<!DOCTYPE lewis SYSTEM "lewis.dtd">
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7446" NEWID="18001">
<DATE> 2-JUN-1987 10:04:07.81</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>sarney</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1027&#31;reute
u f BC-BRAZIL'S-SARNEY-DECLA   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL'S SARNEY RENEWS CALL FOR WAR ON INFLATION</TITLE>
<DATELINE>    BRASILIA, June 2 - </DATELINE><BODY>President Jose Sarney today declared "a
war without quarter" on inflation and said the government would
watch every cent of public expenditure.
    Sarney, addressing his cabinet live on television, also
reiterated that he intended to remain in power for five years,
until 1990. There has been a long-running political debate
about how long his mandate should be.
    Brazil is currently suffering from the worst inflation of
its history. In April monthly inflation reached 21 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7447" NEWID="18002">
<DATE> 2-JUN-1987 10:04:26.11</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>reagan</D><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1030&#31;reute
f f BC-******REAGAN-SAYS-VOL   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REAGAN SAYS VOLCKER WILL NOT ACCEPT 3rd TERM AS FED CHAIRMAN, NOMINATES GREENSPAN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7448" NEWID="18003">
<DATE> 2-JUN-1987 10:05:19.67</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;f1034&#31;reute
b f BC-/U.S.-HOME-SALES-ROSE   06-02 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOME SALES ROSE 7.6 PCT IN APRIL</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Sales of new, single-family homes rose
7.6 pct in April from March to a seasonally adjusted annual
rate of 777,000 units, the Commerce Department said.
    The department revised March sales to show a 2.7 pct
decrease from the previous month to 722,000 units instead of
the previously reported 3.6 pct drop in March.
    The April increase brought home sales 12.0 pct below the
April, 1986, level of 883,000 units.
    The April increase brought home sales to the highest level
since last April's 883,000 units.
    The Commerce Department said that before seasonal
adjustment, the number of homes actually sold in April was
76,000, up from 71,000 in March but down from 84,000 in April,
1986.
    The average price was 118,800 dlrs in April, down from
121,200 dlrs in March but up from 110,300 dlrs a year ago.
    The median price was unchanged from March at 99,000 dlrs
but up from 92,500 dlrs in April, 1986, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7449" NEWID="18004">
<DATE> 2-JUN-1987 10:06:06.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1036&#31;reute
b f BC-BRIXTON-ESTATE-LAUNCH   06-02 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>BRIXTON ESTATE LAUNCHES UNLIMITED STG CP PROGRAM</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Brixton Estate Plc is establishing a
sterling commercial paper program for an unlimited amount, J.
Henry Schroder Wagg and Co Ltd said as arranger.
    Dealers will be Schroder Wagg, S.G. Warburg and Co Ltd and
County Natwest Capital Markets Ltd.
    The paper will be issued in denominations of 500,000 and
one mln stg and will have maturities between seven and 364
days.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7450" NEWID="18005">
<DATE> 2-JUN-1987 10:06:53.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D><D>volcker</D><D>greenspan</D><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1037&#31;reute
b f BC-REAGAN-FED   06-02 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN SAYS VOLCKER WILL NOT SERVE NEW TERM</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>President Reagan said Paul Volcker has
declined to serve another term as chairman of the Federal
Reserve Board, the U.S. central bank. Reagan
nominated economist Alan Greenspan in his place.
    Volcker's term expires in August.
    Reagan, in a brief announcement in the White House briefing
room, said he accepted Volcker's decision "with great reluctance
and regret."
    Volcker, first appointed to the Fed post by President Jimmy
Carter in 1979, said "there is a time to leave and a time to
come ... I have no feeling I was being pushed."
    Volcker, appearing with Reagan, Greenspan, and Treasury
Secretary James Baker in the briefing room, said he will remain
on the job until Greenspan's nomination is approved by the
Senate.
    In a tribute to a smiling Volcker standing beside him,
Greenspan told reporters that one of the departing chairman's
greatest achievements was reducing inflation.
    "It will be up to those of us who follow him to be certain
that those very hard won gains will not be lost. Assuring that
will be one of my primary goals," Greenspan said.
    Financial markets reacted with dismay at the departure of
Volcker, who has been widely credited with holding the line on
inflation and seeking to maintain stability in currency values.
    Immediately following Reagan's announcement, the U.S.
dollar weakened sharply against all major currencies and both
the bond and stock markets declined.
    But Greenspan told reporters he thought the dollar, which
has fallen sharply over the past year, has reached its low
point.
   
    "There certainly is evidence in that direction," Greenspan
said when reporters asked if the dollar has bottomed out.
    The market reaction was probably exaggerated by surprise
because the announcement followed a number of published reports
that the White House had decided to reappoint Volcker.
    Volcker's tenure at the Fed began under the cloud of major
inflation under Carter with consumer prices rising more than 10
per cent annually and the prime interest rate exceeding 20 per
cent.
   
    With Reagan's backing, Volcker pursued a tight money policy
that cut inflation to about three per cent annually and reduced
interest rates to their lowest level in nearly a decade.
    The tight money policies were also blamed for producing
a deep recession in 1981 and 1982 that caused major political
problems for Reagan.
    Reagan reappointed Volcker to the chairmanship in 1983.
   
    Greenspan, who heads his own Wall Street consulting firm,
was chairman of President Ford's Council of Economic Advisers
from September 1974 until January 1977.
    Greenspan, a Republican, is considered a traditional
conservative economist and has been an adviser to several
presidents.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7451" NEWID="18006">
<DATE> 2-JUN-1987 10:11:04.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1051&#31;reute
u f BC-BELGIAN-PUBLIC-SPENDI   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN PUBLIC SPENDING DEFICIT FALLS IN MAY</TITLE>
<DATELINE>    BRUSSELS, June 2 - </DATELINE><BODY>Belgium's public expenditure deficit
fell sharply to 59.5 billion francs in May from 96.7 billion in
the same month last year, the first major sign of the effects
of the government's public spending curbs, the Budget Ministry
said.
    During the first five months of this year, the net
government financing requirement was down by 44.1 billion
francs from year ago levels at 345.8 billion francs, it said in
a statement.
    The government is aiming to cut this year's financing
requirement to below 420 billion francs this year from around
560 billion in 1986.
    The Ministry said it was expected that more than half the
projected cut should have been achieved by the end of July.
    Ministry sources noted that for technical reasons, the
financing requirement is always highest in the early months of
the year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7452" NEWID="18007">
<DATE> 2-JUN-1987 10:11:37.96</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
u f BC-CHRISTIANIA-RAISES-AM   06-02 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRISTIANIA RAISES AMOUNT OF GOLD LINKED BOND</TITLE>
<DATELINE>    ZURICH, June 2 - </DATELINE><BODY>Norway's Christiania Bank &lt;CHBO.OL> is
increasing the size of its 2-1/2 pct seven year bond issue with
gold call and put warrants to 75 mln Swiss francs from 50 mln,
lead manager Bank Gutzwiller, Kurz, Bungener Ltd said.
    The issue is priced at par.
    Each 5,000 franc bond carries three 18 month call warrants
with a strike price of 490 dlrs and four three year put
warrants with a strike price of 420 dlrs.
    Subscriptions close on June 22 and payment date is July 8.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7453" NEWID="18008">
<DATE> 2-JUN-1987 10:13:22.63</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;f1060&#31;reute
b f BC-/U.S.-FACTORY-ORDERS   06-02 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FACTORY ORDERS ROSE 0.2 PCT IN APRIL</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>New orders for manufactured goods rose
401 mln dlrs, or 0.2 pct, in April to a seasonally adjusted
199.8 billion dlrs, the Commerce Department said.
    The slight April gain followed a revised orders increase in
March of 2.6 pct. The department originally reported a March
increase of 2.3 pct. Excluding defense, factory orders fell 0.2
pct in April after rising 1.1 pct in March.
    Orders for durable goods were virtually unchanged in April,
up only 13 mln dlrs to 106.2 billion dlrs. The department had
estimated on May 22 that April durable goods orders rose 0.1
pct.
    The department said defense capital goods orders were up
808 mln dlrs, or 8.1 pct, in April to 10.8 billion dlrs.
Defense orders had risen 43.2 pct in March.
    New orders for non-durable goods were up 388 mln dlrs, or
0.4 pct, in April to 93.6 billion dlrs.
    These figures compared with a March increase of 4.2 pct in
durables orders and a 0.8 pct rise in non-durables orders.
    Orders for non-defense capital goods were up 0.8 pct in
April after rising 2.0 pct in March.
    Within major industry categories orders for transportation
equipment fell 7.6 pct in April after rising 10.8 pct in March.
    Primary metals gained 5.4 pct in April after a 6.8 pct
March orders increase.
    Orders for non-electrical machinery were down 0.9 pct in
April after rising 2.3 pct in March. Electrical machinery
orders rose during April by 19.3 pct after falling in March by
3.4 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7454" NEWID="18009">
<DATE> 2-JUN-1987 10:13:44.37</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1062&#31;reute
r f BC-PAKISTAN-SAYS-GOOD-EC   06-02 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>PAKISTAN SAYS GOOD ECONOMIC GROWTH CONTINUES</TITLE>
<DATELINE>    ISLAMABAD, June 2 - </DATELINE><BODY>Pakistan says its economy has continued
its recent outstanding performance during the financial year
1986/87 ending on June 30 but areas like balance of payments,
investments and energy were causing concern.
    GDP grew in line with the average growth rate since 1980
and the inflation rate was the lowest since 1969/70, according
to a government economic survey.
     The reform of economic regulation had gathered momentum
and there was an impressive performance in a five point
government program for rural uplift, education and poverty
alleviation, said the survey.
    Ministry Economic Adviser Qazi Alimullah told a news
conference that before recent unseasonal rains and hailstorms
damaged the wheat crop, GDP growth was calculated at 7.04 pct
compared to 7.25 pct in 1985/86.He said the figure might now
slide down a little to around 6.8 or 6.9 pct.
    The survey said monetary expansion was estimated to be nine
pct to date but might rise to around 12 pct by the year-end.
    Alimullah said exports rose 18 pct to 3.5 billion dlrs from
2.9 billion dlrs in 1985/86. But the at the same time, home
remittances by Pakistanis abroad dropped to 2.3 billion dlrs
from the 1985/86 level of 2.595 billion.
    More exports and an improvement in the balance of payments
situation will be required to overcome this declining trend in
home remittances, he said.
    The survey said the trade deficit was expected to fall to
2.4 billion dlrs from three billion dlrs in 1985/86 because of
the boost in exports.
    He said national investment continued to be small because
of a poor rate of savings, about 14 pct of GDP. He said more
savings were required to maintain or possibly step up the
present growth rate and to finance the country's seventh
five-year development plan to be launched in July 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7455" NEWID="18010">
<DATE> 2-JUN-1987 10:18:10.62</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1077&#31;reute
f f BC-******GREENSPAN-SAYS   06-02 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GREENSPAN SAYS THERE IS EVIDENCE DOLLAR HAS BOTTOMED OUT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7456" NEWID="18011">
<DATE> 2-JUN-1987 10:20:19.41</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1084&#31;reute
f f BC-BANK-OF-FRANCE-LEAVES   06-02 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED AT 7-3/4 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7457" NEWID="18012">
<DATE> 2-JUN-1987 10:21:40.24</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1090&#31;reute
u f BC-/GREENSPAN-SEES-EVIDE   06-02 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>GREENSPAN SEES EVIDENCE DOLLAR FALL OVER</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Newly-nominated Federal Reserve Board
chairman Alan Greenspan said there was evidence the dollar
finally had bottomed out.
    In a White House briefing Greenspan was asked by reporters
if he thought the dollar had bottomed out.
    "There certainly is evidence in that direction," he replied.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7458" NEWID="18013">
<DATE> 2-JUN-1987 10:22:29.78</DATE>
<TOPICS><D>gold</D><D>silver</D><D>platinum</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1091&#31;reute
f f BC-******U.S.-GOLD,-SILV   06-02 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. GOLD, SILVER, PLATINUM SOAR ON VOLCKER REJECTION OF 3RD TERM
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7459" NEWID="18014">
<DATE> 2-JUN-1987 10:25:00.56</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;f1106&#31;reute
b f BC-ICCO-BUYS-5,000-TONNE   06-02 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>ICCO BUYS 5,000 TONNES COCOA FOR BUFFER STOCK</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The International Cocoa Organization
(ICCO) buffer stock manager bought 5,000 tonnes of cocoa today
for the buffer stock, traders said.
    The cocoa is believed to have been entirely made up of
second hand material, they added.
    Such a purchase would bring cumulative buffer stock
purchases to 26,000 tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7460" NEWID="18015">
<DATE> 2-JUN-1987 10:27:58.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1123&#31;reute
u f BC-YANKEE-COS-&lt;YNK>-SEEK   06-02 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>YANKEE COS &lt;YNK> SEEKS DEBT RESTRUCTURING</TITLE>
<DATELINE>    COHASSET, Mass., June 2 - </DATELINE><BODY>Yankee Cos Inc said it will be 
working with the holders of substantially all of its 12-5/8 pct
senior secured notres due 1996 to develop and overall debt and
asset restructuring program, and as a first step, the
noteholder has agreed to the deferral of the June One interest
payment on the notes until June 30.
    Yankee said interest was paid to other noteholders
yesterday.
    The company said it plans to meet and work with all
interest parties, including the holders of its three debt
issues and federal banking authorities, over the next several
weeks to formulate and implement a restructuring plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7461" NEWID="18016">
<DATE> 2-JUN-1987 10:29:27.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1132&#31;reute
u f BC-Q-MED-&lt;QEKG.O>-SEES-S   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>Q-MED &lt;QEKG.O> SEES SHARPLY HIGHER REVENUES</TITLE>
<DATELINE>    CLARK, N.J., June 2 - </DATELINE><BODY>Q-Med Inc said preliminary results
show its second quarter, ended May 31, revenues exceeded 4.2
mln dlrs. A year earlier revenues were nearly 1.4 mln dlrs.
    The company also said it had appointed Coopers and Lybrand
as its auditors. Chairman Michael Cox declined any comment on
this appointment.
    The company said its preliminary second quarter revenues
are consistent with management's expectations and represent a
greater than 40 pct increase in sales over those reported for
the first quarter. Earnings should show a similar growth
pattern, the company added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7462" NEWID="18017">
<DATE> 2-JUN-1987 10:29:31.47</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1133&#31;reute
u f BC-ACME-PRECISION-&lt;ACL>   06-02 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>ACME PRECISION &lt;ACL> BUYOUT BID DROPPED</TITLE>
<DATELINE>    DETROIT, June 2 - </DATELINE><BODY>Acme Precision Products Inc said a
management group has withdrawn a six dlr per share leveraged
buyout offer.
    Acme said the management group dropped its bid due to
continued weakness in the machine tool industry and in Acme
Precision's operating results and to the inability of the
management group to obtain modifications to terms of its
financing commitment.
    It said, "The effect of these factors led the management
group to conclude that the six dlr per share price was
excessive under current conditions."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7463" NEWID="18018">
<DATE> 2-JUN-1987 10:29:53.30</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;f1136&#31;reute
r f BC-DOMINION-&lt;D>-UNIT-SEL   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>DOMINION &lt;D> UNIT SELLS 30-YEAR BONDS</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Virginia Electric and Power Co, a unit
of Dominion Resources Inc, is raising 100 mln dlrs via an
offering of first and refunding mortgage bonds due 2017
yielding 9.89 pct, said sole manager E.F. Hutton and Co Inc.
    Hutton led a group that won the bonds in competitive
bidding. It bid them at 99.376, representing a net interest
charge to the company of 9.94 pct.
    The underwriter set a 9-7/8 pct coupon and reoffering price
of 99.85 to yield 123 basis points more than comparable
Treasury securities. Non-refundable for five years, the bonds
are rated A-1 by Moody's and A-plus by Standard and Poor's.
    The gross spread is four dlrs and the reallowance is 2.50
dlrs, bookrunner Hutton said of the Virginia Electric deal.
    Virginia Electric last visited the domestic debt market in
October 1986 when it sold 100 mln dlrs of same-rated,
same-maturity 9-1/4 pct bonds. That issue was priced to yield
9.27 pct, or 141 basis points over Treasuries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7464" NEWID="18019">
<DATE> 2-JUN-1987 10:30:02.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1137&#31;reute
r f BC-GENERAL-SIGNAL-&lt;GSX>   06-02 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL SIGNAL &lt;GSX> LOW BIDDER ON RADIO JOB</TITLE>
<DATELINE>    STAMFORD, Conn., June 2 - </DATELINE><BODY>General Signal Corp said its
General Railway Signal Co unit is the apparent low bidder at
32.5 mln dlrs on a transit radio system contract for the
Southern California Rapid Transit District in Los Angeles.
    The company also said its General Farebox Inc subsidiary
received a 3.1 mln dlr farebox system contract from the Greater
Cleveland Regional Transit Authority.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7465" NEWID="18020">
<DATE> 2-JUN-1987 10:30:24.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1141&#31;reute
r f BC-WILLIAMS-&lt;WMB>-REINCO   06-02 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>WILLIAMS &lt;WMB> REINCORPORATES IN DELAWARE</TITLE>
<DATELINE>    TULSA, June 2- </DATELINE><BODY>Williams Cos said it has been reincorporated
in Delaware as Williams Cos Inc following approval by
shareholders at the annual meeting last month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7466" NEWID="18021">
<DATE> 2-JUN-1987 10:30:58.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1142&#31;reute
r f BC-NOBLE-AFFILIATES-&lt;NBL   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>NOBLE AFFILIATES &lt;NBL> SELLS CONVERTIBLE DEBT</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Noble Affiliates Inc is raising 100 mln
dlrs via an offering of convertible subordinated debentures due
2012 with a 7-1/4 pct coupon and par pricing, said lead
underwriter Morgan Stanley and Co Inc.
    The debentures can be converted into the company's common
stock at 19.625 dlrs per share, representing a premium of 25.6
pct over the stock price when terms on the debt were set.
    Non-callable for three years, the issue is rated Baa-3 by
Moody's and BBB-plus by Standard and Poor's. Noble Affiliates
is also offering 125 mln dlrs of 10-1/8 pct notes due 1997
through a group led by Morgan Stanley.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7467" NEWID="18022">
<DATE> 2-JUN-1987 10:31:26.20</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;f1146&#31;reute
r f BC-MERIDIAN-INSURANCE-&lt;M   06-02 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>MERIDIAN INSURANCE &lt;MIGI.O> IN NASDAQ EXPANSION</TITLE>
<DATELINE>    INDIANAPOLIS, June 2 - </DATELINE><BODY>Meridian Insurance Group Inc said
its common stock has been included in the NASDAQ National
Market System, effective today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7468" NEWID="18023">
<DATE> 2-JUN-1987 10:33:30.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1161&#31;reute
b f BC-CANON-SALES-ISSUES-10   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CANON SALES ISSUES 100 MLN DLR WARRANT BOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Canon Sales Co Inc is issuing a 100 mln
dlr equity warrant bond due June 30, 1992 with an indicated
coupon of 1-5/8 pct and par pricing, lead manager Yamaichi
International (Europe) Ltd said.
    The issue is guaranteed by Fuji Bank Ltd and final terms
will be set on June 9. The selling concession is 1-1/2 pct
while management and underwriting combined pays 3/4 pct. The
deal is available in denominations of 5,000 dlrs and will be
listed in Luxembourg.
    The warrants are exercisable from July 15, until June 23,
1992. The payment date is June 30.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7469" NEWID="18024">
<DATE> 2-JUN-1987 10:35:06.58</DATE>
<TOPICS><D>grain</D><D>barley</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f1173&#31;reute
d f BC-ITALIAN-BARLEY-CROP-R   06-02 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN BARLEY CROP REPORTED IN GOOD CONDITION</TITLE>
<DATELINE>    ROME, June 2 - </DATELINE><BODY>Italy's barley crop is generally in good
condition and harvesting is expected to begin shortly, the
agricultural marketing information and research board Irvam
said.
    First consignments were expected to be available around
mid-June.
    Excellent weather, characterised by alternating periods of
sunshine and rain, has encouraged growth except in Sardinia,
which was expected to lose a large part of its barley crop
because of extreme dryness.
    Irvam said yields are expected higher than last year's low
levels if favourable weather continues in the next few weeks.
    Given an average yield of 3.5 tonnes per hectare, national
production would be around two pct higher than in the previous
season at just above 1.6 mln tonnes, it said.
    If yields reach the record 3.78 tonnes per hectare achieved
in 1984, production would be around 1.75 mln tonnes, an
increase of 11 pct compared to 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7470" NEWID="18025">
<DATE> 2-JUN-1987 10:35:41.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1176&#31;reute
b f BC-ASIAN-DEVELOPMENT-BAN   06-02 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>ASIAN DEVELOPMENT BANK ISSUES 50 MLN STG EUROBOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The Asian Development Bank is issuing a 50
mln stg eurobond due July 1, 1997 paying 9-1/2 pct and priced
at 101-7/8 pct, lead manager County Natwest Capital Markets Ltd
said.
    The non-callable bond is available in denominations of
1,000 and 10,000 stg and will be listed in Luxembourg.
    The selling concession is 1-3/8 pct while management and
underwriting combined pays 5/8 pct.
    Payment date is July 1.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7471" NEWID="18026">
<DATE> 2-JUN-1987 10:38:09.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1191&#31;reute
r f BC-DATA-GENERAL-&lt;DGN>-OF   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA GENERAL &lt;DGN> OFFERS NEW NETWORK PRODUCTS</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Data General Corp said it introduced
several new hardware and software products that link
International Business Machines Corp &lt;IBM> and IBM-compatible
personal computers into mainframe and minicomputer systems.
    Data General said the products include three local area
networks that conform to industry standards. It said it is now
offering a Starlan network, which was originally introduced by
American telephone and Telegraph Co &lt;t>, a thin Ethernet and a
PC interface for the standard Ethernet.
   
    In addition, Data General said it will offer several
software packages for PC networks, including MS Net, a product
developed by Microsoft Corp &lt;MSFT.O> that allows PCs to share
printers, data files and other peripherals.
    The company said it also introduced a PC version of its
popular CEO office automation software.
    Data General said the new products allow computer users to
divide work among a collection of PCs and larger computers.
   
    "Data General is the first vendor to offer three different
local area networks for personal computer integration," said
Colin Crook, senior vice president of the company's
communications systems group.
    "We're really giving users freedom of choice with industry
standard products," added J. David Lyons, vice president of
group marketing.
    In addition to the new products, which were expected, Data
General announced a joint product development agreement with
&lt;Gold Hill Computers>, a Cambridge, Mass.,-based artificial
intelligence software company.
   
    The company also announced the formation of a new network
services group that will help customers plan and design
computer networks.
    The group will also provide service and maintenance for
Data General and other vendors' equipment, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7472" NEWID="18027">
<DATE> 2-JUN-1987 10:38:33.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1194&#31;reute
r f BC-PERPETUAL-SAVINGS-&lt;PA   06-02 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>PERPETUAL SAVINGS &lt;PASB.O> SETS HOLDING COMPANY</TITLE>
<DATELINE>    ALEXANDRIA, Va., June 2 - </DATELINE><BODY>Perpetual Savings Bank said its
board has approved formation of a holding company to be
incorporated in Virginia, subject to Federal Home Loan Bank
Board and shareholder approval.
    It said its common and prefered shares would be exchanged
on a one-for-one basis for shares of the holding company,
Perpetual Financial corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7473" NEWID="18028">
<DATE> 2-JUN-1987 10:39:23.41</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;f1200&#31;reute
u f BC-PEP-BOYS---MANNY,-MOE   06-02 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>PEP BOYS - MANNY, MOE AND JACK INC &lt;PBY> 1ST QTR</TITLE>
<DATELINE>    PHILADELPHIA, June 2 - </DATELINE><BODY>May Two net
    Shr 11 cts vs eight cts
    Net 5,895,000 vs 3,896,000
    Sales 127.3 mln vs 110.5 mln
    NOTE: Share adjusted for three-for-one stock split payable
July 27 to holders of record July One.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7474" NEWID="18029">
<DATE> 2-JUN-1987 10:40:26.29</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;f1202&#31;reute
r f BC-elders-says-bid-made   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ELDERS HAPPY TO LEAVE CARLING SHARES OUTSTANDING</TITLE>
<DATELINE>    TORONTO, June 2 - </DATELINE><BODY>Elders IXL Ltd &lt;ELXA.S> says it is happy
to leave preferences shares of brewer Carling O'Keefe Ltd
outstanding after an undisclosed bidder made an offer to
acquire all of Carling's outstanding preferred stock.
    Elders, which owns 100 pct of Carling's outstanding common
shares, previously proposed to redeem the 433,745 Carling
series A preferred shares at 33.50 Canadian dlrs each and
redeem the 386,662 series B preferreds at 40 dlrs a share.
    The series A and B preferred shares carry no vote while
dividends are paid.
   
    Elders says neither it nor Carling knows the identity of
the bidder for Carling's preferred shares.
    On May 29, the bidder offered to acquire the Carling
preferred for 36 dlrs for each series A and 40.50 dlrs for each
series B share.
    Elders said leaving the Carling preferred shares
outstanding will not affect ongoing plans of the company.
    Series B preferred shareholders had previously rejected
Carling's proposal to redeem the shares and a series A
preferred shareholders meeting was adjourned to June 12.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7475" NEWID="18030">
<DATE> 2-JUN-1987 10:40:39.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1203&#31;reute
r f BC-EC-FARM-MINISTERS-DIS   06-02 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>EC FARM MINISTERS DISAGREE ON DIRECT INCOME AIDS</TITLE>
<DATELINE>    GENVAL, Belgium, June 2 - </DATELINE><BODY>Plans to provide direct income
aids for European Community (EC) small farmers to help them
face deep cuts in guaranteed crop prices received a mixed
reception from EC agriculture ministers, EC officials said.
    The plans were discussed at an informal meeting of the
ministers hosted in the village of Genval by the Council of
Ministers' current chairman, Belgium's Paul de Keersmaeker.
    The EC Executive Commission has proposed that the richer
member states be allowed to make direct payments to their
farmers in special difficulties, while the EC itself would
finance a similar scheme in the poorer EC countries.
    However, EC officials said only the Netherlands and
Luxembourg supported this idea at today's meeting, and France,
Denmark and Belgium showed marked hostility to it.
    French minister Francois Guillaume told reporters, "Farmers
should not become recipients of public assistance -- their
survival should be assured by price mechanisms and the market."
    The officials said the ministers had not sought to resolve
their more urgent differences over guaranteed farm prices for
1987/88 at this meeting.
    The ministers will resume talks on the price fixing issue
in Luxembourg on June 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7476" NEWID="18031">
<DATE> 2-JUN-1987 10:44:13.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1226&#31;reute
d f BC-ONE-OF-TWO-SARA-LEE-&lt;   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>ONE OF TWO SARA LEE &lt;SLE> STRIKES SETTLED</TITLE>
<DATELINE>    DEERFIELD, ILL., June 2 - </DATELINE><BODY>Sara Lee Corp said 500 workers at
its Kitchens of Sara Lee bakery operation in Deerfield, Ill.,
have returned to work this week after ratifying a contract.
    A company spokesman said members of Local Two of the
Bakery, Confectionery and Tobacco Workers, who had walked out
May 10, reached "mutually agreeable terms" in a new two-year
contract.
    Meanwhile, about 100 Teamster drivers and warehouse
employees, whose contract expired May 16, remained out, the
company said. No new talks were scheduled, Sara Lee said.
    Details of the new contract were not immediately available,
but a company spokesman said it "maintained benefits and called
for no sacrifices from current employees."
    Union sources reported that the contract freezes wages and
introduces a sharply lower starting rate for new hires. They
said it also gives Sara Lee concessions on a workplace issue
involving excused absences.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7477" NEWID="18032">
<DATE> 2-JUN-1987 10:44:26.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1228&#31;reute
d f BC-CRAY-&lt;CYR>-GETS-3.6-M   06-02 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>CRAY &lt;CYR> GETS 3.6 MLN DLR COMPUTER ORDER</TITLE>
<DATELINE>    MINNEAPOLIS, June 2 - </DATELINE><BODY>Cray Research Inc said Aerospatiale,
a French aerospace company, ordered a Cray X-MP/14se computer
system valued at about 3.6 mln dlrs.
    It said the leased system will be installed in the fourth
quarter, pending export license approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7478" NEWID="18033">
<DATE> 2-JUN-1987 10:48:49.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1246&#31;reute
u f BC-PORTUGAL-CONTRACTS-FO   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGAL CONTRACTS FOR 150 MLN ECU LOAN</TITLE>
<DATELINE>    LISBON, June 2 - </DATELINE><BODY>Portugal has contracted a six-year, 150
mln ECU loan from a group of foreign banks led by Daiwa Europe
Ltd to finance investment projects, the finance ministry said.
    Interest of 7.75 pct is to be paid in annual instalments
starting in 1988, ministry spokesman Luis Vilhena de Cunha
said.
    The loan will first be in the form of a temporary global
note and be replaced later by subscriptions of 1,000 and 10,000
ECUs. The issue price was set at 101.75 pct.
    Banque Generale du Luxembourg SA will act as listing agent
and fiscal agent, the spokesman added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7479" NEWID="18034">
<DATE> 2-JUN-1987 10:50:08.18</DATE>
<TOPICS><D>carcass</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f1251&#31;reute
b f BC-CHICKEN-NOT-MAIN-SALM   06-02 0140</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICKEN NOT MAIN SALMONELLA CAUSE, OFFICIAL SAYS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>A representative of the poultry
industry said statistics showed that chicken is less frequently
the cause of salmonella poisoning than beef, dairy products or
salads and other mixed foods.
    Kenneth May, President of Holly Farms Poultry Industries
and a director of the National Broiler Council, told a House
Agriculture subcommittee the incidence of salmonella in chicken
has not increased in recent years and that chicken is neither
the major source of the bacterial poisoning nor the cause of an
increase in outbreaks of the disease.
    May said the Center for Disease Control figures showed that
between 1978 and 1982, chicken was involved in four pct of all
U.S. salmonellosis outbreaks, while beef accounted for ten pct
of outbreaks and dairy products six pct.
    May said the remaining outbreaks were caused by salads and
mixed food, turkey, seafood, pork, eggs and other foods.
    May said the chicken industry favored moving away from
bird-by-bird inspection procedures to a risk assessment system
better able to identify microbial and bacterial contamination
of poultry.
    However, Ellen Haas, executive director of Public Voice for
Food and Health Policy, said bird-by-bird inspection should be
retained and labels should be attached to each ready-to-cook
chicken to remind consumers about preparation procedures
necessary to avoid illness.
    Haas also called for a review of present chicken industry
inspection methods that she said can worsen poultry hazards.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7480" NEWID="18035">
<DATE> 2-JUN-1987 10:51:10.96</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;f1254&#31;reute
u f BC-/U.S.-HOUSE-PANEL-VOT   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PANEL VOTES TO SPEED UP CORN PAYMENTS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The House Agriculture Committee voted
to make approximately 2.8 billion dlrs of feedgrains deficiency
payments immediately instead of in the late fall.
    A similar measure was decisively defeated on the Senate
floor last week.
    The bill, which passed by a voice vote, would allow
so-called Findley payments to be made immediately rather than
late this year. Payments for 1987-90 feedgrains crops would not
be changed.
    Because the bill would move 2.8 billion dlrs of spending
into fiscal 1987 from fiscal 1988, the measure is expected to
meet stiff resistance in the full House.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7481" NEWID="18036">
<DATE> 2-JUN-1987 10:51:16.67</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1255&#31;reute
u f BC-JONES-AND-VINING-&lt;JNS   06-02 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>JONES AND VINING &lt;JNSV.O> STARTS BID FOR SHARES</TITLE>
<DATELINE>    BRAINTREE, Mass., June 2 - </DATELINE><BODY>Jones and Vining Inc said it has
started a tender offer for all of its own shares at five dlrs
per share. 
    The company said it will hold a special meeting on July 10
for a vote on approval of a merger at the tender price.
    It said the price to be paid in the tender and merger could
be reduced by any fees and expenses the court may award to
counsel for the plaintiffs in the class action suit brought
against it in Delaware Chancery Court by Ronda Inc. The
plaintfiffs' counsel are seeking fees of up to 10 cts per
share, Jones and Vining said.
    The company said the court has scheduled a hearing on the
proposed settlement of the suit for July Eight.
    The company said the start of the tender offer and the
calling of the special meeting are conditions of the
settlement, and completion of the tender and merger are
conditioned on final approval of the settlement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7482" NEWID="18037">
<DATE> 2-JUN-1987 10:51:48.40</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;f1258&#31;reute
d f BC-HEALTHSOUTH-&lt;HSRC.O>   06-02 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTHSOUTH &lt;HSRC.O> MAKES ACQUISITION</TITLE>
<DATELINE>    BIRMINGHAM, Ala., June 2 - </DATELINE><BODY>HEALTHSOUTH Rehabilitation Corp
said it has acquired Pine Island Sports Medicine Center in Fort
Lauderdale, Fla., and will incorporate the facility into its
HEALTHSOUTH Rehabilitation Center of Fort Lauderdale, which is
now under construction and should be in operation by
mid-summer.
    Terms were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7483" NEWID="18038">
<DATE> 2-JUN-1987 10:51:55.69</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;f1259&#31;reute
d f BC-BANC-ONE-&lt;ONE>-MAKES   06-02 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>BANC ONE &lt;ONE> MAKES INDIANA ACQUISITION</TITLE>
<DATELINE>    COLUMBUS, Ohio, June 2 - </DATELINE><BODY>Banc One Corp said it has
completed the acquisition of First National Bank of
Bloomington, Ind, which has assets of 271 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7484" NEWID="18039">
<DATE> 2-JUN-1987 10:53:42.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1265&#31;reute
r f BC-PENTLAND-INDUSTRIES-P   06-02 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>PENTLAND INDUSTRIES PLC HOLDERS APPROVE SPLIT</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Pentland Industries PLC said
shareholders at the annual meeting approved an increase in
authorized share capital to 36 mln stg to 12 mln stg by
creation of another 240 mln ordinary shares, allowing for a
three-for-one stock split.
    It said dealings in the new shares are expected to start on
June 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7485" NEWID="18040">
<DATE> 2-JUN-1987 10:54:40.06</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1270&#31;reute
d f BC-ORION-BROADCAST-&lt;OBGI   06-02 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>ORION BROADCAST &lt;OBGI.O> BUYS FORD &lt;F> UNIT</TITLE>
<DATELINE>    DENVER, June 2 - </DATELINE><BODY>Orion Broadcast Group Inc said its
majority-owned Orion Financial Services Corp subsidiary has
agreed to purchase FN Realty Services Inc from Ford Motor Co
for 1,200,000 to 1,500,000 dlrs in cash and notes.
    It said closing is expected within 45 days after receipt of
regulatory approvals.
    FN provides loan collection, accounting, data processing
and administrative services to the real estate industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7486" NEWID="18041">
<DATE> 2-JUN-1987 10:54:52.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1271&#31;reute
r f BC-EC-BUDGET-MINISTERS-S   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>EC BUDGET MINISTERS SET TO REFUSE PLEA FOR CASH</TITLE>
<DATELINE>    LUXEMBOURG, June 2 - </DATELINE><BODY>A plea for extra cash to bail the
European Community (EC) out of its latest financial crisis was
likely to be rejected at a meeting today of EC budget
ministers, diplomats said.
    The ministers were meeting for the first time since the EC
Executive Commission unveiled an emergency budget for 1987
aimed at plugging a deficit caused by soaring farm spending and
falling revenues.
    The emergency package includes a demand for member states
to pay an extra 1.5 billion European currency units (Ecus) to
help meet the deficit.
    Officials said Britain and West Germany were expected to
lead opposition to contributing any extra cash, with the U.K
insisting instead on a clampdown on runaway farm spending.
    The Commission says there will be a shortfall of at least
five billion Ecus this year, more than 1/8 of total spending.
    It hopes to make up much of the shortfall in a one-time
accounting exercise by paying member states in arrears rather
than in advance for their spending on Community farm policies.
    But if member states do not make up the rest of the gap,
the Commission has warned that spending on regional and social
projects could be slashed by half.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7487" NEWID="18042">
<DATE> 2-JUN-1987 10:55:50.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1273&#31;reute
h f BC-ORBIT-&lt;ORBT.O>-UNIT-I   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>ORBIT &lt;ORBT.O> UNIT INCREASES BACKLOG</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., June 2 - </DATELINE><BODY>Orbit Instrument Corp said its
unit, Orbit Semiconductor Inc, has received orders totalling
about 2.5 mln dlrs which puts its backlog at a record level of
about 4.7 mln dlrs.
    Additionally, the company said it will now offer two Micron
CMOS processes that can withstand Megarad total dose radiation.
    Applications for the processes include products
manufactured for military, medical and power industry market,
the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7488" NEWID="18043">
<DATE> 2-JUN-1987 10:57:14.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1281&#31;reute
u f BC-SOUTH-AFRICA-NAMES-1,   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA SAYS 1,500 STILL DETAINEES</TITLE>
<DATELINE>    CAPE TOWN, June 2 - </DATELINE><BODY>South Africa said the number of people
it was detaining without trial has dropped to 1,500, far fewer
than previous official figures during the past year of
emergency rule.
    A government spokesman said the latest set of names,
presented to parliament, included all current detainees who had
been held for over a month. Previous lists have named up to
8,500 people.
    The official figure was supported by civil rights groups
who said many detainees had been freed in recent weeks,
possibly to empty cells for a new government crackdown.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7489" NEWID="18044">
<DATE> 2-JUN-1987 11:02:51.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1297&#31;reute
d f BC-JAPANESE-FARMERS-MARC   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE FARMERS PROTEST OPENING MARKETS</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Thousands of farmers gathered in central
Tokyo to urge the government to stand firm against foreign
pressure for further opening up of Japan's markets to foreign
agricultural products, union officials said.
    Officials of the Central Union of Agricultural Cooperatives
said about 5,000 representatives from 4,200 farming groups
joined the demonstration.
    The organisers said the farmers demanded that the
government should avoid easy compromises on liberalising
agricultural imports at next week's economic summit in Venice.
    The United States and the European Community want Japan to
remove tariffs and quotas to help cut their trade deficits with
Japan.
    Under a banner reading "The government and parliament must
not sacrifice farmers," the demonstrators adopted a declaration
saying they would fight any unreasonable moves to open Japanese
markets to foreign agricultural products.
    An agriculture ministry official said Japan and the United
States were expected to hold talks on Japanese import ceilings
for U.S. Beef and citrus fruit in September.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7490" NEWID="18045">
<DATE> 2-JUN-1987 11:04:44.51</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C G L M T F
&#22;&#22;&#1;f1303&#31;reute
b f BC-LONDON-GOLD-1500-FIX   06-02 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LONDON GOLD 1500 FIX - JUNE 2 - 455.00 DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7491" NEWID="18046">
<DATE> 2-JUN-1987 11:07:06.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE><D>de-clercq</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1316&#31;reute
d f BC-FRESH-DEBATE-ON-NORWA   06-02 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>FRESH DEBATE ON NORWAY'S EC MEMBERSHIP WELCOMED</TITLE>
<DATELINE>     OSLO, June 2 - </DATELINE><BODY>European Community officials welcomed
Norway's recent move to renew a public debate on Community
membership but said Norway should not expect special trade
advantages as long as it stays outside the EC.
    Belgian Willy de Clercq, EC Commissioner on external
affairs and trade policy, said high level talks this week with
Norway's minority Labour government had helped clarify several
misconceptions that led to Norway's narrow rejection of EC
membership in a 1972 referendum.
    "But you (Norway) cannot be in the club and remain outside
the club. You can expect equal footing in the club, but not out
of it," de Clercq added, referring to Norway's attempts to adapt
its EC trade ties in the face of Community moves to launch an
internal trade market from 1992.
    The government, worried that the internal market will
hamper trade with the EC, which takes about two-thirds of
Norway's exports, last month sent a report to parliament asking
political parties and the public to reassess the country's
relationship to the EC.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7492" NEWID="18047">
<DATE> 2-JUN-1987 11:08:09.27</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1321&#31;reute
f f BC-******GULF-AND-WESTER   06-02 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GULF AND WESTERN INC 2ND QTR SHR 86 CTS VS 73 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7493" NEWID="18048">
<DATE> 2-JUN-1987 11:08:48.90</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;f1325&#31;reute
u f BC-PHH-GROUP-INC-&lt;PHH>-4   06-02 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>PHH GROUP INC &lt;PHH> 4TH QTR APRIL 30 NET</TITLE>
<DATELINE>    HUNT VALLEY, Md., June 2 -
    </DATELINE><BODY>Shr 71 cts vs 47 cts
    Net 12.1 mln vs 7.8 mln
    Revs 369.8 mln vs 307.9 mln
    12 mths
    Shr 2.35 dlrs vs 2.33 dlrs
    Net 39.5 mln vs 39 mln
    Revs 1.36 billion vs 1.24 billion
    NOTE: Prior year restated to reflect results from current
year acquisitions.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7494" NEWID="18049">
<DATE> 2-JUN-1987 11:10:13.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1330&#31;reute
u f AM-VOLCKER-TEXT   06-02 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER IN LETTER DECLINES NEW FED TERM</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Following is the full text of Federal
Reserve Board Chairman Paul Volcker's letter to President
Reagan declining reappointment to the Fed:
    Dear Mr. President,
    As the end of my term as chairman of the Federal Reserve
Board approaches, you naturally have to consider an appropriate
new appointment.
   
    In that connection, you will recall that, upon my
reappointment as chairman in 1983, I felt unable to make a firm
commitment to you or to the Congress to remain in office for a
second full four-year term. Despite my reservations at the
time, that term is in fact now almost finished. However, I do
think, after eight years as chairman, a natural time has now
come for me to return to private life as soon as reasonably
convenient and consistent with an orderly transition.
Consequently, I do not desire reappointment as chairman and I
plan to resign as governor when a new chairman is prepared to
assume office.
   
    I will be leaving with a sense of great appreciation for
your unfailing courtesy to me personally. More broadly, your
consistent support of the work of the Federal Reserve during a
particularly challenging period for it, for the financial
system, and for the economy has been critical to whatever
success we have had.
   
    Without doubt, strong challenges remain for all of those
involved in economic policy. In that effort, I believe the
nation will continue to be well served by a strong Federal
Reserve System -- a system firmly dedicated to fostering
economic and financial strength and stability and able to bring
to that effort a combination of sound and independent
professional judgement and continuity beyond any partisan
considerations.
   
    May I add, too, my personal best wishes for the remainder
of your own term in office during which you have done so much
to restore a sense of confidence and self-reliance among the
American people.
    Faithfully yours,
    Paul A Volcker
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7495" NEWID="18050">
<DATE> 2-JUN-1987 11:18:53.04</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;f1373&#31;reute
u f BC-LAWSON-CALLS-INTERVEN   06-02 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>LAWSON CALLS INTERVENTION PROOF OF STABILITY GOAL</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The scale of foreign exchange intervention
the Bank of England has carried out recently is clear proof of
Britain's determination to stabilise exchange rates as agreed
between the Group of Seven industrialised countries in Paris in
February, Chancellor of the Exchequer Nigel Lawson said.
    Saying he was "content" with sterling's current value, Lawson
told reporters he wanted "to maintain the exchange rate
stability we have all signed up for." He declined to say if he
favoured a rise or a fall from present sterling levels.
 May currency reserves, out today, showed a record 4.8 billion
stg rise, pointing to massive currency intervention.
    In April, reserves rose a hefty 2.9 billion stg.
    Pointing to the reserves data, Lawson said, "We have been
playing a very full part ourselves" in meeting our commitments
toward exchange rate stability as agreed in Paris.
    "We wish to see it (stability) continuing," he added.
    Asked which techniques were available to preserve
stability, Lawson said both central bank intervention and
interest rate changes could be used to tackle "the market
pressures there are from time to time."
    "Interest rate stability is not an objective in that
sense...Rates have to be moved up and down at times," he added.
    Lawson said he expected intervention to be "sterilised" by
draining excess sterling liquidity from the market through new
issues of government securities and foreign currency sales,
when the market allowed.
    This would limit the inflationary impact of intervention,
he said.
    "Sterilisation will be dictated by market tactics...Not
necessarily in the month in which intervention occurs," Lawson
said. "I am confident that we can sterilise on this scale."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7496" NEWID="18051">
<DATE> 2-JUN-1987 11:19:19.10</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;f1376&#31;reute
b f BC-/-FED-NOT-EXPECTED-TO   06-02 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>FED NOT EXPECTED TO TAKE MONEY MARKET ACTION</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>The Federal Reserve is not expected to
intervene in the government securities market to add or drain
reserves at its usual intervention time this morning,
economists said.
    With the Federal funds rate trading comfortably at  6-9/16
pct, down from yesterday's 6.74 pct average, economists said
the Fed did not need to take reserve management action today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7497" NEWID="18052">
<DATE> 2-JUN-1987 11:19:50.44</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;f1379&#31;reute
b f BC-******GULF-AND-WESTER   06-02 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF AND WESTERN INC &lt;GW> 2ND QTR APRIL 30 NET</TITLE>
<DATELINE>    NEW YORK, June 2 -
    </DATELINE><BODY>Shr 86 cts vs 73 cts
    Net 52.7 mln vs 45.7 mln
    Revs 989.9 mln vs 863.9 mln
    Six mths
    Shr 1.97 dlrs vs 1.28 dlrs
    Net 122 mln vs 79.9 mln
    Revs 2.078 billion vs 1.726 billion
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7498" NEWID="18053">
<DATE> 2-JUN-1987 11:20:12.43</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1382&#31;reute
b f BC-******ALLEGIS-SAID-IT   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ALLEGIS SAID IT IS CREATING A LIMITED PARTNERSHIP TO SELL SOME CANADIAN HOTELS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7499" NEWID="18054">
<DATE> 2-JUN-1987 11:22:06.08</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1395&#31;reute
b f BC-******BROWN-GROUP-INC   06-02 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BROWN GROUP INC 1ST QTR SHR 56 CTS VS 42 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7500" NEWID="18055">
<DATE> 2-JUN-1987 11:22:55.99</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1402&#31;reute
b f BC-******ALLEGIS-SAID-IT   06-02 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ALLEGIS SAID IT SEES PROCEEDS OF 350 MLN CANADIAN DLRS WHEN HOTELS ARE SOLD
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7501" NEWID="18056">
<DATE> 2-JUN-1987 11:23:12.29</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f1404&#31;reute
f f BC-ICCO-BUFFER-STOCK-MAN   06-02 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ICCO BUFFER STOCK MANAGER BUYS 5,000 TONNES - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7502" NEWID="18057">
<DATE> 2-JUN-1987 11:24:34.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1415&#31;reute
u f BC-CSFB-ECONOMIST-SAYS-V   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CSFB ECONOMIST SAYS VOCLKER'S RESIGNATION A SHOCK</TITLE>
<DATELINE>    ZURICH, June 2 - </DATELINE><BODY>The decision by Paul Volcker not to serve
a third term as chairman of the U.S. Federal Reserve Board is a
shock for financial markets and the world economy, Hans Mast,
senior economic adviser to Credit Suisse First Boston, said.
    "The markets will believe there will be pressure for a more
expansive policy (in the United States)," he said.
    "I would say this is quite a shock for the world economy," he
added. "He always stood for an anti-inflationary policy and
tight fiscal discipline. He was one of the best central bankers
America has had."
    Mast said the markets would now be trying to assess what
sort of direction the Fed would be taking under Alan Greenspan,
designated to succeed Volcker.
    "Greenspan is more of a politician than an academician, but
the most important thing is that he has little experience in
banking," Mast said.
    Greenspan's first comments on being named were that the
dollar appeared to have bottomed out but Mast said that
conviction would have to be backed by policy. "How can you say
the dollar has bottomed out with the present level of current
account deficits?" he said. "I would be sceptical."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7503" NEWID="18058">
<DATE> 2-JUN-1987 11:24:48.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1417&#31;reute
u f BC-SHEARSON-ECONOMIST-SA   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SHEARSON ECONOMIST SAYS VOLCKER EFFECT SHORT-TERM</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Alan Sinai, chief economist of Shearson
Lehman Brothers Inc, said news that Federal Reserve Chairman
Paul Volcker declined to accept reappointment would have only a
short-term effect on financial markets.
    "The markets should not go into a panic," Sinai told a
fixed-income conference in New York sponsored by the Institute
for International Research.
    Sinai said he thought that Volcker was one of the best Fed
governors in the country's history. Still, he predicted that
the markets would calm after today's tremors.
    Alan Greenspan has been nominated to replace Volcker.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7504" NEWID="18059">
<DATE> 2-JUN-1987 11:25:21.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1421&#31;reute
r f BC-PERRY-DRUG-STORES-&lt;PD   06-02 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>PERRY DRUG STORES &lt;PDS> NAMES NEW PRESIDENT</TITLE>
<DATELINE>    PONTIAC, Mich., June 2 - </DATELINE><BODY>Perry Drug Stores Inc said it has
elected David Schwartz as president and chief executive
officer, effective immediately.
    Perry said Schwartz, who will also serve on the board,
replaced Donald Fox, who resigned January 12.
    Previously, Schwartz was vice president of drug and general
merchandise for Kroger Co &lt;KR>, Perry said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7505" NEWID="18060">
<DATE> 2-JUN-1987 11:25:35.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1423&#31;reute
r f BC-MICRO-D-&lt;MCRD.O>-IN-A   06-02 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>MICRO D &lt;MCRD.O> IN AGREEMENT WITH ZENITH &lt;ZE></TITLE>
<DATELINE>    GLENVIEW, ILL., June 2 - </DATELINE><BODY>Zenith Electronics Corp said its
computer subsidiary signed an agreement under which Micro D Inc
will market the new Zenith Data Systems monitor, which uses the
flat tension mask color video display.
    The monitor offers more than 50 pct greater brightness and
contrast performance than conventional high-revolution computer
monitors, Zenith said. It is compatible with the new IBM
Personal System/2 computers and will be available later this
summer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7506" NEWID="18061">
<DATE> 2-JUN-1987 11:25:47.87</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>turkey</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1425&#31;reute
r f BC-TURKISH-TRADE-DEFICIT   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TURKISH TRADE DEFICIT WIDENS IN APRIL</TITLE>
<DATELINE>    ANKARA, June 2 - </DATELINE><BODY>Turkey's trade deficit widened to 382 mln
dlrs in April from 275 mln in March and 273 mln in April 1986,
the State Statistics Institute said.
    The deficit for the first quarter of 1987 widened to 1.23
billion dlrs from 1.20 billion a year earlier.
    April exports totalled 702 mln dlrs compared with imports
of 1.08 billion.
    Exports in the first four months were worth 2.69 billion
dlrs compared with imports of 3.92 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7507" NEWID="18062">
<DATE> 2-JUN-1987 11:25:57.77</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;f1427&#31;reute
r f BC-UNITED-FINANCIAL-BANK   06-02 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED FINANCIAL BANKING &lt;UFBC.O> 1ST QTR NET</TITLE>
<DATELINE>    VIENNA, Va., June 2 -
    </DATELINE><BODY>Shr four cts vs 21 cts
    Net 29,862 vs 152,826
    NOTE: Full name is United Financial Banking Cos Inc. Net
includes loan loss provision nil vs 40,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7508" NEWID="18063">
<DATE> 2-JUN-1987 11:26:37.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1432&#31;reute
d f BC-DREYFUS-&lt;DRY>-INTRODU   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>DREYFUS &lt;DRY> INTRODUCES STOCK INDEX FUND</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Dreyfus Corp said it introduced a stock
index mutual fund designed primarily for use by bank trust
departments in managing their corporate pension accounts.
    Dreyfus said the fund is keyed to matching the performance
of Standard and Poor's 500 Composite Stock Price Index, and in
addition to purchasing stock of the S and P index, the fund may
also deal in index futures.
    The company said the fund will be managed by &lt;Wells Fargo
Investment Advisors>.
    Minimum investment requirement is one mln dlrs, the company
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7509" NEWID="18064">
<DATE> 2-JUN-1987 11:27:37.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1437&#31;reute
u f BC-SEN-DOLE-SAYS-GREENSP   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>SEN DOLE SAYS GREENSPAN WILL BE GOOD FED CHAIRMAN</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Senate Republican Leader Robert Dole
of Kansas said Alan Greenspan would be a good replacement for
Paul Volcker as Federal Reserve Chairman.
    "While Paul Volcker's retirement is a real loss, this
country is very fortunate to have a man of Alan Greenspan's
caliber to take his place," Dole said in a statement.
    "Alan's knowledge of the economy, coupled with his
experience at the top levels of government, means that the
leadership of the Federal Reserve Board will be in good hands.
Alan, literally, has some big shoes to fill. But I haven't any
doubts he's more than equal to the task," Dole said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7510" NEWID="18065">
<DATE> 2-JUN-1987 11:27:45.10</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;f1438&#31;reute
u f BC-BROWN-GROUP-INC-&lt;BG>   06-02 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>BROWN GROUP INC &lt;BG> 1ST QTR MAY 2 NET</TITLE>
<DATELINE>    ST. LOUIS, Junee 2 -
    </DATELINE><BODY>Shr 56 cts vs 42 cts
    Net 10,030,000 vs 7,833,000
    Sales 392.1 mln vs 339.6 mln
    Avg shrs 17,966,000 vs 18,709,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7511" NEWID="18066">
<DATE> 2-JUN-1987 11:28:11.97</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1439&#31;reute
d f BC-U.S.-ENERGY-SECRETARY   06-02 0141</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ENERGY SECRETARY SEES HIGHER OIL PRICES</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Energy Secretary Donald Hodel said he
expects oil prices to rise significantly by the year 2000,
probably to around 33 dlrs a barrel in current dollars.
    "I do anticipate a significant increase (by 2000).
Thirty-three dlrs a barrel is not unreasonable," Hodel told the
Senate Energy Committee.
    Hodel said the loss of some domestic oil production through
the shutdown of stripper (10 barrels a day or less) wells
because of low prices was probably permanent. He said he was
also concerned by the decline in domestic oil exploration.
    Hodel urged Congress to approve oil exploration in section
1002 of the Arctic National Wildlife Refuge in Alaska. He said
geologic condtions in the area were favorable for the discovery
of oil fields equal to those in nearby Prudhoe Bay.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7512" NEWID="18067">
<DATE> 2-JUN-1987 11:28:46.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1444&#31;reute
s f BC-MUTUAL-OF-OMAHA-INTER   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>MUTUAL OF OMAHA INTEREST SHARES INC &lt;MUO> PAYOUT</TITLE>
<DATELINE>    OMAHA, Neb., June 2 -
    </DATELINE><BODY>Qtly div 36 cts vs 36 cts prior
    Payable July 1
    Record June 12
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7513" NEWID="18068">
<DATE> 2-JUN-1987 11:29:35.72</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;f1445&#31;reute
r f BC-NORTHWEST-TELEPRODUCT   06-02 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHWEST TELEPRODUCTIONS &lt;NWTL.O> 4TH QTR NET</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., June 2 - 
    </DATELINE><BODY>Shr 15 cts vs 16 cts
    Net 239,034 vs 264,485
    Sales 2,932,782 vs 2,664,853
    Year
    Shr 57 cts vs 45 cts
    Net 929,524 vs 741,121
    Sales 10.9 mln vs 9,708,792
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7514" NEWID="18069">
<DATE> 2-JUN-1987 11:31:07.63</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1451&#31;reute
b f BC-******U.S.-JUDGE-SAYS   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. JUDGE SAYS TO DECIDE BURLINGTON REQUEST FOR SAMJENS INJUNCTION IN "FEW DAYS"
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7515" NEWID="18070">
<DATE> 2-JUN-1987 11:33:58.10</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1462&#31;reute
f f BC-******TREASURY'S-BAKE   06-02 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS G-7 AGREE ON POLICY COORDINATION PROCESS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7516" NEWID="18071">
<DATE> 2-JUN-1987 11:37:11.33</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;f1478&#31;reute
u f BC-JUDGE-TO-DECIDE-BURLI   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>JUDGE TO DECIDE BURLINGTON &lt;BUR> IN SEVERAL DAYS</TITLE>
<DATELINE>    Greensboro, N.C., June 2 - </DATELINE><BODY>U.S. District Court Judge Eugene
A. Gordon said he will decide "in the next few days" whether to
grant Burlington Industries Inc's request to stop a takeover by
Samjens Acquisition Corp.
    "I do not know how I come down on this preliminary
injunction," Gordon said after listening to arguments by
attorneys for 1-1/2 days.
    "It's been a long time since I was deluged with as much
information as I have been. I have to consider what's been
presented and issue an opinion on this. Both sides cannot be
winners," he said.
    Burlington requested the injunction to stop a takeover
effort by Samjens, claiming the partnership used illegally
obtained confidential information about the company to make its
offer. It also alleges there would be anti-trust violations if
Samjens, formed by Asher Edelman and Dominion Textiles Inc of
Canada, were to succeed.
    Samjens last week topped a 76 dlr per share offer for
Burlington from Morgan Stanley Group &lt;MS> by one dlr per share.
Morgan Stanley made its 2.44 billion dlr bid after Samjens bid
72 dlrs per share for Burlington.
    Burlington lawyers told the court if the injunction is not
granted Samjens would win control of Burlington. A Samjens
lawyer argued that if the judge granted the injunction it would
"kill the offer"
    Jay Greenfield, an attorney for Samjens, said the
partnership would suffer irreparable harm if the injunction
were granted. "There's only one Burlington," he said. "If we
cannot get that then no amount of money can compensate us."
    Greenfield also said Samjens could sell its holdings in
Burlington for 95 mln dlrs. "We don't want that. We're not in
this for the money," he said.
    Irving Nathan, a Burlington lawyer, reiterated that
information provided by James Ammeen, a former Burlington
executive, was crucial to Dominion's decision to attempt o
takeover of Burlington.
    "Dominion relied on the information provided by the insider
Jim Ammeen," Nathan said.
    An attorney for Ammeen, who is named as a defendant, asked
the court to dismiss the lawsuit against his client. The judge
said he would not rule on the request today.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7517" NEWID="18072">
<DATE> 2-JUN-1987 11:38:08.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1487&#31;reute
r f BC-CORRECTION---PERRY-DR   06-02 0048</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - PERRY DRUG &lt;PDS> NAMES PRESIDENT
    In New York story headlined "Perry Drug Stores &lt;PDS> names
new president," the position of the David Shwartz should read
president and chief operating officer instead of president and
chief executive officer.
(corrects position of Schwartz)
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7518" NEWID="18073">
<DATE> 2-JUN-1987 11:39:04.79</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;f1491&#31;reute
r f BC-COLECO-&lt;CLO>-SUBORDIN   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>COLECO &lt;CLO> SUBORDINATED DEBT DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Strandard and Poor's Corp said it cut to
CCC-plus from B-minus Coleco Industries Inc's 300 mln dlrs of
subordinated debt.
    The company's implied senior debt rating is B.
    S/P said the action reflected significant deterioration in
capital structure and financial flexibility following Coleco's
111 mln dlr net loss in fiscal 1986. The agency attributed the
loss to a falloff in sales of Cabbage Patch Kids dolls.
    Coleco had negative equity of 7.7 mln dlrs at year-end
1986, S/P noted. Future operating performance depends on
several new products with untested earnings potential.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7519" NEWID="18074">
<DATE> 2-JUN-1987 11:39:20.72</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>lawson</D><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1492&#31;reute
f f BC-U.K.'S-LAWSON-CALLS-V   06-02 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.K.'S LAWSON CALLS VOLCKER OUTSTANDING FED CHAIRMAN, SAYS GREENSPAN EXCELLENT SUCCESSOR
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7520" NEWID="18075">
<DATE> 2-JUN-1987 11:39:40.91</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1493&#31;reute
b f BC-/ALLEGIS-&lt;AEG>-TO-SEL   06-02 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGIS &lt;AEG> TO SELL CANADIAN HOTELS</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Allegis Corp said it has created a
limited partnership to sell selected hotels in Canada to the
public.
    It said the offering is expected to raise in excess of 350
mln Canadian dlrs and will be completed by the end of
September.
    The limited partnership will be similar to the Westin
Hotels limited partnership completed last year when Allegis
sold Westin hotels in San Francisco and Chicago. Allegis
reported a pretax gain of 80.6 mln dlrs as a result of that
partnership.
   
    An Allegis spokesman said the offerings have been in
planning stages for a long time and are unrelated to recent
corporate developments such as the firm's recapitalization plan
and a threatened takeover by an investor group lead by Coniston
Partners and the pilots of its United Airlines unit.
    The spokesman said the company has not yet identified which
of its Canadian hotels will be offered for sale.
    Allegis has 100 pct ownership in Westin hotels in
Vancouver, Calgary, Ottawa and Toronto, and 100 pct interest in
Hilton International hotels in Toronto and Montreal. It owns 60
pct of the Westin in Edmonton.
    Richard Ferris, chairman of Allegis, said in a statement
the hotel limited partnerships allow the company to convert
unrecognized asset appreciation into cash.
    As with the proceeds from the earlier limited partnership,
the money will be used for general corporate needs, the
spokesman said.
    Merrill Lynch Capital Markets and Wood Gundy will be lead
underwriters for to the public offering. The limited
partnership will be offered outside the U.S, Allegis said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7521" NEWID="18076">
<DATE> 2-JUN-1987 11:41:11.36</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1500&#31;reute
b f BC-royal-bank-of-canada   06-02 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ROYAL BANK OF CANADA 2ND QTR SHR 83 CTS VS 1.05 DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7522" NEWID="18077">
<DATE> 2-JUN-1987 11:41:58.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1508&#31;reute
r f BC-AMERICAN-MICRO-SIGNS   06-02 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN MICRO SIGNS THREE-YEAR SERVICE PACT</TITLE>
<DATELINE>    TUSTIN, Calif., June 2 - </DATELINE><BODY>&lt;American Micro Technology Co>
said it signed a three-year installation and service agreement
with TRW Inc &lt;TRW>.
    Under the agreement, TRW initially will provide on-site
installation and service of AMT's full line of PC compatible
products in a 100-mile radius of 12 major cities, which
represent more than two-thirds of the PC market, American Micro
said.
    The company said the pact allows it to pursue government
bids which require installation and service support.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7523" NEWID="18078">
<DATE> 2-JUN-1987 11:42:03.66</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f1509&#31;reute
f f BC-******FED-SAYS-IT-SET   06-02 0007</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED SAYS IT SETS TWO DAY MATCHED SALES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7524" NEWID="18079">
<DATE> 2-JUN-1987 11:42:19.36</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1511&#31;reute
r f BC-RAYCOMM-TRANSWORLD-&lt;R   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>RAYCOMM TRANSWORLD &lt;RACM.O> TO MAKE ACQUISITION</TITLE>
<DATELINE>    FREEHOLD, N.J., June 2 - </DATELINE><BODY>Raycomm Transworld Industries Inc
said it has agreed in principle subject to board approvals to
acquire Spiridellis Consulting Group Inc, a privately-held
computer services consulting firm, for a number of common
shares to be determined based on pretax earnings of Spiridellis
over a five-year period.
    The company said it will gaurantee that almost all of the
issued shares will attain price levels ranging from five to
nine dlrs each for two years after their issuance.
    It said Spiridellis had revenues of 3,500,000 dlrs in
calendar 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7525" NEWID="18080">
<DATE> 2-JUN-1987 11:43:10.74</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1513&#31;reute
r f BC-3M-&lt;MMM>-ACQUIRES-CON   06-02 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>3M &lt;MMM> ACQUIRES CONTROL DATA &lt;CDA> UNIT</TITLE>
<DATELINE>    ST PAUL, Minn., June 2 - </DATELINE><BODY>Minnesota Mining and Manufacturing
said it acquired a computerized hospital information systems
business from Control Data Corp.
    Terms were not disclosed.
    The business, which has 145 employees and supplies
computers and software for hospital information systems, will
be integrated into 3M's hospital software business.
    Control Data said the divestiture was part of its strategy
to focus on narrower markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7526" NEWID="18081">
<DATE> 2-JUN-1987 11:43:19.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1514&#31;reute
d f BC-MELLON-&lt;MEL>-SIGNS-PA   06-02 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>MELLON &lt;MEL> SIGNS PACT WITH 21 BANKS</TITLE>
<DATELINE>    PITTSBURGH, June 2 - </DATELINE><BODY>Mellon Bank Corp said it signed
contracts with 21 financial institutions to have Mellon's
network services division process their electronic funds
transfer transactions.
    Mellon said it will provide the institutions, all based in
New England, with automated teller machines.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7527" NEWID="18082">
<DATE> 2-JUN-1987 11:44:02.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1516&#31;reute
d f BC-PHARMACIA-&lt;PHAB.O>-ES   06-02 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>PHARMACIA &lt;PHAB.O> ESTABLISHES VENTURE FUND</TITLE>
<DATELINE>    PISCATAWAY, N.J., June 2 - </DATELINE><BODY>Pharmacia Inc's Pharmacia
Develpoment Co Inc said it established Pharmacia Ventures Inc
to make investments in U.S. growth companies.
    It said investments will be made in such firms as those
producing in-vitro diagnostics, biotechnology, ophthalmology
and health care.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7528" NEWID="18083">
<DATE> 2-JUN-1987 11:44:07.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1517&#31;reute
s f BC-PILLSBURY-CO-&lt;PSY>-RE   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>PILLSBURY CO &lt;PSY> REGULAR DIVIDEND SET</TITLE>
<DATELINE>    MINNEAPOLIS, June 2 -
    </DATELINE><BODY>Qtly div 25 cts vs 25 cts prior
    Pay August 31
    Record August Three
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7529" NEWID="18084">
<DATE> 2-JUN-1987 11:45:58.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1523&#31;reute
u f BC-******GULF-AND-WESTER   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF AND WESTERN &lt;GW> SEES RECORD FISCAL YEAR</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Gulf and Western Inc chairman Martin
Davis said the company will report record results for the
current fiscal year.
    In its last fiscal year ending October 31, the company
earned 228.7 mln dlrs, or 3.66 dlrs a share, on revenues of
2.093 billion dlrs.
    Earlier the company said its second quarter net rose to 86
cts a share from 73 cts a year ago. Davis said the company's
Paramount Pictures Corp had strong momentum, and a substantial
contribution is anticipated from the company's publishing
operations in the third and fourth quarter.
    Davis also said steady growth is expected in financial
services operations, bolstered by the acquisition in May of
Fruehauf's truck trailer financing and leasing business.
    He said the company's entertainment operations should
benefit significantly from Paramount's two major summer motion
pictures, "Beverly Hills Cop II," which grossed 65 mln dlrs in
its first 12 days of North American distribution, and "The
Untouchables," which opens June 3.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7530" NEWID="18085">
<DATE> 2-JUN-1987 11:46:57.81</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1527&#31;reute
u f BC-LUKMAN-SEES-STABLE-OI   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>LUKMAN SEES STABLE OIL PRICE FOR NEXT COUPLE YEARS</TITLE>
<DATELINE>    STOCKHOLM, June 2 - </DATELINE><BODY>The current crude oil price of between
18 and 20 dlrs a barrel will remain stable over the next couple
of years, rising only one to two dlrs a barrel per annum to
keep up with inflation, OPEC President Rilwanu Lukman said.
    Lukman, who was speaking during talks with Swedish trade
officials, said the stable price depended upon output restraint
by both OPEC and non-OPEC oil producers, Swedish government
officials said.
    They said Lukman, who is also Nigerian oil minister, made
the remarks whilst talking about the connection between Third
World debt and industrialised nations.
    Crude oil output controls did not necessarily mean higher
energy bills for the world's industrial nations, Lukman said.
    Although very low oil prices, such as those seen around the
beginning of the year, may appear beneficial for the industrial
countries that depend on imported energy, they would only lead
to wastage and overdependence on the fuel in the long term, he
said.
    This in turn would bring a swing back to extremely high
prices, he added.
    Sweden, heavily dependent on imported oil, suffered a major
crisis in the mid-1970s, when oil prices spiralled.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7531" NEWID="18086">
<DATE> 2-JUN-1987 11:47:07.87</DATE>
<TOPICS><D>interest</D><D>money-fx</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1528&#31;reute
u f BC-BUNDESBANK-CREDIT-POL   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK CREDIT POLICY CHANGES UNLIKELY</TITLE>
<AUTHOR>    By Jonathan Lynn, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, June 2 - </DATELINE><BODY>The Bundesbank is unlikely to change
credit policies when its central bank council meets on Thursday
for its last session before the Venice summit, banking
economists and money market dealers said.
    The Bundesbank steered money market rates lower last month
by cutting the rate on its security repurchase pacts, and is
unlikely to cap this move with a cut in leading interest rates
in the near future, they said.
    The council will meet in Saarbruecken, and the meeting will
be followed by a news conference at around 1030 GMT.
    But Bundesbank officials noted that a news conference was
usually called when the council meets outside Frankfurt, and
did not necessarily herald any policy moves.
    Bundesbank Vice-President Helmut Schlesinger said today
there was no reason to cut interest rates because money supply
growth had shown no signs of slowing in May and the dollar was
stable against the mark.
    Schlesinger told Reuters in Tokyo, where the Bundesbank has
opened a representative office, that the West German economy
was now picking up after contracting by a seasonally adjusted
1/2 to one pct in the first quarter.
    Money market dealers said call money was likely to hold in
a 3.50/70 pct range for most of this month, after the
Bundesbank switched last month to tenders by interest rate at a
minimum bid rate of 3.50 pct, allocating funds at 3.55 pct.
    "They have set this signal and indicated they could maybe
lower market rates even further, but not with the discount or
Lombard," Winfried Hutmann, chief economist of Schroeder,
Munchmeyer, Hengst Investment GmbH said.
    Werner Chrobok, managing partner at Bethmann Bank, said
German rates were among the lowest in industrial countries and
around historical lows for West Germany.
    A further cut in rates would have little impact on the
economy as banks are in any case reporting slack credit demand,
with companies swimming in liquidity, Chrobok said.
    The Bundesbank would therefore be reluctant to make a move
on interest rates, when this would be better held in reserve.
"The Bundesbank is frightened of using up its powder," he said.
    A cut in the discount or Lombard rates, to bring them in
line with the new structure of money market rates since last
month, would have little practical significance, dealers said.
    The Bundesbank could therefore act on these if it wanted a
diplomatic gesture before next week's Venice summit.
    But Bundesbank President Karl Otto Poehl has often made it
clear in the past he opposes such gestures as mere "eyewash."
    Economists said it was really up to the Bonn government to
cut taxes, rather than for the Bundesbank to ease monetary
policy, to meet pressure on West Germany at the Venice summit.
    But with Bonn struggling to finance already announced tax
cuts and falling tax revenue widening the federal budget
deficit, it is hard to see how Bonn could cut taxes further.
    "The Bonn government will be in a very weak position in
Venice because they can't risk increasing the deficit further,"
said Schroeder, Muenchmeyer, Hengst's Hutmann.
    Bethmann's Chrobok said if anything is to happen before
Venice, it must be in fiscal rather than monetary policy. "But I
don't expect any convincing measures," he said.
    Money market dealers noted that call money continued to
normalize today, falling to 3.60/70 pct from 3.75/85 yesterday
and as much as five pct on Friday when it was pushed up by
month-end distortions.
    Call money could come under upwards pressure later this
month because of a major round of tax payments by banks on
behalf of customers, starting in the week beginning June 15.
Two public holidays that week could also distort the market.
    Dealers said they expected the Bundesbank to allocate funds
tomorrow in the latest repurchase pact at an unchanged 3.55
pct, after setting an unchanged minimum bid rate of 3.50 pct,
and to fully replace the 5.5 billion marks in an outgoing pact.
    But dealers said it was possible the Bundesbank would
allocate funds at 3.6 pct rather than 3.55. That would not
represent a tightening of policy, however.
    Because the Bundesbank scales down bids which it allocates
at the minimum accepted rate, some banks may try to get a full
allocation by bidding heavily at 3.6 pct, dealers said.
    On another issue, Poehl has said the Bundesbank is likely
to lift restrictions on private use of the European Currency
Unit (ECU) at one of its meetings soon.
    Saarbruecken would be a suitable place for an announcement
on this gesture to European unity, as it is the capital of the
Saarland bordering France, and was twice under French
occupation this century.
    But dealers said an ECU announcement was unlikely to come
this week, as a number of technical and legal matters had still
to be resolved, for instance how German ECU accounts would be
treated for minimum reserve purposes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7532" NEWID="18087">
<DATE> 2-JUN-1987 11:48:00.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>kenya</D><D>uganda</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1530&#31;reute
d f BC-UGANDAN-GOODWILL-MISS   06-02 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>UGANDAN GOODWILL MISSION TO VISIT KENYA</TITLE>
<DATELINE>    NAIROBI, June 2 - </DATELINE><BODY>A Ugandan goodwill mission led by
minister of state in the presidency Balaki Kirya will visit
Kenya tomorrow for talks on improving strained relations
between the two countries, diplomatic sources said.
    If the talks go well, Ugandan President Yoweri Museveni is
likely to have a meeting with Kenyan leader Daniel arap Moi
when he pays a two-day visit to Nairobi to attend U.N
ceremonies on Friday and Saturday, they added.
    Relations between the two states showed the first signs of
recovery yesterday after three months of steady deterioration.
    The Kenyan President told a military parade there was no
border tension with Uganda and the Kenyan border was fully open
for cargo movements.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7533" NEWID="18088">
<DATE> 2-JUN-1987 11:48:33.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1533&#31;reute
r f BC-NEW-YORK-LIFE-OFFERIN   06-02 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW YORK LIFE OFFERING A GLOBAL MUTUAL FUND</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>&lt;New York Life Insurance Co> said it is
offering its first global mutual fund through its wholly-owned
subsidiary, MacKay-Shields Financial Corp.
    The new fund is called the MacKay-Shields Global Fund, the
company said. Its portfolio contains foreign and U.S.
securities, the company said.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7534" NEWID="18089">
<DATE> 2-JUN-1987 11:49:53.94</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;f1541&#31;reute
u f BC-SOCIETE-GENERALE-DEBT   06-02 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>SOCIETE GENERALE DEBT RATINGS AFFIRMED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed Societe Generale's 1.4 billion dlrs of debt.
    It said Societe Generale took major steps to restructure
its organization and improve capital position in the past two
years. The bank is due to be offered to the public June 15.
    Affirmed were the bank's AA-plus senior debt and AA-minus
perpetual subordinated debt, the AA-plus debt backed by its
long-term letters of credit and Societe Generale (Australia)
Ltd's senior debt. Also, the A-1-plus commercial paper of
Societe Generale North America Inc and Societe Generale
(Canada) and the Europaper of Societe General Acceptance NV.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7535" NEWID="18090">
<DATE> 2-JUN-1987 11:50:01.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1542&#31;reute
u f BC-BUNDESBANK-SOURCES-SA   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK SOURCES SAY VOLCKER MOVE REGRETTED</TITLE>
<DATELINE>    FRANKFURT, June 2 - </DATELINE><BODY>The Bundesbank noted with regret that
Paul Volcker will not be available for a further term as
Federal Reserve chairman, Bundesbank sources said.
    Cooperation with Volcker was always trusting and successful
for many years, the sources said.
    On the other hand the Bundesbank is confident that the good
cooperation between the Bundesbank and the Fed will continue
under the chairmanship of Alan Greenspan, the sources said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7536" NEWID="18091">
<DATE> 2-JUN-1987 11:53:01.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1558&#31;reute
b f BC-/TREASURY'S-BAKER-SEE   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SEES COORDINATION PROCESS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Treasury Secretary James Baker said 
the finance ministers from the group of seven industrial
countries have agreed on a new process for economic
coordination. He declined to be specific.
    Meeting with reporters to discuss the upcoming economic
summit in Venice, Baker said the finance ministers will unveil
the new process, a year in the development, to the heads of
state at that meeting.
    Baker said that in cooperation with the other countries,
details will not be made public.
    Baker said the United States hoped to get a new committment
by the other industrial countries to reduce trade friction over
agricultural products which he said was the major trade issue
facing the global economy.
    He said, however, that it was not expected that any
specific new program would come from the meetings.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7537" NEWID="18092">
<DATE> 2-JUN-1987 11:53:44.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1562&#31;reute
r f BC-VANCOUVER-STOCK-EXCHA   06-02 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>VANCOUVER STOCK EXCHANGE LISTS DIAEM RESOURCES</TITLE>
<DATELINE>    VANCOUVER, British Columbia, June 2 - </DATELINE><BODY>The Vancouver Stock
Exchange said it has listed the common stock of DiaEm Resources
Ltd &lt;DAE.V>, which has interests in an emerald property in
North Carolina and a diamond property in Indonesia.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7538" NEWID="18093">
<DATE> 2-JUN-1987 11:54:05.84</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1564&#31;reute
d f BC-ALCAN-REDUCES-COST-OF   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ALCAN REDUCES COST OF PLANNED SMELTER</TITLE>
<DATELINE>    MONTREAL, June 2 - </DATELINE><BODY>Alcan Aluminium Ltd said it has cut the
expected cost of its planned Laterriere, Quebec, smelter by
using enhanced Grande Baie reduction technology.
    The company said the decision to use prebaked anode
technolgy used at its Grande Baie, Quebec, and Sebree, Ky.,
smelters was taken primarily for cost reasons.
    As a result, it said, the estimated total cost of the
planned smelter will be held to 450 mln U.S. dlrs, the low end
of the range estimated in mid-May, while the cost of the first
phase was cut to 150 mln dlrs from the projected 175-225 mln
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7539" NEWID="18094">
<DATE> 2-JUN-1987 11:54:49.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1567&#31;reute
d f BC-ZIM-ENERGY-&lt;ZIMR.O>-R   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>ZIM ENERGY &lt;ZIMR.O> REVISES LOSS UPWARD</TITLE>
<DATELINE>    HOUSTON, June 2 - </DATELINE><BODY>ZIM Energy Corp said it has revised its
loss for the year ended January 31 to 4.7 mln dlrs from the
loss of 3.1 mln dlrs reported in March.
    A spokesman said the larger loss, which has been reported
on the company's 10K filing with the Securities and Exchange
Commission, reflects management's decision to write off 1.5 mln
dlrs in costs mainly associated with an unsuccessful merger
attempt.
    ZIM also said it has a tentative agreement with "a major
independent company to farm out its interest" in acreage
located near currently producing areas of the Buccaneer Field
located in the Gulf of Mexico offshore Galveston, Texas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7540" NEWID="18095">
<DATE> 2-JUN-1987 11:55:00.59</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1568&#31;reute
b f BC-GERMAN-EXPERTS-SAY-NO   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN EXPERTS SAY NO FURTHER ECONOMIC STIMULUS</TITLE>
<DATELINE>    BONN, June 2 - </DATELINE><BODY>The West German government's independent
council of economic experts believes a further stimulation of
the economy is inappropriate, government spokesman Friedhelm
Ost said.
    A statement released by Ost after a meeting of Chancellor
Helmut Kohl and senior government officials with the council
said the experts believed 1987 ecomomic growth of 1-1/2 to two
pct was achievable.
    It added the council believed "an intensification of the
already expansionary stimulation of monetary and financial
policy is not called for."
    Ost's statement said experts believed further pressure on
West Germany to adapt to external economic factors would not
increase.
    The government regularly uses the term "changed external
economic factors" when referring to the fall of the dollar,
which has severely damaged West German exports. Bonn officials
have said they expect exports to pick up during the year, but
could still fall below the 1986 level.
    Along with other leading industrial countries, West Germany
agreed to a package of measures at a meeting in Paris in
February aimed at stemming the fall of the dollar.
    The stance taken by the experts backs up the official
position of the West German government ahead of next week's
seven nation summit in Venice, where Bonn is expected to be
pressed by the U.S. And other partners to boost its economy.
    West German government officials have stressed Bonn is not
in a position to stimulate growth further since tax cuts due
next year and 1990 are already stretching the budget.
    The Bundesbank has also ruled out a quick cut in official
interest rates although it sees market rates continuing low.
    The experts' prediction for economic growth this year of
between 1-1/2 and two pct is a slight downward revision from a
forecast made last November when two pct growth was forecast.
    Many independent forecasters have revised down 1987
predictions in light of the downturn in exports. The government
itself has said it expects growth of just under two pct,
compared with a 2.4 pct expansion in 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7541" NEWID="18096">
<DATE> 2-JUN-1987 11:55:44.30</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;f1572&#31;reute
u f BC-ROYAL-BANK-OF-CANADA   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE> ROYAL BANK OF CANADA (RY.TO) 2ND QTR APRIL 30 NET</TITLE>
<DATELINE>    MONTREAL, June 2 -
    </DATELINE><BODY>Shr basic 83 cts vs 1.05 dlrs
    Shr diluted 80 cts vs 96 cts
    Net 116,157,000 vs 125,146,000
    Six mths
    Shr basic 1.71 dlrs vs 2.27 dlrs
    Shr diluted 1.63 dlrs vs 2.06 dlrs
    Net 230,265,000 vs 265,535,000
    Loans 67.93 billion vs 65.50 billion
    Deposits 83.71 billion vs 84.25 billion
    Assets 100.00 billion vs 97.50 billion
    Avg shrs 116.4 mln vs 102.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7542" NEWID="18097">
<DATE> 2-JUN-1987 11:57:22.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE><D>ruding</D><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1581&#31;reute
u f BC-DUTCH-FINANCE-MINISTE   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH FINANCE MINISTER APPLAUDS NEW FED CHIEF</TITLE>
<DATELINE>    THE HAGUE, June 2 - </DATELINE><BODY>Dutch Finance Minister Onno Ruding
welcomed President Reagan's decision to name economist Alan
Greenspan as successor to Federal Reserve Board Chairman Paul
Volcker, who will not serve another term.
    "The minister feels the choice of Alan Greenspan is an
excellent one," said a spokesman for Ruding, who also chairs the
IMF policy making interim committee. He did not elaborate.
    But Ruding expressed regret over Volcker's departure saying
he had "great appreciation for the work he has done all these
years," the spokesman said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7543" NEWID="18098">
<DATE> 2-JUN-1987 11:57:34.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1584&#31;reute
d f BC-SYNERCOM-TECHNOLOGY-&lt;   06-02 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>SYNERCOM TECHNOLOGY &lt;SYNR.O> EXECUTIVE LEAVES</TITLE>
<DATELINE>    HOUSTON, June 2 - </DATELINE><BODY>Synercom Technology Inc said vice
president Charles W. Ryle will be leaving the company for
personal reasons.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7544" NEWID="18099">
<DATE> 2-JUN-1987 11:57:55.69</DATE>
<TOPICS><D>carcass</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f1585&#31;reute
u f BC-EX-USDA-OFFICIAL-URGE   06-02 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>EX-USDA OFFICIAL URGES CHICKEN HANDLING LABELS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>A former U.S. Agriculture Department
official urged the department to require that packages of
chicken be labeled with handling and cooking instructions to
protect the public from disease.
    Carol Tucker Foreman, President of Foreman and Heidepriem
and a former assistant secretary of agriculture for food and
consumer services, told a House Agriculture subcommittee, "every
hour of every day, 22 Americans become victims of chicken
contaminated with salmonella."
    She said every two and a half weeks, an American dies of
salmonellosis or complications arising from it and the
incidence of poisoning from poultry has increased steadily over
the past several years.
    Foreman said USDA should follow a National Academy of
Sciences recommendation to label chicken packages to remind
consumers of preparation procedures necessary to avoid illness.
    She urged USDA to require that birds be washed thoroughly
before they are defeathered and that defeathering machines be
cleaned several times a day, that birds be condemned if their
intestines are punctured or there is visible fecal
contamination and that chiller water be changed more often.
    Kenneth Blaylock, President of the American Federation of
Government Employees, said a poultry industry recommendation to
move away from the current bird-by-bird inspection could prove
"disastrous." He said a strengthened bird-by-bird inspection with
slower line speeds was the foundation upon which new inspection
techniques should be overlaid.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7545" NEWID="18100">
<DATE> 2-JUN-1987 12:00:29.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1598&#31;reute
u f BC-PROXMIRE-SAYS-VOLCKER   06-02 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>PROXMIRE SAYS VOLCKER RETIREMENT A LOSS FOR U.S.</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Senate Banking Committee chairman
William Proxmire, D-Wis, said Paul Volcker's decision to leave
the Federal Reserve Board was a loss for the country.
    "I think it is a serious loss for the country," Proxmire said
in a Senate speech. He had no comment on the nomination of Alan
Greespan to replace Volcker.
    Proxmire's committee will hold confirmation hearings on
Greenspan, but no date has been scheduled.
    "Mr Volcker has been a superb chairman of the Federal
Reserve Board. He has the confidence of the business community.
He has the confidence of the country. And I thought he had the
confidence of the Administration. We are going to miss him very
much."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7546" NEWID="18101">
<DATE> 2-JUN-1987 12:00:59.72</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;f1601&#31;reute
r f BC-CENTURY-&lt;CCC.O>-TO-BU   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTURY &lt;CCC.O> TO BUY TO PUERTO RICAN CO</TITLE>
<DATELINE>    NEW CANAAN, Conn., June 2 - </DATELINE><BODY>Century Communications Corp
said it had entered into an agreement to acquire all the assets
of &lt;Community Cable Vision of Puerto Rico Associates>  and its
associated companies for about 12 mln dlrs.
    Century said it anticipates that &lt;ML Media Partners LP>,
which jointly owns with Century a company called &lt;Cable
Television Co> of greater San Juan, will join in acquisition
and management of Community Cable.
    Century said Community Cable is located in San Juan, Puerto
Rico.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7547" NEWID="18102">
<DATE> 2-JUN-1987 12:03:31.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1613&#31;reute
u f BC-ST.-GERMAIN-REGRETS-V   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ST. GERMAIN REGRETS VOLCKER STEPPING DOWN</TITLE>
<DATELINE>     WASHINGTON, June 2 - </DATELINE><BODY>House Banking Committee chairman
Fernand St. Germain, a Rhode Island Democrat, said he regretted
Federal Reserve Board chairman Paul Volcker had decided not to
accept a new term.
    "Paul Volcker has been an island of strength and stability,"
St. Germain said in a statement.
    "I deeply regret his decision," he added. "This nation has
been extremely fortunate in having giants on the scene during
times of crisis. Thank God, Paul Volcker was available during
this period of domestic and world economic turmoil," St. Germain
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7548" NEWID="18103">
<DATE> 2-JUN-1987 12:05:40.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>lse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1624&#31;reute
u f BC-BBC-DECLINES-COMMENT   06-02 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>BBC DECLINES COMMENT ON U.K. POLL RUMOURS</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The British Broadcasting Corporation
declined comment on rumours circulating in the London Stock
Exchange that it would release an opinion poll tonight showing
the Conservative and Labour parties running level in marginal
seats. The general election is set for June 11.
    The rumour was cited by several market dealers as a factor
contributing to this afternoon's slide in share prices. The
FTSE 100 share index in late afternoon was down 7.4 points at
2,220.7, having earlier touched a new record of 2,248.8.
    Nationally, most polls put the Conservatives nine to 10
points ahead, enough for a comfortable election victory
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7549" NEWID="18104">
<DATE> 2-JUN-1987 12:06:16.12</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;V RM
&#22;&#22;&#1;f1626&#31;reute
u f AM-SANCTIONS   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WEIGHS LIFTING JAPANESE TRADE CURBS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The White House has completed a new
review of Japanese semiconductor trading practices but has not
yet decided whether trade sanctions levied against Japan last
April should be lifted, U.S. officials said.
    They said the president's Economic Policy Council looked at
Japan's adherence to the 1986 U.S.-Japanese semiconductor pact
yesterday and that an announcement may be made shortly.
    But there was no hint what the announcement might be.
    Officials have said the 100 pct tariffs on 300 mln dlrs of
Japanese exports could be modified if Japan was found to be
honoring a portion of its semiconductor pact.
    But they also noted that the White House has said it was
unlikely the tariffs would be lifted before the meeting of the
world's seven major economic powers in Venice on June 8-10.
    The officials added that while the curbs complicated
U.S.-Japanese economic cooperation, they did serve to blunt 
Congressional criticism that the Reagan Administrtation was not
taking tough actions to reduce he U.S. trade deficit.
    Reagan imposed the sanctions on April 17 in retaliation for
Japan's failure to honor commitments to end dumping
semiconductors in world markets at less than production costs
and to open its own market to U.S. goods.
    The sanctions were levied on certain Japanese television
sets, personal computers and hand-held power tools.
    Reagan, in imposing the curbs, said they would be lifted as
soon as there was evidence of a pattern that Japan was adhering
to the pact.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7550" NEWID="18105">
<DATE> 2-JUN-1987 12:06:45.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1628&#31;reute
u f BC-CSFB-ECONOMIST-SAYS-V   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CSFB ECONOMIST SAYS VOCLKER'S RESIGNATION A SHOCK</TITLE>
<DATELINE>    ZURICH, June 2 - </DATELINE><BODY>The decision by Paul Volcker not to serve
a third term as chairman of the U.S. Federal Reserve Board is a
shock for financial markets and the world economy, Hans Mast,
senior economic adviser to Credit Suisse First Boston, said.
    "The markets will believe there will be pressure for a more
expansive policy (in the United States)," he said.
    "I would say this is quite a shock for the world economy," he
added. "He always stood for an anti-inflationary policy and
tight fiscal discipline. He was one of the best central bankers
America has had."
    Mast said the markets would now be trying to assess what
sort of direction the Fed would be taking under Alan Greenspan,
designated to succeed Volcker.
    "Greenspan is more of a politician than an academician, but
the most important thing is that he has little experience in
banking," Mast said.
    Greenspan's first comments on being named were that the
dollar appeared to have bottomed out, but Mast said that
conviction would have to be backed by policy. "How can you say
the dollar has bottomed out with the present level of current
account deficits?" he said. "I would be sceptical."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7551" NEWID="18106">
<DATE> 2-JUN-1987 12:06:51.27</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1629&#31;reute
f f BC-******U.S.-HOUSE-SPEA   06-02 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. HOUSE SPEAKER WRIGHT CONCERNED of INTEREST RATE RISE UNDER GREENSPAN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7552" NEWID="18107">
<DATE> 2-JUN-1987 12:09:48.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE><D>lawson</D><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1647&#31;reute
u f BC-LAWSON-SAYS-VOLCKER-O   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>LAWSON SAYS VOLCKER OUSTANDING FED CHAIRMAN</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>U.K. Chancellor of the Exchequer Nigel
Lawson said Paul Volcker has been an outstanding Chairman of
the Federal Reserve and he will be greatly missed, a spokesman
for the U.K. Treasury said.
    The spokesman was relaying Lawson's reaction to news that
Volcker will not be seeking a third term as chairman. Lawson is
campaigning in London ahead of the June 11 general election.
    Lawson also said he thought Alan Greenspan an excellent
choice as Volcker's successor and that he sees no reason to
expect a change in policy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7553" NEWID="18108">
<DATE> 2-JUN-1987 12:11:51.59</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F A
&#22;&#22;&#1;f1662&#31;reute
u f BC-ENERGY-SECRETARY-SEES   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGY SECRETARY SEES HIGHER OIL PRICES</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Energy Secretary Donald Hodel said he
expects oil prices to rise significantly by the year 2000,
probably to around 33 dlrs a barrel in current dollars.
    "I do anticipate a significant increase (by 2000).
Thirty-three dlrs a barrel is not unreasonable," Hodel told the
Senate Energy Committee.
    Hodel said the loss of some domestic oil production through
the shutdown of stripper (10 barrels a day or less) wells
because of low prices was probably permanent. He said he was
also concerned by the decline in domestic oil exploration.
    Hodel urged Congress to approve oil exploration in section
1002 of the Arctic National Wildlife Refuge in Alaska. He said
geologic condtions in the area were favorable for the discovery
of oil fields equal to those in nearby Prudhoe Bay.
    "The area could contain potentially recoverable oil
resources of more than 9.2 billion barrels, an amount nearly
equal to the Prudhoe Bay oil field, which currently provides
almost one-fifth of U.S. domestic production," Hodel said.
    He said production from the new section could begin about
the time Prudhoe Bay production begins to decline in 2000
without endangering caribou or other wildlife in the area.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7554" NEWID="18109">
<DATE> 2-JUN-1987 12:16:29.82</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1697&#31;reute
r f BC-DANISH-RESERVES-RISE   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>DANISH RESERVES RISE 10.5 BILLION CROWNS IN MAY</TITLE>
<DATELINE>    COPENHAGEN, June 2 - </DATELINE><BODY>Denmark's net official reserves rose
to 60.629 billion crowns in May from 48.380 billion in April,
against 39.481 billion in May 1986, the Central Bank said in
its monthly balance sheet report.
    Total net reserves, including reserves held by commercial
and major savings banks and corrected for exchange rate
adjustments, rose to 58.373 billion crowns in May from 47.835
billion in April, against 32.443 billion in May 1986.
    The Bank said in a statement that public loan transactions
accounted for net capital import of 0.1 billion crowns in May,
with net registered private capital imports of 9.1 billion.
    "Of this, the net sale of Danish crown bonds to other
countries totalled about 2.5 billion crowns. There was balance
between the purchase and sale of foreign securities," the
statement added.
    The Central Bank said that figures for private bank
reserves and registered capital movements were provisional and
there was no estimate yet of unregistered movements.
    "It is therefore not possible on this basis to draw
conclusions about the developments of the external current
account," the statement added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7555" NEWID="18110">
<DATE> 2-JUN-1987 12:19:05.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>ivory-coast</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-africa</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1712&#31;reute
r f BC-AFRICAN-DEVELOPMENT-B   06-02 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>AFRICAN DEVELOPMENT BANK SEEKS COFFEE COOPERATION</TITLE>
<DATELINE>    ABIDJAN, June 2 - </DATELINE><BODY>The African Development Bank (ADB) is
seeking a broad-based cooperation agreement with the 25-member
Inter African Coffee Organisation (IACO), based in Abidjan.
    ADB secretary general Koffi Dei-Anang told a news
conference he hoped the bank's governors would approve such an
agreement at the ADB annual general meeting next week in Cairo.
The bank is seeking cooperative agreements with various
international organisations including IACO, he said.
    Dei-Anang said the ADB and IACO could cooperate on all
fronts and an exchange of information would enable them to
identify areas where the bank might help the coffee industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7556" NEWID="18111">
<DATE> 2-JUN-1987 12:19:36.34</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1716&#31;reute
r f BC-STEWART-&lt;STEW.O>-SELL   06-02 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>STEWART &lt;STEW.O> SELLS PLANT TO SARA LEE &lt;SLE></TITLE>
<DATELINE>    NORFOLK, Va., June 2 - </DATELINE><BODY>Stewart Sandwiches Inc said it has
sold its coffee roasting plant to Sara Lee Corp's Superior
Coffee and Foods subsidiary for undisclosed terms.
    The company said Superior will become the exclusive packer
of Squire labeled coffee products, which are marketed by
Stewart, and Stewart will provide equipment, service and
distribution suppoort for some Superior coffee accounts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7557" NEWID="18112">
<DATE> 2-JUN-1987 12:19:52.98</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;f1718&#31;reute
r f BC-TANDY-&lt;TAN>-DEBT-MAY   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>TANDY &lt;TAN> DEBT MAY BE UPGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Moody's Investors Service Inc said it
may upgrade Tandy Corp's 175 mln dlrs of long-term debt.
    The agency said the review would focus on Tandy's capacity
to sustain its current earnings recovery and on the company's
ability to further improve its cash flow performance by greater
operating efficiencies.
    Moody's said it would also evaluate Tandy's capital
structure. That structure has changed significantly as a result
of the retirement of about 250 mln dlrs of debt in the past
year. Under review are Tandy's A-3 senior debt and Baa-1
subordinated debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7558" NEWID="18113">
<DATE> 2-JUN-1987 12:20:14.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1721&#31;reute
r f BC-GATEWAY-&lt;GWAY.O>-CUTS   06-02 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>GATEWAY &lt;GWAY.O> CUTS ADAPTER CARD COST 25 PCT</TITLE>
<DATELINE>    IRVINE, Calif., June 2 - </DATELINE><BODY>Gateway Communications Inc said it
reduced the price of its G/NET network adapter card 25 pct to
395 dlrs from 525 dlrs.
    Gateway said the local area network (LAN) market has become
very popular in the computer industry, and said LAN suppliers
are finding end users more receptive to and demanding of LAN
technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7559" NEWID="18114">
<DATE> 2-JUN-1987 12:20:18.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1722&#31;reute
d f BC-SECURITY-BANCORP-&lt;SEC   06-02 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY BANCORP &lt;SECB.O> MERGES TWO UNITS</TITLE>
<DATELINE>    SOUTHGATE, Mich., June 2 - </DATELINE><BODY>Security Bancorp Inc said it has
merged its Security Bank of Almont unit into its Security Bank
Northeast unit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7560" NEWID="18115">
<DATE> 2-JUN-1987 12:20:23.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1723&#31;reute
d f BC-LOPAT-INDUSTRIES-&lt;LPA   06-02 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>LOPAT INDUSTRIES &lt;LPAT.O> HAS PROFITABLE MONTH</TITLE>
<DATELINE>    WANAMASSA, N.J., June 2 - </DATELINE><BODY>Lopat Industries Inc said it had
its first profitable month of operations in May, earning 47,900
dlrs on revenues of 162,200 dlrs.
    Lopat said "The May results signal the start of profitable
operations and growing revenues over the balance of the year."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7561" NEWID="18116">
<DATE> 2-JUN-1987 12:20:57.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1727&#31;reute
d f BC-SPARTECH-&lt;SPTN.O>-MAY   06-02 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>SPARTECH &lt;SPTN.O> MAY BUY 10 PCT OF ITS STOCK</TITLE>
<DATELINE>    ST. LOUIS, June 2 - </DATELINE><BODY>Spartech Corp said it will repurchase
up to 10 pct of its 2.6 mln common shares outstanding.
    The company said it believes the common stock is
undervalued at current prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7562" NEWID="18117">
<DATE> 2-JUN-1987 12:21:13.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1729&#31;reute
u f BC-G-AND-W-&lt;GW>-NAMES-PE   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>G AND W &lt;GW> NAMES PENNZOIL'S LIEDTKE TO BOARD</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Gulf and Western Inc said it named
Pennzoil Co &lt;PZL> chairman and chief executive officer J. Hugh
Liedtke to its board, expanding the number of directors from 14
to 15.
    It is the first outside board appointment for Liedtke,
whose company is involved in a 10.3 billion dlr legal dispute
with Texaco Inc &lt;TX>.
    "Mr Liedtke is an outstanding addition to our board," said
Gulf and Western chairman Martin Davis. "He has demonstated
broad business judgment and insight in directing the success of
his company and we look forward to his advice and counsel."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7563" NEWID="18118">
<DATE> 2-JUN-1987 12:21:18.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1730&#31;reute
d f BC-IMMUNOMEDICS-&lt;IMMU.O>   06-02 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>IMMUNOMEDICS &lt;IMMU.O> HAS NEW LINKER TECHNOLOGY</TITLE>
<DATELINE>    NEWARK, N.J., June 2 - </DATELINE><BODY>Immunomedics Inc said it has
developed a technology that makes it possible to join chemical
molecules to antibodies in a more selective manner than now
possible.
    It said it has filed a patent application, which is
expected to be issued shortly as a patent for the technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7564" NEWID="18119">
<DATE> 2-JUN-1987 12:21:24.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1731&#31;reute
d f BC-WHARF-RESOURCES-&lt;WFRA   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>WHARF RESOURCES &lt;WFRA.O> SETS DEAL WITH NEVARD</TITLE>
<DATELINE>    CALGARY, Alberta, June 2 - </DATELINE><BODY>Wharf Resources Ltd said it has
reached a verbal agreement with &lt;Nevada Packard> for a joint
venture to explore, evaluate and produce the Nevada precious
metal property near Lovelock, Nev.
    Wharf said it wil receive an exclusive option to update an
existing feasibility study and evaluate a production decision.
    Subject to completion of necessary documentation, Wharf
said it expects work on the Nevada property to begin
immediately.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7565" NEWID="18120">
<DATE> 2-JUN-1987 12:21:29.34</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1732&#31;reute
d f BC-AEP-INDUSTRIES-INC-&lt;A   06-02 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>AEP INDUSTRIES INC &lt;AEPI.O> 2ND QTR APRIL 30</TITLE>
<DATELINE>    MOONACHIE, N.J., June 2 -
    </DATELINE><BODY>Shr 21 cts vs 11 cts
    Net 638,000 vs 340,000
    Sales 16.9 mln vs 14.7 mln
    Avg shrs 3,007,048 vs 3,006,250
    1st half
    Shr 41 cts vs 41 cts
    Net 1,224,000 vs 1,142,000
    Sales 31.1 mln vs 29.8 mln
    Avg shrs 3,006,704 vs 2,757,631
    NOTE: Current year net both periods includes nonrecurring
gain 213,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7566" NEWID="18121">
<DATE> 2-JUN-1987 12:21:35.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1734&#31;reute
d f BC-HADRON-&lt;HDRN.O>-GETS   06-02 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>HADRON &lt;HDRN.O> GETS CUSTOMS SERVICE CONTRACT</TITLE>
<DATELINE>    FAIRFAX, Va., June 2 - </DATELINE><BODY>Hadron Inc said it has received a
three-year one mln dlr contract from the U.S. Customs Service
to provide technical and managerial support to Customs'
research and development division.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7567" NEWID="18122">
<DATE> 2-JUN-1987 12:21:38.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1735&#31;reute
s f BC-MFS-MULTIMARKET-INCOM   06-02 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>MFS MULTIMARKET INCOME TRUST SETS DIVIDEND</TITLE>
<DATELINE>    BOSTON, June 2 -
    </DATELINE><BODY>Mthly div 10-1/4 cts vs 10-1/4 cts prior
    Pay June 26
    Record June 12
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7568" NEWID="18123">
<DATE> 2-JUN-1987 12:21:43.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1736&#31;reute
s f BC-JIM-WALTER-CORP-&lt;JWC>   06-02 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>JIM WALTER CORP &lt;JWC> SETS REGULAR PAYOUT</TITLE>
<DATELINE>    TAMPA, Fla., June 2 -
    </DATELINE><BODY>Qtrly 35 cts vs 35 cts
    Pay July One
    Record June 15
    Note: payment is based on pre- five-for-four stock split
basis, which is to be distributed July 12 to stockholders of
record June 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7569" NEWID="18124">
<DATE> 2-JUN-1987 12:21:46.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1737&#31;reute
s f BC-HUDSON-GENERAL-CORP-&lt;   06-02 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>HUDSON GENERAL CORP &lt;HGC> SETS DIVIDEND</TITLE>
<DATELINE>    GREAT NECK, N.Y., June 2 -
    </DATELINE><BODY>Semi div 20 cts vs 20 cts prior
    Pay July One
    Record June 17
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7570" NEWID="18125">
<DATE> 2-JUN-1987 12:21:51.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1738&#31;reute
s f BC-GULF-AND-WESTERN-INC   06-02 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF AND WESTERN INC &lt;GW> SETS QUARTERLY PAYOUT</TITLE>
<DATELINE>    NEW YORK, June 2 -
    </DATELINE><BODY>Qtly div 30 cts vs 30 cts
    Pay July one
    Record June 12
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7571" NEWID="18126">
<DATE> 2-JUN-1987 12:28:13.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1761&#31;reute
u f BC-ITALIAN-ECONOMISTS-RE   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN ECONOMISTS REGRET VOLCKER DECISION</TITLE>
<DATELINE>    ROME, June 2 - </DATELINE><BODY>Leading Italian economists said they
regretted Paul Volcker's decision not to serve another term as
chairman of the Federal Reserve Board.
    Luigi Spaventa, Professor of Economics at Rome University,
told Reuters he thought the decision was a great loss to the
world's financial markets.
    "He (Volcker) was an element of reliability and stability
around world financial markets, a man of great experience,
balance and equilibrium," Spaventa said.
    Spaventa said it was difficult to gauge immediately what
Volcker's decision might mean for the dollar, but he noted that
the markets seemed to like Volcker.
     Mario Monti, Director of the Institute of Economics at
Milan's Bocconi University, told Reuters that "whoever succeeds
Volcker would face a formidable task because no central banker
has ever given such credibility to monetary policy and fighting
inflation."
    Monti said Alan Greenspan, who has been nominated to take
over from Volcker, was likely to pursue "a rigorous monetary
policy to demonstrate to the markets that there will be no loss
of credibility."
    Officials at the Bank of Italy and the Italian Treasury had
no comment on Volcker's decision.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7572" NEWID="18127">
<DATE> 2-JUN-1987 12:29:20.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1764&#31;reute
u f BC-TRACOR-&lt;TRR>-SEES-BET   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>TRACOR &lt;TRR> SEES BETTER YEAR</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Tracor Inc chief executive officer Frank
McBee said 1987 earnings will be signficantly better than the
18.8 mln dlrs, or 97 cts per share, achieved in 1986.
    McBee told Reuters before an analysts meeting that he was
comfortable with estimates by some analysts' that per share
earnings will rise to 1.55 dlrs to 1.60 dlrs per share in 1987.
    He said also results in the second quarter ending June 30
should be ahead of last year. First quarter net income fell 7.3
mln dlrs, or 37 cts per share, from 7.4 mln dlrs, or 38 cts per
share, a year ago.
   
    Chief operating officer Bud Baird said Tracor expects to
announce several contracts in the second quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7573" NEWID="18128">
<DATE> 2-JUN-1987 12:31:20.57</DATE>
<TOPICS><D>ship</D><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1776&#31;reute
u f BC-TIGHT-FAR-EAST-FREIGH   06-02 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>TIGHT FAR EAST FREIGHT SPACE HITS SUGAR MARKET</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The Far Eastern sugar market is being hit
by a tightening in available nearby freight space needed to
move raw sugar to various destinations, notably from Thailand,
traders said.
    This has resulted in a hardening of freight rates in those
areas. These are now being quoted between 12.5 and 17.5 dlrs a
tonne per day, depending on shipment and destination, against
recent fixings below 12 dlrs a tonne.
    Charterers are considering combining contracted shipments
because of inadequate space, shipping sources said, noting 13
raws cargoes are awaiting shipment from various ports.
    A cargo of Thai raw sugar was reported traded at basis July
New York futures less 25 points for June/July 15 shipment,
traders said. But others said this was old business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7574" NEWID="18129">
<DATE> 2-JUN-1987 12:32:25.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1779&#31;reute
u f AM-AIDS   06-02 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>AZT SUPRESSES DISEASES BESIDES AIDS, RESEARCHERS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Scientists reported that AZT, a
compound found useful in fighting AIDS, can also suppress a
wide range of diseases, including certain types of leukemia.
      A paper on AZT, presented at the Third International
Conference on Acquired Immune Deficiency Syndrome by Cancer
Institute researcher Hiroaki Mitsuya, said, "we now report that
the dideoxynucleosides, including AZT, can suppress a wide
range of human and animal retroviruses in vitro (in test
tubes)."
     Among those he cited were human T-cell leukemia virus-I
which causes a number of diseases including leukemia,
immunodeficiencies and neuorological disorders. AIDS is caused
by a retrovirus.
    AZT is made by Burroughs Wellcome Co, the U.S. subsidiary
of the British Wellcome Plc &lt;WELL.L>.
    Mitsuya is a member of a team of American and Japanese
researchers at the National Cancer Institute that made the
original discovery last year that AZT prolonged the life of
dying AIDS patients.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7575" NEWID="18130">
<DATE> 2-JUN-1987 12:36:21.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1807&#31;reute
b f BC-/U.S.-SPEAKER-FEARS-H   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SPEAKER FEARS HIGHER RATES UNDER GREENSPAN</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>U.S. House Speaker Jim Wright said he
was concerned that the appointment of Alan Greenspan to succeed
Paul Volcker at the Federal Reserve Board would mean interest
rates would rise.
    Speaking to reporters, the Texas Democrat said that based
of Greenspan's tenure as chairman of President Nixon's Council
of Economic Advisers his policies would mean higher rates.
    "His previous service indicates the kind of economic
policies based on the trickle down theory rather than the
percolate up theory. This theory tends to higher interest
rates," Wright said.
    Wright told reporters he would not have chosen Greenspan to
head the Fed, but he declined to name his preference. "It would
be someone whose primary interest is in keeping interest rates
low. That is the national interest," he said.
    His main concern was that high interest rates have slowed
economic growth and held down the number of new jobs. The
United States needs "to reduce the level of interest rates so
this economy can get oxygen and breathe," Wright said.
    Wright said he had not talked with Greenspan about the
appointment.
    Asked to rate Volcker's tenure, he replied, "Long."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7576" NEWID="18131">
<DATE> 2-JUN-1987 12:38:28.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>japan</D></PLACES>
<PEOPLE><D>lawson</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1820&#31;reute
r f BC-U.K.-MERCHANT-BANKS-T   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MERCHANT BANKS TO JOIN TOKYO EXCHANGE IN 1988</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Chancellor of the Exchequer Nigel Lawson
said satisfactory progress has been made in talks with Japan
that would lead to membership of the Tokyo Stock Exchange for
three British merchant banks next year.
    Following weekend talks here between Japanese and British
officials Lawson told reporters "we have achieved our objective."
    The three applicants, &lt;Baring Brothers and Co Ltd>,
&lt;J.Henry Wagg and Co Ltd> and Kleinwort Benson Lonsdale Plc
&lt;KSLL.L>, would join "when the Stock Exchange has been extended,"
he said.
    The TSE has said this will be completed in May 1988. It has
repeatedly said it cannot accommodate any new members until
then because of limited space on its trading floor.
    During a visit to Tokyo in April, U.K. Corporate Affairs
Minister Michael Howard presented Japanese officials with what
he called a non-negotiable timetable for granting the three
British securities companies TSE membership.
    Howard said Britain expected a favourable response at last
weekend's meeting and wanted the firms to be made members
before next May. If Tokyo failed to act, Britain was ready to
retaliate against Japanese financial groups in London, he
added.
    Last month the Tokyo Stock Exchange announced plans to set
up a special committee to study the membership question.
    The committee is due to produce a report by the autumn.
This would allow the TSE to announce formally by the end of the
year who will be granted membership, although the companies
chosen would not be able to start trading until May.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7577" NEWID="18132">
<DATE> 2-JUN-1987 12:39:19.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>stoltenberg</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1824&#31;reute
u f BC-STOLTENBERG-PRAISES-F   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>STOLTENBERG PRAISES FED'S VOLCKER</TITLE>
<DATELINE>    BONN, June 2 - </DATELINE><BODY>Finance Minster Gerhard Stoltenberg praised
the excellent leadership of Federal Reserve Board Chairman Paul
Volcker whom the White House said will not be standing for a
third term when his current period in office expires.
    "Paul Volcker will go down in U.S. History as one of the
important chairmen of the Federal Reserve Board. By his
excellent leadership he has also won our great respect,"
Stoltenberg said in a Finance Ministry statement.
    The minister described Volcker's successor, economist Alan
Greenspan, as an experienced and capable man and wished him all
the best in his new role.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7578" NEWID="18133">
<DATE> 2-JUN-1987 12:40:14.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F
&#22;&#22;&#1;f1830&#31;reute
u f BC-MOODY'S-UPGRADES-BELL   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S UPGRADES BELL ATLANTIC'S &lt;BEL> N.J. BELL</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Moody's Investors Service Inc said it
raised to Aaa from Aa-1 about 1.4 billion dlrs of senior
unsecured debentures of New Jersey Bell Telephone Co, a unit of
Bell Atlantic Corp.
    The agency said it believes that New Jersey Bell will
sustain strong earnings and interest coverage. The company
should continue to benefit from constructive regulatory
treatment as well as from the state's healthy economy.
    Moody's noted that the unemployment rate in New Jersey is
among the lowest in the country. The state is moving rapidly to
a higher growth, service industry based economy, it added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7579" NEWID="18134">
<DATE> 2-JUN-1987 12:40:24.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1832&#31;reute
u f BC-HF-AHMANSON-&lt;AHM>-EST   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>HF AHMANSON &lt;AHM> ESTIMATES CUT BY GOLDMAN SACHS</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>The stock of HF Ahmanson and Co fell
sharply after analyst Robert Hottensen of Goldman Sachs and Co
cut his earnings estimates of the savings and loan, traders
said.
    Ahmanson's stock fell 1-1/8 to 20-1/8 in active trading.
    Hottensen was unavailable for comment, but a spokeswoman
for Goldman Sachs said the reason for the reduction in earnings
estimates is the decline in demand for mortgage loans as
interest rates move higher. Mortgage rates moved to double
digits in april for the first time since last summer.
    The Goldman spokeswoman said that sales of adjustable rate
mortgages was a significant factor in Hottensen's original
earnings estimates.
    Last year, when the company's net income was 3.22 dlrs a
share, Ahmanson generated more than half of its 541 mln dlrs of
pretax income from gains on loan sales, the spokeswoman said.
    She said the reduction in earnings estimates to 2.60 dlrs a
share in 1987 from a previous estimate of 3.30 dlrs, reflects
less optimism with the mortgage loan environment.
    In the present environment for mortgages, the spokeswoman
said, Ahmanson's second quarter earnings should drop to 45 cts
a share from last year's 80 cts a share.
    Hottnesen expects the savings and loan to earn between 2.90
dlrs and 3.10 dlrs a share in 1988. he had previously estimated
earnings of 3.30 dlrs a share in 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7580" NEWID="18135">
<DATE> 2-JUN-1987 12:44:15.26</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;f1848&#31;reute
r f BC-NCNB-&lt;NCB>-TO-MERGE-W   06-02 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>NCNB &lt;NCB> TO MERGE WITH (CENTRABANK)</TITLE>
<DATELINE>    CHARLOTTE, N.C., June 2 - </DATELINE><BODY>NCNB Corp said the board of
governors of the Federal Reserve System approved its
application to merge with (CentraBank Inc) of Baltimore,
expected to be completed July 1.
    The company said the board's approval included the
dismissal of a protest by the Baltimore-based Maryland Alliance
for Responsible Investing against NCNB's performance under the
Community Reinvestment Act.
   
