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<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14522" NEWID="9001">
<DATE>24-MAR-1987 15:59:17.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2412&#31;reute
u f BC-ADVANCED-MAGNETICS-&lt;A   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>ADVANCED MAGNETICS &lt;ADMG> IN AGREEMENT</TITLE>
<DATELINE>    CAMBRIDGE, Mass., March 24 - </DATELINE><BODY>Advanced Magnetics Inc said it
reached a four mln dlrs research and development agreement with
ML TEchnolgy Ventures LP, a limited partnership sponsored by
Merrill LYnch Capital Markets.
    Under the agreement, Advanced Magnetics will develop and
conducts clinical trials of its contrast agents for magnetic
resonance imaging.
    The agreement includes a warrant permitting MLTV to buy up
to 380,000 shares of Advanced Magnetics common stock through
February 1994 at 10.50 dlrs per sahre.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14523" NEWID="9002">
<DATE>24-MAR-1987 15:59:39.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2414&#31;reute
d f BC-HEALTH-RESEARCH-FILES   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTH RESEARCH FILES FOR BANKRUPTCY</TITLE>
<DATELINE>    MINNEAPOLIS, Minn., March 24 - </DATELINE><BODY>&lt;Health Research and
Management Group> said it has filed for protection under
Chapter 11 of the federal bankruptcy law.
    The company said it filed the petitions to reorganize debt
and eliminate contingent liabilities it incurred while
attempting to expand nationally.
    Health Research also said it owes about 750,000 dlrs of its
1.1 mln dlrs in debt to &lt;MedPro Group Inc>, a former jont
venture partner.
    The company added it has asked the Minnesota Department of
Commerce to suspend trading of its common stock pending
dissemination of current financial information.
    Also, the company said George Frisch has been elected
chairman of the board, president and chief executive officer,
replacing Daniel Zismer, who resigned as chairman of the board
and  O. Frederick Kiel, who resigned as president and chief
executive officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14524" NEWID="9003">
<DATE>24-MAR-1987 16:00:01.29</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;f2415&#31;reute
h f BC-NUMEREX-CORP-&lt;NMRX>-2   03-24 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>NUMEREX CORP &lt;NMRX> 2ND QTR JAN 31 LOSS</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., March 24 - 
    </DATELINE><BODY>Shr loss seven cts vs profit five cts
    Net loss 149,421 vs profit 103,120
    Sales 1,698,345 vs 1,920,010
    Six Mths
    Shr loss five cts vs profit nine cts
    Net loss 100,472 vs profit 191,614
    Sales 3,836,794 vs 3,650,322
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14525" NEWID="9004">
<DATE>24-MAR-1987 16:01:25.88</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2419&#31;reute
f f BC-******U.S.-SELLING-12   03-24 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SELLING 12.8 BILLION DLRS OF 3 AND 6-MO BILLS MARCH 30 TO PAY DOWN 1.2 BILLION DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14526" NEWID="9005">
<DATE>24-MAR-1987 16:02:17.95</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2423&#31;reute
f f BC-******U.S.-2-YEAR-NOT   03-24 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. 2-YEAR NOTE AVERAGE YIELD 6.43 PCT, STOP 6.44 PCT, AWARDED AT HIGH YIELD 85 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14527" NEWID="9006">
<DATE>24-MAR-1987 16:03:55.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2426&#31;reute
u f BC-COMMODORE-&lt;CBU>,-ATAR   03-24 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMODORE &lt;CBU>, ATARI IN SETTLEMENT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Commodore International Ltd said it
settled and discontinued all pending litigation with Atari
Corp.
    The company issued a statement which said the case had been
settled on terms satisfactory to both sides.
    Company officials were not immediately available for
comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14528" NEWID="9007">
<DATE>24-MAR-1987 16:04:42.31</DATE>
<TOPICS><D>trade</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D><D>taiwan</D><D>japan</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2428&#31;reute
b f BC-/BALDRIGE-SUPPORTS-NI   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE SUPPORTS NIC TALKS ON CURRENCIES</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Commerce Secretary Malcolm Baldrige
said he supported efforts to persuade newly-industrialized
countries (NICS) to revalue currencies that are tied to the
dollar in order to help the United States cut its massive trade
deficit.
    "We do need to do something with those currencies or we
will be substituting Japanese products for Taiwanese products,"
or those of other nations with currencies tied to the dollar,
Baldrige told a House banking subcommittee.
    The U.S. dollar has declined in value against the Yen and
European currencies, but has changed very little against the
currencies of some developing countries such as South Korea and
Taiwan because they are linked to the value of the dollar.
    As a result, efforts to reduce the value of the dollar over
the past year and a half have done little to improve the trade
deficits with those countries.
    Baldrige told a House Banking subcommittee that the
Treasury Department was attempting to persuade those countries
to reach agreement with the United States on exchange rates.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14529" NEWID="9008">
<DATE>24-MAR-1987 16:05:14.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2431&#31;reute
u f BC-TRIANGLE-&lt;TRI>-BEGINS   03-24 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>TRIANGLE &lt;TRI> BEGINS EXCHANGE OFFER</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Triangle Industries Inc said it began
a previously announced offer to exchange one share of Triangle
common stock for each share of participating preferred stock.
    The offer will expire April 21.
    Triangle said that sales in 1987 will exceed four billion
dlrs.
    For the year ended December 31, 1986, Triangle reported
sales of 2.7 billion dlrs and net income of 47.6 mln dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14530" NEWID="9009">
<DATE>24-MAR-1987 16:05:42.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2435&#31;reute
r f BC-SOUTHMARK-&lt;SM>-UNIT-I   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHMARK &lt;SM> UNIT IN PUBLIC OFFERING OF STOCK</TITLE>
<DATELINE>    DALLAS, March 24 - </DATELINE><BODY>Southmark Corp's National Heritage Inc
said it has started the initial public offering of 2,000,000
shares of common stock at 9.50 dlrs per share.
    It said all shares are being traded though  NASDAQ under
the symbol &lt;NHER>.
    The lead underwriter for the offering is Drexel Burnham
Lambert Inc, with Bear, Stearns and Co Inc., and E.F. Hutton
and Co Inc acting as co-underwriters, the company said.
    Proceeds will be used to augment working capital, complete
scheduled renovations at some National Heritage leased
facilities and repay certain debts to Southmark, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14531" NEWID="9010">
<DATE>24-MAR-1987 16:06:25.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2438&#31;reute
f f BC-******EASTMAN-KODAK-C   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EASTMAN KODAK CO TO SELL HOLDINGS IN ICN PHARMACEUTICALS AND VIRATEK INC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14532" NEWID="9011">
<DATE>24-MAR-1987 16:07:44.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2442&#31;reute
r f BC-FEUD-PERSISTS-AT-U.S.   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>FEUD PERSISTS AT U.S. HOUSE BUDGET COMMITTTEE</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>A feud among Democrats and
Republicans persisted at the House Budget Committee, stalling
the writing of a fiscal 1988 U.S. budget plan.
    Republicans failed to appear at a drafting session called
by Democratic committee chairman William Gray as a make-up
meeting to end bickering that has delayed budget activity  for
a week and threatens the ability of Congress meeting an April
15 deadline for completing the deficit-cutting budget.
    Republicans told Gray yesterday they would appear today and
participate if the meeting was held behind closed doors.

    He said the Republicans were prepared to make a "good faith"
effort to cooperate if the budget deliberations were held
behind closed doors and not in public as is the normal
procedure.
    However, they failed to appear today and Gray said he had
been told they wanted House Speaker Jim Wright to answer a
series of budget questions posed by House Republican leader Bob
Michel before they would cooperate in budget matters.
     The budget feuding led the Washington Post today to
editorialize that it was childish, similar to an eraser fight
among fourth grade students.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14533" NEWID="9012">
<DATE>24-MAR-1987 16:07:51.39</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2443&#31;reute
u f BC-TREASURY-BALANCES-AT   03-24 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY BALANCES AT FED ROSE ON MARCH 23</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Treasury balances at the Federal
Reserve rose on March 23 to 3.332 billion dlrs from 3.062
billion dlrs on the previous business day, the Treasury said in
its latest budget statement.
    Balances in tax and loan note accounts fell to 15.513
billion dlrs from 17.257 billion dlrs on the same respective
days.
    The Treasury's operating cash balance totaled 18.845
billion dlrs on March 23 compared with 20.318 billion dlrs on
March 20.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14534" NEWID="9013">
<DATE>24-MAR-1987 16:08:11.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2444&#31;reute
r f BC-FARM-CREDIT-SYSTEM-SE   03-24 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM CREDIT SYSTEM SEEN NEEDING 800 MLN DLRS AID</TITLE>
<DATELINE>    WASHINGTON, MARCH 24 - </DATELINE><BODY>A member of the board which
regulates the farm credit system said Congress should plan to
provide at least 800 mln dlrs in fiscal 1988 to bailout the
troubled system, but other members of the board differed.
    Jim Billington, Farm Credit Administration (FCA) board
member told a House Agriculture Appropriations subcommittee
hearing "I feel your subcommittee should plan on providing at
least 800 mln next year to assist the Farm Credit System."
    However, FCA board member Marvin Duncan differed, saying
"it is premature to talk about the cost of a solution until we
know what kind of solution."
    Chairman of the FCA board, Frank Naylor, said it might be
possible to structure a rescue of the system with government
guarantees or a line of credit which requires little or no
upfront government money.
    However, Billington said Congress must provide help
immediately because "this system needs some assurance that it
will get some help."
    The FCA estimates the system could lose up to 1.4 billion
dlrs in 1987, exhausting the remainder of its working capital,
Naylor said.
    The farm credit system is expected to present its own
proposals for government aid to a Senate Agriculture
subcommittee hearing on Thursday.
    Naylor said the Treasury Department is continuing to refine
Reagan administration ideas on how a rescue should be
structured.
    Congressional sources said they hope to begin drafting a
rescue bill for the farm credit system as early as next week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14535" NEWID="9014">
<DATE>24-MAR-1987 16:09:09.08</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;f2445&#31;reute
u f BC-USX-&lt;X>-USS-UNIT-RAIS   03-24 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> USS UNIT RAISES PRICES</TITLE>
<DATELINE>    LORAIN, Ohio, March 24 - </DATELINE><BODY>USX Corp's USS subsidiary said
that effective with shipments beginning July 1 prices for all
leaded grades and 1200-series grades of hot rolled bar and
semi-finished products from its Lorain, Ohio, facility will be
increased by 15 dlrs a ton over the prices in effect June 1.
    It said the increase is being made to reflect current
market conditions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14536" NEWID="9015">
<DATE>24-MAR-1987 16:10:06.45</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2447&#31;reute
d f BC-UNIONIST-URGES-RETALI   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>UNIONIST URGES RETALIATION AGAINST JAPAN</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>William Bywater, president of the
International Union of Electronic Workers, called on President
Reagan to retaliate against Japan for unfair practices in
semiconductor trade.
    He said in a statement a crash program was needed in the
semiconductor industry to prevent the United States from
becoming "one of the world's industrial lightweights."
    Bywater's remarks came as the White House Economic Policy
Council prepared for a Thursday meeting to decide what
sanctions if any should be taken against Japan for alleged 
violations of a U.S.-Japanese semiconductors agreement.
    The pact, agreed to last July, called for Tokyo to end
selling semiconductors at below cost and to open its home
market to U.S. goods. In return, Washington agreed to forego
antidumping duties on Japanese semiconductors.
    But U.S. officials have said that while Japan has stopped
dumping in the U.S. market, it has not ended third country
dumping; nor has it opened its market to U.S. semiconductors.
    Japan yesterday, in an effort to ward off U.S. action,
ordered a cutback in semiconductors production as a way to
force prices up and end the dumping.
    Bywater, in his statement, said he backed a Defense Science
Board task force proposal to set up a consortium to develop new
electronic products and manufacturing processes and make the
U.S. industory more competitive.
    But he added the industry could not wait for legislation to
pass and that action was required now to help the depressed
electronic industry.
