Johannes de Klerk.
    "I certainly would regard Canada's refusal to accept the
accreditation of any further ambassador as a significant
movement," said Maharaz. "I think in diplomatic protocol, it
would be a major signal."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14097" NEWID="8576">
<DATE>23-MAR-1987 18:28:40.60</DATE>
<TOPICS></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
&#22;&#22;&#1;f2651&#31;reute
r f BC-acid-rain   03-23 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>MULRONEY CALLS ON CONGRESS FOR ACID RAIN ACTION</TITLE>
<DATELINE>    QUEBEC, MARCH 23 - </DATELINE><BODY>Prime Minister Brian Mulroney called on
Americans to pressure Congress in the fight against acid rain
in what some observers said may represent a shift in Canada's
lobbying strategy with the United States.
    Mulroney told delegates to a North American wildlife
conference that he has not been pleased with the U.S.
administration's lack of speed in acting on the question, which
Canada sees, he said, "as a test of our relationship" with the
U.S.
    Mulroney and President Reagan endorsed a report by
specially appointed acid rain envoys last year. Last week, the
White  House asked Congress for 2.50 billion U.S. dlrs to fund
the acid rain fight.
    Mulroney described the commitment as "significant," but noted
it was a long time in coming.
    "We are geared up, tanked up and raring to go," Mulroney
said. "But I must tell you we were not happy with the pace with
which the U.S. administration moved to implement the
president's acceptance of the envoy report."
    The prime minister urged his mostly American audience to
help Canada take the fight to Congress, saying his government
is determined to fight on more than one front.
    "The campaign does not involve either or choices between the
administration on one hand and Capitol Hill on the other," he
said.
    The Canadian Coalition on Acid Rain hailed Mulroney's call
to take the battle to Congress.
    "It is clear that he has an understanding now that Congress
must be emphasized as equally as the administration," said
spokesman Michael Perley.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14098" NEWID="8577">
<DATE>23-MAR-1987 18:31:04.08</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;f2654&#31;reute
r f BC-CLABIR-CORP-&lt;CLG>-4TH   03-23 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>CLABIR CORP &lt;CLG> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    GREENWICH, Conn., March 23 - 
    </DATELINE><BODY>Shr profit 26 cts vs loss two cts
    Net profit 6,194,000 vs loss 170,000
    Revs 100.0 mln vs 7,854,000
    Avg shrs 10.7 mln vs 8,787,977
    Year
    Shr profit two cts vs loss 17 cts
    Net profit 7,169,000 vs loss 1,461,000
    Revs 421.4 mln vs 51.1 mln
    Avg shrs 9,604,474 vs 8,807,709
   
Reuter...
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14099" NEWID="8578">
<DATE>23-MAR-1987 18:31:13.09</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE><D>lawson</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2655&#31;reute
r f BC-UK-PROFITTED-FROM-AUT   03-23 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. PROFITTED FROM AUTUMN INTERVENTION - LAWSON</TITLE>
<DATELINE>    LONDON, March 23 - </DATELINE><BODY>Britain has reaped profits by using a
stronger pound to buy back dollars used by the government last
autumn to support sterling during a currency crisis, Chancellor
of the Exchequer Nigel Lawson said.
    He said in a parliamentary debate, "I can now tell the House
(of Commons) that the dollars that were sold from the reserves
in September and October (1986) have subsequently all been
repurchased - at a profit of some tens of millions of pounds."
    Hindsight had proved him right to resist market pressures
then for a two percentage point interest rate rise, he said.
The increase in base rates was instead limited then to one
point.
    During a debate on the 1987/88 British budget which Lawson
unveiled last week, he said that "during the period of foreign
exchange market turbulence which followed the somewhat
inconclusive Group of Five and Group of Seven meetings at the
end of September, I authorised the Bank of England to intervene
unusually heavily in order to buy breathing space that would
enable me to confine the interest rate rise to one pct rather
than the two pct the market was then pressing for."
    He said that that one percentage point increase, effected
in October 1986, had been reversed by this month's two half
point cuts in banks' base lending rates. They are now at 10
pct.
    Treasury figures show that the underlying change in British
reserves - seen as a guide to possible Bank of England
intervention on foreign exchange markets - suggest that the
authorities sold around 1.0 billion dlrs during September and
October 1986, government sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14100" NEWID="8579">
<DATE>23-MAR-1987 18:55:02.57</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;f2673&#31;reute
h f BC-BAY-FINANCIAL-CORP-&lt;B   03-23 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>BAY FINANCIAL CORP &lt;BAY> 3RD QTR FEB 28</TITLE>
<DATELINE>    BOSTON, March 23 -
    </DATELINE><BODY>Shr loss 1.34 dlrs vs profit two cts
    Net loss 4.5 mln vs profit 46,000
    Revs 7.6 mln vs 8.9 mln
    Nine months
    Shr loss 1.41 dlrs vs loss two cts
    Net loss 4.7 mln vs loss 76,000
    Revs 30.2 mln vs 23.8 mln
    NOTE:1986 includes gain on disposition of investments of
2,454 dlrs in 3rd qtr and 5,306 dlrs in nine months
respectively. 1987 includes gain on disposition of investments
of five dlrs in 3nd qtr and 7,052 dlrs in nine months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14101" NEWID="8580">
<DATE>23-MAR-1987 18:59:16.91</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;f2676&#31;reute
r f BC-CORRECTED---MANHATTAN   03-23 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED - MANHATTAN NATIONAL&lt;MLC>4TH QTR LOSS</TITLE>
<DATELINE>    NEW YORK, March 23 -
    </DATELINE><BODY>Oper shr loss 20 cts vs loss 81 cts
    Oper net loss 1,042,000 vs loss 4,077,000
    Revs 38.5 mln vs 50.3 mln
    12 mths
    Oper shr profit six cts vs loss 43 cts
    Oper net profit 336,000 vs loss 2,176,000
    Revs 137.8 mln vs 209.1 mln
    (Company corrects to show profit rather than a loss for
current 12 mths oper shr and oper net.)
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14102" NEWID="8581">
<DATE>23-MAR-1987 18:59:57.11</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;f2677&#31;reute
r f BC-AMBRIT-INC-&lt;ABI>-4TH   03-23 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>AMBRIT INC &lt;ABI> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    CLEARWATER, Fla., March 23 - 
    </DATELINE><BODY>Shr 28 cts vs nil
    Net 4,568,000 vs 7,000
    Revs 37.5 mln vs 7,835,000
    Year
    Shr 13 cts vs nil
    Net 5,011,000 vs 30,000
    Revs 145.5 mln vs 51.0 mln
    Note: Current year results includes revs of 87.2 mln dlrs
from Chocolate Co Inc, which was acquired in March 1986.
    Note: Shr results after preferred dividend payments of
954,000 dlrs for current qtr and 3,410,000 dlrs for current
year.
    Net includes gains from sale of investment in Sheraton
Securities International of 5,807,000 dlrs vs 928,000 dlrs for
qtr and 8,705,000 dlrs vs 928,000 dlrs for year.
    Net also includes extraordinary loss from early retirement
of debt of 303,000 dlrs for year-ago 12 mths.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14103" NEWID="8582">
<DATE>23-MAR-1987 19:00:18.84</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;f2678&#31;reute
d f BC-COMMUNICATIONS-CORP-O   03-23 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMUNICATIONS CORP OF AMERICA 2ND QTR DEC 31</TITLE>
<DATELINE>    DALLAS, March 23 -
    </DATELINE><BODY>Shr loss 33 cts vs loss 48 cts
    Net loss 1.7 mln vs loss 2.5 mln
    Revs 6.3 mln vs 10.2 mln
    Six months
    Shr loss 54 cts vs loss 75 cts
    Net loss 2.8 mln vs loss 3.9 mln
    Revs 15.2 mln vs 23.4 mln
       
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14104" NEWID="8583">
<DATE>23-MAR-1987 19:00:27.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2679&#31;reute
r f BC-CAR-BOMB-EXPLODES-AT   03-23 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>CAR BOMB EXPLODES AT BRITISH BASE IN W. GERMANY</TITLE>
<DATELINE>    BONN, March 23 - </DATELINE><BODY>A big car bomb exploded at the
headquarters of the British Rhine army near Moenchengladbach in
West Germany tonight, police said.
    A police spokesman said it was not immediately known if
anyone was killed in the blast. He said some people had been
injured but did not know how many.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14105" NEWID="8584">
<DATE>23-MAR-1987 19:21:00.17</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2693&#31;reute
f f BC-Dollar-hits-record-lo   03-23 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Dollar hits record low of 149.78 yen - Tokyo dealers
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14106" NEWID="8585">
<DATE>23-MAR-1987 19:32:46.99</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2694&#31;reute
u f BC-CBI-SURVEY-POINTS-TO   03-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CBI SURVEY POINTS TO SURGE IN U.K. OUTPUT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>British manufacturers expect output to
grow rapidly in the four coming months, a Confederation of
British Industry (CBI) survey shows.
    The CBI's monthly trends survey for March shows that 43 pct
of the 1,685 polled U.K. Firms expect to raise output in the
next four months. Only nine pct expect output to fall while 47
pct said production would likely remain unchanged.
    The CBI said the positive balance between firms expecting
production to rise and those forecasting a fall, at 34 pct, was
the highest such figure recorded since 1977.
    In the CBI's February survey, 37 pct of companies expected
a rise in output while 54 pct forecast production would remain
at present levels and eight pct expected production to drop.
    The survey also showed that 23 pct of the polled companies
consider current order books to be above normal while 58 pct
view them as normal and only 19 pct regard them as below
normal.
    This was the highest positive balance since the question
was first asked more than 10 years ago, the CBI said.
    In February, the figures were 24 pct, 22 pct and 54 pct
respectively.
    Companies also rated their export possibilities higher. Of
all polled companies, 23 pct rated their export order books to
be above normal and 53 pct described them as normal while only
23 pct believed export orders were below normal levels.
    In February, 25 pct thought their export books were below
normal and 50 pct believed them to be about normal. At 23 pct,
the proportion of companies rating their export books above
normal was unchanged between February and March.
    On prices, the survey showed that 62 pct of companies
expect average prices at which domestic orders are booked will
remain unchanged in the coming four months, up from 57 pct in
February.
    From 38 pct in February, only 31 pct of firms now expect
prices to rise before July. Six pct forecast prices will fall,
against four pct a month earlier.
    Commenting on the survey, CBI economic situation committee
chairman David Wigglesworth said sterling's more competitive
level against many European currencies had improved exports.
    "But interest rates are still much higher than in our
competitor countries and British manufacturers will still have
to work hard to win new business both in overseas markets and
in the substitution of British-made goods for imports here at
home," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14107" NEWID="8586">
<DATE>23-MAR-1987 19:36:49.15</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2700&#31;reute
f f BC-TOKYO---Bank-of-Japan   03-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TOKYO - Bank of Japan buys small amount of dollars, dealers said
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14108" NEWID="8587">
<DATE>23-MAR-1987 19:37:27.24</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2701&#31;reute
f f BC-Miyazawa-says-time-ha   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Miyazawa says time has come for major nations to act on exchange rates
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14109" NEWID="8588">
<DATE>23-MAR-1987 19:44:59.52</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>france</D><D>japan</D><D>usa</D><D>uk</D><D>canada</D><D>west-germany</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2702&#31;reute
b f BC-MAJOR-NATIONS-MUST-AC   03-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR NATIONS MUST ACT ON CURRENCIES - MIYAZAWA</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa said the
time has come for major industrialised nations to take action
on exchange rates in line with their agreement last month in
Paris.
    In Paris, Britain, Canada, France, Japan, the U.S. And West
Germany agreed to coooperate to hold currency rates around
their then current levels.
    Miyazawa would not say what specific measures major nations
would take, but told reporters the measures had been discussed
in Paris. The dollar fell to a record low against the yen this
morning, piercing the 150 yen barrier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14110" NEWID="8589">
<DATE>23-MAR-1987 23:17:10.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F M C
&#22;&#22;&#1;f2787&#31;reute
u f BC-BOLIVIAN-MINERS,-GOVE   03-23 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIVIAN MINERS, GOVERNMENT CONTINUE STRIKE TALKS</TITLE>
<DATELINE>    LA PAZ, March 23 - </DATELINE><BODY>Union leaders of 9,000 miners employed
by the state corporation Comibol and government representatives
will resume talks tomorrow in an effort to end a six-day strike
over pay, a spokesman for the miners said.
    A labour ministry spokesman said the talks, which began
today, were suspended when labour minister Alfredo Franco left
to attend a session of Congress also attended by visiting West
German President Richard von Weizsaecker.
    But mining minister Jaime Villalobos told reporters an
agreement in principle on the rehabilitation of Comibol had
been reached. He did not elaborate.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14111" NEWID="8590">
<DATE>23-MAR-1987 23:59:54.47</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0000&#31;reute
f f BC-BANK-OF-JAPAN-RE-ENTE   03-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF JAPAN RE-ENTERS MARKET AND STEPS UP DOLLAR BUYING, DEALERS SAY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14112" NEWID="8591">
<DATE>24-MAR-1987 00:15:26.95</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0004&#31;reute
b f BC-BANK-OF-JAPAN-STEPS-U   03-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN STEPS UP DOLLAR BUYING</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>The Bank of Japan stepped up its dollar
buying as it re-entered the market after the midday Tokyo lunch
break, dealers said.
    They said the bank seemed more determined to support the
dollar than it did this morning.
    Several dealers said the central bank intervened this
afternoon when the dollar stood around 149 yen.
    One said it purchased 150 to 200 mln dlrs in the half-hour
since the market re-opened after its lunchtime closure. Another
said the bank still has buying orders in the market.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14113" NEWID="8592">
<DATE>24-MAR-1987 00:24:44.75</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0010&#31;reute
u f BC-YEUTTER-SEES-GATT-CON   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SEES GATT CONSENSUS ON FARM TRADE REFORM</TITLE>
<AUTHOR>    By Graham Hillier, Reuters</AUTHOR>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>U.S. Trade Representative
Clayton Yeutter said trade ministers meeting here have reached
a general consensus on agricultural trade reform under the
latest Uruguay round of the General Agreement on Tariffs and
Trade (GATT).
    Yeutter gave no precise details of the understanding but
told journalists the consensus covers the principles involved
in agricultural trade reform and what needs to be done to
improve the global situation in agriculture.
    Delegates from 22 countries are meeting informally to
discuss progress made since the latest GATT round was launched
in Punta del Este, Uruguay, last September.
    Yeutter said "at least people seem to be going down the same
road...But how that translates ultimately into negotiations is
another matter entirely."
    There seems to be an understanding of the need to deal with
the problem quickly and "a more common understanding of how we
are going to get from here to there," Yeutter said.
    However, the hard work is still to come, with a couple of
years of tough negotiations ahead, he said.
    "It is ludicrous for the nations of the world to plough
immense amounts of financial resources into the production of
items that nobody wants to buy," he said.
    He said the long-term answer is to switch some of the
financial resources now committed to agriculture to other more
productive areas. This would help agriculture because some its
inefficient non-productive segments would stop operating, he
said.
    Individual segments in many countries may lose in the
process, but it should result in a more rational system of
world-wide production within 10 or 15 years, he said.
    It is important that the agriculture negotiations reach a
relatively early conclusion because the U.S. Is spending 26
billion dlrs a year and the European Community probably more
than that, which is an ineffective use of financial resources,
he said.
    Asked about the prospect of a priority for agriculture in
the negotiations, he said "one has to be politically
realistic... If there is any chance of getting it (agricultural
trade reform) done in two to three years it's going to have to
be as part of a larger package."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14114" NEWID="8593">
<DATE>24-MAR-1987 00:42:43.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0022&#31;reute
u f BC-HAIG-SAYS-HE-PLANS-TO   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>HAIG SAYS HE PLANS TO RUN FOR U.S. PRESIDENT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Former U.S. Secretary of State
Alexander Haig has announced his intention to run for
president.
    Haig, a former general and NATO chief who served seven
presidents but never held elected office, said he will formally
announce his bid to run for the Republican presidential
nomination at a news conference later today.
    Haig's aides say he starts far back in the field of
Republican hopefuls, which is currently dominated by
Vice-President George Bush and Senate Minority Leader Robert
Dole, neither of whom have yet declared their intentions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14115" NEWID="8594">
<DATE>24-MAR-1987 00:56:08.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>bolivia</D><D>west-germany</D></PLACES>
<PEOPLE><D>von-weizsaecker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0027&#31;reute
u f BC-WEST-GERMANY-SHARPLY   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMANY SHARPLY BOOSTS AID TO BOLIVIA</TITLE>
<DATELINE>    LA PAZ, March 24 - </DATELINE><BODY>West German aid to Bolivia will rise to
91 mln marks in 1987 from 50 mln in 1986, West German President
Richard Von Weizsaecker said.
    Weizsaecker, speaking to the Bolivian Congress yesterday,
said of Latin America's 380 billion dlr foreign debt, "Debtor
countries and creditors must cooperate with the banks and
international financial organizations to find long-term
solutions." Bolivia's debts total 4.4 billion dlrs.
    "We wish to reach a reasonable agreement with Bolivia so
that the country can experience a significant financial
respite," Weizsaecker said.
    The two countries earlier signed two technical and
financial cooperation treaties. West German officials said aid
last year included 35 mln marks in financial cooperation.
    Bolivian Foreign Minister Guillermo Bedregal told reporters
West Germany would provide 300 mln marks to help fight
Bolivia's cocaine trade.
    The illegal trade in cocaine is West Germany's most
worrisome drug problem, West German officials said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14116" NEWID="8595">
<DATE>24-MAR-1987 01:02:07.45</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;f0033&#31;reute
u f BC-SWIRE-SEEN-REPORTING   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SWIRE SEEN REPORTING 20 PCT RISE IN 1986 PROFIT</TITLE>
<AUTHOR>    By Allan Ng, Reuters</AUTHOR>
<DATELINE>    HONG KONG, March 24 - </DATELINE><BODY>Swire Pacific Ltd &lt;SWPC.HKG> is
likely to show a more than 20 pct rise in 1986 operating
profits when it reports results tomorrow, reflecting gains in
its aviation and property businesses, share analysts said.
    Analysts polled by Reuters estimated after-tax profits from
operations will be between 1.525 billion and 1.8 billion dlrs
compared with 1.23 billion in 1985.
    They also said Swire will have an extraordinary gain of
about 1.38 billion dlrs from the flotation of its Cathay
Pacific Airways Ltd &lt;CAPH.HKG> unit last May.
    Swire had an extraordinary gain of 59.1 mln dlrs in 1985.
    Share analysts said Swire will set a 36 cent final dividend
for its "A" shares, making a total of 54 cents, after 47 cents
adjusted for a two-for-one bonus issue in 1985.
    Aviation and properties together account for 75 pct of the
company's net asset value and about 85 pct of its net profits,
analysts said.
    The company's aviation division consists of its majority
stake in Cathay Pacific Airways Ltd and its 25 pct interest in
&lt;Hongkong Aircraft Engineering Co Ltd>, which is also 25 pct
owned by Cathay.
    Cathay last week reported 1986 profits climbed to 1.23
billion dlrs from 777 mln in 1985, partly because of lower fuel
costs and greater traffic.
    Swire's share of Cathay, which stood at 70 pct before the
flotation, fell to 54.25 pct at the end of last year and has
since slipped to 50.23 pct.
    Hongkong Aircraft reported this month its 1986 net profits
rose 29.5 pct to 115.5 mln dlrs.
    Tony Measor, an analyst at Hong Leong Securities Ltd,
estimates Swire's profits will be 1.525 billion dlrs.
    "Much depends on properties," said Measor. "And they did a lot
better in the second half of the year."
    Estimates of profits from the firm's wholly owned Swire
Properties Ltd unit range widely from 500 mln dlrs to 700 mln
compared with 570 mln dlrs in 1985.
    Swire Properties recorded an interim profit of 120 mln dlrs
for the first half of 1986, well below 260 mln dlrs for the
same 1985 period, but analysts said that was due mainly to the
low level of completion of new residential flats. The firm's
properties consist mainly of the Taikoo Shing residential
development and two luxury housing projects.
    Hoare Govett Asia Ltd said the completion of 1,100 flats in
Taikoo Shing will have yielded profits of 300 mln dlrs in
second-half 1986.
    During the year property prices continued to rise as more
people bought real estate, benefiting from low interest rates,
analysts said.
    "At the end of last year, flats in Taikoo Shing were selling
at 1,100 dlrs per square foot, up by about 20 pct from a year
ago," said Frederick Tsang of Mansion House Securities (F.E.)
Ltd.
    Swire is developing a large commercial and hotel complex in
the central business district of Hong Kong but it will not
provide income until the first stage is completed next year.
    The company also sold three properties and a part interest
in a proposed hotel development, which should result in
extraordinary gains of 60 mln dlrs in 1986, according to James
Capel (Far East) Ltd.
    Swire's trading and manufacturing operations are expected
to earn 300 mln dlrs, up 22 pct from 1985 but its shipping and
offshore services are likely to post a small loss of about 10
mln dlrs because of depressed market conditions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14117" NEWID="8596">
<DATE>24-MAR-1987 01:11:51.92</DATE>
<TOPICS><D>trade</D><D>veg-oil</D><D>coconut-oil</D></TOPICS>
<PLACES><D>new-zealand</D><D>philippines</D></PLACES>
<PEOPLE><D>concepcion</D></PEOPLE>
<ORGS><D>gatt</D><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0039&#31;reute
u f BC-(CORRECTED)---PHILIPP   03-24 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>(CORRECTED) - PHILIPPINES CRITICISES EC FOR OIL LEVY</TITLE>
<DATELINE>    TAUPO, New Zealand, March 23 - </DATELINE><BODY>Philippines Trade and
Industry Secretary Jose Concepcion told world trade ministers
he wondered if their agreement was of any real value after the
European Community (EC) proposed a levy on vegetable oils.
    Concepcion, speaking at an informal meeting of the General
Agreement on Tariffs and Trade (GATT) here, said ministers
declared in Uruguay last September that the trade of
less-developed nations should not be disrupted.
    He said the EC not only ignored Manila's request for lower
tariffs on coconut oil but proposed a levy on vegetable oils
and fats that are vital exports for Southeast Asian countries.
    Concepcion said while the levy might be rejected by the EC
Council of Ministers, he noted that "I cannot help but wonder
whether the agreements we produce in meetings like this are of
any real value."
    He also said industrialised nations saved about 65 billion
U.S. Dlrs in 1985 through low commodity prices, but this had
affected the ability of developing nations to import goods and
services.
    "The health and the growth of world trade requires that the
new development of developing countries losing their share of
world trade be arrested and reversed," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14118" NEWID="8597">
<DATE>24-MAR-1987 01:17:03.97</DATE>
<TOPICS><D>reserves</D><D>trade</D><D>money-fx</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;f0042&#31;reute
u f BC-TAIWAN-COMPLAINS-ABOU   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN COMPLAINS ABOUT SIZE OF RESERVES</TITLE>
<AUTHOR>    By Chen Chien-kuo, Reuters</AUTHOR>
<DATELINE>    TAIPEI, March 24 - </DATELINE><BODY>Taiwan's foreign exchange reserves,
swollen by strong trade surpluses to a record 53 billion U.S.
Dlrs, are becoming a problem, government officials said.
    Official figures show the latest level compares with the
previous record of 51 billion dlrs on March 4 and about 26
billion in late March 1986.
    Central bank Governor Chang Chi-cheng told reporters the
increase in reserves was the result of heavy intervention by
the bank on the local interbank market. It bought nearly two
billion U.S. Dlrs between March 5 and 23, he said.
    Wang Chao-ming, vice chairman of the government's Council
for Economic Planning and Development, told Reuters the rising
reserves were "a big headache for Taiwan."
    He said the government expects heavier pressure from the
U.S., Where protectionist bills are being proposed against
nations such as Taiwan and Japan with large trade surpluses
with the U.S.
    Wang said the government would launch new measures within
the next two months to further reduce import tariffs and open
the market wider to foreign products, especially those from the
U.S.
    Wang said the measures aim at helping reduce Taiwan's trade
surplus, which rose to 2.73 billion U.S. Dlrs in the first two
months of 1987 from 2.02 billion a year earlier. Nearly 90 pct
of the surplus was with the U.S.
    Vice Economic Minister Wang Chien-shien agreed with Wang's
remarks and said efforts to avert U.S. Protectionism were
running out of time. "We must do it quickly or face retaliation
from Washington," he said.
    He said the measures would include removal of trade
barriers on insurance and inland services for U.S. Companies.
    Chang Chi-cheng said the central bank could not stop buying
U.S. Dollars because of heavy sales by local exporters who fear
the strong local dollar will cause them exchange losses.
    He said the bank is studying revision of the foreign
exchange rules in hope of further reducing currency controls,
but declined to give details.
    The Taiwan dollar has risen about 15 pct against the U.S.
Dollar since September 1985. It opened at 34.38 to the U.S.
Dollar today and is expected to rise further to 33 in June and
to 32 by end-year, some foreign bankers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14119" NEWID="8598">
<DATE>24-MAR-1987 01:30:28.95</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0047&#31;reute
u f BC-AUSTRALIAN-MINISTER-S   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN MINISTER SEES TARGETED OIL TAX STRATEGY</TITLE>
<DATELINE>    SURFERS PARADISE, Australia, March 24 - </DATELINE><BODY>Australia's crude
oil tax strategy is probably best tackled in terms of a
targeted rather than broadly-based approach, Federal Resources
and Energy Minister Gareth Evans told a meeting here.
    He told the Australian Petroleum Exploration Association
(APEA) annual conference there was a prospect of developing a
package that would recognise the government's economic
priorities while also meeting some of the industry's concerns.
    Evans was referring to a nearly completed government review
of oil taxation.
    Evans said there were plenty of examples where targeted
approaches to oil industry taxation had produced good results
in recent years.
    These include the reduction in the top marginal crude
excise rate on 'old' Bass Strait oil found before September
1975 to 80 pct from 87 pct, and the waiver of excise on onshore
oil announced last September, he said.
    The industry, through the APEA, has been calling for the
elimination of secondary taxation on oil in order to boost
incentives for prospecting against a background of weak prices
and Australia's relatively low exploration levels.
    "While nobody wants to add further unnecessary complexity to
an already complex taxation regime, I am inclined to favour
these kinds of tailored approaches ahead of sweeping changes,
which leave (government) revenue much reduced and may still
leave a lot of uncertainty as to what individual companies are
going to do in major areas," Evans said.
    He said the government did not intend to change its
resource rent taxation (RRT) legislation, now before
parliament, in response to industry calls to allow all
exploration expenditure in a given area to be deductible.
    As previously reported, RRT is a tax of 40 pct limited to
highly prospective offshore areas, based on profits after a
certain rate of return has been achieved for individual
projects.
    APEA has said it is not a true profit-based tax because
exploration deductibility is limited to successful projects.
    Evans said the decision not to change RRT was based more
than anything on the government's desire to ensure the
certainty and stability of the new regime, adding that major
investments have already been planned on the existing ground
rules.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14120" NEWID="8599">
<DATE>24-MAR-1987 01:42:03.41</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>new-zealand</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0056&#31;reute
u f BC-GATT-ROUND-MAY-STOP-G   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>GATT ROUND MAY STOP GROWING TRADE PROBLEMS - U.S.</TITLE>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>A successful new GATT
(General Agreement on Tariffs and Trade) round is needed to
halt growing bilateral trade problems between major trading
partners, U.S. Trade Representative Clayton Yeutter said.
    Yeutter, in New Zealand for informal GATT ministerial
talks, told Reuters bilateral trade disputes are increasing
because the multilateral system is inefficient.
    "That is really a strong rationale why we need a new GATT
round," he said. "The very existence of all these bilateral
irritants clearly emphasises the need to develop multilateral
solutions to some of these problems."
    The eighth GATT round of negotiations was launched at Punta
del Este in Uruguay in September 1986. Agriculture and services
were included in the negotiations for the first time.
    The growing debt burden of Latin American and African
nations will also provide impetus for the GATT round to
succeed, he said.
    "Clearly those countries need to develop their export
endeavours and they need open markets for that to happen and
that's the basic objective of the new GATT round," he said.
    But he said the GATT round is a long term endeavour. It
will not give any short term relief for debt ridden countries,
but it will make a difference in 10 to 15 years.
    "It's a worthwhile activity from their standpoint because
these debts are not going to go away in the next year or two,"
he said.
    "They ought to be very strongly supported in the GATT round
as a mechanism for relieving their debt burdens or making
possible debt amortisation in the future," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14121" NEWID="8600">
<DATE>24-MAR-1987 01:46:56.92</DATE>
<TOPICS><D>earn</D><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0059&#31;reute
u f BC-SHELL-AUSTRALIA-REPOR   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL AUSTRALIA REPORTS 45.79 MLN DLR 1986 PROFIT</TITLE>
<DATELINE>    MELBOURNE, March 24 - </DATELINE><BODY>Royal Dutch/Shell Group &lt;RD.AMS> unit
&lt;Shell Australia Ltd>, said its net profit fell to 45.79 mln
dlrs in 1986 from 66.76 mln in 1985.
    Revenue fell to 4.55 billion dlrs from 4.91 billion, in an
extremely competitive and over-regulated environment, chairman
and chief executive Kevan Gosper said in a statement. A 26.25
mln dlr annual dividend would be paid to the parent after a
very disappointing year.
    "A return of 2.2 pct on funds employed represents a very
meagre return ... In an economy suffering from inflation of
around 10 pct," he said.
    Gosper said the results reflected heavy reliance on
downstream oil and chemicals, poor coal and metal returns and
the financial burden of the North-West Shelf gas project.
    Duties, royalties and taxes rose to 1.37 billion dlrs
against 852.72 mln in 1985 and Gosper urged the government to
move quickly to lift costly and unnecessary regulation.
    "It is just as important for Australia to maintain a
financially healthy, technically advanced refining and
marketing industry as it is to sustain oil exploration and
production," he said.
    "The Australian oil industry has the experience and the
capacity to serve the nation and its shareholders well if the
government would stop putting roadblocks in our way," he said.
    Shell invested 500 mln dlrs over the past five years to
upgrade its oil refining and marketing business, but further
investment required an appropriate rate of return, he said.
    Exploration and evaluation spending in 1986 fell to 18.77
mln dlrs from 26.35 mln, while investment in property and plant
rose to 374.25 mln from 353.94 mln a year earlier.
    Gosper said oil companies would be under intense pressure
in 1987 because of forecast slow economic growth.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14122" NEWID="8601">
<DATE>24-MAR-1987 01:53:38.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0063&#31;reute
u f BC-SUPERCONDUCTOR-RESEAR   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SUPERCONDUCTOR RESEARCH MAY BOOST TOKYO STOCKS</TITLE>
<AUTHOR>    By James Kynge, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Research into materials that conduct
electricity with minimal resistance could lead to further gains
on Tokyo's booming stock market, brokers said.
    They said the share prices of companies likely to benefit
from the so-called 'superconductors' rose sharply last week
after publication of articles about the research in the
economic daily Nihon Keizai Shimbun. The companies were in the
non-ferrous metal, electrical and mining sectors.
    But industry analysts said development problems remain and
commercial application is still some years away.
    "The area clearly has significant applications but it won't
be commercially viable for a few years," said Thomas Murtha,
technology analyst with James Capel and Co.
    Industry analysts said the use of superconductors could
bring sharp cuts in electricity costs if present problems can
be overcome.
    Nikko Securities Co Ltd analyst Shinichi Nakayama said
superconductors could have applications in computer circuitry,
electricity generation and storage, and scientific research.
    The superconductors are made of a blend of metals fused in
a heat-firing process similar to that used in ceramics.
    Nakayama said Kawasaki Steel Corp &lt;KAWS.T> predicted in an
in-house study that by 1990 the worldwide market would be worth
150 billion yen for superconductors used in computers, 50
billion for those used in electricity generators and 150
billion for those used in electricity storage.
    The study said that by 1995 there would be trains capable
of 500 km an hour, hovering on a magnetic field and powered
mainly by superconductors. One hundred billion yen worth of
superconducting material would be needed for such a train.
    The Kawasaki study also said superconductors would be used
in nuclear fusion physics, but not until the year 2000.
    Industry analysts said superconductors have no commercial
applications at present. In laboratory tests the conductor must
be cooled by expensive liquid helium or hydrogen before minimum
electrical resistance is achieved, though liquid nitrogen,
which is much less expensive, has recently also been used
successfully, they said.
    Despite this, investors on Tokyo's stock market have
boosted shares of firms related to superconducting materials.
    From the close of trading on March 17 until yesterday's
close, Mitsubishi Mining and Cement Co Ltd's &lt;MIMI.T> share
price rose 140 yen to 485 yen.
    In the same period Mitsubishi Metal Corp &lt;MITM.T>, rose 95
to 745 yen, Sumitomo Metal Mining Co Ltd &lt;TOMM.T> rose 200 to
1440 yen, and Kawasaki Steel rose 15 to 260.
    Furukawa Electric Co Ltd shares &lt;URUT.T> jumped 104 yen to
689 yen, and Fuji Electric Co Ltd &lt;FUJE.T> rose 141 to 619.
    Brokers said shares of suppliers of scientific instruments
needed to conduct the superconductor research also rose.
    Industry analysts said the most favoured superconductor,
made from a blend of yttrium, barium and copper, is currently
undergoing laboratory tests under a scheme coordinated by the
Ministry of International Trade and Industry (MITI).
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14123" NEWID="8602">
<DATE>24-MAR-1987 02:28:25.81</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D><D>tamura</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0090&#31;reute
u f BC-NAKASONE-INTERVENES-I   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE INTERVENES IN MICROCHIP DISPUTE WITH U.S.</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone
intervened to try to resolve Japan's escalating dispute with
the U.S. Over semiconductor trade, government officials said.
    At today's Cabinet meeting, Nakasone told Trade and
Industry Minister Hajime Tamura to redouble his efforts to calm
U.S. Anger over what it sees as Japan's unfair trade practices
in semiconductors.
    Nakasone intervened only two days before a scheduled
meeting of the Reagan administration's Economic Policy Council
to consider whether Japan is reneging on its microchip pact
with the U.S.
    That pact, agreed last year after months of negotiations,
calls on Japan to stop selling cut-price chips in world markets
and to raise its imports of U.S. Semiconductors.
    Senior U.S. Officials have accused Tokyo of failing to live
up to the accord and have threatened retaliatory action.
    Yesterday, Tamura's Ministry of International Trade and
Industry (MITI) launched a last-ditch attempt to salvage the
pact by writing letters to U.S. Policy makers setting out
Japan's case and telling Japanese chip makers to cut output.
    In his letter, the contents of which were released today,
Tamura said a MITI survey carried out at the beginning of March
showed Japanese producers were not selling at cut-rate prices
in Asian markets.
    In a separate letter sent to senior U.S. Officials, MITI
vice minister for international affairs Makoto Kuroda suggested
the two countries could conduct a joint investigation into
allegations of Japanese chip dumping in such markets.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14124" NEWID="8603">
<DATE>24-MAR-1987 02:41:14.94</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C T
&#22;&#22;&#1;f0100&#31;reute
u f BC-NORTHEAST,-EASTERN-TH   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHEAST, EASTERN THAILAND FACE SEVERE DROUGHT</TITLE>
<DATELINE>    BANGKOK, March 24 - </DATELINE><BODY>Thirteen provinces, mainly in northeast
and eastern Thailand, have been suffering a worse than average
drought since mid-February and the dry spell is expected to
last until early May, Deputy Interior Minister Santi
Chaiviratana said.
    Santi told reporters the government is launching a drought
relief operation mainly involving the use of water trucks to
send water to affected farming areas.
    He did not say what crops have been damaged in northeast
Thailand but said large durian orchards in eastern Chanthaburi
province have suffered heavy losses.
    The Minister said the affected areas include eight
provinces in the northeast, two in eastern Thailand and three
rubber growing provinces in the south near the Malaysian
border.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14125" NEWID="8604">
<DATE>24-MAR-1987 02:46:14.18</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>uk</D><D>australia</D><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0103&#31;reute
u f BC-U.K.,-AUSTRALIA-OFFER   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K., AUSTRALIA OFFER WHEAT TO BANGLADESH</TITLE>
<DATELINE>    DHAKA, March 24 - </DATELINE><BODY>Britain and Australia have offered a
total of 129,250 tonnes of wheat to Bangladesh as grants to
contain rising cereal prices and help support rural employment
projects, officials said.
    They said 79,250 tonnes of wheat promised by Britain would
be shipped next week and used for the government's "Food for
Work" program in the villages.
    Under the program, workers building roads, digging
irrigation canals and engaged in other rural development
activities get their daily wages in wheat instead of money.
    The 50,000 tonnes of Australian wheat would arrive in
Bangladesh next month and be sold under open-market operations
designed to stop price increases, the officials said.
    Prices of rice and wheat have risen at least 15 pct in the
past month, market sources said. But the government expects
prices to fall after the wheat harvest next month.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14126" NEWID="8605">
<DATE>24-MAR-1987 02:52:46.06</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0109&#31;reute
f f BC-Sumita-says-Bank-of-J   03-24 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Sumita says Bank of Japan will intervene if necessary
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14127" NEWID="8606">
<DATE>24-MAR-1987 03:16:30.93</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0131&#31;reute
u f BC-WORLD-BANK-CHIEF-PLED   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK CHIEF PLEDGES SUPPORT TO INDONESIA</TITLE>
<DATELINE>    JAKARTA, March 24 - </DATELINE><BODY>World Bank president Barber Conable
pledged the Bank's support to help Indonesia adjust to lower
world oil prices, but said further deregulation of its
protected economy was needed.
    Speaking to reporters after talks with President Suharto,
he said he expected Jakarta to do more to liberalise the
economy and deregulate trade policy.
    Indonesia, hurt by the fall in oil prices last year which
cut the value of its crude exports in half, is the Third
World's sixth largest debtor. It has received 10.7 billion dlrs
from the World Bank in the past 20 years.
    Conable said the World Bank, which granted Indonesia a 300
mln dlr loan last month to help its balance of payments, was
prepared to back Jakarta in taking the right steps to adjust to
lower oil and primary commodity prices.
    "We are prepared to support those steps which we believe are
consistent with the development of the Indonesian economy," he
said.
    He said Jakarta's willingness to move quickly after last
year's collapse in oil price saved Indonesia from some of the
difficulties now faced by other countries.
    Indonesia devalued its currency by 31 pct against the
dollar in September to avoid a balance of payments crisis, and
has announced a series of measures since May intended to
stimulate exports, encourage foreign investment and revitalise
the economy.
    However, key monopolies in areas like steel and plastics
and high tariff barriers remain in place.
    Conable arrived in Indonesia on Saturday and has since met
14 Indonesian cabinet ministers to review the country's
borrowing needs and the impact of falling oil prices on the
country.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14128" NEWID="8607">
<DATE>24-MAR-1987 03:21:02.05</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0138&#31;reute
b f BC-SUMITA-SAYS-BANK-WILL   03-24 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMITA SAYS BANK WILL INTERVENE IF NECESSARY</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Bank of Japan Governor Satoshi Sumita
said in a statement the central bank will intervene in foreign
exchange markets to stabilise exchange rates if necessary in
close cooperation with other major industrial nations.
    Sumita said the Bank will take adequate measures including
market intervention, if necessary, in line with the February 22
Paris agreement by six major industrial nations.
    Canada, Britain, France, Japan, the U.S. And West Germany
agreed to cooperate in stabilising exchange rates around
current levels. Sumita's statement was issued after the dollar
slipped below 150 yen to hit a record low of 148.40.
    "It is inevitable that exchange rates fluctuate under the
system of floating rates," Sumita said.
    The fact the dollar plunged below 150 yen does not mean
anything significant under the floating system, he said.
    The six nations agreed in Paris exchange rates prevailing
then were broadly consistent with underlying economic
fundamentals and further substantial rate shifts could damage
growth and adjustment prospects in their countries, the Paris
statement said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14129" NEWID="8608">
<DATE>24-MAR-1987 03:21:22.24</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>new-zealand</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0140&#31;reute
u f BC-YEUTTER-SAYS-U.S.-JAP   03-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SAYS U.S.-JAPAN TRADE DIFFICULTIES REMAIN</TITLE>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>U.S. Trade Representative
Clayton Yeutter said he was unsure whether some of the trade
issues straining U.S.-Japanese relations would be resolved
before the two countries open trade talks in late April.
    "We are having high level discussions on them (the issues)
within the United States...The relationship on some of those is
very strained between us (Japan) at the moment and we need to
relieve those strains at the earliest possible date," he said.
    "I am not sure we can wait until late April," he added.
    Yeutter is in New Zealand for a two-day informal meeting of
trade ministers who are reviewing the Uruguay round of the
General Agreement on Trade and Tariffs (GATT).
    He said he will meet the Japanese delegation over the next
few days but declined to discuss methods of relieving the
strain between the two countries.
    Yeutter said earlier the three most contentious trade
issues were semiconductors, Japanese government unwillingness
to allow public entities to buy U.S. Super-computers and the
barring of U.S. Firms from the eight billion U.S. Dlr Kansai
airport project near Osaka.
    The Japanese delegation to the GATT talks said in a
statement yesterday they are making major efforts to dismantle
trade barriers in their country.
    "I am convinced that they are attempting to move their
policies in the right direction. The question is how far and
how fast," Yeutter said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14130" NEWID="8609">
<DATE>24-MAR-1987 03:23:06.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0144&#31;reute
f f BC-P-AND-O-1986-PRETAX-P   03-24 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>P AND O 1986 PRETAX PROFIT 174.1 MLN STG VS 125.6 MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14131" NEWID="8610">
<DATE>24-MAR-1987 03:29:39.18</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0152&#31;reute
b f BC-KUWAIT-SAYS-OPEC-2.4   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>KUWAIT SAYS OPEC 2.4 MLN BPD BELOW CEILING</TITLE>
<DATELINE>    KUWAIT, March 24 - </DATELINE><BODY>Kuwaiti oil minister Sheikh Ali
al-Khalifa al-Sabah said OPEC was producing well below its oil
output ceiling and this would help prices move higher,
according to a Kuwaiti newspaper interview.
    The al-Rai al-Aam newspaper quoted him as saying OPEC was
pumping 2.4 mln barrels per day (bpd) less than its 15.8 mln
bpd ceiling, while consumers were drawing down their petroleum
stocks at a rate of 4.5 mln bpd.
    As long as OPEC maintains its output curbs, demand for its
oil will rise in April and May, Sheikh Ali said, adding that
Kuwait was strongly committed to its OPEC quota.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14132" NEWID="8611">
<DATE>24-MAR-1987 03:29:44.40</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;f0153&#31;reute
b f BC-PENINSULAR-AND-ORIENT   03-24 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>PENINSULAR AND ORIENTAL 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 24 -
    </DATELINE><BODY>Earnings per one stg of deferred stock 41.7p vs 34.9
    Div 11.5p making 19.0 vs 16.0
    Turnover 1.95 billion stg vs 1.63 billion
    Pretax profit 174.1 mln vs 125.6 mln
    Tax 49.4 mln vs 34.9 mln
    NOTE - Company's full name is Peninsular and Oriental Steam
Navigation Co Plc &lt;PORL.L>
    Net operating costs 1.77 billion stg vs 1.51 billion
    Share of profits of associates 21.1 mln vs 37.9 mln
    Operating profit 206.3 mln vs 154.2 mln
    Investment income 1.7 mln vs 3.6 mln
    Net interest payable 29.5 mln vs 29.2 mln
    Employee profit sharing 4.4 mln vs 3.0 mln
    Minority interests 2.5 mln debit vs 2.4 mln debit
    Extraordinary items 29.8 mln credit vs 0.1 mln credit
    Group operating profit includes -
    Service industries 40.7 mln vs 34.4 mln
    Passenger shipping 19.5 mln vs 13.1 mln
    Housebuilding, construction/development 50.1 mln vs 30.0
mln
    Container and bulk shipping 43.8 mln vs 34.4 mln
    P and O Australia 6.6 mln vs 9.4 mln
    Banking nil vs 7.7 mln
    Investment property income 45.6 mln vs 25.2 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14133" NEWID="8612">
<DATE>24-MAR-1987 03:30:00.30</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0154&#31;reute
f f BC-Woolworth-Holdings-pr   03-24 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Woolworth Holdings pretax profit 115.3 mln stg vs 81.3 mln, year to end-January
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14134" NEWID="8613">
<DATE>24-MAR-1987 03:30:37.51</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;f0155&#31;reute
u f BC-CHINA-SAYS-POSSIBLE-G   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA SAYS POSSIBLE GOOD HARVEST DESPITE DROUGHT</TITLE>
<DATELINE>    PEKING, March 24 - </DATELINE><BODY>China's summer grain harvest may be good
despite a serious drought because the State Council (cabinet)
has spent one billion yuan on irrigation and other anti-drought
work, a Hong Kong newspaper said.
    Wen Hui Bao said the drought, which has affected Shanxi,
Hebei, Henan and Shandong the most, has eased with March rains
in south China and March snowfall in the north and as some new
irrigation projects have come into use.
    "If the drought does not worsen, there is hope for a bumper
harvest," it quoted experts of the Ministry of Electric Power as
saying. They gave no figures.
    The 1986 summer grain harvest was a record 93 mln tonnes,
up from 92 mln in 1985, out of a total 1986 grain harvest of
391 mln. The 1987 target is 405 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14135" NEWID="8614">
<DATE>24-MAR-1987 03:34:07.07</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;f0163&#31;reute
b f BC-WOOLWORTH-HOLDINGS-PL   03-24 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>WOOLWORTH HOLDINGS PLC &lt;WLUK.L> YR TO END-JANUARY</TITLE>
<DATELINE>    LONDON, March 24 -
    </DATELINE><BODY>Shr 47.1p vs 37.7
    Shr fully diluted 42.2p vs 33.6
    Div 11p vs 7 making 16 vs 10
    Turnover 1.83 billion stg vs 1.76 billion
    Pretax profit 115.3 mln vs 81.3 mln
    Tax 30.5 mln vs 16.2 mln
    Retail profit -
    B and Q 45.5 mln vs 33.1 mln
    Comet 17.4 mln vs 11.9 mln
    Woolworth 38.7 mln vs 17.6 mln
    Other 4.6 mln loss vs 600,000 loss
    Property income 49.4 mln vs 48.0 mln
    Net interest payable 31.1 mln vs 28.7 mln
    Extraordinary debit 16.0 mln vs 29.1 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14136" NEWID="8615">
<DATE>24-MAR-1987 03:46:37.33</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;f0182&#31;reute
u f BC-TMOC-TELLS-SHAREHOLDE   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>TMOC TELLS SHAREHOLDERS NOT TO ACCEPT SANTOS BID</TITLE>
<DATELINE>    BRISBANE, March 24 - </DATELINE><BODY>&lt;TMOC Resources Ltd> told shareholders
not to accept Santos Ltd's &lt;STOS.S> 4.00 dlr a share takeover
bid pending advice from Macquarie Hill Samuel Corporate
Services, its corporate advisor.
    It said in a statement the Santos bid was below the
underlying value of the shares as assessed by Macquarie Hill
Samuel at between 4.08 dlrs and 4.72.
    TMOC, formerly the Moonie Oil Co Ltd, said the valuation
was made in response to an earlier and still current bid of
2.55 dlrs a share by &lt;Elders Resources Ltd>. Elders Resources
holds 19.9 pct of TMOC's 62 mln shares.
    TMOC said it did not know Elders Resources' response to the
bid or that of its other major shareholder the &lt;Australian Gas
Light Co>. The latter has a 10.5 pct stake in TMOC.
    &lt;Avalon Corp> of the U.S. Has a 17 pct stake in TMOC
through an option agreement.
    Santos, which is 15 pct owned by Elders Resources,
yesterday said its bid valued TMOC at 248.5 mln dlrs.
    TMOC said today this was not a premium over the share price
before the bid and that TMOC had traded at up to 4.06 dlrs a
share in the last two weeks.
    TMOC said in the statement that the bid was unsolicited and
that Santos had only a 3.07 pct stake despite paying up to four
dlrs a share on-market.
    TMOC has oil and gas interests and pipelines which
complement the operations of Santos, the major Cooper Basin oil
and gas producer.
    TMOC shares today closed five cents up at 4.15 dlrs on
turnover of 182,000 shares while Santos, due to release its
profit result today, rose eight cents to 4.50 dlrs on volume of
245,000 shares.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14137" NEWID="8616">
<DATE>24-MAR-1987 04:07:14.92</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0203&#31;reute
f f BC-SANTOS-LTD-&lt;STOS.S>-Y   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SANTOS LTD &lt;STOS.S> YEAR END DEC 31 NET PROFIT 88.67 DLRS VS 144.04 MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14138" NEWID="8617">
<DATE>24-MAR-1987 04:11:06.34</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0209&#31;reute
f f BC-WILLIAMS-HOLDINGS-SAY   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WILLIAMS HOLDINGS SAYS IT BIDDING 542.2 MLN STG FOR NORCROS ORDINARY SHARES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14139" NEWID="8618">
<DATE>24-MAR-1987 04:23:02.67</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;f0222&#31;reute
b f BC-WILLIAMS-HOLDINGS-BID   03-24 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>WILLIAMS HOLDINGS BIDS 542.2 MLN STG FOR NORCROS</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Industrial holding company Williams
Holdings Plc said it was bidding 542.2 mln stg for the ordinary
shares of building products and packaging group Norcros Plc.
    The offer would be made on the basis of 29 new Williams
shares for every 50 in Norcros, or 432.7p a share
    Norcros shares firmed to 410p at 0914 GMT from a close last
night of 397p.
    A statement by Williams said it was confident of the merits
of the proposed merger and it had therefore taken care to
propose from the outset the right terms, including a full cash
alternative.
    The offer will include a partial convertible alternative
under which shareholders would receive up to a total of 205.69
mln new second convertible shares in Williams instead of their
ordinary share allocations.
    The offer for Norcros preferential shares offers one
Williams preferential share for each one of Norcros, for a
value of 130p each and a total of 2.9 mln stg.
    Last week Williams reported that pretax profits for 1986
rose to 22.9 mln stg from 6.3 mln.
    Speculation about a bid for Norcros had been circulating in
the market for several months, dealers said. Initially it
centred on &lt;Bunzl Plc>, which once held a 2.6 pct stake, then
switched to Williams when it began accumulating shares.
    Earlier this year, Williams suggested holding talks with
Norcros on a possible merger but was rebuffed by Norcros which
replied that any benefits that could be achieved could also
result from normal trading.
    In the six months to end-September, Norcros reported a rise
in pretax profits to 20.14 mln stg from 18.55 mln on turnover
that lifted to 311.82 mln from 303.91 mln
    Williams Holdings began expanding from 1982 when it had a
market capitalisation of around one mln stg. A series of
acquisitions in the next four years has pushed its
capitalisation up to around 380 mln.
    The convertible offer would be on the basis of four
Williams convertibles for every Norcros share, worth 428p a
share. The cash alternative would offer the equivalent of
400.2p a share.
    The announcement of the bid pushed Williams share price
down to 733p from last night's close at 750p.
    Williams said it held a total 850,000 shares in Norcros, or
0.7 pct, while an associate held a further 1.99 mln or 1.6 pct.
    There was no immediate response from Norcros.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14140" NEWID="8619">
<DATE>24-MAR-1987 04:25:01.90</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;f0226&#31;reute
b f BC-SANTOS-LTD-&lt;STOS.S>-Y   03-24 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>SANTOS LTD &lt;STOS.S> YEAR ENDING DEC 31</TITLE>
<DATELINE>    ADELAIDE, March 24 -
    </DATELINE><BODY>Shr 37.0 cents vs 60.0
    Final div deferred vs 11 cents (1985 full year 20.0)
    Pre-tax 171.05 mln vs 239.97 mln
    Net 88.67 mln vs 144.04 mln
    Turnover 400.42 mln vs 506.51 mln
    Other income 85.44 mln vs 71.04 mln
    Shrs 238.99 vs same.
    NOTE - Final div deferred for tax advantage until after
July 1 but not expected to be less than nine cents (interim
seven). Net after tax 82.38 mln vs 95.92 mln, depreciation and
amortisation 93.29 mln vs 76.19 mln, interest 90.94 mln vs
116.49 mln, minorities nil vs loss 10,000 but before
extraordinary loss 6.49 mln vs loss 53.40 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14141" NEWID="8620">
<DATE>24-MAR-1987 04:31:56.24</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0239&#31;reute
f f BC-FRENCH-BOND-COMMITTEE   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH BOND COMMITTEE APPROVES DOMESTIC ISSUES TOTALLING 4.45 BILLION FRANCS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14142" NEWID="8621">
<DATE>24-MAR-1987 04:34:06.81</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0240&#31;reute
u f BC-DOUBTS-ABOUT-ACCORD-S   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>DOUBTS ABOUT ACCORD SEEN WEAKENING DOLLAR FURTHER</TITLE>
<AUTHOR>    By Kunio Inoue, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>The dollar is expected to decline further
in coming days as scepticism mounts about the effectiveness of
last month's Paris accord to stabilise currency exchange rates,
senior foreign exchange dealers said.
    Following its fall today to a record 148.40 yen, dealers
said they expect the dollar to establish a new trading range of
147 to 150 yen before the market again tries to push it down.
Behind the latest dollar fall lies the belief that last month's
accord was no longer enough to stop operators pushing the
dollar down, the dealers said.
    "The recent remark by U.S. Treasury Secretary James Baker
that the Paris accord did not set any target ranges for major
currencies has cast a shadow on the agreement," said Koji
Kidokoro, general manager of Mitsui Bank Ltd's treasury
division.
    He said the market interpreted this as indicating the U.S.
Would favour a weaker dollar and it had little intention of
intervening to support the currency.
    "This eliminated the widespread market caution against
possible joint central bank intervention," Kidokoro said.
    Dealers said the dollar had gathered renewed downward
momentum and that Bank of Japan intervention alone could hardly
contain a further slide in the currency.
    They said the central bank bought between one to 1.5
billion dlrs today, including direct purchases through brokers,
and yesterday it might have bought a small amount of dollars
through the U.S. Central bank in New York.
    Most dealers said they doubted the U.S. Federal Reserve
would intervene on its own account to support the dollar, but
some said this might occur if the dollar fell much below 148
yen.
    "If the dollar drops to that low level, it could reduce the
flow of foreign capital into U.S. Securities, which the
Americans don't want," said Haruya Uehara, chief money market
manager of Mitsubishi Trust and Banking Corp.
    He said the dollar may return to around 152 yen next month
when corporations reduce their dollar sales after they close
their books for the 1986/87 business year ending on March 31.
    But dealers said the longer-term outlook for the dollar
remained bearish. This was due to the lacklustre performance of
the U.S. Economy, the continuing U.S. Trade deficit and
Japanese delays in announcing an economic stimulation package.
    "The Americans are getting frustrated at Japan's inertia in
stimulating its economy," said Hirozumi Tanaka, assistant
general manager of Dai-Ichi Kangyo Bank Ltd's international
treasury division.
    In the Paris currency accord Japan promised a package of
economic measures, after the fiscal 1987 budget was passed, to
boost domestic demand, increase imports, and thus reduce its
trade surplus. The package was expected in April, but debate on
the budget has been delayed by an opposition boycott of
parliamentary business over the proposed introduction of a
sales tax.
    In the circumstances the government had only a slim chance
of producing a meaningful economic package in the near future,
Dai-Ichi Kangyo's Tanaka said.
    Dealers said if steps are not taken to stimulate the
Japanese economy protectionist sentiment in the U.S. Congress
would grow and put more downward pressure on the dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14143" NEWID="8622">
<DATE>24-MAR-1987 04:38:39.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0257&#31;reute
b f BC-AMERICAN-CAN-ISSUING   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CAN ISSUING 150 MLN DLR CONVERTIBLE BOND</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>American Can Co &lt;AC.N> is issuing a 150
mln dlr convertible eurobond due April 22, 2002 carrying an
indicated coupon of 5-1/2 to 5-7/8 pct priced at par, lead
manager Morgan Stanley International said.
    Terms will be set this week with a conversion premium of 25
to 28 pct. The bond is available in denominations of 1,000 and
10,000 dlrs and be listed in Luxembourg.
    There is no call for three years, subsequently at par plus
the coupon, declining by equal amounts per annum until 1997.