    The company said Maryland Alliance wanted the merger
blocked on the grounds that NCNB inadequately served the credit
and financial needs of low-income and minority communities in
its markets.
    The company said it denied the claim.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7581" NEWID="18136">
<DATE> 2-JUN-1987 12:45:17.75</DATE>
<TOPICS><D>money-fx</D><D>sfr</D><D>dmk</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1851&#31;reute
u f BC-LEUTWILER-WANTS-FIRME   06-02 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>LEUTWILER WANTS FIRMER MARK AGAINST SFR</TITLE>
<DATELINE>    BADEN, Switzerland, June 2 - </DATELINE><BODY>Fritz Leutwiler, chairman of
BBC AG Brown Boveri und Cie and a former Swiss National Bank
president, urged the National Bank to declare its intent of
achieving a rising rate for the mark against the Swiss franc.
    In a speech to shareholders, Leutwiler said, "A gradually
rising rate for the mark in relation to the franc would be
desirable from the standpoint of industrial exports and with
regard to sustaining Swiss industry."
    "Simply an appropriate declaration of intent by our bank of
issue (Swiss National Bank) could have a positive effect," he
said.
    Leutwiler, who served 10 years as head of the Swiss central
bank, said such a step would not contradict the National Bank's
target of monetary stability.
    "Bringing the franc close to the mark would, of course, have
to be done step by step under the watchful eye of monetary
policy," he told shareholders. "Realistically there is in fact no
persuasive reason why the German currency is quoted almost 20
pct lower than the Swiss."
    A National Bank spokesman said the relation of the mark and
Swiss franc was an example of stable currency parities over a
long period of time.
    The spokesman said exchange rates were made by the market,
not the central bank, and it would be impossible to influence
individual parities separately.
    Leutwiler said the Swiss National Bank could not support
the value of the dollar, even in conjunction with other central
banks, without putting monetary stability in jeopardy.
    "I would be the last to recommend that. The key to a
stronger dollar lies in the United States itself," Leutwiler
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7582" NEWID="18137">
<DATE> 2-JUN-1987 12:53:18.45</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;f1874&#31;reute
r f BC-TENNECO-&lt;TGT>-UNIT-ST   06-02 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>TENNECO &lt;TGT> UNIT STARTS SERVING PPG &lt;PPG></TITLE>
<DATELINE>    HOUSTON, June 2 - </DATELINE><BODY>Tenneco Inc said its Tenngasco Corp
subsidiary has started delivering up to 40 mln cubic feet per
day of natural gas to PPG Industries Inc in Lake Charles,
Louisiana, under a 10-year firm supply contract.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7583" NEWID="18138">
<DATE> 2-JUN-1987 12:54:07.02</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1875&#31;reute
u f BC-SPECTRA-PHYSICS   06-02 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>SPECTRA-PHYSICS &lt;SPY> MULLS SALE, RESTRUCTURE</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Spectra-Physics Inc said it is
considering the possibility of recapitalizing, restructuring,
or seeking a buyer for the company following its rejection of
an unsolicitied 32 dlr a share bid from Ciba-Geigy Corp.
    In a filing with the Securities and Exchange Commission,
the San Jose, Calif., gas lasers and accessories company also
said its board Sunday agreed to a plan that gives 52 top
executives bonuses ranging from 20 to 50 pct of their base
salary if they stay with the company through August 29.
    In rejecting the takeover proposal by the U.S. subsidiary
of Swiss-based Ciba-Geigy AG, the company said it was unfair.
    The Spectra-Physics board voted unanimously, with two
Ciba-Geigy representatives not participating, to reject the
Swiss-based chemical and pharmaceutical company's takeover bid,
citing an opinion from its financial advsior, Morgan Stanley
and Co Inc, that it is "inadequate and unfair from a financial
point of view to the holders of shares," the company said.
    The board also authorized a special committee and Morgan
Stanley to "vigorously investigate, pursue and authorize any
alternatives which would maximize the value of shareholders'
investment in the company," the company said.
    Among the alternatives the special committee will consider
are a sale of the company to a third party for more than 32
dlrs a share, a recapitalization or restructuring, including
self tender offers and/or asset dispositions through the use of
dividends, Spectra-Physics said.
    The "retention plan" for the 52 top officers will pay an
average bonus percentage of 28 pct of salary, it said.
    Spectra-Physics said its board approved the plan "in order
to encourage key operating personnel to remain with the company
during the period of turmoil and uncertainty engendered by the
(Ciba-Geigy) offer."
    Under the plan, the executives would be entitled to their
cash bonuses if they stay with the company through August 29,
but could receive them earlier if they are fired for reasons
other than gross and willful misconduct, or if they leave the
company because their salaries have been sharply cut.
    Spectra-Physics also said it filed suit against Ciba-Geigy
yesterday in U.S. District Court in Wilmington, Del., charging
it with making a takeover bid that was false and misleading in
violation of securities law and with violating the intent of
July 9, 1985 standstill agreement.
    Spectra-Physics said Ciba-Geigy indicated at the time of
the standstill agreement that it would not make an unsolicited
takeover proposal for the company and that the intent of the
agreement was that Ciba-Geigy would not acquire more than 20
pct of the company unless there was another takeover threat.
    Ciba-Geigy was 18.8 pct of Spectra-Physics and Reliance
Group Holdings &lt;REL>, which is controlled by New York investor
Saul Steinberg, controls 12.8 pct.
    Spectra-Physics said the agreement prevents Ciba-Geigy from
raising its stake beyond 20 pct through Jan 1, 1992, unless
another person get more than 10 pct of its voting power.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7584" NEWID="18139">
<DATE> 2-JUN-1987 12:55:24.28</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;f1878&#31;reute
r f BC-MAGMA-&lt;MGMA.O>-ENDS-T   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>MAGMA &lt;MGMA.O> ENDS TALKS WITH SOCAL EDISON&lt;SCE></TITLE>
<DATELINE>    SAN DIEGO, June 2 - </DATELINE><BODY>Magma Power Co said it has discontinued
talks on joint ownership of its new Niland geothermal power
plants in the Imperial Valley of California with Southern
California Edison Co.
    The company said it has retained J.P. Morgan and Co &lt;JPM>
to act as financial advisor in arranging equity and debt
financing for its new geothermal plants in the Imperial Valley.
    It said the moves should bring significant financial
benefits to shareholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7585" NEWID="18140">
<DATE> 2-JUN-1987 12:57:55.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1886&#31;reute
r f BC-KROGER-&lt;KR>-SAYS-UNIO   06-02 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>KROGER &lt;KR> SAYS UNION REJECTS CONTRACT</TITLE>
<DATELINE>    DENVER, June 2 - </DATELINE><BODY>Kroger Co's King Soopers Supermarkets unit
said employees, members of the United Food and Commercial
Workers Union, rejected its latest contract proposal by a 58
pct to 42 pct margin.
    The company said employees have been on strike since May 8,
but it has kept the stores open and fully staffed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7586" NEWID="18141">
<DATE> 2-JUN-1987 13:01:28.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1894&#31;reute
r f BC-INTEGRATED-&lt;IGN>-UNIT   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>INTEGRATED &lt;IGN> UNIT IN INITIAL OFFERING</TITLE>
<DATELINE>    BELLPORT, N.Y., June 2 - </DATELINE><BODY>Integrated Generics Inc said its
ANDA Development Corp subsidiary filed with the Securities and
Exchange Commission for an initial offering of 600,000 units,
with each consisting of one share of common stock and one
common purchase warrant.
    The company said the units will be offered on a "best
efforts" all or none basis by S.J. Bayern and Co Inc and R.F.
Lafferty and Co Inc.
    It said each unit is expected to be offered at five dlrs.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7587" NEWID="18142">
<DATE> 2-JUN-1987 13:04:50.80</DATE>
<TOPICS><D>money-fx</D><D>interest</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1913&#31;reute
b f BC-/VOLCKER-DEPARTURE-RE   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER DEPARTURE REVIVES DLR, INFLATION FEARS</TITLE>
<AUTHOR>    by Jeremy Solomons, Reuters</AUTHOR>
<DATELINE>    New York, June 2 - </DATELINE><BODY>Paul Volcker's decision not to go for a
third term as Federal Reserve Chairman and the nomination of
Alan Greenspan to replace him have revived deep concerns about
the U.S.' ability to prevent a further dollar decline and stem
rising inflation, financial market analysts said.
    Although Greenspan is known as a committed anti-inflation
fighter in the Volcker mould, doubts are already surfacing in
the U.S. financial markets as to whether he has enough
political clout and monetary experience to wage a tough
campaign against inflation over the next year or two.
    "The critical issue is how (Greenspan) will deal with
inflation," said Stephen Axilrod, Vice Chairman of Nikko
Securities Co International Inc and former staff director for
monetary and financial policy at the Fed.
    "A lot of questions have been raised by Volcker's
departure. Until Greenspan answers them, the markets will
remain nervous," added Stephen Slifer, money market economist
at Shearson Lehman Government Securities Inc.
    This morning's announcement sent the dollar into a
tailspin, which was halted only by concerted central bank
intervention in the open currency market.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7588" NEWID="18143">
<DATE> 2-JUN-1987 13:08:01.87</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;f1932&#31;reute
r f BC-AIR-CANADA-POSTS-TURN   06-02 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>AIR CANADA POSTS TURNAROUND IN FIRST QUARTER</TITLE>
<DATELINE>    MONTREAL, June 2 - </DATELINE><BODY>Air Canada, owned by the Canadian
Government, said it recorded a net profit of 16.3 mln dlrs in
the first quarter compared to a 36.3 mln dlr loss in the first
quarter last year.
    The company said the turnaround was due to improved
passenger yields, reduced unit costs, and good control over
capacity levels.
    It said overall operating revenue rose eight pct compared
to the year earlier level while total passenger revenue rose by
nine pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7589" NEWID="18144">
<DATE> 2-JUN-1987 13:09:01.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F RM
&#22;&#22;&#1;f1935&#31;reute
u f BC-ROYAL-BANK-(RY.TO)-RE   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ROYAL BANK (RY.TO) RECLASSIFIES BRAZIL LOANS</TITLE>
<DATELINE>    MONTREAL, June 2 - </DATELINE><BODY>Royal Bank of Canada said it classified
1.3 billion dlrs in medium and long-term loans to Brazil as
non-accrual, leading to a seven pct drop in second quarter
profit.
    "The designation of these loans as non-accrual reduced the
bank's earnings by about 22 mln dlrs after tax," chairman Allan
Taylor said in a statement. "Without this reduction,
second-quarter earnings would have been about 138 mln dlrs," a
10 pct increase over last year's profit, Taylor said.
    The bank earlier reported second quarter profit fell to
116.2 mln dlrs from 125.1 mln dlrs a year ago.
    The bank said domestic earnings rose to a record 125 mln
dlrs in the second quarter, a 52 mln dlr increase from the year
before, due to higher business volumes and securities gains as
well as a better yield from its domestic non-accrual loan
portfolio.
    It said international operations reported a net after-tax
loss of nine mln dlrs, compared with a 52 mln dlr profit last
year. The decline largely reflects the impact of Brazil's
suspended interest payments, which resulted in about a 40 mln
dlr reduction in net interest income, Royal Bank said.
    Royal Bank said it keeping its 1987 loan loss experience
estimate unchanged from the last quarter at one billion dlrs.
It said it is committed to building its general provision for
loan losses to at least 20 pct of total outstanding loans to
troubled sovereign borrowers by the end of 1989.
    The bank said non-accrual loans totalled 3.3 billion dlrs
at April 30--1.5 billion in domestic loans and 1.8 billion in
international loans. Excluding the 1.3 billion dlrs in loans to
Brazil, net non-accrual loans at the end of the second quarter
declined 200 mln dlrs over the 1987 first quarter, it said.


&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7590" NEWID="18145">
<DATE>  2-JUN-1987 13:10:10.20</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1938&#31;reute
r f BC-ATLANTIC-RICHFIELD-&lt;A   06-02 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>ATLANTIC RICHFIELD &lt;ARC> UNIT BUYS TECHNOLOGY</TITLE>
<DATELINE>    PHILADELPHIA, June 2 - </DATELINE><BODY>Atlantic Richfield Co said it has
acquired exclusive worldwide rights to the methyl methacrylate
technology of Texas Eastern Corp's Halcon SD Group affiliate
for undisclosed terms.
    The company said the technology will allow it to introduce
a cleaner and more efficient way of making methyl methacrylate,
a liquid monomer used to make resins for acrylic sheet,
coatings, molded parts and products and plastic impact
modifiers.
    ARCO said it is reviewing options for commercialization of
the technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7591" NEWID="18146">
<DATE> 2-JUN-1987 13:14:28.41</DATE>
<TOPICS><D>gas</D><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1956&#31;reute
r f BC-SMALL-RISE-SEEN-IN-U.   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SMALL RISE SEEN IN U.S. GASOLINE INVENTORIES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>U.S. analysts expect the American
Petroleum Institute's weekly report on oil inventories to show
a slight build in U.S. stocks of gasoline for the week ended
May 29, oil traders and analysts said.
    While the consensus is for an increase, a few would not
rule out the possibility of an decline. Traders said that
barring any surprises in tonight's report, they expect the
report to be neutral to bearish for oil prices.
    Heating oil stocks are also likely to build and runs to be
steady to slightly higher, which could add pressure on oil
prices, the analysts said.
    Crude oil was seen likely to build assuming imports
continue at relatively high levels.
    Analysts expect gasoline stocks to rise 500,000 to two mln
barrels above the 234 mln reported for May 22.
    Peter Beutel, oil analyst with Elders Futures inc, who
looks for a build said, "We have had five weeks of gasoline
demand at 7.3 mln bpd or more and it is likely to taper off to
between 6.7-7.0 mln bpd, which should make stocks build. Demand
would have to stay above 7.0 mln bpd to have a draw," he added.
    Rising demand is why oil traders and analysts expect a draw
in stocks of about of about one mln barrels.
   
    The U.S. Energy Information Administration in its latest
report for the four weeks ending may 22 said that gasoline
demand was up 4.4 pct to 7.3 mln bpd from the previous year.
    But analysts said hopes of reduced stocks is likely to
founder on increased runs in refineries, which could be up 0.3
pct above May 22's 81.2 pct capacity operated.
    Such an increase would raise runs about 100,000 bpd and add
to U.S. stocks.
    But some analysts said that refiners may have held refinery
runs.
    Heating oil stocks were also expected to build between
700,000 barrels and one mln from the 96 mln barrel level
reported last week, but a rise in distillate stocks was
discounted as having a market impact at this time.
    "A build is seasonal now and not out of line with last year,"
one futures analyst said.
    Analysts said they also expect crude oil stocks to build
between 1.5 mln barrels and three mln from the 325 mln barrels
reported by API for the week of may 22.
    The consensus appears for about two mln barrels to be added
to the nation's inventory.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7592" NEWID="18147">
<DATE> 2-JUN-1987 13:14:37.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1957&#31;reute
r f BC-(PIPER-AIRCRAFT)-RESU   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>(PIPER AIRCRAFT) RESUMES OUTPUT OF SOME MODELS</TITLE>
<DATELINE>    VERO BEACH, Fla., June 2 - </DATELINE><BODY>Privately-held Piper Aircraft
Corp said it has decided to resume production of some Piper
models that had faced suspension as soon as existing orders
were filled.
    The company said the decision to resume production
reflected improved demand for Piper products mainly due to
currency factors and reduced inventories.
    It said it will immediately resume production of the
PA-28-161 Warrior, PA-28-181 Archer, PA-28R Arrow, PA-28-236
Dakota, PA-32 and PA-32R Saratoga and Pa-34 Seneca in numbers
depending on market demand.
   
    The company said it will continue to make the PA-46 Mailbu
and resume production of the Cheyenne IIIA and Pa-42-400
Cheyenne late this year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7593" NEWID="18148">
<DATE> 2-JUN-1987 13:16:02.06</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>italy</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1965&#31;reute
r f BC-SHULTZ-WELCOMES-TOKYO   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>SHULTZ WELCOMES TOKYO ECONOMIC PACKAGE</TITLE>
<DATELINE>    ROME, June 2 - </DATELINE><BODY>U.S. Secretary of State George Shultz said
the 6,000 billion yen economic package announced by Tokyo last
week went further than the U.S. Had expected.
    But he said the U.S. Would not lift the selective economic
sanctions it imposed on Japanese imports in April until Tokyo
changed its sales policies concerning computer microchips.
    Speaking in a televised news conference linking several
European capitals, Shultz said it was heartening that the
Japanese had confronted the problem of stimulating domestic and
global demand.

    "There is an even greater amount of stimulus than was
originally thought," said Shultz, speaking from Washington.
    "It is a lot more than nothing. It is more than was talked
about when (Prime Minister Yasuhiro) Nakasone was here.
    "It involves a major reduction in tax rates and we believe
that getting the tax burden down is one way of stimulating the
economy," he added.
    But asked by Japanese reporters, also linked into the news
conference, whether the positive reaction meant the U.S. Might
decide at next week's Venice summit to lift its sanctions on
some Japanese electronic goods, Shultz replied:
    "These sanctions were undertaken on the basis of an
agreement that had been reached between the United States and
Japan on various sale practices and prices relating to the chip
market.
    "They will be lifted as the facts of change by Japan to the
agreement that it made become evident."
    He said U.S. Officials had only been able to monitor the
situation for a month and that it was impossible to determine a
trend on only one month's data.
    The U.S. Imposed 100 pct import duties on personal
computers, colour televisions and power tools, alleging that
Japan had violated last September's bilateral agreement by
selling computer chips at below fair market value.
    Shultz said West Germany and other nations would also do
well to look at what they could do to stimulate demand.
    Asked whether the U.S. Could reasonably ask its allies to
take action to stimulate the world economy without a bold
American initiative to reduce the size of the federal budget
deficit, Shultz said moves were already underway to tackle the
problem.
    He said by the end of the current fiscal year the deficit
would probably be reduced by around 35 billion dlrs against
last year, and that the budget being worked on this year would
contain a major reduction.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7594" NEWID="18149">
<DATE> 2-JUN-1987 13:22:34.96</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;f1990&#31;reute
r f BC-CHAMPION-HOME-&lt;CHB>-S   06-02 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>CHAMPION HOME &lt;CHB> SELLS TWO PROPERTIES</TITLE>
<DATELINE>    DRYDEN, Mich., June 2 - </DATELINE><BODY>Champion Home Builders Inc said it
sold the Commerce Meadows 600-site manufactured housing rental
community in Commerce Township, Michigan, for a pre-tax gain of
about 900,000 dlrs and the Heron Cay 610-site adult community
in Vero Beach, Florida, for a nominal pre-tax gain.
    The company said the sales proceeds will be partly used to
reduce debt. It said it is shifting its focus away from the
development of communities requiring significant equity and
having lengthy projected life cycles.
    The company also said along with local landowners and
investors, it will acquire 33-acre tract Northtowne Meadows in
the Toledo, Ohio, area for development into 160 home sites and
three acres of commercial land.
    Terms of the transactions and other parties involved were
not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7595" NEWID="18150">
<DATE> 2-JUN-1987 13:24:15.44</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1993&#31;reute
r f BC-ACP-STATES-SAY-EC-OIL   06-02 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>ACP STATES SAY EC OILS TAX PLAN BREAKS ACCORDS</TITLE>
<DATELINE>    BRUSSELS, June 2 - </DATELINE><BODY>Developing countries said the European
Community (EC) would breach two international agreements if it
went ahead with its plans for an oils and fats tax.
    Ambassadors to the EC from African, Caribbean and Pacific
(ACP) states told a press conference the tax would hit the
exports of 26 ACP countries.
    They said the EC failed to follow consultation procedures
laid down in the Lome Convention which regulates relations
between ACP states and the bloc for moves which could affect
trade between the two sides.
    They also said the EC would be in breach of an undertaking
not to bring in new protectionist measures during the current
Punta del Este round of world trade negotiations being held
under GATT (General Agreement on Tariffs and Trade) auspices.
    The EC Commission has proposed a tax of up to 330 European
currency units (Ecus) a tonne on both imported and EC-produced
vegetable and marine fats for human consumption, which could
raise up to two billion Ecus a year.
    EC farm ministers, who would have to approve such a tax,
are split on the issue and are expected to decide it at a
marathon meeting on EC farm prices beginning in Luxembourg on
June 15.
    Jamaican ambassador Leslie Wilson said ACP countries are
convinced this would lead to EC industry substituting products
made within the bloc for oil and fat imports. The ACP estimates
this would result in a fall of 160 to 185 mln Ecus in its
member country exports.
    "We can't believe the EC would willingly take measures to
undermine our countries, but such would be the impact of these
measures," Wilson said.
    The U.S. and Malaysia say their exports would also be hit
by the proposed tax and they may take retaliatory action if it
is approved.
    Wilson said the ACP would take such steps only "as a very
last resort," but added that the ACP is in touch with other
countries which oppose the plan.
    Wilson, who was chairing the news conference, made it clear
Jamaica itself would not be hit by the tax as it does not
export oils and fats.
    Among the worst hit countries would be Ivory Coast,
Senegal, Nigeria and Papua New Guinea, the ACP says.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7596" NEWID="18151">
<DATE> 2-JUN-1987 13:24:42.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1995&#31;reute
d f BC-SALOMON-&lt;SB>-ANNOUNCE   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON &lt;SB> ANNOUNCES GLOBAL STOCK INDEXES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Salomon Brothers Inc announced formation
of global stock indexes designed to make it easy for portfolio
money managers to invest all over the world.
    "This is a way to put money into the Pacific or Europe
quickly," Laszlo Birinyi, Salomon vice president Laszlo Birinyi
told a news conference.
    The stock index products were developed in cooperation with
the Frank Russell Co, a pension fund consulting firm.
    Birinyi said he would not be surprised if exchanges create
futures and options on the indexes. "Somebody will - If they
don't, we will," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7597" NEWID="18152">
<DATE> 2-JUN-1987 13:26:52.87</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;f2004&#31;reute
u f BC-BURLINGTON-COAT-FACTO   06-02 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>BURLINGTON COAT FACTORY &lt;BCF> 2ND QTR NET</TITLE>
<DATELINE>    BURLINGTON, N.J., June 2 - </DATELINE><BODY>quarter ended May 2
    Shr 20 cts vs 17 cts
    Net 2,319,000 vs 1,950,000
    Sales 92.4 mln vs 72.2 mln
    Six mths
    Shr 1.60 dlrs vs 1.27 dlrs
    Net 18.7 mln vs 14.8 mln
    Sales 285.9 mln vs 227.1 mln
    NOTE: Full name is Burlington Coat Factory Warehouse Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7598" NEWID="18153">
<DATE> 2-JUN-1987 13:28:54.97</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;f2010&#31;reute
r f BC-VALLEY-CAPITAL-&lt;VCCN.   06-02 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>VALLEY CAPITAL &lt;VCCN.O> IN NASDAQ EXPANSION</TITLE>
<DATELINE>    LAS VEGAS, June 2 - </DATELINE><BODY>Valley Capital Corp said its common
stock has been listed on NASDAQ's National Market System,
effective today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7599" NEWID="18154">
<DATE> 2-JUN-1987 13:30:39.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2012&#31;reute
u f BC-GERMAN-OFFICIALS-HAVE   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN OFFICIALS HAVE NO COMMENT ON BAKER REMARK</TITLE>
<DATELINE>    BONN, June 2 - </DATELINE><BODY>West German officials said they could make
no comment on remarks by U.S. Treasury Secretary James Baker
who said Group of Seven (G-7) finance ministers had agreed a
new process for economic coordination.
    At last year's G-7 summit in Tokyo, senior government
officials were requested to make a study of how economic data
could be better coordinated and the results of their work will
be presented at next week's summit in Venice.
    West Germany has said governments should not be obliged to
take economic steps purely in reaction to economic data.
    The U.S. Position on data coordination has been that
governments should react accordingly when economic indicators
fall short of expectations.
    The West German stance on coordination of data, which has
also been shared by the British government, has been a
potential threat to a joint stance by the G-7 on this topic.
    At a news conference in Washington, Baker would not be
specific about what agreement had been reached on data
coordination by the seven finance ministers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7600" NEWID="18155">
<DATE> 2-JUN-1987 13:33:36.71</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;f2030&#31;reute
r f BC-CML-GROUP-INC-&lt;CMLI.O   06-02 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>CML GROUP INC &lt;CMLI.O> 3RD QTR NET</TITLE>
<DATELINE>    ACTON, Mass., June 2 - </DATELINE><BODY>qtr ended May 2
    Shr 29 cts vs 22 cts
    Net 1,975,000 vs 1,403,000
    Revs 68.1 mln vs 54.0 mln
    Avg shrs 6,722,527 vs 6,597,492
    Nine mths
    Shr 1.17 dlrs vs 92 cts
    Net 7,847,000 vs 6,017,000
    Revs 209.7 mln vs 175.7 mln
    Avg shrs 6,687,138 vs 6,549,197
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7601" NEWID="18156">
<DATE> 2-JUN-1987 13:34:55.55</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;f2033&#31;reute
u f BC-STERLING-BANCORP-&lt;STL   06-02 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>STERLING BANCORP &lt;STL>HAS NO COMMENT ON ACTIVITY</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>The New York Stock Exchange said
Sterling Bancorp declined to comment on whether there are any
corporate developments that would explain the unusual activity
in its stock.
    Sterling, whose stock is up 3/8 at 14-7/8, said its policy
is not to comment on unusual market activity or rumors, the
Exchange said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7602" NEWID="18157">
<DATE> 2-JUN-1987 13:35:11.68</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2035&#31;reute
r f BC-BALL-CORP-&lt;BLL>-COMPL   06-02 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>BALL CORP &lt;BLL> COMPLETES ACQUISITION OF VERAC</TITLE>
<DATELINE>    MUNCIE, Ind., June 2 - </DATELINE><BODY>Ball Corp said it completed the
acquisition of privately held Verac Inc.
    Terms were not disclosed.
    The company said the San Diego-based defense systems and
software development company had sales of about 23 mln dlrs in
1986 and will operate as part of Ball's technical products
group.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7603" NEWID="18158">
<DATE> 2-JUN-1987 13:35:59.82</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2038&#31;reute
d f BC-NODAWAY-VALLEY-CO-&lt;NV   06-02 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>NODAWAY VALLEY CO &lt;NVCO.O> 1ST QTR NET</TITLE>
<DATELINE>    CLARINDA, Iowa, June 2 - </DATELINE><BODY>qtr ended April 30
    Shr seven cts vs 10 cts
    Net 158,294 vs 234,829
    Revs 8,727,242 vs 8,152,478
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7604" NEWID="18159">
<DATE> 2-JUN-1987 13:36:37.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2040&#31;reute
u f BC-UAW-CHIEF-DISPLEASED   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>UAW CHIEF DISPLEASED WITH GREENSPAN APPOINTMENT</TITLE>
<DATELINE>    DETROIT, June 2 - </DATELINE><BODY>United Automobile Workers union president
Owen Bieber said he was pleased Paul Volcker is leaving as
chairman of the Federal Reserve Board but not encouraged at
Alan Greenspan's nomination to succeed him.
    "When you say Greenspan in now in view, that troubles me,"
the UAW leader told reporters at a news conference.
    Bieber, whose union has 1.1 mln members, said that with
Greenspan heading the Fed, "I'm afraid it means a continuation
of the same policies we've been on, which I don't think are the
right policies."
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7605" NEWID="18160">
<DATE> 2-JUN-1987 13:38:57.39</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A Y RM
&#22;&#22;&#1;f2045&#31;reute
r f AM-GULF-AMERICAN   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>NEED FOR BIGGER ALLIED FORCE IN GULF PLAYED DOWN</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Secretary of State George Shultz said
today that a boost in allied forces in the Mideast Gulf was not
vital to protect shipping against attack but that possible
allied contributions should be examined.
    Asked if he saw the need for a greater military presence by
the allies in the gulf, Shultz told reporters, "Not necessarily,
particularly, so."
    But he said an adequate force was needed to deter attack
and noted that the British and the French, as well as the
United States, maintained naval contingents there.
    "We have to look at things that others might do," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7606" NEWID="18161">
<DATE> 2-JUN-1987 13:39:56.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2051&#31;reute
r f BC-KEMP-PRAISES-GREENSPA   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>KEMP PRAISES GREENSPAN VIEWS ON MONETARY REFORM</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Rep. Jack Kemp, a conservative
Republican from New York, praised Federal Reserve Board
chairman-designate Alan Greenspan's calls for international
monetary reform.
    "Alan Greenspan has called for a fundamental reform of the
international monetary system, which is long overdue. The
challenge facing Mr Greenspan is to combine a commitment to
monetary reform with a policy for economic growth," Kemp said in
a statement.
    However, Kemp said he was disappointed Fed vice-chairman
Manuel Johnson was not to succeed Fed chief Paul Volcker.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7607" NEWID="18162">
<DATE> 2-JUN-1987 13:41:08.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2054&#31;reute
r f BC-CHICAGO-PACIFIC-&lt;CPAC   06-02 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICAGO PACIFIC &lt;CPAC.O> SHOWS CONFIDENCE</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Chicago Pacific Corp said it could
achieve the 1987 estimates of some analysts for a sharp
increase in sales and in fully diluted per share earnings
before extraordinary items in 1987.
    The company said the estimates ranged from 3.10 dlrs to
3.40 dlrs per share and sales of more than 1.35 billion dlrs.
    It earned 2.30 dlrs per share in 1986 on sales of 954.9 mln
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7608" NEWID="18163">
<DATE> 2-JUN-1987 13:41:39.15</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;f2057&#31;reute
u f BC-BALLADUR-UNDECIDED-ON   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLADUR UNDECIDED ON FUTURE, SPOKESMAN SAYS</TITLE>
<DATELINE>    PARIS, June 2 - </DATELINE><BODY>Finance Minister Edouard Balladur is
undecided over his future in office after next Spring's
presidential election, his spokesman said.
    "He (Balladur) has taken no definitive decision about his
activities in a year's time," his spokesman said in answer to a
Reuters question.
    He was responding to questions on a comment made by
Balladur, a close political associate of right wing Prime
Minister Jacques Chirac, in a radio interview.
    Balladur told a Radio Monte Carlo interviewer "From next
year I shall rediscover the freedom of private life."
    France is due to hold a presidential election in April or
May next year. Under the French political system, the prime
minister and his cabinet tender their resignation to the
incoming President, giving him freedom to appoint a new
government.
    Chirac, leader of a two-party coalition government is
widely assumed to be a presidential candidate, while incumbent
Socialist President Francois Mitterrand is tipped by most
opinion polls to win if he decides to stand again.
    Balladur's stringent economic policies have come under
increasing criticism inside and outside the coalition parties
in recent months as official statistics and forecasts have
shown slowing growth prospects and rising inflation.
    But the spokesman said Balladur was having no second
thoughts about the direction of his policies. "The Minister of
State (Balladur) has one current ambition, which is to achieve
his mission of national economic recovery," he said.
    "He refuses to prejudge the future a year from now."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7609" NEWID="18164">
<DATE> 2-JUN-1987 13:49:18.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2080&#31;reute
s f BC-TELERATE-INC-&lt;TLR>-SE   06-02 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>TELERATE INC &lt;TLR> SETS QUARTERLY</TITLE>
<DATELINE>    NEW YORK, June 2 -
    </DATELINE><BODY>Qtly div 12 cts vs 12 cts prior
    Pay June 26
    Record June Five
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7610" NEWID="18165">
<DATE> 2-JUN-1987 13:49:25.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2081&#31;reute
s f BC-ZAYRE-CORP-&lt;ZY>-SETS   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>ZAYRE CORP &lt;ZY> SETS REGULAR PAYOUT</TITLE>
<DATELINE>    FRAMINGHAM, Mass., June 2 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay September three
    Record August 13
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7611" NEWID="18166">
<DATE> 2-JUN-1987 13:49:34.99</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;f2082&#31;reute
d f BC-GAMMA-BIOLOGICALS-INC   06-02 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>GAMMA BIOLOGICALS INC &lt;GAMA.O> 4TH QTR MARCH 31</TITLE>
<DATELINE>    HOUSTON, June 2 -
    </DATELINE><BODY>Shr profit four cts vs loss 47 cts
    Net profit 209,000 vs loss 2,164,000
    Sales 4,849,000 vs 3,682,000
    Year
    Shr loss 10 cts vs loss 52 cts
    Net loss 451,000 vs loss 2,378,000
    Sales 18.0 mln vs 15.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7612" NEWID="18167">
<DATE> 2-JUN-1987 13:49:43.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2083&#31;reute
b f BC-/GREENSPAN-SEEN-AS-ST   06-02 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>GREENSPAN SEEN AS STRONG INFLATION FIGHTER</TITLE>
<AUTHOR>    By Donna Smith, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Alan Greenspan, who has been nominated
to replace Paul Volcker as Chairman of the Federal Reserve
Board, is regarded by financial analysts as a conservative
economist who will take a strong stand against inflation.
    "He'll be a strong fighter against inflation," said Martin
Regalia, director of research and economics at the National
Council of Savings Institutions.
    Greenspan has broad experience both in running his own
private economic consulting firm - Townsend-Greenspan - and in
government service. He was President Ford's top economic
adviser, serving as chairman of the Council of Economic
Advisers from September 1974 until January 1977.
    During that time, inflation rising above 10 percent, a was
a major political concern during Ford's administration.
    "He's had a lot of experience with inflation, and as an
inflation fighter," Richard Medley, partner with Smick-Medley
and Associates, said of Greenspan. "He had that seared into his
memory during that period," Medley added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7613" NEWID="18168">
<DATE> 2-JUN-1987 13:50:06.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2086&#31;reute
d f BC-PUTNAM-LAUNHCES-NEW-G   06-02 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>PUTNAM LAUNHCES NEW GLOBAL INCOME FUND</TITLE>
<DATELINE>    BOSTON, June 2 - </DATELINE><BODY>Putnam Financial Services Inc said its
newest fund offering, Putnam Global Governmental Income Trust,
is among the few global funds with an investment objective of
high current income through a portfolio of mainly government
bonds.
    Putnam claimed the trust allows investor money to go where
the best yields are found worldwide, yet investors still have
the assurance of governmental obligations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7614" NEWID="18169">
<DATE> 2-JUN-1987 13:50:15.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2087&#31;reute
d f BC-INTELLIGENT-&lt;INP>-UNI   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>INTELLIGENT &lt;INP> UNIT INTRODUCES FAX PRODUCTS</TITLE>
<DATELINE>    ATLANTA, June 2 - </DATELINE><BODY>Intelligent Systems Corp's Asher
Technologies Inc said it introduced two facsimile products, a
portable unit and an internal card for IBM personal computers
and compatibles.
    The JT facsimile products are designed for use with the IBM
PC, XT, AT, or compatibles to send or receive group III
transmissioins, the company said.
    Asher said the new products eliminate printing out hard
copies and manually sending each sheet to be transmitted.
    The internal unit retails for 395 dlrs, while the portable
unit sells for 495 dlrs, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7615" NEWID="18170">
<DATE> 2-JUN-1987 13:50:21.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2088&#31;reute
d f BC-BARNES-&lt;B>-UNIT-TO-CO   06-02 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>BARNES &lt;B> UNIT TO CONSTRUCT NEW PLANT</TITLE>
<DATELINE>    BRISTOL, Conn., June 2 - </DATELINE><BODY>Barnes Group Inc said it will
build a new 3.7 mn dlrs manufacturing plant in Saline, Mich.,
to house its Associated Spriung unit's high-tech valve and
torque converter clutch spring operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7616" NEWID="18171">
<DATE> 2-JUN-1987 13:50:26.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2089&#31;reute
d f BC-NEOTECH,-TEXAS-INSTRU   06-02 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>NEOTECH, TEXAS INSTRUMENTS &lt;TXN> IN VENTURE</TITLE>
<DATELINE>    DALLAS, June 2 - </DATELINE><BODY>Neotech Industries Inc said it has formed
a joint venture with Texas Instruments Inc to develop low-cost
digital pressure measurement technologies.
    The company said Texas Instruments will be cooperating with
it on the development of application-specific integrated
circuits for use in Neotech pressure measurement devices that
are to be made in Britain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7617" NEWID="18172">
<DATE> 2-JUN-1987 13:50:34.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2090&#31;reute
d f BC-AMERICAN-STORES-&lt;ASC>   06-02 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN STORES &lt;ASC> UNIT ELECTS NEW CHAIRMAN </TITLE>
<DATELINE>    WILMINGTON, Del., June 2 - </DATELINE><BODY>American Superstores Inc, a unit
of American Stores Co &lt;ASC>, said it elected Jonathan Scott as
chairman of the board and chief executive officer effective
immediately.
    Scott replaces Thomas Sunday, former chairman, who passed
away May 25, the compnay said.
    The food retailer chain said previously Scott served as
vice chairman and chief executive officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7618" NEWID="18173">
<DATE> 2-JUN-1987 13:50:47.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2091&#31;reute
d f BC-ATT-&lt;T>-INTRODUCES-OV   06-02 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>ATT &lt;T> INTRODUCES OVERVIEW SCANNER</TITLE>
<DATELINE>    ATLANTA, June 2 - </DATELINE><BODY>American Telephone and Telegraph Co said
it introduced its Overview Scanner that works in conjunction
with a personal computer.
    The company said the Overview Scanner lends itself to
meeting environments where discussions call for the graphic to
be pointed to or annotated.
    The system works with any ATT PC 6300 series or
MS-DOS-compatible personal computer, the company said.
    The company said customers who have a personal computer
could augment the system with the scanner for about 3,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7619" NEWID="18174">
<DATE> 2-JUN-1987 13:50:53.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2092&#31;reute
d f BC-BORMON-IN-FINAL-PHASE   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>BORMON IN FINAL PHASE OF BUILDING TRANSPORT</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Bromon Aircraft Co, which is privately
held, said it is in the final design phase of a twin turboprop,
and is scheduled to complete production of three prototype
aircraft in the fall of 1988.
    It also said it expects certification by the Federal
Aviation Administration in 1988.
    The turboprop, the BR-2000, can carry up to 46 passengers
or up to six tons of cargo, according to the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7620" NEWID="18175">
<DATE> 2-JUN-1987 13:51:03.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2093&#31;reute
d f BC-ELECTROSOUND-&lt;ESG>-SA   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>ELECTROSOUND &lt;ESG> SAYS OFFICIAL HAS RESIGNED</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., June 2 - </DATELINE><BODY>ElectroSound Group Inc said
Richard Meixner has resigned as senior vice president of the
company.
    The company said they expect the board to appoint Robert
Barone, presently president of Electro Sound Inc, a unit of
ElectroSound Group, as vice president of operations for
ElectroSound Group.
    ElectroSound said Meixner left the company to explore
opportunities with a private company in the recorded music
industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7621" NEWID="18176">
<DATE> 2-JUN-1987 13:51:34.43</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;f2095&#31;reute
d f BC-SKYLINE-&lt;SKX.V>-EXPEC   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SKYLINE &lt;SKX.V> EXPECTS TO BEGIN MINE IN JULY</TITLE>
<DATELINE>    VANCOUVER, June 2 - </DATELINE><BODY>Skyline Explorations Ltd said expects
construction can begin next month on a gold mine at Johnny
Mountain Camp, located 600 miles north of Vancouver.
    The company said a contract has been let for a 200 to 400
tons per day mill and the company is receiving cooperation from
provincial and federal agencies on its stage one report,
"approval in principal," which is required before actual
construction can begin.
    Skyline said it is optimistic the approval in principal
will be received in late June, by which time it expects to have
confirmed threshold tonnage and grade targets so construction
can begin in July.
   
    Skyline said the 1987 exploration drift on 16 vien east at
Johnny Mountain has advanced 320 feet. The vein is continuous,
averaging four feet thick plus an altered mineralized hanging
wall.
    It said periodic face samples indicate an average grade of
1.05 ounces per ton of ore ranging from a low of 0.78 ounce per
ton to a high of 55.8 ounces per ton.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7622" NEWID="18177">
<DATE> 2-JUN-1987 13:54:47.66</DATE>
<TOPICS><D>oilseed</D><D>soybean</D><D>soy-meal</D><D>meal-feed</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2100&#31;reute
u f BC-/SOYCOMPLEX-COULD-RAL   06-02 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>SOYCOMPLEX COULD RALLY ON TIGHT U.S. FEED SUPPLY</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Nearby months in soybean and soymeal
futures could post a short-term rally on tightening supply of
livestock feed, even if favorable growing conditions keep the
new crop outlook bearish, traders said.
    "A lot of soymeal dealers are just getting very worried
about where processors will get their soybeans this Summer,"
one Illinois soyproduct dealer said.
    Processors are competing vigorously with river dealers for
the few soybeans being offered by country elevators, with a
Decatur, Illinois processor raising its spot soybean basis bid
another two cents today to 10 over July futures.
    Farmer marketings of old crop soybeans continue very light,
with flat prices apparently well below levels they are willing
to sell, dealers said.
    Some terminal elevator operators are coming to the belief
that even if futures rally back to last month's highs, country
movement may remain light because farmers in many areas are
sold out of old crop soybeans, particularly in the eastern half
of the Midwest.
    Soybean processors will continue to take seasonal downtime
for maintenance if soybeans remain difficult to buy, reducing
the weekly soybean crush rate still further and keeping the
spot soymeal basis strong, dealers said.
    Futures traders said tight cash supplies should help July
soybeans and soymeal gain on deferreds. July soymeal has
already moved to a premium over the August through October
months and old crop July/new crop November soybeans may also
move to a July premium later this month, they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7623" NEWID="18178">
<DATE> 2-JUN-1987 13:55:23.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2104&#31;reute
d f BC-MANOR-&lt;MNR>-UNIT-GETS   06-02 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>MANOR &lt;MNR> UNIT GETS RECORD FRANCHISE BIDS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Manor Care Inc's Quality Inn
International said it received more franchise applications in
May than in any month in the chain's history.
    Quality said it received 51 applications for the month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7624" NEWID="18179">
<DATE> 2-JUN-1987 13:56:14.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2106&#31;reute
r f BC-ROBINSON-NUGENT-&lt;RNIC   06-02 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>ROBINSON NUGENT &lt;RNIC.O> PLANT HAS FIRE</TITLE>
<DATELINE>    NEW ALBANY, Ind., June 2 - </DATELINE><BODY>Robinson Nugent Inc said a fire
that started in the electroplating operation damaged its
Delemont, Switzerland, plant.
    The company said cleanup operations are in progress and it
will serve customer requirments from other plants during the
period of cleanup and equipment repair or replacement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7625" NEWID="18180">
<DATE> 2-JUN-1987 13:56:20.40</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;f2107&#31;reute
r f BC-LONDON-HOUSE-INC-&lt;LON   06-02 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>LONDON HOUSE INC &lt;LOND.O> YEAR APRIL 30 NET</TITLE>
<DATELINE>    PARK RIDGE, ILL., June 2 - 
    </DATELINE><BODY>Shr 33 cts vs 26 cts
    Net 489,351 vs 430,143
    Revs 6,961,091 vs 6,009,026
    Avg shrs 1.5 mln vs 1.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7626" NEWID="18181">
<DATE> 2-JUN-1987 13:56:59.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2109&#31;reute
r f BC-MUNSON-TRANSPORTATION   06-02 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>MUNSON TRANSPORTATION POSTPONES INITIAL OFFERING</TITLE>
<DATELINE>    MONMOUTH, Ill., June 2 - </DATELINE><BODY>Munson Transportation Inc said its
proposed initial public offering has been postponed due to a
recent weakness in the prices of comparable trucking stocks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7627" NEWID="18182">
<DATE> 2-JUN-1987 14:00:12.87</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2117&#31;reute
r f BC-DISTRIBUTED-LOGIC   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>GROUP HAS 5.2 PCT OF DISTRIBUTED LOGIC &lt;DLOG.O></TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>An investor group led by Technology
Growth Fund Ltd, an Aspen, Colo., investment firm, said it has
acquired 129,000 shares of Distributed Logic Corp, or 5.2 pct
of the total, and may try to influence the company.
    In a filing with the Securities and Exchange Commission,
the group, which also includes individual investors and a
non-profit foundation, said it bought the stake for 884,414
dlrs as an investment in the Anaheim, Calif., company.
    But it also said it is "investigating the possibility of
seeking to influence the composition of the management" of the
company and may increase its stake.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7628" NEWID="18183">
<DATE> 2-JUN-1987 14:00:27.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A F
&#22;&#22;&#1;f2118&#31;reute
u f BC-GM-&lt;GM>-PRAISES-GREEN   06-02 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> PRAISES GREENSPAN APPOINTMENT</TITLE>
<DATELINE>    DETROIT, June 2 - </DATELINE><BODY>General Motors Corp said in a corporate
statement its executives can think of "no person better
qualified" than Alan Greenspan to replace Paul Volcker as
chairman of the Federal Reserve Board.
    "Greenspan possesses great understanding of both the
American and international economies and the interaction
between them," the company said in a statement. "He also
possesses enormous good judgement."
    No other possible replacement for Paul Volcker would be
more likely to have as steadying an influence on and be as well
received by financial markets here and overseas as Alan
Greenspan, it said.
    GM also said the U.S. owes Volcker "a great debt of
gratitiude" by wringing inflation out of the U.S. economy."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7629" NEWID="18184">
<DATE> 2-JUN-1987 14:04:44.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F
&#22;&#22;&#1;f2134&#31;reute
r f BC-MOODY'S-SEES-MORE-LOS   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S SEES MORE LOSSES IN MORTGAGE INSURANCE</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Moody's Investors Service Inc said it is
likely that large underwriting losses will persist in the
mortgage insurance industry for at least the next two years.
    In its annual report on the mortgage insurance industry,
Moody's said that in 1986 incurred losses increased by 21 pct
over the dismal record posted the year before.
    Moody's said the underwriting losses mainly reflected major
economic forces, structural complications and the risk makeup
of the industry. The rating agency said that, while mortgage
insurance industry risk remains high, slow improvement appears
likely.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7630" NEWID="18185">
<DATE> 2-JUN-1987 14:07:22.17</DATE>
<TOPICS><D>interest</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>kaufman</D><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f2138&#31;reute
u f BC-/KAUFMAN-SAYS-GREENSP   06-02 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>KAUFMAN SAYS GREENSPAN NOMINATION BAD FOR BONDS</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Henry Kaufman, managing director of
Salomon Brothers Inc, said the nomination of economist Alan
Greenspan to replace Federal Reserve Board Chairman Paul
Volcker is bearish in the near term for the fixed income and
currency markets.
    "The basic direction of interest rates is not changed. The
fundamental direction of interest rates continues to be upward,
interrupted by intermittent rallies," Kaufman said in a
statement. He said the implication for equity markets in
neutral to bullish.
    Kaufman said, "Unlike Paul Volcker, who entered the office
of the Federal Reserve chairman with strong credibility both
domestically and internationally, Mr Greenspan will have to
demonstrate both his competence and policy independence before
he can gain full confidence of the financial markets."
    Greenspan is most knowledgeable on the behavior of the U.S.
economy, while his professional skills in the international
area are much more limited, Kaufman noted.
    "Consequently, although he is well known abroad, his views
on issues such as the Less Developed Country Debt may initially
carry less weight than have those of Mr Volcker."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7631" NEWID="18186">
<DATE> 2-JUN-1987 14:08:34.33</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F
&#22;&#22;&#1;f2140&#31;reute
r f BC-/MAJOR-U.S.-PIPELINE   06-02 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR U.S. PIPELINE MAY BE CLOSED SEVERAL DAYS</TITLE>
<AUTHOR>    By BERNICE NAPACH, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>The operator of a major U.S. crude oil
pipeline, shutdown because of flood damage, said it may be
several days before repairs are made and the system is
functioning again.
    Dan Stevens, manager of public and government affairs at
Texaco Inc &lt;TX>, operator of the pipeline through its
subsidiary Texaco Pipeline Co, said the company hopes repairs
will begin in about five days and expects it to take several
more days to complete.
    "At this point we are lining up what we know we need, to get
the job done," Stevens said, adding that the timing for repairs
will depend on the damage to the pipeline which is difficult to
assess because of flooding on the Red River.
    The pipeline was shipping roughly 225,000 barrels of crude
oil per day, or about 55 pct of its capacity during the 30 days
preceding its shutdown on Saturday, Stevens said.
    The pipeline was shut down from Cushing, Okla, to Witchita
Falls, Kan, on Saturday due to an undetermined leak at the Red
River crossing, near the Oklahoma/Texas border, because of
severe rains, a spokesman for Texaco said.
    Stevens said it was reasonable to suggest the pipeline
could operate at full capacity when it reopens in order to make
up for the shortfull but cautioned they will talk with
customers to determine their requirements.
    Oil analysts and traders said they were not sure if the 
shutdown will continue to raise U.S. oil prices.
    Monday, after Texaco confirmed that the pipeline had been
closed, West Texas Intermediate crude in the spot market and on
New York Mercantile Exchange's energy futures complex rose 20
cts a barrel.
    Stevens said it was reasonable to suggest the pipeline
could operate at full capacity when it reopens in order to make
up for the shortfull but cautioned they will talk with
customers to determine their requirements.
    Oil analysts and traders said they were not sure if the 
shutdown will continue to raise U.S. oil prices.
    Monday, after Texaco confirmed that the pipeline had been
closed, West Texas Intermediate crude in the spot market and on
New York Mercantile Exchange's energy futures complex rose 20
cts a barrel.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7632" NEWID="18187">
<DATE> 2-JUN-1987 14:08:59.03</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;f2141&#31;reute
r f BC-NETI-TECHNOLOGIES-&lt;NE   06-02 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>NETI TECHNOLOGIES &lt;NETFC.O> SELLS SUBSIDIARY</TITLE>
<DATELINE>    VANCOUVER, June 2 - </DATELINE><BODY>Neti Technologies Inc said it has sold
for over four mln dlrs U.S. in cash, notes and the assumption
of liabilities its Huron Leasing Inc subsidiary to a group of
investors headed by a former Huron executive.
    The company said the transaction will yield about two mln
dlrs in cash, Huron sells, leases and services computer
hardware.
    The transaction is subject to approval by the Montreal and
Vancouver Stock Exchange and the arrangement of financing by
June 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7633" NEWID="18188">
<DATE> 2-JUN-1987 14:09:08.28</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;f2142&#31;reute
r f BC-PACIFICORP-&lt;PPW>-BUYS   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFICORP &lt;PPW> BUYS BUYS COMPUTER FIRM</TITLE>
<DATELINE>    PORTLAND, June 2 - </DATELINE><BODY>PacifiCorp said it acquired Thomas
Nationwide Computer Corp for 25 mln dlrs in cash and 15 mln
dlrs in deferred consideration depending on the future
performance of the company.
    Thomas Nationwide leases and re-markets new and used
International Business Machines Corp equipment, PacifiCorp
said.
    It said Thomas Nationwide will be combined with its Systems
Leasing Corp unit in MacLean, Va.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7634" NEWID="18189">
<DATE> 2-JUN-1987 14:09:16.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2143&#31;reute
r f BC-K-TRON-&lt;KTII.O>-ELECT   06-02 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>K-TRON &lt;KTII.O> ELECTS NEW PRESIDENT</TITLE>
<DATELINE>    PITMAN, N.J., June 2 - </DATELINE><BODY>K-Tron International Inc said its
board elected John C. Tucker president, filling a position that
had been vacant since July 30, 1985.
    Tucker joined K-Tron in 1981 as vice president, chief
financial officer and treasurer. In 1986 he was promoted to
executive vice president and chief operating officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7635" NEWID="18190">
<DATE> 2-JUN-1987 14:09:34.62</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2144&#31;reute
b f BC-******FNMA-SETS-8.55   06-02 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FNMA SETS 8.55 PCT, 9.20 PCT COUPONS ON 1.5 BILLION DEBT OFFER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7636" NEWID="18191">
<DATE> 2-JUN-1987 14:09:42.51</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2145&#31;reute
r f BC-FMC-CORP-&lt;FMC>-IN-PER   06-02 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>FMC CORP &lt;FMC> IN PEROXIDE VENTURE</TITLE>
<DATELINE>    PHILADELPHIA, June 2 - </DATELINE><BODY>FMC Corp said it has entered into an
equally owned joint venture with Indo-Thai Synthetics called
Thai Peroxide Co Ltd to build a hydrogen peroxide plant with an
initial capacity of 5,000 metric tonnes of 100 pct peroxide
north of Bangkok.
    The company said the plant is expected to starft operating
by the fourth quarter of 1988.  It said the venture received
grants and incentives from the government of Thailand.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7637" NEWID="18192">
<DATE> 2-JUN-1987 14:09:48.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2146&#31;reute
r f BC-ALTERNACARE-&lt;ALTN.O>   06-02 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>ALTERNACARE &lt;ALTN.O> CHAIRMAN STEPS DOWN</TITLE>
<DATELINE>    LOS ANGELES, June 2 - </DATELINE><BODY>Alternacare Corp said Wallace Reed
has stepped down from his duties as chairman of the board and
has been named chairman emeritus.
    Reed will continue to serve on its board, Alternacare said,
adding, the company has no immediate plans to fill the
position.
    The company also said Reed was re-elected to its board
along with president and chief executive Paul Dinkel.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7638" NEWID="18193">
<DATE> 2-JUN-1987 14:11:08.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2153&#31;reute
r f BC-CONSOLIDATED-OIL-&lt;CGS   06-02 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATED OIL &lt;CGS> WARRANTS PRICE UNCHANGED</TITLE>
<DATELINE>    DENVER, June 2 - </DATELINE><BODY>Consolidated Oil and Gas Inc said the
exercise price of its Oil Indexed Common Stock Purchase
Warrants Series 1900 &lt;CGS.WS.P> will remain three dlrs a share
for the six month period July one to December 31.
    The warrant exercise price is based on the average price of
West Texas Intermediate Crude Oil reported for the trading
month of May. For the month, the average price was less than 20
dlrs per barrel, the first index point above which there would
be a change in the exercise price of the warrants.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7639" NEWID="18194">
<DATE> 2-JUN-1987 14:12:54.73</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;f2160&#31;reute
r f BC-LAC-&lt;LAC>-REAFFIRMS-F   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LAC &lt;LAC> REAFFIRMS FORECAST FOR HIGHER NET</TITLE>
<DATELINE>    TORONTO, June 2 - </DATELINE><BODY>Lac Minerals Ltd reiterated it expected
substantially higher 1987 profit and revenues than last year's
earnings of 19.1 mln dlrs on 250.2 mln dlrs of revenues.
    The 1986 results include the disputed Page-Williams mine at
Hemlo, Ontario. A decision is imminent on Lac's appeal of a
1986 Ontario court decision ordering Lac to hand over the mine
to International Corona Resources Ltd &lt;ICR.TO>.
    Lac chief executive Peter Allen told institutional
investors that the anticipated stronger performance would come
from strong operating results and an active revenue management
program.
   
    Lac said year-to-date gold production excluding the
disputed Page-Williams mine was 134,000 ounces, in line with
targeted 1987 production of 300,000 ounces. It said it expected
an average realized price of 450 U.S. dlrs an ounce in
full-year 1987.
    It said its outstanding forward contracts at May 29 were
220,000 ounces of gold at average price of 439 U.S. dlrs an
ounce, including 135,000 ounces maturing in 1987 at 482 U.S.
dlrs an ounce.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7640" NEWID="18195">
<DATE> 2-JUN-1987 14:13:38.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2164&#31;reute
d f BC-DISC-&lt;DSTC.O>-GETS-OR   06-02 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>DISC &lt;DSTC.O> GETS ORDER FROM MINISCRIBE&lt;MINY.O></TITLE>
<DATELINE>    BILLERICA, Mass., June 2 - </DATELINE><BODY>Disc Technology Corp said it has
received 1,500,000 dlrs in orders for hard discs from
MiniScribe Corp's MiniScribe Ltd Singapore affiliate.
    It said the shipments are to be completed by September 30.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7641" NEWID="18196">
<DATE> 2-JUN-1987 14:14:25.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2166&#31;reute
u f BC-HOFFMAN-LA-ROCHE,-LIL   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>HOFFMAN-LA ROCHE, LILLY &lt;LLY> IN LICENSE PACT</TITLE>
<DATELINE>    NUTLEY, N.J., June 2 - </DATELINE><BODY>Hoffmann-La Roche Inc, the licensee
of a Hormone Research Foundation patent of a synthetic version
of human growth hormone, said it entered into a license
agreement with Eli Lilly and Co involving Lilly's Humatrope
hormone used to treat dwarfism in children.
    Details of the license agreement were not disclosed and
company officials were unavailable for comment.
    A statement from the companies said, "Lilly and Roche have
entered into the license agreement as an alternative to
litigation."
    South San Francisco-based Genetech Inc &lt;GENE> also markets
a genetically engineered human growth hormone called Protropin.
Lilly received approval from the Food and Drug Administration
to market is human growth hormone earlier this year.
    A Lilly spokesperson said the company has in effect
licensed the patent for the hormone through Hoffman-LaRoche.
She refused to comment on the terms of the license agreement.
    Last September, Hoffman-LaRoche and the Foundation sued
Genetech in a Federal court in California alleging its product
infringed on Hoffman's patent for the synthetic hormone.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7642" NEWID="18197">
<DATE> 2-JUN-1987 14:15:43.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2173&#31;reute
r f BC-UNITED-SERVICES-&lt;USVS   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED SERVICES &lt;USVSP.O> SELLS PREFERRED</TITLE>
<DATELINE>    SAN ANTONIO, Texas, June 2 - </DATELINE><BODY>United Services Advisors Inc
said it has sold to an investor 75,760 shares of preferred
stock at 3.25 dlrs each and an equal number of warrants at five
cts each, but an agreement to sell 454,546 preferred shares and
the same number of warrants to another investor has been
terminated.
    The warrants are exercisable at seven dlrs per share for
five years.
    It said after the sale it has 2,033,733 preferred shares
outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7643" NEWID="18198">
<DATE> 2-JUN-1987 14:15:45.74</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2174&#31;reute
b f BC-******NEWBURY-CORP-EX   06-02 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NEWBERY CORP EXPECTS TO FILE FOR BANKRUPTCY BY THE END OF THE WEEK
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7644" NEWID="18199">
<DATE> 2-JUN-1987 14:17:07.36</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;f2179&#31;reute
u f BC-CHICAGO-PACIFIC-&lt;CPA>   06-02 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICAGO PACIFIC &lt;CPA> TO REPURCHASE NOTES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Chicago Pacific Corp chairman Harvey
Kapnick told analysts that he expects within the next year to
repurchase about 25 mln dlrs of the company's 200 mln dlr issue
of 14 pct subordinated notes.
    To date the company has repurchased about 60 mln of these
notes.
    "This will have a beneficial effect on our net income but
the effects in 1987 have already been anticipated in estimates
for 1987," Kapnick said.
    Earlier, Kapnick said that analysts' 1987 projections of 31
to 35 mln dlrs or 3.10 dlrs to 3.40 dlrs for earnings for
operations are reasonable. These compare to 2.30 dlrs or 22 mln
dlrs for 1986.
    Since November 1985, Chicago Pacific has acquired the
&lt;Hoover Co> and &lt;Rowenta>, both appliance companies and
furniture companies &lt;Kippinger/Pennsylvania House Group Inc> 
and the &lt;McGuire Co>.
    The company spent a total of 724.8 mln dlrs on
acquisitions.
   
    "We believe our balance sheets provides us with about 300
mln dlrs for future acquisitions,"  Kapnick said.
    Kapnick also said he expects sales of the company's
appliance division to increase 17 pct from the 915.7 mln dlrs
reported in 1986.
    Kapnick further said the 67 mln dlrs of trademarks and
patents will be reduced to 40 mln dlrs due to net loss
carryforwards of acquired companies which were offset against
these assets as required by current accounting principles.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7645" NEWID="18200">
<DATE> 2-JUN-1987 14:22:02.92</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;f2196&#31;reute
b f BC-FNMA-SETS-RATE-ON-DEB   06-02 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>FNMA SETS RATE ON DEBENTURE OFFERING</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Federal National Mortgage
Association set an 8.55 pct coupon rate to yield 8.55 on a
four-year 900 mln dlr issue and set a 9.20 pct coupon rate to
yield 9.22 on a 10-year 600 mln dlr issue in tomorrow's 1.5
billion dlr debenture offer.
    Prices were set at par and 99.875, respectively.
    FNMA said previously that the 900 mln dlr issue matures
June 10, 1991, while the 600 mln dlr issue matures June 10,
1997.
    First interest payments will occur Dec 10, 1987, it said.
    FNMA said proceeds will be used to redeem the 300 mln dlrs
of 7.65 pct debentures, 1.05 billion dlrs of 11.2 pct
debentures that mature June 10, 1987, and to finance
operations.
    The debentures will be issued in book entry form only in
minimum purchase amounts of 10,000 dlrs and multiples of 5,000
dlrs thereafter.
    The debentures will be free to trade at 0930 hrs EDT
tomorrow, FNMA said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7646" NEWID="18201">
<DATE> 2-JUN-1987 14:23:03.56</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;f2202&#31;reute
r f BC-AMOCO-&lt;AN>-CANADA-SAY   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>AMOCO &lt;AN> CANADA SAYS SHARE AMOUNT UNDECIDED</TITLE>
<DATELINE>    CALGARY, Alberta, June 2 - </DATELINE><BODY>Amoco Corp's wholly owned Amoco
Canada Petroleum Co Ltd said it had yet to work out details
regarding the amount and timing of its previously reported
share offering in Canada and would be doing so in talks with
Investment Canada in coming weeks.
    An earlier reported published report based on an interview
with Amoco Canada president T. Don Stacy said Amoco's stock
offering would total more than one billion Canadian dlrs if the
company succeeded in its 5.22 billion Canadian dlr bid for Dome
Petroleum Ltd &lt;DMP>.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7647" NEWID="18202">
<DATE> 2-JUN-1987 14:23:08.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2203&#31;reute
r f BC-DESIGNS-INC-&lt;DESI.O>   06-02 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>DESIGNS INC &lt;DESI.O> INITIAL OFFERING UNDERWAY</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Lead underwriter Kidder, Peabody and Co
Inc sand an initial public offering of two mln common shares of
Designs Inc is underway at 13 dlrs per share.
    The company is selling 1,125,000 shares and shareholders
the rest, and underwriters have been granted an option to buy
up to 300,000 more shares to cover overallotments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7648" NEWID="18203">
<DATE> 2-JUN-1987 14:23:14.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2204&#31;reute
r f BC-RCM-TECHNOLOGIES-&lt;RCM   06-02 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>RCM TECHNOLOGIES &lt;RCMT.O> WARRANTS EXERCISABLE</TITLE>
<DATELINE>    LOS ANGELES, June 2 - </DATELINE><BODY>RCM Technologies Inc said the
Securities and Exchange Commission has declared a
post-effective amendment to its registration statement
effective, making its warrants exercisable.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7649" NEWID="18204">
<DATE> 2-JUN-1987 14:23:28.99</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;f2206&#31;reute
r f BC-noranda-forest-sees   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>NORANDA FOREST SEES STRONG PROFIT, CHAIRMAN</TITLE>
<AUTHOR>    By Larry Welsh, Reuters</AUTHOR>
<DATELINE>    TORONTO, June 2 - </DATELINE><BODY>Noranda Forest Inc, a new company
controlled by Noranda Inc &lt;NOR.TO>, will have net earnings of
more than 165 mln dlrs in 1987 and profit will likely continue
to grow, Noranda Forest chairman Adam Zimmerman told Reuters in
an interview.
    "I think our earnings have not peaked," Zimmerman said of
Noranda Forest, which will be Canada's largest forest products
company. Noranda previously said it is spinning off its vast
forest product holdings into the new company and is now making
an initial public offering of Noranda Forest shares.
   
    Zimmerman told Reuters that he agrees with one forest
industry analyst's prediction that Noranda Forest will earn at
least 165 mln dlrs in 1987.
    Noranda Forest's preliminary share prospectus, released
today, shows the company had 1986 pro forma earnings of 80.2
mln dlrs, excluding a 22.5 mln dlr extraordinary gain.
    Asked to comment on the analyst's forecast that Noranda
could earn about 200 mln dlrs this year, Zimmerman said, "I
think that he is directionally very correct."
    He also said Noranda Forest will consolidate financial
results of 50 pct-owned MacMillan Bloedel Ltd &lt;MB.TO>.
    Zimmerman said Noranda Forest expects to raise at least 350
mln dlrs from its first share issue, making it one of Canada's
largest initial public offerings.
    Noranda Forest intends to issue about 15 pct of its common
shares to the public at first, but parent company Noranda Inc
"is prepared to let up to 49 pct of it go into the public hands,"
he added. Noranda Inc now holds all of the 79.9 mln outstanding
shares of Noranda Forest.
    Zimmerman declined to say when future secondary share
offerings might occur, although he said they will be made "as
soon as it's right" for either cash or other securities.
    Proceeds from the share issue will be used mainly to reduce
Noranda Forest's long term debt, listed pro forma as 1.36
billion dlrs at the end of first quarter, 1987, chairman
Zimmerman said.
    Noranda Forest's first priority will be to continue cutting
debt to "a comfortable, manageable level in all likely future
circumstances" or about 30 pct of capital, he said.
    "I think we learned last time around that although your
assets can support a high levels of debt, earnings can't
support associated interest in times of high interest rates,"
Zimmerman commented.
    Noranda Forest had pro forma operating losses of 8.6 mln
dlrs in 1985 and 2.9 mln dlrs in 1984 during periods of higher
interest rates.
    The company's pro forma 1987 first quarter results showed
net profit of 42.2 mln dlrs or 49 cts a share, up from earnings
of 4.7 mln dlrs or one ct a share, excluding a 22.5 mln dlr
extraordinary gain, in the prior year.
    Zimmerman also said the company will concentrate on
maintaining quality earnings from existing operations rather
than increasing operating volumes. "We are likely to spend money
to enhance our operations ahead of expanding them," he said.
    Noranda Forest would also be interested in buying the 50
pct interest it does not already own in Northwood Pulp and
Timber Ltd from Mead Corp &lt;MEA> for between 150 mln and 200 mln
dlrs, Zimmerman said.
    Noranda Forest and Mead each have the right of first
refusal the other's Northwood holding, but Mead likely is not
anxious to sell, he added.
    Noranda Forest's initial dividend policy will be to pay 10
cents a share quarterly. When asked, Zimmerman agreed the
dividend was small compared to cash flow, adding the company
will later "establish a typical or sensible dividend policy."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7650" NEWID="18205">
<DATE> 2-JUN-1987 14:24:56.41</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;f2216&#31;reute
r f BC-FRANCE-FUND   06-02 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTMENT FIRM UPS FRANCE FUND &lt;FRN> STAKE</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>VBI Corp, a British West Indies
investment firm, told the Securities and Exchange Commission it
raised its stake in France Fund Inc to 1,075,700 shares, or
14.3 pct of the total, from 896,500 shares, or 11.9 pct.
    VBI said it bought 179,200 France Fund common shares
between April 24 and June 2 at prices ranging from 13.000 to
14.125 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7651" NEWID="18206">
<DATE> 2-JUN-1987 14:25:04.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2217&#31;reute
r f BC-SOUTHERN-&lt;SO>-UNIT-PR   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHERN &lt;SO> UNIT PREFERRED OFFERING UNDERWAY</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Lead underwriter PaineWebber Group Inc
&lt;PWJ> said an offering of two mln shares of the Class A
preferred stock of Southern Co's Georgia Power Co subsidiary is
underway at 25 dlrs per share.
    It said the underwriters won the issue at competitive sale
today on a bid of 23.812 dlrs per share.
    The shares are not redeemable through refunding operations
before June 1, 1992, when a sinking fund will start retiring
the issue.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7652" NEWID="18207">
<DATE> 2-JUN-1987 14:25:18.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2219&#31;reute
d f BC-SCOTT-PAPER-&lt;SPP>-SET   06-02 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>SCOTT PAPER &lt;SPP> SETS MODERNIZATION PROGRAM</TITLE>
<DATELINE>    PHILADELPHIA, June 2 - </DATELINE><BODY>Scott Paper Co said its S.D. Warren
Co subsidiary will undertake a 60 mln dlr modernization to
increase capacity at its Muskegon, Mich., paper plant.
    The company said the plant is the nation's largest producer
of premium quality coated printing paper.
    It said the modernization is expected to be completed by
the fall of 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7653" NEWID="18208">
<DATE> 2-JUN-1987 14:28:25.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2234&#31;reute
r f BC-CITIZENS-&lt;CSBF.O>-SAY   06-02 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>CITIZENS &lt;CSBF.O> SAYS IT WILL INCUR EXPENSE</TITLE>
<DATELINE>    SILVER SPRING, Md., June 2 - </DATELINE><BODY>Citizens Savings Bank FSB said
it will incur an expense of about 393,000 dlrs or 20 cts a
share for the three and six months ending June 30.
    Citizens said the expense is due to a a recent decision by
the Federal Home Loan Bank Board to eliminate the FSLIC
secondary reserrve as of December 31, 1986.
    According to Citizens, the FHLBB action was taken to cover
future losses of financially troubled institutions. Citizens
said its secondary reserve balance as of December 31, 1986 was
694,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7654" NEWID="18209">
<DATE> 2-JUN-1987 14:28:36.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2236&#31;reute
d f BC-INTERNATIONAL-&lt;ICC.O>   06-02 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL &lt;ICC.O> SETS NEW SOUND TECHNOLOGY</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>International Cablecasting Technologies
Inc, said it introduced its proprietary new technology that can
broadcast compact disk-quality digital sound into the home.
    The company said the new technology, called digital
modulation, permits noise-free, undistorted transmission of 10
channels of pure digital sound or data via satellite and cable
into subscribers' homes, all on a single video channel.
   
    According to the company, the first consumer service to be
offered by International via the new technology will be
SuperSound, a package of eight 24-hour commercial-free digital
uninterrupted music channels to subscribers.
    International said the SuperSound service is expected to be
launched in late 1987 and generally available by early 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7655" NEWID="18210">
<DATE> 2-JUN-1987 14:29:25.34</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2239&#31;reute
u f BC-LYNCH-&lt;LGL>-PLANS-OFF   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>LYNCH &lt;LGL> PLANS OFFER FOR BECOR &lt;BCW> STOCK</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Lynch Corp said it will offer 10.50 dlrs
a share in cash, 4.50 dlrs in subordinated debentures and a 1/4
share in a new company for each Becor Western Inc share
outstanding.
    Lynch said its proposed offer "substantially improves" over
the offer of 10.45 dlrs a share in cash and 4.00 dlrs of senior
sinking fund debentures made by BCW Acquisition Inc, formed by
Becor's management.
    Lynch Chairman Mario Gabelli, who heads a group which owns
12.35 pct of Becor's 16.5 mln outstanding shares, said the
Lynch bid "is about one dlr better than the present offer."
   
    Gabelli previously said in a filing with the Securities and
Exchange Commission he felt the Becor managment buyout was
unfar.
    The Lynch officer said he was invited by other Becor
shareholders to make an offer.
    Following sale of Becor's aerospace subsidiary in February,
the management group led by President William Winter announced
plans for a 238.1 mln dlr leveraged buyout. was planning to
take Becor for about 238.1 mln dlrs.  A shareholder vote on the
buyout offer is scheduled for June four.                
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7656" NEWID="18211">
<DATE> 2-JUN-1987 14:29:58.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2242&#31;reute
d f BC-MUNSON-TRANSPORTATION   06-02 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>MUNSON TRANSPORTATION DELAYS INITIAL OFFER</TITLE>
<DATELINE>    MONMOUTH, Ill., June 2 - </DATELINE><BODY>Munson Transportation Inc said it
postponed its proposed initial public offering due to weakness
in the price of truck stocks.
    Munson is a trucking company that transports food products
and other general commodities, primarily in the Midwestern,
Central and Northeastern sections of the U.S.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7657" NEWID="18212">
<DATE> 2-JUN-1987 14:31:16.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2247&#31;reute
r f BC-SOCAL-EDISON-PLANS-NO   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SOCAL EDISON PLANS NO MAJOR NEW PLANTS</TITLE>
<DATELINE>    ANAHEIM, Calif, June 2 - </DATELINE><BODY>Southern California Edison Co
&lt;SCE> Chairman Howard Allen said the company plans no new major
construction projects in the next eight years.
    "We plan no new major plant additions until at least the
mid-1990s and maybe longer," Allen told a renewable energy
conference here.
    He said Southern California Edison had peak power reserve
margins greater than 20 pct last year. Allen also said he
expects renewable and alternate energy sources, such as solar
and geothermal power, to contribute as much as 26 pct of the
company's electricity within 10 years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7658" NEWID="18213">
<DATE> 2-JUN-1987 14:32:02.93</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2250&#31;reute
u f BC-OVERSEAS-&lt;OSG>-SEES-O   06-02 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>OVERSEAS &lt;OSG> SEES OPEC QUOTAS KEY TO RATES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Overseas Shipholding Group Inc president
Morton Hyman said if oil production by OPEC rises during the
second half of 1987, freight rates for tankers should rise
accordingly.
    Hyman, delivering a speech at the annual shareholders
meeting, said international tanker markets were generally weak
throughout the first quarter, but since the end of March OPEC
oil production has picked up. The result has been a modest
improvement in tanker rates.
    Overseas said 73 pct of its fleet handles liquid cargo.
   
    He said tanker requirements decreased in September 1986 as
OPEC production quotas dropped and levels of oil stocks rose.
    For the first quarter 1987, the company reported net income
of 10.3 mln dlrs, or 40 cts per share, compared to 9.3 mln
dlrs, or 36 cts per share, for the comparable quarter a year
ago.
    The company reported net income for 1986 of 37.3 mln dlrs,
or 1.45 dlrs per share.
   
    "The improvement in the company's 1986 results, after four
years of declining earnings, reflects a sharp, albeit
temporary, rise in freight rates in the international tanker
markets last summer," Hyman said.
    He said the Alaskan oil trade continues to be the principal
source of employment for its U.S. flag tanker fleet, which
represents approximately 15 pct of the company's tonnage.
    Overseas owns and operates 67 vessels.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7660" NEWID="18214">
<DATE> 2-JUN-1987 14:32:53.31</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E RM
&#22;&#22;&#1;f2255&#31;reute
f f BC-embargoed-until-1430   06-02 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
****<TITLE>CANADA 7 YEAR AND 3 MONTH BONDS YIELD 9.40 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7659" NEWID="18215">
<DATE> 2-JUN-1987 14:33:01.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2256&#31;reute
s f BC-OVERSEAS-SHIPHOLDING   06-02 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>OVERSEAS SHIPHOLDING GROUP &lt;OSG> SETS PAYOUT</TITLE>
<DATELINE>    NEW YORK, June 2 -
    </DATELINE><BODY>Qtrly div 12.5 cts per share vs 12.5 cts prior
    Pay Aug 25
    Record Aug Three
    NOTER: full name of company is overseas shipholding group
inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7661" NEWID="18216">
<DATE> 2-JUN-1987 14:36:06.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2271&#31;reute
r f BC-LOWE'S-COS-&lt;LOW>-RAIS   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>LOWE'S COS &lt;LOW> RAISES QUARTERLY ONE CT</TITLE>
<DATELINE>    NORTH WILKESBORO, N.C., June 2 -
    </DATELINE><BODY>Qtly div 11 cts vs 10 cts prior
    Pay July 31
    Record July 17
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7662" NEWID="18217">
<DATE> 2-JUN-1987 14:39:13.15</DATE>
<TOPICS><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;f2283&#31;reute
u f BC-B.F.-GOODRICH-(GR)-CA   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>B.F. GOODRICH &lt;GR>  CANADA STUDIES PLANT</TITLE>
<DATELINE>    MONTREAL, June 2 - </DATELINE><BODY>The Quebec government said it joined
with B.F. Goodrich Canada Inc to study the feasability of
building a vinyl chloride monomer plant in Montreal. The plant
would supply manufacturers of PVC construction and other
materials in Eastern Canada and the Northeastern U.S.,
government officials said.
    Theys said the  plant would cost about 125 mln Canadian
dlrs, with production beginning in 1991 if economic conditions
are right. more
    The Quebec government has said it wants the project to
proceed because it would provide future demand for Petromont
Inc petrochemical products. Petromont is jointly owned by Union
Carbide Canada Ltd &lt;UCC.TO> and the Quebec government's SGF
industrial development group. Its Montreal plant would provide
ethylene as a raw material for the project.
     Quebec said it also wants Interprovincial Pipe Line Ltd
&lt;IPIPF.O> to adapt its pipeline from Sarnia, Ont., to Montreal
to carry natural gas liquids, a decision that will be made by
the federal National Energy Board. It said the pipeline could
provide Petromont with feedstock at one-third the cost of
moving it by rail.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7663" NEWID="18218">
<DATE> 2-JUN-1987 14:39:20.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2284&#31;reute
u f BC-CHICAGO-PACIFIC-&lt;CPA>   06-02 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICAGO PACIFIC &lt;CPA> TO REPURCHASE NOTES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Chicago Pacific Corp chairman Harvey
Kapnick told analysts that he expects whithin the next year to
repurchase about 25 mln dlrs of the company's 200 mln dlr issue
of 14 pct subordinated notes.
    To date the company has repurchased about 60 mln of these
notes.
    "This will have a beneficial effect on our net income but
the effects in 1987 have already been anticipated in estimates
for 1987," Kapnik said.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7664" NEWID="18219">
<DATE> 2-JUN-1987 14:39:29.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2285&#31;reute
s f BC-MCDERMOTT-INTERNATION   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>MCDERMOTT INTERNATIONAL INC &lt;MDR> SETS QUARTERLY</TITLE>
<DATELINE>    NEW ORLEANS, June 2 -
    </DATELINE><BODY>Qtly div 45 cts vs 45 cts prior
    Pay July One
    Record June 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7665" NEWID="18220">
<DATE> 2-JUN-1987 14:40:58.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2289&#31;reute
u f BC-NEWBERY-&lt;NBE>-EXPECTS   06-02 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWBERY &lt;NBE> EXPECTS TO FILE FOR BANKRUPTCY</TITLE>
<DATELINE>    TEMPE, Ariz., June 2 - </DATELINE><BODY>Newbery Corp said Fireman's Fund
Corp &lt;FFC> and United Bank of Arizona are continuing to meet to
explore alternatives, but the company believes, that
irrespective of the outcome, it will be forced to file for
bankruptcy by the end of the week.
    On May four Newbery said it would receive supplemental
funding under a 30-day arrangement with Fireman's Fund and
United Bank that would allow it to continue to operate until a
decision was made on the company's request for long-term
financing.
    The company later announced that it would not be able to
make its July one interest payment on its 12 pct subordinated
convertible debentures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7666" NEWID="18221">
<DATE> 2-JUN-1987 14:42:21.64</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;f2295&#31;reute
f f BC-******ICCO-buffer-sto   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ICCO buffer stock manager to buy 3,000 tonnes cocoa Wednesday, June 3 - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7667" NEWID="18222">
<DATE> 2-JUN-1987 14:45:03.10</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;f2300&#31;reute
b f BC-/ICCO-BUFFER-TO-BUY-3   06-02 0127</UNKNOWN>
<TEXT>&#2;
<TITLE>ICCO BUFFER TO BUY 3,000 TONNES COCOA JUNE 3</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The buffer stock manager of the
International Cocoa Organization (ICCO) will tender for about
3,000 tonnes of cocoa beans Wednesday, June 3, the ICCO said in
a statement.
    It said all other conditions remain unchanged from the
previous announcement.
    These conditions are that offers from registered companies
should be in pounds sterling for cocoa beans for which standard
differentials have been set in the ICCO's buffer stock rules,
and can be for cocoa afloat through to December shipment and
spot to December arrival/delivery.
    The basis position will be afloat, May/July shipment or
June arrival/delivery. For later positions the appropriate
carrying costs will be taken into account.
    The deadline for the receipt of offers by the manager shall
be 1330 hrs london time (1230 gmt) in the case of offers
emanating from the secondhand market and 1400 hours in the case
of offers emanating from the origins.
    The competitiveness of offers will be assessed by taking
into account the standard differentials, the cost of taking
cocoa into store (currently 23.00 pounds sterling from "cif
landed" and 38.00 pounds sterling from "cif shipping weights"
to "in store") and the cost of carry which currently is 12.00
pounds sterling per month, the ICCO said.
    No more than four offers will be considered from each
offering party, it added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7668" NEWID="18223">
<DATE> 2-JUN-1987 14:45:58.00</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2305&#31;reute
u f BC-SCANDINAVIA   06-02 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>GROUP LIFTS STAKE IN SCANDINAVIA FUND &lt;SCF></TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>A foreign investment group told the
Securities and Exchange Commission it raised its stake in
Scandinavia Fund Inc to 3,040,600 shares, or 46.6 pct of the
total outstanding, from 2,829,300 shares, or 43.2 pct.
    The group, which includes Ingemar Rydin Industritillbehor
AB, a Swedish firm, VBI Corp, a British West Indies investment
firm, and Norwegian investor Erik Vik, said it bought 211,300
Scandinavia common shares since April 30 at prices ranging from
10.000 to 10.625 dlrs a share.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7669" NEWID="18224">
<DATE> 2-JUN-1987 14:46:15.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2307&#31;reute
u f BC-LOWE'S-&lt;LOW>-MAY-SALE   06-02 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>LOWE'S &lt;LOW> MAY SALES UP 11 PCT</TITLE>
<DATELINE>    NORTH WILKESBORO, N.C., June 2 - </DATELINE><BODY>Lowe's Cos Inc said its
sales for the four weeks ended May 29 were up 11 pct to 221.0
mln dlrs from 199.5 mln dlrs a year before, with same-store
sales up five pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7670" NEWID="18225">
<DATE> 2-JUN-1987 14:49:54.70</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M F
&#22;&#22;&#1;f2326&#31;reute
r f BC-mueller-brass-price   06-02 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>MUELLER BRASS LOWERS PRODUCT PRICES</TITLE>
<DATELINE>    PORT HURON, MICH., June 2 - </DATELINE><BODY>Mueller Brass Co said that
effective with shipments today, it is adjusting the price of
all brass mill products, except free-cutting brass rod and
related alloys and copper water tube and related products, to
reflect contained copper values at 73 cents a pound, down two
cents.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7671" NEWID="18226">
<DATE> 2-JUN-1987 14:50:42.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2328&#31;reute
d f BC-MERCANTILE-STORES-&lt;MS   06-02 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCANTILE STORES &lt;MST> SETS 2-1/2-FOR-1 SPLIT</TITLE>
<DATELINE>    WILMINGTON, Del., June 2 - </DATELINE><BODY>Mercantile Stores Co Inc said
its stockholders approved a 2-1/2-for-1 common stock split.
    Mercantile said the record date for the split was June one
and that it expects to mail the additional shares resulting
from the split on June 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7672" NEWID="18227">
<DATE> 2-JUN-1987 14:51:02.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2329&#31;reute
r f BC-AMR-&lt;AMR>-COMPLETES-P   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AMR &lt;AMR> COMPLETES PREFERRED STOCK PLACEMENT</TITLE>
<DATELINE>    DALLAS, June 2 - </DATELINE><BODY>AMR Corp, parent company of American
Airlines, said it has completed a private placement of 150 mln
dlrs of preferred auction rate stock through Bankers Trust Co
NY &lt;BT>.
    AMR said the preferred stock was sold in three series of 50
mln dlrs each. Each series is perpetual and will pay dividend
rates which will be determined every seven weeks through a
Dutch Auction process, AMR added.
    The company said it will add the proceeds from the issue to
working capital and use it for capital expenditures and for
general corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7673" NEWID="18228">
<DATE> 2-JUN-1987 14:52:36.17</DATE>
<TOPICS><D>fuel</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F
&#22;&#22;&#1;f2333&#31;reute
u f AM-BLAZE   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>FUEL STORAGE TANKS IN FRANCE BURST INTO FLAMES</TITLE>
<DATELINE>    LYON, France, June 2 - </DATELINE><BODY>Two people were missing and six
injured after tanks containing thousands of cubic metres of
fuel burst into flames today at a Shell storage unit in Lyon,
rescue workers said.
    The blaze broke out with an explosion around 1330 local
time (1130 GMT). Shell is a subsidiary of the Royal Dutch/Shell
Group &lt;RD>.
    Some 200 firemen fought the flames at the gasoline storage
unit at Edouard Herriot riverside port complex and appeared to
have the blaze under control as night fell. The entire southern
section of Lyon was cordoned off.
    The fire destroyed five giant tanks and threatened four
others, the Shell spokesman said. He said that the company
estimated between six and seven thousand cubic metres of
domestic fuel oil, gasoline and additives had been burned.
    The total capacity of the burning tanks was over 10,000
cubic metres, but some had been empty when an explosion started
today's fire, he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7674" NEWID="18229">
<DATE> 2-JUN-1987 14:56:57.00</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2338&#31;reute
b f BC-PAY-'N-PAK-&lt;PNP>-RECE   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>PAY 'N PAK &lt;PNP> RECEIVES AMENDED PROPOSAL</TITLE>
<DATELINE>    KENT, Wash., June 2 - </DATELINE><BODY>Pay 'N Pak Stores Inc said it
received a revision to one of the two previously disclosed
proposals to buy the company.
    Pay 'N Pak said that the proposal from a leveraged buyout
firm had been amended to increase the dividend rate on the
cumulative preferred stock to be received by PNP shareholders
from 13.5 pct to 17.5 pct.
    As previoiusly announced, the proposal calls for a
transaction in which PNP shareholders would receive a
combination of 17.50 dlrs in cash and 2.50 dlrs in liquidation
value of cumulative preferred stock for each common share.
   
    Under the other proposal received from Paul Bilzerian, PNP
shareholders would receive on a blended basis 16.67 dlrs in
cash and 3.33 dlrs in liquidation value of cumulative
redeemable preferred stock for each common share, the company
said.
    Under the Bilzerian proposal, the dividend rate on the
preferred stock would be set so that in the joint opinion of
the financial advisor to Bilzerian and the financial advisor to
Pay 'N Pak, the preferred stock would trade at its liquidation
value on a fully distributed basis, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7675" NEWID="18230">
<DATE> 2-JUN-1987 14:57:20.75</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;f2340&#31;reute
r f BC-FIRST-TENNESSEE-&lt;FTEN   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST TENNESSEE &lt;FTEN> SELLS 12-YEAR NOTES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>First Tennessee National Corp is
offering 75 mln dlrs of subordinated capital notes due 1999
yielding 10.43 pct, said lead manager Goldman, Sachs and Co.
    The notes have a 10-3/8 pct coupon and were priced at 99.65
to yield 175 basis points more than comparable Treasury
securities.
    Non-callable to maturity, the debt is rated Baa-2 by
Moody's and BBB-plus by Standard and Poor's. The gross spread
is seven dlrs, the selling concession is four dlrs and the
reallowance is 2.50 dlrs. Salomon Brothers co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7676" NEWID="18231">
<DATE> 2-JUN-1987 14:59:38.47</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A Y RM
&#22;&#22;&#1;f2346&#31;reute
u f AM-GULF-AMERICAN-1STLD   06-02 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TO PROTECT ONLY AMERICAN SHIPS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>U.S. military forces in the Mideast
Gulf are under orders to protect only American flag vessels and
occasional U.S. arms deliveries on other ships to
"non-belligerent" states in the area, the Pentagon said today.
    "No one has ever stated or supported a policy of protecting
all shipping in those waters," Pentagon spokesman Bob Sims said
as the Reagan Administration drew up plans to increase the
protective U.S. military presence in the gulf.
    Sims denied published reports that U.S. Defense Secretary
Caspar Weinberger sought air cover to protect all neutral
shipping in the western gulf from attacks by Iran and Iraq.
    "As we have said repeatedly, only American flag vessels are
under our protection with the exception, on a limited
case-by-case basis, of ships carrying our Foreign Military
Sales equipment to friendly, non-belligerent states in the
region," Sims said.
    U.S. warships in the gulf two weeks ago protected a Kuwaiti
ship which sailed to Bahrain with U.S. arms for Bahrain and
Kuwait. But Sims said Washington had received assurances that
the the arms would not be used elsewhere.
    He said Kuwait, which is turning 11 oil tankers over to
U.S. firms to fly the American flag and be protected by the
U.S. warships, is not considered a belligerent despite Iranian
charges that Kuwait is supporting Iraq in the gulf war.
    Kuwaiti tankers have come under repeated Iranian attack.
    Sims refused to say how the United States will beef up its
seven-ship Middle East Task Force in the gulf to protect the 11
Kuaiti tankers. But Pentagon officials said that additional
ships and air cover are under consideration.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7677" NEWID="18232">
<DATE> 2-JUN-1987 15:04:43.60</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2372&#31;reute
b f BC-******VIACOM-SAYS-FED   06-02 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>VIACOM SAYS FEDERAL COURT REJECTS REQUEST TO BLOCK PLANNED MERGER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7678" NEWID="18233">
<DATE> 2-JUN-1987 15:05:53.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2377&#31;reute
s f BC-INVESTORS-SAVINGS-BAN   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTORS SAVINGS BANK &lt;ISLA.O> SETS PAYOUT</TITLE>
<DATELINE>    RICHMOND, Va., June 2 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay July 10
    Record June 24
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7679" NEWID="18234">
<DATE> 2-JUN-1987 15:06:53.24</DATE>
<TOPICS><D>crude</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;f2379&#31;reute
r f BC-asamera-completes   06-02 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>ASAMERA &lt;ASM> COMPLETES REFINERY SALE</TITLE>
<DATELINE>    CALGARY, Alberta, June 2 - </DATELINE><BODY>Asamera Inc said wholly owned
Asamera Oil (U.S.) Inc concluded the 25.25 mln U.S. dlr sale of
its Denver refinery to Total Petroleum North America Ltd.
    In addition, Total is purchasing crude oil and refined
product inventories at market value, Asamera said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7680" NEWID="18235">
<DATE> 2-JUN-1987 15:10:28.48</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f2386&#31;reute
b f BC-******S/P-MAY-DOWNGRA   06-02 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P MAY DOWNGRADE HOSPITAL CORP'S 1.8 BILLION DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7681" NEWID="18236">
<DATE> 2-JUN-1987 15:19:46.38</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;f2414&#31;reute
u f BC-COURT-DECLINES-TO-BLO   06-02 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>COURT DECLINES TO BLOCK VIACOM &lt;VIA> MERGER</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Viacom International Inc said the U.S.
District Court for the Southern District of New York denied the
motion of &lt;Carsey-Werner Co> for a temporary injunction to
block the proposed merger of Viacom with a subsidiary of
&lt;National Amusements Inc>.
    Carsey-Werner is the producer of the Cosby Show.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7682" NEWID="18237">
<DATE> 2-JUN-1987 15:23:32.92</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;f2426&#31;reute
u f BC-HOSPITAL-CORP-&lt;HCA>-M   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>HOSPITAL CORP &lt;HCA> MAY BE DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Standard and Poor's Corp said it may
downgrade Hospital Corp of America's 1.8 billion dlrs of debt.
    S and P cited uncertainties over the company's major
restructuring. It noted that Hospital Corp has agreed to sell
104 acute care hospitals to a new company owned by an employee
stock ownership plan.
    The sale is for 1.8 billion dlrs cash. If the proceeds are
used primarily for share repurchases, weaker asset and cash
flow protection will result, S and P said.
    Hospital Corp currently carries A-rated senior debt and
A-minus subordinated debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7683" NEWID="18238">
<DATE> 2-JUN-1987 15:24:11.70</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;f2431&#31;reute
r f BC-AEGON-N.V.-&lt;AEGN.AS>   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>AEGON N.V. &lt;AEGN.AS> BUYS LIFE INVESTORS SHARES</TITLE>
<DATELINE>    CEDAR RAPIDS, Iowa, June 2 - </DATELINE><BODY>AEGON U.S. Holding Corp, a
unit of AEGON N.V. of the Netherlands, and Life Investors Inc
&lt;LINV.O> said they have purchased about 451,000 shares of Life
Investors common stock for 51.61 dlrs per share cash.
    The purchase is part of an agreement between the two
companies made in November 1981, saying that on or before each
April 30 between 1983 and 1987 the companies would offer to buy
one-sixth of the number of Life Investors' common stock
outstanding as of Dec. 31, 1982, not already owned by AEGON.
    On Dec. 31 1988 they would offer to buy any and all
remaining shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7684" NEWID="18239">
<DATE> 2-JUN-1987 15:26:07.69</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;f2439&#31;reute
r f BC-WESBANCO-&lt;WSBC.O>-ACQ   06-02 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>WESBANCO &lt;WSBC.O> ACQUIRING BANK OF SISSONVILLE</TITLE>
<DATELINE>    WHEELING, W. Va., June 2 - </DATELINE><BODY>Wesbanco Inc said its board
executed a merger agreement with the &lt;Bank of Sissonville>.
    When the merger is completed, each of the 50,000 shares of
the Bank of Sissonville common stock outstanding will be
converted into 2.75 shares of Wesbanco common stock, the
company said.
    The Bank of Sissonville has total assets of 25.5 mln dlrs
as of Dec 31, 1986, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7685" NEWID="18240">
<DATE> 2-JUN-1987 15:27:15.54</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;f2444&#31;reute
r f BC-MOODY'S-AFFIRMS-COMPU   06-02 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S AFFIRMS COMPUTER ASSOC &lt;CA>, UCCEL &lt;UCE></TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Moody's Investors Service Inc said it
affirmed the Ba-3 rated convertible subordinated debentures of
both Computer Associates International Inc, due 2012 and UCCEL
Corp, due 1995. About 113 mln dlrs of debt is affected.
    Computer Associates plans to acquire UCCEL through an
exchange of stock, Moody's noted. The resulting merger would
create the largest independent software company yet.
    Moody's said it believes that the merged company may
experience short-term pressure on margins while consolidating
operations. In the long-term, the agency said the outlook is
positive and anticipates a greatly improved market position.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7686" NEWID="18241">
<DATE> 2-JUN-1987 15:27:37.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2446&#31;reute
u f BC-NUCLEAR-DATA-&lt;NDI>-FI   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>NUCLEAR DATA &lt;NDI> FINANCIAL DATA QUALIFIED</TITLE>
<DATELINE>    SCHAUMBURG, ILL., June 2 - </DATELINE><BODY>Nuclear Data Inc said its
auditors, Ernst and Whinney, quaified their opinion on its
financial statements for the fiscal year ended February 28.
    As previously reported, Nuclear Data's bank debt matures on
June 30, 1987, and its lenders have required it to obtain
replacement financing by then.
    It said the auditors qualified their opinion because the
company does not yet have a commitment for replacement
financing. Nuclear Data said it expects to have such financing
in place shortly.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7687" NEWID="18242">
<DATE> 2-JUN-1987 15:27:47.24</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2447&#31;reute
r f BC-municipal-financial   06-02 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>MUNICIPAL FINANCIAL CORP &lt;MFC.TO> SIX MTHS NET</TITLE>
<DATELINE>    BARRIE, Ontario, June 2 -
    </DATELINE><BODY>Period ended April 30
    Shr 71 cts vs 42 cts
    Shr diluted 62 cts vs 38 cts
    Net 2,629,704 vs 1,721,384
    Revs 39.5 mln vs 32.0 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7688" NEWID="18243">
<DATE> 2-JUN-1987 15:28:10.72</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;f2449&#31;reute
r f BC-COMMONWEALTH-MORTGAGE   06-02 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH MORTGAGE &lt;CCMC.O> 4TH QTR NET</TITLE>
<DATELINE>    WELLESLEY, Mass., June 2 -</DATELINE><BODY>Qtr ends April 30
    Shr 32 cts vs 20 cts
    Net 1,981,681 dlrs vs 1,022,451 dlrs
    Avg shrs 6,220,000 vs 5,120,000
    12 mths
    Shr 1.22 dlrs vs 59 cts
    Net 7,005,000 dlrs vs 3,030,000 dlrs
    Avg shrs 5,737,808 vs 5,120,000
    NOTE: full name of company is commonwealth mortgage co inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7689" NEWID="18244">
<DATE> 2-JUN-1987 15:28:25.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2451&#31;reute
u f BC-CONGRESSMAN-QUESTIONS   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CONGRESSMAN QUESTIONS INSIDER TRADING ENFORCEMENT</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Rep. Norman Lent, R-N.Y., said Dennis
Levine's conviction for insider trading showed the need for
tougher enforcement of insider trading laws by the government
and the securities industry.
    Lent's comments came at the start of closed testimony by
Levine at the House Oversight and Investigations subcommittee.
Levine's testimony was not released.
    "Why didn't Dennis Levine's superiors at four different
investment banking houses question the sources of his 'uncanny'
information on possible corporate takeovers?" Lent asked.
    "Why has the Securities and Exchange Commission historically
been unable to prosecute insider trading cases without outside
evidence that illegal behavior has taken place?" Lent added.
    Lent said Levine had told the subcommittee staff his
associates at major banks told him insider trading was accepted
practice. Levine also said he did not worry about being caught
by the SEC.
    "The securities industry must stop putting morality and
ethics behind proift. The SEC must exercise tougher control and
supervision of the industry," Lent said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7690" NEWID="18245">
<DATE> 2-JUN-1987 15:28:50.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2452&#31;reute
u f BC-HARCOURT&lt;HBJ>-CHIEF-S   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>HARCOURT&lt;HBJ> CHIEF SAYS MANAGERS ARE CONFIDENT</TITLE>
<DATELINE>    ORLANDO, Fla., June 2 - </DATELINE><BODY>Harcourt Brace Jovanovich Inc
managers who use a special cash dividend to buy additional
stock are demonstrating confidence in the company, chairman
William Jovanovich said.
    In a written statement Jovanovich said the company's
recapitalization, which will pay a dividend of 40 dlrs per
share in cash and preferred stock worth 10 dlrs per share, is
not a leveraged buyout.
    He said management of Harcourt is not receiving shares in
the recapitalization other than through a legal employee stock
ownership program.
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7691" NEWID="18246">
<DATE> 2-JUN-1987 15:29:30.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2455&#31;reute
r f BC-NORSTAR-&lt;NOR>-DEBT-DO   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>NORSTAR &lt;NOR> DEBT DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded 160 mln dlrs of debt of Norstar Bancorp.
    Cut were the company's senior debt to AA-minus from AA,
subordinated debt to A-plus from AA-minus and preferred stock
to A from A-plus. S/P affirmed its A-1-plus commercial paper.
    The downgrade reflected a modest increase in Norstar's risk
profile, combined with lower financial performance. Norstar's
recent purchase of the 1.2 billion dlr Syracuse Savings Bank
will require substantial management and financial resources to
bring the unit's performance in line with the bank's other
operations, the agency said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7692" NEWID="18247">
<DATE> 2-JUN-1987 15:29:39.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2456&#31;reute
u f BC-GM-&lt;GM>-LABOR-TALKS-T   06-02 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> LABOR TALKS TO OPEN JULY 27</TITLE>
<DATELINE>    DETROIT, June 2 - </DATELINE><BODY>General Motors Corp's negotiations on a
new contract covering 370,000 U.S. workers who belong to the
United Automobile Workers union will open July 27, UAW
president Owen Bieber said.
    He said the opening of talks on a new contract covering
110,000 union members at Ford Motor Co &lt;F> will open the
following day. Current contracts at both companies expire at
2359 EDT on September 14.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7693" NEWID="18248">
<DATE> 2-JUN-1987 15:29:46.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2457&#31;reute
d f BC-NORTH-AMERICAN-VENTUR   06-02 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN VENTURES &lt;NAVI.O> SELLS COMMON</TITLE>
<DATELINE>    EAST HARTFORT, Conn., June 2 - </DATELINE><BODY>North American Ventures Inc
said it has sold about nine mln dlrs of the company's
restricted common shares to the newly created &lt;Butler
International Inc> Employee Stock Option Plan.
    North American said the nine mln dlrs payment resulted from
an excess of funds in Butler's pension plan.
    The transaction was for about 1.5 mln North American common
shares approximating 5.1 pct of the company's outstanding
shares, North American said.
   
    North American said proceeds from the stock sale would
increase the company's stockholders' equity to about 85 mln
dlrs and will be used to pay down aquisition financing used in
the Butler purchase which was completed in January.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7694" NEWID="18249">
<DATE> 2-JUN-1987 15:33:11.68</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;f2467&#31;reute
d f BC-AARON-RENTS-INC-&lt;ARON   06-02 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>AARON RENTS INC &lt;ARON.O> YEAR NET</TITLE>
<DATELINE>    ATLANTA, Ga., June 2 - </DATELINE><BODY>year ended March 31
    Shr 91 cts vs 1.08 dlrs
    Net 4,800,000 vs 5,800,000
    Rev 118.7 mln vs 110.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7695" NEWID="18250">
<DATE> 2-JUN-1987 15:33:36.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2469&#31;reute
u f BC-U.K.-BANKERS-LAUD-VOL   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. BANKERS LAUD VOLCKER, UNSURE ABOUT GREENSPAN</TITLE>
<AUTHOR>    BY MARGUERITE NUGENT, REUTERS</AUTHOR>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>U.K. Bankers for the most part lauded
outgoing U.S. Federal Reserve Chairman Paul Volcker for his
achievements over the past eight years but expressed some
uncertainty about economist Alan Greenspan, nominated by
President Reagan to succeed him.
    "One of Volcker's greatest achievements was the sense of
continuity and stability he gave to the international markets,"
said Carlos Santistevan, executive director of Libra Bank Plc.
However, it is uncertain how long it will take for Greenspan to
fill that role and the degree to which he can do so, he said.
    Greenspan heads his own financial consulting firm,
Townesend, Greenspan Associates Inc and was Chairman of the
Council of Economic Advisers during the Ford Administration.
    "He is a prominent and well known figure in the U.S." said
David Lomax, Group Economics Adviser at National Westminster
Bank Plc, who described Greenspan as an "orthodox Republican
economist" who may be better suited to getting the U.S. Economy
on track than Volcker.
    But for the most part bankers in London are unfamiliar with
Greenspan's views on domestic and international economics or
the international debt crisis.
    "I will be sad to see Volcker go. He is a central banker of
good repute with a general interest in protecting the U.S. And
international banking system," said Libra's Santistevan.
    Volcker knows and understands the problems facing indebted
countries, he said, adding that it is unlikely Greenspan is as
familiar with the problem and the personalities involved.
    For this reason he expects there will be little change in
the Fed's approach to the debt crisis, even as U.S. Commercial
banks take a harder line in dealing with the problem by adding
billions of dollars in reserves against possible losses on
third world debt.
    Another senior banker who deals with the Latin American
debt problem also doubted there would be much change
post-Volcker, but for other reasons.
    He said that despite U.S. Treasury Secretary James Baker's
debt initiative which called for greater contributions by
banks, governments and multilateral organization, government's
have done little to try to improve the situation, leaving the
bulk of the responsibility in the hands of the bankers.
    Despite the Fed's independence from central government, he
questioned how much impact Greenspan could have coming into the
job so close to the next Presidential election.
    News that Volcker would not seek a third term hit the
financial markets hard.  The U.S. Dollar fell sharply on
foreign exchange markets before reported concerted central bank
intervention by the Fed and the Bundesbank helped it recover
somewhat. Prices of Eurodollar denominated bonds fell about one
point, while prices of U.S. Treasury bonds traded here lost
more than one point.
    But despite the disruption in the markets, Lloyds Bank
Plc's Group Economic Adivser Christopher Johnson said the
announcement was well-timed, given the recent rise in the
dollar against the mark and yen.
    In recent statements U.S. Officials have said the dollar
has fallen far enough and at a White House briefing today
announcing his nomination Greenspan said "there certainly is
evidence" that the dollar had bottomed out.
    However, many economists here believe that the recent rise
in the dollar will be only temporary and that it will have to
fall further before America's huge trade deficit begins to
reverse.
    "The dollar has further to fall, although it may take a few
years" said Lloyds Bank's Johnson. He added that the important
thing is that there is a soft landing.
    Like other economists, Johnson is anxious to hear
Greenspan's testify at the Congressional confirmation hearings.
    "He has everything going for him but he must establish
credibility. We have to hear his views on inflation and the
outlook for interest rates," he said.
    Some bankers criticized Volcker for taking too hard a
stance in combating inflation in the late 1970's when his
tightening in U.S. Monetary policy pushed interest rates to
record levels.
    "He tightened more than the Republicans wanted and only
relaxed his stance when the Latin American debt crisis erupted
(in 1982)," National Westminster's Lomax said.
    Lomax said that Greenspan, if appointed, will inherit the
agreements entered into by Volcker with other members of the
Group of Five industrial nations on the dollar.
    However, he said that the danger lies in dollar stability
being maintained because of a monetary policy that is too
tight. Too firm a monetary policy could send the U.S. Into
recession, which would not be welcome by European counterparts,
he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7696" NEWID="18251">
<DATE> 2-JUN-1987 15:36:55.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2475&#31;reute
r f BC-NORTHEAST-UTILITIES-&lt;   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHEAST UTILITIES &lt;NU> UNIT SELLS STOCK</TITLE>
<DATELINE>    HARTFORD, Conn., June 2 - </DATELINE><BODY>Connecticut Light and Power Co, a
unit of Northeast Utilities, said it sold 50 mln dlrs of
preferred stock as part of its ongoing program to refinance
high-interest debt and high-coupon preferred stock.
    Northeast said the stock, which will be retired in 25
years, will carry an annual dividend of 9.1 pct, with
Connecticut Light to use the proceeds to redeem 36 mln dlrs in
preferred stock issued in June 1982.
    The company said the new issue is being offered through E.
F. Hutton and Co.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7697" NEWID="18252">
<DATE> 2-JUN-1987 15:37:10.91</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;f2477&#31;reute
r f BC-HOLLLINGER-&lt;HLG.TO>-P   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLLLINGER &lt;HLG.TO> PAYING 50 MLN DLRS FOR BUY</TITLE>
<DATELINE>    TORONTO, June 2 - </DATELINE><BODY>Hollinger Inc will pay about 50 mln dlrs
cash for its previously reported acquisition of privately owned
Unimedia Inc, chairman Conrad Black told reporters after the
annual meeting, confirming a published report.
    Commenting on press reports about the 50 mln dlr price tag,
Black said, "That would not be wildly inaccurate," although he
declined to disclose the actual cost.
    Montreal-based Unimedia is Quebec's third largest newspaper
group, with three French language daily newspapers in Quebec
City, Ottawa and Chicoutimi, Quebec and four printing plants in
Ontario and Quebec.
    Black added that Hollinger would also continue seeking
acquisitions of daily newspapers with circulation under 25,000
readers. He said Hollinger was currently talking to about 10
such newspapers in the U.S. where the company currently owns 23
dailies.
    "There is really no end to the ones that are available," he
told reporters, although he added that most remaining
acquisition opportunities are in the U.S.
    He said that Hollinger's 58 pct-owned Daily Telegraph PLC,
of London, should become profitable in this year's fourth
quarter.
   
    For full-year 1987, the Daily Telegraph could break even or
better, said Black, citing major reductions in labor costs and
improved technology at the Telegraph, Britain's largest
circulation quality daily. The Telegraph lost 13.2 mln Canadian
dlrs last year.
    Daily Telegraph chief executive Andrew Knight told
reporters after the meeting that the Telegraph's daily
circulation had risen by 25,000 since September to about
1,150,000 on weekdays, despite added competition from the new
Independent daily newspaper.
   
    Knight said The Independent was not affecting the
Telegraph's growth, but was making inroads into the circulation
of other London quality dailies such as The Times and The
Guardian.
    Hollinger chairman Black predicted Hollinger would post
1987 net income of about 55 mln dlrs, or one dlr a share,
including extraordinary gains from previous sales of
discontinued operations. Hollinger lost 87 mln dlrs or 6.54
dlrs a share last year on fewer average shares and after an
extraordinary loss of 52 mln dlrs.
   
    Black told shareholders that first quarter operating
earnings on continuing operations amounted to 499,000 dlrs
against a year-ago loss of 165,000 dlrs.
    Revenues on continuing operations rose to 102.1 mln dlrs
from 1.5 mln dlrs last year, which did not include Daily
Telegraph revenues, he added. Consolidated first quarter
figures were not disclosed.
    He said the Daily Telegraph's first quarter operating loss
was sharply reduced from last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7698" NEWID="18253">
<DATE> 2-JUN-1987 15:37:40.59</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2478&#31;reute
r f BC-TEXAS-EASTERN-&lt;TEX>-U   06-02 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS EASTERN &lt;TEX> UNIT FILES FOR NEW RATES</TITLE>
<DATELINE>    BOSTON, June 2 - </DATELINE><BODY>Algonquin Gas Transmission Co, a unit of
Texas Eastern Corp, said it has filed for Federal Energy
Regulatory Commission approval of new rate schedules.
    It said it has also filed for proposed service agreements
for interruptible and firm transportation service.
    Algonquin said the filing would allow its customers to move
available spot gas supplies to price competitive markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7699" NEWID="18254">
<DATE> 2-JUN-1987 15:37:56.89</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2479&#31;reute
u f BC-USX-&lt;X>-UNIT-RAISES-P   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> UNIT RAISES PRICES ON CERTAIN GRADES</TITLE>
<DATELINE>    LORAIN, Ohio, June 2 - </DATELINE><BODY>USX Corp's USS division said it was
raising prices for all hot rolled bar and semi-finished
products 1100 series grades by 10 dlrs per ton effective July
One, 1987.
    The company said the increase reflects current market
conditions.
    The company could not say what percentage the increase
reflects from current prices, nor could it say how much per ton
the products sell for currently.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7700" NEWID="18255">
<DATE> 2-JUN-1987 15:38:07.28</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;f2480&#31;reute
r f BC-CENTRAL-MAINE-&lt;CTP>-S   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL MAINE &lt;CTP> SEEKS COGENERATOR SPONSORS</TITLE>
<DATELINE>    AUGUSTA, Maine, June 2 - </DATELINE><BODY>Central Maine Power Co said it
issued a request for proposals for about 150 potential project
sponsors of cogeneration and small power production projects.
    The utility said it has about filled six avoided cost
decrements and is soliciting proposals to fill about 50
megawatts each in the seventh and eighth decrements as defined
by the Maine Public Utilities Commission.
    Central Main said the avoided costs for both decrements
have been established on the basis of costs negotiated between
the utility and Hydro-Quebec for planned power purchase
beginning in 1992.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7701" NEWID="18256">
<DATE> 2-JUN-1987 15:38:19.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2481&#31;reute
r f BC-SPARTECH-&lt;SPTN.O>-HAS   06-02 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>SPARTECH &lt;SPTN.O> HAS 475,000 DLRS FOR BUYBACK</TITLE>
<DATELINE>    ST. LOUIS, June 2 - </DATELINE><BODY>Spartech Corp, which earlier said it
will repurchase up to 10 pct of its 2.6 mln outstanding shares
in the open market, said it has about 475,000 dlrs currently
available for buybacks.
    It said its indenture for convertible subordinated debt
limits stock purchases to 50 pct of net earnings (less
preferred stock dividends) each fiscal year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7702" NEWID="18257">
<DATE> 2-JUN-1987 15:38:35.66</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>romania</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2482&#31;reute
r f AM-TRADE   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN SEEKS ROMANIA TRADE CONCESSION</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>President Reagan called for continued
nondiscriminatory treatment for Romanian exports to the United
States in the face of congressional opposition because of the
Bucharest government's record on human rights.
    A White House statement said Reagan's decision to press for
continuation of so-called Most Favored Nation (MFN) status for
Romania had been "exceptionally difficult" and came after "all
options were seriously considered."
    But the statement said that despite concerns about human
rights abuses by the Bucharest government, the president had
decided that should be continued because it helped stimulate
emigration from Romania and gave the United States influence on
human rights practices there.
    The statement was issued as Reagan sent to Congress
requests for one-year extensions of MFN for Romania, Hungary
and China.
    The House of Representatives has attached to a trade bill
legislation that would temporarily deny MFN for Romania pending
certification by Reagan that the country had made progress on
human rights. There is no controversy over continuation of MFN
for Hungary and China.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7703" NEWID="18258">
<DATE> 2-JUN-1987 15:38:41.33</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;f2483&#31;reute
d f BC-TIMBERLINE-INDUSTRIES   06-02 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>TIMBERLINE INDUSTRIES INC &lt;TIMB.O> 1ST QTR NET</TITLE>
<DATELINE>    BELLEVUE, Wash., June 2 -
    </DATELINE><BODY>Oper shr eight cts vs two cts
    Oper net 119,000 vs 32,000
    Sales 12.0 mn vs 11.3 mln
    Note: Current qtr figures exclude loss from discontinued
operations of 30,000 dlrs, or two cts per share, vs loss of
54,000 dlrs, or four cts per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7704" NEWID="18259">
<DATE> 2-JUN-1987 15:39:08.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2484&#31;reute
r f BC-RAINIER-BANCORP-&lt;RBAN   06-02 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINIER BANCORP &lt;RBAN.O> NAMES NEW UNIT EXEC</TITLE>
<DATELINE>    SEATTLE, June 2 - </DATELINE><BODY>Rainier Bancorp said Allan Nichols, head
of its Consumer Banking Division, has resigned, effective June
19, and will be succeeded by David Williams.
    Williams is currently head of its Corporate Banking
division, Rainier said.
    It said James Cullen, currently in charge of International
Banking, will succeed Williams in Corporate Banking and Steve
Driscol, director of the International Division's Asia-Pacific
Region, will succeed Cullen at International Banking.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7705" NEWID="18260">
<DATE> 2-JUN-1987 15:39:32.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2487&#31;reute
d f BC-CORBUS-&lt;CRVS.O>-PRESI   06-02 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>CORBUS &lt;CRVS.O> PRESIDENT NAMED CEO</TITLE>
<DATELINE>    SAN JOSE, Calif., June 2- </DATELINE><BODY>Corvus Systems Inc said Lewis
Lipton, currently president, was named to the additional post
of chief executive.
    The company said Lipton was also elected to its board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7706" NEWID="18261">
<DATE> 2-JUN-1987 15:39:52.12</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;f2488&#31;reute
r f BC-S/P-MAY-UPGRADE-COMPU   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P MAY UPGRADE COMPUTER ASSOC &lt;CA>, UCCEL &lt;UCE></TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Standard and Poor's Corp said it may
upgrade 100 mln dlrs of B-plus subordinated debt of Computer
Associates International Inc and 13 mln dlrs of B-minus
subordinated debt of UCCEL Corp.
    S and P cited a merger agreement between the two companies
which it believes will improve both firms' market positions as
well as complement each other's products and distribution.
    But S and P pointed out that duplicate product lines could
raise marketing difficulties and restrict sales.
    The agency will study improvements in the financial
condition and competitive position of the merged entity.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7707" NEWID="18262">
<DATE> 2-JUN-1987 15:39:58.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2489&#31;reute
d f BC-AUTODESK-&lt;ACAD.O>-SEL   06-02 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>AUTODESK &lt;ACAD.O> SELLS STOCK</TITLE>
<DATELINE>    SAUSALITO, Calif., June 2 - </DATELINE><BODY>Autodesk Inc said it made an
underwritten public offering of 2,640,836 common shares at 24
dlrs per share.
    The company said it sold 2.5 mln shares and the rest were
sold by stockholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7708" NEWID="18263">
<DATE> 2-JUN-1987 15:41:47.60</DATE>
<TOPICS><D>grain</D><D>barley</D></TOPICS>
<PLACES><D>usa</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2497&#31;reute
u f BC-/CCC-ACCEPTS-BONUS-ON   06-02 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC ACCEPTS BONUS ON BARLEY TO SAUDI ARABIA</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Commodity Credit Corporation, CCC,
has accepted bids for export bouses to cover sales of 150,000
tonnes of U.S. barley to Saudi Arabia, the U.S. Agriculture
Department said.
    The CCC accepted three bonus offers from one exporter which
averaged 40.88 dlrs per tonne, it said.
    The barley is for delivery August 15-November 30 in three
shiments of 50,000 tonnes each.
    The bonus awards were made to Louis Dreyfus Corporation and
will be paid in the form of commodities from CCC stocks.
    An additional 350,000 tonnes of U.S. barley are still
available to Saudi Arabia under the Export Enhancement Program
initiative annnounced on May 15, 1987, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7709" NEWID="18264">
<DATE> 2-JUN-1987 15:45:29.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2504&#31;reute
h f BC-ROCKWELL-&lt;ROK>,-U-S-W   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>ROCKWELL &lt;ROK>, U S WEST &lt;USW> UNIT IN PACT</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Rockwell International Corp said it and U
S West Knowledge Engineering Inc, a U S West Inc subsidiary,
agreed to jointly develop an operator workstation that combines
voice and data capabilities for directory assistance, call
intercept and other operator functions in a single terminal.
    It said the systems will be offered as integrated elements
of Rockwell's telephone- company-oriented ISS-3000 Automatic
Call Distribution switches.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7710" NEWID="18265">
<DATE> 2-JUN-1987 15:47:04.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>luxembourg</D><D>uk</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2507&#31;reute
u f AM-COMMUNITY-BUDGET 1ST  06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>NO PROSPECT IN SIGHT OF EC BUDGET ACCORD</TITLE>
<DATELINE>    LUXEMBOURG, June 2 - </DATELINE><BODY>The European Community was set to
plunge into an ever-deepening budget crisis after ministers
failed to reach agreement on plugging a gap in the
near-bankrupt Community's finances, diplomats said.
    As EC budget ministers ended six hours of talks in
Luxembourg, diplomats said there was little basis for an accord
amongst the trading bloc's 12 member states.
    The EC executive Commission says the Community faces a
deficit this year of at least five billion European Currency
Units and could be forced to choose between massive spending
cuts or bankruptcy.
    It has appealed to member states to pay an extra 1.5
billion ECUs to help meet the deficit, caused by soaring farm
spending and falling revenues.
    But hardliners Britain and West Germany have insisted that
there can be no extra cash for the Community this year and
instead call for a clampdown on farm spending, which absorbs
two thirds of the EC budget.
    "We have to make clear that expenses should be based on
income," West German Minister of State Hans Tietmeyer told
reporters.
    "There is no way the Germans will agree to extra financing
in the form of national contributions," he added.
    A second Commission proposal, which would plug most of the
budget gap by paying member states in arrears rather than in
advance for their spending on Community farm policies, was also
far from agreement, diplomats added.
    The proposal, strongly backed by Britain and West Germany,
would save up to four billion ECUs if payments were delayed for
two months.
    But poorer member states, which would have to borrow funds
to cover the delay, complain the change in the system would
unfairly impose too much of the burden on them.
    The European Parliament is also expected to refuse an early
debate on the changeover in the farm payments system, further
delaying any moves to solve the deficit problem, parliamentary
sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7711" NEWID="18266">
<DATE> 2-JUN-1987 15:50:04.09</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2516&#31;reute
f f BC-******AHMANSON-TO-POS   06-02 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AHMANSON TO POST 2ND QTR WRITEOFF OF 24 MLN DLRS ON FSLIC RESERVE INVESTMENT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7712" NEWID="18267">
<DATE> 2-JUN-1987 15:50:39.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2517&#31;reute
u f BC-DATA-GENERAL-&lt;DGN>-SE   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA GENERAL &lt;DGN> SEES LITTLE SALES UPTURN</TITLE>
<AUTHOR>    By Lawrence Edelman, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Data General Corp said sales continue to
remain flat and it sees little evidence that demand will pick
up in the near future.
    The company had not "really seen any major change" in
demand, vice president of group marketing, J. David Lyons, told
Reuters in an interview. "Our sales have been moderate to flat,
but certainly not down," Lyons said.
    Data General president Edson de Castro declined to comment
on his outlook for the computer industry or on the company's
performance.
   
    Wall Street analysts said they were not surprised by the
less than confident message from Data General which earlier
today announced computer networking products to link personal
computers with networks of its minicomputers and computers from
other vendors.
    "They've tried a number of different things that haven't
seemed to work," said Paine Webber analyst Stephen Smith. "Data
General is finding that aggressive pricing alone isn't enough"
to win sales," Smith said.
    In the second quarter ended March 31, Data General posted
an operating loss of 24.4 mln dlrs, or 91 cts a share, compared
to earnings of 2.0 mln dlrs, or eight cts a share, a year
earlier. Sales for the quarter fell to 315.2 mln dlrs from
318.8 mln dlrs.
    Despite reports of an upturn in sales at rivals Digital
Equipment Corp &lt;DEC> and International Business Machines Corp
&lt;IBM>, Data General said it was not convinced that the
minicomputer market had emerged from a two-year slump.
    "We would rather wait until we see a sustained improvement
in orders," Lyons said.
   
    Lyons said new hardware and software introduced by the
company are a response to customers who want to tie together
their growing number of PCs and to connect them with larger
mini and mainframe computers.
    He said the products are part of a new strategy of
providing industry-standard systems that allow computers from
different vendors to share and exchange information.
   