    Bywater said, "I urge the Reagan Administration to take full
and severe action immediately against Japan by invoking the
retaliatory steps that are permitted under U.S. law and GATT
(General Agreement on Tariffs and Trade)."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14537" NEWID="9016">
<DATE>24-MAR-1987 16:12:10.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2454&#31;reute
u f BC-EXXON-(XON)-GETS-99.2   03-24 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>EXXON (XON) GETS 99.2 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Exxon Co USA of Houston has been
awarded a 99.2 mln dlr contract for jet fuel, the Defense
Logistics Agency said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14538" NEWID="9017">
<DATE>24-MAR-1987 16:12:45.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2456&#31;reute
u f BC-EATON-(ETN)-GETS-53.0   03-24 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>EATON (ETN) GETS 53.0 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Eaton Corp's AIL Division has
received a 53.0 mln dlr contract for jamming system work for
the EA-6B electronic warfare aircraft, the Navy said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14539" NEWID="9018">
<DATE>24-MAR-1987 16:12:53.77</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>usa</D><D>zaire</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2457&#31;reute
u f BC-ZAIRE-AUTHORIZED-TO-B   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>ZAIRE AUTHORIZED TO BUY PL 480 RICE - USDA</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Zaire has been authorized to
purchase about 30,000 tonnes of U.S. rice under an existing PL
480 agreement, the U.S. Agriculture Department said.
    It may buy the rice, valued at 5.5 mln dlrs, between March
31 and August 31, 1987, and ship it from U.S. ports by
September 30, the department said.
    The purchase authorization covers the entire quantity of
rice provided under the agreement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14540" NEWID="9019">
<DATE>24-MAR-1987 16:13:26.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2459&#31;reute
u f BC-MCDONNELL-DOUGLAS-GET   03-24 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>MCDONNELL DOUGLAS GETS 30.6 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>McDonnell Douglas Corp (MD) has
received a 30.6 mln dlr contract for work on development of the
standoff land attack missile (SLAM), the Navy said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14541" NEWID="9020">
<DATE>24-MAR-1987 16:15:17.01</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;f2463&#31;reute
r f BC-MIDIVEST-ACQUIRES-ASS   03-24 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDIVEST ACQUIRES ASSETS OF BUSINESS AVIATION</TITLE>
<DATELINE>    ROANOKE, Va., March 24 - </DATELINE><BODY>&lt;Midivest Inc> said it acquired
all the assets of &lt;Business Aviation Inc> of Sioux Falls, S.D.,
for an undisclosed amount of stock.
    Midivest said it expects to sell 10 to 20 of the renovated
Beechcraft planes next year. It said management will also lease
these airborne intensive care units to hospitals and government
subdivisions through Metropolitan Leasing, a wholly-owned
subsidiary of Midivest.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14542" NEWID="9021">
<DATE>24-MAR-1987 16:15:59.31</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>jordan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2464&#31;reute
u f BC-U.S.-WHEAT-CREDITS-FO   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WHEAT CREDITS FOR JORDAN SWITCHED</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The Commodity Credit Corporation
(CCC) has switched 25.0 mln dlrs in wheat credit guarantees to
Jordan under the Export Credit Guarantee Program to the
Intermediate Export Credit Guarantee Program, the U.S.
Agriculture Department said.
    The switch reduces the total value of GSM-102 guarantees
for the current fiscal year to 30.0 mln dlrs.
    The credit terms extended for export sales under the
Intermediate Export Credit Guarantee Program (GSM-103) must be
in excess of three years but not more than seven years.
    All sales must be registered and exports completed by
September 30, 1987, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14543" NEWID="9022">
<DATE>24-MAR-1987 16:17:44.35</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2474&#31;reute
r f BC-DOLLAR-EXPECTED-TO-FA   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>DOLLAR EXPECTED TO FALL DESPITE INTERVENTION</TITLE>
<AUTHOR>    By Claire Miller, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Central bank intervention in the
foreign exchange markets succeeded in staunching the dollar's
losses today, but senior dealers here believe the U.S. currency
is headed for a further retreat.
    Although the intervention was widespread, dealers perceive
that the six major industrial nations have differing levels of
commitment to their recent accord to stabilize currencies.
    Moreover, hard economic realities hold greater sway over
the currency market than central bank intervention and these
argue for a further dollar decline, dealers said.
    "The market can be bigger than the central banks. And
economic fundamentals will always come to the fore," said a
dealer at one major U.S. bank.
    As the dollar dropped to post-World War II lows against the
yen today foreign exchange traders said the Bank of Japan,
Federal Reserve Board and Bank of England intervened in the
markets on behalf of the U.S. currency.
    Reports of the authorities' actions helped the dollar
recover to about 149.45 yen in New York this afternoon from
the post-war low of 148.20 yen in the Far East. But it still
failed to regain Monday's U.S. closing level of 150.00/05 yen.
    Tokyo dealers said the Bank of Japan bought one to 1.5
billion dlrs in Tokyo today and may also have purchased dollars
yesterday in the U.S. via the Federal Reserve.
    Meanwhile, there were strong rumors in New York that the
Fed also bought a modest amount of dollars around 148.50 yen
today. Talk also circulated that the Bank of England purchased
a small amount of dollars for yen.
    The Fed's last confirmed intervention was on January 28
when it bought 50 mln dlrs in coordination with the Bank of
Japan. But on March 11 the Fed also was rumored to have
signalled displeasure with a dollar surge above 1.87 marks.
    The authorities' actions appeared to back up the February
22 Paris pact between the U.S., Japan, West Germany, Britain,
France and Canada under which the nations agreed to cooperate
to foster exchange rate stability around prevailing levels.
    But foreign exchange dealers were not overly impressed by
the authorities' intervention which they said can only soften
extreme moves in the market.
    For one thing, some dealers believed that the Fed's
purchases were done on behalf of the Bank of Japan rather than
for the U.S. central bank's own account, suggesting a rather  
watered-down American commitment to the currency accord.
    The Bank of England's action also was thought to be
completed on behalf of the Japanese central bank, reinforcing
the market's view that Japan is the most resolute of the six
nations in its support of the currency pact.
    "No-one doubts the Bank of Japan is serious. But the other
two central banks seem to be making more token gestures than
anything else," said Chris Bourdain of BankAmerica Corp.
    "I'm not convinced the intervention was concerted," said
Earl Johnson of Harris Trust and Savings Bank in Chicago. 
"It's a yen problem more than anything else."
    Some dealers said a rising wave of trade protectionist
sentiment in the U.S. limits the extent to which the American
authorities can endorse a stronger dollar against the yen.
    "The dollar's break below the key 150 yen level ties the
Treasury's hands behind its back. The U.S. cannot intervene on
its own account because of the strength of protectionism here,"
said Albert Soria of Swiss Bank Corp.
    Such comments reflect the view that the currency markets
are becoming increasingly politicized. Despite official
denials, some traders still feel the U.S. would countenance a
lower dollar to help trim the nation's trade deficit.
    The majority of the 170 billion dlr merchandise trade
deficit in 1986 was with Japan.
    Indeed U.S. Treasury secretary James Baker's comment on
Sunday that the February currency pact had not established
dollar targets was read by the market as a signal to sell the
U.S. currency and kicked off the latest retreat.
    "The dollar still has more room on the downside against the
yen based on the frictions in trade and financial services. The
currency market is becoming very political," said Natsuo Okada
of Sumitomo Bank Ltd.
    Okada expects the dollar to trade between 148 and 150 yen
this week but sees the chance of a drop to 140 yen by the end
of April or early May.
    Even if West Germany and Japan succeed in stimulating their
economies, it may not be enough to solve structural economic
imbalances in the near future, dealers said.
    "Even if Japan and West Germany do expand this year, it
won't be enough to help the trade situation much," said
Bourdain of BankAmerica, who also expects the dollar to drop to
148 yen in the next couple of days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14544" NEWID="9023">
<DATE>24-MAR-1987 16:17:58.20</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;f2475&#31;reute
u f BC-/U.S.-TO-SELL-12.8-BI   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TO SELL 12.8 BILLION DLRS IN BILLS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The U.S. Treasury said it will sell
12.8 billion dlrs of three and six-month bills at its regular
auction next week.
    The March 30 sale, to be evenly divided between the three
and six month issues, will result in a paydown of 1.2 billion
dlrs as maturing bills total 13.99 billion dlrs.
    The bills will be issued April 2.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14545" NEWID="9024">
<DATE>24-MAR-1987 16:22:32.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2482&#31;reute
r f BC-INLAND-STEEL-&lt;IAD>-TO   03-24 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>INLAND STEEL &lt;IAD> TO BUILD NEW PLANT IN INDIANA</TITLE>
<DATELINE>    SOUTH BEND, Ind., March 24 - </DATELINE><BODY>Inland Steel Industries and
Governor Robert Orr of Indiana said the new joint venture cold-
rolled steel plant between Inland Steel and Nippon Steel Corp
will be built on a site in St. Joseph County Indiana.
    Inland Steel said yesterday that the joint venture, to be
named I/N Tek, will cost more than 400 mln dlrs and will employ
over 200 people by the time the companies complete the project
in 1990.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14546" NEWID="9025">
<DATE>24-MAR-1987 16:22:41.79</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2483&#31;reute
b f BC-******EASTMAN-KODAK-C   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>EASTMAN KODAK &lt;EK> TO SELL HOLDINGS</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 24 - </DATELINE><BODY>Eastman Kodak Co said it plans
to sell its 2.3 pct holding in ICN Pharmaceuticals &lt;ICN> and
part of its nine pct holdings in Viratek &lt;VIRA>.
    It said the purpose of the investments had been to lay the
groundwork for the creation of its Nucleic Acid Research
Institute.
    Since that has been achieved, there is no longer any reason
to maintain the equity positions, Kodak said.
    Kodak holds 470,000 sahres of ICN, currently trading at
about 18-3/4 and 700,000 of Viratek, trading at 44.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14547" NEWID="9026">
<DATE>24-MAR-1987 16:23:12.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>boesky</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2485&#31;reute
u f BC-GUINNESS   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>GUINNESS SUES BOESKY IN FEDERAL COURT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>&lt;Guinness PLC> has joined investors
suing former Wall Street speculator Ivan Boesky, alleging it
was deceived into putting money into his one billion dlr
investment partnership in 1986.
    Guinness, the largest limited partner in Ivan F. Boeksy and
Co. L.P., is the latest to file suit in federal court in
Manhattan against Boesky, court papers show.
    About 40 other investors have also filed suit over similar
allegations, including that Boesky did not reveal his illegal
insider trading activities.
    Guinness is charging it was induced to join in the Boesky
partnership through a prospectus that contained "material untrue
statements and omissions."
    The suit also alleged that the Boesky Corporation, which
became a part in the formation of the investment partnership,
Ivan F. Boesky and Co., L.P., "had achieved its extraordinary
rates of return as a result of trading on inside information
and other violations of the securities laws."
    In addition, the suit charged that Boesky and other
defendants unlawfully "schemed with and provided substantial
assistance to one another to evade the registration provisions"
of securities law.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14548" NEWID="9027">
<DATE>24-MAR-1987 16:23:23.82</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;f2486&#31;reute
r f BC-FIRM-REDUCES-SCEPTRE   03-24 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRM REDUCES SCEPTRE RESOURCES &lt;SRL> HOLDINGS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Montreal-based Noverco Inc told the
Securities and Exchange Commission it reduced its stake in
Sceptre Resources Ltd to 1,232,200 shares or 4.8 pct of the
total outstanding.
    Noverco said it sold off 400,500 shares "to reduce the
investment of Noverco in Sceptre."
    "Additional common shares of Sceptre may be sold or
purchased by Noverco, depending upon market conditions," Noverco
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14549" NEWID="9028">
<DATE>24-MAR-1987 16:23:35.03</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2487&#31;reute
b f BC-******GENCORP-BOARD-W   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GENCORP BOARD WITHDRAWS PROPOSALS TO STAGGER DIRECTORS TERMS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14550" NEWID="9029">
<DATE>24-MAR-1987 16:26:21.04</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;f2496&#31;reute
d f BC-&lt;ACKLANDS-LTD>-1ST-QT   03-24 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ACKLANDS LTD> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    TORONTO, March 24 -
    </DATELINE><BODY>Shr three cts vs 11 cts
    Net 126,000 vs 434,000
    Revs 84.0 mln vs 80.2 mln
    Avg shrs 4,948,731 vs 3,870,511
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14551" NEWID="9030">
<DATE>24-MAR-1987 16:30:25.13</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;f2511&#31;reute
d f BC-BULL-AND-BEAR-GROUP-A   03-24 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>BULL AND BEAR GROUP A &lt;BNBGA> CUTS FUND PAYOUTS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Bull and Bear Group A said it lowered
its monthly dividends on three of its funds.
    It said it lowered its Tax Free Income Fund &lt;BLTFX> to 10.3
cts from 10.6 cts; its U.S. Government Guaranteed Securities
Fund &lt;BBUSX> to 11.5 cts from 11.8 cts; and its High Yield Fund
&lt;BULHX> to 14 cts from 14.2 cts.