    Fees comprise 1-1/2 pct selling concession and one pct
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14144" NEWID="8623">
<DATE>24-MAR-1987 04:40:20.02</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0260&#31;reute
u f BC-AUSTRALIAN-OIL-INDUST   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN OIL INDUSTRY TO CONTINUE TAX CAMPAIGN</TITLE>
<DATELINE>    SURFERS PARADISE, Australia, March 24 - </DATELINE><BODY>The council of the
Australian Petroleum Exploration Association (APEA) said it
will press on with its campaign for major improvements to
Australia's petroleum taxation structure.
    The council said in a statement the industry was bitterly
disappointed by the Australian government's position on
taxation, as presented in a speech by Resources and Energy
Minister Gareth Evans to the APEA conference.
    As earlier reported, Evans said he was inclined to target
any tax changes rather than take a broad-based approach to
secondary taxation of petroleum.
    APEA had expected the government to make positive responses
to detailed industry submissions seeking the removal of
existing secondary tax disincentives to exploration and
development, the council said.
    It said it plans to reply in detail to issues raised by
Evans, but its immediate concern was the decision to proceed
with the current resource rental tax (RRT) legislation.
    Evans told the conference the government did not plan to
accept industry pleas for changes in the legislation to allow
deductibility of unsuccessful exploration expenditure.
    "The government's unwillingness to allow the deduction of
unsuccessful exploration expenditure within the whole offshore
area in which RRT applies negates any claim that the tax is
profit based," the APEA council said.
    The government missed a major opportunity to persuade oil
exploration companies that it had realistic answers to the
industry's concerns, despite its recognition of the industry's
problems, the council said.
    The industry has called for the end of all discriminatory
secondary taxation of petroleum, citing them as major
disincentives at a time of low oil prices.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14145" NEWID="8624">
<DATE>24-MAR-1987 04:45:15.83</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0268&#31;reute
u f BC-GERMAN-FEBRUARY-IMPOR   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN FEBRUARY IMPORT PRICES FALL</TITLE>
<DATELINE>    WIESBADEN, March 24 - </DATELINE><BODY>Import prices in West Germany fell
0.7 pct in February from January to stand 15.6 pct below their
level in February 1986, the Federal Statistics Office said.
    In January the import price index, base 1980, was unchanged
compared with December but 17.8 pct lower against January 1986.
    February export prices, same base as import prices, were
unchanged compared with January and 2.5 pct lower than in
February 1986.
    In January export prices fell 0.3 pct against December to
stand 3.0 pct lower than in January 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14146" NEWID="8625">
<DATE>24-MAR-1987 04:49:14.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0274&#31;reute
b f BC-FRENCH-BONDS-FOR-4.45   03-24 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH BONDS FOR 4.45 BILLION FRANCS APPROVED</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>French domestic bond issues totalling
4.45 billion francs have been approved by the bond issuing
committee for publication in the Official Bulletin of March 30,
the committee announced.
    The largest of the issues will be a three-billion franc
bond for the Caisse d'Aide a l'Equipement des Collectivites
Locales (CAECL), comprising a two-billion franc fixed-rate
tranche and a one billion franc variable-rate tranche.
    Financement Local et Regional (FLORAL), a finance house
managed by CAECL, will issue an 800 mln franc bond and Caisse
Nationale de l'Energie will issue a 650 mln franc bond, of
which one of the lead-managers will be Banque Nationale de
Paris.
    Details will be released later, the committee said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14147" NEWID="8626">
<DATE>24-MAR-1987 04:49:31.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0275&#31;reute
u f BC-CHINA'S-FIFTH-SECURIT   03-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA'S FIFTH SECURITIES MARKET TO OPEN</TITLE>
<DATELINE>    PEKING, March 24 - </DATELINE><BODY>China's fifth securities market will
open on April 1 in the industrial port city of Tianjin, the
People's Daily overseas edition said.
    It said the market will in its first phase trade four
bonds, two issued by banks, one by a well-known city bicycle
factory and one issued by the city government to finance
construction of a road.
    Buyers and sellers can either agree on a price between them
and register the deal with the Industrial and Commercial Bank
that will run the new market or entrust the bank to make the
deal, it said.
    The paper said that only financial organisations and not
other firms or individuals could handle such trading.
    China's first securities market opened last year in the
northeast city of Shenyang and, since then, others have opened
in Shanghai, Peking and Harbin.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14148" NEWID="8627">
<DATE>24-MAR-1987 04:50:32.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0279&#31;reute
u f BC-CHINA-EXPECTED-TO-SHO   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA EXPECTED TO SHOW BIG 1986 BUDGET DEFICIT</TITLE>
<AUTHOR>    By Mark O'Neill, Reuters</AUTHOR>
<DATELINE>    PEKING, March 24 - </DATELINE><BODY>China's Finance Minister Wang Bingqian
will report a 1986 budget deficit of up to nine billion yuan
and prescribe austerity measures for 1987 in a budget speech on
Thursday, foreign bankers and diplomats told Reuters.
    Chinese officials have said the 1986 deficit is "several
billion," after a surplus of 2.82 billion in 1985 which followed
six years of deficits, including a record 17 billion yuan
shortfall in 1979. They have not given an exact figure.
    The officials blamed the deficit on excessive investment in
fixed assets and consumer demand, a drop in efficiency in state
firms, a trade deficit and lower income from import duties.
    "China needs a nationwide campaign to increase production
while cutting expenditure," the official Peking Review said in
an editorial yesterday.
    "China should institute means for the effective control of
the macro-economy and the invigoration of enterprises, larger
ones in particular, by emphasising quality, efficiency and
reduced consumption," it said.
    Only by such measures, the magazine said, "can an overall
supply-demand balance in society be secured and the economy
develop steadily over a long period."
    A Western diplomat said major factors for the deficit,
which he estimated at up to nine billion yuan, were a drop in
efficiency and wage rises in state firms, whose profits and
taxes account for a substantial part of national revenue.
    The State Statistical Bureau (SSB) last month said profits
and taxes of state firms in 1986 fell 0.2 pct from 1985 to
119.3 billion yuan, while production costs were over budget,
losses rose and product quality was unstable.
    The SSB said profits in most state firms fell because of
bad management and rapid changes in external conditions.
    "For some materials, state firms have to compete on the free
market, where prices are up to double those for materials they
buy under fixed quota from the state," the diplomat said.
    "The firms are not subject to proper market discipline,
because they cannot go bankrupt, do not have to repay bank
loans and have to employ workers whether or not they need them.
Under these conditions, they cannot properly adjust to the
economic levers the state is introducing," he said.
    Another diplomat said Wang's major problem is excess demand
in the economy, caused by wage increases well ahead of
industrial growth, and excess growth in capital construction.
    "He must dampen this growth through raising taxes or cutting
government expenditure," he said. "China's economy is inherently
unstable, either in a high or a trough."
    He said Wang will reaffirm themes repeated by leaders since
the start of the year -- thrift, improved efficiency, cutting
investment outside the state plan and reducing consumption to
bring demand and supply into balance.
    "There will be no surprises," the diplomat said.
    The first diplomat said one sign of the thrifty times was
the lack of a banquet during a visit he made to a major Chinese
industrial city.
    "Normally, a foreign guest's visit is a chance for the boys
to feast on Mao Tai (a strong liquor), turtle and sea slugs,
with one banquet given by them and one given in return by me.
But there was none on this visit," he said.
    He added economic reforms will slow this year, in
particular price changes and the issuing of shares, which raise
sensitive issues about ownership and ideology. Bond issues
raise no such dilemmas and will continue, he added.
    A North American banker, who estimated the deficit at about
eight billion yuan, said economic policy has been affected by a
national drive against "bourgeois liberalism," a phrase meaning
Western political ideas.
    "In China the political system dictates economic policy," he
said. "The large deficit gives the conservatives a stick to beat
the reformers and demand more economic austerity.
    "One of China's top economic policy makers told me this week
1987 will be a year of consolidation for his firm, with less
overseas investment, lower imports and new funding to be
sourced internally."
    The banker said he is more comfortable about China's
stability now than two months ago, when the drive was launched
after the resignation of Communist Party chief Hu Yaobang.
    "There is no leftist alternative to the reforms," he said.
"There is no going back to the policy of strict central control.
But the reforms will take years. What you have now is a
confused mix of control and market economies."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14149" NEWID="8628">
<DATE>24-MAR-1987 04:56:34.74</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0292&#31;reute
u f BC-NIPPON-LIFE,-SHEARSON   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON LIFE, SHEARSON TIE-UP SEEN SETTING TREND</TITLE>
<AUTHOR>    By Steven Brull, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Nippon Life Insurance Co's 538 mln dlr
purchase of a 13 pct stake in Shearson Lehman Brothers Inc
brokerage unit is a shrewd move that other Japanese insurers
are likely to follow, securities analysts said.
    The investment in one of Wall Street's top brokerage houses
is likely to pay off in dollars and international market
position, they said. "It's part of a trend towards growing
capital participation by Japanese insurance firms in foreign
financial institutions," said Simon Smithson, an analyst with
Kleinwort Benson International Inc in Tokyo.
    The investment in Shearson Lehman, a growing firm described
by some analysts as the top U.S. Retail brokerage, will give
Nippon Life a ringside seat and possibly lower commissions on
Wall Street, where it invests an increasing percentage of its
assets of 90.2 billion dlrs, they said.
    Nippon Life staff will also acquire expertise in business
sectors which have not yet opened up in Japan, they added.
    The agreement between the two companies calls for a 50-50
joint venture in London focussing on investment advisory asset
management, market research, and consulting on financing.
    Nippon Life is Japan's largest insurance company and the
world's biggest institutional investor, analysts said.
    The Japanese finance ministry is expected to approve the
deal in April, making Nippon Life the first Japanese life
insurance firm to take a stake in a U.S. Financial firm.
    The limit on foreign assets as a proportion of Japanese
insurers' assets was increased to 25 pct from 10 pct last year.
Since then, they have stepped up purchases of foreign stocks
and sought to deepen their understandng of foreign markets and
instruments.
    Last year, a Sumitomo Life Insurance Co official was
appointed to E.F. Hutton Group Inc unit E.F. Hutton and Co's
board and Sumitomo Bank Ltd spent 500 mln dlrs to become a
limited partner in Goldman, Sachs and Co.
    Smithson said Japanese banks started buying smaller and
problem-plagued banks in 1984. "But now Japanese are going for
blue-chip organisations," he said.
    "It's a reflection of what has happened in manufacturing
industries," said Brian Waterhouse at James Capel and Co. "With a
historically high yen, and historically low interest rates,
there's an increasing disincentive to invest in Japan."
    Competition in fund management has grown along with greater
Japanese savings. The typical salaried employee has 7.33 mln
yen in savings, reflecting an annual average savings rate of 17
to 18 pct, he said.
    To stay competitive, fund managers must invest overseas and
gain experience with financial instruments which are likely to
spread to Japan with further deregulation. "The high regulatory
environment has delayed (life insurance firms')
diversification. Now there's a growing number of new products
in an environment of increasing competition for performance on
fund management," Smithson said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14150" NEWID="8629">
<DATE>24-MAR-1987 05:04:19.62</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;f0308&#31;reute
b f BC-U.K.-MONEY-MARKET-DEF   03-24 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET DEFICIT FORECAST AT 300 MLN STG</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The Bank of England said it forecast a
shortage of around 300 mln stg in the money market today.
    Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
some 338 mln stg while bankers' balances below target will take
out around 25 mln stg.
    Partly offsetting these outflows, a fall in note
circulation and exchequer transactions will add some 45 mln stg
and 25 mln stg to the system respectively.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14151" NEWID="8630">
<DATE>24-MAR-1987 05:05:28.71</DATE>
<TOPICS><D>earn</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0312&#31;reute
u f BC-SANTOS-SAYS-PROFITS-H   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SANTOS SAYS PROFITS HIT BY OIL PRICE FALL</TITLE>
<DATELINE>    ADELAIDE, March 24 - </DATELINE><BODY>Leading Australian onshore oil and gas
producer, Santos Ltd &lt;STOS.S>, said its 1986 results were hit
by sharp reductions in prices for crude oil, condensate and
liquefied petroleum gas (LPG).
    The Cooper Basin producer earlier reported a fall in net
profit to 88.67 mln dlrs from 144.04 mln in 1985.
    Santos chairman Sir Brian Massy-Greene said in a statement
that increased production, particularly of oil and LPG, along
with reduced operating costs and reduced or deferred oil
exploration and development outlays, were helping Santos deal
with an adverse business climate.
    Santos said it remained financially strong with an
injection of 84 mln dlrs from the second instalment of a 1985
rights issue, and had cash reserves of 381.3 mln dlrs at the
end of 1986 against 401.9 mln a year earlier.
    It said it had also made significant progress in repaying
debts and at year end the ratio of debt to shareholders' funds
had fallen to 1.01 from 1.54.
    Santos yesterday announced a 4.00 dlr a share takeover bid
for the 96.93 pct it did not already hold in oil and gas
company &lt;TMOC Resources Ltd> -- valuing the target at 248.5 mln
dlrs.
    Santos said 75 pct of its loans were U.S. Dollar
denominated and significant currency purchases were made during
the year to maintain that natural hedge. At year end it held
145 mln U.S. Dlrs, enough to meet all 1987 repayments.
    Santos said it had a successful gas exploration program,
finding 172 billion cubic feet in South Australia, but oil
exploration was less successful with 1.62 mln barrels added to
reserves -- less than depletion during the year.
    Cooper Basin producers are committed to a two-year scheme
to double gas exploration while Santos said its 1987 budget for
oil exploration had been boosted 20 pct.
    Santos said the outlook for 1987 depended on prices and
production volumes but with extra oil exploration and
encouraging gas finds there were grounds for optimism.
    But it called on the goverment to continue fostering
domestic producers through the Import Parity Price scheme.
    "It makes no sense to abandon this policy now when
exploration is at its lowest level for many years and when
Australia's oil self-sufficency is expected to decline rapidly,"
Massy-Green said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14152" NEWID="8631">
<DATE>24-MAR-1987 05:07:46.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0318&#31;reute
u f BC-SONY-SETTING-UP-SECON   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SONY SETTING UP SECOND AUDIO PLANT IN MALAYSIA</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Sony Corp &lt;SNE.T> said it will set up a
second wholly-owned subsidiary in Malaysia to make headphones,
car stereos, radios and radiocassettes from early 1988.
    &lt;Sony Electronics (M) Sdn Bhd> in Penang will have initial
capital of about 2.5 billion yen, and provide 1,000 jobs.
    Sales worth 10 billion yen are targetted for the year from
April 1, 1988, mainly to the U.S. And Europe.
    Sony's wholly-owned &lt;Toyo Audio (M) Sdn Bhd> in Penang has
made audio products for export to the U.S. And Europe since
1984. Toyo sales were four billion yen in the year to October
31, 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14153" NEWID="8632">
<DATE>24-MAR-1987 05:09:45.48</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;f0325&#31;reute
u f BC-P-AND-O-PLANS-WARRANT   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>P AND O PLANS WARRANT ISSUE TO MARK ANNIVERSARY</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Peninsular and Oriental Steam Navigation
Co Plc &lt;PORL.L>, P and O, said it plans a free warrant issue on
the basis of 10 warrants for every 150 stg nominal of deferred
stock already held, to mark the 150th anniversary of the
company.
    Each warrant will give the right to subscribe for one stg
nominal of deferred stock at 750p during a specified period in
the five years starting in 1988.
    P and O deferred shares were last quoted at 629p, down 1p
since yesterday, after the company reported 1986 pre-tax profit
of 174.1 mln stg against 125.6 mln for 1985.
    P and O said 1986 produced an acceptable level of growth,
though ground has to be made up in one or two areas.
    The company has a strong balance sheet and considerable
flexibility for 1987, it added. P and O will concentrate on
expanding in its established market sectors.
    Commenting on the recent ferry disaster in the North Sea
off Zeebrugge, the statement said the precise cause is unknown.
The company has instituted an immediate investigation and both
the British and Belgian governments are conducting inquiries.
    The stricken ferry, the Herald of Free Enterprise, belongs
to Townsend Thoresen, which became part of P and O in January.
    P and O is considering listing its shares in Japan and
other important overseas financial centres, the statement
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14154" NEWID="8633">
<DATE>24-MAR-1987 05:12:22.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0330&#31;reute
u f BC-INDONESIAN-BANKS-PROF   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIAN BANKS PROFITS RISE AFTER DEVALUATION</TITLE>
<AUTHOR>    By Jeremy Clift, Reuters</AUTHOR>
<DATELINE>    JAKARTA, March 24 - </DATELINE><BODY>Indonesia's September devaluation
helped bank profits to rise by 28.6 pct in calendar 1986, but
despite higher world oil prices, banks are likely to see
profits stabilise or fall in 1987, the head of Indonesia's
Association of Private Banks told Reuters.
    Association chairman Nyoman Muna said in an interview that
most banks made windfall profits from the 31 pct devaluation
against the U.S. Dollar.
    He saw the outlook for 1987 as more favourable for
Indonesia, with oil prices now around 18 dlrs a barrel.
    But he forecast that overall bank profits would probably
fall slightly from 1986 pre-tax levels, which he said were
artificially high due to the devaluation.
    The Association's latest report on the performance of
Indonesia's 112 state, foreign and private banks shows that
overall profits rose in 1986 to 495 billion rupiah from 385
billion in 1985.
    This was after a fall in first half profits to 202.9
billion rupiah, from 238.1 billion in January-June 1985.
    The report shows foreign bank profits slumped in 1986,
mostly due to a loss by Bank of America NT and SA.
    Bank of America, a branch of BankAmerica Corp &lt;BAC.N>, was
affected by a string of bad debts and other problems during the
year. It showed a loss of 32.03 billion rupiah, against a loss
of 3.48 billion in 1985, and 1984 profit of 7.25 billion.
    A bank spokesman told Reuters he believed Bank of America
in Jakarta was now back on track. "The worst is behind us."
    Its assets have fallen to 194.07 billion rupiah in 1986
from 293 billion in 1985 and 301.5 billion at the end of 1984.
    Indonesian profits of the 11 foreign banks allowed to
operate in Jakarta fell to 6.58 billion rupiah from 39.2
billion in 1985, the report said.
    These profits do not include offshore loans, which are
handled through other centres but which account for most of the
foreign banks' business.
    Profits of Indonesia's seven key state banks, which account
for more than 80 pct of domestic banking assets, rose sharply
to 319.09 billion rupiah in 1986 from 212.0 billion.
    Total assets of the seven rose to 40,232 billion from
31,288 billion rupiah, the report said.
    Profits of BNI 1946, the largest of the seven, rose to
63.28 billion rupiah from 35.9 billion in 1985.
    Its total assets expanded to 12,115 billion from 8,552
billion at the end of December 1985.
    Muna said in the fiscal year starting April 1, budgeted
government spending will fall in real terms. Many ministries
have had budgets cut severely due to declining oil revenues.
    "This will naturally have its impact on the banking sector,"
Muna stated. "But I think that with oil around 18 dlrs, the
general performance of the banking sector will not be too bad."
    Western bankers said the capital market remained sluggish,
but Indonesia was using more foreign loans.
    Bank of Tokyo &lt;BTOK.T>, the only Japanese bank allowed to
operate here, almost doubled its assets in 1986 to 607 billion
rupiah from 335 billion in 1985, the report showed. But its
profit was barely higher at 8.5 billion from 8.4 billion.
    Citicorp's &lt;CCI.N> local unit Citibank, previously listed
as the largest foreign bank, slipped to second place behind
Bank of Tokyo. It recorded a loss of 480 mln rupiah against a
1985 profit of 11.9 billion.
    A Citibank spokesman told Reuters the loss was a
book-keeping issue and did not represent the true picture, but
declined to give further figures.
    One western banker said that "Citibank is still definitely
the largest foreign operation in Jakarta, whether or not its
profit figures show it."
    Bank of Tokyo and Citibank ranked 10th and 11th in terms of
assets of all banks in Indonesia.
    The government allows only 11 foreign banks to conduct full
banking operations, and restricts their business to Jakarta.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14155" NEWID="8634">
<DATE>24-MAR-1987 05:14:07.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0336&#31;reute
b f BC-KYUSHU-ELECTRIC-POWER   03-24 0085</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
KYUSHU ELECTRIC POWER ISSUES YEN BONDS LONDON, March 24 -
Kyushu Electric Power Co Inc is issuing a 20 billion yen bond
due April 22, 1994 carrying a coupon of 4-3/4 pct and priced at
101-5/8 pct, said Nomura Securities Co Ltd as lead manager.
    The securities are available in denominations of one mln
yen each and will be listed on the Luxembourg stock exchange.
Payment date is April 22, 1987.
    There is a 1-1/4 pct selling concession and combined
management and underwriting fees total 5/8 pct.
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14156" NEWID="8635">
<DATE>24-MAR-1987 05:19:03.91</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0346&#31;reute
u f BC-CANADA-OUTLINES-GATT   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA OUTLINES GATT AGRICULTURAL REFORM PLAN</TITLE>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>Canadian Trade Minister Pat
Carney said that agricultural policies should not hurt world
international trade and should therefore become more price
responsive over time.
    She told delegates at the informal meeting of trade
ministers that this was one of five principles Canada wanted
adopted in reforming agriculture in the General Agreement on
Tariffs and Trade (GATT). Secondly, support for agriculture
should avoid production incentives, and thirdly, countries
should freeze and seek to reduce government aid measures that
distorted world prices, Carney said.
    Carney said the fourth principle was that countries should
not introduce new import barriers not mandated by existing
legislation and the fifth was that these basic principles must
be implemented collectively.
    Carney later told Reuters the Canadian guidelines are
basically compatible with the seven point Australian proposals
announced in Davos, Switzerland, in January.
    European trade sources said the conference welcomed the
Canadian initiative but some delegates, and not only the
European Community, voiced reservations about some of the
principles.
    Carney said there was a lot of political will among the
ministers here to complete the Uruguay Round of GATT in under
four years and that there is also a realisation that it has to
be done in a balanced way.
    "The consensus view was to proceed as fast as we can on a
broad front and see what areas emerge where we can get early
conclusion," she said.
    However, the meeting did not identify what those areas are,
Carney said.  She said Canada/U.S. Bilateral trade
negotiations, which must be concluded at least in draft form by
October, are progressing well.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14157" NEWID="8636">
<DATE>24-MAR-1987 05:23:55.42</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0353&#31;reute
u f BC-TAIWAN-ISSUES-MORE-CE   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ISSUES MORE CERTIFICATES OF DEPOSITS</TITLE>
<DATELINE>    TAIPEI, March 24 - </DATELINE><BODY>The Central Bank said it issued 4.96
billion dlrs worth of certificates of deposit (CDs) today,
after issuing 4.03 billion of similar CDs yesterday, bringing
the total value of CD issues in 1987 to 139.46 billion.
    The new CDs, with maturities of six months, one year and
two years, carry interest rates ranging from 4.07 pct to 5.12
pct, a bank official told Reuters.
    The issues are designed to help curb the growth of m-1b
money supply, which is expanding as a result of large foreign
exchange reserves.
    The reserves hit a record 53 billion U.S. Dlrs yesterday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14158" NEWID="8637">
<DATE>24-MAR-1987 05:25:16.15</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>philippines</D></PLACES>
<PEOPLE><D>concepcion</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0357&#31;reute
u f BC-PHILIPPINE-TRADE-SECR   03-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE TRADE SECRETARY PLEASED WITH GATT TALKS</TITLE>
<AUTHOR>    By Christopher Pritchett, Reuters</AUTHOR>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>Philippine Secretary of
Trade and Industry Jose Concepcion, who two days ago expressed
doubts about agreements produced at international conferences,
said he was pleased with the latest gathering here.
    Concepcion told Reuters in an interview that the informal
General Agreement on Tariffs and Trade (GATT) meeting gave
ministers from more than 20 nations the chance to examine
issues with which GATT did not have the political will to deal.
    "Also, the role of the developing countries has been
emphasised in this particular meeting. Somehow it has been the
perception of developing countries that GATT is a club of rich
countries," he added in an interview with Reuters.
    "In fact many of the issues that have been tabled for
discussion (in the Uruguay round of trade negotiations) will be
of more benefit to the developed countries," he said.
    Concepcion said at the start of the Taupo meeting that the
Uruguay round was meant to be a "shining act of faith" in the
world trade system.
    Concepcion said the Philippines would address the issues of
trade in tropical fruit and the improvement of GATT machinery
to make it more responsive.
    He said tropical fruit came from developing countries but
faced non-tariff barriers, quantitative restrictions or very
high duties in other nations. Concepcion named Japan and South
Korea as examples.
    He said he would go to Wellington for talks with New
Zealand, which had a surplus in trade with the Philippines, to
encourage it to switch imports from other countries. He noted
that New Zealand bought its bananas from Ecuador.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14159" NEWID="8638">
<DATE>24-MAR-1987 05:31:26.75</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0365&#31;reute
u f BC-DROUGHT-HITS-THAI-RUB   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>DROUGHT HITS THAI RUBBER AND FRUIT GROWERS</TITLE>
<DATELINE>    BANGKOK, March 24 - </DATELINE><BODY>A drought that began seven weeks ago is
hurting orchards and rubber plantations in Thailand and
officials said it could last until May.
    The government is trucking water into parched farms in
parts of northeastern, eastern and southern provinces, but not
enough to satisfy farmers, according to press reports.
    There has been no official estimate of damage.
    Officials of Thailand's rain-making institute said its
airplanes could help little because few clouds were forming for
them to seed with rain-making chemicals. Thailand has a rainy
season that normally starts in May and lasts to October.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14160" NEWID="8639">
<DATE>24-MAR-1987 05:35:06.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>barbados</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0373&#31;reute
u f BC-BARBADOS-SEEKING-25-M   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BARBADOS SEEKING 25 MLN STG REVOLVING CREDIT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Barbados is making its annual trip to
the international capital markets a bit earlier this year and
has mandated Barclays Bank Plc to arrange a 25 mln stg
revolving credit, Barclays said.
    The financing will be for seven years, with four years
grace, and will allow the borrower to make drawings in U.S.
Dollars. The credit will be transferable and carry interest at
1-1/8 pct over the London Interbank Offered Rate. There is a
commitment fee of 1/2 pct.
    Banks are being invited to join at four mln stg for 50
basis points and at 2.5 mln stg for 40 basis points.
    The terms represent an improvement over those obtained last
year, when Barbados tapped the market for a 25 mln dlr
transferable loan facility, which carried the same maturity but
had interest at 1-1/4 pct over Libor. The facility was
subsequently increased to 40 mln dlrs.
    However, the loan was not signed until November 5, and
bankers said that this year Barbados wanted to have the
financing in place early to give it greater flexibility in
drawing the funds over the course of the year.
    Last year Barbados boosted its capital market borrowings
with a small private yen placement in the Japanese market.
    At the signing of the 40 mln dlr facility, Winston Cox,
advisor to the Central Bank of Barbados, said he was looking to
make greater use of the international capital markets to reduce
the country's dependence on multi-national orgainsations.
    However, bankers believe this will be the country's only
major financing for this year, although another small private
placement in Japan could be arranged later in the year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14161" NEWID="8640">
<DATE>24-MAR-1987 05:47:21.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0390&#31;reute
u f BC-INDIA-LAUNCHES-FIRST   03-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA LAUNCHES FIRST INTERCONTINENTAL-RANGE ROCKET</TITLE>
<DATELINE>    NEW DELHI, March 24 - </DATELINE><BODY>India launched its first
intercontinental-range rocket, the Press Trust of India
reported.
    The rocket blasted off from Sriharikota near Madras and 406
seconds later placed a 145 kg satellite in a 400 km earth
orbit. The satellite will carry out scientific missions.
    India put its first satellite launch vehicle into space in
1980. But this and a second rocket launched in 1983 were
classed in the below-intermediate range.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14162" NEWID="8641">
<DATE>24-MAR-1987 05:50:23.14</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0392&#31;reute
b f BC-MIYAZAWA-SAYS-U.S.-LI   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS U.S. LIKELY TO INTERVENE</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa told
Parliament's Lower House Finance Committee that the U.S. Is
expected to intervene in the foreign exchange market to
stabilise exchange rates, political sources said.
    Asked if the U.S. Federal Reserve Board agreed in Paris
last month to intervene to stabilise exchange rates, Miyazawa
said yes, the sources said.
    Miyazawa was also quoted as saying that he is sceptical
about the effectiveness of currency reference ranges even if
major nations agree on such an idea as it is extremely
difficult to set such ranges.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14163" NEWID="8642">
<DATE>24-MAR-1987 05:50:32.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0393&#31;reute
b f BC-SKANDINAVISKA-ENSKILD   03-24 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>SKANDINAVISKA ENSKILDA ISSUES YEN BONDS</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Skandinaviska Enskilda Banken is issuing
a 10 billion yen bond due October 23, 1992 carrying a coupon of
4-1/2 pct and priced at 101-3/8, lead manager Daiwa Securities
International (Europe) Ltd said.
    The securities wil be listed on the London Stock Exchange
and will be available in denominations of one mln yen each.
Payment date is April 23, 1987.
    There is a 1-1/4 pct selling concession and a 5/8 pct
combined management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14164" NEWID="8643">
<DATE>24-MAR-1987 05:52:58.26</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0397&#31;reute
f f BC-British-Aerospace-198   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>British Aerospace 1986 pretax profit 182.2 mln stg vs 150.5 mln
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14165" NEWID="8644">
<DATE>24-MAR-1987 06:00:38.69</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;f0405&#31;reute
b f BC-BRITISH-AEROSPACE-PLC   03-24 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH AEROSPACE PLC &lt;BAEL.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 24 -
    </DATELINE><BODY>Shr 51.4p vs 56.4p
    Div 11.0p making 17.4p, a 10 pct increase on 1985
    Turnover 3.14 billion stg vs 2.65 billion
    Pretax profit 182.2 mln vs 150.5 mln
    Tax 53.8 mln vs 23.5 mln
    Note - comparisons restated.
    Trading profit 217.2 mln vs 211.1 mln
    Launching costs 47.6 mln vs 51.6 mln
    Share of profit of related companies 3.6 mln vs 3.4 mln
    Net interest receivable 9.0 mln vs 12.4 mln payable
    Extraordinary debit 44.1 mln vs nil
    Trading profit includes  -
    Civil aircraft 7.7 mln loss vs 2.5 mln loss
    Military aircraft and support services 146.0 mln vs 148.3
mln
    Guided weapon and electronic systems 139.7 mln vs 127.8 mln
    Space and communications 1.9 mln vs 2.0 mln loss
    Company funded research and development 62.7 mln loss vs
54.9 mln
    Reorganisation costs nil vs 5.6 mln loss
    Launch costs include -
    BAe 146 17.1 mln vs 27.3 mln
    Airbus 19.4 mln vs 6.9 mln
    BAe 125-800 0.3 mln vs 1.5 mln
    ATP 10.8 mln vs 15.9 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14166" NEWID="8645">
<DATE>24-MAR-1987 06:02:36.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0407&#31;reute
r f BC-CHINA-SETS-UP-JOINT-V   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA SETS UP JOINT VENTURE BANK WITH WORLD BANK</TITLE>
<DATELINE>    PEKING, March 24 - </DATELINE><BODY>State-owned Agricultural Bank of China
is to form a bank with the World Bank to "support China's
agricultural development and speed up its modernisation" in the
special economic zone of Xiamen, the People's Daily overseas
edition said.
    It gave no further details, but a Chinese banker said the
new International Agricultural Development Bank had capital of
less than 100 mln dlrs and would act mostly as an investment
bank, lending to farm processing businesses and rural
factories.
    He said the World Bank unit is the International Finance
Corp, which lends to private firms.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14167" NEWID="8646">
<DATE>24-MAR-1987 06:03:17.77</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0409&#31;reute
f f BC-S.AFRICA-DISCLOSING-N   03-24 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S.AFRICA DISCLOSING NEW ARRANGEMENT FOR FOREIGN DEBT REPAYMENT TODAY, FINANCE MINISTRY SAYS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14168" NEWID="8647">
<DATE>24-MAR-1987 06:10:03.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>hungary</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0417&#31;reute
u f BC-SUZUKI-MOTOR-PLANS-HU   03-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>SUZUKI MOTOR PLANS HUNGARIAN JOINT CAR VENTURE</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Suzuki Motor Co Ltd &lt;SZMT.T> is
negotiating a joint venture with Hungary to assemble compact
cars there following a request from its government, the first
entry by a Japanese car maker into a Communist country, a
Suzuki spokesman said.
    The company, in which General Motors Corp &lt;GM.N> has a 4.9
pct stake, has to set up such projects to avoid cutting
component production in Japan. Existing overseas vehicle
projects are increasing local content and so using fewer
Japanese parts, the spokesman said.
    Its Indian joint venture &lt;Maruti Udyog Ltd>, MUL, 26 pct
owned by Suzuki, will reduce component imports from Japan as it
increases local content to 60 pct from the present 40 pct in
1987, the spokesman said.
    The yen's continued rise against the dollar and Japan's
self-imposed restrictions on exports to the U.S. And Europe
were also to blame for cuts in car component manufacture in
Japan, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14169" NEWID="8648">
<DATE>24-MAR-1987 06:10:59.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0419&#31;reute
b f BC-COPENHAGEN-TELEPHONE   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>COPENHAGEN TELEPHONE 600 MLN FRENCH FRANC ISSUE</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>Copenhagen Telephone Co Ltd is issuing a
600 mln French franc 15-year retractable adjustable bond, lead
manager Credit Commercial de France (CCF) said.
    The bond will have an issue price of 101-1/8 pct and for
the first five years it will carry a nine pct coupon.
    The final due date will be April 28, 2002 and the issue
will be both puttable and callable on April 28, 1992 and 1997
at par.
    It will be denominated in 10,000 franc units and be listed
in Luxembourg. Co-lead will be Privatbanken.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14170" NEWID="8649">
<DATE>24-MAR-1987 06:24:31.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE><D>du-plessis</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0436&#31;reute
b f BC-SOUTH-AFRICA-SETS-NEW   03-24 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA SETS NEWS CONFERENCE ON DEBT</TITLE>
<DATELINE>    PRETORIA, March 24 - </DATELINE><BODY>South Africa will disclose later today
new arrangements for its repayment of foreign debt, the Finance
Ministry said.
    Finance Minister Barend du Plessis will announce details at
a news conference at 1500 gmt, a spokesman said.
    Sources close to the ministry said South African
negotiators had worked out a favorable agreement on repayment
of 13 billion dlrs of debt after a standstill agreement expires
on June 30.
    The sources said a South African delegation led by chief
debt negotiator Chris Stals, director-general of finance, was
completing meetings in London today with foreign creditor
banks.
    "As far as South Africa is concerned, it looks like very
good news," one source said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14171" NEWID="8650">
<DATE>24-MAR-1987 06:25:05.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0438&#31;reute
b f BC-ASEA-CAPITAL-ISSUES-1   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ASEA CAPITAL ISSUES 10 BILLION YEN BOND</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>ASEA Capital Corp BV is issuing a 10
billion yen bond due April 23, 1992 carrying a coupon of 4-1/2
pct and priced at 102-3/8, Mitsui Finance International Ltd
said as lead manager.
    The securities, which are guaranteed by parent company ASEA
Capital, will be listed on the Luxembourg Stock Exchange.
    There is a put and a call option in 1990 at par. The
securities are available in denominations of one mln yen each
and are payable on April 23, 1987.
    The company's outstanding issues are rated AA-minus by
Standard and Poor's Corp.
    There is a 1-1/4 pct selling concession and a 5/8 pct
combined management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14172" NEWID="8651">
<DATE>24-MAR-1987 06:29:23.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0445&#31;reute
u f BC-ALCATEL-CIT-AND-CAP-G   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>ALCATEL CIT AND CAP GEMINI WIN SWEDISH CONTRACTS</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>Alcatel CIT, the French subsidiary of
&lt;Alcatel NV> which groups the worldwide telecommunications
business of ITT Corp &lt;ITT.N> and France's state-owned Cie
Generale d'Electricite &lt;CGE>, has won a 15 mln French franc
contract to supply transmission equipment to the Swedish Armed
Forces, the company said in a communique here.
    The order is for digital multiplexers.
    At the same time French computer services group &lt;Cap Gemini
Sogeti> said it has won a five mln franc contract to develop a
data system for the Swedish aeronautical research institute.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14173" NEWID="8652">
<DATE>24-MAR-1987 06:37:38.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0448&#31;reute
u f BC-JAPANESE-CAPITAL-SPEN   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE CAPITAL SPENDING GROWTH EXPECTED TO SLOW</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Japanese private sector investment in
plant and equipment is expected to grow a real 0.9 pct in 1987,
after an estimated 5.5 pct rise last year, the Long-Term Credit
Bank of Japan Ltd said.
    It said its survey of 1,169 companies at the end of
February showed that manufacturing industry investment will
decline eight pct this year, while non-manufacturing will
increase 5.7 pct. It did not provide figures for 1986.
    The bank partly blamed the expected deline in manufacturing
investment on the uncertain outlook for demand in those
industries.
    The Long-Term Credit Bank also said that steelmaking and
shipbuilding companies are putting a squeeze on maintenance and
repair costs for their facilities and equipment.
    In non-manufacturing industry, growth in investment is
expected to be particularly marked in the wholesale and retail
store area, 12.4 pct, as new department stores and supermarkets
are built and old ones are remodelled.
    The Bank though expressed concern at a slowing of corporate
investment that would help restructure the Japanese economy and
urged government deregulation and other action to offset this.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14174" NEWID="8653">
<DATE>24-MAR-1987 06:37:49.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0449&#31;reute
u f BC-THAI-INTERNATIONAL-BU   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>THAI INTERNATIONAL BUYS TWO DC 10-30S</TITLE>
<DATELINE>    BANGKOK, March 24 - </DATELINE><BODY>The Cabinet approved a plan for
state-owned &lt;Thai Airways International Ltd> to buy two new DC
10-30 extended range planes for 126 mln dlrs, a government
spokesman said.
    He said Thai International will put the two aircraft on its
Bangkok-Europe service as part of a 1988-1991 expansion plan.
    The purchase of the new 'planes, due to be delivered late
this year, is being partly financed by 62 mln dlrs from the
airline's sale of its two old DC 10-30s to the Scandinavian
Airline System.
    The spokesman said the remaining 64 mln dlr cost of the new
DCs is expected to be met by Thai International's own budget.
    He said the national carrier was told by the Cabinet to
consider seeking a foreign loan to finance the acquisition.
    The government also asked Thai International to cooperate
with the finance and communications ministries in reviving a
Cabinet plan for the airline to raise its capital through a
public flotation, the spokesman said.
    He said a Cabinet decision in February 1986 called on Thai
International to float up to 29 pct of the company, a proposal
aimed at helping the airline meet its four-year expansion plan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14175" NEWID="8654">
<DATE>24-MAR-1987 06:47:25.04</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0464&#31;reute
u f BC-GERMAN-FEB-SUGAR-STOC   03-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN FEB SUGAR STOCKS UP IN YEAR, DOWN IN MONTH</TITLE>
<DATELINE>    BONN, March 24 - </DATELINE><BODY>West German sugar stocks rose to 2.60 mln
tonnes, white value, at the end of February from 2.50 mln at
the same time a year earlier, the sugar industry association
WVZ said.
    However, stocks were well below the 2.82 mln held at the
end of January.
    Sugar exports between October 1 and February 28 rose to
449,253 tonnes from 435,727 in the same period of 1985/86.
Sales to non-European Community countries rose to 419,541
tonnes from 349,511, while sales within the EC fell sharply to
29,712 tonnes from 86,216.
    Imports in October-February fell to 59,605 tonnes from
76,044 in the same months a year earlier, the sugar industry
association said.
    Human sugar consumption in October-February rose to 817,856
tonnes from 799,128 in the year-ago period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14176" NEWID="8655">
<DATE>24-MAR-1987 06:50:46.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0467&#31;reute
u f BC-FERRANTI-UNIT-LANDS-M   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FERRANTI UNIT LANDS MULTI MLN DLR CONRTACT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Ferranti Plc &lt;FNTI.L> said its Edinburgh
based electro-optics department of Ferranti Defence Systems Ltd
has secured a multi mln dlr contract to supply laser
rangefinders for the Canadian Forces Low Level Air Defense
System.
    The first production order for 38 of the type 629G lasers
has been placed by &lt;Martin Marietta> of the U.S., A
subcontractor to &lt;Orelikon Aerospace Incorporated> of Canada,
the prime contractor for the system. Some 300 further orders
are anticipated as the programme proceeds.
    Ferranti shares were 2p firmer at 134 after the news.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14177" NEWID="8656">
<DATE>24-MAR-1987 06:52:57.52</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>belgium</D><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0470&#31;reute
r f BC-PORTUGUESE-GRAIN-AGEN   03-24 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGUESE GRAIN AGENCY BAN TO REMAIN - EC SOURCES</TITLE>
<DATELINE>    BRUSSELS, March 24 - </DATELINE><BODY>A ban by a Portuguese court on the
state buying agency EPAC taking part in cereals import tenders
open to private traders will remain unless it is reversed in
Portugal or challenged in the European Court of Justice,
European Commission sources said.
    They denied a statement yesterday by Portuguese Agriculture
Minister Alvaro Barreto that the commission had accepted that
EPAC should be eligible, saying it had taken no view in the
matter.
    Under the terms of Portugal's accession to the European
Community, a grain import monopoly held by EPAC is being
reduced by 20 pct annually until all imports are liberalised in
1990.
    Lisbon's civil court decided in a preliminary ruling
earlier this month that EPAC should not be allowed to take
part, as it had done in the past, in tenders for the
liberalised share of annual grain imports.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14178" NEWID="8657">
<DATE>24-MAR-1987 07:09:25.92</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0488&#31;reute
r f BC-BANK-OF-JAPAN-STEPS-U   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN STEPS UP DOLLAR BUYING</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>The Bank of Japan stepped up its dollar
buying as it re-entered the market after the midday Tokyo lunch
break, dealers said.
    They said the bank seemed more determined to support the
dollar than it did this morning.
    Several dealers said the central bank intervened this
afternoon when the dollar stood around 149 yen.
    One said it purchased 150 to 200 mln dlrs in the half-hour
since the market re-opened after its lunchtime closure. Another
said the bank still has buying orders in the market.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14179" NEWID="8658">
<DATE>24-MAR-1987 07:09:47.38</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0491&#31;reute
r f BC-SUMITA-SAYS-BANK-WILL   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMITA SAYS BANK WILL INTERVENE IF NECESSARY</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Bank of Japan Governor Satoshi Sumita
said in a statement the central bank will intervene in foreign
exchange markets to stabilise exchange rates if necessary in
close cooperation with other major industrial nations.
    Sumita said the Bank will take adequate measures including
market intervention, if necessary, in line with the February 22
Paris agreement by six major industrial nations.
    Canada, Britain, France, Japan, the U.S. And West Germany
agreed to cooperate in stabilising exchange rates around
current levels. Sumita's statement was issued after the dollar
slipped below 150 yen to hit a record low of 148.40.
    "It is inevitable that exchange rates fluctuate under the
system of floating rates," Sumita said.
    The fact the dollar plunged below 150 yen does not mean
anything significant under the floating system, he said.
    The six nations agreed in Paris exchange rates prevailing
then were broadly consistent with underlying economic
fundamentals and further substantial rate shifts could damage
growth and adjustment prospects in their countries, the Paris
statement said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14180" NEWID="8659">
<DATE>24-MAR-1987 07:10:26.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0494&#31;reute
r f BC-AMERICAN-CAN-ISSUING   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CAN ISSUING 150 MLN DLR CONVERTIBLE BOND</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>American Can Co &lt;AC.N> is issuing a 150
mln dlr convertible eurobond due April 22, 2002 carrying an
indicated coupon of 5-1/2 to 5-7/8 pct priced at par, lead
manager Morgan Stanley International said.
    Terms will be set this week with a conversion premium of 25
to 28 pct. The bond is available in denominations of 1,000 and
10,000 dlrs and be listed in Luxembourg.
    There is no call for three years, subsequently at par plus
the coupon, declining by equal amounts per annum until 1997.
    Fees comprise 1-1/2 pct selling concession and one pct
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14181" NEWID="8660">
<DATE>24-MAR-1987 07:11:07.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0495&#31;reute
u f BC-SECOND-PAKISTAN-BOMBI   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>SECOND PAKISTAN BOMBING KILLS 22</TITLE>
<DATELINE>    ISLAMABAD, March 24 - </DATELINE><BODY>Afghan warplanes killed 22 people in
a second bombing in as many days of a remote Pakistani village
near the Afghan border, official Radio Pakistan said.
    The radio said the six planes attacked Angur Adar in the
South Waziristan area. Afghanistan has denied previous charges
of bombing Pakistani territory.
    Officials said the death toll from yesterday's Afghan
bombing in Teri Mangal to the north had risen to at least 70 as
more bodies were recovered. Fifty-one people were reported
killed yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14182" NEWID="8661">
<DATE>24-MAR-1987 07:11:37.16</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0496&#31;reute
r f BC-CBI-SURVEY-POINTS-TO   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CBI SURVEY POINTS TO SURGE IN U.K. OUTPUT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>British manufacturers expect output to
grow rapidly in the four coming months, a Confederation of
British Industry (CBI) survey shows.
    The CBI's monthly trends survey for March shows that 43 pct
of the 1,685 polled U.K. Firms expect to raise output in the
next four months. Only nine pct expect output to fall while 47
pct said production would likely remain unchanged.
    The CBI said the positive balance between firms expecting
production to rise and those forecasting a fall, at 34 pct, was
the highest such figure recorded since 1977.
    In the CBI's February survey, 37 pct of companies expected
a rise in output while 54 pct forecast production would remain
at present levels and eight pct expected production to drop.
    The survey also showed that 23 pct of the polled companies
consider current order books to be above normal while 58 pct
view them as normal and only 19 pct regard them as below
normal.
    This was the highest positive balance since the question
was first asked more than 10 years ago, the CBI said.
    In February, the figures were 24 pct, 22 pct and 54 pct
respectively.
    Companies also rated their export possibilities higher. Of
all polled companies, 23 pct rated their export order books to
be above normal and 53 pct described them as normal while only
23 pct believed export orders were below normal levels.
    In February, 25 pct thought their export books were below
normal and 50 pct believed them to be about normal. At 23 pct,
the proportion of companies rating their export books above
normal was unchanged between February and March.
    On prices, the survey showed that 62 pct of companies
expect average prices at which domestic orders are booked will
remain unchanged in the coming four months, up from 57 pct in
February.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14183" NEWID="8662">
<DATE>24-MAR-1987 07:14:00.22</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>usa</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0503&#31;reute
u f BC-YEUTTER-SEES-GATT-CON   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SEES GATT CONSENSUS ON FARM TRADE REFORM</TITLE>
<AUTHOR>    By Graham Hillier, Reuters</AUTHOR>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>U.S. Trade Representative
Clayton Yeutter said trade ministers meeting here have reached
a general consensus on agricultural trade reform under the
latest Uruguay round of the General Agreement on Tariffs and
Trade (GATT).
    Yeutter gave no precise details of the understanding but
told journalists the consensus covers the principles involved
in agricultural trade reform and what needs to be done to
improve the global situation in agriculture.
    Delegates from 22 countries are meeting informally to
discuss progress made since the latest GATT round was launched
in Punta del Este, Uruguay, last September.
    Yeutter said "at least people seem to be going down the same
road...But how that translates ultimately into negotiations is
another matter entirely."
    There seems to be an understanding of the need to deal with
the problem quickly and "a more common understanding of how we
are going to get from here to there," Yeutter said.
    However, the hard work is still to come, with a couple of
years of tough negotiations ahead, he said.
    "It is ludicrous for the nations of the world to plough
immense amounts of financial resources into the production of
items that nobody wants to buy," he said.
    He said the long-term answer is to switch some of the
financial resources now committed to agriculture to other more
productive areas. This would help agriculture because some its
inefficient non-productive segments would stop operating, he
said.
    Individual segments in many countries may lose in the
process, but it should result in a more rational system of
world-wide production within 10 or 15 years, he said.
    It is important that the agriculture negotiations reach a
relatively early conclusion because the U.S. Is spending 26
billion dlrs a year and the European Community probably more
than that, which is an ineffective use of financial resources,
he said.
    Asked about the prospect of a priority for agriculture in
the negotiations, he said "one has to be politically
realistic... If there is any chance of getting it (agricultural
trade reform) done in two to three years it's going to have to
be as part of a larger package."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14184" NEWID="8663">
<DATE>24-MAR-1987 07:15:16.55</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D><D>tamura</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0512&#31;reute
r f BC-NAKASONE-INTERVENES-I   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE INTERVENES IN MICROCHIP DISPUTE</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone
intervened to try to resolve Japan's escalating dispute with
the U.S. Over semiconductor trade, government officials said.
    At today's Cabinet meeting, Nakasone told Trade and
Industry Minister Hajime Tamura to redouble his efforts to calm
U.S. Anger over what it sees as Japan's unfair trade practices
in semiconductors.
    Nakasone intervened only two days before a scheduled
meeting of the Reagan administration's Economic Policy Council
to consider whether Japan is reneging on its microchip pact
with the U.S.
    That pact, agreed last year after months of negotiations,
calls on Japan to stop selling cut-price chips in world markets
and to raise its imports of U.S. Semiconductors.
    Senior U.S. Officials have accused Tokyo of failing to live
up to the accord and have threatened retaliatory action.
    Yesterday, Tamura's Ministry of International Trade and
Industry (MITI) launched a last-ditch attempt to salvage the
pact by writing letters to U.S. Policy makers setting out
Japan's case and telling Japanese chip makers to cut output.
    In his letter, the contents of which were released today,
Tamura said a MITI survey carried out at the beginning of March
showed Japanese producers were not selling at cut-rate prices
in Asian markets.
    In a separate letter sent to senior U.S. Officials, MITI
vice minister for international affairs Makoto Kuroda suggested
the two countries could conduct a joint investigation into
allegations of Japanese chip dumping in such markets.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14185" NEWID="8664">
<DATE>24-MAR-1987 07:16:46.69</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0517&#31;reute
r f BC-DOUBTS-ABOUT-ACCORD-S   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>DOUBTS ABOUT ACCORD SEEN WEAKENING DOLLAR FURTHER</TITLE>
<AUTHOR>    By Kunio Inoue, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>The dollar is expected to decline further
in coming days as scepticism mounts about the effectiveness of
last month's Paris accord to stabilise currency exchange rates,
senior foreign exchange dealers said.
    Following its fall today to a record 148.40 yen, dealers
said they expect the dollar to establish a new trading range of
147 to 150 yen before the market again tries to push it down.
Behind the latest dollar fall lies the belief that last month's
accord was no longer enough to stop operators pushing the
dollar down, the dealers said.
    "The recent remark by U.S. Treasury Secretary James Baker
that the Paris accord did not set any target ranges for major
currencies has cast a shadow on the agreement," said Koji
Kidokoro, general manager of Mitsui Bank Ltd's treasury
division.
    He said the market interpreted this as indicating the U.S.
Would favour a weaker dollar and it had little intention of
intervening to support the currency.
    "This eliminated the widespread market caution against
possible joint central bank intervention," Kidokoro said.
    Dealers said the dollar had gathered renewed downward
momentum and that Bank of Japan intervention alone could hardly
contain a further slide in the currency.
    They said the central bank bought between one to 1.5
billion dlrs today, including direct purchases through brokers,
and yesterday it might have bought a small amount of dollars
through the U.S. Central bank in New York.
    Most dealers said they doubted the U.S. Federal Reserve
would intervene on its own account to support the dollar, but
some said this might occur if the dollar fell much below 148
yen.
    "If the dollar drops to that low level, it could reduce the
flow of foreign capital into U.S. Securities, which the
Americans don't want," said Haruya Uehara, chief money market
manager of Mitsubishi Trust and Banking Corp.
    He said the dollar may return to around 152 yen next month
when corporations reduce their dollar sales after they close
their books for the 1986/87 business year ending on March 31.
    But dealers said the longer-term outlook for the dollar
remained bearish. This was due to the lacklustre performance of
the U.S. Economy, the continuing U.S. Trade deficit and
Japanese delays in announcing an economic stimulation package.
    "The Americans are getting frustrated at Japan's inertia in
stimulating its economy," said Hirozumi Tanaka, assistant
general manager of Dai-Ichi Kangyo Bank Ltd's international
treasury division.
    In the Paris currency accord Japan promised a package of
economic measures, after the fiscal 1987 budget was passed, to
boost domestic demand, increase imports, and thus reduce its
trade surplus. The package was expected in April, but debate on
the budget has been delayed by an opposition boycott of
parliamentary business over the proposed introduction of a
sales tax.
    In the circumstances the government had only a slim chance
of producing a meaningful economic package in the near future,
Dai-Ichi Kangyo's Tanaka said.
    Dealers said if steps are not taken to stimulate the
Japanese economy protectionist sentiment in the U.S. Congress
would grow and put more downward pressure on the dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14186" NEWID="8665">
<DATE>24-MAR-1987 07:17:06.40</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0520&#31;reute
f f BC-Prudential-Corp-1986   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Prudential Corp 1986 pretax profit 178.1 mln stg vs 110.1 mln
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14187" NEWID="8666">
<DATE>24-MAR-1987 07:17:53.16</DATE>
<TOPICS><D>acq</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;f0524&#31;reute
r f BC-NIPPON-LIFE,-SHEARSON   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON LIFE, SHEARSON TIE-UP SEEN SETTING TREND</TITLE>
<AUTHOR>    By Steven Brull, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Nippon Life Insurance Co's 538 mln dlr
purchase of a 13 pct stake in Shearson Lehman Brothers Inc
brokerage unit is a shrewd move that other Japanese insurers
are likely to follow, securities analysts said.
    The investment in one of Wall Street's top brokerage houses
is likely to pay off in dollars and international market
position, they said. "It's part of a trend towards growing
capital participation by Japanese insurance firms in foreign
financial institutions," said Simon Smithson, an analyst with
Kleinwort Benson International Inc in Tokyo.
    The investment in Shearson Lehman, a growing firm described
by some analysts as the top U.S. Retail brokerage, will give
Nippon Life a ringside seat and possibly lower commissions on
Wall Street, where it invests an increasing percentage of its
assets of 90.2 billion dlrs, they said.
    Nippon Life staff will also acquire expertise in business
sectors which have not yet opened up in Japan, they added.
    The agreement between the two companies calls for a 50-50
joint venture in London focussing on investment advisory asset
management, market research, and consulting on financing.
    Nippon Life is Japan's largest insurance company and the
world's biggest institutional investor, analysts said.
    The Japanese finance ministry is expected to approve the
deal in April, making Nippon Life the first Japanese life
insurance firm to take a stake in a U.S. Financial firm.
    The limit on foreign assets as a proportion of Japanese
insurers' assets was increased to 25 pct from 10 pct last year.
Since then, they have stepped up purchases of foreign stocks
and sought to deepen their understandng of foreign markets and
instruments.
    Last year, a Sumitomo Life Insurance Co official was
appointed to E.F. Hutton Group Inc unit E.F. Hutton and Co's
board and Sumitomo Bank Ltd spent 500 mln dlrs to become a
limited partner in Goldman, Sachs and Co.
    Smithson said Japanese banks started buying smaller and
problem-plagued banks in 1984. "But now Japanese are going for
blue-chip organisations," he said.
    "It's a reflection of what has happened in manufacturing
industries," said Brian Waterhouse at James Capel and Co. "With a
historically high yen, and historically low interest rates,
there's an increasing disincentive to invest in Japan."
    Competition in fund management has grown along with greater
Japanese savings. The typical salaried employee has 7.33 mln
yen in savings, reflecting an annual average savings rate of 17
to 18 pct, he said.
    To stay competitive, fund managers must invest overseas and
gain experience with financial instruments which are likely to
spread to Japan with further deregulation. "The high regulatory
environment has delayed (life insurance firms')
diversification. Now there's a growing number of new products
in an environment of increasing competition for performance on
fund management," Smithson said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14188" NEWID="8667">
<DATE>24-MAR-1987 07:20:06.59</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0533&#31;reute
r f BC-CANADA-OUTLINES-GATT   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA OUTLINES GATT AGRICULTURAL REFORM PLAN</TITLE>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>Canadian Trade Minister Pat
Carney said that agricultural policies should not hurt world
international trade and should therefore become more price
responsive over time.
    She told delegates at the informal meeting of trade
ministers that this was one of five principles Canada wanted
adopted in reforming agriculture in the General Agreement on
Tariffs and Trade (GATT). Secondly, support for agriculture
should avoid production incentives, and thirdly, countries
should freeze and seek to reduce government aid measures that
distorted world prices, Carney said.