    Analysts noted that Data General is one of many companies
promoting the integration of PCs with other office computers.
    "PC integration is a tough strategy," said Smith.
    "A lot of people are coming to the market from a lot of
different angles," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7713" NEWID="18268">
<DATE> 2-JUN-1987 15:56:42.47</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;f2521&#31;reute
b f BC-SENATE-CLEARS-WAY-FOR   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>SENATE CLEARS WAY FOR PASSAGE OF MONEY BILL</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Senate cleared away a
parliamentary obstacle threatening final passage of a 9.4
billion dlr money bill for the rest of fiscal 1987 ending
October 1.
    The Senate voted 64 to 32 to override objections the bill's
money total violated the 1987 budget, a vote that required 60
votes for approval.
    The House-passed measure, debated by the Senate since May
7, carries funds for most government activities with the bulk
--6.7 billion dlrs--for agriculture support programs.
    Final passage could come late tonight or tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7714" NEWID="18269">
<DATE> 2-JUN-1987 15:57:10.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2522&#31;reute
u f BC-NOLAND-&lt;NOLD.O>-MAY-S   06-02 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>NOLAND &lt;NOLD.O> MAY SALES DECLINES 11 PCT</TITLE>
<DATELINE>    NEWPORT NEWS, Va., June 2 - </DATELINE><BODY>Noland Co said its May sales of
35 mln dlrs was down 11 pct from the year-earlier period of
38.8 mln dlrs.
    For the first five months of 1987, the company said its
sales totaled 161.8 mln dlrs, four pct less than the first five
months of 1986 when the company posted sales of 169.0 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7715" NEWID="18270">
<DATE> 2-JUN-1987 16:00:31.55</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2525&#31;reute
f f BC-******AHMANSON-SAID-I   06-02 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AHMANSON SAID IT POSTPONED SALE OF UP TO ONE BILLION DLRS OF SECURITIES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7716" NEWID="18271">
<DATE> 2-JUN-1987 16:01:22.24</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2527&#31;reute
u f AM-GULF-CONGRESS   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>LAST-MINUTE OPPOSITION TO GULF BILL ARISES</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>House Speaker Jim Wright predicted
passage of legislation requiring the Reagan administration to
provide Congress with a report on its Mideast Gulf policy, but
a last-minute revolt by an alliance of liberals and
conservatives left the bill's fate in doubt.
    The legislation was written in the wake of the May 17th
Iraqi missile attack on the U.S. frigate Stark in the Gulf,
which killed 37 Americans, and President Reagan's decision to
protect 11 Kuwaiti oil tankers by putting them under U.S. flags
-- effectively making them American ships.
    Since the administration made known its reflagging plans,
congressional leaders complained they had not been consulted,
and some charged the policy could lead the United States into
the 6 1/2-year-old war between Iran and Iraq.
    The House was to vote today on a bill -- supported by the
Democratic and Republican congressional leadership and the
administration -- which demanded a report within seven days on
plans to meet the security needs of U.S. forces in the gulf.
    The resolution was expected to pass without controversy
today in the House Foreign Affairs Committee before the full
House was to take up the bill. But in a surprise move, liberal
Democrats and conservative Republicans on the committee joined
in an unusual alliance to oppose the resolution.
    Liberal Democrats said a lack of any restrictions in the
bill implied consent to Reagan's policies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7717" NEWID="18272">
<DATE> 2-JUN-1987 16:02:58.70</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2533&#31;reute
f f BC-******U.S.-SELLING-13   06-02 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SELLING 13.2 BILLION DLRS OF 3 AND 6-MO BILLS JUNE 8 TO PAY DOWN 1.3 BILLION DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7718" NEWID="18273">
<DATE> 2-JUN-1987 16:08:14.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f2541&#31;reute
b f BC-/U.S.-TO-SELL-13.2-BI   06-02 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TO SELL 13.2 BILLION DLRS OF BILLS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The U.S. Treasury said it will sell
13.2 billion dlrs of three and six-month bills at its regular
auction next week.
    The June 8 sale, to be evenly divided between the three and
six month issues, would result in a paydown of 1.3 billion dlrs
as maturing bills total 14.512 billion dlrs.
    The bills are to be issued June 11.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7719" NEWID="18274">
<DATE> 2-JUN-1987 16:10:37.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2547&#31;reute
r f BC-U.S.-WEEKLY-ELECTRIC   06-02 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WEEKLY ELECTRIC OUTPUT UP 6.8 PCT FROM 1986</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>U.S. power companies generated a net
49.92 billion kilowatt-hours of electrical energy in the week
ended May 30, up 6.8 pct from 46.74 billion a year earlier, the
Edison Electric Institute (EEI) said.
    In its weekly report on electric output, the electric
utility trade association said electric output in the week
ended May 23 was 49.86 billion kilowatt-hours.
    The EEI said power production in the 52 weeks ended May 30
was 2,578.41 billion kilowatt hours, up 2.7 pct from the
year-ago period.
    Electric output so far this year was 1072.97 billion
kilowatt hours, up 3.2 pct from 1039.25 billion last year, the
EEI said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7720" NEWID="18275">
<DATE> 2-JUN-1987 16:11:50.64</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2550&#31;reute
r f BC-USDA-SETS-0/92-PROVIS   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA SETS 0/92 PROVISION FOR SOME PRODUCERS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Some producers in the 1987 acreage
reduction program may be eligible for deficiency payments on 92
pct of their enrolled acreage even though none of it is planted
with wheat or other program crops, the U.S. Agriculture
Department said.
    The department said the provision of the Farm Disaster
Assistance Act will be available to all eligible winter wheat
producers, producers of other types of wheat who were prevented
from planting their 1987 wheat crop because of a 1986 natural
disaster, and all producers who operate farms with program crop
acreage bases subject to flooding on 50 pct of such crop's
permitted acreage.
    A producer who did not enroll in the 1987 acreage reduction
program may become eligible by signing-up no later than July
15. Producers will be informed by the local offices when
applications are being accepted, it said.
    The department said producers of wheat other than winter
wheat may use the 0/92 option if they were preventedf from
planting their intended acreage with wheat for harvest in 1987
because of any natural disasters which occured in 1986 or if
the farm is located in a county approved by Farmers Home
Administration for emergency loans for such disasters that
occurred in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7721" NEWID="18276">
<DATE> 2-JUN-1987 16:13:31.75</DATE>
<TOPICS><D>carcass</D></TOPICS>
<PLACES><D>usa</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2555&#31;reute
u f BC-CCC-ACCEPTS-BONUS-ON   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC ACCEPTS BONUS ON POULTRY TO IRAQ -- USDA</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Commodity Credit Corporation (CCC)
has accepted a bid for an export bonus to cover the sale of
15,000 tonnes of frozen poultry to Iraq, the U.S. Agriculture
Department said.
    The poultry is for shipment June-September and the bonus
was 719.80 dlrs per tone, it said.
    The bonus award was made to ConAgra Poultry Co and will be
paid in the form of commodities from the inventory of CCC
stocks.
    The purchase completes the Export Enhancement initiative
for Frozen Poultry to Iraq announced December 22, 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7722" NEWID="18277">
<DATE> 2-JUN-1987 16:15:27.70</DATE>
<TOPICS><D>carcass</D></TOPICS>
<PLACES><D>usa</D><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2557&#31;reute
u f BC-CCC-ACCEPTS-BONUS-ON   06-02 0128</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC ACCEPTS BONUS ON POULTRY TO EGYPT -- USDA</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Commodity Credit Corporation (CCC)
has accepted a bid for two bonus offers to cover the sale of
10,000 tonnes of frozen poultry to Egypt, the U.S. Agriculture
Department said.
    The poultry is for shipment November, 1987, through August,
1988, and the bonus was 473.99 dlrs per tonne for the frozen
fryer legs. The bonuses were made to Gress Foods, Inc (5,000
tonnes), and Serva International Ltd (5,000 tonnes).
    The subsidies will be paid to the exporters in the form of
commodities from CCC stocks.
    An additional 8,500 tonnes of frozen poultry remain
available to Egypt under the Export Enhancement Program
initiative announced Dec 19, 1986, and Feb 27, 1987, the
department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7723" NEWID="18278">
<DATE> 2-JUN-1987 16:18:43.94</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;f2572&#31;reute
d f AM-VOLKSWAGEN   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DEUTSCHE BANK SAYS NO SUPPORT FOR VW MANAGEMENT</TITLE>
<DATELINE>    FRANKFURT, West Germany, June 2 - </DATELINE><BODY>West Germany's biggest
bank said it would withhold support from Volkswagen AG &lt;VOWG.F>
management at next month's annual meeting because of the VW
currency scandal.
    Deutsche Bank AG &lt;DBKG.F> said it would abstain in votes
exonerating VW management and the supervisory board, which
represents shareholders and employees, unless an auditor's
report on the currency scandal is published before the July 2
annual meeting and either clearly absolves or blames the
management and board.
    Several shareholder groups have said they will vote against
management at what promises to be a stormy annual meeting. If a
majority of shareholders back these groups, the top management
of Europe's biggest carmaker could be dismissed.
    Deutsche said it expected the results of the auditor's
report on the currency fraud, which cost VW some 260 mln dlrs,
to be published before the annual meeting.
    But in a letter to Deutsche customers depositing their VW
shares at the bank, Deutsche wrote: "Without knowledge of these
results, we do not think we are in a position to make you a
suggestion for or against exoneration of the management board
and supervisory board."
    "Unless you give us instructions to the contrary, we will
abstain with your shares ... but we reserve the right to vote
for or against exoneration of the management board and
supervisory board, if this seems in your interest in line with
the results of the auditor's report," it added.
    A strong shareholder vote against the management would
empower the supervisory board to dismiss the management if it
chooses, though such a move would not be mandatory.
    A member of the supervisory board who does not receive
exoneration at an annual meeting may have to step down.
    An abstention or no-vote by banks on behalf of customers
against management would in itself be a vote of no confidence.
    German banks traditionally use their huge proxy votes at
annual meetings to support the management of the company, in
which they are often represented on the supervisory board.
    VW management board chairman Carl Hahn said in April that
1986 profits had been hit by the scandal, in which documents
relating to currency arbitrage were allegedly faked, but
profits for 1987 would not be affected.
    Following the scandal, finance director Rolf Selowsky
resigned, and former chief dealer Bobby Junger was arrested.
    Deutsche represents 8-10 pct of VW's share capital, the
sources said, and F. Wilhelm Christians, one of the bank's two
management board spokesmen (chief executives) is on the VW
supervisory board.
    Banking sources said Deutsche was furious with VW after the
bank led an international placement of VW shares from the
company's record rights issue last September.
    Less than two months later VW announced a sharp fall in
interim profits, bashing its share price and severely denting
confidence in the German share market generally.
    A spokesman for the Savings Bank Association said that
German savings banks would vote not to discharge Selowsky, and
depending on whether the auditor's report was published would
abstain on the vote for other management board members.
    The federal government and the state of Lower Saxony
together have 40 pct of VW shareholders' votes. It is still
unclear how they will vote. Associations representing small
shareholders will also ensure the annual meeting is heated.
    The Protective Association for Securities Ownership has
said it will vote against the entire management board, and the
Protective Society for Small Shareholders will also vote
against the supervisory board.
    A spokeswoman for Deutsche Treuhand-Gesellschaft AG, the
auditors commissioned by VW in March to investigate the
scandal, declined to comment when its report would be issued.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7724" NEWID="18279">
<DATE> 2-JUN-1987 16:18:59.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2573&#31;reute
r f BC-BILL-WITH-FARM-MONEY   06-02 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>BILL WITH FARM MONEY NEARS U.S. SENATE OKAY</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Senate cleared away a
parliamentary obstacle threatening final passage of a 9.4
billion dlr money bill for the rest of fiscal 1987.
    The Senate voted 64 to 32 to override objections the bill's
money total violated the 1987 budget, a vote that required 60
votes for approval.
    The House-passed measure, debated by the Senate since May
7, carries funds for most government activities with the bulk,
6.7 billion dlrs, for agriculture support programs.
    Final passage could come late tonight or tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7725" NEWID="18280">
<DATE> 2-JUN-1987 16:19:47.63</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2576&#31;reute
u f BC-PHELPS-DODGE-&lt;PD>-SEE   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>PHELPS DODGE &lt;PD> SEES STRONGER COPPER PRICES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Phelps Dodge Corp officials said good
fundamentals in copper markets should lead to improving prices
for the metal.
    In an interview with Reuters, chairman G. Robert Durham
said continued strong demand and low inventories pushed prices
up eight to nine pct on the New York Commodities Exchange last
month.
    "Our customers in this country are living off the tailgates
of our trucks," he said, referring to tightness of supply and
strong demand. "The fundamentals are good."
   
    Asked if metal prices will continue to rise, Durham said;
"All I know is, fundamentals cannot be ignored."
    He said copper supplies are lower than they have been for
almost 20 years. Last year, copper demand was second highest on
record behind 1984, he said.
    Phelps Dodge is the nation's largest copper company, with
annual production expected to reach 500,000 tons this year.
   
    During the interview, executive vice president Douglas
Yearley said he believed it was only a matter of time before
the copper price rose "because there aren't that many new
projects coming on, and demand, short of a major recession,
will continue to grow modestly."
    Copper for July delivery rose more than two cts a pound to
more than 69 cents in Comex trading today. A one cent a pound
rise in copper prices yields 10 mln dlrs in annual earnings for
Phelps Dodge, the company said.
    "Demand has been surprisingly good in 1987, in construction
and other areas," Yearley said.
   
    New production later this year from a Bingham, Utah, mine
owned by Kennecott Corp, a unit of British Petroleum Co PLC's
&lt;BP> Standard Oil Co, a mine in New Guinea and Phelps Dodge's
own expanded Morenci, Ariz., mine will be offset by production
shortfalls in Mexico and Zambia, he said.
    Durham said production costs at the New Mexico-located
Chino mine will be in line with conventional copper production
at the company's other mines by the fourth quarter. The
company's total production costs, including depreciation but
before interest and corporate expense, should be below 50 cts a
pound by late 1989 or 1990, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7726" NEWID="18281">
<DATE> 2-JUN-1987 16:19:55.77</DATE>
<TOPICS><D>lumber</D></TOPICS>
<PLACES><D>usa</D><D>haiti</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2577&#31;reute
u f BC-CCC-CREDIT-GUARANTEES   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC CREDIT GUARANTEES TO HAITI AMENDED</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Commodity Credit Corporation (CCC)
has amended its Export Credit Guarantee Program line to Haiti
to add one mln dlrs in guarantees for sales of U.S. wood
products, the U.S. Agriculture Department said.
    The action increases the value of export credit guarantees
for wood products to Haiti from 1.8 to 2.8  mln dlrs and the
total value of export credit guarantees authorized to Haiti for
the current fiscal year for all commodities to 12.0 mln dlrs,
the department said.
    All sales must be registered and exports completed by Sept
30, 1987, it noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7727" NEWID="18282">
<DATE> 2-JUN-1987 16:22:03.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2586&#31;reute
h f BC-U.S.-SUGAR-&lt;USUG.O>-P   06-02 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SUGAR &lt;USUG.O> PRESIDENT TO RETIRE</TITLE>
<DATELINE>    CLEWISTON, Fla., June 2 - </DATELINE><BODY>John Boy, president and chief
executive officer of the U.S. Sugar Corp, said he will retire
effective June 30, 1987.
    He will be replaced by J. Nelson Fairbanks, currently
senior vice president, the company said.
    Boy will be the vice chairman of the board effective July
One, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7728" NEWID="18283">
<DATE> 2-JUN-1987 16:22:10.02</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;f2587&#31;reute
r f BC-TEXAS-AMERICAN-ENERGY   06-02 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS AMERICAN ENERGY CORP &lt;TAE> 1ST QTR</TITLE>
<DATELINE>    MIDLAND, Texas, June 2 -
    </DATELINE><BODY>Shr 42 cts vs 22 cts
    Net 3,445,000 vs 2,326,000
    Revs 41.7 mln vs 51.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7729" NEWID="18284">
<DATE> 2-JUN-1987 16:23:10.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2589&#31;reute
r f BC-BRANIFF-INC-&lt;BAIR.O>   06-02 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>BRANIFF INC &lt;BAIR.O> MAY TRAFFIC ROSE</TITLE>
<DATELINE>    DALLAS, June 2 - </DATELINE><BODY>Braniff Inc  aid its May load factor rose
to 59.15 pct from 57.16 pct. Revenue passenger miles rose 25.7
pct to 268.9 mln miles from 213.8 mln miles and available seat
miles rose 21.5 pct to 454.5 mln miles from 374.1 mln miles.
    Year-to-date load factor rose 56.22 pct from 55.35 pct.
Revenue passenger miles rose 34.2 pct to 1.3 billion from 934.2
mln and available seat miles rose 32.2 pct to 2.2 billion from
1.7 billion.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7730" NEWID="18285">
<DATE> 2-JUN-1987 16:24:06.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2594&#31;reute
r f BC-CENTRAL-PENNSYLVANIA   06-02 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL PENNSYLVANIA &lt;CPSA.O> ADJUSTS RESULTS</TITLE>
<DATELINE>    SHAMOKIN, Pa., June 2 - </DATELINE><BODY>Central Pennsylvania Financial Corp
said its earnings for the year ended March 31 have been
adjusted downward by 126,000 dlrs to 3,005,000 dlrs.
    The company said the adjustment is due to today's Federal
Home Loan Bank Board announcement that the Federal Savings and
Loan Insurance Corp has cancelled the secondary reserve payment
from all its members.
    It said the adjusted net income of 3,005,000 dlrs, or 2.34
dlrs a share, compares to the previously reported 3,131,000
dlrs, or 2.44 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7731" NEWID="18286">
<DATE> 2-JUN-1987 16:24:13.80</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;f2595&#31;reute
r f BC-SWEET-VICTORY-&lt;SVICC.   06-02 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEET VICTORY &lt;SVICC.O> CONTINUES ON NASDAQ</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Sweet Victory Inc said its common stock
will continue to be listed in Nasdaq via an exception from the
capital and surplus requirement.
    The company said while it failed to meet this requirement
as of April 6, 1987, it was granted a temporary exception
subject to it meeting certain conditions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7732" NEWID="18287">
<DATE> 2-JUN-1987 16:24:23.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2596&#31;reute
r f BC-TRUSTCOMPANY-BANCORP   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>TRUSTCOMPANY BANCORP &lt;TCBC.O> UPS QTLY DIVIDEND</TITLE>
<DATELINE>    JERSEY CITY, N.J., June 2 - </DATELINE><BODY>Trustcompany Bancorporation
said the company is raising its cash dividend to 1.56 dlrs from
1.20 dlrs a share.
    The company said the dividend increase was based on a 43
pct increase in net income for 1986 and an additional 42 pct
increase in the first quarter of this year.
    Trustcompany said net income for the first three months of
1987 were 2.84 mln dlrs compared to two mln dlrs over the same
period last year.
   
    In addition, the company said it expects net income this
year to rise substantially over 1986, when the company reported
earnings of 8.8 mln dlrs or 7.24 dlrs per share.
    Trustcompany also said it plans to open 13 additional bank
branches, but did not disclose details.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7733" NEWID="18288">
<DATE> 2-JUN-1987 16:24:44.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>bahrain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2598&#31;reute
d f BC-GENERAL-ELECTRIC-&lt;GE>   06-02 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL ELECTRIC &lt;GE> SELLS ENGINES TO BAHRAIN</TITLE>
<DATELINE>    EVENDALE, Ohio, June 2 - </DATELINE><BODY>General Electric Co said the
Bahrain Amiri Air Force selected its engines to power 12 of its
General Dynamics Corp &lt;GD> fighter aircraft.
    The company did not disclose the price of the engines.
    The company said Bahrain was the fourth foreign nation to
select the engine. The others are the Greek, Israeli and
Turkish air forces, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7734" NEWID="18289">
<DATE> 2-JUN-1987 16:25:08.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2600&#31;reute
d f BC-SHAWMUT-&lt;SHAS.O>-CHAN   06-02 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>SHAWMUT &lt;SHAS.O> CHANGES NAME OF SUBSIDIARY</TITLE>
<DATELINE>    BOSTON, June 2 - </DATELINE><BODY>Shawmut Corp said it changed the name of
its subsidiary, First Gibraltar Mortgage Corp, to Shawmut First
Mortgage Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7735" NEWID="18290">
<DATE> 2-JUN-1987 16:25:25.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2601&#31;reute
d f BC-PIEDMONT-AIRLINES-&lt;PI   06-02 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>PIEDMONT AIRLINES &lt;PIE> REPORTS CARGO RESULTS</TITLE>
<DATELINE>    WINSTON-SALEM, N.C., June 2 - </DATELINE><BODY>Piedmont Airlines said its
total cargo load in April increased 39.5 pct compared to April
1986.
    Piedmont said in April 1987 it carried a total of 4,949,369
ton miles of cargo compared to 3,546,543 ton miles last April.
    In addition, the airline said in the first four months of
1987, total cargo load increased 30 pct to 18.2 mln ton miles
from 14.0 mln ton miles over the same period last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7736" NEWID="18291">
<DATE> 2-JUN-1987 16:26:06.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2604&#31;reute
r f BC-BRISTOL-MYERS-CO-&lt;BMY   06-02 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>BRISTOL-MYERS CO &lt;BMY> DECLARES DIVIDEND</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Bristol-Myers Co said it declared a
dividend of 35 cts a share on its common, reflecting the
two-for-one stock split approved at the May five annual meeting
of the company.
    The dividend is payable August one to shareholders of
record July three.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7737" NEWID="18292">
<DATE> 2-JUN-1987 16:26:48.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2608&#31;reute
r f BC-CBS/FOX-VIDEO-SEES-HI   06-02 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>CBS/FOX VIDEO SEES HIGHER 1987 REVENUES</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>CBS/Fox Video Co, an equal partnership of
CBS Inc &lt;CBS> and 20th Century-Fox Film Corp, expects revenues
for 1987 to exceed 400 mln dlrs, up from 361 mln dlrs last
year, President James Fifield said in an interview.
    Despite a leveling out of video recorder sales, Fifield
sees strong international business for the producer and
marketer of prerecorded videocassettes. He also said expansion
into non-theatrical products is bolstering results.
    Fifield was in Chicago to attend the summer Consumer
Electronics Show.
    CBS/Fox Video projects the industry will sell about 116 mln
units with a total manufacturers value of 3.3 billion dlrs.
    Fifield told Reuters his company will introduce "at least
20 of our best titles" in the fall to accommodate the new
Compact Disc-Video system.
    He also said CBS/Fox will support the new S-VHS, or Super
VHS high-resolution format with titles to match demand.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7738" NEWID="18293">
<DATE> 2-JUN-1987 16:28:20.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2616&#31;reute
r f BC-DANIEL-&lt;DAN>-UNIT-GET   06-02 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>DANIEL &lt;DAN> UNIT GETS PIPELINE CONTRACT</TITLE>
<DATELINE>    HOUSTON, June 2 - </DATELINE><BODY>Daniel Industries Inc said its
Measurement and Control Division has been awarded a contract
valued at about 7.5 mln dlrs by &lt;SPIE Capag S.A.> for metering
and control systerms for 11 stations on the USSR - Turkey
Pipeline System Project.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7739" NEWID="18294">
<DATE> 2-JUN-1987 16:28:38.12</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;f2618&#31;reute
r f BC-intermetco-ltd   06-02 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERMETCO LTD &lt;INT.TO> SIX MTHS APRIL 30 NET</TITLE>
<DATELINE>    HAMILTON, Ontario, June 2 -
    </DATELINE><BODY>Shr 18 cts vs 27 cts
    Net 283,000 vs 435,000
    Revs 97.8 mln vs 95.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7740" NEWID="18295">
<DATE> 2-JUN-1987 16:29:06.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2620&#31;reute
r f BC-S/P-DOWNGRADES-ALLEGH   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P DOWNGRADES ALLEGHENY INTL &lt;AG> SENIOR DEBT</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Standard and Poor's said it downgraded
446 mln dlrs of Allegheny International Inc's senior debt to
CCC from B-minus and subordinated debt to CCC-minus from
CCC-plus.
    Also downgraded to CCC-plus from B was the senior debt of a
unit Allegheny Sunbeam Corp. Allegheny's preferred stock was
affirmed at C.
    S and P cited further erosion in the firm's flexibility due
to a restrictive bank loan agreement and limited debt servicing
capability. In spite of restructuring efforts, the firm
reported first quarter losses of 38.5 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7741" NEWID="18296">
<DATE> 2-JUN-1987 16:35:13.36</DATE>
<TOPICS><D>instal-debt</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2631&#31;reute
u f BC-FED-TO-RELEASE-U.S.-A   06-02 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>FED TO RELEASE U.S. APRIL CONSUMER CREDIT JUNE 5</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Federal Reserve Board said it
would release April consumer instalment credit figures on
Friday.
    No fixed time was set for the release.
    Consumer credit fell a seasonally adjusted 63 mln dlrs in
March after rising 1.01 billion dlrs in February.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7742" NEWID="18297">
<DATE> 2-JUN-1987 16:35:43.98</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>senegal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2632&#31;reute
u f BC-U.S.-WHEAT-IN-SENEGAL   06-02 0128</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WHEAT IN SENEGAL MARKET -- USDA</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>After a highly favorable reception of
a trial batch of bread baked from 300 lbs of U.S. wheat flour
last February, the Senegalese appear ready to take delivery of
a first tranche of 10,500 tonnes of mixed U.S. wheat, the U.S.
Agriculture Department said.
    In its report on U.S. Export Markets for U.S. Grain, the
department noted Senegal had bought 100,000 tonnes of wheat
under the Export Enhancement Program last November, but local
opposition from millers, accustomed to French wheat, has been
delaying deliveries.
    As a result there were a series of baking seminars as well
as the trial batch, in an effort to satisfy local flour millers
and convince key officials of the qualities of U.S. wheat.
    The department said if deliveries of U.S. wheat to Senegal
remain on track, the U.S. could dominate a wheat market that
had been expected to import 140,000 tonnes of mostly French
wheat during the 1987/88 (July-June) season.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7743" NEWID="18298">
<DATE> 2-JUN-1987 16:36:35.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2636&#31;reute
u f BC-SEARS-&lt;S>-DOWNGRADED   06-02 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>SEARS &lt;S> DOWNGRADED BY E.F. HUTTON</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Sears, Roebuck and Co's stock was
downgraded one notch from a neutral rating, said E.F. Hutton
analyst Bernard Sosnick.
    The company's stock closed at 50, off 1-1/4.
    Sosnick said "sluggish sales cloud the economic picture and
concern about the outlook for credit income diminish Sears'
near-term investment prospects." He said the retail sales in
May were weak, which would mean sales have been below plan for
the past two months.
    Sosnick said indications are that Sears may not be as
strong a performer as other retailers.
    However, he said his earnings estimate for the company for
1987 remains unchanged at 4.50 dlrs a share compared to 3.62
dlrs a share in 1986. He added that "as a result of weakening
sales momentum, we have less confidence in that estimate."
    The analyst said it projects second quarter earnings in the
1.05 to 1.10 dlrs a share range, up from 77 cts a year ago. The
1987 estimate includes an 18 ct a share gain from the sale of
50 savings bank branches and strong earnings contribution from
Allstate Insurance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7744" NEWID="18299">
<DATE> 2-JUN-1987 16:38:43.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D><D>reagan</D><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2639&#31;reute
b f BC-/VOLCKER-LEAVING-DESP   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER LEAVING DESPITE REAGAN REQUESTS TO STAY</TITLE>
<AUTHOR>    By Peter Torday, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Paul Volcker's departure as Federal
Reserve Board chairman came despite pleas from the Reagan
administration that he stay at the helm of the U.S. central
bank, U.S. officials said.
    "The President made it very clear that he would be very,
very pleased had the chairman's decision been otherwise,"
Treasury Secretary James Baker said.
    A Reagan administration official, who asked not to be
identified, said Baker too had urged Volcker repeatedly in the
past several months to consider staying on as chairman.
    But there were no indications the administration had told
Volcker that it was in the national interest for him to stay
and that current global economic uncertainties required it.
    Associates of Volcker have assumed Volcker would only have
stayed on in such circumstances. "He doesn't care a lot,
emotionally, about a third term," Nikko Securities vice-chairman
Stephen Alixrod, until last year a top Fed staffer, told
Reuters recently.
    Officials are confident that newly-nominated chairman Alan
Greenspan will re-establish close working relations with Baker
and his credentials eventually will calm markets.
    One Reagan administration economic policymaker, who asked
not to be named, pointed out that Baker and Greenspan worked
together closely in the Ford administration.
    At the time, Baker was acting Secretary of Commerce and
Greenspan headed the President's Council of Economic Advisers.
    Reagan administration officials made clear, meanwhile, that
the announcement, precipitated by Volcker's unshakeable
decision to quit, came in order to clear up uncertainty ahead
of the Summit of leading industrial democracies in Venice.
    President Reagan might have been in an embarrassing
position if no decision had been made by then.
    Volcker enjoys the respect of most top economic officials
abroad, and is admired at the West German Bundesbank, and in
Tokyo, despite his criticism  of Japanese policies.
    Financial markets, possibly reflecting some of the
disappointment in foreign capitals, drove the dollar sharply
lower on news of his departure, prompting central bank
intervention to stem the fall, dealers said.
    Finance Ministries and central banks of the other summit
nations -- Japan, West Germany, Britain, France, Italy and
Canada -- were informed shortly before the news was announced,
Baker told reporters today.
    Monetary sources also said one reason Volcker decided to
resign was his personal financial situation and his marriage 
-- his wife lives in New York and did not want him to take up a
second term in mid-1983.
    Volcker has foregone potentially million-dollar salaries to
a life almost overwhelmingly devoted to public service at pay
rates low relative to his financial commitments.
    Both these reasons at one time prompted him to consider
stepping down before his second term was completed.
    But Volcker also hinted there might be more than personal
reasons for his decision. "It was a personal decision, taking
account of a lot of things, including purely personal
considerations and others," he told reporters.
    Fed sources note Volcker's considerable unease at the lack
of progress by the administration in reaching a budget deficit
reduction agreement.
    In addition, Volcker would have faced four more years with
a Board that he was less than comfortable with, monetary
sources say. The other five members are Reagan appointees.
    What may unsettle markets, however, is the fact that the
Fed governors now have only six to seven years' collective
experience between them, at a time of great financial
uncertainty.
    Analysts said that while Greenspan might well be considered
as tough an inflation-fighter as Volcker, his Republican
credentials could make him more of a political Fed chairman
than Volcker.
    An administration official said Volcker was consulted on
Greenspan "and very much approved of his replacement."
    But one analyst compared Greenspan's relationship to the
administration, to whom he has been an unofficial economic
adviser, with the relationship former chairman Arthur Burns had
with the Nixon administration.
    Burns was somewhat more sympathetic to the administration
viewpoint than Volcker has been, and Burns was less willing to
make radical policy changes.
    Making clear his decision was a strong one, Volcker told
reporters, "I told (Reagan) with considerable definitiveness
yesterday." Administration officials said Volcker arrived at the
White House yesterday afternoon with his resignation.
    When renominated in mid-1983, Volcker said he would
probably step down within two years. Monetary sources said the
departure of Donald Regan as Treasury Secretary was one factor
that convinced him to stay on. Regan and Volcker clashed almost
from the start of the administration.
    Another, these sources said, was the prospect of being able
to work with Baker as Treasury Secretary to tackle the
international debt crisis and deal with the then high-flying
dollar.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7745" NEWID="18300">
<DATE> 2-JUN-1987 16:40:49.41</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;f2644&#31;reute
r f BC-PREFERRED   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>PROFESSOR LIFTS BANC TEXAS &lt;BTX> PREFERRED STAKE</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>A University of Massachusetts finance
professor said he raised his stake in Banc Texas Group Inc to
45,340 shares of 1.4625 dlr cumulative preferred stock, or 7.4
pct of the total, from 30,300 shares, or 5.0 pct.
    In a filing with the Securities and Exchange Commission,
Ben Shirley Branch also said he bought 52,025 shares of Class A
cumulative convertible preferred stock, or 5.9 pct of the
total, for 160,000 dlrs, bringing his total investment in both
preferred series to about 330,000 dlrs.
    Branch said he bought the stock as an investment, but
reserved the right to try to influence the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7746" NEWID="18301">
<DATE> 2-JUN-1987 16:45:10.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2654&#31;reute
u f BC-AHMANSON-&lt;AHM>-TO-TAK   06-02 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>AHMANSON &lt;AHM> TO TAKE 2ND QTR WRITEOFF</TITLE>
<DATELINE>    LOS ANGELES, June 2 - </DATELINE><BODY>H.F. Ahmanson and Co said second
quarter earnings will include the write-off of the company's 24
mln dlr investment in the Federal Savings and Loans Insurance
Corporation.
    The company also said it will postpone planned second
quarter sales of up to one billion dlrs of adjustable rate
mortgage-backed securities because secondary market premiums
have temporarily contracted.
   
    It said the write-off will reduce net earnings for the
quarter and year by about 13 cents per share and the
postponement of securities sales will defer about 30 cts per
share of profits to subsequent quarters.
    The company said the write-off of the FSLIC asset was
prompted by a recent General Accounting Office report that
declared the FSLIC technically insolvent.
    The company said it also received a letter from the FSLIC
informing Ahmanson that it will not honor its long-standing
obligation to Ahmanson's Home Savings of America unit, as well
as to hundreds of other thrifts.
   
    The company said the letter stated that Ahmanson's
investment should be written off in May.
    The company reported second quarter net income last year of
76.6 mln dlrs, or 80 cts per share. Ahmanson reported 1986 net
income of 303.6 mln dlrs, or 3.22 dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7747" NEWID="18302">
<DATE> 2-JUN-1987 16:46:39.70</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f2657&#31;reute
d f AM-TEXTILES   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTMENT CRUCIAL TO U.S. TEXTILE RECOVERY</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>With more private investment, not more
protection, the U.S. textile industry could become competitive
with the most modern foreign producers, analysts from two
congressional agencies said today.
    The Office of Technology Assessment, a nonpartisan arm of
Congress told a House Ways and Means Trade Subcommittee hearing
there was still concern for the future of parts of the U.S.
textile and apparel industry, but there was more reason for
optimism than a few years ago.
    "While textile producers are making significant
investments, they could do more," OTA analyst Henry Kelly said.
    The Congressional Budget Office (CBO), the nonpartisan
budget analysis arm of Congress, said federal loans or loan
guarantees would be preferable options for Congress rather than
increased trade protection which could lead to foreign
retaliation.
    CBO analyst Edward Gramlich said past trade protections,
first imposed in the 1950's have had only a small benefit for
profits and investments of domestic firms.
    Trade Subcommittee chairman, Rep. Sam Gibbons, said the
agencies analyses seemed to agree with his opinion against
congressional approval of protectionist textile quota
legislation aimed mainly at Western Europe, Japan and other
Asian textile producing countries.
    President Reagan last year vetoed a textile protection bill
but it was reintroduced in this session of Congress and is
expected to be voted on in the House this year.
    However, approval this year is in doubt because passage of
a major trade bill without specific protections for textiles
showed a weakening of support for the legislation.
    Most U.S. producers have fallen behind other foreign
producers in the use of modern textile and apparel production
equipment and net imports are growing faster than the domestic
markets, Kelly said.
    He added that private investment in the textile and
clothing industry in 1983 of 0.5 pct was less than one-seventh
the average manufacturing investment of 3.9 pct.
    Despite existing import quotas and tariffs, imports of
textiles grew 26 pct in 1986 and imports of apparel grew 14 pct
while U.S. production rose only 1.9 pct.
    "The traditional industry seems destined to be replaced by
new technology, imports, or some combination of both. While the
industry may not be able to compete in all domestic markets
that it enjoyed twenty years ago, the results of our research
indicate that portions of the domestic market can be recovered,
and that exports can be expanded," Kelly said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7748" NEWID="18303">
<DATE> 2-JUN-1987 16:47:30.55</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;f2659&#31;reute
a f BC-&lt;IONE-INC>-SIX-MONTHS   06-02 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;IONE INC> SIX MONTHS MARCH 31 NET</TITLE>
<DATELINE>    MINNEAPOLIS, June 2 -
    </DATELINE><BODY>Shr two cts vs n.a.
    Net 68,281
    Revs 639,471
    NOTE: Company became public in March 1987
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7749" NEWID="18304">
<DATE> 2-JUN-1987 16:47:34.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2660&#31;reute
s f BC-FGIC-CORP-&lt;FGC>-QTLY   06-02 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>FGIC CORP &lt;FGC> QTLY DIVIDEND</TITLE>
<DATELINE>    NEW YORK, June 2 -
    </DATELINE><BODY>Qtly div one cts vs one cts prior
    Payable July 1
    Record June 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7750" NEWID="18305">
<DATE> 2-JUN-1987 16:48:59.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2665&#31;reute
h f BC-DI-INDUSTRIES-FLORIDA   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>DI INDUSTRIES FLORIDA UNIT GETS WATER CONTRACT</TITLE>
<DATELINE>    HOUSTON, June 2 - </DATELINE><BODY>Drillers Inc of Florida, a unit of &lt;DI
Industries Inc>, formerly Drillers Inc &lt;DRL>, said it has
received two separate contracts for water injection projects
valued at 408,500 dlrs and 850,000 dlrs respectively.
    DI Industries said another unit, Drillers Inc of Texas
completed a 560,000-dlr Department of Defense project which
involved drilling a vertical firing shaft for the department's
R and D Railgun.
    DI said the projects represented efforts of the company to
diversify from its traditional oil and gas drilling contracts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7751" NEWID="18306">
<DATE> 2-JUN-1987 16:50:53.19</DATE>
<TOPICS><D>grain</D><D>oilseed</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2673&#31;reute
u f BC-RAINS-AID-MANITOBA-CR   06-02 0128</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINS AID MANITOBA CROPS DURING WEEK</TITLE>
<DATELINE>    WINNIPEG, June 2 - </DATELINE><BODY>Widespread, soaking rains aided crop
development across the province, with the northwest crop
producing region receiving the most precipitation, according to
the Manitoba Agriculture weekly crop report.
    The rains replenished formerly low soil moisture reserves,
with reserves in all areas now rated good, the report said.
    Plantings were virtually complete across the province and
germination was well advanced. However, some fields still
showed spotty stands.
    Cereal crops in the southwest were 90 pct germinated, with
some fields already in the subsequent tillering stage, it said.
Oilseeds in the northwest region were about 80 pct emerged in
many areas, with other regions 50 to 70 pct emerged.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7752" NEWID="18307">
<DATE> 2-JUN-1987 16:55:06.57</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;f2691&#31;reute
r f BC-ATLAS-YELLOWKNIFE-&lt;AY   06-02 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>ATLAS YELLOWKNIFE &lt;AY.TO> SIX MTHS LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, June 2 - </DATELINE><BODY>Period ended March 31
    Shr loss nil vs profit one ct
    Net loss 36,000 vs profit 310,000
    Revs 1,172,000 vs 1,686,000
    Note: Full name Atlas Yellowknife Resources Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7753" NEWID="18308">
<DATE> 2-JUN-1987 16:56:26.87</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;f2692&#31;reute
r f BC-woodward's-ltd   06-02 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>WOODWARD'S LTD &lt;WDSA.TO> 1ST QTR MAY 2 LOSS</TITLE>
<DATELINE>    VANCOUVER, British Columbia, June 2 -
    </DATELINE><BODY>Shr loss 32 cts vs loss 37 cts
    Net loss 5,374,000 vs loss 6,159,000
    Revs 241.3 mln vs 253.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7754" NEWID="18309">
<DATE> 2-JUN-1987 16:56:54.29</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;f2694&#31;reute
u f BC-COMMONWEALTH-MORTGAGE   06-02 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH MORTGAGE CO INC &lt;CCMC.O> 4TH QTR</TITLE>
<DATELINE>    WELLESLEY, Mass., June 2 - </DATELINE><BODY>Qtr ended April 30.
    Shr 32 cts vs 20 cts
    Net 1,982,000 vs 1,022,000
    Year
    Shr 1.22 dlrs vs 59 cts
    Net 7,005,000 vs 3,030,000
    Assets 191.3 mln vs 116.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7755" NEWID="18310">
<DATE> 2-JUN-1987 16:57:09.83</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;f2696&#31;reute
r f BC-CENTRAL-MAINE-&lt;CTP>-S   06-02 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL MAINE &lt;CTP> SEEKS COGENERATOR SPONSORS</TITLE>
<DATELINE>    AUGUSTA, Maine, June 2 - </DATELINE><BODY>Central Maine Power Co said it
issued a request for proposals for about 150 project sponsors
of cogeneration and small power production projects.
    The utility said it is soliciting proposals to fill about
100 megawatts of commitments to the Maine Public Utilities
Commission. The avoided costs which will be paid for power
produced by these projects will be based on costs negotiated
between Central Maine and Hydro-Quebec for planned power
purchases beginning in 1992.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7756" NEWID="18311">
<DATE> 2-JUN-1987 16:57:33.71</DATE>
<TOPICS><D>gas</D><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2698&#31;reute
f f BC-******API-SAYS-DISTIL   06-02 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>API SAYS DISTILLATE STOCKS UP 2.85 MLN BBLS, GASOLINE OFF 2.37 MLN, CRUDE OFF 1.13 MLN 
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7757" NEWID="18312">
<DATE> 2-JUN-1987 16:59:03.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2701&#31;reute
u f BC-REAGAN-NAMES-ROGERS-T   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN NAMES ROGERS TO NUCLEAR AGENCY</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>President Reagan is to nominate
Kenneth Rogers, president of the Stevens Institute of
Technology, to be a member of the Nuclear Regulatory
Commission, the White House said.
    Rogers, 58, would succeed James Asseltine for a five-year
term expiring June 30, 1992. He has has been president of the
Stevens Institute, in Hoboken, N.J., since 1972. He was
previously acting provost and dean of faculty.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7758" NEWID="18313">
<DATE> 2-JUN-1987 16:59:17.55</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;f2703&#31;reute
u f BC-STOCKHOLDERS-WON'T-PU   06-02 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>STOCKHOLDERS WON'T PURSUE CONTINENTAL &lt;CUO> BID</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Continental Associates, a group of four
shareholders who hold about 5.02 pct of of Continental
Materials Corp stock, said it will not pursue a tender offer
for all of its shares.
    The shareholders said they were told that Continental
Materials directors had no interest in selling the company.
    Late yesterday, Continental Materials board said it decided
not to give further consideration to a "business combination"
proposed by the group of St. Louis businessmen.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7759" NEWID="18314">
<DATE> 2-JUN-1987 17:00:16.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2706&#31;reute
r f BC-BELL-ATLANTIC-&lt;BEL>-F   06-02 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL ATLANTIC &lt;BEL> FILES FOR NEW YORK SERVICE</TITLE>
<DATELINE>    BASKING RIDGE, N.J., June 2 - </DATELINE><BODY>Bell Atlantic Mobile Systems
said it filed with the New York Public Service Commission
proposed retail rates to market mobile telephone services in
the metropolitan New York City area.
    The company expects the rates to go into effect July 1,
after a 60-day statutory period, pending regulatory approval.
    It said the approved price structure is the last regulatory
step before the company begins marketing cellular service and
equipment in northern New Jersey.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7760" NEWID="18315">
<DATE> 2-JUN-1987 17:04:15.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-africa</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2718&#31;reute
u f BC-SUBCOMMITTEE-APPROVES   06-02 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S SUBCOMMITTEE APPROVES DEVELOPMENT BANK FUNDS</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>A House Banking subcommittee approved
a bill authorizing U.S. contributions to the International
Development Association, the Asian Development Fund and the
Afrian Development Bank.
    The bill authorizes 2.875 billion dlrs as the U.S.
contribution to the eighth replenishment of the International
Development Association, 584.3 mln dlrs to the Asian
Development Fund and 719.5 mln dlrs to buy 59,648 shares of the
capital stock of the African Development Bank.
    The bill, which now goes to the full Banking Committee,
includes an amendment opposing U.S. approval of development
bank loans for commodities in surplus in the world and which
are intended for export.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7761" NEWID="18316">
<DATE> 2-JUN-1987 17:10:14.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E RM A
&#22;&#22;&#1;f2731&#31;reute
r f BC-BANK-OF-CANADA-WELCOM   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF CANADA WELCOMES GREENSPAN APPOINTMENT</TITLE>
<DATELINE>    OTTAWA, June 2 - </DATELINE><BODY>The Bank of Canada, the country's central
bank, believes economist Alan Greenspan was a sound choice to
replace retiring U.S. Federal Reserve Chairman Paul Volcker, a
spokesman for the bank said.
    "Mr. Greenspan is well known to the bank. He's had a lot of
experience. He's very capable, and with Mr. Volcker's decision
not to seek reappointment, he's a sound choice," said Roy
Flett, associate secretary for the bank.
    Flett said, "the Bank of Canada has enjoyed an excellent
relationship with Mr. Volcker during his terms and has only the
greatest respect for his performance."
    Economists said the appointment was extremely important to
Canada because the country's monetary policy is closely linked
with that of the U.S.
    "Basically, we have chosen ... to march in lockstep with
U.S. monetary policy, so really in some sense this is our
central banker that has just been appointed as well," said Mike
McCracken, head of Infometrica Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7762" NEWID="18317">
<DATE> 2-JUN-1987 17:11:03.96</DATE>
<TOPICS><D>acq</D><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2735&#31;reute
u f BC-PHELPS-DODGE-&lt;PD>-SET   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>PHELPS DODGE &lt;PD> SETS SIGHTS ON ACQUISITION</TITLE>
<AUTHOR>    By Steven Radwell, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Phelps Dodge Corp chairman G. Robert
Durham said the company is prepared to make another large
non-copper acquisition and that a deal could be struck in the
near future.
    In an interview with Reuters, Durham said the company was
examining potential candidates but not yet talking with any.
    He declined to name the companies but said a deal could
occur as soon as the second half of 1987.
   
    Phelps Dodge, which ranks as the largest copper producer in
the U.S., last year paid 240 mln dlrs for Columbian Chemicals
Co, a maker of carbon black which is used in rubber and tires
among other products.
    The purchase was part of a strategic plan to diversify and
eventually match earnings from non-copper operations and copper
operations.
    Phelps Dodge could spend between 250 mln and 500 mln dlrs
to buy another non-copper company, Durham said, citing about
100 mln dlrs of cash and 580 mln dlrs of untapped bank credit.
   
    Any acquisition candidate would have to have a different
economic cycle than copper, substantial earnings and good
management, he said. Phelps Dodge would only want a friendly
deal, he added.
    "We're not talking high-tech, or financial services or
about a perfume company," he said. "We want a good basic
industrial company that will fit into our management
structure," Durham said.
   
    During the interview, Durham and other executives also said
continued strong demand and tight copper supply should lead to
higher prices for the metal.
    "In my view, it's not a matter of if but when the price
(for copper) will improve because there aren't that many new
projects coming on, and demand, short of a major recession,
will continue to grow modestly," said executive vice president
Douglas Yearley. Phelps Dodge continues to lower its cost of
producing copper, the executives said. Costs should be below 50
cents a pound, after depreciation but before interest and
corporate expense, by 1989 or 1990.
    Production costs are about 56 to 57 cents a pound now
compared to one dlr a pound in 1981, some Wall St analysts
said.
    Durham said copper supplies are lower than they have been
for almost 20 years and demand continued to be strong.
    He declined to project results for the second quarter or
year. But he said the quarter was going well and the rise in
copper prices in the last month will help results.
    Durham said last month that the second quarter should match
the first quarter when earnings rose about 11 pct to 16.8 mln
dlrs or 49 cts a share.
    First quarter sales rose 61.5 pct to 372.9 mln dlrs,
reflecting the acquisition of Columbian Chemicals and increased
copper shipments from the Chino copper mine in New Mexico, also
acquired last year.
    Analysts are projecting 1987 earnings of 2.20 dlrs to 2.75
dlrs a share, up sharply from 1.79 dlrs in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7763" NEWID="18318">
<DATE> 2-JUN-1987 17:11:13.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2736&#31;reute
u f BC-LILLY-&lt;LLY>-TO-PAY-RO   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>LILLY &lt;LLY> TO PAY ROCHE ROYALTIES ON HUMATROPE</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Hoffman-LaRoche Inc said Eli Lilly and
Co Inc will pay it royalties on the sale of Lilly's human
growth hormone, Humatrope, as part of an earlier-reported
licensing agreement between the companies.
    Hoffman-La Roche spokesman John Doorley declined to
disclose the amount of the royalty payments.
    "Lilly has taken the position of respecting our patent by
paying us roylaties," said Doorley. "We are hopeful that other
companies will respect that position," he said.
    Roche is the licensee of a Hormone Research Foundation
patent for a synthetic version of human growth hormone.
   
    Last September, Roche and the Foundation sued Genetech Inc
&lt;GENE> alleging Genetech's product, Protropin, a human growth
hormone, infringed on Hoffman's patent for the hormone.
    Last year Genetech's sales of Protropin were about 35 mln
dlrs. David Saks, drug analyst with Morgan Olmstead, Kennedy
and Gardner in New York, said Genetech's and Lilly's product
can each bring in about 50 mln dlrs in sales annually.
    Other companies developing human growth hormone include
Biotechnology General Corp. Roche's Doorley said the company
had at one time started developing a growth hormone but decided
to put its efforts into other products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7764" NEWID="18319">
<DATE> 2-JUN-1987 17:15:20.60</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2746&#31;reute
f f BC-******MERCANTILE-BANC   06-02 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MERCANTILE BANCORP SEES 2ND QTR LOSS OF 33 MLN DLRS, YEAR PROFIT OF TWO MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7765" NEWID="18320">
<DATE> 2-JUN-1987 17:15:56.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2748&#31;reute
s f BC-PACIFIC-LIGHTING-CORP   06-02 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC LIGHTING CORP &lt;PLT> SETS QTLY DIV</TITLE>
<DATELINE>    LOS ANGELES, June 2 -
    </DATELINE><BODY>Shr 87 cts vs 87 cts prior
    Pay August 14
    Record July 20
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7766" NEWID="18321">
<DATE> 2-JUN-1987 17:16:33.71</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2749&#31;reute
u f BC-TREASURY-TO-PUBLISH-U   06-02 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY TO PUBLISH U.S. RESERVE ASSETS MONTHLY</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Treasury Department said it would
release data on U.S. reserve assets on a monthly basis from now
on instead of quarterly.
    Reserve assets are held in gold, special drawing rights
with the Internatinal Monetary Fund, foreign currencies and in
a U.S. reserve position in the IMF.
    Assets totaled 46.59 billion dlrs at the end of April,
compared with 48.82 billion dlrs at the end of March, the
Treasury said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7767" NEWID="18322">
<DATE> 2-JUN-1987 17:17:07.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2751&#31;reute
s f BC-ALASKA-AIR-GROUP-INC   06-02 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>ALASKA AIR GROUP INC &lt;ALK> SETS QTLY DIV</TITLE>
<DATELINE>    TALKEETNA, Alaska, June 2 -
    </DATELINE><BODY>Shr four cts vs four cts prior
    Pay August 5
    Record July 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7768" NEWID="18323">
<DATE> 2-JUN-1987 17:26:06.99</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2774&#31;reute
r f BC-mexico-says-has-no-pl   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>MEXICO HAS NO PLANS TO LEAVE ICO</TITLE>
<DATELINE>    MEXICO CITY, June 2 - </DATELINE><BODY>Mexico has no intention of leaving
the International Coffee Organization (ICO), in the event of
Brazil withdrawing from the group, the Mexican Coffee Institute
(IMC) said.
    The IMC said in a statement the ICO is an important
instrument for ensuring producers obtain an adequate price.
Mexico currently produces around five mln 60-kilo bags of
coffee per year.
    Brazil said during a meeting of coffee producers in Rio de
Janeiro over the weekend that it would consider leaving the ICO
if its export quota was reduced by the organization.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7769" NEWID="18324">
<DATE> 2-JUN-1987 17:26:50.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2776&#31;reute
b f BC-MERCANTILE-&lt;MTRC.O>-R   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCANTILE &lt;MTRC.O> RAISES RESERVE, SEES LOSS</TITLE>
<DATELINE>    ST. LOUIS, June 2 - </DATELINE><BODY>Mercantile Bancorp Inc said it will add
a special provision of 75 mln dlrs to its reserve for possible
loan losses in the second quarter, and expects to report a loss
of 33 mln dlrs during the period.
    The company estimated it will report net income of two mln
dlrs during the full year 1987.
    Mercantile Bancorp said the additional provision represents
28.5 pct of Mercantile Bancorp's 263 mln dlrs in total
outstanding loans to Latin American countries. The special
provision will raise the reserve to 148 mln dlrs, or 3.1 pct of
the company's 4.7 billion dlrs total loans.
    Mercantile Bancorp earned 19.5 mln dlrs in last year's
second quarter, or 1.23 dlrs a share, and 55.6 mln dlrs, or
3.50 dlrs a share for the full year 1986.
    Mercantile Bancorp's reaffirmed its intention to continue
the present dividend and to follow its normal policy of basing
future dividends on anticipated earnings from ongoing business.
    "It now appears the adjustment process for heavily indebted
countries could stretch into the 1990's, and these
restructurings may have negative economic effects on the loan
portfolio," Mercantile Bancorp said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7770" NEWID="18325">
<DATE> 2-JUN-1987 17:33:00.09</DATE>
<TOPICS><D>acq</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2786&#31;reute
d f BC-AMOCO-&lt;AN>-SAYS-DOME   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>AMOCO &lt;AN> SAYS DOME &lt;DMP> BUY GOOD FOR CANADA</TITLE>
<DATELINE>    EDMONTON, Alberta, June 2 - </DATELINE><BODY>Amoco Corp's wholly owned Amoco
Canada Petroleum Co Ltd said its proposed 5.22-billion-
Canadian-dlr acquisition of Dome Petroleum Ltd will benefit
Canada just like the foreign investment that made possible
commercial development of Alberta's oilsands.
    Amoco Canada president T. Don Stacy told an oilsands
conference that "Amoco Canada has presented the solution to the
Dome problem, and we're investing our confidence, dollars and
determination to make that solution work."
    The Amoco buyout of debt-burdened Dome has angered Canadian
nationalists, who want a Canadian buyer for Dome.
    Stacy described Amoco Canada's previously reported share
offer proposal as a chance to increase Canadian ownership of
the country's oil and gas industry, now at about 50 pct.
    He reiterated that Amoco planned virtually no layoffs of
Dome employees. He also reaffirmed that Amoco would reinvest in
Amoco Canada-Dome properties all available cash flow for five
years after the acquisition.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7771" NEWID="18326">
<DATE> 2-JUN-1987 17:36:38.22</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;f2789&#31;reute
r f BC-MINNTECH-CORP-&lt;MNTX.O   06-02 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>MINNTECH CORP &lt;MNTX.O> 4TH QTR MAR 31 NET</TITLE>
<DATELINE>    MINNEAPOLIS, June 2 -
    </DATELINE><BODY>Opr shr nil vs seven cts
    Opr net 3,000 vs 99,000
    Revs 2,745,000 vs 2,395,000
    Avg shrs 1,500,000 vs 1,375,000
    Year
    Opr shr 24 cts vs 20 cts
    Opr net 343,000 vs 271,000
    Revs 10.7 mln vs 8,232,000
    Avg shrs 1,459,000 vs 1,341,000
    NOTE: Earnings for year exclude gains due to tax loss
carryforward of 210,000 dlrs or 14 cts a share in 1987 and
198,000 dlrs or 15 cts in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7772" NEWID="18327">
<DATE> 2-JUN-1987 17:46:44.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2805&#31;reute
u f BC-TCBY-&lt;TCBY.O>-WITHDRA   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TCBY &lt;TCBY.O> WITHDRAWS REGISTRATION</TITLE>
<DATELINE>    LITTLE ROCK, Ark., June 2 - </DATELINE><BODY>TCBY Enterprises Inc said it
will apply to the Securities and Exchange Commission to
withdraw its registration statement filed May 14 for 30 mln
dlrs of subordinated convertible debentures due to unfavorable
market conditions.
    THe company said other forms of financing available to the
company and working capital are more than sufficient to fund
the uses for which the proceeds of the debentures offering were
to be applied.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7773" NEWID="18328">
<DATE> 2-JUN-1987 17:46:59.12</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y A RM
&#22;&#22;&#1;f2806&#31;reute
r f AM-GULF-CONGRESS   06-02 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PASSES GULF BILL DESPITE OPPOSITION</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The U.S. House of Representatives 
approved a bill that requires the Reagan administration to
provide Congress with a report on its Gulf policy but does not
place any restrictions on its actions.
    The bill passed 305-102 -- winning a necessary two-thirds
of those voting -- despite a last-minute revolt by an alliance
of liberal Democrats and conservative Republicans who sought to
defeat it as a signal that a growing number of legislators
oppose President Reagan's policies in the region.
    The legislation was passed in the wake of the May 17th
Iraqi missile attack on the U.S. frigate Stark in the Gulf,
which killed 37 Americans, and Reagan's decision to protect 11
Kuwaiti oil tankers by putting them under U.S. flags --
effectively making them American ships.
    The legislation -- supported by Congress' Democratic and
Republican leadership as well as by the administration --
required Defense Secretary Caspar Weinberger to provide a
report to Congress, within seven days of enactment, on plans to
protect U.S. warships and flag ships in the Persian Gulf.
    It did not, however, place any restrictions on the
administration as it proceeds to reflag the Kuwaiti ships and
thus has no immediate effect on U.S. policy.
    The Senate was expected to approve the legislation this
week. The bill would then be sent to Reagan for signature.
    Supporters of the bill said passage of the bill was only a
first step toward a greater congressional involvement in
formulating policy.
    But Democratic critics said the bill did not ask the
administration to address tough policy questions in the report.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7774" NEWID="18329">
<DATE> 2-JUN-1987 17:49:58.91</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>kuwait</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2810&#31;reute
r f AM-GULF-KUWAIT   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE TEAM WANTS MULTINATIONAL GULF FORCE</TITLE>
<DATELINE>    KUWAIT, June 2 - </DATELINE><BODY>The leaders of a U.S. Senate team probing
American defense strategy in the MidEast Gulf said they favored
a multinational force to keep oil flowing through the waterway.
    Sen. John Glenn and John Warner, in Kuwait as part of a
Gulf Arab tour, said at a news conference that top officials in
the area appeared ready to discuss extra facilities needed if
the U.S. upgraded its defense role.
    The Senate team next heads for the United Arab Emirates,
their last stop on a fact-finding mission prompted by Reagan
administration plans to let half of Kuwait's 22-tanker fleet
fly the U.S. flag.
    Glenn and Warner said the U.S., Britain and France, should
explore the possibility of a unified Gulf force.
    "The American ships, the British ships, the French ships now
talk to each other and all we've got to do is formalize this
arrangement," Warner said.
    Glenn said a multinational force could be effectively
deployed within 24 hours of a decision.
    Glenn voiced a preference for a United Nations
multinational force, or failing that, an American, British,
French force with cooperation from the Gulf Arab states.
    Warner voiced concern that the Soviet Union might use the
situation in the Gulf to raise its presence. "And,
unequivocally, all GCC states we have talked with, have said
that would not be in the interests of the Arabian peninsula."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7775" NEWID="18330">
<DATE> 2-JUN-1987 17:52:32.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>nicaragua</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f2813&#31;reute
r f AM-IRANARMS-1STLD   06-02 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>ABRAMS SAYS HE "HONEST BUT WRONG"</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Assistant Secretary of State Elliott
Abrams said he was "completely honest and completely wrong" when
he gave assurances last October that the U .S. government was
not involved in a flight by a contra supply plane downed over
Nicaragua.
    He was being questioned by the congressional Iran-contra
panel about testimony he gave to the House Foreign Affairs
Committee on October 15, 1986, saying no U.S. intelligence,
defense or other government official was involved in the
flight.
    "I made those statements and I made a similar statement on
October 14 to Secretary (of State George) Shultz. And every one
of those statements was completely honest and completely wrong,"
Abrams testified.
    Two of the crew of the downed aircraft, operating out of El
Salvador, were killed. The third, Eugene Hasenfus, was
captured, tried and sentenced to 30 years' jail, but later
released by the Nicaraguan authorities.
    Abrams -- the highest-ranking member of the administration
to testify in five weeks of televised hearings -- said he did
not remember how he learned that the plane had been shot down,
but thought it was probably from the CIA.
    He said he made public statements within a couple of days
that there had been no U.S. government involvement after making
inquiries of the CIA, the National Security Council and the
Pentagon.
    "Everybody said, not only then but later, that there was no
U.S. government role," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7776" NEWID="18331">
<DATE> 2-JUN-1987 18:00:17.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2829&#31;reute
u f BC-ALLEGIS   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>CONISTON ASKS DOT TO REVIEW ALLEGIS-BOEING DEAL</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>A New York investment partnership
seeking control of Allegis Corp &lt;AEG> disclosed that it has
asked the Department of Transportation to review a 700 mln dlr
note agreement Allegis has with Boeing Co &lt;BA>.
    Citing what it called serious competitive and public
interest concerns in the deal, Coniston Partners, which holds
about 13 pct of Allegis asked the department to assert its
jurisdiction in the matter and require the two companies to
seek its approval for the transaction.
    In a petition to the department, contained in a filing with
the Securities and Exchange Commission, Coniston also claims
Boeing, a major aircraft manufacturer, has obtained control
over Allegis, parent of United Airlines, by virtue of the May
12 deal between the two companies.
    Under the deal, Boeing bought from Allegis 700 mln dlrs of
convertible notes due May 31, 1992 simultaneously with a 2.1
billion dlr aircraft order United placed with Boeing.
    Coniston said the notes give Boeing control over Allegis
and warned that the relationship between the two companies
raises antitrust issues and should be scrutinized closely.
    "The world's largest manufacturer of aircraft should not be
permitted to acquire control over one of the nation's largest
airlines without an opportunity for public comment and fact
finding and scrutiny by the regulatory agency having
jurisdiction over the air transporation marketplace," Coniston
said in its petition.
    Coniston, calling itself the Allegis Investors Group in the
petition, said the department should force Allegis and Boeing
to make the required regulatory filings.
    Coniston is currently seeking control of Allegis by winning
majority representation on its board of directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7777" NEWID="18332">
<DATE> 2-JUN-1987 18:02:54.73</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y A F
&#22;&#22;&#1;f2833&#31;reute
r f AM-COLOMBIA-GUERRILLAS   06-02 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOMBIAN GROUP SUSPENDS BOMBINGS OF PIPELINES</TITLE>
<DATELINE>    BOGOTA, June 2 - </DATELINE><BODY>A Colombian group announced the suspension
of its bombings of oil pipelines pending the government's levy
of a social tax on foreign petroleum companies and an 800 mln
dlrs fine on the Occidental Petroleum Corp &lt;OXY>.
    There was no indication the government would meet the
conditions demanded by the leftist National Liberation Army
(ELN).
    According to the state oil firm, ECOPETROL, the ELN carried
out 72 attacks on petroleum pipelines between 1984 and 1986.
    The assaults, the most recent launched two months ago, have
caused an estimated total of 50 mln dlrs in damage.
    In a communique, the ELN said it would demand a tax of one
dollar per barrel of crude oil pumped by foreign firms as a
condition for maintaining its suspension of the assaults.
    Foreign oil firms pump an average of 225,083 barrels per
day in Colombia. Colombian tax authorities are investigating
Occidental, a U.S.-owned firm, for alleged tax evasion.
    If the charges are proven, the firm could face a fine of up
to 800 mln dlrs. The ELN demands the government charge the
penalty.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7778" NEWID="18333">
<DATE> 2-JUN-1987 18:03:46.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2834&#31;reute
d f BC-CFTC-CLARIFIES-COMMOD   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CFTC CLARIFIES COMMODITY TRADING ADVISOR RULES</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The U.S. Commodity Futures Trading
Commission (CFTC) released guidelines on how commodity trading
advisors (CTA) should calculate "beginning net asset value"
(BNAV) for purposes of computing rates of return required by
commission disclosure rules.
    The commission said it was compelled to release the
guidelines because it has received disclosure documents which
indicate "serious differences" in the way certain CTAs are
defining BNAW -- "differences that may have compromised the
ability to compare rates of return among different advisors."
    CFTC said CTAs must only use funds under their control or
in conjunction with their carrying futures commission merchants
in calculating BNAV.
    Computation of BNAV must exclude any item that is not
money, securities or other tangible property and any funds that
are not under the control of the CTA, or CTA in conjunction
with its carrying futures commission merchant.
    CFTC said "notational" funds must be excluded because they
are merely verbal promises to furnish funds.
    Funds in a commodity trading account over which a CTA has
discretionary trading authority must be included, CFTC said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7779" NEWID="18334">
<DATE> 2-JUN-1987 18:06:47.53</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;f2839&#31;reute
u f BC-MIDWAY   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTMENT FIRMS HAVE 7.7 PCT OF MIDWAY &lt;MDWY.O></TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Two affiliated investment firms told
the Securities and Exchange Commission they have acquired
593,000 shares of Midway Airlines Inc, or 7.7 pct of the total
outstanding common stock.
    The firms, Boston-based FMR Corp and Fidelity International
Ltd, a Bermuda-based investment advisory firm, said they bought
the stake "to acquire an equity interest in the company in
pursuit of specified investment objectives...."
    The firms said they may increase or decrease their stake in
the company, but have no plans to seek control of the company
or representation on its board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7780" NEWID="18335">
<DATE> 2-JUN-1987 18:18:08.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2853&#31;reute
d f BC-WATKINS-JOHNSON-&lt;WJ>   06-02 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>WATKINS-JOHNSON &lt;WJ> WINS CONTRACT</TITLE>
<DATELINE>    PALO ALTO, Calif, June 2 - </DATELINE><BODY>Watkins-Johnson Co said it
received a contract from General Electric COrp's &lt;GE> G.E.
Astro Space division for nearly two mln dlrs to provide
traveling-wave-tube amplifiers on the Mars Observer spacecraft.
    The Observer is scheduled to be launched into Mars orbit in
the early 1990s.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7781" NEWID="18336">
<DATE> 2-JUN-1987 18:18:25.09</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;f2854&#31;reute
d f BC-WICKES-&lt;WIX>-COMPLETE   06-02 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>WICKES &lt;WIX> COMPLETES PURCHASE</TITLE>
<DATELINE>    SANTA MONICA, Calif, June 2 - </DATELINE><BODY>Wickes Cos Inc said it has
completed the purchase of Dura Corp for an undisclosed amount.
    Dura, a supplier of automotive equipment, had annual sales
of over 100 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7782" NEWID="18337">
<DATE> 2-JUN-1987 18:19:02.43</DATE>
<TOPICS><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2855&#31;reute
r f BC-COMINCO-&lt;CLT>-SETS-TE   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT> SETS TENTATIVE TALKS ON STRIKE</TITLE>
<DATELINE>    TRAIL, British Columbia, June 2 - </DATELINE><BODY>Cominco Ltd said it set
tentative talks with three striking union locals that rejected
on Saturday a three-year contract offer at Cominco's Trail and
Kimberley, British Columbia lead-zinc operations.
    The locals, part of United Steelworkers of America,
represent 2,600 production and maintenance workers. No date has
been set for the talks, the spokesman replied to a query.
    The spokesman said talks were still ongoing with the two
other striking locals, representing 600 office and technical
workers. Production at Trail and Kimberley has been shut down
since the strike started May 9.
    Each of the five locals has a separate contract that
expired April 30, but the main issues are similar.
    The Trail smelter produced 240,000 long tons of zinc and
110,000 long tons of lead last year, while the Sullivan mine at
Kimberley produced 2.2 mln long tons of ore last year, most for
processing at Trail.
    Revenues from Trail's smelter totaled 356 mln Canadian dlrs
in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7783" NEWID="18338">
<DATE> 2-JUN-1987 18:19:34.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2856&#31;reute
r f BC-SOUTHERN-AIR-SUES-MIA   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHERN AIR SUES MIAMI TV STATION</TITLE>
<DATELINE>    MIAMI, June 2 - </DATELINE><BODY>&lt;Southern Air Transport> said it sued
WPLG-Channel 10 of Miami for compensatory and punitive damages
in excess of 50 mln dlrs for false and defamatory statements
made by the television station in a series of broadcasts last
month.
    The complaint alleges that the broadcast contained numerous
false statements which the stations knew were untrue.
    Officials of either company were unavailable for comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7784" NEWID="18339">
<DATE> 2-JUN-1987 18:26:06.13</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2861&#31;reute
d f BC-PHELPS-DODGE-SEEKS-TO   06-02 0142</UNKNOWN>
<TEXT>&#2;
<TITLE>PHELPS DODGE SEEKS TO DIVERSIFY MORE FROM COPPER</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Phelps Dodge Corp is prepared to make
another large non-copper acquisition and a deal could be struck
in the near future, chairman G. Robert Durham said.
    Durham told Reuters the company was examining potential
candidates but not yet talking with any. Any acquisition must
have a different economic cycle to copper, he said.
    Phelps Dodge, the largest U.S. copper producer, last year
paid 240 mln dlrs for Columbian Chemicals Co which makes carbon
black used in rubber and tires. The purchase was part of a
strategic plan to diversify and then match earnings between
copper and non-copper operations.
    The company could spend between 250 mln and 500 mln dlrs to
buy another non-copper firm, Durham said, citing 100 mln dlrs
of cash and 580 mln dlrs of untapped bank credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7785" NEWID="18340">
<DATE> 2-JUN-1987 18:35:29.88</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM Y
&#22;&#22;&#1;f2873&#31;reute
r f AM-COMMUNITY-ENERGY   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>EC WATCHING GULF WAR DEVELOPMENTS</TITLE>
<DATELINE>    LUXEMBOURG, June 2 - </DATELINE><BODY>The European Community (EC) should
watch very carefully for any developments in the Gulf War and
their consequences on the oil market, EC Energy Commissioner
Nicolas Mosar said today.
    Speaking two weeks after a U.S. warship was attacked in the
Gulf, Mosar warned, "An escalation in the Gulf would increase
tensions in the oil market."
    "But I do not want to be alarmist," he told a news conference
after an EC energy ministers meeting in Luxembourg.
    He said the volume of EC oil imports from the Gulf had
declined to around 31 pct of total oil imports in the first
three months of 1987 against 35 pct in the same period last
year. "There are also other potential sources of supplies in the
world," he added.
    The issue of Gulf oil imports was not discussed at the
ministers' meeting, he added.
    A EC committee of national experts in the so-called oil
supply group would discuss Gulf oil supplies at their bi-annual
meeting on June 19, he said.
    But any major decisions would have to be reserved for EC
foreign ministers, diplomats said.
    West European nations have so far shown little enthusiasm
for backing a U.S. plan to give military protection to merchant
ships in the Gulf which could help insure the safety of oil
supplies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7786" NEWID="18341">
<DATE> 2-JUN-1987 18:43:51.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2887&#31;reute
u f BC-FCC-GRANTS-LICENSE,-C   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FCC GRANTS LICENSE, CLEARS WAY FOR SALE</TITLE>
<DATELINE>    LOS ANGELES, June 2 - </DATELINE><BODY>Spanish International Communications
Corp said the Federal Communications Corp granted the license
renewal of five of its stations, clearing the way for the sale
of the company to &lt;Hallmark Cards Inc>.
    THe FCC had preliminarily approved the transfer of the
stations on September 26, 1986, after which several parties had
filed applications with the FCC seeking to block the renewal of
the broadcast licenses and block the sale.
    The stations granted the renewal include KMEX-TV in Los
Angeles, KWEX-TV in San Antonio, WLTV in Miami, WXTV in New
York and KFTV in Fresno, Calif.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7787" NEWID="18342">
<DATE> 2-JUN-1987 18:44:07.90</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;f2889&#31;reute
r f BC-BALL-CORP-&lt;BLL>-COMPL   06-02 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>BALL CORP &lt;BLL> COMPLETES ACQUISITION</TITLE>
<DATELINE>    MUNCIE, Ind., June 2 - </DATELINE><BODY>Ball Corp said it completed the
purchase of privately held &lt;Verac Inc>, a San Diego defense
systems and software development company.
    Terms of the acquisition were not disclosed. Verac had 1986
sales of about 23 mln dlrs.
    Verac will operate in San Diego as part of Ball's technical
products group.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7788" NEWID="18343">
<DATE> 2-JUN-1987 18:51:10.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2900&#31;reute
u f BC-SEC   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC SAYS COMPANY INFLATED 1982/83 INCOME</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The Securities and Exchange Commission
charged Windsor Holding Co, a Chicago-based lamp and ceiling
fan maker, with fraudulently overstating its 1982 and 1983
pre-tax income by a total of 3.6 mln dlrs.
    Simultaneously with the filing of the civil case in U.S.
District Court here, the company, formerly Windsor Industries
Inc, three former officers and a former director, agreed to
settle the charges without admitting or denying them.
    But under the settlement, the company and the other
defendants consented to court orders barring them from
committing further violations of securities law.
    There were no monetary penalties in the settlement and the
company, which was delisted from the National Association of
Securities Dealers Automated Quotation, NASDAQ, system in May
1985, was not required to restate its earnings.
    The SEC charged Jose Arrojo, a vice president of a Windsor
subsidiary, Ronald Kahn, former vice of the company, and David
Garvin, former president of a Windsor subsidiary, with taking
part in a scheme to inflate the value of Windsor's 1982
year-end inventory, resulting in a 2.0 mln dlr overstatement of
the company's pre-tax income for that year.
    The company's inventory was again falsified a year later,
resulting in a 1.6 mln dlr overstatement, the SEC charged.
    Another defendant, Arthur Usheroff, a former Windsor board
member, the company and Kahn also failed to disclose in an SEC
filing an arrangement under which Usheroff was compensated for
services rendered in a 1983 Windsor public stock offering, the
agency said.
    Arrojo, Kahn and the company were also charged with making
false statements in required SEC filings.
    Windsor filed for bankruptcy in August 1985 and had a plan
of reorganization approved last December.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7789" NEWID="18344">
<DATE> 2-JUN-1987 18:53:18.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2902&#31;reute
u f PM-VOLCKER-BRAZIL   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>CONCERN IN BRAZIL OVER VOLCKER DEPARTURE</TITLE>
<DATELINE>    SAO PAULO, June 2 - </DATELINE><BODY>Brazilian officials are privately
expressing concern that the change of command at the Federal
Reserve may lead to a tougher U.S. Policy on debt and less
understanding of the problems of the Third World.
    Paul Volcker, head of the Federal Reserve, was considered
here to be understanding of Brazil's difficulties.
    A Finance Ministry source said of his colleagues in the
ministry: "They are a bit apprehensive about (Alan) Greenspan
(who will replace Volcker), considering his reputation as a
very tough man, an advocate of recessive measures to
counter-attack inflation. There is a little bit of concern."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7790" NEWID="18345">
<DATE> 2-JUN-1987 18:53:46.40</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2903&#31;reute
u f BC-ALBERTA-SEEDING-VIRTU   06-02 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>ALBERTA SEEDING VIRTUALLY COMPLETE</TITLE>
<DATELINE>    CALGARY, June 2 - </DATELINE><BODY>Ninety-six pct of Alberta and
northeastern British Columbia crops have been seeded, about a
week ahead of the 10 year average, according to the Alberta
wheat pool report.
    Hard red spring wheat accounts for most acreage with 6.0
mln estimated for this year, little changed from last year.
Oats acreage of 1.95 mln is unchanged on last year and barley
area of 5.9 mln is also similar to last year. Rapeseed planting
of an estimated 3.24 mln is expected five pct up on 1986. The
south and south central areas of Alberta lacked moisture with
germination patchy at best. Growth prospects in northern areas
are generally in the good to very good range.
   Soil moisture is better in the north central and Peace
areas, the wheat pool said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7791" NEWID="18346">
<DATE> 2-JUN-1987 18:54:38.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D><D>greenspan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2906&#31;reute
u f BC-FORD-&lt;F>-HAILS-VOLKER   06-02 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> HAILS VOLKER, GREENSPAN</TITLE>
<DATELINE>    DETROIT, June 2 - </DATELINE><BODY>Ford Motor Co praised President Reagan's
nomination of Alan Greenspan as Federal Reserve Board chairman,
saying the conservative economist has a "sound record to fill
the void of (Paul) Volker's departure."
    The number two U.S. auto maker said in a statement that
Volker "took office...at the beginning of a critical time for
the auto industry" and had had "a very positive impact on the
U.S. economy."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7792" NEWID="18347">
<DATE> 2-JUN-1987 18:58:11.41</DATE>
<TOPICS><D>bop</D><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;f2908&#31;reute
b f BC-N.Z.-APRIL-CURRENT-AC   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Z. APRIL CURRENT ACCOUNT DEFICIT NARROWS</TITLE>
<DATELINE>    WELLINGTON, June 3 - </DATELINE><BODY>New Zealand's current account deficit
narrowed to 76 mln N.Z. Dlrs in April from a revised 89 mln
dlrs in March, and 224 mln dlrs in April 1986, in a smoothed
seasonally-adjusted measurement, the Statistics Department
said.
    The March figure was revised from 69 mln dlrs.
    The department said in a statement seasonally adjusted, but
non-smoothed figures, showed a deficit of 99 mln dlrs against
76 mln dlrs in March and 230 mln dlrs in April 1986.
    Totally unadjusted figures show a deficit of 83 mln dlrs
against 164 mln dlrs in March, revised from 178 mln dlrs, and
compared with 262 mln in April 1986.
    The smoothed seasonally adjusted series shows a surplus on
merchandise trade of 145 mln dlrs against 135 mln dlrs in March
and 30 mln dlrs in April 1986.
    Seasonally adjusted but non-smoothed figures show a
merchandise trade surplus of 132 mln dlrs against a 148 mln dlr
surplus in March and a 14 mln dlr surplus in April 1986.
    Unadjusted merchandise figures show a surplus of 151 mln
dlrs against a 5.0 mln dlr (revised from 10 mln dlr) deficit in
March and a 31 mln dlr deficit in March 1986.
    The smoothed seasonally adjusted deficit on invisibles was
234 mln N.Z. Dlrs against 236 mln dlrs in March and 255 in
April 1986.
    The seasonally adjusted but non-smoothed deficit on
invisibles was 240 mln dlrs against 229 mln dlrs in March and
245 mln dlrs in April 1986. The unadjusted deficit on
invisibles was 234 mln dlrs against 158 mln dlrs, revised from
168 mln dlrs, in March and 231 mln dlrs in April 1986.
    Seasonally adjusted export and import figures were not
available.
    The department said these figures show a continuing
improvement in the current account deficit, caused mainly by an
improvement in the balance on merchandise trade which has now
being in surplus since november 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7793" NEWID="18348">
<DATE> 2-JUN-1987 19:01:51.72</DATE>
<TOPICS><D>strategic-metal</D></TOPICS>
<PLACES><D>uk</D><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2913&#31;reute
u f BC-STRONG-DEMAND-FOR-PER   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>STRONG DEMAND FOR PERU BISMUTH IN JAN/MAY</TITLE>
<DATELINE>    LONDON, June 3 - </DATELINE><BODY>Very strong demand from all markets
including, recently, Japan has resulted in Peru's bismuth
exports showing an impressive increase in January/May 1987,
Peru's state owned mining industry's marketing arm Minpeco S.A.
Said.
    In a statement released by its London office, Minpeco said
Peruvian customs figures for bismuth exports for the first five
months were 574.8 tonnes compared with 160.7 tonnes in the same
period of 1986 and 483.4 tonnes during the whole of 1986,
Minpeco said.
    A breakdown of the figures showed Peru exported 296.4
tonnes of bismuth to the U.S. During Jan/May 1987 compared with
127.0 during the whole of 1986. Other recipients were Peoples
Republic of China 110.4 (100.0), Holland 100.2 (150.0), USSR
50.0 (50.0) and other areas 17.8 tonnes (56.4).
    Sales to the U.K., West Germany, France and other Western
and Eastern European countries are hidden under the heading
Holland as Minpeco sells to customers in these countries from
stocks the company normally holds in Rotterdam, the statement
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7794" NEWID="18349">
<DATE> 2-JUN-1987 19:04:16.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2916&#31;reute
u f BC-ALLERGY-GETS-GRANT-TO   06-02 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLERGY GETS GRANT TO DEVELOP INTERLEUKIN KIT</TITLE>
<DATELINE>    NEWPORT BEACH, Calif., June 2 - </DATELINE><BODY>Allergy Immuno Technologies
Inc said it received federal funding to develop a diagnostic
kit for measuring Interleukin-2 and Interleukin-2 receptor.
    Interleukin is a naturally produced substance important in
maintaining the body's immune system.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7795" NEWID="18350">
<DATE> 2-JUN-1987 19:05:11.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2917&#31;reute
u f BC-FLOATING-POINT-&lt;FLP>   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>FLOATING POINT &lt;FLP> CUTS WORKFORCE</TITLE>
<DATELINE>    BEAVERTON, Ore, June 2 - </DATELINE><BODY>Floating Point Systems INc said it
implemented a restructuring, consolidating eight departments
into four and decreasing its worldwide staff to 800 from 1,200.
    It said cost-cutting measures include a significant
reduction in its Ireland manufacturing facility.
    "Our expectation that 1987 will be a slow turnaround year
requires an intensified effort to make operations more
cost-effective," chairman Milton Smith said.
    For the year ended October 31, 1986, FLoating POint
reported a net loss of 14.3 mln dlrs or 1.67 dlrs per share on
sales of 88.6 mln dlrs.
    Floating Point said it expects to incur a charge of between
five and 10 mln dlrs in its third quarter ending July 31 which
will be off from last year's third quarter.
    In 1986, Floating Point reported a third quarter loss of
two mln dlrs on sales of 20.8 mln dlrs
    Floating Point said it expects to report another loss for
the full year. It said its restructuring will result in savings
of between four and five mln dlrs on a quarterly basis.
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7796" NEWID="18351">
<DATE> 2-JUN-1987 19:05:57.98</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;f2918&#31;reute
r f BC-FREEDOM-&lt;FRDM>-TO-REC   06-02 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>FREEDOM &lt;FRDM> TO RECOGNIZE GAIN ON UNIT SALE</TITLE>
<DATELINE>    TAMPA, Fla., June 2 - </DATELINE><BODY>Freedom Savings and Loan Association
said it will record a net gain of 13.5 mln dlrs on the sale of
certain assets of its Freedom Mortgage Co subsidiary to Chase
Home Mortgage Corp, a subsidiary of Chase Manhattan Corp &lt;CMB>.
    Freedom also said it had completed the sale.
    The company said about 9.5 mln dlrs of the gain will be
recnogized in the quarter ending June 30 with the remainder
derferred and recognized over the remaining life of the
serviced mortgage porfolio.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7797" NEWID="18352">
<DATE> 2-JUN-1987 19:10:59.10</DATE>
<TOPICS><D>carcass</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f2922&#31;reute
r f BC-U.S.-MEAT-INDUSTRY-LA   06-02 0141</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MEAT INDUSTRY LAUNCHES CAMPAIGN IN JAPAN</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The U.S. meat industry has launched an
aggressive promotion campaign in Japan to increase consumer
awareness of U.S. beef and persuade the Japanese government to
relax current beef import quotas.
    U.S. beef sales to Japan, currently around 480 mln dlrs
annually, could increase to over two billion dlrs and as high
as six billion dlrs by the year 2000 if Japanese quotas were
removed and the Japanese consumer were made more aware of the
attributes of U.S. beef, officials of the U.S. Meat Export
Federation said at a press conference today.
    Partially funded with a 6.5 mln dlr award made through the
Agriculture Department's Targeted Export Assistance (TEA)
program, a five-year meat promotion campaign in Japan was
launched by the U.S. Meat Export Federation in April.
    "The promising Japanese beef market could be one of the
bright spots for U.S. agricultural exports," said Philip Seng,
Asian Director for the Federation. "We supply and they (Japan)
buy a very high quality of beef. They like our beef and want to
buy more," he said.
    Seng pointed to Japan's beef quota system, which limits
total Japanese beef imports to 177,000 tonnes per year and U.S.
imports to 58,400 tonnes, as the major constraint in expanding
U.S. beef shipments to Japan.
    The quotas were implemented in 1977 at a time of heavy
Japanese foreign beef imports. The current quota agreement
expires next March and beef quota negotiations are set to get
underway this fall.
    The Reagan administration has called for an end to the
quotas by April, 1988, but Japanese officials have said they
would not liberalize imports regardless of the U.S. pressure.
    Officials from the Meat Export Federation told Reuters that
they do not expect a complete lifting of the quota, but that
they hope for at least a gradual increase in the quota.
    High beef prices in Japan caused by the protected market
has also kept beef consumption at modest levels, meat industry
officials said.
    Japanese shoppers pay an average of 27.14 dlrs for a U.S.
tenderloin steak in a restaurant and an average of 47.42 dlrs
for a Japanese-produced restaurant steak, the meat association
said. At the retail level, U.S. striploin sells for 9.77 dlrs
per pound, while Japanese beef sells for 28.51 dlrs per lb.
    Japanese consumers currently eat less than 10 lbs of beef
per year, compared to 78 lbs for the average American,
officials said.
    Total beef consumption in Japan is now 700,000 to 800,000
tonnes per year, but Seng said with the removal of quotas and a
decrease in beef prices, consumption could increase to 3.2 mln
tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7798" NEWID="18353">
<DATE> 2-JUN-1987 19:11:52.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2925&#31;reute
u f BC-COORS-&lt;ACCO.O>-SEES-L   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>COORS &lt;ACCO.O> SEES LOWER SECOND QUARTER</TITLE>
<DATELINE>    GOLDEN, Colo, June 2 - </DATELINE><BODY>Adolph Coors Co said it expects
second quarter net income to be in the range of 45 cts to 50
cts a share compared to 82 cts a share in 1986.
    Coors said earnings were hurt by start-up expenses at the
new Shenandoah Brewery and other marketing expenses.
    It said it expects to achieve record barrel sales in 1987,
but that second quarter beer shipments are expected to be
similar to the 4.2 mln volume of the second quarter of 1986.
    It said will spend about 90 mln dlrs in 1987 and 1988 to
expand Shenandoah's operations and will increase advertising
spending by 10 pct to 200 mln dlrs in 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7799" NEWID="18354">
<DATE> 2-JUN-1987 19:12:10.92</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;f2927&#31;reute
r f BC-COMP-U-CARD-INTERNATI   06-02 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>COMP-U-CARD INTERNATIONAL INC &lt;CUCD.O> 1ST QTR</TITLE>
<DATELINE>    STAMFORD, COnn, June 2 -
    </DATELINE><BODY>Shr 18 cts vs 15 cts
    Net 3.3 mln vs 2.5 mln
    Revs 45.2 mln vs 26.8 mln
    NOTE:1986 net includes seven cts or 1.2 mln dlrs tax loss
carryforward.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7800" NEWID="18355">
<DATE> 2-JUN-1987 19:12:33.33</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;f2929&#31;reute
r f BC-MERCHANTS-&lt;MCHN.O>-TO   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCHANTS &lt;MCHN.O> TO REPORT 2ND QTR LOSS</TITLE>
<DATELINE>    INDIANAPOLIS, June 2 - </DATELINE><BODY>Merchants National Corp, with 3.7
billion dlrs in assets, said it will report a loss of 13 mln
dlrs for the second quarter due to its decision to increase its
provision for losses by 30 mln dlrs, mainly due to
uncertainties surrounding Latin American debt.
    In the second quarter last year, Merchants reported net
income of 6.2 mln dlrs or 68 cts a share.
    As a result of the increased loan loss provision, the bank
said the allowance for loan losses will increase from 1.4 pct
to 2.5 pct of the bank's total loans. The bank said its expects
to report estimated net of over 15 mln dlrs for 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7801" NEWID="18356">
<DATE> 2-JUN-1987 19:15:48.53</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2931&#31;reute
u f BC-venezuelan-aluminum-f   06-02 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELAN ALUMINUM FIRM TO CREDITS</TITLE>
<DATELINE>    Caracas, june 2 - </DATELINE><BODY>the venezuelan state aluminum company
venalum is negotiating a total of 123.9 mln dlr in credits from
abroad for a planned expansion of production faciities, finance
minister manuel azpurua said.
    Azpurua spoke to reporters after meeting representatives of
the kreditanstalt fur wiederaufbau (kfw) bank of germany, who
tommorrow will sign a agreement to grant 100 mln marks (54.9
mln US dlrs) in credits to venalum.
    The agreement will have an eight and one-half year term and
a fixed interest rate of 6.13 pct.
    Azpurua said venalum is negotiating credits of 14.9 mln
dlrs from the swiss bank corporation, 14 mln dlrs from
mitsubishi of japan and 40 mln dlrs from eksportfinans of
norway.
    "this proves we are achieving our goal of reestablishing
the financial flows to the country," said azpurua.
    The credits would go to the installation of a fifth
production line in venalum, one of three state aluminum
companies, which produces primarily for the export market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7802" NEWID="18357">
<DATE> 2-JUN-1987 19:24:43.92</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2937&#31;reute
r f AM-GULF-CONGRESS-1stld   06-02 0128</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PASSES MIDEAST GULF BILL</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The House today approved a bill
requiring the Reagan administration to report to Congress on
its Mideast Gulf policy but not restricting its actions.
    The vote in favor was despite a last-minute revolt by an
alliance of liberal Democrats and conservative Republicans who
sought to defeat it as a signal that a growing number of
legislators oppose President Reagan's policies in the region.
    In the Senate, a leading Republican senator, former Senate
Appropriations Committee Chairman Mark Hatfield of Oregon, said
he would try to prevent consideration of the bill.
    He said he will put a so-called "hold" on the bill until he
finds out whether the War Powers Act applies to protecting
Kuwaiti tankers.
    Congressional leaders complain they were not consulted
about plans to put the U.S. flag on Kuwaiti ships and some
charged the policy could lead the U.S. into the Iran-Iraq war.
    Conservative Republicans said increasing the U.S. military
obligation in the gulf would place impossible burdens on
American servicemen and equipment, and warned it could lead to
war.
    "It is a real snake pit at best and a powder keg that will
blow sky-high at worst," said Wisconsin Rep. Toby Roth.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7803" NEWID="18358">
<DATE> 2-JUN-1987 19:33:26.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2942&#31;reute
r f BC-FIRMS-AWARDED-U.S.-PO   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRMS AWARDED U.S. POSTAL SERVICE AWARDS</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>The U.S. Postal Service said Unisys Corp
&lt;UIS>, Bell and Howell Co &lt;BHW>, Recognition Equipment Inc
&lt;REC>, Toshiba and AEG, were awarded contracts for automating
the postal services mail sorting system.
    The Postal Service said the contracts will lead to increase
use of multiline optical character readers. Based on the
outcome of next summer's tests, the Postal Service said it will
decide whether to buy only new equipment or combine new
purchases with some of its older equipment.
    It also said a test of a kit under a previous contract was
successfully completed by ElectroCom Automation Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7804" NEWID="18359">
<DATE> 2-JUN-1987 19:33:56.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D></PLACES>
<PEOPLE><D>volcker</D><D>camdessus</D><D>greenspan</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f2943&#31;reute
u f BC-/VOLCKER-LEAVES-VOID   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER LEAVES VOID ON LDC DEBT, BANKERS SAY</TITLE>
<AUTHOR>    BY ALAN WHEATLEY, REUTERS</AUTHOR>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Paul Volcker's resignation as Federal
Reserve Board chairman creates a serious leadership vacuum at a
time of deep uncertainty about the future management of the
third-world debt crisis, bankers said.
    They said Volcker did more than any other official to hold
the financial system together when Mexico halted interest
payments in August 1982 and has played a central role ever
since.
    "Where is the leadership going to come from? Suddenly
there's a terrible void," one New York banker said.
    Volcker's expertise will be all the more sorely missed
because International Monetary Fund managing director Michel
Camdessus is new to his job and Barber Conable is finding it
hard to make a mark as World Bank president, bankers said.
    Moreover, Volcker's successor, Alan Greenspan, has little
experience of international affairs and third world debt.
    "Greenspan does not have the sensitivity to these issues
and the sense of understanding of their complexity that Volcker
has. Volcker understands what motivates people outside the U.S.
That was in his gut. Greenspan just does not have the intuitive
feeling," one banker said.
    This banker, who has discussed debt questions with
Greenspan, described his views as simplistic.
    But Robert Hormats of Goldman, Sachs and Co said he was not
worried by Greenspan's lack of international experience.
    "People rush to judgment, but once they get to know
Greenspan I'm sure they'll find him an excellent replacement,"
said Hormats, a former Administration official.
    Anyone nominated to replace Volcker would have paled in the
initial comparison, Hormats said. "Volcker had the status of a
financial demigod and you can't attain that status overnight,"
he said.
    One veteran debt rescheduler said Volcker, together with
the Bank of England, deserves credit for keeping the banking
system intact after Mexico's default.
    "If it hadn't been for him, the world would look a lot
different now," he said. "Whether you agreed with him or not,
he has a superb grasp of ideas."
    Certainly, not all bankers did agree all the time with
Volcker. In particular, he was roundly criticized by some for
more or less forcing them last September to grant Mexico
generous terms on its 77 billion dlr new-loan and debt
rescheduling agreement.
    "Volcker lost a lot of credibility by overstepping the
bounds and pushing the package onto the banks," commented one
banker who helped to negotiate the Mexican deal.
    Another critic was Citicorp chairman John Reed, who said
the 13/16 pct interest margin would deter some bank lenders and
thus delay Mexico's return to the voluntary markets.
    It was a review of the fate of the Mexican deal - and of
others that followed it for Chile, Venezuela, the Philippines
and Argentina - that helped to convince Reed that the debt
crisis was not about to be solved and that Citicorp needed to
bolster its reserves in case some of the loans went bad.
    "It certainly contributed to the general feeling of
malaise," one Citicorp banker said in describing the impact of
the Mexican package on the bank's decision to add three billion
dlrs to its reserve for possible loan losses.
    That decision, since followed by Chase Manhattan and
Security Pacific Corp, may profoundly alter the strategy of
creditors and debtors alike for tackling the debt crisis.
    But no one is sure what the impact will be. "It's very
difficult for anyone to know which way the debt problem is
going, and with Volcker out of the picture it just adds to the
uncertainty," one banker said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7805" NEWID="18360">
<DATE> 2-JUN-1987 19:40:12.50</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C
&#22;&#22;&#1;f2948&#31;reute
u f BC-fin-futures-outlook   06-02 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>NEAR TERM STRENGTH SEEN FOR CURRENCY FUTURES</TITLE>
<AUTHOR>    by Patricia Campbell, Reuters</AUTHOR>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Currency futures are likely to move
higher following the sharp rally today after President Reagan
announced that Paul Volcker would not accept a third term as
Federal Reserve Chairman and that Alan Greenspan was nominated
as his replacement, currency analysts said.
    Contrary to predictions before the Volcker resignation,
analysts are calling for higher currency futures prices between
now and the June 8 Venice economic summit.
    In particular, uncertainty about Greenspan's attitude to
the dollar could undermine sentiment toward the U.S. currency,
analysts said.
    Greenspan said today that the dollar appeared to be nearing
a bottom, but the market will bear in mind his remarks in
Chicago last week that the dollar's recent move upward was a
technical reaction and that it would trade significantly lower,
analysts said.
   