    All dividends are payable March 31 to shareholders of
record March 25, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14552" NEWID="9031">
<DATE>24-MAR-1987 16:30:42.93</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;f2513&#31;reute
r f BC-CALTEX-TO-RAISE-BAHRA   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CALTEX TO RAISE BAHRAIN OIL PRODUCT PRICES</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Caltex Petroleum Corp said it will
raise
posted prices for naphtha and several grades of residual fuel
in Bahrain, effective March 25.
     Caltex, a joint venture of Chevron Corp &lt;CHV> and Texaco
INC &lt;TX>, said its naphtha posting is up four cts a gallon to
43 cts. It said it is raising its marine diesel oil posting by
30 cts a barrel to 20.24 dlrs a barrel.
    Light, medium, and heavy fuel oil postings are up 1.50 dlrs
a barrel, the company said. This will bring the light fuel oil
price to 16.90 dlrs, medium to 15.50 dlrs, and heavy to 14.60
dlrs, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14553" NEWID="9032">
<DATE>24-MAR-1987 16:31:01.12</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;f2515&#31;reute
u f BC-CHARTER-CO-&lt;QCHR>-TO   03-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CHARTER CO &lt;QCHR> TO COMPLETE REORGANIZATION</TITLE>
<DATELINE>    JACKSONVILLE, Fla., March 24 - </DATELINE><BODY>Charter Co, the huge
petrochemical concern in bankruptcy proceedings stemming from
hundreds of dioxin-related claims, said it and all of its
subsidiaries, except the Independent Petrochemical Corp, will
complete their reorganization on March 31.
    It said that on that date, it will deposit with an escrow
agent 288.8 mln dlrs in cash, 66.7 mln dlrs in notes and 31 mln
shares of its common for distribution.
    Company officials were not immediately available for
comment.
    As previously reported, Charter settled dioxin-related
claims for about 1,200 individuals and the state of Missouri,
resolving claims against it and all subsidiaries except
Independent Petrochemical.
    Charter said some of the settlements remain subject to
appeals and final court approvals and resolve claims against
charter and its subsidiaries except Independent Petrochemical.
    It said about 500 individual claims against it and certain
of its units remain pending as disputed claims in bankruptcy
court. It said about 300 of these claims have been filed since
confirmation of the joint plan of reorganization.
    Charter said its two creditors, an equity committee in its
bankruptcy proceedings and &lt;American Financial Corp>, which
will own 50.5 pct of its common after the reorganization, have
waived the requirement that Charter resolve all dioxin-related
claims against it prior to completing its reorganization.
    That requirement excludes claims against Independent
Petrochemical. Charter also said a plan for liquidation of
Independent has been approved by the bankruptcy court and will
be completed after March 31.
    Earlier, Charter reported net income for the year of 153.2
mln dlrs, which included a gain of 28.5 mln dlrs for
discontinued operations and 114.8 mln dlrs for the settlement
of claims in its reorganization proceedings.
    In 1985, it reported earnings of 1,274,000 dlrs, which
included a loss of 36.3 mln dlrs for discontinued operations
and 29.4 mln dlrs for extraordinary items.
    For the fourth quarter, it reported earnings of 118.8 mln
dlrs, including a gain of 28.6 mln dlrs for discontinued
operations and 90.5 mln dlrs mainly for claims settlements. In
the year-ago period, Charter reported a loss of 13 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14554" NEWID="9033">
<DATE>24-MAR-1987 16:32:07.68</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;f2518&#31;reute
r f BC-NASHUA-&lt;NSH>-TO-PURCH   03-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>NASHUA &lt;NSH> TO PURCHASE PRIVATE DISC MAKER</TITLE>
<DATELINE>    NASHUA, N.H., March 24 - </DATELINE><BODY>Nashua Corp said it signed a
letter of intent to purchase &lt;Lin Data Corp>, a private
manufacturer of high-capacity rigid discs for storage of
computer data.
    Under the terms of the letter, Nashua said it will acquire
all classes of Lin stock for 24 mln dlrs. In addition, it said
it will loan Lin 1,200,000 dlrs to support its operations.
    The closing of the sale is set for the second quarter of
1987, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14555" NEWID="9034">
<DATE>24-MAR-1987 16:34:49.02</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;f2522&#31;reute
r f BC-ALTRON-INC-&lt;ALRN>-4TH   03-24 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>ALTRON INC &lt;ALRN> 4TH QTR JAN 3</TITLE>
<DATELINE>    WILMINGTON, Mass, March 24 -
    </DATELINE><BODY>Shr loss 56 cts vs loss five cts
    Net loss 1.9 mln vs loss 164,000
    revs 6.9 mln vs 5.4 mln
    Year
    Shr loss 1.15 dlrs vs profit 52 cts
    Net loss 3.8 mln vs profit 1.7 mln
    Revs 25.6 mln vs 29.8 mln
    NOTE: 1987 net loss includes loss 6.5 mln dlrs for
nonrecurring reserve for closing costs of facility, writeoffs
and sales of real estate.
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14556" NEWID="9035">
<DATE>24-MAR-1987 16:38:19.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2534&#31;reute
r f BC-COLLINS-FOODS-&lt;CF>-MO   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>COLLINS FOODS &lt;CF> MOVES UP WARRANT CONVERSION</TITLE>
<DATELINE>    LOS ANGELES, March 24 - </DATELINE><BODY>Collins Foods International Inc
said it moved up the conversion date for its warrants to
purchase common stock to April 24.
    There are currently 2,160,000 warrants outstanding, the
company said. It said each warrant entitles the holder to buy
one Collins common share at 12.11 dlrs per share.
    Collins also said the warrants were originally scheduled to
expire on December 15, 1988.
    But the agreement under which the warrants were issued
permits the company to accelerate the date if the closing price
of its common stock equals or exceeds 21.78 dlrs per share for
10 consecutive trading days, the company said.
    It also pointed out that the stock price closed at 22.75
dlrs per share on March 23.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14557" NEWID="9036">
<DATE>24-MAR-1987 16:38:34.38</DATE>
<TOPICS><D>earn</D><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2535&#31;reute
u f BC-GENCORP-&lt;GY>-PROPOSAL   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> PROPOSALS WITHDRAWN FROM MEETING</TITLE>
<DATELINE>    AKRON, Ohio, March 24 - </DATELINE><BODY>GenCorp Inc said it withdrew from
consideration at its annual meeting on March 31 proposals aimed
at providing for a stock split and an increased dividend so
that it could focus its energies on responding to the takeover
offer made last week by a partnership of AFG Industries Inc
&lt;AFG> and Wagner and Brown.
    In addition to proposing an increase in the number of its
outstanding common shares, GenCorp had suggested the adoption
of a classified or "staggered" board and the elimination of
cumulative voting.
    GenCorp said these proposals could "distract energy and
attention from the real task at hand -- to respond to the
tender offer in a manner which is in the best interests of the
company, its shareholders and its other constituencies."
    GenCorp said the proposal to increase its outstanding
shares was made with the aim of declaring a stock split and a
dividend increase.
    The other proposals, it said, would provide for greater
long-term stability and cohesiveness for the GenCorp board.
    The company did not indicate when it might resubmit the
proposals for approval by its shareholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14558" NEWID="9037">
<DATE>24-MAR-1987 16:39:39.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2540&#31;reute
r f BC-WEEKLY-ELECTRIC-OUTPU   03-24 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>WEEKLY ELECTRIC OUTPUT UP 2.4 PCT FROM 1986</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>U.S. power companies generated a net
47.47 billion kilowatt-hours of electrical energy in the week
ended March 21, up 2.4 pct from 46.36 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 March 14 was 48.31 billion kilowatt-hours.
    The EEI said power production in the 52 weeks ended March
21 was 2,557.44 billion kilowatt hours, up 2.1 pct from the
year-ago period.
    Electric output so far this year was 602.26 billion
kilowatt hours, up 2.2 pct from 589.51 billion last year, the
EEI said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14559" NEWID="9038">
<DATE>24-MAR-1987 16:40:00.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2541&#31;reute
r f BC-MONOLITHIC-&lt;MMIC>-TO   03-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>MONOLITHIC &lt;MMIC> TO DROP GATE ARRAY LINE</TITLE>
<DATELINE>    SANTA CLARA, Calif., March 24 - </DATELINE><BODY>Monolithic Memories Inc
said it plans to discontinue marketing its gate array
integrated circuit product line and focus efforts on the market
for field-programmable products.
    It said the current market dynamics will hinder
profitability in the gate array market for some time.
    Monolithic also said it does not expect the move to have a
negative impact on earnings, adding, the company has estimated
that the gate array products would have contributed only one
pct of revenues in fiscal 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14560" NEWID="9039">
<DATE>24-MAR-1987 16:40:32.83</DATE>
<TOPICS><D>crude</D><D>gas</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2543&#31;reute
u f BC-******API-SAYS-DISTIL   03-24 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>API SAYS DISTILLATE STOCKS OFF 4.07 MLN BBLS, GASOLINE OFF 2.69 MLN, CRUDE UP 8.53 MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14561" NEWID="9040">
<DATE>24-MAR-1987 16:41:16.33</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;f2547&#31;reute
r f BC-VERMONT-FINANCIAL-SER   03-24 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>VERMONT FINANCIAL SERVICES &lt;VFSC> SETS PAYOUT</TITLE>
<DATELINE>    BRATTLEBORO, Vermont, March 24 - </DATELINE><BODY>Vermont Financial Services
Corp said its board approved a regular 20 cts per share cash
dividend payable April 25 to shareholders of record March 26.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14562" NEWID="9041">
<DATE>24-MAR-1987 16:41:51.89</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2551&#31;reute
f f BC-******RESORTS-INTERNA   03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>RESORTS INTERNATIONAL GETS BUYOUT PROPOSAL FROM KSZ CO INC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14563" NEWID="9042">
<DATE>24-MAR-1987 16:42:09.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2554&#31;reute
d f BC-VR-BUSINESS-BROKERS-E   03-24 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>VR BUSINESS BROKERS EXPANDS OPERATIONS</TITLE>
<DATELINE>    BOSTON, March 24 - </DATELINE><BODY>&lt;VR Business Brokers> said it sold a
master franchise license to one of the largest independent
groups of management consultants in the Caribbean.
    It said that under the master license the group will
operate under the name VR Caribbean Inc and will cover
countries of the Caribbean basin and Central America and Dade
County, Fla.
    Terms of the sale were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14564" NEWID="9043">
<DATE>24-MAR-1987 16:42:29.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2556&#31;reute
u f BC-CORRECTED---ATT-&lt;T>-F   03-24 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED - ATT &lt;T> FORMS COMPUTER SALES GROUPS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>American Telephone and Telegraph Co
said it formed a 600-member sales force dedicated exclusively
to its computers and other data systems products.
    Separately, ATT denied reports that it plans to buy back a
large chunk of its stock. ATT's stock is up 1/4 points at
25-1/8 in heavy trading.
    The company said it also created a separate 500-member team
that will educate the computer sales force and its other sales
groups on ATT's computer products. This group, ATT said,
reports directly to Vittorio Cassoni, senior vice president of
its computer unit. (Corrects sales support team size to 500)

REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14565" NEWID="9044">
<DATE>24-MAR-1987 16:44:02.04</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2558&#31;reute
s f BC-GREAT-ATLANTIC-AND-PA   03-24 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT ATLANTIC AND PACIFIC TEA CO INC &lt;GAP> DIV</TITLE>
<DATELINE>    NEW YORK, March 24 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Payable May one
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14566" NEWID="9045">
<DATE>24-MAR-1987 16:44:47.92</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2559&#31;reute
d f BC-GARTNER-GROUP-&lt;GART>   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>GARTNER GROUP &lt;GART> ACQUIRES COMTEC PROGRAM</TITLE>
<DATELINE>    STAMFORD, Conn., March 24 - </DATELINE><BODY>Gartner Group Inc said it
acquired sole ownership of the COMTEC Market Research Program.
    Gartner said its wholly-owned subsidiary purchased the
interests of its former partners for an aggregate price of
1,125,000 plus a percentage of net sales proceeds on future
sales of certain products.
    Prior to the acquisition, Gartner Group owned one-third in
the COMTEC partnership, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14567" NEWID="9046">
<DATE>24-MAR-1987 16:48:46.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2569&#31;reute
r f BC-U.S.-CAR-SALES-DOWN-3   03-24 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CAR SALES DOWN 3.9 PCT IN MID-MARCH</TITLE>
<DATELINE>    Detroit, March 24 - </DATELINE><BODY>Sales of U.S.-made cars during
mid-March, the traditional start of the spring selling season,
dropped 3.9 pct behind last year's level, analysts say.