    Carney said the fourth principle was that countries should
not introduce new import barriers not mandated by existing
legislation and the fifth was that these basic principles must
be implemented collectively.
    Carney later told Reuters the Canadian guidelines are
basically compatible with the seven point Australian proposals
announced in Davos, Switzerland, in January.
    European trade sources said the conference welcomed the
Canadian initiative but some delegates, and not only the
European Community, voiced reservations about some of the
principles.
    Carney said there was a lot of political will among the
ministers here to complete the Uruguay Round of GATT in under
four years and that there is also a realisation that it has to
be done in a balanced way.
    "The consensus view was to proceed as fast as we can on a
broad front and see what areas emerge where we can get early
conclusion," she said.
    However, the meeting did not identify what those areas are,
Carney said.  She said Canada/U.S. Bilateral trade
negotiations, which must be concluded at least in draft form by
October, are progressing well.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14189" NEWID="8668">
<DATE>24-MAR-1987 07:21:04.51</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;f0536&#31;reute
b f BC-PRUDENTIAL-CORP-PLC-&lt;   03-24 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>PRUDENTIAL CORP PLC &lt;PRUL.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 24 -
    </DATELINE><BODY>Shr 34.5p vs 24.5p adjusted
    Div 19p making 29p vs 24.8p adjusted
    Pretax profit 178.1 mln vs 110.1 mln
    Tax and minorities 60.5 mln vs 32.7 mln
    Profit attributable 117.6 mln vs 77.4 mln
    Pretax profit includes -
    Long term business 145.5 mln vs 137.7 mln
    General insurance business -
    Underwriting loss 99.9 mln vs 131.6 mln
    Investment income 94.8 mln vs 78.2 mln
    Trading loss 5.1 mln vs 53.4 mln
    Investment management, U.K. 6.4 mln vs 1.6 mln
    Shareholders' other income 31.3 mln vs 24.2 mln
    Pretax profit by division includes -
    U.K. Individual division 97.1 mln vs 89.5 mln
    U.K. Group pensions 10.5 mln vs 10.6 mln
    International 13.4 mln vs 12.4 mln
    Mercantile and General 24.5 mln vs 25.2 mln
    Prudential Portfolio managers 6.4 mln vs 1.6 mln
    Prudential Property Services 2.1 mln loss vs nil
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14190" NEWID="8669">
<DATE>24-MAR-1987 07:21:18.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0537&#31;reute
h f BC-PHILIPPINES-SAID-TO-R   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINES SAID TO RAISE INTEREST OFFER TO BANKS</TITLE>
<DATELINE>    MANILA, March 24 - </DATELINE><BODY>Prospects of an agreement on
rescheduling about 9.4 billion dlrs of Philippine foreign debt
have increased following the offer of a higher interest rate by
Manila officials, foreign banking sources said.
    The sources said Finance Secretary Jaime Ongpin made the
proposal to a 12-bank advisory committee, chaired by
Manufacturers Hanover Trust Co as the talks entered their
fourth week in New York.
    They said the Philippines was now willing to pay a spread
of 7/8 percentage points over London Interbank Offered Rates
(Libor), up from the 5/8 points it originally proposed.
    The sources said the proposal was made in a bid to break a
deadlock with the banks, who were insisting on a minimum
interest spread of one full percentage point over Libor.
    They noted that the latest plan marked a compromise between
the two sides' demands, but fell short of Ongpin's assertion
that the Philippines would insist on a deal better than the
13/16 percentage points offered to Mexico last year by its
creditor banks.
    The sources added that two key members of the negotiating
team returned to Manila last night, indicating agreement was
likely to be hammered out by this weekend.
    The sources said Finance Undersecretary Ernest Leung and
Deputy Central Bank Governor Edgardo Zialcita left New York
after Ongpin and Central Bank Governor Jose Fernandez started
talks with the banks to put finishing touches to the accord.
    "The talks are now in a make-or-break phase," the sources
said. "All that is left are the wrinkles -- unless some bank
again decides to hang tough."
    They were referring to the last round of negotiations in
November 1986, when one bank, identified as Citibank NA,
refused to endorse the committee's proposal of 1-1/8 points
over Libor.
 REUTER...
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14191" NEWID="8670">
<DATE>24-MAR-1987 07:23:08.00</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;V
&#22;&#22;&#1;f0542&#31;reute
u f BC-MAJOR-NATIONS-MUST-AC   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR NATIONS MUST ACT ON CURRENCIES - MIYAZAWA</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa said the
time has come for major industrialised nations to take action
on exchange rates in line with their agreement last month in
Paris.
    In Paris, Britain, Canada, France, Japan, the U.S. And West
Germany agreed to coooperate to hold currency rates around
their then current levels.
    Miyazawa would not say what specific measures major nations
would take, but told reporters the measures had been discussed
in Paris. The dollar fell to a record low against the yen this
morning, piercing the 150 yen barrier.
    Asked if major nations were now negotiating on what
measures to take, Miyazawa said they were not as measures had
already been agreed in Paris.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14192" NEWID="8671">
<DATE>24-MAR-1987 07:23:18.87</DATE>
<TOPICS><D>ipi</D><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0543&#31;reute
d f BC-JAPAN-ECONOMY-MAY-STA   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN ECONOMY MAY START BOTTOMING OUT SOON -AGENCY</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Japan's economy remains sluggish but is
beginning to show signs it may bottom out soon, the Economic
Planning Agency said in a monthly report submitted to Cabinet
ministers.
    But a bottoming out of the economy depends largely on the
yen's exchange rate trend in the immediate future, Agency
officials said.
    The officials told reporters industrial production, down
0.5 pct in January from December, is likely to turn positive in
February and to rise thereafter, raising hopes for a brighter
economic outlook.
    The Agency predicted industrial production will grow 2.5
pct in the current January/March quarter after falling 0.7 pct
in the previous quarter.
    A rise of this size would be the largest since the fourth
quarter of 1984 when industrial output rose 2.7 pct, the
officials said.
    They also said an expected upturn in exports would be a
mixed blessing as it would contribute to economic growth but
would increase the chance of trade friction.
    Japanese exports contracted five pct in February from
January but are likely to grow from March if the yen stabilizes
around current levels, the officials said.
    They predicted exports will increase by 2.3 pct in the
January/March quarter from the October/December quarter.
    "But the problem is imports are not expanding," said one
official. Imports fell by 9.4 pct in February from January.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14193" NEWID="8672">
<DATE>24-MAR-1987 07:23:45.06</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0545&#31;reute
u f BC-KUWAIT-SAYS-OPEC-2.4   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>KUWAIT SAYS OPEC 2.4 MLN BPD BELOW CEILING</TITLE>
<DATELINE>    KUWAIT, March 24 - </DATELINE><BODY>Kuwaiti oil minister Sheikh Ali
al-Khalifa al-Sabah said OPEC was producing well below its oil
output ceiling and this would help prices move higher,
according to a Kuwaiti newspaper interview.
    The al-Rai al-Aam newspaper quoted him as saying OPEC was
pumping 2.4 mln barrels per day (bpd) less than its 15.8 mln
bpd ceiling, while consumers were drawing down their petroleum
stocks at a rate of 4.5 mln bpd.
    As long as OPEC maintains its output curbs, demand for its
oil will rise in April and May, Sheikh Ali said, adding that
Kuwait was strongly committed to its OPEC quota.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14194" NEWID="8673">
<DATE>24-MAR-1987 07:26:33.86</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0554&#31;reute
f f BC-******   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Bundesbank allocates 6.5 billion marks in 28-day repurchase pact at 3.80 pct
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14195" NEWID="8674">
<DATE>24-MAR-1987 07:26:41.30</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0555&#31;reute
u f BC-MIYAZAWA-SAYS-U.S.-LI   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS U.S. LIKELY TO INTERVENE</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa told
Parliament's Lower House Finance Committee that the U.S. Is
expected to intervene in the foreign exchange market to
stabilise exchange rates, political sources said.
    Asked if the U.S. Federal Reserve Board agreed in Paris
last month to intervene to stabilise exchange rates, Miyazawa
said yes, the sources said.
    Miyazawa was also quoted as saying that he is sceptical
about the effectiveness of currency reference ranges even if
major nations agree on such an idea as it is extremely
difficult to set such ranges.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14196" NEWID="8675">
<DATE>24-MAR-1987 07:27:15.64</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>kuwait</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0556&#31;reute
u f BC-U.S.-OFFERS-TO-ESCORT   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. OFFERS TO ESCORT KUWAITI TANKERS IN GULF</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The U.S. Has offered warships to
escort Kuwaiti tankers in the Gulf past Iranian anti-ship
missile batteries, Defence Department officials said.
    The officials told Reuters yesterday the offer was made
last week by Navy Admiral William Crowe, chairman of the
Pentagon Joint Chiefs of Staff, during a Middle East visit.
    Reagan administration officials said later that Washington
did not seek military confrontation with Tehran, but would not
let Iran use Chinese-made "Silkworm" anti-ship missiles, capable
of covering the narrow entrance to the Gulf, to choke oil
shipments to the West.
    Defence officials said Kuwait had asked if protection for
up to a dozen vessels, most of them tankers, could be provided
by three U.S. Navy destroyers and two frigates now in the
southern Gulf and the Gulf of Oman.
    In addition to a half dozen ships in the U.S. Navy's small
Mideast Task Force near the Straits of Hormuz, the Pentagon has
moved 18 warships, including the aircraft carrier Kitty Hawk,
into the northern Arabian Sea in the past month.
    White House and defence officials said that massing the
fleet was routine and had nothing to do with the Iran-Iraq war
or Iran's stationing of missiles near the mouth of the Gulf.
    The State Department said on Friday that Iran has been told
about U.S. Concern over the threat to oil shipments in the
Gulf. The communication was sent through Switzerland, which
represents U.S. Interests in Iran.
    Iran denied as baseless reports that it intended to
threaten shipping in the Gulf and said any U.S. Interference in
the region would meet a strong response, Tehran Radio said on
Sunday.
    Several hundred vessels have been confirmed hit in the Gulf
by Iran and Iraq since early 1984 in the so-called tanker war,
an offshoot of their 6-1/2-year-old ground conflict.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14197" NEWID="8676">
<DATE>24-MAR-1987 07:28:28.39</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0560&#31;reute
u f BC-YEUTTER-SAYS-U.S.-JAP   03-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SAYS U.S.-JAPAN TRADE DIFFICULTIES REMAIN</TITLE>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>U.S. Trade Representative
Clayton Yeutter said he was unsure whether some of the trade
issues straining U.S.-Japanese relations would be resolved
before the two countries open trade talks in late April.
    "We are having high level discussions on them (the issues)
within the United States...The relationship on some of those is
very strained between us (Japan) at the moment and we need to
relieve those strains at the earliest possible date," he said.
    "I am not sure we can wait until late April," he added.
    Yeutter is in New Zealand for a two-day informal meeting of
trade ministers who are reviewing the Uruguay round of the
General Agreement on Trade and Tariffs (GATT).
    He said he will meet the Japanese delegation over the next
few days but declined to discuss methods of relieving the
strain between the two countries.
    Yeutter said earlier the three most contentious trade
issues were semiconductors, Japanese government unwillingness
to allow public entities to buy U.S. Super-computers and the
barring of U.S. Firms from the eight billion U.S. Dlr Kansai
airport project near Osaka.
    The Japanese delegation to the GATT talks said in a
statement yesterday they are making major efforts to dismantle
trade barriers in their country.
    "I am convinced that they are attempting to move their
policies in the right direction. The question is how far and
how fast," Yeutter said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14198" NEWID="8677">
<DATE>24-MAR-1987 07:29:11.71</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0564&#31;reute
b f BC-BUNDESBANK-ALLOCATES   03-24 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK ALLOCATES 6.5 BILLION MARKS IN TENDER</TITLE>
<DATELINE>    FRANKFURT, March 24 - </DATELINE><BODY>The Bundesbank accepted bids for 6.5
billion marks at today's tender for a 28-day securities
repurchase pact at a rate of 3.80 pct, a central bank spokesman
said.
    Banks, which bid for a total 8.6 billion marks liquidity,
will be credited with the funds allocated tomorrow and must buy
back securities pledged on April 22.
    The allocation was in line with market expectations the
Bundesbank would provide more than the 3.4 billion marks
draining from this week as an earlier facility expires.
    Call money fell to 3.60/70 pct ahead of the allocation from
3.75/85 pct yesterday, dealers said.
    The excess allocation compensates for public funds leaving
the system which the Bundesbank added last week via
government-owned banks.
    However major tax payments by banks on behalf of customers
drew to a close this week, lessening the need for liquidity.
    The call money declines surprised some dealers, who
speculated it was because the Bundesbank disbursed further
government funds today. However, most said this had not
occurred.
    Banks were well stocked with liquidity, having 47.1 billion
marks in minimum reserves at the Bundesbank on Friday, up from
49.9 billion on Thursday. Average daily reserves over the first
20 days of the month fell to 52.6 billion from 53.1 billion.
For all of March, banks would be required to hold net daily
average reserves of 50.7 billion marks, dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14199" NEWID="8678">
<DATE>24-MAR-1987 07:29:56.82</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;f0566&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-24 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN 115 MLN STG ASSISTANCE</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The Bank of England said it had provided
the money market with 115 mln stg assistance in the morning
session. This compares with the Bank's forecast of a 300 mln
stg shortage in the system today.
    The central bank bought bills outright in band two at
9-13/16 pct comprising 73 mln stg bank bills and 42 mln stg
local authority bills.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14200" NEWID="8679">
<DATE>24-MAR-1987 07:30:06.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0567&#31;reute
u f PM-BLAST   03-24 0127</UNKNOWN>
<TEXT>&#2;
<TITLE>BOMB EXPLODES AT BRITISH ARMY BASE, 30 INJURED</TITLE>
<DATELINE>    BONN, March 24 - </DATELINE><BODY>A huge car bomb exploded at the
headquarters of the British Army of the Rhine last night,
injuring about 30 people just hours after British Prime
Minister Margaret Thatcher left the West German capital.
    A British Army spokeswoman said today that seven people
were still being treated for minor injuries in hospitals in the
Moenchengladbach area, near the Rheindahlen base, after being
being hit by flying shards of glass from the blast.
    The 100-kg bomb went off outside an officers' mess at 10.30
P.M. (2130 GMT), ripping a crater half a meter (1.5 feet) deep
and three meters (nine feet) wide in the ground, and could be
heard several kilometers (miles) away, a police spokesman said.
    An anonymous caller, speaking English, telephoned the West
German domestic news agency Deutsche Presse Agentur just before
the explosion and said a bomb was about to go off at the base.
    Thatcher left Bonn early yesterday evening after talks with
with Chancellor Helmut Kohl ahead of her visit to Moscow next
week. She had flown to West Germany from talks with French
President Francois Mitterrand in Normandy earlier in the day.
    Officers of the Nato Northern Army Group, which is also
based at Rheindahlen, were holding a social dinner attended by
British and West German servicemen and their wives inside the
mess when the bomb went off.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14201" NEWID="8680">
<DATE>24-MAR-1987 07:33:15.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE><D>du-plessis</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0576&#31;reute
u f BC-SOUTH-AFRICA-SETS-NEW   03-24 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA SETS NEWS CONFERENCE ON DEBT</TITLE>
<DATELINE>    PRETORIA, March 24 - </DATELINE><BODY>South Africa will disclose later today
new arrangements for its repayment of foreign debt, the Finance
Ministry said.
    Finance Minister Barend du Plessis will announce details at
a news conference at 1500 gmt, a spokesman said.
    Sources close to the ministry said South African
negotiators had worked out a favorable agreement on repayment
of 13 billion dlrs of debt after a standstill agreement expires
on June 30.
    The sources said a South African delegation led by chief
debt negotiator Chris Stals, director-general of finance, was
completing meetings in London today with foreign creditor
banks.
    "As far as South Africa is concerned, it looks like very
good news," one source said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14202" NEWID="8681">
<DATE>24-MAR-1987 07:34:07.31</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0579&#31;reute
r f BC-FRENCH-EMPLOYERS-CHIE   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH EMPLOYERS CHIEF SEES HOPE FOR GROWTH</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>The 1992 deadline for abolishing economic
barriers within the European Community should help French
economic growth and create jobs, president of the French
employers' federation CNPF Francois Perigot said.
    "Having a market at our disposal which is as homogeneous and
accessible as that of Europe is an incredible piece of luck," he
told Le Figaro in an interview.
    He said that the majority of French business leaders were
enthusiastic about the abolition of barriers and saw it as an
opportunity rather than a danger for their companies.
    "It can permit us to return to a growth rate which is much
better than we could achieve in isolation. We know that we have
to reestablish growth at three pct a year to solve the enormous
problems confronting us -- and I am referring mainly to
unemployment," Perigot added.
    Finance Minister Edouard Balladur said yesterday that
French growth would be just two pct this year, the same as last
year and compared with the government's original 2.8 pct
target.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14203" NEWID="8682">
<DATE>24-MAR-1987 07:34:49.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0583&#31;reute
b f BC-EUROFIMA-ISSUES-125-M   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>EUROFIMA ISSUES 125 MLN ECU 10-YEAR EUROBOND</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>Eurofima is issuing a 125 mln ECU, 7-3/8
pct bond due March 3, 1997 at 101-1/2 pct, lead manager Societe
Generale said.
    Fees are 1-1/4 pct for selling and 3/8 pct each for
management and underwriting including a 1/8 pct praecipuum.
    The non-callable deal of unsecured, unsubordinated debt is
in denominations of 1,000 and 10,000 ECUs and will be listed in
Luxembourg. Payment date is April 21 giving a short first
coupon. Co-lead managers are DBCM and SBCI.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14204" NEWID="8683">
<DATE>24-MAR-1987 07:36:44.40</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>ussr</D><D>cuba</D><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0587&#31;reute
r f BC-SOVIET-SUGAR-IMPORTS   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET SUGAR IMPORTS HIGHER IN OCT/NOV</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Soviet sugar imports in October and
November were significantly higher than in the same period of
the year before, according to figures received by the
International Sugar Organization.
    Imports in October totalled 23,803 tonnes, compared with
4,685 tonnes in the same month of 1985, while November imports
were up to 136,029 tonnes from 46,541.
    For the first 11 months of 1986, Soviet imports totalled
5.12 mln tonnes, against 4.30 mln in the same period of 1985.
    The October 1986 import figure consisted entirely of whites
from Cuba, while the November total was made up of 84,037
tonnes Cuban whites and 51,992 tonnes whites from Thailand. Of
the imports in the January/November period, those from Cuba
were up to 3.81 mln tonnes from 3.65 mln and from Thailand to
292,808 tonnes from 22,800.
    Soviet exports also increased in 1986. The January/November
export total of 289,232 compares with 165,859 tonnes in the
first 11 months of 1985. Exports in October 1986 were 20,064,
down from 38,853 a year earlier, while November exports were up
from 32,796 to 50,855 tonnes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14205" NEWID="8684">
<DATE>24-MAR-1987 07:38:09.98</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0590&#31;reute
r f BC-WEST-GERMAN-1986-SUGA   03-24 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMAN 1986 SUGAR OUTPUT RISES</TITLE>
<DATELINE>    HAMBURG, March 24 - </DATELINE><BODY>West German sugar production last year
rose 38,000 tonnes to an estimated 3.17 mln tonnes, the
Agricultural Ministry said.
    It said the increase was exclusively due to higher beet
sugar content, which went up to 17.93 pct from 17.3 pct in
1985.
    Last year's beet deliveries totalled 20.22 mln tonnes, down
554,000 tonnes from the previous year.
    The ministry estimates West Germany's sugar
self-sufficiency during the current agricultural year
(July/June) unchanged at 137 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14206" NEWID="8685">
<DATE>24-MAR-1987 07:40:04.35</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;f0593&#31;reute
b f BC-NORCROS-REJECTS-542.2   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>NORCROS REJECTS 542.2 MLN STG BID FROM WILLIAMS</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Norcros Plc &lt;NCRO.L> the building
products and packaging group said its board had no hesitation
in unanimously rejecting this morning's 542.2 mln stg bid from
&lt;Williams Holdings Plc>, the industrial holding firm.
    The company said Williams' 432.7p per share offer was
unsolicited and unwelcome and significantly undervalues
Norcros. By 1228 gmt Norcros shares were quoted at 418p, up
from 397p at yesterday's close. Williams was 15p higher at 765.
    The Norcros board's detailed views will be sent to
shareholders when the formal offer document has been issued by
Williams.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14207" NEWID="8686">
<DATE>24-MAR-1987 07:52:14.68</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0616&#31;reute
u f BC-NO-PROOF-OF-MORE-CHER   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>NO PROOF OF MORE CHERNOBYL GRAIN DAMAGE-DIPLOMATS</TITLE>
<DATELINE>    MOSCOW, March 24 - </DATELINE><BODY>Western agricultural attaches in Moscow
said they had no evidence to substantiate rumours that last
April's Chernobyl nuclear disaster had a worse effect on Soviet
grain than first reported.
    Current Soviet interest in chartering ships to carry grain
from the U.S. Helped prompt the rumours on world markets. But
the diplomats said they had seen no reports in the state press
and heard no comments from officials to substantiate them.
    The official media was initially slow in reporting the
accident but, under Kremlin leader Mikhail Gorbachev's campaign
for openness, gradually gave more and more details.
    Land around the nuclear plant was contaminated to varying
degrees. Some is now being used to grow industrial crops
instead of grain.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14208" NEWID="8687">
<DATE>24-MAR-1987 07:55:36.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0621&#31;reute
b f BC-SCHLESWIG-HOLSTEIN-LB   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SCHLESWIG HOLSTEIN LB ISSUES AUSTRALIAN DLR BOND</TITLE>
<DATELINE>    London, March 24 - </DATELINE><BODY>Schleswig-Holstein Landesbank (LB)
Finance BV is issuing a 30 mln Australian dlr bond due April
30, 1990 carrying a coupon of 14-5/8 pct and priced at 101-3/8,
said ANZ Merchant Bank Ltd as lead manager.
    The securities are guaranteed by parent company,
Schleswig-Holstein Landesbank Girozentrale and will be listed
on the Luxembourg Stock Exchange. They are available in
denominations of 1,000 dlrs.
    Payment date is April 30. There is a one pct selling
concession and a 1/2 pct combined underwriting and management
fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14209" NEWID="8688">
<DATE>24-MAR-1987 07:56:26.66</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>iran</D><D>bahrain</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0625&#31;reute
u f BC-IRAN-SAID-TO-TEST-FIR   03-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN SAID TO TEST FIRE SILKWORM MISSILE IN HORMUZ</TITLE>
<DATELINE>    BAHRAIN, March 24 - </DATELINE><BODY>Iran has test-fired its newly acquired
Silkworm anti-shipping missile in the Strait of Hormuz and has
set up at least two land-based launching sites in the area, a
British naval source in the Gulf said.
    The source, who declined to be identified, said Iran had
fired the Chinese-made missile at a hulk off its southern Gulf
naval port of Bandar Abbas and scored a hit.
    "These missiles pack a fairly big punch," he told Reuters.
"There is no doubt they could be used to target (shipping)
across the Strait of Hormuz."
    Tension in the Gulf has risen since U.S. Officials last
week broke the news that Iran had acquired the Silkworm
missiles.
    The U.S. Has said it will not allow Iran to use the
missiles to choke off oil shipments and has offered its
warships to escort Kuwaiti tankers past the missile batteries.
    But Tehran denied last Sunday it intended to threaten Gulf
shipping and warned the U.S. Any interference in the region
would meet a strong response.
    The British naval source said the Silkworms were in place
at at least two sites around the Strait of Hormuz, but would
not give the exact location.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14210" NEWID="8689">
<DATE>24-MAR-1987 08:05:35.42</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0646&#31;reute
r f BC-MERRILL-LYNCH-&lt;MER>-I   03-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>MERRILL LYNCH &lt;MER> IN TALKS ON CANADA PURCHASES</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Merrill Lynch and Co Inc is holding
talks on acquiring Canadian brokerage firms, a company
spokesman told Reuters.
    He said one of the firms with which Merrill Lynch is
negotiating is &lt;Burns Fry Corp> of Toronto, which has already
received an offer from Security Pacific Corp's &lt;SPC> 83 pct
owned &lt;Hoare Govett Ltd> London-based brokerage unit.  The
Hoare Govett bid is valued at about 210.4 mln U.S. dlrs.
    The spokesman said the talks are the result of a change in
Ontario securities laws that takes effect June 30.
    Currently, companies outside the Canadian securities
industry are prohibited from owning more than 10 pct of a
Canadian broker.  On June 30, 1987, foreign brokers will be
allowed to own up to 50 pct of Canadian brokers, and the
percentage will rise to 100 pct a year later.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14211" NEWID="8690">
<DATE>24-MAR-1987 08:07:19.86</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;f0655&#31;reute
r f BC-MARK-IV-&lt;IV>-STARTS-B   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>MARK IV &lt;IV> STARTS BID FOR CONRAC &lt;CAX></TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Mark IV Industries Inc said it has
started the 25 dlr per share tender offer for all shares of
Conrac Corp that it announced yesterday afternoon.
    In a newspaper advertisement, the company said the offer
and withdrawal rights expire April 20 unless extended.  The
offer is not conditioned on receipt of any minimum number of
shares but is conditioned on the arrangement of financing.
    Mark IV already owns about 9.9 pct of Conrac's 6.8 mln
shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14212" NEWID="8691">
<DATE>24-MAR-1987 08:07:26.91</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0656&#31;reute
r f BC-ECOLAB-&lt;ECL>-STARTS-B   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>ECOLAB &lt;ECL> STARTS BID FOR CHEMLAWN &lt;CHEM></TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Ecolab Inc said it has started its
previously-announced tender offer for all shares of ChemLawn
Corp at 36.50 dlrs each.
    In a newspaper advertisement, the company said the offer
and withdrawal rights expire April 20 unless extended.  The
ChemLawn board has approved the tender and a merger at the same
price that is to follow.
    Ecolab said the offer is conditioned on receipt of at least
5,325,000 shares.  ChemLawn now has about 10.0 mln shares
outstanding.
    Ecolab said ChemLawn has granted it a conditional option to
buy all authorized but unissued and unreseved ChemLawn shares
at 36.50 dlrs each.  The option is exercisable in the event
that another party were to acquire 20 pct or more of ChemLawn
by means other than a tender offer for all shares at a higher
price than Ecolab is offering.
    The company said if the merger agreement is terminated
under certain circumstasnces, it will be entitled to receive 20
mln dlrs in damages from ChemLawn.
    Ecolab said officers and directors of ChemLawn have granted
it options to acquire an aggregate of 2,535,435 ChemLawn shares
or about 24.8 pct for the tender price, again unless a higher
tender were to be made by another party.
    Waste Management Inc &lt;WMX> had originally made a hostile
tender offer of 27 dlrs per share for ChemLawn which ChemLawn
rejected as inadequate.  On Friday, Waste Management said it
would raise its bid to 35 dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14213" NEWID="8692">
<DATE>24-MAR-1987 08:15:18.40</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;f0682&#31;reute
r f BC-TAIWAN-PROPOSES-FURTH   03-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN PROPOSES FURTHER TARIFF CUTS</TITLE>
<DATELINE>    TAIPEI, March 24 - </DATELINE><BODY>Taiwan said it plans another round of
tariff cuts, possibly within a month, to try to narrow its
trade surplus with the U.S.
    Vice Finance Minister Ronald Ho said a high-level economic
committee recommended tariff cuts on 66 products requested by
Washington, including apples, chocolates and fruit juice.
    Ho said the cuts may come into effect by the end of next
month.
    Taiwan's trade surplus with the U.S. Widened in the first
two months of this year to 2.35 billion dlrs from 1.87 billion
dlrs in the same period last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14214" NEWID="8693">
<DATE>24-MAR-1987 08:23:05.67</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;f0707&#31;reute
r f BC-DISNEY-&lt;DIS>-FRENCH-D   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>DISNEY &lt;DIS> FRENCH DISNEYLAND DEAL DEFINITIVE</TITLE>
<DATELINE>    BURBANK, Calif., March 24 - </DATELINE><BODY>Walt Disney Co said it has
signed a definitive agreement with the French government to
build and operate Euro Disneyland on 5,000 acres at
Marne-la-Vallee, a new town 20 miles east of Paris.
    The company said construction is scheduled to start next
year and the theme park portion of the development -- which
will also include a resort and recreation complex -- will take
about four years to build.  The theme park is expected to
attract at least 10 mln visitors a year, Disney said.
    The company said Euro Disneyland will offer a Magic Kingdom
theme park like those at its Anaheim, Calif., Orlando, Fla.,
and Tokyo complexes and peripheral resort and recreation
facilities similar to those at Walt Disney World in Orlando.
    Disney said it will seek other equity investors in Euro
Disneyland from France and elsewhere in the world.
    It said provisions for a second theme park on the property
are included in the understanding with the French government,
which is selling Disney the land.  In Orlando, Disney also
operates EPCOT Center.
    The company said long-term plans include convention
facilities, a business park, an office complex and other
related tourist developments.
    Disney said the French government will extend the Paris
Metro subway system to the park and build interchanges and
raods to provide superhighway access.
    It said it will receive royalties based on gross revenues
from admissions, food and merchandise and will receive a fee to
operate Magic Kingdom and other resort elements under a
management contract.  Disney said Eruo Disneyland will operate
year-round.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14215" NEWID="8694">
<DATE>24-MAR-1987 08:23:50.09</DATE>
<TOPICS><D>cpi</D><D>wpi</D></TOPICS>
<PLACES><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0709&#31;reute
r f BC-PAKISTAN-CONSUMER-PRI   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>PAKISTAN CONSUMER PRICE INDEX FALLS IN JANUARY</TITLE>
<DATELINE>    KARACHI, March 24 - </DATELINE><BODY>Pakistan's consumer price index (base
1975/76) fell to 231.93 in January 1987 from 233.26 in December
1986, and compared with  223.66 a year ago, the federal Bureau
of Statistics said.
    The wholesale price index (same base) rose to 229.83 in
January from 229.06 in December and compared with  217.97 in
January 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14216" NEWID="8695">
<DATE>24-MAR-1987 08:25:11.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D><D>algeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0715&#31;reute
u f BC-ERICSSON-WINS-400-MLN   03-24 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>ERICSSON WINS 400 MLN CROWN ALGERIAN ORDER</TITLE>
<DATELINE>    STOCKHOLM, March 24 - </DATELINE><BODY>L M Ericsson &lt;ERIC ST> said it had
signed a contract worth nearly 400 mln crowns with the Algerian
Ministry of Telecommunications covering the supply of AXE
exchanges as part of an expansion of the country's
telecommunications network.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14217" NEWID="8696">
<DATE>24-MAR-1987 08:25:19.17</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>iran</D><D>bahrain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0716&#31;reute
u f BC-IRAN-SAID-TO-TEST-FIR   03-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN SAID TO TEST FIRE SILKWORM MISSILE IN HORMUZ</TITLE>
<DATELINE>    BAHRAIN, March 24 - </DATELINE><BODY>Iran has test-fired its newly acquired
Silkworm anti-shipping missile in the Strait of Hormuz and has
set up at least two land-based launching sites in the area, a
British naval source in the Gulf said.
    The source, who declined to be identified, said Iran had
fired the Chinese-made missile at a hulk off its southern Gulf
naval port of Bandar Abbas and scored a hit.
    "These missiles pack a fairly big punch," he told Reuters.
"There is no doubt they could be used to target (shipping)
across the Strait of Hormuz."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14218" NEWID="8697">
<DATE>24-MAR-1987 08:26:05.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0717&#31;reute
u f BC-BET-WINS-APPROVAL-FOR   03-24 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>BET WINS APPROVAL FOR U.S. SHARE ISSUE</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>British services company BET Plc
&lt;BETL.L> said its shareholders had given it approval to raise
up to 170 mln dlrs through a share issue to U.S. Investors.
    A company spokesman told Reuters the issue of up to 44 mln
shares will be in the form of American Depository Receipts
(ADRs) and that the total amount to be raised will probably be
75 to 100 mln dlrs, depending on market conditions.
    The issue is due to be completed in August, he said.
    BET shareholders also approved a one-for-one free share
issue to existing stockholders, the cancellation of preferred
stock and new articles of association, the company said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14219" NEWID="8698">
<DATE>24-MAR-1987 08:26:52.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0721&#31;reute
u f BC-BRITISH-TELECOM-AWARD   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM AWARDS ORDERS WORTH 73 MLN STG</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>British Telecommunications Plc &lt;BTY.L>
said orders worth around 73 mln stg have been awarded to three
British firms following competitive tendering for more than
500,000 lines of advanced digital local exchange equipment.
    The orders have been placed with &lt;GEC Telecommunications>,
&lt;Plessey Major Systems> and &lt;Thorn Ericsson
Telecommunications>.
    Plessey and GEC will between them supply some 455,000 lines
of System X equipment worth a total of more than 64 mln stg
while Thorn Ericsson has received orders for more than 70,000
lines of AXE10 exchanges, valued at around eight mln stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14220" NEWID="8699">
<DATE>24-MAR-1987 08:28:41.89</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;F
&#22;&#22;&#1;f0725&#31;reute
h f BC-TAIWAN-PROPOSES-FURTH   03-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN PROPOSES FURTHER TARIFF CUTS</TITLE>
<DATELINE>    TAIPEI, March 24 - </DATELINE><BODY>Taiwan said it plans another round of
tariff cuts, possibly within a month, to try to narrow its
trade surplus with the U.S.
    Vice Finance Minister Ronald Ho said a high-level economic
committee recommended tariff cuts on 66 products requested by
Washington, including apples, chocolates and fruit juice.
    Ho said the cuts may come into effect by the end of next
month.
    Taiwan's trade surplus with the U.S. Widened in the first
two months of this year to 2.35 billion dlrs from 1.87 billion
dlrs in the same period last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14221" NEWID="8700">
<DATE>24-MAR-1987 08:28:52.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0726&#31;reute
r f BC-CREDIT-SUISSE-FREEZES   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>CREDIT SUISSE FREEZES ACCOUNTS IN INSIDER PROBE</TITLE>
<DATELINE>    ZURICH, March 24 - </DATELINE><BODY>Credit Suisse &lt;CRSZ.Z> has been ordered
to freeze accounts thought to have been involved in a U.S.
Insider trading scandal, a Justice Ministry spokesman said.
    Joerg Kistler said the accounts belonged to two individuals
and three companies, including Nahum Vaskevitch, former head of
the London office of Merrill Lynch and Co &lt;MER.N>.
    The accounts were blocked under a treaty on legal
assistance between the United States and Switzerland aimed at
facilitating criminal investigations which might otherwise
remain hidden because of Swiss banking secrecy.
    The order prohibits transactions on the accounts for an
initial period of 30 days, after an emergency request from the
United States arrived last Friday.
    The U.S. Securities and Exchange Commission (SEC), which
supervises stock market trading, alleged this month that
Vaskevitch and an Israeli associate, Daniel Sofer, were behind
an insider trading ring which netted profits of four mln dlrs.
    The order freezes accounts owned by Vaskevitch and Sofer as
well as those of the companies &lt;Plenmeer Ltd> and &lt;Meda
Establishment>, Kistler said. He declined to name the third
company, since it was not clear what role it played.
    A spokesman for the bank said he was aware of the order.
"Now we have to find out what is on the accounts," he said. He
declined to give further details.
    The SEC alleged in a New York court last week that Sofer
transferred 1.9 million dollars from a U.S. Bank account of the
company Plenmeer to an account at Credit Suisse.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14222" NEWID="8701">
<DATE>24-MAR-1987 08:30:38.92</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0731&#31;reute
f f BC-******U.S.-FEB-DURABL   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. FEB DURABLE GOODS ORDERS ROSE 6.0 PCT, NONDEFENSE DURABLES ROSE 3.8 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14223" NEWID="8702">
<DATE>24-MAR-1987 08:33:54.07</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;f0750&#31;reute
r f BC-STANDARD-CHARTERED-PL   03-24 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD CHARTERED PLC &lt;STCH.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 24 -
    </DATELINE><BODY>Shr 97.0p vs 85.3p
    Div 22.5p vs 20.0p making 35.0p vs 30.5p
    Pretax profit 253.9 mln stg vs 267.9 mln
    Tax 96.3 mln vs 125.6 mln
    Operating income 1.15 billion vs 998.8 mln
    Operating expenses 759.3 mln vs 692.7 mln
    Trading profit before charge for bad and doubtful debts
    394.4 mln stg vs 306.1 mln
    Charge for bad and doubtful debts 184.2 mln vs 100.7 mln
    Share of profits of associates 43.7 mln vs 62.5 mln
    Minority interests 6.6 mln debit vs 9.6 mln debit
    Extraordinary items 8.7 mln debit vs 15.7 mln credit
    Operating income includes -
    Interest income 2.49 billion vs 2.33 billion
    Interest expenses 1.77 billion vs 1.64 billion
    Other operating income 428.8 mln vs 313.2 mln
    Operating expenses include -
    Staff 405.9 mln vs 376.0 mln
    Premises and equipment 197.0 mln vs 155.2 mln
    Others 156.4 mln vs 161.5 mln
    Pretax profit includes -  North America 65.8 mln vs 49.6
mln
    Asia Pacific 0.9 mln vs 31.8 mln
    Middle East and south Asia 17.7 mln vs 2.3 mln
    Tropical Africa 47.5 mln vs 44.7 mln
    U.K. 107.6 mln vs 135.7 mln
    South Africa 36.8 mln vs 35.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14224" NEWID="8703">
<DATE>24-MAR-1987 08:34:02.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0751&#31;reute
h f BC-WORLD-BANK-CHIEF-PLED   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK CHIEF PLEDGES SUPPORT TO INDONESIA</TITLE>
<DATELINE>    JAKARTA, March 24 - </DATELINE><BODY>World Bank president Barber Conable
pledged the Bank's support to help Indonesia adjust to lower
world oil prices, but said further deregulation of its
protected economy was needed.
    Speaking to reporters after talks with President Suharto,
he said he expected Jakarta to do more to liberalise the
economy and deregulate trade policy.
    Indonesia, hurt by the fall in oil prices last year which
cut the value of its crude exports in half, is the Third
World's sixth largest debtor. It has received 10.7 billion dlrs
from the World Bank in the past 20 years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14225" NEWID="8704">
<DATE>24-MAR-1987 08:34:31.04</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;f0754&#31;reute
r f BC-KDI-&lt;KDI>-TO-BUY-TRIA   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>KDI &lt;KDI> TO BUY TRIANGLE MICROWAVE &lt;TRMW></TITLE>
<DATELINE>    EAST HANOVER, N.J., March 24 - </DATELINE><BODY>KDI Corp said it has agreed
in principle to acquire Triangle Microwave Inc for 6.50 dlrs
plus a contingent payment for each Triangle share.
    It said holders of the contingent payment units will be
entitled to receive annual payments to the extent that the
predepreciation gross profits of Triangle Microwave in each of
the years 1987 through 1991 exceed threshholds ranging from
eight mln dlrs in 1987 to 14 mln dlrs in 1991.
    The company said holders of Triangle Microwave options and
warrants will be entitled to receive the difference between
6.50 dlrs and their exercise price, plus contingent payments.
    KDI said completion of the transaction is subject to
governmental approvals and the approval of Triangle Microwave
shareholders, and the transaction is valued at over 35 mln
dlrs.
    It said shareholders of Triangle Microwave controlling
about 30 pct of the company's stock have agreed to vote in
favor of the deal and to give KDI an option to buy their shares
under certain components.
    Triangle Microwave makes microwave components.  KDI, a
diversified company, produces electronic components, technical
products and swimming pool equipment.                
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14226" NEWID="8705">
<DATE>24-MAR-1987 08:37:12.74</DATE>
<TOPICS><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0765&#31;reute
u f BC-STORM-BRINGS-HEAVY-SN   03-24 0135</UNKNOWN>
<TEXT>&#2;
<TITLE>STORM BRINGS HEAVY SNOWS TO U.S. PLAINS</TITLE>
<DATELINE>    Kansas City, March 24 - </DATELINE><BODY>The National Weather Service said a
powerful winter storm centered over north central Oklahoma was
spreading snow from western and central Kansas across much of
Nebraska to southern and eastern South Dakota.
    Rain was reported across parts of Minnesota, Iowa, eastern
Kansas, Missouri and eastern Oklahoma, with showers and a few
thundershowers extending from Arkansas through the lower
Mississippi Valley to Alabama and northwest Florida.
    Strong winds of 20 to 35 mph with some stronger gusts were
reported across much of the Plains, causing considerable
blowingand drifting snow. A blizzard warning continued this
morning across most of western Kansas. A winter storm warning
was issued this morning over central and northeast Nebraska.
    Weather advisories were posted for this morning over
central Kansas and central and southeast sections of South
Dakota where two to five inches of snow could accumulate.
    Locally heavy rains accompanied the storm over portions of
the central Plains. Flash flood watches were issued for this
morning across the eastern half of Kansas.
    A flood warning continues today for eastern Nebraska.
Widespread lowland and small stream flooding is expected to
continue over most of eastern Nebraska through Wednesday.
    Due to cold, damp and windy conditions, livestock
advisories were posted this morning across central and
southeast portions of South Dakota.
    As the storm moves north across the central Plains, winter
storm watches were issued over south central South Dakota, late
tonight and Wednesday over west central Minnesota.
    Elsewhere, a travelers advisory remains in effect this
morning over northeast New Mexico and the Oklahoma and Tecas
Panhandle for blowing snow and slick roadways and across the
mountains and deserts of southern California for strong gusty
winds of 25 to 40 mph. Gale warnings were issued for today
along the central California Coast.
    Mostly clear skies extended from the Great Lakes and Ohio
Valley through the central Appalachians to the central Atlantic
Coast and New England.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14227" NEWID="8706">
<DATE>24-MAR-1987 08:41:06.12</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;f0773&#31;reute
b f BC-/U.S.-FEB-DURABLE-GOO   03-24 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FEB DURABLE GOODS ROSE 6.0 PCT</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>New orders for durable goods
received by U.S. manufacturers rose 5.7 billion dlrs, or 6.0
pct, in February to 101.2 billion dlrs, the Commerce Department
said.
    Excluding defense, orders rose 3.8 pct, compared with a
revised January decline of 7.7 pct.
    In January, durable goods fell a revised 9.9 pct instead of
the previously reported 7.5 pct. Durables excluding defense
were reported originally as having fallen 9.9 pct in January.
    The Commerce Department on Monday revised orders statistics
for 1982 to 1986 to reflect more current inventory valuation
methods, and the February orders statistics are consistent with
the revisions, officials said.
    The February order increase was led by transportation
equipment, up 11.1 pct after an 18.0 pct decline in January.
    Orders for defense capital goods rose 48.9 pct to 6.9
billion dlrs, following a 38.8 pct decline in January.
    Non-defense capital goods orders fell 1.6 pct in February
to 26.3 billion dlrs after falling 8.7 pct in January, the
department said.
    Electrical machinery orders rose in February by 8.2 pct to
17.2 billion dlrs after falling 15.4 pct in January.
    Primary metals orders were up 13.9 pct to 8.4 billion dlrs
after a 20 pct decline in January, the department said.
    New orders for non-electrical machinery were up in February
by 3.9 pct to 16.6 billion dlrs after a three pct orders
decline in January.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14228" NEWID="8707">
<DATE>24-MAR-1987 08:41:53.00</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;f0778&#31;reute
r f BC-WOOLWORTH-SAYS-GROWTH   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>WOOLWORTH U.K. SAYS GROWTH PROSPECTS EXCITING</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Woolworth Holdings Plc &lt;WLUK.L> which
earlier announced a 1986 pre-tax profits rise of 42 pct over
1985, said its prospects for growth were very exciting.
    The profit figure of 115.3 mln stg exceeded a forecast by
some 10 pct made during the hostile bid by Dixons Group Plc
&lt;DXNS.L> last year and the company said the results were a
major step towards the aim of making Woolworth the most
profitable retailing group in the U.K.
    It aimed to produce growth from all its businesses and look
for opportunities to acquire specialist retail businesses.
    Earlier this month the group said that tentative merger
talks with the high street pharmacist &lt;Underwoods Plc> had been
called off and recently announced a 19.2 mln stg recommended
offer for &lt;Charlie Browns Car Part Centres Plc>.
    The B and Q Do it Yourself centres raised sales by 31 pct
and retail profit by 37 pct, with its pretax contribution of
45.5 mln making it the largest single component.
    The company said that the improvement had been achieved by
substantial organic growth in existing stores as well as by the
opening of a further 29 new outlets and enhanced margins.
    In other sectors, the Comet electrical chain raised retail
profits by 46 pct to 17.4 mln stg, while the Woolworth chain
reported a 120 pct improvement to 38.7 mln.
    The company said its property operations would increase
substantially following the start of a joint venture deal with
developers &lt;Rosehaugh Plc>.
    The defence costs against the 1.9 billion stg bid from
Dixons resulted in a 16.0 mln stg extraordinary charge.
    The results were 10 mln stg up on most analysts forecasts.
As a result, the group's shares rose strongly, peaking at 865p
from last night's 842p before easing to 860p at 1155 GMT.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14229" NEWID="8708">
<DATE>24-MAR-1987 08:42:35.04</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;f0782&#31;reute
u f BC-NATIONAL-SEMICONDUCTO   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL SEMICONDUCTOR CORP &lt;NSM> 3RD QTR LOSS</TITLE>
<DATELINE>    SANTA CLARA, Calif., March 24 - </DATELINE><BODY>March Eight
    Shr loss 31 cts vs loss 47 cts
    Net loss 25.6 mln vs loss 39.4 mln
    Sales 398.1 mln vs 322.3 mln
    Avg shrs 91.6 mln vs 90.0 mln
    Nine mths
    Shr loss 44 cts vs loss one dlr
    Net loss 32.7 mln vs loss 84.4 mln
    Sales 1.36 billion vs 1.08 billion
    Avg shrs 91.2 mln vs 89.6 mln
    NOTE: Twelve and 40-week periods.
    Prior year results restated for change in method of
recognizing revenue on distributor shipments.  Quarter net loss
originally reported as 32.0 mln dlrs or 38 cts shr on sales of
328.9 mln dlrs and nine mth loss as 120.3 mln dlrs or 1.40 dlrs
shr on sales of 1.11 billion dlrs.
    Prior nine mths net includes 51.2 mln dlr gain from
cumulative effect of accounting change.
    Prior year net includes extraordinary credits of 1,100,000
dlrs in quarter and 3,300,000 dlrs in nine mths.
    Current year net both periods includes 15.0 mln dlr pretax
charge from previously-announced restructuring of Datachecker
Systems and Semiconductor Group manufacturing operations.
     
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14230" NEWID="8709">
<DATE>24-MAR-1987 08:45:15.29</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0788&#31;reute
f f BC-******COMDATA-NETWORK   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COMDATA NETWORK AGREES TO HIGHER OFFER FROM WELSH CARSON ANDERSON
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14231" NEWID="8710">
<DATE>24-MAR-1987 08:48:09.16</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0799&#31;reute
u f BC-SUMITA-SAYS-BANK-WILL   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMITA SAYS BANK WILL INTERVENE IF NECESSARY</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>Bank of Japan Governor Satoshi Sumita
said in a statement the central bank will intervene in foreign
exchange markets to stabilise exchange rates if necessary in
close cooperation with other major industrial nations.
    Sumita said the Bank will take adequate measures including
market intervention, if necessary, in line with the February 22
Paris agreement by six major industrial nations.
    Canada, Britain, France, Japan, the U.S. And West Germany
agreed to cooperate in stabilising exchange rates around
current levels. Sumita's statement was issued after the dollar
slipped below 150 yen to hit a record low of 148.40.
    "It is inevitable that exchange rates fluctuate under the
system of floating rates," Sumita said.
    The fact the dollar plunged below 150 yen does not mean
anything significant under the floating system, he said.
    The six nations agreed in Paris exchange rates prevailing
then were broadly consistent with underlying economic
fundamentals and further substantial rate shifts could damage
growth and adjustment prospects in their countries, the Paris
statement said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14232" NEWID="8711">
<DATE>24-MAR-1987 08:53:03.33</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;f0802&#31;reute
b f BC-COMDATA-&lt;CDN>-ACCEPTS   03-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>COMDATA &lt;CDN> ACCEPTS NEW WELSH CARSON BID</TITLE>
<DATELINE>    NASHVILLE, Tenn., March 24 - </DATELINE><BODY>Comdata Network Inc said it
has entered into a definitive agreement to merge into a company
formed by &lt;Welsh, Carson, Anderson and Stowe IV> for either
16.50 dlrs in cash or 10.00 dlrs in cash and a unit of
securities per Comdata share.
    The company said each unit of securities would consist of
1.25 common shares in the new company and three dlrs principal
amount of the new company's 11 pct subordinated debentures due
1997.
    It said the 16.50 dlr cash alternative is an improvement
over the 15.00 dlr per share price contemplated under an
agreement in principle with Welsh Carson announced on March
Five.
    Comdata said the cash and securities alternaitcve is
subject to Welsh Carson-affiliated investors owning at least 60
pct of the stock of the new company.
    The company said investment bankers &lt;Drexel Burnham Lambert
Inc> and Alex. Brown and Sons Inc &lt;ABSB> found the proposal to
be fair from a financial point of view.
    It said the transaction is subject to approval by its
shareholders and to Welsh Carson obtaining up to 230 mln dlrs
in debt financing. Comdata said it may terminate the agreement
if financing is not arranged by April Three.
    On Thursday, First Financial Management Corp &lt;FFMC> offered
to acquire Comdata for 18.00 dlrs per share in stock and cash,
subject to approval by the Comdata board.
    Under the First Financial proposal, Comdata holders would
receive no more than four dlrs per share in cash and could
receive all stock.
    Comdata had originally planned a recapitalization under
which it would have repurchased up to six mln common shares at
14.50 dlrs each.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14233" NEWID="8712">
<DATE>24-MAR-1987 08:59:07.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0810&#31;reute
u f BC-JEFFERIES-&lt;JEFG>-SETS   03-24 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>JEFFERIES &lt;JEFG> SETS MARKETS IN THREE STOCKS</TITLE>
<DATELINE>    LOS ANGELES, March 24 - </DATELINE><BODY>Jefferies Group Inc said it is
making markets in the common stock of Conrac Corp &lt;CAX>,
American Express Co &lt;AXP> and Cyclops Corp &lt;CYL>.
    The company said the present quote on Conrac is 28 dlrs
bid, 29 dlrs offered, on American Express 79 dlrs bid, 80 dlrs
offered and on Cyclops 91 dlrs bid, 92 dlrs offered.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14234" NEWID="8713">
<DATE>24-MAR-1987 09:01:36.91</DATE>
<TOPICS><D>potato</D></TOPICS>
<PLACES><D>ireland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0816&#31;reute
d f BC-IRELAND-PUT-ON-COLORA   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>IRELAND PUT ON COLORADO BEETLE ALERT</TITLE>
<DATELINE>    DUBLIN, March 24 - </DATELINE><BODY>The Irish Agriculture Department issued
a Colorado beetle alert today after three of the beetles were
found in a box of parsley imported from France.
    Officials said a colony of the black and amber coloured
beetles can destroy a potato field in a day. The females lay up
to 2,500 eggs each.
    Some of the 80 boxes in the parsley consignment had already
been distributed to markets and the department called on all
shopkeepers and the catering trade to be on the alert.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14235" NEWID="8714">
<DATE>24-MAR-1987 09:01:51.02</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D><D>japan</D><D>uk</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0818&#31;reute
u f BC-DOLLAR-DROP-SEEN-AS-T   03-24 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>DOLLAR DROP SEEN AS TEST OF PARIS AGREEMENT</TITLE>
<AUTHOR>    By Franz-Josef Ebel, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, March 24 - </DATELINE><BODY>The sharp drop in the value of the
dollar against the yen and the mark is the first serious test
of last month's Group of Five (G-5) plus Canada agreement to
stabilise currencies, dealers and bank economists said.
    "The dollar will be pushed down until there is coordinated
central bank intervention," one dealer for a German bank said,
echoing widepread sentiment in the market.
    But opinion was divided on whether the united front forged
in Paris still exists. Some dealers said there were growing
signs the United States wanted the dollar to fall further.
    Despite repeated Bank of Japan intervention, the dollar
plunged to a post-war low in Tokyo today. It was quoted as low
as 148.40 yen in the Far East and dealers here said they
expected the U.S. Currency to decline further.
    "The dollar is now firmly within a broad 140 to 150 yen
range," Chase Bank AG's senior dealer Eckhart Hager said.
    Others said there were technical reasons for the sharp
dollar drop. "Window-dressing" operations by some Japanese
companies who were selling dollars and buying yen before the
end of the Japanese fiscal year on March 31 were undermining
the U.S. Currency.
    Dealers said main reason for the sell-off was not
technical. U.S. Treasury Secretary James Baker's comment the
Paris accord did not have fixed dollar targets was seen as a
renewed attempt by the U.S. Administration to talk the dollar
down.
    "Suddenly, support levels which had existed for fear of
central bank intervention disappeared," one dealer said.
    The Bank of Japan was believed to have bought some 1.5
billion dlrs, and this with comments by Japanese officials
indicated Tokyo was unhappy about the plunge, dealers said.
Bank of Japan governor Satoshi Sumita threatened central bank
intervention if necessary.
    Japanese Finance Minister Kiichi Miyazawa said today the
time had come for the six nations who agreed in Paris last
month to stabilise currencies - Japan, Britain, Canada, France,
the U.S. And West Germany - to take action in line with the
pact.
    But the Bundesbank and other European central banks were
not detected in the open market during the European morning.
Opinion here was divided on when the Bundesbank would act.
    While some said the West German central bank would support
the dollar once it fell below 1.80 marks, others said the
Bundesbank would only intervene after a fall below 1.75 marks
or if the decline accelerated.
    The Bundesbank last intervened on January 27, when the
dollar threatened to fall below 1.81 marks.
    "The Japanese seem to be on their own at the moment," one
dealer said. Others said cooperation between central banks and
governments was easier said than done.
    Some said Baker's remarks and U.S. Trade Representative
Clayton Yeutter's warning that the U.S. And Japan were on the
verge of a serious trade conflict showed there was a rift.
    "It's hard to tell whether the G-6 agreement still stands," a
dealer said. Another added, "If the Americans do not get what
they want, they will push the dollar down, regardless of G-6."
    Citibank AG also cast doubt on the chances of success for
the Paris agreement in its latest investment letter.
    "It is hard to see that Japan and Germany are willing or
able to loosen fiscal policy sufficiently to offset the
necessary U.S. Fiscal contraction," Citibank said.
    It added, "Markets should therefore be aware that 1.80 marks
is not the lower limit for the dollar -- a rate of 1.70 marks
or even less is expected this year."
    And London Broker Hoare Govett said in its March 1987
economic report, "We are looking for a further, more gradual,
fall, possibly to 1.60 marks by the end of the year."
    But opinion about whether the Paris accord was still in
force was not universal. Some dealers said not too much should
be read into Baker's and Yeutter's comments.
    "There is no reason to believe the Paris pact has broken
down," a senior dealer said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14236" NEWID="8715">
<DATE>24-MAR-1987 09:06:48.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0825&#31;reute
u f BC-EARTHQUAKE-STRIKES-WE   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>EARTHQUAKE STRIKES WESTERN JAPANESE COAST</TITLE>
<DATELINE>    TOKYO, March 24 - </DATELINE><BODY>A strong earthquake registering a
preliminary reading of 6.5 on the Richter scale was felt on the
coast northwest of Tokyo today, the Central Meteorological
Agency said.
    There were no immediate reports of damage or injuries but
the agency issued a seismic wave warning on the coast between
Niigata Prefecture, northwest of Tokyo, and Noto Peninsula, to
the west. The epicentre of the tremor was located in the Sea of
Japan far off Niigata, it said.
    The tremor was felt as far away as Yokohama, south of
Tokyo, and Hamamatsu on the Pacific coast.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14237" NEWID="8716">
<DATE>24-MAR-1987 09:09:29.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0833&#31;reute
u f BC-TRANSNATIONAL-INDUSTR   03-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>TRANSNATIONAL INDUSTRIES &lt;TRSL> SEES LOSS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Transnational Industries Inc said due
to continuing manufacturing difficulties at its AlloyTek Inc
jet engine component subsidiary, it expects to report a net
loss of about 300,000 dlrs or 12 cts per share for the fourth
quarter ended January 31.