    "Disappointment of European central bankers over the
appointment will be used as an opportunity to sell the dollar
lower," said Manufacturers Hanover Futures vice president Carol
Mackoff.
    "The international community will not like this
appointment," as it suggests the possibility that the U.S.
budget deficit is too much of a burden on monetary policy and
that Volcker was unable to get the commitment he sought to
reduce the deficit, added Merrill Lynch Economics analyst David
Horner.
     Furthermore, "that Greenspan was not named two months ago
suggests that he was not the Administration's first choice --
and that the status of his appointment was as a bridesmaid,"
Horner said.
    A declining dollar scenario with higher currency futures
prior to and throughout the Venice meetings would be mitigated
only by concrete action as opposed to "jawboning" at the G-7
summit, he said.
    But G-7 finance ministers, judged by recent statements, may
be at an impasse, analysts said.
    Japan and West Germany today reiterated that neither
planned further interest rate cuts, despite pressure from the
U.S. to do so, Mackoff said.
    The U.S., on the other hand, has not cut its budget deficit
as Japan and West Germany have urged, she said.
    Should G-7 members force a U.S. commitment to cut its
budget deficit in the next two years, a further decline in the
dollar could be forestalled, Horner said.
    However, "the impact from Venice will be nothing if nothing
changes," Horner said.
    Smith Barney, Harris Upham and Co. analyst Craig Sloane
said European currencies will likely move to the higher end of
their 1987 ranges after today's sharp advance.
    For the next two weeks, Sloan calls for September yen
futures to advance toward the 0.007200 area. He said September
marks could close in on 0.5700 as an upside target, while Swiss
francs could climb to a range between 0.6900 and 0.6950.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7806" NEWID="18361">
<DATE> 2-JUN-1987 20:02:32.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2967&#31;reute
r f AM-debt-peru   06-02 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK SUSPENDS LOANS TO PERU - CENTRAL BANK</TITLE>
<AUTHOR>    By Walker Simon, Reuters</AUTHOR>
<DATELINE>     LIMA, June 2 - </DATELINE><BODY>The World Bank has suspended loans to Peru
because the country has over two months of payment arrears with
the lending agency, central bank general manager Hector Neyra
said.
     He told reporters the government decided to stop paying
the World Bank because scheduled repayments outweighed the
loans it was due to receive.
     The measure was the latest hard-line debt stance adopted
by the government of President Alan Garcia, one of Latin
America's most delinquent debtors. The 22-month-old
administration has cut repayments to 10 pct of export earnings
on nearly all its 14.4 billion dlr foreign debt.
     Neyra said since late 1986 Peru had sought an accomodation
with the World Bank under which it would receive more credits
than it would remit in repayments.
     Neyra stressed Peru was not withdrawing from the world
bank. The country had recently increased its capital
suscription in the institution by about three mln dollars.
    The Bank would immediately resume loan disbursements to
Peru once it cleared its arrears, he said. He did not specify
the value of the overdue payments. The economy ministry said
Peru's debt to the world bank was 521 mln dlrs at end-1985.
    At the end of last year, Peru's total foreign debt stood at
14.46 billion dollars, 13.17 billion dollars of which is
medium- and-long-term debt, the central bank said. Total
arrears were 5.42 billion dollars.
    Central bank president Leonel Figueroa said Peru had enough
hard currency, gold and silver on hand to cover 10 or 11
months' worth of imports.
    The holdings of the two precious metals and the hard
currencies were valued at 2.172 billion dlrs on May 22, 1987,
he said.
    Gross reserves were slightly lower at 1.857 billion dlrs
because this classification did not include silver holdings and
undervalued the central bank's gold.
    Reserves were projected to fall at most 150 mln dlrs this
year, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7807" NEWID="18362">
<DATE> 2-JUN-1987 20:12:23.75</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2973&#31;reute
u f BC-WESTPAC-DROPS-NEW-ZEA   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTPAC DROPS NEW ZEALAND INDICATOR LENDING RATE</TITLE>
<DATELINE>    WELLINGTON, June 3 - </DATELINE><BODY>Westpac Banking Corp &lt;WSTP.S> said it
is cutting its indicator lending rate to 22 pct from 23 pct
effective from June 15.
    Westpac said in a statement various other lending rates are
also being revised downwards. The Westpac move follows base
rate drops by other New Zealand trading banks recently. &lt;Bank
of New Zealand's> base rate drops to 22 pct from 23 on June 16
and &lt;National Bank of New Zealand Ltd's> rate falls to 21.50
pct from 23 on June 15. The Australia and New Zealand Banking
Group Ltd &lt;ANZA.S> rate remains at 23 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7808" NEWID="18363">
<DATE> 2-JUN-1987 20:58:19.60</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2993&#31;reute
f f BC-Bank-of-Japan-interve   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Bank of Japan intervened buying small amount of dollars at 142.85 yen - dealers
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7809" NEWID="18364">
<DATE> 2-JUN-1987 21:45:54.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f3018&#31;reute
u f BC-DAIWA-SINGAPORE-LAUNC   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIWA SINGAPORE LAUNCHES 100 MLN DLR MINEBEA BOND</TITLE>
<DATELINE>    SINGAPORE, June 3 - </DATELINE><BODY>Daiwa Singapore Ltd, wholly-owned by
Daiwa Securities Co Ltd of Japan, yesterday launched a 100 mln
U.S. Dlr tranche of an equity warrant eurobond in Singapore for
Japan's Minebea Co Ltd &lt;MIAT.T>.
    The five-year eurobond carries an indicative coupon rate of
one and 5/8 pct and will be managed from Singapore. The
warrants may be exercised for shares in Minebea from July 1,
1987 to June 10, 1992.
    The bond was part of a 200 mln U.S. Dlr equity warrant
Eurobond issued by Minebea. Nomura International Ltd launched
the other 100 mln dlr bond in London.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7810" NEWID="18365">
<DATE> 2-JUN-1987 21:55:51.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f3023&#31;reute
u f BC-MATSUSHITA-IN-JOINT-V   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MATSUSHITA IN JOINT VENTURE WITH FORD, MAZDA</TITLE>
<DATELINE>    TOKYO, June 3 - </DATELINE><BODY>Matsushita Electric Industrial Co Ltd
&lt;MC.T>, Mazda Motor Corp &lt;MAZT.T> and Ford Motor Co &lt;F> have
signed an agreement to set up a joint venture to make car air
conditioners in Japan, Matsushita said in a statement.
    The new venture, &lt;Japan Climate Systems Corp> will be
capitalised at 1.5 billion yen, and the three partners will
hold equal shares.
    The partners will invest 3.6 billion yen in constructing a
plant in Hiroshima, due for completion in late 1988. The plant
will initially make 100,000 air conditioners a year for Mazda,
it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7811" NEWID="18366">
<DATE> 2-JUN-1987 22:54:53.56</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f3055&#31;reute
u f BC-S.-KOREAN-WHOLESALE-P   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>S. KOREAN WHOLESALE PRICES UP 0.4 PCT IN MAY</TITLE>
<DATELINE>    SEOUL, June 3 - </DATELINE><BODY>South Korea's wholesale price index, base
1980, rose 0.4 pct to 127.0 in May after a 1.1 pct rise in
April and was 1.5 pct higher than in May 1986, the Bank of
Korea said.
    The May consumer price index, which has the same base, rose
1.4 pct to 149.1 after a 0.3 pct gain in April, for a
year-on-year rise of 3.5 pct.
    Wholesale prices rose 2.0 pct in the first five months of
1986, while consumer prices rose by 3.2 pct. Bank officials
said the rises were due to a strong yen which made imports of
Japanese parts, raw and intermediary materials more expensive.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7812" NEWID="18367">
<DATE> 2-JUN-1987 22:58:37.55</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f3058&#31;reute
u f BC-ESS0-LOWERS-PREMIUM-P   06-02 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>ESS0 LOWERS PREMIUM PETROL PUMP PRICE</TITLE>
<DATELINE>    SINGAPORE, June 3 - </DATELINE><BODY>Esso Singapore Pte Ltd will lower the
pump price of its premium 97 octane petrol price to 96.8
cents/litre from 97 cents effective midnight tonight, a
spokeswoman said.
    The new price is similar to other oil companies' price for
the same grade.
    Esso's price for 95 octane remains unchanged at 90.8 cents.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7813" NEWID="18368">
<DATE> 2-JUN-1987 23:16:57.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f3066&#31;reute
u f BC-MATSUSHITA-BRAZIL-JOI   06-02 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>MATSUSHITA BRAZIL JOINT VENTURE TO MAKE VTRS</TITLE>
<DATELINE>    OSAKA, June 3 - </DATELINE><BODY>A Matsushita Electric Co Ltd &lt;MC.T> joint
venture will make VHS-format video tape recorders (vtrs) in
Brazil for the domestic market in the face of government quotas
on vtr imports, a Matsushita spokesman told Reuters.
    &lt;Springer National de Amazonia SA> will start output in
early 1988 at a rate of 20,000 vtrs the first year, he said.
    Springer National, located in Manaus and capitalised at
89.93 mln cruzeiros, is owned 51 pct by &lt;Springer SA> of Brazil
and 49 pct by Matsushita unit &lt;National do Brasil Ltd>.
    It was formed in July 1981 to make colour televisions,
audio equipment and microwave ovens.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7814" NEWID="18369">
<DATE> 2-JUN-1987 23:17:39.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>bresser-pereira</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f3067&#31;reute
u f BC-BRAZIL'S-ECONOMIC-PLA   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL'S ECONOMIC PLAN MAY PERMIT NEW DEBT TALKS</TITLE>
<DATELINE>    BRASILIA, June 2 - </DATELINE><BODY>Brazil's new economic plan should enable
Brazil to renew negotiations with creditors on its 111-billion
dlr foreign debt within the next 30 days, Finance Minister Luiz
Carlos Bresser Pereira said.
    The plan, which predicted the economy would grow 4.5 pct
this year and inflation would drop to 10 pct a month by
December from 20 pct at present, would be officially announced
"within three or four weeks," he told a news conference.
    The minister said he presented an outline of the program
during a cabinet meeting in which President Jose Sarney
declared "a total war" on inflation.
    Sarney told the meeting an austerity plan to trim
government spending would be introduced.
    Bresser Pereira said Brazil faced the risk of economic
recession, but he estimated the gross national product would
grow 4.5 pct this year. It grew 8.3 pct last year.
    Its April inflation rate was a record 20.96 pct and
contributed to an accumulated rate of 84.19 pct in the first
four months of 1987.
    Bresser Pereira said the economic plan would seek to keep
the economy growing, to build an eight billion dlr trade
surplus and to force a sharp drop in the inflation rate.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7815" NEWID="18370">
<DATE> 2-JUN-1987 23:39:39.70</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f3080&#31;reute
b f BC-NAKASONE-SAYS-DOLLAR   06-02 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE SAYS DOLLAR FALL ONLY TEMPORARY</TITLE>
<DATELINE>    TOKYO, June 3 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone said the
dollar's sharp fall against the yen overnight was only
temporary.
    The dollar dropped sharply in New York after news that Paul
Volcker would step down as chairman of the U.S. Federal
Reserve.
    Nakasone told reporters he did not expect U.S. Policy to
change after Volcker steps down.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22095" NEWID="18371">
<DATE>15-JUN-1987 09:12:50.74</DATE>
<TOPICS><D>ship</D></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;f0863&#31;reute
u f BC-BLOCKED-RHINE-NAVIGAT   06-15 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>BLOCKED RHINE NAVIGATION CHANNEL REMAINS CLOSED</TITLE>
<DATELINE>    MANNHEIM, June 15 - </DATELINE><BODY>The main navigation channel of the
Rhine, blocked by two sunken boats, will remain closed at least
until the beginning of next week, a water authority spokesman
said today.
    Karlsruhe water authorities said a queue of about 70 ships
had formed between the towns of Speyer and Iffezheim but most
shipping companies had unloaded cargoes and were using
alternative means of transport.
    Heinz-Josef Recker, of the Mannheim water authority, said
two floating cranes would make a fresh attempt to raise the
sunken tug and its lighter after an unsuccessful try on Friday.
The tug Orinoko hit a railway bridge last Tuesday and sank with
a cargo of 3,500 tonnes of gravel on board. Before the
accident, about 100 ships a day sailed under the bridge.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22096" NEWID="18372">
<DATE>15-JUN-1987 09:16:02.66</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0876&#31;reute
u f BC-W.GERMAN-SHIP-HIT-BY   06-15 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>W GERMAN SHIP HIT DURING WARSAW PACT WAR GAMES</TITLE>
<DATELINE>    BONN, June 15 - </DATELINE><BODY>A West German navy ship was accidentally
hit today by artillery shells from a Warsaw Pact vessel in the
Baltic Sea and three sailors were injured, the Defence Ministry
said.
    The ship, the Tender Neckar, was struck while watching
Warsaw Pact exercises in the Baltic Sea, a ministry spokesman
said.
    He could not say what condition the men were in or which
country owned the ship which fired the shots. The spokesman
said West Germany believed the incident was accidental.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22043" NEWID="18373">
<DATE>15-JUN-1987 09:40:54.86</DATE>
<TOPICS><D>hog</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f0953&#31;reute
u f BC-slaughter-guesstimate   06-15 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, June 15 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 250,000 to 270,000 head versus
249,000 week ago and 261,000 a year ago.
    Cattle slaughter is guesstimated at about 126,000 to
131,000 head versus 126,000 week ago and 131,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22061" NEWID="18374">
<DATE>15-JUN-1987 10:04:42.39</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>israel</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1025&#31;reute
r f BC-ISRAELI-INFLATION-0.6   06-15 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ISRAELI INFLATION 0.6 PCT IN MAY</TITLE>
<DATELINE>    JERUSALEM, June 15 - </DATELINE><BODY>Israel's inflation rate for May was
0.6 pct, the lowest since last July when there was no increase,
the Central Bureau of Statistics said.
    In April, inflation was 2.2 pct and the figure for May last
year was 1.6 pct. The rate for the first five months of 1987
was 7.5 pct, the bureau said.
    The annual inflation rate for the past 12 months was 20.3
pct, a bureau spokesman said.
    Israeli inflation was running at an annual rate of more
than 400 pct until the government imposed an austerity plan
controlling wages and prices in mid-1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22011" NEWID="18375">
<DATE>15-JUN-1987 10:09:03.70</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>cuba</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1034&#31;reute
b f BC-/CUBA-SUGAR-HARVEST-E   06-15 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CUBA SUGAR HARVEST ENDS AFTER LONG DELAYS</TITLE>
<DATELINE>    HAVANA, June 15 - </DATELINE><BODY>The Cuban sugar harvest, which was
extended almost a month and a half beyond its originally
scheduled shutdown date, ended here as the last of the island's
154 mills closed operations, the official newspaper granma
said.
    The newspaper characterized the harvest, which began in
late November, 1986, as "a tense and pressured campaign."
    In a recent interview with the French communist party
newspaper l'humanite, Cuban president Fidel Castro said that
crude sugar production during the harvest would be "less than
7.5 mln tonnes.
    The harvest was plagued by a four year shortfall of rain
which reduced the sugar content of the cane and by unseasonable
rain storms during the first two months of this year which made
cane cutting by mechanical combines virtually impossible.
    Many foreign sugar experts voiced doubts during the present
harvest that raw sugar production would exceed last year's 7.2
mln tonne mark.
    In the 1984-85 campaign Cuba produced 8.2 mln tonnes of raw
sugar.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22004" NEWID="18376">
<DATE>15-JUN-1987 10:20:28.19</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1081&#31;reute
w f BC-DOW-CHEMICAL-&lt;DOW>-RA   06-15 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>DOW CHEMICAL &lt;DOW> RAISING LATEX ADDITIVE PRICES</TITLE>
<DATELINE>    MIDLAND, Mich., June 15 - </DATELINE><BODY>Dow Chemical Co said effective
July 15 it is raising all bulk and drum prices for its line of
DOWNRIGHT styrene-butadiene latex additives used in the
modification of asphalts by 15 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22171" NEWID="18377">
<DATE>15-JUN-1987 10:30:23.27</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1116&#31;reute
b f BC-EGYPT-SUBMITS-IDENTIC   06-15 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>EGYPT SUBMITS IDENTICAL BID IN EEP WHEAT TENDER</TITLE>
<DATELINE>    KANSAS CITY, June 15 - </DATELINE><BODY>Egypt for the third time submitted a
bid of 89 dlrs per tonne in its tender for 200,000 tonnes of
soft red or white wheat for June-July delivery under the export
enhancement program, U.S. exporters said.
    USDA has rejected that bid twice, the sources noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22052" NEWID="18378">
<DATE>15-JUN-1987 10:59:31.81</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>eyskens</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1242&#31;reute
u f BC-EC-FARM-CRISIS-LIKELY   06-15 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>EC FARM CRISIS LIKELY TO GO TO END-JUNE SUMMIT</TITLE>
<AUTHOR>    By Gerrard Raven, Reuters</AUTHOR>
<DATELINE>    LUXEMBOURG, June 15 - </DATELINE><BODY>Plans for key reforms of the European
Community's (EC) controversial farm policy will almost
certainly have to be referred to the bloc's heads of government
at a summit meeting on June 29 and 30, Belgian finance minister
Mark Eyskens said today.
    Eyskens was speaking at a news conference after chairing a
joint meeting of EC finance and agriculture ministers which was
designed to help break a deadlock over this year's EC farm
price package which has endured since March.
    Diplomats quoted EC Executive Commission president Jacques
Delors as saying at the same meeting that it would be a
disaster if the two most difficult issues at the farm talks had
to be referred to heads of government.
    These issues are a Commission plan for a tax on marine and
vegetable fats and oils, and proposals to change the system by
which EC farm prices, expressed in European currency units
(Ecus), are translated into the currencies of member states.
    The oils and fats tax is opposed by a group of countries
which fears it could provoke trade retaliation by the U.S., A
major exporter of soybeans to the EC.
    West Germany, meanwhile, is strongly against the technical
currency move, which would result in additional price cuts for
farmers in countries with strong currencies, such as the mark.
    Commission sources said Delors is anxious that the two
issues are not referred to the summit because this would mean
heads of government diverting their attention from much more
important world and Community issues.
    Eyskens said decisions from heads of government were also
likely to be less sound since they do not usually interest
themselves in such technically complex questions.
    However, Eyskens said today's meeting had thrown up some
nuances in member state positions "which may make the dialogue
more constructive in the next few weeks."
    If farm prices are not decided by the end of this month,
the Commission could use its own powers to impose a seven pct
cut in cereals prices, farm trade sources said. It originally
proposed measures to cut farm spending by 1.1 billion Ecus this
year, with effective price cuts of over 10 pct for some crops.
    Diplomats said farm ministers might be able to agree a
price package cutting spending by around 340 mln Ecus but for
their disagreements on the oils/fats tax and on currency
reforms.
    The finance ministers were called in to emphasise the need
for budgetary restraint in the face of an almost certain EC
budget deficit of over five billion Ecus this year.
    Although Delors was said by aides to have found today's
meeting very useful, diplomats said there was little sign of a
major shift in the position of member states, or of finance
ministers adopting a different line from that of their
agriculture colleagues.
    The farm ministers are expected to meet for most of this
week in Luxembourg in a pre-summit attempt to bridge their
differences.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22032" NEWID="18379">
<DATE>15-JUN-1987 11:10:34.44</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;f1308&#31;reute
r f BC-PHONEMATE-INC-&lt;PHMT.O   06-15 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>PHONEMATE INC &lt;PHMT.O> RELISTED ON NASDAQ</TITLE>
<DATELINE>    TORRANCE, Calif., June 15 - </DATELINE><BODY>PhoneMate Inc said its common
stock will be relisted on the NASDAQ National Market System on
July 8.
    NASDAQ said the company's shares were relisted in the
NASDAQ system on June 4, following a delisting in September
1984 due to insufficient capital and surplus.
    PhoneMate Inc designs, engineers and markets
telecommunications products for the home and small business
markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22003" NEWID="18380">
<DATE>15-JUN-1987 11:14:37.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>nigeria</D></PLACES>
<PEOPLE><D>babangida</D></PEOPLE>
<ORGS><D>eca</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1324&#31;reute
r f BC-WORLD-FAILS-AFRICA-ON   06-15 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD FAILS AFRICA ON RECOVERY, CONFERENCE TOLD</TITLE>
<DATELINE>    ABUJA, Nigeria, June 15 - </DATELINE><BODY>Africa's efforts to revive its
economy are not being matched by international help, two of the
continent's heads of state said at the opening of a conference.
    Presidents Ibrahim Babangida of Nigeria and Denis Sassou-
Nguesso of Congo urged Africa's development partners to act
over the continent's debt, which now totals 175 billion dlrs,
at a meeting organised by the Economic Commission for Africa
(ECA).
    Their view was backed by Monique Landry, Canada's Minister
for External Relations. "Whether we look at aid or debt or
trade, the rich countries have not as yet lived up to their
part of last year's economic recovery pact."
    Babangida said it was unrealistic to expect any country to
spend more than 30 pct of its earnings on debt servicing
particularly as prices for the continent's commodities were so
unstable.
    Sassou Nguesso, current Chairman of the Organisation of
African Unity, accused international aid donors of failing to
provide the vigorous effort they promised a year ago.
    The conference, attended by African ministers, economists
and representatives from major donors, will review progress
since both sides agreed at the U.N. Last year to revive the
African economy over five years.
    The response from the international community has been
negative and projections of improved growth rates for Africa
already look far too optimistic, ECA Executive Secretary
Adebayo Adedeji told the conference.
    Both Babangida and Sassou Nguesso called for the debts of
Africa's poorest countries to be written off and for repayment
and grace terms to be eased.
    They won a degree of support from Landry, "Even private
bankers are willing to talk about the need for longer term
solutions to Africa's debt."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22000" NEWID="18381">
<DATE>15-JUN-1987 11:19:00.65</DATE>
<TOPICS><D>acq</D><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1338&#31;reute
r f BC-OCCIDENTAL-&lt;OXY>-BUYS   06-15 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>OCCIDENTAL &lt;OXY> BUYS SHELL VINYL CHLORIDE UNIT</TITLE>
<DATELINE>    DARIEN, Conn., June 15 - </DATELINE><BODY>Occidental Petroleum Corp said it
has completed the acquisition of Shell Oil Co's vinyl chloride
monomer business for undisclosed terms.
    Shell is a subsidiary of Royal Dutch/Shell Group &lt;RD> &lt;SC>.
    The company said the transaction will allow it to source
over half its vinyl chloride monomer requirements internally,
making it fully integrated in polyvinyl chloride production. It
has been buying all of its requirements.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21997" NEWID="18382">
<DATE>15-JUN-1987 11:22:24.47</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>usa</D><D>poland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1353&#31;reute
u f BC-WINTER-DAMAGE-TO-POLI   06-15 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>WINTER DAMAGE TO POLISH RAPESEED SEEN MINOR</TITLE>
<DATELINE>    WASHINGTON, June 15 - </DATELINE><BODY>Despite the past severe winter,
damage to rapeseed acreage in Poland appears to be minor, the
U.S. Agriculture Department's Counselor in Warsaw said in a
field report.
    The report, dated June 11, said official statements show
that about 40,000 hectares, less than 10 pct of sown area, was
plowed under this year compared with the usual 15 pct.
    Rapeseed production is forecast at 1.1 mln tonnes, 200,000
tonnes below the record crop produced in 1986, but 35 pct above
previous forecasts, the report said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21994" NEWID="18383">
<DATE>15-JUN-1987 11:34:58.34</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>ghana</D><D>ivory-coast</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1405&#31;reute
u f BC-DROUGHT-THREATENS-FAM   06-15 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>DROUGHT THREATENS FAMINE, COCOA DAMAGE IN GHANA</TITLE>
<DATELINE>    ABIDJAN, June 15 - </DATELINE><BODY>Ghana is taking steps to combat imminent
famine in certain areas near its border with Togo following
scant rainfall, Accra Radio reported today.
    The Radio, monitored in Abidjan, said fishing and farming
activities have been disrupted in certain districts around the
Volta region near the eastern coast.
    The report follows a period of unusually dry weather in
both Ghana and the Ivory Coast, which trade sources in Abidjan
said could pose problems for important developing cocoa crops.
    The Accra Radio report said a Ghanaian government
delegation, which visited the Anglo and Ketu districts last
week to investigate reports of food shortages, promised the
people a regular supply of maize, rice and sugar.
    At Anglo, the delegation was told that the Keta Lagoon had
dried up, halting fishing activities, while catches at sea were
poor and crops had failed, all due to lack of rainfall.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22109" NEWID="18384">
<DATE>15-JUN-1987 11:36:19.03</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;f1413&#31;reute
r f BC-LEWIS-GALOOB-&lt;GATO.O>   06-15 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>LEWIS GALOOB &lt;GATO.O> CLEARED FOR NYSE LISTING</TITLE>
<DATELINE>    SOUTH SAN FRANCISCO, Calif., June 15 - </DATELINE><BODY>Lewis Galoob Toys
Inc said it has been cleared to apply for New York Stock
Exchange listing, and it has filed a formal application.
    the company said it expects to be listed on the NYSE by the
first week in July.
    Galoob's stock is now traded on the NASDAQ system.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21988" NEWID="18385">
<DATE>15-JUN-1987 11:46:57.48</DATE>
<TOPICS><D>zinc</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1448&#31;reute
d f BC-CONCENTRATION-OF-ZINC   06-15 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>CONCENTRATION OF ZINC INDUSTRY SEEN CONTINUING</TITLE>
<DATELINE>    AMSTERDAM, June 15 - </DATELINE><BODY>The world's zinc mining and smelting
industry will continue to become more concentrated and more
integrated in the 1990s, Dr Klaus Goekmann, vice-president of
marketing and sales for Cominco Ltd, said.
    Opening a Metal Bulletin base metals conference here,
Goekmann forecast the number of individual businesses in the
industry would continue to decline as companies merged or
formed conglomerates with increased market shares.
    At the same time, the conglomerates would become more
integrated, handling the entire chain from basic ore production
through marketing, he added.
    "The key to future viability will be flexibility. Prices are
likely to remain at current historically low levels at least in
the medium term, and competition with other metals and
materials will continue to intensify," Goekmann said.
    "In the past, we have only reacted to changes in the world's
market and economics. In the future, we have to act less
defensively and more aggressively."
    The industry also has massive overcapacity and this problem
has to be tackled quickly, he added.
    "Attempts in the past to cut out this excess capacity in
Europe have all failed miserably. However, there is some hope
that current efforts may be successful," Goekmann said.
    At the same time, companies must move to limit their
geographical and currency risks and become far more marketing
orientated, he added.
    "With all these changes and rationalization, the industry
can survive to recover its past strength and profitability.
Without them, the future does not look very rosy," Goekmann
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22001" NEWID="18386">
<DATE>15-JUN-1987 11:55:08.66</DATE>
<TOPICS><D>pet-chem</D><D>rubber</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1482&#31;reute
w f BC-REICHHOLD-&lt;RCI>-UNIT   06-15 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>REICHHOLD &lt;RCI> UNIT HIKES PRICES ON PRODUCTS</TITLE>
<DATELINE>    DOVER, Del., June 15 - </DATELINE><BODY>Reichhold Chemicals Inc &lt;RCI.N> said
its emulsion polymers division increased its selling prices of
its polyvinyl acetate and vinyl acetate-acrylate latexes for
paper coating application by between two and four cts per dry
pound.
    The company attributed the price increases to the
continuing escalation of raw materials costs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21986" NEWID="18387">
<DATE>15-JUN-1987 11:59:07.22</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1496&#31;reute
r f BC-INT'L-PHOENIX-ENERGY   06-15 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>INT'L PHOENIX ENERGY &lt;IPYV> JOINS GOLD VENTURE</TITLE>
<DATELINE>    VANCOUVER, British Columbia, June 15 - </DATELINE><BODY>International
Phoenix Energy Corp said it launched a gold recovery venture
with &lt;Phoenix Exploration and Recovery Inc> and Mexico's
Sistemas Tecnicos De Recuperaciones, Sociedad Anonima de
Capital Variable.
    The company said the joint venture will explore and recover
gold, precious metals and artefacts from treasure ships worth
10 billion dlrs reported to have sunk in the harbor area of
Vera Cruz, Mexico.
    The company said it expects work to begin in 30 days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21987" NEWID="18388">
<DATE>15-JUN-1987 11:59:59.35</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1499&#31;reute
r f BC-INT'L-PHOENIX-ENERGY   06-15 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>INT'L PHOENIX ENERGY &lt;IPYV> JOINS GOLD VENTURE</TITLE>
<DATELINE>    VANCOUVER, British Columbia, June 15 - </DATELINE><BODY>International
Phoenix Energy Corp said it launched a gold recovery venture
with &lt;Phoenix Exploration and Recovery Inc> and Mexico's
Sistemas Tecnicos De Recuperaciones, Sociedad Anonima de
Capital Variable.
    The company said the joint venture will explore and recover
gold, precious metals and artefacts from treasure ships worth
10 billion dlrs reported to have sunk in the harbor area of
Vera Cruz, Mexico.
    The company said it expects work to begin in 30 days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22139" NEWID="18389">
<DATE>15-JUN-1987 12:07:52.41</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1558&#31;reute
u f BC-BASIN-PIPELINE-REOPEN   06-15 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BASIN PIPELINE REOPENS IN U.S. SOUTHWEST</TITLE>
<DATELINE>    NEW YORK, June 15 - </DATELINE><BODY>The Basin Pipeline in the Southwestern
U.S. reopened yesterday with the expectation that all crude oil
shipments for June will arrive on schedule, according to a
spokesman for Texaco Inc. &lt;TX>, operator of the pipeline
through its Texaco Pipeline Co subsidiary.
    "We project the pipeline will make all June crude shipments
scheduled," said Dan Stevens, the spokesman. 
    The pipeline reopened Sunday evening around 1900 EDT,
carrying an equivalent 280,000 barrels of crude oil per day
compared with an average 225,000 bpd shipped during the 30 days
before its shutdown on May 30, according to Stevens.
    Stevens said the increased shipments will make up for all
crude oil scheduled to arrive in Cushing, Oklahoma via the
pipeline by the end of June.
    The pipeline was shut May 30 because of an apparent rupture
caused by flooding of the Red River, near the Texas/Oklahoma
border. It was expected to resume service Saturday but rising
waters of the river, which had recently receded, delayed the
reopening, Stevens said. Approximately 1100 feet of new 24-inch
steel piping was installed under the river to replace damaged
piping, according to Stevens.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22088" NEWID="18390">
<DATE>15-JUN-1987 12:34:22.09</DATE>
<TOPICS><D>strategic-metal</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1709&#31;reute
d f BC-AMAX-INC-&lt;AMX>-USES-P   06-15 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>AMAX INC &lt;AMX> USES POND SYSTEM FOR MAGNESIUM</TITLE>
<DATELINE>    SALT LAKE CITY, Utah, June 15 - </DATELINE><BODY>AMAX Inc unit, AMAX
Magnesium Corp, said it will build a Knolls Solar Evaporation
Pond System for recovery of magnesium.
    The company said the system will replace a previous
recovery system which was flooded in 1986.
    The company said construction should be complete by 1988
and in full production by 1989.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21998" NEWID="18391">
<DATE>15-JUN-1987 12:40:21.75</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>canada</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1729&#31;reute
u f BC-JAPAN-BUYS-UP-TO-5,00   06-15 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BUYS UP TO 5,000 TONNES CANADIAN RAPESEED</TITLE>
<DATELINE>    WINNIPEG, June 15 - </DATELINE><BODY>Japanese crushers have bought 3,000 to
5,000 tonnes of Canadian rapeseed, trade sources said.
    Delivery dates and price details were not available.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21982" NEWID="18392">
<DATE>15-JUN-1987 13:00:55.02</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1827&#31;reute
d f BC-OLIN-&lt;OLN>,-NIPPON-GA   06-15 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>OLIN &lt;OLN>, NIPPON-GAKKI'S YAMAHA IN PACT</TITLE>
<DATELINE>    STAMFORD, Conn., JUne 15 - </DATELINE><BODY>Olin Corp said it formed a joint
venture with the Yamaha Group of Japan's Nippon-Gakki Co LTd to
manufacture Olin's high-performance copper alloys in Japan for
sale in the Far East.
    The new firm, Yamaha-Olin Metal Corp, will share facilities
with Yamaha in Iwata, which are expected to come on line in the
third quarter of 1988., it said.
    The two companies first joined forces in August 1983 when
Yamaha agreed to process and market one of Olin's alloys. The
agreement led to a 1985 reroll agreement that involved a number
of alloys, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22053" NEWID="18393">
<DATE>15-JUN-1987 13:19:48.53</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1884&#31;reute
u f BC-SPAIN-COMES-OUT-AGAIN   06-15 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN COMES OUT AGAINST EC FATS TAX</TITLE>
<DATELINE>    LUXEMBOURG, June 15 - </DATELINE><BODY>Spain has joined the group of
European Community countries opposed to the proposed tax on
marine and vegetable oils and fats, diplomatic sources said.
    They said the Spanish position was clarified at a joint
meeting here of EC finance and agriculture ministers to discuss
the budgetary situation surrounding this year's EC farm price
negotiations.
    Previously, West Germany, Britain, Portugal and Denmark
have declared themselves against the tax with Spain's position
unclear, the sources said.
    The sources said Spanish junior finance minister Guillermo
de la Dehesa said Spain was against the tax because of its
implications for world trade talks within the General Agreement
on Tariffs and Trade and because it was discrimatory by
excluding butter.
    They said the countries now opposed to the tax have far
more votes than needed under the EC's majority voting system to
block the proposal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21983" NEWID="18394">
<DATE>15-JUN-1987 13:21:08.52</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1888&#31;reute
d f BC-OLIN-NIPPON-GAKKI'S-Y   06-15 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>OLIN NIPPON-GAKKI'S YAMAHA IN PACT</TITLE>
<DATELINE>    STAMFORD, Conn., June 15 - </DATELINE><BODY>Olin Corp said it formed a joint
venture with the Yamaha Group of Japan's Nippon-Gakki Co Ltd to
manufacture Olin's high-performance copper alloys in Japan for
sale in the Far East.
    The new firm, Yamaha-Olin Metal Corp, will share facilities
with Yamaha in Iwata, which are expected to come on line in the
third quarter of 1988., it said.
    The two companies first joined forces in August 1983 when
Yamaha agreed to process and market one of Olin's alloys. The
agreement led to a 1985 reroll agreement that involved a number
of alloys, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21995" NEWID="18395">
<DATE>15-JUN-1987 13:23:10.25</DATE>
<TOPICS><D>veg-oil</D><D>cocoa</D><D>sugar</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1895&#31;reute
u f BC-CAOBISCO-CONDEMNS-EC   06-15 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>CAOBISCO CONDEMNS EC OILS AND FATS TAX PROPOSAL</TITLE>
<DATELINE>    LONDON, June 15 - </DATELINE><BODY>The proposed European Community (EC) levy
on oils and fats has been criticised by CAOBISCO, the
association of EC biscuit, chocolate and confectionery
manufacturers.
    In a letter to the President of the Council of Ministers,
M. Eyskens, the association said the tax would cost the EC
biscuit, cake, chocolate and confectionery industries almost
200 mln European currency units per year.
    The tax also was contrary to the spirit of the General
Agreement on Tariffs and Trade (GATT) and could prompt U.S.
Retaliatory measures on EC exports, CAOBISCO said.
    In a parallel move the British Biscuit, Cake, Chocolate and
Confectionery Alliance has written to U.K. Chancellor of the
Exchequer Nigel Lawson urging him to oppose the levy.
    President Charles Gillett said the tax was extending the
Commission's powers by allowing it to set levels of consumer
taxation, an area previously reserved for national treasuries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22012" NEWID="18396">
<DATE>15-JUN-1987 13:36:23.50</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>isa</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1940&#31;reute
u f BC-ISO-COMMITTEE-DOES-NO   06-15 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>ISO DEFERS DEBATE ON BUDGET CONTRIBUTIONS</TITLE>
<DATELINE>    LONDON, June 15 - </DATELINE><BODY>An International Sugar Organization (ISO)
committee discussed the terms of a new administrative
International Sugar Agreement but did not debate the most
controversial area of budget contributions, delegates said.
    Progress was made in a number of technical areas, but with
one of the main importers, the Soviet Union, unable to attend
because of prior commitments, the distribution of votes and
contributions was not raised, an ISO spokesman said.
    Delegates said private meetings are also taking place
between the main participants to discuss the details of the new
agreement. The committee is due to meet again tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21996" NEWID="18397">
<DATE>15-JUN-1987 13:45:10.26</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>ivory-coast</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1956&#31;reute
u f BC-POOR-RAINFALL-MAY-HIT   06-15 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>POOR RAINFALL MAY HIT IVORY COAST COCOA - TRADE</TITLE>
<AUTHOR>    By Brian Killen, Reuters</AUTHOR>
<DATELINE>    ABIDJAN, June 15 - </DATELINE><BODY>Lack of rainfall in recent weeks may
have affected Ivory Coast 1987/88 main crop cocoa prospects,
although good precipitation in the last half of June and in
July could still reverse the situation, trade sources said.
    They said the crop is still likely to be fairly large and
it is too early to determine the consequences of the dry spell
on the harvest.
    "This year's crop will probably be another good one. It is
impossible to tell how flowering is going, but there should be
no problems unless something drastic happens," one trader said.
    Private forecaster Accu-Weather reported today that most
Ivory Coast cocoa growing regions were without rain over the
weekend and similar weather will persist today and Tuesday.
    "Rain would be welcomed, as the past week has been quite
dry, except along the western portion of the coast," it said.
    Traders agreed rain was needed, but some noted that the dry
conditions had not affected the entire country.
    The Ivorian Meteorological Office could not be reached for
comment or recent statistics. The trade sources said rainfall
in recent weeks was likely insufficient for cocoa plants,
although it is difficult to assess what the minimum
requirements are.
    Trade sources said there had been good rains in late
January, February and March which helped to promote flowering,
but April and May were fairly dry in most areas except in the
south west of the country.
    The Ivory Coast mid-crop should have been covered by
March/April rains but the main crop, still in its formation
period, depends largely on rainfall from April through July.
    The main rains normally last between May and July, before
returning again in September/October. "Flowering has been less
than normal and if the trees are not carrying that much at the
moment, then they have a chance to recover," one trader said.
    Another trade source noted the flowers still had plenty of
time to develop and the rains were "not good but still not bad."
    The sources said that while the weather might emerge as a
cause for concern, crop conditions in West Africa were
presently taking a back seat to other factors in the
international cocoa market.
    This is not only because of the premature nature of any
harvest predictions but also because of the supply of cocoa
already burdening the market, they said.
    "With a third year of surplus overhanging the market and the
buffer stock failing to boost prices despite regular purchases,
the weather has not been a factor," one private consultant said.
    London-based dealer Gill and Duffus said in its April cocoa
market report the current 1986/87 Ivory Coast crop was likely
to total 570,000 tonnes, which compares with a record 1985/86
crop estimate of 585,000 tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22002" NEWID="18398">
<DATE>15-JUN-1987 13:45:26.40</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1957&#31;reute
r f BC-AMOCO-&lt;AN>-TO-BUILD-T   06-15 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>AMOCO &lt;AN> TO BUILD TAIWAN CHEMICAL PLANT</TITLE>
<DATELINE>    CHICAGO, June 15 - </DATELINE><BODY>Amoco Corp said a Taiwan petrochemical
venture in which it is part owner plans to build a chemical
plant in Taiwan.
    The company said the plant, to be built by China American
Petrochemical Co Ltd which is 50 pct owned by Amoco Chemical
Co, will make purified terephthalic acid (PTA), a raw material
used to make polyester fibers.
    It said the facility, China American's third PTA plant,
will have a capacity of 550 mln pounds of PTA annually.
    China American's other two owners are Chinese Petroleum
Corp, 25 pct, and Central Investment Holding Co, 25 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21981" NEWID="18399">
<DATE>15-JUN-1987 13:50:22.20</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1971&#31;reute
r f BC-EC-OFFICIAL-WARNS-U.S   06-15 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>EC OFFICIAL WARNS U.S. ON UNILATERAL TRADE MOVES</TITLE>
<DATELINE>    WASHINGTON, June 15 - </DATELINE><BODY>Roy Denman, the European Community
representative in Washington, warned the United States against
setting a rule that trading partners running a surplus should
be "beaten over the head" for not removing trade barriers.
    Denman, in an Op-Ed piece in today's Washington Post, said
trade disputes should be dealt with through negotiations,
either bilaterally or multilaterally, through the Geneva-based
United Nations agency, General Agreement on Tariffs and Trade,
GATT.
    Denman's comments came as the Senate was to begin debate
this week on a major trade bill.
    "It is dangerous to establish a rule that trading partners
running a surplus with the United States should be beaten over
the head if trade barriers objected to by the United States are
not removed within a certain time-scale," said Denman in an
apparent reference to some of the measures in the congressional
trade bill.
    "If we turn to the path of unilateral action, retaliation
and counter-retaliation, the one-world (GATT) trading system
will very quickly unravel," he said.
    Denman said the 170 billion dlr U.S. trade deficit was not
purely the result of unfair trade practices by foreign nations.
    "The trade deficit results from a combination of
macroeconomic factors (the U.S. budget deficit), the exchange
rate and the competitiveness of (U.S.) domestic industry,"
Denman said.
    He also said that Washington employed what he termed unfair
trade prctices.
    He said the European Community had recently updated a list
of some 30 U.S. trade barriers that impede EC exports.
    "We did not circulate this list with any hostile or
aggressive intent. We did so to set the record straight," Denman
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22172" NEWID="18400">
<DATE>15-JUN-1987 14:10:26.83</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>france</D><D>tunisia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2014&#31;reute
u f BC-TUNISIA-SETS-SOFT-WHE   06-15 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>TUNISIA SETS SOFT WHEAT BUYING TENDER ON JUNE 16</TITLE>
<DATELINE>    PARIS, June 15 - </DATELINE><BODY>Tunisia has launched a fresh buying tender
for 200,000 tonnes of French soft wheat for tomorrow for
shipping between July and September, trade sources said.
    Tunisia has in recent weeks cancelled several tenders,
which are covered by the French government's COFACE export
credits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22130" NEWID="18401">
<DATE>15-JUN-1987 14:19:12.89</DATE>
<TOPICS><D>crude</D><D>nat-gas</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;f2060&#31;reute
r f BC-PREMIERS,-GOVERNORS-P   06-15 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>PREMIERS, GOVERNORS PUSH EAST COAST DEVELOPMENT</TITLE>
<DATELINE>    Halifax, Newfoundland, June 15 - </DATELINE><BODY>The premiers of Canada's
eastern provinces and the governors of America's New England
states urged development of Canada's offshore oil and gas
fields and construction of a pipeline from Nova Scotia to New
England.
    Newfoundland premier Brian Peckford, speaking to the annual
conference of New England and eastern Canadian leaders, said
development would prevent a repetition of the energy crisis of
the early 1970s.
    The group also agreed to discuss energy and security of
supply next spring.
    Drilling off Canada's Atlantic coast has stalled since
world oil prices began tumbling two years ago. The resolution
supporting a natural gas pipeline from Nova Scotia to New
England has been on the agenda for six years, and this is the
sixth year it has been approved.
    The two-day conference ends tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22047" NEWID="18402">
<DATE>15-JUN-1987 14:25:49.81</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2084&#31;reute
r f BC-USX-&lt;X>/WORTHINGTON-P   06-15 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X>/WORTHINGTON PLANT REACHES DESIGN LEVELS</TITLE>
<DATELINE>    JACKSON, Mich., June 15 - </DATELINE><BODY>USX Corp said it and Worthington
Industries &lt;WTHG.O> Inc's Worthingon Specialty Products steel
processing plant in Jackson, Mich., has recently reached
production at the levels for which it was designed.
    The company said the 600,000 short ton per year plant is
designed to provide automotive, appliance and other customers
with first-stage processed steel for just-in-time delivery.
    It opened in August 1986, just as USX was beginning a
six-month labor dispute. USX is sourcing the plant with coils
from its Gary, Ind., works and Mon Valley Works near
Pittsburgh, and Worthington is operating the plant.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22054" NEWID="18403">
<DATE>15-JUN-1987 14:27:12.11</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>kiechle</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f2086&#31;reute
r f BC-GERMANY-PLANS-TO-RUSH   06-15 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMANY PLANS TO RUSH SPECIAL CREDITS TO FARMERS</TITLE>
<AUTHOR>    By Felix Dearden, Reuters</AUTHOR>
<DATELINE>    BONN, June 15 - </DATELINE><BODY>Bonn is expected to rush through
legislation this month creating special credits to protect West
German farmers from a proposed European Community, EC, payments
freeze, government sources said.
    The new measures are apparently designed to shield West
German farmers from the consequences of the looming EC budget
crisis and give Bonn scope to keep up its opposition to the EC
executive commission's farm policy reform plans, political
sources said.
    EC finance and farm minsters held an unprecedented joint
session in Luxembourg today to try to solve the stalemate over
future farm financing.
    West Germany has proved the main obstacle to Commission
attempts to raise fresh funds for farm financing by taxing
imports of vegetable oil and fats, for fear of U.S.
retaliation.
    Bonn has also opposed the abolition of an agri-monetary
mechanism that acts as a subsidy for West German farm exports.
    The draft legislation, which the ruling centre-right
coalition will present to parliament tomorrow, would provide
temporary credits for farm subsidies usually paid by Brussels.
    The Commission, facing a five billion European Currency
Units (5.73 billion dlrs) budget deficit by the end of the
year, has threatened to start phasing out payment of some
subsidies and premiums from August, unless EC member states
take urgent measures to provide fresh funds.
    West German Agriculture Minister Ignaz Kiechle gave the new
legislation top priority after last month's failure to agree to
a farm price package for 1986/87.
    Political sources in Bonn said Kiechle decided to take the
sting out of proposed Commission measures to cut back subsidies
by creating a buffer for West German farmers.
    The opposition SPD has agreed to back the Kiechle bill and
allow its hasty passage through parliament by July 1, ahead of
the summer recess, SPD sources said.
    SPD farm policy spokesman Jan Oostergetelo said his party
would support the bill, even though it would further swell
massive government spending on agriculture. He said the bill
was an admission that the government believes the farm price
talks will fail and the EC faces bankruptcy.
    According to a copy of the draft bill obtained by Reuters,
government authorities will have over two billion marks (1.1
billion dlrs) available to pay farmers advance subsidies and
premiums for grains and other crops harvested this summer.
    The Commission has agreed to pay the subsidies eventually.
But paying farmers on time will cost Bonn about 100 mln marks
(55 mln dlrs) in interest payments, farm policy sources said.
    Chancellor Helmut Kohl's cabinet is expected to support the
bill when it meets tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22102" NEWID="18404">
<DATE>15-JUN-1987 15:17:10.55</DATE>
<TOPICS><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2232&#31;reute
b f BC-/BAKER-SAYS-DOLLAR-DR   06-15 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SAYS DOLLAR DROP WOULD BE COUNTERPRODUCTIVE</TITLE>
<DATELINE>    INDIANAPOLIS, Ind., June 15 - </DATELINE><BODY>Treasury Secretary James
Baker said any further decline in the dollar against other
currencies would be counterproductive.
    Baker was asked after a speech to the Pan American Economic
Leadership Conference about U.S. policy in light of President
Reagan's comment last week at the Venice summit that he could
see some further decline in the dollar within reason.
    "All of the G-7 nations believe that any further decline in
the dollar would be counterproductive," Baker told reporters.
    Following the Venice press conference by Reagan, the White
House clarified Reagan's comments on the dollar by saying that
the United States wants a stable dollar.
    The main incentive for the United States to favor a weaker
dollar has been the need to reduce the massive trade deficit,
but the deficit has narrowed for the past two months and
appears to be responding to the 40 pct drop in the dollar
against the yen and the mark during the past two years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22028" NEWID="18405">
<DATE>15-JUN-1987 15:35:09.06</DATE>
<TOPICS><D>crude</D><D>heat</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;f2294&#31;reute
r f BC-HEDGERS-INCREASE-SHAR   06-15 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>HEDGERS INCREASE SHARE OF U.S. CRUDE OIL FUTURES</TITLE>
<DATELINE>    NEW YORK, June 15 - </DATELINE><BODY>Commercial hedgers increased their
stake in sales of U.S. crude oil and heating oil futures during
May, according to a U.S. federal agency report.
    Trade hedgers accounted for 64.7 pct of open short
positions in May, compared with 58.2 pct in April, and added
5,700 new sales in May, while liquidating almost 11,000
purchases, the report said.
    Speculators, in contrast, saw a decline in share of crude
oil shorts in May. May spec shorts totaled 13.6 pct versus 25.6
pct in April. The report was prepared by the Commodity Futures
Trading Commission.                                   
     In heating oil futures, commercial users accounted for
68.7 pct of short postions in May versus 58.2 pct in April and
added 311 new short positions.
    Gasoline futures saw little change in the percentage of
short or long positions held by commercial users, speculators,
or small traders, according to the CFTC report. Trade users 
accounted for 72.5 pct of short gasoline futures positions in
May, compared with a revised 75.7 pct in April.
 New York Mercantile Exchange
 Commitments of traders, May 29, 1987
             SPECULATOR   SPREADERS HEDGERS   TOTAL
           LONG SHRT LONG SHRT LONG SHRT LONG SHRT
 HEATING   16.1  5.7 2.5  2.5  49.7 68.7 68.2 76.8
  OIL      SMALL TRADERS - long 31.8 short 23.2
 UNLEADED  10.8  4.0 7.0  7.0  64.4 72.5 82.3 83.6
  GAS      SMALL TRADERS - long 17.7 short 16.4
 CRUDE     15.1 13.6 5.5  5.5  61.2 64.7 81.8 83.8
  OIL      SMALL TRADERS - long 18.2 short 16.2
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22033" NEWID="18406">
<DATE>15-JUN-1987 15:40:15.36</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;f2313&#31;reute
h f BC-BEAR-AUTOMOTIVE-&lt;BEAR   06-15 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>BEAR AUTOMOTIVE &lt;BEAR.O> TO TRADE ON NASDAQ</TITLE>
<DATELINE>    MILWAUKEE, WIS., June 15 - </DATELINE><BODY>Bear Automotive Service
Equipment Co said its common stock will begin trading June 16
on the NASDAQ National Market System.
    The company manufactures computerized electronic diagnostic
and wheel alignment equipment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22048" NEWID="18407">
<DATE>15-JUN-1987 16:19:46.15</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2409&#31;reute
r f BC-AM-GERMANY-STEEL   06-15 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN STEEL INDUSTRY TO SEEK LAY-OFF FUNDS</TITLE>
<AUTHOR>    By Felix Dearden, Reuters</AUTHOR>
<DATELINE>    BONN, June 15 - </DATELINE><BODY>The West German Government will be asked
June 16 to provide nearly 850 million marks (470 million
dollars) to lay off or retrain 20,000 steel workers whose jobs
are threatened by the recent slump in the country's steel
industry.
    Government spokesman Friedhelm Ost said Chancellor Helmut
Kohl will review a joint proposal by steel employers and trade
unions at a meeting on the ailing industry tomorrow.
    Both steel employers and union leaders are expected to tell
Kohl tomorrow that the Government has failed to do enough to
protect German steel firms from subsidies and unfair
competition from other European Community members.
    Government sources said Bonn was prepared to take part in a
common effort to find a solution for the steelworkers. But
since the Government is struggling to finance tax cuts by
slashing state subsidies, it is not prepared to pick up the
whole bill for the layoffs, the sources said.
    A spokesman for IG Metall, the metalworkers' trade union,
said the proposal seeks redundancy payments to 10,000 workers
in Ruhr and Rhineland plants. Some 6,000 workers would be
redeployed in non-steel making sectors of steel companies,
while a further 4,000 would be eligible for job-retraining
schemes.
    The union estimates that the redundancy payments would
total 600 million marks (340 million dollars), while job
retraining schemes would cost a further 240 million marks (130
million dollars).
    Up to 30,000 West German steel jobs are at risk in the next
few years following steep losses incurred by the industry since
mid-1986.
    Extensive restructuring of the industry in recent years was
unable to compensate for the effects of the weak dollar which
depressed foreign demand for steel, industry sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21978" NEWID="18408">
<DATE>15-JUN-1987 16:34:43.47</DATE>
<TOPICS><D>grain</D><D>corn</D><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2457&#31;reute
u f BC-/NO-YIELD-DAMAGE-YET   06-15 0145</UNKNOWN>
<TEXT>&#2;
<TITLE>NO YIELD DAMAGE YET IN U.S. CORN, BEANS - USDA</TITLE>
<DATELINE>    WASHINGTON, June 15 - </DATELINE><BODY>The U.S. corn and soybean crops are
in mostly good condition and have not suffered any yield
deterioration from recent hot, dry weather, Agriculture
Department and private weather and crop analysts said.
    "I don't see any reduction in yield potential yet," Norton
Strommen, chief meteorologist at USDA told Reuters. "The (corn
and soybean) crop is actually in mostly good condition and is
progressing ahead of normal, which is good," he said.
    Abnormally hot, dry weather in midwestern crop areas
sparked a sharp rally in Chicago futures today, causing new
crop soybeans to advance the 30 cent daily limit to 6.14 dlrs
per bushel and September corn to go up 12 cents to 2.81 dlrs.
    "This rally is amazing," a private crop analyst said. "Corn,
soybeans and wheat are in excellent condition."
    The USDA meteorologist said the only effects of the warm,
dy weather on crops so far has probably been to speed up
development of the crop, which will help the crop better cope
with stress later in its more critical growing period.
    "What this weather will do is simply push the crop towards
rapid development of a good, deep root system to draw on the
subsoil reserve. It actually strengthens the crop to go through
a little stress early on," Strommen said.
    Strommen noted that subsoil moisture is in good shape in
most growing areas.
    Strommen and other private crop analysts noted corn and
soybeans will not enter their critical growth stages until July
and August.
    But because of its early development this year, Strommen
said the midwestern corn crop could enter its reproduction
period by the first of July.
    "Weatherwise, if the market is truly concerned about corn or
soybeans, it should be more concerned about corn. But the
dryness still has to last for another two to three weeks," an
analyst said.
    Soybeans, on the other hand, can withstand several more
weeks of dryness before yields start deteriorating, crop
analysts agreed.
    August and September are the critical yield-producing
months for soybeans, Strommen said.
    "The sole purpose of the soybean plant is to simply survive
during May, June and July until the August rains which
determine the crop," a crop analyst said.
    Some analysts contend, however, that in certain growing
areas the crop has not been receiving enough moisture to ensure
that there will not be problems later.
    Strommen noted the USDA's current six to 10 day weather
forecast calls for above normal temperatures and below normal
precipitation in much of the corn belt.
    "This opens up all sorts of speculation," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21977" NEWID="18409">
<DATE>15-JUN-1987 17:19:51.88</DATE>
<TOPICS><D>grain</D><D>oilseed</D><D>soybean</D><D>corn</D><D>meal-feed</D><D>soy-meal</D></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;f2591&#31;reute
d f BC-media-summary   06-15 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>HOT WEATHER PUSHES CBT GRAINS TO NEW HIGHS</TITLE>
<DATELINE>    CHICAGO, June 15 - </DATELINE><BODY>Hot, dry weather over the Midwest, with
more forecast, pushed grain futures prices to new highs today
on the Chicago Board of Trade.
    Soybean futures led the advance, closing up the
30-cent-per-bushel daily trading limit in contracts for
delivery after this year's fall harvest. All months set
life-of-contract highs and November closed at 6.23 dlrs a
bushel.
    "The market is anticipating that it will stay hotter than
normal for some time out," said David Bartholomew, assistant
vice president for Merrill Lynch. "We have probably gone as
high as we need to go at this time, but I don't know how to
measure the euphoria level."
    Soymeal futures, which led the grain rally last week,
posted contract highs and ended up the 10 dlr a ton daily limit
in new-crop contracts. December closed at 195.70 dlrs.
    Corn futures set contract highs in March through September,
with December closing up the 10 cent a bushel limit at 2.11-3/4
dlrs. Wheat posted more modest gains as dry weather improved
harvest conditions in the southern Midwest.
    The hot weather could stress developing corn and soybean
plants in the Midwest, although some periods of dryness benefit
young plants by encouraging the development of deep root
systems, Bartholomew said.
    European demand for U.S. soybeans and meal contributed to
active buying here and an estimated 2.0 mln bushels of soybean
orders went unfilled at the close, traders said.
    After trading ended, a U.S. Agriculture Department (USDA)
meteorologist said the U.S. corn and soybean crops have not
suffered any yield loss yet from hot, dry weather.
    Strong grain futures ignored weakness in the value of the
dollar, which can depress prices by making grains more
expensive for foreign buyers.
    But the surge in soybeans encouraged buying at New York's
COMEX, where silver futures recovered from early lows to settle
steady.
    Managed fund traders bought silver on the belief that the
weather-spurred jump in grain futures will revive fears of
inflation. But the weak dollar pressured COMEX gold futures,
which closed down following last Friday's news of improved U.S.
trade deficit figures and better U.S. producer prices.
    A USDA report released after trading said the number of
cattle being fed in seven major producing states was above
levels expected by traders. Traders said the report would
probably push live cattle futures lower tomorrow at the Chicago
Mercantile Exchange.
    USDA put cattle-on-feed in the seven major states at 7.52
mln head, 106 pct of a year ago and at the high end of trade
forecasts.
    A total of 1.954 mln head were placed on feed during May,
up 111 pct from a year ago, and May cattle marketings were off
93 pct at 1.524 mln head, USDA said.
    Cattle futures closed mixed in choppy trading today as hot
weather slowed consumer demand for red meat, traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22106" NEWID="18410">
<DATE>15-JUN-1987 17:25:18.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>amex</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2610&#31;reute
u f BC-SPENDTHRIFT-&lt;SFI>-REM   06-15 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>SPENDTHRIFT &lt;SFI> REMOVED FROM AMEX</TITLE>
<DATELINE>    LEXINGTON, KY, JUne 15 - </DATELINE><BODY>Spendthrift Farm Inc said it has
consented to its removal from the American Stock Exchange due
to its failure to meet financial listing requirements.
    The last day for Spendthrift trading shall be June 26.
    The company also said its board named Dale McDoulett,
formerly president of Diamond Shamrock International Petroleum
Co, as president replacing Robert Hagopian who resigned
February 7.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21989" NEWID="18411">
<DATE>15-JUN-1987 17:30:22.76</DATE>
<TOPICS><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2627&#31;reute
r f BC-NORANDA-&lt;NOR.TO>-IN-T   06-15 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NORANDA &lt;NOR.TO> IN TALKS WITH BRUNSWICK MINERS</TITLE>
<DATELINE>    TORONTO, June 15 - </DATELINE><BODY>Noranda Inc said contract talks that
resumed today were continuing with about 1,600 unionized
workers at its 63 pct-owned Brunswick Mining and Smelter Corp
&lt;BMS.TO> lead-zinc mine and lead smelter at Bathurst, New
Brunswick.
    A Noranda official said in reply to an inquiry that the
talks involved both the mine and smelter union locals, which
are part of the United Steelworkers of America.
    The mineworkers' contract expires July 1. They will vote on
June 22 either to authorize a strike or ratify a possible
contract offer. The smelter workers' pact expires July 21.
    The Brunswick mine produced 413,800 tonnes of zinc and
206,000 tonnes of lead last year at a recovery rate of 70.5 pct
zinc and 55.6 pct lead. Concentrates produced were 238,000
tonnes of zinc and 81,000 tonnes of lead.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21990" NEWID="18412">
<DATE>15-JUN-1987 17:35:23.35</DATE>
<TOPICS><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2640&#31;reute
r f BC-COMINCO-&lt;CLT.TO>-TALK   06-15 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT.TO> TALKS STILL STALLED</TITLE>
<DATELINE>    Trail, British Columbia, June 11 - </DATELINE><BODY>Cominco Ltd has no
contract negotiations scheduled this week with any of the five
striking locals at the Trail smelter and Kimberley lead-zinc
mine, union spokesmen said.
    However, leaders of the negotiating teams are trying to set
up an informal meeting to discuss the stalemate, said John
Owens, spokesman for United Steelworkers of America local 480,
which is one of three locals that represents 2,600 production
and maintenance workers.
    Owens also said Cominco has said the strike is costing it
five mln Canadian dlrs a day in debt service costs that are not
covered by revenue. He said the company has not estimated total
lost revenue and Cominco spokesmen were not immediately
available for comment.
    The strike, which began May nine, also involves two locals
that represent 600 office and technical workers.
    The production and maintenance workers three weeks ago
rejected a tentative three-year agreement that provided cost of
living adjustments but no basic wage increase.
    Each of the five locals has a separate contract that
expired April 30, but the main issues are similar.
    The Trail smelter produced 240,000 long tons of zinc and
110,000 long tons of lead last year. The Sullivan mine at
Kimberley produced 2.2 mln long tons of ore last year, most for
processing at the Trail smelter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22173" NEWID="18413">
<DATE>15-JUN-1987 17:51:23.48</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>benin</D><D>ivory-coast</D><D>ghana</D><D>togo</D><D>burkina-faso</D><D>cameroon</D><D>gabon</D><D>liberia</D><D>niger</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2690&#31;reute
u f BC-MORE-EEP-WHEAT-FOR-WE   06-15 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>MORE EEP WHEAT FOR WEST AFRICAN COUNTRIES-USDA</TITLE>
<DATELINE>    WASHINGTON, June 15 - </DATELINE><BODY>U.S. exporters will have the
opportunity to sell 170,000 tonnes of wheat to West African
countries under the Export Enhancement Program, the U.S.
Agriculture Department said.
    It said in addition to Benin, Cameroon, Ivory Coast, Ghana
and Togo, four more countries -- Burkina Faso, Gabon, Liberia
and Niger -- have been declared eligible under the initiative.
    The export sales will be subsidized with commodities from
the inventory of the Commodity Credit Corporation (CCC), it
said.
    West African countries have already purchased 129,500
tonnes of wheat under previously announced export bonus
programs, it noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21991" NEWID="18414">
<DATE>15-JUN-1987 17:59:44.98</DATE>
<TOPICS><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2714&#31;reute
r f BC-NORANDA-IN-TALKS-WITH   06-15 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>NORANDA IN TALKS WITH BRUNSWICK LEAD-ZINC MINERS</TITLE>
<DATELINE>    TORONTO, June 15 - </DATELINE><BODY>Noranda Inc said contract talks resumed
with about 1,600 unionized workers at its 63 pct-owned
Brunswick Mining and Smelter Corp lead-zinc mine and lead
smelter at Bathurst, New Brunswick.
    A Noranda official said talks involved both the mine and
smelter union locals, which are part of the United Steelworkers
of America.
    The mineworkers' contract expires July 1. They will vote on
June 22 either to authorize a strike or ratify a possible
contract offer. The smelter workers' pact expires July 21.
    The Brunswick mine produced 413,800 tonnes of zinc and
206,000 tonnes of lead last year at a recovery rate of 70.5 pct
zinc and 55.6 pct lead. Concentrates produced were 238,000
tonnes of zinc and 81,000 tonnes of lead.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21976" NEWID="18415">
<DATE>15-JUN-1987 18:10:09.49</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D><D>comex</D><D>cbt</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2736&#31;reute
r f AM-GOLD   06-15 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>THREE U.S. EXCHANGES VIE FOR GOLD</TITLE>
<AUTHOR>    By Patricia Campbell, Reuters</AUTHOR>
<DATELINE>    CHICAGO, June 15 - </DATELINE><BODY>The glitter of gold has generated a
three-way competition among the world's largest futures
exchanges for a 100-ounce contract for the precious metal.
    When the Chicago Mercantile Exchange (CME) re-introduces
gold futures trading here Tuesday (at 9 a.m. CDT), it will go
toe-to-toe in an uphill battle against the Commodity Exchange
Inc. of New York (Comex), which brokerage executives describe
as the world's precious metals futures capital for
institutional business.
    And by autumn, the oldest and biggest exchange, the Chicago
Board of Trade (CBT), expects to join the fray when the
Commodity Futures Trading Commission (CFTC) approves a pending
application for a 100-ounce gold contract to trade side-by-side
with the CBT's smaller, one kilogram (about 2.5 U.S. pounds)
gold futures.
    The CME introduced a 100-ounce gold futures contract in
1974, but lack of interest forced it to abandon the instrument
in July 1986.
    CME officials said investors and brokerage firms asked the
exchange to reintroduce the contract because of recent
volatility in precious metals. Other factors influencing the
decision may also have been clearing problems in May which
forced the Comex to shorten trading for three straight days in
an effort to clear up a huge backlog of unresolved trades,
especially in silver futures.
    Comex's problems may now create a window of opportunity for
other exchanges to successfully offer precious metals
contracts, industry sources say.
    But it is much too early to predict whether other exchanges
can inflict serious damage on the Comex' daily trading volume
of more than 40,000 contracts which represents commitments to
buy and sell gold of more than 2 billion dlrs.
    While average daily trading in the CBT's smaller gold
contract, aimed at retail customers rather than institutions,
was under 500 contracts per day throughout 1986, it has
surpassed 1,000 contracts daily for the past two months.
    "The climate could not be better for this venture by the
CME," said Merrill Lynch Commodity Marketing Vice President Neil
McGarrity.
    "Everybody is talking about metals now, and interesting
daily trading ranges provide opportunities for bulls and bears.
There's good trading volume in all world outlets," McGarrity
added.
    "The Merc's gold futures would be insurance for dealers,
merchants and customers that there would be a market open for
trading," if heavy gold or silver futures volume causes the
Comex to close early again, said Jack Lehman, senior vice
president and director of commodities for Shearson Lehman Bros.
Inc. and a Comex board member.
    Delivery points vary for each exchange's 100-ounce gold
futures. Comex contracts are deliverable through New York
warehouses while the CME contract specifies London delivery
through a CME account at Samuel Montagu and Co. Ltd., a member
of the London gold market. The CBT gold application specifies
delivery from New York and Chicago vaults.
    The Comex and the CBT have applied to the CFTC for an
earlier precious metals opening to match the CME's starting
time of 7:20 a.m. CDT. The exchanges said the earlier start
allows for trading before many important government reports are
released at 7:30 a.m. CDT.
    CME marketing sources said arbitrage possibilities exist
with side-by-side trading, noting local interests can be
generated by traders dealing in foreign currency and short-term
debt futures along with gold futures contracts to further hedge
their financial risks.
    "If the dollar rises, traders can sell currencies and buy
gold," said David Johnson, CME's manager of currency products.
    The Chicago Board of Trade sees an extra advantage to gold
trading. "Given our night trading session, we could add either
our pending 100-ounce gold or our existing 5,000-ounce silver
contract to attract overseas business," a CBT official said.
    Which market is identified as the precious metal capital
does not appear to be a major issue among professionals.
    "We've seen Chicago bring in a new constituency before, with
perhaps different needs," Mocatta Metals Chairman Dr. Henry
Jarecki said.
    "Merchants will go to the CME or anywhere to trade a liquid
contract. Our firm is no exception," Jarecki said.
    "At worst, even if the CME gold futures fail, the Comex will
be under pressure to improve the integrity of its clearing
processes," a CME official added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21992" NEWID="18416">
<DATE>15-JUN-1987 18:14:22.94</DATE>
<TOPICS><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2743&#31;reute
r f BC-COMINCO-&lt;CLT.TO>-TALK   06-15 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO STRIKE TALKS STILL STALLED</TITLE>
<DATELINE>    TRAIL, British Columbia, June 15 - </DATELINE><BODY>Cominco Ltd has no
contract negotiations scheduled this week with any of the five
striking locals at the Trail smelter and Kimberley lead-zinc
mine, union spokesmen said.
    However, leaders of the negotiating teams are trying to set
up an informal meeting to discuss the stalemate, John Owens,
spokesman for United Steelworkers of America local 480 said.
    Owens said Cominco has said the strike, which began May 9,
is costing it five mln Canadian dlrs a day in debt service
costs that are not covered by revenue. He said the company has
not estimated total lost revenue.
    Cominco spokesmen were not immediately available for
comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21979" NEWID="18417">
<DATE>15-JUN-1987 18:36:23.57</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;f2761&#31;reute
u f BC-ASCS-TAKES-STEPS-TO-E   06-15 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>ASCS TAKES STEPS TO EASE SALES OF CCC SOYBEANS</TITLE>
<DATELINE>    KANSAS CITY, JUNE 15 - </DATELINE><BODY>The Agricultural Stabilization and
Conservation Service announced several temporary steps to
enable it to respond more quickly to the high demand for
Commodity Credit Corp.-owned soybeans.
    The CCC has suspended its practice of contacting storing
warehousemen before selling soybeans for cash to a third party,
said Collyn Peterson, deputy director in the ASCS Kansas City
office.
    In addition, he said, minimum quantities for sales will be
25,000 bushels, or all of a warehouse total inventory if less
than that.
     ASCS has added telephone lines to handle calls from those
interested in buying soybeans, Peterson said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22097" NEWID="18418">
<DATE>15-JUN-1987 18:38:03.01</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>kuwait</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2762&#31;reute
r f AM-GULF-AMERICAN (SCHEDULED)  06-15 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN SENDS KUWAITI PLAN TO CONGRESS</TITLE>
<DATELINE>    WASHINGTON, June 15 - </DATELINE><BODY>President Reagan today sent a
classified report to Congress on his plan to protect Kuwaiti
oil tankers with U.S. military escorts.
    Congressional officials said the report, received by House
Speaker Jim Wright and Senate majority leader Robert Byrd, will
not be made public.
    Congress has demanded a detailed security plan on how U.S.
warships and servicemen would be protected from possible attack
in the Gulf region, scene of the prolonged war between Iran and
Iraq.
    White House spokesman Marlin Fitzwater said the
Administration intended to push ahead with the plan despite
strong opposition in Congress.
    He said the report to Congress provided a comprehensive
overview of Administration strategy in the Gulf, adding the
military escort plan would begin "when the President was
satisfied that all preparations had been completed
satisfactorily".
    Fitzwater did not say when this might be, but denied the
protection plan was being held up.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22140" NEWID="18419">
<DATE>15-JUN-1987 19:15:52.01</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2798&#31;reute
u f BC-ECUADOR-ACCEPTS-BIDS   06-15 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR ACCEPTS EXPLORATION BIDS</TITLE>
<DATELINE>    QUITO, June 15 - </DATELINE><BODY>Ecuador is accepting bids from companies
wishing to explore for crude oil in a 1.2-million-hectare area
in the southeast of the country, a spokesman for the Ecuadorian
State Oil Company (CEPE) said.
    The spokesman said companies have until October 15 to
present their bids and until the middle of next year to sign
contracts.
    Competitors may bid for six alternative 200,000-hectare
areas, in the southeast forest bordering Peru and in the
western coastal plain around the Pacific.
     Petrocanada will start by drilling two exploratory wells
in a 200,000 hectare area.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22055" NEWID="18420">
<DATE>15-JUN-1987 19:47:46.39</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2826&#31;reute
u f PM-COMMUNITY-AGRICULTURE   06-15 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>EC CONSIDERS NEW PROPOSALS TO END FARM DEADLOCK</TITLE>
<AUTHOR>    By Gerrard Raven, Reuters</AUTHOR>
<DATELINE>    LUXEMBOURG, June 16 - </DATELINE><BODY>The European Community (EC) executive
Commission will today urgently consider whether to take a new
initiative to break the current deadlock over reform of the
bloc's farm policy and to ease its budgetary crisis.
    The Commission will meet in Strasbourg following what
diplomats described as a largely fruitless special joint
meeting of farm and finance ministers on the issue in
Luxembourg Monday.
    Commission officials said farm commissioner Frans
Andriessen will ask the 17-man body for permission to present
farm ministers with a compromise plan revising proposals for
1987/88 farm prices which have divided them since they were
first announced in March.
    The most controversial aspects of these proposals are a
plan to tax all vegetable and marine oils and fats to finance
rapidly increasing production subsidies and technical measures
which would change the way common EC farm prices are converted
into member state currencies.
    West German delegation sources, who have opposed both plans
fiercely, said if the Commission dropped the oils and fats tax
plan and modified the currency proposals, there would be a
chance of agreement on other aspects of the package.
      These include measures to cut the effective price paid to
farmers for cereals and some other crops by over 10 pct.
      But a Commission spokesman said any new proposals would
include plans for revising the current oils and fats and
currency regulations.
     The Commission is anxious to avoid a complete deadlock in
meetings of EC farm ministers here this week as it fears issues
could then be referred to the EC heads of government summit at
the end of the month.
    Commission president Jacques Delors, who wants to ensure
the summit has ample time to consider proposals for new means
of financing the cash-strapped EC, said yesterday it would be
"disastrous" if farm issues had to be discussed by government
leaders.
    However, with a five billion European Currency Unit (5.75
billion dollar) EC budget deficit almost inevitable this year,
the Commission will be wary of making major concessions to the
traditionally free-spending farm ministers, diplomats said
    Belgian finance minister Mark Eyskens, who chaired
yesterday's joint meeting of ministers, said afterwards some
aspects of the farm price package will almost certainly have to
be referred to the summit.
    Although Delors' aides described the joint meeting as
useful in clarifying the issues, some diplomats said it seemed
to have merely confirmed member states' long held positions.
    Indeed, they said an extra state, Spain, seemed to have
lined up with the four others already opposing the oils and
fats tax, West Germany, Britain, Denmark and Portugal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22065" NEWID="18421">
<DATE>15-JUN-1987 20:41:35.61</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2871&#31;reute
d f AM-JOBS   06-15 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>STUDY SAYS U.S. EMPLOYMENT NOT JEOPARDIZED BY BORDER PLANTS</TITLE>
<DATELINE>    MCALLEN, Texas, June 15 - </DATELINE><BODY>The growing shift of low-skilled
manufacturing jobs from the United States to Mexican border
cities is not a threat to American employment because it will
help create new markets for products, according to a study
released today.
    Richard Bolin, director of the Flagstaff Institute of
Arizona, which studies international trade issues, said the
United States needs to encourage the expansion of manufacturing
in developing countries so that those nations can become
consumers of more U.S. goods.
    His study was commissioned by the border city of McAllen,
Texas, for presentation to the International Trade Commission
which is gathering information for a report to Congress on what
changes may be needed in the U.S. tariff codes to prevent the
loss of jobs and industry.
    McAllen and other Texas border cities have benefitted from
a trend among U.S. companies to build twin plants that employ
factory workers on both sides of the U.S.-Mexico border.
    More than 700 manufacturers are taking advantage of lenient
tax codes that allow U.S. companies to bring raw goods into
Mexico for assembly by low-skilled workers into products that
are completed by U.S. workers at a nearby sister plant.
    Bolin said his research indicated that the shift in
low-paying jobs across the border reflected changing
demographics of the U.S. workforce.
    "In the post-baby boom era, fewer workers will be available
to fill these low-skill jobs -- and these workers will be
better educated than prior generations," Bolin told reporters in
McAllen.
    "The jobs in low-tech industries that are being exported to
other countries are, for the most part, jobs that we may not be
able to fill in the future."
    U.S. employment in less-skilled manufacturing jobs plunged
by more than 900,000 between 1977 and 1982, largely due to the
transfer of jobs outside U.S. borders, he said. American
employment in high-tech industries increased by 634,000 during
the same period, he said.
    But high-tech industries, those in which engineers make up
more than six percent of the workforce, pay higher wages and
generate more U.S. exports than low-tech businesses, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22103" NEWID="18422">
<DATE>15-JUN-1987 21:42:33.86</DATE>
<TOPICS><D>dlr</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 V
&#22;&#22;&#1;f2905&#31;reute
u f BC-JAPAN-MINISTRY-SAYS-D   06-15 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN MINISTRY SAYS DOLLAR SHOULD BE ABOVE 170 YEN</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>The dollar should worth more than 170 yen
based on purchasing power parity, the Ministry of International
Trade and Industry (MITI) said in its annual white paper on
international trade.
    Using 1973 as a base year, the ministry said inflation
differentials pointed to a yen/dollar rate of 172 in fourth
quarter 1986. The dollar opened here today at 144.90 yen.
    MITI also said the so-called "J-curve" and the drop in oil
prices together accounted for 33.2 billion dlrs of the 36.6
billion dlr rise in Japan's trade surplus last year.
    On a customs cleared basis, the Japanese trade surplus rose
to a record 82.66 billion dlrs last year.
    The ministry said the fall in oil prices accounted for 16.5
billion dlrs and the "J-curve" 17.2 billion dlrs of the rise in
the 1986 surplus.
    Analyzing the expansion in Japan's trade imbalance in
recent years, MITI calculated that 37 pct of it could be
accounted for by exchange rates, 24 pct by differences in
economic growth rates between Japan and other countries, and 36
pct by so-called price elasticities of imports and exports.
    Analyzing the expansion in the U.S. Trade deficit from 1982
to 1985, the ministry said 24 pct was accounted for by exchange
rates, 34 pct by differences in the income elasticity of
imports and exports and 39 pct by differences in economic
growth rates. The figures do not tally to 100 pct because other
minor factors have been left out.
    "One index of trade structure, the income elasticity of
exports and imports, shows that the U.S. Is more likely to
experience increases in imports, while Japan is structurally
predisposed to growth in exports," MITI said.
    Structural adjustment is already underway in Japan, under
the impact of the strong yen, MITI said. Japanese companies are
stepping up their imports and expanding capacity overseas.
    Japanese consumer attitudes are also changing. The ministry
cited a survey showing that price was now the number one factor
in the purchase of imports from the U.S. And Western Europe,
replacing design and brand reputations.
    "The smooth adjustment of the economic structure calls for
measures to address the needs of affected firms," it said. "Whole
industries have felt the pinch and employment is expected to
suffer."
    "Sustained economic growth, led by domestic demand, will
also be an essential condition," the ministry said.
    It said four structural factors have contributed to the
growth of the U.S. Trade deficit in recent years -- a decline
in U.S. Industrial competitiveness, insufficient productive
capacity, an increase in foreign procurement by U.S. Companies
and short-sighted U.S. Management attitudes.
    "While (U.S.) exports have picked up somewhat with the
dollar's fall in value, no marked improvements have appeared in
the import picture," MITI said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22148" NEWID="18423">
<DATE>15-JUN-1987 22:15:57.71</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f2929&#31;reute
u f BC-MIYAZAWA-SAYS-JAPANES   06-15 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS JAPANESE ECONOMY BOTTOMED OUT</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>The Japanese economy has bottomed out
after an extended period of stagnation, Finance Minister Kiichi
Miyazawa told a press conference.
    But he said he was not too optimistic about the state of
the economy as the employment situation was still shaky in
certain regions of the country.
    Yesterday, the Finance Ministry said its quarterly
corporate survey showed that the economy was showing increasing
signs of recovery.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22074" NEWID="18424">
<DATE>15-JUN-1987 22:18:43.14</DATE>
<TOPICS><D>money-supply</D><D>reserves</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2931&#31;reute
u f BC-TAIWAN-ISSUES-MORE-CD   06-15 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ISSUES MORE CDS TO CURB MONEY SUPPLY GROWTH</TITLE>
<DATELINE>    TAIPEI, June 16 - </DATELINE><BODY>The Central Bank has issued 8.29 billion
Taiwan dlrs worth of certificates of deposit (CDs), raising
total CD issues so far this year to 228.27 billion, a bank
official told Reuters.
    The CDs, with maturities of six months, one and two years,
bear interest rates ranging from 4.05 to 5.25 pct, she said.
    The issues are intended to help curb the growth of the M-1b
money supply which is expanding due to the rise in Taiwan's
foreign exchange reserves, now at some 60 billion U.S. Dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22072" NEWID="18425">
<DATE>15-JUN-1987 22:58:48.26</DATE>
<TOPICS><D>bop</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>keating</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f2960&#31;reute
u f BC-KEATING-REVISES-1986/   06-15 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>KEATING REVISES 1986/87 AUSTRALIA PAYMENTS DEFICIT</TITLE>
<DATELINE>    CANBERRA, June 16 - </DATELINE><BODY>Treasurer Paul Keating said he now
expected the Australian current account deficit for fiscal
1986/87 ending June 30 to come in around 13.25 billion dlrs.
    In a statement released after Statistics Bureau figures
showed the May deficit was below forecasts at 866 mln dlrs,
Keating said the cumulative deficit is now likely to be about
1.5 billion dlrs below the Treasury forecast of 14.75 billion
issued with the 1986/87 Budget papers last August.
    However, the government had subsequently revised the
forecast to around 13.75 billion dlrs after a series of current
account figures indicated a declining trend.
    Keating's revised 1986/87 current account deficit forecast
compares with a record shortfall of 14.40 billion dlrs in
1985/86, a level nearly double the 7.29 billion deficit
recorded only two years earlier in 1983/84.
    Keating said the main reason for his revision was a
better-than-expected export performance. Recent quarterly
figures showed export volumes rose 14.4 pct in the half-year to
March 30 while import volumes rose only 0.9 pct, he said.
    The Bureau data issued today showed the cumulative deficit
for the first 11 months of 1986/87 narrowed to 12.32 billion
dlrs from 13.21 billion a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22098" NEWID="18426">
<DATE>15-JUN-1987 23:12:30.59</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>panama</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f2971&#31;reute
u f BC-PANAMA-CANAL-UNAFFECT   06-15 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>PANAMA CANAL UNAFFECTED BY POLITICAL PROTEST</TITLE>
<DATELINE>    PANAMA CITY, June 15 - </DATELINE><BODY>The Panama Canal, one of the world's
key maritime crossroads, has not been affected by the recent
anti-government protests here, a spokesman for the
U.S.-government agency that operates the waterway said.
    "Everything's normal here. It (the canal) is running
efficiently and everything is going well," said Anel Beliz,
spokesman for the Panama Canal Commission.
    The commission was monitoring the situation and
contingencies exist to ensure continued operation, he said.
Unconfirmed reports said several shipping lines had ordered
their vessels away from Panama until further notice.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21980" NEWID="18427">
<DATE>15-JUN-1987 23:14:55.75</DATE>
<TOPICS><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>taiwan</D><D>uruguay</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f2973&#31;reute
u f BC-TAIWAN,-URUGUAY-IN-PR   06-15 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN, URUGUAY IN PRICE DISPUTE OVER SOYBEANS</TITLE>
<DATELINE>    TAIPEI, June 16 - </DATELINE><BODY>Uruguayan suppliers have agreed to supply
Taiwan with only 25,000 tonnes of soybeans out of a total
70,000 tonnes agreed in April, a spokesman for the joint
committee of Taiwan's soybean importers told Reuters.
    He said a rise in world prices had made the Uruguayans
reluctant to ship any soybeans at the agreed price of 226.56
U.S. Dlrs per tonne.
    The Uruguayans agreed to supply part of the shipment after
the Taiwan committee threatened last week to cancel the order,
but they postponed delivery to July 1-20 from the original June
5-25, the committee spokesman said.
    Government sources in Montevideo confirmed that Uruguayan
grain exporting firms would ask Taiwan to reconsider prices on
the soybeans but said the government would not intervene in the
dispute.
    "The deal was agreed to between two private companies,
without any participation whatsoever from the Uruguayan
government," Uruguyan Agriculture Ministry spokesman Andres
Bonino said.
    He added, "Uruguay is not going to export 70,000 tonnes of
soybeans, since total production this year has been lower than
that figure."
    The contract called for the Uruguayans to deliver the
70,000 tonnes in two shipments between June 5 and August 10.
    Taiwan's ambassador in Montevideo, Henry Wang, told
reporters, "Both countries are finishing details to arrive at a
satisfactory price."
    He said the price would be "very advantageous (for Uruguay)
because it will be above the international price."
    Taiwan bought some 36,000 tonnes of soybean last year,
making it Uruguay's biggest customer for the oilseed.
    Taiwan's joint committee holds a tender today for two
shipments of U.S. Soybeans totalling 87,000 tonnes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22023" NEWID="18428">
<DATE>16-JUN-1987 00:38:08.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0033&#31;reute
u f BC-SUMMIT-DEEPENS-IMF-CO   06-16 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMMIT DEEPENS IMF COORDINATION ROLE,OFFICIAL SAYS</TITLE>
<AUTHOR>    By Alver Carlson, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, June 15 - </DATELINE><BODY>The Venice summit accord gives the
International Monetary Fund (IMF) increased responsibility in
smoothing vital economic cooperation between industrial
countries, a senior IMF official said.
    The official, who met reporters but asked not to be
identified, made clear that the use of a series of economic
measurements to monitor the seven leading industrial
democracies would be difficult but was a major step in
cooperation.
    The United States, Japan, West Germany, France, Britain,
Italy and Canada agreed at the summit to use a series of
economic indicators to forecast economic behaviour in an
attempt to increase cooperation on economic policy.
    The setting of a formal process of review, while seen as a
step forward in the cooperative effort, was also criticised
because it lacked teeth to force a country to change economic
behaviour that hurt other countries.
    But the official said influences and peer pressure could
have a major impact in reforming an erring country.
    Economists generally believe a cooperative economic
approach by the largest countries will have a salutory impact
on the global economy, including helping the poorest debtor
countries.
    The official said the IMF function would be to warn
countries when their economic behaviour was straying badly and
try to persuade them to modify it. "I hope it will be a yellow
light, not a red flag," he said.
    He also said he hoped negotiations would begin in the next
few weeks to increase the IMF's structural adjustment facility,
which helps 62 of the world's poorest countries.
    The facility, approved about 15 months ago, is currently
financed at about 3.8 billion dlrs, but this would be tripled
under the plan.
    He said reaching an accord on the agreement would be very
difficult, with countries pressing each other to do more and
finding reasons to reduce their own exposure. "They will be
tremendously difficult negotiations," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22013" NEWID="18429">
<DATE>16-JUN-1987 01:01:57.52</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0054&#31;reute
u f BC-TAIWAN-RAISES-SUGAR-O   06-16 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN RAISES SUGAR OUTPUT TARGET FOR 1987/88</TITLE>
<DATELINE>    TAIPEI, June 16 - </DATELINE><BODY>Taiwan's target for sugar production in
the 1987/88 season (November/May) has been set at 600,000
tonnes, up from the 479,200 tonnes harvested in 1986/87, a
spokesman for the state-owned Taiwan Sugar Corp told Reuters.
    He said the increase was to meet rising local consumption,
estimated at about 500,000 tonnes in calendar 1988 against
470,000 tonnes in 1987. Taiwan would have a surplus for export
of about 100,000 tonnes in 1988, he said.
    In 1987 Taiwan would have no exportable sugar for the first
time in 40 years because of typhoon damage to more than 6,000
hectares of canefield in 1986, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21984" NEWID="18430">
<DATE>16-JUN-1987 01:34:28.89</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M C
&#22;&#22;&#1;f0075&#31;reute
u f BC-MIM-RAISES-COPPER-PRI   06-16 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>MIM RAISES COPPER PRICES BY 20 DOLLARS</TITLE>
<DATELINE>    BRISBANE, June 16 - </DATELINE><BODY>Mount Isa Mines Ltd &lt;MIMA.S> said it
raised its copper prices by 20 dlrs to 2,220 dlrs per tonne for
cathodes and to 2,387.50 dlrs per tonne for standard rods,
effective June 17.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21999" NEWID="18431">
<DATE>16-JUN-1987 02:12:37.00</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>japan</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0098&#31;reute
u f BC-JAPAN-BUYS-50,000-TON   06-16 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BUYS 50,000 TONNES OF CANADIAN RAPESEED</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Japanese crushers have so far bought
50,000 tonnes of Canadian rapeseed for shipment in late
July/August and total purchases for the period are likely to be
around 130,000 tonnes, trade sources said.
    Crushers reduced their Canadian purchases for late June and
July to 111,000 from 120,000 tonnes due to seasonal maintenance
work at oil mills.
    But estimated crushers' buying for July/August was slightly
above monthly average and is likely to keep to this level for a
while due to a better crushing margin compared with that of
soybeans, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22141" NEWID="18432">
<DATE>16-JUN-1987 02:25:25.63</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0106&#31;reute
u f BC-SOUTH-KOREAN-1986-ENE   06-16 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH KOREAN 1986 ENERGY USE RISES NINE PCT</TITLE>
<DATELINE>    SEOUL, June 16 - </DATELINE><BODY>South Korea's energy consumption rose nine
pct to 61.07 mln tonnes of oil equivalent (toe) in 1986 from
56.0 mln in 1985, energy ministry officials told Reuters.
    They said oil accounted for 46.7 pct of energy consumption
in 1986 against 48.5 pct in 1985. Anthracite accounted for 21.0
pct against 21.5 pct, bituminous coal 16.5 pct against 17.3 pct
and nuclear power 11.6 pct against 7.5 pct.
    The amount spent on energy imports in 1986 was 4.53 billion
dlrs against 6.54 billion dlrs in 1985, they said, with much of
the difference between the two years due to changes in the
price of oil.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22149" NEWID="18433">
<DATE>16-JUN-1987 03:59:45.40</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0213&#31;reute
b f BC-JAPAN-GNP-RISES-1.2-P   06-16 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN GNP RISES 1.2 PCT IN JANUARY/MARCH</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Japan's gross national product (gnp) rose
a real 1.2 pct in the January/March quarter after a downwardly
revised 0.7 pct increase in the previous three months, the
Economic Planning Agency said.
    The October/December rise was originally put at 0.8 pct.
    For the fiscal year ended last March 31, gnp rose 2.6 pct,
after a 4.3 pct increase in 1985/86. Last year's performance
was the worst since 1974/75, when gnp contracted by 0.4 pct,
and was below the government's revised three pct forecast.
    Economists said the strong yen was largely to blame for the
slowdown in economic growth in 1986/87.
    Domestic demand increased 0.7 pct in the January/March
quarter and 4.3 pct in the fiscal year, compared with growth of
0.6 pct in October/December and 3.7 pct in 1985/86.
    The annualized growth rate in the January/March quarter
accelerated to 4.9 pct, from 2.9 pct in October/December.
    In nominal terms, gnp rose 0.7 pct in January/March, after
a 0.5 pct October/December rise, reflecting lower prices.
    Domestic demand contributed 0.7 percentage point to real
gnp growth in January/March, while foreign trade added 0.5
point. In October/December domestic demand contributed 0.6
point, while foreign trade added 0.2 point.
    Of the 0.5 point contribution of foreign trade to gnp last
quarter, rising exports accounted for 0.3 point and falling
imports contributed 0.2.
    Total export volume rose 2.0 pct quarter-on-quarter in
January/March, while imports fell 1.2 pct.
    Of the 0.7 point contribution of domestic demand to
January/March gnp growth, the private sector accounted for 1.1
point while the public sector knocked off 0.4.
    The private sector contribution included 0.4 point for
corporate capital outlays and 1.0 for consumer spending, while
destocking subtracted 0.3 point.
    In 1986/87, domestic demand contributed 4.1 percentage
points to growth while foreign trade knocked off 1.5 points.
    In 1985/86, the domestic demand contribution was 3.6 points
and foreign trade 0.7 point.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22150" NEWID="18434">
<DATE>16-JUN-1987 04:08:44.59</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;f0225&#31;reute
b f BC-CREDIT-INDUSTRIEL-LAU   06-16 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>CREDIT INDUSTRIEL LAUNCHES MARK FLOATING RATE NOTE</TITLE>
<DATELINE>    FRANKFURT, June 16 - </DATELINE><BODY>Compagnie Financiere de Credit
Industriel et Commercial is raising 255 mln marks through a
six-year floating rate note (FRN) carrying a coupon of 1/8
point over six-month London Interbank Offered Rate (LIBOR) and
priced at 100.05, lead manager Morgan Stanley GmbH said.
    The bullet bond will be sold in denominations 10,000 and
250,000 marks and listed in Frankfurt. It matures on March 20,
1993. Payment date will be July 20, 1987.
    Fees total 15 basis points with five for selling and 10 for
management and underwriting combined. The bond is the first
lead-managed by Morgan Stanley in the mark sector.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22151" NEWID="18435">
<DATE>16-JUN-1987 04:09:31.20</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;f0227&#31;reute
u f BC-DOWTY-TO-BUY-BOEING-U   06-16 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>DOWTY TO BUY BOEING UNIT FOR 42.5 MLN DLRS</TITLE>
<DATELINE>    LONDON, June 16 - </DATELINE><BODY>Dowty Group Plc &lt;DWTY.L> said it agreed
to buy &lt;Hydraulic Units Inc> from Boeing Co &lt;BA.N> for around
42.5 mln dlrs cash.
    The final sum payable would be adjusted according to
changes in net tangible assets between March 29 and completion,
due on July 1. Payment would be financed through medium-term
borrowings.
    Hydraulic reported 4.3 mln dlrs pretax profit in the year
to end-December 1986 on sales of 53.2 mln. It designs,
manufactures and sells hydraulic and mechanical systems to
airframe manufacturers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22017" NEWID="18436">
<DATE>16-JUN-1987 04:11:07.38</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>taiwan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0230&#31;reute
u f BC-TAIWAN-MISSION-TO-BUY   06-16 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN MISSION TO BUY 410,000 BALES U.S. COTTON</TITLE>
<DATELINE>   TAIPEI, June 16 - </DATELINE><BODY>A Taiwan mission plans to buy 410,000
bales (500 lbs/bale) of U.S. Cotton worth about 110 mln U.S.
Dlrs when it visits several U.S. States early next month, a
spokesman for the Taiwan Spinners Association told Reuters.
    He said a similar mission last year bought 700,000 bales
worth 77 mln dlrs.
    He said the mission was buying less U.S. Cotton because the
price is some 15 pct higher than that of cotton from Pakistan
and India. The current average price of U.S. Cotton is 75
cents/lb, but the spokesman estimated the average price will be
53 cents when the shipments are made next year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22152" NEWID="18437">
<DATE>16-JUN-1987 04:20:57.47</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0244&#31;reute
b f BC-JAPAN-MAY-MONEY-SUPPL   06-16 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN MAY MONEY SUPPLY UP 10.2 PCT</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Japan's broadly defined money supply
average of M-2 plus certificates of deposit (CD) jumped a
preliminary 10.2 pct in May from a year earlier, the Bank of
Japan said.
    The increase is the largest year-on-year rise since March
1982 when the money supply gained 10.5 pct.
    The money supply had increased 9.8 pct in April.
    The seasonally adjusted average in May rose 1.0 pct from
the previous month.
    Unadjusted M-2 plus CDs were an average 347,200 billion yen
in May against 345,500 billion in April.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22153" NEWID="18438">
<DATE>16-JUN-1987 04:25:25.07</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;f0249&#31;reute
u f BC-VALIN-POLLIN-BUYS-U.S   06-16 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>VALIN POLLIN BUYS U.S. CARTER ORGANISATION</TITLE>
<DATELINE>    LONDON, June 16 - </DATELINE><BODY>U.K. Public relations group Valin Pollin
International Plc said it had conditionally agreed to buy the
New York-based Carter Organisation Inc for up to 114.6 mln
dlrs.
    Initial payment will be 51.0 mln dlrs with further payments
based on pretax profits over the three years to end-September
1990.
    Carter is an investor relations, consultancy and proxy
solicitation firm.
    The first payment would be through the issue to the vendor,
Chairman Donald Carter, of new Valin Pollin ordinary shares.
    A total of 50 mln dlrs of these have been underwritten and
the remainder will be retained by Carter.
    In the year to end-1986 Carter made 16.0 mln dlrs on
turnover of 35.41 mln on a pro forma basis after deducting the
Chairman's salary at the rate agreed for after the group is
acquired.
    Carter has more than 300 clients, with the largest 20
acocunting for about 45 pct of total turnover.
     Valin Pollin said it also proposed to issue new ordinary
shares, some of which will be issued for cash, to finance
certain expenses of the deal as well as the final payment of
3.13 mln guilders for its Dutch unit, Valin Pollin Thomas and
Kleyn BV.
    Dealings in the company's shares were suspended ahead of
the announcement at 290p, and it said it expected trading to
restart around the end of July.
 REUTER