    Automakers sold about 204,000 cars in the March 11-20
selling period, 10,000 fewer than last year. Analysts said the
decline may auger poorly for the rest of the spring season.
    Buyers shied away from the showrooms of American Motors
Corp &lt;AMO>, the target of a 1.5 billion dlr takeover bid from
Chrysler Corp &lt;C>. Analysts said consumers were anxious about
the whether Chrysler will retain some American Motors models,
causing a 62 pct drop in American Motors sales in mid-March.
    Chrysler's mid-March sales fell 3.6 pct.
    "During the spring selling season, you usually look for
some kind of seasonal uplift in sales. It doesn't look like
it's happening," said Joseph Philippi, analyst with E.F. Hutton
and Co.
    "There may be less bloom to the spring selling season this
year than last," one auto company official conceded.
    General Motors Corp &lt;GM>, still working to regain consumer
interest in its cars, led the drop with a 14.8 pct decline.
    Ford Motor Co's &lt;F> sales increased 15.2 pct for the
period. But analysts said the rise compares to a 1986 period
for Ford, leaving it down 10 pct in two years.
    "The total industry (mid-March sales) was slightly less
than expected," the company official said.
    American Motors' decline caught analysts eye. "American
Motors took it on the chin--big," said Philippi.
    Given the prospective takeover by Chrysler, "people might
be a little leary about going to (American Motors) dealers," he
said.
    American Motors sold 790 domestic cars in the period,
meaning each of American Motors 1,050 dealers "is selling a car
about every other day," Philippi said.
    Potential American Motors buyers are afraid their car
models "might disappear," he said.
    Chrysler, in its purchase agreement with American Motors'
majority stockholder &lt;Renault>, has agreed not to undercut
sales of American Motors' new Medallion and Premier cars, made
by Renault.
    On a company by company basis, sales of U.S. made cars from
the March 11 to 20 period were--GM 105,438, down 14.8 pct, Ford
67,672, up 15.2 pct, Chrysler 30,909, down 3.6 pct, American
Motors 790, down 6.2 pct, American Honda 7,447 compared with
5,031, Nissan Motor Corp, 3,358, up 10.7 pct, Volkswagon U.S.
Inc 1,330, down 35 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14568" NEWID="9047">
<DATE>24-MAR-1987 16:54:19.43</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2583&#31;reute
u f BC-RESORTS-INT'L-&lt;RT.A>   03-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>RESORTS INT'L &lt;RT.A> RECEIVES TAKEOVER OFFER</TITLE>
<DATELINE>    ATLANTIC CITY, N.J., March 24 - </DATELINE><BODY>Resorts International Inc
said it received a proposal from &lt;KSZ Co Inc> under which
holders of Resorts class B stock would receive 140 dlrs a share
in cash and one share of common stock in a new company to be
formed through the takeover.
    Under the offer, Resorts said holders of its class A shares
would receive 15 dlrs a share in cash and three shares of
common stock in the new company.
    Resorts said the offer from KSZ calls for a merger of
Resorts with RI Acquisition Co Inc, a newly formed Delaware
corporation.
    Resorts said that prior to the merger, RI Acquisition would
be capitalized with about 100 mln dlrs of debt and about 220
mln dlrs of equity.
    It said 200 mln dlrs of the equity would be in the form of
special preferred stock.
    The KSZ offer, Resorts said, indicates that KSZ has a
commitment from &lt;M. Davies Cos> to buy all of the special
preferred stock.
    Resorts said the offer will expire at 1700 EST on March 27.
It said it asked its investment advisor, Bear, Stearns and Co,
to advise its board on the offer.
    Earlier this month, the estate of James M. Crosby and
certian members of his family agreed to sell their class B
shares to New York real estate tycoon Donald Trump for 135 dlrs
a share. The estate and family members hold 78 pct of the
752,297 class B shares outstanding.
    Trump also agreed to pay 135 dlrs a share for the remaining
class B shares outstanding.
    Resorts also has about 5,680,000 shares of outstanding
class A stock. These shares carry one one-hundredth the voting
power of the class B shares.
    Trump's offer beat out a rival bid of 135 dlrs a share made
by Pratt Hotel Corp &lt;PRAT>.
    Resorts said that under the proposal made by KSZ, existing
class A and class B shareholders would control about 96 pct of
the outstanding common of the new company formed to acquire
Resorts.
    Resorts said the new company, upon completion of the
merger, would hold the 220 mln dlrs of debt and that the
special preferred stock would immediately be converted into
exchangeable participating preferred of the new company.
    This preferred, Resorts said, would pay a dividend based on
the net cash flows from the new company's Paradise Island
operations.
    A Resorts spokesman said the KSZ offer was made in a
two-page letter and that Resorts could not comment on it
because it did not contain enough information. Resorts has
asked Bear, Sterns to obtain complete data, he said.
    The spokesman said Resorts is not familiar with KSZ but
that it believes the company is controlled by Marvin Davis, the
Denver oilman.
    Calls to Davis were referred to Lee Solters, who handles
public relations for Davis. Solters, said to be travelling, was
not immediately available for comment.
    Donald Trump was also unavailable for comment, as was a
spokesman for the Crosby estate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14569" NEWID="9048">
<DATE>24-MAR-1987 16:56:59.34</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F RM
&#22;&#22;&#1;f2588&#31;reute
r f BC-CITICORP-&lt;CCI>-SEES-D   03-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>CITICORP &lt;CCI> SEES DOUBLING IN RETAIL BANK NET</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Citicorp expects net income in its
individual banking sector to top one billion dlrs by 1993,
compared with 462 mln dlrs in 1986, said Richard Braddock, head
of Citicorp's individual banking division.
    "We can double our earnings over the next five to seven
years," he told a banking analysts meeting, adding that this
forecast may be on the conservative side.
    He said that bank card operations and the New York branch
system would continue to turn in hefty profits but also picked
out other developing areas, such as U.S. mortgage and
international consumer, as major potential earners.
    Braddock and his sector heads made the following more
specific predictions:
    - Cost of funds and net credit loss levels in the U.S.
bankcard unit will taper off in coming years from 1986's
relatively inflated levels.
    - Customer net revenue in the mortgage banking area will
rise to 464.7 mln dlrs in 1987 from 374.3 mln in 1986.
    - The international consumer business will show 22 pct
compound annual growth in earnings between 1986 and 1992.
    - Private banking earnings will hit 100 mln dlrs in 1987
and top 200 mln dlrs in 1992.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14570" NEWID="9049">
<DATE>24-MAR-1987 16:58:33.67</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2593&#31;reute
d f BC-WD-40-CO-&lt;WDFC>-2ND-Q   03-24 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>WD-40 CO &lt;WDFC> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    SAN DIEGO, Calif., March 24 -
    </DATELINE><BODY>Shr 35 cts vs 40 cts
    Net 2,642,000 vs 3,017,000
    Sales 19.1 mln vs 18.9 mln
    Six Mths
    Shr 69 cts vs 70 cts
    Net 5,178,000 vs 5,299,000
    Sales 35.6 mln vs 33.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14571" NEWID="9050">
<DATE>24-MAR-1987 16:59:02.01</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;f2594&#31;reute
u f BC-NASD-TO-BEGIN-SEARCH   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NASD TO BEGIN SEARCH FOR NEW PRESIDENT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>The National Association of Securities
Dealers, which will launch a search for a new president later
this week, will probably concentrate on candidates with an
extensive background in the financial markets, officials of the
organization said today.
    Gordon Macklin, 58, who has served as president for 17
years, today announced his decision to leave the organization
of 6,658 broker-dealers. Macklin will join Hambrecht and Quist
as chairman and co-chief executive officer.
    Association chairman Joseph Hardiman will appoint a search
committee later this week.
    The committee will have its first meeting as early as next
week. The new president is expected to be someone knowledgable
about the over-the-counter markets and committed to the concept
of self-regulation.
    Macklin joined the association as president in 1970,
leaving a position at McDonald and Co.
    The National Association of Securities Dealers Automated
Quotations System, which currently lists 5200 securities of
4400 companies, was ushered in 10 months after Macklin's
arrival.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14572" NEWID="9051">
<DATE>24-MAR-1987 17:00:51.46</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>brazil</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2599&#31;reute
d f AM-BRAZIL-COMPUTER   03-24 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL COMPUTER MARKET TO REMAIN CLOSED-MINISTER</TITLE>
<DATELINE>    RIO DE JANEIRO, MARCH 24 - </DATELINE><BODY>Brazilian Science and Technology
Minister Renato Archer said Brazil will keep its computer
market closed to foreign goods in order to give its own infant
industry time to develop.
    "Every country establishes laws to protect its interests.
The United States closed their borders at a certain stage to
some foreign goods and therefore protected its industrial
development. Now it is time for Brazil to do likewise," Archer
said at the opening of a national software conference.
    After several meetings, Brazil and the U.S. Have made no
major progress in their computer row, which they have been
trying to resolve for the past 18 months.
    The Reagan administration has objected to Brazil protecting
its computer industry from imports.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14573" NEWID="9052">
<DATE>24-MAR-1987 17:02:09.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2603&#31;reute
d f BC-METALBANC-IN-OFFERING   03-24 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>METALBANC IN OFFERING</TITLE>
<DATELINE>    MIAMI, March 24 - </DATELINE><BODY>Metalbanc Corp said signed a letter of
intent for a proposed public offering of one mln units,
consisting of four shares of common stock and stock purchase
warrants for two additional shares.
    The units are expected to be sold at between five dlrs and
6.50 dlrs per unit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14574" NEWID="9053">
<DATE>24-MAR-1987 17:03:05.68</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;f2608&#31;reute
d f BC-NORTHERN-INDIANA-PUBL   03-24 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHERN INDIANA PUBLIC SVC &lt;NI> AGAIN OMITS DIV</TITLE>
<DATELINE>    HAMMIND, Ind., March 24 - </DATELINE><BODY>Northern Indiana Public Service
Company said it again omitted its quarterly common stock
dividend which would have been payable in May.
    NIPSCO said it has not paid a qtly dividend since December
1985 following an adverse decision by the Indiana Supreme Court
denying amortization of about 191 mln dlrs NIPSCO invested in
its Bailly N-1 project.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14575" NEWID="9054">
<DATE>24-MAR-1987 17:03:18.88</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2610&#31;reute
f f BC-******FED'S-JOHNSON-S   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED'S JOHNSON SAYS DOLLAR STABILIZED AFTER FED TOOK APPROPRIATE ACTION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14576" NEWID="9055">
<DATE>24-MAR-1987 17:05:30.74</DATE>
<TOPICS><D>money-fx</D><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2612&#31;reute
r f BC-FED-CHAIRMAN-VOLCKER   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FED CHAIRMAN VOLCKER SAYS BANK PROPOSALS A WORRY</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>The chairman of the Federal Reserve
Board, Paul Volcker, has written to the chairman of the House
Banking Committee to raise concerns about legislative proposals
scheduled for consideration Wednesday.
    Volcker told committee chairman Fernand St. Germain a
proposal to deny primary dealer status to firms from countries
that do not grant U.S. firms equal access to their government
debt markets might invite retaliation against U.S. firms
abroad.
    He added, "even Japan, against whom this proposal seems to
be particularly directed," has started opening its markets.
    In his letter, made available at the Treasury, Volcker also
said a proposal to ease debt problems of developing countries
by setting up a public facility to buy their debts owed to
commercial banks, was a problem.
    "I believe that the prospect of debt relief would undermine
the difficult internal efforts of the borrowing countries to
achieve the structural reform that is needed regardless of the
policies that are followed on servicing external debt," Volcker
said.
    It might also cause private lenders to become reluctant to
extend more credit to the borrowing countries, he said.
    Volcker said he endorsed comments by Treasury Secretary
James Baker "about the inappropriateness of using public
resources for purchasing private commercial bank debt, which we
both see as an inherent aspect of the proposed international
debt facility."
    He also said a proposal for establishing formal procedures
for international negotiations on currency exchange rates "is
unrealistic and could well have damaging effects."
    "For example, the bill's directive to intitiate negotiations
in order to achieve a competitive exchange rate for the dollar
-- a matter upon which there can be considerable difference
among analysts -- runs the risk of building up potentially
destabilizing market expectations," Volcker said.