    It said revenues for the period were about 11.9 mln dlrs,
about even with those of a year earlier.
    For the full fiscal year, the company said it earned about
775,000 dlrs or 34 cts per share, down from 1,402,000 dlrs or
76 cts per share a year before.
    The company said an unexpectedly large volume of customer
inquiries at its Spitz Inc simulation products subsidiary has
caused higher than expected business development outlays.
    The company said it expects significant contract awards to
Spitz later this year.
    It said it has started implementing a plan to progressively
reduce manufacturing costs at AlloyTek over the next several
quarters.  The company said it may move AlloyTek's plant from
Grandville, Mich., to a lower labor cost area.
    The company said it discovered the extent of the AlloyTek
problems during a year-end review of subcontracts and related
work in progress for production of jet engine components for
General Electric Co &lt;GE>.
    It said it will release annual results around April 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14238" NEWID="8717">
<DATE>24-MAR-1987 09:12:14.20</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;f0844&#31;reute
u f BC-GREAT-WESTERN-&lt;GWF>-S   03-24 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT WESTERN &lt;GWF> SELLS INSURANCE UNIT</TITLE>
<DATELINE>    BEVERLY HILLS, Calif., March 24 - </DATELINE><BODY>Great Western Financial
Corp said it agreed to sell its John Alden Life Insurance Co
and its affiliated operations for 280 mln dlrs to a
newly-formed company onwed by the John Alden Management Group.
    General Electric Credit Corp delivered a commitment letter
arranged by the GECC Capital Markets Group Inc for the
financing.
    Great Western said the pre-tax gain on the sale will be
approximately 65 mln dlrs, and after tax gain will be 
approximately 15 mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14239" NEWID="8718">
<DATE>24-MAR-1987 09:14:26.58</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;f0849&#31;reute
r f BC-central-capital-sets   03-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL CAPITAL SETS 100 MLN DLR SHARE ISSUE</TITLE>
<DATELINE>    HALIFAX, Nova Scotia, March 24 - </DATELINE><BODY>&lt;Central Capital Corp>
said it filed a final prospectus in all provinces for a 100 mln
dlr offering of 7-5/8 pct cumulative redeemable retractable
senior preferred shares, series A.
    Net proceeds will be used to expand financial intermediary
activities of the Central Capital group of companies and for
general corporate purposes, it said.
    Underwriters are Wood Gundy Inc, Dominion Securities Inc
and Midland Doherty Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14240" NEWID="8719">
<DATE>24-MAR-1987 09:14:37.67</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;f0850&#31;reute
r f BC-bce-development-plans   03-24 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BCE DEVELOPMENT PLANS PREFERRED SHARE OFFERING</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 24 - </DATELINE><BODY>&lt;BCE Development
Corp>, 69 pct owned by Bell Canada Enterprises Inc &lt;BCE>, said
it filed a preliminary prospectus for an issue of cumulative
redeemable retractable class A preference shares, series I, and
the offering is expected to be made in early April.
    It did not elaborate on the amount or price of the issue.
    The company said the shares will carry a special dual
currency feature that will provide a hedge against a decline in
value of the Canadian dollar against the U.S. dollar.
    Holders will be able to elect receiving dividend payments,
paid at a set rate, in either currency.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14241" NEWID="8720">
<DATE>24-MAR-1987 09:14:45.00</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;f0851&#31;reute
d f BC-associated-porcupine   03-24 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>ASSOCIATED PORCUPINE FUNDING ACCORD TERMINATED</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>&lt;Associated Porcupine Mines Ltd> said
its September 22, 1986 agreement with Quill Resources Ltd, for
Quill to provide certain funding, has been terminated.
    Under the agreement, Quill was to provide funding for a
three phase program to place Associated Porcupine's Paymaster
gold property at Timmins, Ontario into commerical production,
the company said without further elaborating.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14242" NEWID="8721">
<DATE>24-MAR-1987 09:16:39.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0855&#31;reute
u f BC-MONOCLONAL-ANTIBODIES   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>MONOCLONAL ANTIBODIES &lt;MABS> ORDER BARS SALES</TITLE>
<DATELINE>    MOUNTAIN VIEW, Calif., March 24 - </DATELINE><BODY>Monoclonal Antibodies Inc
said a a district court has decided to grant a motion by
Hybritech Inc, a unit of Eli Lilly and Co &lt;LLY>, preventing the
sale of certain Monoclonal products.
    The products, including Ovustick Self-Test and Advance, a
pregnancy test, account for 80 pct of Monoclonal sales, the
biotechnology company said.
    The products are made by Monoclonal and marketed by Ortho
Pharmaceutical Corp, a unit of Johnson and Johnson &lt;JNJ>.
    The products were named in lawsuits dating back to 1984,
the company said.
    Documents will be filed within 10 days for the judge to
issue a preliminary injunction, which should become effective
after the filing, the company said.
    The company is evaluating the impact of the injunction on
its operations. "While we're of course extremely disappointed
by the court's decision, we will continue development efforts
on products not subject to a potential infringement ruling,
particularly diagnostic tests for drugs of abuse and sexually
transmitted diseases," the company said in a statement.
    The company hopes to have the new products available for
sale late this year or early next year, it said.
    In the meantime, it will focus efforts on marketing
products not affected by the injunction and designing other
products, it added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14243" NEWID="8722">
<DATE>24-MAR-1987 09:16:49.65</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;f0857&#31;reute
r f BC-sterivet-sets   03-24 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>STERIVET &lt;STVTF> SETS THREE-FOR-ONE SHARE SPLIT</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>Sterivet Laboratories Ltd said the
board authorized a three-for-one split of its outstanding
common shares, subject shareholder approval at the annual
meeting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14244" NEWID="8723">
<DATE>24-MAR-1987 09:19:03.33</DATE>
<TOPICS><D>money-fx</D><D>interest</D><D>money-supply</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0863&#31;reute
r f BC-SPAIN-RAISES-CALL-MON   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN RAISES CALL MONEY RATES ON HIGHER DEMAND</TITLE>
<DATELINE>    MADRID, March 24 - </DATELINE><BODY>The Bank of Spain raised overnight call
money rates by 1/4 to 14 pct on demand for 746 billion pesetas
in today's auction, which a bank spokesman termed "heavy."
    Rates stood at 12.1 pct at the start of the year and have
been increased to drain liquidity on rising demands for funds,
the spokesman said.
    He said in reply to Reuters inquiries that rates could rise
further if money supply growth rose above this year's eight pct
target for M-4, defined as liquid assets in public hands.
    Money supply rose at an annualised rate of 16.7 pct last
month against 8.1 pct in January. Growth was 11.4 pct in 1986.
    A leading Spanish broker said the central bank was applying
a more restrictive policy to keep the lid on inflation.
    The consumer price index rose 8.3 pct last year.
    "Money supply control is the government's chief weapon
against inflation," he said. "The problem is higher rates are
attracting liquidity from abroad."
    He said this was why the central bank enacted specific
measures to control the inflow of foreign capital. The Bank of
Spain earlier this month imposed a 19 pct reserve requirement
on new convertible peseta funds held by banks to curb
short-term speculative capital from abroad.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14245" NEWID="8724">
<DATE>24-MAR-1987 09:22:07.21</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;f0875&#31;reute
r f BC-campbell-red-lake-div   03-24 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>CAMPBELL RED LAKE &lt;CRK> SETS QUARTERLY DIVIDEND</TITLE>
<DATELINE>    TORONTO, March 24 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay May 25
    Record April 20
    Note: Canadian funds
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14246" NEWID="8725">
<DATE>24-MAR-1987 09:25:08.54</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D><D>usa</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0883&#31;reute
u f BC-GATT-ROUND-MAY-STOP-G   03-24 0142</UNKNOWN>
<TEXT>&#2;
<TITLE>GATT ROUND MAY STOP GROWING TRADE PROBLEMS: U.S.</TITLE>
<DATELINE>    TAUPO, New Zealand, March 24 - </DATELINE><BODY>A successful new GATT
(General Agreement on Tariffs and Trade) round is needed to
halt growing bilateral trade problems between major trading
partners, U.S. Trade Representative Clayton Yeutter said.
    Yeutter, in New Zealand for informal GATT ministerial
talks, told Reuters bilateral trade disputes are increasing
because the multilateral system is inefficient.
    "That is really a strong rationale why we need a new GATT
round," he said. "The very existence of all these bilateral
irritants clearly emphasises the need to develop multilateral
solutions to some of these problems."
    The eighth GATT round of negotiations was launched at Punta
del Este in Uruguay in September 1986. Agriculture and services
were included in the negotiations for the first time.
    The growing debt burden of Latin American and African
nations will also provide impetus for the GATT round to
succeed, he said. "Clearly those countries need to develop their
export endeavours and they need open markets for that to happen
and that's the basic objective of the new GATT round."
    But he said the GATT round is a long term endeavour. It
will not give any short term relief for debt ridden countries,
but it will make a difference in 10 to 15 years.
    "It's a worthwhile activity from their standpoint because
these debts are not going to go away in the next year or two,"
he said.
    "They ought to be very strongly supported in the GATT round
as a mechanism for relieving their debt burdens or making
possible debt amortisation in the future," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14247" NEWID="8726">
<DATE>24-MAR-1987 09:28:36.24</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0891&#31;reute
r f BC-BELGIAN-MARCH-CONSUME   03-24 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN MARCH CONSUMER PRICES RISE</TITLE>
<DATELINE>    BRUSSELS, March 24 - </DATELINE><BODY>Belgian consumer prices rose 0.11 pct
in March from February to stand 1.27 pct above the level in
March 1986, the Economic Affairs Ministry said in a statement.
    It said the consumer price index, base 1981, rose to 132.83
points from 132.69 in February and 131.17 in March 1985.
    Year-on-year inflation stood at 1.00 pct in February and at
1.53 pct in March 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14248" NEWID="8727">
<DATE>24-MAR-1987 09:30:32.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0894&#31;reute
d f PM-YUGOSLAVIA 1STLD-(WRITETHROUGH)  03-24 0140</UNKNOWN>
<TEXT>&#2;
<TITLE>YUGOSLAVIA CHANGES CONTROVERSIAL WAGE-FREEZE LAW</TITLE>
<DATELINE>    BELGRADE, March 24 - </DATELINE><BODY>The Yugoslav government has decided to
amend a wage-freeze law that triggered nationwide strikes and
led the Prime Minister to threaten to use troops if the unrest
threatened the ruling Communist Party.
    The law, which returned wages to the average levels of the
last quarter of 1986, triggered a huge wave of strikes and
labor unrest throughout Yugoslavia and a chorus of disapproval
from company bosses and union officials. Some 70 strikes by
thousands of workers erupted nationwide.
    The official Tanjug news agency reported last night the
government said the law, initially covering all firms in the
country, would be amended for seasonal industries and for
companies which raised wages "rationally" last year. It did not
say what the amendments would be.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14249" NEWID="8728">
<DATE>24-MAR-1987 09:32:41.79</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;f0905&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-24 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN FURTHER 104 MLN STG HELP</TITLE>
<DATELINE>   LONDON, March 24 - </DATELINE><BODY>The Bank of England said it provided the
money market with assistance of 104 mln stg in the afternoon
session.
    This takes the bank's total help so far today to 219 mln
stg and compares with its estimate of a 300 mln stg shortage.
    The central bank bought outright 104 mln stg in bank bills
in band two at 9-13/16 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14250" NEWID="8729">
<DATE>24-MAR-1987 09:33:40.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0911&#31;reute
u f BC-BRAZIL'S-BANKWORKERS   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL'S BANKWORKERS LAUNCH NATIONAL STRIKE</TITLE>
<DATELINE>    SAO PAULO, March 24 - </DATELINE><BODY>Most of Brazil's 700,000 bankworkers
began an indefinite national strike, union leaders said, as the
country's labour troubles showed no signs of easing.
    A national seamen's strike which began on February 27 is
still continuing, despite a partial return to work.
    A spokesman at the bankworkers' national strike
headquarters in Sao Paulo, Lucio Cesar Pires, told Reuters that
about 500,000 of Brazil's 700,000 bankworkers were on strike.
    He said that many private banks were working, particularly
in Sao Paulo, Rio de Janeiro and Porto Alegre.
    The bankworkers, one of the best-organized sectors of
Brazil's labour force, are striking for a 110 pct pay rise.
    Pires said the strike had closed the state-controlled Banco
do Brasil, which has more than 3,000 branches.
    Brazil's current labour troubles stems from the collapse of
the government's price freeze and the return of high inflation.
    According to official figures, prices rose by 33 pct in
just the first two months of the year.
    Other strikes are being threatened, including national
stoppages by 450,000 social workers and 50,000 university
teachers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14251" NEWID="8730">
<DATE>24-MAR-1987 09:38:04.03</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0921&#31;reute
u f BC-PRINCEVILLE-&lt;PVDC>-GE   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>PRINCEVILLE &lt;PVDC> GETS LETTER OF CREDIT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>&lt;Qintex Ltd> of Brisbane said &lt;Westpac
Banking Corp> of Australia has issued a commitment letter to
provide Princeville Development Corp with the letter of credit
required under Qintex's proposed acquisition of Princeville.
    The letter of credit would ensure payment of Princeville's
contingent subordinated notes to be distributed to shareholders
of record on the day immediately following completion of
Qintex's tender for 3,300,000 Princeville share. It said
issuance of the letter of credit is still subject to conditions
including appropriate documentation, but the letter is expected
to be issued around April Three.
    Qintex said as a result it has extended its tender offer
for Princeville shares until April Three.
    It said through yesterday it had received 7,424,292 shares
under the offer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14252" NEWID="8731">
<DATE>24-MAR-1987 09:39:24.31</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0928&#31;reute
r f BC-ADVANCED-COMPUTER-TEC   03-24 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>ADVANCED COMPUTER TECHNIQUES &lt;ACTP> YEAR NET</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Shr 41 cts vs 30 cts
    Net 700,000 vs 526,000
    Revs 15.2 mln vs 14.7 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14253" NEWID="8732">
<DATE>24-MAR-1987 09:39:50.65</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;f0929&#31;reute
r f BC-NEWS-CORP-&lt;NWS>-UNIT   03-24 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWS CORP &lt;NWS> UNIT CORRECTS DIVIDEND RATE</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>News Corp Ltd's Fox Television
Stations Inc subsidiary said it will pay an accrued dividend of
5.44 dlrs per share, not the 5.83 dlrs it reported earlier, in
connection with the April 15 redemption of 230,000 shares of
increasing rate exchangeable guaranteed preferred stock for
1,000 dlrs per share plus accrued dividends.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14254" NEWID="8733">
<DATE>24-MAR-1987 09:39:59.32</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;f0930&#31;reute
s f BC-MCRAE-INDUSTRIES-&lt;MRI   03-24 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>MCRAE INDUSTRIES &lt;MRI-A> INCREASES PAYOUT</TITLE>
<DATELINE>    MT GILEAD, N.C., March 24 - </DATELINE><BODY>McCrae Industries Inc said it
raised its preferred dividend on its Class A common stock to 12
cts per share from 11 cts per share.
    It said the dividend was payable April 20, 1987, to
shareholders of record April 6.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14255" NEWID="8734">
<DATE>24-MAR-1987 09:40:32.43</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f0931&#31;reute
r f BC-COLUMBIA-FIRST-&lt;CFFS>   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>COLUMBIA FIRST &lt;CFFS> TAKES OVER BANK</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Columbia First Federal Savings and
Loan Association said it has acquired the insured deposits of
first Federal of Maryland, based in Hagerstown, from the
Federal Savings and Loan Insurance Corp and reopend First
Federal's six former offices as Columbia First branches.
    The Federal Home Loan Bank Board had closed First Federal
on March 20 because it was insolvent.  First Federal had assets
of 115.2 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14256" NEWID="8735">
<DATE>24-MAR-1987 09:44:09.10</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0939&#31;reute
b f BC-/N.Y.-DEALERS-BELIEVE   03-24 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Y. DEALERS BELIEVE FED INTERVENED TO BUY DLRS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>The Federal Reserve appears to have
intervened in the U.S. foreign exchange market to buy dollars
against yen this morning, currency dealers said.
    They said the intervention occurred near the dollar's early
low of 148.50 yen and the U.S. currency subsequently firmed to
149.05/15. It closed at 150.00/05 on Monday.
    Dealers were uncertain of the amount involved and whether
the Fed's purchases were for its own account or for a customer.
But there was speculation that it may have been done in
conjunction with the Bank of Japan. Tokyo dealers said the
Japanese central bank bought dollars in Tokyo earlier today.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14257" NEWID="8736">
<DATE>24-MAR-1987 09:49:25.72</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;f0961&#31;reute
r f BC-CHARMING-SHOPPES-INC   03-24 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>CHARMING SHOPPES INC &lt;CHRS> RAISES QUARTERLY</TITLE>
<DATELINE>    BENSALEM, Pa., March 24 -
    </DATELINE><BODY>Qtly div three cts vs 2-1/2 cts prior
    Pay April 15
    Record April Six
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14258" NEWID="8737">
<DATE>24-MAR-1987 09:49:52.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0963&#31;reute
u f BC-METROPOLITAN-FINANCIA   03-24 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>METROPOLITAN FINANCIAL &lt;MFC> CLOSING 6 BRANCHES</TITLE>
<DATELINE>    FARGO, N.D., March 24 - </DATELINE><BODY>Metropolitan Financial Corp said
its Metropolitan Federal Bank subsidiary will close six North
Dakota branches effective April 17, 1987, in an effort to
streamline its operations.
    Deregulation of the industry has made the bank holding
company's extensive branch network, "somewhat costly and
impractical," it said.
    Metropolitan, with assets of more than two billion dlrs,
said it is confident it can continue to serve the financial
needs of those customers affected by the closings.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14259" NEWID="8738">
<DATE>24-MAR-1987 09:49:59.33</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;f0964&#31;reute
r f BC-ANGELICA-CORP-&lt;AGL>-4   03-24 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>ANGELICA CORP &lt;AGL> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    ST. LOUIS, MO., March 24 -
    </DATELINE><BODY>Shr 47 cts vs 40 cts
    Net 4,399,000 vs 3,768,000
    Sales 76.6 mln vs 68.0 mln
    Year
    Shr 1.79 dlrs vs 1.84 dlrs
    Net 16,701,000 vs 17,159,000
    Sales 291.7 mln vs 269.1 mln
    NOTE: FiscaL 1987 year based on 53 weeks compared wqith 52
weeks a year earlier.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14260" NEWID="8739">
<DATE>24-MAR-1987 09:50:04.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0965&#31;reute
d f BC-CHARMING-SHOPPES-&lt;CHR   03-24 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>CHARMING SHOPPES &lt;CHRS> PLANS NEW STORES</TITLE>
<DATELINE>    BENSALEM, Pa., March 24 - </DATELINE><BODY>Charming Shoppes Inc said it
expects to open over 155 new stores -- including its first
stores in Kansas, Louisiana and Oklahoma -- and remodel or
expand another 80 during 1987.
    The company said it expects to open about 75 new stores by
the end of June, which would bring its total store count at
that time to 753.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14261" NEWID="8740">
<DATE>24-MAR-1987 09:50:10.23</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;f0966&#31;reute
d f BC-GULL-INC-&lt;GLL>-3RD-QT   03-24 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>GULL INC &lt;GLL> 3RD QTR FEB 28 NT</TITLE>
<DATELINE>    SMITHTOWN, N.Y., March 24 -
    </DATELINE><BODY>Shr 22 cts vs 14 cts
    Net 917,000 vs 553,000
    Sales 16.1 mln vs 13.6 mln
    Avg shrs 4,195,000 vs 4,090,000
    Nine mths
    Shr 70 cts vs 29 cts
    Net 2,852,000 vs 1,086,000
    Sales 49.2 mln vs 40.7 mln
    NOTE: Prior nine mths net includes gain 250,000 dlrs from
insurance payment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14262" NEWID="8741">
<DATE>24-MAR-1987 09:50:17.41</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;f0967&#31;reute
d f BC-AMERIANA-SAVINGS-BANK   03-24 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERIANA SAVINGS BANK &lt;ASBI> 4TH QTR NET</TITLE>
<DATELINE>    NEW CASTLE, Ind., March 24 -
    </DATELINE><BODY>Shr not given
    Net 328,000 vs 99,000
    Year
    Shr not given
    Net 1,694,000 vs 998,000
    NOTE: Company went public in February 1987.
    Net includes pretax loan loss recovery 41,000 dlrs vs
provision 50,000 dlrs in quarter and provisions 135,000 dlrs vs
50,000 dlrs in year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14263" NEWID="8742">
<DATE>24-MAR-1987 09:50:26.98</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;f0969&#31;reute
h f BC-GRIFFIN-TECHNOLOGY-IN   03-24 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>GRIFFIN TECHNOLOGY INC &lt;GRIF> 4TH QTR NET</TITLE>
<DATELINE>    VICTOR, N.Y., March 24 - </DATELINE><BODY>Ended Jan 31
    Shr loss one ct vs loss eight cts
    Net loss 25,800 vs loss 157,100
    Revs 2,323,500 vs 1,930,400
    Year
    Shr profit 19 cts vs profit four cts
    Net profit 401,100 vs profit 93,100
    Revs 10.3 mln vs 8,807,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14264" NEWID="8743">
<DATE>24-MAR-1987 09:52:26.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>hungary</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0973&#31;reute
r f BC-HUNGARY-DETAILS-TAX-R   03-24 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>HUNGARY DETAILS TAX REFORMS FOR 1988</TITLE>
<DATELINE>    BUDAPEST, March 24 - </DATELINE><BODY>Value added tax (VAT) and personal
income tax are to be introduced next year, alongside price
reform and a modified wage system, the official Hungarian news
agency MTI said in its Weekly Bulletin.
    A draft act divides goods into three groups for VAT. Most
will be taxed at 20 pct, although basic foods, urban transport,
fuel, pharmaceuticals and probably homes and building materials
will be zero-rated. Non-basic services will be taxed at 10 pct.
    Several other taxes will be abolished when VAT comes in
next January 1 and the effect will be to cut producer prices by
between five and 10 pct, MTI said.
    Consumer prices will rise by about eight pct as result of
cuts in subsidies, including those on milk and dairy products,
MTI said. It did not say what effect the VAT would have.
    Basic changes in company taxation were necessary as varying
taxes and subsidies gave a confusing picture, and minor steps
taken so far had only improved things temporarily.
    MTI said inefficient firms were still being maintained at
the expense of efficient ones, whose profit incentive was
blunted by an average profit tax of 80 pct. The idea was to
give all ventures equal chances and eliminate distinctions.
    "Valid preferences or supports are to be withdrawn, or at
least reduced," MTI said.
    The tax changes will be a further step in a recent line of
economic reforms designed to boost company efficiency.
    Management of 75 pct of all state enterprises passed from
ministries to elected enterprise councils in 1985 and 1986, and
a bankruptcy law in force since last September limits the duty
of the state to save loss-making firms.
    MTI said yesterday state subsidies to enterprises and
industrial cooperatives rose 16 pct last year, while profits
rose 4.6 pct. It gave no absolute figures.
    The number of small private ventures rose 4,000 to 39,000
in 1986. Their turnover rose 27.5 pct and net income 16.2 pct.
They now employ 443,000, nine pct of the workforce.
    Hungarians now pay no tax on their primary income, and
relaxation of central economic controls has led to large
disparities in earnings, almost entirely in the private sector.
    MTI said the introduction of personal income tax for all
workers would lead to a fairer bearing of the public burden. It
gave no details of the tax structure except to say that it
would be progressive and embrace all legal income.
    All measures are due to go before parliament this summer.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14265" NEWID="8744">
<DATE>24-MAR-1987 09:53:43.24</DATE>
<TOPICS><D>ship</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D><D>honduras</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G L
&#22;&#22;&#1;f0974&#31;reute
r f BC-HONDURAS-SEEKS-PL480   03-24 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>HONDURAS SEEKS PL480 VESSELS FOR TALLOW DELIVERY</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Honduras will tender March 26 under
PL480 for U.S. and non-U.S. flag vessels to import 1,500 tonnes
of tallow in bulk, an agent for the country said.
    The agent said delivery includes laydays of April 5-15.
    Offers are due by 1200 hrs EST, March 26, and will remain
valid until the close of business the following day, the agent
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14266" NEWID="8745">
<DATE>24-MAR-1987 09:59:25.47</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;f0987&#31;reute
u f BC-PETRIE-STORES-CORP-&lt;P   03-24 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>PETRIE STORES CORP &lt;PST> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    SECAUCUS, N.J., March 24 -
    </DATELINE><BODY>Shr 90 cts vs 97 cts
    Shr diluted 82 cts vs 88 cts
    Net 42.1 mln vs 43.0
    Revs 379.3 mln vs 352.7 mln
    Avg shrs 46.8 mln vs 44.3 mln
    Avg shrs diluted 52.6 mln vs 50.0 mln
    Year
    Shr 1.58 dlrs vs 1.81 dlrs
    Shr diluted 1.50 dlrs vs 1.76 dlrs
    Net 73.7 mln vs 77.9 mln
    Revs 1.20 billion vs 1.16 billion
    Avg shrs 46.8 mln vs 43.0 mln
    Avg shrs diluted 52.6 mln vs 45.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14274" NEWID="8746">
<DATE>24-MAR-1987 10:00:16.07</DATE>
<TOPICS><D>retail</D><D>jobs</D><D>gnp</D><D>inventories</D><D>trade</D><D>cpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V A
&#22;&#22;&#1;f0993&#31;reute
r f BC-/U.S.-ECONOMY-SHOWS-P   03-24 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ECONOMY SHOWS PROMISING SIGNS OF GROWTH</TITLE>
<AUTHOR>    By Donna Smith, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The U.S. economy is showing some
promising signs of accelerated expansion despite the
sluggishness of the fourth quarter last year, private
economists say.
    Some of the slowness experienced in the October-December
period had been expected to spill over into the first quarter
this year, as the tax law changes that went into effect in
January slowed business and consumer spending.
    But some of the latest economic data show signs of
surprising strength in the U.S. economy, although some
economists remain cautious about the outlook.
    The Commerce Department reported today that new orders for
durable goods in February jumped by 5.7 billion dlrs, a six pct
rise, to 101.2 billion dlrs. Even excluding volatile defense
goods, durable goods orders rose a healthy 3.8 pct, the agency
said.
    The February numbers surpassed the expectations of many
financial analysts, whose predictions ranged from flat to
increases of up to five pct.
    The January/February employment statistics suggest the
Gross National Product will show a healthy rate of growth for
the first three months of this year, said Lyle Gramley, an
economist with the Mortgage Bankers Association.
    The U.S. jobless rate in February and January was 6.7 pct,
the lowest rate since March 1980. The number of new non-farm
jobs rose by 337,000 in February after a 319,000 gain in
January and a 225,000 December increase, the government said.
    The employment data suggests a GNP annual growth rate of
about three to 3.25 pct in the first quarter, said Gramley.
    Much of that will be attributed to businesses rebuilding
their inventories and is not likely to be sustained in the
second quarter, Gramley said. He expects a slowdown in the
second quarter with smaller increases in personal consumption
and government spending. He also sees residential construction
declining mostly for multi-family housing units.
    Fidelity Bank senior economist Mickey Levy said some of the
fourth quarter slowness will continue.
    Levy predicts GNP will grow at a scant 1.5 pct rate in the
first quarter of 1987, accelerate during the second quarter and
show a brisk 4.5 pct annual rate in the third quarter.
    The key to both forecasts is a marked improvement in the
U.S. trade balance which is expected because of the decline in
the dollar's value over the last year and half.
    "The improvement will be gradual and long lasting," Levy
predicted. Most of it will be through import reduction, but at
least one-third will be due to a rise in product exports as the
prices of U.S. goods become more attractive overseas.
    The Reagan administration has predicted the trade deficit,
which soared to record levels last year, will improve this year
and the U.S. economy will grow by a respectable 3.2 pct for the
year compared with a 2.5 pct rate last year.
    As part of the effort to reduce the trade deficit, the U.S.
has been pressing West Germany and Japan to stimulate their
domestic demand for goods from the U.S. and others.
    U.S. officials believe that would help take some of the
pressure off the United States whose five years of economic
growth has been the mainstay of developing countries.
    The U.S. economy provided them with a giant market for
their goods giving them a way to earn income badly needed to
service their foreign debt.
    The government last week said the U.S. economy grew at a
modest 1.1 pct annual rate during the fourth quarter.
    There were indications of improvement in the huge imbalance
between the volume of goods imported to the United States and
those shipped abroad. The report showed a rising volume of
exports corresponding to a decline in imports despite the fact
that in current dollar terms, the U.S. trade deficit worsened
during the closing three months of 1986.
    While fourth quarter economic growth was weak, corporate
profits jumped a healthy 6.1 pct during the period, the
government said. It also reported that inflation, as measured
by the GNP price deflator, remained in check, growing a
moderate 0.7 pct in the period, the lowest rise in 19 years.
    The government also reported that consumer spending, a key
element of the five year economic recovery, jumped 1.7 pct in
February, after falling two pct in January.
    The Federal Reserve Board also reported that the
manufacturing sector, which had been one of the weaker elements
of the U.S. economy, was showing signs of recovery.
    In its latest report on current economic conditions, the
Fed said that economic activity in the various regions of the
country ranged from uneven or steady to improving.
Manufacturing activity showed signs of improvement in most
regions except Dallas where orders remained sluggish.
    Chase Econometrics Chairman Lawrence Chimerine said the
pick up in the U.S. manufacturing sector is largely due to the
drop in the dollar's value. He said he does not foresee a major
pick up in economic activity, but does not believe the economy
will slip into recession either.
    He said higher prices on imported products and wage cuts
that have helped the manufacturing sector will squeeze
consumers purchasing power.
    "That pattern is starting and will continue for a number of
years," Chimerine said. He sees economic growth hovering around
a modest two pct level for the next few years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14267" NEWID="8747">
<DATE>24-MAR-1987 10:02:23.98</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1000&#31;reute
u f BC-INDONESIA-URGED-TO-DE   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA URGED TO DEREGULATE ITS ECONOMY</TITLE>
<DATELINE>    JAKARTA, March 24 - </DATELINE><BODY>World Bank President Barber Conable
linked increased borrowing by Indonesia, the Third World's
sixth largest debtor, to fresh measures to deregulate trade and
dismantle protectionist barriers.
    "We would like to see the Indonesian government continue the
adjustment process ... To move towards increased deregulation
of the economy," Conable told a press conference at the end of a
three-day visit to Jakarta.
    Conable directly linked further Bank help for Indonesia's
hard-pressed balance of payments to further measures by the
government to reduce protectionism and increase efficiency.
    The World Bank last month granted Indonesia a 300 mln dlr
trade adjustment loan. He said further loans would depend on
the economic policies Indonesia adopted.
    But he said that in meetings with both President Suharto
and leading Indonesian ministers he had not called for specific
policy changes.
    "The initiative will have to rest with the Indonesian
government. We are not here to dictate to them," he stated.
    Indonesia, the only Asian member of Opec, has been badly
hit by last year's slump in oil prices which cut its revenues
from crude exports in half.
    Conable had what he termed a frank meeting this morning
with Suharto.
    He voiced support for measures already taken, including
September's 31 pct devaluation of the rupiah, and efforts to
deregulate imports and stimulate exports.
    "The government can rely on the support of the World Bank in
a continuing program of adjustment to the economic realities of
today's world," he said.
    The Bank has loaned Indonesia 10.7 billion dlrs over the
past 20 years. Lending is now about one billion a year.
    The World Bank would probably like to see further
dismantling of tarrif barriers and measures to reduce
Indonesia's protected monopolies in areas like steel, plastics
and cement, western bankers and diplomats said.
    The government has already said it will announce further
deregulation measures, but has given no timetable. It is also
considering selling off loss-making state companies.
    Conable said the Bank would try to help Indonesia find
funds to cover its share of development projects, which
otherwise would have to be scrapped or postponed. Japan's Ex-Im
bank announced a 900 mln dlr untied credit last month.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14268" NEWID="8748">
<DATE>24-MAR-1987 10:09:37.11</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;f1026&#31;reute
d f BC-ARGYLL-SELLS-SUBSIDIA   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGYLL SELLS SUBSIDIARY'S ASSETS FOR 14 MLN STG</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Food and drink retailer Argyll Group Plc
&lt;AYLL.L> said it has agreed to sell its U.K. Subsidiary &lt;George
Morton Ltd> to &lt;Seagram United Kingdom Ltd> for about 14 mln
stg in cash.
    The consideration for Morton's fixed assets, stocks,
debtors and goodwill is payable on completion of the sale. The
disposal will bring Argyll an extraordinary credit of some 8.4
mln stg.
    Argyll added the agreements also depend on an indication
from the U.K. Office of Fair Trading by June 23 that the sale
will not be referred to the Monopolies Commission. Argyll
shares were up 12p to 440, firming before the announcement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14269" NEWID="8749">
<DATE>24-MAR-1987 10:09:56.01</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>usa</D><D>iran</D><D>kuwait</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1028&#31;reute
u f BC-IRAN-WARNS-U.S.-NOT-T   03-24 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN WARNS U.S. NOT TO INTERVENE IN THE GULF</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The speaker of the Iranian Parliament,
Hojatoleslam Akbar Hashemi Rafsanjani, warned the U.S. Not to
intervene in the Gulf, a day after Washington said its warships
were available to escort Kuwaiti tankers through the waterway.
    "If U.S. Intervention occurs, the entire world will become
insecure for the Americans and the events of Lebanon could be
repeated for the Americans everywhere," he said.
    U.S. Defence officials disclosed in Washington yesterday
that the U.S. Navy, which has about 24 warships in or near the
Gulf, was prepared to escort Kuwaiti tankers, regular targets
for Iranian attacks in an offshoot of its war with Iraq.
    Rafsanjani, in an interview reported by the Iranian news
agency IRNA, also commented on earlier U.S. Disclosures that
Iran had erected sites for new Chinese-made Silkworm
anti-shipping missiles at the Strait of Hormuz.
    The agency, received in London, quoted him as saying that
Iran did not need missiles to close the strait, 24 miles wide
at its narrowest, because "we can close it with artillery only."
    He added "We have the longest coasts and the highest
interest here and the small southern (Gulf) states have a
lesser interest compared with us and therefore it is natural
for us to protect the security of the Strait of Hormuz more
than others."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14270" NEWID="8750">
<DATE>24-MAR-1987 10:11:21.17</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;f1034&#31;reute
d f BC-VALLEN-CORP-&lt;VALN>-3R   03-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>VALLEN CORP &lt;VALN> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    HOUSTON, March 24 -
    </DATELINE><BODY>Shr 24 cts vs 33 cts
    Net 347,000 vs 469,000
    Sales 16.5 mln vs 14.0 mln
    Nine mths
    Oper shr 93 cts vs 94 cts
    Oper net 1,327,000 vs 1,342,000
    Sales 48.8 mln vs 34.5 mln
    NOTE: Current nine mths net excludes 756,000 dlr gain from
termination of pension plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14271" NEWID="8751">
<DATE>24-MAR-1987 10:11:45.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1036&#31;reute
u f BC-CONTROL-DATA-&lt;CDA>-AN   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTROL DATA &lt;CDA> ANNOUNCES NEW COMPUTER</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Control Data Corp said it is offering
its first departmental computer, the CYBER 1809 model 930.
    It also announced enhanced versions of its CDCNET
Communications Network, NOS/VE virtual operating system and
IM/VE information management system.
    Control Data also said all systems operate with the CYBER
930 system.
    The company said the CYBER 930 is available in two models.
Both are said to deliver two to three times the input-output
capability. The 930-11 model is priced at 59,900 dlrs, and the
930-31, is priced at 125,900 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14272" NEWID="8752">
<DATE>24-MAR-1987 10:14:32.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>ase</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1044&#31;reute
u f BC-DUTCH-TO-SET-UP-EXCHA   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH TO SET UP EXCHANGES WATCHDOG BODY</TITLE>
<DATELINE>    AMSTERDAM, March 24 - </DATELINE><BODY>Stock, options and futures trading
bodies are to set up the first umbrella watchdog body to
improve self-regulation, officials said at a press conference.
    They said a Coordinating Commission for the Securities
Trade (CCE) will be set up June 1 to coordinate supervision and
improve efficiency in response to legislation and competition
from foreign markets, mainly London.
    "The Dutch exchanges have to speak with one voice," Amsterdam
Stock Exchange spokesman Boudewijn van Ittersum said, noting
self-regulation could prevent harsh government supervision.
    The government plans to beef up supervisory laws of
financial markets during the current cabinet period to 1990, to
fight malpractice like insider trading.
    Under the agreement struck between securities, options and
futures traders, the CCE will coordinate their independent
supervisory bodies in a first step towards a single watchdog.
    "The SEC is a government regulatory body, while we are
developing an institution coming from the market," Westerterp
said.
    Van Ittersum noted despite SEC supervision, U.S. Markets
had seen several bourse scandals and added "The self-regulatory
function of the business is vital."
    Under the markets' agreement, the official price list of
the Amsterdam Stock Exchange will also include comprehensive
price listings of the options exchange and the Amsterdam Gold
Futures market from April 3. The latter two will end their own
price list publications.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14273" NEWID="8753">
<DATE>24-MAR-1987 10:15:24.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1050&#31;reute
r f BC-&lt;TIFFANY-AND-CO>-TO-G   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TIFFANY AND CO> TO GO PUBLIC</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Tiffany and Co said it has filed for
an initial public offering of four mln shares, including two
mln to be sold by shareholders, at an expected price of 21 to
23 dlrs per share.
    The company said the offering is expected to be made in
late April or early May, with 3,200,000 shares being sold
domestically through underwriters led by American Express Co's
&lt;AXP> Shearson Lehamn Brothers Inc and &lt;Goldman, Sachs and Co>
and the remainder are to be offered internationally, with the
same lead underwriters.  It said it has applied for New York
Stock Exchange listing.
    Tiffany, a retailer of fine jewelry and gift items, said
proceeds of the offering would be used to repay debt.
    Tiffany had been publicly traded previously until a 1979
acquisition by Avon Products Inc &lt;AVP>.  In October 1984, a
group of investors acquired Tiffany from Avon in a leveraged
buyout.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14275" NEWID="8754">
<DATE>24-MAR-1987 10:16:22.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1055&#31;reute
b f BC-HOECHST-UNIT-ISSUING   03-24 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>HOECHST UNIT ISSUING 130 MLN SWISS FRANC BOND</TITLE>
<DATELINE>    ZURICH, March 24 - </DATELINE><BODY>Hoechst Invest NV, a Dutch finance
subsidiary of Hoechst AG of West Germany, is issuing a 130 mln
Swiss franc five pct bond, lead manager Credit Suisse said.
    The par-priced, 14-year is guaranteed by Hoechst AG.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14276" NEWID="8755">
<DATE>24-MAR-1987 10:16:52.60</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1057&#31;reute
u f BC-SHELL-TO-DECLARE-NORW   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL TO DECLARE NORWAY'S DRAUGEN FIELD COMMERCIAL</TITLE>
<DATELINE>    STAVANGER, Norway, March 24 - </DATELINE><BODY>&lt;A/S Norske Shell>, Royal
Dutch/Shell Group's &lt;RD.AS> Norwegian subsidiary, said it has
nearly concluded a 10 billion crown development scheme for
Norway's Draugen oil field and will declare the field
commercial in the near future.
    Pending government approval of the scheme, the field could
come on stream in 1992, making it Norway's northermost field
development and the first such project on the Haltenbanken
tract off central Norway.
    Work on the project could begin as early as January 1988, a
Shell spokesman said.
    Shell has not released projected output levels for the
field, where water depth is 240-270 meters.
    The spokesman said the field's partners have agreed to
develop Draugen with a 300-meter, single-leg concrete
gravity-base platform.
    The scheme also proposes using remote subsea production
wells to tap the field's reservoir, estimated to contain 375
mln barrels of oil, and an offshore buoy-loading system to
transport oil from the field by ship.
    Partners on Draugen are Shell, the operator, with a 30 pct
stake, British Petroleum Co Plc &lt;BP.L> unit &lt;BP Petroleum
Development (Norway) Ltd> (20 pct) and state-owned Den Norske
Stats Oljeselskap A/S &lt;STAT.OL> (Statoil) (50 pct).
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14277" NEWID="8756">
<DATE>24-MAR-1987 10:17:02.38</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1058&#31;reute
d f BC-BOND-CORP-HAS-NO-COMM   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BOND CORP HAS NO COMMENT ON ALLIED SPECULATION</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Bond Corp Holdings Ltd  &lt;BONA.S> of
Australia said it had no comment on an article in a London
evening newspaper speculating on its plans for a bid approach
to U.K. dDrinks and food giant Allied Lyons Plc &lt;ALLD.L>.
    Tony Oates, Bond Corp's Executive Director for Finance and
Administration, said "The company does not comment on market
rumors or press conjecture." He added in all instances of this
kind problems are likely to arise whatever is said.
    Allied's shares were 3p up at 401p, which values the
company at around 2.75 billion stg.
    London stock market analysts specializing in brewery shares
viewed a bid from Bond, which they said has assets of around
two billion stg, as highly unlikely.
    They added that rumours of a possible bid for Allied have
surfaced from time to time in the press and the London equity
market ever since last year's thwarted approach from Elders IXL
Ltd &lt;ELXA.S> of Australia.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14278" NEWID="8757">
<DATE>24-MAR-1987 10:19:10.74</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1069&#31;reute
b f BC-S.-AFRICA-GOLD-MINING   03-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>S. AFRICA GOLD MINING INDUSTRY HAD RECORD YEAR</TITLE>
<DATELINE>    JOHANNESBURG, March 24 - </DATELINE><BODY>The gold mining industry had
another "exceptional year" in 1986 with tonnage milled, revenues
and profits reaching high levels, the Chamber of Mines said.
    Nearly 108 mln tons of ore was milled, three pct higher
than the prior year, while revenues rose 17 pct to 16.5 billion
rand and profits increased 6.5 pct to 8.31 billion rand, the
Chamber reported.
    The profit rise was achieved despite substantial cost
increases and a 26.1 pct rise in capital expenditures to 2.42
billion rand, it said.
    The chamber said that a "comparatively buoyant gold price
allowed mines to continue the practise of mining lower grade
ores which has characterised recent years."
    It said the industry now mines to an average grade of 5.63
grams per ton compared with 6.09 grams per ton in 1985.
    Gold output for the year declined five pct to 638 tons
compared with the previous year's 671 tons.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14279" NEWID="8758">
<DATE>24-MAR-1987 10:20:05.28</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1075&#31;reute
f f BC-******CLAREMONT-TELLS   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CLAREMONT TELLS SEC IT SEEKS 15 PCT CHAMPION PRODUCTS STAKE, TWO BOARD SEATS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14280" NEWID="8759">
<DATE>24-MAR-1987 10:22:40.06</DATE>
<TOPICS><D>grain</D><D>rice</D><D>corn</D><D>cotton</D><D>wheat</D><D>sorghum</D><D>barley</D><D>oat</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1082&#31;reute
u f BC-/RICE,-CORN-LEAD-1987   03-24 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>RICE, CORN LEAD 1987 U.S. FARM PAYMENTS - USDA</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Rice and corn farmers will receive
the largest payments from the U.S. government during 1987 if
the subsidies are calculated per planted acre, the U.S.
Agriculture Department said.
    USDA said government outlays to rice farmers in 1987 are
expected to reach 403 dlrs per acre planted, followed by corn
at 135 dlrs per planted acre. Government outlays include mainly
deficiency payments and price support loans.
    On a per acre basis, cotton payments will reach 73.24 dlrs
in 1987, wheat 60.30 dlrs, sorghum 54.38 dlrs, barley 27.41
dlrs and oats 2.31 dlrs, USDA said.
    USDA estimates farm subsidies will reach 25.3 billion dlrs
in 1987. The figures were given by USDA officials at a Senate
Agriculture Appropriations hearing yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14281" NEWID="8760">
<DATE>24-MAR-1987 10:23:06.75</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;f1084&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-24 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN 10 MLN STG LATE ASSISTANCE</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The Bank of England said it provided the
money market with late help of about 10 mln stg.
    This takes the bank's total help today to some 229 mln stg
and compares with its forecast of a 300 mln stg shortage.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14282" NEWID="8761">
<DATE>24-MAR-1987 10:24:51.57</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;f1088&#31;reute
d f BC-VOLVO-GROUP-COMPANY-P   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLVO GROUP COMPANY PROPOSES TWO-FOR-FIVE ISSUE</TITLE>
<DATELINE>    STOCKHOLM, March 24 - </DATELINE><BODY>&lt;AB Catena>, in which AB Volvo
&lt;VOLV.ST> has a 48 pct stake, said it was proposing a
two-for-five stock issue that will raise the company's equity
capital to 420 mln crowns from 300 mln.
    Catena reported profits after financial income and costs up
to only 231 mln crowns from 207 mln in 1985, despite an
increase in sales to 8.54 billion crowns from 5.59 billion in
1985.
    The company said that its 1986 performance was best
reflected by earnings after writeoffs, which rose to 310 mln
from 221 mln in 1985.
    Catena's increase in sales was mainly due to the takeover
of Safveans AB in February 1986, which changed the business
profile of Catena. It had principally operated as a Volvo
dealer. With the Safveans acquisition it is now mainly a
trading and industrial company.
    In December 1986 Catena sold its share in the stockbroking
firm Jacobson och Ponsbach Fondkommission AB. This yielded a
profit of 386.7 mln crowns and was reflected in Catena's
pre-tax earnings which rose to 724 mln crowns from 204 mln in
1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14283" NEWID="8762">
<DATE>24-MAR-1987 10:27:57.75</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1096&#31;reute
b f BC-******MOODY'S-AFFIRMS   03-24 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S AFFIRMS RATINGS OF CHRYSLER AND UNITS, AFFECTS 12 BILLION DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14284" NEWID="8763">
<DATE>24-MAR-1987 10:32:32.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1113&#31;reute
b f BC-BRAZIL'S-BANKWORKERS   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL'S BANKWORKERS LAUNCH NATIONAL STRIKE</TITLE>
<DATELINE>    SAO PAULO, March 24 - </DATELINE><BODY>Most of Brazil's 700,000 bankworkers
began an indefinite national strike, union leaders said, as the
country's labour troubles showed no signs of easing.
    A national seamen's strike which began on February 27 is
still continuing, despite a partial return to work.
    A spokesman at the bankworkers' national strike
headquarters in Sao Paulo, Lucio Cesar Pires, told Reuters that
about 500,000 of Brazil's 700,000 bankworkers were on strike.
    He said that many private banks were working, particularly
in Sao Paulo, Rio de Janeiro and Porto Alegre.
    The bankworkers, one of the best-organized sectors of
Brazil's labour force, are striking for a 100 pct pay rise.
    Pires said the strike had closed the state-controlled Banco
do Brasil, which has more than 3,000 branches.
    Brazil's current labour troubles stems from the collapse of
the government's price freeze and the return of high inflation.
    According to official figures, prices rose by 33 pct in
just the first two months of the year.
    Other strikes are being threatened, including national
stoppages by 450,000 social security workers and 50,000
university teachers.
    In central Sao Paulo dozens of armed military police stood
guard outside branches of the Banco do Brasil to preempt any
move by bankworkers to occupy the buildings.
    A bank official in one foreign bank, which was still open
this morning, said that with the closure of the Banco do Brasil
private banks would not be able to function much longer.
    He said: "If the Banco do Brasil closes it shuts down the
whole system. I think that after lunch we will have to stop."
    Groups of strikers marched in the central commercial
district, waving banners and stopping outside private banks to
chant slogans.
    Pires said the strike call had been largely ignored by
workers in the private banks, with many branches open
particularly in Sao Paulo, Rio de Janeiro and Porto Alegre.
    Television reports said that in the southern state of
Parana farmers protesting against high interest rates supported
the bankworkers.
    As they have done many times over the past few weeks, they
blockaded the entrances of private banks with farm machinery.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14285" NEWID="8764">
<DATE>24-MAR-1987 10:36:29.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1136&#31;reute
u f BC-INDONESIAN-FOREIGN-DE   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIAN FOREIGN DEBTS MANAGEABLE, CONABLE SAYS</TITLE>
<DATELINE>    JAKARTA, March 24 - </DATELINE><BODY>Indonesia's foreign debts are a cause
for concern, but remain within manageable limits, World Bank
President Barber Conable said.
    He told a press conference before leaving for Tokyo that
Indonesia's rising debt-service ratio was a problem and cause
for concern. But he said it was not necessarily due to
imprudent borrowing and "it is still within an area of being
manageable."
    The bank estimates Indonesia has total foreign debts of
around 37 billion dlrs. The debt service ratio has risen to a
projected 33 pct for fiscal 1987/88, from 25 pct in 1986/87
ending March 31.
    Anything above 20 pct is considered high by bankers.
    Conable said the decline in world oil prices and the rise
in the value of the Japanese yen had increased the ratio by
reducing Indonesian exports and raising its debt repayments.
    Indonesian debt servicing of 6,760 billion rupiah takes up
almost one third of the 1987/88 budget.
    Payment on the principal of government debts is officially
projected at 2.73 billion dlrs in 1987/88 against 2.11 billion
in 1986/87.
    Conable linked an increase in World Bank lending to
Indonesia to implementation of further economic policy reforms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14286" NEWID="8765">
<DATE>24-MAR-1987 10:37:56.90</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>herrington</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1146&#31;reute
r f BC-U.S.-ENERGY-SECRETARY   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ENERGY SECRETARY OPTIMISTIC ON INCENTIVES</TITLE>
<DATELINE>    HOUSTON, March 24 - </DATELINE><BODY>U.S. Department of Energy Secretary
John Herrington said he was "optimistic" about the chances of
providing a more generous depletion allowance for oil and gas
producers, but added that the plan faces strong opposition from
some members of the Reagan administration.
    Herrington, speaking to Houston oil executives at a
breakfast meeting, said administration debate over his plan for
a 27.5 pct annual depletion allowance was "heavy and strong"
largely because of some fears that the U.S. oil industry could
eventually become as dependent on federal subsidies as the
agriculture industry.
    Herrington's proposed tax incentives for the oil industry
were issued last week after the Department of Energy released a
comprehensive report finding U.S. national security could be
jeopardized by rising oil imports.
    In response to a question from Mitchell Energy and
Development Corp &lt;MND> chairman, George Mitchell, Herrington
said the report did not definitively rule out an oil import
tarrif. "We intend to keep that debate open," Herrington said.
    However, following his speech, Herrington told Reuters that
the new report shows an oil import fee "is not economical."
    Herrington said, for example, a 10 dlr per barrel tariff on
oil imports would cause the nation's gross national product to
drop by as much as 32 billion dlrs.
    Herrington also said he believed President Reagan, who
requested the comprehensive national security study, was
committed to some action to help the ailing U.S. oil industry.
    "I'm quite confident he understands the problems and is
prepared to do something about it," Herrington said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14287" NEWID="8766">
<DATE>24-MAR-1987 10:40:36.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1158&#31;reute
u f BC-DIGITAL-EQUIPMENT-&lt;DE   03-24 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>DIGITAL EQUIPMENT &lt;DEC> ANNOUNCES PRODUCTS</TITLE>
<DATELINE>    BOSTON, March 24 - </DATELINE><BODY>Digital Equipment Corp announced 18
computer-aided manufacturing products which it said reinforces
its integrated manufacturing offerings. 
    Digital predsident Kenneth Olsen told reporters that the
company now offers a full range of systems, applications and
services for its manufacturing customers based on its popular
VAX computer operating system.
    Among the products announced today are eight industrial
computer systems based on Digital's Microvax II and PDP 11
computers. 
    The company also introduced products that linked its
various measurement and control devices to its computer systems
and a commitment to support the manufacturing automated
protocol standard endorsed by General Motors Corporation.
    GM is attempting to get all computer manufacturing vendors
to support the MAP standard so that equipment for different
manufacturers will work together on the factory floor. 
    The new products will be available immediately with some
beginning first delivery in July.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14288" NEWID="8767">
<DATE>24-MAR-1987 10:41:05.07</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;f1161&#31;reute
u f BC-COMMERCIAL-METALS-CO   03-24 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMERCIAL METALS CO &lt;CMC> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    DALLAS, March 24 -
    </DATELINE><BODY>Shr 23 cts vs 34 cts
    Net 2,091,000 vs 3,053,000
    Revs 203.5 mln vs 215.7 mln
    Avg shrs 8,967,719 vs 8,863,945
    1st half
    Shr 40 cts vs 69 cts
    Net 3,616,000 vs 6,111,000
    Revs 411.8 mln vs 418.1 mln
    Avg shrs 8,958,100 vs 8,850,656
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14289" NEWID="8768">
<DATE>24-MAR-1987 10:41:20.86</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;f1162&#31;reute
u f BC-GEO.-A.-HORMEL-&lt;HRL>   03-24 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>GEO. A. HORMEL &lt;HRL> VOTES TWO-FOR-ONE SPLIT</TITLE>
<DATELINE>    AUSTIN, MINN., March 24 - </DATELINE><BODY>Geo. A. Hormel and Co said its
directors voted a two-for-one split, payable June one, record
April 18.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14290" NEWID="8769">
<DATE>24-MAR-1987 10:42:01.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE><D>fernandez</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1167&#31;reute
u f BC-PHILIPPINE-CENTRAL-BA   03-24 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE CENTRAL BANKER FACES CORRUPTION CHARGES</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    MANILA, March 24 - </DATELINE><BODY>A government-appointed special
prosecutor has ordered the filing of corruption charges over
the closure of a private bank against Philippine central bank
governor Jose Fernandez, who said he would contest the charges.
    Ombudsman Raul Gonzalez told Reuters there was evidence to
indicate that Fernandez had misused his office in ordering the
closure of &lt;Pacific Banking Corp> in July, 1985.
    He said the charges against Fernandez would be filed "within
the week" in a special court for corruption cases, adding that a
defendant could appeal against a ruling in the Supreme Court.
    Fernandez is in New York for talks with the Philippines'
creditor banks on rescheduling about 9.4 billion dlrs of the
country's foreign debt.
    A central bank statement quoted Fernandez as saying Pacific
Bank's closure and sale were in accordance with law.
    "Fernandez said that some points may have been missed in the
appreciation of the case for which reason he will be filing a
motion for reconsideration of the (Ombudsman's) resolution," the
statement said.
    Central bank sources said the statement was drafted after
Fernandez and senior deputy governor Gabriel Singson, who is in
Manila, conferred on the telephone.
    Gonzalez said his office ordered the charges filed after
hearing submissions by Fernandez and plaintiff Paula Paug, the
president of Pacific Bank's Employees Union.
    In her complaint, Paug said Fernandez had acted arbitrarily
in ordering the closure of Pacific Bank and placing it under
receivership without giving the bank the right to appeal,
throwing hundreds of employees out of work.
    Paug also said Fernandez had not withdrawn his stockholding
in Far East Bank and Trust Company, which took over Pacific
Bank's assets, when he became central bank governor in January,
1984. Fernandez founded Far East in 1960.
    She alleged Fernandez had misused his position by
appointing two Far East bank executives to central bank
consultancies, giving them access to Pacific Bank records. She
also disputed Fernandez' interpretation of Pacific's accounts
from January 1980 to May 1985, claiming the bank had made a
profit, not a loss.
    The central bank statement quoted Fernandez as stressing
that Pacific Bank was "repeatedly given notice of the continuing
losses of the bank and the immediate need of putting up
additional capital to eliminate insolvency."
    It said the central bank tried to assist in a bid by Bank
of Hawaii and Philippine sugar trader Antonio Chan to purchase
Pacific Bank, but the negotiations collapsed "because of certain
legal impediments."
    The statement said the central bank invited several banks
to submit offers for Pacific, and the sale to Far East was
approved by the Monetary Board and not by Fernandez alone.
    Fernandez was also quoted in the statement as saying he had
divested himself of all interests in Far East Bank when he
became central bank governor. A Far East Bank spokesman
declined comment on the charges against Fernandez.
    In a footnote to a 12-page resolution recommending
prosecution against Fernandez, Gonzalez said prima facie
evidence of misuse of power also existed against all the then
members of the country's Monetary Board, as well as the Far
East executives, and ordered their investigation.
    He said Fernandez's action fitted in with the political
climate during former President Ferdinand Marcos's final years.
    "(The) prevailing mood of the day for those in high offices
was either to imitate the penchant of then President Marcos and
his wife, to run roughshod over the human rights of citizens
... Or to follow blindly or with canine devotion any
instructions from above," Gonzalez wrote.