&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22154" NEWID="18439">
<DATE> 16-JUN-1987 04:42:20.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0274&#31;reute
u f BC-CHINA-GIVES-FINAL-198   06-16 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA GIVES FINAL 1986 BUDGET DEFICIT</TITLE>
<DATELINE>    PEKING, June 16 - </DATELINE><BODY>China's final 1986 budget deficit was
7.05 billion yuan, down from 7.05 billion given in the March
budget speech and against a surplus of 2.1 billion in 1985,
Tian Yinong, Vice Minister of Finance, said.
    The New China News Agency quoted Tian as putting total 1986
state income at 226.03 billion yuan, up from 186.6 billion in
1985, and 1986 spending at 233.08 billion, up from 184.5
billion.
    He blamed the 1986 deficit on excess demand, a rapid
increase in consumption funds and capital investment and losses
by state firms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22155" NEWID="18440">
<DATE>16-JUN-1987 04:48:02.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>north-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0281&#31;reute
u f BC-JAPAN-TRUCK-MAKERS-TO   06-16 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TRUCK MAKERS TO CURB EXPORTS TO NORTH KOREA</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>All four Japanese makers of large trucks
will stop exports to North Korea following the issue of
Japanese government guidance, company spokesmen told Reuters.
    The move responds to the U.S. Government's expression of
concern that North Korea was using Japanese-made trucks as
missile launching pads, they said.
    &lt;Nissan Diesel Motor Co Ltd> shipped 156 vehicles including
large and mid-sized trucks and buses to North Korea in 1986
while Isuzu Motors Ltd &lt;ISUM.T> exported more than 100 six to
eight-tonne trucks in 1986, company spokesmen said.
    A spokesman for Mitsubishi Motors Corp &lt;MIMT.T> said it had
almost no trade with North Korea last year.
    &lt;Hino Motors Ltd> shipped 28 five-tonne trucks in 1986, a
company spokesman said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22156" NEWID="18441">
<DATE>16-JUN-1987 05:14:11.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0316&#31;reute
u f BC-DUTCH-RETAILER-VENDEX   06-16 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH RETAILER VENDEX DELAYS FLOTATION UNTIL 1990</TITLE>
<DATELINE>    AMSTERDAM, June 16 - </DATELINE><BODY>Dutch retail and services group Vendex
International &lt;VENN.AS> has delayed its flotation from 1988 to
1990, chairman and major shareholder Anton Dreesmann said in an
interview with a Dutch financial daily.
    "We don't need a flotation yet," he told the Financieele
Dagblad, noting he wanted net profit to rise to 400 mln
guilders from last year's 302 mln before moving to the bourse.
    Dreesmann added the flotation might be speeded up if the
company should need a substantial amount of capital for an
attractive major takeover, but he had no prospects yet. Vendex
plans to pay at least 30 pct of profits in dividends.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22157" NEWID="18442">
<DATE>16-JUN-1987 05:17:24.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0322&#31;reute
u f BC-SHULTZ-SEES-GOLDEN-FU   06-16 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SHULTZ SEES GOLDEN FUTURE FOR PHILIPPINES</TITLE>
<DATELINE>    MANILA, June 16 - </DATELINE><BODY>U.S. Secretary of State George Shultz
forecast a golden future for the Philippines after talks on its
struggle for economic recovery and its fight against communist
insurgents.
    Speaking at a luncheon after an hour-long meeting with
President Corazon Aquino, Shultz delivered a powerful and
uncompromising endorsement of the Manila government.
    "There is a golden future out there for the Filipino people
to gain," he said. But he tempered his praise with a veiled hint
Washington's attitude might change if what it called the
current realism was seen to be diluted.
    "The political dreams of only 18 months ago are becoming the
democratic institutions of today," Shultz said. "Your economy is
developing an impressive head of steam, the insurgents are
learning that threats and intimidation will not stop the
Filipino people from voting for democracry."
    He said he had been struck by the widespread awareness of
the problems facing the Philippines.
    "No one I have met under-estimates the tasks which lie ahead
or the need to act upon them. That Filipino realism is an
essential element of American confidence in the Philippines," he
said.
    Shultz said the revolution which brought Aquino to power 18
months ago was still under way.
    He praised the efforts made by the armed forces in
combatting the communist insurgency, now in its 18th year,
adding that Aquino was also addressing the social and economic
problems fuelling the rebellion.
    Defence Minister Rafael Ileto, briefing reporters after a
separate meeting with Shultz, said the U.S. Was just as
confident as he was that the communists would be beaten.
    U.S. Officials made it clear before the start of today's
talks that they expected no dramatic developments.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21975" NEWID="18443">
<DATE>16-JUN-1987 05:37:38.66</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>singapore</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>asean</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0363&#31;reute
u f BC-ASEAN-SEES-CLOSER-ECO   06-16 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>ASEAN SEES CLOSER ECONOMIC TIES WITH JAPAN</TITLE>
<DATELINE>    SINGAPORE, June 16 - </DATELINE><BODY>Foreign Ministers of the Association
of South-east Asian Nations (ASEAN) said they expect closer
economic ties with Japan.
    A communique issued at the end of a two-day ministerial
meeting said Asean hoped for greater Japanese investment in the
region, better access for Asean products in the Japanese market
and larger numbers of visiting Japanese tourists.
    The ministers are due to start four days of talks tomorrow
with officials of the U.S., Japan, the European Community, New
Zealand, Australia and Canada, including Secretary of State
George Shultz and Japan's Foreign Minister Tadashi Kuranari.
    The Asean communique noted Japan's large trade surplus,
which it said would enable Tokyo to play a greater role in the
economic development of ASEAN and in facilitating closer ASEAN
economic cooperation.
    "Japan could also help to facilitate the flow of Japanese
investments to ASEAN through the provision of attractive
financial assistance and incentives for its private sector," it
said.
    The communique also welcomed President Reagan's firm action
in vetoing trade protectionist measures in the Congress.
     The communique said the ASEAN ministers were concerned
over the proliferation of protectionist policies, pressures and
measures in developed countries, the continued depressed level
of commodity prices, the instability of exchange rates and the
lack of a comprehensive solution to the world debt situation.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22029" NEWID="18444">
<DATE>16-JUN-1987 05:57:04.96</DATE>
<TOPICS><D>fuel</D><D>ship</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0398&#31;reute
u f BC-MITSUBISHI-HEAVY-BUIL   06-16 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>MITSUBISHI HEAVY BUILDS ENERGY-SAVING TANKER</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Mitsubishi Heavy Industries Ltd &lt;MITH.T>
said it began building the world's most advanced energy-saving
tanker, which consumes only 48 tonnes of fuel oil a day.
    Construction of the 258,000 dwt VLCC (very large crude
carrier) Nisseki Maru for &lt;Tokyo Tanker Co Ltd>, a shipping arm
of Nippon Oil Co Ltd &lt;NPOL.T>, is expected to be completed in
April 1988. It would run on the Japan/Gulf route, a company
statement said.
    The statement gave no other details.
    Mitsubishi Heavy last year finished building a vlcc of
similar size, but which consumed 57 tonnes of fuel a day.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22158" NEWID="18445">
<DATE>16-JUN-1987 05:59:55.47</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0404&#31;reute
u f BC-BANK-OF-JAPAN-MAY-EXP   06-16 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN MAY EXPAND BROKER CALL MARKET</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>The Bank of Japan is considering expanding
the 60 billion yen daily limit on each securities firm's
outstanding transactions in the yen call market at the request
of the securities industry, Bank of Japan sources said.
    But before doing this, the Bank is waiting to see the
effect on brokers' fund raising of the change, effective in
August, to a shorter settlement period for cash bond
transactions, the sources said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22159" NEWID="18446">
<DATE>16-JUN-1987 06:00:48.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0405&#31;reute
b f BC-PASCO-CORP-ISSUES-85   06-16 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>PASCO CORP ISSUES 85 MLN DLR EQUITY WARRANT BOND</TITLE>
<DATELINE>    LONDON, June 16 - </DATELINE><BODY>Pasco Corp is issuing an 85 mln dlr
equity warrant eurobond due July 9, 1992 with an indicated
coupon of 1-5/8 pct and par pricing, lead manager Nomura
International Ltd said.
    The issue is guaranteed by Mitsubishi Bank Ltd and final
terms will be set on June 23. The selling concession is 1-1/2
pct while management and underwriting combined pay 3/4 pct.
    The issue is available in denominations of 5,000 dlrs and
will be listed in Luxembourg.
    Payment date is July 9 and the warrants are exercisable
from July 20, 1987 until June 16, 1992.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22160" NEWID="18447">
<DATE>16-JUN-1987 06:03:08.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0411&#31;reute
u f BC-AFRICA-UNABLE-TO-PAY   06-16 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AFRICA UNABLE TO PAY ITS DEBTS, OAU CHIEF SAYS</TITLE>
<DATELINE>    ABUJA, Nigeria, June 16 - </DATELINE><BODY>Organisation of African Unity
Chairman Denis Sassou-Nguesso said Africa was unable to pay its
debts due to falling export prices.
    "Even if African countries want to pay their debts they will
not be able to," Congolese president Sassou-Nguesso told a news
conference at a meeting between foreign and African experts on
the continent's economic prospects.
    "You cannot be expected to do the impossible. All our
commodity exports, without exception and even oil, have fallen
in value on international markets," he added.
    "In these conditions can African countries continue to
respect their debt servicing?" Sassou-Nguesso asked.
    He said the debt issue would be the main subject at next
month's OAU summit in Addis Ababa and would not rule out the
possibility of a joint "debtors' revolt" there.
    "Let us wait and see," he replied when asked about the
possibility.
    Debts of sub-Saharan African countries total less than 100
billion dlrs, according to the Economic Commission for Africa
which is organising the current meeting in Nigeria's future
capital.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22115" NEWID="18448">
<DATE>16-JUN-1987 06:04:20.07</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0417&#31;reute
u f BC-OPEC-OFFICIAL-SAYS-CA   06-16 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>OPEC OFFICIAL SAYS CARTEL HAS REGAINED LEADERSHIP</TITLE>
<DATELINE>    CARACAS, June 16 - </DATELINE><BODY>OPEC has regained its former role as
price-setter in the oil market following last year's price war,
acting OPEC Secretary General Fadhil al-Chalabi said.
    But he said he expects no short-term rise in demand for
OPEC oil, adding that market stability will mean a continued
sacrifice for the 13 OPEC member countries.
    Al-Chalabi, speaking at a university here yesterday, said
the December 1986 conference at which OPEC set an 18 dlr per
barrel reference price gave the market a signal that the
producers' group was serious.
    "It (OPEC) has no choice but to defend the price and this
has restored its credibility," said al-Chalabi, who is in
Caracas for a meeting of the OPEC Fund Board of Governors.
    Al-Chalabi said OPEC members have not exceeded the
production quotas which took effect on February 1 and spot
market prices are now near or above official OPEC prices.
    Before the December conference OPEC faced a major and basic
dilemma which led to the loss of its leadership role, he said.
"The question was, what should OPEC do? Defend the price and
risk losing its market share? Or defend its market share and
let the price drop?" he asked.
    "OPEC has chosen to stabilise the price. But the question is
how long will it be willing to keep up this painful exercise?" 
he said.
    Al-Chalabi said that despite OPEC's success in shoring up
prices and achieving discipline regarding quotas, he saw no
quick end to restraint in production.
    He also said he foresaw no increase in demand for OPEC oil
because increased non-OPEC production, combined with
conservation and the use of alternative energy sources, has
caused changes in the market which will not easily be reversed.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21974" NEWID="18449">
<DATE>16-JUN-1987 06:05:28.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>mise</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0419&#31;reute
u f BC-ITALIAN-ELECTION-RESU   06-16 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN ELECTION RESULTS BOOST SHARE PRICES</TITLE>
<AUTHOR>    By Daniel Liefgreen, Reuter</AUTHOR>
<DATELINE>    Milan, June 16 - </DATELINE><BODY>Share prices opened sharply higher,
boosted by Italian general election results which dealt a big
blow to the Communist party and bolstered the Christian
Democrats and Socialists.
    The Milan Stock Index was indicated 2.90 pct higher at 0930
GMT as all sectors were stronger. Among stocks posting early
gains at mid morning was Fiat ordinary, which was indicated
13,090 lire against yesterday's closing of 12,705. These are
provisional, not closing prices.
    Analysts said the results from Sunday's and Monday's voting
should boost the bourse in the short-term, but the market's
medium-term prospects remain clouded because of doubt over how
long it will take to form a new government.
    "The result is positive in the sense that the Communists
suffered a defeat and Italians voted for stability," director
Paolo Azzoni at Milan investment bank &lt;ABK Spa>, told Reuters.
    Uncertainty about the election outcome and the possibility
of large Communist gains has been weighing on the bourse in the
last two weeks, brokers said.
    Final returns show the Socialists, led by former Prime
Minister Bettino Craxi, increasing their vote to 14.3 pct from
11.4 in 1983, while the Communists dropped more than three
points to 26.6 pct.
    Support for the Christian Democrats rose to 34.3 pct from
an all-time low of 32.9 in 1983.
    Carlo De Benedetti, chairman of Ing C. Olivetti EC Spa
&lt;OLIV.MI>, commenting on the results last night on Italian
television, said "I am sure the reaction of international
markets will be extremely favourable to the electoral verdict."
    Broker Francesco Dinepi at Milan investment firm &lt;Sige
Spa>, said some U.K. Institutional investors had placed buy
orders in Milan this morning.
    "In the medium-term, the direction of the market depends on
the Christian Democrats and Socialists resolving their
differences," said Dinepi.
     "What Italy wants is another government and quickly," added
Azzoni.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22161" NEWID="18450">
<DATE>16-JUN-1987 06:10:47.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0425&#31;reute
b f BC-TOYOTA-LIKELY-TO-ISSU   06-16 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>TOYOTA LIKELY TO ISSUE 800 MLN DLR WARRANT BOND</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Toyota Motor Corp &lt;TOYO.T> is likely to
raise 800 mln dlrs through a Eurodollar bond with warrants in
mid-July, underwriting sources said.
    A final official decision on the issue has yet to be made
and detailed terms will be announced later, they added.
    The funds are likely to be used for investments to increase
productivity both domestically and abroad, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22162" NEWID="18451">
<DATE>16-JUN-1987 06:13:18.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0428&#31;reute
b f BC-OLYMPIC-CO-ISSUES-50   06-16 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>OLYMPIC CO ISSUES 50 MLN SWISS FRANC WARRANT NOTES</TITLE>
<DATELINE>    ZURICH, June 16 - </DATELINE><BODY>Olympic Co Ltd of Tokyo is issuing 50 mln
Swiss francs of five year notes with an indicated one pct
coupon, lead manager Morgan Stanley said.
    The issue is guaranteed by Mitsubishi Trust and Banking
Corp.
    Terms will be fixed on June 22 with payment due July 9. The
warrant exercise period is from August 3, 1987 until June 30,
1992.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22163" NEWID="18452">
<DATE>16-JUN-1987 06:14:28.36</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;f0431&#31;reute
b f BC-BUNDESBANK-MAY-LIFT-V   06-16 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK MAY LIFT VETO ON ECU USE - SOURCES</TITLE>
<DATELINE>    FRANKFURT, June 16 - </DATELINE><BODY>The Bundesbank could announce today
that it will lift its veto on the private holding of European
Currency Unit (ECU) liabilities, banking sources said.
    But this would probably be the only significant news from
today's council session, brought forward from its usual
Thursday date because of the Corpus Christi holiday here. The
Bundesbank is not expected to change credit policy.
    The sources said Bundesbank officials had been working out
technical and legal problems with the ECU since the subject was
discussed in the presence of federal finance minister Gerhard
Stoltenberg on May 7.
    With the primary internal work on the ECU completed,
approval from the 18-member central bank council was now
virtually a mere formality, the sources said.
    Bundesbank president Karl Otto Poehl, chairing today's
meeting, said in mid-May the remaining ECU restrictions were
likely to be lifted, allowing individuals to open ECU accounts
and incur liabilities previously mainly executed through the
Luxembourg subsidiaries of the major German banks.
    The sources said the ECU liberalisation was mainly designed
to show that West Germany was prepared to play its part in the
effort to attain European Community monetary unity by 1992.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22164" NEWID="18453">
<DATE>16-JUN-1987 06:31:50.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0458&#31;reute
b f BC-EC-ISSUES-500-MLN-FRE   06-16 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>EC ISSUES 500 MLN FRENCH FRANC 10 YEAR BOND</TITLE>
<DATELINE>    PARIS, June 16 - </DATELINE><BODY>The European Community is launching a 500
mln franc, 10-year bond fungible with its 600 mln franc 8-3/4
pct, April 7, 1997 issue, lead manager Banque Indosuez said.
Co-lead manager is Bank of Tokyo International.
    The issue price of the new tranche is 96-5/8 pct. Fees are
two pct, with 1-3/8 pct for selling and 5/8 pct for management
and underwriting combined including a 1/8 pct praecipuum.
    Payment date of the non-callable issue is July 7, plus
accrued interest.
    Denominations are 10,000 and 50,000 francs and listing is
in Luxembourg and Paris.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22068" NEWID="18454">
<DATE>16-JUN-1987 06:32:48.72</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0460&#31;reute
u f BC-SWEDISH-INDUSTRIAL-PR   06-16 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDISH INDUSTRIAL PRODUCTION RISES IN APRIL</TITLE>
<DATELINE>    STOCKHOLM, June 16 - </DATELINE><BODY>Swedish industrial production rose 1.5
pct in April after a 2.2 pct fall in March and a rise of 3.8
pct in April 1986, according to preliminary figures from the
Central Bureau of Statistics.
    The bureau said the April rise occurred in most of the
sector, with the greatest advances in the paper products and
chemicals industries.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22165" NEWID="18455">
<DATE>16-JUN-1987 06:36:51.01</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0465&#31;reute
u f BC-JAPAN-OFFICIALS-SAY-W   06-16 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN OFFICIALS SAY WORST MAY BE OVER FOR ECONOMY</TITLE>
<AUTHOR>    By Kunio Inoue, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Government officials said the worst may be
over for the Japanese economy, after today's news of stronger
than expected growth in the January/March period.
    But private economists were not so sure and said the
economy was unlikely to achieve the government's 3.5 pct growth
forecast in the current fiscal year ending next March.
    As already reported, GNP rose 1.2 pct in the January/March
quarter, after a revised 0.7 pct increase in the previous three
months. For the fiscal year that ended last March 31, GNP
growth slowed to 2.6 pct from 4.3 pct in 1985/86.
    The government economists acknowledged that the improved
export performance in the January/March quarter was unlikely to
be repeated. The volume of exports during the period was up two
pct from the previous three months.
    The yen's rise in April to about 140 to the dollar from 150
probably resulted in a fall in exports in the April/June
quarter, they said.
    However, given the yen's recent stability, stepped-up
domestic demand should work as a driving force to push the
economy onto a path of sustainable growth, they said.
    Many private economists, though, doubt that the economy
will achieve the government's 3.5 pct growth forecast for the
1987/88 year.
    Growth in 1986/87 also fell short of the government's
forecast, which was revised downwards to three pct last
December from an original four pct.
    Domestic demand as a whole is not strong enough, except for
housing, said Johsen Takahashi, chief economist at Mitsubishi
Research Institute.
    Consumer spending is likely to remain weak as the growth in
nominal income stays low, he added.
     The rise in consumer spending in the January-March quarter
was simply a reflection of the contraction that occurred in the
preceding three months, Takahashi said.
    Private capital spending in the quarter looked strong but
this was primarily because utility companies brought forward
their 1987/88 capital investment plans into the final quarter
of 1986/87 in line with the government's economic stimulation
package announced last fall, he said.
    Dai-Ichi Kangyo Bank chief economist Kosaku Furuta said he
was unable to say the economy has bottomed out, but added he
expects increasing signs of recovery in the coming months.
    Destocking is coming to an end and companies are starting
to rebuild inventories, Furuta said.
    Housing is expected to remain buoyant, backed up by lower
interest rates as well as government policies to stimulate the
sector, he said. The government's recently unveiled 6,000
billion yen economic package will also help the economy.
    But he said that the economy was unlikely to achieve the
government's 3.5 pct forecast for 1987/88, although growth
might come close to three pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22049" NEWID="18456">
<DATE>16-JUN-1987 06:41:16.49</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0478&#31;reute
u f BC-GERMAN-STEEL-INDUSTRY   06-16 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN STEEL INDUSTRY SEEKS LAY-OFF FUNDS</TITLE>
<DATELINE>    BONN, June 16 - </DATELINE><BODY>The West German government today considered
demands for nearly 850 mln marks to lay off or retrain 20,000
steel workers.
    Government spokesman Friedhelm Ost said Chancellor Helmut
Kohl reviewed a joint proposal by steel employers and trade
unions at a special meeting with steel industry
representatives.
    Companies like Fried Krupp &lt;KRPG.D> and Hoesch Werke AG
&lt;HWKG.F>, which saw profits plunge last year, have taken the
unusual step of aligning with the metalworkers' trade union, IG
Metall, to press for government finance to slim staff levels
still further.
    Government officials said Bonn was prepared to take part in
a common effort to find a solution for the steelworkers. But
since the government was struggling to finance tax cuts by
reducing state subsidies, it could not pay for all the layoffs.
    A spokesman for IG Metall said the joint proposal foresaw
redundancy payments to 10,000 workers in Ruhr and Rhineland
plants. Some 6,000 workers would be redeployed in non-steel
making sectors of steel companies, while a further 4,000 would
be eligible for job-retraining schemes. Redundancies are
estimated at 600 mln marks, while job retraining would cost a
further 240 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21985" NEWID="18457">
<DATE>16-JUN-1987 06:46:32.22</DATE>
<TOPICS><D>zinc</D><D>lead</D><D>copper</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0488&#31;reute
u f BC-ZINC-CONCENTRATE-SUPP   06-16 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ZINC CONCENTRATE SUPPLY SHORTFALL SEEN IN 1988</TITLE>
<DATELINE>    AMSTERDAM, June 16 - </DATELINE><BODY>Next year is likely to see a shortfall
in zinc concentrates of up to 100,000 tonnes, although there
should be ample supply in 1987, Shearson Lehman Brothers Ltd
metals analyst Stephen Briggs said.
    Speaking on the second day of Metal Bulletin's base metals
conference, Briggs said the major factor in his predicted
100,000 tonne shortfall in zinc concentrate supply in 1988 was
the imminent cessation of new mining and termination of milling
at Pine Point in Canada.
    However, this could be partially offset by some stockpiles.
    Nevertheless, despite this predicted shortfall there was
unlikely to be any dramatic change in treatment charges in
1988. The picture for 1987, on the other hand, was one of
record production of zinc metal with fewer strikes anticipated
in Canada, some improvement in South America and new capacity
in South Korea.
    "Dramatic new record levels of concentrate output are also
expected in 1987," Briggs said.
    This would partly be due to a return to more normal levels
at existing mines in Australia and Peru, allied with
achievement of full capacity of 170,000 tonnes a year at Faro
in Canada.
    Looking further forward, the major event was the probable
opening in 1991 of the Red Dog mine in Alaska with a capacity
of 300,000 tonnes of concentrates a year.
    "Once this mine is fully on stream it is unlikely that there
will be a major shortage of concentrates in the early 1990s," he
added.
    The picture for lead was also closely allied to that of
zinc, with no new dedicated lead mines planned and therefore
supply of concentrates largely dependent on by-products from
zinc mines.
    "On this basis, our calculations point to a modest
oversupply of lead concentrates in 1987," Briggs said.
    The copper forecast, however, was for a record
non-Socialist output of 6.6 mln tonnes of concentrates in 1987,
increasing by a further 150,000 tonnes in 1988.
    Production of primary refined copper metal would also
increase, but not by as much as concentrate output, leading to
a moderate oversupply of concentrates of up to 150,000 tonnes
this year and with no shortages predicted for the rest of the
decade, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22035" NEWID="18458">
<DATE>16-JUN-1987 07:08:50.45</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0524&#31;reute
u f BC-ITALIAN-WHOLESALE-PRI   06-16 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN WHOLESALE PRICES UP 0.5 PCT IN APRIL</TITLE>
<DATELINE>    ROME, June 16 - </DATELINE><BODY>Italy's wholesale price index rose 0.5 pct
month-on-month in April, after increasing by 0.1 pct in March,
the national statistics institute Istat said.
    The index, base 1980 equals 100, registered 174.2 in April
compared with 173.3 in March.
    The April figure represents an increase of 1.6 pct compared
with the corresponding month of 1986, after a year-on-year rise
in March this year of 0.6 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22014" NEWID="18459">
<DATE>16-JUN-1987 07:24:57.91</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0540&#31;reute
u f BC-INDONESIA-SEEKS-TO-IN   06-16 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA SEEKS TO INCREASE SUGAR OUTPUT</TITLE>
<DATELINE>    JAKARTA, June 16 - </DATELINE><BODY>Indonesia will try to increase sugar
output in calendar 1988 to 2.4 mln tonnes from an expected 2.2
mln in 1987, Agriculture Minister Achmad Affandi said.
    He told reporters after meeting President Suharto the gains
will come from increasing average production to 10 tonnes per
hectare from the previous 6.2 tonnes.
    He said Indonesia is aiming to pass the United States to
become the world's fourth largest producer compared with its
current seventh position.
    Affandi said the increase would insure Indonesia's
self-sufficiency in the commodity and allow it to keep adequate
stocks.
    Indonesia said it produced 2.02 mln tonnes in 1986, but the
U.S. Embassy in its annual agriculture report said output was
1.8 mln tonnes. The U.S. Report forecast no change for 1987.
    Indonesia imported 162,000 tonnes of sugar late last year
and in early 1987 to boost low sugar stocks.
    The country has around 284,000 hectares of sugar cane
farms. The agriculture ministry estimates domestic consumption
at 2.03 mln tonnes in calendar 1987.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22030" NEWID="18460">
<DATE>16-JUN-1987 07:29:46.51</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T G
&#22;&#22;&#1;f0560&#31;reute
u f BC-JAPAN-HAS-NO-PLANS-TO   06-16 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN HAS NO PLANS TO LIBERALISE FARM MARKET</TITLE>
<DATELINE>    TOKYO, June 16 - </DATELINE><BODY>Japan has no plans to liberalise its farm
markets, but will try to narrow the gap between the price of
farm products at home and overseas, Agriculture Minister
Mutsuki Kato said.
    He told reporters the move is aimed at deflecting criticism
of Japanese protectionism on its agricultural goods.
    But Kato said he has no plans to start bilateral trade
talks with the United States over rice, Japan's staple food.
    Washington has called Tokyo's rice policy an extreme
example of protectionism and has demanded access for U.S.
Growers to the Japanese market. This is closed to imports
except in emergency.
    Kato said Japanese farmers should however "shed some blood,"
to relieve the dangerous state of international farm trade.
    His comments precede a meeting on July 1 and 2 of the Rice
Price Council at which the government advisory body will
discuss the 1987 crop producer rice price.
    Kato said he welcomed the outcome of last week's recent
summit of leaders of leading industrialised democracies in
Venice and of farm trade talks at the Organisation for Economic
Cooperation and Development (OECD) in May.
    Ministers at both conferences agreed on the long-term need
to cut subsidies worldwide, Kato said.
    Kato said that Japan is not the only country to protect
producers. He said the United States spends some 25.8 billion
dlrs a year to support producer prices and on its export
enhancement program and the EC 21.7 billion, while Japan spends
only 2.9 billion. He said that although Japan provides the
world's highest level of subsidies per acre, its subsidy per
farm family was several times lower than in the United States.
    Expressing concern about growing protectionist moves in
U.S. Congress, he said Japan should make efforts to prevent
farm trade issues between the two countries from becoming a
factor increasing protectionism in the United States.
    Japan and the United States are holding panel discussions
at the General Agreement on Tariffs and Trade over Japan's
import restrictions on 12 farm items.
    Bilateral talks on beef and citrus trade in the period from
next April are due to start this autumn.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22075" NEWID="18461">
<DATE>16-JUN-1987 07:41:37.77</DATE>
<TOPICS><D>money-fx</D><D>reserves</D><D>trade</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0586&#31;reute
u f BC-TAIWAN-PARLIAMENT-BAC   06-16 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN PARLIAMENT BACKS FREE CAPITAL OUTFLOWS</TITLE>
<AUTHOR>    By Andrew Browne, Reuters</AUTHOR>
<DATELINE>    TAIPEI, June 16 - </DATELINE><BODY>Parliament approved a proposal to drop
all controls on capital outflows, raising the prospect that
Taiwan's vast resevoir of foreign exchange will flow into the
world economy.
    A government spokesman said the new law would be
promulgated by President Chiang Ching-Kuo within 10 days and
financial authorities would then be empowered to lift controls
on currency outflows at any time.
    Tight restrictions on capital inflows introduced this year
will remain in place, the spokesman said.
    Central Bank Governor Chang Chi-Cheng has said the controls
will be lifted at the end of next month or early in August.
    The central bank and finance ministry proposed lifting
currency restrictions to help reduce Taiwan's foreign exchange
reserves, which stand at about 60 billion U.S. Dlrs and have
led to runaway growth in money supply.
    The reserves, the world's third largest after Japan and
West Germany, also draw attention to Taiwan's huge trade
surplus and the government fears they are making the island a
target for U.S. Trade protectionism.
    The surplus rose 34 pct to a record 7.32 billion U.S. Dlrs
in the first five months of this year and about 90 pct of it
was with the United States.
    Money supply rose a seasonally adjusted 51.9 pct in the
year to end-April, raising fears of higher inflation.
    Local bankers and economists say when the controls are
lifted, businessmen will be allowed to buy foreign currency and
invest it freely overseas. But they warn against expectations
of a sudden outflow of capital.
    "I don't think we're going to see a big bang," John Brinsden,
the Taiwan manager of Standard Chartered Bank told Reuters in a
recent interview.
    Bankers said that businessmen have been holding vast
quantities of foreign exchange overseas for many years and also
have been freely buying and exporting currency through a
flourishing black-market.
    "Obviously there will be an outflow of funds ... But I don't
think it's going to be much," said Danny Chan, director of
Fidelity Securities Investment Consulting Corp.
    Economists say the success of plans to encourage capital
outflow depend on whether the central bank can slow the rise of
the local currency.
    The Taiwan dollar has risen by about 23 pct against the
U.S. Dollar since September 1983, prompting an inflow of
speculative money. It rose by one Taiwan cent today to close at
31.08.
    The government spokesman said the new law does not empower
authorities to permanently lift capital controls, but any
proposal to reimpose them would need the approval of
parliament.
    Many economists believe that once the controls are lifted
it will be almost impossible to reimpose them.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21993" NEWID="18462">
<DATE>16-JUN-1987 07:54:39.94</DATE>
<TOPICS><D>zinc</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F M
&#22;&#22;&#1;f0619&#31;reute
u f BC-MAJOR-EUROPEAN-ZINC-S   06-16 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR EUROPEAN ZINC SMELTER MERGER SEEN BY 1990</TITLE>
<DATELINE>    AMSTERDAM, June 16 - </DATELINE><BODY>There should be at least one merger
between major European zinc smelters before the end of the
decade, Christian Bue, Executive Vice President (commercial) of
SMM Penarroya in France, said.
    Speaking on the second day of the Metal Bulletin base
metals conference, Bue said he expected the current talks
between five smelters including Penarroya to result in
integration between at least some of the companies before 1990.
    The five companies, SMM Penarroya, Outokumpu Oy, Preussag
Ag, Ste de la Vieille Montagne and Boliden Ore and Metals AB,
have 22 pct of the world market, Bue added.
    "We have no alternative than to integrate out businesses
into large trading blocs if we are to survive the cut-throat
price competition and the trend to forward integration from the
mining companies," Bue said.
    "It is by no means certain that all the five companies
involved in the talks will integrate together. It is quite
likely, and even preferable, that the European smelters form
two or three large integrated blocs.
    "In this way we will be better able to negotiate with our
concentrate suppliers on one side, and with the metal buyers on
the other," Bue added.
    In the past, production overcapacity and the intense
competition between the European zinc smelters has meant they
have not only been in a very weak negotiating position when
buying concentrates, but in an even weaker one when selling the
metal, Bue noted.
    Although the apparently easy solution is to simply shut
down excess capacity, the burden of this on individual
companies is far too heavy and no one can be expected to
volunteer, he added.
    Another possible but very risky solution is to invest
heavily in more modern and lower cost facilities, he said.
    "My answer to this suggestion is that individual companies
who do not invest will surely die, and those that do invest
might survive, but only might, " Bue said.
    "The only real option in my mind is integration,
rationalization and stabilization. We have no alternative, " he
added.
    Bue also said that the European smelters were completely
dissatisfied with the tradition of pricing concentrates and
metals in US dollars, and suggested moving either to a basket
of the world's major currencies or pricing in European currency
units (Ecus) to protect against exchange rate volatility.
    Bue's views on integration between European smelters were
met by general approval from the conference audience comprising
representatives from many of the world's major mining, smelting
and trading companies, although some of the mining
representatives were somewhat sceptical in view of their own
industry's move towards integration with smelters.
    However, some concentrate traders did express worry about
their own position if the metals industry does make the move to
large trading blocs.
    The currency basket suggestion cropped up constantly, but
few said they thought matters would change in the near future.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21973" NEWID="18463">
<DATE>16-JUN-1987 08:38:34.95</DATE>
<TOPICS><D>housing</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0768&#31;reute
b f BC-/U.S.-HOUSING-STARTS   06-16 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSING STARTS FELL 2.7 PCT IN MAY</TITLE>
<DATELINE>    WASHINGTON, June 16 - </DATELINE><BODY>U.S. housing starts fell 2.7 pct in
May to a seasonally adjusted annual rate of 1,620,000 units,
the Commerce Department said.
    In April, housing starts fell a revised 3.8 pct to
1,665,000 units. The department previously said they fell 2.9
pct.
    The rate at which permits were issued for future
construction fell in May by 7.6 pct to a seasonally adjusted
1,477,000 units after falling 7.0 pct to 1,598,000 units in
April.
    The department said May housing starts were at the lowest
annual rate since December 1984, when starts were at a
seasonally adjusted 1,612,000 units. The permits total was the
lowest for any month since March 1983, when 1,475,000 permits
were issued.
    Before seasonal adjustment, May housing starts fell to
159,600 units from 161,600 units in April.
    Permits before adjustment fell to 134,800 units in May from
157,000 in April.
    The department said single-family housing starts fell in
May by 7.6 pct to 1,129,000 units from 1,222,000 units in
April. The May decline followed a slight 0.9 pct rise in
single-family starts in April.
    Starts for multi-family units rose 10.8 pct in May to
491,000 units after declining in April by 14.6 pct to 443,000
units.
    Permits for single-family homes in May were down 5.0 pct to
a seasonally adjusted annual rate of 1,005,000 units from
1,058,000 units in April. The decline followed a 8.0 pct drop
in single-family permits in April.
    Permits for multi-family units fell in May by 12.6 pct to a
seasonally adjusted annual rate of 472,000 units from 540,000
units in April. The May decline came after a 5.1 pct drop in
the seasonally adjusted annual rate of permits for multi-family
units in April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22056" NEWID="18464">
<DATE>16-JUN-1987 08:57:50.28</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0815&#31;reute
b f BC-EC-COMMISSION-MODIFIE   06-16 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COMMISSION MODIFIES OILS TAX PLAN</TITLE>
<DATELINE>    LUXEMBOURG, June 16 - </DATELINE><BODY>The EC Commission has proposed a
modified plan for a tax on marine and vegetable oils and fats
in its revised 1987/88 farm price proposals, an official
document detailing the proposals shows.
    The document, made available to journalists, says the
commission proposes that the tax should start at levels
originally proposed for vegetable oils on October 1.
    However, the tax on marine oils and fats would be cut by 50
pct from originally envisaged levels, the document said.
    In addition, the Commission proposes that the level of the
tax, expected to start at 330 Ecus per tonne, could be reviewed
every three months rather than annually.
    Diplomatic sources said the change to the proposals for
fish oils appears to be an attempt to overcome objections to
the tax from Portugal and Spain, major fishing nations.
    Other countries opposing the tax include Britain, West
Germany and Denmark.
    The new proposals retain most of the Commission's original
plans in other sectors.
    However, they mark the Commission's recognition that it
cannot get proposals to reduce the period of intervention for
cereals, diplomats said.
    Instead the Commission proposes to cut the monthly
increments applied to cereals during the November to May period
when intervention is open to 2.7 Ecus a tonne for durum wheat
and two Ecus a tonne for other cereals.
    The document shows the Commission has also changed its
green currency proposals in the light of heavy opposition,
notably from West Germany.
    West German and Dutch positive monetary compensatory
amounts (MCAs) would be immediately cut by 0.5 points, with a
further one point cut at the beginning of the 1988/89 season.
    The Commission originally proposed a complete dismantling
of positive MCAs.
     For other countries, the Commission makes the following
proposals for dismantling negative MCAs
     Denmark and Benelux - reduction of around 1.5 points for
animal products and just over two points for crops.
     France and Ireland - proposals unchanged except for an
extra 1.5 point cut for beef.
     Italy - dismantling of all MCAs except those created since
January 12.
    Britain - five point cut for most products, 6.5 points for
beef.
    Greece, Spain and Portugal - for most products, dismantling
of seven, 14 and 5.5 points respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6217" NEWID="18465">
<DATE>18-JUN-1987 00:36:08.58</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2085&#31;reute
b f BC-CITIBANK-LOWERS-AUSTR   06-18 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>CITIBANK LOWERS AUSTRALIAN PRIME RATE TO 16 PCT</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>Citibank Ltd said it would lower its
Australian prime rate to 16 pct from 16.5, effective tomorrow.
    The new rate, if unmatched by other banks, will be the
lowest among Australian trading banks. Other primes range from
16.25 to 17.5 pct.
    Australian prime rates have now retreated from a recent
peak of 19 pct in October in line with declining money market
levels. Citibank said its reduction reflected the decline.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6218" NEWID="18466">
<DATE>18-JUN-1987 00:36:33.80</DATE>
<TOPICS><D>strategic-metal</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f2090&#31;reute
u f BC-CHINA-MOVES-TO-STABIL   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA MOVES TO STABILISE WORLD TUNGSTEN PRICES</TITLE>
<DATELINE>    PEKING, June 18 - </DATELINE><BODY>China is moving to stabilise world prices
of tungsten after fluctuating prices this year affected the
country's export earnings, the China Daily said.
    The paper quoted industry officials as saying they would
fix export prices on the basis of the world market, stop
smuggling and encourage producers to reduce exports.
    Current world prices range from 49 to 55 dlrs per tonne
unit, but China suffered heavy losses when the price slumped to
39 dlrs earlier this year, it said.
    Some 45 pct of world tungsten exports come from China, but
the country imports high-grade tungsten products.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6219" NEWID="18467">
<DATE>18-JUN-1987 00:54:39.86</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;f2102&#31;reute
u f BC-AUSTRALIA'S-ANSETT-TO   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA'S ANSETT TO TAKE 20 PCT OF AMERICA WEST</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>Australia's &lt;Ansett Airlines> will
exercise an option to acquire 20 pct of America West Airlines
Inc &lt;AWAL.O> for about 31.5 mln U.S. Dlrs, &lt;Ansett Transport
Industries Ltd> managing director Peter Abeles said.
    Exercise, involving the purchase of about three mln new
America West shares for 10.50 U.S. Dlrs each, was scheduled to
be finalised in July or August, he said in a statement.
    Abeles said Ansett would become the largest single
shareholder in what he said was the fastest growing airline in
the United States. America West is based in Phoenix, Arizona.
    Under the terms of the option agreement, Ansett would have
the right to maintain its 20 pct position in the event of
future stock sales, but could not go beyond 20 pct unless so
requested by America West, Abeles said.
    America West would retain the right of first refusal if
Ansett offered any of the shares for sale.
    In addition, Ansett would gain one board seat, he said.
    Ansett Transport Industries wholly owns Ansett Airlines,
one of Australia's two major domestic airlines, and is in turn
owned 50/50 by Abeles' international transport group TNT Ltd
&lt;TNTA.S> and Rupert Murdoch's News Corp Ltd &lt;NCPA.S>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6220" NEWID="18468">
<DATE>18-JUN-1987 01:09:05.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>keating</D><D>hawke</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f2110&#31;reute
u f BC-AUSTRALIAN-ELECTION-C   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN ELECTION CAMPAIGN FOCUSSES ON TAX CUTS</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>Treasurer Paul Keating said the
opposition's tax-cutting policy, a key issue in the run up to
the July 11 elections, was a miscalculation that would severely
damage the Australian economy.
    Opposition leader John Howard disputed Keating's
allegations. "Keating is engaged in a desperate, last ditch
panic attempt to deny long-suffering Australian taxpayers the
cuts to which they are entitled," he said.
    Keating said in a radio interview that errors in Howard's
plan, including "double counting," would increase the budget
deficit and could push interest rates above 20 pct.
    Keating said that Treasury officials who had studied
Howard's plans concluded that his proposed tax and spending
cuts would result in a nine billion dlr deficit and damage
international market confidence in Australia.
    In his mini-budget on May 13 Keating said the budget
deficit for the year ending June 1988 would be between two and
three billion dlrs.
    Howard has said a conservative government under his
leadership would reduce the 55 pct top personal and company tax
level to 38 pct and fund the reduction by cutting government
spending.
    Keating and Prime Minister Bob Hawke have promised not to
increase taxes or impose new ones, but rejected any tax cuts.
Instead they called for wage and other economic restraints to
help overcome balance of payments and foreign debt problems.
    Inflation declined to 9.4 pct for the year to March 31 from
an annual 9.8 pct at the end of the December quarter.
    Hawke has said inflation would fall to six pct by the
middle of next year.
    Australian bank lending rates to best customers have
dropped to around 16.5 pct from a high of 19 pct nine months
ago.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6221" NEWID="18469">
<DATE>18-JUN-1987 01:11:24.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f2114&#31;reute
u f BC-AIDES-URGE-S.-KOREA'S   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>AIDES URGE S. KOREA'S CHUN TO OPEN TALKS - RADIO</TITLE>
<DATELINE>    SEOUL, June 18 - </DATELINE><BODY>Aides to South Korea's President Chun Doo
Hwan are urging him to reopen talks on electoral reform to
defuse nationwide political turmoil, the state radio said.
    It said ruling party officials would tell Chun he should
consider reversing an April 13 decision to shelve the debate on
reform until after the 1988 Seoul Olympics.
    Ruling Democratic Justice Party executives met today to
draw up a proposed package of measures. These included resuming
talks, releasing political detainees and lifting the house
arrest of top dissident Kim Dae-jung, the radio said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6222" NEWID="18470">
<DATE>18-JUN-1987 01:22:27.51</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2118&#31;reute
u f BC-JAPAN-FOREIGN-SHIPBUI   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN FOREIGN SHIPBUILDING ORDERS FALL IN MAY</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>New foreign shipbuilding orders received
by Japanese yards in May fell to five vessels totalling 188,900
gross tons (gt) from eight ships of 314,000 gt in April,
against four ships of 104,500 gt a year earlier, the Japan Ship
Exporters Association said.
    The backlog of orders at end-May was 122 ships of 3.70 mln
gt against 125 ships of 3.73 mln at end-April and 233 ships of
5.99 mln a year ago, an association official said.
    The world shipping recession and the yen's appreciation
against the dollar depressed May orders, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6223" NEWID="18471">
<DATE>18-JUN-1987 01:26:24.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2120&#31;reute
u f BC-FIRST-CITY-BANCORP-HO   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST CITY BANCORP HOLDS TALKS ON RAISING CAPITAL</TITLE>
<DATELINE>    HOUSTON, June 18 - </DATELINE><BODY>First City Bancorp of Texas Inc &lt;FBT>
said it was talking with several parties about its previously
announced efforts to bolster its capital position.
    The statement, issued yesterday, did not say how close the
bank was to a merger or recapitalisation program.
    "Several parties have expressed an interest in working with
First City," it said. "This exploration process has not been
completed and therefore it would be premature to speculate on
the alternative that First City might pursue."
 First City had "sufficient time" to find a solution to its
financing problems, the statement added.
    A spokesman said the statement was a response to several
recent inquiries about First City's progress in strengthening
its weak capital position.
    Its problems were caused in part by slumps in Texas real
estate and oil prices.
    First City, which lost a record 402 mln dlrs in 1986, had a
first quarter loss of 44.5 mln dlrs. The bank earlier said it
predicted a smaller loss for 1987.
    Banking analysts said First City is unlikely to attract a
suitor unless federal regulators offer buyout assistance. The
company's stock yesterday closed at 2-3/4, down 1/4.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6224" NEWID="18472">
<DATE>18-JUN-1987 01:48:55.07</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>singapore</D><D>japan</D><D>west-germany</D><D>australia</D><D>canada</D><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V [B
&#22;&#22;&#1;f2136&#31;reute
u f BC-SHULTZ-PREDICTS-RAPID   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SHULTZ PREDICTS RAPID NARROWING OF U.S. TRADE GAP</TITLE>
<DATELINE>    SINGAPORE, June 18 - </DATELINE><BODY>Secretary of State George Shultz said
the U.S. Would erase its large foreign trade deficit faster
than many predicted, and the consequences for its trade
partners might be traumatic.
    "The U.S. Economy will inevitably make the adjustment
necessary to move from a deficit to a surplus trade balance in
order to service our growing foreign debt," he told a conference
attended by the six members of the Association of Southeast
Asian Nations and their leading Western friends.
    "In my view, this will happen more rapidly than many
observers now predict."
    "The universal strategy of aggressive export-led growth is
becoming less effective," Shultz said.
    "It is not arithmetically possible for every country in the
world to be a net exporter at the same time. The U.S. Deficit,
which we all decry, has been in a sense the place into which
everyone's export-led strategy for growth has gone."
    "The huge surpluses of Japan and (West) Germany have fed on
this deficit, so something will have to give and it will be
possibly a traumatic experience," he added.
    "While you must keep up the pressure on us to eschew
protectionist policies, you must act too," Shultz said.
    "I can do a better job of convincing the Congress to leave
our door open to imports if more of our trading partners open
their doors wider," he told the group, which included
representatives from Australia, Canada, Japan, New Zealand and
the European Community.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6225" NEWID="18473">
<DATE>18-JUN-1987 02:54:01.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>malaysia</D><D>japan</D><D>china</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2165&#31;reute
u f BC-BARCLAYS-SEES-GROWTH   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BARCLAYS SEES GROWTH IN TRAVELLERS CHEQUES</TITLE>
<DATELINE>    KUALA LUMPUR, June 18 - </DATELINE><BODY>Barclays Plc &lt;BCS.L> expects the
global travellers cheque industry to grow three to six pct a
year in the next five to 10 years despite growing competition
from credit cards, divisional manager K.S. Nicklin said.
    He said the bank expected the size of the market to
increase to between 39 and 40 billion dlrs in 1987 from 37 to
38 billion in 1986 because of worldwide economic recovery.
    He said China, the Gulf states, South America and Japan
would be areas for growth. Middle-income groups in the U.S. And
Canada would continue to use travellers cheques for overseas
trips rather than credit cards.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6226" NEWID="18474">
<DATE>18-JUN-1987 02:56:00.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2166&#31;reute
b f BC-AEGON-NV-ISSUES-100-M   06-18 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>AEGON NV ISSUES 100 MLN DLR EUROBOND</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Aegon NV is issuing a 100 mln dlr
eurobond due July 23, 1990 paying 8-1/4 pct and priced at 101
pct, lead manager Goldman Sachs International Corp said.
    The non-callable bond is available in denominations of
5,000 dlrs and is expected to be listed in Amsterdam. The
selling concession is one pct while management and underwriting
combined pays 3/8 pct.
    The payment date is July 23.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6227" NEWID="18475">
<DATE>18-JUN-1987 03:01:25.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2171&#31;reute
u f BC-JAPANESE-VEHICLE-EXPO   06-18 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE VEHICLE EXPORTS FALL IN MAY</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Japanese vehicle exports fell 9.3 pct in
May from a year earlier to 531,253, mainly because of lower
exports to the U.S., Industry sources said.
    This compares with 633,869 in April.
    Official figures will be announced by the Japan Automobile
Manufacturers Association later this month.
    May exports included 374,482 passenger cars, down 9.9 pct
from a year earlier, and 156,771 commercial vehicles, down 4.3
pct, the sources said. But vehicle kit exports rose 31.3 pct to
154,711, compared with 146,610 in April.
    May exports of kit parts included 115,847 cars, up 35 pct
from a year earlier, and 38,864 commercial vehicles, up 21.4
pct, the industry sources said.
    Japan's car production in May fell 11 pct from a year
earlier to 574,921 and commercial vehicle output fell 4.8 pct
to 335,460, while car kit output rose 29.7 pct from a year
earlier to 106,396 and commercial vehicle kit production rose
34.7 pct to 35,128, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6228" NEWID="18476">
<DATE>18-JUN-1987 03:04:23.55</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2178&#31;reute
f f BC-HONG-KONG'S-DAIRY-FAR   06-18 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>HONG KONG'S DAIRY FARM SAYS IT BIDS FOR 22 PCT OF KWIK
SAVE FOR 146.6 MLN STG
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6229" NEWID="18477">
<DATE>18-JUN-1987 03:07:53.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>bahrain</D><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f2184&#31;reute
u f BC-UAE-LEADERS-REJECT-OV   06-18 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>UAE LEADERS REJECT OVERTHROW OF SHARJAH RULER</TITLE>
<DATELINE>    BAHRAIN, June 18 - </DATELINE><BODY>The Supreme Council of the United Arab
Emirates (UAE) has rejected the overthrow of the ruler of the
emirate of Sharjah, the Emirates news agency, WAM, reported.
    The UAE was plunged into a constitutional crisis yesterday
after the ruling family of Sharjah said its ruler Sheikh Sultan
bin Mohammed al-Qassimi had abdicated in favour of one of his
brothers because of financial mismanagement.
    The Council is the highest federal authority in the UAE,
comprising the rulers of the seven emirates which make up the
group, but it has no power over the internal affairs of
individual states, diplomatic sources said.
    The Supreme Council met in emergency session, without a
representative from Sharjah, under the chairmanship of UAE
President Sheikh Zaid bin Sultan al-Nahayan, WAM said.
    It decided to ignore all statements issued from Sharjah and
would continue meeting until the issue was resolved, the agency
added.
    The Qatar news agency said Sheikh Sultan was in Dubai after
flying back from a private visit to London. The emirate of
Dubai has rejected the Sharjah explanation and said Sheikh
Sultan was ousted by force. It said this was unacceptable and
called for his reinstatement. The UAE was formed in 1971.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6230" NEWID="18478">
<DATE>18-JUN-1987 03:11:57.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2186&#31;reute
u f BC-MARUBENI-CORP-AWARDED   06-18 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>MARUBENI CORP AWARDED SRI LANKAN TELECOM TENDER</TITLE>
<DATELINE>    COLOMBO, June 18 - </DATELINE><BODY>Marubeni Corp &lt;MART.T> of Japan has been
picked to undertake a telecommunications project worth 985 mln
rupees, the Sri Lankan cabinet said in a statement.
    It said Marubeni was selected from five Japanese
competitors for the project, which involves laying new
telecommunications cables in the outskirts of Colombo. Japan is
financing the project.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6231" NEWID="18479">
<DATE>18-JUN-1987 03:15:55.35</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;f2191&#31;reute
b f BC-DAIRY-FARM-BIDS-146.6   06-18 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIRY FARM BIDS 146.6 MLN STG FOR 22 PCT KWIK SAVE</TITLE>
<DATELINE>    HONG KONG, June 18 - </DATELINE><BODY>&lt;Dairy Farm International Holdings
Ltd> said in a statement it is making a tender offer for 22 pct
of Kwik Save Discount Group Plc &lt;KWIK.L> of Britain for a total
146.6 mln stg.
    Dairy Farm said it will offer to buy up to 32.58 mln Kwik
Save shares at 4.50 stg each.
    The offer will bring Dairy Farm's stake in Kwik Save to 25
pct from the present 3.5 pct, or 5.25 mln shares.
    The offer, which will begin on Monday and ends June 30,
requires that the shares tendered will bring its stake to at
least 15 pct.
    Dairy Farm said it will finance the acquisition by placing
89 mln shares with affiliate Jardine Strategic Holdings Ltd
&lt;JARS.HK> at 5.10 H.K. Dlrs each for a total of 454 mln dlrs.
    The placement will raise Jardine Strategic's stake in Dairy
Farm to 39.75 pct from the current 35.3 pct.
    It said the Kwik Save purchase will also be financed with a
loan from the Hongkong and Shanghai Banking Corp &lt;HKBH.HK>. It
did not give the size of the loan but it said it would raise
its net bank borrowings to a maximum of 2.2 billion H.K. Dlrs.
    Dairy Farm said it would reduce its bank borrowings by the
proceeds from the previously announced sale of its office
building in Sydney for 625 mln dlrs.
    It will consider raising additional capital, most probably
through a placement of convertible preference shares in the
Euromarket, it added.
    Company chairman Simon Keswick said the U.K. Market "offers
attractive opportunities for competitively priced food
retailers" and that "a strategic investment in Kwik Save offers
the best vehicle to pursue those opportunities."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6232" NEWID="18480">
<DATE>18-JUN-1987 03:30:29.14</DATE>
<TOPICS><D>gas</D><D>naphtha</D><D>fuel</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f2211&#31;reute
u f BC-SINGAPORE-PETROLEUM-C   06-18 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE PETROLEUM CO RAISES OIL PRODUCT POSTINGS</TITLE>
<DATELINE>    SINGAPORE, June 18 - </DATELINE><BODY>Singapore Petroleum Co Pte Ltd said it
will raise posted prices for its products from June 19, by one
cent/gallon for lpg, naphtha and gasoline, two cents for gas
oil and by 60 cents/barrel for marine diesel oil.
    New prices are - lpg 36.0 cents/gallon, chemical naphtha
47, unleaded reformate 65.8, 0.4 gm lead 97 octane 61.3, 95
octane 59.3, 92 octane 55.5, 85 octane 49.5, 0.125 gm lead 97
octane 64.3, 92 octane 58.5, 85 octane 52.5, jet kerosene 51.5,
kerosene 50.5, premium kerosene 54.5, dual purpose kerosene
52.5, 0.5 pct sulphur gas oil 52.0, one pct sulphur 51.0 and
marine diesel oil 21.20 dlrs/barrel.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6233" NEWID="18481">
<DATE>18-JUN-1987 03:31:29.16</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2214&#31;reute
u f BC-MAZDA-MOTOR-CORP-&lt;MAZ   06-18 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>MAZDA MOTOR CORP &lt;MAZT.T></TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Six months ended April 30
    Parent shr 1.66 yen vs 7.28
    Div 3.50 yen vs same
    Net 1.59 billion vs 6.88 billion
    Current 5.03 billion vs 16.03 billion
    Sales 804.02 billion vs 839.20 billion
    Oustanding shrs 955.00 mln vs 944.15 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6234" NEWID="18482">
<DATE>18-JUN-1987 03:35:51.84</DATE>
<TOPICS><D>meal-feed</D><D>livestock</D><D>carcass</D><D>grain</D><D>corn</D><D>sorghum</D><D>oilseed</D><D>soy-meal</D><D>rapeseed</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G 
&#22;&#22;&#1;f2219&#31;reute
u f BC-JAPAN-1986/87-COMPOUN   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN 1986/87 COMPOUND FEED OUTPUT UP 2.3 PCT</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Japanese compound feed output rose 2.3 pct
to 25.80 mln tonnes in 1986/87 ended March 31 from 25.23 mln a
year earlier, the Agriculture Ministry said.
    The marginal rise reflected slight growth in demand for
poultry raising and a moderate increase in demand for beef
cattle raising, Ministry officials said.
    Compound feed sales totalled 26.01 mln tonnes in 1986/87
against 25.40 mln a year ago, while end-March stocks were
217,554 tonnes against 224,101.
    Corn use in feed output in 1986/87 rose to 11.71 mln tonnes
from 11.02 mln a year earlier due to low import prices.
    The officials said corn imports rose because the world
surplus and the yen's strength against the dollar reduced
Chicago prices. The corn compounding ratio rose to 45.2 pct in
1986/87 from 43.4 pct a year earlier.
    Sorghum use rose marginally to 4.80 mln tonnes in 1986/87
from 4.79 mln, but the compounding ratio fell to 18.5 pct from
18.9 pct because of greater corn use. Higher import prices due
to poor harvests last year in major producing nations such as
Argentina made feed makers reluctant to use sorghum.
    Soybean meal use fell to 2.58 mln tonnes from 2.63 mln and
the compounding ratio declined to 10.0 pct from 10.3 pct.
    The drop in soybean meal consumption resulted from
increased use of cheaper rapeseed meal, the officials said.
    Rapeseed consumption in 1986/87 was 563,889 tonnes against
528,152 a year earlier. The compounding ratio rose to 2.2 pct
from 2.1 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6235" NEWID="18483">
<DATE>18-JUN-1987 03:43:39.62</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;f2229&#31;reute
u f BC-BERISFORD-LIFTS-FIRST   06-18 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>BERISFORD LIFTS FIRST HALF PROFIT 2.5 MLN STG</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>six months to March 31
    Shr 16.25p vs 15.61p
    Div 4.0p vs 3.5p
    Turnover 6.12 billion vs 4.89 billion
    Interest 25.2 mln vs 37.6 mln
    Pretax profit 42.7 mln vs 40.3 mln
    Tax 10.3 mln vs 9.9 mln
    Minorities 1.3 mln vs 439,000
    Extraordinary items 2.6 mln credit vs 1.2 mln debit
    Note - company name is S and W Berisford Plc &lt;BRFD.L>
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6236" NEWID="18484">
<DATE>18-JUN-1987 03:45:07.73</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2231&#31;reute
u f BC-N.Z.-GOVERNMENT-FOREC   06-18 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>N.Z. GOVERNMENT FORECASTS BUDGET SURPLUS 379 MLN DLRS VS
1.95 BILLION DEFICIT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6237" NEWID="18485">
<DATE>18-JUN-1987 03:46:16.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2232&#31;reute
u f BC-NEW-BANGLADESH-LAW-AL   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW BANGLADESH LAW ALLOWS STATE FIRM SHARE SALES</TITLE>
<DATELINE>    DHAKA, June 18 - </DATELINE><BODY>Parliament passed a law allowing
state-owned industrial companies to sell 49 pct of their shares
to staff and private investors, the official BSS news agency
said.
    Under the new law, passed yesterday, 51 pct of shares in
the affected companies will be held by the government, 34 pct
by the public and 15 pct by staff. The law also allows workers
to nominate a member to the board of directors if they buy at
least 12 pct of a company's shares.
    Bangladesh has returned more than 500 industrial companies
to private ownership since March 1982.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6238" NEWID="18486">
<DATE>18-JUN-1987 03:46:21.62</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;f2233&#31;reute
f f BC-NEW-ZEALAND-TO-REPAY   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NEW ZEALAND TO REPAY 600 MLN DLRS FOREIGN DEBT, MINISTER
SAYS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6239" NEWID="18487">
<DATE>18-JUN-1987 03:50:32.88</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2242&#31;reute
u f BC-SOUTH-AFRICAN-M-3-APR   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICAN M-3 APRIL GROWTH REVISED UPWARD</TITLE>
<DATELINE>    PRETORIA, June 18 - </DATELINE><BODY>South African year-on-year broadly
defined M-3 money supply growth was revised upward to 10.37 pct
for April from a preliminary 10.08 pct, but was down from a
revised 10.69 pct in March, Reserve Bank figures show.
    M-3 rose to a revised 82.38 billion rand in April from a
preliminary 82.17 billion and March's revised 81.39 billion. In
April last year M-3 stood at 74.64 billion rand.
    Preliminary figures for May show M-3 at 83.24 billion rand
for a year-on-year rise of 10.97 pct from 75.01 billion in May
1986.
    April M-1A rose a year-on-year 15.12 pct to 14.22 billion
rand after rising 14.72 pct to 13.97 billion in March while M1
rose 24.49 pct to 27.92 billion after a 20.69 pct increase to
26.97 billion, the figures showed.
    M-2 rose 8.28 pct to 58.71 billion in April after rising
6.47 pct to 57.52 billion in March.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6240" NEWID="18488">
<DATE>18-JUN-1987 03:52:04.77</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2245&#31;reute
b f BC-COMMONWEALTH-BANK-CUT   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH BANK CUTS AUSTRALIAN SPLIT PRIME</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>The Commonwealth Bank of Australia said
it will lower its reference rate for loans to 15.75 pct from
16.25 pct and its overdraft reference rate to 16.25 pct from
16.75, effective June 24.
    Bank officials have said the bank regards the overdraft
reference rate, based on short-term rate trends, as its key
prime lending rate to corporate customers. The loan reference
rate is based on longer term trends.
    The bank is the latest to cut prime rates in recent days
following a continuing decline in market rates. Other prime
rates now range from 16 pct to 17.5 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6241" NEWID="18489">
<DATE>18-JUN-1987 03:56:19.47</DATE>
<TOPICS><D>silver</D><D>platinum</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>keating</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M C 
&#22;&#22;&#1;f2250&#31;reute
u f BC-AUSTRALIA-TO-PRODUCE   06-18 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA TO PRODUCE SILVER AND PLATINUM COINS</TITLE>
<DATELINE>    CANBERRA, June 18 - </DATELINE><BODY>The Australian government has given
support in principle to the production of platinum and silver
bullion coins at the Perth Mint, Treasurer Paul Keating said.
    This followed the success of the Australian Nugget gold
bullion coins launched this year, he said in a statement.
    He said that, as with the Australian nuggets, the coins
would be legal tender. The platinum coins would be made in four
weights but the silver coin would be of one ounce weight.
    He said detailed arrangements for their issue would be
finalised after talks between the Federal authorities and the
Western Australian government, owner of the Perth Mint.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6242" NEWID="18490">
<DATE>18-JUN-1987 04:05:49.72</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2260&#31;reute
u f BC-S.KOREA-SEES-GNP-GROW   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>S.KOREA SEES GNP GROWTH MORE THAN 10 PCT THIS YEAR</TITLE>
<DATELINE>    SEOUL, June 18 - </DATELINE><BODY>South Korea's gross national product (GNP)
will exceed 10 pct real growth this year and the won will rise
further as long as the current account surplus continues to
widen, Deputy Prime Minister Chun In-Yong told reporters.
    Chung, who is also Minister of Economic Planning, said his
GNP estimate was based on the assumption that the economy will
remain stable.
    The official target for 1987 GNP growth is eight pct.
    GNP rose 15.6 pct between the first quarters of 1987 and
1986, according to provisional Bank of Korea figures.
    GNP rose 12.5 pct in calendar 1986.
    In the first four months of this year, the current account
swung to a surplus of 2.5 billion dlrs from a deficit of 294
mln dlrs in the same 1986 period.
    "What the Minister said does not imply any major economic
policy change," a Ministry spokesman told Reuters. "But he tried
to urge business circles to prepare for the forseeable economic
(future) ... A high won era."
    South Korean manufacturers, who have insisted the won
should not rise more than seven pct this year, have said they
plan to ask the government to slow down its appreciation
against the dollar.
    The Bank of Korea today quoted the won unchanged at 812.05
against the dollar, a 6.02 pct gain so far this year compared
with a 3.34 pct increase for the whole of 1986.
    The won strengthened by 6.60 won to the dollar in three
days earlier this month while an International Monetary Fund
team held talks here to discuss revaluation.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6243" NEWID="18491">
<DATE>18-JUN-1987 04:12:53.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE><D>douglas</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2270&#31;reute
b f BC-NEW-ZEALAND-FORECASTS   06-18 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW ZEALAND FORECASTS 379 MLN DLR BUDGET SURPLUS</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>The New Zealand government is
forecasting a budget surplus of 379 mln N.Z. Dlrs for the year
ending March 1988, Finance Minister Roger Douglas said in a
statement.
    This compares with a deficit of 1.95 billion dlrs in the
year ending March 1987 and a 1.87 billion dlr deficit a year
earlier.
    Total expenditure is seen at 22.907 billion dlrs against
20.94 billion in the year to end-March 1987. Total revenue is
seen at 23.29 billion dlrs against 18.992 billion.
    The forecast rise in revenue comes partly from the 10 pct
value added goods and services Tax (GST) introduced in October
1986 which is seen bringing in 4.1 billion dlrs against 1.23
billion a year earlier.
    Other indirect taxation is seen rising to 3.1 billion dlrs
from 2.2 billion. Company tax is forecast to bring in 2.39
billion dlrs against 1.22 billion a year earlier while the tax
take from individuals is seen little changed at 10.7 billion
dlrs against 10.9 billion.
    Excluding revenue and expenditure of a capital nature, such
as repayment of loans by state-owned enterprises or revenue
from asset sales, the budget would indicate a deficit of 1.27
billion dlrs, Douglas said
    Using this "financial deficit" method the deficit in the year
to end March 1987 was 1.89 billion dlrs, he said.
    Douglas said using this method, the financial deficit
forecast for 1987/88 measures 2.2 pct of gross domestic product
against 6.9 pct a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6244" NEWID="18492">
<DATE>18-JUN-1987 04:13:01.92</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2271&#31;reute
f f BC-British-Telecom-preta   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>British Telecom pretax profit rises 11.7 pct to 2.07
billion stg in yr to end-March
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6245" NEWID="18493">
<DATE>18-JUN-1987 04:14:35.65</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f2273&#31;reute
u f BC-AUSTRALIAN-CRUDE-OUTP   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN CRUDE OUTPUT FALLS IN FIRST NINE MONTHS</TITLE>
<DATELINE>    CANBERRA, June 18 - </DATELINE><BODY>Australian crude oil and condensate
output fell 7.6 pct to 23,480 megalitres, or about 147 mln
barrels, in the first nine months of fiscal 1986/87 ending June
30, the Department of Resources and Energy said.
    The decline in production in the nine months to end-March
reflected mainly a sharp dip early in the fiscal year, when low
oil prices and high marginal excise rates led to a reduction of
output from Bass Strait, department figures in its Major Energy
Statistics publication show.
    A megalitre is 6,290 barrels.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6246" NEWID="18494">
<DATE>18-JUN-1987 04:17:26.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE><D>douglas</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2278&#31;reute
u f BC-NEW-ZEALAND-TO-REPAY   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW ZEALAND TO REPAY UP TO 600 MLN DLRS OF DEBT</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>New Zealand will repay a portion of
its 42.48 billion N.Z. Dlr public debt for the first time since
1952 as a result of a 379 mln N.Z. Dlr budget surplus for
fiscal March 1988, Finance Minister Roger Douglas said.
    Douglas said in a budget statement the surplus is the first
achieved in New Zealand in 35 years. It compared with a 1.95
billion dlr deficit in fiscal 1987.
    Douglas said this year's government bond tender program
would be adjusted in the light of the surplus, providing for
the repayment of up to 600 mln dlrs of New Zealand's 21.74
billion dlrs of overseas debt.
    Details of which loans will be repaid have still to be
decided.
    Douglas said the present scale of the public debt was
massive.
    "It will take many years to reduce the debt to an acceptable
level," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6247" NEWID="18495">
<DATE>18-JUN-1987 04:21:05.97</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;f2283&#31;reute
b f BC-BRITISH-TELECOM-RAISE   06-18 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM RAISES 1986/87 PROFIT 11.7 PCT</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Year to end-March
    Shr 20.9p, a 22.3 pct rise
    Div 5.1p making 8.45p vs vs 7.5p
    Turnover 9.42 billion, a 12.4 pct increase
    Operating profit 2.35 billion, a 10.9 pct increase
    Pretax profit 2.07 billion, a 11.7 pct rise
    Fourth quarter 1987
    Turnover 2.42 billion, a 8.4 pct rise
    Operating profit 629.0 mln, a 12.1 pct increase
    Pretax profit 555.0 mln, a 11.7 pct rise.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6248" NEWID="18496">
<DATE>18-JUN-1987 04:21:26.29</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>austria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2285&#31;reute
u f BC-AUSTRIAN-CURRENT-SURP   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRIAN CURRENT SURPLUS GROWS IN FOUR MONTHS</TITLE>
<DATELINE>    VIENNA, June 18 - </DATELINE><BODY>Austria's current account surplus grew to
11.0 billion schillings in the first four months this year from
8.2 billion in the same period last year, the National Bank
said.
    In April, the current account recorded a deficit of 300 mln
schillings compared with an 800 mln surplus in March and an 800
mln deficit in April, 1986, the bank said in a statement.
    The trade deficit in the first four months fell to 16.4
billion schillings from 17.5 billion in the same period last
year while in April the deficit was 4.1 billion compared with
6.9 billion in March and 3.6 billion in April, 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6249" NEWID="18497">
<DATE>18-JUN-1987 04:21:34.85</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;f2287&#31;reute
b f BC-JOHNSON-MATTHEY-RAISE   06-18 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>JOHNSON MATTHEY RAISE PRETAX PROFITS BY 67.8 PCT</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Year to March 31
    Fin div 3.5p making 5.5p vs 2.5p
    Shr 25.2p vs 14.7p
    Pretax profit 50.5 mln stg vs 30.1 mln
    Net after tax 36.0 mln vs 21.6 mln
    Turnover 1.22 billion vs 1.16 billion
    Extraordinary dbt 10.3 mln vs 8.2 mln
    Note - Full company name is &lt;Johnson-Matthey Plc>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6250" NEWID="18498">
<DATE>18-JUN-1987 04:24:26.20</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;f2292&#31;reute
u f BC-N.ZEALAND-DEBT-PROGRA   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>N.ZEALAND DEBT PROGRAM REVISED ON BUDGET SURPLUS</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>A forecast 379 mln N.Z. Dlr surplus
in the government's 1987/88 budget will allow a significant
reduction in the government debt program, Finance Minister
Roger Douglas said in a statement.
    "There are however good reasons to maintain a higher
borrowing program than the Budget numbers require," he said.
    The government will borrow a further 950 mln dlrs this
fiscal year, down from the further 1.75 billion originally
planned.
    "The amount of foreign currency debt generated by previous
economic mismanagement is too large," Douglas said. "It would not
be sensible when presented with an opportunity to repay some
debt to do so only in respect of domestic debt."
    The government also has an interest in keeping enough of a
domestic borrowing program going to keep the secondary market
efficient, he said. That will give the government better
borrowing terms in future, he added.
    Douglas said the revised debt program also meant the
government would be able to retire over 650 mln dlrs of
domestic debt and 600 mln dlrs of foreign debt.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6251" NEWID="18499">
<DATE>18-JUN-1987 04:31:05.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2302&#31;reute
u f BC-BERISFORD-SIX-PCT-PRO   06-18 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>BERISFORD SIX PCT PROFIT RISE MAINTAINS MOMENTUM</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>S and W Berisford Plc &lt;BRFD.L> said a six
pct rise in pretax profits to 42.7 mln stg in the first half
had maintained last year's momentum despite poor commodities
trading conditions and continued rationalisation costs.
    Its British Sugar Corp Plc unit produced its best ever
performance due to greater efficiency and better selling prices
and was on course for record full year profits.
    In the last year Berisford attempted to sell the unit and
attracted several bids. A bid by Hillsdown Holdings Plc
&lt;HLDN.L> was abandoned, one from Tate and Lyle Plc &lt;TATL.L>
officially blocked and a sale of BSC to &lt;Gruppo Ferruzzi> also
prevented.
    It had authorised a further 46 mln stg in capital
expenditure in BSC for next year, eight mln higher than the
anticipated total this year.
    Berisford said it was particularly pleased with the
progress of its associate Hunter Saphir Plc, in which it
acquired a substantial equity stake in January in return for
the sale of some of its food manufacturing companies.
    Since the deal was completed, the market value of the stake
in Hunter had almost doubled and at the same time enabled the
group to concentrate efforts in its food division on
ingredients -- mainly sugar, gelatine and flavours.
    The property division maintained good growth while
financial services made a satisfactory contribution to profits.
However, the results of the industrial division continued to be
disappointing although the rationalisation programme was
progressing well.
    Commodity operations returned to profit after a second half
loss last year. The results reflected dull market conditions,
with coffee trading failing to repeat last year's exceptional
first half performance due to extremely difficult conditions in
world markets.
    It said it was reducing its exposure to the volatility of
commodity earnings by concentrating on a smaller range of key
commodities.
    Berisford shares firmed one penny on the announcement to
366p.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6252" NEWID="18500">
<DATE>18-JUN-1987 04:35:02.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F M C 
&#22;&#22;&#1;f2305&#31;reute
u f BC-CANADIAN-MINES-AGREE   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADIAN MINES AGREE TO CUT COAL PRICE</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Members of the Bull Moose coking coal mine
in British Columbia, Canada, agreed to cut the base price they
charge Japanese steelmakers to 91.77 Canadian dlrs a tonne FOB
for the year from April 1, down 14 dlrs from 1986/87, an
official at a company involved in the deal said.
    The Nippon Kokan KK &lt;NKKT.T> official said the cut was
agreed after five months of talks between &lt;Teck Corp>, &lt;Rornex
Mining Corp Ltd> and &lt;Nissho Iwai Coal Development (Canada)
Ltd>.
    He said the Japanese side would continue to ask the miners
to improve the quality of Bull Moose coal's ash specification.
    Japanese steel mills and several Canadian exporters
including the sellers of Bull Moose coal have had several
rounds of negotiations on coking coal base prices this year,
industry sources said.
    The Japanese steel firms started a new round of base price
talks with &lt;Quintette Coals Ltd> yesterday, while discussions
with &lt;Gregg River Co Ltd> will be held later this month, they
said.
    Nissho Iwai Coal is a unit of &lt;Nissho Iwai Corp> of Japan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6253" NEWID="18501">
<DATE>18-JUN-1987 04:36:10.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2308&#31;reute
u f BC-BANK-OF-JAPAN-TO-SELL   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN TO SELL 200 BILLION YEN IN BILLS</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>The Bank of Japan will sell tomorrow 200
billion yen in financing bills through 35-day repurchase
agreements maturing July 24 to help mop up a projected money
market surplus, money traders said.
    The yield on the bills for sale to banks and securities
houses from money houses will be 3.6005 against today's
one-month commercial bill discount rate of 3.5625 pct and
one-month certificate of deposit rate of 3.98/86 pct. Traders
estimate a 300 billion yen surplus due to tax allocations to
local governments and public entities. The operation will put
outstanding bill supplies at about 2,000 billion yen.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6254" NEWID="18502">
<DATE>18-JUN-1987 04:36:56.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D><D>west-germany</D><D>france</D><D>belgium</D><D>norway</D><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>zse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2312&#31;reute
u f BC-VOLVO-TO-BE-LISTED-ON   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLVO TO BE LISTED ON SWISS BOURSES</TITLE>
<DATELINE>    STOCKHOLM, June 18 - </DATELINE><BODY>Sweden's Volvo AB &lt;VOLV ST> said its
B-Free shares are to be listed on the Zurich, Basle and Geneva
bourses in the autumn.
    The company said in a statement that the new listing would
further expand the number of international bourses on which
Volvo shares are quoted. It is already quoted on stock
exchanges in Sweden, Britain, West Germany, France, Belgium,
Norway and Tokyo, and its shares are also traded
over-the-counter in the United States.
    "Switzerland attracts us as one of the most international
capital markets," Lennart Jeansson, of the Volvo board, said.
    A Swiss bank consortium led by Credit Suisse had carried
out a secondary placement of 500,000 B-Free Volvo shares on the
Swiss market in preparation for Volvo's autumn entry onto the
bourses, Volvo said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6255" NEWID="18503">
<DATE>18-JUN-1987 04:38:54.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2319&#31;reute
u f BC-DAIRY-FARM-GETS-1.2-B   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIRY FARM GETS 1.2 BILLION H.K. DLR LOAN</TITLE>
<DATELINE>    HONG KONG, June 18 - </DATELINE><BODY>&lt;Dairy Farm International Holdings
Ltd> obtained a 1.2 billion H.K. Dlr loan from the Hongkong and
Shanghai Banking Corp to finance its tender offer for a 22 pct
stake in Kwik Save Discount Group Plc &lt;KWIK>, Dairy Farm
chairman Simon Keswick told reporters.
    He did not disclose the terms of the loan but said they
were "fairly fair."
    Dairy Farm said earlier in a statement it would offer to
buy up to 32.58 mln Kwik Save shares at 4.50 stg each, raising
its stake in the retail firm to 25 pct from 3.5 pct now.
    Keswick said Dairy Farm wanted to obtain at least 15 pct of
Kwik Save, which would make it Kwik Save's biggest shareholder,
otherwise it would dispose of its entire stake.
    Kwik Save opened at 4.45 stg, up from yesterday's 3.90 stg
close.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6256" NEWID="18504">
<DATE>18-JUN-1987 04:42:22.47</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2324&#31;reute
u f BC-GOVERNMENT-TO-SELL-25   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GOVERNMENT TO SELL 25 PCT OF AIR NEW ZEALAND</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>The New Zealand Government will sell
25 pct of state-owned &lt;Air New Zealand Ltd> to the public,
Civil Aviation minister Richard Prebble said.
    Prebble said in a statement the government would appoint an
adviser to help it decide how the shares should be sold, the
timing of any sales and the price.
    "Clearly there will be a need to gauge the effect of other
proposed share issues so as to enter the market at the best
opportunity," Prebble said.
    "We are in no particular rush to sell our shares in Air New
Zealand," he said.
    "Our aim is to maximise the benefit to the taxpayer. If that
means waiting for a while, then so be it," Prebble said.
    He said Air New Zealand expects to release its results soon
for the year to March 31 1987. He said he was confident it
would post an excellent profit.
    Prebble said Air New Zealand was successful but its ability
to prosper in future was hampered by its
wholly-government-owned status.
    Prebble said access to new sources of capital would
increase its ability to expand and develop.
    This sale announcement follows the public float in March of
around 13 pct of the &lt;Bank of New Zealand Ltd>.
    The government has said it will also float part of the
capital of other state-owned operations, including &lt;DFC New
Zealand Ltd>, formerly Development Finance Corp of New Zealand
Ltd, and Petroleum Corp of New Zealand Ltd.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6257" NEWID="18505">
<DATE>18-JUN-1987 04:45:32.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2331&#31;reute
b f BC-ALCAN-AUSTRALIA-SEEKS   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>ALCAN AUSTRALIA SEEKS 100 MLN DLR FACILITY</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Alcan Australia Ltd &lt;AL.S> seeks a 100
mln U.S. Dlr, eight year underwritten note issuance facility,
Swiss Bank Corporation International Ltd said as arranger.
    The facility, which allows banks the option to withdraw
after five years with three months' notice, involves the
issuance through a tender panel of notes with maturities up to
six months.
    The maximum yield will be 20 basis points over London
Interbank Offered Rates (LIBOR) and there is a 3/16 pct
underwriting fee, regardless of utilisation. Alcan Australia is
indirectly 70 pct owned by Alcan Aluminium Ltd of Canada.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6258" NEWID="18506">
<DATE>18-JUN-1987 04:49:01.29</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2336&#31;reute
f f BC-BET-pretax-profit-157   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BET pretax profit 157.4 mln stg vs 124.6 in year to
end-March
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6259" NEWID="18507">
<DATE>18-JUN-1987 05:00:09.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2358&#31;reute
u f BC-JAPAN-FINISHING-UP-WO   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN FINISHING UP WORK ON SUPPLEMENTARY BUDGET</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>The Finance Ministry is putting the
finishing touches on a roughly 2,000 billion yen supplementary
budget for 1987/88 and has started to turn its attention to
next year's main budget, ministry officials said.
    The supplementary budget is designed to help finance the
6,000 billion yen emergency economic package the government
unveiled last month to boost domestic demand.
    Ministry officials said the government would issue about
1,300 billion yen in construction bonds to help pay for the
increased public investment set out in the emergency package.
    The rest of the supplementary budget will be financed by
450 billion yen in proceeds from last year's sale of shares in
Nippon Telegraph and Telephone Corp (NTT) and by higher than
expected 1986/87 tax revenues, officials said.
    One official said the carry-over of tax revenues into the
1987/88 fiscal year that began on April 1 might be more than
1,000 billion yen. Soaring land and share prices have boosted
receipts, especially from securities and land taxes.
    With less than half of the carry-over likely to be used in
the current supplementary budget, the rest will be available
for a second supplementary budget expected later this year.
    The second supplementary budget will be used to finance the
government's wage bill, which will not be known until after
wage talks later this year, one official said.
    The government must also finance the tax cut of more than
1,000 billion yen which it promised in its emergency package
but which will not be contained in the first supplementary
budget, due to be presented to parliament next month.
    The Finance Ministry's budget bureau is hoping the tax
carry-over and higher than expected revenues again this year
will be enough to finance the second supplementary budget, he
said.
    Officials said the Finance Ministry does not want to issue
deficit-financing bonds or use the extra proceeds from this
year's NTT share sale to fund the second supplementary budget.
    Besides the first supplementary budget, the government also
intends to introduce a new tax reform bill to parliament during
the upcoming extraordinary session, officials said.
    The government was forced to abandon its first tax reform
bill due to strong opposition to its plan to introduce a five
pct sales tax.
    The sales tax was designed to help finance cuts in
individual and corporate income taxes.
    The new bill will present the 1,000 billion yen-plus tax
cut contained in the emergency package as the first step to an
overhaul of the country's tax system, officials said.
    It will also contain a controversial plan to phase out tax
breaks on savings, although it may not take effect in October
as originally planned, they said.
    Looking ahead to next year's main budget, the Finance
Ministry is beginning to debate whether to abandon its
so-called minus ceiling for public investment.
    That policy calls on government departments to cut public
investment spending by five pct per year.
    Economic Planning Minister Tetsuo Kondo said recently the
policy would be suspended in 1988/89, pending a recommendation
from the government's administrative reform council.
    The ruling Liberal Democratic Party said in April that
budget request guidelines for invesment expenditures would be
reviewed.
    But some officials at the Finance Ministry's budget bureau
said they were hopeful the policy would be retained.
    They fear that a suspension of the guidelines for public
investment could lead to increased pressure on the government
to loosen its grip on current expenditures as well.
    The account would also extend interest-free loans to
profitable public works projects developed in conjunction with
the private sector, the officials said.
    In this way, the Finance Ministry could meet growing
pressure on it to boost capital spending while maintaining a
tight grip on outlays by other government departments.
    Surplus funds from this year's sale of NTT shares could
total about 3,000 billion yen. Based on the current market
price, the planned sale of 1.95 mln shares would raise more
than 5,000 billion yen, compared to about 2,000 billion planned
for in the main 1987/88 budget.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6260" NEWID="18508">
<DATE>18-JUN-1987 05:10:18.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2375&#31;reute
b f BC-GLAXO-HAS-NO-KNOWLEDG   06-18 0120</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
GLAXO HAS NO KNOWLEDGE OF BEARISH PRESS ARTICLE LONDON, June 18
- A spokesman for pharmaceuticals giant Glaxo Holdings Plc
&lt;GLXO.L> said he had no knowledge of a bearish U.S. Press
article which London share dealers said has helped depress the
shares in early trading here.
    Glaxo shares fell to a low of 1,725 this morning after
heavy selling in the U.S. Overnight on rumours the New England
Medical Journal had published an article critical of the "Zantac"
anti ulcer drug. The shares later rallied to stand 34p down at
1,751.
    Dealers said the share price move was also based on profit
taking after yesterday's rise on bullish remarks from chairman
Paul Girolami and the shares' debut on the Tokyo market.
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6261" NEWID="18509">
<DATE>18-JUN-1987 05:14:40.93</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2383&#31;reute
u f BC-S.-AFRICAN-PRODUCER-P   06-18 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>S. AFRICAN PRODUCER PRICE INFLATION RISES IN APRIL</TITLE>
<DATELINE>    PRETORIA, June 18 - </DATELINE><BODY>South African year-on-year producer
price inflation rose to 16.1 pct in April against 15.8 pct in
March, Central Statistics Office figures show.
    The all items index (base 1980) rose a monthly 1.2 pct to
242.5 in April after increasing 1.1 pct to 239.6 in March and
standing at 208.9 a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6262" NEWID="18510">
<DATE>18-JUN-1987 05:17:20.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2392&#31;reute
r f BC-BANK-OF-FINLAND-PREDI   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF FINLAND PREDICTS 1987 INVESTMENT SURGE</TITLE>
<DATELINE>    HELSINKI, June 18 - </DATELINE><BODY>Finnish industrial investment will rise
10 pct in 1987 from last year reaching its highest rate since
1980, the Bank of Finland's two year survey predicted.
    Investment will centre on machinery and equipment, with a
rise of almost 25 pct.
    There will almost be a rise of 20 pct in investment in
manufacturing, with notable growth in the paper industry,
chemicals, building materials and consumer goods sectors.
    The rate of growth will fall back in 1988 with spending
remaining at the same level as this year, the survey said.
    Research and development spending will show a rise of over
three billion markka, representing 18 pct of investment in
1987.
    Finland's investment rate is high internationally as the
share of capital intensive industries is relatively large.
    "But the quicker growth of Finnish industrial production is
also an indication investments are promoting a renovation and
increase in production capacity," the survey said.
    Manufacturing industry would have a capacity use rate of 86
pct at the end of 1987, one pct above the rate at the start of
the year. This was expected to grow further next year, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6263" NEWID="18511">
<DATE>18-JUN-1987 05:18:47.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2395&#31;reute
u f BC-BET-SAYS-RESULTS-SHOW   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>BET SAYS RESULTS SHOW STRATEGY IS WORKING</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>BET Plc &lt;BETL.L> said slightly higher
than expected results for the year to March showed that its
strategy was working. BET raised pretax profits in the year to
157.4 mln stg from 124.6 mln previously.
    It had continued to build on a range of complementary
services through a combination of organic growth and carefully
targetted acquisitions.
    A company statement said it was confident that the figures
would provide an effective springboard for the broadening of
its shareholder base, particularly through the issue of
American Depositary Receipts in the U.S. Later this year.
    BET also said it was appointing Sir Timothy Bevan, formerly
chairman of Barclays Plc to replace Sir Hugh Dundas when he
retires as Chairman in December.
    BET's net debt fell four pct in the year to 262 mln stg
with gearing down to 63 pct from 65 pct.
    Returns on assets, sales  and capital employed showed
further improvement in the period.
    BET shares at 0907 GMT were quoted at 291p, one penny
firmer on last night's close.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6264" NEWID="18512">
<DATE>18-JUN-1987 05:25:17.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f2406&#31;reute
b f BC-EC-FARM-MINISTERS-END   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>EC FARM MINISTERS END MEETING WITHOUT PRICE ACCORD</TITLE>
<DATELINE>    LUXEMBOURG, June 18 - </DATELINE><BODY>European Community farm ministers
plunged the bloc into a crisis today by ending a marathon
negotiation on 1987/88 farm prices without agreement.
    Their chairman, Belgian Paul de Keersmaeker, told a press
conference this morning ministers gave a majority vote in
favour of all aspects of an EC Commission compromise proposal
introduced on Tuesday.
    However, the minority against the crucial plan for a tax on
vegetable and marine oils and fats was big enough to block its
adoption, and British Agriculture Minister John MacGregor said
other aspects of the proposals are likely to be vetoed.
    MacGregor said the meeting foundered in part because of an
implicit indication from the West Germans that they were
prepared to veto two other aspects of the package, the future
monetary compensatory amounts system and proposals directly
connected with common prices.
    De Keersmaeker said he will now consider when ministers
should be called for further talks, but diplomats said the
outcome of the meeting makes it almost certain the major
outstanding issues will be referred to EC heads of government
who hold a summit meeting on June 29 and 30 in Brussels.
    A Commission official said the Commission will work out
stopgap measures which it will bring in on July 1 if the
deadlock persists. These will concern products such as cereals,
colza, sugar, beef and milk, for which there would otherwise be
no legal EC regulations from that date.
    Trade sources expect these will include a seven pct cut in
guaranteed prices for most cereals.
    The official said the measures "will take into account the
situation in the market, but also the EC's severe budgetary
situation."
    The Commission was expecting an EC budget deficit this year
of almost six billion dlrs even before it presented its
compromise, which would have cost almost one billion more. It
estimates the oils and fats tax would bring in 2.3 billion dlrs
in a full year.
    Diplomats said Britain, West Germany and the Netherlands
maintained their opposition to the tax despite Commission
attempts to persuade them it would not unfairly hit exports
from countries outside the EC.
    They added Denmark did not formally state its final
position but was understood to remain against.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6265" NEWID="18513">
<DATE>18-JUN-1987 05:27:08.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE><D>douglas</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2411&#31;reute
u f BC-NEW-ZEALAND-TO-CLOSE   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW ZEALAND TO CLOSE TAX LOOPHOLES</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>Finance Minister Roger Douglas said
New Zealand would enact legislation to prevent local companies
and individuals from using overseas tax havens.
    The government would also outlaw the practice of double
deduction of losses by dual resident companies, known as "double
dipping," Douglas said in a budget statement.
    The anti-tax-haven legislation would affect non-resident
entities, such as companies and trusts, set up in low tax
countries and earning mainly passive investment income, Douglas
said.
    A consultative document will be released in September
explaining the proposed legislation, and a consultative
committee will then receive public submissions and advise the
government on implementation, Douglas said.
    The legislation would attack tax avoidance but not genuine
business activity, he added.
    He said some New Zealand residents were avoiding New
Zealand tax entirely by setting up non-resident entities in tax
havens, which intercepted and gathered income taxable in New
Zealand.
    In a move to counter "double dipping," the government would
no longer allow dual resident companies to group their losses,
Douglas said.
    The proposed legislation would require them to carry tax
losses forward to be offset against future profits, effective
for income years starting after December 17, 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6266" NEWID="18514">
<DATE>18-JUN-1987 05:29:09.53</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;f2418&#31;reute
u f BC-LONDON-INTERNATIONAL   06-18 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>LONDON INTERNATIONAL RAISE PROFITS BY 3.05 MLN</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Year to March 31
    Final dividend 3.65p vs 3.1p making 5.4p vs 4.6p
    Share 14.11p vs 12.13p
    Pre-tax profit 27.11 mln stg vs 24.06 mln
    Net profit 18.12 mln vs 15.21 mln
    Turnover 252.11 mln vs 225.29 mln
    Note - London International Group Plc &lt;LONL.L> said that
sharply increased sales of condoms had led to a particularly
strong start to the year and it had considerable confidence for
the future. REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6267" NEWID="18515">
<DATE>18-JUN-1987 05:31:32.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2422&#31;reute
u f BC-INDIAN-DEVELOPMENT-BA   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIAN DEVELOPMENT BANK TO RAISE 10 BILLION YEN</TITLE>
<DATELINE>    BOMBAY, June 18 - </DATELINE><BODY>The state-owned Industrial Development
Bank of India (IDBI) has given &lt;Morgan Guaranty Ltd, Hong Kong>
the mandate to arrange a 10 billion yen loan in Japan, a senior
IDBI official told Reuters.
    The 15-year loan, to be signed next month, carries interest
pegged to the Japanese long-term prime rate, now at around five
pct per annum, said the official who declined to be named.
    The loan will be IDBI's first foreign currency borrowing
for the financial year beginning July 1, 1987, he said without
specifying IDBI's total targetted borrowings for the year.
    IDBI, which has raised 85 mln dlrs in Euroloans and 100 mln
Swiss Francs in 1986/87, first entered the Japanese market in
1984/85 by raising two loans of five billion yen each, followed
by a 10 billion Euroyen loan last year.
    IDBI lends foreign currency funds to local industrial
borrowers to help them import capital goods.
    Bankers said the Industrial Credit and Investment Corp of
India, India's only private sector financial institution, is
holding talks with foreign banks on arranging a loan of 10
billion yen. They said India's commercial borrowings in 1987/88
may remain at the 1986/87 level of 1.5 billion dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6268" NEWID="18516">
<DATE>18-JUN-1987 05:33:42.40</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;f2426&#31;reute
u f BC-NEW-ZEALAND-TAX-IMPUT   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW ZEALAND TAX IMPUTATION SYSTEM BY 1988/89</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>Finance Minister Roger Douglas said
the government would introduce a full tax imputation system on
dividends effective from the 1988/89 income year.
    Confirming the government's timetable for the imputation
system, which had been announced in earlier budgets, Douglas
said in a statement that the system would substantially reduce
the influence of the tax system on companies' financial
policies and investment strategies.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6269" NEWID="18517">
<DATE>18-JUN-1987 05:35:59.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2430&#31;reute
u f BC-TOYOTA-AND-NISSAN-EXP   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>TOYOTA AND NISSAN EXPORTS FALL IN MAY</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Toyota Motor Corp &lt;TOYO.T> and Nissan
Motor Co Ltd &lt;NSAN.T> both said May vehicle exports fell from a
year earlier mainly due to the yen rise against the dollar.
    Toyota's exports fell 9.5 pct from a year earlier to
161,266 vehicles in May while Nissan's fell 17.6 pct to
100,221.
    Toyota's exports to the U.S. Fell 13.9 pct from a year
earlier to 90,096 in May and those to Europe fell 2.8 pct from
a year earlier to 34,876.
    Nissan's exports to the U.S. Fell 25.4 pct to 53,604 but
those to Europe rose 0.7 pct to 29,721.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6270" NEWID="18518">
<DATE>18-JUN-1987 05:36:27.98</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2431&#31;reute
f f BC-Belgium-cuts-three-mo   06-18 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Belgium cuts three month treasury certificate rate 0.10
points to 6.85 pct - official
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6271" NEWID="18519">
<DATE>18-JUN-1987 05:41:41.80</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2442&#31;reute
u f BC-TOSHIBA,-SHARP-RESTRA   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TOSHIBA, SHARP RESTRAIN LAP-TOP PC EXPORTS TO EC</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Toshiba Corp &lt;TSBA.T> and Sharp Corp
&lt;SHRP.T> decided to maintain exports of lap-top personal
computers to the European Community (EC) at last year's levels,
despite the halt of shipments to the U.S., Company spokesmen
told Reuters.
    They said the voluntary restraints were aimed at averting
EC sanctions urged by European computer makers. The Europeans
feared Japanese personal computers would flood EC markets after
Washington imposed 100 pct tariffs last April.
    Toshiba and Sharp together control about 40 pct of the
personal computer market in the EC, the Sharp spokesman said.
    Toshiba said exports of T1100 and T3100 lap-top computers
would continue at 5,000 units a month for the time being.
    Sharp said exports to the EC of PC 7000 series lap-top
personal computers would continue at last year's level of
12,000 to 16,000 units a year.
    Washington imposed the tariffs because of Japan's alleged
failure to uphold a 1986 agreement on semiconductor trade.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6272" NEWID="18520">
<DATE>18-JUN-1987 05:49:04.79</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2459&#31;reute
b f BC-BELGIUM-CUTS-TREASURY   06-18 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIUM CUTS TREASURY CERTIFICATE RATES</TITLE>
<DATELINE>    BRUSSELS, June 18 - </DATELINE><BODY>The Belgian National Bank said it cut
one, two, and three month treasury certificate rates, all by
0.10 points, effective immediately.
    The cuts take the one month rate to 6.75 pct, the two month
rate to 6.80 pct and the key three month rate to 6.85 pct, the
central bank said in a telex.
    A National Bank spokesman said the modest cut was made
after a decline in domestic money market rates yesterday, and
was not expected to be followed by a cut in the 7.60 pct
discount rate.
    The short-term treasury certificate rates, and especially
the three-month rate, have been the National Bank's main
monetary policy instrument for the last two years.
    The discount rate has been the market's penalty rate rather
than a guiding rate since 1985, and its advances are currently
little used as liquidity is ample, bank economists said.
    The bank last cut one- to three-month certificate rates on
June 5, also by 0.10 points.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6273" NEWID="18521">
<DATE>18-JUN-1987 05:50:22.53</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f2462&#31;reute
u f BC-ARAB-HEAVY-TERM-CRUDE   06-18 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>ARAB HEAVY TERM CRUDE SUPPLIES TO JAPAN UP IN JULY</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>&lt;Aramco Corp> has accepted Japanese
nominations to lift a higher proportion of Arab Heavy crude oil
under term contracts in July, oil industry sources said.
    Japanese companies requested a ratio of 80 pct Arab Heavy
to 20 pct Arab Light under a term contract agreement with
Aramco for 100,000 barrels per day, the sources said. The
contractual ratio is 30 pct heavy crude to 70 pct light.
    Japanese demand for heavy crude oil has increased
substantially since the All Japan Seaman's Union ceased sailing
into the northern Mideast gulf last month, causing problems
with liftings of heavy Kuwait and Khafji crudes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6274" NEWID="18522">
<DATE>18-JUN-1987 05:57:43.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f2478&#31;reute
u f BC-TEHRAN-WITHDRAWS-MORE   06-18 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>TEHRAN WITHDRAWS MORE DIPLOMATS FROM BRITAIN</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Tehran Radio said all but one Iranian
diplomat in London would return home within two weeks.
    The report, monitored by the British Broadcasting Corp,
followed an announcement by the Foreign Office in London that
Britain had withdrawn four of its six remaining diplomats in
Tehran.
    They were the latest moves in a diplomatic row between the
two countries that started with the arrest of an Iranian
consular official in England followed by the abduction of a
British envoy in Tehran, who was later freed.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6275" NEWID="18523">
<DATE>18-JUN-1987 05:58:11.02</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>indonesia</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f2480&#31;reute
u f BC-INDONESIA-CUTS-JULY-C   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA CUTS JULY CRUDE SUPPLIES TO JAPAN</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Indonesia's state oil company, Pertamina,
has informed its affiliated Japanese companies that crude oil
supplies will be 40 pct less than contractual volumes in July,
a spokesman for an affiliated company said.
    He said the allocations were in line with Indonesia's
production ceiling under its current OPEC quota, so they might
be increased if OPEC ratifies a production rise next week.
    Allocations of Indonesia's main traded crude, Minas, had
been cut by 50 pct and Duri by 38 pct, he said.
    Last month contractual volumes were cut by 30 pct.
    Contractual volumes assume no production ceiling.
    Oil traders said Indonesian grades were already trading
above their official selling prices (osp) on the spot market
due to strong demand from Japan and the U.S. And tight
supplies.
    A cargo of Duri loading in July was reportedly traded
yesterday at 70 cents over its osp of 15.60 dlrs per barrel and
Minas is trading about 20 cents higher, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6276" NEWID="18524">
<DATE>18-JUN-1987 05:59:34.48</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2482&#31;reute
f f BC-FRENCH-OFFICIAL-RESER   06-18 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH OFFICIAL RESERVES 420.50 BILLION FRANCS IN MAY VS
420.24 BILLION APRIL - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6277" NEWID="18525">
<DATE>18-JUN-1987 06:09:33.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>thailand</D><D>vietnam</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f2493&#31;reute
u f BC-VIETNAM-PARLIAMENT-FI   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>VIETNAM PARLIAMENT FIRES PRIME MINISTER, PRESIDENT</TITLE>
<DATELINE>    BANGKOK, June 18 - </DATELINE><BODY>Vietnam's parliament sacked Prime
Minister Pham Van Dong and President Truong Chinh, but the
choice of their successors indicated the influence of the old
guard may not be over, diplomatic sources said.
    Dong, prime minister for 32 years, left in fading health at
the age of 81. He is a popular hero of wars against France and
the United States and a staunch ally of the Soviet Union.
    Parliament replaced him with second-ranked politburo member
Pham Hung, 74, the Vietnam News Agency said. Hung headed the
Viet Cong guerrillas in the Vietnam War.
    Diplomats in Bangkok said Hung, not a noted supporter of
economic and political reforms, had been widely tipped for the
less important presidency.
    That post went instead to Vo Chi Cong, a technocrat who
ranks third in the politburo. Diplomatic sources said Cong was
more in tune with the national economic and political changes
being pushed by reformists who apparently had gained the upper
hand in the all-important politburo in December.
    Chinh, a hardline Marxist and a veteran of the wars against
France and the U.S., Was ousted at the age of 80. His political
stance had recently softened, the sources said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6278" NEWID="18526">
<DATE>18-JUN-1987 06:20:25.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2503&#31;reute
u f BC-MAZDA-SEES-50.8-PCT-D   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>MAZDA SEES 50.8 PCT DROP IN 1986/87 CURRENT PROFIT</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Mazda Motor Corp &lt;MAZT.T> predicted a
parent company current profit of 10 billion yen in the year
ending October 31, 1987, down 50.8 pct from a year earlier,
assuming a yen/dollar value at 147 yen, vice president
Yoshihiro Wada told a press conference.
    Sales in 1986/87 were estimated at 1,640 billion yen, up
0.9 pct from a year earlier.
    The company earlier posted a parent net profit of 1.59
billion in the first half ended April 30, down 76.9 pct from a
year earlier, on sales of 804.02 billion, down 4.2 pct.
    The fall was due to the yen rise against the dollar which
cut 55 billion yen off sales, Wada said. The average value of
the dollar was 155 yen in the period from 190 a year earlier.
    Mazda estimated vehicle exports at 1.12 mln, including kit
parts, in the year to October 31, up 6.8 pct from a year
earlier, and domestic sales at 360,000, up 0.8 pct, he said.
    Kit exports should rise because kits sold to Kia Motor Corp
&lt;KIAM.SE> unit &lt;Kia Industrial Corp>, which is eight pct owned
by Mazda, and to a Mexico unit of Ford Motor Co &lt;F> will rise
to 150,000 from 9,000, pushing kit exports up 45.3 pct to
260,000, he said.
    Mazda has yet to decide whether to pay an unchanged four
yen dividend for the second half, but it will pay an unchanged
3.50 yen for the first half, Wada said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6279" NEWID="18527">
<DATE>18-JUN-1987 06:24:11.74</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2511&#31;reute
b f BC-FRENCH-OFFICIAL-RESER   06-18 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH OFFICIAL RESERVES RISE IN MAY</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>French official reserves rose 258 mln
francs in May to 420.50 billion francs from 420.24 billion at
the end of April, the Finance Ministry said.
    The slight rise partly reflected the repayment last month
of France's outstanding 11.95 billion francs of debt owed to
the European Monetary Cooperation Fund (FECOM).
    It also reflected a negative 314 mln franc position with
France's Exchange Stabilisation Fund after intervention
purchases of 10.6 billion francs during May.
    Foreign currency holdings fell 7.28 billion francs to
124.58 billion while ECU holdings fell by 5.55 billion francs
to 58.52 billion due to the repayment of part of France's debt
owed to the FECOM and Stabilisation Fund operations, the
ministry said.
    Claims on the IMF rose 1.14 billion francs to 18.97
billion, including a 385 mln franc increase in France's reserve
position with the IMF and a 751 mln franc rise in holdings of
Special Drawing Rights.
    Gold holdings were unchanged at 218.46 billion francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6280" NEWID="18528">
<DATE>18-JUN-1987 06:26:14.44</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;f2515&#31;reute
u f BC-AIR-NEW-ZEALAND-WELCO   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>AIR NEW ZEALAND WELCOMES GOVERNMENT SHARE SALE</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>The New Zealand government's sale of
a 25 pct stake in Air New Zealand would release the airline
from the shackles of burdensome government processes, managing
director Norman Geary told reporters.
    Civil Aviation minister Richard Prebble said today the
government would sell 25 pct of the airline to the public.
    Geary said the company had proposed the sale in 1984.
    "With our company we believe there will be considerable New
Zealand interest (in the shares) and we would hope for a strong
private interest," he said.
    Geary said he was keen to see a large staff shareholding.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6281" NEWID="18529">
<DATE>18-JUN-1987 06:26:42.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>yugoslavia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2517&#31;reute
r f BC-YUGOSLAVIA-SIGNS-FOR   06-18 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>YUGOSLAVIA SIGNS FOR 550 MLN ECU LOAN</TITLE>
<DATELINE>    BELGRADE, June 18 - </DATELINE><BODY>Yugoslavia has signed up for a 550 mln
ECU loan from the European Community (EC), the  official Tanjug
news agency said.
    It said the agreement, which has yet to be ratified by the
12 EC countries and the European Parliament, was signed last
night in Brussels.
    The 20 year, 7.5 pct interest loan will be used to complete
the trans-Yugoslavia motorway and modernise the country's
railway network, the agency said.
    Yugoslavia's request for a 100 mln ECU grant was refused by
the EC, but will be discussed again, Tanjug added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6282" NEWID="18530">
<DATE>18-JUN-1987 06:28:07.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2520&#31;reute
u f BC-FRENCH-STATE-SELL-OFF   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH STATE SELL-OFFS RAISE 52 BILLION FRANCS</TITLE>
<DATELINE>    PARIS, June 17 - </DATELINE><BODY>The French government's privatisation
program, which began late last year, has earned the French
State about 52 billion francs to date, the Finance Ministry
said.
    Sources close to Finance Minister Edouard Balladur said the
revenues raised from the privatisation program would be used in
priority to pay off public debt, which stood at 398.2 billion
at the end of 1986.
    The Ministry said in a communique that the returns included
banking group Societe Generale &lt;SGEN.PA>, which began its
two-week public flotation last Monday.
    The government has carried out eight flotations, as well as
the private sale of telephone group &lt;Cie Generale de
Constructions Telephoniques> (CGCT) since its denationalisation
scheme began last December with the sell-off of glass makers
Saint-Gobain &lt;SGEP.PA>, it added.
    The government has pledged to privatise 66 state-owned
industrial, banking and insurance companies by 1991.
    Other companies to be sold to the private sector in the
near future are television network TF-1 later this month and
banking group Cie Financiere de Suez &lt;FSPP.PA> in the autumn.
    The ministry said TF-1's forthcoming sell-off meant that a
third of the government's programme would have been completed
in less than nine months.
    Balladur on Sunday rejected press and opposition charges
that the share prices for privatised companies had been pitched
too low.
    He said that the average premium of shares trading on the
Bourse was between 15 and 30 pct over their offer price. This
compared with premiums of between 60 and 80 pct on similar
share flotations in Britain.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6283" NEWID="18531">
<DATE>18-JUN-1987 06:29:42.66</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>fiji</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T 
&#22;&#22;&#1;f2521&#31;reute
u f BC-FIJI-MAKES-SUGAR-PAYM   06-18 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>FIJI MAKES SUGAR PAYMENT TO GET HARVEST STARTED</TITLE>
<DATELINE>    SUVA, June 18 - </DATELINE><BODY>Fiji sugar farmers will receive an interim
payment on the 1986 crop, four months ahead of schedule, in a
move aimed at getting harvesting of the drought-hit 1987 crop
under way, Governor-general Ratu Sir Penaia Ganilau said.
    Industry sources said latest forecasts for the 1987 crop
indicated output of 360,000 tonnes, well down on the record
501,800 tonne tel quel production in the 1986 (May-December)
crop year.
    The previous record was set in 1982 when Fiji produced
486,790 tonnes.
    For the past month Fiji sugar farmers have delayed
harvesting the 1987 crop pending a response from the
Governor-general to demands following the May 14 coup.
    Ganilau said in a statement the Fiji Sugar Corp would make
a payment of five dlrs per tonne against the final payment for
the 1986 crop on the understanding that preparations by growers
for commencement of harvesting would be completed at all mills
by June 23.
    Crushing would commence at Labasa and Penang mills on June
23 and at Lautoka and Rarawai mills on June 30, he said.
    The interim payment, to be made on or about June 30, is the
full amount of the grower's share of 1986 sugar proceeds
received to-date. The balance will be paid in October.
    Growers had also called for the full 1987 forecast price of
23.50 dlrs per tonne of cane to be paid in cash on delivery to
the mill, but this has been rejected by the state controlled
Fiji Sugar Corp, Ganilau said.
    However, in addition to the scheduled delivery payment of
14.10 dlrs, an additional sum of 2.35 dlrs, or 10 pct of the
forecast price, would be paid on December 15, on all cane
harvested by November 30, he said.
    Ganilau said, "This will be at least one month in advance of
the expected date of payment of the second payment of cane. The
balance of the second payment will be made six weeks after the
end of crushing."
    Another demand of Fiji's 22,000 small farmers was that an
estimated 14 mln dlr loan from the Fiji Development Bank (FDB)
for the 1983 cane crop rehabilitation programme be written off.
The FDB rejected this request.
    Ganilau said, however, "The bank is prepared to carefully
consider requests for rescheduling loan repayments in cases of
hardship on a case-by-case basis."
    In response to a further demand that all soldiers be
removed from the cane growing areas, Ganilau said the army
would restrict its presence in the cane areas.
    He said he had directed the authorities to issue permits to
harvesting gangs, cane growers and sugar industry trade unions
to hold the necessary meetings in preparation for the
commencement of harvest.
    Senior representatives of the sugar cane growers had
indicated a desire to commence the crush as soon as possible,
he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6284" NEWID="18532">
<DATE>18-JUN-1987 06:30:06.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI 
&#22;&#22;&#1;f2523&#31;reute
u f BC-JAPAN-INSTITUTIONS-EY   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN INSTITUTIONS EYEING T-BOND INVESTMENT WARILY</TITLE>
<AUTHOR>    By Ayumu Murano, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Some major Japanese institutional
investors are gradually returning to investing in U.S.
Treasuries, although fear that the dollar has not yet bottomed
out has kept others cautiously waiting on the sidelines.
    Trust banks and some investment trusts are starting to look
at buying treasuries for short-term gains, while other
investment trusts and most life insurers are still wary,
according to fund managers polled by Reuters.
    The five percentage point gap between U.S. And Japanese
long-term bonds is the major attraction of T-bonds.
    Most institutions remain sensitive to the prospects of
dollar declines, after making huge foreign exchange losses on
their foreign bond holdings last fiscal year ended March.
    The seven leading local life insurers alone saw losses on
their foreign bond holdings of over 1,700 billion yen, or some
11.5 billion dlrs, in 1986/87, industry sources said.
    However, most institutional investors want to buy U.S.
T-bonds due to the absence of profitable domestic instruments.
    "Despite all the negative factors, we have definite demand
for U.S. Securities," said Osamu Fukushima, deputy manager of
Mitsui Trust and Banking Co Ltd's securities department.
    Another trust bank fund manager said, "What matters the most
are the fundamentals of the U.S. Economy and the
competitiveness of U.S. Industry. We are closely watching the
growth of U.S. Exports, which is an important measure of the
fundamental strength of the dollar." The U.S. Trade deficit's
decline in April was due to a 1.2 billion dlr decline in
imports, while exports did not show a recovery, he said.
    One life insurance company fund manager said, "We doubt the
U.S. Government will fight the trade and fiscal deficits,
especially after the announcement of Federal Reserve Board
chairman Paul Volcker's resignation."
    "The receptive stance of the U.S. Congress on the call for
further dollar falls to cut the country's trade deficit also
makes us wary about U.S. Bonds purchases," the life insurance
company fund manager said.
    Yuji Miyaji, deputy manager of the Sumitomo Trust and
Banking Co Ltd's securities investment department, said, "We are
slowly starting to buy U.S. Bonds because the gap of over 500
basis points between the U.S. And Japan is very attractive
However, we are pessimistic on the dollar's further recovery.
We find that U.S. Economic fundamentals have not changed so
far."
    Keijirou Fukushima, manager at Yamaichi Investment Trust
Management Co Ltd's bond portfolio management department, said,
"We would like to invest in U.S. Bonds gradually, given an
improved inflation outlook and the limited chances of a further
steep fall in the dollar from now."
    "We have already reduced forward dollar selling volume to 40
pct of our total foreign assets from 60 pct," he said.
    Another life insurance company fund manager said, "We have
started investing in U.S. Treasury securities, but only on a
trading basis."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6285" NEWID="18533">
<DATE>18-JUN-1987 06:30:08.69</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2524&#31;reute
f f BC-UK-MAY-ADJUSTED-UNEMP   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UK MAY ADJUSTED UNEMPLOYMENT FALLS RECORD 64,300 TO 2.95
MLN OR 10.6 PCT - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6286" NEWID="18534">
<DATE>18-JUN-1987 06:30:10.80</DATE>
<TOPICS><D>income</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2525&#31;reute
f f BC-UK-AVERAGE-EARNINGS-R   06-18 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UK AVERAGE EARNINGS ROSE 6.5 PCT IN YEAR TO APRIL,
UNDERLYING RISE 7.75 PCT - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6287" NEWID="18535">
<DATE>18-JUN-1987 06:30:29.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2527&#31;reute
f f BC-U.K.-MANUFACTURING-WA   06-18 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.K. MANUFACTURING WAGE COSTS RISE 1.0 PCT IN YEAR TO
APRIL (MARCH 0.7 PCT RISE) - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6288" NEWID="18536">
<DATE>18-JUN-1987 06:31:21.77</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;f2529&#31;reute
f f BC-U.K.-APRIL-INDUSTRIAL   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.K. APRIL INDUSTRIAL OUTPUT RISES 0.3 PCT, MANUFACTURING
UP 0.55 PCT - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6289" NEWID="18537">
<DATE>18-JUN-1987 06:31:42.45</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2530&#31;reute
f f BC-U.K.-MAY-ADJUSTED-M3   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.K. MAY ADJUSTED M3 RISES PROVISIONAL 2.1 PCT, M0 UP 0.5
PCT - BANK OF ENGLAND
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6290" NEWID="18538">
<DATE>18-JUN-1987 06:32:07.69</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2532&#31;reute
f f BC-MAY-AJUSTED-STERLING   06-18 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MAY AJUSTED STERLING BANK LENDING UP 2.7 BILLION STG
AFTER 1.5 BILLION IN APRIL - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6291" NEWID="18539">
<DATE>18-JUN-1987 06:33:36.32</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2535&#31;reute
b f BC-U.K.-UNEMPLOYMENT-FAL   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. UNEMPLOYMENT FALLS BELOW THREE MLN IN MAY</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>U.K. Unemployment fell a record
provisional, seasonally-adjusted 64,300 in May to a total 2.95
mln or 10.6 pct of the workforce, the Employment Department
said.
    In April, seasonally-adjusted unemployment fell by an
upwardly revised 21,600 to 3.02 mln or 10.9 pct, it said.
    The unadjusted jobless total in May, including school
leavers, alos fell a record 121,000 to 2.99 mln or 10.8 pct
from April's 3.11 mln, 11.2 pct.
    May was the eleventh successive decline from a peak last
summer of 11.6 pct, the Employment Department said.
    "Unemployment has fallen to under three mln for the first
time in over three years. The May fall of 64,000 was the
largest drop since records were first kept (in 1948),"
Employment Minister Norman Fowler said.
    All regions have seen above average falls in long term
unemployment during the past year, he added.
    The last time the adjusted total of unemployed was below
three mln was July 1984, while the unadjusted total was last
below this level in June 1983.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6292" NEWID="18540">
<DATE>18-JUN-1987 06:35:39.08</DATE>
<TOPICS><D>income</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2537&#31;reute
b f BC-U.K.-EARNINGS-UP-UNDE   06-18 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. EARNINGS UP UNDERLYING 7.75 PCT IN APRIL</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>U.K. Average earnings rose a seasonally
adjusted 6.5 pct in the year to end-April, after increasing by
6.7 pct annually in March, the Employment Department said.
    The April index, base 1980, was set at a provisional,
seasonally-adjusted 197.3, up from 194.8 in March.
    But the underlying rise was 7.75 pct, up 0.25 pct from
March and back to the same level seen late last year.
    The underlying rise is adjusted for factors such as
back-pay and timing variations.
    Unit wage costs in U.K. Manufacturing industry rose one pct
in the year to April, after an upward revised rise of 0.7 pct
in the period to March, the Department of Employment added.
    In the three months to end-April, such costs were 0.9 pct
higher, year-on-year, compared with a rise of 1.2 pct in the
three months to March.
    Manufacturing productivity in April was 6.1 pct higher than
a year ago after a downward revised 6.8 pct increase in March.
In the last three months period manufacturing productivity was
up 6.7 pct, having increased 6.5 pct in the first quarter.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6293" NEWID="18541">
<DATE>18-JUN-1987 06:37:59.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2541&#31;reute
b f BC-U.K.-CLEARING-BANK-LE   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. CLEARING BANK LENDING RISES SHARPLY IN MAY</TITLE>
<DATELINE>    LONDON, May 18 - </DATELINE><BODY>Clearing bank sterling lending to the
private sector in May is estimated to have risen by an
underlying, seasonally adjusted 3.5 billion stg compared with
1.3 billion stg in April and a recent monthly average of 1.4
billion, the Banking Information Service said.
    The unadjusted rise was 2.77 billion stg, up from 844 mln
in April.
    The May surge in borrowing from the clearing banks was
prompted by the fall in base rates, which reached nine pct on
May 11, the Banking Information Service said. Borrowing through
bill finance and other sources shrank.
    The increase in lending in May was seen in most categories,
the Banking Information Service said.
    In the personal sector, on an unadjusted basis, mortgage
lending rose 544 mln stg compared with 471 mln in April.
General consumption went up 399 mln against 355 mln, though
credit card debt rose only 55 mln compared with 161 mln.
    Financial sector borrowing was up 734 mln stg in May
compared with a net repayment of 60 mln the previous month.
    Unadjusted private sector deposits increased by 2.37
billion stg against 1.16 billion. Sterling attracted an extra
955 mln stg in deposits from abroad after little change in
April.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6294" NEWID="18542">
<DATE>18-JUN-1987 06:41:49.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2550&#31;reute
u f BC-INVESTIGATORS-SAY-AIR   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTIGATORS SAY AIR LANKA LOSSES DEVASTATING</TITLE>
<AUTHOR>    By Marilyn Odchimar, Reuters</AUTHOR>
<DATELINE>    COLOMBO, June 18 - </DATELINE><BODY>A commission set up to unravel the
affairs of debt-ridden Air Lanka says the airline amassed
losses of up to 265 mln U.S. Dlrs in "the most devastating
financial tragedy" in Sri Lankan commercial history.
    The commission, which scrutinised financial dealings from
aircraft acquisitions to give-away cookbooks, blamed the
airline's previous board for the losses. The panel, appointed
in August by President Junius Jayewardene, submitted its report
to him on April 20. A copy was obtained by Reuters. The report
will be made available to the public by next week.
    The three-man commission recommended its findings be passed
to state law officers to decide whether penal action was
necessary against any members of the former board or Air
Lanka's management. The airline comes under the Defence
Ministry, a portfolio held by Jayewardene himself.
    The commission said Air Lanka's reports to Jayewardene
"blurred" its true financial health. It said the airline had
irretrievably lost its share capital of 3.8 billion rupees.
    To finance deficits, it had also used up a treasury loan of
800 mln rupees and part of foreign currency loans obtained for
aircraft purchases and infrastructure needs, it said.
    "Air Lanka is thus indebted to overseas lenders to the value
of one billion rupees without any productive assets or
collateral to provide for its repayment," the commission said.
    It said the airline's losses were assessed at 5.59 billion
rupees at March 31, 1986. But cumulative losses would reach 7.7
billion, implying Air Lanka lost money at the rate of 1.3
billion rupees a year between 1979, when it started, and 1986.
    "These results must rank as the most devastating financial
tragedy ever suffered in Sri Lanka's commercial history," the
commission said.
    The report said the airline's dangerously critical
financial condition was due to uncontrolled spending --
particularly the way in which the airline expanded its fleet --
poor marketing, and extreme laxity in cost controls.
    "It is clear to us that Air Lanka's misfortunes are largely
of its own creation and that the reponsibility must rest
primarily with the board of directors," it said.
    Air Lanka had blamed its problems on the effects on tourism
of Sri Lanka's Tamil separatist rebellion, the depreciating
rupee and under-capitalisation. The commission dismissed these
as invalid.
    The report said most of the major problems stemmed from
concentration of power by Captain S.R. Wikramanayake who held
the posts of both chairman and managing director.
    "It is mainly he who has to be responsible for whatever the
status of Air Lanka is in today," it said.
    Wikramanayake resigned with the other board members last
November. He could not be contacted for comment.
    The commission recommended that its findings should be
passed "to the law officers of the state ... To ascertain if
penal action is necessary against any or all members of the
former board of Air Lanka or its management staff."
    The panel recommended equity involvement of one or more
foreign airlines in Air Lanka and the granting of maximum
concessions to make the carrier attractive to foreign and local
investment. It also suggested selling assets, such as two
Boeing 747s financed by U.S. Dollar loans, to reduce debt.
    It said Air Lanka and the government should renegotiate
U.S. Dollar-denominated debts into other currencies which form
the core of earnings and obtain lower interest rates. It also
proposed negotiations for the return of two Lockheed Tristar
L1011-500s now leased to British Airways before the leases
expire next March.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6295" NEWID="18543">
<DATE>18-JUN-1987 06:42:19.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2553&#31;reute
r f BC-ZURICH-FAVOURS-TIGHT   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ZURICH FAVOURS TIGHT "MONEY LAUNDERING" LAW</TITLE>
<DATELINE>    ZURICH, June 18 - </DATELINE><BODY>The cantonal government of Zurich wants a
proposed federal law making "money laundering" an offence to
punish negligence and not just gross negligence, the cantonal
information service said.
    The Zurich authorities said they supported proposals
unveiled by the federal government in February to make it a
crime for anyone to conceal the origin of money which they have
reason to believe was obtained by criminal means.
    But they argued in a submission on the proposals that the
duty of care imposed on financial institutions should make them
liable for any negligence.
    The federal government's proposals, which are being
circulated for comment before a formal bill is put before
parliament, would make only gross negligence an offence.
    The new legislation, which is aimed mainly at combatting
organised crime, is likely to take effect in the early 1990s.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6296" NEWID="18544">
<DATE>18-JUN-1987 06:45:35.96</DATE>
<TOPICS><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G 
&#22;&#22;&#1;f2563&#31;reute
u f BC-TAIWAN-TO-REOPEN-TEND   06-18 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN TO REOPEN TENDER FOR U.S. SOYBEANS</TITLE>
<DATELINE>    TAIPEI, June 18 - </DATELINE><BODY>The joint committee of Taiwan's soybean
importers will reopen a tender tomorrow for two shipments of
54,000 to 66,000 tonnes of U.S. Soybeans, a committee spokesman
told Reuters.
     The committee rejected a tender today for a cargo of
27,000 to 33,000 tonnes on the grounds the prices offered by
the U.S. Suppliers were too high, he said.
    The committee will be seeking a further shipment of between
27,000 and 33,000 tonnes when it reopens the tender tomorrow,
he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6297" NEWID="18545">
<DATE>18-JUN-1987 06:52:00.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2571&#31;reute
u f BC-AMRO-LINES-UP-FIRST-G   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>AMRO LINES UP FIRST GUILDER MULTI-OPTION FACILITY</TITLE>
<DATELINE>    AMSTERDAM, June 18 - </DATELINE><BODY>Amro Bank said it is arranging the
first guilder multi-option facility for Greenland NV in a loan
package of up to 300 mln guilders.
    The package consists of a 150 mln guilder, five year
multi-option facility with a tender panel facility for short
term advances and a back stop by the syndicate at 0.5 pct above
the London Inter Bank Offered Rate (LIBOR)
    There is also a 150 mln guilder, seven year multi-currency
term facility at LIBOR plus 0.375 pct for the first three
years, at LIBOR plus 0.5 pct for the fourth and fifth year, and
at LIBOR plus 0.625 pct for the remaining two years.
    Greenland has an option to fix the second facility.
    Both facilities have a commitment fee of 0.125 pct.
    Greenland NV, a producer of agricultural machines, is a
subsidiary of the Thyssen-Bornemisza Group. The firm will be
floated on the Amsterdam and Toronto stock exchanges in the
second half of July.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6298" NEWID="18546">
<DATE>18-JUN-1987 06:54:48.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2577&#31;reute
u f BC-HONDA-EXPORTS-FALL-IN   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>HONDA EXPORTS FALL IN MAY</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Honda Motor Co Ltd &lt;HMC.T> said its
vehicle exports in May fell 11.4 pct from a year earlier to
54,982.
    Honda shipped 34,701 vehicles to the U.S. In May, up 4.4
pct from a year earlier, but total shipments to North America
fell 8.3 pct to 39,009, due to increased assembly there, a
company spokeswoman said.
    Exports to Europe fell 24.8 pct to 12,821, she added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6299" NEWID="18547">
<DATE>18-JUN-1987 07:01:26.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2583&#31;reute
u f BC-ATT/PHILIPS-VENTURE-G   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>ATT/PHILIPS VENTURE GETS SPANISH GOVT APPROVAL</TITLE>
<DATELINE>    HILVERSUM, Netherlands, June 18 - </DATELINE><BODY>ATT/Philips (APT), the
joint venture between American Telephone and Telegraph Co &lt;T>
of the U.S. And N.V. Philips Gloeilampenfabrieken &lt;PGLO.AS>,
said the Spanish government had approved its setting up of a
joint venture in Spain. The government had also awarded it an
order for the state-controlled Compania Telefonica Nacional de
Espana &lt;TELF.MA> (Telefonica), APT said.
    APT will take a majority stake in a new company to be
formed with the Spanish firm &lt;Amper> which will make
transmission equipment for Telefonica.
    The order is expected to be worth some 30 mln dlrs per
year.
    Further negotiations with Telefonica have yet to be
concluded, however, an APT spokesman said.
    For Philips, the order is an important first step into the
Spanish market, a company spokesman said.
   REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6300" NEWID="18548">
<DATE>18-JUN-1987 07:03:04.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F 
&#22;&#22;&#1;f2591&#31;reute
u f BC-BANKAMERICA-ASKS-JAPA   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKAMERICA ASKS JAPAN BANKS TO BUY SECURITIES</TITLE>
<AUTHOR>    By Kunio Inoue, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>BankAmerica Corp &lt;BAC> asked Japanese
commercial banks today to buy 350 mln dlrs in subordinated
capital notes and preferred stock that it plans to issue to
boost its equity base, a company spokesman said.
    BankAmerica vice chairman Frank N. Newman held a meeting
here today to outline its fund-raising plan to some 20 Japanese
banks, he told Reuters.
    He also stressed the company's efforts to streamline
operations, by withdrawing from unprofitable energy-related
areas to concentrate more on its Californian home base.
    But Newman said the company had no intention of selling its
 Seafirst Corp Subsidiary in Washington.
    A document obtained by Reuters shows the fund-raising
effort involves 250 mln dlrs in 12-year subordinated capital
notes and 100 mln in convertible preferred stock.
    It has made a shelf registration with the SEC so that it
can issue debt securities whenever market conditions are
favorable.
    The company already raised 100 mln dlrs in the U.S. Market
last month, he added.
    According to the document, the 250 mln dlrs in subordinated
capital notes will carry an interest rate of 100 basis points
over the three-month London Interbank Offered Rate (LIBOR). The
minimum rate will be six pct and the maxiumum 12 pct.
    The notes will be redeemable at par after four years and
will also have warrants attached to purchase the firm's common
stock at 17.50 dlrs. There will be 7.5 mln warrants in all,
with a term of 10 years.
    The planned convertible preferred stock will carry a
dividend rate equivalent to three months LIBOR plus an as yet
undecided premium, the document said. There will be no sinking
fund for the preferred stock, which will have 10-year warrants
attached to buy BankAmerica common stock.
    The rest of the details of the preferred stock issue have
yet to be worked out.
    On both the preferred stock and note issues, BankAmerica
said that a fixed rate alternative was possible.
    The document said that BankAmerica was also open to raising
funds in yen, if that was desirable for the Japanese.
    Those present at the meeting today were working-level
officials from 13 city, three long-term credit and seven trust
banks, Japanese banking sources said.
    Newman expressed hope that certain banks would act as lead
managers of the projected debt securities but did not name
specific banks, the sources said. No bank made any commitment
to the company's fund-raising plan as most knew little about it
in advance, they said.
    "Today's meeting itself was held with very short-notice and
we just can't decide what to do with it," said a senior official
at a leading city bank.
    Newman attempted to quell Japanese bankers' fears that the
U.S. Federal Reserve may insist that they deduct the equivalent
amount to the securities purchased  from their primary capital,
under a regulation now being studied by the U.S. And Britain.
    Newman told them that they should not worry because he
understood the U.S. Federal Reserve would not go along with
such a regulation, the official said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6301" NEWID="18549">
<DATE>18-JUN-1987 07:08:06.99</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2602&#31;reute
r f BC-CITIBANK-LOWERS-AUSTR   06-18 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>CITIBANK LOWERS AUSTRALIAN PRIME RATE TO 16 PCT</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>Citibank Ltd said it would lower its
Australian prime rate to 16 pct from 16.5, effective tomorrow.
    The new rate, if unmatched by other banks, will be the
lowest among Australian trading banks. Other primes range from
16.25 to 17.5 pct.
    Australian prime rates have now retreated from a recent
peak of 19 pct in October in line with declining money market
levels. Citibank said its reduction reflected the decline.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6302" NEWID="18550">
<DATE>18-JUN-1987 07:10:14.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2606&#31;reute
u f BC-MAZDA-EXPORTS-FALL-IN   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>MAZDA EXPORTS FALL IN MAY</TITLE>
<DATELINE>    TOKYO, June 18 - </DATELINE><BODY>Mazda Motor Corp &lt;MAZT.T> said its vehicle
exports fell 2.2 pct from a year earlier to 69,191 in May.
    In May, exports included 50,800 cars, down 4.8 pct from a
year earlier, and 18,391 commercial vehicles, up six pct, the
company said.
    Mazda's exports to the U.S. Fell 7.8 pct to 35,401 and
those to Europe fell 2.6 pct to 20,809.
    Exports to South East Asia rose 142.4 pct to 6,564 due to
higher exports of complete kits to &lt;Kia Industrial Corp>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6303" NEWID="18551">
<DATE>18-JUN-1987 07:11:46.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2613&#31;reute
r f BC-J.-HARDIE-SAYS-HIGHER   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>J. HARDIE SAYS HIGHER NET REFLECTS RATIONALISATION</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>James Hardie Industries Ltd &lt;HAHA.S> said
the 28 pct increase in its 1986/87 net profit reflected the
benefits of continuing rationalisation and consolidation of
Australian activities and expansion in the U.S.
    The diversified building products group reported net
earnings rose to 60.58 mln dlrs in the year ended March 31 from
47.42 mln in 1985/86. It lifted annual dividend to 24 cents
from 22 with a final of 13, against 11 previously.
    Hardie had concentrated resources on building up its core
businesses of building products, paper merchanting and
technology and services, it said in a statement.
    Hardie said it sold a number of businesses during the year
which were unable to meet objectives for return on investment
or market share and some non-core units.
    This resulted in a decline in sales to 1.50 billion dlrs
from 1.56 billion, but also contributed to a fall of about 100
mln dlrs in borrowings by year-end and a 36 pct drop in
interest expense to 29.16 mln dlrs, it said.
    Hardie said a 42 pct jump in second-half net earnings to
29.66 mln dlrs from 20.92 mln a year earlier was particularly
pleasing in view of the difficult trading conditions faced by
the building products businesses in Australia.
    The problems in U.S. Irrigation operations which adversely
affected 1985/86 earnings have been overcome, Hardie said.
    It said the process of rationalisation and consolidation
had continued into the current year as had expansion into the
U.S.
    Hardie said it could now look forward to a period of
development and further growth in Australia and overseas after
carrying through a long and expensive process of eliminating
asbestos, the group's original prime raw material, from its
fibre cement building products over the past eight years.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6304" NEWID="18552">
<DATE>18-JUN-1987 07:13:42.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2621&#31;reute
u f BC-1988-FRENCH-MINISTERI   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>1988 FRENCH MINISTERIAL BUDGETS FROZEN - SOURCES</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>Average spending by French ministries will
be virtually frozen next year within the framework of a one pct
real increase in the overall state budget, sources close to
French Finance Minister Edouard Balladur said.
    The sources said priority would be given to defence,
research and the fight against unemployment, which reached 2.66
mln people in April.
    Prime Minister Jacques Chirac yesterday chaired a
ministerial meeting on the budget and Balladur is due to make
the final decision at the end of the month.
    Budget Minister Alain Juppe said yesterday that the
government was on course to achieve its target of tax cuts
worth 50 billion francs over two years.
    Juppe gave no details but pledged that the government also
planned to cut its budget deficit down to 115 billion francs by
1988 from the 129 billion franc shortfall forecast for 1987.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6305" NEWID="18553">
<DATE>18-JUN-1987 07:16:50.44</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;f2627&#31;reute
u f BC-BRITAIN-PULLS-OUT-MOR   06-18 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITAIN PULLS OUT MORE DIPLOMATS FROM IRAN</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Britain withdrew four more diplomats from
its diplomatic mission in Tehran, leaving only two officials in
their posts.
    The Foreign Office said the four had left Tehran earlier
today and would arrive in London tomorrow.
    Britain and Iran have been embroiled in a three-week-old
diplomatic row which began when a British diplomat was beaten
and abducted for 24 hours in the Iranian capital.-
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6306" NEWID="18554">
<DATE>18-JUN-1987 07:18:27.45</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V 
&#22;&#22;&#1;f2631&#31;reute
b f BC-U.S.-SENATORS-PROPOSE   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATORS PROPOSE BAN ON TOSHIBA IMPORTS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Three U.S. Senators said they will
propose a temporary ban on imports of all Toshiba products due
to the company's illegal sales of sensitive high-technology
goods to the Soviet Union.
    Senator Jake Garn, John Heinz and Richard Selby said at a
hearing of the senate banking committee on export control, they
will offer the proposal as part of a major trade bill when it
is brought before the senate this summer.
    Garn, a Utah Republican, said "I am talking about specific
retribution on a company that endangers the security of their
own country and ours."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6307" NEWID="18555">
<DATE>18-JUN-1987 07:18:53.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>chile</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2632&#31;reute
r f BC-CHILE-SIGNS-DEBT-RESC   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CHILE SIGNS DEBT RESCHEDULING AGREEMENT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Representatives of the Republic of
Chile and its 400-plus international bank creditors started
signing agreements to reschedule 10.6 billion dlrs of the
country's foreign debt, Manufacturers Hanover Trust Co said.
    Manufacturers Hanover, which chairs a 12-bank advisory
committee that agreed the terms of the deal in late February,
said all of Chile's creditor banks have approved the package.
    A key feature of the rescheduling agreement is that Chile
will avoid the need for fresh bank loans this year and next by
making interest payments to the banks every twelve months
instead of every six months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6308" NEWID="18556">
<DATE>18-JUN-1987 07:19:08.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V 
&#22;&#22;&#1;f2633&#31;reute
b f BC-U.S-TREASURY-SELLING   06-18 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S TREASURY SELLING 24.25 BILLION DLRS OF NOTES</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The U.S. Treasury said it will
auction 24.25 billion dlrs of two, four and seven year notes
next week to raise a total of 8.325 billion dlrs of new cash.
    The financing will begin with the monthly auction on
Tuesday, June 23 of 9.75 billion dlrs of two year notes.
    That will be followed on Wednesday and Thursday by
respective quarterly sales of 7.5 billion dlrs of four year
notes and 7.0 billion dlrs of seven year notes to refund 15.93
billion dlrs of two year and four year notes maturing June 30.
The two year notes mature June 30, 1989. The four years mature
June 30, 1991 with the seven years due July 15, 1994.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6309" NEWID="18557">
<DATE>18-JUN-1987 07:19:37.22</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T 
&#22;&#22;&#1;f2634&#31;reute
b f BC-FOUR-SUGAR-CARGOES-SO   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>FOUR SUGAR CARGOES SOLD TO CHINA YESTERDAY -TRADE</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Four cargoes of raw sugar were sold to
China yesterday via the London trade to supplement the
country's current nearby buying programme, traders said.
    The sugar was reported sold at around 160 dlrs a tonne c
and f for July/August shipment or arrival in September, they
said.
    Some traders said recent Chinese purchases could total as
much as 300,000 tonnes, but others, while agreeing a heavy
volume had been taken, said an amount less than that figure was
involved.
    China was still believed to be in the market for more
sugar, traders said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6310" NEWID="18558">
<DATE>18-JUN-1987 07:24:30.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2645&#31;reute
r f BC-TNP-ENTERPRISES-&lt;TNP>   06-18 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>TNP ENTERPRISES &lt;TNP> UNIT TO SELL BONDS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Texas-New Mexico Power Co, a unit of
TNP Enterprises Inc, said it filed with the Securities and
Exchange Commission a registration statement covering 65 mln
dlr issue of first mortgage bonds.
    Proceeds will be used to repay short-term debt and for
other general purposes, the company said.
    It said the bonds would probably be offered through
Shearson Lehman Brothers Inc and Salomon Brothers Inc.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6311" NEWID="18559">
<DATE>18-JUN-1987 07:25:56.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2650&#31;reute
r f BC-REPUBLIC-NEW-YORK-&lt;RN   06-18 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>REPUBLIC NEW YORK &lt;RNB> ADDS TO LOAN-LOSS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Republic New York Corp said it would
add 100 mln dlrs to its allowances for loan losses specifically
related to its loan exposure to Latin American customers.
    Republic New York estimated its second quarter net loss
would total about 80 mln dlrs as a result.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6312" NEWID="18560">
<DATE>18-JUN-1987 07:26:21.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2652&#31;reute
r f BC-REPUBLIC-NEW-YORK-&lt;RN   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>REPUBLIC NEW YORK &lt;RNB> AFFIRMED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
affirmed the ratings on 2.2 billion dlrs of debt of Republic
New York Corp.
    The agency said Republic's 100 mln dlr provision to its
loan loss reserve adjusts the institution's financial statement
to more accurately reflect economic reality.
    Affirmed were Republic's Aa-3 senior debt, A-1 subordinated
debt and preferred stock, Provisional Aa-3 senior debt shelf
and Provisional A-1 subordinated debt shelf. Also affirmed were
lead bank Republic National's Aa-1 long-term deposit
obligations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6313" NEWID="18561">
<DATE>18-JUN-1987 07:26:51.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2654&#31;reute
r f BC-USX-&lt;X>-OFFERS-CONVER   06-18 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> OFFERS CONVERTIBLE PREFERRED</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>USX Corp announced a public offering
of 250 mln dlrs of convertible exchangeable cumulative
preference stock underwritten by Morgan Stanley and Co Inc and
FIrst Boston Corp.
    USX said the proceeds will be used to redeem its currently
outstanding 2.25 dlrs convertible exchangeable cumulative
preference stock.
    USX said the new stock will be offered at 50 dlrs a share
and will have a dividend of 3.50 dlrs a share per year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6314" NEWID="18562">
<DATE>18-JUN-1987 07:27:14.56</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;f2655&#31;reute
r f BC-DAIRY-FARM-SUSPENDS-S   06-18 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIRY FARM SUSPENDS SHARE TRADING IN HONG KONG</TITLE>
<DATELINE>    HONG KONG, June 18 - </DATELINE><BODY>Trading in shares of &lt;Dairy Farm
International Holdings Ltd> was suspended after the morning
session, the stock exchange said.
    It gave no explanation of the move but the company
announced it will hold a press conference on a major corporate
development this afternoon.
    The stock last traded at 5.40 H.K. Dlrs, down 10 cents from
yesterday's close.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6315" NEWID="18563">
<DATE>18-JUN-1987 07:27:20.47</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;f2656&#31;reute
r f BC-JAMES-HARDIE-INDUSTRI   06-18 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>JAMES HARDIE INDUSTRIES LTD &lt;HAHA.S> YR TO MARCH</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>Yr ended March 31
    Shr 37.8 cents vs 30.7
    Final div 13 cents vs 11, making yr 24 vs 22
    Net 60.58 mln dlrs vs 47.42 mln
    Turnover 1.50 billion vs 1.56 billion
    Other income 16.84 mln vs 3.73 mln
    Shrs 161.71 mln vs 154.19 mln.
    NOTE - Div pay Aug 6. Reg July 17. Div is unfranked and
thus will not be tax-free under dividend imputation.
    Net is after tax 28.39 mln dlrs vs 29.93 mln, depreciation
32.05 mln vs 34.59 mln, interest 29.16 mln vs 45.74 mln and
minorities 1.35 mln vs 9.89 mln but before extraordinary profit
2.28 mln vs loss 31.05 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6316" NEWID="18564">
<DATE>18-JUN-1987 07:27:44.12</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2658&#31;reute
r f BC-COMMONWEALTH-BANK-CUT   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH BANK CUTS AUSTRALIAN SPLIT PRIME</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>The Commonwealth Bank of Australia said
it will lower its reference rate for loans to 15.75 pct from
16.25 pct and its overdraft reference rate to 16.25 pct from
16.75, effective June 24.
    Bank officials have said the bank regards the overdraft
reference rate, based on short-term rate trends, as its key
prime lending rate to corporate customers. The loan reference
rate is based on longer term trends.
    The bank is the latest to cut prime rates in recent days
following a continuing decline in market rates. Other prime
rates now range from 16 pct to 17.5 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6317" NEWID="18565">
<DATE>18-JUN-1987 07:28:42.73</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G T 
&#22;&#22;&#1;f2661&#31;reute
u f BC-DUTCH-PARLIAMENT-BACK   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH PARLIAMENT BACKS STAND AGAINST OILS TAX</TITLE>
<DATELINE>    ROTTERDAM, June 18 - </DATELINE><BODY>Dutch parliamentary parties have
re-affirmed their support for the government's opposition to
the proposed European Community tax on oils and fats,
parliamentarians said.
    A broad cross-section of members of parliament voiced their
opposition to the tax during a debate in the lower house
yesterday on the basis of possible retaliation from the U.S.
And on the potentially damaging effect on Third World
countries.
    State Secretary for Foreign Affairs Rene Van Der Linden
said the government was against the tax although it noted
deepening EC financial difficulties.
    "It is difficult to be against the tax and against extra
finance. The EC members have to make a choice," Van Der Linden
said.
    However, he denied the government had dropped its
opposition to the proposed tax or altered its position.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6318" NEWID="18566">
<DATE>18-JUN-1987 07:31:09.04</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;f2665&#31;reute
r f BC-CSR-DECLARES-PIONEER   06-18 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>CSR DECLARES PIONEER SUGAR BID UNCONDITIONAL</TITLE>
<DATELINE>    SYDNEY, June 18 - </DATELINE><BODY>CSR Ltd &lt;CSRA.S> said it had declared
unconditional its takeover bid for &lt;Pioneer Sugar Mills Ltd>
following Pioneer's recommendation that shareholders accept.
    This meant Pioneer shareholders would be paid for all
shares tendered within 14 days, CSR said in a statement.
    CSR's statement follows Industrial Equity Ltd's &lt;INEA.S>
disclosure yesterday that it had built up a 9.8 pct stake in
Pioneer at 2.54 dlrs a share, topping CSR's cash bid of 2.50.
    CSR is also offering one share, currently worth 4.04 dlrs,
plus 1.20 cash, for every two Pioneer shares, which values
Pioneer at 2.62 per share. It holds about 33 pct of Pioneer.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6319" NEWID="18567">
<DATE>18-JUN-1987 07:38:03.03</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>belgium</D><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2681&#31;reute
u f BC-SANDVIK,-DIAMANT-BOAR   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SANDVIK, DIAMANT BOART FINALISE DRILLS MERGER</TITLE>
<DATELINE>    BRUSSELS, June 18 - </DATELINE><BODY>Sweden's Sandvik AB &lt;SVIK.ST> and
Diamant Boart SA of Belgium, in which Societe Generale de
Belgique &lt;BELB.BR> holds an indirect 52 pct stake, have
finalised negotiations on merging oil and gas drilling tool
activities, officials of both companies said.
    Staffan Paues, President of the new Brussels-based joint
venture company Diamant Boart Stratabit SA (DBS), told a news
conference that the merged firm would be able to offer products
for all types of drilling operations.
    He said there were already signs that a slow recovery from
recession was under way in the oil and gas industries.
    "Stability in oil prices should lead to renewed investment"
Paues said.
    DBS, which Paues said began operations today, brings
together Sandvik's wholly-owned U.S. Subsidiary Strata Bit Corp
of Houston and Diamant Boart's petroleum activities in Europe,
North America, the Middle and Far East and Africa.
    Paues said the merger was a direct result of the sharp fall
in oil prices 18 months ago which led oil firms to cut back
exploration activities. Officials said the complementary
character of the two firms' operations was a further reason.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6320" NEWID="18568">
<DATE>18-JUN-1987 07:42:14.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T 
&#22;&#22;&#1;f2692&#31;reute
u f BC-CANADA-SEES-GLOBAL-AC   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA SEES GLOBAL ACTION TO REDUCE FARM SUBSIDY</TITLE>
<DATELINE>    SINGAPORE, June 18 - </DATELINE><BODY>Canada's Foreign Minister Joe Clark
said there is greater international recognition on the need to
reduce government-imposed subsidies on agricultural produce.
    "There is now recognition that agricultural subsidies must
be reduced, and other reform measures pursued," Clark told a
conference of ASEAN (Association of South East Asian Nations)
foreign ministers and their counterparts from six
industrialised countries.
    A delegate said Clark's call for "halting the subsidy war in
the agricultural products" to ensure a stable world trading
system received warm support from Japan and Australia.
    Clark said the Organisation of Economic Cooperation and
Development (OECD) has called for "reduction of direct and
indirect subsidies and avoidance of predatory or protectionist
trade practices."
    The OECD stand was endorsed by the Venice economic summit
this month. However, he said he did not expect any quick
solution to the subsidy problem.
    Clark said Canadian farmers, like those of ASEAN, "are
caught in the cross-fire of an agricultural subsidy war that is
not of our making."
    Clark said his country will provide 10 mln Canadian dlrs as
aid over thu next five years to developing countries of the
South Pacific region to finance fisheries and other marine
projects.
    "The new program, which we estimate will cost about two mln
Canadian dlrs a year, will be implemented by t&#127;e International
Centre for Ocean Development (ICOD) in close cooperation with
the major South Pacific regional organisations," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6321" NEWID="18569">
<DATE>18-JUN-1987 07:43:04.55</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2694&#31;reute
f f BC-THOMSON-GRAND-PUBLIC   06-18 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>THOMSON GRAND PUBLIC TAKES OVER THORN EMI'S AUDIOVISUAL
DIVISION - THOMSON
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6322" NEWID="18570">
<DATE>18-JUN-1987 08:05:12.74</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2727&#31;reute
b f BC-THOMSON-TAKES-OVER-TH   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMSON TAKES OVER THORN EMI AUDIOVISUAL</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>Thomson Grand Public, the subsidiary of
Thomson SA &lt;THMP.PA>, has taken over the audiovisual consumer
goods division of British group Thorn EMI, Thomson Grand Public
chairman Pierre Garcin said.
    The cost of the deal, signed late yesterday, is around 90
mln stg and Thomson will finance 50 mln of this from its
equity.
    Thorn EMI is a leader in the British audiovisual market
with a turnover last year of 300 mln stg.
    Garcin said the new acquisition would substantially
increase Thomson's turnover in the sector.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6323" NEWID="18571">
<DATE>18-JUN-1987 08:06:28.44</DATE>
<TOPICS><D>ship</D><D>lead</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f2736&#31;reute
u f BC-VESSEL-LOST-IN-PACIFI   06-18 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>VESSEL LOST IN PACIFIC WAS CARRYING LEAD</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>The 37,635 deadweight tonnes bulk carrier
Cumberlande, which sank in the South Pacific last Friday, was
carrying a cargo which included lead as well as magnesium ore,
a Lloyds Shipping Intelligence spokesman said.
    He was unable to confirm the tonnages involved.
    Trade reports circulating the London Metal Exchange said
the vessel, en route to New Orleans from Newcastle, New South
Wales, had been carrying 10,000 tonnes of lead concentrates.
Traders said this pushed lead prices higher in early morning
trading as the market is currently sensitive to any fundamental
news due to its finely balanced supply/demand position and low
stocks.
    Trade sources said that 10,000 tonnes of lead concentrates
could convert to around 5,000 tonnes of metal, although this
depended on the quality of the concentrates.
    A loss of this size could cause a gap in the supply
pipeline, particularly in North America, they noted. Supplies
there have been very tight this year and there is a strike at
one major producer, Cominco, and labour talks currently being
held at another, Noranda subsidiary Brunswick Mining and
Smelting Ltd.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6324" NEWID="18572">
<DATE>18-JUN-1987 08:08:41.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2746&#31;reute
u f BC-FRANCE'S-CRH-CANCELS   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE'S CRH CANCELS TWO BILLION FRANC TAP ISSUE</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>French mortgage refinancing agency Caisse
de Refinancement Hypothecaire (CRH) has cancelled today's
auction of between one and two billion francs worth of tap
stock, the Bank of France said.
    In a statement the agency cited "exceptional circumstances"
on the bond market which resulted in a low level of
applications.
    Today's issue would have been a new tranche of the agency's
March 1987 8.50 pct 12 year issue. At its last auction in May
the CRH sold 2.02 billion francs worth of the stock at a top
accepted price of 91.10 pct giving an average 9.79 pct yield.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6325" NEWID="18573">
<DATE>18-JUN-1987 08:09:47.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F A 
&#22;&#22;&#1;f2749&#31;reute
r f BC-dome-shareholder-file   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DOME &lt;DMP> SHAREHOLDER FILES CLASS ACTION SUIT</TITLE>
<DATELINE>    CALGARY, Alberta, June 18 - </DATELINE><BODY>Dome Petroleum Ltd said one of
its common shareholders filed a class action suit in a New York
court alleging the company, its chairman and president breached
their fiduciary duties concerning Amoco Corp's proposed
takeover of Dome.
    Dome said the suit, filed by counsel representing Allen B.
DeYoung, who holds 100 Dome common shares, names Dome, chairman
J. Howard Macdonald, president John Beddome as defendents, as
well as Amoco and Amoco's Canadian unit Amoco Canada Petroleum
Co Ltd.
    Dome said the class action suit, filed in United States
district court in New York, seeks a court order declaring the
Dome-Amoco takeover null and void or compensation in excess of
100 mln dlrs in actual damages, plus compensation for any
consequential damages.
    The suit also seeks to block a provision in the merger
agreement for Dome to sell to Amoco its Primrose, Alberta,
heavy oil properties for 79 mln dlrs if the takeover is not
completed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6326" NEWID="18574">
<DATE>18-JUN-1987 08:10:02.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f2751&#31;reute
r f BC-TNP-ENTERPRISES-&lt;TNP>   06-18 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>TNP ENTERPRISES &lt;TNP> UNIT TO SELL BONDS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Texas-New Mexico Power Co, a unit of
TNP Enterprises Inc, said it filed with the Securities and
Exchange Commission a registration statement covering 65 mln
dlr issue of first mortgage bonds.
    Proceeds will be used to repay short-term debt and for
other general purposes, the company said.
    It said the bonds would probably be offered through
Shearson Lehman Brothers Inc and Salomon Brothers Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6327" NEWID="18575">
<DATE>18-JUN-1987 08:10:38.75</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2755&#31;reute
r f BC-TEXACO-CITES   06-18 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>JWT GROUP &lt;JWT> SUES WPP GROUP PLC</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>JWT Group Inc said it filed a suit
against &lt;WPP Group Plc> to enjoin the company from continuing
its tender offer.
    The company said it charged that former JWT Group unit
executive John Peters has breached his fiduciary duty by
disclosing confidential information about the company and its
clients.
    The company said the suit, filed in New York State Supreme
Court, seeks to halt the "ongoing misuse and misappropriation
of highly confidential and proprietary information concerning
JWT and its clients.
    The defendants in the suit are WPP Group and its units and
Peters, who until January 29 was a director of J. Walter
Thompson Co, JWT Group's main subsidiary and its president and
chief operating officer.
    JWT said it asked the court to enjoin the defendants from
acquiring any further JWT stock, make them return all
confidential and proprietary information and to disgorge all
profits or other gains.
    The company said it also asked the court to award JWT
unspecified damages.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6328" NEWID="18576">
<DATE>18-JUN-1987 08:11:30.61</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;f2759&#31;reute
r f BC-JWT-GROUP-&lt;JWT>-GRANT   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>JWT GROUP &lt;JWT> GRANTS GOLDEN PARACHUTES</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>JWT Group Inc disclosed in a filing
with the Securities and Exchange Commission that it awarded
so-called "golden parachutes" to 26 top officers.
    The company said it granted the special bonuses, which take
effect only if an executive is fired within two years of a
successful takeover, on June 8.
    It granted 25 of the officials a severance payment of just
under three times their annual compensation if they are fired
after a takeover. For chairman Don Johnston, the payment was
limited to twice his annual compensation.
    JWT approved additional lump-sum payments of one year's
compensation to an unspecified number of other highly paid
company officials.
    The company also altered its employee retirement and stock
incentive plans, to assure continued protection and benefits
for employees in the event of a hostile takeover.
    The company did not disclose the cost of the changes made
in the severance, retirement or stock plans.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6329" NEWID="18577">
<DATE>18-JUN-1987 08:12:00.49</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;f2763&#31;reute
u f BC-UNILEVER-DECLINES-COM   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>UNILEVER DECLINES COMMENT ON GILLETTE BID RUMOURS</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>A spokesman for Unilever Plc &lt;UN.AS>
declined to comment on market rumours that it may be
considering a bid for the U.S. Health care group The Gillette
Co &lt;GS.N>.
    Gillette shares are traded on the over-the-counter market
in London and this morning stood one dollar higher at 38 dlrs
in response to the bid speculation. Unilever dipped 33p to
3,275 in a generally depressed U.K. Market.
    Most analysts dismissed the rumours saying it was an old
story, and one commented that it was "utter rubbish," adding he
thought Unilever would not be interested in Gillette.
    Gillette shares rose sharply at the beginning of the month
on Wall Street rumours that Sir James Goldsmith was building a
stake in the company.
    Gillette has been the subject of repeated rumours since
Ronald Perelman, chairman of the Revlon Group Inc &lt;REV>, made
an unsuccessful bid for the company last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6330" NEWID="18578">
<DATE>18-JUN-1987 08:17:21.83</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;f2775&#31;reute
u f BC-PEFCO-SELLS-NOTES-VIA   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>PEFCO SELLS NOTES VIA J.P. MORGAN SECURITIES</TITLE>
<AUTHOR>    By John Picinich, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Private Export Funding Corp, PEFCO, is
offering 150 mln dlrs of secured notes due 1994 with an 8.60
pct coupon and par pricing, said J.P. Morgan Securities Inc,
acting as lead manager of its first corporate debt deal.
    "To our knowledge, this is the first time that an affiliate
of a bank holding company has been a manager of a corporate
bond offering in the U.S.," a spokesman for J.P. Morgan and Co
Inc said.
    J.P. Morgan Securities is an affiliate of J.P. Morgan and
Co, the fifth largest bank in the U.S.
    The J.P. Morgan spokesman explained that because the PEFCO
notes are guaranteed by the U.S. government, the securities
affiliate was not prohibited by the Glass-Steagall Act from
underwriting the issue.
    Indeed, Bankers Trust Co and Citicorp Investment Bank,
which are affiliates of Bankers Trust New York Corp and
Citicorp respectively, were co-managers of the PEFCO offering.
    Passed by Congress in 1933, Glass-Steagall bars commercial
banks from owning brokerage firms and engaging in such
investment banking activities as underwriting corporate
securities or municipal revenue bonds.
    Last year, several major U.S. banks formed investment
banking affiliates and applied to the Federal Reserve Board for
authorization to offer commercial paper and underwrite and
trade municipal revenue bonds and some forms of mortgage-backed
securities.
    J.P. Morgan Securities received permission from the Fed
several weeks ago for these activities, the spokesman said.
    But the Securities Industry Association, a trade group of
investment banking firms, appealed the decision. J.P. Morgan
also appealed because it believed the Fed placed too many
restrictions on the bank's affiliate, the spokesman said.
    "The Securities and Exchange Commission got a stay, so we
are not engaging in those activities," the J.P. Morgan
spokesman said.
    "We are perfectly eligable to underwrite this offering. We
are endeavoring to prove that there is nothing mysterious about
this business," the spokesman said.
    He added, "Ruling off certain markets does not serve the
public policy.
    J.P. Morgan Securities was formed in April 1986 with
capitalization of 250 mln dlrs, the spokesman said. At year-end
1986, the firm had 261.5 mln dlrs of capital.
    Dillon, Read and Co Inc, Merrill Lynch Capital Markets and
Salomon Brothers Inc also served as co-managers of the PEFCO
deal.
    The issue's yield was 50 basis points over comparable
Treasury securities. The notes are non-callable for life. A
top-flight AAA rating by Moody's and Standard and Poor's is
anticipated.
    The gross spread is 5.75 dlrs, the selling concession is
3.50 dlrs and the reallowance is two dlrs.
    The spokesman said J.P. Morgan Securities was a member of
an underwriting syndicate for a Sallie Mae issue last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6331" NEWID="18579">
<DATE>18-JUN-1987 08:19:46.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2786&#31;reute
h f BC-BRITISH-TELECOM-LOOKS   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM LOOKS FORWARD TO MORE PROGRESS</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>British Telecommunications Plc &lt;BTY.L>
said it looked to further progress this year after reporting a
11.7 pct rise in 1986/87 pretax profits to 2.07 billion stg.
    The result was at the top end of market expectations but
the shares nonetheless declined from last night's closing
levels to stand 12p lower at 303p at 1130 GMT.
    Telephone call income rose 9.5 pct to 4.97 billion while
rental income increased 10.6 pct to 3.06 billion.
    The company said it had not paid anything through its
profit-sharing scheme, after 18 mln stg last year, considering
such payments inappropriate after a series of strikes.

    It said total operating costs rose 806 mln stg to 7.08
billion while its basket of across-the-range tariffs had been
reduced overall by 0.3 pct last November under arrangements set
up before privatisation.
    Despite the rise in profits, taxation rose only 11 mln stg
to 754 mln, reflecting the cut in U.K. Corporation tax to 35
pct from 40 pct during the year. Gearing fell to 33 pct from 39
pct. Price regulation formulae were introduced for both the
previously state-owned utilities that have been floated off.
Yesterday, British Gas Plc &lt;BRGS.L> said it was cutting tariffs
for domestic customers by about 4.5 pct.
    BT chairman Sir George Jefferson said work on new digital
exchanges and optical fibre links will continue and the fight
against vandalism of public call boxes would go on.
    "We have been spending 160 mln stg over three years
modernising and expanding our payphone service to make our call
boxes more reliable and harder to vandalise."
    Expenditure on digital exchanges was about 500 mln stg and
progress had been made in installing optical fibre.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6332" NEWID="18580">
<DATE>18-JUN-1987 08:20:00.07</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;f2788&#31;reute
r f BC-EXIDE-SELLS-10-YEAR-S   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>EXIDE SELLS 10-YEAR SENIOR SUBORDINATED NOTES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Exide Corp is raising 135 mln dlrs via
an offering of senior subordinated notes due 1997 yielding
13.01 pct, said sole manager Drexel Burnham Lambert Inc.
    The notes have a 12-7/8 pct coupon and were priced at
99.25, Drexel said. The issue is non-callable for three years
and non-refundable for five years.
    Moody's rates the notes B-2 and Standard and Poor's rates
them B-minus. The gross spread is 33.75 dlrs, the selling
concession is 21 dlrs and the reallowance is 2.50 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6333" NEWID="18581">
<DATE>18-JUN-1987 08:20:09.41</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;f2789&#31;reute
r f BC-OLIN-&lt;OLN>-SUBORDINAT   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>OLIN &lt;OLN> SUBORDINATED NOTES YIELD 9.558 PCT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Olin Corp is raising 125 mln dlrs via
an offering of 10-year subordinated notes yielding 9.558 pct,
said lead manager Morgan Stanley and Co Inc.
    The notes have a 9-1/2 pct coupon and were priced at 99.625
to yield 134 basis points more than comparable Treasury
securities.
    Non-callable for life, the issue is rated Baa-2 by Moody's
and BBB-minus by Standard and Poor's. The gross spread is seven
dlrs, the selling concession is four dlrs and the reallowance
is 2.50 dlrs. Salomon Brothers co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6334" NEWID="18582">
<DATE>18-JUN-1987 08:20:18.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM E 
&#22;&#22;&#1;f2790&#31;reute
r f BC-FLETCHER-CHALLENGE-UN   06-18 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>FLETCHER CHALLENGE UNIT SELLS 10-YEAR NOTES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Fletcher Challenge Finance USA Inc, a
unit of Fletcher Challenge Ltd, is raising 190 mln dlrs via an
offering of notes due 1997 yielding 9.28 pct, said sole manager
First Boston Corp.
    The notes have a 9-1/4 pct coupon and were priced at 99.80
to yield 105 basis points more than comparable Treasury
securities.
    Non-callable to maturity, the issue is rated a top-flight
Aaa by Moody's and Standard and Poor's. The gross spread is
6.50 dlrs, the selling concession is four dlrs and the
reallowance is 2.50 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6335" NEWID="18583">
<DATE>18-JUN-1987 08:20:45.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2793&#31;reute
r f BC-MCDONNELL-DOUGLAS-&lt;MD   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MCDONNELL DOUGLAS &lt;MD> GETS BIG THAI AIR ORDER</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>McDonnell Douglas Corp said it has
received an order from Thai Airways International for one
McDonnell Douglas DC-10 Series 30ER aircraft and four MD-11
long-range trijets, plus options for four more MD-11's.
    The company said the nine aircraft, together with two other
DC-10ER's ordered earlier this year by Thai Air, are worth
about one billion dlrs.
    It said the DC-10 is scheduled for April 1988 delivery and
the first two newly ordered MD-11's in September and November
1990, with the others two in October and November 1991.
    McDonnell Douglas said the DC-10 will be powered by General
Electric Co &lt;GE> CF6-50C2 engines and the MD-11's by GE
CF6-80C2 engines.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6336" NEWID="18584">
<DATE>18-JUN-1987 08:21:04.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f2796&#31;reute
r f BC-COMMONWEALTH-EDISON-&lt;   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH EDISON &lt;CWE> SELLS SEVEN-YEAR BONDS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Commonwealth Edison Co is raising 140
mln dlrs through an offering of first mortgage bonds due 1994
yielding 8.92 pct, said lead manager Salomon Brothers Inc.
    The bonds bear an 8-7/8 pct coupon and were priced at
99.765 to yield 85 basis points more than comparable Treasury
securities.
    Non-callable for five years, the issue is rated A-3 by
Moody's and A by Standard and Poor's. The gross spread is 6.50
dlrs, the selling concession is four dlrs and the reallowance
is 2.50 dlrs. Morgan Stanley co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6337" NEWID="18585">
<DATE>18-JUN-1987 08:21:12.59</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;f2798&#31;reute
r f BC-SERVICE-RESOURCES-&lt;SR   06-18 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>SERVICE RESOURCES &lt;SRC> ENDS SORG &lt;SRG> BID</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Service Resources Corp said it has
withdrawn and terminated its 23 dlr per share takeover offer to
Sorg Inc because Sorg failed to respond to the bid.
    It said, as Sorg's largest single shareholder, it will
evaluate all its options, including making a further offer to
Sorg or disposing of some or all of its Sorg shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6338" NEWID="18586">
<DATE>18-JUN-1987 08:21:19.67</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;f2799&#31;reute
r f BC-EXIDE-SENIOR-SUBORDIN   06-18 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>EXIDE SENIOR SUBORDINATED NOTES YIELD 13.01 PCT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Exide Corp is raising 135 mln dlrs via
an offering of senior subordinated notes due 1997 yielding
13.01 pct, said sole manager Drexel Burnham Lambert Inc.
    The notes have a 12-7/8 pct coupon and were priced at
99.25, Drexel said.
    The issue is non-callable for three years and
non-refundable for five years. Moody's rates the notes B-2 and
Standard and Poor's rates them B-minus. The gross spread is
33.75 dlrs, the selling concession is 21 dlrs and the
reallowance is 2.50 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6339" NEWID="18587">
<DATE>18-JUN-1987 08:21:26.13</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;f2800&#31;reute
r f BC-JOY-TECHNOLOGIES-SELL   06-18 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>JOY TECHNOLOGIES SELLS 12-YEAR DEBENTURES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Joy Technologies Inc is raising 185 mln
dlrs through an offering of senior subordinated debentures due
1999 yielding 13.85 pct, said lead manager Kidder, Peabody and
Co Inc.
    The notes have a 13-3/4 pct coupon and were priced at
99.396, Kidder said. The issue is non-callable for five years.
    Moody's rates the debt B-1, compared to a B-minus grade by
Standard and Poor's. Donaldson, Lufkin and Jenrette co-managed
the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6340" NEWID="18588">
<DATE>18-JUN-1987 08:21:33.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2801&#31;reute
r f BC-SALOMON-&lt;SB>-SEES-LOW   06-18 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON &lt;SB> SEES LOWER 2ND QTR</TITLE>
<DATELINE>    NEW YORK, June 17 - </DATELINE><BODY>Robert Salomon, managing director of
Salomon Inc, said the company's second quarter is "likely to be
comfotrably in the black, but down from the comparable year-ago
quarter," when Salomon earned 117 mln dlrs or 78 cts a share on
a primary basis.
    "Its been a difficult quarter," Salomon told Reuters,
adding that financial analysts today lowered their second
quarter earnings estimate for the company to 30 cts to 50 cts
per share from a range of 75 cts to 80 cts a share.
    Salomon's stock closed at 34-3/4, off one, on heavy
trading.
   