    He recommended "we should not lock ourselves into formalized
procedures for international negotiations" on exchange rates but
instead use other, more flexible means like the recent mmeting
in Paris between U.S. treasury and central bank representatives
and those of major trade allies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14577" NEWID="9056">
<DATE>24-MAR-1987 17:08:30.83</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2615&#31;reute
s f BC-BORMAN'S-INC-&lt;BRF>-DE   03-24 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>BORMAN'S INC &lt;BRF> DECLARES QTLY DIVIDEND</TITLE>
<DATELINE>    DETROIT, Mich., March 24 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay June 15
    Record May 18
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14578" NEWID="9057">
<DATE>24-MAR-1987 17:08:39.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2616&#31;reute
r f BC-INTERLEUKIN-2-&lt;ILTO>   03-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERLEUKIN-2 &lt;ILTO> DETAILS WARRANT CONVERSION</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Interleukin-2 Inc said the
registration of warrants became effective March 20 and that 3.5
mln warrants will be convertible into 1.75 mln shares of the
company's common stock, giving the company a maximum of 2.4 mln
dlrs.
    The warrants must be exercised by June 22.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14579" NEWID="9058">
<DATE>24-MAR-1987 17:10:19.66</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;f2618&#31;reute
u f BC-/U.S.-CORN-ACREAGE-SE   03-24 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CORN ACREAGE SEEN NEAR RECORD LOW</TITLE>
<AUTHOR>    by Maggie McNeil, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>U.S. corn acreage this year is 
likely to drop to the lowest level since the unsurpassed
acreage reductions of the 1983 PIK year and could rank as one
of the lowest corn plantings in the United States in sixty
years, Agriculture Department officials said.
    USDA releases its official plantings report on March 31.
Agriculture Department analysts said next week's figures will
likely show a sharp drop in acreage to as low as 65 mln acres,
down 22 pct from last year's plantings of 83.3 mln acres.
    Assuming an 18 mln acre drop in plantings, U.S. corn
production will also decrease significantly. Analysts said 1987
corn production could drop by over one billion bushels to
around seven billion bushels.
    Expected signup of up to 90 pct in the 1987 feed grains
program, along with 1.9 mln acres enrolled in the conservation
program, will cause acreage to plummet, Department feedgrain
analysts said.
    "There's no question that there will be a sharp decrease in
corn acreage," one said. "It's difficult for any farmer to not
go along with the program this year."
    Soybean acreage is also expected to decline this year but
at a much slower rate of around four pct, USDA analysts said.
    Soybean plantings could drop to 59 mln acres or below, they
said, compared to last year's level of 61.5 mln acres.
    If analysts' unofficial estimates prove correct then the
drop in u.s. corn acreage will be the largest since 1983 when
farmers idled 22 mln acres in the Payment-In-Kind program.
    Farmers planted only around 60 mln acres of corn in 1983. A
severe drought that summer in major producing states caused
yields to tumble and final crop production to total only 4.2
billion bushels.
    Given normal weather conditions this year, USDA analysts
said the 1987 corn crop could end up around seven billion
bushels, down from last year's crop of 8.3 billion bushels.
    "This kind of acreage reduction will mean a significant
reduction in production," an analyst said.
    A crop of seven billion bushels is close to the annual U.S.
corn usage, so surplus stocks, while not decreasing, would not
increase significantly, a specialist said.
    High producing corn belt states are expected to show the
greatest acreage reductions, based upon historical
participation in government programs, analysts said.
    In contrast, soybean acreage is likely to be cut the most
in marginal producing areas of the southeast and the western
corn belt, a USDA soybean analyst said.
    "Soybean acreage in the eastern corn belt will not budge,"
he said. Neither does he expect any significant acreage cuts in
higher-producing delta areas.
    Soybean production could drop fractionally from last year's
2.0 billion bushels to 1.8 to 1.9 billion, he said.
    U.S. soybean acreage, after soaring to 71.4 mln acres in
1979 from only 52 mln acres five years prior to that, has
steadily declined in the 1980's.
    U.S. corn acreage, with the exception of 1983, has been in
the low to mid 80-mln acre range for the past 10 years. The
highest corn plantings reported in the 60 years that USDA has
kept such records was in 1932 when farmers planted 113 mln
acres and obtained average yields of 26.5 bushels per acre.
    Last year U.S. farmers obtained record corn yields
averaging 119.3 bushels per acre.
    "We have absolutely no trouble producing an eight billion
bushel crop on only 80 mln acres or so," an analyst said.
    Corn acreage will probably level at around 65 mln acres as
long as government program provisions remain the same, analysts
said.
    Currently farmers enrolling in the program are required to
set aside 20 pct of their base acreage and then are eligible
for payments of two dlrs per bushel by idling an additional 15
pct of their acreage.
    "To get to the PIK level of 60 mln acres, we would have to
provide more incentives," an analyst said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14580" NEWID="9059">
<DATE>24-MAR-1987 17:10:32.59</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2620&#31;reute
r f BC-KIRSCHNER-&lt;KMDC>-COMP   03-24 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>KIRSCHNER &lt;KMDC> COMPLETES PURCHASE</TITLE>
<DATELINE>    TIMONIUM, Md., March 24 - </DATELINE><BODY>Kirschner Medical corp said it
completed the acquisition of Minnesota Mining and
Manufacturing's &lt;MMM> orthopedic metal implant line division.
    The acquisition price is 12.0 mln dlrs in cash, a six mln
dlr three year note and 100,000 shares of Kirschner common
stock.
    The division had sales of 11.3 mln dlrs in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14581" NEWID="9060">
<DATE>24-MAR-1987 17:10:45.15</DATE>
<TOPICS><D>trade</D><D>hog</D><D>carcass</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f2621&#31;reute
r f BC-U.S.-SENATORS-SEEK-TO   03-24 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATORS SEEK TO EXPAND USDA EXPORT BONUS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Leading U.S. farm state senators are
seeking to insert into the Senate's omnibus trade bill a
provision that would broaden eligibility requirements under the
U.S. Agriculture Department's export enhancement program, EEP,
to include traditional buyers of U.S. farm products, including
the Soviet Union, Senate staff said.
    Under existing criteria, USDA can offer EEP subsidies to
recoup export markets lost to competing nations' unfair trading
practices.
    Senate Agriculture Committee Chairman Patrick Leahy (D-Vt.)
is leading a group of farm state senators in an effort to
broaden the criteria in such a way as to enable Moscow to be
eligible for the subsidies, sources said.
    The senators -- including Senate Finance Committee Chairman
Lloyd Bentsen (D-Tex.), Max Baucus (D-Mont.), David Pryor
(D-Ark.), John Melcher (D-Mont.) and Thad Cochran (R-Miss.) --
also may fold into the trade bill a measure to shield pork
producers and processors from Canadian imports.
    The measure, sponsored by Sen. Charles Grassley (R-Iowa),
would clarify the definition of "industry" in determining whether
or not imports were causing injury to U.S. producers.
    Grassley's bill stems from a 1985 decision by the
International Trade Commission that imports from Canada of live
swine -- but not fresh, chilled and frozen pork -- were harming
U.S. producers.
    The bill's proponents have argued Canada has simply
replaced shipments of live hogs with fresh pork.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14582" NEWID="9061">
<DATE>24-MAR-1987 17:11:15.09</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2623&#31;reute
b f BC-/FED'S-JOHNSON-SAYS-F   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>FED'S JOHNSON SAYS FED ACTED TO STABILIZE DOLLAR</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Federal Reserve Board Vice Chairman
Manuel Johnson said the dollar has stabilized against other
currencies after action taken by the Fed.
    "We have taken the appropriate action and the dollar has
stabilized," Johnson said after testifying to a House Banking
subcommittee.
    He did not elaborate on the nature of the action nor when
it was taken, but said that it was in the spirit of the
agreement reached by six industrial nations in Paris recently.
    Johnson said the dollar's decline against other currencies
such as the Japanese yen has been gradual.
    Since the accord by the United States, Britain, West
Germany, Japan, France and Canada, foreign exchange markets
have been closely watching for indications of intervention by
central banks to determine the committment by those nations to
their agreement.
    The nations agreed that currency exchange rates were at
about the correct levels when the pact was signed earlier this
year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14583" NEWID="9062">
<DATE>24-MAR-1987 17:11:23.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2624&#31;reute
r f BC-XOMA-&lt;XOMA>-FILES-FOR   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>XOMA &lt;XOMA> FILES FOR PUBLIC OFFERING</TITLE>
<DATELINE>    BERKELEY, Calif., March 24 - </DATELINE><BODY>Xoma Corp said it filed a
registration statement with the Securities and Exchange
Commission covering a proposed public offering of 1.3 mln
common shares.
    Xoma, a biotechnology company which produces monoclonal
antibody-based products to treat some forms of cancer, said
proceeds will be used to fund research and product development,
human clinical trials and the expansion of manufacturing
capacity and working capital.
    It said Dillon Read and Co Inc and Alex Brown and Sons Inc
will manage the underwriting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14584" NEWID="9063">
<DATE>24-MAR-1987 17:12:51.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2625&#31;reute
r f BC-REPUBLIC-AMERICAN-&lt;RA   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>REPUBLIC AMERICAN &lt;RAWC> PLANS EXCHANGE OFFER</TITLE>
<DATELINE>    ENCINO, Calif., March 24 - </DATELINE><BODY>Republic American Corp said it
began an offer to exchange a new issue of 9-1/2 pct
subordinated debentures due 2002 for a portion of its common
stock.
    Republic said it is offering to acquire its stock at a rate
of 17.50 dlrs principal amount of debentures per common share.
    The offering, which expires on April 27 unless extended, is
for up to 2,250,000 shares, with the company reserving the
right to accept three mln shares, Republic also said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14585" NEWID="9064">
<DATE>24-MAR-1987 17:15:35.82</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;f2630&#31;reute
d f BC-MARYLAND-NATIONAL-&lt;MD   03-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MARYLAND NATIONAL &lt;MDNT> SEES NEW NAME</TITLE>
<DATELINE>    BALTIMORE, March 24 - </DATELINE><BODY>Maryland National Corp, the parent of
Maryland National Bank which earlier this month merged with
American Security Bank, said its shareholders will vote on a
new name for the regional bank holding company at its April 29
annual meeting.
    It said MNC Financial Inc is the proposed new name for the
parent company. The banks merged on March 16, and have combined
assets of about 14 billion dlrs.
    Maryland said the new name only will be used for the parent
and it does not plan to change the names of Maryland National
Bank, American Security Bank or non-bank affiliates.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14586" NEWID="9065">
<DATE>24-MAR-1987 17:19:19.43</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>venezuela</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2635&#31;reute
r f BC-venezuela-has-chosen   03-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA TO ANNOUCE PARTNER FOR COAL VENTURE</TITLE>
<DATELINE>    CARACAS, March 24 - </DATELINE><BODY>Petroleos de Venezuela S.A will
announce within two weeks the name of a foreign consortium it
has chosen to help exploit the coal deposits at Guasare in
western Zulia state, PDVSA president Juan Chacin Guzman said.
    Chacin told reporters the foreign partner will provide
capital as well as technical and marketing expertise to the
Carbozulia project, which the state oil company will manage.
    PDVSA officials said that among those who bid for the
partnership is a consortium between Agip Carbone, a subsidiary
of Italy's Ente Nazionale Idrocarburi (ENI), and Atlantic
Richfield &lt;ARC> of the United States.
    Minister of Energy and Mines Arturo Hernandez Grisanti said
discussions are currently taking place to finalize the terms of
the contract with the foreign partner.
    PDVSA vice-president Pablo Reimpell said last week the
first shipment of coal from the Carbozulia project should be
made during the final quarter of 1987, and would measure
between 100-150,000 metric tons.
    Plans call for production to eventually reach 500,000 mt
annually. Reimpell said the original investment in the project
will be approximately 8 billion bolivars.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14587" NEWID="9066">
<DATE>24-MAR-1987 17:20:44.22</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;f2643&#31;reute
r f BC-GOTTSCHALKS-INC-&lt;GOT>   03-24 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>GOTTSCHALKS INC &lt;GOT> 4TH QTR NET</TITLE>
<DATELINE>    FRESNO, Calif, March 24 -
    </DATELINE><BODY>Shr 37 cts vs 50 cts
    Net 2,776,000 vs 2,756,000
    Sales 46.9 mln vs 38.8 mln
    Avg shrs 7,508,000 vs 5,550,000
    Year
    Shr 58 cts vs 55 cts
    Net 4,021,000 vs 3,005,000
    Sales 125.9 mln vs 112.8 mln
    Avg shrs 7,090,000 vs 5,500,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14588" NEWID="9067">
<DATE>24-MAR-1987 17:27:13.04</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2654&#31;reute
f f BC-******BORG-WARNER-SAY   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BORG-WARNER SAYS IT DISCUSSED POSSIBLE TAKEOVER WITH IRWIN JACOBS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14589" NEWID="9068">
<DATE>24-MAR-1987 17:28:31.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2657&#31;reute
f f BC-******CYCLOPS-CORP-SA   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CYCLOPS CORP SAYS CYACQ'S AMENDED OFFER RESTATES ORIGINAL CONDITIONS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14590" NEWID="9069">
<DATE>24-MAR-1987 17:28:58.09</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f2659&#31;reute
b f BC-/U.S.-SUGAR-QUOTA-MAY   03-24 0147</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SUGAR QUOTA MAY BE EASED, CONGRESSMAN SAYS</TITLE>
<DATELINE>    WASHINGTON, MARCH 24 - </DATELINE><BODY>The United States may soon ease its
1987 sugar import quota of one mln short tons by bringing
forward to the third quarter some shipments scheduled for the
fourth quarter of 1987, Jerry Huckaby, a leading Congressman
representing sugar growers told Reuters in an interview.