    Gonzalez, named to his post 11 months ago, said his office
had received more than 4,000 complaints of misuse of power. He
said among those facing prosecution were five provincial
governors appointed by President Corazon Aquino.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14291" NEWID="8770">
<DATE>24-MAR-1987 10:43:45.27</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;f1177&#31;reute
r f BC-consolidated-bathurst   03-24 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATED-BATHURST TO BUY BACK SOME SHARES</TITLE>
<DATELINE>    MONTREAL, March 24 - </DATELINE><BODY>&lt;Consolidated-Bathurst Inc> said it
proposes to acquire up to five mln of its common shares, or
five pct of the total outstanding on March 2, at prevailing
market prices on the Toronto and Montreal Stock Exchanges
between April 10, 1987 and April 9, 1988.
    &lt;CB Pak Inc>, 80 pct owned by Consolidated-Bathurst, said
it proposes to acquire up to 200,000 of its common shares and
up to 45,000 of its common share purchase warrants at
prevailing market prices on the exchanges between June 1, 1987
and May 31, 1988. The amounts represent one pct of outstanding
common shares and 4.8 pct of outstanding common warrants.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14292" NEWID="8771">
<DATE>24-MAR-1987 10:44:26.47</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;f1181&#31;reute
b f BC-CLAREMONT-TO-BOOST-CH   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CLAREMONT TO BOOST CHAMPION PRODUCTS &lt;CH> STAKE</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Claremont Group Ltd, a New York
investment banking firm, said it intends to boost its current
10 pct stake in Champion Products Inc to as much as 15 pct of
the total outstanding common stock.
    Claremont added that it asked Champion to put two
representatives on its nine-member board of directors.
    Claremont previously disclosed in December that it had
agreed to act in concert with Walsh, Greenwood and Co, an
affiliated investment firm, to acquire Champion Products.
    Claremont said it made net purchases of 7,800 Champion
Products shares between Jan. 28 and March 18.
    In a March 20 letter to Champion Chairman John Tanis,
Claremont and Walsh representatives Stephen Walsh and John
Cirigliano said they were pleased with the company's
performance but wanted to take an active management role.
    "We believe that Champion Products has just begun to evolve
into the market leader it will eventually become," they said. "As
significant shareholders with mutual interests with the
company, we would like to actively participate in this process."
    Claremont's intentions and the letter were made public in a
filing with the federal Securities and Exchange Commission.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14293" NEWID="8772">
<DATE>24-MAR-1987 10:45:03.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1185&#31;reute
r f BC-WANG-&lt;WAN>-IN-SOFTWAR   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>WANG &lt;WAN> IN SOFTWARE INTEGRATION AGREEMENT</TITLE>
<DATELINE>    LOWELL, Mass., March 24 - </DATELINE><BODY>Wang Laboratories Inc said it
entered into a development and marketing agreement with
Sterling Software's &lt;SSW> Answer Systems Inc, aimed at
integrating its data base product with Answer's mainframe
database access tool.
    Wang said the purpose of the projects is to offer Wang VS
users direct access to information in DB2, IMS, and WSAM files
residing on IBM (R) and IBM-compatible mainframes.
    Wang said it will integrate its PACE product with Answer's
System's Answer/DB (R).
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14294" NEWID="8773">
<DATE>24-MAR-1987 10:45:13.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1187&#31;reute
r f BC-HOUSEHOLD-INT'L-&lt;HI>   03-24 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSEHOLD INT'L &lt;HI> TO REPURCHASE MORE SHARES</TITLE>
<DATELINE>    PROSPECT HEIGHTS, Ill., March 24 - </DATELINE><BODY>Household International
Inc said it plans to repurchase up to 100 mln dlrs of its
common stock, continuing the stock buyback program it began
last year.
    Household said it would repurchase the shares in open
market or private transactions at times it deems appropriate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14295" NEWID="8774">
<DATE>24-MAR-1987 10:47:05.50</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;f1189&#31;reute
b f BC-MOODY'S-AFFIRMS-CHRYS   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S AFFIRMS CHRYSLER &lt;C> AND UNIT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Moody's Investors Service Inc said it
affirmed the ratings on 12 billion dlrs of debt of Chrysler
Corp and its unit, Chrysler Financial Corp.
    The agency cited potential benefits of Chrysler's proposed
acquisition of American Motors Corp &lt;AMO> to its business
position and marketing and distribution capabilities.
    Moody's said it believes the acquisition will be carried
out substantially as currently structured. Affirmed were
Chrysler's Baa-1 senior debt and Chrysler Financial's Baa-1
senior debt, Baa-2 senior subordinated debt and Baa-3 junior
subordinated debt.
    Also affirmed were the Prime-2 commercial paper of
Chrysler's finance arm and the Baa-1 guaranteed Eurobonds of
Chrysler Credit Canada Ltd.
    Moody's pointed out the purchase of AMC would undercut some
of the recent progress Chrysler has made in improving its
financial condition and cost structure. The agency noted that
Chrysler would assume substantial debt and unfunded pension
liabilities, as well as two inefficient production facilities.
    But, Moody's said, the negative effect on Chrysler's
profitability and cash flow would be temporary. Meanwhile,
AMC's B-1 preferred stock remains under Moody's review.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14296" NEWID="8775">
<DATE>24-MAR-1987 10:47:45.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1193&#31;reute
b f BC-CORRECTION---ZURICH--   03-24 0056</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - ZURICH - CREDIT SUISSE
    Please read in item "CREDIT SUISSE FREEZES ACCOUNTS IN
INSIDER PROBE" second para reference to position of Nahum
Vaskevitch as "...Former managing director of the mergers and
acquisitions department of the London office of Merrill Lynch
and Co..."  instead of "former head of the london office...."
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14297" NEWID="8776">
<DATE>24-MAR-1987 10:48:13.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1198&#31;reute
r f BC-XOMA-CORP-&lt;XOMA>-FILE   03-24 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>XOMA CORP &lt;XOMA> FILES FOR OFFERING</TITLE>
<DATELINE>    BERKELEY, Calif., March 24 - </DATELINE><BODY>XOMA Corp said it intends to
file for an offering of 1,300,000 common shares.
    The company now has about 8,721,000 shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14298" NEWID="8777">
<DATE>24-MAR-1987 10:49:10.18</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;f1203&#31;reute
d f BC-&lt;SHELL-U.K.-LTD>-YEAR   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;SHELL U.K. LTD> YEAR 1986</TITLE>
<DATELINE>    LONDON, March 24 -
    </DATELINE><BODY>Sales proceeds 6.57 billion stg vs 8.81 billion
    Duty and value added tax 1.84 billion vs 1.60 billion
    Net proceeds 4.73 billion vs 7.21 billion
    Net profit 757 mln vs 667 mln
    Average capital employed 3.63 billion vs 3.71 billion
    Capital and exploration expenditure 644 mln vs 618 mln
    Cash surplus 423 mln vs 584 mln.
    NOTE - Company is wholly owned subsidiary of Royal
Dutch/Shell Group &lt;RD.AS>
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14299" NEWID="8778">
<DATE>24-MAR-1987 10:49:21.55</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;f1204&#31;reute
u f BC-CYCLOPS-&lt;CYL>-SAYS-DI   03-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CYCLOPS &lt;CYL> SAYS DIXONS AGREEMENTS BINDING</TITLE>
<DATELINE>    PITTSBURGH, March 24 - </DATELINE><BODY>Cyclops Corp said that as it has
already stated, its agreements with &lt;Dixons Group PLC> are
binding and Dixons will not rescind or waive any provisions of
the agreements.
    The company said its agreement to merge into Dixons does
not permit it to provide nonpublic information to &lt;CYACQ>,
which is making a competing offer for Cyclops, that had been
provided to Dixons.
    It said other provisions Dixons will not waive include its
rights to recover breakup fees or expenses from Cyclops or buy
Cyclops common shares from Cyclops.
    Cyclops noted that Dixons' waiver of rights to breakup fees
or the purchase of common stock directly from Cyclops and the
provision of nonpublic information to CYACQ are conditions to
CYACQ's increased 92.50 dlr per share offer to acquire Cyclops
shares.
    Dixons is tendering for Cyclops shares at 90.25 dlrs a
share.  Yesterday Citicorp &lt;CCI>, with Audio/Video Affiliates
Inc &lt;AVA> an owner of CYACQ, said it had offered to acquire
from Dixons after the merger of Cyclops into Dixons Cyclops'
industrial businesses for 12.8 mln dlrs more than Alleghany
Corp &lt;Y> is currently scheduled to pay for them.
    Citicorp said yesterday that its proposal would allow
Dixons to raise its tender price to 93.25 dlrs per share. 
Citicorp said if Dixons accepted the proposal, CYACQ would
terminate its competing offer for Cyclops.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14300" NEWID="8779">
<DATE>24-MAR-1987 10:49:38.62</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1206&#31;reute
f f BC-******FIREMAN'S-FUND   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FIREMAN'S FUND SUBPOENAED BY SEC ON AMERICAN EXPRESS STOCK SALE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14301" NEWID="8780">
<DATE>24-MAR-1987 10:49:57.60</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;f1208&#31;reute
r f BC-&lt;J.M.-RESOURCES-INC>   03-24 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;J.M. RESOURCES INC> IN MERGER AGREEMENT</TITLE>
<DATELINE>    DENVER, March 24 - </DATELINE><BODY>J.M. Resources Inc said it has acquired
a 90 pct interest in DEI Acquisition Corp from InterFirst
Venture Corp, Sam B. Myers, Neomar Resources Inc and Richard L.
Morgan, all of Dallas, for warrants to acquire 10.1 mln shares
of J.M. stock and three mln dlrs of notes.
    The warrants are exercisable at par value, currently 10 cts
per share, until March 20, 1997.  The company said if the
warrants were exercised in full, they would represent a 40.7
pct interest in J.M. common stock.  It said amounts due under
the notes are payable soleley from proceeds of the sale of
securities by J.M. and non-oil and natural gas revenues of DEI.
    J.M. said DEI provides specialty insulation installation
and asbestos removal services.
    J.M. said all of its directors except Jack E. Manning Jr.
have resigned and Myers and Morgan were named to the board.
    It said Manning has resigned as president in favor of Myers
and will service as vice president in charge of oil and natural
gas operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14302" NEWID="8781">
<DATE>24-MAR-1987 10:50:25.41</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1211&#31;reute
r f BC-ASTROTECH-&lt;AIX>-DIREC   03-24 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>ASTROTECH &lt;AIX> DIRECTOR BUYS COMPANY STOCK</TITLE>
<DATELINE>    PITTSBURGH, March 24 - </DATELINE><BODY>Astrotech International Corp said
its director S. Kent Rockwell, who controls Rockwell Venture
Capital Inc, will buy 27 pct of the company's cumulative
preferred stock.
    It said will buy up to 302,300 shares of Astrotech's 1.80
dlrs cumulative preferred stock.
    It said the shares are owned by W.F. Rockwell Jr, chairman
and chief executive officer of Astrotech and S. Kent Rockwell's
father.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14303" NEWID="8782">
<DATE>24-MAR-1987 10:54:35.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM A
&#22;&#22;&#1;f1226&#31;reute
b f BC-/FIREMAN'S-FUND-&lt;FSC>   03-24 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>FIREMAN'S FUND &lt;FSC> SUBPOENAED BY SEC</TITLE>
<DATELINE>    GREENWICH, Conn., March 24 - </DATELINE><BODY>Fireman's Fund Corp said it
has been subpoenaed by the Securities and Exchange Commission
in connection with the previously announced investigation into
the secondary public offering of its stock by American Express
Co on May 9, 1986.
    Fireman's Fund said it is cooperating with the SEC.
    Last week, American Express Co, its Shearson Lehman
Brothers Inc unit, and Salomon Inc's Salomon Brothers unit were
subpoenaed for records pertaining to a secondary offering of
Fireman's Fund stock.
    Fireman's Fund had been a wholly owned subsidiary of
American Express and now is less than 30 pct owned by the
finanancial services giant.
    Shearson, lead manager of the underwriting, and Salomon,
co-manger, were also subpoenaed for documents pertaining to
Jefferies and Co.
    Last week, Boyd Jefferies, former chairman of Jefferies and
Co, settled charges with the Securities and Exchange Commission
that alleged he violated securities laws, including market
manipulation.
    The transaction described in SEC documents pertaining to 
market manipulation charges mentioned a secondary offering of
the stock of a company, which was held by another company.
    The documents alleged Jefferies, at the request of a second
person, took actions to drive the stock price up before the
offering.
    The losses to the Jefferies firm were allegedly covered, at
the request of the second person, by sending a fake invoice to
a third person.
    An American Express spokesman said James Robinson, American
Express chairman, has said the firm knows of no wrong doing by
anyone at the firm.
    American Express retained two law firms to carry out an
internal investigation.
    American Express, Shearson and Salomon all said they would
cooperate with the investigation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14304" NEWID="8783">
<DATE>24-MAR-1987 10:55:50.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1230&#31;reute
r f BC-NORTHERN-TELECOM-&lt;NT>   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHERN TELECOM &lt;NT> IN PACT WITH U.S. FIRM</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>Northern Telecom Ltd said it signed a
two-year supply agreement with U S West Materiel Resources Inc
that could lead to up to 300 mln U.S. dlrs of business.
    It said the agreement provided terms under which it can
supply its DMS digital switching systems and related equipment
to U S West's three information distribution companies
consisting of Mountain Bell, Pacific Northwest Bell and
Northwestern Bell.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14305" NEWID="8784">
<DATE>24-MAR-1987 10:56:30.69</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;f1233&#31;reute
r f BC-AMERICAN-CYANAMID-&lt;AC   03-24 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CYANAMID &lt;ACY> CHANGES RECORD DATE</TITLE>
<DATELINE>    WAYNE, N.J., March 24 - </DATELINE><BODY>American Cyanamid Co said subject
to approval by its board it has changed the record date for the
quarterly dividend it will pay on June 26 to May 8 from May 29
to coincide with the record date for a two-for-one stock split
that was declared at the same time.
    The dividend on a post-split basis is 26-1/4 cts per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14306" NEWID="8785">
<DATE>24-MAR-1987 10:57:15.50</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;f1236&#31;reute
s f BC-PNEUMATIC-SCALE-CO-&lt;P   03-24 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>PNEUMATIC SCALE CO &lt;PNU> SETS QUARTERLY</TITLE>
<DATELINE>    NORTH QUINCY, Mass., March 24 -
    </DATELINE><BODY>Qtly div 25 cts vs 25 cts prior
    Pay May 4
    Record April 20
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14307" NEWID="8786">
<DATE>24-MAR-1987 11:00:14.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1247&#31;reute
u f BC-FORD-&lt;F>-CREDIT-UNIT   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> CREDIT UNIT SELLS NOTES AT 8.13 PCT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Ford Motor Credit Co, a unit of Ford
Motor Co, is raising 200 mln dlrs via an offering of notes due
1997 yielding 8.13 pct, said sole manager Salomon Brothers.
    The notes have an eight pct coupon and were priced at
99.125 to yield 88 basis points over comparable Treasuries.
    That matches the spread over Treasuries for the finance
unit's equal-sized, same-maturity offering on January 6 that
was priced to yield 7.948 pct. This deal was rated A-2 by
Moody's and AA-minus by Standard and Poor's.
    Non-callable for five years, today's issue is rated A-1 by
Moody's and AA-minus by S and P.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14308" NEWID="8787">
<DATE>24-MAR-1987 11:00:38.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1249&#31;reute
u f BC-AMER-SIGNS-50-MLN-DOL   03-24 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>AMER SIGNS 50 MLN DOLLAR MULTICURRENCY LOAN</TITLE>
<DATELINE>    HELSINKI, March 24 - </DATELINE><BODY>Finland's business group Amer-Yhtyma
Oy &lt;YHTY.HE> said it has signed a 50 mln dlr, six-year
syndicated multicurrency loan with a group of 15 international
and four Finnish banks led by Citicorp Investment Bank Ltd.
    Amer said in a statement the loan would be used mainly to
convert its overseas currency loans and expand business, but
gave no further details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14309" NEWID="8788">
<DATE>24-MAR-1987 11:00:52.25</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;f1251&#31;reute
r f BC-CURTICE-BURNS-FOODS-I   03-24 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>CURTICE-BURNS FOODS INC &lt;CBI> RAISES PAYOUT</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 24 -
    </DATELINE><BODY>Qtly div 26 cts vs 24 cts prior
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14310" NEWID="8789">
<DATE>24-MAR-1987 11:01:01.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1252&#31;reute
h f BC-LYPHOMED-&lt;LMED>-TO-MA   03-24 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>LYPHOMED &lt;LMED> TO MARKET WOUND DRESSING</TITLE>
<DATELINE>    ROSEMONT, ILL., March 24 - </DATELINE><BODY>LyphoMed Inc said it agreed to
market an antiseptic transparent wound dressing made by Hercon
Laboratories, a subsidiary of Health-Chem Corp &lt;HCH>.
    The dressing has been approved by the Food and Drug
Administration for use as an intravenous catheter securement
device and as a protective dressing for wounds, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14311" NEWID="8790">
<DATE>24-MAR-1987 11:04:48.62</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1262&#31;reute
f f BC-******ATT-INTRODUCES   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ATT INTRODUCES NEW COMPUTER HARDWARE, SOFTWARE, NETWORKING PRODUCTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14312" NEWID="8791">
<DATE>24-MAR-1987 11:06:22.57</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;f1273&#31;reute
u f BC-HYDRAULIC-&lt;THC>-SPLIT   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>HYDRAULIC &lt;THC> SPLITS 3-FOR-2, HIKES DIVIDEND</TITLE>
<DATELINE>    BRIDGEPORT, Conn., March 24 - </DATELINE><BODY>The Hydraulic Co said its
board approved a three-for-two stock split of its common stock
and increased its quarterly cash dividend.
    It said the stock split will occur through a 50 pct stock
distribution on Hydraulic's common stock, payable April 30 to
stockholders of record on April 3.
    The quarterly cash dividend, payable April 15 to
stockholders of record on April 3, is to be paid on Hydraulic's
pre-split shares that are currently outstanding, the company
said.
    The dividend will be 54.75 cts per share, up from 52 cts
per share.It will represent a quarterly common stock cash
dividend of 36.50 cts per share on the share that will be
outstanding after the stock split, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14313" NEWID="8792">
<DATE>24-MAR-1987 11:07:51.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1285&#31;reute
b f BC-ATT-&lt;T>-INTRODUCES-NE   03-24 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>ATT &lt;T> INTRODUCES NEW COMPUTER PRODUCTS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>American Telephone and Telegraph Co
said it has introduced a variety of new computer hardware,
software and networking products for corporate use.
    The company introduced the 3B2/600 minicomputer, which can
support up to 64 simultaneous users. The computer is the latest
addition to ATT's family of Unix system-based minicomputers, it
said.
    The 3B2/600 costs 46,500 dlrs and will be available in May
1987, ATT said.
    The company also announced a host of peripherals to enhance
the data storage capacity of the minicomputer and other
products.
    In addition, ATT cut prices 17 to 25 pct on its 3B2/310 and
400 computers and 12 to 24 pct on its 3B15 computer model 301
and 401, it said.
    Among the developments announced today is ATT's use of the
Small Computer Systems Interface, SCSI, an emerging industry
standard for communications between computers and peripherals.
    The SCSI-based peripherals introduced include a 3B2 host
adaptor package for 2,000 dlrs, new configurations for the
3B2/400, available for 23,000 to 26,000 dlrs, and expansion
modules priced at 20,700 dlrs. The peripherals will also be
available in May, it said.
    Other products introduced include document exchange
products, printers, and other peripherals.
    Most are to be available beginning this spring and summer,
although some of the document exchange products are available
now, ATT said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14314" NEWID="8793">
<DATE>24-MAR-1987 11:09:03.58</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;f1296&#31;reute
r f BC-HUGHES-SUPPLY-INC-&lt;HU   03-24 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>HUGHES SUPPLY INC &lt;HUG> 4TH QTR NET</TITLE>
<DATELINE>    ORLANDO, Fla., March 24 -
    </DATELINE><BODY>Shr 52 cts vs 49 cts
    Shr diluted 1.95 dlrs vs 1.99 dlrs
    Net 1,751,609 vs 1,622,503
    Sales 85.9 mln vs 85.1 mln
    Year
    Shr 2.10 dlrs vs 1.99 dlrs
    Shr diluted 1.95 dlrs vs 1.99 dlrs
    Net 6,822,493 vs 6,601,717
    Sales 347.8 mln vs 324.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14315" NEWID="8794">
<DATE>24-MAR-1987 11:09:11.33</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;f1297&#31;reute
r f BC-PREWAY-INC-&lt;PREW>-4TH   03-24 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>PREWAY INC &lt;PREW> 4TH QTR LOSS</TITLE>
<DATELINE>    STAMFORD, CONN., March 24 - 
    </DATELINE><BODY>Shr loss 64 cts vs loss 1.29 dlrs
    Net loss 5,732,000 vs loss 4,924,000
    Sales 18.8 mln vs 23.6 mln
    Avg shrs 9.0 mln vs 3.8 mln
    Year
    Shr loss 1.82 dlrs vs loss 3.65 dlrs
    Net loss 12,267,000 vs loss 13,911,000
    Sales 112.8 mln vs 129.3 mln
    Avg shrs 6.7 mln vs 3.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14316" NEWID="8795">
<DATE>24-MAR-1987 11:09:16.99</DATE>
<TOPICS><D>acq</D><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1298&#31;reute
r f BC-MOORE-MCCORMACK-&lt;MMR>   03-24 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>MOORE-MCCORMACK &lt;MMR> COMPLETES UNIT SALE</TITLE>
<DATELINE>    STAMFORD, Conn., March 24 - </DATELINE><BODY>Moore McCormack Resources Inc
said it has completed the previously-announced sale of its
Interlake Steamship Co and Moore McCormack Bulk Transport Inc
Great Lakes and ocean bulk shipping units to James R. Barker.
    The company said president Paul Tregurtha has succeeded
Barker as chairman and chief executive officer of Moore
McCormack.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14317" NEWID="8796">
<DATE>24-MAR-1987 11:09:45.23</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>egypt</D><D>sudan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1301&#31;reute
r f BC-SUDAN-REJECTS-IMF-DEM   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>SUDAN REJECTS IMF DEMAND FOR DEVALUATION</TITLE>
<DATELINE>    CAIRO, March 24 - </DATELINE><BODY>Sudan has rejected a demand by the
International Monetary Fund for a currency devaluation because
such a move would have a negative impact on its economy, the
official Sudan News Agency (SUNA) reported.
    Finance Minister Beshir Omer, quoted by SUNA, said his
government also rejected an IMF demand to lift state subsidies
on basic consumer goods.
    SUNA, monitored by the British Broadcasting Corporation,
said Omer made the remarks after a meeting in Khartoum
yesterday with IMF envoy Abdel-Shakour Shaalan.
    Sudan, burdened by a foreign debt of 10.6 billion dlrs, is
some 500 mln dlrs in arrears to the IMF, which declared it
ineligible for fresh loans in February last year.
    In February 1985, Sudan announced a 48 pct devaluation of
its pound against the dollar, adjusting the official exchange
rate to 2.5 pounds to the U.S. Currency.
    Since then, it has resisted pressure from main creditors
for more currency adjustments, arguing that past devaluations
had failed to boost exports but raised local consumer prices.
Sudan also has an incentive rate of four pounds to the dollar
for foreign visitors and remittances by expatriate workers.
    Dealers in Khartoum's thriving black market said the dollar
was sold at 5.5 pounds today.
    With stringent import regulations and the government
increasingly short of foreign currency, black market dollars
are used to finance smuggled imports from neighbouring
countries, mainly Egypt, Kenya, Ethiopia and Zaire.
    Western diplomats in Khartoum say the meetings between IMF
and Sudanese government officials do not amount to formal
talks, but rather an effort by the IMF to monitor Sudan's
economic performance.
    The diplomats said Sudan hoped a planned four-year economic
recovery program would be acceptable to the IMF as a serious
attempt to tackle the country's economic troubles and persuade
its Gulf Arab creditors to pay the IMF arrears.
    This, they said, could provide Sudan with a clean bill of
health from the IMF that it could take to Western government
creditors, grouped informally in the so-called Paris Club, to
reschedule debt payments.
    Twenty-three pct of Sudan's total foreign debt is owed to
members of the Paris Club, the diplomats said.
    Sudan's Finance Minister said last month the country's IMF
representative had told him the fund's executive board was "very
pleased with the 18.5 mln dlrs arrears we have paid in the past
couple of months."
    The representative, Omer Said, said IMF Managing Director
Michel Camdessus said he would ask Saudi Arabia, to which Sudan
owes about 1.4 billion dlrs, to help Khartoum to pay more.
    Sudan has an annual debt liability of nearly 900 mln dlrs
but set aside only some 200 mln dlrs to service debts in the
fiscal year ending next June 30.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14318" NEWID="8797">
<DATE>24-MAR-1987 11:10:03.30</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;f1303&#31;reute
r f BC-SOUTHERN-NATIONAL-COR   03-24 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHERN NATIONAL CORP &lt;SNAT> SETS STOCK SPLIT</TITLE>
<DATELINE>    LUMBERTON, N.C., March 24 - </DATELINE><BODY>Southern National corp said its
board declared a three-for-two stock split, payable to
shareholders of record on May 22.
    A company spokeswoman said the payable date for the split
has not yet been fixed but would be shortly after the record
date.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14319" NEWID="8798">
<DATE>24-MAR-1987 11:11:47.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1315&#31;reute
d f BC-IONE-COMPLETES-INITIA   03-24 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>IONE COMPLETES INITIAL PUBLIC OFFERING</TITLE>
<DATELINE>    MINNEAPOLIS, March 24 - </DATELINE><BODY>&lt;Ione Inc>, which buys, sells and
manages retail gift, sundries and smokeshops located in hotels,
said it successfully completed a 1.8 mln share common stock
initial public offering at 25 cts a share.
    Rudy Steury, Ione president, said Ione will use the
proceeds to further develop its retail shop network, as well as
to purchase and resell more shops.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14320" NEWID="8799">
<DATE>24-MAR-1987 11:12:30.03</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;f1319&#31;reute
u f BC-NATIONAL-SEMICONDUCTO   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL SEMICONDUCTOR&lt;NSM> CITES IMPROVED RESULTS</TITLE>
<DATELINE>    SANTA CLARA, Calif., March 24 - </DATELINE><BODY>National Semiconductor Corp
said improved results at its Semiconductor Group helped reduce
losses in the third quarter and nine months.
    In the quarter ended March 8, the group had a modest sales
increase and major improvement in operating performance
compared to the year-ago quarter, the company said.
    But results softened from the prior quarter because of low
bookings last fall for third quarter shipment and holiday
shutdowns, it said.
    The semiconductor maker cut net losses to 25.6 mln dlrs or
31 cts a share from 39.4 mln dlrs or 47 cts in the quarter.
    Losses in the nine months were reduced to 32.7 mln dlrs or
44 cts from 84.4 mln dlrs or one dlr. Sales grew 23.5 pct in
the quarter to 398.1 mln dlrs and 25.5 pct in the nine months
to 1.36 billion dlrs.
    Bookings recovered in the latter part of the third quarter,
the company said. Despite the improvement in order rates and
operating results year-to-year, pricing continues to be
"aggressive for many products," it said.
    Nevertheless, it expects the semiconductor business will
continue to improve this year. The Information Systems Group
will continue strong sales growth based on recent order trends
and new product introductions, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14321" NEWID="8800">
<DATE>24-MAR-1987 11:12:49.78</DATE>
<TOPICS><D>grain</D><D>sugar</D><D>carcass</D><D>livestock</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L T
&#22;&#22;&#1;f1321&#31;reute
d f BC-EC-COLD-AID-FOOD-SCHE   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COLD AID FOOD SCHEME MAY BE MADE PERMANENT</TITLE>
<DATELINE>    BRUSSELS, March 24 - </DATELINE><BODY>Emergency action to distribute
European Community (EC) food surpluses to the poor has proved
so successful that the EC executive Commission may propose a
permanent scheme, a Commission spokesman said.
    Almost 60,000 tonnes of food was taken out of EC stores
between January 20, when Agriculture Ministers approved the
scheme, and March 13, according to latest commission figures.
    The food, including 30,000 tonnes of cereals, 6,000 tonnes
of sugar, 4,000 tonnes of beef and 13,300 tonnes of butter, has
been distributed to the needy through charities.
    The present scheme was approved as an emergency measure to
help poor people affected by this year's unusually cold winter
and will end on March 31.
    But the spokesman said the commission will consider whether
to propose it be replaced by an all-year-round system.
    The commission estimates that up to March 13 the temporary
scheme cost between 63 and 68 mln European currency units
(72/78 mln dlrs). This is above the 50 mln Ecu (57 mln dlr)
ceiling originally envisaged by the Ministers.
    However, commission sources said the real cost was small if
account is taken of the expense of keeping food in store until
its quality and value deteriorates.
    On the other hand, the impact of the temporary scheme on EC
food surpluses has been slight. EC surplus food stocks at
January 31 included 1.28 mln tonnes of butter, 520,000 tonnes
of beef and over 10 mln tonnes of cereals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14322" NEWID="8801">
<DATE>24-MAR-1987 11:12:55.18</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1322&#31;reute
f f BC-******FORD-MID-MARCH   03-24 0007</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FORD MID-MARCH CAR SALES UP 15.2 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14323" NEWID="8802">
<DATE>24-MAR-1987 11:13:35.22</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1324&#31;reute
b f BC-/-FED-MAY-ADD-RESERVE   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FED MAY ADD RESERVES, ECONOMISTS SAY</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>The Federal Reserve may intervene in
the government securities market to add reserves today, some
economists said, although others felt that the Fed was likely
to refrain from any action.
    Those who believed the Fed will intervene said it would
probably add temporary reserves indirectly via 1.5 to two
billion dlrs of customer repurchase agreements.
    But others noted the Fed's current add-need is not large.
They also expected the federal funds rate to edge lower.
    Fed funds, which averaged 6.21 pct on Monday, opened at
6-1/8 pct and remained at that level in early trading.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14324" NEWID="8803">
<DATE>24-MAR-1987 11:14:19.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1329&#31;reute
u f BC-CREDIT-NATIONAL-ISSUE   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>CREDIT NATIONAL ISSUES 100 MLN DLR EUROBOND</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Credit National is issuing a 100 mln dlr
eurobond, due April 23, 1992 with a 7-3/8 pct coupon and priced
at 101-5/8 pct, LTCB International said as lead manager.
    The bonds, guaranteed by the French government, will be
issued in denominations of 5,000 dlrs and will be listed in
Luxembourg. Gross fees of 1-7/8 pct comprise 5/8 pct for
management and underwriting combined and 1-1/4 pct for selling.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14325" NEWID="8804">
<DATE>24-MAR-1987 11:14:39.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1332&#31;reute
r f BC-E-TRON-CORP-REACHES-A   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>E-TRON CORP REACHES AGREEMENT WITH FORMER PRES</TITLE>
<DATELINE>    EDISON, N.J., March 24 - </DATELINE><BODY>E-tron Corp said it will submit a
settlement agreement reached with its former president to the
bankruptcy court for approval.
    It said the settlement stems from a suit against the former
company president.
    E-tron, which is in Chapter 11, said the settlement calls
for Irwin Lampert to return 2,350,000 shares of E-tron stock to
its treasury, and prohibits Lampert from starting a business
competive with E-tron, the company said.
    It added Irwin must repay certain debts, also.
    E-tron said it will submit soon a creditor proposal plan to
get out of Chapter 11.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14326" NEWID="8805">
<DATE>24-MAR-1987 11:15:34.16</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;f1339&#31;reute
r f BC-SALOMON-OFFERS-UNITS   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON OFFERS UNITS OF VAN DUSEN AIRPORT L.P.</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Salomon Brothers Inc, acting as sole
underwriter, said it is publicly offering 50,000 units of Van
Dusen Airport Services Co, L.P.
    The offering consists of 50 mln dlrs of 12 pct senior
subordinated notes due 1997 and 50,000 contingent payment
obligations. The notes are priced at par, or 1,000 dlrs each.
    A unit has one par value note and one contingent payment
obligation. The notes are redeemable by Van Dusen after March
15, 1992, Salomon said.
    A payment obligation entitles the holder to receive a cash
payment under certain events, or to certain repurchase rights.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14327" NEWID="8806">
<DATE>24-MAR-1987 11:15:49.13</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1341&#31;reute
d f BC-BERLINER-BANK-SAYS-ST   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BERLINER BANK OUTLINES LOSSES</TITLE>
<DATELINE>    WEST BERLIN, March 24 - </DATELINE><BODY>&lt;Berliner Bank AG> has suffered
losses of between 25 mln and 30 mln marks on credits extended
by its Stuttgart branch by bank officials who exceeded their
powers, a bank spokesman said.
    The spokesman, replying to queries about press reports,
said he could not rule out the possibility that the final loss
figure may be slightly above this range.
    Late last week the bank said only that the losses from the
credits in Stuttgart would be in the "double-digit millions."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14328" NEWID="8807">
<DATE>24-MAR-1987 11:16:19.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1345&#31;reute
r f BC-ALPHA-INDUSTRIES-&lt;AHA   03-24 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>ALPHA INDUSTRIES &lt;AHA> GETS FAVORABLE DECISION</TITLE>
<DATELINE>    WOBURN, Mass., March 24 - </DATELINE><BODY>Alpha Industries Inc said the
U.S. Court of Appeals has upheld a lower court decision
dismissing a class action shareholder suit that had alleged
violations of Securities and Exchange Commission disclosure
requirements and racketeering laws.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14329" NEWID="8808">
<DATE>24-MAR-1987 11:16:22.61</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;f1346&#31;reute
s f BC-HUGHES-SUPPLY-INC-&lt;HU   03-24 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>HUGHES SUPPLY INC &lt;HUG> SETS QUARTERLY</TITLE>
<DATELINE>    ORLANDO, Fla., March 24 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay May 22
    Record May 8
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14330" NEWID="8809">
<DATE>24-MAR-1987 11:18:00.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1349&#31;reute
r f BC-FREEPORT-MCMORAN-&lt;FTX   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>FREEPORT-MCMORAN &lt;FTX> TO OFFER PREFERRED</TITLE>
<DATELINE>    NEW ORLEANS, March 24 - </DATELINE><BODY>Freeport-McMoRan Inc said it has
filed for a proposed public offering of 10 mln shares of
convertible exchangeable preferred stock with a liquidation
value of 25 dlrs per share.
    The company said it intends to use the proceeds to repay
debt incurred in connection with the acquisition of Petro-Lewis
Corp and shares of American Royalty Trust &lt;ARI>.
    &lt;Kidder, Peabody and Co Inc> is lead underwriter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14331" NEWID="8810">
<DATE>24-MAR-1987 11:18:42.79</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;f1352&#31;reute
r f BC-KLEINERT'S-INC-&lt;KLRT>   03-24 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>KLEINERT'S INC &lt;KLRT> 1ST QTR ENDS FEB 28 NET</TITLE>
<DATELINE>    PLYMOUTH MEETING, Pa., March 24 -
    </DATELINE><BODY>Shr 24 cts vs 18 cts
    Net 359,000 vs 297,000
    Revs 5,724,000 vs 6,430,000
    Avg shrs 1,475,0000 vs 1,668,000
    NOTE: qtrs include tax gain of 147,000 vs 137,000.
    Prior qtr ended March 1, 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14332" NEWID="8811">
<DATE>24-MAR-1987 11:19:39.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>east-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1357&#31;reute
u f BC-HOESCH-WINS-22-MLN-MA   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>HOESCH WINS 22 MLN MARK ORDER FROM EAST GERMANY</TITLE>
<DATELINE>    DORTMUND, West Germany, March 24 - </DATELINE><BODY>&lt;Hoesch AG> said its
&lt;Hoesch Maschinenfabrik Deutschland AG> subsidiary has won a 22
mln mark East German order for equipment to produce steel
rope-reinforced conveyor belts.
    The equipment, to be installed at the VEB Transportgummi
company in the East German town of Bad Blankenburg, will be
used to produce belts of up to three meters wide, a company
statement said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14333" NEWID="8812">
<DATE>24-MAR-1987 11:22:53.44</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1371&#31;reute
f f BC-******U.S.-SUPREME-CO   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SUPREME COURT ALLOWS OFFSHORE ALASKAN OIL AND GAS EXPLORATION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14334" NEWID="8813">
<DATE>24-MAR-1987 11:23:59.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1375&#31;reute
r f BC-GREAT-LAKES-&lt;GLK>-IN   03-24 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT LAKES &lt;GLK> IN VENTURE WITH JOHNSON &lt;JNJ></TITLE>
<DATELINE>    WEST LAFAYETTE, IND., March 24 - </DATELINE><BODY>Great Lakes Chemical Corp
said it agreed to make an ingredient to be used by McNeil
Specialty Products Co, a subsidiary of Johnson and Johnson, in
the manufacture of sucralose, a high intensity sweetener.
    Sucralose is currently under review by the Food and Drug
Administration.
    Great Lakes Chemical and McNeil Specialty will build the
facilities needed for production, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14335" NEWID="8814">
<DATE>24-MAR-1987 11:24:15.89</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;f1376&#31;reute
r f BC-MICRODYME-CORP-&lt;MCDY>   03-24 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>MICRODYME CORP &lt;MCDY> 1ST QTR FEB ONE LOSS</TITLE>
<DATELINE>    OCALA, Fla., March 24 -
    </DATELINE><BODY>Shr loss nine cts vs profit two cts
    Net loss 397,000 vs profit 76,000
    Revs 3,763,000 vs 6,467,000
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14336" NEWID="8815">
<DATE>24-MAR-1987 11:24:36.03</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 F
&#22;&#22;&#1;f1377&#31;reute
b f AM-COURT-OIL   03-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. COURT ALLOWS OFFSHORE ALASKAN EXPLORATION</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>A unanimous Supreme Court ruled that
oil and gas exploration can proceed on two tracts off the
Alaska coast which were leased by the federal government to
eight major oil companies.
    The ruling was an important victory for the oil companies
and the Reagan administration's controversial off-shore leasing
program and a setback for two small Alaskan villages that
challenged the leases by claiming damage to the environment.
    The administration said that the court-ordered halt in
drilling had created uncertainty over the 4.2 billion dlrs paid
for 621 leases off the shores of Alaska since December 1980.
    A federal appeals court ordered the oil companies to halt
all exploration and remove all drilling rigs from two tracts in
the Bering Sea off Alaska because of possible harm to the
subsistence needs and culture of native Eskimos.
    But the Supreme Court said the appeals court was wrong in
issuing an injunction halting exploration.
    "Here, injury to subsistence resources from exploration was
not at all probable," Justice Byron White wrote for the court.
"And on the other side of the balance of harms was the fact
that the oil companies had committed approximately 70 mln dlrs
to exploration to be conducted during the summer of 1985 which
they would have lost without chance of recovery had exploration
been enjoined," he said.
    The oil companies, Amoco Corp &lt;AN>, ARCO, Exxon Corp &lt;XON>,
Mobil Corp &lt;MOB>, Sohio, Shell, Texaco Inc &lt;TX> and Union Oil,
had said that voiding previously granted leases would result in
staggering financial losses.
    The first lease sale in 1983 involved 2.4 mln acres and
generated 318 mln dlrs while the second lease sale in 1984
covered 37 mln acres and produced 516 mln dlrs.
    Administration officials, saying the lease sales were
preceded by an intense environmental impact study, denied that
the oil and gas exploration would hurt subsistence resources.
    The Alaskan villages of Gambell and Stebbins, along with an
organization of Eskimo natives on the Yukon Delta, argued that
the drilling would hurt native hunting and fishing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14337" NEWID="8816">
<DATE>24-MAR-1987 11:26:24.98</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1383&#31;reute
f f BC-SOUTH-AFRICA/BANKS-AG   03-24 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SOUTH AFRICA/BANKS AGREE NEW DEBT REPAYMENT PLAN, STANDSTILL EXTENDED TO 1990 - BANKERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14338" NEWID="8817">
<DATE>24-MAR-1987 11:31:36.40</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1401&#31;reute
b f BC-SOUTH-AFRICA/BANKS-AG   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SOUTH AFRICA/BANKS WORK OUT DEBT PLAN, STANDSTILL EXTENDED TO 1990 - BANKERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14339" NEWID="8818">
<DATE>24-MAR-1987 11:32:19.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1403&#31;reute
b f BC-/FORD-MOTOR-&lt;F>-MID-M   03-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD MOTOR &lt;F> MID-MARCH CAR SALES UP</TITLE>
<DATELINE>    DEARBORN, Mich., March 24 - </DATELINE><BODY>Ford Motor Co said its domestic
passenger car sales for the nine days from March 11 through
March 20 rose to 67,672, up 15.2 pct from the 58,729 cars sold
in the same period last year.
    Ford said sales for the month-to-date rose as well to
118,079, versus 106,321 in the same period last year, an 11.1
pct rise.
    It added, however, that year-to-date sales from January 1
fell to 383,380 from 402,599 last year to date, down 4.8 pct.
    Ford said its truck sales for the nine-day period from
March 11 through March 20 rose to 50,648 from 39,986 in the
same period last year.
    Year-to-date truck sales also climbed to 282,156 from
266,512 last year-to-date.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14340" NEWID="8819">
<DATE>24-MAR-1987 11:33:44.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1412&#31;reute
b f BC-SOUTH-AFRICA/BANKS-AG   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA/BANKS AGREE NEW TERMS TO REPAY DEBT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Representatives of South Africa's
Standstill Coordinating Committee (SCC) and its commercial bank
creditors have agreed new terms covering repayments of 14
billion dlrs of debt, banking sources said.
    The debt is covered by a standstill agreement that expires
June 30.
    Under the new accord, the standstill will be extended for
three years to June 30, 1990.
    There will be an immediate repayment of three pct to all
the banks, to be followed by various payments at six-month
intervals over the life of the agreement totalling some 1.5
billion dlrs.
    The three pct payment will be due July 15, 1987. Subsequent
repayments will be determined under a complex structure which
will be based on the maturity structure of individual banks'
loans, the bankers said.
    The bankers, who declined to be identified, said the
agreement also will give banks the option to convert their
existing debt into term loans for 10-years, with five years
grace.
    An agreement reached last year allowed for the conversion
of the short-term debt covered by the standstill into
three-year loans.
    Bankers said today's talks concluded months of intense
negotiations.
    They said the South African Finance Ministry is expected to
make a statement on the agreement later today.
    A review of South Africa's economy by the economic
subcommittee of commercial banks is nearing completion and
should be announced shortly, the bankers said.
    No further details were immediately available.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14341" NEWID="8820">
<DATE>24-MAR-1987 11:34:02.03</DATE>
<TOPICS><D>earn</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1413&#31;reute
u f BC-LOWER-TAX-OFFSETS-LOW   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>LOWER TAX OFFSETS LOWER SHELL U.K. UPSTREAM PROFIT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>&lt;Shell U.K. Ltd's> pre-tax profit on
exploration and production operations fell to 869 mln stg in
1986 from 2.12 billion in 1985 due to the fall in oil prices
last year, Shell U.K. Finance director Nigel Haslam said.
    But he told a press conference that due to the high
marginal tax rate on North Sea operations, the main impact of
the drop in profit was absorbed by a fall in taxation to 330
mln stg from 1.45 billion in 1985.
    The bulk of tax last year was Corporation Tax, with
Petroleum Revenue Tax (PRT) representing only 16 mln stg, he
said.
    As a result, post-tax profit from the exploration and
production sector fell by only 126 mln stg to 539 mln.
    Earlier, Shell U.K., a subsidiary of Royal Dutch/Shell
Group &lt;RD.AS>, reported an overall net profit of 757 mln stg,
up from 667 mln in 1985, on sales of 6.57 billion stg against
8.81 mln.
    Shell U.K. Chairman Bob Reid said the company's crude oil
output from the North Sea was at a record 373,000 bpd in 1986,
which would almost certainly prove to be a peak for the
company. Shell expects a fall in output of around 10 pct in the
current year to around 340,000 bpd, due mainly to the decline
in output from the major Brent field, he said.
    Gas output of 5.9 billion cubic metres and natural gas
liquids output of around one mln tonnes in 1986 are expected to
be maintained in 1987, he said.
    A final decision on development of the Kittiwake and Osprey
North Sea oil fields will be made in the next 12 to 18 months,
Reid said. The Kittiwake field, originally part of the 2.5
billion stg Gannet project abandoned last year when the oil
price fell, is now estimated to cost around 350 mln stg.
    Economies on development costs for the Tern and Eider North
Sea fields, which were approved last year, have brought the
cost down to 30 to 35 pct below the original budget.
    Day to day operating costs of the exploration and
production sector had been cut 10 pct last year, and the target
is to keep costs per barrel constant.
    The company drilled 17 wells offshore, with 10 leading to
the discovery of hydrocarbons, although it is too early to
gauge the commercial viability of these discoveries, Reid said.
    Restructuring of the downstream oil sector contributed to a
profit rise to 187 mln stg in 1986 from 91 mln stg in 1985.
    Jaap Klootwijk, managing director of downstream unit &lt;Shell
U.K. Oil>, said refining margins in the first quarter of 1987
were a "bit better than the very bad fourth quarter 1986."
    In November and December in particular, refining operations
had shown negative margins following the fall in crude and oil
product prices, he said. He expected margins to continue
generally positive over the summer, although they could dip to
become negative from time to time, depending on price
movements.
    A new catalytic cracker at Shell's Stanlow refinery will
now come on stream by the end of first quarter 1988, about five
months behind schedule, following a crane accident which
severely damaged the plant last year, he said.
    Profits from the chemicals sector rose to 33 mln stg from
11 mln after the rationalisation of the Carrington chemical
site.
    Haslam said the Budget announcement on PRT relief, by which
companies will be allowed to offset up to 10 pct of qualifying
development expenditure on certain future oil fields against
PRT, was "helpful," but rather less than had been hoped for.
    Reid said his estimate of crude oil prices this year was in
the range of 15 to 18 dlrs. If prices went much above that, he
would expect some over-production above OPEC"s official 15.8 mln
bpd output ceiling which would tend to bring prices back down.
    He said it looked as if the December OPEC pact to restrain
output was holding, bringing supply and demand into balance,
but the test will come in summer when demand for OPEC oil will
fall.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14342" NEWID="8821">
<DATE>24-MAR-1987 11:35:56.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1424&#31;reute
u f BC-VOLKSWAGEN-U.S.-MID-M   03-24 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLKSWAGEN U.S. MID-MARCH CAR SALES DOWN</TITLE>
<DATELINE>    DETROIT, March 24 - </DATELINE><BODY>Volkswagen U.S. Inc said its mid-March
car sales fell 35 pct from the same period last year.
    Volkswagen said it sold 1,330 cars in the March 11-20
period, down from 2,047 last year.
    For the first two March sales periods, Volkswagen sold
2,179 U.S. cars, down 23.7 pct from 2,856 last year. Year to
date car sales were 8,806, down 41.5 pct from 15,050 last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14343" NEWID="8822">
<DATE>24-MAR-1987 11:38:45.21</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1446&#31;reute
f f BC-******CALNY-INC-REJEC   03-24 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CALNY INC REJECTS PEPSICO INC ACQUISITION OFFER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14344" NEWID="8823">
<DATE>24-MAR-1987 11:39:13.58</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;f1448&#31;reute
u f BC-DIXONS-PLANS-TO-LET-C   03-24 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>DIXONS PLANS TO LET CYCLOPS &lt;CYL> OFFER EXPIRE</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Dixons Group PLC said it does not plan
to extend the expiration date of its tender offer for any and
all common shares of Cyclops Corp beyond tonight.
    Dixons said it would accept shares validly tendered and not
withdrawn by midnight tonight.
    Dixons, which is offering 90.25 dlrs a share for Cyclops,
said last week it had about 54 pct of Cyclops common shares.
Its offer originally was scheduled to expire March 17 but was
extended for one week.
    Yesterday Citicorp &lt;CCI>, with Audio/Video Affiliates Inc
&lt;AVA> an owner of CYACQ, said it had offered to acquire from
Dixons after the merger of Cyclops into Dixons, Cyclops'
industrial businesses for 12.8 mln dlrs more than Alleghany
Corp &lt;Y> is currently scheduled to pay for them.
    Citicorp said yesterday that its proposal would allow
Dixons to raise its tender price to 93.25 dlrs per share.
Citicorp said if Dixons accepted the proposal, CYACQ would
terminate its competing 92.50 dlr offer for Cyclops.
    Citicorp had suggested yesterday that Dixons extend its
tender until March 31 in connection with the price increase.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14345" NEWID="8824">
<DATE>24-MAR-1987 11:40:26.13</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;f1453&#31;reute
r f BC-S/P-UPGRADES-IOWA-ILL   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P UPGRADES IOWA-ILLINOIS GAS &lt;IWG> PREFERRED</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Standard and Poor's said it upgraded
31 mln dlrs of preferred and preference stock of Iowa-Illinois
Gas and Electric Co.
    It raised the preferred stock to AA-minus from A-plus and
preference stock to A-plus from A and affirmed Iowa-Illinois'
AA senior debt, AA-minus subordinated debt and A-1-plus
commercial paper. The utility has 350 mln dlrs of debt
securities outstanding.
    S and P said the upgrade reflected the firm's overall
strong profile, high quality earnings and cash flow, and
prospects for modest preferred and preference stock usage.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14346" NEWID="8825">
<DATE>24-MAR-1987 11:45:01.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>finland</D><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1467&#31;reute
b f BC-FINNISH-EXPORT-CREDIT   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>FINNISH EXPORT CREDIT ISSUES DANISH CROWN BONDS</TITLE>
<DATELINE>    COPENHAGEN, March 24 - </DATELINE><BODY>Finnish Export Credit Ltd issued
bonds for 450 mln Danish crowns in three bullet tranches each
of 150 mln crowns, an official at joint lead manager Copenhagen
Handelsbank A/S told Reuters.
    All three tranches bear an 11 pct coupon, with average
issue price of 101-1/8 and average fees of 1-1/2 pct, payment
date May 14, 1987. Denominations are 10,000 crowns and
registration is in Luxembourg.
    The bonds mature respectively in May 1989, 1990 and 1991
and are being syndicated as a package but quoted separately.
Handelsbank is joint lead with Prudential-Bache Securities Int.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14347" NEWID="8826">
<DATE>24-MAR-1987 11:45:59.73</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;f1470&#31;reute
r f BC-INTERNATIONAL-CLINICA   03-24 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL CLINICAL LABORATORIES INC &lt;ICLB></TITLE>
<DATELINE>    NASHVILLE, Tenn., March 24 -
    </DATELINE><BODY>Shr nine cts vs seven cts
    Net 676,000 vs 509,000
    Revs 48.5 mln vs 39.9 mln
    1st half
    Shr 12 cts vs 17 cts
    Net 923,000 vs 1,248,000
    Revs 94.1 mln vs 79.5 mln
    NOTE:Current half net includes charge 500,000 dlrs from
reversal of investment tax credits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14348" NEWID="8827">
<DATE>24-MAR-1987 11:46:09.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1471&#31;reute
r f BC-PUNTA-GORDA-&lt;PGA>-CAN   03-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>PUNTA GORDA &lt;PGA> CANCELS RIGHTS OFFERING</TITLE>
<DATELINE>    PUNTA GORDA, Fla., March 24 - </DATELINE><BODY>Punta Gorda Isles Inc said it
has cancelled a proposed rights offering to its shareholders
due to a previously-announced 7,500,000 dlr private sale of
preferred stock to Love Development and Investment Co, which is
scheduled to close before the end of the second quarter.
    The company said due to the cancellation, conversion prices
for its convertible debentures have returned to their initial
levels.  It said it issued no shares or rightsd in connection
with the proposed rights offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14349" NEWID="8828">
<DATE>24-MAR-1987 11:46:20.90</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;f1472&#31;reute
d f BC-MIDAM-SETS-TRADING-AT   03-24 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDAM SETS TRADING AT NEW CBT LOCATION MARCH 30</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>The Midamerica Commodity Exchange, an
affiliate of the Chicago Board of Trade, CBT, that offers
smaller versions of several futures contracts traded on other
exchanges, will begin trading in its new quarters within the
CBT complex on March 30, the CBT announced.
    Concurrent with the move from its current site a few blocks
away, the trading hours of the Midam's Treasury bond futures
contract will expand to between 0720 and 1515 local time from
0800 to 1415 currently.
    The Midam's T-bond contract has a face value half the size
of the CBT's 100,000 dlr T-bond contract, the most active
futures contract traded.
    The Midam also offers smaller-sized futures and options on
currencies, precious metals, grains and livestock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14350" NEWID="8829">
<DATE>24-MAR-1987 11:46:59.87</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1473&#31;reute
r f BC-NORWEGIAN-CENTRAL-BAN   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWEGIAN CENTRAL BANK RESERVES FALL IN JANUARY</TITLE>
<DATELINE>    OSLO, March 24 - </DATELINE><BODY>Norway's Central Bank reserves totalled
91.06 billion crowns in January, against 93.07 billion in
December and 105.29 billion in January 1986, the central bank
said in its monthly balance sheet.
    Foreign exchange reserves totalled 83.68 billion crowns,
compared with 85.52 billion in December and 99.19 billion
crowns a year ago. Gold reserves totalled 284.7 mln crowns,
unchanged from the previous month and the year-ago figure.
    Central bank special drawing right holdings were 2.82
billion crowns, compared with 2.89 billion in December and 2.13
billion a year ago.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14351" NEWID="8830">
<DATE>24-MAR-1987 11:48:16.33</DATE>
<TOPICS><D>acq</D></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;f1478&#31;reute
r f BC-GNB-JOINS-IN-LEVERAGE   03-24 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>GNB JOINS IN LEVERAGED BUYOUT OF FRENCH UNIT</TITLE>
<DATELINE>    MINNEAPOLIS, Minn., March 24 - </DATELINE><BODY>&lt;GNB Inc> said it joined
with the management of the French company Compagnie Francaise
d'Electro-Chimie to purchase the company for an undisclosed
amount.
    The French company, which produces lead-acid batteries, had
sales in 1986 of 75 mln dlrs, GNB said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14352" NEWID="8831">
<DATE>24-MAR-1987 11:49:52.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1479&#31;reute
u f BC-LB-RHEINLAND-PFALZ-IS   03-24 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>LB RHEINLAND-PFALZ ISSUES AUSTRALIA DLR BOND</TITLE>
<DATELINE>    London, March 24 - </DATELINE><BODY>Landesbank Rheinland-Pfalz Finance BV is
issuing a zero coupon 75 mln Australia dlr bond due May 7, 1992
priced at 52-3/4 pct for an effective yield to maturity of
14-1/4 pct, said Orion Royal Bank as lead manager.
    The issue is guaranteed by parent company Landesbank
Rheinland-Pfalz Girozentrale, which is jointly owned by the
West German state of Rheinland-Pfalz and local savings banks.
    Payment is set for May 7 and the securities will be listed
on the Luxembourg stock exchange. Denominations are 1,000 and
10,000 dlrs with a 7/8 pct selling concession and a combined
management and underwriting fee of 1/2 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14353" NEWID="8832">
<DATE>24-MAR-1987 11:49:58.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1480&#31;reute
h f BC-CONTROL-RESOURCE-&lt;CRI   03-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTROL RESOURCE &lt;CRIX> NAMES NEW PRESIDENT</TITLE>
<DATELINE>    MICHIGAN CITY, IND., March 24 - </DATELINE><BODY>Control Resource Industries
Inc said it named R. Joseph Clancy as president.
    R. Steven Lutterbach, who previously held the president's
title, continues as chairman and chief executive officer.
    Clancy was a vice president and member of the board of
directors.
    The company also named Cody Geddes as vice president and
chief financial officer, succeeding John Wojcik, who remains as
executive vice president.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14354" NEWID="8833">
<DATE>24-MAR-1987 11:55:32.00</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1496&#31;reute
f f BC-******CHRYSLER-MID-MA   03-24 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CHRYSLER MID-MARCH U.S. CAR SALES DOWN 3.6 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14355" NEWID="8834">
<DATE>24-MAR-1987 11:56:21.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1499&#31;reute
r f BC-HERCULES-&lt;HPC>-NAMES   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>HERCULES &lt;HPC> NAMES NEW CHAIRMAN</TITLE>
<DATELINE>    WILMINGTON, Del, March 24 - </DATELINE><BODY>Hercules Inc said it named
David Hollingsworth as chairman and chief executive, succeeding
Alexander Giacco who is retiring effective April 1.