    Salomon said he was deluged with calls from analysts after
yesterday's announcement by First Boston Inc &lt;FBC> that it will
report a loss for the second quarter due to steep losses in the
bond market during April.
    Salomon acknowledged that the quarter was "difficult" but
said the company will report a profit for the period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6341" NEWID="18589">
<DATE>18-JUN-1987 08:21:46.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2804&#31;reute
r f BC-THRIFTY-RENT-A-CAR-IN   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>THRIFTY RENT-A-CAR IN INITIAL OFFERING</TITLE>
<DATELINE>    TULSA, Okla., June 17 - </DATELINE><BODY>Thrifty Rent-A-Car System Inc, the
fifth largest car rental company in North America, said it
filed with the Securities and Exchange Commission for an
initial public offering of two mln shares of comon stock.
    Thrifty said the offering represents about one-third of the
company's outstanding and current stockholders will retain a
majority two-thirds ownership of the company.
    Alex. Brown and Sons Inc will be managing underwriter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6342" NEWID="18590">
<DATE>18-JUN-1987 08:21:52.32</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;f2805&#31;reute
r f BC-HALCYON-HAS-STAKE-IN   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>HALCYON HAS STAKE IN RESEARCH-COTTRELL &lt;RC></TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Halcyon Investments, a New York firm,
reported a 6.9 pct stake in Research-Cottrell Inc.
    Alan Slifka, a partner in Halcyon, told Reuters the shares
were purchased for investment purposes but declined further
comment.
    On June 8, Research-Cottrell said it had entered into a
definitive agreement to be acquired by R-C Acquisitions Inc for
43 dlrs per share. Research-Cottrell closed at 44-1/4 today,
unchanged from the previous close.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6343" NEWID="18591">
<DATE>18-JUN-1987 08:21:58.12</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;f2806&#31;reute
r f BC-CULLINET-SOFTWARE-INC   06-18 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>CULLINET SOFTWARE INC &lt;CUL> 4TH QTR EARNINGS</TITLE>
<DATELINE>    WESTWOOD, Mass., June 18 - </DATELINE><BODY>April 30 end
    Shr loss 13 cts vs shr profit 12 cts
    Net loss 4,116,000 vs net profit 3,672,000
    Revs 61.1 mln vs 55.5 mln
    Avg shrs 32,263,000 vs 31,640,000
    12 months
    Shr loss 86 cts vs shr profit 42 cts
    Net loss 27.6 mln vs net profit 13 mln
    Revs 174.9 mln vs 189.3 mln
    Avg shrs 32,184,000 vs 30,938,000
    NOTE: Both 1987 and 1986 figures restated to reflect April
21, 1987 acquisition of Distribution Management Systems Inc,
accounted for as a pooling of interests.
    1987 results include a first quarter non-recurring charge
of 7 mln dlrs with an after-tax impact of 11 cts per share
attributable to the write-off of the remaining assets acquried
from Computer Pictures Corp in November 1982.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6344" NEWID="18592">
<DATE>18-JUN-1987 08:22:11.23</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2807&#31;reute
r f BC-ALLEGIS-&lt;AEG>-MEETS-W   06-18 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGIS &lt;AEG> MEETS WITH UNITED EMPLOYEES GROUP</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>A spokesman for a group of United
Airlines employees, who oppose the attempted takeover of United
by the Airline Pilots Association, said he met with the new
chairman of Allegis, Frank Olson.
    William Palmer, the group's spokesman, which claims to
speak for thousands of United employees, said the meeting with
Olson was "positive and friendly," but no future meeting dates
were set.
    In April the pilots union offered to buy out United, an
Allegis subsidiary, through an employee stock ownership plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6345" NEWID="18593">
<DATE>18-JUN-1987 08:22:31.68</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;f2809&#31;reute
u f BC-USX-&lt;X>-OFFERS-CONVER   06-18 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> OFFERS CONVERTIBLE PREFERRED</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>USX Corp announced a public offering
of 250 mln dlrs of convertible exchangeable cumulative
preference stock underwritten by Morgan Stanley and Co Inc and
FIrst Boston Corp.
    USX said the proceeds will be used to redeem its currently
outstanding 2.25 dlrs convertible exchangeable cumulative
preference stock.
    USX said the new stock will be offered at 50 dlrs a share
and will have a dividend of 3.50 dlrs a share per year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6346" NEWID="18594">
<DATE>18-JUN-1987 08:22:50.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f2811&#31;reute
r f BC-MARINE-MIDLAND-&lt;MM>-D   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MARINE MIDLAND &lt;MM> DEBT AFFIRMED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
affirmed the ratings on 1.4 billion dlrs of debt of Marine
Midland Banks Inc and unit, Marine Midland Bank NA.
    Affirmed were the parent's A-2 senior debt and preferred
stock and A-3 subordinated debt, and the unit's Prime-1
commercial paper, A-1 long-term deposits, A-2 subordinated debt
and Prime-1 short-term deposits.
    Moody's cited a 400 mln dlr addition to the firm's loan
loss reserves as a reflection of exposure to economically
troubled borrowers. Moody's said the addition merely more
accurately reflects economic reality.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6347" NEWID="18595">
<DATE>18-JUN-1987 08:27:47.74</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2825&#31;reute
u f BC-NAT-WEST-CUTS-MORTGAG   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>NAT WEST CUTS MORTGAGE RATE FOR NEW BORROWERS</TITLE>
<DATELINE>    London, JUNE 18 - </DATELINE><BODY>National Westminster Bank Plc &lt;NWBL.L>
announced a 0.75 pct reduction in the mortgage interest rate
applicable to new mortgages taken out from June 19, 1987.
    The new rate is 10.5 pct (APR - Annual Percentage Rate -
11.2 pct including fees for normal repayment mortgages, and
11.1 pct including fees for endowment and pension mortgages).
    A spokesman for Nat West said the position for existing
mortgages is being kept under active review in the light of
market conditions, and an announcement will be made as soon as
possible.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6348" NEWID="18596">
<DATE>18-JUN-1987 08:30:17.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2830&#31;reute
r f BC-TPI-ENTERPRISES-&lt;TELE   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>TPI ENTERPRISES &lt;TELE.O> CHAIRMAN IN STOCK BUY</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>TPI Enterprises Inc said chairman and
chief executive officer Stephen R. Cohen may be one of the
partners in a partnership formed by AMC Entertainment Inc &lt;AEN>
and Phillip E. Cohen to own 6,275,144 TPI shares.
    Yesterday AMC announced that it and Cohen had agreed to buy
the shares from Rank America Inc for six dlrs each. Cohen was
formerly a TPI director.
    TPI said under the terms of its sale of the shares to Rank,
it has a 30-day option to purchase the shares Rank proposes to
sell to AMC and Cohen for the same price. It said its board
will consider whether or not to exercise the option.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6349" NEWID="18597">
<DATE>18-JUN-1987 08:35:14.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V 
&#22;&#22;&#1;f2860&#31;reute
u f AM-BUDGET   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BUDGET COMPROMISE REACHED IN CONGRESS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Congressional Democratic leaders
announced a compromise has been reached on a 1988 budget,
paving the way for final approval of a trillion dollar spending
plan.
    House Speaker Jim Wright and Senate Majority Leader Robert
Byrd told a news conference that final congressional approval
of the plan to reduce an estimated 171 billion dlr deficit next
year to 134 billion dlr was expected next week.
    The plan was worked out by Democrats who control both House
and Senate but who have been stalemated for a month over
different House and Senate budgets that passed earlier.
    The budget proposes 19.5 billion dlrs in new taxes next
year, 65 billion dlrs over a three year span.
    It would cut President Reagan's request to spend 298
billion dlrs for defense in 1988 by about nine billion dlrs,
but only if he accepts the proposed tax increase to pay for it.
    If Reagan rejects the tax rise, which he has said he would,
defense spending under the plan would drop automatically by
about five billion dlrs, the leaders said.
    Reagan's own budget was rejected by wide margins in both
House and Senate by a combination of Democrats and his own
Republican party who said it was unrealistic.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6350" NEWID="18598">
<DATE>18-JUN-1987 08:42:16.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T 
&#22;&#22;&#1;f2867&#31;reute
u f BC-/SENATOR-SAYS-REAGAN   06-18 0144</UNKNOWN>
<TEXT>&#2;
<TITLE>SENATOR SAYS REAGAN FARM REFORM PLANS DOOMED</TITLE>
<DATELINE>    Washington, June 18 - </DATELINE><BODY>Senator Kent Conrad, D-ND, said
President Reagan's goal of phasing-out world farm subsidies by
the year 2000 is doomed to failure because the European
Community, EC, will not accept it.
    "It (Reagan plan) is a nonstarter. Its absolutely crystal
clear they (EC) have no intention of eliminating subsidies,"
said Conrad on his return from a four-day visit to Europe.
    Instead of proposing an end to farm subsidies, he said the
U.S. should adopt some of the EC Common Agricultural Policy,
CAP, principles by seeking a "compromise" agreement with
Brussels to jointly reduce production, and apply a two-price
system of high domestic and low export prices. Under the plan,
export subsidies would bridge domestic and world price gaps,
said Conrad, a new member of the Senate Agriculture Committee.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6351" NEWID="18599">
<DATE>18-JUN-1987 08:44:00.21</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>luxembourg</D><D>uk</D><D>netherlands</D><D>west-germany</D><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f2868&#31;reute
u f BC-OPPOSITION-TO-EC-OILS   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>RPT - OPPOSITION TO EC OILS TAX INTACT - MINISTER</TITLE>
<DATELINE>    LUXEMBOURG, June 17 - </DATELINE><BODY>A minority group of European
Community countries strong enough to block the adoption of a
tax on vegetable and marine oils and fats is still intact after
the EC Commission proposed changes to its proposals earlier
today, British agriculture minister John MacGregor told
journalists.
    He said Britain, West Germany, the Netherlands and Denmark
continue to oppose the tax after the Commission proposed making
it temporary and promising compensation to any third countries
whose exports suffered.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6352" NEWID="18600">
<DATE>18-JUN-1987 08:46:22.37</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;f2879&#31;reute
r f BC-HARCOURT-BRACE-&lt;HBJ>   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>HARCOURT BRACE &lt;HBJ> CALLS SPECIAL MEETING</TITLE>
<DATELINE>    ORLANDO, Fla., June 18 - </DATELINE><BODY>Harcourt Brace Jovanovich Inc said
it has called a special meeting for July 23 for a vote on an
increase in authorized common shares to 100 mln from 50 mln, an
increase in preferred shares to 150 mln from 2,500,000 and a
provision allowing the payment of preferred dividends in stock
or property as well as cash.
    The company said June 29 will be the record date for the
meeting.  Harcourt which is fighting off a takeover bid from
&lt;British Printing and Communication Corp PLC>, has declared a
special dividend on common stock of 40 dlrs in cash and 12 pct
preferred stock with a market value of 10 dlrs per share.
    The special dividend is to be paid July 27.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6353" NEWID="18601">
<DATE>18-JUN-1987 08:46:38.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2882&#31;reute
r f BC-WASHINGTON-BANCORP-&lt;W   06-18 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>WASHINGTON BANCORP &lt;WWBC.O> ADDS TO RESERVES</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Washington Bancorp said it has added
12 mln dlrs to its reserves for losses on international loans,
causing a second quarter loss of about nine mln dlrs.
    The company said it expects a profit for the calendar year
that will be more than sufficient to cover dividend payments,
and the current dividend policy will be maintained.  The
company now pays seven cts per share quarterly.
    Washington Bancorp earned 2,358,000 dlrs for last year's
second quarter and 8,179,000 dlrs for all of 1986.  It said
despite the increased provision, book value at year-end should
be at least as much as the end-1986 17 dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6354" NEWID="18602">
<DATE>18-JUN-1987 08:46:48.04</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;f2883&#31;reute
r f BC-PENWEST-INC-&lt;PENW.O>   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>PENWEST INC &lt;PENW.O> 3RD QTR MAY 31 NET</TITLE>
<DATELINE>    BELLEVUE, Wash., June 18 -
    </DATELINE><BODY>Shr 1.08 dlrs vs 37 cts
    Net 3,025,000 vs 1,188,000
    Sales 35.2 mln vs 35.4 mln
    Avg shrs 2,794,298 vs 3,187,051
    Nine mths
    Shr 2.43 dlrs vs 83 cts
    Net 6,781,000 vs 2,576,000
    Sales 101.0 mln vs 99.7 mln
    Avg shrs 2,794,298 vs 3,115,499
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6355" NEWID="18603">
<DATE>18-JUN-1987 08:47:56.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>eib</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2885&#31;reute
u f BC-EIB-MAKES-300-MLN-FRA   06-18 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>EIB MAKES 300 MLN FRANC LOAN TO PEUGEOT</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>The European Investment Bank said it is
making a 300 mln franc loan to Peugeot SA &lt;PEUP.PA> to
restructure the paint works at its Sochaux car factory in
France.
    It said the ten-year loan carries interest at 9.15 pct and
follows a 300 mln franc 8.60 pct ten-year loan the bank made to
Peugeot last July.
    Work on the paint shop at Sochaux is part of a 1.3 billion
franc operation to modernise the group's factories, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6356" NEWID="18604">
<DATE>18-JUN-1987 08:48:36.39</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>netherlands</D><D>brazil</D><D>west-germany</D><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T 
&#22;&#22;&#1;f2887&#31;reute
u f BC-EUROPEAN-COFFEE-TRADE   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>RPT - EUROPEAN TRADE MAY PROPOSE NEW ICO FORMULA</TITLE>
<AUTHOR>    By Jeremy Lovell, Reuters</AUTHOR>
<DATELINE>    AMSTERDAM, June 17 - </DATELINE><BODY>European coffee traders and roasters
may propose a new formula for calculating International Coffee
Organization (ICO) coffee quotas at the end of their meeting
here this week, traders and officials told Reuters.
    Although traders were unwilling to reveal details of the
possible new formula, they said it would give Brazil, the
world's biggest coffee producer, unchanged ICO quotas for the
next two years and could be a basis for renegotiation.
    "The main sticking point on quotas has been Brazil's
attitude, and this compromise could be a solution, " one said.
    However, the European coffee trade federation meeting,
which began here today and is to continue to the end of the
week, has revealed gaps in the European position on
re-introducing quotas.
    Traders said that, as a whole, the trade side was against
re-introduction of ICO quotas, while roasters were generally in
favour with the single proviso that there had to be some
formula basis for re-allocating quota shares among producing
countries.
    The roasters said the positions were generally fairly
close, and problems with some Government officials.
    Germany and Italy were cited as the extremes of polarized
Government attitudes, with most other countries on the fence.
    Sources said Germany was the most extreme against quota
re-introduction, while the Italians were most in favour.
    "Nevertheless, we expect to find enough common ground by the
end of the week to at least present a common European Community
(EC) view at the next meeting of consumer members of the
International Coffee Agreement (ICA) in July," one trader said.
    "We hope we can present the compromise proposal and that not
only the consumer side, but the producer side will accept it,"
one official said.
    "We have learned that we can live without the quotas that
were suspended in February last year, but would prefer the
stability they can bring to the market as long as we do not
simply return to the old and outdated status quo as far as
quota allocation is concerned," he added.
    Overall, however, trader and roaster opinion on the
likelihood of a successful re-negotiation was mildly
pessimistic, varying between a 50-50 chance and 60-40 against.
    "Our main difficulty will be to persuade the U.S. On the
consumer side and Brazil on the producer side to agree to quota
re-introduction, " he said.
    "The U.S. Position has, if anything, hardened, while the new
Brazilian Coffee Institute president has adopted the least
negotiable position of any of his predecessors," one trader
said.
    "However, with many producers starting to swing in favour of
the consumer position that quotas have to be re-allocated under
a new formula, Brazil is becoming increasingly isolated, which
gives at least some hope of a compromise at the ICO quota
meeting in September," the official said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6357" NEWID="18605">
<DATE>18-JUN-1987 08:48:41.37</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;f2888&#31;reute
r f BC-FIRST-DATA-MANAGEMENT   06-18 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST DATA MANAGEMENT &lt;FDMC.O> COMPLETES MERGER</TITLE>
<DATELINE>    OKLAHOMA CITY, June 18 - </DATELINE><BODY>First Data Management co Inc said
it has completed a merger into Firsst Data MAnagement Holding
co following sharehoplder approval.
    It said each 100 shares will be exchanged for 1,000 dlrs
principal amount of 14.375 pct senior subordinated debentures
due June 15, 2002.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6358" NEWID="18606">
<DATE>18-JUN-1987 08:48:46.84</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;f2889&#31;reute
d f BC-FROST-AND-SULLIVAN-IN   06-18 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>FROST AND SULLIVAN INC &lt;FRSL.O> 3RD QTR</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Qtr ends April 30
    Shr loss 10 cts vs profit nine cts
    Net loss 163,465 vs profit 131,815
    Revs 3,672,731 vs 3,763,829
    Nine mths
    Shr profit four cts vs profit one ct
    Net profit 57,911 vs profit 11,380
    Revs 11,753,950 vs 10,794,822
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6359" NEWID="18607">
<DATE>18-JUN-1987 08:49:25.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2892&#31;reute
d f BC-FROST/SULLIVAN-&lt;FRSL.   06-18 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>FROST/SULLIVAN &lt;FRSL.O> OFFICERS TO SELL SHARES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Frost and Sullivan Inc President Daniel
Sullivan said he and other executive officers of the company
have agreed to sell an aggregate of 542,684 shares of common
stock including shares issuable on exercise of options.
    In addition, Sullivan said he and other officers would also
cause to be sold an additional 44,000 shares to Theodore Cross,
an investor, for 10 dlrs per share.
    Frost and Sullivan publishes market research reports and
sponsors management seminars and conferences.
   
    Such shares, together with the shares presently held by
Cross, will give Cross a majority of the outstanding shares of
the company's common stock, Sullivan said.
    Sullivan will continue as president and chief executive
officer, the company said.
    After consummation of the sale, Cross and his designees
will be elected to the board and constitute a majority, the
company said.
   
    The company also said stockholders would get 10 dlrs per
share. The board of directors is expected at its next meeting
torecommend that the stockholders accept.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6360" NEWID="18608">
<DATE>18-JUN-1987 08:52:36.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2900&#31;reute
r f BC-POUGHKEEPSIE-SAVINGS   06-18 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>POUGHKEEPSIE SAVINGS &lt;PKPS.O> SETS FIRST PAYOUT</TITLE>
<DATELINE>    POUGHKEEPSIE, N.Y., June 18 - </DATELINE><BODY>Poughkeepsie Savings Bank
said its board declared an initial quarterly dividend of 10 cts
per share, payable July 31 to holders of record July 17.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6361" NEWID="18609">
<DATE>18-JUN-1987 08:52:57.94</DATE>
<TOPICS><D>grain</D><D>rice</D><D>sugar</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2902&#31;reute
u f BC-INDONESIA-REJECTS-WOR   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA REJECTS WORLD BANK FARM REFORM PROPOSALS</TITLE>
<DATELINE>    JAKARTA, June 18 - </DATELINE><BODY>Indonesia rejected World Bank
recommendations for sweeping reforms to its farm economy, as
the country's foreign aid donors met to consider giving it 2.5
billion dlrs in grants and soft loans.
    Agriculture Minister Achmad Affandi, in written remarks
distributed today as Indonesia's 14 foreign donor nations met
at The Hague, said, "The general argument presented by the Bank
for this free trade, open economy view is weak."
    The Bank called for overhauls in how Indonesia manages the
largest farm area in South-east Asia, and said agricultural
growth was stagnating under subsisides for rice farming.
    The Bank report said Indonesia's rice production had peaked
and the subsidies are a waste of money.
    Affandi replied that rice is the main staple and provides
an income for 17 pct of the workforce. The subsidies were
needed to support the fertilizer industry, including importers,
exporters, producers and distributors, he said, as well as
assisting in small part the majority of Indonesian farmers.
    Affandi agreed with a bank recommendation that farmers
should be free to choose their own crops, but he said the
government would continue to maintain production targets for
"strategic commodities" such as rice and sugar.
    The Bank report was especially critical of Indonesia's
drive to plant sugar, saying domestic sugar prices are double
the world average because of inefficiencies, and the country
would save money by importing the commodity.
    However, Affandi said volatile world sugar prices, the need
to save foreign exchange and an already up-and-running sugar
industry were good arguments for continuing the sugar drive.
    He also said import barriers and trade monopolies in the
agricultural sector were needed to help domestic industry
develop and because of "over-production and price intervention
in the developed nations."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6362" NEWID="18610">
<DATE>18-JUN-1987 08:57:22.38</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2907&#31;reute
r f BC-CULP-INC-&lt;CULP.O>-4TH   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>CULP INC &lt;CULP.O> 4TH QTR MAY TWO NET</TITLE>
<DATELINE>    HIGH POINT, N.C., June 18 -
    </DATELINE><BODY>Shr 29 cts vs 23 cts
    Net 1,262,000 vs 1,002,000
    Sales 49.9 mln vs 40.3 mln
    Year
    Shr 1.18 dlrs vs one dlr
    Net 5,205,000 vs 4,339,000
    Sales 180.1 mln vs 150.7 mln
    NOTE: Prior year net both periods includes gain 900,000
dlrs from adjustments to LIFO reserves, compensation related
accruals and a revised effective tax rate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6363" NEWID="18611">
<DATE>18-JUN-1987 08:57:35.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2908&#31;reute
r f BC-CHOCK-FULL-O'-NUTS-&lt;C   06-18 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>CHOCK FULL O' NUTS &lt;CHF> SETS STOCK DIVIDEND</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Chock Full O' Nuts Corp said its board
declared a three pct stock dividend, payable July 31 to holders
of record July Eight.
    The company also said Page M. Black has resigned from its
board to devote her attention to charitable affairs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6364" NEWID="18612">
<DATE>18-JUN-1987 08:58:48.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2912&#31;reute
s f BC-WOODSTREAM-CORP-&lt;WOD>   06-18 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>WOODSTREAM CORP &lt;WOD> SETS QUARTERLY</TITLE>
<DATELINE>    LITITZ, Pa., June 18 -
    </DATELINE><BODY>Qtly div seven cts vs seven cts prior
    Pay Aug 17
    Record July 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6365" NEWID="18613">
<DATE>18-JUN-1987 08:58:51.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2913&#31;reute
s f BC-BUELL-INDUSTRIES-INC   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>BUELL INDUSTRIES INC &lt;BUE> SETS QUARTERLY</TITLE>
<DATELINE>    WATERBURY, Conn., June 18 -
    </DATELINE><BODY>Qtly div eight cts vs eight cts prior
    Pay Aug 28
    Record Aug Three
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6366" NEWID="18614">
<DATE>18-JUN-1987 08:59:19.40</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 T L 
&#22;&#22;&#1;f2914&#31;reute
u f BC-/BUDGET-PACT-CUTS-U.S   06-18 0144</UNKNOWN>
<TEXT>&#2;
<TITLE>BUDGET PACT CUTS U.S. FARM FUNDS 1.25 BILLION DLRS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>U.S. House and Senate budget
negotiators agreed as part of an overall budget accord reached
yesterday, to cut 1.25 billion dlrs from fiscal 1988 spending
on agricultural programs, Congressional sources told Reuters.
    The agreed cut in farm programs is a compromise between 1.4
billion sought by the Senate and one billion by the House.
    The negotiators also agreed to cut 1.6 billion from the
farm budget in fiscal 1989 and 2.45 billion in 1990, for a
total of 5.3 billion in saving over three years, sources said.
    The agreement presents the House and Senate Agriculture
committees with difficult choices on how to make changes in
agriculture programs that achieve the budget savings targets
without jeopardizing popular support payments, senior
Congressional aides told Reuters.
    Some farm state lawmakers already are manuevering to find
the budget savings.
    Rep. Dan Glickman, D-Kan., Chairman of the House grains
subcommittee, has introduced a bill which would freeze wheat
and corn loan rates for the 1988 crop at the current 2.28 dlrs
and 1.92 dlrs respectively, saying it would save 500 mln dlrs.
    House Agriculture Committee chairman Kika De la Garza has
said the committee will consider the Glickman proposal.
    But Congressional sources said the proposal is unlikely to
be approved because of opposition from Republican lawmakers and
a strong stance by Agriculture Secretary Richard Lyng, who said
freezing loan rates would send the wrong signal to other major
grain export competitors and would not achieve the budget
savings Glickman claims.
    Another area where Glickman and other have said budget
savings might be made is to increase acreage reduction program,
ARP, levels for wheat and corn.
    However, on this issue also Lyng has taken a strong stand
within the Reagan administration, arguing that the 1988 crop
wheat acreage reduction should be left at 27.5 pct and not 30
pct as sought by the Office of Management and Budget, OMB. Most
commodity lobbyists expect Lyng to prevail.
    Congressional sources said the only way to achieve
significant budget cuts through ARP increases would be to boost
the 1988 corn ARP. But one informed Congressional source said
singling-out corn for an ARP increase would would be seen as
unfair to one commodity.
    Congressional sources said the areas where Congress is most
likely to eventually look for budget savings are some
tightening of the payment limitation rules, and possible 
adoption of a 0/92 program for the 1988 crops of major grains.
    Those changes would achieve a portion of the 1.25 billion
but not enough, they said.
    Ultimately, Congressional sources said the agriculture
committees may be forced to apply an across-the-board cut on
all Commodity Credit Corp. payments to farmers, including price
support loans and deficiency payments, similar to the
Gramm-Rudman-Hollings budget cut applied in fiscal 1986.
    This idea has been suggested by the American Farm Bureau
Federation, AFBF, as the fairest approach for all commodities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6367" NEWID="18615">
<DATE>18-JUN-1987 08:59:23.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2915&#31;reute
r f BC-WOODSTREAM-&lt;WOD>-REVI   06-18 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>WOODSTREAM &lt;WOD> REVIEWING STRATEGIC PLAN</TITLE>
<DATELINE>    LITITZ, Pa., June 18 - </DATELINE><BODY>Woodstream Corp said its board will
hold a special meeting on July 28 to review a "strategic plan"
developed by management.
    It gave no details.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6368" NEWID="18616">
<DATE>18-JUN-1987 09:01:08.77</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f2919&#31;reute
b f BC-U.S.-FIRST-TIME-JOBLE   06-18 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FIRST TIME JOBLESS CLAIMS ROSE IN WEEK</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>New applications for unemployment
insurance benefits rose to a seasonally adjusted 340,000 in the
week ended June 6 from 310,000 in the prior week, the Labor
Department said.
    The number of people actually receiving benefits under
regular state programs totaled 2,359,000 in the week ended May
30, the latest period for which that figure was available.
    That was up from 2,255,000 the previous week.
     
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6369" NEWID="18617">
<DATE>18-JUN-1987 09:01:25.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2920&#31;reute
s f BC-AMERICAN-INFORMATION   06-18 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN INFORMATION TECHNOLOGIES &lt;AIT> PAYOUT</TITLE>
<DATELINE>    CHICAGO, June 18 -
    </DATELINE><BODY>Qtly div 1.25 dlrs vs 1.25 dlrs prior
    Pay Aug One
    Record June 30
    NOTE: American Information Technologies Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6370" NEWID="18618">
<DATE>18-JUN-1987 09:03:47.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2933&#31;reute
s f BC-INTELLIGENT-SYSTEMS-M   06-18 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>INTELLIGENT SYSTEMS MASTER LP &lt;INP> IN PAYOUT</TITLE>
<DATELINE>    NORCROSS, Ga., June 18 -
    </DATELINE><BODY>Qtly div 25 cts vs 25 cts prior
    Pay July 10
    Record June 30                                             
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6371" NEWID="18619">
<DATE>18-JUN-1987 09:03:56.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2934&#31;reute
s f BC-BELL-ATLANTIC-CORP-&lt;B   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL ATLANTIC CORP &lt;BEL> SETS QTLY DIVIDEND</TITLE>
<DATELINE>    PHILADELPHIA, Pa., June 18 - 
    </DATELINE><BODY>Qtly div 96 cts vs 96 cts prior
    Pay August one
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6372" NEWID="18620">
<DATE>18-JUN-1987 09:05:15.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>iraq</D><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2936&#31;reute
r f BC-ARAB-MONETARY-FUND-LE   06-18 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>ARAB MONETARY FUND LENDS IRAQ 71.7 MLN DLRS</TITLE>
<DATELINE>    ABU DHABI, June 18 - </DATELINE><BODY>The Arab Monetary Fund is to lend Iraq
71.7 mln dlrs to help to finance its trade with other Arab
countries, the United Arab Emirates news agency WAM said.
    The first repayment on the loan will fall due in 30 months
with full repayment spread over four years. The loan carries
4.95 pct interest in the first year, rising to 5.85 pct in the
fourth year.
    Today's agreement brings total loans by the fund to Iraq
since 1983 to 390.6 mln dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6373" NEWID="18621">
<DATE>18-JUN-1987 09:05:26.27</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>qatar</D><D>nigeria</D><D>iran</D><D>libya</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2937&#31;reute
u f BC-OPEC-DIFFERENTIALS-NO   06-18 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>OPEC DIFFERENTIALS NOT SEEN POSING MAJOR PROBLEMS</TITLE>
<AUTHOR>    By Judith Matloff, Reuters</AUTHOR>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Some OPEC states are unhappy about the
prices assigned to their crude oil but this should not pose
great problems when the group reviews its six-month-old price
and output pact in Vienna next week, oil analysts say.
    They said Nigeria, which holds the OPEC conference
presidency, and Qatar probably have the biggest grievances
about price differentials making some of their crudes
uncompetitive.
    There has also been speculation by Japanese traders that
OPEC might want to mark up prices of high-sulphur heavy crudes,
to correspond with greater demand and higher fuel oil prices.
    But most experts agree that a major overhaul of price
differentials is unlikely, so as to avoid giving the market
signals of a dent in OPEC's new unity.
    "All OPEC members can make a good case for changing
differentials," said one analyst with a major oil company. "But
at the end of the day, the attitude is going to be "leave well
alone' and little or nothing is likely to be altered."
    Iran, Libya and Saudi Arabia are among those who also saw
sales problems earlier this year, traders say. But diminished
customer resistance to fixed prices and, in some cases,
marketing incentives have helped their sales.
    Some producers can sell uncompetitively priced crudes by
means of discounts, processing deals or selling them alongside
better priced grades in a "package."
    Many OPEC crudes are seen to be reasonably priced, at least
for some part of the year. But many experts say OPEC should
change prices quarterly or monthly to match seasonal demand for
fuel oil-rich heavy crudes and gasoline-rich lighter grades. At
its last meeting in December, OPEC agreed to reintroduce fixed
prices from February 1 around an 18 dlr per barrel reference
point. Official prices had been effectively dropped in 1985
when members offered discounts to attract customers.
    OPEC also decided to limit first-half 1987 output to 15.8
mln bpd and proposed ceilings of 16.6 mln for the third quarter
and 18.3 mln for the fourth. Analysts expect it will now extend
or raise slightly the current ceiling for the coming months.
    Spot market and netback values for some crudes do not
mirror official prices, but OPEC will probably keep the 18 dlr
target and at most make minimal changes to differentials,
analysts say.
    The 18 dlr figure is based on a basket of six OPEC and one
non-OPEC crudes. OPEC assigned prices to its other key export
crudes, with a 2.65 dlr gap between the heaviest and lightest.
Extra heavy crudes were among those left out.
    Industry estimates vary on the proportion of OPEC oil
exports actually sold at official prices. Several experts say
only one-quarter to one-third of the total in fact sells at
official prices, with some of the rest included in processing
or barter deals or sold in the form of refined products.
    Problems with the new structure appeared earlier this year,
when some producers' output fell due to customer reluctance to
pay the new prices.
   Nigeria especially found its gasoline-rich Bonny Light crude
-- now OPEC's highest priced grade at 18.92 dlrs a barrel --
was uncompetitive on the spot market against Britain's Brent.
    In February and March, Nigeria's production shrank below
its 1.238 mln bpd OPEC quota. Spot prices have since revived,
due partly to seasonal demand for gasoline, and its output has
risen.
    Some experts feel Bonny Light is still overvalued and say
its price should be cut by between 50 cts to one dlr a barrel.
    But Mehdi Varzi, chief oil analyst with London's Kleinwort
Grieveson Securities, doubts Nigeria will actively push the
differentials question in Vienna.
    "It would not look good for OPEC unity if Nigeria, which
holds the presidency, raised the issue," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6374" NEWID="18622">
<DATE>18-JUN-1987 09:07:37.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2941&#31;reute
s f BC-RYLAND-GROUP-INC-&lt;RYL   06-18 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>RYLAND GROUP INC &lt;RYL> IN PAYOUT</TITLE>
<DATELINE>    COLUMBIA, Md., June 18 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay July 30
    Record July 15
                                                 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6375" NEWID="18623">
<DATE>18-JUN-1987 09:07:42.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2942&#31;reute
s f BC-IPCO-CORP-&lt;IHS>-IN-PA   06-18 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>IPCO CORP &lt;IHS> IN PAYOUT</TITLE>
<DATELINE>    WHITE PLAINS, N.Y., June 18 -
    </DATELINE><BODY>Qtly div nine cts vs nine cts prior
    Pay July 31
    Record July Nine
                                                 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6376" NEWID="18624">
<DATE>18-JUN-1987 09:09:17.91</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;f2945&#31;reute
d f BC-SAXON-OIL-&lt;SAXO.O>-SE   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>SAXON OIL &lt;SAXO.O> SETS REDUCTION IN STOCK</TITLE>
<DATELINE>    DALLAS, June 17 - </DATELINE><BODY>Saxon Oil Co said stockholders at its
recent annual meeting approved, among other things, a 1-for 15
reduction in the number of outstanding shares of common stock.
    The company said stockholders also approved the reelection
of the four directors of the company and the authorization of a
change in the state of incorporation of the company from Texas
to Delaware.
    Saxon said it will defer completion of the reincorporation
and the reduction in shares pending satisfactory resolution of
certain federal income tax consequences of such actions.
   
    Also approved at the meeting was a proposal for
indemnification agreements to be entered into with the
directors and executive officers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6377" NEWID="18625">
<DATE>18-JUN-1987 09:10:10.23</DATE>
<TOPICS><D>money-fx</D><D>nzdlr</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE><D>douglas</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f2948&#31;reute
u f BC-NEW-ZEALAND-BUDGET-FO   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW ZEALAND BUDGET FORECAST SEEN AS POSITIVE</TITLE>
<DATELINE>    WELLINGTON, June 18 - </DATELINE><BODY>Analysts said they were surprised at
the government's announcement of a forecast budget surplus for
fiscal 1988 but said it was consistent with previous policy
statements and positive for the economy.
    Finance Minister Roger Douglas predicted a budget surplus
for the year ending March 1988 of 379 mln New Zealand dlrs
against a 1.95 billion deficit last year.
    Analysts polled by Reuters said the forecast budget surplus
was even more positive than the most bullish analysts'
forecasts and that this was good news for financial markets.
    Market expectations among analysts questioned by Reuters
before the budget varied widely between a balanced budget and a
2.3 billion dlr deficit. But none predicted a surplus.
    The forecast initially looks positive for both the bond and
the foreign exchange markets, one analyst said. Paradoxically,
the New Zealand dollar could rise in the medium term, despite
lower interest rates, as overseas investors became more
confident about investing in New Zealand, he said.
    However, some foreign exchange dealers disagreed, saying
the local dollar is primarily interest rate driven and will
move lower.
    The local dollar dropped to 0.5940/50 U.S. Dlrs in after
hours trading, against 0.5970/77 just before the budget
release.
    Analysts said the budget was also positive for the share
market, despite an increase in the contribution of company
taxation to revenue figures.
    One equities analyst predicted that the budget surplus
announcement could push the share market up by 50 points
tomorrow.
    The Budget statement was broadly as expected, with a
continuation of existing policies, and the absence of
traditional pre-election incentives would be viewed positively
by overseas investors, another said.
    But one merchant bank economist said that certain anti-tax
avoidance measures could damage some sectors of the share
market, particularly multi-national companies.
    The government is also lowering its borrowing requirements,
through bond tenders, as a result of the surplus. The
requirement for the rest of the year is now down to 950 mln
N.Z. Dlrs from a predicted 1.75 billion.
    Predicted revenue in the Budget looked sustainable and
there appeared to be no holding back on expenditure, another
economist said. He added that the document seemed entirely
credible.
    "Altogether it looks good for Labour's election prospects,"
he said.
    An election is due before the end of September.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6378" NEWID="18626">
<DATE>18-JUN-1987 09:14:47.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2962&#31;reute
s f BC-&lt;BURKE-PARSONS-BOWLBY   06-18 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;BURKE-PARSONS-BOWLBY CORP> SETS QUARTERLY</TITLE>
<DATELINE>    RIPLEY, W.Va., June 18 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay Aug 14
    Record July 24
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6379" NEWID="18627">
<DATE>18-JUN-1987 09:16:39.15</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;f2970&#31;reute
u f BC-GENERAL-INSTRUMENT-CO   06-18 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL INSTRUMENT CORP &lt;GRL> 1ST QTR MAY 31</TITLE>
<DATELINE>    NEW YORK, June 18 -
    </DATELINE><BODY>Shr 37 cts vs eight cts
    Net 12.0 mln vs 5.1 mln
    Revs 280.1 mln vs 155.9 mln
    Backlog 625.7 mln vs 451.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6380" NEWID="18628">
<DATE>18-JUN-1987 09:16:54.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2972&#31;reute
r f BC-ACA-JOE-&lt;ACAJ.O>-ACCO   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ACA JOE &lt;ACAJ.O> ACCOUNTANT TO QUALIFY REPORT</TITLE>
<DATELINE>    SAN FRANCISCO, June 18 - </DATELINE><BODY>Aca Joe Inc said Touche Ross and
Co, intends to qualify its report on Aca Joe's year ended
January 31 because of uncertainty about the company's ability
as a going concern.
    The company, which had previously projected "substantial
losses" for fiscal 1987, said it now expects to report a loss
from operations of about five mln dlrs, or 35 cts a share, on
sales of about 23 mln dlrs. For fiscal 1986, Aca Joe reported a
profit of 860,998 dlrs.
    The company also said it is reviewing its alternatives with
its lenders and financial advisers.
    Aca Joe said it and Touche Ross have not yet resolved the
proper accounting treatment of certain assets on the company's
balance sheet.
    As a result of these unresolved issues, the company said,
it has been unable to finalize its audited financial statements
for fiscal 1987 and file its annual report on form 10-K with
the Securities and Exchange Commission. Aca Joe said it also
has been unable to comply with the SEC's timely filing
requirements of its 10-Q report for the quarter ended May 2.
   
    Involved in the dispute, Aca Joe said, is the
recoverability of intangible assets totalling about five mln
dlrs arising from the acquisition of Aca Joe Intercon Ltd and
Aca Joe Eastern Ltd, and the recoverability of about one mln
dlrs of ACA JOE trademark rights which were purchased by the
company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6381" NEWID="18629">
<DATE>18-JUN-1987 09:17:01.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2974&#31;reute
r f BC-CYTOGEN-&lt;CYTO.O>-HOLD   06-18 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>CYTOGEN &lt;CYTO.O> HOLDERS APPROVE PREFERRED STOCK</TITLE>
<DATELINE>    PRINCETON, N.J., June 18 - </DATELINE><BODY>Cytogen Corp said shareholders
at the annual meeting approved the authorization of 5,400,000
preferred shares and increased by 800,000 shares the number of
common shares that can be sold under its stock option plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6382" NEWID="18630">
<DATE>18-JUN-1987 09:17:29.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2978&#31;reute
r f BC-MULTI-LOCAL-MEDIA-&lt;ML   06-18 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>MULTI-LOCAL MEDIA &lt;MLMC.O> INITIAL OFFER STARTS</TITLE>
<DATELINE>     NEW YORK, June 18 - </DATELINE><BODY>Lead underwriters Kidder, Peabody and
Co Inc and Shearson Lehman Brothers Holdings Inc &lt;SHE> said an
initial public offering of two mln common shares of Multi-Local
Media Corp is underway at 10.50 dlrs a share.
    Underwriters have been granted an overallotment option to
purchase up to 300,000 more shares, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6383" NEWID="18631">
<DATE>18-JUN-1987 09:17:45.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F 
&#22;&#22;&#1;f2980&#31;reute
r f BC-cominco   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT> PLANS CANADIAN STOCK ISSUE</TITLE>
<DATELINE>    VANCOUVER, British Columbia, June 18 - </DATELINE><BODY>Cominco Ltd said it
plans to issue units in Canada containing common share purchase
warrants indexed to zinc and copper prices.
    Each unit will consist of one deferred retractable
redeemable share and one warrant, which will be indexed to
average market prices of zinc and copper on the exercise date.
    Issue size, timing and terms have not yet been determined.
    Cominco said it would use proceeds to reduce bank loans and
other short-term debt. Underwriters are Nesbitt Thomson Deacon
Inc, Dominion Securities Inc and Pemberton Houston Willoughby
Bell Gouinlock Inc.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6384" NEWID="18632">
<DATE>18-JUN-1987 09:17:54.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2981&#31;reute
d f BC-INTER-REGIONAL-&lt;IFG>   06-18 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>INTER-REGIONAL &lt;IFG> UNIT TO REDEEM NOTES</TITLE>
<DATELINE>    MINNEAPOLIS, June 18 - </DATELINE><BODY>Inter-Regional Financial Group Inc
said IFG Leasing Co, a discontinued subsidiary, will redeem,
effective August One, the 4.0 mln dlr outstanding balance of
its 11-1/2 pct subordinated notes due Aug 1, 1988.
    It said it also will redeem, effective September One, the
3.5 mln dlr outstanding balance of its 13 pct junior
subordinated notes due Sept 1, 1990.
    The company said it expects to redeem the final 4.2 mln
dlrs of its subordinated debt by the end of September.
    Separately, Inter-Regional Financial said it completed an
agreement with a group of banks for a new two-year 30 mln dlr
revolving credit facility.
    It said the agreement replaces its current 18 mln dlr
revolving credit agreement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6385" NEWID="18633">
<DATE>18-JUN-1987 09:18:20.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2984&#31;reute
r f BC-ENVIRONMENTAL-POWER-&lt;   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>ENVIRONMENTAL POWER &lt;POWR.O> TO OFFER SHARES</TITLE>
<DATELINE>    BOSTON, June 18 - </DATELINE><BODY>Environmental Power Corp said it has
filed for an offering of two mln common shares through
underwriters led by Drexel Burnham Lambert Inc.
    The company said it will use 400,000 dlrs of the proceeds
to pay part of the purchase price for Milesburg Energy Inc and
the rest to repay up to one mln dlrs in short-term debt and for
general corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6386" NEWID="18634">
<DATE>18-JUN-1987 09:18:47.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2986&#31;reute
r f BC-BSD-MEDICAL-&lt;BSDM.O>   06-18 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>BSD MEDICAL &lt;BSDM.O> SELLS SECURITIES PRIVATELY</TITLE>
<DATELINE>    SALT LAKE CITY, June 18 - </DATELINE><BODY>BSD Medical Corp said it has
received 1,400,000 dlrs of equity capital from the private sale
of securities to two investment partnerships and director Alan
L. Himber.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6387" NEWID="18635">
<DATE>18-JUN-1987 09:20:01.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f2989&#31;reute
r f BC-AMERICAN-BIOMATERIALS   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN BIOMATERIALS &lt;ABCI.O> IN RIGHTS OFFER</TITLE>
<DATELINE>    PRINCETON, N.J., June 18 - </DATELINE><BODY>American Biomaterials Corp said
it will issue one transferable right to each shareholder of
record yesterday for each three shares held.
    It said each of the 2,920,280 rights allows the holder to
buy one common share for three dlrs until July 15 expiration.
    The company said Hallwood Group Inc &lt;HWG> has agreed to buy
all shares not purchased in the rights offering, except those
connected with rights issued to current and former directors
owning a 30.2 pct interest.  Persons exercising rights will be
able to oversubscribe, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6388" NEWID="18636">
<DATE>18-JUN-1987 09:24:42.01</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3003&#31;reute
f f BC-LINCOLN-TELECOM   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LINCOLN TELECOMMUNICATIONS RAISES DIVIDEND, VOTES
TWO-FOR-ONE SPLIT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6389" NEWID="18637">
<DATE>18-JUN-1987 09:27:27.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G 
&#22;&#22;&#1;f3008&#31;reute
r f BC-DUTCH-BUTTER-CONSUMPT   06-18 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH BUTTER CONSUMPTION UP, MARGARINE LOWER</TITLE>
<DATELINE>    ROTTERDAM, June 18 - </DATELINE><BODY>Dutch butter consumption rose at the
expense of margarine last year partly because of the European
Community's (EC) cheap butter schemes, the Commodity Board for
Margarine, Fats and Oils (MVO), said.
    Butter consumption rose to 4.1 kilos per head in 1986 from
four kilos in 1985, while margarine consumption including low
fat margarine, fell to 14 kilos per head from 14.3 kilos.
    The low fat margarine figure remained static at 2.6 kilos
per head, while ordinary margarine fell from 11.7 kilos per
head to 11.4 kilos.
    However, cheap butter schemes may not be the only
contributory factor in the changes. The MVO figures show a
fairly steady rise in total butter consumption and fall in
margarine consumption since 1973.
    A graph produced in the MVO annual report shows total Dutch
margarine consumption in 1973 at just under 210,000 tonnes
against around 165,000 in 1986.
    The same graph shows total butter consumption in 1973 at
just over 30,000 tonnes compared with just short of 60,000
tonnes last year.
    However, during the same period total Dutch edible fat and
oil consumption on a fat content basis has risen from around
345,000 tonnes to 360,000 tonnes, or an average of 24.8 kilos
per head in 1986.
    The graph shows that most of the increase has come from
butter and household cooking oil usage.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6390" NEWID="18638">
<DATE>18-JUN-1987 09:27:39.91</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;f3010&#31;reute
u f BC-MR.-ROOTER-&lt;ROOT.O>-R   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>MR. ROOTER &lt;ROOT.O> RESCINDS UNITED WESTERN PACT</TITLE>
<DATELINE>    OKLAHOMA CITY, June 18 - </DATELINE><BODY>Mr. Rooter Corp said it rescinded
a recent agreement calling for &lt;United Western Energy Corp> to
to buy a majority of Mr. Rooter's stock for four dlrs a share.
    The company said it has also demanded repayment of a
150,000 dlr loan made to United Western.
    Since announcing the agreements, Mr. Rooter said, it
discovered additional information relating to United Western
and the unaffiliated privately held corporation which had
guaranteed all of United Western's obligations under the
agreements.
    Mr. Rooter said the agreements were rescinded d"in light of
this additional information," without providing details.
    It said talks are in progress with United Western with
regard to the repayment terms of the loan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6391" NEWID="18639">
<DATE>18-JUN-1987 09:28:51.49</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3013&#31;reute
f f BC-COMPUTER-DEPOT   06-18 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COMPUTER DEPOT SAID IT WILL CEASE OPERATIONS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6392" NEWID="18640">
<DATE>18-JUN-1987 09:31:59.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3021&#31;reute
b f BC-LINCOLN-TELECOM-&lt;LTEC   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>LINCOLN TELECOM &lt;LTEC.O> VOTES INCREASE, SPLIT</TITLE>
<DATELINE>    LINCOLN, NEB., June 18 - </DATELINE><BODY>Lincoln Telecommunications Co said
its directors voted to increase the quarterly dividend to 58
cts a share from 55 cts payable July 10, record June 30.
    The company also said its board voted a two-for-one stock
split to holders of record July 31.
    Lincoln Telecommunications said during the second quarter
holders of 8.9 mln dlrs of its subordinated convertible notes
had, in response to notice of prpeayment issued by the company,
converted their holdings to 273,844 shares of common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6393" NEWID="18641">
<DATE>18-JUN-1987 09:32:13.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3024&#31;reute
s f BC-C.R.I.-INSURED-MORTGA   06-18 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>C.R.I. INSURED MORTGAGE INVESTMENTS &lt;CRM> PAYOUT</TITLE>
<DATELINE>    ROCKVILLE, Md., June 18 -
    </DATELINE><BODY>Mthly div 16-1/2 cts vs 16-1/2 cts prior
    Pay Aug 15
    Record June 30
    NOTE: C.R.I. Insured Mortgage Investments LP.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6394" NEWID="18642">
<DATE>18-JUN-1987 09:33:16.05</DATE>
<TOPICS><D>grain</D><D>rice</D><D>sugar</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T G 
&#22;&#22;&#1;f3029&#31;reute
r f BC-INDONESIA-REJECTS-WOR   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA REJECTS WORLD BANK FARM REFORM IDEAS</TITLE>
<DATELINE>    JAKARTA, June 18 - </DATELINE><BODY>Indonesia rejected World Bank
recommendations for sweeping reforms to its farm economy, as
the country's foreign aid donors met to consider giving it 2.5
billion dlrs in grants and soft loans.
    Agriculture Minister Achmad Affandi, in written remarks
distributed today as Indonesia's 14 foreign donor nations met
at The Hague, said, "The general argument presented by the Bank
for this free trade, open economy view is weak."
    The Bank called for overhauls in how Indonesia manages the
largest farm area in South-east Asia, and said agricultural
growth was stagnating under subsidies for rice farming.
    The Bank report said Indonesia's rice production had peaked
and the subsidies are a waste of money.
    Affandi replied that rice is the main staple and provides
an income for 17 pct of the workforce. The subsidies were
needed to support the fertilizer industry, including importers,
exporters, producers and distributors, he said, as well as
assisting in small part the majority of Indonesian farmers.
    Affandi agreed with a bank recommendation that farmers
should be free to choose their own crops, but he said the
government would continue to maintain production targets for
"strategic commodities" such as rice and sugar.
    The Bank report was especially critical of Indonesia's
drive to plant sugar, saying domestic sugar prices are double
the world average because of inefficiencies, and the country
would save money by importing the commodity.
    However, Affandi said volatile world sugar prices, the need
to save foreign exchange and an already up-and-running sugar
industry were good arguments for continuing the sugar drive.
    He also said import barriers and trade monopolies in the
agricultural sector were needed to help domestic industry
develop and because of "over-production and price intervention
in the developed nations."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6395" NEWID="18643">
<DATE>18-JUN-1987 09:34:01.09</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3035&#31;reute
f f BC-GILLETTE-SAYS-R   06-18 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GILLETTE SAYS REVLON ASKED ITS BOARD TO CONSENT TO 40.50
DLRS PER SHARE OFFER
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6396" NEWID="18644">
<DATE>18-JUN-1987 09:35:53.14</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3044&#31;reute
f f BC-LIBERTY-FINANCI   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LIBERTY FINANCIAL SAYS IT AGREES TO BE ACQUIRED BY
EQUIMARK FOR 48 DLRS PER SHARE
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6397" NEWID="18645">
<DATE>18-JUN-1987 09:35:58.12</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3045&#31;reute
f f BC-PRICE-CO-3RD-QT   06-18 0007</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PRICE CO 3RD QTR SHR 30 CTS VS 24 CTS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6398" NEWID="18646">
<DATE>18-JUN-1987 09:38:25.52</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;f3053&#31;reute
u f BC-PRICE-CO-&lt;PCLB.O>-3RD   06-18 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>PRICE CO &lt;PCLB.O> 3RD QTR JUNE SEVEN NET</TITLE>
<DATELINE>    SAN DIEGO, June 18 -
    </DATELINE><BODY>Shr 30 cts vs 24 cts
    Net 14.7 mln vs 11.3 mln
    Sales 738.9 mln vs 605.1 mln
    Avg shrs 49.0 mln vs 47.9 mln
    Nine mths
    Shr 1.11 dlrs vs 93 ctsd
    Net 54.2 mln vs 42.9 mln
    Sales 2.45 billion vs 1.95 billion
    Avg shrs 48.9 mln vs 46.4 mln
    NOTE: Twelve- and 40-week periods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6399" NEWID="18647">
<DATE>18-JUN-1987 09:38:57.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3055&#31;reute
s f BC-FIRSTCORP-INC-&lt;FCR>-S   06-18 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRSTCORP INC &lt;FCR> SETS QUARTERLY</TITLE>
<DATELINE>    RALEIGH, N.C., June 18 -
    </DATELINE><BODY>Qtly div nine cts vs nine cts prior
    Pay July 31
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6400" NEWID="18648">
<DATE>18-JUN-1987 09:39:20.37</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3058&#31;reute
r f BC-MEDCHEM-PRODUCTS-INC   06-18 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDCHEM PRODUCTS INC &lt;MDCH.O> 3RD QTR NET</TITLE>
<DATELINE>    ACTION, Mass., June 18 - </DATELINE><BODY>Qtr ends May 31
    Shr 20 cts vs eight cts
    Net 509,043 dlrs vs 202,473 dlrs
    Revs 2,106,462 dlrs vs 1,158,621 dlrs
    Nine mths
    Shr 58 cts vs 50 cts
    Net 1,465,271 dlrs vs 1,240,773 dlrs
    Revs 5,854,819 dlrs vs 4,640,687 dlrs
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6401" NEWID="18649">
<DATE>18-JUN-1987 09:39:51.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3063&#31;reute
r f BC-CEDAR-FAIR-LP-&lt;FUN>-S   06-18 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>CEDAR FAIR LP &lt;FUN> SETS INITIAL DIVIDEND</TITLE>
<DATELINE>    SANDUSKY, Ohio, june 18 - </DATELINE><BODY>Cedar Fair LP said its board
declared an initial prorated quarterly dividend of 17 cts per
share, payable August 14 to holders of record June 30.
    The partnership said it expects distributions for the third
and fourth quarters to meet the rate of 26-1/4 cts it had
predicted previously.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6402" NEWID="18650">
<DATE>18-JUN-1987 09:40:14.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3064&#31;reute
b f BC-COMPUTER-DEPOT-&lt;CDPT.   06-18 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER DEPOT &lt;CDPT.O> TO CEASE OPERATIONS</TITLE>
<DATELINE>    EDEN PRAIRIE, MINN., June 18 - </DATELINE><BODY>Computer Depot Inc said it
will cease operations and liquidate its assets.
    The decision results from the termination of the company's
line of credit by its asset-based lender and demand by the
lender for immediate payment of all amounts due, it said.
    Computer Depot said it will stop trading in its shares.
Upon liquidation of the company, no accounts are expected to be
available for distribution to shareholders after payments to
creditors, it said.
    In December 1985, Computer Depot, which sold personal
computer systems and software, filed for reorganization under
Chapter 11 of the U.S. Bankruptcy Code. Its plan of
reorganization was approved in December 1986.
    The company said that yesterday, after demand by its
lender, it agreed to voluntarily surrender its inventory,
accounts receivable and other collateral.
    Operations are dependent upon financing and efforts to
obtain financing, including potential buyers and merger
candidates, have been unsuccessful, it said. Computer Depot
said the company will eventually be liquidated.
    Computer Depot reported a loss of 591,000 dlrs for its
second fiscal quarter ended May 2, 1987, after showing a profit
of 237,000 dlrs for its first quarter, which included the
Christmas selling season.
    The company previously reported that sales and margins
after January had been below expectations, due to uncertainty
in the in the retail market following recent product
announcements by International Business Machines &lt;IBM>.
    Computer Depot auditors, Arthur Andersen and Co, qualified
its recent financial statements citing several risks in the 
company's ability to continue as a going concern.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6403" NEWID="18651">
<DATE>18-JUN-1987 09:41:04.22</DATE>
<TOPICS><D>crude</D><D>nat-gas</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;f3068&#31;reute
u f BC-WESTCOAST-&lt;WTC>-TO-AC   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTCOAST &lt;WTC> TO ACQUIRE AGIP PROPERTIES</TITLE>
<DATELINE>    VANCOUVER, British Columbia, June 18 - </DATELINE><BODY>Westcoast
Transmission Co Ltd said it agreed to acquire the Western
Canada oil and gas reserves and properties of AGIP Canada Ltd,
a subsidiary of AGIP SpA, part of Italy's ENI group, for 54 mln
Canadian dlrs.
    At the end of 1986, AGIP Canada reported proven and
probable reserves of 4.2 mln barrels of crude oil and natural
gas liquids and 22.7 billion cubic feet of natural gas. AGIP
Canada also holds 176,000 net exploratory acres in Western
Canada. Its properties produce about 1,100 barrels of oil a
day.
    The deal is subject to approval by both companies'
directors.
    Westcoast said the acquisition would enable it to apply
more than 150 mln dlrs of accumulated tax pools of AGIP Canada
Ltd to enhance after-tax cash flow from the acquired
properties.
    AGIP Canada said it would retain offshore exploration
blocks in Labrador, a gold mine in Yukon Territory and uranium
interests in Saskatchewan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6404" NEWID="18652">
<DATE>18-JUN-1987 09:41:12.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3069&#31;reute
u f BC-GREAT-WESTERN-&lt;GWF>-O   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT WESTERN &lt;GWF> OFFERS 2.5 MLN COMMON SHARES</TITLE>
<DATELINE>    BEVERLY HILLS, June 18 - </DATELINE><BODY>Great Western Financial Corp said
it is offering 2,513,200 common shares at a price of 20.625
dlrs per share.
    The company said the shares are being offered in connection
with the conversion of SunPoint Savings Bank FSB of Lake Worth
Fla to stock from mutual form and its simultaneous merger into
Great Western Bank, a federal savings bank owned by Great
Western Financial.
    Great Western Bank said it has received Federal Home Loan
Bank Board approval to acquire SunPoint Savings, which has
assets of about 730 mln dlrs.
   
    Great Western noted the conversion merger recently won the
approval of 94 pct of SunPoint's members -- a group comprising
the depositors and borrowers of that company. The merger is
expected to be completed by June 25.
    Great Western said depositors and employees of SunPoint
will purchase 56,500 shares of Great Western's common at the
same price in a subscription offering. Proceeds of both the
public and subscription offerings will be contributed to Great
Western Bank and used in its lending operations.
    The offering will be underwritten by Shearson Lehman
Brothers Inc and Goldman Sachs and Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6405" NEWID="18653">
<DATE>18-JUN-1987 09:42:26.51</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L 
&#22;&#22;&#1;f3072&#31;reute
u f BC-slaughter-guesstimate   06-18 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 262,000 to 275,000 head versus
278,000 week ago and 277,000 a year ago.
    Cattle slaughter is guesstimated at about 126,000 to
130,000 head versus 131,000 week ago and 132,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6406" NEWID="18654">
<DATE>18-JUN-1987 09:43:36.98</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;f3075&#31;reute
r f BC-LOMAS-AND-NETTLETON-&lt;   06-18 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>LOMAS AND NETTLETON &lt;LNF> TO MAKE ACQUISITION</TITLE>
<DATELINE>    DALLAS, June 17 - </DATELINE><BODY>Lomas and Nettleton Financial Corp said
it has agreed in principle to acquire Houston discount
brokerage firm Texas First Brokerage Services Inc for
undisclosed terms, subject to regulatory approvals.
    It said completion is expected by July 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6407" NEWID="18655">
<DATE>18-JUN-1987 09:45:12.75</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y E 
&#22;&#22;&#1;f3078&#31;reute
f f BC-SHELL-CANADA-RA   06-18 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SHELL CANADA RAISES CRUDE OIL POSTING 32 CANADIAN CTS/BBL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6408" NEWID="18656">
<DATE>18-JUN-1987 09:45:19.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f3079&#31;reute
b f BC-NO-FRENCH-EXPORT-REQU   06-18 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>NO FRENCH EXPORT REQUESTS FOR EC CEREAL TENDER</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>French operators did not request any
export licences at today's European Community weekly cereal
tender, trade sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6409" NEWID="18657">
<DATE>18-JUN-1987 09:46:04.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y 
&#22;&#22;&#1;f3082&#31;reute
u f BC-BP-CANADA-&lt;BPC.TO>-PR   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>BP CANADA &lt;BPC.TO> PROCEEDING WITH PROJECT</TITLE>
<DATELINE>    CALGARY, Alberta, June 18 - </DATELINE><BODY>BP Canada Inc, 64 pct-owned by
British Petroleum Co PLC, said it and state-owned Petro-Canada
were proceeding with Wolf Lake 2, the second phase of a
bitumen-recovery project in Wolf Lake, Alberta.
    The expansion, with an estimated pre-start up cost of 200
mln dlrs, will add 15,000 barrels a day to current capacity of
8,000 barrels a day.
    Construction will start in early 1988, with 248 wells
drilled initially and 975 more wells to be added over the
project's 25-year life, BP Canada said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6410" NEWID="18658">
<DATE>18-JUN-1987 09:46:18.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3083&#31;reute
b f BC-LIBERTY-FINANCIAL-ANN   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBERTY FINANCIAL ANNOUNCES MERGER WITH EQUIMARK</TITLE>
<DATELINE>    HORSHAM, Pa., June 18 - </DATELINE><BODY>Liberty Financial Group Inc, the
parent of Liberty Savings Bank said it has signed a definitive
agreement to be acquired by Equimark Corp &lt;EQK>, the parent of
Equibank, for 48 dlrs a share of Liberty.
    The transaction is structured as a merger of Liberty with a
duly-formed unit of Equimark, the company said.
    Liberty shareholders will receive about 48 dlrs per share
uopn the merger, the company said.
    According to the companies, the acquisition is contingent
upon the approval of Liberty's shareholders and the appropriate
regulatory authorities.
   
    Liberty said the acquisition of its unit, Liberty Savings
Bank, by Equimark Corp, will result in the bank operating as a
separate wholly owned unit of Equimark.
    Charles Cheleden, chairman and president of Liberty
Financial and Liberty Savings, will continue as president and
chief executive officer of Liberty Savings, headquartered in
Horsham, Pa., the company said.
    Liberty said it feels that the price of 48 dlrs in cash per
share is attractive and that it has advised by Shearson Lehman
Brothers that the price is fair.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6411" NEWID="18659">
<DATE>18-JUN-1987 09:46:48.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3084&#31;reute
r f BC-GE-&lt;GE>-GETS-250-MLN   06-18 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>GE &lt;GE> GETS 250 MLN DLR ENGINE ORDER</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>General Electric Co said it has
received contracts worth 250 mln dlrs, including options, to
supply its CF6-80C2 engines for the 747-400 and MD-11 airliners
ordered from Boeing Co &lt;BA> and McDonnell Douglas Corp &lt;MD>
respectively by Thai Airways International.
    The company said it also received a 16 mln dlr order from
Thai Air for CF6-50 engines on a McDonnell Douglas DC-10 Series
30.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6412" NEWID="18660">
<DATE>18-JUN-1987 09:48:34.16</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;f3089&#31;reute
b f BC-/GILLETTE-&lt;GS>-GETS-O   06-18 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>GILLETTE &lt;GS> GETS OFFER FROM REVLON &lt;REV></TITLE>
<DATELINE>    BOSTON, June 18 - </DATELINE><BODY>Gillette Co said Revlon Group made an
unsolicited request, asking the Gillette board to allow Revlon
to make a cash offer for all Gillette shares of at least 40.50
dlrs per share.
    Gillette said consent for the bid is required under a
standstill agreement between Revlon and Gillette before Revlon
can make any move on Gillette's stock.
    In November 1986, Revlon made an unsolicited offer for
Gillette shares, Gillette said.
    Subsequently, Revlon withdrew its offer, sold back to
Gillette the shares it owned at that time and entered into the
standstill agreement.
    The Gillette board of directors has a regularly scheduled
meeting this afternoon, and Gillette said it anticipates making
a statement after that meeting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6413" NEWID="18661">
<DATE>18-JUN-1987 09:53:56.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f3104&#31;reute
u f AM-BRAZIL-STRIKE   06-18 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZILIAN UNION PROPOSES GENERAL STRIKE</TITLE>
<DATELINE>    SAO PAULO, June 18 - </DATELINE><BODY>The national executive of Brazil's
most militant trade union group has proposed a general strike
for July 15 in protest at the government's austerity program.
    A spokeswoman for the Workers' Confederation (CUT) told
Reuters the proposal would be discussed within the trade union
movement. On Friday the government of President Jose Sarney
introduced austerity measures to try to combat the country's
high inflation rate, currently running at more than 1,000 pct a
year.
    It scrapped a trigger mechanism which had guaranteed
regular pay rises in line with high inflation.
    Trade unions say real wages are dropping by about a third.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6414" NEWID="18662">
<DATE>18-JUN-1987 09:56:11.47</DATE>
<TOPICS></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;f3114&#31;reute
u f AM-BRAZIL-STRIKE   06-18 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL UNION PROPOSES GENERAL STRIKE FOR JULY 15</TITLE>
<DATELINE>    SAO PAULO, June 18 - </DATELINE><BODY>The national executive of Brazil's
most militant trade union group has proposed a general strike
for July 15 in protest at the government's austerity program.
    A spokeswoman for the Workers' Confederation, CUT, told
Reuters today that the proposal would be discussed within the
trade union movement.
    On Friday the government of President Jose Sarney
introduced austerity measures to try to combat the country's
high inflation rate, currently running at more than 1,000 pct a
year.
    The new plan scrapped a "trigger" mechanism which had
guaranteed regular pay rises in line with high inflation.
    Trade unions say real wages are dropping by about a third.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6415" NEWID="18663">
<DATE>18-JUN-1987 09:56:31.48</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3115&#31;reute
u f BC-BECOR-WESTERN-&lt;BCW>-T   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BECOR WESTERN &lt;BCW> TALKS TO FOURTH BIDDER</TITLE>
<DATELINE>    SOUTH MILWAUKEE, Wis., June 18 - </DATELINE><BODY>Becor Western Inc said it
is talking with a possible fourth bidder for the company.
    The company also said Lynch Corp &lt;LGL> has renewed its
offer for Becor which was withdrawn last week.
    Talks with the possible bidder are expected to be concluded
shortly, Becor said, adding its board will evaluate all then
existing offers at that time.
    In the meantime, the company said, it plans today to
adjourn further its meeting of stockholders to June 30. That
meeting was called to act on a merger agreement calling for a
buyout by BCW Acquisitions Inc.
    The third identified Becor suitor is &lt;Davis Mining and
Manufacturing Inc>.
    In Fairfield, N.J., Lynch said its latest proposal calls
Lynch to own 75 pct of Becor's stock and Becor holders to
retain the other 25 pct.
    Peviously, Lynch would have held about 25 pct, with Becor
holders receiving 25 pct and Becor management about half.
    Lynch said the proposal was changed because it believes
Becor's management "needs more guidance in terms of financial
structuring.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6416" NEWID="18664">
<DATE>18-JUN-1987 10:00:07.10</DATE>
<TOPICS><D>income</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f3121&#31;reute
f f BC-U.S.-PERSONAL-I   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. PERSONAL INCOME ROSE 0.2 PCT IN MAY, SPENDING UP 0.1
PCT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6417" NEWID="18665">
<DATE>18-JUN-1987 10:01:35.87</DATE>
<TOPICS><D>income</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM 
&#22;&#22;&#1;f3123&#31;reute
b f BC-/U.S.-PERSONAL-INCOME   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. PERSONAL INCOME ROSE 0.2 PCT IN MAY</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>U.S. personal income rose 0.2 pct, or
7.9 billion dlrs, in May to a seasonally adjusted annual rate
of 3,630.0 billion dlrs, the Commerce Department said.
    The increase followed a revised 0.4 pct rise in April. The
department previously estimated April income rose 0.3 pct.
    The department also revised up the March personal income
rise to 0.3 pct from a previously reported 0.2 pct.
    Personal consumption expenditures rose 0.1 pct, or 1.5
billion dlrs, to 2,893.3 billion dlrs in May after rising 0.6
pct or 18.6 billion dlrs in April, the department said.
    The department said both the April and May increases in
personal income were restrained by lower subsidy payments to
farmers and by initial payments to a newly established
retirement fund for federal government employees in April.
    Wages and salaries increased 8.8 billion dlrs in May after
a 7.0 billion dlr rise in April, while manufacturing payrolls
were up 1.6 billion dlrs in May after falling 1.3 billion dlrs
in April.
    Farmers' incomes fell 11 billion dlrs in May after
decreasing 6.7 billion dlrs in April due to lower farm subsidy
payments, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6418" NEWID="18666">
<DATE>18-JUN-1987 10:02:33.23</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3128&#31;reute
f f BC-BELL-AND-HOWELL   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BELL AND HOWELL SAYS IT SEES EARNINGS PER SHARE GROWTH OF
12-15 PCT THROUGH 1990
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6419" NEWID="18667">
<DATE>18-JUN-1987 10:03:56.03</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;f3135&#31;reute
h f BC-S.-AND-W.-BERISFORD-W   06-18 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>S. AND W. BERISFORD WANTS TO STAY INDEPENDENT</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>S.And W. Berisford Plc &lt;BRFD.L>, which
has attracted takeover bids, is making every possible effort to
remain independent, deputy chairman Henry Lewis said after the
company announced interim results.
    "We've taken specific steps to strengthen ourselves for this
purpose," he added, referring to management changes and a
corporate strategy of concentrating on four business sectors.
    Berisford aims to produced balanced earnings growth from a
combination of commodities, property, financial services and
food. Its industrial division, with assets of about 90 mln stg
including debt, is being reviewed and parts may be sold.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6420" NEWID="18668">
<DATE>18-JUN-1987 10:07:33.87</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM 
&#22;&#22;&#1;f3144&#31;reute
f f BC-FED'S-SEGER-SAY   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED'S SEGER SAYS FOREIGN EXCHANGE MARKETS SHOWING SIGNS
OF STABILITY
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6421" NEWID="18669">
<DATE>18-JUN-1987 10:08:22.54</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f3149&#31;reute
f f BC-FED'S-SEGER-SAY   06-18 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED'S SEGER SAYS U.S. ECONOMIC RECOVERY SHOWS WEAKNESS

</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6422" NEWID="18670">
<DATE>18-JUN-1987 10:12:15.90</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f3162&#31;reute
f f BC-FED'S-SEGER-SAY   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED'S SEGER SAYS U.S. THRIFT INDUSTRY NEEDS STABLE
INTEREST RATES
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6423" NEWID="18671">
<DATE>18-JUN-1987 10:12:20.14</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F 
&#22;&#22;&#1;f3163&#31;reute
b f BC-CANADA-PANEL-RE   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADA PANEL REJECTS HYDRO QUEBEC BID FOR 3 BILLION DLR
NEW ENGLAND POWER SALE
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6424" NEWID="18672">
<DATE>18-JUN-1987 10:13:26.02</DATE>
<TOPICS><D>interest</D><D>reserves</D><D>jobs</D><D>income</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3166&#31;reute
u f BC-U.K.-DATA-DEPRESS-RAT   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. DATA DEPRESS RATE CUT OUTLOOK - ANALYSTS</TITLE>
<AUTHOR>    By Rowena Whelan, Reuters</AUTHOR>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Today's U.K. Economic data have pushed
the chances of another base lending rate cut from the current
nine pct further into the distance, analysts said.
    A record fall in unemployment and good manufacturing
production data showed that the economy is still strong and
does not need a fillip from lower rates.
    News that underlying earnings are rising 7.75 pct annually,
taken together with higher than expected bank lending and money
supply growth, revived inflation worries and monetarist
arguments against easier credit, they said.
    "The timetable on lower interest rates is being pushed back
all the while. The strength of the economy and broad money
growth are making it more difficult to see one in the near
term," said Chase Manhattan Securities economist Robin Marshall.
    Analysts have reached this conclusion despite yesterday's
mortgage rate cuts for new borrowers, which building societies
said were a sign of the expected near term trend for U.K.
Rates.
    It also counters the optimistic forecasts of last week that
a post-general election cut was imminent, supported by such
optimistic economic news as May's record reserves rise which
mirrored the Bank of England efforts to cap sterling's
strength.
    The gilt market lost nearly half a point as enthusiasm
about May's 64,300 fall in the seasonally adjusted unemployment
rate, to 2.95 mln or 10.6 pct of the workforce, was rapidly
replaced by dismay at the continued high level of underlying
average earnings in April, dealers said.
    The upset was compounded by news that sterling bank lending
rose 2.7 billion stg in May, above forecast, and that the Bank
of England looks likely to have to sell more gilts to offset
the impact on domestic money supply of its current
intervention.
    "The gilt market reaction was correct," said Bill Martin,
chief U.K. Economist at brokers Phillips and Drew.
    "That's very important ... It shows the economy in a very
good state indeed," Skeoch said.
    "There's no reason to get worries about inflationary
pressures because they're very subdued." Unit wage cost rises
were better than expected, just one pct higher in the year to
April, and it was these costs rather than average earnings
which were potentially inflationary, he added.
    "I don't think these average earnings numbers are a major
problem," agreed Chase Manhattan's Marshall.
    But he said the gilts market was likely to remain worried
about the funding implications of recent intervention.
    He said the inflow of foreign money into sterling assets
earlier this year, attracted by growth prospects and hopes that
the ruling Conservatives would win last week's election, now
looks likely to prevent a base rate cut as the authorities try
to prevent these funds swelling the domestic money system.
    However, David Owen, U.K. Economist at Kleinwort Grieveson
Securities, said any fresh sterling strength would still
trigger a base rate cut and that today's figures did not signal
higher inflation this year.
    "Wage increases are being offset by productivity growth. As
long as that continues we're okay," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6425" NEWID="18673">
<DATE>18-JUN-1987 10:14:02.26</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3169&#31;reute
b f BC-CANADA-PANEL-RE   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADA PANEL REJECTS HYDRO QUEBEC BID FOR 3 BILLION DLR
NEW ENGLAND POWER SALE
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6426" NEWID="18674">
<DATE>18-JUN-1987 10:15:17.31</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;f3170&#31;reute
b f BC-/FED-GOVERNOR-SEGER-S   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>FED GOVERNOR SEGER SEES CURRENCY STABILITY</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Federal Reserve Board Governor Martha
Seger said there were signs of helpful stability in foreign
exchange markets in recent weeks.
    "I think we are beginning to see more calm in those markets,"
Seger told reporters after a speech to the U.S. League of
Savings Institutions.
    "I think it is very healthy when you can get into a period
of stability," she said.
    She said market forces have a major influence on exchange
rates and said she did not know the right value for the dollar
against the Yen or the Mark.
    Seger told the Savings and Loan executives that she was
concerned about financial markets' absorption with exchange
rate influences.
    "I am concerned that we have gotten so nervous," about
exchange rates, Seger said.
    She said the Fed takes into account additional factors in
determining monetary policy than the value of the dollar
against other currencies.
    On the economy, Seger called the latest figures in gross
national product a modest upward revision.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6427" NEWID="18675">
<DATE>18-JUN-1987 10:16:54.05</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3177&#31;reute
b f BC-GM-LAYING-OFF-8   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GM LAYING OFF 850 HOURLY WORKERS TO CUT OUTPUT AT
JANESVILLE AND LORDSTOWN PLANTS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6428" NEWID="18676">
<DATE>18-JUN-1987 10:18:19.28</DATE>
<TOPICS><D>livestock</D></TOPICS>
<PLACES><D>usa</D><D>indonesia</D><D>turkey</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L 
&#22;&#22;&#1;f3188&#31;reute
d f BC-INDONESIA/TURKEY-ELIG   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA/TURKEY ELIGIBLE FOR CATTLE UNDER EEP</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>U.S. exporters will be able to sell
8,000 head of dairy cattle to Indonesia and 5,000 head to
Turkey under the Export Enhancement Program, the U.S.
Agriculture Department said.
    The export sales will be subsidized with commodities from
the inventory of the Commodity Credit Corporation (CCC), the
department said.
    Indonesia and Turkey already have purchased 7,500 and 5,000
head of dairy cattle, respectively, under the program.
    Details of the program and an invitation for offers from
exporters will be issued in the near future, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6429" NEWID="18677">
<DATE>18-JUN-1987 10:19:25.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3196&#31;reute
u f BC-COUPON-FIXED-AS-INDIC   06-18 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>COUPON FIXED AS INDICATED ON WACOAL WARRANT BOND</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>The coupon on the 80 mln ECU, five year
equity warrant eurobond for Japan's Wacoal Corp has been fixed
at the indicated 1-1/2 pct, bookrunner Banque Paribas Capital
Markets said.
    The exercise price was set at 1,323 yen per share,
representing a premium of 2.56 pct over today's closing price
of 1,290 yen. The foreign exchange rate was set at 167.11 yen
to the ECU.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6430" NEWID="18678">
<DATE>18-JUN-1987 10:20:21.53</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3198&#31;reute
f f BC-IMPERIAL-OIL-RA   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>IMPERIAL OIL RAISES CRUDE OIL POSTINGS 32 CANADIAN
CTS/BBL, LIGHT SWEET NOW 25.60

</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6431" NEWID="18679">
<DATE>18-JUN-1987 10:24:50.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3213&#31;reute
u f BC-BELL-AND-HOWELL-&lt;BHW>   06-18 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL AND HOWELL &lt;BHW> SEES EARNINGS GROWTH</TITLE>
<DATELINE>    chicago, June 18 - </DATELINE><BODY>Bell and Howell Co, in remarks prepared
for delivery to the New York Society of Security Analysts, said
it expects per-share earnings to grow in the 12-to-15 pct range
in the next three to four years.
    President Gerald Schultz said the growth is without stock
buybacks and tax law changes. He said the gain is expected off
1986 per-share earnings of 1.89 dlrs, calculated to exclude
DeVry Inc &lt;DVRY.O> operations and non-recurring gains totaling
45 cts a share.
    The company said its decision to sell the DeVry business to
Keller Graduate School of Management Inc will provide Bell and
Howell with a non-recurring gain of more than 4.00 dlrs a share
in the third quarter and about 80 mln dlrs in additional cash.
    "We will use proceeds of the transaction to repurchase
stock (probably at least 10 pct) and for other purposes, such
as reducing debt" Chairman Donald Frey told analysts.
    Bell and Howell said it will invest 16 mln dlrs this year
in electronic product development and introduction.
    It said a stepped-up investment in its IDB2000 electronic
storage system, which uses optical disks, will result in a 5.0
mln dlr loss for the product line, similar to last year. But it
said "the swing to profitability in 1988 for this product will
be significant."
    Currently, Bell and Howell is marketing the IDB2000 only to
General Motors Corp &lt;GM> dealers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6432" NEWID="18680">
<DATE>18-JUN-1987 10:27:06.33</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F 
&#22;&#22;&#1;f3224&#31;reute
b f BC-PHILLIPS-RAISES   06-18 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PHILLIPS RAISES CRUDE OIL POSTED PRICES 50 CTS/BBL
EFFECTIVE YESTERDAY, WTI NOW 19 DLRS.
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6433" NEWID="18681">
<DATE>18-JUN-1987 10:28:45.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3233&#31;reute
u f BC-DONORS-PLEDGE-3.15-BI   06-18 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>DONORS PLEDGE 3.15 BILLION DLRS INDONESIAN AID</TITLE>
<DATELINE>    THE HAGUE, June 18 - </DATELINE><BODY>Aid donors to Indonesia pledged a
total of 3.15 billion dlrs in fresh funds to Jakarta, a
statement issued after a two day meeting of the Inter
Governmental Group on Indonesia (IGGI) said.
    This compares with 2.6 billion dlrs allocated at last
year's meeting, the statement said. It is also well above the
World Bank's recommendation of 2.5 billion guilders in aid for
the coming year.
    "The Group commended Indonesia for having taken effective
steps to adjust to the changed economic environment," the
statement said.
    The statement said Indonesia must take further steps to set
the stage for resumed economic growth that could create
employment for the country's rapidly growing labour force.
    "These measures include additional significant trade and
industrial deregulation," the statement said.
    It also called for policies supporting efficient and
diversified growth of agriculture, and said Jakarta should give
more room to the private sector. It called on Indonesia to
mobilise more domestic resources to finance development
programs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6434" NEWID="18682">
<DATE>18-JUN-1987 10:30:27.38</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;f3239&#31;reute
u f BC-USAIR-&lt;U>-SAYS-DOT-PU   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>USAIR &lt;U> SAYS DOT PUBLIC COUNSEL BACKS MERGER</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>USAir Group Inc said the U.S.
Department of Transportation's Office of Public Counsel has
urged that expedited non-hearing procedures be used in its
proposed acquisition of Piedmont Aviation Inc &lt;PIE>.
    The company said that America West Airlines Inc &lt;AWAL.O>
was the only party voicing opposition to the acquisition.  The
Department of Transportation had asked parties to submit
statements by June 17 either supporting or opposing the
acquisition.
    USAir said it and Piedmont again requested expedited
approval for the acquisition.
    The company said the Office of Public Counsel could find no
evidence that the acquisition would substantially lessen
competition in any market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6435" NEWID="18683">
<DATE>18-JUN-1987 10:30:38.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>corrigan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F A 
&#22;&#22;&#1;f3241&#31;reute
u f BC-/N.Y.-FED-PRESIDENT-U   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Y. FED PRESIDENT URGES BANK REFORM</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>New York Federal Reserve President E.
Gerald Corrigan said he favors bank reform but wants to
maintain the separation of banking and commerce.
    "As I see it, the case for fundamental reform in our banking
and financial system is compelling," Corrigan told the Senate
Banking Committee.
    Corrigan said he believed bank reform should allow banks to
offer a broad range of banking and financial services.
    He said common ownership of banks, thrifts, securities
firms and insurance companies should be allowed but commercial
firms should not own or control insured depositories.
    Committee Chairman William Proxmire (D-Wisc) said he would
press for bank reform legislation this year and supported
giving banks new power for commercial paper, mortgage-backed
securities, municipal bond underwriting and mutual funds.
    Former Citicorp Chairman Walter Wriston said bank reform
should reflect the reality that other companies were offering
banking services such as checking accounts credit cards and
mortgages.
         
    "The reality is that there is one-stop financial shopping at
banks in some states, but not in others," Wriston said.
    "There is also one-stop financial shopping in all 50 states
at a Sears store or American Express office."
    "We must find ways for banks to deliver new products to new
customers in order to maintain a spread of risk in a business
that is rapidly losing traditional products and customers," he
said.
    But John Weinberg of Goldman, Sachs and Co said allowing
banks to enter the securities business would make banks too
powerful.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6436" NEWID="18684">
<DATE>18-JUN-1987 10:34:33.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3265&#31;reute
u f BC-SYSTEMS/COMPUTER-&lt;SCT   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>SYSTEMS/COMPUTER &lt;SCTC.O> IN SETTLEMENT</TITLE>
<DATELINE>    MALVERN, Pa., June 18 - </DATELINE><BODY>Systems and Computer Technology
Corp said it has received 4,879,000 dlrs from its former
directors' and officers' liability insurance carrier in
settlement of its claims for reimbursement of costs it incurred
in connection with a class action and other suits filed against
it from late 1984 through 1986.
    The company said the amount will be recorded as a gain in
its third quarter ending June 30, less a one mln dlr reserve
being established for continuing legal fees and other expenses
connected with ongoing litigation against its former president.
    The company said it is continuing to pursue the claims
against its former president in connection with events that
required the restatement of results for fiscal 1983 and the
first three quarters of fiscal 1984.
    It also said its largest client, Temple University, has
signed a new contract extending its use of Systems and Computer
as an information provider until June 30, 1992.
    The company said its backlog is now about 77 mln dlrs and
is composed mostly of multiyear facilities management contracts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6437" NEWID="18685">
<DATE>18-JUN-1987 10:34:44.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3267&#31;reute
u f BC-FEDERATED-DEPARTMENT   06-18 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERATED DEPARTMENT &lt;FDS> UNIT CUTTING STAFF</TITLE>
<DATELINE>    DALLAS, June 18 - </DATELINE><BODY>Federated Department Stores Inc's Foley's
unit said it will consolidate Dallas Distribution Center
operations, reducing the number of buildings to one from three
and cutting staff to 125 from 300.
    The company said most of the hourly employees affected by
the staff reduction will be offered comparable jobs at its
Houston distribution center, and those who cannot relocate will
be considered for available position at Foley's Dallas/Fort
Worth area stores.
    The company said "The overhead costs and inefficiencies
associated with operating two complete distribution networks in
both cities make it economically unfeasible."  The
consolidation follows the merger of Foley's and Sanger Harris
in January.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6438" NEWID="18686">
<DATE>18-JUN-1987 10:35:12.69</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM 
&#22;&#22;&#1;f3269&#31;reute
u f BC-FREEDOM-FEDERAL-&lt;FRFE   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>FREEDOM FEDERAL &lt;FRFE.O> SEEKS BUYER</TITLE>
<DATELINE>    OAK BROOK, ILL., June 18 - </DATELINE><BODY>Freedom Federal Savings Bank
said it hired Salomon Brothers Inc to solicit offers for the
purchase of the bank as part of an ongoing review of methods to
enhance shareholder value.
    Freedom Federal operates 15 retail branch banks and had
1986 year end assets of about 733 mln dlrs.
    "There is no assurance the bank will receive acceptable
offers or be sold, but we feel this is a prudent step to take
at this time," the bank said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6439" NEWID="18687">
<DATE>18-JUN-1987 10:35:49.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3275&#31;reute
u f BC-CONSECO-&lt;CNSC.O>-EMER   06-18 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSECO &lt;CNSC.O> EMERGES FROM BANKRUPTCY</TITLE>
<DATELINE>    LITTLE FERRY, N.J., June 18 - </DATELINE><BODY>Conseco Industries Ltd said
an order of confirmation of its reorganization plan has been
signed in its Chapter 11 bankruptcy proceedings, terminating
its status as a debtor in possession.
    Conseco said under the plan, general creditors and
debenture holders will receive 27 pct of their claims over a
two-year period and president Charles J. Trainor will pay
250,000 dlrs for 2,500,000 new shares.
    The company said debenture holders will have 30 days to
convert their debentures into common shares.
    It said it has arranged for two mln dlrs of new bank
financing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6440" NEWID="18688">
<DATE>18-JUN-1987 10:37:08.70</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f3285&#31;reute
u f BC-ARCO-&lt;ARC>-SPIN-OFF-S   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>ARCO &lt;ARC> SPIN-OFF SEEN AT 500 MLN DLRS</TITLE>
<AUTHOR>    By Samuel Fromartz, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Atlantic Richfield Co, considering a
spin-off of a 20 pct interest in its chemical operations, could
gain about 500 mln dlrs from the deal, industry analysts
estimated.
    Yesterday ARCO's stock jumped as much as five points on
rumors it was spinning off the chemical operations. Based on
about 183 mln outstanding shares, the market in its frenzy was
valuing the spin-off at about 900 mln dlrs, analysts said.
    Atlantic Richfield, aware of the rumors, issued a statement
around mid-day that it was considering a sale of only 20 pct of
the unit, leading investors to take profits.
    After the announcement, the company's stock retreated,
closing at 93-7/8, up 1-3/8. Today it was off 1/4.
    "It was a smaller deal than expected and somewhat
disappointing," said analyst George Baker at Smith Barney. He
said rumors of the spin-off had been around "for a couple of
days."
    Baker said the unit was very profitable but it wasn't
getting the type of exposure Atlantic Richfield sought, and its
value was not reflected in the company's stock price.
    Industry analyst Richard Pzena of Sanford C. Bernstein said
the unit had operating earnings of 132 mln dlrs last year and
he expected it to earn about 175 mln dlrs this year.
    Based on a multiple of 17 times earnings--which Pzena says
chemical companies now sell for--the entire unit is worth about
three billion dlrs, putting the 20 pct interest at around 500
to 600 mln dlrs.
    Pzena said he thought the company was selling the stake
because chemical margins had peaked, and he speculated the
company would use the proceeds to pay down debt.
    But he added the possibility remained the deal would fall
through. Yesterday, ARCO said the proposal had not yet been
presented to its board.
    The chemical unit last year had revenues of 1.9 billion
dlrs.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6441" NEWID="18689">
<DATE>18-JUN-1987 10:38:43.71</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y E 
&#22;&#22;&#1;f3291&#31;reute
b f BC-/SHELL-CANADA-&lt;SHC>-R   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL CANADA &lt;SHC> RAISES CRUDE 32 CTS CANADIAN</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Shell Canada &lt;SHC>, whose majority
interest is owned by the Royal Dutch/Shell Group of companies,
raised the postings of light sweet and sour crude oil from
Edmonton/Swann Hills 32 Canadian cts a barrel, effective today.
    The new price for light sweet crude oil is 25.60 Canadian
dlrs a barrel while the new price for light sweet sour crude is
24.08 Canadian dlrs a barrel.
    The Royal Dtuch/Shell Group owns 72 pct of Shell Canada and
public shareholders, primarily Canadian, own the remaining 28
pct of the company, a Shell Canada spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6442" NEWID="18690">
<DATE>18-JUN-1987 10:42:08.63</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T 
&#22;&#22;&#1;f3304&#31;reute
f f BC-ICCO-BUFFER-STOCK-MAN   06-18 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ICCO BUFFER STOCK MANAGER BUYS 2,000 TONNES - OFFICIAL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6443" NEWID="18691">
<DATE>18-JUN-1987 10:42:18.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3306&#31;reute
u f BC-ENERGY-CONVERSION-&lt;EN   06-18 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGY CONVERSION &lt;ENER.O> IN SUPERCONDUCTIVITY</TITLE>
<DATELINE>    TROY, MICH., June 18 - </DATELINE><BODY>Energy Conversion Devices Inc said
its scientists have achieved superconductivity at  a
temperature of 90 degrees Fahrenheit.
    The company said the general composition of the fluorinated
multi-phase superconducting material involved is yttrium,
barium, copper, fluorine and oxygen.
                         
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6444" NEWID="18692">
<DATE>18-JUN-1987 10:45:42.02</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F 
&#22;&#22;&#1;f3316&#31;reute
b f BC-UNION-PACIFIC-R   06-18 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UNION PACIFIC RAISES CRUDE OIL POSTINGS 50 CTS
A BBL, EFFECTIVE YESTERDAY, WTI TO 19 DLRS.
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6445" NEWID="18693">
<DATE>18-JUN-1987 10:48:29.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3325&#31;reute
s f BC-UNITED-JERSEY-BANKS-I   06-18 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED JERSEY BANKS INC &lt;UJB> SETS QUARTERLY</TITLE>
<DATELINE>    PRINCETON, N.J., June 18 -
    </DATELINE><BODY>Qtly div 21-1/2 cts vs 21-1/2 cts prior
    Pay Aug Three
    Reord July Seven
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6446" NEWID="18694">
<DATE>18-JUN-1987 10:48:32.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3326&#31;reute
s f BC-WESTERN-FEDERAL-SAVIN   06-18 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTERN FEDERAL SAVINGS BANK &lt;WFPR> SETS PAYOUT</TITLE>
<DATELINE>    MAYAGUEZ, Puerto Rico, June 18 -
    </DATELINE><BODY>Qtly div 15 cts vs 15 cts prior
    Pay July 15
    Reord June 30    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6447" NEWID="18695">
<DATE>18-JUN-1987 10:49:51.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C 
&#22;&#22;&#1;f3337&#31;reute
d f BC-CFTC'S-DAVIS-URGES-CA   06-18 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>CFTC'S DAVIS URGES CAUTION ON OFF-EXCHANGE ISSUE</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Regulations governing hedging and risk
management should be revised and development of new futures
instruments cautiously monitored in dealing with the growth of
off-exchange futures instruments, Robert Davis, a commissioner
on the Commodity Futures Trading Commission, CFTC, said.
    Davis told the Chicago chapter of the Futures Industry
Association Commodity Research Division last night "there is no
cause for undue alarm" in the growth of off-exchange
instruments.
    However, he said, the CFTC "must clarify jurisdictional and
regulatory issues" by maintaining the safeguards intended by
commodity regulations while encouraging "the further
development of competitive markets."
    "There is not a single off-exchange issue, there cannot be
one policy approach, and to the extent that problems exist,
there cannot be one solution," Davis said.
    The development of off-exchange instruments with futures
contract characteristics has become of increasing concern to
federal regulators who are trying to define what issues are
covered under existing regulations and where new regulations
are needed to protect private investment.
    Davis said the CFTC should step up enforcement where
off-exchange instruments are intended to compete with
exchange-traded issues, correct "regulatory inflexibility"
which may force new instruments off exchange, and "delineate
and separate those harmful off-exchange developments from the
many that are not."
    "We cannot ignore that some of the growth of off-exchange
trading represents a desirable further development of financial
forward contracts that complement, rather than compete with,
the relatively new financial futures contracts," Davis said.
    He said a CFTC task force is continuing its investigation
of the off-exchange issue.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6448" NEWID="18696">
<DATE>18-JUN-1987 10:50:08.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3338&#31;reute
u f BC-OLSTEN-CORP-&lt;OLS>-MAK   06-18 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>OLSTEN CORP &lt;OLS> MAKES EXCHANGE OFFER FOR STOCK</TITLE>
<DATELINE>    WESTBURY, N.Y., June 18 - </DATELINE><BODY>Olsten Corp &lt;OLS> said it has
begun an offer to exchange on a share-for-share basis shares of
newly authorized Class B common shares for existing common
stock.
    The company said the new Class B will contain limited
dividend rights and have 10 votes rather than one vote per
share for the common stock.
    It also said the new stock will not have a trading market,
will be subject to significant restrictions on its transfer,
will be entitled through 1989 to no more than 80 pct of the
cash dividends on the common stock and will be convertible into
common stock at any time.
    The company said it does not recommend that shareholdrs
other than chairman and chief executive William Olsten and his
family tender their common for exchange.
    The offer will expire July 16.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6449" NEWID="18697">
<DATE>18-JUN-1987 10:52:36.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3354&#31;reute
u f BC-GM-&lt;GM>-LAYING-OFF-85   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> LAYING OFF 850 WORKERS AT TWO PLANTS</TITLE>
<DATELINE>    DETROIT, June 18 - </DATELINE><BODY>General Motors Corp said it will
permanently lay off 850 hourly workers in August at its car
assembly plants in Janesville, Wisc, and Lordstown, Ohio, due
to production cutbacks in the slow-selling cars built at both
facilities.
    GM, the largest U.S. automaker but suffering from lower
sales for months, said 350 of the 3,800 workers at the
Janesville plant would be put on indefinite layoff effective
August 11 as the production rate for 1988-model Cadillac
Cimarrons and Chevrolet Cavalier compact cars is reduced by
five units per hour.
    Another 500 workers of the 5,100 employed at GM's
Lordstown, Ohio, plant will be laid off effective August 24,
the company said.
    GM said it will begin that date its production of
1988-model Chevrolet Cavalier and Pontiac Sunbirds on two
shifts with a cut of six units an hour from the current rate.
   GM also said it will change its method for reporting
indefinite layoffs to monthly releases from the previous weekly
system "to achieve more complete, accurate and less-confusing
reporting of production-schedule adjustments."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6450" NEWID="18698">
<DATE>18-JUN-1987 10:52:41.43</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y E 
&#22;&#22;&#1;f3355&#31;reute
u f BC-/IMPERIAL-OIL-&lt;IMO.A>   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>IMPERIAL OIL &lt;IMO.A> RAISES CRUDE 32 CANADIAN CTS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Canadian Imperial Oil, 70 pct Exxon
owned, said it raised its posting for light sweet crude oil at
Edmonton by 32 canadian cts a barrel, effective today.
    The company said its new posting for light sweet crude oil
at Edmonton is 25.60 canadian dlrs a barrel.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6451" NEWID="18699">
<DATE>18-JUN-1987 10:53:01.27</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3356&#31;reute
r f BC-TULTEX-CORP-&lt;TTX>-2ND   06-18 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>TULTEX CORP &lt;TTX> 2ND QTR MAY 30 NET</TITLE>
<DATELINE>    MARTINSVILLE, Va., June 18 -
    </DATELINE><BODY>Shr 17 cts vs 20 cts
    Net 3,121,000 vs 3,624,000
    Revs 60.2 mln vs 59.0 mln
    Avg shrs 18.3 mln vs 18.2 mln
    Six mths
    Shr 40 cts vs 48 cts
    Net 7,429,000 vs 8,743,000
    Revs 124.7 mln vs 126.1 mln
    Avg shrs 18.3 mln vs 18.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6452" NEWID="18700">
<DATE>18-JUN-1987 10:54:33.96</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>gatt</D><D>fao</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f3361&#31;reute
u f BC-DUTCH-CONSUMERS,-INDU   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH CONSUMERS/INDUSTRY SEE VEG OILS TAX THREAT</TITLE>
<DATELINE>    THE HAGUE, June 18 - </DATELINE><BODY>Dutch consumers and food processors
would be hit hard by the proposed EC tax on oils and fats, Dick
de Bruyn, chairman of the commodity board for margarine, fats
and oils, MVO, said at the annual meeting.
    The Dutch are the second largest consumers of margarine and
fourth largest consumers of vegetable oils in the EC.
    The fiercely contested tax would be a levy on consumers and
steeply increase the costs of industries such as potato
processing and cake and biscuit manufacturing, de Bruyn said.
    "A move by these industries to countries outside the EC
cannot be ruled out," he added.
    De Bruyn said the tax on vegetable and marine oils and fats
would be wide open to fraud, difficult to police, and hugely
expensive administratively.
    He also said the proposed tax contravened not only article
three of the General Agreement on Tariffs and Trade (GATT), the
Lome Convention, and the United Nations Food and Agriculture
Organization (FAO) guidelines, but also the EC's own Treaty.
    The proposed tax would not only be inflationary but also
have consequences for employment and investment, he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6453" NEWID="18701">
<DATE>18-JUN-1987 10:56:24.69</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F 
&#22;&#22;&#1;f3370&#31;reute
f f BC-DIAMOND-SHAMROC   06-18 0017</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DIAMOND SHAMROCK RAISES CRUDE OIL POSTED PRICES 50 CTS
A BBL, EFFECTIVE YESTERDAY, WTI TO 19 DLRS.
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6454" NEWID="18702">
<DATE>18-JUN-1987 10:58:22.77</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;f3378&#31;reute
r f BC-NABISCO-BRANDS-LTD-&lt;N   06-18 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>NABISCO BRANDS LTD &lt;NAB.TO> NAMES NEW CEO</TITLE>
<DATELINE>    TORONTO, June 18 - </DATELINE><BODY>Nabisco Brands Ltd, 80 pct-owned by RJR
Nabisco Inc &lt;RJR>, said it named president R. Edward Glover as
chief executive, replacing J.R. MacDonald, who remains as
vice-chairman and chairman of the executive committee,
effective immediately.
    Glover has been president and chief operating officer since
April, 1986, Nabisco said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6455" NEWID="18703">
<DATE>18-JUN-1987 10:58:39.58</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E 
&#22;&#22;&#1;f3380&#31;reute
r f BC-POCO-PETROLEUMS-LTD-&lt;   06-18 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>POCO PETROLEUMS LTD &lt;POC.TO> 2ND QTR NET</TITLE>
<DATELINE>    CALGARY, Alberta, June 18 - </DATELINE><BODY>Period ended April 30
    Shr not given
    Net 2,600,000 vs 1,600,000
    Revs 18.1 mln vs 15.1 mln
    SIX MTHS
    Shr 21 cts vs 42 cts
    Net 3,800,000 vs 5,500,000
    Revs 32.9 mln vs 35.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6456" NEWID="18704">
<DATE>18-JUN-1987 10:59:31.25</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3382&#31;reute
f f BC-COASTAL-RAISES   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COASTAL RAISES CRUDE OIL POSTINGS 50 CTS/BBL YESTERDAY,
WTI TO 19 DLRS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6457" NEWID="18705">
<DATE>18-JUN-1987 10:59:36.89</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3383&#31;reute
f f BC-SOUTHLAND-CORP   06-18 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SOUTHLAND CORP RAISED CRUDE OIL POSTINGS 50 CTS/BBL, WTI
NOW 19 DLRS/BBL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6458" NEWID="18706">
<DATE>18-JUN-1987 10:59:57.64</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3384&#31;reute
f f BC-MURPHY-RAISES-C   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MURPHY RAISES CRUDE OIL POSTINGS 50 CTS A BBL YESTERDAY,
WTI TO 19 DLRS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6459" NEWID="18707">
<DATE>18-JUN-1987 11:00:03.69</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3385&#31;reute
f f BC-PERMIAN-RAISES   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PERMIAN RAISES CRUDE OIL POSTINGS 50 CTS
 A BBL, WTI TO 19 DLRS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6460" NEWID="18708">
<DATE>18-JUN-1987 11:00:12.78</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;f3386&#31;reute
r f BC-ROBERT-BRUCE-INDUSTRI   06-18 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>ROBERT BRUCE INDUSTRIES &lt;BRUCA.O> 1ST QTR LOSS</TITLE>
<DATELINE>    NEW YORK, June 18 -</DATELINE><BODY>Qtr ends march 28
    Shr loss 1.46 dlrs vs loss 49 cts
    Net loss 2,919,000 dlrs vs loss 892,000 dlrs
    Revs 10.3 mln vs 11.5 mln
    Avg shrs 2,000,000 vs 1,836,000
    NOTE: full name of company is robert bruce industries Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6461" NEWID="18709">
<DATE>18-JUN-1987 11:00:26.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3388&#31;reute
d f BC-HACHETTE-SEES-SHARP-P   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>HACHETTE SEES SHARP PROFIT INCREASE IN 1987</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>French media and publishing group Hachette
&lt;HACP.PA> expects a record 15 pct rise in its profits this
year, Hachette chairman Jean-Luc Lagardere said.
    Lagardere told a news conference that Hachette's profits
last year were 565.4 mln francs against 431.7 mln in 1985.

    He said that Hachette was carrying out feasibility studies
for the launching around October next year of a nationwide
daily newspaper. Earlier this year it made an unsuccessful
three billion franc bid for state-owned television network
TF-1.
    In a letter sent to shareholders, Lagardere said that 1987
was likely to be another record year for the company.
    Hachette owns the Europe-1 radio station, about 60 weekly
newspapers and magazines, and is also involved in printing.
    It posted a 14.7 billion franc consolidated turnover last
year against 11.6 billion in 1985.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6462" NEWID="18710">
<DATE>18-JUN-1987 11:00:43.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3390&#31;reute
r f BC-VMS-HOTEL-&lt;VHT>-INCRE   06-18 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>VMS HOTEL &lt;VHT> INCREASES LOAN TO HOTEL</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>VMS Hotel Investment Trust said it
committed to fund a 1,029,600 dlr short-term loan increase for
capital improvements in the Omni Park Central Hotel in New
York.
    The secured loan will increase a previously announced
commitment to 5,154,600 dlrs from 4,125,000 dlrs. The total
loan will have a term of one year with an option to extend for
another one-year term.
    Current interest and loan fees are expected to produce an
annualized yield of 14.43 pct, VMS said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6463" NEWID="18711">
<DATE>18-JUN-1987 11:02:17.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3397&#31;reute
b f BC-WORLD-BANK-ISSUES-100   06-18 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK ISSUES 100 MLN ECU EUROBOND</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>The World Bank is issuing a 100 mln ECU
eurobond due July 21, 1994 paying 7-1/2 pct and priced at
101-1/2 pct, lead manager Morgan Guaranty Ltd said.
    The non-callable bond is available in denominations of
1,000 and 50,000 ECUs and will be listed in Luxembourg. The
selling concession is 1-1/4 pct while, management and
underwriting combined pays 1/2 pct.
    The payment date is July 21.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6464" NEWID="18712">
<DATE>18-JUN-1987 11:02:29.39</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;f3399&#31;reute
r f BC-FRANCE-VIDEOTEX-SERVI   06-18 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE VIDEOTEX SERVICE IN PACT WITH U.S. UNIT</TITLE>
<DATELINE>    NEW YORK, June 17 - </DATELINE><BODY>The French agency for international
marketing of videotex, &lt;Intelmatique>, said it plans to bring
the Minitel network to the U.S. in cooperation with Infonet, an
international network service of Computer Sciences Corp &lt;CSC>.
    Minitel, which now offers Gannett Co Inc's &lt;GCI> USA Today
and the &lt;British Broadcasting Corp's> news service, will be
aimed at French-speaking businesses in the U.S., Intelmatique
said.
   
    Initially, only about 300 applications in the Eastern
corridor between the New York area and Washington will be
included in the pilot project, the company said.
    Users will pre-pay communciation costs and connetion fees
of about 25 dlrs per hour, the company said. Also, participants
in the pilot program will be able to rent Minitel terminals for
25 dlrs per month, Intelmatique said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6465" NEWID="18713">
<DATE>18-JUN-1987 11:03:03.26</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3403&#31;reute
d f BC-EVERGOOD-PRODUCTS-COR   06-18 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>EVERGOOD PRODUCTS CORP &lt;EVGD.O> 1986 YEAR LOSS</TITLE>
<DATELINE>    HICKSVILLE, N.Y., June 18 -
    </DATELINE><BODY>Oper shr loss 19 cts vs loss 38 cts
    Oper net loss 239,000 dlrs vs loss 476,000 dlrs
    Revs 16.0 mln vs 14.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6466" NEWID="18714">
<DATE>18-JUN-1987 11:03:30.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3407&#31;reute
d f BC-GLOBAL-YIELD-FUND-&lt;PG   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>GLOBAL YIELD FUND &lt;PGY> REVIEWS DIVIDEND POLICY</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Global Yield Fund, in a review of its
dividend policy, told shareholders that under the Internal
Revenue Code of 1986, the fund must distribute substantially
all of its net income by the end of each year.
    Under the new tax law, the company said annual net income
includes net investment income from interest less expenses, plu
or minus any ordinary currency gains or losses realized in
connection with the sale of debt securities.
   
    The company said its present dividend policy is to make
distributions of net investment income to stockholders
quarterly and to accumulate any realized ordinary currency
gains for distribution as net income at the end of the year.
    At present time, the company said such currency gains
amount to about 40 cts per share.
    However, any currency net loss realized during the
remaining six and a half month period between now and the end
of the year could not only reduce or eliminate distributions
from this source but could reduce distributions from net
investment income, the company said.
   
    According to Global, the board would determine on an annual
basis whether to distribute or retain net long-term realized
capital gains.
    In other matters, the company said its shareholders at its
first annual meeting elected nine directors, approved the
investment management agreement with &lt;Prudential Insurance Co
of America>, and the service agreement between Prudential and
the &lt;Prudential Investment Corp>.
   