    Huckaby, a Louisiana Democrat and chairman of the House
subcommittee which deals with the sugar program, indicated the
easing of the quota might be a way to calm the concern about
the impact of the severe cut in U.S. sugar imports this year.
    "With imports coming down from 1.8 mln (last year) to one
mln, there is legitimate concern about the impacts on Caribbean
countries and the Philippines," Huckaby said.
    By bringing forward to the third quarter some imports, the
quota would effectively be eased by about 250,000 tons.
    Huckaby said by simply bringing forward to the third
quarter of the year sugar imports scheduled for the September
to December period "we could get away without having to
increase the quota."
    He noted that some in the sugar industry believe an
increase in the quota is justified.
    Earlier this month, representatives of U.S. cane sugar
refiners met with U.S. Agriculture Department officials to
request a quota increase of at least 200,000 tons. The refiners
said the increase is needed because the quota is so restrictive
there could be some spot shortages of sugar in the U.S later
this year, a refiner spokesman said.
    However, the official slaid the USDA replied only that it
would consider the request.
    Following the refiners' request, representatives of the
Florida sugarcane producers met with USDA to express opposition
to any quota expansion, industry sources said.
    The statement by Huckaby, who as a representative from a
sugar growing district in Louisiana is a leading architect of
the current sugar program, indicates at least some grower
officials are concerned enough to support an easing of the
import quota, industry officials said.
    Any final decision on easing the quota must be made by the
Reagan administration's interagency sugar policy group.
    Asked about possible quota changes, A USDA official said
"As far as I know, changing the quota volume or the quota year
is not under active consideration."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14591" NEWID="9070">
<DATE>24-MAR-1987 17:29:06.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2661&#31;reute
s f BC-MOBIL-&lt;MOB>-UNIT-NAME   03-24 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> UNIT NAMES GROUP PRESIDENT</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>Montomgery Ward and Co, a subsidiary of
Mobil Corp, said it named John Weil as president of its Apparel
Group, replacing Richard Bourret, who has resigned.
    It said Weil has been a consultant to the company since
1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14592" NEWID="9071">
<DATE>24-MAR-1987 17:30:14.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2665&#31;reute
r f BC-SONY-&lt;SNE>-TO-SHIP-SA   03-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SONY &lt;SNE> TO SHIP SAMPLE OPTICAL DISKS</TITLE>
<DATELINE>    PARK RIDGE, N.J., March 24 - </DATELINE><BODY>Sony Corp said it plans to
begin shipping samples in the fall of a 130 millimeter erasable
magneto-optical disk system used for data storage. It said it
estimates the cost of the sample drives will be one mln yen
with sample media costing 30,000 yen.
    Sony said it will ship samples to potential customers in
Japan or overseas depending on demand.
    Sony said the product's development stems from continued
progress in key technologies such as newly structured recording
layers using a polycarbonate base and high power lasers with
high-speed data transfers, among other things.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14593" NEWID="9072">
<DATE>24-MAR-1987 17:30:27.09</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2666&#31;reute
d f BC-CALIFORNIA-MICROWAVE   03-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>CALIFORNIA MICROWAVE &lt;CMIC> TAKES 3RD QTR CHARGE</TITLE>
<DATELINE>    SUNNYVALE, Calif., March 24 - </DATELINE><BODY>California Microwave Inc said
it will take non-recurring charges of 9.7 mln dlrs to pre-tax
earnings in the third quarter ended March 31.
    The company said earnings from operations in the second
half, ending June 30, 1987, excluding the charges, are expected
to be in the break-even range.
    In the second half of 1986 net earnings were 2,297,000
dlrs, or 29 cts per share.
    The company said the charges relate to its
telecommunications products area and three other areas.
    California Microwave previously estimated the write-downs
in the six to eight-mln-dlr range. It said it will add to that
a reserve for investment losses in Argo Communications Corp.
    Also to be included in the write-down are charges against
its advances to an Arizona-based communications electronics
firm the company has an option to acquire, it said.
    In addition, accruals are being made for costs associated
with the company's reduction in its Sunnyvale work force.
    California Microwave said the write-downs should have a
nominal cash impact, as the company already has paid for the
assets being written down.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14594" NEWID="9073">
<DATE>24-MAR-1987 17:31:33.86</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2671&#31;reute
b f BC-******CRS-SIRRINE-PLA   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CRS SIRRINE PLANS MAJOR RESTRUCTURING, WRITE OFF OF UP 43 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14595" NEWID="9074">
<DATE>24-MAR-1987 17:33:02.73</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2675&#31;reute
s f BC-H.F.-AHMANSON-AND-CO   03-24 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>H.F. AHMANSON AND CO &lt;AHM> QTLY DIVIDEND</TITLE>
<DATELINE>    LOS ANGELES, March 24 -
    </DATELINE><BODY>Shr 22 cts vs 22 cts prior qtr
    Pay June one
    Record May 12
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14596" NEWID="9075">
<DATE>24-MAR-1987 17:35:45.21</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;f2684&#31;reute
b f BC-BORG-WARNER-&lt;BOR>-TEL   03-24 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>BORG-WARNER &lt;BOR> TELLS OF TALKS WITH JACOBS</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>Borg-Warner Corp said it has had
discussions with Irwin Jacobs on his interest in the
possibility of Minstar Inc &lt;MNST>, a Jacobs controlled company,
being given access to certain non-public information about
Borg-Warner.
    In late February, an investor group headed by Jacobs
offered 44 dlrs a share, or 3.29 billion dlrs, to take over
Borg-Warner.
    Borg-Warner said it advised Jacobs that before its board
would give Minstar access to company records Minstar would have
to provide satisfactory evidence that sufficient financing was
committed to carry out whatever transaction was proposed.
    A Borg-Warner spokesperson said the discussions with Jacobs
and other Minstar officials focused on terms and conditions
under which the company would consider granting Minstar access
to the information it was seeking.
    The Borg-Warner spokesperson said the company has not been
able to reach an agreement with Minstar, and Borg-Warner has
not granted Minstar access to any records.
    There can be no assurance that there will be further
discussions with Jacobs or that any agreement will be reached,
the company added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14597" NEWID="9076">
<DATE>24-MAR-1987 17:39:44.56</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;E
&#22;&#22;&#1;f2699&#31;reute
u f BC-CANADA-VOWS-TO-FIGHT   03-24 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA VOWS TO FIGHT U.S. POTASH ACTION</TITLE>
<AUTHOR>    By Russell Blinch, Reuters</AUTHOR>
<DATELINE>    OTTAWA, March 24 - </DATELINE><BODY>External Affairs Minister Joe Clark
today vowed to do everything possible to fight the U.S. action
against Canadian potash exports, but also warned against
raising the alarm too early in the dispute.
    In the latest flashpoint in Canadian-U.S. trade relations,
the U.S. International Trade Commission ruled unanimously
Monday that Canadian potash shipments valued at 270 million
U.S. dlrs last year were injuring the U.S. industry.
    "We certainly intend to do everything we can to insure that
Canadian interests are well protected," Clark told the House of
Commons in the daily question period.
    But he said the opposition parties should be careful "not
to raise false alarms too early."
    The case now goes before the U.S. Commerce Department's
trade division to determine if a duty should be imposed. Potash
producers from New Mexico, claiming unfair government
subsidies, are seeking a 43 pct tariff on Canada's shipments.
    Canada, the world's largest potash producer, exported 9.8
mln metric tonnes of potash last year, with nearly a third
going to the U.S.
    Most of the potash, used in the production of fertilizer,
comes from provincially owned mines in Saskatchewan.
    In the Commons, Liberal member Lloyd Axworthy branded the
ruling as just another "trade harrassment" from the U.S. and
criticized Clark's assurances the country's interests would be
protected.
    "We received exactly the same kind of assurances in the
softwood lumber case that was totally fumbled and bumbled,"
Axworthy said.
    Canada's Progressive Conservative government agreed to
impose a 15 pct duty on its softwood lumber exports earlier
this year to end a long and bitter bilateral trade dispute with
the U.S.
    Axworthy urged the government to present Canada's case to
world trade authorities under the General Agreement on Tariffs 
and Trade.
    But Clark maintained the potash dispute was another example
of why Canada needs to find a new way to settle bilateral
irritants in the free trade negotiations under way with the
U.S.
    "What we are seeking to do is put in place a better
system," Clark said.
    Meanwhile, Saskatchewan Trade Minister Bob Andrew expressed
confidence Canada would win its case, claiming the problem
stems from low international commodity prices and not
government subsidies.
    "The reality of the problem and the injury is caused
worldwide," he said. "It's caused by a downturn in the
commodity price for fertilizer, whether it's potash fertilizer,
nitrogen fertilizer or whatever."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14598" NEWID="9077">
<DATE>24-MAR-1987 17:41:52.68</DATE>
<TOPICS><D>pet-chem</D><D>nat-gas</D></TOPICS>
<PLACES><D>trinidad-tobago</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2706&#31;reute
u f BC-trintoc-and-union-car   03-24 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>TRINTOC, UNION CARBIDE TO BUILD METHANOL PLANT</TITLE>
<DATELINE>    PORT OF SPAIN, TRINIDAD, March 24 - </DATELINE><BODY>Trinidad and Tobago is
finalizing arrangements with Union Carbide &lt;UK> of the United
States and Snamprogetti of Italy for the construction of a
1,500 tonnes per day methanol plant, Energy Minister Kelvin
Ramnath said.
    Ramnath said the ministry is now holding talks with Union
Carbide on the price of natural gas to be used in the plant,
which will be constructed near the Trinidad and Tobago oil
company (Trintoc) refinery at Point Fortin on the west coast.
    Snamprogetti built the first methanol refinery on trinidad
five years ago.
    Trintoc is likely to put up land, refinery plant and
machinery as equity. If negotiations go smoothly, ramnath said,
construction could begin by next january.
    The government of prime minister A.N.R. Robinson is hoping
to lue new investors to the twin-island state's petrochemical
industry, in order to make use of new findings of natural gas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14599" NEWID="9078">
<DATE>24-MAR-1987 17:44:49.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2716&#31;reute
r f BC-ORMAND-INDUSTRIES-&lt;OM   03-24 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>ORMAND INDUSTRIES &lt;OMD> UNIT TO REPAY DEBT</TITLE>
<DATELINE>    LOS ANGELES, March 24 - </DATELINE><BODY>Ormand Industries INc said its
General Can Co Inc unit has finalized all transactions needed
to repay about 3.3 mln dlrs of past-due accounts to its
unsecured lenders.
    The plan calls for payment of about 1.5 mln dlrs in cash
and the issuance of a new class of preferred stock by Ormand
Industries.
    The company said it anticipates full distribution to the
creditors during March.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14600" NEWID="9079">
<DATE>24-MAR-1987 17:48:26.93</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F
&#22;&#22;&#1;f2720&#31;reute
b f BC-VOLCKER-CALLS-DOLLAR   03-24 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER CALLS DOLLAR SLIDE ENOUGH</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>Federal Reserve Board Chairman Paul
Volcker said that the dollar's slide in currency markets has
been enough, a Fed spokesman said.
    The spokesman confirmed that Volcker, who spoke to a group
of financial analysts, said in answer to a question about the
dollar's recent slide that "enough is enough."