    Hercules also said it named Fred Buckner as president and
chief operating officer and Arden Engebretsen as vice chairman
and chief financial officer.
    The company also said it expects its new product, Synpulp,
to grow into a 100 mln dlr a year business over the next five
years. Metton, another new product, is expected to yield
300-500 mln dlrs a year by the late 1990s.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14356" NEWID="8835">
<DATE>24-MAR-1987 11:56:43.86</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>herrington</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1500&#31;reute
d f BC-econ   03-24 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>OIL TAX BREAK RIDICULED BY U.S. HOUSE TAXWRITER</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>A House taxwriter said Energy
Secretary James Herrington's "outrageous" plan to restore an old
tax break for oil companies was both bad tax and energy policy.
    Rep. Pete Stark, a California Democrat and senior House
Ways and Means Committee member, said Herrington's plan for a
27.5 pct depletion allowance--which in effect is a special 27.5
pct tax deduction --would cost seven billion dlrs a year.
    "He must have missed the last two years of federal tax
reform by sleeping as soundly as Rip Van Winkle," Stark said.
    He said in a statement the oil industry already pays an
effective lower rate of U.S. tax on investment, 15 pct versus
aggregate corporate tax on all investment of 34 pct, according
to a recent Congressional Research Service study.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14357" NEWID="8836">
<DATE>24-MAR-1987 11:58:34.97</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;f1511&#31;reute
u f BC-CALNY-&lt;CLNY>-REJECTS   03-24 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>CALNY &lt;CLNY> REJECTS PEPSICO ACQUISITION OFFER</TITLE>
<DATELINE>    SAN MATEO, Calif, March 24 - </DATELINE><BODY>Calny Inc said its board
rejected as inadequate the unsolicited offer by PepsiCo Inc
&lt;PEP> subsidiary Taco Bell Corp for all Calny's outstanding
common stock at 11.50 dlrs cash per share.
    Taco Bell recently acquired 9.9 pct of Calny's outstanding
stock, Calny said.
    Calny said it retained Oppenheimer and Co Inc to consider
various financial and strategic alternatives available to the
company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14358" NEWID="8837">
<DATE>24-MAR-1987 11:58:40.11</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;f1512&#31;reute
f f BC-******K-MART-CORP-RAI   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>K MART CORP RAISES DIVIDEND 17.6 PCT, VOTES THREE-FOR-TWO STOCK SPLIT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14359" NEWID="8838">
<DATE>24-MAR-1987 11:59:00.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1515&#31;reute
r f BC-CONTROL-DATA-&lt;CDA>-LA   03-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTROL DATA &lt;CDA> LAUNCHES NEW CYBER SYSTEM</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Control Data Corp, the computer
concern, is introducing its first department computer, the
CYBER 180 Model 930, which will integrate a computer network
starting with desktop computers through its mainframe line to
the supercomputer.
    "For Control DATA, it signals our intent to compete in our
marketplace more completely than ever before," said Gil
Williams, Control Data's vice president of Computer Systems, one
of six business units.
    The large Minneapolis-based computer concern, hit hard
after two years of huge losses, has said it anticipates a
profitable year ahead. But Control's computer business has not
been profitable since 1983.
    Last year, the company lost 264.5 mln dlrs, including a
fourth quarter restructuring charge of 139.9 mln dlrs and a
one-time loss of 69 mln dlrs.
    "We will use the 930 strategically not only to solidify and
expand relationships with existing loyal customers...but also
to create new sales opportunities for the corporation with
businesses large and small," said Williams.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14360" NEWID="8839">
<DATE>24-MAR-1987 12:00:36.26</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;f1518&#31;reute
u f BC-TALKING-POINT/U.S.-BR   03-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKING POINT/U.S. BROKERAGE FIRMS</TITLE>
<AUTHOR>    By Patti Domm, Reuters</AUTHOR>
<DATELINE>    New York, March 24 - </DATELINE><BODY>Wall Street's biggest brokerage firms,
eager for funds and foreign ties to fuel international
expansion, are expected to find more partnerships among Japan's
cash-rich companies, analysts said.
    Yesterday, American Express Co's &lt;AXP> board formally
approved a linkup with &lt;Nippon Life Insurance Co> for itself
and its &lt;Shearson Lehman Brothers Inc> brokerage unit. Nippon
Life will receive 13 pct of Shearson for 538 mln dlrs.
    Nippon Life's investment in Shearson follows last year's
investment by &lt;Sumitomo Bank Ltd> in &lt;Goldman, Sachs and Co>.
Sumitomo paid 500 mln dlrs for 12.5 pct of the firm.
    "There certainly is potential for additional investment or
further linkups with other Japanese financial institutions. I
think the pattern has established itself here, and it's
reasonable to expect further investment down the road," said
Prudential-Bache Securities analyst Larry Eckenfelder.
    Speculation of such partnerships spread to other brokerage
stocks, resulting in rising stock prices in recent sessions.
    "The brokerage industry needs capital and the evolution of
the value of the yen and the dollar suggests there's going to
be a great deal of investment by Japanese firms in the U.S.,"
said another analyst.
    As globalization of the financial markets accelerates,
Japanese firms are expected to turn their sights on the
expertise of the U.S. brokerage industry.
    Competiton to gain a foothold in the important asian market
and Europe has also created a craving for more capital by U.S
firms.
    "Morgan (Stanley), First Boston, Salomon (Brothers),
Merrill (Lynch). Those would be the firms more likely to
consider hooking up with a Japanese firm, and those would be
the ones the Japanese would be most interested in," Eckenfelder
said.
    All of those firms, he said, have been establishing
themselves in Japan.
    While Wall Street views the investment by Nippon favorably,
there is some underlying concern that Japanese companies may
learn enough from their U.S. partners to ultimately pose the
same type of competitive threat they have
made in electronics and automobiles.
    "The difficult issue is what investment really will lead to
as markets deregulate. Passive investment is an education
gathering period. Obviously, there are regulatory barriers
toward exercising management control," said Samuel Liss, a
brokerage industry analyst with Salomon Brothers.
    The Nippon purchase of a stake in Shearson must be approved
by U.S. regulators and the Japan Finance Ministry. There will
also be a public offering for 18 pct of Shearson.
    Nippon and Shearson have already said they would form a
joint venture company in London to work on investment advisory,
asset management, and consulting on financing.
    Analysts believe Nippon has willingly paid a premium for
its stake, but it will also receive warrants for one mln
American Express shares and the 13 mln shares in Shearson will
be cumulative preferred, convertible to common after U.S.
regulatory approval is granted.
    American Express has also guaranteed it will retain a
minimum of 40 pct of Shearson until 1990.
    American Express and Nippon are also expected to work
closely. For instance, analysts expect it to market the
American Express card more actively in Japan with the help of
Nippon.
    "The key to the deal is not just raising capital for
Shearson, but forming a strategic alliance with Nippon," said
Alan Zimmerman of Kidder, Peabody and Co.
    American Express stock responded favorably to the
announcements, climbing 2-1/8 to 79 in active trading today.
    Some analysts believe Nippon is also interested in gaining
a foothold in the U.S. market with the help of American Express
and Shearson.
    Analysts predicted other Japanese insurers may be eager to
follow Nippon Life. U.S. insurers have found numerous partners
themselves in the brokerage industry.
    For instance, Equitable Life Assurance Co owns Donaldson,
Lufkin and Jenrette Securities Corp, and Prudential Life
Insurance Co owns Prudential-Bache Securities Inc.
    Eckenfelder said Japanese brokerage firms would not be
likely acquirors of U.S. firms for the time being, although
they have often been rumored suitors in the past. Last year,
when Shearson unsuccessfully courted E.F. Hutton Group &lt;EFH>,
Japanese firms were also rumored to be willing partners.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14361" NEWID="8840">
<DATE>24-MAR-1987 12:01:07.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1520&#31;reute
r f BC-OLIVETTI-ADDS-COMPUTE   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>OLIVETTI ADDS COMPUTER, SOFTWARE TO PRODUCT LINE</TITLE>
<DATELINE>    IVREA, Italy, March 24 - </DATELINE><BODY>Ing C. Olivetti EC Spa &lt;OLIV.MI>
said a new computer and software have been added to its 3B Unix
computer line, which is developed by American Telephone and
Telegraph Co &lt;A> and distributed by Olivetti outside the U.S.
    Olivetti said in a statement that the new computer is
equipped with higher storage capacity and can support up to 64
simultaneous users.
    The new software will improve connections between 3B
systems and other manufacturers' systems and simplify display
and printing capabilities in various languages, Olivetti said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14362" NEWID="8841">
<DATE>24-MAR-1987 12:01:36.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1522&#31;reute
u f BC-BANCA-CATTOLICA-IN-10   03-24 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>BANCA CATTOLICA IN 100 MLN DLR CD ISSUE</TITLE>
<DATELINE>    VICENZA, Italy, March 24 - </DATELINE><BODY>Banca Cattolica del Veneto SpA
said it had signed an accord with Manufacturers Hanover Trust
Co of New York covering a 100 mln dlr certificates of deposit
issue in London.
    Maturities on the certificates will be between seven and
365 days.
    The bank said the issue would be placed with international
institutional and private investors.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14363" NEWID="8842">
<DATE>24-MAR-1987 12:01:49.98</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1523&#31;reute
f f BC-******FED'S-HELLER-AD   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED'S HELLER ADVOCATES COMMODITY PRICES AS GUIDE FOR MONETARY POLICY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14364" NEWID="8843">
<DATE>24-MAR-1987 12:02:47.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1528&#31;reute
b f BC-BAYERISCHE-VEREINSBAN   03-24 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>BAYERISCHE VEREINSBANK SELLS WARRANTS ON BONDS</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Bayerische Vereinsbank is issuing
100,000 "naked warrants' at 15 dlrs each, which are convertible
for up to one year into a 1,000 Australia dlr bond due April
30, 1992, said Merrill Lynch capital markets as lead manager.
    Payment is due April 30, 1987 and total fees are three pct.
Of that, there is a two pct selling concession with the
remainder a combined management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14365" NEWID="8844">
<DATE>24-MAR-1987 12:04:11.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1535&#31;reute
b f BC-BANCO-DI-SICILIA-INTE   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BANCO DI SICILIA INTERNATIONAL ISSUES EUROBOND</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Banco di Sicilia International SA is
issuing a 30 mln U.S. Dlr, zero coupon eurobond due April 15,
1992 and priced at 70.40, Nomura International Ltd said as
joint bookrunner.
    The bonds, which yield an effective 7.66 pct per annum,
will be listed in Luxembourg and will be issued in
denominations of 10,000 dlrs. They are guaranteed by Banco di
Sicilia.
    Gross fees of 1-1/4 pct comprise 1/2 pct for management and
underwriting combined and 3/4 pct for selling. Pay date is
April 15. The other joint bookrunner is Yasuda Trust and Banco
di Sicilia is co-lead.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14366" NEWID="8845">
<DATE>24-MAR-1987 12:06:59.80</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1553&#31;reute
b f BC-/FED-GOVERNOR-SUPPORT   03-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>FED GOVERNOR SUPPORTS COMMODITY PRICE GUIDE</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Robert Heller, a member of the Board
of Governors of the Federal Reserve System, said commodity
prices could form a useful guide for setting domestic and
international monetary policy.
    Speaking to the conservative Heritage Foundation, Heller
said, "A broadly based commodity price index may be worth
exploring" as a guide to monetary policy.
    "In times of rising commodity prices, monetary policy might
be tightened and in times of falling commodity prices, monetary
policy might be eased," he said.
    Commodities are also standardized to avoid measurement
problems and occur at the beginning of production so as to give
"early warning" signs of wholesale and retail changes.
    "There is no need to react to every small fluctuation in
commodity prices or to do so on a daily basis," Heller said in a
prepared text.
    "But if commodity prices exhibit a broad trend, a policy
action might be considered," he said.
    Heller said using a broad-based commodity price index as an
indicator for monetary policy would also contribute to
stabilized currency exchange rates.
    Commodity prices are generally uniform worldwide and prices
for them are more consistent than for other types of goods, he
said.
    He said other beneficial effects would be to stabilize
export commodity prices for developing countries by using a
commodity basket as a guidepost for monetary policy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14367" NEWID="8846">
<DATE>24-MAR-1987 12:07:12.11</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;f1554&#31;reute
b f BC-/K-MART-&lt;KM>-RAISES-P   03-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>K MART &lt;KM> RAISES PAYOUT, VOTES SPLIT</TITLE>
<DATELINE>    TROY, Mich., March 24 - </DATELINE><BODY>K mart Corp said its board approved
a 17.6 pct increase in the quarterly dividend and declared a
three-for-two stock split.
    The company raised its dividend to 43.5 cts a presplit
share, up from the previous 37 cts a share. After the split,
the new quarterly dividend rate is equivalent to 29 cts a
share. It is payable June Eight, record May 21.
    It said the additional shares will be distributed June
Five, record May 21.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14368" NEWID="8847">
<DATE>24-MAR-1987 12:12:09.52</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1591&#31;reute
f f BC-******AMERICAN-MOTORS   03-24 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN MOTORS MID-MARCH U.S. CAR SALES OFF 62 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14369" NEWID="8848">
<DATE>24-MAR-1987 12:13:04.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1597&#31;reute
b f BC-CHRYSLER-&lt;C>-MID-MARC   03-24 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> MID-MARCH U.S. CAR SALES DOWN</TITLE>
<DATELINE>    DETROIT, March 24 - </DATELINE><BODY>Chrysler Corp said its U.S. car sales
dipped 3.6 pct in the mid-March sales period.
    Chrysler said it sold 30,909 U.S. cars in the March 11-20
period, down from 32,085 in the same period last year.
    For the March 1-20 period, Chrysler's domestic car sales
were off 1.9 pct at 56,195 compared to 57,276 last year.
    Year-to-date, Chrysler's sales of its domestic cars dropped
12.9 pct to 188,156 from 215,793.
    Chrysler said its sales of trucks in the mid-March period
were 4.8 pct above the 1986 period at 19,020 against 18,145
last year.
    Truck sales for the March 1-20 period rose nine pct to
34,585 from 31,730 last year. Year-to-date truck sales were
121,616, up 8.8 pct from 111,743.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14370" NEWID="8849">
<DATE>24-MAR-1987 12:15:09.24</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;f1611&#31;reute
r f BC-SOUTHMARK-&lt;SM>-SELLS   03-24 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHMARK &lt;SM> SELLS NATIONAL HERITAGE STAKE</TITLE>
<DATELINE>    DALLAS, March 24 - </DATELINE><BODY>National Heritage Inc, a unit of
Southmark Corp, said it began an initial public offering of two
mln shares of common stock at a price of 9.50 dlrs a share.
    All the shares are being offered by National Heritage,
which will trade under symbol NHER on Nasdaq, through lead
underwriter Drexel Burnham Lambert Inc.
    Proceeds will be used to increase working capital, complete
renovations at leased facilities and repay certain debts to
Southmark.
    After the offer, Southmark will retain about 82 pct of the
11 mln outstanding common shares of National Heritage, which
operates 201 long-term nursing care facilities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14371" NEWID="8850">
<DATE>24-MAR-1987 12:15:19.47</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>uk</D><D>ghana</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1612&#31;reute
u f BC-GHANA-COCOA-PURCHASES   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>GHANA COCOA PURCHASES STILL AHEAD OF LAST YEAR</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The Ghana Cocoa Board said it purchased
456 tonnes of cocoa in the 23rd week, ended March 12, of the
1986/87 main crop season, compared with 684 tonnes the previous
week and 784 tonnes in the 23rd week ended March 20 of the
1985/86 season.
    Cumulative purchases so far this season stand at 217,235
tonnes, ahead of the 203,884 tonnes purchased by the 23rd week
of last season, the board said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14372" NEWID="8851">
<DATE>24-MAR-1987 12:15:49.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1615&#31;reute
r f BC-NV-PHILIPS-SHARES-MOV   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>NV PHILIPS SHARES MOVE FROM NASDAQ TO NYSE</TITLE>
<DATELINE>    EINDHOVEN, Netherlands, March 24 - </DATELINE><BODY>Dutch electronics group
N.V. Philips Gloeilampenfabrieken &lt;PGLO.AS> said it will move
its New York share listing, currently over the counter in the
Nasdaq system, to the New York Stock Exchange.
    Philips, listed on 17 European exchanges, said the move is
part of an effort to boost its profile in the U.S., Where 10
pct of all outstanding shares are held. The NASDAQ listing will
end with the start of the NYSE listing, a spokesman said.
    The NYSE told Philips it met conditions for a big board
listing, Philips said, adding it expects the change to be
effected in April, using the symbol PHG.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14373" NEWID="8852">
<DATE>24-MAR-1987 12:15:58.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1616&#31;reute
b f BC-AMERICAN-EXPRESS-UNIT   03-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN EXPRESS UNIT ISSUES NEW ZEALAND DLR BOND</TITLE>
<DATELINE>    London, March 24 - </DATELINE><BODY>American Express Overseas Credit Corp is
issuing a 50 mln New Zealand dlr bond due April 27, 1990
carrying a coupon of 18 pct and priced at 101-1/4, said Hambros
Bank Ltd as lead manager.
    The issue is guaranteed by American Express Co. Payment is
set for April 27, 1987 and the securities will be listed on the
Luxembourg stock exchange.
    There is a one pct selling concession and a 1/2 pct
combined underwriting and management fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14374" NEWID="8853">
<DATE>24-MAR-1987 12:16:38.85</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;f1620&#31;reute
u f BC-OWENS-ILLINOIS-&lt;OI>-A   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>OWENS-ILLINOIS &lt;OI> ACQUISITION COMPLETED</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>OII HoLdings Corp, a concern formed by
Kohlberg Kravis Roberts and Co, said it completed its
previously announced acquisition of Owens-Illinois Inc.
    Under terms of the February 10 agreement, OII paid 60.50
dlrs per common share and 363 dlrs per 4.75 dlrs convertible
preferred share.
    OII said each common share still outstanding at the time of
the merger has been converted into the right to receive 60.50
dlrs per share and all preference shares not converted will be
redeemd on April 22 at a redemption price of 100 dlrs per
preference share plus accrued and unpaid dividends.
    OII said it has assumed Owen's 3-3/4 pct sinking fund
debentures due June 1, 1988, 9.35 pct sinking fund debentures
due November 1, 1999, and 7-5/8 pct debentures due April 1,
2001.
    OII said the New York Stock Exchange said the securities
will be delisted as a result of the merger. OII said it is
anticipated that the securities will be traded in the over-the-
counter market.
    The surviving company will be known as Owen-Illinois Inc,
it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14375" NEWID="8854">
<DATE>24-MAR-1987 12:17:21.05</DATE>
<TOPICS><D>acq</D><D>gold</D><D>silver</D><D>zinc</D><D>lead</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1626&#31;reute
r f BC-HECLA-&lt;HL>-TO-BUY-MIN   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>HECLA &lt;HL> TO BUY MINE STAKE FROM BP &lt;BP> UNIT</TITLE>
<DATELINE>    COEUR D'ALENE, Idaho, March 24 - </DATELINE><BODY>Hecla Mining Co said it
has agreed to purchase a 28 pct interest in the Greens Creek
Joint Venture from British Petroleum Co PLC's Amselco Minerals
Inc unit.
    The venture expects to bring into production a
gold-silver-lead-zinc ore body on Admiralty Island, Alaska,
containing about 3,500,000 short tons of ore assaying about
0.18 ounce of gold, 24.0 ounces of silver, 9.7 pct zinc and 3.9
pct zinc per short ton, Hecla said.  It said there is
significant potential for the discovery of additional ore.
    Hecla said initial production from a trackless underground
mine is scheduled for late 1988 at a rate of about 1,000 tons
or ore per day.  "At this rate, the Greens Creek mine will be
the largest domestic silver mine and is expected to be one of
the lowest cost producers."
    The company said it estimates its total investment in the
project, including its share of preproduction costs, at about
45 mln dlrs, to be funded through internally generated cash and
existing lines of credit.  It said Amselco will retain a
majority interest in the project.  Other interest holders are
CSX Corp &lt;CSX> and &lt;Exaias Resources Corp>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14376" NEWID="8855">
<DATE>24-MAR-1987 12:18:17.96</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1634&#31;reute
u f BC-CHRYSLER,-LAMBORGHINI   03-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER, LAMBORGHINI STILL IN JOINT VENTURE TALKS</TITLE>
<DATELINE>    BOLOGNA, Italy, March 24 - </DATELINE><BODY>Joint venture talks that could
lead to Chrysler Corp &lt;C> taking a stake in Italian car maker
&lt;Automobili Lamborghini SpA> are continuing, a Lamborghini
spokesman said.
    He told Reuters the two companies are discussing a number
of topics ranging from "a joint venture in the production area
to Chrysler becoming a shareholding partner" in the Italian
firm.
    The spokesman declined to comment on whether Chrysler was
interested in acquiring control of Lamborghini or if the two
sides were close to an accord.
    He said the two companies are discussing the possibility of
jointly developing a sports car aimed primarily at the U.S.
Market.
    The spokesman said Chrysler officials in Detroit had
already visited Lamborghini's production plant in Bologna and
another visit may be scheduled.
    Lamborghini, which is controlled by the Mimran Group of
Switzerland, broke even last year on sales of 29 billion lire,
he said.
    Chrysler also holds a 15 pct interest in Italian sports car
producer &lt;Alfieri Maserati Spa>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14377" NEWID="8856">
<DATE>24-MAR-1987 12:18:29.51</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>bahrain</D><D>kuwait</D><D>ussr</D><D>iran</D><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1635&#31;reute
u f BC-MOSCOW-SUPPORTS-FREE   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MOSCOW SUPPORTS FREE GULF NAVIGATION, ENVOY SAYS</TITLE>
<DATELINE>    BAHRAIN, March 24 - </DATELINE><BODY>The Soviet Union supports the freedom
of navigation in the Gulf and does not support any act which
would cause the deterioration of the situation in the region,
its ambassador to Kuwait, Ernest Zverev, told the Kuwaiti news
agency KUNA.
    "We support the freedom of navigation in the Arabian Gulf
and the Strait of Hormuz," the agency quoted Zverev as saying.
    KUNA also said the envoy had discussed the deployment of
Iranian missiles near the Strait of Hormuz with Kuwaiti Foreign
Undersecretary Suliman Majed al-Shaheen.
    A British naval source in the Gulf said today Iran had
test-fired its new Silkworm missiles and set up launching sites
in the area.
    The tests had been successful and the missiles could be
used against shipping in the strait, the source added.
    But Iranian Parliamentary Speaker Hojatoleslam Akbar
Hashemi Rafsanjani said Iran did not need missiles to close the
strait because "we can close it with artillery only."
    The U.S. Has said it will not allow Iran to use missiles to
choke off oil shipments and offered its warships to escort
Kuwaiti tankers past the missile batteries in the strait.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14378" NEWID="8857">
<DATE>24-MAR-1987 12:19:45.66</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1644&#31;reute
u f BC-BELGIUM-DETAILS-PRICI   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIUM DETAILS PRICING PLAN FOR ECU GOLD COIN</TITLE>
<DATELINE>    BRUSSELS, March 24 - </DATELINE><BODY>The 50 European Currency Unit gold
coins which go on sale tomorrow in Belgium will be priced at a
premium of seven pct to the value of the gold they contain, a
Finance Ministry spokesman said. The price will be calculated
daily, based on the daily gold fixing in London.
    Belgium is minting an initial 50,000 gold coins to
celebrate the 30th anniversary of the European Community's
founding Treaty of Rome, but final production is expected to be
around 200,000. Each 17.27 gram coin will contain 55 grams of
fine metal.
    Two mln silver coins, face value five Ecus, will be sold at
500 francs each.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14379" NEWID="8858">
<DATE>24-MAR-1987 12:20:00.40</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;f1647&#31;reute
d f BC-DATA-ARCHITECTS-INC-&lt;   03-24 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA ARCHITECTS INC &lt;DRCH> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    WALTHAM, Mass., March 24 -
    </DATELINE><BODY>Shr 19 cts vs 14 cts
    Net 487,000 vs 344,000
    Revs 7,492,000 vs 5,883,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14380" NEWID="8859">
<DATE>24-MAR-1987 12:20:04.21</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;f1648&#31;reute
d f BC-PASSPORT-TRAVEL-INC-&lt;   03-24 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>PASSPORT TRAVEL INC &lt;PPTI> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    OVERLAND PARK, Kan., March 24 -
    </DATELINE><BODY>Shr two cts vs nil
    Net 20,406 vs 2,348
    Sales 6,191,000 vs 6,249,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14381" NEWID="8860">
<DATE>24-MAR-1987 12:20:10.69</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;f1649&#31;reute
d f BC-HI-SHEAR-INDUSTRIES-I   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>HI-SHEAR INDUSTRIES INC &lt;HSI> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    NORTH HILLS, N.Y., March 24 -
    </DATELINE><BODY>Oper shr 28 cts vs 33 cts
    Oper net 1,647,000 vs 1,910,000
    Revs 19.7 mln vs 17.5 mln
    Nine mths
    Oper shr 82 cts vs 84 cts
    Oper net 4,787,000 vs 8,748,000
    Revs 55.9 mln vs 53.0 mln
    NOTE: Prior year net excludes tax credits of 29,000 dlrs in
quarter and 1,761,000 dlrs in nine mths.
    Prior nine mths net includes gain from sale of real estate
of 3,820,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14382" NEWID="8861">
<DATE>24-MAR-1987 12:20:19.76</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;f1650&#31;reute
d f BC-PRUDENTIAL-RECORDS-BE   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>PRUDENTIAL RECORDS BEST RESULTS IN SIX YEARS</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>&lt;Prudential Corporation Plc>, which
earlier announced a 62 pct rise in 1986 pre-tax profits, said
it had recorded its best general insurance result for six years
but had not reached satisfactory levels of profit in other
areas.
    Group Chief Executive Brian Corby told a news conference
that despite returning to trading profits, the International
division and the Mercantile and General division had not
reached satisfactory levels.
    But he said he welcomed Mercantile and General trading
profits in 1986 and was optimistic about both that and the
International division.
    The acquisition of the U.S. Life company &lt;Jackson National>
had a small effect in 1986 but its full effect would be felt in
the 1987 results, Corby said.
    The Group also intended to expand the number of its estate
agency firms bought last year, and hoped they will comprise
between 10 and 15 pct of total company profits in the future.
    "We hope they will be very profitable very shortly. We are
looking for profits from the estate agencies themselves as well
as the insurance products associated with them," Corby said.
    Prudential's pre-tax profits rose from 1985's 110.1 mln stg
to 178.1 mln stg in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14383" NEWID="8862">
<DATE>24-MAR-1987 12:21:25.14</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;f1657&#31;reute
d f BC-GIANT-BAY-&lt;GBYLF>,-YE   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>GIANT BAY &lt;GBYLF>, YELLOWKNIFE &lt;GYK> APPROVE DEAL</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 24 - </DATELINE><BODY>Giant Bay Resources
Ltd said its and Giant Yellowknife Mines Ltd's directors
approved a previously announced plan to build and operate an
ore bioleach plant at Giant Yellowknife's Salmita Mill in the
Northwest Territories.
    It added that it also received regulatory approval for the
first of the private placements and warrants to be issued under
the pact.
    The program, expected to start operating by the end of
April, will cost about 750,000 dlrs, with Giant Bay's share
expected to total up to 450,000 dlrs, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14384" NEWID="8863">
<DATE>24-MAR-1987 12:23:06.81</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;f1667&#31;reute
u f BC-CRS-SIRRINE-(DA)-TO-T   03-24 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>CRS SIRRINE &lt;DA> TO TAKE WRITE-OFF</TITLE>
<DATELINE>    HOUSTON, March 24 - </DATELINE><BODY>CRS Sirrine Inc said it plans a major
restructuring of its balance sheet that will include a
write-off of between 39 mln and 43 mln dlrs, most of which
would be intangible goodwill from the company's past
acquisitions.
    The company said the remainder of its write-off would
include a one-time expense for future costs related to early
retirement programs, office consolidations and an increase in
the general reserve for adjustments and contingencies.
    Bruce Wilkinson, president of the company, said the charges
to the company's third quarter earnings, for the period ending
March 31, would "significantly impact" third quarter results
but would not affect the company's cash position.
    "We expect to have the biggest operating backlog in the
company's history by June 30, 1987, the end of our fiscal
year," Wilkinson said. "We believe the action being proposed
will begin to contribute to improved earnings in the fourth
quarter of our fiscal 1987 and throughout fiscal 1988."
    The company, which is one of the nation's largest
construction firms, also said termination of its defined
benefit retirement plan would produce a pre-tax benefit of
about 10 mln dlrs due to overfunding of the plan.
    In its second quarter ended Dec. 31, CRSS had net earnings
of 800,000 dlrs on revenues of 82.5 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14385" NEWID="8864">
<DATE>24-MAR-1987 12:23:53.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1671&#31;reute
u f BC-RESORTS-INT'L-&lt;RT.A>   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>RESORTS INT'L &lt;RT.A> TO MAKE STATEMENT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>A Resorts International Inc spokesman
said the company will make a statement later today regarding
its class A and class B &lt;RT.B> common stock.
    The American Stock Exchange halted trading in the shares
this morning because of the pending announcement. The A shares
last traded at 58-3/4 and the B shares at 130-1/2, the exchange
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14386" NEWID="8865">
<DATE>24-MAR-1987 12:24:54.33</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;f1673&#31;reute
u f BC-FLOWERS-INDUSTRIES-IN   03-24 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>FLOWERS INDUSTRIES INC &lt;FLO> 3RD QTR MARCH 7</TITLE>
<DATELINE>    THOMASVILLE, Ga., March 24 - </DATELINE><BODY>March 7 end
    Shr 17 cts vs 23 cts
    Net 3,998,000 vs 5,317,000
    Sales 189.4 mln vs 159.6 mln
    Nine mths
    Shr 64 cts vs 68 cts
    Net 14.9 ln vs 15.9 mln
    Sales 540.9 mln vs 464.7 mln
    NOTE: Twelve and 36-week periods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14387" NEWID="8866">
<DATE>24-MAR-1987 12:26:55.99</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;f1681&#31;reute
u f BC-FLOWERS-INDUSTRIES-&lt;F   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FLOWERS INDUSTRIES &lt;FLO> SEES LOWER YEAR NET</TITLE>
<DATELINE>    THOMASVILLE, Ga., March 24 - </DATELINE><BODY>Flowers Industries Inc said it
expects lower earnings for the current year due to operating
losses incurred by recent acquisitions and possible
nonrecurring losses resulting from its restructuring efforts.
    For the year ended June 28, Flowers earned 29.5 mln dlrs.
Today it reported nine month earnings of 14.9 mln dlrs, down
from 15.9 mln dlrs a year before.
    Flowers said it expects fiscal 1988, however, to show the
best growth in profits in its history due to the growing
profitability of ongoing businesses, cost control efforts,
higher productvitiy and lower taxes.
    Flowers said losses suffered in its West Texas operations
and in five plants acquired at the start of the third quarter
from &lt;CFS Staley Continental> and &lt;Wolf Baking Co> severely
hurt results.
    It said the CFS and Wolf plants are expected to be
contributing to profit by the end of the fiscal year and it is
seeking to bring the West Texas operations to acceptable levels
of profitability by the end of the fourth quarter as well.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14388" NEWID="8867">
<DATE>24-MAR-1987 12:32:38.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1700&#31;reute
b f BC-LEEDS-PERMANENT-ISSUE   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>LEEDS PERMANENT ISSUES 50 MLN STG BOND</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Leeds Permanent Building Society is
issuing a 50 mln stg offering of notes due April 23, 1992
carrying a coupon of 9-1/4 pct and priced at 100-7/8, said
Barings Securities Co as lead manager.
    Bankers Trust International is co-lead manager.
    The issue is partly paid, with only 20 pct of the payment
due on April 23 and the remainder due October 23. The issue is
priced to yield 50 basis points over comparable maturity gilts.
    There is a 1-1/4 pct selling concession and a 5/8 pct
management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14389" NEWID="8868">
<DATE>24-MAR-1987 12:34:04.65</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;f1711&#31;reute
d f BC-TECHNITROL-INC-&lt;TNL>   03-24 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>TECHNITROL INC &lt;TNL> 4TH QTR</TITLE>
<DATELINE>    PHILADELPHIA, March 24 -
    </DATELINE><BODY>Shr 54 cts vs 47 cts
    Net 1.1 mln vs 941,000
    REvs 8.9 mln vs 10.3 mln
    Year
    Shr 1.65 dlrs vs 1.64 dlrs
    Net 3.3 mln vs 3.3 mln
    Revs 37.4 mln vs 39.0 mln
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14390" NEWID="8869">
<DATE>24-MAR-1987 12:34:10.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1712&#31;reute
d f BC-MEDICAL-&lt;MDCI>-GETS-H   03-24 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDICAL &lt;MDCI> GETS HUMANA &lt;HUM> CONTRACT</TITLE>
<DATELINE>    FARMINGDALE, N.Y., March 24 - </DATELINE><BODY>Medical Action Industries Inc
said it got a contract from Humana Inc &lt;HUM> to supply Humana
with lap sponges, used mainly during surgery to cover exposed
internal organs.
    Medical said the contract could provide reveneus of more
than one mln dlrs over a two-year period. For the fiscal year
ended March 31, Medical reported revenues of 14.8 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14391" NEWID="8870">
<DATE>24-MAR-1987 12:34:34.79</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1715&#31;reute
f f BC-******GENERAL-MOTORS   03-24 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GENERAL MOTORS CORP MID-MARCH CAR SALES OFF 15.5 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14392" NEWID="8871">
<DATE>24-MAR-1987 12:35:47.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1722&#31;reute
u f BC-FRANCE'S-CNE-ISSUES-6   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE'S CNE ISSUES 650 MLN FRANC DOMESTIC BOND</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>Caisse Nationale de l'Energie is issuing
a 650 mln franc, 8.70 pct bond, due October 13, 1997 at par,
lead managers Banque National de Paris and Union de Garantie et
de Placement said. Societe Marseillaise de Credit is co-lead.
    The issue, announced earlier today by the French bond
issuing committee, is of 5,000 franc nominal bonds. The first
coupon of 213.50 francs will be paid on October 13, 1987 and
thereafter on April 13 each year.
    Each bond is accompanied by a warrant giving the right to
subscribe, from September 1 to 30, 1987, to a new CNE 8.70 pct
bond due October 1997 with a par issue price.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14393" NEWID="8872">
<DATE>24-MAR-1987 12:36:00.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1724&#31;reute
d f BC-AMC-MID-MARCH-U.S.-CA   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>AMC MID-MARCH U.S. CAR SALES OFF 62 PCT</TITLE>
<DATELINE>    SOUTHFIELD, MICH., March 24 - </DATELINE><BODY>American Motors Corp said
U.S. car sales for the March 11 to 20 period dropped 62 pct to
790 from 2,100 cars in the same period a year ago.
    There were nine selling days in both years.
    Domestic sales for March 1 through 20 declined 60 pct to
1,550 cars from 3,880 cars in the comparable period of 1986,
American Motors said.
    For the calendar year-to-date, American Motors said
domestic car sales decreased 61 pct to 6,472 from 16,741 cars
last year.
    American Motors is 46 pct owned by Renault.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14394" NEWID="8873">
<DATE>24-MAR-1987 12:36:18.81</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1726&#31;reute
u f BC-/ALCAN-UPS-ALUMINIUM   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>ALCAN UPS ALUMINIUM INGOT AND BILLET PRICES</TITLE>
<DATELINE>    New York, March 24 - </DATELINE><BODY>Alcan Aluminium Ltd. in Montreal said
it increased yesterday its prices for unalloyed ingot and
extrusion billet by two cents a lb, effective with shipments
beginning May 1.
    The new price for unalloyed ingot is 64.5 cents a lb while
the new price for extrusion billet is 72.5 cents a lb.
    "We feel very confident about raising our prices because we
see demand over supply as being sustainable for some time,"
said Ian Rugeroni, Alcan's president of metal sales and
recycling - U.S.A.
    Rugeroni said sheet and can bookings for Alcan aluminium
were up at a time when the company's total 1.1 mln tonne North
American smelter system had less than a week's supply.
    "We're short and we're buying," he said.
    Rugeroni added that Alcan expects the International Primary
Aluminum Institute to report a drop in total non-Socialist
stocks in February and March. He estimated supply in the latter
month will have fallen 100,000 to 150,000 tonnes, based in part
on current low inventories of aluminium in Japan and on the
London Metal Exchange.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14395" NEWID="8874">
<DATE>24-MAR-1987 12:38:45.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1739&#31;reute
b f BC-AMC-&lt;AMO>-MID-MARCH-U   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>AMC &lt;AMO> MID-MARCH U.S. CAR SALES OFF 62 PCT</TITLE>
<DATELINE>    SOUTHFIELD, MICH., March 24 - </DATELINE><BODY>American Motors Corp said
U.S. car sales for the March 11-20 period dropped 62 pct to 790
from 2,100 cars in the same period a year ago.
    There were nine selling days in both years.
    Domestic sales for March 1 through 20 declined 60 pct to
1,550 cars from 3,880 cars in the comparable period of 1986,
American Motors said.
    For the calendar year-to-date, American Motors said
domestic car sales decreased 61 pct to 6,472 from 16,741 cars
last year.
    American Motors is 46 pct owned by Renault.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14396" NEWID="8875">
<DATE>24-MAR-1987 12:41:15.88</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;f1742&#31;reute
b f BC-/GM-&lt;GM>-MID-MARCH-CA   03-24 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> MID-MARCH CAR SALES OFF 15.5 PCT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>General Motors Corp said car sales for
March 11 through 20 were off 15.5 pct to 109,174 from 129,242 a
year earlier.
    The company said truck sales were off 8.8 pct to 45,015
from 49,365 a year before.
    For the year to date, GM said car sales were off 25.1 pct
to 738,262 from 986,211 a year before and truck sales were off
9.6 pct to 292,387 from 323,401 a year before.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14397" NEWID="8876">
<DATE>24-MAR-1987 12:43:12.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1749&#31;reute
r f BC-UNIVERSITY-&lt;UPT>-TO-S   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>UNIVERSITY &lt;UPT> TO SUPPLY INTRAOCULAR LENSES</TITLE>
<DATELINE>    WESTPORT, Conn., March 24 - </DATELINE><BODY>University Patents Inc said its
University Optical Products Co subsidiary signed an agreement
to supply intraocular lenses to a "major international"
manufacturer and distributor based in the U.S.
    Details of the agreement were not disclosed but University
said its optical unit will now produce about 3,000 intraocular
lenses each month for sale outside the U.S.
    Intraocular lenses are used as a replacement for the eye's
natural lenses which must be removed during cataract surgery.
University said over a million cataract removals occur each
year in the U.S.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14398" NEWID="8877">
<DATE>24-MAR-1987 12:44:03.13</DATE>
<TOPICS><D>acq</D><D>gold</D><D>silver</D><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1752&#31;reute
r f BC-CORRECTED-HECLA-&lt;HL>   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED-HECLA &lt;HL> TO BUY MINE STAKE FROM BP</TITLE>
<DATELINE>    COEUR D'ALENE, Idaho, March 24 - </DATELINE><BODY>Hecla Minging Co said it
has agreed to purchase a 28 pct interest in the Greens Creek
Joint Venture from British Petroleum Co PLC's &lt;BP> Amselco
Minerals Inc unit.
    The venture expects to bring into production a
gold-silver-lead-zinc ore body on Admiralty Island, Alaska,
containing about 3,500,000 short tons of ore assaying about
0.18 ounce of gold, 24.0 ounces of silver, 9.7 pct zinc and 3.9
pct lead per short ton, Hecla said.  It said there is
significant potential for the discovery of additional ore.
    Corrects last assay result to lead from zinc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14399" NEWID="8878">
<DATE>24-MAR-1987 12:44:17.32</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1754&#31;reute
f f BC-Nigeria,-Britain-agre   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Nigeria, Britain agree rescheduling of official debt - government sources
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14400" NEWID="8879">
<DATE>24-MAR-1987 12:44:54.72</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;f1756&#31;reute
r f BC-GENERAL-NUTRITION-INC   03-24 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL NUTRITION INC &lt;GNC> 4TH QTR NET</TITLE>
<DATELINE>    PITTSBURGH, March 24 - </DATELINE><BODY>Qtr ends Jan 31
    Shr profit eight cts vs loss 38 cts
    Net profit 2,466,000, vs loss 12,691,000
    Revs 111.1 mln vs 106.8 mln
    12 mths
    Shr profit 20 cts vs loss 47 cts
    Net profit 6,591,000 vs loss 15.5 mln
    Revs 342.6 mln vs 370.4 mln
    NOTE: includes provision for store closings of foreign
operations of 3,897,000 for 1986 qtr, and 1,403,000 for qtr
prior.
    includes provision for store closing costs and unproductive
inventory of 1,000,000 for 1986 qtr, and 25.1 mln for qtr
prior.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14401" NEWID="8880">
<DATE>24-MAR-1987 12:46:56.00</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;f1759&#31;reute
r f BC-CP-AIR,-PACIFIC-WESTE   03-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CP AIR, PACIFIC WESTERN AIRLINES SET NEW NAME</TITLE>
<DATELINE>    VANCOUVER, B.C., March 24 - </DATELINE><BODY>&lt;Pacific Western Airlines Corp>
said the airline resulting from the previously announced merger
of its Pacific Western Airlines Ltd unit and Canadian Pacific
Air Lines Ltd would be named Canadian Airlines International
Ltd, effective April 26.
    Pacific Western said the two airlines' services and
schedules would also be integrated on April 26. It previously
appointed management for the new airline.
    The new airline, Canada's second largest, will have 81
planes flying to 89 destinations in 13 countries.
    Pacific Western recently acquired Canadian Pacific Airlines
for 300 mln dlrs from Canadian Pacific Ltd &lt;CP>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14402" NEWID="8881">
<DATE>24-MAR-1987 12:53:11.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>nigeria</D></PLACES>
<PEOPLE><D>okongwu</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1780&#31;reute
r f BC-NIGERIA,-BRITAIN-TO-R   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>NIGERIA, BRITAIN TO RESCHEDULE OFFICIAL DEBT</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Nigeria and Britain signed an agreement
to reschedule Nigeria's official debts in the first of an
expected series of such talks, government sources said.
    The agreement was signed by Nigerian Finance Minister Chu
Okongwu and the Export Credits Guarantee Department's (ECGD)
chief executive Jack Gill.
    The Nigerians will go on to Paris for similar bilateral
talks tomorrow with Coface, the French export credit agency.
    Today's agreement follows an agreement between Nigeria and
the Paris Club of western creditor governments in December to
reschedule some 7.5 billion dlrs of official debt.
    The Paris Club agreement was for a rescheduling of the 7.5
billion dlrs of medium and long-term debt due between September
1986 and end 1987 over 10 years with five years grace.
    But as with all Paris Club pacts, specific interest rates
and other details have to be negotiated on a bi-lateral basis
with the countries involved. None of the details contained in
today's negotiations was immediately available.
    The Nigerians are hoping that further bilateral accords can
be struck fairly soon as this could encourage official export
credit agencies to renew insurance cover for exports to
Nigeria.
    The ECGD suspended its cover for exports to Nigeria in
1983. Despite the success of the talks over the past two days,
govenment sources said there had not been any discussions on
new credits.
    Nigeria is due to receive 900 mln dlrs in fresh export
credits this year from official agencies under a structrual
adjustment program drawn up by Nigeria and the World Bank to
support a rescheduling of part of the country's 19 billion dlr
foreign debt.
    But these credits cannot be approved until the export
credit agencies agree to resume insuring the debts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14403" NEWID="8882">
<DATE>24-MAR-1987 12:54:50.93</DATE>
<TOPICS><D>crude</D><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;f1785&#31;reute
r f BC-DRAWDOWN-SEEN-IN-U.S.   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>DRAWDOWN SEEN IN U.S. DISTILLATE STOCKS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Tonight's American Petroleum Institute
oil inventory report is expected to show another drawdown in
distillate stocks of between two and 7.5 mln barrels for the
week ending March 20, oil analysts and traders said.
    They said they expect gasoline inventories to be depleted
by about one to four mln barrels.
    Analysts were divided on the crude stocks. Some saw stocks
unchanged to as much as three mln barrels higher. Others said
stocks could be down one to five mln barrels. Crude throughput
volumes are expected to be unchanged to slightly higher or
lower than the week ended March 13, traders said.
    The API recorded a 7.4 mln barrel stockdraw for U.S.
distillates in the week ended March 13. Analysts see another 
draw reflecting historic seasonal trends.
    For the week ended March 13, API reported gasoline stocks
down 2.9 mln barrels.
    Those expecting a draw of as much as four mln barrels said
they are looking for fairly high consumption rates as the
spring and summer driving season gets underway this year,
because retail prices are still low compared to recent years.
    U.S. crude oil stocks were reported down by 4.4 mln barrels
for the week ended March 13. Analysts are divided over the
outcome for last week because there is uncertainty about
whether throughput levels increased or decreased last week.
    Some see crude stock levels unchanged to three mln barrels
higher, while others think inventories could be as much as five
mln barrels below the previous week.
    The lower estimates are supported by the belief that crude
runs increased and imports fell.
    The API reported crude runs 154,000 b/d higher for the week
ended March 13. Analysts are calling it unchanged to slightly
up or down for the week ended March 20.
    Expectations for product stockdraws are already being
reflected in firmer prices, traders said. But if draws are at
the higher end of the estimated range, they added, the effect
will be bullish. Any stockbuild would be a negative factor,
they said.
    Crude runs normally increase in March, and any decrease in
runs would be friendly to the market, said Peter Beutel of
Elders Energy Futures Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14404" NEWID="8883">
<DATE>24-MAR-1987 12:55:56.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1790&#31;reute
u f BC-AMERICAN-HONDA-MID-MA   03-24 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN HONDA MID-MARCH U.S. CAR SALES UP</TITLE>
<DATELINE>    DETROIT, Mich., March 24 - </DATELINE><BODY>American Honda Motor Corp said
its sales of domestic cars in the March 11 through 20 sales
period increased to 7,447 from 5,031 in the same period last
year.
    The Japanese-based automaker said it sold 11,841 U.S. cars
in the March 1 through 20 period, up from 8,817 in the same
1986 period.
    Year-to-date, Honda said it sold 59,590 U.S. cars compared
to 36,717 last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14405" NEWID="8884">
<DATE>24-MAR-1987 13:07:40.34</DATE>
<TOPICS><D>money-fx</D><D>stg</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;f1838&#31;reute
u f BC-STERLING-OUTLOOK-CLOU   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>STERLING OUTLOOK CLOUDED BY TEST OF PARIS ACCORD</TITLE>
<AUTHOR>    By Myra MacDonald, Reuters</AUTHOR>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The move by foreign exchange markets to
test the strength of the Paris currency accord has thrown into
question the near-term outlook for sterling, until recently one
of the main beneficiaries of the agreement, analysts said.
    Since the six-nation accord last month, sterling has risen
sharply, adding almost five pct on its trade-weighted index.
    While the accord effectively stifled dollar/yen and
dollar/mark movements, the markets turned their attention to
sterling as foreign investors rushed to take advantage of
relatively high U.K. Interest rates.
    But analysts say the pound has been sidelined by the first
tentative test of the Paris accord seen yesterday.
    The market now looks set sooner or later to push the dollar
down further in a test of the willingness of central banks to
intervene. Analysts say if the banks do not intervene
effectively, the Paris accord could collapse.
    "On balance, sterling would be a net sufferer if G-6
collapses," Phillips and Drew analyst Stephen Lewis said.
    He said sterling would lose out as markets turned their
attention to capital movements whereas previously they had been
restricted to looking only at the interest yield on currencies.
    However, although most analysts and foreign exchange
dealers were forecasting a brief period of consolidation or
even retracement for sterling, none were expecting a very sharp
drop in the U.K. Currency.
    Sterling remained supported by optimism on the U.K.
Political and economic outlook, firmer oil prices and
relatively high interest rates, they said.
    Bullish sentiment on the U.K. Economic outlook has been
running especially high after last week's budget, seen as
popular both with the markets and with British voters.
    Sterling was also supported by signs of a weakening in the
West German and Japanese economies, where growth for 1987 is
trailing behind the three pct forecast for the U.K.
    Recent opinion polls showing Britain's ruling conservative
party ahead of opposition parties in popularity have also
supported the pound.
    In addition, sterling has so far shrugged off two
half-point cuts in U.K. Bank base lending rates in less than
two weeks. A further half-point cut, widely expected in the
next week or so, has already been largely discounted.
    U.K. Base rates, now running at 10 pct, are still
relatively high compared to other western countries, and
analysts said a further base rate cut to 9-1/2 pct was unlikely
to affect sterling.
    Sterling today appeared resilient to the dollar's decline,
dropping only slightly on a cross-rate basis.
    Worries about renewed turbulence in the foreign exchange
markets, however, were reflected in the U.K. Government bond
(gilt) market, where prices dropped by up to 5/16 point.
    Until now foreign investor interest in the gilt market has
been one of the major reasons behind the rise in sterling.
    Dealers said they expected the pound to hold quietly steady
for the next few days while the market awaits further
developments on the dollar and this Thursday's U.K. Current
account figures for February.
    Market forecasts are for a deficit of around 250 mln stg
after January's small surplus.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14406" NEWID="8885">
<DATE>24-MAR-1987 13:09:00.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F RM
&#22;&#22;&#1;f1841&#31;reute
r f AM-BANK   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. EX-IM BANK TO CHANGE LENDING POLICIES</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The president of the Export-Import
Bank said the Bank was changing its lending policies to reflect
changing conditions in export financing.
    President John Bohn told a House Appropriations
subcommittee hearing commercial banks have largely withdrawn
from financing exports and export projects were becoming
smaller.
    "Exporters now need financing in riskier markets and on
deals which are smaller, take longer to put together and
close," Bohn said in his testimony. "Lenders, however, want
less risk, higher profit, transaction-oriented and less
labor-intensive activities.
    "It became clear to us the EXimbank must assume a broader
range of explicitly defined country and transaction risks than
it has previously. Programs and procedures need to be
simplified, streamlined and internally consistent," he said.
    Bohn said the Bank would focus on the needs of the middle
market product or service exporter and would have essentially
one loan program and one guarantee program for both medium-term
and long-term export transactions.
    "Both programs will provide up to 85 pct financing, the
maximum permitted under the OECD consensus. Eximbank loans will
carry the minimum interest rate allowed by the OECD rate
schedule for the market and the term," he said.
    Bohn said the Bank was requesting a limitation of 1 billion
dlrs for regular loan obligations, of which up to 200 mln dlrs
may be available as tied aid credits, and a limitation of 10
billion dlrs for guarantee and insurance commitments.
    He said the Bank would have to come back to Congress later
this year to discuss its capitalization needs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14407" NEWID="8886">
<DATE>24-MAR-1987 13:10:25.84</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;f1847&#31;reute
u f BC-NASD-PRESIDENT-LEAVES   03-24 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>NASD PRESIDENT LEAVES FOR HAMBRECHT AND QUIST</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>&lt;Hambrecht and Quist Group> said
Gordon Macklin has resigned as president of the &lt;National
Association of Securities Dealers> to become chairman and
co-chief executive officer of Hambrecht and Quist.
    The San Francisco brokerage firm said Macklin is expected
to join it by July.
    As chairman, he succeeds Hugh T. Wyles.
    The other chief executive officer is founder William R.
Hambrecht.
    In Washington, the NASD said MAcklin has offered to stay on
until a new president is named.  It said it will soon appoint a
committee to begin the search for a successor.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14408" NEWID="8887">
<DATE>24-MAR-1987 13:11:23.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1853&#31;reute
r f BC-WEDGESTONE-REALTY-&lt;WD   03-24 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>WEDGESTONE REALTY &lt;WDG> FILES FOR OFFERING</TITLE>
<DATELINE>    NEWTON, Mass., March 23 - </DATELINE><BODY>Wedgestone Realty Investors Trust
said it has filed for an offering of 1,250,000 common shares
through underwriters led by Ladenburg, Thalmann and Co and
Moseley Holding Corp &lt;MOSE>.
    It said the offering is expected to be made in mid-April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14409" NEWID="8888">
<DATE>24-MAR-1987 13:12:04.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1857&#31;reute
r f BC-NEW-JERSEY-RESOURCES   03-24 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW JERSEY RESOURCES &lt;NJR> SHARES OFFERED</TITLE>
<DATELINE>    WALL, N.J., March 24 - </DATELINE><BODY>New Jersey Resources Corp said an
offering of 1,300,000 common shares is underway at 19.625 dlrs
per share through underwriters led by Merrill Lynch and Co Inc
&lt;MER> and E.F. Hutton Group Inc &lt;EFH>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14410" NEWID="8889">
<DATE>24-MAR-1987 13:12:23.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1860&#31;reute
r f BC-EPITOPE-&lt;EPTO>-SETS-A   03-24 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>EPITOPE &lt;EPTO> SETS ANTIBODIES FOR AIDS RESEARCH</TITLE>
<DATELINE>    BEAVERTON, Ore., March 24 - </DATELINE><BODY>Epitope Inc said it has
developed a complete panel of monoclonal antibodies to the AIDS
virus that can be used for AIDS research.
    The company said it will begin marketing the panel
immediately.
    It said the monoclonals recognize different protein
portions of the AIDS viurs and will be used in research for 
AIDS diagnosis and therapy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14411" NEWID="8890">
<DATE>24-MAR-1987 13:12:31.22</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;f1861&#31;reute
d f BC-PLENUM-PUBLISHING-COR   03-24 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>PLENUM PUBLISHING CORP &lt;PLEN> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Shr 63 cts vs 45 cts
    Net 3,623,067 vs 2,607,977
    Gross income 10.1 mln vs 10.1 mln
    Year
    Shr 2.12 dlrs vs 1.74 dlrs
    Net 12.2 mln vs 10.0 mln
    Gross income 38.1 mln vs 36.8 mln
    NOTE: Share adjusted for five-for-two stock split effective
yesterday.
    Net includes gains on sale of securities pretax of
1,860,213 dlrs vs 392,975 dlrs in quarter 5,023,401 dlrs vs
3,223,008 dlrs in year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14412" NEWID="8891">
<DATE>24-MAR-1987 13:12:40.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1862&#31;reute
d f BC-PLENUM-&lt;PLEN>-REINCOR   03-24 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>PLENUM &lt;PLEN> REINCORPORATES IN DELAWARE</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Plenum Publishing Corp said it has
reincorporated in Delaware following shareholder approval
yesterday.
    It said in copnnection with the change -- it had been
incorporated in New York -- a five-for-two stock split has gone
into effect.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14413" NEWID="8892">
<DATE>24-MAR-1987 13:13:16.88</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;f1866&#31;reute
d f BC-HONEYBEE-INC-&lt;HBE>-4T   03-24 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>HONEYBEE INC &lt;HBE> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Oper shr 11 cts vs five cts
    Oper net 248,000 vs 122,000
    Sales 7,269,000 vs 5,481,000
    Year
    Oper shr 55 cts vs 14 cts
    Oper net 1,288,000 vs 333,000
    Sales 26.2 mln vs 17.6 mln
    NOTE: Net excludes discontinued operations nil vs gain
103,000 dlrs in quarter and losses 82,000 dlrs vs 50,000 dlrs
in year.
    1986 year net excludes 133,000 dlr provision for loss on
disposal of discontinued operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14414" NEWID="8893">
<DATE>24-MAR-1987 13:13:22.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1867&#31;reute
d f BC-SCIENTIFIC-MEASUREMEN   03-24 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>SCIENTIFIC MEASUREMENT SYSTEMS INC &lt;SCMS> NET</TITLE>
<DATELINE>    AUSTIN, Texas, March 24 - </DATELINE><BODY>2nd qtr Jan 31
    Shr loss three cts vs loss seven cts
    Net loss 352,000 vs loss 568,000
    Revs 636,000 vs 640,000
    Avg shrs 12.7 mln vs 8,377,000
    1st half
    Shr loss six cts vs loss 10 cts
    Net loss 594,000 vs loss 865,000
    Revs 1,245,000 vs 1,063,000
    Avg shrs 10.5 mln vs 8,333,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14415" NEWID="8894">
<DATE>24-MAR-1987 13:13:31.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1868&#31;reute
d f BC-RIBI-&lt;RIBI>-SIGNS-PAC   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>RIBI &lt;RIBI> SIGNS PACT WITH TRAVENOL &lt;BAX></TITLE>
<DATELINE>    HAMILTON, Montana, March 24 - </DATELINE><BODY>Ribi ImmunoChem Research Inc
said Baxter Travenol Laboratories Inc's Travenol Laboratories
Inc unit will evaluate whether one of its products can be used
to prevent infectious disease.