    Shareholders also approved the administration agreement
with &lt;Prudential-Bache Securities Inc> and amended the fund's
investment restrictions to permit the purchase of portfolio
securities while borrowings are outstanding, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6467" NEWID="18715">
<DATE>18-JUN-1987 11:05:19.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3424&#31;reute
d f BC-WELLS-GARDNER-&lt;WGA>-A   06-18 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>WELLS-GARDNER &lt;WGA> AWARDED CONTRACT</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Wells-Gardner Electronics Corp said it
was awarded a five-year contract to supply touch panel monitors
to Matrox Electronics Systems Ltd, Dorval, Quebec, Canada.
    The company said the contract is expected to generate total
revenues of about five mln dlrs.
    It said the monitors will be part of a videodisc system for
the U.S. Army's Electronic Information Delivery System.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6468" NEWID="18716">
<DATE>18-JUN-1987 11:05:52.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3429&#31;reute
h f BC-(INSTANT-MEDICAL)-OPE   06-18 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>(INSTANT MEDICAL) OPENS HEALTH TEST BOOTHS</TITLE>
<DATELINE>    DENVER, June 18 - </DATELINE><BODY>(Instant Medical Test Inc) said it opened
five health testing booths inside the stores of Osco Drug Co, a
unit of American Stores Inc &lt;ASC>.
    The company said the booths include a full range of medical
testing equipment, and certified medical technicians who take
blood samples to test for 55 major health risks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6469" NEWID="18717">
<DATE>18-JUN-1987 11:06:02.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V 
&#22;&#22;&#1;f3430&#31;reute
u f AM-LEBANON-GLASS   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SAYS IT WON'T YIELD IN JOURNALIST'S KIDNAPPING</TITLE>
<DATELINE>    WASHINGTON, June 18- </DATELINE><BODY>The United States, responding to the
kidnapping of American journalist Charles Glass, today insisted
it would not yield to terrorist blackmail.
    "While much remains unclear, we assume this is another
terrorist attempt to manipulate the United States through our
concern for our citizens," the State Department said in a
statement.
    "While we are deeply concerned for the well-being of Mr.
Glass, Mr. (Ali) Usayran and all hostages, American and
foreign, and extend our sympathy to their families and friends,
we repeat that we will not yield to terrorist blackmail," it
said.
    The State Department said its embassy in Beirut had learned
that Glass, a journalist on leave from his job with ABC
television, and Usayran, the son of the Lebanese defense
minister, were kidnapped on the Awaz'i Road in the southern
suburbs of Beirut north of Beirut International Airport on June
17.
    "We know of no claims of responsibility," the department
said.
    "We hold the kidnappers responsible for the safety of their
victims and call for the immediate and unconditional release of
all those held hostages," it added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6470" NEWID="18718">
<DATE>18-JUN-1987 11:06:56.56</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3436&#31;reute
d f BC-CALSTAR-INC-&lt;CSAR.O>   06-18 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>CALSTAR INC &lt;CSAR.O> YEAR APRIL 30 NET</TITLE>
<DATELINE>    EDINA, Minn., June 18 -
    </DATELINE><BODY>Shr primary 66 cts vs 1.17 dlrs
    Shr diluted 66 cts vs 81 cts
    Net 1,220,691 vs 1,302,999
    Revs 13.7 mln vs 13.1 mln
    Avg shrs primary 1,859,421 vs 1,112,400
    Avg shrs diluted 1,859,421 vs 1,826,303
    NOTE: Latest net includes tax credits of 565,000 dlrs vs
620,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6471" NEWID="18719">
<DATE>18-JUN-1987 11:07:02.69</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;f3437&#31;reute
d f BC-MICRODYNE-CORP-&lt;MCDY.   06-18 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>MICRODYNE CORP &lt;MCDY.O> 2ND QTR MAY THREE NET</TITLE>
<DATELINE>    OSCALA, Fla., June 18 -
    </DATELINE><BODY>Oper shr nil vs profit one ct
    Oper net profit 14,000 vs profit 51,000
    Revs 5,547,000 vs 6,021,000
    Six mths
    Oper shr loss nine cts vs profit seven cts
    Oper net loss 383,000 vs profit 314,000 dlrs
    Revs 9,31,000 dlrs vs 12.5 mln
    NOTE: 1986 qtr and six mths excludes loss 171,000 dlrs and
358,000 dlrs, respectively, for loss from discontinued
operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6472" NEWID="18720">
<DATE>18-JUN-1987 11:07:10.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3439&#31;reute
d f BC-COMMONWEALTH-&lt;COMW.O>   06-18 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH &lt;COMW.O> PRESIDENT RESIGNS</TITLE>
<DATELINE>    FORT LAUDERDALE, Fla., June 18 - </DATELINE><BODY>Commonwealth Savings and
Loan Association said Michael McCarthy, its president and chief
operating officer, resigned.
    The company said Barry Chapnick, chairman and chief
executive offcer, will resume the responsibilities of the
president's post.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6473" NEWID="18721">
<DATE>18-JUN-1987 11:07:55.27</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3442&#31;reute
d f BC-MAJOR-VIDEO-CORP-&lt;MAJ   06-18 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR VIDEO CORP &lt;MAJV.O> YEAR APRIL 30 NET</TITLE>
<DATELINE>    LAS VEGAS, June 18 -
    </DATELINE><BODY>Shr 23 cts vs 14 cts
    Net 611,000 vs 511,000
    Revs 10.1 mln vs 4,380,000
    NOTE: Latest year includes three cent per share loss from
discontinued operations while prev year includes seven cent per
share tax credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6474" NEWID="18722">
<DATE>18-JUN-1987 11:08:18.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3443&#31;reute
h f BC-QUIXOTE-&lt;QUIX.O>-UNIT   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>QUIXOTE &lt;QUIX.O> UNIT, BATTELLE FORM AGREEMENT</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Quixote Corp said its Ocean Scientific
Inc subsidiary and the Columbus, Ohio, division of Battelle
Memorial Institute signed a joint marketing agreement under
which the organizations may provide joint services for specific
research and development programs for healthcare and
instrumentation.
    The agreement will allow Ocean Scientific to offer its
clients greater capability for designing new instrumentation
systems, Quixote said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6475" NEWID="18723">
<DATE>18-JUN-1987 11:09:36.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3447&#31;reute
r f BC-GETTY-PETROLEUM-CORP   06-18 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>GETTY PETROLEUM CORP &lt;GTY> SETS QTLY DIV</TITLE>
<DATELINE>    PLAINVIEW, N.Y., June 18 -
    </DATELINE><BODY>Qtly div four cts vs four cts prior
    Pay July 21
    Record July 7
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6476" NEWID="18724">
<DATE>18-JUN-1987 11:12:26.78</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;f3460&#31;reute
b f BC-/-FED-EXPECTED-TO-ADD   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>FED EXPECTED TO ADD RESERVES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>The Federal Reserve will enter the
government securities market to supply reserves via either a
large round of customer repurchase agreements or by overnight
or possibly four-day system repurchases, economists said.
    They said the Fed has a fairly large add need and is likely
to face the most reserve dislocations early in the new
statement period started today as corporate tax payments swell
Treasury balances at the Fed.
    Fed funds hovered at 6-3/4 pct after averaging 6.80 pct
yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6477" NEWID="18725">
<DATE>18-JUN-1987 11:16:05.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3477&#31;reute
s f BC-MET-COIL-SYSTEMS-CORP   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>MET-COIL SYSTEMS CORP &lt;METS.O> SETS REG DIV</TITLE>
<DATELINE>    CEDAR RAPIDS, Iowa, June 18 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay July 31
    Record July 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6478" NEWID="18726">
<DATE>18-JUN-1987 11:16:23.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3480&#31;reute
r f BC-SYKES-DATATRONICS-&lt;SY   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SYKES DATATRONICS &lt;SYKE.O> SELLS DEBENTURES</TITLE>
<DATELINE>    ROCHESTER, N.Y., June 18 - </DATELINE><BODY>Sykes Datatronics Inc said it
has agreed in principle for Marshall Associates and H and M
resources Inc to each purchase up to one mln dlrs of its
convertible debentures, allowing Sykes to pay in full its debt
to Chase Manhattan Corp &lt;CMB> and Chemical New York Corp &lt;CHL>.
    The company said at closing, each investor will buy 750,000
dlrs of convertible debentures bearing interest at three points
over the prime rate.  It said interest only is payable until
June 1, 1990, when repayment of principal in 20 quarterly
installments.
    Sykes said the remaining 250,000 dlrs of each commitment
may be drawn down at Sykes' option after December 1, 1987 if
the company has met certain performance levels.
    It said the debentures are convertible into common stock at
15 cts per share.  It said if it has now drawn all of the
remaining 500,000 dlrs of debentures, the investor can buy
whatever amount of debentures remain unsold and immediately
convert  them to Sykes stock.
    Sykes said if both investors were to convert all of the
debentures, they would own 13.3 mln Sykes shares.  Sykes now
has 13.0 mln shares outstanding.
    Sykes said, however, that the agreement with the investors
provides that the number of shares resulting from the
conversion of the debentures may not be in an amount that would
limit Sykes' ability to use its net operating loss carryforward
under the Tax Reform Act of 1986.  The provisioin would
prevcent the investor from owning more than 50 pct of Sykes'
shares immediately after conversion, it said.
    The company said closing of the trasaction is expected
before July 1, subject to the receipt of a fairness opinion
from an investment banker, Moseley Holdings Corp &lt;MOSE.O>.
    Sykes said it will use 1,100,000 dlrs of the initial
1,500,000 dlrs in proceeds, together with a 200,000 dlr note,
to pay in full all its debt to Chase and Chemical.  The banks
will then release their security interests in sykes assets,
which will be pledged to the two new investors instead, it
said.
    Sykes said on payment to the banks, it will no longer have
to pay to the banks lease payments and proceeds from the sale
of excess inventory and assets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6479" NEWID="18727">
<DATE>18-JUN-1987 11:16:36.56</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;f3482&#31;reute
r f BC-TEKTRONIX-&lt;TEK>-PAPER   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TEKTRONIX &lt;TEK> PAPER DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Standard and Poor's Corp said it cut to
A-2 from A-1 the commercial paper of Tektronix Inc.
    S and P cited the management's plan to repurchase up to 380
mln dlrs of common equity. The plan will greatly reduce
liquidity and raise debt to total capital by increasing
Tektronix's sensitivity to industry volatility. Because weak
primary markets have led to slow growth in recent years, a
strong balance sheet has been a major support for credit
quality, the agency noted.
    It added that the firm may improve long-term growth, but
increased competition may inhibit a return to previous levels.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6480" NEWID="18728">
<DATE>18-JUN-1987 11:20:18.20</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;f3495&#31;reute
u f BC-SOUTHLAND-&lt;SLC>-UNIT   06-18 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHLAND &lt;SLC> UNIT RAISES CRUDE 50 CTS/BBL</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Southland Corp's subsidiary Citgo
Petroleum said it raised its posted prices for crude oil across
the board by 50 cts a barrel, effective June 17.
    Citgo said its new posting for West Texas Intermediate and
West Texas Sour is 19 dlrs a barrel. Light Louisiana Sweet is
now posted at 19.35, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6481" NEWID="18729">
<DATE>18-JUN-1987 11:20:49.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3497&#31;reute
r f BC-MICROELECTRONICS-TO-R   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MICROELECTRONICS TO RESTRUCTURE PROGRAM</TITLE>
<DATELINE>    AUSTIN, Texas, June 18 - </DATELINE><BODY>&lt;Microelectronics and Computer
Technology Corp> said its board approved a restructuring of its
advanced computer architecture program.
    The private sector cooperative research venture, which is
owned by 20 U.S. companies, said the restructuring is based on
a study by its technical advisory board. The study occurred due
to changing requirements, the company said.
    Formerly comprised of four separate projects, the program
will now have a central resaerch core and three laboratories
called satellites. The work in the core program will focus on
long-range research, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6482" NEWID="18730">
<DATE>18-JUN-1987 11:21:51.92</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E 
&#22;&#22;&#1;f3505&#31;reute
r f BC-HOLLINGER-&lt;HLG.TO>-CO   06-18 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLLINGER &lt;HLG.TO> COMPLETES UNIMEDIA TAKEOVER</TITLE>
<DATELINE>    TORONTO, June 18 - </DATELINE><BODY>Hollinger Inc said it completed the
previously reported acquisition of privately held Unimedia Inc,
the owner of three French language daily newspapers and four
printing plants in Ontario and Quebec.
    The company, which owns 58 pct of (Daily Telegraph Plc)
said it named former Carling O'Keefe Ltd chief executive Pierre
Des Marais as chief executive of La Societe Media Quebec, the
unit acquiring Unimedia.
    It said his appointment is effective July 2.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6483" NEWID="18731">
<DATE>18-JUN-1987 11:22:33.59</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;f3509&#31;reute
u f BC-BONN-SHOULD-SPEED-UP   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>BONN SHOULD SPEED UP TAX REFORM, INSTITUTE SAYS</TITLE>
<DATELINE>    BONN, June 18 - </DATELINE><BODY>West Germany's proposed tax reform should
be brought forward to stimulate economic growth and head off
U.S.-led pressure on Bonn to take further fiscal steps to help
boost the world economy, the Ifo economic institute said.
    An Ifo report said, "The total growth effect of the reform
could be considerably enhanced, and international pressure on
the government therefore reduced, if a larger portion of the
tax cuts planned by 1990 were brought forward to 1988."
    Swift action is required to remove growing doubts about how
the 44 billion mark tax reform will be financed, Ifo said.
    The report says the tax reform will be insufficient and too
late to stimulate economic growth, as demanded by West
Germany's industrial partners.
    Since the lion's share of cuts worth a gross 44 billion
marks "will not go into effect before 1990, their impact on
growth will be too little, too late," said Ifo.
    The West German government has consistently said that by
cutting taxes and encouraging consumer spending it is boosting
domestic demand and making a significant contribution to world
economic growth.
    Bonn has agreed to increase the scope of tax reductions
planned for 1988. In March, the government said 1988 tax cuts
would be expanded by 5.2 billion marks to 13.7 billion.
    A month later, economics minister Martin Bangemann
countered a joint call from all five German economic institutes
to speed up tax cuts by saying such a step would endanger
efforts to consolidate the budget and keep new public borrowing
down.
    Financing the tax reform has become an "acute problem," Ifo
said.
    "Currently, every proposal over financing (the reform) comes
up against political opposition. There will be a lot more
criticism before the outstanding 19.4 billion marks needed to
finance the reform has been accounted for," the report said.
    The government has pledged to agree by the Autumn how to
raise around 19 billion marks still needed to finance tax cuts.
Subsidies paid to ailing industries are the major target.
    But even leading coalition members like Matthias Wissmann,
economics spokesman for the ruling Christian Democratic party,
have conceded that subsidy cuts exceeding five billion marks
are unrealistic, leaving a remaining 14 billion marks to be
found.
    An increase in public borrowing will be inevitable to help
finance the tax cuts, but Bonn should be able to cope with
this, the report said.
    Despite vigorous opposition from the Free Democrats, the
junior partners in the centre-right coalition government, Bonn
will eventually be forced to increase value added tax (VAT) due
to tax harmonisation measures within the European Community. A
VAT increase will also provide funds for income tax reform, the
report said.
    Viewed in the context of efforts by Bonn, Washington and
Tokyo to reform taxes, "despite its various shortcomings, West
Germany's planned tax reform is better than its reputation," Ifo
said.
    The effective cut in the income tax burden carried by West
Germans will be greater than in the U.S., Although the rate
reductions are smaller and income tax levels will remain higher
overall, the report said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6484" NEWID="18732">
<DATE>18-JUN-1987 11:24:29.40</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;f3516&#31;reute
r f BC-A.G.-EDWARDS-INC-&lt;AGE   06-18 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>A.G. EDWARDS INC &lt;AGE> 1ST QTR MAY 31 NET</TITLE>
<DATELINE>    ST. LOUIS, June 18 -
    </DATELINE><BODY>Shr 52 cts vs 62 cts
    Net 10,884,000 vs 12,891,000
    Revs 133.3 mln vs 128.8 mln
    Avg shrs 21,017,000 vs 20,845,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6485" NEWID="18733">
<DATE>18-JUN-1987 11:24:59.93</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;f3518&#31;reute
r f BC-BOARD-REJECTS-HYDRO-Q   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BOARD REJECTS HYDRO-QUEBEC SALES TO NEW ENGLAND</TITLE>
<DATELINE>    MONTREAL, June 18 - </DATELINE><BODY>Canada's National Energy Board has
denied an application by Quebec-owned Hydro-Quebec to export
about three billion Canadian dlrs worth of electricity to the
New England states, a board spokeswoman told Reuters.
    The decision is to be made public later today, chief
information officer Ann Sicotte said.
    Sicotte said the board rejected tha application after four
months of hearings because Hydro-Quebec did not offer the
electricity first to Canadian provinces and could not prove it
was surplus to Canadian needs.
    Sicotte said Hydro-Quebec can apply for a review of the
decision if there are new facts or changed circumstances, and
could also launch an appeal with the federal court or file a
new application.
    Hydro-Quebec spokesman Maurice Hebert said the utility had
not yet been officially notified and will have to study the
decision before deciding what action to take.
    The contract was a 10-year agreement with power exports
beginning in 1990. "They weren't able to demonstrate that the
electricity was surplus and one way to demonstrate that is by
offering it to neighboring provinces," Sicotte said.
    Hebert said the utility argued that it can generate  enough
electricity to supply its U.S. and Canadian customers.
    "Our position is that electricity is a manufactured
product--so everyboday can manufacture it and anybody can buy
some--if they (the provinces) want to buy some from us, we're
willing to discuss it," he said.
    The application is the first the National Energy Board has
rejected outright, Sicotte said.
    New Brunswick, Prince Edward Island, and Newfoundland had
opposed the contract at Energy Board hearings this spring.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6486" NEWID="18734">
<DATE>18-JUN-1987 11:25:39.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C 
&#22;&#22;&#1;f3521&#31;reute
d f BC-DONORS-PLEDGE-3.15-BI   06-18 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>DONORS PLEDGE 3.15 BILLION DLRS INDONESIAN AID</TITLE>
<DATELINE>    THE HAGUE, June 18 - </DATELINE><BODY>Aid donors to Indonesia pledged a
total of 3.15 billion dlrs in fresh funds to Jakarta, a
statement issued after a two day meeting of the Inter
Governmental Group on Indonesia (IGGI) said.
    The funds compare with 2.6 billion dlrs allocated at last
year's meeting and exceed the World Bank's recommendation for
the coming year, the statement said.
    "The Group commended Indonesia for having taken effective
steps to adjust to the changed economic environment," it said.
    The statement said Indonesia must take further steps toward
economic growth to create employment and called for policies
supporting growth of agriculture.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6487" NEWID="18735">
<DATE>18-JUN-1987 11:25:49.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f3522&#31;reute
h f BC-CFTC'S-DAVIS-URGES-CA   06-18 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>CFTC'S DAVIS URGES CAUTION ON OFF-EXCHANGE ISSUE</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Regulations governing hedging and risk
management should be revised and development of new futures
instruments cautiously monitored in dealing with the growth of
off-exchange futures instruments, Robert Davis, a commissioner
on the Commodity Futures Trading Commission, CFTC, said.
    Davis told the Chicago chapter of the Futures Industry
Association Commodity Research Division last night "there is no
cause for undue alarm" in the growth of off-exchange
instruments.
    However, he said, the CFTC "must clarify jurisdictional and
regulatory issues" by maintaining the safeguards intended by
commodity regulations while encouraging "the further
development of competitive markets."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6488" NEWID="18736">
<DATE>18-JUN-1987 11:26:22.08</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;f3525&#31;reute
b f BC-/MURPHY-OIL-&lt;MUR>-RAI   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>MURPHY OIL &lt;MUR> RAISES CRUDE POSTINGS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Murphy Oil said it increased its crude
oil posted prices by 50 cts a barrel, effective June 17.
The company said its new posting for West Texas Intermediate
and West Texas Sour is 19 dlrs a barrel.
    Light Louisiana Sweet crude is now 19.35 dollars a barrel,
the company said. Increases follow a general trend in the
industry started yesterday by Sun Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6489" NEWID="18737">
<DATE>18-JUN-1987 11:27:04.47</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3527&#31;reute
f f BC-GM'S-CHEVROLET   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GM'S CHEVROLET AND OLDSMOBILE UNITS EXTENDING MARKETING
INCENTIVES THROUGH SUMMER
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6490" NEWID="18738">
<DATE>18-JUN-1987 11:29:52.02</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F 
&#22;&#22;&#1;f3533&#31;reute
u f BC-/PHILLIPS-PETROLEUM-&lt;   06-18 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS PETROLEUM &lt;P> RAISES CRUDE POSTINGS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Phillips Petroleum Co said it raised
its crude oil posted prices for West Texas Intermediate and
West Texas Sour by 50 cts a barrel, effective June 17.
    The company said the new posted price for WTI and WTS is 19
dlrs a barrel. The increase is in reaction to Sun Co raising
postings similarly yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6491" NEWID="18739">
<DATE>18-JUN-1987 11:30:13.02</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f3534&#31;reute
r f BC-MOBIL-&lt;MOB>-HAS-NORTH   06-18 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> HAS NORTH SEA NATURAL GAS FIND</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Mobil Corp said the 49/28-14 wildcat
well in Block 49/28 of the British North Sea flowed 50.6 mln
cubic feet of natural gas per day from depths of 7,742 to 7,777
feet.
    The company said it has a 23.33 pct interest and other
interest holders include Atlantic Richfield Co &lt;ARC>, Sun Co
&lt;SUN> and Deminex AG 10 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6492" NEWID="18740">
<DATE>18-JUN-1987 11:31:47.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3543&#31;reute
s f BC-MET-COIL-SYSTEMS-CORP   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>MET-COIL SYSTEMS CORP &lt;METS.O> SETS PAYOUT</TITLE>
<DATELINE>    CEDAR RAPIDS, Iowa, June 18 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay July 31
    Record July 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6493" NEWID="18741">
<DATE>18-JUN-1987 11:33:51.87</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3554&#31;reute
f f BC-SEC-TAKES-STEPS   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SEC TAKES STEPS TO ALLOW MULTIPLE TRADING ON
EXCHANGE-LISTED OPTIONS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6494" NEWID="18742">
<DATE>18-JUN-1987 11:34:28.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uganda</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T 
&#22;&#22;&#1;f3557&#31;reute
d f BC-IMF-LOANS-UGANDA-92.1   06-18 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>IMF LOANS UGANDA 92.1 MLN DLRS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The International Monetary Fund said
it has loaned Uganda 92.1 mln dlrs to aid in economic recovery.
    The fund said 60 mln dlrs of the loan is available through
the so-called structural adjustment facility (SAF) over the
next three years.
    The fund said 57.5 mln dlrs will be available immediately
under the SAF and a separate financing arrangement.
    After expanding in the early 1980's, Uganda's economy has
suffered setbacks since 1984 of falling industrial and
agricultural output and accelerating inflation, the fund said.
    The current economic downturn has been worsened by the
sharp decline in the world price of coffee, Uganda's major
export, the fund said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6495" NEWID="18743">
<DATE>18-JUN-1987 11:34:52.84</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y E 
&#22;&#22;&#1;f3560&#31;reute
f f BC-PETRO-CANADA-RA   06-18 0017</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PETRO-CANADA RAISES CRUDE POSTINGS 32 CTS CANADIAN/BBL.
SWEET CRUDE AT 25.60 DLRS CANADIAN/BBL.
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6496" NEWID="18744">
<DATE>18-JUN-1987 11:35:48.30</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>belgium</D><D>spain</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;f3561&#31;reute
b f BC-EC-COMMISSION-DEFENDS   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COMMISSION DEFENDS OILS AND FATS TAX</TITLE>
<DATELINE>    ****ANTWERP, June 18 - </DATELINE><BODY>A spokesman for the European
Community Commission defended the controversial plan for a levy
on oils and fats, saying that consumers would have to help
alleviate the surplus problem by paying the proposed tax.
    Norbert Tanghe, head of division of the Commission's
Directorate General for Agriculture, told the 8th Antwerp Oils
and Fats Contact Days "the Commission firmly believes that the
sacrifices which would be undergone by Community producers in
the oils and fats sector ... Would justify asking consumers to
make an appropriate contribution to solving the serious problem
within that sector by paying a levy."
    The proposed tax is necessary because the level of
budgetary costs resulting from olive oil and oilseeds
production has become unacceptable, Tanghe said.
    Recent estimates put these costs at 4.0 billion European
Currency Units and by 1990 they would rise by another 2.0
billion Ecus, he said. In 1990 the Community's "standstill"
agreements with Spain and Portugal end and the EC would then
feel the full impact of its enlargement.
    The Commission has proposed several cost and production
cutting measures which include the introduction of a maximum
guaranteed quantity system, he added.
    Under the Commission's system for stabilising consumer
prices in the oils and fats sector, a reference price of 700
Ecus per tonne for refined soy oil would be introduced, Tanghe
said.
    Consumer prices could be raised or lowered by a regulatory
amount when market prices are below or above this level.
    He said the revenue generated by charging a regulatory
amount would be used to finance the Common Agricultural
Policy's oils and fats regime.
    "The Commission believes that hostile reactions (to the
proposed tax) have for the most part been based on incomplete
or an insufficiently thorough analysis of the proposal," he said.
    Tanghe said the proposed system conforms with General
Agreement on Tariffs and Trade, GATT, rules.
    It would not be discriminatory because it would be applied
to domestic and imported products, and past experience showed
it would not cause any decline in consumption of oils and fats.
    EC-produced oilseeds would not benefit more than they do
under present aid arrangements, he said.
    The competitiveness between different oils, whether EC
produced or imported, would remain unchanged and quantities
imported from third countries would not be affected by the tax,
Tanghe said.
    The proposed system would not alter the EC nations'
requirements as far as imports are concerned since the overall
effect would stabilise Community production levels without
affecting demand, he said.
    It is one of the proposal's objectives to maintain current
import levels, he said.
    Imports of soybeans would be unaffected because they are
imported primarily to satisfy the EC's cakes and meals
requirements, which are not covered by the stabilising system.
Furthermore, more than half the oil produced from imported
beans is re-exported to third countries, Tanghe added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6497" NEWID="18745">
<DATE>18-JUN-1987 11:36:25.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3563&#31;reute
u f BC-FECSA-TO-MEET-DEBT-NE   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>FECSA TO MEET DEBT NEGOTIATING COMMITTEE TUESDAY</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Officials of Fuerzas Electricas de
Cataluna S.A. (FECSA), the Spanish electricity company, will
hold the first meeting with members of a new debt negotiating
committee representing its creditors in Barcelona on Tuesday,
senior bankers said.
    The talks will cover a possible rescheduling of the
company's 610.57 billion peseta debt, which includes both
foreign and domestic loans and other debt instruments.
    The committee was formed earlier this month after FECSA
agreed to rescind self-imposed terms for its debt repayments,
which were unacceptable to the banks.
    The negotiating committee is a subcommittee of a broader
creditor steering committee made up of some 22 creditor banks
and leasing companies, which is co-chaired by Bank of America
International Ltd and The Sanwa Bank Ltd.
    Bank of America and Sanwa also will co-chair the
negotiating committee. The other members are Bankers Trust Co,
Caixa de Barcelona, Confederacion Espanola de Cajas de Ahorros,
Chase Manhattan Bank, Deutsche Bank, Long Term Credit Bank of
Japan, Orient Leasing Ltd, Crown Leasing Ltd and Japan Overseas
Leasing Co. These banks also are on the broader steering
committee.
    Bankers said that in addition to the negotiating committee,
there also will be a seven-member sub-committee for
documentation and finance of which Citicorp will be chairman.
Gulf Bank KSC will chair a separate committee within the
committee for the documentation.
    The final list of the creditors participating in the
various committees was formulated this morning, and the
steering committee is now notifying FECSA's approximately some
320 creditors of the results.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6498" NEWID="18746">
<DATE>18-JUN-1987 11:38:23.83</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;f3567&#31;reute
u f BC-UNION-PACIFIC-&lt;UNP>-R   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>UNION PACIFIC &lt;UNP> RAISES CRUDE OIL PRICES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Union Pacific Resources, formerly
Champlin Petroleum, said it raised posted prices for crude oil
by 50 cts a barrel, effective yesterday.
    The price increase brings West Texas Intermediate, the U.S.
benchmark grade, to 19.00 dlrs a barrel.
    The posted price increase follows a similar move by several
other oil companies.
    Sun Co was the first to raise crude oil postings yesterday
afternoon and today many other companies are following.
    The last price increase made by oil companies was around
May 22.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6499" NEWID="18747">
<DATE>18-JUN-1987 11:39:59.53</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;f3576&#31;reute
b f BC-MARATHON-RAISES   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MARATHON RAISES CRUDE OIL POSTINGS 50 CTS/BBL, WTI NOW
19.00 DLRS.
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6500" NEWID="18748">
<DATE>18-JUN-1987 11:40:39.50</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3581&#31;reute
b f BC-vaALIAN-BALANCE-OF-PA   06-18 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>VaALIAN BALANCE OF PAYMENTS IN DEFICIT IN MAY</TITLE>
<DATELINE>    ROME, June 18 - </DATELINE><BODY>Italy's overall balance of payments showed
a deficit of 3,211 billion lire in May compared with a surplus
of 2,040 billion in April, provisional Bank of Italy figures
show.
    The May deficit compares with a surplus of 1,555 billion
lire in the corresponding month of 1986.
    For the first five months of 1987, the overall balance of
payments showed a surplus of 299 billion lire against a deficit
of 2,854 billion in the corresponding 1986 period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6501" NEWID="18749">
<DATE>18-JUN-1987 11:41:08.88</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3585&#31;reute
b f BC-ITALIAN-NET-OFFICIAL   06-18 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN NET OFFICIAL RESERVES FALL IN MAY</TITLE>
<DATELINE>    ROME, June 18 - </DATELINE><BODY>Italy's net official reserves fell to
67,110 billion lire in May from a previously reported 68,455
billion in April, the Bank of Italy said.
    Gold holdings totalled 35,243 billion lire at end May,
unchanged from end April.
    Convertible currencies totalled 18,277 billion lire in May,
down from 20,028 billion in April, while European Currency Unit
holdings were 10,610 billion against 10,528 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6502" NEWID="18750">
<DATE>18-JUN-1987 11:41:34.51</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f3588&#31;reute
f f BC-FED-SAYS-IT-SET   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED SAYS IT SETS TWO BILLION DLRS OF CUSTOMER REPURCHASE
AGREEMENTS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6503" NEWID="18751">
<DATE>18-JUN-1987 11:43:22.21</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3599&#31;reute
r f BC-BECOR-WESTERN-&lt;BCW>AG   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BECOR WESTERN &lt;BCW>AGAIN ADJOURNS HOLDER MEETING</TITLE>
<DATELINE>    SOUTH MILWAUKEE, Wis., June 18 - </DATELINE><BODY>Becor Western Inc said its
reconvened shareholders meeting has been adjourned to 1000 CDT
June 30.
    The company had previously announced plans to again adjourn
the meeting following receipt of a renewed offer from Lynch
Corp &lt;LGL> yesterday.
    The meeting was originally convened on June four when
shareholders approved the sale of Becor's Western Gear Corp
subsidiary before adjourning. The remaining matter to be
presented is the proposed acquisition of Becor by BCW
Acquisition Inc, now one of four offers for the company./
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6504" NEWID="18752">
<DATE>18-JUN-1987 11:44:20.69</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3603&#31;reute
r f BC-STEEL-FIRMS-STUDY-USX   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>STEEL FIRMS STUDY USX &lt;X> UNIT PRICE HIKE</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Two major steel companies said they
were studying a price increase announced yesterday by USX
Corp's USS steelmaking division.
    Spokesman for Armco Inc &lt;AS> and Bethlehem Steel Corp &lt;BS>
said the proposed price hike was under study.
    Yesterday, USS said it plans to raise base prices on plate
products by 20 dlrs a ton, or about five pct, effective with
shipments October 4.
    A spokesman for LTV Steel Co, a unit of LTV Corp &lt;QLTV>,
declined comment, adding that the company does not make heavy
plate and makes few other plate products.
    A spokesman for &lt;National Steel Corp>, a joint venture of
National Intergroup Inc &lt;NII> and Nippon Kokan K.K., said the
company is not in the product lines affected.
    Reached later, an Inland Steel Industries Inc &lt;IAD>
spokesman said the company was studying the pricing move.
    USX said the increase will be on all plate products,
including carbon, high-strength low-alloy, strip mill and alloy
plates. It also said it planned 20-dlr-a-ton increases on some
special plate widths and thicknesses.
    Analysts have said firm prices for steel should contribute
to better results at the nation's major steelmakers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6505" NEWID="18753">
<DATE>18-JUN-1987 11:44:27.20</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3604&#31;reute
b f BC-ITALIAN-BALANCE-OF-PA   06-18 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN BALANCE OF PAYMENTS IN DEFICIT IN MAY</TITLE>
<DATELINE>    ROME, June 18 - </DATELINE><BODY>Italy's overall balance of payments showed
a deficit of 3,211 billion lire in May compared with a surplus
of 2,040 billion in April, provisional Bank of Italy figures
show.
    The May deficit compares with a surplus of 1,555 billion
lire in the corresponding month of 1986.
    For the first five months of 1987, the overall balance of
payments showed a surplus of 299 billion lire against a deficit
of 2,854 billion in the corresponding 1986 period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6506" NEWID="18754">
<DATE>18-JUN-1987 11:44:58.77</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;f3606&#31;reute
u f BC-COASTAL-&lt;CGP>-CRUDE-P   06-18 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>COASTAL &lt;CGP> CRUDE POSTING UP 50 CTS/BBL</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Coastal Corp &lt;CGP> said it raised the
postings of crude oil 50 cts a barrel across the board,
effective yesterday, June 17.
    The new price for West Texas Intermediate is 19.00 dlrs a
barrel. For West Texas Sour the new price is 18.10 dlrs a
barrel.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6507" NEWID="18755">
<DATE>18-JUN-1987 11:45:19.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3607&#31;reute
s f BC-NRM-ENERGY-CO-LP-&lt;NRM   06-18 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>NRM ENERGY CO LP &lt;NRM> SETS PAYOUT</TITLE>
<DATELINE>    DALLAS, June 18 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay Aug 15
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6508" NEWID="18756">
<DATE>18-JUN-1987 11:45:25.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3608&#31;reute
s f BC-INSILCO-CORP-&lt;INR>-SE   06-18 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>INSILCO CORP &lt;INR> SETS PAYOUT</TITLE>
<DATELINE>    MERIDEN, Conn., June 18 -
    </DATELINE><BODY>Qtly div 25 cts vs 25 cts prior
    Pay Aug One
    Record July 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6509" NEWID="18757">
<DATE>18-JUN-1987 11:45:41.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3609&#31;reute
s f BC-NUCOR-CORP-&lt;NUE>-SETS   06-18 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>NUCOR CORP &lt;NUE> SETS PAYOUT</TITLE>
<DATELINE>    CHARLOTTE, N.C., June 18 -
    </DATELINE><BODY>Qtly div nine cts vs nine cts prior
    Pay Aug 11
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6510" NEWID="18758">
<DATE>18-JUN-1987 11:46:05.57</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;f3612&#31;reute
r f BC-PHELPS-DODGE-&lt;PD>-MAY   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>PHELPS DODGE &lt;PD> MAY BE UPGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
may upgrade the ratings on Phelps Dodge Corp's 545 mln dlrs of
debt securities.
    The agency cited Phelps Dodge's progress in restoring
profitability in a difficult environment for the copper
industry. Moody's said it will study the company's prospects
for continued improvements in debt protection measurements. It
noted that copper prices recently increased.
    Under review for possible upgrade are Phelps Dodge's Ba-1
sinking fund debentures and industrial revenue bonds and Ba-2
convertible exchangeable preference shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6511" NEWID="18759">
<DATE>18-JUN-1987 11:46:29.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3614&#31;reute
r f BC-RJR-NABISCO-&lt;RJR>-PER   06-18 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>RJR NABISCO &lt;RJR> PERSONNEL CHANGES AT UNITS</TITLE>
<DATELINE>    WINSTON-SALEM, N.C., June 18 - </DATELINE><BODY>RJR Nabisco Inc said it
carried out several personnel and organizational changes in its
foods and tobacco businesses.
    H. John Greeniaus, executive vice president of Nabisco
Brands Inc and president of International Nabisco Brands, has
been named president and chief executive officer of Nabisco
Brands Inc, the company said.
    Replacing Greeniaus as president of International Nabisco
Brands is Peter Rogers, previously president of Nabisco Brands
USA, the company said.
   
    The company also said Gerald Long, senior executive officer
of RJ Reynolds Tobacco USA, has been given the additional title
of chairman of RJ Reynolds Tobacco USA.
    Charles Chapman, former president and chief operating
officer of Nabisco Brands, was named president of Nabisco
Brands North America, the company said.
    The company said it assigned its Planters Plus Life Savers
operation to RJ Reynolds Tobacco Co from its current reporting
structure in Nabisco Brands USA. In addition, the Del Monte
Corp will now report to James Welch Jr, vice chairman of RJR
Nabisco and chairman of Nabisco Brands Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6512" NEWID="18760">
<DATE>18-JUN-1987 11:46:45.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E Y 
&#22;&#22;&#1;f3616&#31;reute
r f BC-GULF-CANADA-&lt;GOC.TO>   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF CANADA &lt;GOC.TO> HOLDERS APPROVE PLAN</TITLE>
<DATELINE>    TORONTO, June 18 - </DATELINE><BODY>Gulf Canada Corp shareholders at the
annual meeting approved a previously reported reorganization
plan giving shareholders stock in three publicly traded
companies.
    Shareholders will receive 66 shares in Gulf Canada
Resources Ltd, 29 shares of Abitibi-Price Inc &lt;AIB.TO> and 20
common shares of GW Utilities Ltd for every 100 shares in Gulf
Canada Corp. GW Utilities, a new company, will hold Gulf's 83
pct stake in Consumers Gas Co Ltd, 49 pct of Hiram
Walker-Gooderham and Worts Ltd and 41 pct of Interprovincial
Pipe Line Ltd &lt;IPL.TO>.

    Debenture holders who objected to the plan withdrew a
proposed amendment when Gulf Canada chairman Marshall Cohen
said they would receive compensation for six months of interest
they would otherwise have lost under the plan.
    The debenture holders had sought to postpone the
reorganization's effective date to July 16 from July 1 in order
to earn interest for the latest six-month period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6513" NEWID="18761">
<DATE>18-JUN-1987 11:47:46.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T 
&#22;&#22;&#1;f3618&#31;reute
u f BC-EUROPEAN-PARLIAMENT-T   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>EUROPEAN PARLIAMENT THREATENS TO BLOCK EC BUDGET</TITLE>
<DATELINE>    STRASBOURG, June 18 - </DATELINE><BODY>The European Parliament threatened to
block European Community spending plans for next year and
implied it could also hold up attempts to solve an
ever-deepening budget crisis this year.
    The Parliament voted unanimously in favour of a resolution
condemning the annual haggling and compromising between the
Community's 12 member states on spending levels.
    "It is no longer possible to resort to short-term measures
or to provisional budgetary solutions. It is no longer possible
to accept a budget in which real expenditure is not covered by
revenue," the resolution said.
    Parliamentary blocking could jeopardise efforts to solve a
financing crisis over a five billion European Currency Unit
(ECU) shortfall for this year, diplomats said. EC ministers are
deadlocked on the issue.
    It also would plunge the EC into an ever-deepening crisis
next year. Without parliamentary approval of the 1988 budget,
the Community would be forced into emergency measures, with
spending set according to the previous year's levels.
    British conservative parliamentarian Peter Price told
reporters that parliament could delay an emergency package
until EC ministers prove they are ready to find a long-term
solution.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6514" NEWID="18762">
<DATE>18-JUN-1987 11:47:54.23</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;f3619&#31;reute
r f BC-CRANE-&lt;CR>-DEBT-UPGRA   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CRANE &lt;CR> DEBT UPGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
upgraded Crane Co's 75 mln dlrs of debt.
    Raised were the company's subordinated debt to Baa-3 from
Ba-2 and in-substance defeased senior debentures to A-2 from
A-3.
    Moody's cited Crane's progress in reducing its exposure to
such cyclical industries as steel and in strengthening its core
businesses through acquisitions and cost reduction.
    The agency expects Crane to have further improvement in
operating margins. The diversity of Crane's businesses will
strengthen cash flow and improve debt protection, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6515" NEWID="18763">
<DATE>18-JUN-1987 11:47:58.73</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;f3620&#31;reute
b f BC-/-FED-ADDS-RESERVES-V   06-18 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>FED ADDS RESERVES VIA CUSTOMER REPURCHASES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>The Federal Reserve entered the
government securities market to supply temporary reserves
indirectly via two billion dlrs of customer repurchase
agreements, a spokesman for the New York Fed said.
    Fed funds were trading at 6-3/4 pct when the Fed began
its action.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6516" NEWID="18764">
<DATE>18-JUN-1987 11:48:30.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3622&#31;reute
r f BC-OMI-&lt;OMIC.O>-PLANS-TO   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>OMI &lt;OMIC.O> PLANS TO REDUCE DEBT TO 30 MLN DLRS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Omi Corp said it expects to reduce the
debt guaranteed by former parent Ogden Corp &lt;OG> to 30 mln dlrs
from about 50 mln dlrs by the end of 1987 from financing
measures including an employee stock ownership plan.
    The bulk shipping company said it expects to have the ESOP
in place before year end, subject to stockholder approval.
    The company also said it anticipates later this year to
refinance its high cost debt related to a U.S. flag chemical
tanker through a lease swap arrangement.
    Omi said this move would further enhance cash flow.
   
    In another matter, the company said through a joint venture
with &lt;Anders Wilhelmsen and Co>, three large crude carriers
have been chartered-in for minimum periods of six months with
various extension options, and, in one case, a purchase option.
    The company said it anticipates that the purchase option
will be exercised by the joint venture this summer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6517" NEWID="18765">
<DATE>18-JUN-1987 11:50:59.27</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;f3632&#31;reute
u f BC-NATIONAL-INTERGROUP-&lt;   06-18 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL INTERGROUP &lt;NII> UNIT RAISES CRUDE PRICES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Permian Corp, a subsidiary of National
Intergroup, said it raised its crude oil postings by 50 cts a
barrel, effective June 17.
    the company said its new posted price for West Texas
Intermediate and West Texas Sour is 19 dlrs a barrel, while
Light Louisiana Sweet is now 19.35. The price hike follows
other increases industrywide.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6518" NEWID="18766">
<DATE>18-JUN-1987 11:51:06.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>lse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3633&#31;reute
r f BC-PRIMERICA-&lt;PA>-LISTS   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>PRIMERICA &lt;PA> LISTS ON LONDON EXCHANGE</TITLE>
<DATELINE>    GREENWICH, Conn., June 18 - </DATELINE><BODY>Primerica Corp said its common
stock has been listed on the London Stock Exchange.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6519" NEWID="18767">
<DATE>18-JUN-1987 11:51:52.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3638&#31;reute
d f BC-OGDEN-CORP-&lt;OG>-SETS   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>OGDEN CORP &lt;OG> SETS SALE OF DEBENTURES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Ogden Corp said it has concluded the
sale outside the United States through &lt;Salomon Bros
International Inc> and &lt;Allen and Co Inc> of 85 mln dlrs of its
six pct convertible subordinated debentures maturing in 2002.
    The company said the debentures are convertible into Ogden
common stock at 79.75 dlrs per share without giving effect to
the 2-for-1 stock split distributable on July three.
    A portion of the proceeds will be used to redeem the 50 mln
dlrs of outstanding senior subordinated debt which currently
bears interest at a rate of about eight pct, the company said.
   
    The balance of the proceeds is expected to be used in the
financing of projects and general corporate purposes, the
company said.
    Ogden also said the potential conversion of the debentures
will not adversely affect its current earnings and cash flow
expectations.
    The debentures have not been, and will not be, registered
under the U.S. Securities Act of 1933 and may not be offered or
sold in the U.S. or to a citizen of resident of the U.S., the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6520" NEWID="18768">
<DATE>18-JUN-1987 11:52:29.60</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f3641&#31;reute
d f BC-U.S.-STEEL-FIRMS-STUD   06-18 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. STEEL FIRMS STUDY USX UNIT PRICE HIKE</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Two major steel companies said they
were studying a price increase announced yesterday by USX
Corp's USS steelmaking division.
    Spokesman for Armco Inc and Bethlehem Steel Corp said the
proposed price hike was under study.
    Yesterday, USS said it plans to raise base prices on plate
products by 20 dlrs a short ton, or about five pct, effective
with shipments October 4.
    A spokesman for LTV Steel Co, a unit of LTV Corp, declined
comment, adding that the company does not make heavy plate and
makes few other plate products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6521" NEWID="18769">
<DATE>18-JUN-1987 11:53:24.79</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;f3644&#31;reute
r f BC-STANDARD-COMMERCIAL-&lt;   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD COMMERCIAL &lt;STOB.O> 4TH QTR NET</TITLE>
<DATELINE>    WILSON, N.C., June 18 - </DATELINE><BODY>qtr ended March 31
    Shr 74 cts vs 79 cts
    Net 4,069,000 vs 3,458,000
    Revs 173.2 mln vs 120.8 mln
    Year
    Shr 2.65 dlrs vs 2.73 dlrs
    Net 13.3 mln vs 11.9 mln
    Revs 618.4 mln vs 520.7 mln
    NOTE: Full name is Standard Commercial Tobacco Co.
   
    Latest qtr and year includes tax loss carryforwards of
771,000 dlrs and 1,042,000 dlrs, respectively, and a loss of
613,000 dlrs for discontinued operation. Prev qtr and year
includes tax loss carryforwards of 469,000 dlrs and 1,902,000
dlrs, respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6522" NEWID="18770">
<DATE>18-JUN-1987 11:56:30.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3651&#31;reute
u f BC-U.K.-CAPITAL-EXPENDIT   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. CAPITAL EXPENDITURE RISES IN 1ST QTR 1987</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Capital expenditure in the U.K.
Manufacturing, construction, distribution and financial sectors
rose slightly in the first quarter to 4.75 billion stg from
4.74 billion in the fourth 1986 quarter, but remained below the
4.86 billion stg spent in first quarter 1986, the Department of
Trade and Industry said.
    Manufacturing saw its share of spending rise to 1.64
billion stg in the first quarter from 1.57 billion in the final
1986 quarter, but that was under the 1.78 billion stg
registered in first quarter 1986. Expenditure levels are
seasonally adjusted and measured at 1980 prices, the Department
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6523" NEWID="18771">
<DATE>18-JUN-1987 11:57:09.95</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f3654&#31;reute
f f BC-SECURITY-PACIFI   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SECURITY PACIFIC SAYS SEC DECLARES EFFECTIVE ITS 1.2
BILLION DLR SHELF
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6524" NEWID="18772">
<DATE>18-JUN-1987 11:58:11.12</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3658&#31;reute
f f BC-STORAGE-TECHNOLO   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
*****<TITLE>STORAGE TECHNOLOGY CORP SAYS COURT APPROVES EMERGENCE FROM
CHAPTER 11
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6525" NEWID="18773">
<DATE>18-JUN-1987 11:59:16.36</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;f3660&#31;reute
u f BC-/PETRO-CANADA-CRUDE-U   06-18 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>PETRO-CANADA CRUDE UP 32 CTS CANADIAN/BBL</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Petro-Canada, a state-owned oil
company, raised the posting prices of sweet and sour crude oils
32 cts Canadian per barrel, effective today, the company said.
    The change brings the price of light sweet crude to 26.50
dlrs Canadian per barrel and the price of light sour crude to
23.77 dlrs Canadian a barrel. The crude oils are from
Edmonton/Swann Hills.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6526" NEWID="18774">
<DATE>18-JUN-1987 12:02:05.63</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3672&#31;reute
d f BC-U.K.-COURT-RULES-AGAI   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. COURT RULES AGAINST RTZ ON OIL FIELD COSTS</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>The U.K. High Court dismissed an appeal
by Rio Tinto-Zinc Corp Plc's &lt;RTZL.L> RTZ Oil and Gas Ltd unit
and ruled that the financial provisions a company makes for the
future cost of abandoning an oil field are not tax deductible,
the Press Association reported.
    The company was appealing against a decision of the Tax
Commissioners that any such provision was a capital
expenditure, not a revenue expenditure, and was not deductible.
The court was told that since 1976 the company had made an
annual provision of around 750,000 stg for the eventual cost of
abandoning a rig.
    An RTZ spokesman said the ruling was not worrying as the
subsidiary had assumed that the provisions were not deductible
from corporation tax payable.
    It would have been a bonus if the company had won but all
budgeting had been on the assumption that it would not, he
said.
    Oil analysts said that RTZ's assumption of liability was
shared by the industry as a whole.
    The ruling appeared to mean that tax relief on the
expensive process of abandoning rigs would apply when the
expense occurred, not when provisions for future expenses were
built into the accounts, one analyst added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6527" NEWID="18775">
<DATE>18-JUN-1987 12:02:54.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D><D>amex</D><D>cboe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3677&#31;reute
b f BC-OPTIONS   06-18 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC ACTS ON EXCHANGE-LISTED OPTIONS TRADING</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The Securities and Exchange
Commission began proceedings in which it will consider allowing
options trading on exchange-listed securities on more than one
options market.
    In a three-nil decision, the SEC voted to seek public
comment on a proposed rule removing restrictions that prevent
the options from being traded on more than one market.
    Exclusive trading rights in options on exchange-listed
stocks are now determined by a lottery system among options
exchanges.
    The SEC also voted to ask the New York, American, Chicago
Board Options, Pacific and Philadelphia Exchanges to
voluntarily postpone an options allocation lottery scheduled
for June 22 while the matter is under consideration.
    Richard Ketchum, head of the SEC's division of market
regulation, said the exchanges are not required to adhere to
the request.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6528" NEWID="18776">
<DATE>18-JUN-1987 12:03:51.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f3682&#31;reute
u f BC-INDONESIAN-DEBT-SERVI   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIAN DEBT SERVICE RATIO PEAKS, MINISTER SAYS</TITLE>
<DATELINE>    THE HAGUE, June 18 - </DATELINE><BODY>Indonesia expects the recent years'
rise in its debt service ratio to peak at the current level of
41 pct, Development Supervision Minister Ali Wardhana told
journalists.
    He was speaking at a news conference following a two day
annual meeting of aid donors grouped in the Inter-Governmental
Group on Indonesia (IGGI) in which 3.15 billion dlrs in fresh
funds were pledged for the coming year.
    "The current debt service ratio of 41 pct will be the top,"
Wardhana said, noting the debt service ratio rose to that level
from 37 pct last year. Indonesia's debt totals 37 billion dlrs.
    "The current debt burden will be manageable if concessionary
loans can be attracted," he said.
    He said international organisations such as the World Bank
pledged an unchanged 1.68 billion dlrs in fresh funds to
Indonesia and this year's overall total, up from last year's
2.6 billion, reflected higher pledges from donor countries.
    He said Japan raised its pledge to 88 billion yen from 80
billion last year. Britain almost trebled its contribution to
130 mln stg from 45 mln. The United States raised its
contribution to 190 mln dlrs from 86 mln and the Netherlands
raised its figure to 232 mln guilders from 180 mln.
    Commenting on the increase in funds pledged to Indonesia,
which has been hard hit in export revenue due to the oil price
collapse, Wardhana said, "I am happily surprised, but in view of
the seriousness of the balance of payments situation the amount
is what we needed to cope."
    He noted donors pledged to increase local cost financing as
part of the aid package. Some 900 mln dlrs of the package will
be for programme aid or local cost financing, Indonesian
Central Bank Governor Arifin Siregar said.
    Trade Minister Rachmat Saleh said Indonesia will continue
to reform the economy and bring about further liberalisations.
    "Indonesia has undertaken reforms to meet external problems,"
Saleh said. "It's a good thing and we will continue with
deregulation in trade, industry and licensing of new
businesses."
    Asked whether the question of private capital exports from
Indonesia was discussed, central bank governor Arifin Siregar
expressed confidence that any drain of capital abroad would
only be temporary.
    He noted there had been a turnaround in a recent fall in
foreign exchange reserves three days ago.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6529" NEWID="18777">
<DATE>18-JUN-1987 12:04:12.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F 
&#22;&#22;&#1;f3685&#31;reute
u f BC-/SECURITY-PACIFIC-&lt;SP   06-18 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY PACIFIC &lt;SPC> UNIT'S SHELF EFFECTIVE</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Security Pacific National Bank, a unit
of Security Pacific Corp, said the Securities and Exchange
Commission declared effective its shelf registration statement
covering 1.2 billion dlrs of mortgage related securities.
    The bank said it filed the registration statement in April.
This is the bank's second shelf registration filed in
connection with Security Pacific Merchant Bank's efforts to
securitize mortgages originated by Security Pacific National,
it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6530" NEWID="18778">
<DATE>18-JUN-1987 12:05:07.83</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;f3693&#31;reute
r f BC-SOUTHMARK-&lt;SM>-ACQUIR   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHMARK &lt;SM> ACQUIRES BERG VENTURES</TITLE>
<DATELINE>    DALLAS, June 18 - </DATELINE><BODY>Southmark Corp said it acquired Berg
Ventures Inc, which manages 84 apartment complexes with over
18,000 units and 12 shopping centers stretching from New Jersey
to Florida that are controlled or affiliated with Berg Harmon
Associates. Terms were not disclosed.
    Southmark said the acquisition makes it the nation's
largest apartment management firm with over 100,000 units under
its wing. Southmark also said it has become the managing
partner of Berg Harmon Associates. Over 3,000 Berg Harmon
Limited partners have made capital investments of over 300 mln
dlrs in the properties now managed by Southmark.
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6531" NEWID="18779">
<DATE>18-JUN-1987 12:05:13.44</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;f3694&#31;reute
r f BC-KLM-NET-PROFIT-DECLIN   06-18 0059</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
KLM NET PROFIT DECLINES IN 1986/87 YEAR
    AMSTERDAM, June 18
    Year ended March 31
    Net profit 301 mln guilders vs 312 mln
    Profit per 20 guilder nominal ordinary share 5.93 guilders
vs 6.14 on unchanged 50.85 mln shares.
    Operating revenues 5.38 billion guilders vs 5.85 billion.
    Profit on sale of fixed assets 23 mln guilders vs 62 mln.
    Dividend eight pct or 1.60 guilders per ordinary share vs
same, and five pct vs same for priority and preferential
shares.
    Costs including depreciation 5.08 billion guilders vs 5.59
billion.
    Financial charges 34 mln vs 33 mln.
    Profit from participations 11 mln vs 15 mln.
    Extraordinary gain one mln vs nil.
    Note: The company was not required to pay corporation tax
in the 1986/87 book year thanks to fiscal compensation
possibilities. The full company name is Koninklijke Luctvaart
Maatschappij NV &lt;KLM.AS>.
    KLM released provisional figures on May 26.
    These were -
    Net profit 301 mln guilders vs 312 mln.
    Operating revenues 5.4 billion guilders vs 5.9 billion.
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6532" NEWID="18780">
<DATE>18-JUN-1987 12:05:29.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3696&#31;reute
b f BC-GM-&lt;GM>-UNITS-EXTEND   06-18 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> UNITS EXTEND INCENTIVES</TITLE>
<DATELINE>    DETROIT, June 18 - </DATELINE><BODY>General Motors Corp's Chevrolet and
Oldsmobile divisions said they are extending cash rebates and
discount financing on several car and truck lines through the
summer.
    Chevrolet said that through August 3 its customers could
choose cash rebates of 300 dlrs to 1,000 dlrs depending on
models or loan rates beginning at 3.9 pct through 9.9 pct,
depending on length of contract. The program covers six car
lines and S-10 Blazer and pickup trucks.
    Oldsmobile said separately its cash rebates and discount
financing packages with rates beginning at 3.9 pct for 24-month
loans were continued retroactively to June 16 on its Delta 88
and 98 Regency models.
    It gave no expiration for its incentive program.
    Chevrolet said its program continues to cover its newly
introduced Corsica and Beretta compact cars.
    Through June 10, Chevrolet's car sales are 14.1 pct below
last year's levels while Oldsmobile's retail deliveries of cars
are off by 31.9 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6533" NEWID="18781">
<DATE>18-JUN-1987 12:05:52.68</DATE>
<TOPICS><D>veg-oil</D><D>palm-oil</D><D>soy-oil</D><D>rape-oil</D><D>cotton-oil</D><D>coconut-oil</D><D>sun-oil</D></TOPICS>
<PLACES><D>belgium</D><D>malaysia</D><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G 
&#22;&#22;&#1;f3699&#31;reute
d f BC-GROWTH-OF-PALM-OIL-US   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>GROWTH OF PALM OIL USE SET TO SLOW, OUTPUT TO RISE</TITLE>
<DATELINE>    ANTWERP, June 18 - </DATELINE><BODY>The rate of increase in world palm oil
use is likely to slow next season despite an expected 800,000
tonne production rise to 8.13 mln tonnes, Siegfried Mielke,
editor of the Hamburg-based newsletter Oil World said.
    He told the 8th Antwerp Oils and Fats Contact Days that in
the next Oct/Sept 1987/88 season, palm oil use will rise to
8.25 mln tonnes from 7.71 mln, below the five-year average
increase of 550,000 tonnes.
     Opening stocks at the start of next October are expected
to be about 1.4 mln tonnes, 300,000 tonnes below year-earlier
levels, bringing total supplies to 9.5 mln tonnes, he said.
    The anticipated total supplies will be about 500,000 tonnes
above this season's available amount, Mielke said.
    The increase in mature palm tree areas in Malaysia will
slow down from this year on, but that will be offset by area
expansion in Indonesia, he said.
    He estimated the combined rise in Malaysian and Indonesian
mature area at 8.7 pct next year, after 9.5 pct this year, and
at 6.7 pct in 1989 and 5.0 pct in 1990.
    Malaysia also is shifting plantings to Sabah and Sarawak,
where the rate of expansion is higher than in the Peninsula,
but where yields are lower, he said.
     The stocks/usage ratio of seven major oils is also
expected to decline, Mielke said. The oils are soybean,
cottonseed, sunflowerseed, coconut, rapeseed, palmkernel and
palm.
    At the start of October 1986 stocks of these oils were
unusually high and represented 6.8 weeks of the current
season's prospective demand, compared with six weeks a year ago
and with 5.4 weeks in 1984, he said.
    Mielke expects the ratio to fall to 5.9 weeks by the start
of next October and to the unusually low level of 5.4 weeks by
the end of next season.
    The stocks/usage ratio for palm oil was 11.4 weeks last
October and is likely to be 8.7 weeks next October and 7.7 at
the end of next season, Mielke said.
    World oilseed stocks also are expected to fall in the
course of the next season, with the biggest reduction seen in
soybean stocks, which Mielke expects to decline by 5.0 mln
tonnes or by one fifth.
    Almost all of the decline is expected to occur in the U.S.,
for which he estimated ending stocks next season at 10.7 mln
tonnes, or 393 mln bushels, against anticipated ending stocks
of 15 mln tonnes, or 551 mln bushels, at the end of this
season.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6534" NEWID="18782">
<DATE>18-JUN-1987 12:08:05.85</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y 
&#22;&#22;&#1;f3719&#31;reute
r f BC-PAN-ALBERTA/UNITED-GA   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>PAN-ALBERTA/UNITED GAS SETTLEMENT APPROVED</TITLE>
<DATELINE>    CALGARY, Alberta, June 18 - </DATELINE><BODY>Pan-Alberta Gas Ltd said its
1986 proposed settlement with United Gas Pipe Line Co, of
Houston, received unconditional approval by the U.S. Federal
Energy Regulator Commission.
    Pan-Alberta said the approved deal authorized terms of a
two-year interim contract amendment, cash payments and
transportation credits for Pan-Alberta's customers, minimum
yearly natural gas takes by United and a two-year commodity
price. United will pay Pan-Alberta producers about 50 mln dlrs
over the interim period and take at least an average 40 mln
cubic feet a day of gas, Pan-Alberta said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6535" NEWID="18783">
<DATE>18-JUN-1987 12:08:12.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3720&#31;reute
r f BC-MAY-&lt;MA>-WON'T-BUY-AL   06-18 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>MAY &lt;MA> WON'T BUY ALLIED'S DEY BROTHERS STORES</TITLE>
<DATELINE>    ST. LOUIS, June 18 - </DATELINE><BODY>May Department Stores Co said it
terminated an agreement with Allied Stores Corp to buy from
Allied the four Dey Brothers Stores in Syracuse, N.Y.
    May and Allied said conditions necessary for the closing
were not met.
    May had planned to make the acquisition an expansion of its
Sibley's Department Store Co, which operates in Syracuse,
Rochester and Buffalo, N.Y.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6536" NEWID="18784">
<DATE>18-JUN-1987 12:08:38.89</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;f3724&#31;reute
r f BC-VALERO-NATURAL-GAS-&lt;V   06-18 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>VALERO NATURAL GAS &lt;VLP> SETS INITIAL PAYOUT</TITLE>
<DATELINE>    SAN ANTONIO, Texas, June 18 - </DATELINE><BODY>Valero Natural Gas Partners
LP said its board has declared an initial quarterly dividend of
67.3611 cents per unit, payable August 14, record July 1.
    The partnership said the distribution covers its first full
quarter of operations ending June 30 plus the period from the
inception of its operations on March 25.
    Future dividends will be 62.5 cts quarterly, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6537" NEWID="18785">
<DATE>18-JUN-1987 12:10:38.28</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;f3727&#31;reute
d f BC-DUFF/PHELPS-LOWERS-TR   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>DUFF/PHELPS LOWERS TRANSCO ENERGY &lt;E> AND UNIT</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Duff and Phelps said it lowered its
ratings on outstanding notes and debentures of Transco Energy
Company and its subsidiary Transcontinental Gas Pipe Line
Company, affecting 887 mln dlrs in debt securities.
    Transco Energy cumulative convertible preferred stock was
lowered to DP-12 (middle BB) from DP-10 (low BBB) and
Transcontinental Gas Pipe Line notes and debentures were
lowered to DP-10 from DP-8 (high BBB) and preferred stock to
DP-11 (high BB) from DP-9 (middle BBB).
    Duff and Phelps said the downgrade reflects an increase in
Transco's estimate of payments it will require to settle
take-or-pay liabilities from 550 mln dlrs to 900 mln dlrs.
Transco has already made more than 400 mln dlrs in cash
payments.
    In addition, natural gas remains in excess supply and the
ability of Transcontinental to keep its pipeline full is
subject to increaseing competition.
                   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6538" NEWID="18786">
<DATE>18-JUN-1987 12:13:06.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3736&#31;reute
b f BC-STORAGE-&lt;STK>-SAYS-CO   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>STORAGE &lt;STK> SAYS COURT CLEARS REORGANIZATION</TITLE>
<DATELINE>    LOUISVILLE, Colo., June 18 - </DATELINE><BODY>Storage Technology Corp said
the U.S. Bankruptcy Court has approved its plan of
reorganization and its emergence from Chapter 11 bankruptcy.
    Under the terms of the plan, the company said all approved
creditors claims will be paid in full in cash, equity and
notes. It said it will settle about 800 mln dlrs in liabilities
through the payment of about 132.5 mln dlrs in cash, 285 mln
dlrs of 10-year 13.5 pct notes and 192 mln additional common
shares.
    The company said existing common shareholders will hold
about 15 pct of the company's shares after the distribution.
    The company said the distribution of the cash, equity and
notes to creditors will start in July.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6539" NEWID="18787">
<DATE>18-JUN-1987 12:13:14.41</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;f3737&#31;reute
r f BC-MARINE-MIDLAND-&lt;MM>-A   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>MARINE MIDLAND &lt;MM> AFFIRMED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed Marine Midland Banks Inc's 500 mln dlrs of debt.
    S and P cited a 400 mln dlr provision to reserves for
developing country credits. The provision brings Marine's
reserve to about 29 pct and will enhance its flexibility in
actively managing this portfolio. S and P also said Marine's
earnings and asset quality are showing steady improvement.
    Affirmed were the bank's A-plus senior debt, A-rated
subordinated debt, A-minus preferred stock and A-1-plus
commercial paper. Also affirmed were lead bank Marine Midland
Bank NA's A-plus/A-1-plus certificates of deposit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6540" NEWID="18788">
<DATE>18-JUN-1987 12:16:26.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3750&#31;reute
u f BC-QUAKER-OATS-&lt;OAT>-CAN   06-18 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>QUAKER OATS &lt;OAT> CANNOT ACCOUNT FOR DECLINE</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Quaker Oats Co said in response to a
query that it knew of no corporate development to account for
the decline in its stock, trading at 54-3/8, off 2-1/8.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6541" NEWID="18789">
<DATE>18-JUN-1987 12:18:29.55</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3754&#31;reute
f f BC-UNOCAL-RAISED-C   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UNOCAL RAISED CRUDE OIL POSTINGS 50 CTS/BBL, WTI NOW 19
DLRS/BBL
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6542" NEWID="18790">
<DATE>18-JUN-1987 12:18:38.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3755&#31;reute
d f BC-&lt;VIRTUSONICS-CORP>-CU   06-18 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;VIRTUSONICS CORP> CUTS WARRANT EXERCISE PRICE</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Virtusonics Corp said it has cut the
exercise price of its warrants to 1.5 cts per share from 2.5
cts from June 22 until July 22.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6543" NEWID="18791">
<DATE>18-JUN-1987 12:19:30.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G T 
&#22;&#22;&#1;f3761&#31;reute
d f BC-FRENCH-FARMERS-WORRIE   06-18 0143</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH FARMERS WORRIED BY FAILURE OF EC TALKS</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>France's leading farmer's union, the
FNSEA, said it is worried that negotiations on the 1987/88 farm
price package will now be tackled by European Community leaders
who do not know the agricultural situation.
    The leaders have no specialised knowledge of the farm
dossier and have the tendency to sign compromises which are "too
broad," union leader Raymond Lacombe said. But he added French
Farm Minister Francois Guillaume had reason to reject a
compromise which would have been negative for the farm sector.
    EC ministers ended talks this morning having failed to get
any agreement on agricultural prices for the 1987/88 farm year,
which started on April 1 for certain products.
    Lacombe said the French government should guarantee
farmers' incomes until an agreement is reached.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6544" NEWID="18792">
<DATE>18-JUN-1987 12:20:20.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3766&#31;reute
r f BC-ZENITH-&lt;ZEN>,-SQUIBB   06-18 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH &lt;ZEN>, SQUIBB &lt;SQB> IN SUPPLY TALKS</TITLE>
<DATELINE>    RAMSEY, N.J., June 19 - </DATELINE><BODY>Zenith Laboratories Inc said it is
discusssing with Squibb Corp's SquibbMark division a three-year
agreement to supply some products to Squibb to sell under a
SquibbMark label.
    Zenith said the deal includes products it already markets
and some that are pending marketing approval from the U.S. Food
and Drug Administration.
    Zenith also said the proposed agreement is still in
negotiation and subject to approval by senior managements of
Squibb and Zenith.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6545" NEWID="18793">
<DATE>18-JUN-1987 12:21:15.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3773&#31;reute
r f BC-BAXTER-&lt;BAX>-SETS-BRI   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>BAXTER &lt;BAX> SETS BRIEFING FOR NEW PRODUCT</TITLE>
<DATELINE>    DEERFIELD, ILL., June 18 - </DATELINE><BODY>Baxter Travenol Laboratories Inc
said it will hold a press conference June 29 to introduce a new
information systems product that will "dramatically improve
hospital efficiency."
    No other details were disclosed.
    Baxter currently offers computerized information systems
that link hospital medical and business departments and
doctors' offices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6546" NEWID="18794">
<DATE>18-JUN-1987 12:22:37.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3779&#31;reute
r f BC-HOLDER-&lt;HOLD.O>-REORG   06-18 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLDER &lt;HOLD.O> REORGANIZATION PLAN APPROVED</TITLE>
<DATELINE>    TAMPA, Fla., June 18 - </DATELINE><BODY>Holder Communications Corp said
stockholders approved its reorganization plan with the &lt;General
Masonry Group> in Nashville, Tenn.
    The company said also approved was its name change to GMX
Communications Inc and an increase of authorized shares to 100
mln from 20 mln.
    Included in the reorganization, which is scheduled for
closing June 30, was the installation of a new sla e of five
directors.
    Holder said it owns eight radio stations and General
Masonry is engaged in masonry construction.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6547" NEWID="18795">
<DATE>18-JUN-1987 12:23:41.55</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;f3784&#31;reute
b f BC-UNOCAL-&lt;UCL>-RAISED-C   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>UNOCAL &lt;UCL> RAISED CRUDE OIL POSTINGS BY 50 CTS/BBL</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Unocal said it raised its postings for
crude oil by 50 cts a barrel, effective June 17. The company
said it is now posting West Texas Intermediate and West Texas
Sour at 19 dlrs a barrel.
    Unocal said its new Light Louisiana Sweet posted price is
19.35 dlrs a barrel. the price move follows a wave of increases
initiated by Sun Co yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6548" NEWID="18796">
<DATE>18-JUN-1987 12:25:28.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3792&#31;reute
u f BC-WOOLWORTH-&lt;Z>-ANNOUNC   06-18 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>WOOLWORTH &lt;Z> ANNOUNCES SALES STRATEGY</TITLE>
<DATELINE>    PRINCETON, N.J. - </DATELINE><BODY>FW Woolworth Co's chairman and chief
executive officer, Harold Sells, said the company remains
commmitted to its general merchandise division, despite the
growing importance of its specialty stores.
    The company said its sales in the first quarter ended May 2
were 1.53 billion dlrs, up from 1.41 billion dlrs in the same
period last year.
   
    Sells said the company's specialty stores contributed 65
pct to total operating profit last year, but profits in the
general merchandise sector have been improving. He said the
company has no plans to turn its back on the Woolworth stores.
    "We've spent alot of money on refurbishing and remodeling
our general merchandise stores, and we will continue to do so,"
he said.
    Sells said the number of general merchandise stores is not
increasing. But one of the companies stratagies is to increase
its core departments in the general merchandise stores into
specialty stores, he said.
    He said these include its framescene and cosmetics unit.
    He said the company continues to look at mergers and
acquisitions. But he stressed any acquisitions should make
sense from a strategy standpoint.
    "We're primarily looking for small, emerging growth stores
with a concept that's right to expand on national scale," he
said.
   
   Sells said the company has been looking at a number of
initial experiments on home video sales. He said Woolworth will
become involved this summer with J.C. Penny Co Inc's &lt;JCP>
Tele-Action program, along with a number of other retailers.
    Sells said the Tele-Action program, which is due to go on
air in the Chicago area this summer, will feature products from
Woolworth's Foot Locker unit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6549" NEWID="18797">
<DATE>18-JUN-1987 12:28:23.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G 
&#22;&#22;&#1;f3803&#31;reute
d f BC-WORLD-BANK-LOANS-MEXI   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK LOANS MEXICO 400 MLN DLRS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The World Bank said it has loaned
Mexico 400 mln dlrs to help support an agricultural credit
project.
    The project hopes to increase agricultural productivity,
exports, and real farm income by providing credit to private
farmers, ranchers and agro-industries, the bank said.
    The loan will be used for lending mainly by commercial
banks and the National Rural Credit Bank, Mexico's largest
agricultural credit lender, the bank said.
    It also said the project hopes to aid in reducing the
government's interest rate and credit subsidies.
    The project will also support improvement of the
agricultural credit system through reduction of subsidies for
credit and crop insurance, and increased domestic resource
mobilization, the bank said.
    The loan, guaranteed by the government, is for 15 years,
including three years of grace, at a variable interest rate -
currently 7.92 pct, the bank said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6550" NEWID="18798">
<DATE>18-JUN-1987 12:29:57.04</DATE>
<TOPICS><D>trade</D><D>reserves</D></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f3809&#31;reute
u f BC-ecuador-has-trade-sur   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR HAS TRADE SURPLUS IN FIRST FOUR MONTHS</TITLE>
<DATELINE>    QUITO, June 18 - </DATELINE><BODY>Ecuador posted a trade surplus of 10.6 mln
dlrs in the first four months of 1987 compared with a surplus
of 271.7 mln in the same period in 1986, the central bank of
Ecuador said in its latest monthly report.
    Ecuador suspended sales of crude oil, its principal export
product, in March after an earthquake destroyed part of its
oil-producing infrastructure.
    Exports in the first four months of 1987 were around 639
mln dlrs and imports 628.3 mln, compared with 771 mln and 500
mln respectively in the same period last year.
    Exports of crude and products in the first four months were
around 256.1 mln dlrs, compared with 403.3 mln in the same
period in 1986. The central bank said that between January and
May Ecuador sold 16.1 mln barrels of crude and 2.3 mln barrels
of products, compared with 32 mln and 2.7 mln respectively in
the same period last year.
    Ecuador's international reserves at the end of May were
around 120.9 mln dlrs, compared with 118.6 mln at the end of
April and 141.3 mln at the end of May 1986, the central bank
said. gold reserves were 165.7 mln dlrs at the end of May
compared with 124.3 mln at the end of April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6551" NEWID="18799">
<DATE>18-JUN-1987 12:30:17.28</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM 
&#22;&#22;&#1;f3812&#31;reute
f f BC-1988-U.S.-BUDGE   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>1988 U.S. BUDGET PLAN CLEARED BY KEY CONGRESSIONAL
COMMITTEE
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6552" NEWID="18800">
<DATE>18-JUN-1987 12:31:03.93</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;f3818&#31;reute
r f BC-REPUBLIC-BANK-&lt;RNB>-D   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>REPUBLIC BANK &lt;RNB> DEBT AFFIRMED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed about 600 mln dlrs of debt of Republic Bank NY Corp.
    Affirmed were Republic's AA senior debt, AA-minus
subordinated debt, A-plus preferred stock, A-1-plus commercial
paper and A/A-1-plus certificates of deposit.
    S and P cited the bank's decision to join the growing
number of U.S. banks that have set aside reserves for
developing country credits.
    Republic strengthed its reserves by 100 mln dlrs.
    Despite an expected second quarter loss, the firm remains
one of the best capitalized banks in the U.S., S and P said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6553" NEWID="18801">
<DATE>18-JUN-1987 12:33:18.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3835&#31;reute
u f BC-ENSOURCE-&lt;EEE>-SELLS   06-18 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>ENSOURCE &lt;EEE> SELLS CONVERTIBLE PREFERRED</TITLE>
<DATELINE>    HOUSTON, June 18 - </DATELINE><BODY>Ensource Inc said it has agreed to sell
one mln shares of convertible preferred stock to closely-held
United Meridian Corp for 25 dlrs a share and to grant United
warrants to buy 550,000 common shares.
    Ensource said United chairman Ralph E. Bailey, who recenty
retired as chairman of Du Pont Co's &lt;DD> Conoco Inc and vice
chairman of Du Pont, and United president Joseph D., Mahaffey
have been named to the board. It said United will later
designate two more members to the 10-member board.
    The company said it and United have also arranged for
modifications to Ensource's senior bank credit agreement.
    It said United will hold a 41 pct voting interest in
Ensource on receipt of the preferred, which carries an annual
dividend of 2.125 dlrs per share. Each share is convertible
into 2.315 common shares.
    The company said part of the dividends on the preferred
will be paid in more convertible preferred shares.
    It said the transaction is subject to United's approval of
the bank debt restructuring documents and Federal Trade
Commission approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6554" NEWID="18802">
<DATE>18-JUN-1987 12:34:23.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3844&#31;reute
r f BC-PAN-AM-&lt;PN>-RECEIVES   06-18 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>PAN AM &lt;PN> RECEIVES AIRBUS AIRCRAFT</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Pan American World Airways said it
took delivery of the first of 12 A310-300 aircraft on June 17,
becoming the first U.S. airline to receive the engines
developed by the European consortium Airbus Industrie.
    The airline is also the first to take United Technologies
Corp's &lt;UTX> Pratt and Whitney PW4000 engines.
    Pan American said it will intiially use the aircraft on
domestic routes and later for international service. Each
aircraf seats 12 first class passengers, 30 business class, and
162 coach.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6555" NEWID="18803">
<DATE>18-JUN-1987 12:34:36.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3846&#31;reute
d f BC-PAR-&lt;PAR>-TO-COMPETE   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>PAR &lt;PAR> TO COMPETE WITH LILLY'S &lt;ELI> KEFLEX</TITLE>
<DATELINE>    SPRING VALLEY, N.Y., June 18 - </DATELINE><BODY>Par Pharmaceutical Inc said
it will begin marketing a generic form of Eli Lilly and Co's 
Keflex, a widely used antibiotic whose patent expired April 21,
in about six weeks.
    Generic drugs are cheaper copies of brand name drugs that
have lost their patents.
    Par said its generic form of Keflex, called Cephalexin,
will be made by an overseas supplier so that Par will not have
to make a substantial investment in a separate facility
required to make the product.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6556" NEWID="18804">
<DATE>18-JUN-1987 12:35:27.52</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;f3850&#31;reute
b f BC-/1988-U.S.-BUDGET-CLE   06-18 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>1988 U.S. BUDGET CLEARED BY COMMITTEE</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>A joint House-Senate committee
formally approved a 1988 budget plan certain to touch off a
battle with President Reagan over taxes and defense.
    The budget, a compromise of earlier House and Senate
budgets, was negotiated yesterday by House and Senate
Democratic leaders.
    The plan, slated for House action next Tuesday, would
reduce next year's estimated 171-billion-dlr deficit to about
134 billion dlrs.
    It proposes 19 billion dlrs in new taxes next year and cuts
Reagan's defense mark.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6557" NEWID="18805">
<DATE>18-JUN-1987 12:37:06.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3857&#31;reute
r f BC-ACTON-&lt;ATN>-SETS-ONE   06-18 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>ACTON &lt;ATN> SETS ONE FOR FIVE REVERSE SPLIT</TITLE>
<DATELINE>    ACTON, Mass, June 18 - </DATELINE><BODY>Acton Corp said shareholders at the
annaul meeting approved a one-for-five reverse split that takes
effect June 25.
    It said holders also approved a limitation of directors'
liability and indemnity agreements between the company and its
officers and directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6558" NEWID="18806">
<DATE>18-JUN-1987 12:39:35.50</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3864&#31;reute
f f BC-FIRST-WISCONSIN   06-18 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FIRST WISCONSIN ADDS LOAN LOSSES, SEE 2ND QTR LOSS OF
2.80 DLRS A&#27;[B SHARE
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6559" NEWID="18807">
<DATE>18-JUN-1987 12:44:36.25</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E 
&#22;&#22;&#1;f3880&#31;reute
r f BC-REICHHOLD-&lt;RCI>-RAISE   06-18 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>REICHHOLD &lt;RCI> RAISES WAFERBOARD RESIN PRICES</TITLE>
<DATELINE>    MISSISSAUGA, Ont., June 18 - </DATELINE><BODY>Reichhold Chemicals Inc said
its Reichhold Ltd subsidiary has raised prices seven U.S. cent
per pound on powdered phenolic waferboard resins, effective
July 1, due to sharp increases in the cost of phenol.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6560" NEWID="18808">
<DATE>18-JUN-1987 12:47:33.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3891&#31;reute
r f BC-ENZON-&lt;ENZN.O>,-KODAK   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ENZON &lt;ENZN.O>, KODAK &lt;EK> TO BEGIN DRUG TEST</TITLE>
<DATELINE>    SOUTH PLAINFIELD, N.J., June 18 - </DATELINE><BODY>Enzon Inc and Eastman
Kodak Co's Eastman Pharmaceuticals division said the Food and
Drug Administration approved their application to allow
clinical testing of the PEG-uricase drug to proceed.
    Kodak owns 18.7 pct of Enzon and owns the marketing rights
for PEG-uricase and two other drugs Enzon is developing.
    The companies said PEG-uricase is intended to reduce uric
acid levels in patients undergoing chemotherapy and suffering
from gout. A build up of uric acid in the bloodstream, a common
side effect of chemotherapy, often leads to kidney failure.
    Enzon said that under the FDA's new rules to allow patients
with life-threatening diseases to get investigational drugs,
uric acid levels in an extremely ill patient decreased to
normal levels within 48 hours after the drug was injected.
    Separately, it said the FDA granted it permission to
include an unlimited number of patients in trials with PEG-ADA,
a drug used to treat a rare and usually fatal disease in
children called severe combined immuodeficiency.
    It said five children are being treated with the drug and
it hopes to file a new drug application PEG-ADA by late 1987.
When the NDA is approved, the drug can be marketed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6561" NEWID="18809">
<DATE>18-JUN-1987 12:48:27.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3892&#31;reute
u f BC-BANK-NF-NEW-ENGLAND-&lt;   06-18 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK NF NEW ENGLAND &lt;BKNE.O> SETS LOSS PROVISION</TITLE>
<DATELINE>    BOSTON, June 18 - </DATELINE><BODY>Bank of New England Corp said it will
make a special second quarter loan loss provision of 107 mln
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6562" NEWID="18810">
<DATE>18-JUN-1987 12:48:44.24</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;f3894&#31;reute
u f BC-DIAMOND-SHAMROCK-&lt;DRM   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>DIAMOND SHAMROCK &lt;DRM> RAISES CRUDE POSTINGS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Diamond Shamrock R and M said it raised
its crude oil contract prices by 50 cts a barrel, effective
June 17.
    The company said its new posting for West Texas
Intermediate crude is 19 dlrs a barrel. The price increase
follows similar moves by several other companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6563" NEWID="18811">
<DATE>18-JUN-1987 12:49:04.85</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3895&#31;reute
r f BC-XEROX-&lt;XRX>-AFFILIATE   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>XEROX &lt;XRX> AFFILIATE TO SELL S.AFRICAN UNIT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Xerox Corp's affiliate Rank Xerox Ltd
said it signed a definitive agreement to sell its Rank Xerox
South Africa Pty Ltd affiliate to Altron Group &lt;ALRN.O>, for
undisclosed terms.
    Xerox said the preliminary agreement to sell the affiliate
to Fintech, an Altron unit, had been reached in March. Xerox
said completion of the sale awaits approval of Fintech
shareholders and a review by the Johannesburg Stock Exchange.
     Rank Xerox South Africa was founded in 1964 as a wholly
owned unit of Rank Xerox, the Xerox affiliate that manufactures
and markets Xerox products in the Eastern Hemisphere.
    Rank Xerox said that of the 800-man workforce of Rank Xerox
South Africa, 40 pct are black, colored or Asian. The company
will become a wholly owned unit of Altron.
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6564" NEWID="18812">
<DATE>18-JUN-1987 12:49:48.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3899&#31;reute
u f BC-STATE-STREET-BOSTON-C   06-18 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>STATE STREET BOSTON CORP &lt;STBK.O> LIFTS DIV</TITLE>
<DATELINE>    BOSTON, June 18 -
    </DATELINE><BODY>Qtly div 11 cts vs 10 cts prior
    Pay July 15
    Record July 1
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6565" NEWID="18813">
<DATE>18-JUN-1987 12:50:20.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3903&#31;reute
r f BC-&lt;EVEREX-SYSTEMS-INC>   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;EVEREX SYSTEMS INC> FILES FOR INITIAL OFFERING</TITLE>
<DATELINE>    FREMONT, Calif., June 18 - </DATELINE><BODY>Everex Systems Inc said it has
filed for an initial public offering of 5,950,000 common
shares, including 4,950,000 to be sold in the U.S. and one mln
overseas.  Lead underwriters are Goldman, Sachs and Co and
Shearson Lehman Brothers Holdings Inc &lt;SHE>.
    The company said it will sell four mln of the shares and
shareholders the rest and the initial offering price is
expected to be 10 to 12 dlrs per share.  Company proceeds will
be used for financing accounts receivable and inventory and
repaying bank debt.
    Everex makes personal computer peripheral equipment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6566" NEWID="18814">
<DATE>18-JUN-1987 12:50:28.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3904&#31;reute
r f BC-DOSKOCIL-&lt;DOSK.O>-REP   06-18 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>DOSKOCIL &lt;DOSK.O> REPURCHASES SHARES</TITLE>
<DATELINE>    HUTCHINSON, Kan., June 18 - </DATELINE><BODY>Doskocil Cos Inc said it has
repurchased 310,000 of its common shares, or about five pct,
for undisclosed terms and its board has authorized the further
repurchase of another 200,000 shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6567" NEWID="18815">
<DATE>18-JUN-1987 12:51:02.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3907&#31;reute
r f BC-SCUDDER-NEW-ASIA-FUND   06-18 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>SCUDDER NEW ASIA FUND INITIAL OFFERING STARTS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Lead underwriters Salomon Inc &lt;SB>,
PaineWebber Group Inc &lt;PWJ> and Shearson Lehman Brothers
Holdings Inc &lt;SHE> said an initial public offering of seven mln
common shares of Scudder New Asia Fund Inc is underway at 12
dlrs each.
    Underwriters have been granted an option to buy up to
another 1,050,000 shares to cover overallotments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6568" NEWID="18816">
<DATE>18-JUN-1987 12:51:21.13</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;f3909&#31;reute
r f BC-MONOLITHIC-MEMORIES-I   06-18 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>MONOLITHIC MEMORIES INC &lt;MMIC.O> 3RD QTR NET</TITLE>
<DATELINE>    SANTA CLARA, Calif., June 18 - </DATELINE><BODY>Qtr ended June 7
    Shr six cts vs 17 cts
    Net 1,332,000 vs 3,658,000
    Sales 58.3 mln vs 51.6 mln
    Nine mths
    Shr 40 cts vs 25 cts
    net 8,875,000 vs 5,034,000
    Sales 158.4 mln vs 133.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6569" NEWID="18817">
<DATE>18-JUN-1987 12:51:46.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3912&#31;reute
r f BC-DOSKOCIL-&lt;DOSKD.O>-BU   06-18 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>DOSKOCIL &lt;DOSKD.O> BUYS BACK FIVE PCT OF STOCK</TITLE>
<DATELINE>    HUTCHINSON, KAN., June 18 - </DATELINE><BODY>Doskocil Companies Inc said it
bought back 310,000 shares or about five pct of its common
stock and its board authorized the repurchase of an additional
200,000 common shares.
    If completed, the total purchases would represent 8.5 pct
of Doskocil's outstanding common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6570" NEWID="18818">
<DATE>18-JUN-1987 12:52:02.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3914&#31;reute
r f BC-PEOPLES-SAVINGS-BANK   06-18 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>PEOPLES SAVINGS BANK &lt;PEBW.O> RAISES PAYOUT</TITLE>
<DATELINE>    WORCESTER, Mass., June 18 -
    </DATELINE><BODY>Qtly div 15 cts vs 12 cts prior
    Pay July 24
    Record July One
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6571" NEWID="18819">
<DATE>18-JUN-1987 12:52:06.96</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;f3915&#31;reute
r f BC-BANKAMERICA'S-&lt;BAC>-C   06-18 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKAMERICA'S &lt;BAC> COOPER JOINS ISFA</TITLE>
<DATELINE>    TAMPA, Fla., June 18 - </DATELINE><BODY>ISFA Corp said Thomas A. Cooper, who
recently resigned as president of BankAmerica Corp, has been
named chairman and chief executive officer of ISFA.
    ISFA operates Invest, a full-service brokerage program for
banks, and Insure, a retail insurance program.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6572" NEWID="18820">
<DATE>18-JUN-1987 12:52:14.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3916&#31;reute
r f BC-ASK-&lt;AMSKQ.O>-RECEIVE   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ASK &lt;AMSKQ.O> RECEIVES SETTLEMENT</TITLE>
<DATELINE>    WACO, Texas, June 18 - </DATELINE><BODY>Ask Corp said it received
approximately 1.3 mln dlrs from the settlement of claims from
joint litigation with Allied Signal Corp &lt;ALD> from a private
placement with a Houston based venture capital firm.
    Ask said it received approximately 800,000 dlrs from the
litigation, which will be reflected in the company's fourth
quarter ended July 31, 1987.
    The company also said it raised 500,000 dlrs through a
private placment of convertible debt with &lt;Cerrito Partners>.
Ask said Certito was granted warrants to acquire another
500,000 dlrs of restricted stock two to three years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6573" NEWID="18821">
<DATE>18-JUN-1987 12:52:22.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3917&#31;reute
r f BC-MONSANTO-&lt;MTC>-SAYS-N   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MONSANTO &lt;MTC> SAYS NUTRASWEET POSES NO ILLS</TITLE>
<DATELINE>    INDIANAPOLIS, June 18 - </DATELINE><BODY>Monsanto Co's G.D. Searle and Co
pharmaceutical division said researchers have concluded that
articifical sweeteners, including aspartame which is found in
Searle's NutraSweet, do not pose any significant health
problems for diabetic patients.
    The researchers conducted a survey of 100 diabetic patients
using sweeteners from six months to 20 years. Only five pct
using aspartame had health problems or discomfort, saccharine
drew no complaints, and sorbitol, another sweetener, caused
minor problems such as diarrhea and upset stomach in less than
25 pct of the patients, Searle said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6574" NEWID="18822">
<DATE>18-JUN-1987 12:52:32.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3918&#31;reute
u f BC-AIR-PRODUCTS-AND-CHEM   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>AIR PRODUCTS AND CHEMICALS INC &lt;APD> UPS PAYOUT</TITLE>
<DATELINE>    ALLENTOWN, Pa., June 18 -
    </DATELINE><BODY>Qtly div 25 cts vs 20 cts prior
    Pay Aug 10
    Record July Three
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6575" NEWID="18823">
<DATE>18-JUN-1987 12:53:30.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3920&#31;reute
u f BC-SALOMON-INC-&lt;SB>-SAW   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON INC &lt;SB> SAW REDUCTION IN REVENUES</TITLE>
<DATELINE>    New York, June 18 - </DATELINE><BODY>Salomon Inc had a reduction in trading
revenue in April and May, managing director Robert Salomon said
in response to questions.
    Analysts have said they believe the lower second quarter
profit predicted by Salomon Inc was partially the result of
trading losses and lower revenues from low trading volume. They
said they believe the firm, like others on Wall Street,
suffered most from the turbulent weeks for the bond market in
April.
    Robert Salomon would not comment on whether the firm had
actual trading losses, but he said he would not "quarrel" with
a New York Times article that said the firm's losses could have
amounted to 100 mln dlrs.
    "We haven't acknowledged any trading losses other than to
say that April was a difficult month, and you can presume
anything you want from that. we don't have a quarrel with the
new york times article," Salomon said.
     "There cleary was a reduction in the amount of revenues
generated in April and May was a little bit better," he said.
    The New York times attributed the figure to analysts and
unnamed Wall Street officials it said were familiar with the
firm's activities.
    Salomon Chairman John Gutfreund today in a statement
reiterated that the firm expects a profit in the second quarter
but sees lower earnings than last year's second quarter.
Analysts lowered their estimates yesterday to about half of
last year's 75 cts per share.
    "We believe this showing is satisfactory within the
framework of existing market conditions," said Gutfreund in a
statement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6576" NEWID="18824">
<DATE>18-JUN-1987 12:53:43.91</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f3921&#31;reute
f f BC-DUPONT-UNIT-RAI   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DUPONT UNIT RAISES CRUDE OIL POSTINGS 50 CTS/BBL,
EFFECTIVE YESTERDAY
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6577" NEWID="18825">
<DATE>18-JUN-1987 12:54:46.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3925&#31;reute
r f BC-GENERAL-AUTOMATION-&lt;G   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL AUTOMATION &lt;GENA.O> SETS PACT WITH IRS</TITLE>
<DATELINE>    ANAHEIM, Calif., June 18 - </DATELINE><BODY>General Automation Inc said it
has signed a definitive agreement to pay 4.5 mln dlrs to the
Internal Revenue Service in taxes, interest and penalties for
the years 1972 through 1981.
    It will make an initial payment on June 30 of 500,000 dlrs,
with ongoing quarterly payments over about two years.
    General Automation said in conjunction with the IRS
agreement, it has placed about one mln dlrs in five-year, eight
pct unsecured notes with a group of private investors.
    The notes are accompanied by five-year warrants to buy
about 110,000 shares of common stock at 6.38 dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6578" NEWID="18826">
<DATE>18-JUN-1987 12:55:09.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3928&#31;reute
r f BC-HYDRO-OPTICS-&lt;HOPC.O>   06-18 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>HYDRO OPTICS &lt;HOPC.O> CHAIRMAN RESIGNS</TITLE>
<DATELINE>    VALLEY STREAM, N.Y., June 18 - </DATELINE><BODY>Hydro Optics Inc said
Kenneth S. Roth has resigned as president and chairman. No
reason was given.
    It said director Melvin L. Gold has been named chairman and
chief executive officer and vice president-sales Barry Kay has
been named president and chief operating officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6579" NEWID="18827">
<DATE>18-JUN-1987 12:56:29.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3932&#31;reute
d f BC-MCDONNELL-DOUGLAS-&lt;MD   06-18 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>MCDONNELL DOUGLAS &lt;MD> GETS AIR FORCE CONTRACT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>McDonnell Douglas Corp said it received
authorization to build larger solid rocket boosters than the
U.S. Air Force originally planned.
    McDonnell Douglas, which said it subcontracts the orders,
also said the new solid rocket boosters will be 42 feet long,
increased from the original 36-foot long type. The company said
the additional size will cost the Air Force 10.3 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6580" NEWID="18828">
<DATE>18-JUN-1987 12:56:48.11</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;f3933&#31;reute
d f BC-APPLIED-SOLAR-ENERGY   06-18 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>APPLIED SOLAR ENERGY CORP &lt;SOLR.O> 2ND QTR NET</TITLE>
<DATELINE>    CITY OF INDUSTRY, Calif., June 18 - </DATELINE><BODY>Qtr ended May 2
    Oper shr profit three cts vs loss five cts
    Oper net profit 115,000 dlrs vs loss 152,000
    Revs 7,652,000 vs 4,279,000
    Six mths
    Oper shr profit ten cts vs loss 34 cts
    Oper net profit 342,000 vs loss 1,149,000
    Revs 14.0 mln vs 7,398,000
    Note: oper data does not include extraordinary gain of
28,000 dlrs, or one ct per shr, in 2nd qtr 1987 or or 118,000
dlrs, or four cts per shr, in six mths.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6581" NEWID="18829">
<DATE>18-JUN-1987 12:57:06.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3935&#31;reute
d f BC-SANFORD-CORP-&lt;SANF.O>   06-18 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>SANFORD CORP &lt;SANF.O> 2ND QTR MAY 31 NET</TITLE>
<DATELINE>    BELLWOOD, Ill., June 18 -
    </DATELINE><BODY>Shr 44 cts vs 23 cts
    Net 3,050,000 vs 1,555,000
    Sales 21.0 mln vs 19.2 mln
    1st half
    Shr 72 cts vs 36 cts
    Net 4,948,000 vs 2,447,000
    Sales 37.8 mln vs 34.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6582" NEWID="18830">
<DATE>18-JUN-1987 12:57:20.30</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;f3936&#31;reute
d f BC-CONVERGENT-SOLUTIONS   06-18 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>CONVERGENT SOLUTIONS INC &lt;CSOL.O> 2ND QTR NET</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>March 31 end
    Shr profit 14 cts vs loss two cts
    Net profit 345,544 vs loss 48,097
    Sales 1,032,224 vs 514,656
    Avg shrs 2,420,925 vs 2,289,925
    1st half
    Shr profit 21 cts vs profit nil
    Net profit 496,714 vs profit 5,602
    Sales 1,649,860 vs 1,099,379
    Avg shrs 2,407,334 vs 2,222,591
    NOTE: Prior half net includes 1,849 dlr tax credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6583" NEWID="18831">
<DATE>18-JUN-1987 12:57:24.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3937&#31;reute
r f BC-BELL-SOUTH-&lt;BLS>-UNIT   06-18 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL SOUTH &lt;BLS> UNIT GETS DIGITAL CUSTOMERS</TITLE>
<DATELINE>    ATLANTA, June 18 - </DATELINE><BODY>Bell South Corp's Southern Bell said
American Telephone and Telegraph Co's &lt;T> network systems and
&lt;Hayes Microcomputer Products> will use its integrated services
digital network services when the product is launched in March
1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6584" NEWID="18832">
<DATE>18-JUN-1987 12:58:39.60</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;f3943&#31;reute
h f BC-&lt;BARRICINI-FOODS-INC>   06-18 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;BARRICINI FOODS INC> 1ST QTR LOSS</TITLE>
<DATELINE>    OYSTER BAY, N.Y., June 18 -
    </DATELINE><BODY>Shr loss three cts vs loss three cts
    Net loss 78,456 vs loss 95,812
    Sales 513,607 vs 283,043
    Avg shrs 3,106,000 vs 2,933,333
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6585" NEWID="18833">
<DATE>18-JUN-1987 12:58:50.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3944&#31;reute
s f BC-J.P.-STEVENS-AND-CO-I   06-18 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>J.P. STEVENS AND CO INC &lt;STN> SETS QUARTERLY</TITLE>
<DATELINE>    NEW YORK, June 18 -
    </DATELINE><BODY>Qtly div 30 cts vs 30 cts prior
    Pay July 31
    Record July Six
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6586" NEWID="18834">
<DATE>18-JUN-1987 12:59:56.84</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;f3946&#31;reute
b f BC-FIRST-WISCONSIN-&lt;FWB>   06-18 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST WISCONSIN &lt;FWB> ADDS LOAN LOSSES</TITLE>
<DATELINE>    MILWAUKEE, WIS., June 18 - </DATELINE><BODY>First Wisconsin Corp said
directors of its First Wisconsin National Bank of Milwaukee
approved a 96 mln dlr increase in the bank's loan loss reserves
in response to uncertainty over the impact of third world debt
repayment problems.
    It said the reserve increase will result in a second
quarter loss to the corporation of an estimated 55 mln dlrs, or
2.80 dlrs a share.
    However, the company said it expects to report a profit for
the year.
    It said its consolidated 1987 earnings are projected to be
between 35 mln dlrs and 45 mln dlrs compared to 55 mln dlrs in
1986.
    It said dividends will not be affected by the increased
loan losses.
    In April, the company placed 59.7 mln dlrs in loans to
Brazil and Ecuador in non-accrual. First Wisconsin also cited
"a growing realization that repayment programs for less
developed countries will continue to be renegotiated into the
foreseeable future." It said its total loan loss reserves now
stand at 160 mln dlrs, or 3.5 pct of all outstanding loans.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6587" NEWID="18835">
<DATE>18-JUN-1987 13:04:56.72</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>mexico</D><D>japan</D><D>canada</D><D>switzerland</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V 
&#22;&#22;&#1;f3967&#31;reute
u f BC-EUROPEAN-COMMUNITY-CR   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>EUROPEAN COMMUNITY CRITICISES U.S TRADE MEASURES</TITLE>
<DATELINE>    GENEVA, June 18 - </DATELINE><BODY>The European Community (EC) accused the
United States of violating a political commitment to free trade
through practices including a tax on imported gasoline and a
customs user fee.
    EC ambassador Tran Van-Thinh made the formal charge to the
surveillance body of the General Agreement on Tariffs and Trade
(GATT), GATT spokesman David Woods told reporters.
    Woods also said the EC was joined by the United States in
criticising Brazil for extending its list of products for which
import licenses have been temporarily suspended, so as to
improve its balance of payments.
    The United States charged Japan with violating GATT rules
by restricting imports of agricultural products through an
import licensing system. The United States asked for
consultations with Tokyo on the issue.
    Tran charged that the trade measures contravened a
political commitment to halt and reverse trade barriers,
pledged by ministers in Punta del Este last September.
    When ministers established the four year Uruguay round to
negotiate freer trade in 13 areas, they set up the GATT
surveillance body to monitor this commitment, known in GATT
jargon as "standstill and rollback."
    Tran criticised Washington for the "superfund" tax on oil
imports, a customs user fee, and the removal of a special
machine tool (known as category FSC34) from its government
procurement list for reasons of national security.
    Warren Lavorel, a U.S. Trade official, defended the
policies, saying they did not violate GATT trade rules.
    The surveillance body will send a record of today's talks
to the Trade Negotiating Committee, which oversees the round,
to decide any further action on the charges.
    The oil tax and customs user fee have already been the
subject of formal GATT dispute panels set up outside the
Uruguay Round to rule on the legality of the practices.
    The ruling GATT Council yesterday adopted a dispute panel's
report and ruled that the U.S. Superfund tax on oil imports
breached trade rules. It called on Washington to modify its
legislation.
    Mexico and Canada, along with the European Community,
brought the dispute to the GATT last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6588" NEWID="18836">
<DATE>18-JUN-1987 13:05:39.72</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f3970&#31;reute
f f BC-COMMITMENTS-TO   06-18 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COMMITMENTS TO NEW ARGENTINE LOAN REACH 91 PCT, CLOSE TO
"CRITICAL MASS," CITIBANK SAYS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6589" NEWID="18837">
<DATE>18-JUN-1987 13:08:42.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3981&#31;reute
r f BC-MERCHANTSBANK-&lt;MCBKA>   06-18 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCHANTSBANK &lt;MCBKA> GETS DIVIDEND DISTRIBUTION</TITLE>
<DATELINE>    BOSTON, June 18 - </DATELINE><BODY>MerchantsBank of Boston said it has
received an 8,400,000 dlr dividend from the Co-Operative
Central Bank Share Insurance Fund, and the amount will be
included in revenues for the second quarter.
    The fund is liquidating since all cooperative banks in
Massachusetts have obtained federal insurance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6590" NEWID="18838">
<DATE>18-JUN-1987 13:09:09.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3982&#31;reute
u f BC-FERRO-&lt;FOE>-SEES-STRO   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FERRO &lt;FOE> SEES STRONG 2ND QTR, SIX MONTHS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Ferro Corp said it expects to report
second quarter earnings of about seven mln dlrs, or about 1.02
dlrs a share, on sales of about 220.0 mln dlrs
    In the year ago quarter, the maker of industrial specialty
materials earned 5.1 mln dlrs or 75 cts a share on sales of
185.1 mln dlrs.
    Based on its current second quarter estimates, Ferro said
it will have earned 11.7 mln dlrs or two dlrs a share on sales
of 425 mln dlrs for the six months ending June 30. In the
year-ago six-month period, Ferro earned 9.7 mln dlrs or 1.43
dlrs a share on sales of 359.7 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6591" NEWID="18839">
<DATE>18-JUN-1987 13:10:31.82</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;f3986&#31;reute
r f BC-CALIFORNIA-ENERGY-&lt;CE   06-18 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>CALIFORNIA ENERGY &lt;CECI.O> IN GEOTHERMAL FIND</TITLE>
<DATELINE>    SANTA ROSA, Calif., June 18 - </DATELINE><BODY>California Energy Co Inc said
its 10th geothermal production well at the COSO Project in
China Lake, Calif., tested one mln pounds of geothermal steam
per hour at 420 degrees Fahrenheit from a depth of 3,000 feet.
    The company said it now has geothermal resrves at COSO
sufficient to produce 30 megawatts of power for 30 years. It
said it plans to drill another 20 wells at China Lake in 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6592" NEWID="18840">
<DATE>18-JUN-1987 13:14:40.32</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;f3994&#31;reute
u f BC-DUPONT-UNIT-RAISES-CR   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>DUPONT UNIT RAISES CRUDE OIL POSTINGS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Conoco Inc, a subsidiary of duPont
deNemours &lt;DD>, said it raised the contract price it will pay
for all grades of crude oil 50 cts a barrel, effective
yesterday.
    The increase brings Conoco's posted price for West Texas
Intermediate to 19.00 dlrs a barrel. The West Texas Sour grade,
at 34 API, now stands at 18.10 dlrs a barrel. Light Louisiana
was also raised 50 cts to 19.35 dlrs barrel.
    Conoco last changed its crude postings on May 21.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6593" NEWID="18841">
<DATE>18-JUN-1987 13:15:30.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f3997&#31;reute
r f BC-LM-ERICSSON-&lt;ERICY>-U   06-18 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>LM ERICSSON &lt;ERICY> UNIT INTRODUCING PRODUCT</TITLE>
<DATELINE>    RICHARDSON, Texas, June 18 - </DATELINE><BODY>&lt;LM Ericsson Telephone Co> of
Sweden said its Ericsson unit in the U.S. introduced a cellular
system for small cellular telephone markets.
    The company said its CMS 8800/S system incorporates
Ericsson hardware and software.
    It said extra base stations and voice channels can be added
to the system in modular blocks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6594" NEWID="18842">
<DATE>18-JUN-1987 13:16:42.81</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;f4001&#31;reute
r f BC-ALLEGHENY-INTERNATION   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGHENY INTERNATIONAL &lt;AG> SELLS THREE UNITS</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>Allegheny International Inc said it
has sold its Chemetron Railway Products Inc, True Temper
Railway Appliances Inc and Allegheny Axle Co units to
newly-formed Chemetron Railway Products Inc for undisclosed
terms.
    It said the new company was formed by senior management of
the three railway product units and Kleinwort Benson Group of
London.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6595" NEWID="18843">
<DATE>18-JUN-1987 13:20:28.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V 
&#22;&#22;&#1;f4018&#31;reute
b f BC-/COMMITMENTS-TO-NEW-A   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMITMENTS TO NEW ARGENTINE LOAN REACH 91 PCT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Commitments to Argentina's external
financing program for 1987 and 1988 have reached about 91 pct
of the 1.95 billion dlrs in new loans that banks have been
asked to provide, Citibank and Argentina said in a joint
statement.
    This percentage is close to the "critical mass" of
commitments that the International Monetary Fund has requested
as a condition for releasing new loans to the country.
    Senior Citibank executive William Rhodes said he was
encouraged by the banks' response and that telexed commitments
continue to arrive.
    The response of Argentina's 350 foreign bank creditors had
been eagerly awaited because the package is the first to be
marketed since U.S. banks, led by Citibank, decided to take
large second-quarter losses in order to boost their reserves
against existing loans to developing countries.
    Some bankers had feared that banks would refuse to lend new
money so soon after taking a "hit" on the old loans, but
today's news delivers a decisive rebuff to those skeptics.
    The strong response to the package was partly the result of
the inducement of a 3/8 pct early-participation fee for those
banks that agreed to sign up by June 17, bankers said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6596" NEWID="18844">
<DATE>18-JUN-1987 13:20:58.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4023&#31;reute
r f BC-PACIFIC-FIRST-&lt;PFFS.O   06-18 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC FIRST &lt;PFFS.O> CHAIRMAN RESIGNS</TITLE>
<DATELINE>    TACOMA, Wash., June 18 - </DATELINE><BODY>Pacific First Financial Corp said
president Jerry Pohlman was appointed chairman and chief
executive officer, replacing James Anderson who resigned.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6597" NEWID="18845">
<DATE>18-JUN-1987 13:21:04.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4024&#31;reute
s f BC-BRAINTREE-SAVINGS-BAN   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAINTREE SAVINGS BANK &lt;BTSB.O> SETS PAYOUT</TITLE>
<DATELINE>    BRAINTREE, Mass., June 18 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay July 15
    Record June 26
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6598" NEWID="18846">
<DATE>18-JUN-1987 13:21:14.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4025&#31;reute
s f BC-COMMERCE-CLEARING-HOU   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMERCE CLEARING HOUSE INC &lt;CCLR.O> DIVIDEND</TITLE>
<DATELINE>    RIVERWOODS, ILL., June 18 - 
    </DATELINE><BODY>Qtly div 32 cts vs 32 cts prior qtr
    Pay 29 July
    Record 2 July
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6599" NEWID="18847">
<DATE>18-JUN-1987 13:22:46.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4033&#31;reute
r f BC-AMVESTORS-&lt;AVFC.O>OVE   06-18 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>AMVESTORS &lt;AVFC.O>OVERALLOTMENT OPTION EXERCISED</TITLE>
<DATELINE>    TOPEKA, Kan, June 18 - </DATELINE><BODY>AmVestors Financial Corp said
underwriters Smith Barney, Harris Upham and Co Inc and Morgan
Keegan Inc &lt;MOR> have exercised their overallotment option for
an additional 10,000 common shares at 9.50 dlrs each in
connection with a recent offering of 100,000 AmVestors shares.
    It said it realized net proceeds of 886,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6600" NEWID="18848">
<DATE>18-JUN-1987 13:23:28.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4038&#31;reute
s f BC-SCOTT-AND-STRINGFELLO   06-18 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>SCOTT AND STRINGFELLOW FINANCIAL &lt;SCOT.O> PAYOUT</TITLE>
<DATELINE>    RICHMOND, Va, June 18 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay July 15
    Record July One
    NOTE: Scott and Stringfellow Financial Inc
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6601" NEWID="18849">
<DATE>18-JUN-1987 13:23:46.87</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>zambia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M C 
&#22;&#22;&#1;f4039&#31;reute
d f BC-ZAMBIAN-COPPER-INDUST   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>ZAMBIAN COPPER INDUSTRY HOPES FOR STEADY OUTPUT</TITLE>
<AUTHOR>    By Buchizya Mseteka, Reuters</AUTHOR>
<DATELINE>    LUSAKA, June 18 - </DATELINE><BODY>Zambia's copper mining industry is hoping
to achieve and maintain production at over 500,000 tonnes a
year in the next few years despite low world prices,
deteriorating ores and shortages of mine inputs, industry
officials said.
    But Zambia's decision to abandon last May 1 a tough
International Monetary Fund (IMF) economic recovery program has
introduced an element of uncertainty into plans to restructure
the ailing industry and boost profitability, they said.
    Copper production by the government-controlled Zambia
Consolidated Copper Mines (ZCCM) for the 1987 financial year
ended March 31 improved slightly to about 471,000 tonnes from a
record 1986 low of 463,354 tonnes.
    "We are convinced that by the end of the 1988 financial
year, copper production could well be over 500,000 tonnes due
to greater availability of spares and equipment," a ZCCM
official said.
    ZCCM officials said the production of cobalt, another
strategic income earner, will also be tailored to meet demand.
    Finished production in 1986 was 4,565 tonnes, 911 tonnes
higher than the previous year and the best production achieved
to date.
    Protracted low world metal prices have badly hit the copper
industry in Zambia, the world's fifth biggest producer. Mining
is monopolised by ZCCM and accounts for about 90 pct of the
country's foreign exchange earnings.
    Production has also been seriously affected in recent years
by equipment breakdowns, deteriorating ore and shortages of
spare parts, fuel and lubricants. The 463,354 tonnes output
last year compared with a peak 1975 output of 700,000 tonnes.
    A five-year production and investment plan launched in 1984
by ZCCM is being funded by the European Community, the African
Development Bank and the World Bank.
    The plan foresees the shutdown of some seven mining and
metallurgical units on the grounds they are unprofitable.
    ZCCM, the second largest employer after the government, has
said it intends to lay off 20,000 of its 60,000 workforce as
part of the plan.
    More than 250 mln dlrs have so far been channelled into the
industry in a bid to improve efficiency and profitability under
the five-year restructuring plan.
    Company officials said although reserves were being
depleted, Zambia could continue to produce copper beyond the
end of the century, though at lower levels of production.
    Industry sources said ZCCM's projected pre-tax profit for
the financial year ended March 31 would be around 500 mln
kwacha. But with the current mineral export tax level being
levied, a net loss is likely to be registered.
    ZCCM recorded a net loss of 718 mln kwacha in 1986 compared
with a net profit of 19 mln kwacha the year before.
    Under the foreign exchange auction system introduced in
1985, ZCCM's profits from its foreign exchange earnings rose as
the value of the kwacha fell to 21 to the dollar from just over
two to the dollar.
    But on May 1, President Kenneth Kaunda abolished the
auctioning system, inspired by the International Monetary Fund,
and announced Zambia would pursue a go-it-alone economic
strategy based on national resources.
    ZCCM officials are still cautious over what effects the
break with the IMF will have on the industry's plans.
    "We are still consulting to see how the new measures will
affect us but it is too early to say just how we shall fare
under the new situation," Peter Hansen, director of operations
and third in the ZCCM hierarchy, told Reuters.
    Some analysts believe the new officially-fixed exchange
rate of eight kwacha to the dollar will hit ZCCM's export
profits.
    "Most specialists I have talked to tell me the break-even
point for ZCCM is a rate of 10 kwacha per dollar," Frederick
Chiluba, leader of the Zambian Congress of Trade Unions said.
    High production costs continue to bedevil the Zambian
industry.
    Zambia mines copper at a relatively expensive rate of 69
cents per pound, compared with 55 cents in the United States
and under 40 cents in Chile.
    The industry also faces transport problems due to Zambia
being landlocked. The government confirmed this year it had
stopped sBending copper south through South Africa.
    Over 80 pct of shipments, some 35,000 tonnes a month, are
sent by rail to the Tanzanian port of Dar-es-Salaam, while
5,000 tonnes go via Zimbabwe to the Mozambique port of Beira.
Transport has often been hit by shortages of wagons, spares and
fuel.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6602" NEWID="18850">
<DATE>18-JUN-1987 13:23:50.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4040&#31;reute
s f BC-EXCEL-INDUSTRIES-INC   06-18 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>EXCEL INDUSTRIES INC &lt;EXC> DIVIDEND SET</TITLE>
<DATELINE>    ELKHART, Ind, June 18 -
    </DATELINE><BODY>Qtly div nine cts vs nine cts prior
    Pay July 20
    Record July 6
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6603" NEWID="18851">
<DATE>18-JUN-1987 13:24:06.94</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T 
&#22;&#22;&#1;f4042&#31;reute
u f BC-RIO-DE-JANEIRO-DOCKER   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>RIO DE JANEIRO DOCKERS STRIKE OVER WAGES</TITLE>
<DATELINE>    RIO DE JANEIRO, JUNE 18 - </DATELINE><BODY>Rio de Janeiro's 3,500
dockworkers went on strike for an indefinite period today to
demand wage increases, a spokesman for the dockers said.
    The Rio dockers did not get support from their colleagues
in Santos, Brazil's main port, but the spokesman said they
would not return to work unless their demands were met.
    Earlier this week, some 65,000 dockworkers cancelled a
scheduled national strike to pressure port officials to give
them a wage increase and other benefits.
    A Rio port spokesman said the halt would cause daily losses
of about 100,000 U.S. dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6604" NEWID="18852">
<DATE>18-JUN-1987 13:24:27.22</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4045&#31;reute
r f BC-FLUOR-&lt;FLR>-WINS-GENE   06-18 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>FLUOR &lt;FLR> WINS GENERAL ELECTRIC &lt;GE> CONTRACT</TITLE>
<DATELINE>    IRVINE, Calif., June 18 - </DATELINE><BODY>Fluor Corp said it won a contract
with General Electric to design, construct and deliver modules
for a methyl chloride process addition.
    The value of the contract was not disclosed.
    Fluor said its Applied Engineering Co unit will construct
28 modular sections and deliver them to GE's Waterford, N.Y.
Silicone Products division plant.
    Methyl chloride is an integral part of silicone production.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6605" NEWID="18853">
<DATE>18-JUN-1987 13:27:05.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4055&#31;reute
r f BC-SHAWMUT-&lt;SHAS.O>-REPU   06-18 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>SHAWMUT &lt;SHAS.O> REPURCHASES 400,000 SHARES</TITLE>
<DATELINE>    BOSTON, June 18 - </DATELINE><BODY>Shawmut Corp said it has repurchased
400,000 common shares and placed them in its treasury.
    The company has about 16.1 mln shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6606" NEWID="18854">
<DATE>18-JUN-1987 13:27:16.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4056&#31;reute
r f BC-LITTLE-PRINCE-&lt;LTLP.O   06-18 0037</UNKNOWN>
<TEXT>&#2;
<TITLE> LITTLE PRINCE &lt;LTLP.O> SETTLES SUIT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Little Prince Productions Ltd said it
settled litigation with Nederlander Group, receiving one mln
dlrs and paying Nederlander 38,000 dlrs.
                    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6607" NEWID="18855">
<DATE>18-JUN-1987 13:28:59.84</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;f4064&#31;reute
u f BC-CONT'L-ILLINOIS-&lt;CIL>   06-18 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>CONT'L ILLINOIS &lt;CIL> CANNOT EXPLAIN STOCK MOVE</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Continental Illinois Corp said it knows
of know reason why its stock was trading higher in heavy
volume.
    The stock was up 1/2 to 5-3/8 on turnover of 1,386,000
shares, making it one of the most actively traded NYSE issues.
    Traders earlier said Goldman Sachs and Co was trading on
the stock. However, Goldman Sachs banking analyst Robert
Albertson had not placed the stock on his recommended list, his
office told Reuters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6608" NEWID="18856">
<DATE>18-JUN-1987 13:30:02.87</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4068&#31;reute
f f BC-GENCORP-SAID-AG   06-18 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GENCORP SAID AGREEMENT TO SELL RKO PICTURES TERMINATED
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6609" NEWID="18857">
<DATE>18-JUN-1987 13:30:20.87</DATE>
<TOPICS><D>acq</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f4070&#31;reute
r f BC-KELLEY-OIL-&lt;KLY>-BUYI   06-18 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>KELLEY OIL &lt;KLY> BUYING OIL PROPERTIES</TITLE>
<DATELINE>    HOUSTON, June 18 - </DATELINE><BODY>Kelley Oil and Gas Partners Ltd said it
has agreed to purchase all of CF Industries Inc's oil and
natural gas properties for about 5,500,000 dlrs, effective July
1.
    It said the Louisiana properties had proven reserves at
year-end of 11 billion cubic feet of natural gas and 85,000
barrels of oil, condensate and natural gas liquids.
    Kelley said it currently owns working interests in some of
the properties.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6610" NEWID="18858">
<DATE>18-JUN-1987 13:30:37.84</DATE>
<TOPICS><D>fuel</D></TOPICS>
<PLACES><D>tanzania</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4071&#31;reute
u f BC-TANZANIA-RAISES-FUEL   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>TANZANIA RAISES FUEL PRICES,TAXES IN 1987/8 BUDGET</TITLE>
<DATELINE>    DAR ES SALAAM, June 18 - </DATELINE><BODY>The Tanzanian government, in its
second annual budget since embarking on an economic recovery
program inspired by the International Monetary Fund, announced
increases in fuel prices and sales tax and higher levies on
government services.
    Finance Minister Cleopa Msuya said the government expected
to spend 77.33 billion shillings in the financial year 1987/8,
39 pct more than this year's estimate. Revenue would provide
48.84 billion shillings, leaving a deficit of 28.49 billion to
be financed through domestic and foreign loans.
    This year's budget initially projected a deficit of only
3.35 billion shillings but in mid-year the government had to
impose new taxes to keep the deficit roughly on target. No
figure for the final deficit was avaialble.
    The budget gave civil servants a 20 pct pay rise with
effect from July 1, to compensate for inflation of more than 30
pct.
    Msuya said regular petrol would go up 52 pct, with similar
increases in the cost of premium and kerosene. Diesel would
rise by 75 pct.
    The higher levies affect official transactions such as road
tolls, vehicle transfers and various licence fees, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6611" NEWID="18859">
<DATE>18-JUN-1987 13:31:17.08</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4078&#31;reute
h f BC-LEASEWAY-TRANSPORTATI   06-18 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>LEASEWAY TRANSPORTATION &lt;LTC>COMPLETES UNIT SALE</TITLE>
<DATELINE>    CLEVELAND, June 18 - </DATELINE><BODY>Leaseway Transportation Corp said it
has completed the previously-announced sale of its Leaseway of
Puerto Rico Inc subsidiary to Caguas Central Federal Savings
Bank for undisclosed terms.
    The company said the sale satisfied a condition for its
proposed acquisition by an investor group led by Citicorp &lt;CCI>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6612" NEWID="18860">
<DATE>18-JUN-1987 13:31:53.26</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T 
&#22;&#22;&#1;f4081&#31;reute
b f BC-IBC-DETAILS-PLANS-TO   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>IBC DETAILS PLANS TO PAY CREDITORS</TITLE>
<DATELINE>    RIO DE JANEIRO, June 18 - </DATELINE><BODY>The Brazilian Coffee Institute,
IBC, gave details of its plans to pay the 18 companies that
bought 630,000 bags of robusta coffee in the London market on
its behalf last September.
    An IBC spokesman told Reuters that a 15 mln dlr loan from
the Banco do Brasil would be used to pay five mln dlrs a month
in June, July and August to creditors.
    He said an auction of coffee would raise additional money
and added that a Reuter report on June 16 gave the wrong
impression that the auction was necessary to raise part of the
15 mln dlrs. No date has yet been set for the auction.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6613" NEWID="18861">
<DATE>18-JUN-1987 13:32:12.24</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;f4083&#31;reute
d f BC-MAGELLAN-SETS-MERGER   06-18 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>MAGELLAN SETS MERGER WITH BALZAC INVESTMENTS</TITLE>
<DATELINE>    DALLAS, June 18 - </DATELINE><BODY>&lt;Magellan Corp> said its shareholders
approved the merger of Magellan with &lt;Balzec Investments Inc>,
 a privately held company based in Dallas.
    Magellan, a company without operations that was formed to
acquire an operating entity, said it plans to engage in the
development and marketing of a battery charger product owned by
Balzac.
    Magellan did not disclose the terms of the agreement.
    Following the merger, Balzac shareholders will hold 80 pct
of the outstanding stock of Magellan, the company said.
   
    Magellan said it will be the surviving corporation
following the merger.
    The companies said they expect the merger will occur after
the declaration of effectiveness of an amendment to Magellan's
registration statement relating to its common stock purchase
warrants and the underlying shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6614" NEWID="18862">
<DATE>18-JUN-1987 13:32:42.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>bresser-pereira</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f4087&#31;reute
r f AM-BRAZIL-BANK   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK MISSION HOLDS LOAN TALKS WITH BRAZIL</TITLE>
<DATELINE>    BRASILIA, June 18 - </DATELINE><BODY>A World Bank mission today held talks
with a senior Finance Ministry official to discuss Brazil's
requests for loans, ministry officials said.
    They said Brazil, the bank's biggest customer, was asking
for two billion dlrs for the financial year starting in July,
including 500 mln dlrs for the energy sector.
    The mission, headed by Gabin Ran Kankani, head of the
Bank's Brazil division, met Finance Ministry secretary Nailson
Nobrega.
    Officials said they had provided the World Bank with
information on the economic plan now being drawn up by Finance
Minister Luiz Carlos Bresser Pereira.
    The government has invited the IMF to come to study the
plan next Monday.
    Bresser Pereira will use the plan as the basis for
negotiations with creditors next month in an attempt to
reschedule the country's 111 billion dollar debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6615" NEWID="18863">
<DATE>18-JUN-1987 13:33:28.58</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4094&#31;reute
u f BC-/GENCORP-&lt;GY>-SAYS-RK   06-18 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> SAYS RKO UNIT SALE TERMINATED</TITLE>
<DATELINE>    AKRON, Ohio, June 18 - </DATELINE><BODY>GenCorp said its agreement to sell
its RKO Pictures subsidiary to a management group has been
terminated because the group could not raise the necessary
financing.
    The company said it will again seek buyers for the unit and
its library of over 750 films.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6616" NEWID="18864">
<DATE>18-JUN-1987 13:34:16.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>israel</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4102&#31;reute
a f BC-ELBIT-COMPUTERS-&lt;ELBT   06-18 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>ELBIT COMPUTERS &lt;ELBTF.O> GETS CONTRACTS</TITLE>
<DATELINE>    BOSTON, June 18 - </DATELINE><BODY>Elbit Computers Ltd of Israel said it has
received a 6,300,000 dlr contract from a buyer it did not name
for its DASHJ helmet-mounted sight system, which allows pilots
to aim weapons by looking at targets.
    The company said deliveries are expected to start in 18
months and be completed 12 months later.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6617" NEWID="18865">
<DATE>18-JUN-1987 13:36:00.62</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f4104&#31;reute
r f BC-RIO-DE-JANEIRO-DOCKER   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>RIO DE JANEIRO DOCKERS STRIKE</TITLE>
<DATELINE>    RIO DE JANEIRO, JUNE 18 - </DATELINE><BODY>Rio de Janeiro's 3,500
dockworkers went on strike for an indefinite period today to
demand wage increases, a spokesman for the dockers said.
    The Rio dockers did not get support from their colleagues
in Santos, Brazil's main port, but the spokesman said they
would not return to work unless their demands were met.
    Earlier this week, some 65,000 dockworkers cancelled a
scheduled national strike to pressure port officials to give
them a wage increase and other benefits.
    A Rio port spokesman said the halt would cause daily losses
of about 100,000 U.S. Dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6618" NEWID="18866">
<DATE>18-JUN-1987 13:36:35.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4106&#31;reute
r f BC-KRAFT   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FTC CHARGES KRAFT &lt;KRA> WITH FALSE ADVERTISING</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The Federal Trade Commission charged
Kraft Inc with false and misleading advertising by overstating
the calcuim content of its Kraft Singles cheese product.
    In an administrative complaint, the FTC charged the
Glenview, Ill., food and consumer products company with
claiming that a slice of Kraft Singles American Pasteurized
Process Cheese Food (Kraft Singles) contains the same amount of
calcium as five ounces of milk, when it does not.
    The company also falsely advertised that Kraft Singles
contained more calcium than do most imitation cheese slices,
the FTC charged.
    The FTC complaint also charged that Kraft said it could
substantiate these claims when, in fact, it could not.
    "Nutritional information is important to consumers, but it
can be difficult for them to verify." FTC Bureau of Consumer
Protection Director William MacLeod said in a statement. "That
is why we seek to maintain the accuracy of nutritional claims."
    The FTC, which voted 4-1 in favor of issuing the complaint,
generally takes such action when it has reason to believe that
the law has been or is being violated and where it apears to
the commission that a proceeding is in the public interest.
    The filing of an administrative complaint marks the
beginning of a proceeding that often takes up to a year in
which the allegations will be ruled upon after a formal
hearing.
    If the commission's allegations are upheld, Kraft could be
prohibited from misrepresenting the calcium or other nutrient
content of its cheese-type products, including those made in
comparative ads.
    The company could also be prohibited from making such
claims without having competent and reliable scientific
evidence.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6619" NEWID="18867">
<DATE>18-JUN-1987 13:37:13.88</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4110&#31;reute
u f BC-U.S.-SAID-UNFAIRLY-PR   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SAID UNFAIRLY PROTECTING DEFENSE INDUSTRY</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>Britain's Defence Minister George Younger
said the U.S. Was unfairly protecting its defence industry, and
this could lead to British firms demanding counter-measures.
    Younger told a U.S. Chamber of Commerce meeting that U.S.
Legislators were failing to realise "the true nature of the
two-way street in terms of ideas, technology and equipment.
    A British parliamentary report said that up to March
British firms had been awarded just 34 mln dlrs worth of
contracts for the Strategic Defence Initiative, compared with
the 1.5 billion dlrs Britain had hoped to secure.
    The committee said U.S. Technology export restrictions and
"selectiveness" towards foreign contractors had denied British
competitors more lucrative orders and largely excluded them
from technological research for SDI.
    Younger said London had given U.S. Companies contracts
under conditions of fair and open competition. "All we ask is
for our companies to be given similar opportunities," he added.
    If new American legislation aimed at curbing unfair
subsidies was used to exclude foreign suppliers it would not be
surprising if British firms pressed for retaliatory measures,
Younger said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6620" NEWID="18868">
<DATE>18-JUN-1987 13:38:06.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F 
&#22;&#22;&#1;f4113&#31;reute
r f BC-CANADA-POST-PRESENTS   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA POST PRESENTS NEW CONTRACT OFFER</TITLE>
<DATELINE>    OTTAWA, June 18 - </DATELINE><BODY>Canada Post said it presented its
striking letter carriers with a new contract offer but both
sides said there was little indication the offer would end the
strike.
    The crown agency said it is being held back by government
restraint policies and has little move to manoeuvre while while
the union said it expected the post office to demand the same
contract concessions it has already rejected.
    The rotating walkouts spread today to the four Atlantic
provinces and other parts of Quebec while employees in Montreal
and Calgary returned to work.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6621" NEWID="18869">
<DATE>18-JUN-1987 13:39:26.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4115&#31;reute
d f BC-UNITED-BUILDING-FILES   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED BUILDING FILES FOR INITIAL OFFERING</TITLE>
<DATELINE>    PHOENIX, Ariz, June 18 - </DATELINE><BODY>United Building Services Corp said
it filed a registration statement with the Securities and
Exchange Commission covering a proposed initial public offering
of 820,000 common shares.
    Proceeds from the offering will be used to repay debt, to
develop and market additional specialty construction services
and for general corporate purposes.
    United Building said it provides specialty construction
services in commercial, residential and governmental
construction projects principally in Arizona, Colorado and
California.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6622" NEWID="18870">
<DATE>18-JUN-1987 13:39:58.77</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;f4116&#31;reute
r f BC-GODFREY-CO-&lt;GDFY.O>-1   06-18 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>GODFREY CO &lt;GDFY.O> 1ST QTR MAY 30 NET</TITLE>
<DATELINE>    WAUKESHA, WIS., June 18 -
    </DATELINE><BODY>Shr 36 cts vs 28 cts
    Net 2,002,000 vs 1,518,000
    Sales 166.0 mln vs 159.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6623" NEWID="18871">
<DATE>18-JUN-1987 13:40:11.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4117&#31;reute
s f BC-GENERAL-SIGNAL-CORP-&lt;   06-18 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL SIGNAL CORP &lt;GSX> SETS QTLY DIVIDEND</TITLE>
<DATELINE>    STAMFORD, Conn., June 18 - 
    </DATELINE><BODY>Qtly div 45 cts vs 45 cts prior
    Pay October one
    Record September four
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6624" NEWID="18872">
<DATE>18-JUN-1987 13:40:58.90</DATE>
<TOPICS><D>strategic-metal</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4120&#31;reute
d f BC-PINNACLE-WEST-CAPITAL   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>PINNACLE WEST CAPITAL &lt;PNW> BUYS MINERAL RIGHTS</TITLE>
<DATELINE>    PHOENIX, Ariz, June 18 - </DATELINE><BODY>Pinnacle West Capital Corp said
its Malapai Resources Co units bought the mineral rights for
uranium mining on about 21,000 acres in northern Wyoming from
Westinghouns Electric Corp &lt;WX>.
    The property is adjacent to a 34,000-acre site the company
already owns. Both facilities are at expected to be in full
operation in the early 1990s, with annual production of one to
two mln lbs of uranium concentrates, the company said.
    The new site is expected to produce about 250,000 lbs of
uranium in its first full year of production in 1988. The
adjacent property is expected to begin in 1989.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6625" NEWID="18873">
<DATE>18-JUN-1987 13:45:42.96</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f4125&#31;reute
u f BC-WEST-TEXAS-COTTON-CRO   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST TEXAS COTTON CROP UNSCATHED BY STORM</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>The West Texas cotton crop was largely
unscathed by an isolated thunderstorm in that region last night
that packed hurricane-force winds, crop and weather experts
said.
    "There might have been some isolated storms, but certainly
nothing damaging," said Charles Stichler, an extension
agronomist with the Agricultural Extension Service in far West
Texas.
    Rumors of a damaging storm in West Texas helped the New
York cotton futures market rally sharply this morning.
   Cotton for December delivery was 1.35 cents higher at 70.95
cents a lb at midsession after peaking this morning at 71.25
cents.
    "What happened is that the storm hit Lubbock airport, and
when that happens, everybody sees it," said Dale Mohler, a
senior meteorologist with Accu-Weather Inc.
    Lubbock is the heart of the West Texas cotton region, which
produces about 80 pct of that state's crop.
    The storm produced winds of about 75 mph. "That's hurricane
force. But they were isolated to just a small portion of the
West Texas area, probably less than five pct," Mohler said.
    "No doubt there was some damage. But if it had hit in July
or August (when fruiting would be underway) it would have been
worse," Mohler said.
    About 60 pct of the West Texas cotton crop has been
planted, and the remainder could be done by the weekend if
weather remains hot and dry, Stichler said.
    The temperature in West Texas since mid-week has been about
95 degrees. But a hot spell was sorely needed after far heavier
than normal rainfall for several weeks, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6626" NEWID="18874">
<DATE>18-JUN-1987 13:45:59.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4127&#31;reute
r f BC-MESA-OFFSHORE-TRUST-&lt;   06-18 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>MESA OFFSHORE TRUST &lt;MOS> PAYOUT FALLS SHARPLY</TITLE>
<DATELINE>    HOUSTON, June 18 -
    </DATELINE><BODY>Mthly div 1.2827 cts vs 3.3974 cts prior
    Pay July 31
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6627" NEWID="18875">
<DATE>18-JUN-1987 13:49:32.41</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;f4134&#31;reute
r f BC-ROCHESTER-COMMUNITY-S   06-18 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>ROCHESTER COMMUNITY SAVINGS BANK &lt;RCSB.O> 2ND</TITLE>
<DATELINE>    ROCHESTER, N.Y., June 18 - </DATELINE><BODY>Second quarter ended May 31.
    Shr 27 cts vs NA
    Net 3,560 mln vs 2,389,000
    Six mths
    Shr 57 cts vs NA
    Net 7,881,000 vs 5,415,000
    NOTE: Year-ago per shr figures not available as bank
converted to stock ownership April 29, 1986.
   