    Volcker has often expressed concern about the dollar
falling too rapidly in currency markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14601" NEWID="9080">
<DATE>24-MAR-1987 17:50:13.36</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2722&#31;reute
f f BC-******NASDAQ-SHORT-IN   03-24 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NASDAQ MARCH SHORT INTEREST WAS 184.9 MLN SHRS VS 215.7 MLN SHARES IN FEBRUARY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14602" NEWID="9081">
<DATE>24-MAR-1987 17:50:21.61</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;f2723&#31;reute
r f BC-RB-INDUSTRIES-&lt;RBI>-C   03-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>RB INDUSTRIES &lt;RBI> COMPLETES STORE SALES</TITLE>
<DATELINE>    LOS ANGELES, March 24 - </DATELINE><BODY>RB Industries Inc said it completed
the sale of its W and J SLoane Division to Laurence Crink Jr
and a group of investors.
    The definitive agreement provides for a closing on April 1,
1987. The division consists of four W and J Sloane furniture
store in Los Angeles and Orange counties.
    RB Industries also said it recently secured a five-year
8.573 pct secured 9.9-mln-dlr loan on its Irvine property from
a major institution. Proceeds will be used to retire existing
bank debt, for working capital and to retire a portion of its
outstanding 12 pct debentures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14603" NEWID="9082">
<DATE>24-MAR-1987 17:53:11.46</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;f2730&#31;reute
r f BC-TRAVELERS-&lt;TIC>-UNIT   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>TRAVELERS &lt;TIC> UNIT SELLS MORTGAGE CERTIFICATES</TITLE>
<DATELINE>    New York, March 24 - </DATELINE><BODY>Travelers Mortgage Services Inc, a
unit of Travelers Corp, is issuing nearly 75.2 mln dlrs of
mortgage pass-through certificates, said sole manager Morgan
Stanely and Co Inc.
    The certificates have a 6-1/2 pct coupon and initial price
of 89.6 for a bond equivalent yield of 8-1/2 pct. Morgan said
the certificates will be reoffered at various prices and have
an average life of 9.6 years.
    Principal and interest will be payed each month beginning
May 25. Standard and Poor's is expected to rate the
certificates AA, Morgan said.
     
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14604" NEWID="9083">
<DATE>24-MAR-1987 17:54:44.54</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;f2732&#31;reute
b f BC-******NASDAQ-SHORT-IN   03-24 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>NASDAQ SHORT INTEREST IN MARCH FALLS</TITLE>
<DATELINE>    WASHINGTON, March 24 - </DATELINE><BODY>NASDAQ said short interest as of
mid-march totaled 184.9 mln shares compared to 215.7 mln shares
for the month of February.
    NASDAQ said the mid-March figures are based on 3,983
securities and the February figures are based on 3,842
securities.
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14605" NEWID="9084">
<DATE>24-MAR-1987 17:56:15.34</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;f2733&#31;reute
r f BC-GOLDMAN-SACHS-SELLS-S   03-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>GOLDMAN SACHS SELLS SIGNET &lt;SBK> UNIT NOTES</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Goldman, Sachs and Co, acting as lead
manager, said it is offering 100 mln dlrs of deposit notes due
1992 that it purchased from Bank of Virginia Co, a unit of
Signet Banking Corp.
    The notes have a 7-1/2 pct coupon and were priced at 99.75
to yield 7.56 pct, or 74 basis points more than comparable
Treasury securities.
    Non-callable to maturity, the issue is rated Aa-2 by
Moody's Investors Service Inc. L.F. Rothschild co-managed the
deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14606" NEWID="9085">
<DATE>24-MAR-1987 17:56:55.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2735&#31;reute
r f BC-NMS-PHARMACEUTICAL-&lt;N   03-24 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>NMS PHARMACEUTICAL &lt;NMSI> SETS NEW BLOOD TEST</TITLE>
<DATELINE>    NEWPORT BEACH, Calif., March 24 - </DATELINE><BODY>NMS Pharmaceuticals Inc
said it has launched a new over-the-counter urinary blood test
that will be sold through drugstores soon.
    The test, called EZ Detect Urinary Blood Test, detects
minute amounts of blood in the urine that cannot be detected by
the naked eye.
    It has been approved by the Food and Drug Administration.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14607" NEWID="9086">
<DATE>24-MAR-1987 17:57:04.54</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;f2736&#31;reute
r f BC-AMERICAN-CAN-&lt;AC>-SEL   03-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CAN &lt;AC> SELLS CONVERTIBLE EUROBONDS</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>American Can Co said it is issuing in
the Euromarkets 175 mln dlrs of convertible Eurodollar bonds
due 2002 with a 5-1/2 pct coupon and par pricing.
    The Eurobonds are convertible into the company's common
stock at 66.75 dlrs per share, representing a premium of 27.5
pct over today's closing stock price, American Can said.
    Proceeds will be used for general corporate purposes, which
could include refinancing outstanding debt, business
acquisitions or investments. The debt is being offered via a
syndicate managed by Morgan Stanley International, Credit
Suisse First Boston and Salomon Brothers International.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14608" NEWID="9087">
<DATE>24-MAR-1987 18:01:26.87</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;f2737&#31;reute
u f BC-GENCORP-&lt;GY>-TAKEOVER   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> TAKEOVER GROUP CANCELS HEARING</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>The investor group seeking to acquire
GenCorp Inc said it agreed to cancel a court hearing after
GenCorp withdrew three proposals that, if approved, would have
made it more costly and difficult to acquire the Akron,
Ohio-based company.
    Earlier today GenCorp said it will not ask shareholders to
approve an increase in the number of its outstanding shares,
the election of a staggered board of directors and the
elimination of cumulative voting.
    However, the group said it will continue to try to block
GenCorp's poison-pill provision.
    The group, a partnership of AFG Industries Inc &lt;AFG> and
&lt;Wagner and Brown>, was to go to court on March 27 to block
GenCorp for having the three proposals voted on by shareholders
at its annual meeting.
    GenCorp said it withdrew the proposals so that it could
focus its attention on the takeover offer.
    The takeover partnership said it has asked to meet with
GenCorp to negotiate a repeal of the company's poison pill
plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14609" NEWID="9088">
<DATE>24-MAR-1987 18:03:03.64</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2738&#31;reute
u f BC-GENCORP-&lt;GY>-FIXES-RI   03-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> FIXES RIGHTS SEPARATION DATE</TITLE>
<DATELINE>    AKRON, Ohio, March 24 - </DATELINE><BODY>Gencorp Inc said that because it is
continuing to evaluate General Acquisition Inc's tender offer
it has fixed April 3, subject to further extension, as the date
the rights to purchase preferred shares will trade separately
from the common stock as a result of the tender offer.
    This extension of the expiration date is conditioned on no
person acquiring beneficial ownership of 20 pct or more of
Gencorp's common stock prior to April 3, it said.
    Gencorp said it could distribute the rights certificates to
shareholders 10 to 30 days after the March 18 acquisition offer
was made.
    However, rather than leaving the expiration date in a
range, the board decided to set April 3 as the day it will
distribute the preferred share purchase rights.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14610" NEWID="9089">
<DATE>24-MAR-1987 18:04:32.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE><D>masse</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E Y
&#22;&#22;&#1;f2739&#31;reute
u f BC-CANADA-ENERGY-MINISTE   03-24 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA ENERGY MINISTER TO MAKE STATEMENT</TITLE>
<DATELINE>    OTTAWA, March 24 - </DATELINE><BODY>Canadian Energy Minister Marcel Masse
will hold a news conference at noon est Wednesday, following a
meeting with his Alberta counterpart, Neil Webber, his office
announced.
    Published reports in Canada, quoting government sources,
said Masse will announce a major aid package for the province's
struggling energy industry.
    An unidentified Alberta member of Parliament said the plan
will include drilling incentives and tax measures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14611" NEWID="9090">
<DATE>24-MAR-1987 18:04:57.80</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;f2740&#31;reute
u f BC-AMERICAN-INTERNATIONA   03-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN INTERNATIONAL &lt;AIG> SELLS AFRICAN UNIT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>American International Group Inc said
it sold its South African subsidiary, American International
Insurance Co Ltd, to Johannesburg Insurance Holdings Ltd, a
holding company owned by a consortium of shareholders led by
Rand Merchant Bank.
    Terms were not disclosed and company officials were
unavailable for comment.
    With the conclusion of the sale, American International has
entirely divested itself of its holdings in South Africa.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14612" NEWID="9091">
<DATE>24-MAR-1987 18:07:01.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2742&#31;reute
u f BC-OXFORD-INDUSTRIES-INC   03-24 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>OXFORD INDUSTRIES INC &lt;OXM> 3RD QTR FEB 27</TITLE>
<DATELINE>    ATLANTA, March 24 -
    </DATELINE><BODY>Shr 25 cts vs 21 cts
    Net 2.8 mln vs 2.3 mln
    Revs 135.0 mln vs 119.0 mln
    Nine months
    Shr 80 cts vs 70 cts
    Net 8.9 mln vs 7.7 mln
    Revs 407.7 mln vs 403.7 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14613" NEWID="9092">
<DATE>24-MAR-1987 18:09:40.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2747&#31;reute
r f BC-UNION-TAKES-AMERICAN   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>UNION TAKES AMERICAN AIRLINES TO COURT</TITLE>
<DATELINE>    DALLAS, March 24 - </DATELINE><BODY>The Association of Professional Flight
Attendants announced today that it was seeking a court order
prohibiting any additional actions by AMR Corp's American
Airlines restricting the right of its members to communicate
with the public.
    Patt A. Gibbs, president of the 10,000-member APFA, said
the union took the action following the firing of 17 flight
attendants who had been handing out information brochures at
American's terminals at the Dallas-Fort Worth airport.
    The union has been negotiating for a new contract with the
American Airlines for the past seven months. The union is
seeking abolishment by the airline of a two-tier wage system
for flight attendants.
    Gibbs said at a press conference today that American had
fired seven flight attendants "on the spot" last Sunday, and by
Monday a total of 17 had been fired.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14614" NEWID="9093">
<DATE>24-MAR-1987 18:12:46.76</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2752&#31;reute
u f BC-PORTUGAL-MAY-HAVE-PUR   03-24 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGAL MAY HAVE PURCHASED U.S. CORN</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>Portugal may have purchased a 30,000
tonne cargo at its tender today for up to 43,000 tonnes of
number two yellow corn (14.5 pct maximum moisture) for arrival
by April 30, shipment via Gulf ports, U.S. exporters said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14615" NEWID="9094">
<DATE>24-MAR-1987 18:13:15.39</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2754&#31;reute
u f BC-TAIWAN-TENDERING-THUR   03-24 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN TENDERING THURSDAY FOR U.S. CORN</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>Taiwan will tender Thursday, March 26,
for a total of 356,000 tonnes of U.S. number two yellow corn
(14.5 pct moisture) for various Sept/Dec shipments via Gulf or
Pacific Northwest ports, U.S. exporters said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14616" NEWID="9095">
<DATE>24-MAR-1987 18:13:46.57</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2756&#31;reute
u f BC-SRI-LANKA-TENDERING-O   03-24 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>SRI LANKA TENDERING OVERNIGHT FOR WHEAT</TITLE>
<DATELINE>    CHICAGO, March 24 - </DATELINE><BODY>Sri lanka will tender overnight for
52,500 tonnes of U.S., Canadian and/or Australian wheats for
April 8/16 shipment, under the Export Enhancement Program if
U.S. origin, U.S. exporters said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14617" NEWID="9096">
<DATE>24-MAR-1987 18:14:54.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2758&#31;reute
r f AM-BRAZIL-PLANNING   03-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL ANNOUNCES NEW PLANNING MINISTER</TITLE>
<DATELINE>    BRASILIA, March 24 - </DATELINE><BODY>Brazil's new planning minister is
Anibal Teixeira de Souza, the former head of a national welfare
program, the government said.
    Teixeira replaces economist Joao Sayad, who last week
became the latest victim of the turmoil in Brasilia over
government economic policy.