    Under an agreement, Ribi said Travenol will conduct studies
with the product, monophosphoryl lipid A, and will have the
option to pursue a woldwide license for the product.
    Ribi said the product is used in combination with other
agents in experimental treatments to boost the function of the
immune system in patients suffering from malignant melanoma and
other cancers.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14416" NEWID="8895">
<DATE>24-MAR-1987 13:13:41.43</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>belgium</D><D>uk</D><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1869&#31;reute
r f BC-EC-MEMBER-STATES-COOL   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>EC MEMBER STATES COOL ON CEREAL PLANS</TITLE>
<DATELINE>    BRUSSELS, March 24 - </DATELINE><BODY>European Community (EC) member states
have generally given a cool initial reaction to proposals by
the European Commission for cereal price changes and related
measures in the coming season, EC diplomats said.
    They said that in meetings of the EC Special Committee on
Agriculture representatives of most member states had said the
changes, taken together, would have too harsh an impact on
farmers' incomes.
    Only Britain and the Netherlands had shown willingness to
accept the commission's overall package, they said.
    As well as cuts of over two pct in common prices for most
cereals, the commission proposes a limitation of intervention
to the February to March period and reduced monthly increments
in intervention prices.
    EC Farm Ministers will have a first discussion of the
proposals at a meeting beginning next Monday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14417" NEWID="8896">
<DATE>24-MAR-1987 13:13:51.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1870&#31;reute
u f BC-ATT-&lt;T>-FORMS-COMPUTE   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>ATT &lt;T> FORMS COMPUTER SALES GROUPS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>American Telephone and Telegraph Co
said it formed a 600-member sales force dedicated exclusively
to its computers and other data systems products.
    Separately, ATT denied reports that it plans to buy back a
large chunk of its stock. ATT's stock was up 1/4 points at
25-1/8 in heavy trading.
    The company said it also created a separate 600-member team
that will educate the computer sales force and its other sales
groups on ATT's computer products. This group, ATT said,
reports directly to Vittorio Cassoni, senior vice president of
its computer unit, called the Data Systems division.
    Cassoni, speaking at a news conference at which ATT
unveiled its most powerful mid-range computer, said the sales
groups will provide a "sharper focus" to ATT's computer
marketing efforts.
    The executive, hired from Olivetti to bolster ATT's
unsuccessful campaign to become a major vendor of computer
gear, also said the company is committed to its 3B line of
mid-range computers. He said ATT backed the 3B line despite
widespread criticism throughout the industry that it is
inferior to mid-range systems made by International Business
Machines Corp &lt;IBM>, Digital Equipment Corp &lt;DEC> and others.
    Cassoni, however, said ATT would strenghten the 3B line
within the next three or four months. He said ATT will offer
new, more powerful mid-range computers that will protect the
investments of existing 3B users in ATT hardware and software.
    In justifying the company's commitment to the 3B line,
which was originally developed for internal use by ATT and its
former Bell telephone company units, Cassoni pointed to several
recent sales that he said proved the mid-range line's
commercial viability.
    One example he provided was a recent 34 mln dlr deal ATT
signed with the United States Postal Service.
    Cassoni also said ATT will announce a new personal computer
based on the powerful 80386 microprocessor from Intel Corp
&lt;INTC>.
   Compaq Computer Corp &lt;CPQ> is already selling a 386-based PC
and IBM is widely expected to announce a 386 machine sometime
this year.
   Cassoni said the Data Systems division is unprofitable and
that it will take "a couple of years" for the division to meet
its goal of making a "substantial contribution to ATT's
earnings stream." But, he added, the division is "approaching"
the point where it can start making money.
    Cassoni said the new products introduced today are "a very
significant step to foster our efforts in the computer
business."
    Among the new offerings is the 3B2/600 minicomputer, which
ATT said can provide up to four times the processing power of
the 3B2/400, previously its biggest computer.
    But with a top speed of 4.0 mips, or million instructions
per second, the top-of-line 3B cannot match the computing power
of rival systems from IBM and DEC.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14418" NEWID="8897">
<DATE>24-MAR-1987 13:14:06.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1873&#31;reute
h f BC-HOME-INTENSIVE-&lt;KDNY>   03-24 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>HOME INTENSIVE &lt;KDNY> OPENS TWO DIALYSIS UNITS</TITLE>
<DATELINE>    NORTH MIAMI BEACH, Fla., March 24 - </DATELINE><BODY>Home Intensive Care Inc
said it operned two more Dialysis at Home offices, bringing to
11 the total number of such offices nationwide.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14419" NEWID="8898">
<DATE>24-MAR-1987 13:14:10.03</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;f1874&#31;reute
s f BC-PUBLIC-SERVICE-CO-OF   03-24 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>PUBLIC SERVICE CO OF COLORADO &lt;PSR> IN PAYOUT</TITLE>
<DATELINE>    DENVER, March 24 -
    </DATELINE><BODY>Qtly div 50 cts vs 50 cts prior
    Pay May One
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14420" NEWID="8899">
<DATE>24-MAR-1987 13:16:54.32</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;f1883&#31;reute
r f BC-CORRECTED---MANHATTAN   03-24 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED - MANHATTAN NATIONAL CORP &lt;MLC> 4TH</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Oper shr loss 20 cts vs loss 81 cts
    Oper net loss 1,042,000 vs loss 4,077,000
    Revs 38.5 mln vs 50.3 mln
    12 mths
    Oper shr loss six cts vs loss 43 cts
    Oper net loss 336,000 vs loss 2,176,000
    Revs 137.8 mln vs 209.1 mln
    NOTE: In item moved March 23, company corrects its error to
show loss for current 12 mths and qtr, not profit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14421" NEWID="8900">
<DATE>24-MAR-1987 13:17:10.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1885&#31;reute
d f BC-GM-MID-MARCH-CAR-SALE   03-24 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>GM MID-MARCH CAR SALES OFF 15.5 PCT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>General Motors Corp said car sales for
March 11 through 20 were off 15.5 pct to 109,174 from 129,242 a
year earlier.
    The company said truck sales were off 8.8 pct to 45,015
from 49,365 a year before.
    For the year to date, GM said car sales were off 25.1 pct
to 738,262 from 986,211 a year before and truck sales were off
9.6 pct to 292,387 from 323,401 a year before.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14422" NEWID="8901">
<DATE>24-MAR-1987 13:19:12.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE><D>du-plessis</D><D>de-kock</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1888&#31;reute
b f BC-SOUTH-AFRICA/BANKS-AG   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA/BANKS AGREE ON DEBT REPAYMENT PLAN</TITLE>
<DATELINE>    PRETORIA, March 24 - </DATELINE><BODY>South Africa will repay 13 pct of its
frozen 13 billion dollar debt to foreign creditors over the
next three years under an agreement reached today in London,
Finance Minister Barend du Plessis said.
    He said South Africa already had repaid five pct of the
debt under the standstill agreement expiring on June 30, 1987.
   "These arrangements confirm South Africa's continued
willingness to maintain good relations with its foreign
creditors and to meet its foreign commitments in a orderly way,"
du Plessis told a news conference.
    Du Plessis said the new interim debt agreement was
"substantially a continuation" of the arrangement ending in June
and calls for South Africa to continue paying all interest on
its total foreign debt of 23 billion dlrs.
    The new debt standstill will extend from July 1, 1987, to
June 30, 1990, with a three pct down payment permitted on July
15, 1987, "provided such debt has already reached maturity," du
Plessis said.
    Finance Minister Barend du Plessis told a new conference
that 34 banks holding more than 70 pct of the frozen debt
agreed to the new arrangement worked out with South African
negotiators in London. About 300 other creditor banks also are
expected to approve the agreement, he said.
    Reserve Bank governor Gerhard de Kock said the agreement
was a "good deal" both for South Africa and the banks and added
that the three-year length of the agreement was of "enormous
significance" to South Africa.
    Reserve Bank governor Gerhard de Kock said the agreement
was a "good deal" both for South Africa and the banks.
    Besides the 13-billion-dlr frozen debt, South Africa also
owes ten billion dlrs of debt that includes a significant
amount of medium -term liabilities that will continue to be
repaid on normal maturity dates.
    The 13 pct to be repaid under the standstill amounts to
1.42 billion dollars.
    A total of five pct or 508 mln dlrs will be repaid in the
second half of 1987, with 3.5 pct or 400 mln dlrs in calendar
1988, three pct or 346 mln dlrs in calendar 1989 and 1.5 pct or
166 mln dlrs in the first half of 1990.
    Du Plessis said 34 banks holding more than 70 pct of the
frozen debt agreed to the new arrangement worked out with South
African negotiators in London.
    About 300 other creditor banks also are expected to approve
the agreement, he said.
    De Kock, speaking at the same news conference, said the
three-year length of the agreement was of "enormous significance"
to South Africa.
    De Kock said South Africa had negotiated from a "position of
basic economic financial strength."
    "We were never overborrowed to begin with and we are now
underborrowed by all international criteria that I've ever
heard of," he said.
    Du Plessis said available foreign reserves of the Reserve
Bank, which increased by about 800 mln dlrs in the past two
months, and a continued current account surplus "will be
sufficient" to meet terms of the new interim debt agreement.
    Du Plessis said the banks were showing much more confidence
in the South African economy and country as a whole.
    He attributed this to "restoration of law and order which
has greatly reduced not only the extent of unrest but also the
intensity of unrest."
    South Africa has been under a state of emergency since June
1986 because of black political violence that has claimed over
2,400 lives in the past three years.
    Du Plessis said no political demands were made by the banks
and South Africa was now rapidly returning to very good
relations with its foreign creditors.
    He said there were encouraging signs that some foreign
investors were again "taking a more realistic view" of South
Africa.
    Recent examples were the rise in the financial rand and the
sharp increase in foreign exchange reserves.
    Of the 13 billion dlr frozen debt, 3.5 billion dlrs was
owed by the public sector and 9.5 billion dlrs by private
industry, du Plessis said.
    The remaining 10 billion dlrs consisted of seven billion
dlrs owed by government agencies and three billion dlrs by the
private sector.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14423" NEWID="8902">
<DATE>24-MAR-1987 13:20:23.42</DATE>
<TOPICS><D>earn</D><D>ship</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1893&#31;reute
u f BC-STANDARD-CHARTERED-BO   03-24 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD CHARTERED BOOSTED BAD-DEBT PROVISIONS</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Standard Chartered Plc &lt;STCH.L>, faced
with a recession in the key Singapore and Malaysian markets and
an ongoing depression in the shipping industry, boosted its
bad-debt provisions in 1986, chairman Lord Barber said.
    Barber said in a statement on the bank's 1986 results that
bad and doubtful debt provisions, both general and specific,
stood at 545.6 mln stg against 416.6 mln at end-1985.
    Bank figures showed the increase was almost exclusively in
the specific bad risk provision, which qualifies for U.K. Tax
breaks. New specific provisions rose by 111.5 mln stg while
71.2 mln stg were reallocated from the general risk provision.
    In all, a 184.2 mln stg charge was made against profits for
1986, compared with a 100.7 mln stg charge in 1985. Total
pre-tax profits fell to 254 mln after 268 mln in 1985.
    "The continuing serious recessionary conditions in Singapore
and Malaysia and the depressed condition of the shipping
industry made it necessary to provide heavily against bad and
doubtful debs arising from loans in the Asia Pacific region, on
top of the normal level of provisioning," Barber said.
    He said, "the decision was also taken to build up loan loss
reeserves by making a sizeable increase in the charges for
general provisions for commercial and cross border risks."
    Barber said due to bad-debt provisioning, the Asia Pacific
region made "a negligible contribution to pre-tax profits."
    He said the profits contribution from the U.K. Businesses
was "well maintained, although the reported result was affected
by cross border debt provisioning," while Californian subsidiary
Union Bank "showed continued growth."
    "Tropical Africa, Middle East and South Asia all turned in
excellent performances and the revival in Europe continued," he
said.
    Barber said the group, which succesfully fought off a
takeover bid by Lloyds Bank &lt;LLOY.L> last year, strengthened
its capital resources during that year to just over three
billion stg, while total assets increased to 32.2 billion.
    Capital adequacy ratios remained strong, with the primary
capital ratio standing at 7.5 pct at end 1986, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14424" NEWID="8903">
<DATE>24-MAR-1987 13:25:34.80</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1912&#31;reute
u f BC-colombia's-coffee-rev   03-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOMBIA COFFEE REVENUE SHARPLY DOWN IN JAN/FEB</TITLE>
<DATELINE>    BOGOTA, March 24 - </DATELINE><BODY>Colombia's coffee export revenue dropped
97 mln dlrs to 233.6 mln dlrs for the first two months of the
year against 330.9 mln dlrs in the similar period of 1986,
central bank preliminary figures show.
    Experts attributed the fall to lower world market prices
following the failure to re-introduce international coffee
export quotas, but they said Colombia could compensate the drop
with higher exports in calendar 1987.
    Coffee export revenue for 1986 was 2.33 billion dlrs,
according to the bank.
    Jorge Cardenas, manager of the National Coffee Growers'
Federation, last week estimated the recent drop of 30 cents a
lb in coffee prices would mean a net loss revenue of 457 mln
dlrs for Colombia.
    But he stressed that Colombia, with stockpiles of 10 mln
(60-kg) bags, had the capacity to export more and would use a
recently-introduced more flexible marketing policy to do so.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14425" NEWID="8904">
<DATE>24-MAR-1987 13:30:48.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1931&#31;reute
r f BC-BENIHANA-&lt;BNHN>-FILES   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>BENIHANA &lt;BNHN> FILES SHARE OFFERING</TITLE>
<DATELINE>    MIAMI, March 24 - </DATELINE><BODY>Benihana National Corp said it filed a
registration statement with the Securities and Exchange
Commission for a proposed offering of one mln units.
    It said each unit will contain two shares of new class A
common having limited voting rights and one warrant to purchase
an additional share of class A common. It said the management
underwriter is Sherwood Securities Corp.
    Benihana also said it may sell its frozen food business or
enter into a joint venture with an unaffiliated party, among
other things, to realize the value of the business, which
consists of two lines of frozen oriental entrees.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14426" NEWID="8905">
<DATE>24-MAR-1987 13:31:05.15</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;f1932&#31;reute
u f BC-STE-FRANCAISE-DES-PET   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>STE FRANCAISE DES PETROLES BP &lt;PBPF.PA> 1986 YEAR</TITLE>
<DATELINE>    PARIS, March 24 -
    </DATELINE><BODY>Net result breakeven (no profit or loss) vs breakeven
    Operating loss 836 mln francs vs 654 mln
    Net turnover 12.70 billion francs vs 24.34 billion
    Sales of petroleum products 9.7 mln tonnes vs 10.6 mln
    Note - Company said in a statement 1986 results were
affected by the sharp fall in crude oil prices. Net result
included an extraordinary recovery of 731 mln francs from
provisions for currency fluctuations and 361 mln francs in
depreciation of fixed assets. Company is a subsidiary of The
British Petroleum Co Plc &lt;BP.L>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14427" NEWID="8906">
<DATE>24-MAR-1987 13:33:02.00</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>italy</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1944&#31;reute
u f BC-OLIVETTI-DOES-NOT-EXC   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>OLIVETTI DOES NOT EXCLUDE STAKE IN SGS-THOMSON</TITLE>
<DATELINE>    ROME, March 24 - </DATELINE><BODY>Ing C Olivetti EC SpA &lt;OLIV.M> does not
exclude the possibility of investing in a semiconductor venture
currently under discussion between Italy's &lt;STET - Societa
Finanziaria Telefonica P.A.> and France's Thomson-CSF
&lt;TCSF.PA>, an Olivetti spokesman said.
    He said that if Olivetti were approached by the two
partners involved and the financial conditions of any proposal
were considered interesting, the company did not exclude the
possibility of investing in the venture. However, Olivetti had
made no decision on any such investment and did not have at its
disposal information to evaluate such a move.
     Stet and Thomson said last Thursday they were negotiating
an accord involving their respective subsidiaries &lt;SGS
Microelettronica SpA> and &lt;Thomson Semiconducteurs> in the
civil semiconductor field.
    They said the accord, once concluded, would be put for
approval to the French and Italian authorities.
    The Olivetti spokesman was responding to a Reuters query
about Italian press reports today saying that Olivetti might
participate in the venture with a two pct stake.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14428" NEWID="8907">
<DATE>24-MAR-1987 13:34:37.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1957&#31;reute
r f BC-FAIRCHILD-&lt;FEN>-SEEKS   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FAIRCHILD &lt;FEN> SEEKS OKAY FOR REINCORPOATION</TITLE>
<DATELINE>    CHANTILLY, Va., March 24 - </DATELINE><BODY>Fairchild Industries Inc said it
will ask stockholders at its April 22 annual meeting to approve
its reincorporation in Delaware to allow more flexibility to
revise its capital structure, among other things. Fairchild is
now a Maryland corporation.
    Fairchild also cited Delaware's recently enacted statutory
provisions relating to directors' liability, allowing companies
to place limits on liability and expand their ablility to
protect corporate officers.
    William E. Fulwider, company spokesman, said Fairchild has
no specific plans to alter its capital structure.
    Fairchild said that if stockholders approve the
reincorporation, it would merge into a Delaware corporation and
its common and preferred would be automatically converted to 
the new corporation's shares, without any exchange of stock,
along with other assets and liabilities.
    Fairchild also said the new corporation would retain its
fair price charter provision.
    Earlier this month, Fairchild announced that it reached an
agreement with the Air Force to stop production on the T-46A
trainer jet.
    As a result, Fairchild said, it will close its Farmingdale,
N.Y., plant this year and layoff most of the plant's 2,800
employees, about a quarter of its entire workforce.
    Fairchild reported a 73.6 mln dlr fourth quarter loss
mainly due to charges for the plant closing and ending of the
trainer jet program. For the year, it reported a 10 mln dlr
loss, compared with a loss of 167.1 mln dlrs in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14429" NEWID="8908">
<DATE>24-MAR-1987 13:34:41.14</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;f1958&#31;reute
s f BC-ENSERCH-CORP-&lt;ENS>-SE   03-24 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>ENSERCH CORP &lt;ENS> SETS QUARTERLY</TITLE>
<DATELINE>    DALLAS, March 24 -
    </DATELINE><BODY>Qtly div 20 cts vs 20 cts prior
    Pay June One
    Record May 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14430" NEWID="8909">
<DATE>24-MAR-1987 13:35:56.52</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;f1960&#31;reute
r f BC-NESTLE-TO-ACQUIRE-NAB   03-24 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>NESTLE TO ACQUIRE NABISCO CANADA BUSINESSES</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>Swiss-based &lt;Nestle S.A.>'s Nestle
Enterprises Ltd unit said it signed a letter of intent to
acquire &lt;Nabisco Brands Ltd>'s Club, Melrose, Dickson and Chase
and Sanborn businesses for undisclosed terms.
    Nestle said the final agreement, subject to required
approvals, would be signed shortly.
    The businesses involved in the deal provide products to
hotels, restaurants and other parts of the food and beverage
industry. Nabisco is 80 pct-owned by RJR Nabisco Inc &lt;RJR>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14431" NEWID="8910">
<DATE>24-MAR-1987 13:38:45.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1965&#31;reute
h f BC-GROUP-SAYS-AIDS-TRANS   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GROUP SAYS AIDS TRANSFUSION FEARS EXAGGERATED</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>A top official of a major
association of blood banks said Americans' fears of getting 
AIDS from tainted blood transfusions were greatly exaggerated.
    "The (blood banking) system is strong," Edwin Steane,
president of the American Association of Blood Banks, said at a
news briefing here. "The current fears about AIDS transmission
are largely unfounded."
    Steane made his remarks after the group found in a public
opinion poll that 55 pct of Americans believed it likely that
one could contract AIDS from a tainted blood transfusion.
    The poll, conducted in December, was made public today.
    A year earlier, in a similar survey, 53 pct of Americans
said it was likely that one could contract AIDS from a blood
transfusion, the group reported.
    Steane said the practice of testing donated blood for the
presence of AIDS antibodies, begun in mid-1985, had virtually
eliminated AIDS-infected blood from the U.S. supply system.
    He said the federal Centers for Disease Control (CDC) had
reported only two cases of tainted blood being transfused since
the testing program began.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14432" NEWID="8911">
<DATE>24-MAR-1987 13:44:45.37</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1980&#31;reute
b f BC-******FED'S-HELLER-SA   03-24 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED'S HELLER SAYS HE WANTS TO SEE STRONGER JAPANESE DEMAND FOR AMERICAN GOODS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14433" NEWID="8912">
<DATE>24-MAR-1987 13:45:06.11</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;f1981&#31;reute
s f BC-METROPOLITAN-FINANCIA   03-24 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>METROPOLITAN FINANCIAL CORP &lt;MFC> VOTES PAYOUT</TITLE>
<DATELINE>    FARGO, N.D., March 24 -
    </DATELINE><BODY>Qtly div 11 cts vs 11 cts prior qtr
    Pay 30 April
    Record 15 April
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14434" NEWID="8913">
<DATE>24-MAR-1987 13:45:13.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1982&#31;reute
d f BC-S-K-I--LTD-&lt;SKII>-SAY   03-24 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>S-K-I  LTD &lt;SKII> SAYS SKIER VISITS A RECORD</TITLE>
<DATELINE>    KILLINGTON, Vt., March 24 - </DATELINE><BODY>S-K-I Ltd said its skier visits
for the curret season have exceeded 1,500,000, up from the
record of 1,400,000 set last year.
    The company said its Killington Ski Area in central Vermont
is expected to operate into June and its Mount Snow area in
southern Vermont will close in May.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14435" NEWID="8914">
<DATE>24-MAR-1987 13:45:47.38</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;f1983&#31;reute
r f BC-GOODYEAR-&lt;GT>-UNIT-TO   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>GOODYEAR &lt;GT> UNIT TO START UP PIPELINE</TITLE>
<DATELINE>    DALLAS, March 24 - </DATELINE><BODY>Goodyear Tire and Rubber Co said the All
American Pipeline of its Celeron Corp subsidiary will start
line fill activities on March 30 as it begins operating.
    The company said about five mln barrels of oil will be
required to pack the completed segment of the line, which runs
1,225 miles from near Santa Barbara, Calif., to existing
pipeline connections in West Texas.  Construction has also
staqrted this week on a 43-mile, 16-inch diameter gathering
line to deliver 75,000 to 100,000 barrels a day of oil from the
San Joaquin Valley in California.  The 30-inch main underground
line can transport over 300,000 barrels daily.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14436" NEWID="8915">
<DATE>24-MAR-1987 13:47:16.93</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;f1986&#31;reute
r f BC-MICROSIZE-INC-&lt;MSIZ>   03-24 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>MICROSIZE INC &lt;MSIZ> 2ND QTR ENDS FEB 28 NET</TITLE>
<DATELINE>    SALT LAKE CITY, March 24 -
    </DATELINE><BODY>Shr profit one cent vs loss 2.6 cts
    Net profit 59,198 vs loss 132,702
    Revs 634,616 vs 485,730
    six mths
    Shr profit one cent vs loss four cts
    Net profit 49,669 vs loss 208,278
    Revs 1,056,452 vs 944,330
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14437" NEWID="8916">
<DATE>24-MAR-1987 13:48:10.27</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1988&#31;reute
r f BC-&lt;PAUL'S-PLACE-INC>-CO   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;PAUL'S PLACE INC> CONTROL CHANGES</TITLE>
<DATELINE>    DENVER, March 24 - </DATELINE><BODY>Paul's Place Inc said chairman,
president and treasurer Paul D. Lambert has sold 240 mln common
shares to other board members, advisory board members Alan H.
Marcove and Gerald M. Marcove and an unaffiliated purchaser it
did not name.
    Terms were not disclosed.
    The company said Alan Marvoce has been named to replace
Lambert as chairman and chief executive officer and Michael T.
Fuller has been named president.
    Fuller was formerly president of &lt;Mr. Steak Inc>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14438" NEWID="8917">
<DATE>24-MAR-1987 13:48:19.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1989&#31;reute
r f BC-CONTROL-RESOURCES-&lt;CR   03-24 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTROL RESOURCES &lt;CRIX> NAMES PRESIDENT</TITLE>
<DATELINE>    MICHIGAN CITY, Ind., March 24 - </DATELINE><BODY>Control Resources
Industries Inc said R. Joseph Clancy was named to the
newly-created position of president.
    It also said Cody Geddes was named vice president and chief
financial officer. Geddes replaces former chief financial
officer John Wojcik, who retains his vice president's post and
assumes the new position of corporate counsel.
    Clancy had been vice president of the company since June
1986, Control Resources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14439" NEWID="8918">
<DATE>24-MAR-1987 13:49:50.77</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1992&#31;reute
f f BC-******CYACQ-AMENDS-CY   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CYACQ AMENDS CYCLOPS OFFER CONDITIONS, SAYS CITICORP EXPANDS FINANCING 
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14440" NEWID="8919">
<DATE>24-MAR-1987 13:50:09.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1993&#31;reute
d f BC-GORDON-JEWELRY-&lt;GOR>   03-24 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>GORDON JEWELRY &lt;GOR> COMPLETES SALE OF UNIT</TITLE>
<DATELINE>    HOUSTON, March 24 - </DATELINE><BODY>Gordon Jewelry Corp said it has
completed the previously-announced sale of the assets of its
catalog showroom stores to privately-held Carlisle Capital Corp
for an undisclosed amount of cash and notes in excess of book
value.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14441" NEWID="8920">
<DATE>24-MAR-1987 13:50:46.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1996&#31;reute
d f BC-CINCINNATI-GAS-&lt;CIN>   03-24 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>CINCINNATI GAS &lt;CIN> FILES SHELF OFFERINGS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Cincinnati Gas and Electric Co filed
with the Securities and Exchange Commission for shelf offerings
of up to 1.3 mln shares of cumulative preferred stock and of up
to 200 mln dlrs of first mortgage bonds.
    The utility said terms would be set at the time of sale.
    An underwriting group will be led by Morgan, Stanley and Co
Inc.
    Proceeds will be used for general corporate purposes,
including the financing of new construction and refunding of
cumulative preferred stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14442" NEWID="8921">
<DATE>24-MAR-1987 13:52:39.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2006&#31;reute
d f BC-DEROSE-&lt;DRI>-CHAIRMAN   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>DEROSE &lt;DRI> CHAIRMAN STEPS DOWN</TITLE>
<DATELINE>    TAMPA, Fla., March 24 - </DATELINE><BODY>DeRose Industries Inc said Robert
A. DeRose has retired as chairman and chief executive officer
but will remain on the board through 1987 in an advisory
capacity.
    It said president and chief operating officer Victor A.
DeRose, his son, has been named chairman and CEO.
    The company said director Tom Johnson, who is also
president of High Chaparral Inc, has been named president and
chief operating officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14443" NEWID="8922">
<DATE>24-MAR-1987 13:53:23.89</DATE>
<TOPICS><D>trade</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2007&#31;reute
r f BC-FED'S-HELLER-URGES-JA   03-24 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>FED'S HELLER URGES JAPANESE TO BUY U.S. GOODS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>A member of the Federal Reserve
Board, Robert Heller, said he wanted to see stronger Japanese
demand for American goods.
    "What I was advocating here was more Japanese purchases of
American goods," Heller said in response to a question about the
dollar's weakness in currency markets.
    He told a Heritage Foundation forum, "I'd be very happy to
see that."
    In his formal remarks, Heller said he supported the idea of
using commodity prices as an indicator for monetary policy.
    Asked if he would raise the issue at the next Federal Open
Market Committee meeting, he said, "Even at previous meetings
commodity prices were raised."
    He added, "I would not expect future meetings to be
different from past meetings in that respect."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14444" NEWID="8923">
<DATE>24-MAR-1987 13:54:17.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2011&#31;reute
d f BC-BSD-MEDICAL-&lt;BSDM>-NA   03-24 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>BSD MEDICAL &lt;BSDM> NAMES CHIEF EXECUTIVE</TITLE>
<DATELINE>    SALT LAKE CITY, March 24 - </DATELINE><BODY>BSD Medical Corp said it named
Victor Vaguine as president and chief executive officer.
    He replaces James Skinner, the company said.
    Vaguine was executive vice president of research and
engineering at Clini-Therm Corp &lt;CLIN>, the company said.
    In addition, the company said Alan Himber agreed to buy
400,000 dlrs of equity securities by April 30, and agreed to an
option to purchase another one mln dlrs by the same date.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14445" NEWID="8924">
<DATE>24-MAR-1987 13:56:12.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2015&#31;reute
r f BC-COCA-COLA-&lt;KO>-EXECUT   03-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>COCA-COLA &lt;KO> EXECUTIVE RESIGNS</TITLE>
<DATELINE>    ATLANTA, March 24 - </DATELINE><BODY>Coca-Cola Co said Eugene V. Amoroso has
resigned as president and chief executive officer of its
Coca-Cola Foods division to pursue other business interests.
    The company said Harry E. Teasley Jr., who had headed its
bottling subsidiary serving southern England, will succeed
Amoroso.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14446" NEWID="8925">
<DATE>24-MAR-1987 13:57:53.76</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;f2021&#31;reute
h f BC-TAJON-RANCH-CO-&lt;TRC>   03-24 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>TAJON RANCH CO &lt;TRC> 4TH QTR NET</TITLE>
<DATELINE>    LEBEC, Calif. March 24 -
    </DATELINE><BODY>Shr five cts vs nine cts
    Net 560,000 vs 1,247,000
    Revs 7,597,000 vs 4,619,000
    Year
    Shr ten cts vs 17 cts
    Net 1,225,000 vs 2,161,000
    Revs 26.5 mln vs 23.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14447" NEWID="8926">
<DATE>24-MAR-1987 13:59:04.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2024&#31;reute
r f BC-HEALTH-MANAGEMENT-&lt;HM   03-24 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTH MANAGEMENT &lt;HMA> LIMITS LIABILITY</TITLE>
<DATELINE>    NAPLES, Fla., March 24 - </DATELINE><BODY>Health Management Associates Inc
said stockholders approved amendments to its restated
certificate of incorporation limiting the personal liability of
directors for monetary damages except in certain circumstances.
    The company said the amendments also authorized the
indemnification, or protection, of directors, officers and
employees for claims made against them in their official
capacity.
    It also said stockholders approved a stock option plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14448" NEWID="8927">
<DATE>24-MAR-1987 14:00:29.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2028&#31;reute
d f BC-SHOWBOAT-&lt;SBO>-PLAY-M   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SHOWBOAT &lt;SBO> PLAY MONEY OPENING DELAYED</TITLE>
<DATELINE>    ATLANTIC CITY, N.J., March 24 - </DATELINE><BODY>Showboat Inc said the play
money opening of gambling at its Atlantic City, N.J., Showboat
Hotel, Casino and Bowling Center has been delayed pending the
receipt of regulatory approvals.
    Gambling with play money was to have started tomorrow. A
company spokesman said Showboat must still receive its
certificate of occupancy, after which the New Jersey Casino
Control Commission needs about 48 hours to set up for the
trial-run gambling. After the trial run, Showboat is required
by commission regulations to run at least one day of low-limit
betting.
    The spokesman said, however, that Showboat still expects to
start normal gaming operations on April 3 as scheduled.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14449" NEWID="8928">
<DATE>24-MAR-1987 14:03:48.96</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;f2045&#31;reute
s f BC-CENTERIOR-ENERGY-CORP   03-24 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTERIOR ENERGY CORP &lt;CX> SETS QUARTERLY</TITLE>
<DATELINE>    CLEVELAND, March 24 -
    </DATELINE><BODY>Qtly div 64 cts vs 64 cts prior
    Pay May 15
    Record April 16
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14450" NEWID="8929">
<DATE>24-MAR-1987 14:04:27.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2050&#31;reute
r f BC-BALLADUR-SAYS-FRENCH   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLADUR SAYS ECONOMIC REBOUND TO TAKE YEARS</TITLE>
<DATELINE>    PARIS, March 24 - </DATELINE><BODY>France's economic recovery will take
several years, Finance Minister Edouard Balladur told the
Economic and Social Council (CES), an advisory body composed of
industrialists, trade unionists and representatives of other
sectors of the French economy.
    "We will bear for long years to come the weight of the
choices made at the start of the oil crisis about 15 years ago,
unfavorable choices for industries but favorable for
households," he said without elaborating.
    "It is the cost of this choice that our industries are still
having to bear. We must improve their competitivity to regain
growth and employment," Balladur added.
    Balladur said the French budget deficit must be reduced to
below 70 billion francs from 129 billion forecast for 1987 but
he gave no time-scale. He has already announced his intention
of cutting the deficit to 100 billion francs in 1989.
    He said France's public debt, expected to grow by 10 pct
this year compared with 1,300 billion francs in 1986, must not
increase by more than between 60 to 70 billion francs a year.
    He reaffirmed that income from the government's sweeping
privatization program, seen to be at least 30 billion francs
for 1987, must be used mainly to pay off French state debt and
not to finance current needs.
                              
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14451" NEWID="8930">
<DATE>24-MAR-1987 14:05:55.36</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;f2055&#31;reute
r f BC-SUFFIELD-FINANCIAL-CO   03-24 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>SUFFIELD FINANCIAL CORP &lt;SFCP> RAISES QUARTERLY</TITLE>
<DATELINE>    SUFFIELD, Conn., March 24 -
    </DATELINE><BODY>Qtly div five cts vs three cts prior
    Pay April 10
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14452" NEWID="8931">
<DATE>24-MAR-1987 14:06:39.48</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2056&#31;reute
f f BC-******EASTMAN-KODAK-T   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EASTMAN KODAK TO REDUCE CAPACITY AND EMPLOYMENT IN POLYESTER FIBERS BUSINESS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14477" NEWID="8932">
<DATE>24-MAR-1987 14:07:15.89</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;f2058&#31;reute
u f BC-CYACQ-CUTS-CONDITIONS   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>CYACQ CUTS CONDITIONS ON CYCLOPS &lt;CYL> BID</TITLE>
<DATELINE>    NEW YORK, March 23 - </DATELINE><BODY>Cyacq Corp, an investor group bidding
for Cyclops Corp, said it amended its outstanding 92.50 dlrs a
share tender offer for Cyclops to eliminate two conditions and
modify a third one.
    The group, which includes Audio/Video Affiliates Inc and a
unit of Citicorp &lt;CCI>, said it also obtained additional
financing commitments, including an increased commitment from
Citicorp Capital Investors Ltd.
    The conditions that were eliminated are Cyacq's request for
non-public information about Cyclops that was previously
provided to Dixons Group PLC and Cyacq's being satisified that
the information provides an adequate basis for Cyclop's
published financial projections.
    Cyclops has agreed to be acquired Dixons Group, which has a
90.25 dlrs a share tender offer for Cyclops outstanding. Dixons
said earlier it would allow the offer to expire tonight.
    The condition that was modified, which required Cyacq to be
satisfied that break up fees or other obligations to Dixons
were rescinded or ineffective, now says Cyclops shall not have
paid any such fees or expenses to Dixons prior to the
consummation of Cyacq's offer.
    Cyacq's amended offer expires midnight New York time on
April three, 1987, unless extended.
    Manufacturers Hanover Trust Co and CIT Group/Business
Credit Inc increased its tender offer commitment to 197 mln
dlrs from 166 mln dlrs and its merger commitment to 275 mln
dlrs from 250 mln dlrs.
    Additionally, the Citicorp unit and Audio/Video have
increased their commitments to Cyacq to 185 mln dlrs. Of the
new total, 150 mln dlrs has been committed by Citicorp.
    Cyacq said it estimates that it needs 407.5 mln dlrs to buy
all Cyclops shares that may be tendered and pay related fees
and expenses.
    It said it is seeking to arrange the balance of about 25.5
mln dlrs necessary to complete the offer.
    All previously announced conditions regarding the lending
group led by Manufacturers Hanover remain in effect, except
that the loans are subject to the concurrent receipt by Cyacq
of equity contributions and other financing of not less than
210.5 mln dlrs for the tender offer facility and 213.5 mln dlrs
for the merger facility.
    Cyacq also said the Citicorp unit had received no
indications of interest in an alternative offer it had made
from Dixons, Cyclops or Alleghany Corp &lt;Y>, which has agreed to
acquire Cyclops' industrial group from Dixons.
    Under the alternative offer, the Citicorp unit, with
Cyacq's approval, proposed to acquire the industrial group from
Dixons.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14453" NEWID="8933">
<DATE>24-MAR-1987 14:08:34.06</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>itc</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2059&#31;reute
u f BC-TIN-PACT-EXTENSION-LI   03-24 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>TIN PACT EXTENSION LIKELY - ITC DELEGATES</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>An extension of the sixth International
Tin Agreement, ITA, for one or two years beyond June 30 is
increasingly likely, International Tin Council, ITC, delegates
said following a special council session today.
    A formal decision will be taken at the quarterly council
session on April 8-9 when decisions are needed on the budget
and activities for the year beginning July one, they stated.
    Delegates said most countries now favour a continued legal
ITC presence to answer the still unresolved legal disputes over
the outstanding debts of its buffer stock with court hearings
likely to continue well after the June 30 expiry of the pact.
    The ITC was informally told of the appeal made yesterday by
Amalgamated Metal Trading Ltd, AMT, against the January court
ruling against it in the legal bid it led on behalf of ITC
creditor brokers to have the ITC wound up.
    In January the judge ruled that the U.K. Court had no
jurisdiction to wind up the tin council, the ITC was not an
association within the meaning of the U.K. Companies act, and
the winding-up petition was not a proceeding in respect in
respect of an arbitration award.
    AMT is appealing on all points and has said it is important
for the court to accept that a winding-up petition is a move to
enforce an arbitration ruling.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14454" NEWID="8934">
<DATE>24-MAR-1987 14:08:49.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2061&#31;reute
r f BC-CANDLEWOOD-BANK-INITI   03-24 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>CANDLEWOOD BANK INITIAL OFFERING STARTS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Underwriter Moseley Holding Corp
&lt;MOSE> said an initial public offering of 500,000 common shares
of Candlewood Bank and Trust Co is underway at 10 dlrs per
share.
    It said it has been granted an option to buy up to 75,000
more shares to cover overallotments.  Directors and officers of
the bank are expected to buy about 110,000 common shares at the
public offering price, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14455" NEWID="8935">
<DATE>24-MAR-1987 14:12:25.87</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;f2071&#31;reute
h f BC-SIGMA-RESEARCH-ONC-&lt;S   03-24 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>SIGMA RESEARCH ONC &lt;SIGR> 2ND QTR DEC 31 LOSS</TITLE>
<DATELINE>    SEATTLE, Wash., March 24 -
    </DATELINE><BODY>Shr loss 27 cts vs profit one ct
    Net loss 532,376 vs profit 15,584
    Revs 1,899,719 vs 2,432,256
    Six mths
    Shr loss 78 cts vs profit two cts
    Net loss 1,521,002 vs profit 30,145
    Revs 3,235,907 vs 5,276,119
    Note: year ago net includes gain from tax carryforwards of
5,000 dlrs in quarter and 9,000 dlrs in year.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14456" NEWID="8936">
<DATE>24-MAR-1987 14:15:15.82</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2077&#31;reute
f f BC-******FED-SAYS-IT-BUY   03-24 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED SAYS IT BUYS BILLS OUTRIGHT FOR CUSTOMER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14457" NEWID="8937">
<DATE>24-MAR-1987 14:16:25.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2080&#31;reute
r f BC-TIME-&lt;TL>-BEGINS-DEBT   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>TIME &lt;TL> BEGINS DEBT TENDER, FILES SHELF</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Time Inc said it began a tender offer
for all of its 150 mln dlrs of outstanding 10-5/8 pct notes due
Oct 15, 1992.
    The publishing company also said it filed a shelf
registration with Securities and Exchange Commission covering a
total of 500 mln dlrs of debt securities to be offered and sold
from time to time.
    Under the tender, the company will repurchase the 10-5/8
pct notes at 1,116.50 dlrs per 1,000 dlrs principal amount plus
accrued interest to date of payment. The offer will expire 1700
New York time April 1, 1987, unless extended.
    Payment will be made not later than five business days
following expiration of the tender offer. Salomon Brothers Inc
is exclusive agent for purchase of the notes, Time said.
    Under the shelf registration, Time currently plans to issue
about 250 mln dlrs of 30-year debentures to be used in
connection with the tender offer and its previously announced
plans to redeem its Eurodollar debt issue.
    The debentures will be sold through a syndicate of
underwriters managed by Salomon Brothers Inc and First Boston
Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14458" NEWID="8938">
<DATE>24-MAR-1987 14:16:38.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2082&#31;reute
d f BC-MORGAN-FILES-COMPLAIN   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MORGAN FILES COMPLAINT AGAINST METROMEDIA</TITLE>
<DATELINE>    SECAUCUS, N.J., March 24 - </DATELINE><BODY>&lt;Metromedia Co> said Morgan
Guaranty Trust Co of New York filed a complaint against
Metromedia for default under the indenture to which its
subordinated debentures are outstanding.
    The debentures were issued in June 1984 in connection with
Metromedia's leveraged buyout. Morgan Guaranty, the trustee
under the indenture, said Metromedia's liquidation constituted
an event of default.
    It is requesting Metromedia pay 100 pct of the principal
amount plus a default amount equal to 575 dlrs per 1000 dlr
principal amount of the debentures.
    Metromedia said only five pct of the debentures remain
outstanding as a result of a November 1986 purchase offer and
previous offers under which Metromedia bought 103 mln dlrs
principal amount of debentures at 803.70 dlrs per 1,000 dlr
principal amount.
    Notwithstanding such technical default, Metromedia, which
dissolved on December 17, 1986, said it will pay all of its
liabilities.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14459" NEWID="8939">
<DATE>24-MAR-1987 14:18:22.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2086&#31;reute
r f BC-NISSAN-U.S.-CAR-SALES   03-24 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>NISSAN U.S. CAR SALES RISE IN MID-MARCH</TITLE>
<DATELINE>    CARSON, CALIF., March 24 - </DATELINE><BODY>Nissan Motor Corp in U.S.A. said
its domestic car sales for the March 11-20 period rose 10.7 pct
to 3,358 from 3,033 in the same year-ago period.
    For the month, it said car sales increased to 5,495 from
4,827 and for the year they rose to 19,264 from 17,673 a year
earlier.
    Nissan said U.S. truck sales in mid-March declined 29.8 pct
to 2,018 from 2,875 a year ago. For the month, sales declined
to 3,704 from 4,503, and year to date they advanced to 16,831
from 15,338.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14473" NEWID="8940">
<DATE>24-MAR-1987 14:19:44.32</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;f2088&#31;reute
u f BC-KODAK-&lt;EK>-TO-CUT-POL   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>KODAK &lt;EK> TO CUT POLYESTER FIBER OPERATIONS</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 24 - </DATELINE><BODY>Eastman Kodak Co said it will
reduce capacity and employment levels in two polyester fiber
operations of its Eastman Chemicals division.
    A company spokesman said the company will take "some
writeoff" in connection with the action in the first quarter
and there will probably be a further "carryover" writeoff in
the second quarter.  The writeoffs will cover the costs of
plants and equipment involved, as well as expenses connected
with the staff cuts.
    Kodak said the division will discontinue production of
polyester partially-oriented filament yarn, or POY, at its
Carolina Eastman Co plant in Columbia, S.C., and will idle 100
mln pounds of older polyester staple fiber production capacity,
mostly in Columbia.
    The company said about 350 jobs will be affected in
Columbia, most of which are now performed by contract workers,
and about 225 jobs at its Tennessee Eastman Co plant in
Kingsport, Tenn.
    Kodak said part of the staff reduction will be achieved
through an enhanced voluntary separation and retirement plan
for employees of Carolina Eastman, Eastman Chemical Products
Inc and other Kodak units in Kingsport, except Holsten Defense
Corp. Most of the workforce reduction is expected to be
completed by April 30.
    Kodak said depressed prices and poor financial performance
have led to the decision. It said about 50 mln pounds of POY
production will be shut down as a result of its exit from the
business. All Kodak POY production has been at Carolina Eastman
since last year.
    The company said annual capacity for production of Kodel
polyester staple fiber will be reduced to 400 mln pounds from
500 mln due to lesser demand.
    It said it will proceed with a previous decision to phase
in a new 100 mln pound staple fiber plant at Carolina Eastman.
    Carolina Eastman employs about 1,350 and the Kingsport
units affected about 10,800.
    The company spokesman later said the charges will be
insignificant and will have no impact on earnings estimates.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14460" NEWID="8941">
<DATE>24-MAR-1987 14:20:22.12</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;f2091&#31;reute
u f BC-HEAVY-SIGNUP-SEEN-IN   03-24 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>HEAVY SIGNUP SEEN IN 1987 CORN PROGRAM - USDA</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>With less than a week remaining to
enroll in the 1987 feedgrains program, Agriculture Department
officials said that final signup will probably exceed last
year's level of 85 pct.
    Enrollment in USDA's basic acreage reduction program will
likely total close to 90 pct, Agricultural Stabilization and
Conservation Service, ASCS, officials said, with 50 to 70 pct
of the enrolling farmers also expected to sign up for the paid
land diversion program.
    The signup period of the 1987 feedgrains program officially
ends at the close of the business day on March 30.
    USDA will release its official signup report around April
15, an official said.
    USDA personnel in the corn belt states of Iowa, Illinois,
and Indiana have been reporting heavy signup activity, an ASCS
official told Reuters.
    A surge of acitivity is expected during this final week of
signup, the official said.
    "A lot of farmers have been dragging their feet because
they were anticipating some changes in the program, but that
doesn't look very likely now," he said.
    To enroll in the 1987 feedgrains program, farmers have to
set aside 20 pct of the program acreage base, and have the
option to idle an additional 15 pct under a paid land diversion
program.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14461" NEWID="8942">
<DATE>24-MAR-1987 14:21:06.18</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2094&#31;reute
f f BC-******IBM-CALLS-250-M   03-24 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>IBM CALLS 250 MLN DLRS OF 9-7/8 PCT NOTES FOR REDEMPTION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14462" NEWID="8943">
<DATE>24-MAR-1987 14:25:07.51</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;f2097&#31;reute
u f BC-ILLINOIS-CO-OP-FUTURE   03-24 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>ILLINOIS CO-OP FUTURES DISSOLUTION VOTE SET</TITLE>
<AUTHOR>    By Keith Leighty</AUTHOR>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>The shareholders of Illinois
Cooperative Futures Co., the futures trading arm of many
Midwest farm cooperatives for more than 25 years, will vote
Wednesday on its possible dissolution.
    The directors of the company called a special meeting and
recommended its dissolution last month, citing falling volume
and increasing costs.
    Sources close to the organization told Reuters the pullout
of Growmark, Inc., which holds more than 70 pct of the capital
stock, led to the call for dissolution.
    The possible demise of the cooperative has set clearing
houses scrambling for the trading business of the 85 regional
and local cooperatives that comprise its membership.
    Ironically, it was Growmark, at that time a regional farm
cooperative with major river terminal elevators, that founded
Illinois Cooperative Futures on December 1, 1960.
    But Growmark became affiliated last year with Archer
Daniels Midland of Decatur, Ill., and markets its grain through
a joint subsidiary of the two companies, ADM/Growmark.
    With that relationship, Growmark no longer needs to trade
futures through the cooperative, said Tom Mulligan, president
of the co-op.
    Membership in the company, which Mulligan termed a
cooperative of cooperatives, has declined from 99 in 1982. A
notable loss was AgriIndustries of Iowa, which became
affiliated with Cargill, Inc.
    Illinois Co-op's other members include such regional
cooperatives as Indiana Grain, based in Indianapolis, Goldkist,
of Atlanta, Ga., Midstates in Toledo, Ohio, Farmland Industries
in Kansas City, Mo., Farmers Commodities, Des Moines, and
Harvest States in Minneapolis.
    Some observors said the demise of Illinois Cooperative
Futures Co. is a serious blow to the cooperative system.
    Instead of banding together, the individual cooperatives
are forced to go their own ways, said the floor manager of one
cash house at the Chicago Board of Trade.
    Such a move would destroy the cohesiveness that gives farm
cooperatives an advantage in the market at a time that a few
major commercial companies are growing dominant, he said.
    Don Hanes, vice president for communications with the
National Council of Farm Cooperatives, said 5,600 cooperatives
exist today, down from 6,700 five years ago.
    "The period we've gone through in the past five years has
been quite a crunch," he said. "There's been a lot of
consolidation in the marketing co-ops."
    One problem, he said, is the co-ops sell the grain to the
major commercials for export, rather than exporting it
themselves, losing potential profits.
    But exporting grain requires heavy investments, and the
multi-million-dollar loss posted six years ago by Farmers
Export Co., a co-op set up to export grains, served "to make
folks gun-shy," Hanes said.
    Mulligan said he believes the dissolution, if it is
approved, is a result of change in the futures industry rather
than a change in U.S. agricultural economics.
    A grain dealer at one member co-op said the futures arm
"was a convenience, something that saved us a little bit of
money. (Its dissolution) will force us to change our way of
doing business."
    "We're sorry to see the co-op go by the wayside," he said.
"But there are lot of people out there to do business with.
There are plenty of capable firms."
    Steven W. Cavanaugh, vice president for grain marketing
with Indiana Grain, said he would prefer to trade futures
through a Chicago-based cooperative.
    "In terms of clearing our business as a unit as opposed to
individuals, there would be economic savings," he said but
added, "The times change and with changing times, come
different opinions of what businesses ought to be around."
    Cavanaugh said the possible demise of the futures arm had
nothing to do with its profitability. "I would guarantee you
that this company is not in trouble. It is a sound, healthy
organization."
    In the year ended February 28, 1986, the Illinois
Cooperative reported income of 10.2 mln dlrs and members'
equity, or net worth, of 8.3 mln dlrs. The annual report for
the most recent year has not been filed.
    Under the cooperative system, income from operations is
returned as "patronage refunds" to the members.
    Income and refunds in the past five years have been
declining. In the year ended February 28, 1982, the co-op
reported income of 17.4 mln dlrs and patronage refunds of 17.0
mln dlrs. Patronage refunds in the year ended February 28,
1986, totalled 9.5 mln dlrs.
    "You're dealing with substantially lower volume," Mulligan
said. "Lower volume translates into higher costs."
    According to the company's 1986 annual report, Growmark
owns 90 pct of the preferred shares and four pct of the common
shares of Illinois Cooperative Futures Co.
    Mulligan declined to speculate on how much of the capital
Growmark is entitled to. He said he could not determine the
figure unless the shareholders decide in favor of dissolution.
Equity is distributed according to each member's trading volume
and, as a result, changes from year to year.
    However, Mulligan said the company could continue to meet
minimum capital requirements to trade futures even if Growmark
pulled out.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14463" NEWID="8944">
<DATE>24-MAR-1987 14:25:59.15</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;f2099&#31;reute
u f BC-CONRAC-&lt;CAX>-SOARS-FO   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CONRAC &lt;CAX> SOARS FOLLOWING MARK IV &lt;IV> BID</TITLE>
<AUTHOR>    By Cal Mankowski, Reutersd</AUTHOR>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Heavy buying by speculators boosted
Conrac Corp 7-7/8 to 29, higher than a 25-dlr-per-share cash
tender offer announced by Mark IV Industries Inc &lt;IV>.
    "It's a case of ChemLawn euphoria," said one arbitrageur,
referring to a recent hostile tender that began at 27 dlrs per
share and ended when ChemLawn Corp &lt;CHEM> found a white knight
willing to bid 36.50 dlrs.
    For Conrac, the arbitrageur said, 28 dlrs per share seemed
like an "appropriate price." Another said "it's too early to
project the outcome."
    "The market is speaking for itself and saying the 25 dlr
offer is inadequate," the second arbitrageur said. But he added
it was hard to make a case for Conrac being worth much more
than the 29 dlrs where the shares traded today.
    He noted the stock recently sold in the high teens and
there could be a downward risk of 10 dlrs or more if Conrac is
able to thwart Mark IV.
    Conrac urged shareholders to take no action while its board
studies the offer and confers with advisers. Conrac said it
would make a recommendation by April 17.
    A third arbitrageur noted Mark IV had been involved in
several takeovers previously and has proven itself to be a
determined bidder. "They're not beginners," he said.
    Another said Conrac might have trouble if it tried to find
another buyer. "It's a hodge-podge of non-related businesses,"
he said. "There is only a small universe of people who would
want to own the company as it's presently structured."
    Conrac is involved in video displays, computer software,
aircraft instruments, telephone answering machines, welding
equipment and other products.
    "I'm telling retail clients to sell and leave the rest for
those who can take the risk," said Rudolph Hokanson, analyst at
Milwaukee Co.
    He called the 25-dlr offer by Mark IV "fair value but on
the low side." "I don't think management was looking for a
buyer in any way before this offer," he said.
    Hokanson said Conrac has conservative finances and has
developed a reputation for quality products that serve niche
markets. He said management has done a good job of turning
around the telephone answering machine business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14465" NEWID="8945">
<DATE>24-MAR-1987 14:26:07.90</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2100&#31;reute
r f BC-LASER-PHOTONICS-&lt;LAZR   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LASER PHOTONICS &lt;LAZR> SELLS COMMON SHARES</TITLE>
<DATELINE>    ORLANDO, Fla., March 24 - </DATELINE><BODY>Laser Photonics Inc said it sold
615,385 shares of its common stock to investors for one mln
dlrs under a previously-announced agreement.
    In connection with the investment, the company said it will
restructure its board. There will be eight members, three of
whom were designated by the new investors, the company said.
The group of investors include affiliates of &lt;Radix
Organization Inc>, the company said.
    Richard Gluch Jr resigned from the board. Joining the board
were Leonard Lichter, Pierre Schoenheimer and Roger Kirk, the
investors' designates, the company added.
    Other members of the board are chairman Don Friedkin,
president and chief executive officer Mark Fukuhara, and Jay
Watnick, Ira Goldstein, Thurman Sasser and Michael Clinger.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14466" NEWID="8946">
<DATE>24-MAR-1987 14:26:15.28</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;f2101&#31;reute
r f BC-CROWLEY,-MILNER-AND-C   03-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>CROWLEY, MILNER AND CO&lt;COM> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    DETROIT, March 24 -
    </DATELINE><BODY>Shr 4.11 dlrs vs 3.51 dlrs
    Net 2,091,000 vs 1,785,000
    Sales 38.8 mln vs 34.3 mln
    Year
    Shr 3.42 dlrs vs 3.57 dlrs
    Net 1,740,000 vs 1,815,000
    Sales 113.0 mln vs 104.1 mln
    Qtly div 25 cts vs 25 cts previously
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14464" NEWID="8947">
<DATE>24-MAR-1987 14:26:25.80</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2102&#31;reute
u f BC-CONRAC-&lt;CAX>-URGES-NO   03-24 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>CONRAC &lt;CAX> URGES NO ACTION ON BID</TITLE>
<DATELINE>    STAMFORD, Conn., March 24 - </DATELINE><BODY>Conrac Corp said it is asking
shareholders to take no action on the 25-dlr-per-share tender
offer for all its shares launched this morning by Mark IV
Industries Inc &lt;IV>.
    The company said its board will study the offer with
financial and legal advisors and make a recommendation to
shareholders by April 17.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14467" NEWID="8948">
<DATE>24-MAR-1987 14:27:00.21</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2106&#31;reute
r f BC-&lt;D'OR-VAL-MINES-LTD>   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;D'OR VAL MINES LTD> FINDS HIGH-GRADE ORDER</TITLE>
<DATELINE>    VANCOUVER, March 24 - </DATELINE><BODY>D'Or Val Mines Ltd said a recent
drill hole from the surfrace has intersected high-grade ore in
a downdip extension of the Discovery Vein in its D'Or Val Mine
in northern Quebec.
    The company said 42.3 feet of the hole graded 0.92 ounce
per short ton of gold, including a 17.5 foot section grading
2.17 ounces.
    It said the zone is just below the projection of the
seventh level of the mine about 1,450 feet below the surface
and 820 feet west of the shaft.