    1987 2nd quarter and six mth net excludes 2,288,000 dlrs or
17 cts a share and 4,648,000 dlrs or 33 cts a share,
respectively, for tax carryforwards.
    1986 2nd qtr and six mth net excludes 667,000 dlrs and
3,043,000 dlrs, respectively, for tax carryforwards.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6628" NEWID="18876">
<DATE>18-JUN-1987 13:49:56.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4137&#31;reute
d f BC-LEXITECH-&lt;LEXTC.O>-IN   06-18 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>LEXITECH &lt;LEXTC.O> IN AGREEMENT WITH AFFILIATE</TITLE>
<DATELINE>    OYSTER BAY, N.Y., June 18 - </DATELINE><BODY>Lexitech International
Documentation Network Inc said it has signed an agreement for
Far East affiliate Yamamoto Industries to handle all of
Lexitech's Asian language translation and documentation
requirements.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6629" NEWID="18877">
<DATE>18-JUN-1987 13:50:18.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F 
&#22;&#22;&#1;f4138&#31;reute
u f BC-BANKAMERICA-&lt;BAC>-UNI   06-18 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKAMERICA &lt;BAC> UNIT SELLS CREDIT CARD DEBT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>California Credit Card Trust 1987-B, a
unit of BankAmerica Corp's Bank of America subsidiary, is
offering 300 mln dlrs of certificates backed by credit card
receivables, said lead manager Salomon Brothers Inc.
    The certificates were given an 8.20 pct coupon and were
priced at 99.89 to yield 8.21 pct, or 85 basis points over
comparable Treasuries. The debt has an average life of 1.8
years, matures in 1992, and is rated Aaa by Moody's.
    Bank of America Capital Markets co-managed the deal, which
is the second this year of California Credit Card. In February
it sold 400 mln dlrs of credit card debt via First Boston.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6630" NEWID="18878">
<DATE>18-JUN-1987 13:55:27.97</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;f4144&#31;reute
u f AM-BUDGET-REAGAN   06-18 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE RAPS DEMOCRATS' BUDGET</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The White House called a compromise
budget hammered out by congressional Democratic leaders a
"pickpocket" spending plan, but barred negotiations on changing
it until budget reforms are in place.
    Noting that the trillion dollar budget would raise taxes by
65 billion dlrs over the next three years while scaling back
President Reagan's military spending proposals, spokesman
Marlin Fitzwater said, "The president isn't buying it and
neither will the American people.
    "The Democrats refer to tax increases as deficit reduction
-- a pickpocket way to lift your wallet to pay for your dinner,"
Fitzwater said.
    The White House official, in an apparent retreat from an
earlier administration stance, also said negotiations on a
budget acceptable to Reagan and the Democratic-led Congress
could not begin until budget reforms are adopted.
    The White House has previously said it would not negotiate
on a budget until the congressional Democrats were able to
agree among themselves. Democratic leaders have called for a
"summit" conference with the White House on the budget.
    "If we had a budget reform package that ensured a sound,
enforceable negotiating process, we would be interested in
pursuing it, Fitzwater said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6631" NEWID="18879">
<DATE>18-JUN-1987 13:55:40.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4145&#31;reute
r f BC-&lt;LIFE-GROUP-INC>-EXPA   06-18 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;LIFE GROUP INC> EXPANDING BROKERAGE UNIT</TITLE>
<DATELINE>    GARDEN CITY, N.Y., June 18 - </DATELINE><BODY>Life Group Inc said it is
expanding the activities of its broker/dealer unit Life
Planning Inc to include investment banking, involving both
underwriting and corporate finance.
    The company said Lawrence Zaslow and Joseph Broder have
agreed to join the unit to head those operations and have
purchased Life Group stock and options from Life Group
president David Altschuler.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6632" NEWID="18880">
<DATE>18-JUN-1987 13:56:09.01</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;f4146&#31;reute
r f BC-HOLLINGER-&lt;HLG.TO>-BU   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLLINGER &lt;HLG.TO> BUYS CANADIAN MAGAZINE</TITLE>
<DATELINE>    Toronto, June 18 - </DATELINE><BODY>Hollinger Inc said it purchased Saturday
Night, a Canadian general-interest magazine.
    Financial terms were not disclosed, but Hollinger said it
has no immediate plans for changes in senior editorial
personnel.
    Saturday Night, which publishes features and analyses of
current events, is celebrating its 100th anniversary and has a
circulation of about 120,000, according to a magazine
spokesman.
    Hollinger, which owns 58 pct of &lt;Daily Telegraph PLC>, also
today completed the acquisition of Unimedia Inc, a Quebec-based
publisher.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6633" NEWID="18881">
<DATE>18-JUN-1987 13:56:28.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4148&#31;reute
r f BC-TRITON-GROUP-&lt;TRRO.O>   06-18 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>TRITON GROUP &lt;TRRO.O> PRESIDENT RESIGNS</TITLE>
<DATELINE>    LA JOLLA, Calif., June 18 - </DATELINE><BODY>Triton Group Ltd said John
Stiska has resigned as its president. He will be replaced by
Triton Chairman Charles Scott.
    Stiska will return to private law practice and will
continue to serve as special counsel to Triton and to Intermark
Inc &lt;IMI>.
    Intermark, which owns 41 pct of Triton's common stock, took
a controlling interest in the company in March, 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6634" NEWID="18882">
<DATE>18-JUN-1987 13:57:29.18</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;f4149&#31;reute
r f BC-PENNWALT-&lt;PSM>-TO-MAK   06-18 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>PENNWALT &lt;PSM> TO MAKE ACQUISITION</TITLE>
<DATELINE>    PHILADELPHIA, June 18 - </DATELINE><BODY>Pennwalt corp said it has agreed in
principle to acquire a line of fungicides, insecticides and
herbicidesand related manufacturing facilities from Le
Raffineries de Soufre Reunies of Marseilles for undisclosed
terms, subject to approval by bothe boards and government
authorities.
    The company said the acquired products are sold mostly in
FRance for use on grapevines, wheat and sugar beets and sales
are about 40 mln dlrs annually.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6635" NEWID="18883">
<DATE>18-JUN-1987 13:59:49.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4154&#31;reute
d f BC-BELGIUM-PLANS-MAJOR-T   06-18 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIUM PLANS MAJOR TELECOMMUNICATIONS ORDER</TITLE>
<DATELINE>    BRUSSELS, June 18 - </DATELINE><BODY>Belgium is to start negotiations with
three consortia on sharing out a major order for modernising
the country's telecommunications network, a government
spokesman said.
    The three consortia are Bell Telephone Manufacturing Co NV,
a subsidiary of ITT Corp &lt;ITT>, together with Acec SA
&lt;ACEC.BR>; Siemens AG &lt;SIEG.F> and ATEA SA, a subsidiary of GTE
Corp &lt;GTE>; and NV Philips Gloeilampenfabrieken &lt;PGLO.AS> with
American Telephone and Telegraph Co &lt;T>.

    The deal is estimated to be worth around 50 billion francs,
although a government spokeswoman declined to confirm this. The
order covers new telephone exchanges, cables and terminals.
    The go-ahead for the talks followed an outline agreement
within the centre-right government coalition today. The accord
came after months of discussions that have been complicated by
demands for the order to be shared out fairly between the
French and Dutch speaking parts of Belgium.
    Government officials declined to give details of the
outline agreement or how the order will be divided between the
three consortia.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6636" NEWID="18884">
<DATE>18-JUN-1987 14:00:07.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f4155&#31;reute
r f BC-TOTAL-UNIT-RELOCATING   06-18 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>TOTAL UNIT RELOCATING TO HOUSTON FROM DENVER</TITLE>
<DATELINE>    HOUSTON, June 18 - </DATELINE><BODY>Total Energy Resources Inc, a wholly
owned bysdisiary of French national energy company TOTAL
Compagne Francaise des Petroles, said it will relocate its
offices to Houston from Denver as part of TOTAL's plan to
expand U.S. operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6637" NEWID="18885">
<DATE>18-JUN-1987 14:00:34.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f4158&#31;reute
u f BC-WORLD-BANK-LOANS-PAKI   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK LOANS PAKISTAN 220 MLN DLRS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The World Bank said it has extended
Pakistan 220 mln dlrs in three loans to support projects in
education, energy conservation and modernization, and
small-scale industry development.
    The education project will be supported by a 145 mln dlr
loan through the International Development Association, the
bank's concessionary lending affiliate, the bank said.
    The bank noted Pakistan's low educational attainment,
particularly among women, is an obstacle to the country's
development.
    It said the education project aims to increase literacy and
school enrollment rates through curriculum reform, teacher
training, parental participation and school construction.
    A small-scale industry development project will be
supported by a 54 mln dlr loan, the bank said.
    The project hopes to aid small-scale industry by
encouraging bank lending, developing export markets, and
supporting technology transfer, the bank said.
    The third project, to improve refinery efficiency, reduce
energy consumption and increase crude oil processing capacity,
will be supported by a 21 mln dlr loan.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6638" NEWID="18886">
<DATE>18-JUN-1987 14:01:41.96</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;f4163&#31;reute
r f BC-FORD-&lt;F>-UNIT-SELLS-T   06-18 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> UNIT SELLS THREE-YEAR NOTES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Ford Motor Credit Co, a unit of Ford
Motor Co, is raising 150 mln dlrs through an offering of notes
due 1990 yielding 8.275 pct, said sole manager Bear, Stearns
and Co.
    The notes have an 8-1/4 pct coupon and were priced at
99.931 to yield 62.5 basis points more than comparable Treasury
securities.
    Non-callable to maturity, the issue is rated Aa-2 by
Moody's and AA-minus by Standard and Poor's. The gross spread
is 3.50 dlrs, the selling concession is two dlrs and the
reallowance is 1.25 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6639" NEWID="18887">
<DATE>18-JUN-1987 14:02:29.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>jordan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f4167&#31;reute
r f BC-JORDAN-GETS-96.4-MLN   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>JORDAN GETS 96.4 MLN DLRS IN WORLD BANK LOANS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Jordan will receive two loans
totalling 96.4 mln dlrs to support projects aimed at increasing
that country's electrical production and improving housing in
slum and squatter areas, the World Bank said.
    The bank said it is making a 70 mln dlr loan to help fund a
257.8 mln dlr project designed to meet its future power needs.
    It said the other loan is 26.4 mln dlrs in support of
project to provide affordable housing, urban infrastructure and
social services to low-income families in slum and squatter
areas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6640" NEWID="18888">
<DATE>18-JUN-1987 14:04:01.18</DATE>
<TOPICS><D>platinum</D></TOPICS>
<PLACES><D>south-africa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f4173&#31;reute
d f BC-S.-AFRICAN-UNION-OBJE   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>S. AFRICAN UNION OBJECTS TO PLANNED MATTHEY MOVE</TITLE>
<DATELINE>    JOHANNESBURG, June 18 - </DATELINE><BODY>A South African trade union is in
dispute with a subsidiary of Britain's Johnson Matthey Plc over
the company's proposal to move a platinum refinery near
Johannesburg to a black tribal homeland.
    The 30,000-member mainly black Chemical Workers Industrial
Union said it fears the planned move to the Bophuthatswana
homeland, where South African unions are not recognised, could
lead to job losses and affect wages.
    A mass dismissal last year at the Impala Platinum Holdings
Ltd &lt;IPLA.J> mines in the tribal homeland sent world platinum
prices rocketing.

    The union said talks with management over the proposed move
had broken down. It said an earlier ballot of refinery workers
showed that most favoured striking over the move but added that
no final decision had been taken on strike action.
    The refinery processes all platinum metals of Rustenburg
Platinum Holdings Ltd, the world's largest platinum producer.
    It is owned by Matthey Rustenburg Ltd, a joint-subsidiary
of Johnson Matthey and Rustenburg which, in turn, is owned by
mining group Johannesburg Consolidated Investment Co Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6641" NEWID="18889">
<DATE>18-JUN-1987 14:04:21.07</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E V RM 
&#22;&#22;&#1;f4174&#31;reute
f f BC-CANADA-91-DAY-T   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADA 91-DAY T-BILLS AVERAGE 8.34 PCT, MAKING BANK RATE
8.59 PCT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6642" NEWID="18890">
<DATE>18-JUN-1987 14:07:31.46</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f4178&#31;reute
f f BC-reynolds-metals   06-18 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REYNOLDS METALS TO RESTART LAST IDLE
U.S. ALUMINUM POTLINE
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6731" NEWID="18891">
<DATE>18-JUN-1987 14:09:38.23</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;f4182&#31;reute
r f BC-gulfcan   06-18 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF CANADA &lt;GOC> IN DEAL WITH BONDHOLDERS</TITLE>
<DATELINE>    TORONTO, June 18 - </DATELINE><BODY>A compromise reached between Gulf Canada
Corp and debenture holders at the annual meeting today will
cost the company or its major shareholder "a couple of million"
dollars, chairman Marshall Cohen said.
    After about a half-hour discussion with debenture holders
during the meeting, Cohen and Gulf lawyers agreed to compensate
them for about six months of interest that they would have lost
under a corporate reorganization plan taking effect July one.
The holders then withdrew a proposed amendment that sought to
delay the plan's closing to July 16 so they could collect
interest due to be paid July 15.
    "We have not sorted out the mechanics of how we're going to
do this," Cohen told reporters later.
    "It may well be that in the end the principal shareholder
may absorb that interest," he said, referring to the Reichmann
family's Olympia and York Developments Ltd, which owns about 79
pct of Gulf Canada.                                     Cohen
said he wanted to ensure that Gulf Canada need not revise
reorganization proposals already on file with Revenue Canada
and the U.S. Securities and Exchange Commission.
    "If Gulf can't pay it (the interest) without upsetting the
applecart, Olympia and York will pay," he said.
    The reorganization will see Gulf Canada Corp renamed Gulf
Canada Resources Ltd. Shareholders will be offered shares of
three separate publicly traded companies, Gulf Canada
Resources, Abitibi-Price Inc &lt;A.TO> and GW Utilities Ltd.
    Newly formed GW Utilities will hold Gulf Canada's interests
in Consumers' Gas Co Ltd &lt;CGT.TO>, Hiram Walker-Gooderham and
Worts Ltd and Interprovincial Pipe Line Ltd &lt;IPL.TO>.
    Cohen said Olympia and York's interest in Gulf Canada
Resources will slip to about 68 or 69 pct as a result of a
previously announced plan to sell 450 mln dlrs of new stock.
                             
    In answer to a reporter's question, Cohen said there was a
possibility that the size of the offering could be increased.
    "There seems to be pretty strong interest," he said, but he
added that much depended upon market conditions at the time of
pricing. The issue will be priced later this month, according
to a company official.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6732" NEWID="18892">
<DATE>18-JUN-1987 14:10:43.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4186&#31;reute
r f BC-CALTON-INC-&lt;CN>-TO-BU   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CALTON INC &lt;CN> TO BUILD THREE COMMUNITIES</TITLE>
<DATELINE>    CLIFTON, N.J., June 18 - </DATELINE><BODY>Calton Inc said it will begin
building a 242-home community in the Newtown area of Bucks
County in Northampton Township, Pa, sometime between late July
and early August.
    Calton said the community will be named "The Homes of
Tapestry at Northampton" and will be located near Newtown, Pa.
Calton said it will build two- and three-bedroom townhomes,
garden-style condominiums and duplex condominiums.
    The company also said it is negotiating the rights to build
two other communities in the state, near the New Jersey border.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6733" NEWID="18893">
<DATE>18-JUN-1987 14:11:34.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F 
&#22;&#22;&#1;f4191&#31;reute
u f BC-&lt;AGF-MANAGEMENT-LTD>   06-18 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;AGF MANAGEMENT LTD> RAISES DIVIDEND</TITLE>
<DATELINE>    Toronto, June 18 -
    </DATELINE><BODY>Qtly dividend nine cts vs eight cts
    Pay July six
    Record June 29
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6646" NEWID="18894">
<DATE>18-JUN-1987 14:11:59.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4193&#31;reute
r f BC-NATIONAL-COMMERCE-&lt;NC   06-18 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL COMMERCE &lt;NCBC.O> IN KROGER &lt;KR> DEAL</TITLE>
<DATELINE>    MEMPHIS, Tenn., June 18 - </DATELINE><BODY>National Commerce Bancorp said it
has agreed to operate or sublicense branch bank facilities in
supermarkets in Florida and Virginia Kroger Co supermarkets.
    It said initially 20 locations will be available in Florida
and 10 in Virginia.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6735" NEWID="18895">
<DATE>18-JUN-1987 14:12:11.99</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;f4195&#31;reute
r f BC-LEADER-DEVELOPMENT-&lt;L   06-18 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>LEADER DEVELOPMENT &lt;LDCO.O> MERGER APPROVED</TITLE>
<DATELINE>    COLUMBUS, Ohio, June 18 - </DATELINE><BODY>Leader Development Corp said
shareholders at the annual meeting approved the acquisition of
privately-held Clinton American Corp and two related
partnerships for 3,450,000 common shares, with the transaction
to be accounted for as a pooling of interests.
    The company said Clinton president F. Daniel Ryan will
become president of Leader.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6736" NEWID="18896">
<DATE>18-JUN-1987 14:12:34.84</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f4196&#31;reute
d f BC-CHEYENNE-&lt;CHYN.O>-BUY   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEYENNE &lt;CHYN.O> BUYS INTERESTS IN PROPERTIES</TITLE>
<DATELINE>    CHEYENNE, Wyo, June 18 - </DATELINE><BODY>Cheyenne Resources Inc said it
purchased interests in four producing oil and gas properties
for 2,240,000 shares of the company's restricted stock.
    The largest interest was 25 pct of an oil and gas well in
Weld County, Colo, the company said. Cheyenne said it had five
pct or less interest in the three other properties.
    Cheyenne said it should realized 10,000 dlrs net income
monthly at the properties' current production levels.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6649" NEWID="18897">
<DATE>18-JUN-1987 14:13:03.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4197&#31;reute
s f BC-GENERAL-SIGNAL-CORP-&lt;   06-18 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL SIGNAL CORP &lt;GSX> SETS DIVIDEND</TITLE>
<DATELINE>    STAMFORD, Conn., June 18 -
    </DATELINE><BODY>Qtly div 45 cts vs 45 cts prior
    Pay Oct 1
    Record Sept 4
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6738" NEWID="18898">
<DATE>18-JUN-1987 14:13:37.54</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;f4199&#31;reute
h f BC-CRANE-&lt;CR>-ACQUIRES-A   06-18 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>CRANE &lt;CR> ACQUIRES ASSETS OF MARLEY UNIT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Crane Co said it acquired certain
assets of Chicago Heater Co Inc, a wholly owned subsidiary of
the &lt;Marley Co>.
    The terms of the transaction were not disclosed.
    Chicago Heater will be intergrated with Crane's Cochrane
Environment Systems division, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6651" NEWID="18899">
<DATE>18-JUN-1987 14:14:34.47</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>uk</D><D>south-korea</D><D>west-germany</D><D>poland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f4202&#31;reute
u f BC-EC-UPS-SIZE-OF-SPECIA   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>EC INCREASES SPECIAL FEED WHEAT TENDERS - TRADE</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>The European Community (EC) has increased
the size of two special export tenders for British and West
German feed wheat held in intervention stores and included
South Korea as an acceptable destination, traders said.
    The tender was originally for 120,000 tonnes of British and
120,000 tonnes of West German feed wheat for shipment only to
Poland.
    But now both tranches have been increased by 50,000 tonnes
to 170,000 tonnes with South Korea added as a possible
destination. Both tenders are open from June 24.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6739" NEWID="18900">
<DATE>18-JUN-1987 14:15:26.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>cyprus</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f4205&#31;reute
r f BC-CYPRUS-REVOKES-OFFSHO   06-18 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>CYPRUS REVOKES OFFSHORE COMPANY LICENCE</TITLE>
<DATELINE>    NICOSIA, June 18 - </DATELINE><BODY>The Supreme Court of Cyprus has rejected
a plea by an offshore securities trading company against a
Central Bank decision to revoke its licence.
    Central Bank officer Eleftherios Ioannou told Reuters that
the court had dismissed the appeal by York International
(Cyprus) Ltd, registered as an offshore company last October.
    The Bank in February withdrew York's licence and froze its
bank account while it investigated sales of some eight mln dlrs
worth of securites by telephone to 3,000 small investors
abroad.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6740" NEWID="18901">
<DATE>18-JUN-1987 14:15:39.05</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;f4206&#31;reute
r f BC-COLGATE-PALMOLIVE-&lt;CL   06-18 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>COLGATE-PALMOLIVE &lt;CL> PLANS TO FILE DEBT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Colgate-Palmolive Co said it plans to
file with the Securities and Exchange Commission a shelf
registration covering up to 300 mln dlrs of unsecured debt
securities.
    Reuben Mark, chairman and president of the company, told
this to a meeting of the New York Society of Security Analysts,
Colgate-Palmolive said in a release.
    Proceeds will be used for general corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6741" NEWID="18902">
<DATE>18-JUN-1987 14:15:56.30</DATE>
<TOPICS><D>fuel</D></TOPICS>
<PLACES><D>tanzania</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y 
&#22;&#22;&#1;f4207&#31;reute
u f BC-TANZANIA-RAISES-FUEL   06-18 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>TANZANIA RAISES FUEL PRICES, TAXES IN BUDGET</TITLE>
<DATELINE>    DAR ES SALAAM, June 18 - </DATELINE><BODY>The Tanzanian government, in its
second annual budget since embarking on an economic recovery
program inspired by the International Monetary Fund, announced
increases in fuel prices and sales tax and higher levies on
government services.
    Finance Minister Cleopa Msuya said regular petrol would go
up 52 pct, with similar increases in the cost of premium and
kerosene. Diesel would rise by 75 pct.
    Msuya said the government expected to spend 77.33 billion
shillings in the financial year 1987/8, 39 pct more than this
year's estimate. Revenue would provide 48.84 billion shillings,
leaving a deficit of 28.49 billion to be financed through
domestic and foreign loans.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6742" NEWID="18903">
<DATE>18-JUN-1987 14:18:36.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4212&#31;reute
d f BC-GE-&lt;GE>-SIGNS-CONTRAC   06-18 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GE &lt;GE> SIGNS CONTRACT ON SMALL POWER PLANT</TITLE>
<DATELINE>    SCHENECTADY, N.Y., June 18 - </DATELINE><BODY>General Electric said it
signed a 21 mln contract to build a 12.5 megawatt power plant,
fueled by agricultural waste, for El Nido Biomass Power Plant
Associates.
    GE said Pacific Gas and Electric Co will purchase the net
electric output of the El Nido, Calif. plant, which is
scheduled for completion in mid-1989.
    GE said the fuel system will be capable of firing up to six
different types of agricultural waste, and will primarily burn
almond prunings, cotton stalks and rice straw, as well as other
well as otehr alternate agricultural waste.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6743" NEWID="18904">
<DATE>18-JUN-1987 14:19:11.50</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E V RM 
&#22;&#22;&#1;f4213&#31;reute
b f BC-CANADA-BANK-RATE-RISE   06-18 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA BANK RATE RISES TO 8.59 PCT</TITLE>
<DATELINE>    OTTAWA, June 18 - </DATELINE><BODY>Canada's bank rate rose marginally to
8.59 pct from 8.58 pct last week, Bank of Canada said.
    The bank rate is set one-quarter percentage point above the
average yield on the weekly issue of 91-day treasury bills.
This week's yield was 8.34 pct, compared with the previous
week's 8.33 pct.
    Tenders were accepted for 2.20 billion dlrs of 91-day bills
at an average price of 97.963 dlrs against 97.965 dlrs last
week.
    The 1.20 billion dlrs of 182-day bills were priced at an
average 95.852 dlrs against 95.779 dlrs last week, to yield an
average 8.68 pct against 8.84 pct last week.
    The 500 mln dlrs of 364-day bills were priced at an average
91.712 dlrs against 91.529 dlrs last week, to yield an average
9.06 pct against 9.28 pct last week.
    Tenders will be received next week for 2.20 billion dlrs of
91-day bills, 1.20 billion dlrs of 182-day bills and 500 mln
dlrs of 364-day bills.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6656" NEWID="18905">
<DATE>18-JUN-1987 14:19:32.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4215&#31;reute
r f BC-NORTH-AMERICAN-&lt;NBIO.   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN &lt;NBIO.O> GETS FINANCING</TITLE>
<DATELINE>    MIAMI, June 18 - </DATELINE><BODY>North American Biologicals Inc said it has
received a 10 mln dlr credit facility from Manufacturers and
Traders Trust Co of Buffalo, N.Y.
    It said the new credit would replace an existing 4.4 mln
dlr line with Barclays PLC &lt;BCS.L>, and due to more favorable
interest rates, borrowing costs should be significantly
reduced.
    The company said half of the credit is designated for use
in acquisitions.  It said it expects to conclude an
acquisition, possibly outside its plasma and serum field, by
year-end.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6657" NEWID="18906">
<DATE>18-JUN-1987 14:19:43.68</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f4216&#31;reute
r f BC-PENGO-&lt;PGO>-TO-SELL-S   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>PENGO &lt;PGO> TO SELL SOME WIRELINE OPERATIONS</TITLE>
<DATELINE>    FORT WORTH, Texas, June 18 - </DATELINE><BODY>Pengo Industries Inc said it
has agreed to sell its Wireline Products Manufacturing Division
in Fort Worth, Texas, Wireline Services Division operations in
several locations and Pengo International Inc subsidiary to
John Wood Group PLC for undisclosed terms.
    The company said the Wireline Services operations being
sold are in Lafayette, Houma and Harvey, La., Alvin, Odessa and
Longview, Texas, and Moore, Okla.
    Pengo said its Kuykenball Slickline operation in Moore and
surplus wireline equipment operations in fort Worth and
Cleburne, Texas, will be sold separately.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6658" NEWID="18907">
<DATE>18-JUN-1987 14:21:00.05</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM 
&#22;&#22;&#1;f4219&#31;reute
f f BC-MOODY'S-UPGRADE   06-18 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S UPGRADES OHIO EDISON'S 2.7 BILLION DLRS OF DEBT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6747" NEWID="18908">
<DATE>18-JUN-1987 14:21:47.26</DATE>
<TOPICS><D>grain</D><D>barley</D><D>wheat</D></TOPICS>
<PLACES><D>france</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;f4220&#31;reute
u f BC-EC-REJECTS-LICENCES-F   06-18 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>EC REJECTS LICENCES FOR SPANISH BARLEY</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>The EC Commission cereals management
committee rejected all bids for licences to export free market
Spanish barley to non-EC countries, trade sources said.
    The licence requests were for 35,000 tonnes at between 143
and 145 European Currency Units (ECUs), they said.
    This tender was part of a special tender for 500,000 tonnes
of Spanish barley.
    The sources said there had been no bids for licences for
free market soft wheat and non-Spanish barley exports to non-EC
countries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6748" NEWID="18909">
<DATE>18-JUN-1987 14:25:14.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>greenspan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f4223&#31;reute
u f BC-PROXMIRE-SAYS-NO-DATE   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>PROXMIRE SAYS NO DATE SET FOR GREENSPAN HEARING</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Senate Banking committee chairman
William Proxmire, D-Wis, said no date had been set for Alan
Greenspan's confirmation hearing as Federal Reserve chairman
because the White House had not formally sent his nomination to
the Senate.
    Proxmire said in an interview that as soon as the White
House completed its clearence procedures and sent Greenspan's
name to the Senate, he would schedule a hearing on the
replacement for Paul Volcker. The committee and the full Senate
must confirm Greenspan.
    Volcker's term expires in August.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6749" NEWID="18910">
<DATE>18-JUN-1987 14:26:14.82</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;f4227&#31;reute
d f BC-MAGIC-YEARS-&lt;KIDS.O>   06-18 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>MAGIC YEARS &lt;KIDS.O> TO ACQUIRE THREE CENTERS</TITLE>
<DATELINE>    WILKES-BARRES, Pa., June 18 - </DATELINE><BODY>Magic Years Child Care and
Learning Centers Inc said it signed a letter of intent to
acquire three profitable day care centers in south central
Pennsylvania for a total price of 350,000 dlrs.
    The three privately owned centers had aggregate revenues of
474,000 dlrs in 1986, with profits of six thousand dlrs, the
company said.
    The transaction is scheduled to close in early July, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6750" NEWID="18911">
<DATE>18-JUN-1987 14:27:09.25</DATE>
<TOPICS><D>gnp</D><D>income</D><D>housing</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f4228&#31;reute
d f BC-BANK-OF-AMERICA-SEES   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF AMERICA SEES SLOW U.S. CONSUMER SPENDING</TITLE>
<DATELINE>    SAN FRANCISCO, June 18 - </DATELINE><BODY>A trade-led boom in the U.S. is
unlikely this year or next because growth in net exports will
merely offset a dramatic slowdown in consumer spending and
other sectors of the economy, Bank of America said in its
latest economic report.
    Although net exports will add 0.7 pct to GNP this year,
after reducing it by 1.2 pct in 1986, consumer spending will
contribute 1.4 pct less to GNP than it did last year.
    As a result, GNP this year is likely to expand a modest 2.5
pct, the same rate as last year, according to Daniel Van Dyke,
the Bank of America economist who wrote the report.
    "Growth in consumer spending in the United States will drop
dramatically this year because the jump in inflation will cause
a falloff in the growth of disposable income," Van Dyke said.
    Growth in U.S. consumer spending is likely to slow to 1.8
pct this year from 4.1 pct in 1986, he predicted.
    The report was released before the Commerce Department
reported today that personal income rose just 0.2 pct in May,
after increasing 0.4 pct in April, and that personal
consumption expenditures had risen just 0.1 pct, compared with
a 0.6 pct increase the month before.
    The rising cost of energy and imports is likely to boost
consumer prices by an average of 3.7 pct this year, up from 1.9
pct in 1986, Bank of America forecast.
    This rise in inflation will reduce real disposable income 
growth to only 1.3 pct in 1987 from 2.9 pct in 1986.
    As a result, Van Dyke calculated that the purchasing power
of an average family of four will increase by a modest 540 dlrs
this year compared to a surge of 1,210 dlrs during 1986.
    The slowdown in income growth is likely to cause housing
starts to drop by 4.2 pct this year and a further six pct in
1988 to an annual rate of 1.63 mln units.
    "For the first time in several years, a recession in 1988
or 1989 is more than a remote possibility," Van Dyke said.
    Currently, U.S. growth is fragile and depends heavily on an
improvement in trade. "However, with protectionist attitudes on
the rise in this country, this source of growth is at risk," he
added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6663" NEWID="18912">
<DATE>18-JUN-1987 14:27:37.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4231&#31;reute
d f BC-HADRON-&lt;HDRN.O>-GETS   06-18 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>HADRON &lt;HDRN.O> GETS MARTIN MARIETTA &lt;ML> PACT</TITLE>
<DATELINE>    FAIRFAX, Va., June 18 - </DATELINE><BODY>Hadron Inc said it has received a
two mln dlr two-year contract from Martin Marietta Corp for
information and logistical support services to be provided for
the U.S. Navy's electronic warfare programs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6752" NEWID="18913">
<DATE>18-JUN-1987 14:28:52.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4234&#31;reute
r f BC-EVEREX-SYSTEMS-FILES   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>EVEREX SYSTEMS FILES INITIAL PUBLIC OFFER</TITLE>
<DATELINE>    FREMONT, Calif., June 18 - </DATELINE><BODY>Everex Systems Inc said it has
filed with the Securities and Exchange Commission to make an
initial public offering of 5,950,000 shares of its common
stock.
    Of the shares to be sold, 4,950,000 wil be offered in the
U.S., of which three mln will be issued and sold by the company
and the balance will be sold by certain shareholders.
    In addition, one mln shares will be sold outside the U.S.
    An underwriting group co-managed by Goldman Sachs and Co
and Shearson Lehman Brothers Inc will offer the shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6753" NEWID="18914">
<DATE>18-JUN-1987 14:29:56.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4237&#31;reute
r f BC-WORLD-BANK-LOANS-PORT   06-18 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK LOANS PORTUGAL 50 MLN DLRS</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>World Bank said it has loaned
Portugal 50 mln dlrs to help improve its highway system.
    The bank loan is part of a 400.4 mln dlr, three-year
government financed project to rehabilitate or improve about
3410 miles of highway, the bank said.
    It also said the project hopes to increase road safety by
improving signs, aiding enforcement of axle-load legislation,
and adding patrol cars and communications equipment.
    The loan is for 15 years, including three years of grace,
at the standard variable interest rate, currently 7.92 pct, the
bank said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6666" NEWID="18915">
<DATE>18-JUN-1987 14:30:29.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>ussr</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f4239&#31;reute
d f BC-SOVIET-AGRICULTURE-MI   06-18 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET AGRICULTURE MINISTER IN WINNIPEG VISIT</TITLE>
<DATELINE>    WINNIPEG, June 18 - </DATELINE><BODY>Vsevolod Murakhovsky, head of the
Soviet Agriculture Ministry, observed trading this morning at
the Winnipeg Commodity Exchange, an exchange spokesman said.
    Murakhovsky led a delegation of 17 Soviet visitors to the
exchange as part of a current cross-Canada tour. The party
included Phylipp Popov, a member of the Supreme Soviet.
    Murakhovsky is first deputy chairman of the Council of
Ministers of the USSR and chairman of the Gosagroprom or
Ministry of Agriculture.
    The delegation was accompanied by Harold Bjarnason,
assistant deputy minister, Agriculture Canada.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6667" NEWID="18916">
<DATE>18-JUN-1987 14:30:37.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4241&#31;reute
d f BC-OPTO-MECHANIK-&lt;OPTO.O   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>OPTO MECHANIK &lt;OPTO.O> GETS 7.2 MLN IN CONTRACTS</TITLE>
<DATELINE>    MELBOURNE, Fla., June 18 - </DATELINE><BODY>Opto Mechanik Inc, a designer
and manufacturer of military optical and electro-optical
systems, said it received 7.2 mln in contracts from domestic
and foreign customers.
    Opto Mechanik said the series of contracts included a 3.8
mln dlr contract from the U.S. Army Missle Command to produce
the sight used to guide the TOW anti-tank missle.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6668" NEWID="18917">
<DATE>18-JUN-1987 14:34:45.58</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y 
&#22;&#22;&#1;f4255&#31;reute
r f BC-BROOKLYN-UNION&lt;BU>-SE   06-18 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>BROOKLYN UNION&lt;BU> SEEN HURT BY PIPELINE CLOSURE</TITLE>
<AUTHOR>    By NAILENE CHOU WIEST, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Brooklyn Union Gas Co, a New York gas
utility, will see its gas costs up sharply as a result of
Transco Energy Co's &lt;E> decision to close its pipelines to
transport spot gas sales, energy industry analysts said.
    Brooklyn Union, the fourth largest gas utility in the
United States, purchased 36 pct of its supplies on the spot, or
non-contract, market in 1986, and the proportion of spot
supplies was estimated much higher in the five months of 1987,
analysts said.
    Texas Eastern pipelines &lt;TET>, the other competing
pipeline, to deliver spot gas from producing areas in the South
closed its gate station for summer, and Brooklyn Union has
relied entirely on Transco for spot supplies.
     In the month of May, Brooklyn Union paid about two dlrs
per mln British Thermal Unit for spot gas, while contract gas
costs four to five dlrs per mln BTU, industry sources said.
    Transco announced yesterday it would no longer provide open
access to transport spot natural gas to its customers for fear
of accumulating more take-or-pay liabilities.
    Take-or-pay contracts oblige pipelines to pay producers for
gas even if delivery is not taken by its customers.
    Brooklyn Union will continue receiving a small amount of
supplies from minor fields under a grandfather clause, a
Brooklyn Union official said.
    Foster Corwith, gas analyst with Dean Witter Reynolds, said
most of the rising cost to Booklyn Union will be passed through
to rate payers.
    While net effect on the company will not be known for
several months because of the time lag in deferred earnings,
end-users, especially residential and commercial customers,
will end up paying more for gas, he said.
    Because the closure takes place in summer months when gas
demand is at seasonal low, the impact on cash flow would be
small, Curt Launer, natural gas analyst with Donaldson Lufkin
Jenrette, said.
    If the situation persists into winter heating season, high
cost gas could cut in the company's profits, he said.
    Gas utilities along eastern seaboard relying on Transco for
spot gas, such as North Carolina Natural Gas Co &lt;NCNG>,
Piedmont Natural Gas Co &lt;PNY>, will face the same high cost
factor as Brooklyn Union, Steve Richards, a supply manager with
end users supply system, a Houston based natural gas brokering
firm, said.
    "But these companies are not unwitting victims of the
take-or-pay dispute between Transco and producers," he said.
    Distributors have turned a deaf ear to Transco's request
for an inventory charge, which reserves the pipeline facility
for spot gas to be delivered to these companies, he said.
    Without spot supplies, the high cost of system gas will
threaten to drive away large customers capable of shifting to
alternative fuels, he said.
    In absence of any guidelines on inventory charges from the
Federal Energy Regulatory Commission, the matter is being
negotiated between pipelines and customers, Richards said.
    Now that Transco has refused to transport cheap spot gas
for them, these distributors are likely to be more conciliatory
on the inventory charge, he said.
    "Cool heads will prevail," DLJ's Launer said, " but it may
take a while."
       
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6669" NEWID="18918">
<DATE>18-JUN-1987 14:35:40.38</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;f4261&#31;reute
b f BC-OHIO-EDISON-&lt;OEC>-UPG   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>OHIO EDISON &lt;OEC> UPGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
upgraded Ohio Edison Co's 2.7 billion dlrs of debt securities.
    Raised to Baa-2 from Baa-3 were the utility's first
mortgage bonds, preferred stock and secured pollution control
issues, and the guaranteed Euronotes of Ohio Edison Finance NV.
Moody's upgraded Ohio Edison's unsecured issues and preference
stock to Baa-3 from Ba-1.
    The likely approval of a 152 mln dlr, or 10 pct, rate hike
by Ohio Public Utilities Commission significantly reduces a key
component of financial risk. It would be implemented on Perry
Unit One's expected Fall in-service date, Moody's said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6670" NEWID="18919">
<DATE>18-JUN-1987 14:35:49.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4263&#31;reute
u f BC-BIC-CORP-&lt;BIC>-RAISES   06-18 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>BIC CORP &lt;BIC> RAISES QUARTERLY</TITLE>
<DATELINE>    MILFORD, Conn., June 18 -
    </DATELINE><BODY>Qtly div 18 cts vs 15 cts prior
    Pay July 30
    Record July 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6671" NEWID="18920">
<DATE>18-JUN-1987 14:36:29.33</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4267&#31;reute
u f BC-REYNOLDS-METALS-&lt;RLM>   06-18 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>REYNOLDS METALS &lt;RLM> TO RESTART IDLE POTLINE</TITLE>
<DATELINE>    RICHMOND, Va., June 18 - </DATELINE><BODY>Reynolds Metals co said it plans
to restart the last idle potuction line at its Troutdale, Ore.,
primary aluminum plant.
    With the restart of this 22,700-metric-tonne-per-year line,
Reynolds said, it will be operating at 100 pct of its
consolidated primary aluminum capacity of 695,000 tonnes per
year.
    Reynolds said work will commence on the potline restart in
the near future and it is expected that actual metal production
will begin on September one.
    The company said the start up was necessitated by
continuing strong demand for aluminum and dwindling worldwide
inventories, and that the metal is needed to supply Reynolds'
various fabricating businesses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6760" NEWID="18921">
<DATE>18-JUN-1987 14:36:38.12</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4268&#31;reute
d f BC-CBC-BANCORP-TO-BE-ACQ   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CBC BANCORP TO BE ACQUIRED BY UNION PLANTERS</TITLE>
<DATELINE>    COOKEVILLE, Tenn., June 18 - </DATELINE><BODY>&lt;CBC Bancorp Inc> said it will
be acquired by the Memphis-based Union Planters Corp &lt;UPCM.O>
in a merger agreement.
    Details were not disclosed.
    CBC, which is the holding company which owns Cookeville's
Citizens Bank, said it has signed an agreement which would
merge CBC with Union, which has 2.2 billion dlrs in assets.
    According to CBC, Union reported shareholders equity of
nearly 190 mln dlrs for the period ending March 31.
    CBC said the merger will not affect Citizens Banks' name,
management, board of directors or employees.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6673" NEWID="18922">
<DATE>18-JUN-1987 14:37:00.41</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;f4271&#31;reute
d f BC-TIE/COMMUNICATIONS-&lt;T   06-18 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>TIE/COMMUNICATIONS &lt;TIE> RENEWS AGREEMENTS</TITLE>
<DATELINE>    SHELTON, Conn., June 18 - </DATELINE><BODY>TIE/Communications Inc said it
has renewed agreements to sell its GTE Corp &lt;GTE>, Bell
Atlantic Corp &lt;BEL>, NYNEX Corp &lt;NYN> and US West Inc &lt;USW> for
two years.
    The company is providing small to mid-siezed key telephone
systems to GTE and key systems, hybrids and DATA STAR PABX
systems to the others.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6762" NEWID="18923">
<DATE>18-JUN-1987 14:39:00.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4276&#31;reute
u f BC-GLAXO-&lt;GLX>-STOCK-OFF   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>GLAXO &lt;GLX> STOCK OFF ON ULCER REPORT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Shares of Glaxo Holdings PLC fell
following a report in today's New England Journal of Medicine
that antibiotics may be able to treat ulcers, threatening 
Glaxo's billion dlr antiulcer drug Zantac, analysts said.
    Glaxo's was trading at 27-7/8, off 1/2, on volume of
1,786,800 shares. Shares of SmithKline Beckman &lt;SKB>, maker of
the popular anti-ulcer drug Tagamet, also fell 7/8 to 60-1/4.
    "Anything that raises the possiblity of an entirely new
therapy for ulcers would attack the core of Glaxo's worldwide
business, which is Zantac," said David MacCallum, an analyst
who follows Glaxo for Hambrecht and Quist.
   
    Zantac is the world's most prescribed drug with annual
sales of over one billion dollars, accounting for almost 75 pct
of Glaxo's earnings, said MacCallum.
    "If there is any perception that Zantac is not the therapy
of choice for ulcers, Glaxo's sales and profits could decline,"
said Tina Rizopuolos, an analyst with Alexanders Laing and
Or'kshnk.
    Rizopuolos said the New England Journal article, led by a
University of Toronto researcher, concludes from a study of 71
children with gastric disease that bacteria could cause
gastritis and ulcers.
   
    In an editorial in the same issue of the medical journal,
Richard Hornick of the University of Rochester School of
Medicine, reviewed studies using antibiotics to treat ulcers.
Rizopuolos said Hornick concludes that the bacteria ulcer
relationship is "exciting and intriguing," but further studies
are needed to show a direct causal effect.
    Ulcers happen when the stomach's protective lining erodes
and is exposed to underlying inflamed tissue, but it is unknown
what actually causes the process.
   
It is known that stomach acids exacerbate ulcers and therefore
antacids were commonly used to alleviate ulcers before Tagamet
and Zantac came along. Both of these drugs prevent the release
of the hormone histamine in the stomach, which triggers acid
secretion.
    "I don't think people should run out and sell Glaxo," said
analyst Rizopuolos. "It will take a long time to displace
Tagamet and Zantac...those drugs are going to be prescribed by
physicians for a long time," she added.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6763" NEWID="18924">
<DATE>18-JUN-1987 14:39:09.68</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;f4277&#31;reute
d f BC-ITC-CONTESTS-USE-OF-D   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>ITC CONTESTS USE OF DOCUMENTS AS COURT EVIDENCE</TITLE>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>The International Tin Council, ITC,
intervened in a High Court hearing in an attempt to prevent the
presentation of internal Council documents as evidence.
    The intervention in Shearson Lehman's action against the
London Metal Exchange over its "ring out" of tin contracts in
1986 is likely to have implications for other cases in which
the Council is involved following the collapse of its buffer
stock operations in October 1985, ITC delegates said.
    The ITC's case is being presented by Professor Rosalyn
Higgins and is expected to take a further one or two days next
week. Court does not sit tomorrow.
    In essence the Council is claiming that its status is
similar to that of a foreign embassy and that its archives can
therefore not be used in an English court of law.
    The Council ended its quarterly session today ahead of
schedule. The meeting had been expected to go on until tomorrow
when the European Community's legal advisers were due to
attend, but delegates reviewed the progress of the various
legal actions today.
    Otherwise, the meeting was occupied with internal
administrative matters, delegates said.
    The ITC will continue to operate with a reduced staff after
June 30 following the two year extension of the sixth
International Tin Agreement.
    As well as dealing with the ongoing litigation, the Council
will continue with its statistical work and carry out some
research studies, although staffing in the research department
is being cut to one from two previously.
    At this week's session the Council elected Philip Sparkes
of Australia as first vice-chairman for the producing members
and Heinz Hofer of Switzerland as second vice-chairman for the
consumers for the year from July 1. Future quarterly sessions
are scheduled for October 5/7 and December 14/16.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6676" NEWID="18925">
<DATE>18-JUN-1987 14:40:40.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4280&#31;reute
d f BC-AMERICAN-CYANAMID-&lt;AC   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CYANAMID &lt;ACY> TO BUILD PLANT ADDITION</TITLE>
<DATELINE>    WAYNE, N.J., June 18 - </DATELINE><BODY>American Cyanamid Co said it plans
to construct a multimillion-dollar addition to its agricultural
flagship plant in Hannibal, Mo.
    The company said the facilities will produce Assert
herbicide, the third in the company's new series of
imidazolinone herbicides.
    Cyanamid, which is a biotechnology and chemical research
company, said the Hannibal plant is its principal agricultural
product manufacturing facility.
    Assert is a wild oat and broadleaf weed herbicide for use
on small grains and on sunflowers, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6765" NEWID="18926">
<DATE>18-JUN-1987 14:45:30.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4288&#31;reute
u f BC-FIRST-WISCONSIN-&lt;FWB>   06-18 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST WISCONSIN &lt;FWB> TO SELL BUILDING FOR GAIN</TITLE>
<DATELINE>    MILWAUKEE, June 18 - </DATELINE><BODY>First Wisconsin Corp said it has
agreed to sell its First Wisconsin Center in Milwaukee and
adjacent property to Trammell Crow Co for 195 mln dlrs,
resulting in a gain of 77 mln dlrs after tax.
    It said 36 mln dlrs of that amount will be included in 1987
earnings and the remainder will be accounted for over the next
10 years.
    First Wisconsin said the transaction was valued at 195 mln
dlrs.
    First Wisconsin said Trammell Crow officials said they
planned to build a high-rise, tower next to the 42-story
center, where First Wisconsin will continut to have its
headquarters.
    In addition to the center, First Wisconsin said the
property being sold includes two buildings directly east of the
center. First Wisconsin said it will continue to occupy the
area, leasing the space back from Trammell Crow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6678" NEWID="18927">
<DATE>18-JUN-1987 14:45:53.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4290&#31;reute
r f BC-NORTH-HILLS-&lt;NOHL.O>   06-18 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH HILLS &lt;NOHL.O> CLOSES LOAN</TITLE>
<DATELINE>    GLEN COVE, N.Y., June 18 - </DATELINE><BODY>North Hills Electronics Inc said
its North Hills Israel Ltd unit closed on a 1,500,000 dlr
loan from Overseas Private Investment Corporation, an agency of
the U.S. government.
    North Hills said the unit will use the loan in connection
with the construction and equipping of a 16,000-square-foot
manufacturing facility in Israel to produce components for
electrical control systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6767" NEWID="18928">
<DATE>18-JUN-1987 14:46:47.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f4295&#31;reute
d f BC-CHINA-GETS-97.4-MLN-D   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA GETS 97.4 MLN DLR WORLD BANK LOAN</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The World Bank said it approved a
97.4 mln dlr loan for China to help boost fertilizer output in
order to increase agricultural production.
    The 20-year loan supports a project aimed at improving the
efficiency of medium-scale fertilizer plants through technical
renovations and energy conservation, the bank said.
    It said the project also seeks to reduce agricultural
nutrient imbalances by building the capacity for phosphate
fertilizer production and to improve institutional efficiency
by introducing modern economic, financial and operational
systems and techniques.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6680" NEWID="18929">
<DATE>18-JUN-1987 14:46:52.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4296&#31;reute
s f BC-TRITON-ENERGY-CORP-&lt;O   06-18 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>TRITON ENERGY CORP &lt;OIL> SETS QUARTERLY</TITLE>
<DATELINE>    DALLAS, June 18 -
    </DATELINE><BODY>Qtly div 2-1/2 cts vs 2-1/2 cts prior
    Pay Oct One
    Record Sept Three
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6769" NEWID="18930">
<DATE>18-JUN-1987 14:49:58.81</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f4306&#31;reute
u f BC-/REYNOLDS-METALS-TO-R   06-18 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>REYNOLDS METALS TO RESTART IDLE POTLINE</TITLE>
<DATELINE>    RICHMOND, Va., June 18 - </DATELINE><BODY>Reynolds Metals Co said it plans
to restart the last idle potline at its Troutdale, Ore.,
primary aluminum plant.
    With the restart of this 22,700 tonne a year production
line, Reynolds said it will be operating at 100 pct of its
consolidated primary aluminum capacity of 695,000 tonnes per
year.
    Reynolds said work on the restart will begin in the near
future and it is expected that actual metal production will
begin September 1.
    The company said the start-up was necessitated by
continuing strong demand for aluminum and dwindling worldwide
inventories, and that the metal is needed to supply Reynolds'
various fabricating businesses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6770" NEWID="18931">
<DATE>18-JUN-1987 14:51:53.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4309&#31;reute
r f BC-FINGERMATRIX-&lt;FINX.O>   06-18 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>FINGERMATRIX &lt;FINX.O> COMPLETES RIGHTS OFFERING</TITLE>
<DATELINE>    NORTH WHITE PLAINS, N.Y., June 18 - </DATELINE><BODY>Fingermatrix Inc said
2,368,253 of the 2,649,387 rights to purchase common shares
that it issued to shareholders were exercised and Hallwood
Group Inc &lt;HWG> has purchased 165,000 common shares under an
option to buy shares for which rights were not exercised.
    In addition, it said it received oversubscription requests
for another 1,400,000 shares and will distribute 116,134 shares
on a pro rata basis.
    The company said proceeds after underwriting discounts and
commissions will be about 12.6 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6682" NEWID="18932">
<DATE>18-JUN-1987 14:52:10.35</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4312&#31;reute
r f BC-ALLEGHENY-&lt;ALGH.O>-FO   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGHENY &lt;ALGH.O> FORMING SUBSIDIARY</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Allegheny and Western Energy Corp said
it was forming a subsidiary to market gas to smaller users in
West Virginia.
    The company also said it completed negotiations to sell
between 10 and 12 mln cubic feet of gas per day to a large,
unspecified East Coast utility.
    Interstate markets will become part of the subsidiary's
operations, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6683" NEWID="18933">
<DATE>18-JUN-1987 14:52:43.28</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;f4315&#31;reute
r f BC-PROXMIRE-SAYS-FSLIC-C   06-18 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>PROXMIRE SAYS FSLIC CONFERENCE SET FOR NEXT WEEK</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Senate Banking committee chairman
William Proxmire, D-Wis, said a conference will be held with
the House Banking committee next week on a bill to refinance
the Federal Savings and Loan Insurance Corp.
    The Senate has passed a 7.5 billion dlr FSLIC refinancing,
while the House approved five billion dlrs in new funds. The
Senate bill also bars new bank services until next March and
bans so-called non-bank banks, provisions the House opposes.
    FSLIC is virtually out of money to help ailing thrift
institutions, according to the Federal Home Loan Bank Board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6684" NEWID="18934">
<DATE>18-JUN-1987 14:53:03.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4316&#31;reute
r f BC-O'BRIEN-ENERGY-&lt;OBS>   06-18 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>O'BRIEN ENERGY &lt;OBS> SEES HIGHER YEAR NET</TITLE>
<DATELINE>    PHILADELPHIA, June 18 - </DATELINE><BODY>O'Brien Energy Systems Inc said it
expects net income for the year ending June 30 of 12 to 15 cts
per share, up from eight cts last year.
    The company said the earnings will be aided substantially
be an agreement it has signed with Trafalgar House PLC
&lt;THSL.L>.  Under the agreement, it said Trafalgar will provide
turnkey construction, operation and maintenance services, as
well as construction financing, for O'Brien cogeneration plants
to be built in New Jersey and California.  Total installation
costs will be about 190 mln dlrs, it said, with construction to
start before year-end.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6774" NEWID="18935">
<DATE>18-JUN-1987 14:54:05.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4319&#31;reute
r f BC-PPG-INDUSTRIES-&lt;PPG>   06-18 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>PPG INDUSTRIES &lt;PPG> TO BUILD TAIWAN PLANT</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>PPG Industries said it signed an
agreement with Formosa Plastics Group to build and operate a
continuous strand fiber glass manufacturing plant in Taiwan.
    The 50-50 joint venture of PPG and Nan Ya Plastics, a
corporation of Formosa Plastics Group, is subject to approval
of Taiwan governmental agencies.
    PPG said the plant, scheduled to begin operating in early
1989, will have an initial annual capacity of 20,000 metric
tons.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6686" NEWID="18936">
<DATE>18-JUN-1987 14:54:28.82</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;f4321&#31;reute
r f BC-CONSUMERS-&lt;CMS>-SELLS   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSUMERS &lt;CMS> SELLS BONDS IN TWO TRANCHES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Consumers Power Co is raising 250 mln
dlrs through a two-tranche offering of first mortgage bonds,
said lead manager Morgan Stanley and Co Inc.
    A 150 mln dlr offering due 1992 was given a nine pct coupon
and par pricing to yield 112.5 basis points over comparable
Treasuries. This tranche is non-callable for life.
    A companion 100 mln dlr issue maturing in 1997 was assigned
a 9-5/8 pct coupon and priced at 98.50 to yield 9.703 pct, or
143 basis points over Treasuries. These bonds are non-callable
for five years.
    The debt is rated Baa-3 by Moody's, BBB-minus by S and P.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6687" NEWID="18937">
<DATE>18-JUN-1987 14:54:33.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4322&#31;reute
s f BC-NYNEX-CORP-&lt;NYN>-SETS   06-18 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>NYNEX CORP &lt;NYN> SETS QTLY DIVIDEND</TITLE>
<DATELINE>    NEW YORK, June 18 - 
    </DATELINE><BODY>Qtly div 95 cts vs 95 cts prior
    Pay August three
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6777" NEWID="18938">
<DATE>18-JUN-1987 14:56:44.97</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;f4327&#31;reute
u f BC-GILLETTE-&lt;GS>-SEEN-OB   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>GILLETTE &lt;GS> SEEN OBJECT OF GLOBAL BIDDING WAR</TITLE>
<AUTHOR>    By Cal Mankowski, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Ronald Perelman, head of Revlon Group
Inc &lt;REV>, may be trying to ignite a bidding war for Gillette
Co that could draw some big international players and in the
process make a lot of money for himself, Wall Street analysts
said.
    Several hours before a regularly scheduled board of
directors meeting, Gillette disclosed that Perelman requested
consent of its board for an offer of at least 40.50 dlrs per
share. Perelman needed the consent because he agreed in
November not to buy stock for 10 years without permission.
    "I think Ronald Perelman is less interested in Gillette and
more interested in putting Gillette into play because he stands
to make a ton of money," said Andrew Shore, analyst at Shearson
Lehman Brothers Inc. "In play" is a term used on Wall Street to
describe what happens when a company becomes an unwiling
takeover target.
    Shore noted that according to the 1986 agreement Revlon
gets paid if there is any acquisition of Gillette through
November of this year at a price higher than 29.75 dlrs per
share. Gillette rose three to 40 today, following a gain of
three yesterday.
    The agreement would be calculated on the basis of
Perelman's previous holding of 18.4 mln shares, adjusted for a
split. For example, a deal between Gillette and some other
company at 44 dlrs per share would make Revlon richer by 262
mln dlrs under the formula. Neither Perelman nor his spokesmen
returned telephone calls seeking comment.
    "Revlon stands to make a substantial amount of money if
someone else takes over Gillette," said Analyst Deepak Raj of
Merrill Lynch and Co. "I'm not saying that is going to happen
but Gillette is an undervalued stock with a breakup value of 45
dlrs per share."
    Shore of Shearson Lehman said there are a couple of reasons
why Perelman may not be really interested in acquiring
Gillette. He said Perelman, in the process of taking Revlon
private after acquiring control of the cosmetics company two
years ago, probably wants to concentrate on improving Revlon's
operations. "He's trying to overhaul and improve the image of
the dearptment store business." Another reason is that Revlon
has recently made two other acquisitions.
    Under those circumstances, Shore would not be surprised if
some company such as Unilever plc &lt;UN.AS> or Procter and Gamble
Co &lt;PG> decided to take a look at Gillette.
    Shore mentioned half a dozen other potential buyers for
Gillette including Sir James Goldsmith, Hanson Trust plc &lt;HAN>,
RJR Nabisco Inc &lt;RJR>, American Brands Inc &lt;AMB> and Ralston
Purina Co &lt;RAL>.
    "Perelman is trying to put the company in play," said a
Wall Street arbitrageur. "He gets to share in the upside if the
company is sold." Another arbitrageur said he expects Gillette
to resist Perelman's overture. "I can't see the board
consenting, what has changed between November and now," he
said.
   
    Another arbitrageur said he was not sure what was going on.
"Perelman never does anything without a fair amount of
calculation," he said. But he added, "The Gillette board has to
be careful. They just can't say no or they'll be sued by
shareholders." Gillette's board was still meeting at 1700 EDT,
three and one-half hours after the scheduled starting time.
    According to a copy of Perelman's letter released by
Gillette, he would be prepared to sign a defnitive merger
agreement without any financing condition. He said Citibank
N.A. is his lead lender and First Boston Inc is his financial
adviser.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6689" NEWID="18939">
<DATE>18-JUN-1987 14:57:42.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G 
&#22;&#22;&#1;f4332&#31;reute
d f BC-CHINA-GETS-WORLD-BANK   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA GETS WORLD BANK LOAN FOR FERTILIZER</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The World Bank said it approved a
97.4 mln dlr loan for China to help boost fertilizer output in
order to increase agricultural production.
    The 20-year loan supports a project aimed at improving the
efficiency of medium-scale fertilizer plants through technical
renovations and energy conservation, the bank said.
    It said the project also seeks to reduce agricultural
nutrient imbalances by building the capacity for phosphate
fertilizer production and to improve institutional efficiency
by introducing modern economic, financial and operational
systems and techniques.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6690" NEWID="18940">
<DATE>18-JUN-1987 14:59:39.86</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;f4338&#31;reute
u f BC-PNC-FINANCIAL-&lt;PNCF.O   06-18 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>PNC FINANCIAL &lt;PNCF.O> RAISES LOSS RESERVE</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>PNC Financial Corp said it will raise
its loan loss reserve by 110 mln dlrs to about 386 mln dlrs,
reducing second quarter results by 66 mln dlrs or 92 cts per
share on a fully diluted basis.
    The company said that after the charge it still expects to
report a second quarter profit and expects a first half profit
of about 100 mln dlrs.
    It added that it expects normal operating earnings in the
second half.
    The company earned 68.5 mln dlrs in the 1986 second quarter
and 121.6 mln dlrs in the prior first half.
    It said the increase in loss reserves was due to its
appraisal of the worldwide economy, particularly in less
developed countries that are experiencing payment problems.
    The company said the part of its loss reserve allocated to
such countries is about 35 pct of its loans to those countries.
It said the move would not result in any change to its current
dividend policy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6780" NEWID="18941">
<DATE>18-JUN-1987 14:59:53.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4339&#31;reute
u f BC-A.H.-ROBINS-&lt;QRAH>-WI   06-18 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>A.H. ROBINS &lt;QRAH> WINS APPEALS COURT RULING</TITLE>
<DATELINE>    RICHMOND, June 18 - </DATELINE><BODY>A.H. Robins Co, facing suits over its
Dalkon Shield birth control device, said a Federal Court of
Appeals approved of the way the company notified potential
victims about a possible liability.
    The notification of potential claimants, which began in
january 1986 and ended several months later, was challenged by
some claimant committees who said the company's program was
inadequate.
    A company spokesman said A.H. Robins was pleased with the
ruling, noting an unfavorable decision would have "set the
whole thing back for quite some time."
    The ruling by the U.S. Court of Appeals for the fourth
circuit, which upheld a lower court, said, "the notification
program used by Robins was ... reasonable.
    "The evidence indicates that every news outlet in the world
received the information. Simiarly, there is strong evidence
that the news was broadly disseminated worldwide.
    "Women from such unlikely locations as Kenya, Botswana,
Pakistan and Bangladesh ultimately filed claims. A battery of
world health and welfare organizations also disseminated the
information. It appears to this Court that the extensive
notification program was a success."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6781" NEWID="18942">
<DATE>18-JUN-1987 15:00:13.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM 
&#22;&#22;&#1;f4340&#31;reute
r f BC-ALCOA-&lt;AA>-TO-BUY-BAC   06-18 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>ALCOA &lt;AA> TO BUY BACK 12 PCT DEBENTURES</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Aluminum Co of America said it is
offering to purchase any and all of its outstanding 150 mln
dlrs of 12 pct sinking fund debentures of 2012.
    It said it will buy back the debentures at 1,105 dlrs per
1,000 dlr principal amount, plus accrued interest up to, but
not including, the day of payment.
    The offer will end at 1700 EDT (2100 GMT) on June 30,
unless extended. Payment will be made on July eight. The
buyback offer will be co-managed by Merrill Lynch Capital
Markets and Salomon Brothers Inc, Alcoa said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6692" NEWID="18943">
<DATE>18-JUN-1987 15:05:46.12</DATE>
<TOPICS><D>zinc</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f4358&#31;reute
f f BC-peru's-minpeco-lifts   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MINPECO LIFTS FORCE MAJEURE ON ZINC INGOT
SHIPMENTS FROM CAJAMARQUILLA-SPOKESMAN
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6693" NEWID="18944">
<DATE>18-JUN-1987 15:05:55.47</DATE>
<TOPICS><D>strategic-metal</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4359&#31;reute
r f BC-TRW-INC-&lt;TRW>-SETS-PA   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>TRW INC &lt;TRW> SETS PACT WITH TEKTRONIX &lt;TEK></TITLE>
<DATELINE>    TORRANCE, Calif., June 18 - </DATELINE><BODY>TRW Inc's TRW Componenets
International Inc unit said it set a pact with Tektronix Inc's
TriQuint Semiconductor unit to jointly supply gallium arsenide
devices for space applications.
    As part of the agreement, the two companyies are working
together to establish procedures to produce class "S" (a
stringent military specification for space use) gallium
arsenide components.
    TriQuint makes gallilum arsenide integrated circuits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6694" NEWID="18945">
<DATE>18-JUN-1987 15:08:54.04</DATE>
<TOPICS><D>zinc</D></TOPICS>
<PLACES><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M 
&#22;&#22;&#1;f4364&#31;reute
b f BC-force-majeure-lifted   06-18 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>FORCE MAJEURE LIFTED AT CAJAMARQUILLA</TITLE>
<DATELINE>    LIMA, June 18 - </DATELINE><BODY>Peru's state minerals marketing arm, Minero
Peru Comercial SA (Minpeco), lifted a force majeure on zinc
ingot shipments from the country's biggest zinc refinery at
Cajamarquilla, a spokesman said.
    The spokesman said the problems affecting sulphuric acid
and roaster plants that had halted production since May 4 had
been resolved.
    However, he said production of zinc ingots this year was
expected to fall to around 86,000 tonnes this year at
Cajamarquilla, from 94,000 tonnes in 1986 because of the
stoppage.
    The refinery has an optimum annual production capacity of
100,000 tonnes but its highest production was 96,000 tonnes of
refined zinc ingots in 1985, the spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6785" NEWID="18946">
<DATE>18-JUN-1987 15:09:55.59</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f4369&#31;reute
b f BC-ASSETS-OF-U.S.   06-18 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ASSETS OF U.S. MONEY FUNDS FELL 702.4 MLN DLRS IN LATEST
WEEK TO 235.75 BILLION
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6786" NEWID="18947">
<DATE>18-JUN-1987 15:11:37.72</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;f4374&#31;reute
r f BC-CRAZY-EDDIE-&lt;CRZY>-MA   06-18 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CRAZY EDDIE &lt;CRZY> MAY BE DOWNGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
may downgrade Crazy Eddie Inc's 65 mln dlrs of B-1 convertible
subordinated debentures.
    Moody's cited Crazy Eddie's reduced profitability, recent
acquisition proposals for the company that could increase debt
leverage, and an uncertain earnings outlook.
    The agency said its review would consider the company's
concentration in the highly competitive New York marketplace,
as well as Crazy Eddie's ability to maintain adequate bank
financing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6787" NEWID="18948">
<DATE>18-JUN-1987 15:14:39.36</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4383&#31;reute
b f BC-AMERICAN-EXPRES   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN EXPRESS BANK LTD WILL ADD 600 MLN DLRS TO LOAN
LOSS RESERVES

</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6788" NEWID="18949">
<DATE>18-JUN-1987 15:16:05.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>mexico</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A 
&#22;&#22;&#1;f4387&#31;reute
r f BC-mexico-signs-120-mln   06-18 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>MEXICO SIGNS 120 MLN DLR RESTRUCTURING WITH U.K.</TITLE>
<DATELINE>    MEXICO CITY, June 18 - </DATELINE><BODY>Mexico signed a rescheduling accord
covering 120 mln dlrs in official debts to Britain, as part of
a 1.8 billion dlr restructuring agreed with the Paris club of
creditors last year, the finance ministry said.
    The rescheduling is over 10 years with five years grace,
and carries an interest margin of 1/2 pct over libor.
    Finance minister Gustavo Petricioli, who signed the accord
for Mexico, said the agreement reflects a strengthening of
economic, financial and trade relations between the two
countries.
    The Paris Club restructuring forms part of a 12 billion dlr
financial package agreed with Mexico's creditors last year.
    The rescheduling covers public sector trade debts coming
due between september 1986 and march 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6789" NEWID="18950">
<DATE>18-JUN-1987 15:17:19.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4393&#31;reute
d f BC-CNS-&lt;CNXS.O>-COMPLETE   06-18 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>CNS &lt;CNXS.O> COMPLETES INITIAL PUBLIC OFFERING</TITLE>
<DATELINE>    MINNEAPOLIS, June 18 - </DATELINE><BODY>CNS Inc said it completed its
initial public offering of 1,035,000 shares of common stock at
3.75 dlrs a share through an underwriting group headed by
Engler-Budd and Co Inc.
    Concurrent with the offering, the company made an exchange
offer in which it issued 277,127 common shares in exchange for
935,333 dlrs of outstanding promissory notes at the rate of
3.375 dlrs a share. This represented over a 93 pct acceptance
of the exchange offer, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6790" NEWID="18951">
<DATE>18-JUN-1987 15:17:38.42</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4395&#31;reute
h f BC-USX-&lt;X>-UNIT-OFFERS-S   06-18 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> UNIT OFFERS STEEL PRICES DIRECTORY</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>USX Corp said its USS division has
available a comprehensive sheet steel selection and pricing
system detailing the company's full line of products.
    The company said it was the first complete update in 25
years.
    The new prices in the book are effective after Oct One,
1987, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6701" NEWID="18952">
<DATE>18-JUN-1987 15:17:43.64</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M F 
&#22;&#22;&#1;f4396&#31;reute
u f BC-inspiration-cop-price   06-18 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>INSPIRATION CUTS COPPER PRICE 0.50 CT TO 74 CTS</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Inspiration Consolidated Copper Co, a
subsidiary of Inspiration Resources Corp, said it is lowering
its base price for full-plate copper cathodes by 0.50 cent to
74.0 cents a lb, effective immediately.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6702" NEWID="18953">
<DATE>18-JUN-1987 15:18:11.68</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;f4398&#31;reute
r f BC-agf   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;AGF MANAGEMENT LTD> SIX MTHS MAY 31 NET</TITLE>
<DATELINE>    TORONTO, June 18 -
    </DATELINE><BODY>Shr 58 cts vs 38 cts
    Net 4,628,650 vs 3,041,407
    Revs 45.0 mln vs 28.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6703" NEWID="18954">
<DATE>18-JUN-1987 15:19:04.34</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f4400&#31;reute
b f BC-/CHINA-ADDS-CORN-TO-C   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA ADDS CORN TO COMMITMENTS - USDA</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>China has added 30,000 tonnes of U.S.
corn to its previous commitments, according to the U.S.
Agriculture Department's latest Export Sales report.
    The report, covering transactions in the week June 11, the
additional corn resulted from changes in destinations.
    Total corn commitments for delivery in the 1986/87 season
amount to 1,083,400 tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6793" NEWID="18955">
<DATE>18-JUN-1987 15:19:17.12</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;f4401&#31;reute
a f BC-DATA-MED-CLINICAL-SUP   06-18 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA MED CLINICAL SUPPORT&lt;DMCS.O> 1ST QTR LOSS</TITLE>
<DATELINE>    MINNEAPOLIS, June 18 - </DATELINE><BODY>Period ended May 31
    Shr loss five cts vs loss 11 cts
    Net loss 306,007 vs loss 102,420
    Sales 110,522 vs 10,105
    NOTE: Full name is Data Med Clinical Support Services Inc
    Per-share data adjusted for three-for-one stock split
payable June 30, 1987
    The only sales reflected in fiscal 1987 period are sales
recorded subsequent to the May 22, 1986 acquisition of the
assets of a predecessor company by Data Med
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6705" NEWID="18956">
<DATE>18-JUN-1987 15:24:10.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4412&#31;reute
r f BC-ALEXANDER-&lt;AAL>-ESTAB   06-18 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>ALEXANDER &lt;AAL> ESTABLISHES INSURANCE UNIT</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Alexander and Alexander Services Inc
said it formed an insurance unit known as the Environmental
Protection Insurance Co-Risk Retention Group to specialize in
environmental liability coverage.
    The company said the unit has started preliminary
underwriting activities and will provide environmental
impairment coverage to companies with pollution liability
exposures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6795" NEWID="18957">
<DATE>18-JUN-1987 15:26:04.89</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;f4417&#31;reute
r f BC-SOUTHLAND-&lt;SLC>-MAY-B   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHLAND &lt;SLC> MAY BE DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Standard and Poor's Corp said it may
downgrade Southland Corp's 156 mln dlrs of debt securities and
125 mln dlrs (liquidation value) of preferred stock.
    The agency cited Southland's announcement that it is
studying various restructuring alternatives. S and P said that
the company has been a rumored takeover target for a while, and
a restructuring would probably be a defensive move to thwart an
unfriendly bid.
    Southland currently carries BBB senior debt and A-2
commercial paper.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6796" NEWID="18958">
<DATE>18-JUN-1987 15:33:11.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A 
&#22;&#22;&#1;f4436&#31;reute
r f BC-CORRECTED---CRAZY-EDD   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED - CRAZY EDDIE &lt;CRZY> MAY BE DOWNGRADED</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Moody's Investors Service Inc said it
may downgrade Crazy Eddie Inc's 81 mln dlrs of B-1 convertible
subordinated debentures.
    Moody's cited Crazy Eddie's reduced profitability, recent
acquisition proposals for the company that could increase debt
leverage, and an uncertain earnings outlook.
    The agency said its review would consider the company's
concentration in the highly competitive New York marketplace,
as well as Crazy's ability to maintain adequate bank financing.
    Moody's corrects amount of debt from 65 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6708" NEWID="18959">
<DATE>18-JUN-1987 15:34:18.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F 
&#22;&#22;&#1;f4441&#31;reute
f f BC-NOVA-CORP-SAYS   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NOVA CORP SAYS IT IS CONSIDERING A TAKEOVER BID FOR DOME
PETROLEUM
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6798" NEWID="18960">
<DATE>18-JUN-1987 15:34:32.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4442&#31;reute
r f BC-MCDONNELL-DOUGLAS-&lt;MD   06-18 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>MCDONNELL DOUGLAS &lt;MD>, SIEMENS SIGN MEMORANDUM</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>McDonnell Douglas Corp and Siemens AG
&lt;SIEG.F> said they signed a memorandum of understanding dealing
with the AH-64 Apache helicopter.
    They said the memorandum deals with depot maintenance of
the U.S. Army's helicopters based in West Germany and a joint
study of the potential development and production of the
helicopter for the West German Army.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6710" NEWID="18961">
<DATE>18-JUN-1987 15:41:39.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE><D>reagan</D><D>thatcher</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM 
&#22;&#22;&#1;f4456&#31;reute
u f BC-UK-"STAR-WARS"-CONTRA   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>UK "STAR WARS" CONTRACTS SEEN AS TOO SMALL</TITLE>
<AUTHOR>    By Sten Stovall, Reuters</AUTHOR>
<DATELINE>    LONDON, June 18 - </DATELINE><BODY>British companies are being largely
frozen out of President Reagan's "Star Wars" project despite
earlier hopes of lucrative contracts from the research bonanza,
according to a report by Members of Parliament (MPs).
    Funding for the project, formally known as the Strategic
Defence Initiative (SDI), has so far amounted to some 7.5
billion dlrs, parliament's Defence Committee said.
    But British contractors have won only 34 mln dlrs of this
-- 20 mln dlrs on a government-to-government basis, with the
rest secured directly by U.K. Firms and institutions.
    In December 1985, Britain and the United States signed a
Memorandum of Understanding (MoU) relating to cooperative
research for the Strategic Defence Initiative.
    At the time, hopes were expressed that U.K. Industrial
participation would lead to significant spin-off of technology,
both of other defence areas and to the civil sector.
    But the all-party committee report said "the debate about
the merits of U.K. Participation in SDI has now to be conducted
within a rather different context than was the case when the
MoU was negotiated.... It has become evident that SDI
participation may not be the great bonanza that some thought."
    British Prime Minister Margaret Thatcher has been one of
President Reagan's few staunch supporters on his plan to
development an anti-ballistic missile defence screen.
    But government sources said she has become angry about
bureaucratic barriers to British companies trying to break into
the lucrative American defence market generally -- a view
voiced again today by her defence minister, George Younger.
    He told a gathering here of British and American
businessmen, "We in Europe greatly welcome the emphasis which
you in the U.S. Have placed on cooperation and collaboration in
the defence equipment sphere."
    He added, "But I do worry that the failure of important and
influential individuals in Congress and elsewhere to realise
the true nature of the two-way street in terms of ideas,
technology and equipment will lead to the erection of
artificial barriers."
    "I am afraid that the danger signals are only too visible in
the form of both of the legislative proposals which seem to
arise with ever increasing frequency on (Capitol) Hill, and of
new regulations from the U.S. Administration," Younger said.
    "The defence balance of trade with the U.K. and other allies
is still markedly in favour of the U.S."
    Thatcher will visit Washington next month for talks with
President Reagan. U.K. Government officials said she would
probably raise the subject of defence trade when they meet.
    The report by Parliament's Defence Committee said that the
British position towards SDI was based on four points agreed
between Thatcher and Reagan in December 1984, they being that:
    - The aim was not superiority, but to maintain balance
    - SDI-related deploymewnt would be a matter for negotiation
    - The overall aim is to enhance, not undercut, deterence
    - East-West negotiation should aim to achieve security with
reduced levels of offensive systems on both sides.
    The committee in its report said, "we very much support the
government's view that SDI research should proceed only within
the framework of the Camp David "four points" and in particular
that it should be in entire conformity with the provisions of
the ABM (Anti-Ballistic Missile) Treaty."
    "We note that all present and envisaged SDI work undertaken
by UK contractors falls in the "narrow" interpretation of the
treaty, (and) we recommend that the government takes the
appropriate steps to ensure that this continues to be the case."
    That definition prohibits the U.S. And Soviet Union from
developing, testing or deploying ABM systems, experts said.
    That recommendation would of course change, it added, if "it
has become clear that the Soviet Union has taken the lead in
renouncing the constraints of the narrow interpretation."
    Regarding possibilities for technology spin-offs, the
committee report said that "the present predominance of "paper
studies" in SDI contracts awarded to British firms and
institutions militates against any such achievement."
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6800" NEWID="18962">
<DATE>18-JUN-1987 15:42:36.69</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;f4458&#31;reute
r f BC-CARTER-HAWLEY-&lt;CHH>-S   06-18 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>CARTER HAWLEY &lt;CHH> SETS RECORD DATE FOR VOTE</TITLE>
<DATELINE>    LOS ANGELES, June 18 - </DATELINE><BODY>Carter Hawley Hale Stores Inc said
it has set June 29 as the record date for shareholders voting
on the company's proposed restructuring at its annual meeting.
    The company has yet to set a date for the meeting, but has
said it will be held before the end of August.
    Under the proposal, Carter Hawley would split into a
specialty store company and a department store company.
    Shareholders would get 17-dlrs in cash and a share in each
of the two new companies for each existing common share they
hold. The restructuring was announced in December, after Carter
Hawley rejected a buy-out offer by Retail Partners.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6712" NEWID="18963">
<DATE>18-JUN-1987 15:43:57.70</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;f4465&#31;reute
b f BC-ALLEGHENY-&lt;AI>-SELLS   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGHENY &lt;AI> SELLS THREE INDUSTRIAL UNITS</TITLE>
<DATELINE>    PITTSBURGH, June 18 - </DATELINE><BODY>Allegheny International Inc said it
sold three of its industrial units which served the railroad
industry to &lt;Chemetron Railway Products Inc>, a senior
management group of Allegheny.
    Terms of the transaction were not disclosed.
    Included in the sale were Chemetron Railway Products, True
Temper Railway Appliances Inc and Allegheny Axle Co, the
company said.
    The three units include 12 plants throughout the U.S., the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6713" NEWID="18964">
<DATE>18-JUN-1987 15:45:19.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4469&#31;reute
d f BC-VESTAUR-SECURITIES-IN   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>VESTAUR SECURITIES INC &lt;VES> QUARTERLY DIVIDEND</TITLE>
<DATELINE>    PHILADELPHIA, June 18 - 
    </DATELINE><BODY>Qtly div 30.1 cts vs 30.1 cts prior
    Pay July 15
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6714" NEWID="18965">
<DATE>18-JUN-1987 15:45:23.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4470&#31;reute
d f BC-ONE-VALLEY-BANCORP-IN   06-18 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>ONE VALLEY BANCORP INC &lt;OVWV.O> QTLY DIVIDEND</TITLE>
<DATELINE>    NEW YORK, June 18 - 
    </DATELINE><BODY>Qtly div 26 cts vs 26 cts prior
    Pay July 15
    Record June 29
    Note:the company's full name is One Valley Bancorp of West 
   Virginia Inc
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6804" NEWID="18966">
<DATE>18-JUN-1987 15:45:31.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4471&#31;reute
d f BC-PHILLIPS-PETROLEUM-CO   06-18 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS PETROLEUM CO &lt;P> UNIT BUILDS NEW PLANT</TITLE>
<DATELINE>    BATTLESVILLE, Okla., June 18 - </DATELINE><BODY>Phillips Petroleum Co said
its Provesta Corp unit will build a semi-commercial
fermentation products plant with capacity of more than 3 mln
lbs a year of Provesteen yeast.
    The company said construction of the plant is set to begin
in August with completion due April-May 1988.
    It said the plant will be built by Jacobs Engineering Group
Inc &lt;JEC>.
    The company said the purpose of the plant is to demonstrate
a scale-up of Phillips and Provesta's fermentation technology.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6805" NEWID="18967">
<DATE>18-JUN-1987 15:46:06.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4474&#31;reute
d f BC-CORTEZ-&lt;COZYF.O>-UNIT   06-18 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CORTEZ &lt;COZYF.O> UNIT SETS FOOD PARTNERSHIP</TITLE>
<DATELINE>    DALLAS, June 18 - </DATELINE><BODY>Ram Industries Inc, a unit of Cortez
International Ltd., said an agreement has been reached with
&lt;Treasure Valley Foods> of Nampa, Idaho, to lease all of
Treasure's buildings and equipment.
    The company said the joint venture will be between Ram and
one of its units, Multiple Resources Inc, and that the
operation will retain key Treasure management employees.
    Ram said operations will begin by August one and will
involve processing onions in addition to other frozen food
products during the initial year of the project.
   
    Ram said it expects sales to exceed 12 mln dlrs during the
first 24 months with net income exceeding 1.8 mln dlrs.
    The company also said it is in negotiations to purchase a
yet undisclosed facility in Mississippi which processes up to
1.4 mln pounds of frozen okra monthly.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6717" NEWID="18968">
<DATE>18-JUN-1987 15:46:17.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4477&#31;reute
d f BC-ENNIS-BUSINESS-FORMS   06-18 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>ENNIS BUSINESS FORMS INC &lt;EBF> QTLY DIVIDEND</TITLE>
<DATELINE>    ENNIS, Texas, June 18 - 
    </DATELINE><BODY>Qtly div 13 cts vs 11-1/3 cts prior
    Pay Aug 3
    Record July 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6718" NEWID="18969">
<DATE>18-JUN-1987 15:46:20.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4478&#31;reute
s f BC-GREAT-LAKES-CHEMICAL   06-18 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT LAKES CHEMICAL CORP &lt;GLK> SETS REG DIV</TITLE>
<DATELINE>    WEST LAFAYETTE, Ind., June 18 -
    </DATELINE><BODY>Qtly div 15 cts vs 15 cts prior
    Pay July 28
    Record July one
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6719" NEWID="18970">
<DATE>18-JUN-1987 15:46:29.72</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;f4480&#31;reute
b f BC-NYSE-TO-DISCLOSE-IMBA   06-18 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>NYSE TO DISCLOSE IMBALANCES TWICE TOMORROW</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>The New York Stock Exchange said in
connection with the triple expirations of stock index futures,
options and individual options it will disclose imbalances in
50 major stocks tomorrow at 0900 EDT and again at 1530 EDT.
    The information will be disclosed via financial news
services.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6808" NEWID="18971">
<DATE>18-JUN-1987 15:46:51.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4483&#31;reute
r f BC-SOUTHERN-CALIFORNIA-E   06-18 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHERN CALIFORNIA EDISON &lt;SCE> RAISES DIVIDEND</TITLE>
<DATELINE>    ROSEMEAD, Calif., June 18 -
    </DATELINE><BODY>Qtly div 59.5 cts vs 57 cts
    Pay July 31
    Record July 2
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6721" NEWID="18972">
<DATE>18-JUN-1987 15:48:10.73</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM 
&#22;&#22;&#1;f4489&#31;reute
f f BC-MOODY'S-AFFIRMS   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S AFFIRMS AMERICAN EXPRESS CO'S 8.6 BILLION DLRS OF
DEBT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6810" NEWID="18973">
<DATE>18-JUN-1987 15:49:10.20</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f4490&#31;reute
u f BC-SENATOR-DEFENDS-U.S.   06-18 0137</UNKNOWN>
<TEXT>&#2;
<TITLE>SENATOR DEFENDS U.S. MANDATORY FARM CONTROL BILL</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Sen. Tom Harkin, D-Iowa, defended his
controversial mandatory supply control farm bill and said U.S.
farmers should be allowed to vote in a referendum whether they
approve of the proposal.
    The Harkin proposal would set loan rates of 5.17 dlrs per
bushel for wheat, 3.77 dlrs for corn and 9.32 dlrs for
soybeans, all to be put in effect under strict controls on
planted acreage reductions. Present loan rates are 2.28 dlrs
for wheat, 1.92 for corn, and effectively 4.56 for soybeans.
    Also under the plan, the U.S. would seek a world market
sharing cartel with the European Community and other exporting
nations, to share-out export markets, Harkin said during the
first of several Senate Agriculture subcommittee hearings
examining farm programs.
    Harkin made the following claims in testimony on his
"Family Farm Act."
    -- The mandatory control bill would increase farm income
and reduce government spending on agriculture.
    -- Harkin said his policy of high price supports would not
ruin U.S. agricultural exports as critics claim, but would
increase overall revenue from exports.
    This would be done by seeking agreement among major
exporting countries including the European Community on market
sharing at agreed high prices.
    Sen. Christopher Bond, R-Mo., countered during the hearing
that such a grain export cartel is not workable.
    -- Harkin acknowledged that higher commodity price supports
would be passed onto consumers, but he said high food prices
stem more from "gouging" by food processing companies than from
high farm product prices.
    Harkin cited what he termed "excessive" net returns on
equity over five years of 33.4 pct at Kellogg, 31.9 pct
Monfort, 22.8 pct Nabisco, 22.8 pct ConAgra, 21.2 pct H.J.
Heinz, 19.1 pct Ralston Purina, 17.2 pct Pillsbury and 16.7 pct
Quaker Oats.
    -- Harkin said a "legitimate" concern about his bill would
be the impact of higher prices on livestock producers.
    He said as a transition to the higher prices, he would
allow livestock producers to purchase Commodity Credit Corp.
grain stocks for three years.
    Thereafter, livestock farmers would benefit from a
"predictable and stable" grain price, he said.
    -- Harkin said that under his policy approach farm
participation would be no more "mandatory" than the current
farm program. He said farmers now must participate in farm
programs in order to receive credit for planting and to protect
farm income.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6723" NEWID="18974">
<DATE>18-JUN-1987 15:50:05.69</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM 
&#22;&#22;&#1;f4494&#31;reute
b f BC-MOODY'S-MAY-DOW   06-18 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S MAY DOWNGRADE POTOMAC ELECTRIC'S 1.3 BILLION DLRS
OF DEBT
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6812" NEWID="18975">
<DATE>18-JUN-1987 15:51:15.23</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F RM Y 
&#22;&#22;&#1;f4501&#31;reute
u f BC-NOVA-&lt;NVAA.TO>-CONSID   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>NOVA &lt;NVAA.TO> CONSIDERING BID FOR DOME &lt;DMP></TITLE>
<DATELINE>    Calgary, Alberta, June 18 - </DATELINE><BODY>Nova Corp is considering a
takeover bid for Dome Petroleum Ltd, either alone or as part of
a consortium, Nova chairman Bob Blair said.
    "We are thinking about making an offer to Dome or Amoco
(Canada Petroleum Co Ltd) or the creditors," Blair told
reporters before the annual meeting. Amoco Canada is a unit of
Amoco Corp &lt;AN>, which has made a 5.2 billion-dlr acquisition
offer for Dome.
    "There is ongoing, serious thought applied to Dome in Nova
and in Husky, but no decision of substance as to future action
has been taken in either company," Blair said. Nova owns 43 pct
of Husky Oil Ltd &lt;HYO.TO>.
    Blair also said that Nova has made no decision as to
whether it would want to be lead partner in a joint purchase of
Dome.
    He added that some of the discussions with other parties
about Dome included TransCanada PipeLines Ltd &lt;TRP>, but
refused to name the other participants.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6813" NEWID="18976">
<DATE>18-JUN-1987 15:52:11.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4506&#31;reute
u f BC-RED-LION-INNS-L.P.-&lt;R   06-18 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>RED LION INNS L.P. &lt;RED> SETS INITIAL DIVIDEND</TITLE>
<DATELINE>    VANCOURVER, Wash., June 18 - </DATELINE><BODY>Red Lion Inns Limited
Partnership said it declared an initial cash distribution of 43
cts per unit, which is a proration of 50 cts per quarter.
    The distribution is payable August 14 to unitholders of
record June 30.
    The payout was adjusted to reflect the actual number of
days the partnership will have owned the hotels during the
calendar quarter ended June 30, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6814" NEWID="18977">
<DATE>18-JUN-1987 15:52:16.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4507&#31;reute
d f BC-NYNEX-CORP-&lt;NYN>-QUAR   06-18 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>NYNEX CORP &lt;NYN> QUARTERLY DIVIDEND</TITLE>
<DATELINE>    NEW YORK, June 18 - 
    </DATELINE><BODY>Qtly div 95 cts vs 95 cts prior
    Pay Aug 3
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6727" NEWID="18978">
<DATE>18-JUN-1987 15:52:30.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4509&#31;reute
d f BC-FIRST-FEDERAL-OF-MICH   06-18 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST FEDERAL OF MICHIGAN &lt;FFOM.O> QTLY DIV</TITLE>
<DATELINE>    DETROIT June 18 - 
    </DATELINE><BODY>Qtly div 12 cts vs 12 cts prior
    Pay Aug 10
    Record July 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6728" NEWID="18979">
<DATE>18-JUN-1987 15:52:37.30</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;f4510&#31;reute
r f BC-GILLETTE-&lt;GS>-PAPER-M   06-18 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>GILLETTE &lt;GS> PAPER MAY BE CUT BY S/P</TITLE>
<DATELINE>    NEW YORK, June 18 - </DATELINE><BODY>Standard and Poor's Corp said it placed
on creditwatch with negative implications Gillette Co's A-2
commercial paper pending the outcome of a possible takeover by
Revlon Group Inc &lt;REV>.
    Revlon, currently bound by a standstill agreement following
an earlier bid for the company, has asked Gillette's board for
permission to make a 40.50 dlr per share bid for the firm.
    Should Revlon be successful, Gillette's rating would
reflect the weaker credit quality and aggressive nature of
Revlon, whose senior debt is rated B, the agency said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6816" NEWID="18980">
<DATE>18-JUN-1987 15:56:50.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4516&#31;reute
r f BC-KRAFT   06-18 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>KRAFT &lt;KRA> DEFENDS CHEESE ADVERTISING</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>Kraft Inc said it strongly disagreed
with a complaint filed by the Federal Trade Commission that it
made false and misleading claims about its Kraft Singles cheese
product and said it would fight the charge.
    "Kraft has always been committed to informative and
truthful advertising and this compaign clearly meets those
criteria," Kraft said in a prepared statement.
    "We believe the integreity of the advertising will be
established through the litigation process," Kraft said.
    Company spokesman Scott Horne said he could not elaborate
on the statement because the case is being litigated.
    The FTC charged Kraft with making false and misleading
claims in its advertising by overstating the calcuim content of
its Kraft Singles American Pasteurized Process Cheese Food.
    In an administrative complaint, the FTC charged the
Glenview, Ill., food and consumer products company with falsely
claiming that a slice of Kraft Singles contains the same amount
of calcium as five ounces of milk.
    The company also falsely advertised that Kraft Singles
contain more calcium than most slices of imitation cheese and
that it could substantiate its claims, the FTC charged.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6730" NEWID="18981">
<DATE>18-JUN-1987 15:58:18.85</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F A 
&#22;&#22;&#1;f4521&#31;reute
f f BC-AMERICAN-EXPRES   06-18 0019</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN EXPRESS CO SEES 50 MLN DLR CONSOLIDATED LOSS IN
2ND QTR FROM ADDITION TO UNIT'S LOAN LOSS RESERVE.
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6818" NEWID="18982">
<DATE>18-JUN-1987 18:08:04.36</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;f4879&#31;reute
r f BC-FDIC-SAYS-MISSOURI-BA   06-18 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>FDIC SAYS MISSOURI-BASED BANK HAS FAILED</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>The Federal Deposit Insurance Corp
said the First Midwest Bank based in Maryville, Mo., was closed
by state regulators, becoming the 91st federally insured bank
to fail this year.
    The FDIC said First Midwest's 25.1 mln dlrs in deposits are
being assumed by the First Bank of Maryville, a newly chartered
subsidiary of (Citizens Bancshares Co) of Chillicothe, Mo.
    It said the failed bank's two offices, with assets of 25.2
mln dlrs, will reopen June 19 as branches of First Bank.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6819" NEWID="18983">
<DATE>18-JUN-1987 18:09:07.17</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;f4880&#31;reute
r f BC-FIRST-WACHOVIA-&lt;FW>-A   06-18 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST WACHOVIA &lt;FW> ADDS TO LOAN LOSS RESERVE</TITLE>
<DATELINE>    ATLANTA, Ga., June 18 - </DATELINE><BODY>First Wachovia Corp said it will
add 50 mln dlrs to its loan loss reserve. It said about 35 mln
dlrs will cover bad loans to developing countries and the
balance is for domestic and international loans.
    First Wachovia also said it will report a second quarter
capital gain of 14.3 mln dlrs from the sale of equity
securities. It said the effect of these transactions will
reduce its second quarter earnings by 20 mln dlrs or 37 cts a
share in net income for the quarter.
    In the year-ago quarter the bank earned 45 mln dlrs or 83
cts a share.
    First Wachovia also said that excluding the second quarter
special items, it expects to report a "good operating earnings
performance" compared with the year-ago quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6820" NEWID="18984">
<DATE>18-JUN-1987 18:14:59.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G 
&#22;&#22;&#1;f4886&#31;reute
d f BC-WHITE-HOUSE-STAFFER-C   06-18 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE STAFFER CONSIDERED TO HEAD CFTC</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>A White House associate personnel
director, Mark Sullivan, emerged as a possible candidate to
replace Susan Phillips as chairman of the Commodity Futures
Trading Commission (CFTC).
    Commodity industry and government sources said Sullivan,
who is not well known to the commodities industry, has emerged
this week as a surprise candidate for the post.
    Sullivan, an attorney, has been in charge of Reagan
administration personnel appointments in the legal and
financial affairs areas since July, 1986.
    Phillips resigned last month to assume the post of vice
president of finance at the University of Iowa.
    Following Phillips' resignation CFTC commissioner Kalo
Hineman, a Kansas farmer, or commissioner Robert Davis were
considered the strongest candidates to head the agency, at
least temporarily.
    However, industry sources said the strong speculation about
Sullivan suggests he now is the leading candidate.
    Sullivan's name has also been floated recently for other
Reagan administration financial regulatory positions. He was
rumored in April to be under consideration for a position on
the board of the Federal Home Loan Bank Board, which regulates
Savings and Loan Associations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6821" NEWID="18985">
<DATE>18-JUN-1987 18:15:40.41</DATE>
<TOPICS><D>gnp</D><D>bop</D></TOPICS>
<PLACES><D>france</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4888&#31;reute
b f BC-OECD-SEES-GERMAN-GROW   06-18 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>OECD SEES GERMAN GROWTH HIT BY LOW DOMESTIC DEMAND</TITLE>
<DATELINE>    PARIS, June 19 - </DATELINE><BODY>West German economic growth will slow to
1.5 pct this year from 2.4 pct in 1986 due to weak domestic
demand and tougher competition from abroad, the Organisation
for Economic Cooperation and Development (OECD) said in its
semi-annual review of the world economy.
    This view is less favourable than the West German
government's forecast of a growth rate of under two pct this
year, but is in line with forecasts by independent economic
institutes of growth ranging from 1.5 to two pct.
    The OECD said that the economy should pick up next year,
with the gross national product rising by two pct in real
terms.
    The OECD said it assumed the German economy was passing
through a period of temporary weakness and there would be some
recovery in business confidence in the near future.
    But it warned that the key to an improvement in the economy
was higher domestic demand, which is only forecast to rise by
2.5 pct this year and 2.75 pct in 1988, below 1986's 3.7 pct.
    While noting that the government is bringing forward a five
billion mark tax reform to January 1988, the OECD said that "the
medium to longer-term performance of the West German economy
could be improved by reduction of subsidies - which would allow
relatively lower tax rates."
    Since the OECD report was compiled, the West German Federal
Statistics Office has released figures showing that the GNP
actually fell 0.5 pct in real terms in the first quarter of
this year compared with the final three months of 1986.
    Diplomatic sources here said that West Germany appeared
likely to finish the year with the lowest growth rate of any of
the Group of Seven leading industrial nations.
    West Germany's current account surplus, the target of
considerable criticism by the Reagan administration, is
expected to rise slightly to 37 billion dlrs this year from
35.8 billion in 1986, before declining to 29 billion dlrs in
1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6822" NEWID="18986">
<DATE>18-JUN-1987 18:15:56.71</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4889&#31;reute
r f BC-TVX   06-18 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTMENT FIRM RAISES TVX &lt;TVXG.O> STAKE</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>WEDGE Group Inc, a Houston investment
firm, said it raised its stake in TVX Broadcast Group Inc to
682,419 shares, or 15.1 pct of the total outstanding common
stock, from 559,219 shares, or 12.4 pct.
    In a filing with the Securities and Exchange Commission,
WEDGE said it bought 123,200 TVX common shares at prices
ranging from 8.00 to 10.625 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6823" NEWID="18987">
<DATE>18-JUN-1987 18:19:46.22</DATE>
<TOPICS><D>gnp</D><D>jobs</D><D>cpi</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4900&#31;reute
u f BC-HIGHER-GROWTH,-UNEMPL   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>HIGHER GROWTH, UNEMPLOYMENT IN FRANCE, OECD SAYS</TITLE>
<DATELINE>    PARIS, June 19 - </DATELINE><BODY>France's growth rate is expected to
strengthen in the second half of this year after a poor first
half, but unemployment will worsen, the Organisation for
Economic Cooperation and Development (OECD) said.
    In its semi-annual review of the world economy, the OECD
forecast that growth in the French Gross Domestic Product (GDP)
would run at about two pct in the next six months. It said the
rate would be in line with the 1986 trends, but significantly
higher than in the first half of this year.
    The OECD said France's economic situation has deteriorated
somewhat during the early months of 1987. 
    Activity has slowed, primarily reflecting an inventory
adjustment, while unemployment has risen rapidly and inflation
has reaccelerated, the OECD said. Unemployment is likely to
reach 12 pct of the workforce by the end of 1988.
    The report said inflation should slow and domestic demand
pick up in the second half of this year. But both data are
likely to be worse than those recorded in 1986, it added.
    The OECD forecast a 2.75 pct rise in consumer prices for
the second half of this year, a one pct drop from the first six
months. The slowdown would bring the inflation rate to 3.25 pct
for the whole year, sharply up from last year's 2.2 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6824" NEWID="18988">
<DATE>18-JUN-1987 18:21:59.23</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4908&#31;reute
d f BC-NASH-FINCH   06-18 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>GROUP RAISES NASH FINCH &lt;NAFC.O> STAKE</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>A group including members of the
Sobey family of Nova Scotia and Empire Company Ltd, said it
raised its stake in Nash Finch Co to 442,498 shares, or 8.6 pct
of the total outstanding, from 374,498 shares, or 7.3 pct.
    In a filing with the Securities and Exchange Commission,
the group said it bought 68,000 Nash Finch common shares
between April 7 and June 17.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6825" NEWID="18989">
<DATE>18-JUN-1987 18:23:25.78</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4910&#31;reute
f f BC-REVLON-SAYS-IT   06-18 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REVLON SAYS IT REQUESTS NEW CONSENT AGREEMENT FROM
GILLETTE

</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6826" NEWID="18990">
<DATE>18-JUN-1987 18:26:17.38</DATE>
<TOPICS><D>gnp</D><D>jobs</D></TOPICS>
<PLACES><D>italy</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4915&#31;reute
u f BC-ITALIAN-ECONOMIC-OUTL   06-18 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN ECONOMIC OUTLOOK LESS BRIGHT, OECD SAYS</TITLE>
<DATELINE>    PARIS, June 19 - </DATELINE><BODY>Italy's economic outlook for 1987 and 1988
is likely to be less favourable than last year with slightly
lower growth, higher unemployment and an increased trade
deficit, the Organisation for Economic Cooperation and
Development (OECD) said.
    But the OECD, in its half-yearly report, forecast a
slightly lower inflation rate over the next two years. Last
year Italy ranked as one of the OECD's fastest growing
economies with Gross Domestic Product (GDP) growth at 2.7 pct.
    The OECD said Italy's GDP may grow by three pct in 1987,
but will then fall back to 2.5 pct in 1988.
    The inflation rate will probably stabilise at around five
pct during the projection period as a result of a turnaround in
import prices, particularly oil, an acceleration in labour
costs and the effects of domestic demand pressure, the report
said.
    This year, and to a lesser degree in 1988, domestic demand
should be stimulated by buoyant growth in household consumption
made possible by wage increases following pay negotiations.
    Domestic demand pressure, coupled with the deterioration in
Italian competitiveness, is likely to stimulate imports and
adversely affect exports in 1987 and 1988. This could result in
a sharp negative contribution to the currrent account.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6827" NEWID="18991">
<DATE>18-JUN-1987 18:29:23.83</DATE>
<TOPICS><D>trade</D><D>bop</D><D>gnp</D></TOPICS>
<PLACES><D>france</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F 
&#22;&#22;&#1;f4923&#31;reute
r f BC-JAPAN-TRADE-SURPLUS-W   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TRADE SURPLUS WILL GROW AGAIN IN 1987, OECD</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>Japan's trade surplus is likely to
continue to grow in 1987, as sales of Japanese goods abroad
increase while domestic demand remains sluggish, the
Organization for Economic Cooperation and Development (OECD)
said.
    In its latest half-yearly review of the world economy, the
OECD said Japan managed to considerably reduce its surplus last
year, when domestic demand grew by four pct in 1986 while
export markets rose by only two pct.
    But it said this differential between the growth of
domestic and foreign demand would reverse in 1987 and 1988,
"thus weakening the international adjustment process."
    It forecast a slowing in domestic growth to little over two
pct but with a rise in exports of 3.3 pct in 1987 and 3.6 pct
in 1988. As a result, the current account surplus in 1987 will
rise to 95 billion dlrs from 86 billion in 1986, although in
1988 it should fall back to 87 billion dlrs.
    The OECD outlook did not take account of the 6,000 billion
yen package announced last month to stimulate domestic demand
and increase imports to Japan. However, OECD officials said the
measures will significantly strengthen domestic demand, quite
possibly exceeding one pct GNP when the full effects have
worked through, and thus will provide some stimulus to imports.
    The OECD outlook said, "Continued large current account
surpluses and the further build-up of an already-substantial
net external asset position could well lead to upward pressure
on the yen." It said that further appreciation could then lead
manufacturers to postpone their investment plans and thus
weaken domestic growth.
    The OECD said Japan's Gross National Product was likely to
gorw an annual two pct in 1987 and 1988, below 1986's 2.5 pct
growth. But it said Japan would continue its good performance
on inflation, with a zero figure expected in 1987 compared to a
0.6 pct rise in consumer prices last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6828" NEWID="18992">
<DATE>18-JUN-1987 18:29:49.57</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C 
&#22;&#22;&#1;f4926&#31;reute
d f AM-TRADE   06-18 0130</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S.-CANADA TIES SEEN WORSE WITHOUT TRADE PACT</TITLE>
<DATELINE>    WASHINGTON, June 18 - </DATELINE><BODY>U.S.-Canadian ties could worsen if
the two nations are unable to reach a free trade pact,
according to a study published by two nonpartisan public policy
research groups.
    The Cato Institute of Washington and the Fraser Institute
of Vancouver said removing the remaining tariffs on cross
border trade would benefit both countries.
    But Cato chairman William Niskanen added "the two nations'
generally harmonious trade relations are probably not
sustainable without a new agreement."
    The United States and Canada, whose cross-border trade
totaled about 125 billion dlrs last year, have been holding
talks since last June on a pact to end the few trade barriers
remaining between their two countries.
    The U.S. put a deadline on the talks of October 1, but both
sides have said an agreement is likely despite tough bargaining
remained.
    Niskanen said if no pact is reached, bilateral trade ties
could deteriorate because of Congressional pressure on
President Reagan to implement trade laws more aggressively, and
this could hit some Canadian trade practices.
    He noted Canada is seeking foreign investment in its auto
industry, which could put strains on the considerable bilateral
free trade in U.S. and Canadian autos and parts.
    Niskanen also said the Canadian government is vulnerable to
a resurgence of economic nationalism which could restrict U.S.
exports to Canada.
    A free trade pact, backed by President Reagan and Prime
Minister Brian Mulroney, would open new markets for Canada and
enable its industries to achieve economies of scale, which
would also help it widen exports worldwide, he said.
    It would also increase the gross national products of both
countries.
    Niskanen said the goal of a pact should be to end all
tariffs within 10 years, lower subsidies on exports, set rules
for trade in services and investments, end curbs on government
procurement and agree ways to resolve trade disputes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6829" NEWID="18993">
<DATE>18-JUN-1987 18:30:53.23</DATE>
<TOPICS><D>gnp</D><D>jobs</D><D>cpi</D></TOPICS>
<PLACES><D>france</D><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4933&#31;reute
u f BC-ECONOMIC-GROWTH-SEEN   06-18 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC GROWTH SEEN SLUGGISH IN BENELUX COUNTRIES</TITLE>
<DATELINE>    PARIS, June 19 - </DATELINE><BODY>Economic growth will remain sluggish in
the Netherlands and Belgium next year and unemployment may
rise, the Organisation for Economic Cooperation and Development
forecast.
    Belgium's GDP growth may slow down to 1.5 pct this year and
next year, bringing a rise in the number of jobless, the OECD
said in its semi-annual survey. Belgian inflation could
stabilise at 1.5 to 2.0 pct, while the current account surplus
will probably remain large at about three pct of GDP.
    While the Belgian government has made progress in trimming
its borrowing requirement, "it will probably be insufficient to
check the self-sustaining nature of the deficit," the OECD said.
    In the Netherlands real GDP growth will also slip to 1.5
pct this year and one pct in 1988, with Dutch exports becoming
less competitive and imports rising. "Employment is forecast to
decelerate as well, reflecting more sluggish growth in the
private sector and budgetary cuts," the report said.
    Dutch consumer prices are set to fall by 0.5 pct in 1987
and stay stable in 1988, partly as a result of declining
domestic gas prices.
    Luxembourg's economy, by contrast, will see slightly faster
growth in GDP this year as a result of an upward movement in
wages. But real growth in consumption will ease next year.
REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6830" NEWID="18994">
<DATE>18-JUN-1987 18:31:56.82</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>france</D><D>turkey</D><D>spain</D><D>greece</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4936&#31;reute
u f BC-SOUTHERN-EUROPE-HAS-S   06-18 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHERN EUROPE HAS STRONG DOMESTIC DEMAND GROWTH</TITLE>
<DATELINE>    PARIS, June 19 - </DATELINE><BODY>Strong growth in domestic demand was a key
feature of the economies of southern European countries in
1986, though the growth is seen slowing this year and next, the
Organisation for Economic Cooperation and Development said.
    In its semi-annual report, the OECD said Portugal's total
domestic demand growth would decline from 7.6 pct last year to
five pct in 1987 and 3.75 pct in 1988 as slower wage growth
restrained private consumption.
    Turkey's economy grew much faster than expected in 1986 and
domestic demand surged 10.5 pct, but this growth was expected
to be halved to five pct next year.
    In Spain, buoyant domestic demand, led by fixed investment,
had been the driving force behind rapid growth in Gross
Domestic Product. Both fixed investment and private consumption
were expected to ease during 1988 but would still remain
strong.
    The OECD forecast that Spanish imports would rise sharply
next year, reflecting strong demand, entry to the European
Community and declining competitiveness.
    In Greece, inflation was forecast to turn downwards
following an increase early this year linked with the
introduction of Value Added Tax and a surge in food prices due
to cold weather.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6831" NEWID="18995">
<DATE>18-JUN-1987 18:33:11.14</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>france</D><D>sweden</D><D>denmark</D><D>norway</D><D>iceland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM 
&#22;&#22;&#1;f4941&#31;reute
u f BC-OECD-SAYS-HIGH-WAGE-D   06-18 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>OECD SAYS HIGH WAGE DEALS HARMING NORDIC STATES</TITLE>
<DATELINE>    PARIS, June 19 - </DATELINE><BODY>High wage settlements in Nordic countries
threaten to cut exports and reduce the international
competitiveness of their industries, the Organisation for
Economic Cooperation and Development (OECD) said.
    In Denmark, the OECD said wage settlements concluded in
early 1987 were likely to contribute to a marked deterioration
in competitiveness. Sweden's competitive position was also seen
at risk from accelerating wages.
    The OECD predicted that domestic demand would come under
pressure from tight fiscal policy in Denmark, as well as
Norway, Sweden and Finland.
    Overall economic growth will vary in the different
countries between 1986 and 1988, the OECD semi-annual report
said.
    After a strong rise of 7.8 pct in 1986, total domestic
demand in Norway was seen falling by 1.5 pct in 1987 and one
pct the following year. Denmark was also expected to see a
slump in domestic demand. The report said growth in Gross
Domestic Product (GDP) was likely to speed up slightly in
Sweden and Finland in 1987 and 1988, while declining in Denmark
and Norway.
    Iceland needs to try harder to implement its new economic
strategy if any more progress is to be made towards sustained
and balanced non-inflationary growth, the OECD said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6832" NEWID="18996">
<DATE>18-JUN-1987 18:34:28.71</DATE>
<TOPICS><D>gnp</D><D>jobs</D><D>bop</D></TOPICS>
<PLACES><D>usa</D><D>france</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F 
&#22;&#22;&#1;f4946&#31;reute
r f BC-OECD-URGES-ACTION-TO   06-18 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>OECD URGES ACTION TO CUT U.S. BUDGET DEFICIT</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>The United States should take urgent
action to cut its crippling budget deficit, including possible
reductions in non-defense spending, higher taxes and curbs on
growth of the defense budget, the Organization for Economic
Cooperation and Development said.
    The OECD, in its semi-annual review of the world economy,
said a failure of the Reagan Administration and Congress
quickly to agree on measures to cut the deficit "could seriously
affect confidence, both in the United States and elsewhere."
    It predicted that the federal deficit in fiscal 1987,
running until September 30 this year, would substantially
overshoot both the Balanced Budget Act's target of 144 billion
dlrs and official U.S. Estimates in February of 175 billion.
    "The OECD projection, which is based on assumptions of
slower growth, higher interest rates and actual data for the
first half of the financial year, is for a deficit of about 190
billion dollars," it said.
    While this would be 30 billion lower than last year's
deficit, much of the improvement would be due to corporate tax
increases being introduced before income tax cuts take effect.
    The U.S. Economic growth rate is expected to edge up to
2.75 pct next year from 2.5 pct this year and last.
    In contrast to the last two years, more competitive exports
boosted by the fall in the dollar should help GNP growth.
    Unemployment should continue to fall slowly as the service
sector continues to create jobs. But inflation appears to be
heading higher, partly due to the lower dollar, with consumer
prices forecast to rise four pct this year and 4.5 pct next
year after just 2.1 pct in 1986.
    "Monetary and fiscal policy appear to be the key factors
behind the avoidance of recession," the report said.
    The current account balance of payments deficit is expected
to be still around a high 125 billion dlrs next year, after
hitting a projected record 147.25 billion this year, it said.
    In Canada economic growth is expected to pick up slightly
to around 2.75 pct in 1988 from 2.5 pct this year, but will
still be below levels seen in recent years. Inflation is
expected to slow to 3.5 pct next year from 3.75 pct this year,
unemployment should edge down to nine pct in 1988 from 9.25 pct
this year.
    Canada's current account deficit is projected to shrink to
around four billion U.S. Dlrs this year and to remain at about
that level in 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6833" NEWID="18997">
<DATE>18-JUN-1987 18:39:37.55</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;f4957&#31;reute
r f BC-MARK'S-WORK-WEARHOUSE   06-18 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>MARK'S WORK WEARHOUSE &lt;(MWW.TO> 1ST QTR LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, June 18 - </DATELINE><BODY>Period ended May 2
    Shr loss four cts vs loss three cts
    Net loss 397,000 vs loss 330,000
    Revs 32.1 mln vs 30.4 mln
    Note: Full name Mark's Work Wearhouse Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6834" NEWID="18998">
<DATE>18-JUN-1987 18:40:19.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4958&#31;reute
r f BC-PLAYBOY-&lt;PLA>-GETS-LI   06-18 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>PLAYBOY &lt;PLA> GETS LICENSING PACT IN INDIA</TITLE>
<DATELINE>    CHICAGO, June 18 - </DATELINE><BODY>Playboy Enterprises Inc said its Playboy
Licensing unit has entered into an agreement with Fashionport
Private Ltd of India to market Playboy and Playmate fashions
and accessories in India, the Middle East and several Eastern
bloc countries.
    Fashionport will produce men's and women's apparel, leather
garments, footwear, small leather goods and accessories, it
said.
    Fashionport is based in Bombay, India. No other details
were available.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6835" NEWID="18999">
<DATE>18-JUN-1987 18:42:54.95</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F 
&#22;&#22;&#1;f4962&#31;reute
f f BC-REVLON-SAYS-IT   06-18 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REVLON SAYS IT IS WILLING TO WAIVE PRICE PROTECTION
PROMPTLY UNDER CERTAIN CONDITIONS
</TITLE>&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6836" NEWID="19000">
<DATE>18-JUN-1987 18:45:02.67</DATE>
<TOPICS><D>gnp</D><D>jobs</D><D>cpi</D></TOPICS>
<PLACES><D>france</D><D>japan</D><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F Y 
&#22;&#22;&#1;f4964&#31;reute
u f BC-JOINT-ACTION-IS-VITAL   06-18 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>JOINT ACTION SAID VITAL TO BOOST WORLD GROWTH</TITLE>
<DATELINE>    PARIS, June 18 - </DATELINE><BODY>Prospects for world economic growth remain
very sluggish, and coordinated action by western governments is
urgently needed to restore business confidence, stabilize
currencies and encourage investment, the Organization for
Economic Cooperation and Development (OECD) said here.
    "The economic situation has deteriorated in recent months,
and ... Slow growth, high unemployment and large payments
imbalances are likely to persist," it said in one of its
gloomiest reviews of the world economy in recent years.
    The gross national product (GNP) of the 24-nation bloc of
western industrialised countries is forecast to grow by only
2.25 pct both this year and next, even slower than last year's
2.5 pct growth rate.
    "We would like to see the aggregate for the OECD area
comfortably exceeding three pct," David Henderson, head of the
OECD's economics and statistics department, said.
    The OECD said that the dollar fall had led to rising
inflation expectations and higher interest rates in the U.S.,
Combining with world trade imbalances and the huge third world
debt problem to increase the risks of a world economic
downturn.
    "At the same time, many of the conditions for faster growth
remain favorable," it said, citing low inflation in most major
countries, healthy corporate finances, generally lower interest
rates, improvements in state budget positions and more flexible
labor markets.
    But private sector confidence had been undermined by
uncertainties over exchange rates, it said, and warned that "for
confidence to be restored, it is important for governments
swiftly to implement internationally-agreed commitments."
    This was a clear reference to last February's Louvre accord
of the Group of Five nations plus Canada, analysts said.
    The OECD said that apparent disagreements among major
countries on implementation of the Louvre accord had helped to
undermine business confidence, and called on more active fiscal
policies from the U.S., West Germany and Japan to slow demand
in the U.S. And raise it in the other two countries.
    Henderson said the 6,000 billion yen package announced
recently by the Japanese government to encourage public works
and cut taxes would make a significant contribution to this
process, though it was too early to estimate its precise
impact.
    He said the measures will help strengthen Japan's domestic
demand significantly, quite possibly exceeding one pct of GNP.
    The inflation outlook, while broadly satisfactory, has
worsened in recent months, with OECD consumer prices forecast
to rise 3.5 pct this year and 3.75 pct in 1988 after a 2.8 pct
increase in 1986.
    There is no prospect for any significant improvement in the
unemployment situation over the next 18 months, with the
average rate expected to stabilize at 8.25 pct, similar to last
year.
    The OECD called for efforts to liberalize world
agricultural markets through switching farm subsidies away from
price guarantees and other measures linked to production
towards direct income support for farmers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