    D'Or Val said this find and other recent ones will make
substantial contributions to the mine's ore reserves and grade.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14468" NEWID="8949">
<DATE>24-MAR-1987 14:27:32.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2110&#31;reute
d f BC-LVI-GROUP-INC-&lt;LVI>-F   03-24 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>LVI GROUP INC &lt;LVI> FILES PREFERRED OFFERING</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>The LVI Group Inc said it will file 
with the Securities and Exchange Commission a registration
statement covering 30 mln dlrs of a new issue of a convertible
exchangeable preferred stock of the company.
    The company said the offering will only be made by means of
a perspectus to be filed as part of the registration statement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14469" NEWID="8950">
<DATE>24-MAR-1987 14:27:42.45</DATE>
<TOPICS><D>ship</D><D>coffee</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;f2111&#31;reute
b f BC-BRAZILIAN-SEAMEN-SAY   03-24 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZILIAN SEAMEN SAY 14,000 NOW BACK AT WORK</TITLE>
<DATELINE>    SAO PAULO, March 24 - </DATELINE><BODY>About 14,000 of Brazil's 40,000
seamen are now back at work after pay accords with 21 shipping
companies but the rest are still on strike, a spokesman at
strike headquarters said today.
    The seamen began a national stoppage on February 27.
    The spokesman, talking by telephone from Rio de Janeiro,
said 126 ships were strike-bound.
    He added that because of resignations by many seamen there
were scarcely any crews left on 38 of these ships.
    The seamen have settled in general for pay rises of 120 pct
with the 21 companies. Talks with the shipowners' association
Syndarma have been deadlocked over overtime.
    While exports have been delayed by the strike, exporters
say the problems have been manageable.
    "It hasn't been critical by any means," said a coffee trader
in Santos, who noted that coffee was still moving on foreign
ships.
    Economic analysts added, however, that any delay to exports
served to aggravate Brazil's balance of payments crisis, which
last month prompted the government to suspend interest payments
on 68 billion dlrs of commercial debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14470" NEWID="8951">
<DATE>24-MAR-1987 14:28:40.07</DATE>
<TOPICS><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;f2114&#31;reute
b f BC-/-FED-BUYS-500-MLN-DL   03-24 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>FED BUYS 500 MLN DLRS OF BILLS FOR CUSTOMER</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>The Federal Reserve purchased about
500 mln dlrs of U.S. Treasury bills for a customer, a
spokeswoman said.
    She said that the Fed bought bills maturing in June and
July, and on August 27 and September 10 for regular delivery
tomorrow.
    Dealers said that Federal funds were trading at 6-1/8 pct
when the Fed announced the operation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14471" NEWID="8952">
<DATE>24-MAR-1987 14:29:25.16</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2117&#31;reute
f f BC-******REAGAN-SIGNS-GI   03-24 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REAGAN SIGNS GINNIE MAE BILL, VOICES CONCERN ON FEES CAP
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14472" NEWID="8953">
<DATE>24-MAR-1987 14:30:14.64</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;f2119&#31;reute
u f BC-IBM-&lt;IBM>-TO-REDEEM-2   03-24 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>IBM &lt;IBM> TO REDEEM 250 MLN DLRS OF NOTES</TITLE>
<DATELINE>    STAMFORD, Conn., March 24 - </DATELINE><BODY>International Business Machines
Corp's IBM Credit Corp subsidiary said it is calling for
redemption on May 15 all 250 mln dlrs of its 9-7/8 pct notes
due May 15, 1988 at 101 pct of principal amount.
    It said holders will receive accrued interest through the
redemption date.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14474" NEWID="8954">
<DATE>24-MAR-1987 14:31:41.12</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;f2122&#31;reute
r f BC-PHILADELPHIA-ELECTRIC   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILADELPHIA ELECTRIC &lt;PE> SELLS MORTGAGE BONDS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Philadelphia Electric Co is raising
250 mln dlrs via an offering of first and refunding mortgage
bonds due 2017 yielding 9.40 pct, said lead manager Morgan
Stanley and Co Inc.
    Morgan led a group that won the bonds in competitive
bidding. It bid them at 98.859 and set a 9-3/8 pct coupon and
reoffering price of 99.75 to yield 170 basis points over the
off-the-run 9-1/4 pct Treasury bonds of 2016.
    Non-refundable for five years, the issue is rated Baa-3 by
Moody's and BBB-minus by S and P. Co-managers are Daiwa, Dillon
Read, Drexel Burnham and Wertheim Schroder.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14475" NEWID="8955">
<DATE>24-MAR-1987 14:32:03.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2125&#31;reute
d f BC-REAGAN-SIGNS-GNMA-BIL   03-24 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN SIGNS GNMA BILL WITH RESERVATIONS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>President Reagan signed a bill
limiting fees that may be charged by the Government National
Mortgage Association (GNMA) for its guarantees of privately
issued mortgage-backed securities but voiced serious
reservations about the measure.
    He said the bill's provision barring GNMA from increasing
its current fee of .06 pct charged to issuers of single-family
mortgage backed securities "is an unnecessary and risky
congressional intrusion into GNMA's ability to respond quickly
and flexibly to changes in financial markets."
    Reagan said his reservations "must be addressed promptly
through remedial amendments."
    Reagan said the provision hampered GNMA's ability to
maintain reserves necessary to meet its obligations,
"particularly in light of a disturbing increase in claims and in
GNMA's contingent liabilities."
    Reagan said the legislative cap on fees "could well call
into question the adequacy of GNMA's  current reserve of 1.4
billion dlrs, given the 250 billion in GNMA-guaranteed
securities presently outstanding and GNMA's monthly contingent
liability of three billion dlrs."
    Reagan said he had instructed Housing Secretary Samuel
Pierce to work with Congress to draft revisions to the
legislation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14476" NEWID="8956">
<DATE>24-MAR-1987 14:33:52.56</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;f2133&#31;reute
r f BC-PENN-TRAFFIC-CO-&lt;PNF>   03-24 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>PENN TRAFFIC CO &lt;PNF> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    JOHNSTOWN, Penn., March 24 -
    </DATELINE><BODY>Shr 33 cts vs 46 cts
    Net 1,350,000 vs 1,886,000
    Revs 150.1 mln vs 127.9 mln
    Year
    Shr 1.76 dlr vs 1.59 dlr
    Net 7,300,000 vs 6,567,000
    Revs 548 mln vs 510.5 mln
    NOTE: First three quarters of 1986 have been restated to
reflect adoption in 4th qtr of new pension accounting procedure
which increased net income in first three qtrs 204,000 dlrs or
five cts per share. Procedure increased fourth qtr income
73,000 dlrs or two cts per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14478" NEWID="8957">
<DATE>24-MAR-1987 14:37:53.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2150&#31;reute
d f BC-CELANESE-PRODUCES-NEW   03-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CELANESE PRODUCES NEW FIBER IN U.S.</TITLE>
<DATELINE>    CHARLOTTE, N.C, March 24 - </DATELINE><BODY>Celanese Industrial Fibers, a
division of &lt;Hoechst Celanese Corp's> Celanese Fibers Inc
subsidiary, said it is producing industrial miltifilament yarns
of polyetheretherketone polymer for the first time in the
United States.
    Hoechst and Celanese completed their merger last month.
Under an agreement with the Federal Trade Commission,
Celanese's domestic fibers businesses are being held and
operated separately from Hoechst Celanese Corp until the parent
company decides on one of two divestment options.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14479" NEWID="8958">
<DATE>24-MAR-1987 14:40:35.12</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;f2154&#31;reute
u f BC-FNMA-DELAYS-DEBENTURE   03-24 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>FNMA DELAYS DEBENTURE OFFERING ANNOUNCEMENT</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The Federal National Mortgage
Association said it will announce its coming debenture offering
next Monday instead of this Friday as originally scheduled.
    It said the debentures, which are for settlement April 10,
will be priced next Tuesday and the offering will take place
April 1.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14480" NEWID="8959">
<DATE>24-MAR-1987 14:40:44.29</DATE>
<TOPICS><D>earn</D><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2155&#31;reute
r f BC-CALUMET-INDUSTRIES-&lt;C   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>CALUMET INDUSTRIES &lt;CALI> SEES 2ND QTR LOSS</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>Calumet Industries Inc said it expects
to report a loss from operations for its second quarter ending
March 31, despite a strong unit sales increase.
    In the same year-ago period the company reported net income
of 366,953 dlrs, or 18 cts a share.
    Chairman S. Mark Salvino said the expected loss is
primarily due to depressed product prices not recovering the
increasing cost of crude oil.
    Salvino also said steadier crude prices and the reduced
rate of refinery production should increase product prices and
lead to a return to more normal profit margins.
    He reported that the 23 mln dlr HydroCal II system under
construction at the company's refinery in Princeton, La., is on
schedule and production will begin early in fiscal 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14481" NEWID="8960">
<DATE>24-MAR-1987 14:43:07.03</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;f2160&#31;reute
u f BC-WAINOCO-OIL-&lt;WOL>-REC   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>WAINOCO OIL &lt;WOL> RECAPITALIZING COMPANY</TITLE>
<DATELINE>    HOUSTON, March 24 - </DATELINE><BODY>Wainoco Oil Corp said it is undergoing
a recapitalization program with a proposed offering of two mln
units consisting of common shares and warrants, the planned
redemption of its shareholder value rights, and a change in its
corporate structure that substantially reduces futurer income
taxes.
    Wainoco said it had filed a registration statement with the
Securities and Exchange Commission for the offering of the two
mln units consisting of two shares of common stock and one
warrrant per unit for a total of four mln shares of common
stock and two mln warrants.
    Included in the two mln units to be offered are 280,000
shares of common stock to be sold by &lt;Waverly Oil Co>,
 a selling shareholder of Wainoco, it said.
    Proceeds of the offering will be used to reduce bank debt,
the company said. It said its outstanding 10-3/4 pct
subordinated debentures may be used at face value to pay the
exercise price of the warrants.
    Wainoco said the offering will be underwritten by  E.F.
Hutton and Co Inc, Kidder Peabody and Co Inc, and Smith Barney
harris Upham Inc.
    Simultaneous with the offering, Wainoco said it intends to
redeem its shareholder value rights attached to each common
share at 10 cts per right. Wainoco said without redemption of
the value rights, the company would not have sufficient
authorized and unissued shares of common stock to complete the
units offering.
    Due to certain covenants under the company's 10-3/4 pct
subordinated debentures, the value rights redemption is
contingent upon the success of the units offering, it said.
    Wainoco's said its shareholders purchase rights distributed
to the shareholders in June 1986 are unaffected and remain
valid.
    It said as a result of the liquidation of its Canadian
subsidiary into the parent company, it will be able to offset
all of its corporate overhead expenses and some of its
debenture interests against Canadian income for tax purposes.
    Wainoco said its pool of future Canadian tax deductions has
been increased by an amount which should generate savings that
will exceed existing deferred income tax liability.
    Existing U.S. tax loss carryforward benefits in the U.S.
are not materially affected, the company said. It added this
will considerably reduce future income taxes in Canada and add
to Wainoco's net income and cash flow for a number of years.
    John Ashmun, chairman of Wainoco, said "as a result of this
recapitalization, Wainoco will be in a strong financial
position.
    "Our net income and cash flow will benefit from lower
interest expense, lower Canadian taxes, and the considerable
savings achieved over the past few years from cost reductions,"
he said.
    Ashmun said the company will be able to "utilize enhanced
cash flow to develop its large resource base and explore for
additional reserves at a time when exploration and development
costs are low and opportunities abound rather than using a
disproportiaonate share of cash flow for debt service."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14482" NEWID="8961">
<DATE>24-MAR-1987 14:43:15.25</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2161&#31;reute
u f BC-COCOA-COUNCIL-MOVES-C   03-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>COCOA BUFFER STOCK ACCORD CLOSER, DELEGATES SAY</TITLE>
<AUTHOR>    By Lisa Vaughan, Reuters</AUTHOR>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>The International Cocoa Organization
(ICCO) moved closer to an agreement on buffer stock rules, with
many delegates saying they expect to reach an accord by Friday.
    "Everyone is convinced the buffer stock rules should be in
place by Friday so the buffer stock can be put into operation
Monday," a consumer delegate said. "The atmosphere is excellent."
    Other delegates said the buffer stock might not be
operational by Monday but could be in place by around April 1,
if the rules are agreed by Friday.
    A detailed package on how the buffer stock manager will buy
and sell cocoa was presented to a buffer stock working group
this afternoon -- a big step toward a "very interesting stage of
negotiations," delegates said.
    The package, based on negotiating principles informally
agreed by delegates, has been forged bit by bit during
fortnight-long meetings by ICCO Executive Director Kobena
Erbynn and a small group of other delegates.
    Producers, the European Community (EC) and consumers are
scheduled to consider the paper separately and then jointly
tomorrow.
    Under the proposal, the buffer stock manager would buy
cocoa from origins or the second-hand market on an offer
system. He would alert the market via news agencies as to when
he wanted to buy cocoa and include shipment details and tonnage
desired, delegates said.
    The manager would buy cocoa on a competitive basis, rather
than choosing the cheapest cocoa as before, giving preference
to ICCO member-country exporters. Standard price differentials
would be fixed for each origin, similar to golf handicaps, to
determine the relative competitiveness of offers of various
cocoas from different origins, they said.
    The differentials could be reviewed at the request of a
member country or recommendation of the buffer stock manager,
the delegates said. Revision would be decided by a majority
vote of the ICCO council.
    Buffer stock purchases from non-ICCO member countries would
not be allowed to exceed 10 pct of the total buffer stock, they
said.
    The purchases would be limited to 5,000 tonnes of cocoa per
day and 20,000 tonnes per week, and could be bought in nearby,
intermediate and forward positions, they added.
    One of the underlying ideas of the rules package is
"transparency," meaning virtually all the buffer stock manager's
market activities will be public and he will have as little
discretion as possible, delegates said.
    After the tin market collapse in 1985, when the
International Tin Council buffer stock ran out of funds, cocoa
delegates are anxious to install safeguards in the cocoa market
mechanism, they said.
     Earnest debate on the buffer stock proposal is expected to
begin late tomorrow, as delegations feel the pressure of the
approaching Friday deadline, when the ICCO meeting is due to
adjourn, delegates said.
    The ICCO failed to agree buffer stock rules in January when
the new International Cocoa Agreement came into force. The
existing buffer stock of 100,000 tonnes of cocoa was frozen in
place with its bank balance of 250 mln dlrs -- both untouchable
until rules are agreed.
     Though the current semi-annual council meeting is not the
last chance for delegates to cement buffer stock rules,
producers are keen to get the wheels of the market-stabilizing
mechanism turning to stem the decline in world prices,
delegates said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14483" NEWID="8962">
<DATE>24-MAR-1987 14:47:17.31</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;f2170&#31;reute
r f BC-FINANCIAL-CORP-&lt;FIN>   03-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>FINANCIAL CORP &lt;FIN> NOT HOLDING BUYOUT TALKS</TITLE>
<DATELINE>    IRVINE, Calif., March 24 - </DATELINE><BODY>Financial Corp of America said
it is not holding discussions with anyone regarding a buyout of
the company.
    But a spokeswoman pointed out that Financial Corp has said
publicly for nearly two years that in the company's view a
merger would be one method of increasing the company's capital.
    "If an opportunity arises for us to strengthen our capital
position quickly we would be very open to it," the spokeswoman
said.
    Financial Corp would need over one billion dlrs to bring
its regulatory net worth up to Federal Savings and Loan
Insurance Corp requirements, the spokeswoman said.
    In addition, she said that the Federal Home Loan Bank
Board, in a letter dated January 26, 1987, stated that through
March 31, 1988 it will continue to support the company's
efforts to restructure its balance sheet, maintain profitable
operations and augment net worth.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14484" NEWID="8963">
<DATE>24-MAR-1987 14:58:18.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D><D>brazil</D><D>argentina</D><D>venezuela</D></PLACES>
<PEOPLE><D>james-baker</D><D>petricioli</D></PEOPLE>
<ORGS><D>imf</D><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2195&#31;reute
u f BC-(pse-onpass-Baires)   03-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MEXICO SEES COMPROMISE ON IADB REFORMS</TITLE>
<DATELINE>    MIAMI, March 24 - </DATELINE><BODY>There is a good chance that the United
States and Latin America will agree reforms in the
Inter-American Development Bank (IADB) as a result of talks
yesterday with U.S. Treasury Secretary James Baker, Mexican
Finance Minister Gustavo Petricioli said.
    "This is a complex issue, but I am very optimistic on an
agreement, he told reporters during the IADB's annual meeting
here.
    The U.S., which holds a 34.5 pct stake in the Bank, has
proposed lowering the veto power to 35 pct, a move strongly
opposed by Latin countries which together hold 54.2 pct.
    Petricioli said he saw the basis for a compromise when the
issue comes up again during the International Monetary Fund and
World Bank interim meetings next month in Washington.
    He said Baker had indicated receptivity to Latin America's
position during talks yesterday with the so-called "A"
countries - Brazil, Argentina and Mexico - who stand to suffer
a net deficit of IADB funding unless the Bank votes a
substantial capital increase.
    Proposals are on the table for a seventh replenishment of
funds totalling 20 billion dlrs for the period 1987-90, plus
2.9 billion carried over from the sixth replenishment.
    But Washington has previously said it would not agree to a
nine billion dlr increase in its subscription unless reforms
were agreed, a position described today by Nicaragua's Central
Bank governor Joaquin Cuadra Chamorro as undemocratic.
    Petricioli nevertheless said Baker showed "flexibility in
being prepared to accommodate different proposals" and promised
to look into alternatives.
    He said an alternative now being looked at was for new
procedures for delaying IADB loan approval, to satisfy U.S.
concern that lending is currently too lax, rather than a change
in the basic voting structure.
    There would accordingly be a two-step procedure whereby it
would need just a 35 pct vote to delay loan approval for a
year, after which a second review would require a 40 pct
blocking vote.
    "Any change in the basic voting structure would require a
change in the IADB's charter, and in turn a lengthy process of
prior approval by the Congresses of each country," Petricioli
said. In common with Venezuela, he expressed reservations on
the conditions that might be placed as a result of Washington's
proposals for increased IADB sectoral lending, but welcomed a
bigger role for the Bank in U.S. debt strategy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14485" NEWID="8964">
<DATE>24-MAR-1987 15:00:30.94</DATE>
<TOPICS><D>earn</D><D>crude</D><D>gas</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y RM
&#22;&#22;&#1;f2201&#31;reute
r f BC-pdvsa-income-dropped   03-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>PDVSA INCOME ON OIL SALES FELL 45 PCT IN 1986</TITLE>
<DATELINE>     CARACAS, March 24 - </DATELINE><BODY>The state oil company Petroeleos de
Venezuela ended 1986 with a decrease of 45 pct in income from
oil sales even though it surpassed its own export goal by
almost 100,000 barrels a day, Minister of Energy and Mines
Arturo Hernandez Grisanti said.
    Speaking to a news conference following the PDVSA annual
assembly, Hernandez said PDVSA's income from oil sales had
dropped to 7.2 billion dlrs in 1986, down 45 pct from last
year's 13.3 billion.
    Fiscal revenue from oil sales, which was estimated at 66
billion bolivares for 1986, totalled 43.5 billion, a drop of 34
pct which Hernandez said "had a very serious impact on
Venezuela."
    PDVSA's export volume averaged 1.508 mln barrels a day, of
which 658,000 bpd were crude oil and 850,000 bpd refined
products.
    The figure surpassed PDVSA's stated goal of 1.410 mln bpd
and the 1985 export volume of 1.371 mln bpd. But it was not
enough to cover the losses from a drop in the average price
from 25.88 dlrs per barrel in 1985 to 13.90 dlrs last year.
    The 13.90 per barrel price for 1986 was 1.01 dlrs higher
than the figure originally announced by the Central Bank.
Hernandez said the increase had come from a new accounting
system which included the results of PDVSA's overseas refining
and marketing operations.
    Consumption in Venezuela's internal market increased from
323,000 bpd in 1985 to 342,000 bpd last year. However,
Hernandez stressed that the government had managed to keep
gasoline sales almost constant at 164,000 bpd.
    Exploration by PDVSA led to an increase of 675 mln barrels
in reserves of light and medium crudes, shifting the balance of
Venezuela's reserves away from heavy crude oil. The country's
production capacity at year-end 1986 was 2.562 mln bpd, of
which 1.420 mln are light and medium crudes, Hernandez said.
     Venezuela's total proven reserves as of December 31, 1986
were 55.521 billion barrels, the fourth largest amount in the
world, Hernandez said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14486" NEWID="8965">
<DATE>24-MAR-1987 15:06:20.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2222&#31;reute
d f BC-AMERICAN-NETWORK-INC   03-24 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN NETWORK INC &lt;ANWI> DEC 31 YEAR NET</TITLE>
<DATELINE>    PORTLAND, Ore., March 24 -
    </DATELINE><BODY>Shr profit 16 cts vs loss 1.40 dlrs
    Net profit 3,000,000 vs loss 6,570,000
    Revs 91.7 mln vs 66.9 mln
    Avg shrs 19,078,072 vs 4,708,896
    Note: Current year net includes nine mln dlr net gain from
settlement of litigation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14487" NEWID="8966">
<DATE>24-MAR-1987 15:07:05.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2226&#31;reute
d f BC-TECHNIMED-CORP-SAID-C   03-24 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>TECHNIMED CORP SAID COMPANY CANCELLED CONTRACT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>&lt;Technimed Corp> said Garid Inc of
Eden Praries, Minn., has cancelled its requirements contract
wih Technimed for the supply of a dry chemistry device for the
Med-Pen system.
    Technimed has commenced arbitration proceeding against
Garid to recover damages associated with the termination of
contract. Technimed said further action maybe required to
protect its proprietary technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14488" NEWID="8967">
<DATE>24-MAR-1987 15:07:20.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2228&#31;reute
r f BC-RECENT-PROPOSED-OFFER   03-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>RECENT PROPOSED OFFERINGS FILED WITH SEC</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The following are proposed
securities offerings filed recently with the Securities and
Exchange Commission:
    Outboard Marine Corp - Up to 200 mln dlrs of debt
securities on terms to be set at the time of sale through an
underwriting group that is expected to include Salomon Brothers
Inc and Morgan Stanley and Co Inc.
    Osborn Communications Corp - Initial offering of one mln
shares of common stock and 30 mln dlrs of senior subordinated
ten-year notes through a group led by E.F. Hutton and Co Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14489" NEWID="8968">
<DATE>24-MAR-1987 15:07:38.74</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;f2230&#31;reute
s f BC-SIGNET-BANKING-CORP-R   03-24 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>SIGNET BANKING CORP REGULAR DIVIDEND</TITLE>
<DATELINE>    RICHMOND, Va, March 24 -
    </DATELINE><BODY>Qtly div 31 cts vs 31 cts prior
    Payable APril 22
    Record April three
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14490" NEWID="8969">
<DATE>24-MAR-1987 15:07:57.92</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;f2232&#31;reute
r f BC-MOTT'S-SUPER-MARKETS   03-24 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>MOTT'S SUPER MARKETS INC &lt;MSM> 4TH QTR JAN 3</TITLE>
<DATELINE>    EAST HARTFORD, Conn, March 24 -
    </DATELINE><BODY>Shr loss 15 cts vs loss 1.12 dlrs
    Net loss 414,331 vs loss 3.1 mln
    Revs 73.8 mln vs 69.1 mln
    Year
    Shr loss 99 cts vs loss 1.69 dlr
    Net loss 2.7 mln vs loss 4.7 mln
    Revs 276.9 mln vs 290.1 mnln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14491" NEWID="8970">
<DATE>24-MAR-1987 15:08:54.48</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;f2234&#31;reute
r f BC-ALEXANDER'S-&lt;ALX>-2ND   03-24 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>ALEXANDER'S &lt;ALX> 2ND QTR FEB 7</TITLE>
<DATELINE>    NEW YORK, March 24 -     </DATELINE><BODY>Shr 57 cts vs 72 cts
    Net 2.7 mln vs 3.3 mln
    Six months
    Shr 45 cts vs 84 cts
    Net 2.1 mln vs 3.8 mln
    NOTE:1987 six months includes 790,000 dlr charge. 1986 six
months includes 679,000 net gain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14492" NEWID="8971">
<DATE>24-MAR-1987 15:09:46.94</DATE>
<TOPICS><D>earn</D><D>crude</D><D>pet-chem</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2239&#31;reute
r f BC-imperial-oil-to-focus   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>IMPERIAL OIL &lt;IMO.A> TO FOCUS ON HIGHER PROFIT</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>Imperial Oil Ltd, 70 pct owned by Exxon
Corp &lt;XON>, will focus on maintaining its financial strength
and improving near-term earnings performance through operating
expense reductions and selective capital spending, the company
said in the annual report.
    Imperial Oil said it expects to spend about 750 mln dlrs on
capital and exploration expenditures in 1987, compared to 648
mln dlrs in 1986 and 1.16 billion dlrs in 1985.
    Imperial previously reported 1986 operating net profit fell
to 440 mln dlrs or 2.69 dlrs share from 694 mln dlrs or 4.27
dlrs share in the prior year.
    Imperial Oil said the attention to earnings results from
the desire to pursue longer term growth opportunities should
the investment climate improve and the belief that low or
volatile crude oil prices could continue during the next
several years.
    The company also said actions initiated during 1986 to
restructure and improve efficiency should continue to show
benefits in 1987.
    During 1986, the company cut operating, administrative and
marketing expenses by 91 mln dlrs and reduced the number of
workers by 16 pct to 12,500.
    Imperial chairman Arden Haynes said in the annual report
that it is too early to determine whether the recent upward
movement in international oil prices will be sustained.
    "It is still a time for prudence and caution, and the
company's actions will continue to be based on the fundamentals
of market supply and demand," he said.
    Haynes said prospects for the company's petroleum products
division are more promising than before, but are still
uncertain. Imperial's 1986 petroleum earnings rose to 174 mln
dlrs from 102 mln dlrs in 1985.
    Haynes said more satisfactory product margins on its
petroleum products could result if demand recovers as it has in
the United States.
    The company's chemicals business outlook is mixed, Haynes
said. Prospects for growth in petrochemical sales is good as
long as economic growth continues, but future large grain
surpluses could dampen fertilizer demand and maintain pressure
on prices.
    Imperial's chemical business earned 17 mln dlrs in 1986,
compared to three mln dlrs in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14493" NEWID="8972">
<DATE>24-MAR-1987 15:10:23.19</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;f2242&#31;reute
r f BC-NORTHEAST-UTILITIES-&lt;   03-24 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHEAST UTILITIES &lt;NU> YEAR</TITLE>
<DATELINE>   HARTFORD, Conn, March 24 -
    </DATELINE><BODY>Shr 2.78 dlrs vs 2.55 dlr
    NEt 302.0 mln vs 271.6 mln
    REvs 2.0 billion vs 2.1 billion
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14494" NEWID="8973">
<DATE>24-MAR-1987 15:11:18.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2246&#31;reute
h f BC-LEECO-DIAGNOSTICS-&lt;LE   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>LEECO DIAGNOSTICS &lt;LECO> AWARDED FEDERAL GRANT</TITLE>
<DATELINE>    SOUTHFIELD, Mich., March 24 - </DATELINE><BODY>Leeco Diagnostics Inc said
the National Institutes of Health have awarded it a two-year,
478,568 dlr federal grant to develop a new medical test kit to
diagnose and monitor diabetes mellitus.
    Leeco said the Institutes made the grant under their small
business innovation research program.
    The company said the research, beginning April 1, will
focus on developing a more effective technique for detecting
hemoglobin A1C in the blood. High levels of hemoglobin A1C can
indicate uncontrolled diabetes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14495" NEWID="8974">
<DATE>24-MAR-1987 15:11:31.33</DATE>
<TOPICS><D>acq</D><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;f2247&#31;reute
u f BC-CPC-&lt;CPC>-TO-SELL-EUR   03-24 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>CPC &lt;CPC> TO SELL EUROPEAN BUSINESS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>CPC International Inc said it reached
an agreement in principle to sell its European corn wet milling
business to Agricola Finanziaria SpA, a member of the Ferruzzi
Group, for a price in excess of 600 mln dlrs.
    The transaction is expected to be completed by September
30.
    CPC said it expects no material gain or loss this year from
the transaction. But the effect of the deal on 1987 earnings
can be evaluated in full only when the definitive pacts are
completed, it said.
    The long-term effect of the transaction on CPC's earnings
should be positive, it added, as it will allow capital
expenditures to be cut back and will reduce corporate and
divisional overheads as well as operating expenses in the
European business.
    The sale is an important part of a restructuring announced
in November, CPC said.
    Proceeds of the sale will be used to reduce debt incurred
in the purchase of the Arnold Foods and Old London specialty
baking businesses and the stock repurchase program that was 
part of the restructuring.
    As of December 31, CPC had bought about 15 mln of its
common shares, adjusted for a 2-for-1 split in January, for a
total cost of 621.8 mln dlrs, according to its 1986 annual
report.
    In December, CPC acquired Arnold Foods and Old London for a
total of about 170 mln dlrs.
    CPC had previously said it wanted to sell the European corn
wet milling business and use the proceeds to help reduce debt,
including that incurred under the share buyback.
    In total, CPC has bought back about 16 mln shares of common
stock, adjusted for the split, it said today. In November it
authorized a buyback of 20 mln shares, adjusted for the split.
    The buyback and the restructuring were triggered in
November, after companies controlled by Ronald Perelman,
chairman of Revlon Group Inc &lt;REV>, acquired about 7.6 pct of
CPC's then outstanding stock.
    In 1986, the European corn wet milling business had sales
of 914.1 mln dlrs, operating income before overheads of 68.8
mln dlrs and associated headquarters overhead costs of 19.7 mln
dlrs, according to CPC's 1986 annual report.
    The businesses' assets were 645.7 mln dlrs in 1986, the
report said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14496" NEWID="8975">
<DATE>24-MAR-1987 15:12:29.77</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2250&#31;reute
r f BC-MOBEX-COMPLETES-GRANT   03-24 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBEX COMPLETES GRANT INDUSTRIES &lt;GTX> TENDER</TITLE>
<DATELINE>    LOS ANGELES, March 24 - </DATELINE><BODY>Mobex Corp, a private building
product concern, said as of late yesterday it had accepted
about 2.3 mln shares or 98 pct of Grant Industries Inc under a
tender offer.
    The 7.75 dlrs a share cash offer expired at 2000 EST
yesterday. Mobex said its Mobex Acquisition Corp unit accepted
2,316,940 shares of Grant common, or about 98 pct of the
2,369,799 shares presently outstanding, at the tender price.
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14497" NEWID="8976">
<DATE>24-MAR-1987 15:13:03.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2253&#31;reute
u f BC-LEUCADIA-NATIONAL-COR   03-24 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>LEUCADIA NATIONAL CORP &lt;LUK> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Shr 3.28 dlrs vs 22 cts
    Shr diluted 2.99 dlrs vs 22 cts
    Net 46.0 mln vs 3,328,000
    Avg shrs 14.0 mln vs 15.2 mln
    Year
    Shr 5.41 dlrs vs 1.56 dlrs
    Shr diluted 4.94 dlrs vs 1.50 dlrs
    Net 78.2 mln vs 25.9 mln
    Avg shrs 14.5 mln vs 15.1 mln
    NOTE: earnings per share reflect the two-for-one split
effective January 6, 1987.
    per share amounts are calculated after preferred stock
dividends.
    Loss continuing operations for the qtr 1986, includes gains
of sale of investments in Enron Corp of 14 mln dlrs, and
associated companies of 4,189,000, less writedowns of
investments in National Intergroup Inc of 11.8 mln and BRAE
Corp of 15.6 mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14498" NEWID="8977">
<DATE>24-MAR-1987 15:13:43.09</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;f2256&#31;reute
r f BC-TELECOM-&lt;TELE>-COMPLE   03-24 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>TELECOM &lt;TELE> COMPLETES SALE</TITLE>
<DATELINE>    BOCA RATON, Fla, March 24 - </DATELINE><BODY>Telecom Plus INternational Inc
said it completed the sale of its 65 pct interest in Tel Plus
Communications Inc to Siemens Information Systems INc for about
173 mln dlrs.
    Telecom received 107 mln dlrs at closing with the balance
to be paid in installments. Siemen said it will dispute various
matters in the financial statement issues and other matters, it
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14499" NEWID="8978">
<DATE>24-MAR-1987 15:14:04.03</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>uk</D><D>haiti</D><D>czechoslovakia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2257&#31;reute
d f BC-HAITI,-CZECHOSLOVAKIA   03-24 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>HAITI, CZECHOSLOVAKIA JOIN COCOA ORGANIZATION</TITLE>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>Haiti and Czechoslovakia have joined the
International Cocoa Organization (ICCO), bringing membership in
the United Nations charter body to 18 importing countries and
17 exporters, ICCO officials said.
    Haiti has provisionally applied to the ICCO as an exporting
member, and accounts for 0.92 pct of world cocoa exports, they
said. Czechoslovakia joined as an importer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14500" NEWID="8979">
<DATE>24-MAR-1987 15:14:15.95</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;f2258&#31;reute
b f BC-INTEGRATED-RESOURCES   03-24 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>INTEGRATED RESOURCES INC &lt;IRE> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Oper primary shr 1.03 dlr vs 2.55 dlrs
    Oper diluted shr 94 cts vs 1.76 dlrs
    Oper net 15.2 mln vs 23.4 mln
    Revs 272.0 mln vs 232 mln
    Avg shrs primary 7,625,000 vs 5,534,000
    Avg shrs diluted 12.3 mln vs 10.3 mln
    Year
    Oper shr 1.06 dlr vs 3.17 dlrs
    Oper net 39 mln vs 56.1 mln
    Revs 830.2 mln vs 657.9 mln
    Avg shrs 7,490,000 vs 5,557,000
    NOTE: 1986 oper net excludes 10.4 mln dlrs for discontinued
operations.
    1985 4th qtr excludes a loss of 4,570,000 dlrs and
6,330,000 dlrs, respectively, for discontinued operations.
    1986 oper net excludes a 10.5 mln dlr or 1.40 dlr per shr
loss from early extinquishment of notes.
    1986 and 1985 oper per share amounts are reported after
paying 31.0 mln dlrs and 38.5 mln dlrs, respectively, for
preferred stock dividends.
    1986 and 1985 4th qtr per share amounts are reported after
paying 7,292,000 dlrs and 9,333,000 dlrs, respectively, for
preferred stock dividends.
    1985's discontinued operations are restated.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14501" NEWID="8980">
<DATE>24-MAR-1987 15:27:14.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2305&#31;reute
u f BC-NEW-S.AFRICA-ACCORD-W   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW S.AFRICA ACCORD WITH BANKS BROUGHT COMPROMISE</TITLE>
<AUTHOR>    By Marguerite Nugent, Reuters</AUTHOR>
<DATELINE>    LONDON, March 24 - </DATELINE><BODY>A new agreement covering the repayment
of part of South Africa's foreign debt represents a compromise
between that country and its commercial bank creditors
following several weeks of intense and difficult negotiations,
senior banking sources said.
    In Pretoria, Reserve Bank Governor Gerhard De Kock termed
the agreement a "good deal" for both South Africa and the banks.
    But as one senior banker noted, "It is probably the best we
could hope for. We (the banks) wanted more money and they (the
South Africans) didn't want to pay."
    The new agreement will extend for three years the
standstill arrangement that has been in place since August 1985
and which was due to expire on June 30.
    Depending on the maturity of the various debts, banks will
receive on July 15 repayments representing three pct of the
arrears and the overdue debt covered by the standstill.
    It also will require the repayment over the life of the
standstill of another 10 pct of the overdue debt spread over
six month invervals and depending on the maturity of the
various debts for a total of slightly more than 1.4 billion
dlrs.
    Last year South Africa repaid about 500 mln dlrs out of the
14 billion dlrs covered by the standstill. At the time, bankers
had argued - unsuccessfully - for a larger repayment given the
country's trade surplus of 2.5 billion dlrs.
    Bankers had hoped that this time they could secure an even
larger repayment of around one billion dlrs. Although there had
been speculation that the standstill would be extended for
three years, many did not believe that a long term pact would
be acceptable to U.S. banks. Those banks have taken a hard line
in the negotiations because of America's strong anti-apartheid
policies.
    The agreement reached today differs very little from the
one reached a little over a year ago. However, it does include
one moderation of an option contained in that pact which
introduces yet another "catchphrase" into the jargon for
reschedulings.
    The new agreement contains an "exit vehicle" under which
banks can convert their debt into 10 year loans. Under the
previous agreement banks were only given options for three year
loans.
    While the option may be unpalatable to the U.S. banks, it
could offer others a potential repayment of slightly more than
half their investment over the next seven years.
    To convert the debts, a bank would have to find a borrower
looking for a loan with a 10-year maturity and then negotiate
individually the interest rates to be charged.
    The loans would not represent any new money and as the loan
would be the obligation of the new borrower there would be a
repayment stream that could give the bank as much as 52 pct of
face value by year seven, one banker said.
    Bankers suggested that depending on a banks' political and
economic forecasts for South Africa, if it decided to take the
option it may not have much difficulty finding such borrowers.
They noted that South Africa's Public Investment Commission is
an active borrower in this area of the market.
    Today's agreement was reached between South Africa's chief
debt negotiator Chris Stals, who chairs its Standstill
Coordinating Commmittee and representatives of the 12 banks on
the commercial bank technical committee.
    The bankers said that telexes will be sent today to the
country's other 330 bank creditors and that documentation
covering the proposal will be mailed out shortly.
    Because of the banks' sensitivity to South Africa's
apartheid regime, the previous negotiations were conducted with
Fritz Leutwiler, the former head of the Swiss National Bank,
acting as mediator.
    Leutwiler was not involved with these talks and has not
involved himself in the negotiations since last year, the
bankers said.
    Last time, the banks sent their responses on the proposal
to Leutwiler who in turn notified the South Africans. This time
the procedure will be less structured and will be up to the
individual banks as to how they wish to handle it.
    Although talks had been held in recent weeks between the
South Africans and the banks, the completion of the agreement
on the repayments took many in the financial community by
surprise.
    A review of South Africa's economy by the technical
committee's economic sub-committee was to be held in February
while the talks for the rescheduling were due to start some
time this month or next month.
    However, the bankers said that because of all the publicity
which surrounds South African debt negotiations, the meetings
were kept secret.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14502" NEWID="8981">
<DATE>24-MAR-1987 15:29:37.84</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;f2313&#31;reute
r f BC-WEAN-UNITED-INC-&lt;WID>   03-24 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>WEAN UNITED INC &lt;WID> 4TH QTR</TITLE>
<DATELINE>    PITTSBURGH, March 24 -
    </DATELINE><BODY>Shr loss one dlr vs profit seven cts
    Net loss 3.0 mln vs profit 349,000
    Revs 35.6 mln vs 49.3 mln
    Year
    Shr loss 2.87 dlrs vs loss 2.71 dlrs
    Net loss 8.4 mln vs loss 7.9 mln
    Revs 140.3 mln vs 169.2 mln
    NOTE:earnings reflect preferred dividend requirements, 1986
year includes one-time gain of 1.2 mln dlrs
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14503" NEWID="8982">
<DATE>24-MAR-1987 15:30:49.56</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2317&#31;reute
r f AM-TRADE-LEGISLATION   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PANEL EASES SOVIET EXPORT CONTROLS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The U.S. House Foreign Affairs
Committee voted to ease restrictions on exports that are now
kept from shipment to Soviet-bloc countries but are no longer a
threat to U.S. national security.
    The Democratic-controlled committee said the
administration's export control policies, which restrict
shipment of thousands of products, contributed to last year's
record 169 billion dlr U.S. trade deficit.
    The committee said the legislation will cut government red
tape and make it easier for U.S. companies to compete with
foreign producers since many of the goods are readily available
from other countries.
    Rep. Don Bonker, chairman of the International Economic
Policy subcommittee, said the unnecessary restrictions had cost
the U.S. 17 billion dlrs in exports a year.
    "This is Congress' number one opportunity to attack the
trade deficit in a positive way by exporting more," the
Washington Democrat said.
    The legislation would order the Commerce Department to lift
controls on 40 pct of goods on the restricted export list over
the next three years unless other countries agree to comparable
controls.
    Most of these are of the least sophisticated type of
technology such as medical instruments.
    It would also give the Commerce Department primary
authority to decide which exports will be permitted and limit
the Defense Department to an advisory role in reviewing
requests to export highly-sensitive technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14504" NEWID="8983">
<DATE>24-MAR-1987 15:33:36.34</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2332&#31;reute
f f BC-ussr-export-sale   03-24 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. EXPORTERS REPORT 200,000 TONNES CORN  SWITCHED FROM UNKNOWN TO USSR FOR 1986/87
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14505" NEWID="8984">
<DATE>24-MAR-1987 15:37:47.95</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2346&#31;reute
f f BC-******BALDRIGE-SAYS-C   03-24 0018</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BALDRIGE SAYS CHANGES NEEDED IN EXCHANGE RATES OF CURRENCIES PEGGED TO DOLLAR
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14506" NEWID="8985">
<DATE>24-MAR-1987 15:38:33.78</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2353&#31;reute
f f BC-******CHARTER-CO-4TH   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CHARTER CO 4TH QTR NET PROFIT 118.8 MLN DLRS VS LOSS 13 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14507" NEWID="8986">
<DATE>24-MAR-1987 15:39:41.53</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;f2354&#31;reute
u f BC-ALEXANDER'S-&lt;ALX>-2ND   03-24 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>ALEXANDER'S &lt;ALX> 2ND QTR ENDS FEB 27 NET</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Shr 57 cts vs 72 cts
    Shr diluted 57 cts vs 66 cts
    Net 2,699,000 vs 3,250,000
    Revs 190.8 mln vs 195.9 mln
    Six mths
    Shr 45 cts vs 84 cts
    Shr diluted 45 cts vs 79 cts
    Net 2,092,000 vs 3,784,000
    Revs 304.2 mln vs 304.6 mln
    NOTE: includes a change in accounting for investment tax
credit of 1,408,000, or 31 cts per share, in six mths prior.
    first qtr 1987 includes non-recurring charge of 1,488,000
for company's abandoning of its plan to convert to a limited
partnership.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14508" NEWID="8987">
<DATE>24-MAR-1987 15:40:32.59</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2357&#31;reute
r f BC-STANADYNE-&lt;STNA>,-UNI   03-24 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>STANADYNE &lt;STNA>, UNITED TECHNOLOGIES END TALKS</TITLE>
<DATELINE>    WINDSOR, Conn, March 24 - </DATELINE><BODY>Stanadyne Inc said it terminated
discussions about its proposed purchase of United Technologies
Corp's Diesel Systems &lt;UTX> unit.
    The reason was not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14509" NEWID="8988">
<DATE>24-MAR-1987 15:42:02.09</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;f2361&#31;reute
r f BC-UNOCAL-&lt;UCL>-UNIT-OFF   03-24 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>UNOCAL &lt;UCL> UNIT OFFERS 450 MLN DLRS OF NOTES</TITLE>
<DATELINE>    LOS ANGELES, March 24 - </DATELINE><BODY>Unocal Corp said its Union Oil Co
of California unit is making a public offering of 450 mln dlrs
of long-term notes.
    It said the issues consist of 150 mln dlrs of non-callable
notes due April 1, 1994, which are priced at par with a coupon
rate of 8-1/2 pct and a 300 mln dlr issue of notes due April 1,
1997, with a coupon rate of 8-3/4 pct and priced at 99.447 to
yield 8.83 pct.
    The 300 mln dlr issue is callable at par after seven years,
the company said.
    It also said the issues are being drawn from Unocal's shelf
registration statement filed in December 1985.
    Merrill Lynch Capital Markets and Shearson Lehman Brothers
Inc are lead underwriters, Unocal said.
    It said proceeds will be used to pre-pay a portion of its
existing floating rate bank debt, thereby extending the
maturity of the company's overall debt structure.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14510" NEWID="8989">
<DATE>24-MAR-1987 15:46:15.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2363&#31;reute
r f BC-ATT-&lt;T>-LAUNCHES-NEW   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ATT &lt;T> LAUNCHES NEW SOFTWARE PACKAGES</TITLE>
<DATELINE>    PHILADELPHIA, March 24 - </DATELINE><BODY>American Telephone and Telegraph
Co said it is introducing four new software packages for
graphic designers and those who produce slides who need
advanced but inexpensive software.
    ATT said the new products are the first in its line of
SoftVisions software and are designed for use with its
Truevision videographics boards. It said those boards are
adapted to let its PC 6300s series and compatible personal
computers display television-quality video images.
    Earlier today, ATT introduced a new minicomputer and other
computer peripheral products.
    Among the new software packages ATT is introducing are RIO,
which it said cuts the time and cost involved in producing
high-quality 35-millimeter slides with a mix of still video and
computer-generated images. It costs 1,250 dlrs.
    Another product, ImageMaster, lets PC users reproduce
images created with any of ATT's Truevision boards, said ATT.
That system also costs 1,250 dlrs.
    The two other systems are TARGA CAD Driver, which sells for
225 dlrs, and ImageStation, with a list price of 1,250 dlrs.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14511" NEWID="8990">
<DATE>24-MAR-1987 15:47:30.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE><D>du-plessis</D><D>de-kock</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f2371&#31;reute
r f BC-SOUTH-AFRICA,-CREDITO   03-24 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA, CREDITOR BANKS AGREE ON DEBT PLAN</TITLE>
<DATELINE>    PRETORIA, March 24 - </DATELINE><BODY>South Africa will repay 13 pct of its
frozen 13 billion dollar debt to foreign creditors over the
next three years under an agreement reached today in London,
Finance Minister Barend du Plessis said.
    He said South Africa already had repaid five pct of the
debt under the standstill agreement expiring on June 30, 1987.
    "These arrangements confirm South Africa's continued
willingness to maintain good relations with its foreign
creditors and to meet its foreign commitments in a orderly way,"
du Plessis told a news conference.
    Du Plessis said the new interim debt agreement was
"substantially a continuation" of the arrangement ending in June
and calls for South Africa to continue paying all interest on
its total foreign debt of over 23 billion dlrs.
    Du Plessis said 34 banks holding more than 70 pct of the
frozen debt agreed to the new arrangement worked out with South
African negotiators in London. About 300 other creditor banks
also are expected to approve the agreement, he said.
    Reserve Bank governor Gerhard de Kock said the agreement
was a "good deal" both for South Africa and the banks.
    Speaking at the same news conference, de Kock said the
three-year length of the agreement was of "enormous significance"
to South Africa.
    He said South Africa had negotiated from a "position of
basic economic financial strength."
    "We were never overborrowed to begin with and we are now
underborrowed by all international criteria that I've ever
heard of," de Kock said.
    Du Plessis said available foreign reserves of the Reserve
Bank, which increased by about 800 mln dlrs in the past two
months, and a continued current account surplus "will be
sufficient" to meet terms of the new interim debt agreement.    
Du Plessis said the banks were showing much more confidence in
the South African economy and country as a whole.
    He attributed this to "restoration of law and order which
has greatly reduced not only the extent of unrest but also the
intensity of unrest."
    South Africa has been under a state of emergency since June
1986 because of black political violence that has claimed over
2,400 lives in the past three years.
    Du Plessis said no political demands were made by the banks
and South Africa was now rapidly returning to very good
relations with its foreign creditors.
    He said there were encouraging signs that some foreign
investors were again "taking a more realistic view" of South
Africa. Recent examples were the rise in the financial rand and
the sharp increase in foreign exchange reserves, he said.
    Of the 13 billion dlrs frozen debt 3.5 billion was owed by
public sector and 9.5 billion by private industry, du Plessis
said. The remaining 10 billion consists of seven billion owed
by government agencies and three billion by the private sector.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14512" NEWID="8991">
<DATE>24-MAR-1987 15:49:06.93</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f2379&#31;reute
r f BC-CITICORP-&lt;CCI>-RULES   03-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CITICORP &lt;CCI> RULES OUT CREDIT CARD PRICE WAR</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>American Express Co's &lt;AXP> recent
launch of a new "OPTIMA" credit card, with relatively low
interest rates and fees, will increase competition with bank
credit-card issuers but will not lead to a pricing war, a
senior Citicorp offical said.
    "Over the next two to three years, a very interesting
marketing battle will be fought ... competition will not be on
price but on product features," Pei-yuan Chia, head of the U.S.
card products group, told a banking analysts meeting.
    Citicorp is the leading U.S. bank credit-card issuer, with
some 10 mln accounts and an 11 pct market share.
    Chia said that Citicorp would focus its credit card
marketing efforts on acceptance, noting that Visa and
Mastercard currently enjoy a two-to-one advantage over American
Express in terms of worldwide acceptance.
    He also doubted the popularity of American Express' plan to
link interest charges on the new OPTIMA card to the bank prime
lending rate. "The consumer likes to have a fixed rate
instrument," he said.
    Richard Braddock, head of the whole individual banking
division, added that when there is increased competition, "it
is not the big people who get crunched but the small ones."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14513" NEWID="8992">
<DATE>24-MAR-1987 15:49:33.70</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;f2380&#31;reute
r f BC-NEW-PROCESS-CO-&lt;NOZ>   03-24 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW PROCESS CO &lt;NOZ> SETS QTLY PAYOUT</TITLE>
<DATELINE>    WARREN, Pa., March 24 - </DATELINE><BODY>New Process Co said it declared a
quarterly dividend of 12-1/2 cts, the regular dividend it pays
during the first three quarters of the year.
    The dividend is payable May 1 to shareholders of record
April 10.
    Last year, New Process paid an annual dividend of 1.18 dlrs
by paying 12-1/2 cts a share in each of the first three
quarters and a fourth quarter dividend of 80-1/2 cts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14514" NEWID="8993">
<DATE>24-MAR-1987 15:49:45.12</DATE>
<TOPICS><D>grain</D><D>corn</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2381&#31;reute
b f BC-ussr-export-sale   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA REPORTS CORN SWITCHED TO USSR</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The U.S. Agriculture Department said
private U.S. exporters reported 200,000 tonnes of corn
previously to unknown destinations have been switched to the
Soviet Union.
    The corn is for delivery during the 1986/87 marketing year
and under the fourth year of the U.S.-USSR Long Term Grain
Supply Agreement.
    The marketing year for began September 1.
    Sales of corn to the USSR for delivery during the fourth
year of the agreement -- which began October 1, 1986 -- now
total 2,600,000  tonnes, it said.
    In the third agreement year sales totaled 6,960,700 tonnes
-- 152,600 tonnes of wheat and 6,808,100 tonnes of corn.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14515" NEWID="8994">
<DATE>24-MAR-1987 15:52:25.54</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;f2385&#31;reute
r f BC-CANADIAN-AIRLINE-IN-B   03-24 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADIAN AIRLINE IN BUY FROM BRITISH AEROSPACE</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>&lt;Pacific Western Airlines Corp>'s new
Canadian Airlines International Ltd unit said it ordered six
new Jetstream 31 airplanes and took options on six more from
British Aerospace Inc, with delivery starting May 1.
    Cost of the planes totaled about 30 mln Canadian dlrs, said
a Canadian Airlines spokesman in reply to a query.
    The airline said the 19-seat aircraft would be used by a 49
pct-owned commuter airline being formed for service in Ontario.
Canadian International, as earlier reported, was formed from
the merger of Pacific Western's Pacific Western Airlines Ltd
unit and Canadian Pacific Airlines Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14516" NEWID="8995">
<DATE>24-MAR-1987 15:53:26.81</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;f2388&#31;reute
r f BC-PETROLEUM-EQUIPMENT-T   03-24 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>PETROLEUM EQUIPMENT TOOLS CO &lt;PTCO> 4TH QTR</TITLE>
<DATELINE>    HOUSTON, March 24 -
    </DATELINE><BODY>Shr loss 57 cts vs loss 30 cts
    Net loss 5.9 mln vs loss 3.2 mln
    Revs 5.6 mln vs 16.3 mln
    Year
    Shr loss 2.11 dlrs vs loss 95 cts
    Net loss 22.0 mln vs loss 9.9 mln
    Revs 29.3 mln vs 66.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14517" NEWID="8996">
<DATE>24-MAR-1987 15:53:47.96</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;f2389&#31;reute
r f BC-SUNDOR-GROUP-BUYS-DWG   03-24 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>SUNDOR GROUP BUYS DWG &lt;DWG> UNIT'S ASSETS</TITLE>
<DATELINE>    DARIEN, Conn., March 24 - </DATELINE><BODY>&lt;Sundor Group Inc> said it
purchased DWG Corp's Texun Inc's line of regional juice
products.
    The purchase terms were not disclosed, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14518" NEWID="8997">
<DATE>24-MAR-1987 15:54:27.50</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;f2393&#31;reute
r f BC-QUICK-AND-REILLY-GROU   03-24 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>QUICK AND REILLY GROUP &lt;BQR> 4TH QTR FEB 28</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Shr 72 cts vs 57 cts
    Net 4.5 mln vs 3.6 mln
    Revs 25.1 mln vs 21.9 mln
    Year
    Shr 2.47 dlrs vs 1.87 dlr
    Net 15.6 mln vs 11.8 mln
    Revs 89.1 mln vs 73.3 mln
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14519" NEWID="8998">
<DATE>24-MAR-1987 15:55:18.11</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;f2396&#31;reute
r f BC-HAYES-ALBION-&lt;HAY>-CO   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>HAYES-ALBION &lt;HAY> COMPLETES GOING PRIVATE DEAL</TITLE>
<DATELINE>    DETROIT, March 24 - </DATELINE><BODY>Hayes-Albion Corp said its shareholders
approved a plan to merge with and become a wholly onwed
subsidiary of privately held Harvard Industries Inc.
    St. Louis-based Harvard Industries, a manufacturer and
distributor of automobile supplies, held 80 pct of Hayes
following completion of a 13 dlrs a share cash tender offer in
December.
    Under the merger agreement, remaining shareholders of
Hayes, a Jackson, Mich.-based maker of auto supplies, will
receive 13 dlrs cash for their shares.
    Trading in Hayes common will cease at the close of business
today, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14520" NEWID="8999">
<DATE>24-MAR-1987 15:55:25.40</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;f2397&#31;reute
b f BC-/CHARTER-CO-&lt;QCHR>-4T   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>CHARTER CO &lt;QCHR> 4TH QTR OPER LOSS</TITLE>
<DATELINE>    JACKSONVILLE, Fla., March 24 -
    </DATELINE><BODY>Oper shr loss one ct vs loss four cts
    Oper net loss 336,000 vs profit 2,631,000
    Revs 237.2 mln vs 382.3 mln
    Avg shrs 47.4 mln vs 16.5 mln
    Year
    Oper shr profit 21 cts vs profit 12 cts
    Oper profit 9,922,000 vs profit 15.1 mln
    Revs 1.1 billion vs 1.6 billion
    Avg shrs 47.4 mln vs 16.5 mln
    NOTE: 1986 4th qtr and year oper net excludes a gain of
28.6 mln dlrs and 28.5 mln dlrs or 60 cts per share,
respectively, for discontinued operations.
    1986 4th qtr and year oper net excludes a gain of 90.5 mln
dlrs or 1.91 dlr per share and 114.8 mln dlrs or 2.42 dlrs per
share, respectively, mainly for settlement of dioxin-related
claims in reorganization proceedings.
    1985 4th qtr and year oper net excludes a loss of 41.2 mln
dlrs or 2.51 dlrs per share and a loss of 36.3 mln dlrs or 2.21
dlrs per share, respectively, for discontinued operations.
    1985 4th qtr and year oper net excludes a gain of 25.6 mln
dlrs or 1.56 dlr per share and 29.4 mln dlrs or 1.79 dlrs per
share for settlement of claims and utilization of tax loss
carryforward.
    1985 year oper net also excludes a loss of seven mln dlrs
for change in inventory evaluation method.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14521" NEWID="9000">
<DATE>24-MAR-1987 15:57:27.08</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;f2404&#31;reute
r f BC-S/P-MAY-DOWNGRADE-MAR   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P MAY DOWNGRADE MARK IV INDUSTRIES &lt;IV> DEBT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Standard and Poor's Corp said it may
downgrade Mark IV Industries Inc's 200 mln dlrs of B-minus
subordinated debt.
    S and P cited the firm's tender offer to acquire Conrac
Corp &lt;CAX> for 152.5 mln dlrs. Conrac has no rated debt.
    Although Mark IV has an overall favorable business
standing, the acquisition would impair earnings and cash flow
protection, S and P said.
    S and P pointed out that debt leverage would rise to about
90 pct, assuming total debt financing. It said it will review
the company's management strategy and financial plans.
             
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