    Sayad disagreed with Finance Minister Dilson Funaro, the
most important minister for economic affairs, on a range of
policy issues and submitted his resignation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14618" NEWID="9097">
<DATE>24-MAR-1987 18:23:36.11</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;f2764&#31;reute
d f BC-&lt;DIGIGRAPHIC-SYSTEMS   03-24 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;DIGIGRAPHIC SYSTEMS CORP> 4TH QTR OPER LOSS</TITLE>
<DATELINE>    EDEN PRAIRIE, MINN., March 24 -
    </DATELINE><BODY>Oper shr loss one ct vs loss seven cts
    Oper net loss 80,640 vs loss 787,738
    Revs 933,183 vs 3,346,627
    Avg shrs 6,122,378 vs 8,451,578
    Year
    Oper shr loss 75 cts vs loss 1.10 dlrs
    Oper net loss 5,120,206 vs loss 9,288,996
    Revs 5,846,962 vs 18,679,090
    Avg shrs 6,805,951 vs 8,387,802
    NOTE: Earnings exclude losses from discontinued operations
of 178,437 dlrs, or three cts a share vs 154,767 dlrs, or two
cts a share in the quarter and losses of 706,984 dlrs, or 10
cts a share vs 572,100 dlrs, or seven cts a share for the year
    1986 year earnings exclude gain from early extinguishment
of debt of 11,318,289 dlrs, or 1.66 dlrs a share
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14619" NEWID="9098">
<DATE>24-MAR-1987 18:24:24.58</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;f2766&#31;reute
h f BC-BAYOU-&lt;BYOU>-IN-DEFIN   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BAYOU &lt;BYOU> IN DEFINITIE MERGER AGREEMENT</TITLE>
<DATELINE>    HOUSTON, March 24 - </DATELINE><BODY>Bayou Resources Inc said it reached an
definite agreement to be acquired by Patrick Petroleum Co
through a stock and cash transaction valued at six dlrs per
Bayou share.
    Bayou also reported net loss of three cts or 23,024 dlrs
for the fourth quarter compared with a net income of 10,128
dlrs or one cts a year. Revenues fell to 532,807 dlrs from
769,465 dlrs a year ago.
    For the year, Bayou reported a net loss of 14 cts or
116,793 dlrs compared to a net income of 23 cts or 203,372
dlrs. Revenues fell to 2.4 mln dlrs from 3.3 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14620" NEWID="9099">
<DATE>24-MAR-1987 18:26:30.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2771&#31;reute
r f BC-APACHE-&lt;APA>-FILES-FO   03-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>APACHE &lt;APA> FILES FOR 100 MLN DLR OFFERING</TITLE>
<DATELINE>    MINNEAPOLIS, March 24 - </DATELINE><BODY>Apache Corp said it filed with the
Securities Exchange Commission a 100 mln dlr convertible
subordinated debenture offering.
    It said the offering will be underwritten by Smith Barney,
Harris Upham and Co Inc, E.F. Hutton and Co Inc, Morgan Stanley
and Co Inc, Dean Witter Reynolds Inc and Piper, Jaffray and
Hopwood Inc and will provide a security convertible into Apache
at any time prior to maturity in the year 2012 unless redeemed
earlier by the company.
    In connection with the offering, Apache said preliminary
results for the first two months of 1987 reflected a loss of
about 600,000 dlrs, or three cts a share, on consolidated
revenues of 33 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14621" NEWID="9100">
<DATE>24-MAR-1987 18:27:41.18</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;f2773&#31;reute
r f BC-TRANSCONTINENTAL-&lt;TGP   03-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>TRANSCONTINENTAL &lt;TGP> FILES NEW OFFER</TITLE>
<DATELINE>    HOUSTON, March 24 - </DATELINE><BODY>Transcontinental Gas Pipe Line Corp
said that it is not willing to accept the Federal Energy
Regulatory Commission's conditioned approval of its proposed
offer of settlement dated May 13.
    Transco said it filed a revised settlement proposal which
would permit it to become an open access transporter while
restructuring gas sales services.
    The new offer includes a gas supply inventory charge to
customers who fail to buy 60 pct of their annual contract
quantities and 35 pct of their summer contract quantities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14622" NEWID="9101">
<DATE>24-MAR-1987 18:43:53.98</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2791&#31;reute
w f BC-COMPUTER-IDENTICS-COR   03-24 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER IDENTICS CORP &lt;CIDN> 4TH QTR</TITLE>
<DATELINE>    CANTON, Mass, March 24 -
    </DATELINE><BODY>Shr loss 44 cts vs loss 20 cts
    Net loss 2.4 mln vs loss 880,000
    Revs 2.4 mln vs 2.6 mln
    Year
    Shr loss 87 cts vs loss 11 cts
    Net loss 4.3 mln vs loss 494,000
    Revs 9.0 mln vs 12.0 mln
    NOTE:1986 includes restructuring charges of 2.1 mln dlrs
and loss of foreign affiliates of 2.0 mln dlrs. 1985 includes
loss from foreign affiliates of 173,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14623" NEWID="9102">
<DATE>24-MAR-1987 18:45:24.42</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2793&#31;reute
r f BC-FLEET-TO-ACQUIRE-ASSE   03-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>FLEET TO ACQUIRE ASSETS OF MARK IV &lt;IV> UNIT</TITLE>
<DATELINE>    ST. CATHARINES, Ontario, March 24 - </DATELINE><BODY>&lt;Fleet Aerospace Corp>
said it agreed in principle to acquire the assets and
operations of the Engineered Magnetics division of Gulton
Industries Inc, a unit of Mark IV Industries Inc.
    Terms were undisclosed.
    Los Angeles-based Engineered Magnetics designs and produces
custom power conversion systems mainly for use in the defense
and aerospace industries. Its revenues for the year ended
February 28 totaled about 20 mln Canadian dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14624" NEWID="9103">
<DATE>24-MAR-1987 18:45:39.15</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;f2794&#31;reute
w f BC-MIKRON-INSTRUMENT-CO   03-24 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>MIKRON INSTRUMENT CO &lt;MIKR> 1ST QTR JAN 31</TITLE>
<DATELINE>    WYCKOFF, N.J., March 24 -
    </DATELINE><BODY>Shr three cts vs four cts
    Net 30,969 vs 18,230
    Revs 956,971 vs 702,994
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14625" NEWID="9104">
<DATE>24-MAR-1987 18:49:46.20</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2802&#31;reute
d f BC-GOLDEN-NORTH-HAS-ENCO   03-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>GOLDEN NORTH HAS ENCOURAGING DRILL RESULTS</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 24 - </DATELINE><BODY>Golden North
Resource Corp said said surface and underground drilling on the
Canty project and Mascot fraction at its Nickel Plate Mountain
property in British Columbia returned encouraging gold assays.
    It said one Canty hole encountered several mineralized
intervals including 11 feet grading 0.342 ounce gold a short
ton from 86 to 97 feet and 17 feet grading 0.756 ounce gold ton
from 170.5 feet to 187.5 feet.
    A Mascot fraction hole returned assays including 0.190
ounce gold ton over seven feet between 57 and 64 feet, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14626" NEWID="9105">
<DATE>24-MAR-1987 18:50:13.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2803&#31;reute
h f BC-UNISYS-&lt;UIS>-GETS-ORD   03-24 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>UNISYS &lt;UIS> GETS ORDER FROM SWEDEN</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Unisys Corp said it received a 4.5 mln
dlrs computer order from Rikskatteverket, the Swedish
equivalent of the U.S. Internal Revenue Service.
    The computer is planned for delivery in May this year and
will be installed in the agency's Stockholm headquarters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14627" NEWID="9106">
<DATE>24-MAR-1987 18:52:50.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2806&#31;reute
r f BC-HAWKEYE-&lt;HWKB>-ISSUES   03-24 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>HAWKEYE &lt;HWKB> ISSUES PREFERENCE STOCK</TITLE>
<DATELINE>    DES MOINES, March 24 - </DATELINE><BODY>Hawkeye Bancorp said it issued
2,690,877 shares of preference stock to its institutional
creditors in payment of 32.3 mln dlrs of restructured debt.
    It said the new shares, which are convertible into common
stock on a share-for-share basis at the option of the holders
at any time, represent in the aggregate 25 pct of the equity of
Hawkeye on a fully diluted basis.
    Hawkeye also said it issued 233,983 shares of common stock
in exchange for 14,766 shares of preferred upon completion of a
previously announced exchange offer to holders of preferred.
    As a result, the company said it has 6,922,949 shares of
common, 155,009 shares of preference stock which are
convertible into 1,149,681 shares ov common and 2,690,877
shares of preference stock convertible into a like number of
common shares.
    Total common stock equivalents are 10,763,507.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14628" NEWID="9107">
<DATE>24-MAR-1987 18:56:31.28</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2809&#31;reute
u f BC-AUSTN-FEB-ANNUAL-M3-M   03-24 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTN FEB ANNUAL M3 MONEY SUPPLY RISES 11.2 PCT</TITLE>
<DATELINE>    Sydney, March 25 - </DATELINE><BODY>The annual growth of Australia's m3
money supply rose by 11.2 pct in the year ended February
compared with January's 10.7 pct, the Reserve Bank said.
    This was down from 14.0 pct in February last year.
    In February m3 rose by 0.6 pct compared with 0.8 in January
and a February 1986 rise of 0.1 pct.
 More
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14629" NEWID="9108">
<DATE>24-MAR-1987 18:57:22.82</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;f2810&#31;reute
r f BC-PS-GROUP-&lt;PSG>,-USAIR   03-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>PS GROUP &lt;PSG>, USAIR &lt;U> MOVE UP DEADLINE</TITLE>
<DATELINE>    SAN DIEGO, Calif., March 24 - </DATELINE><BODY>PS Group Inc said it and
USAir Group agreed to move up the completion date of USAir's
acquisition of Pacific Southwest Airlines to April 30 from
September 30 originally.
    If the acquisition does not take place by April 30, either
party may terminate the agreement, the company said.
    The deadline has been moved up because the Department of
Transportation and PS Group shareholders have already approved
the transaction, the company said.
    A Teamsters Union agreement to certain labor contract
conditions remains to be resolved under the pact.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14630" NEWID="9109">
<DATE>24-MAR-1987 19:00:00.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2815&#31;reute
r f BC-TANDON-&lt;TCOR>-SAYS-SE   03-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>TANDON &lt;TCOR> SAYS SEARS &lt;S> STILL CUSTOMER</TITLE>
<DATELINE>    CHATSWORTH, Calif., March 24 - </DATELINE><BODY>Tandon Corp said Sears
Roebuck, through its Sears Business Centers, continues to be a
customer of Tandon for its products.
    The company said it was issuing the statement in response
to a published report that quoted unidentified industry sources
as saying Sears Business Centers will shortly discontinue
carrying Tandon computer products.
    Tandon noted, however, that while the Sears relationship is
important, in the first quarter of 1987, ended December 28,
1986, sales to Sears accounted for less than two pct of the
company's total revenues of 76.44 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14631" NEWID="9110">
<DATE>24-MAR-1987 19:01:07.62</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2818&#31;reute
h f BC-MERGERS,-PUBLIC-OFFER   03-24 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>MERGERS, PUBLIC OFFERS SEEN AMONG CAR DEALERS</TITLE>
<AUTHOR>    By Scott Williams, Reuters</AUTHOR>
<DATELINE>    Detroit, March 24 - </DATELINE><BODY>Automobile dealerships have become
large, multi-store operations, and the largest sell more than 1
billion dlrs a year worth of vehicles a year.
    Around the auto industry there is talk of mergers and
buyouts among dealerships, and there are rumors that the
largest are considering offering shares to the public, analysts
say.
    Retail car sales "are at a point of transition. There's not
much that's off the table in terms of creative thinking" about
ways to sell cars, says David Cole, analyst with the University
of Michigan's Transportation Research Institute.
    The retail car market is "much more freeform now" than it
was in 1956, the year things began to change, says Detroit
analyst Arvid Jauppi of Arvid Jauppi and Associates.
    Thirty years ago, in 1956, the situation was different.
Dealerships sold one kind of car--a "Chevy" or a Ford or a
Studebaker. The average dealer had 17 employees and sold
738,000 dlrs worth of vehicles, according to the National
Automobile Dealers Association.
    That year a tiny car from overseas--Germany's Volkswagen
Beatle--began to gain popularity. The "Bug" caused "a
rebellion" among dealers, who demanded greater freedom from
restrictions placed on them by the major American automakers,
says Jauppi.
    One of the most visible changes in retail car sales has
been in the size of dealerships, auto analysts say. Last year,
the average dealership had 11.2 mln dlrs in sales--a 15-fold
increase from 1956--and employed 34 workers.
    "I had one of these guys tell me he makes six, seven mln
dlrs a year and didn't know what to do with all his money,"
says Cole.
    "There's a whole lot more rich guys who sell cars than that
make cars," he says.
    With the increase in size, large dealers have been buying
up other dealerships, and auto analysts see few signs the trend
will let up.
    Donald Keithley, vice president, dealer services, for J.D.
Power, a California-based market research firm, says that, by
1990, 12,000 people will own dealerships compared to 16,800
principal owners today.
    Many dealers are experimenting with owning several
franchises, some of which might compete against each other. "It
used to be a Chevrolet dealer was a Chevrolet dealer. Now a
Chevrolet dealer might handle several lines," Jauppi says.
    As dealers get bigger, industry officials are talking about
the possibility that some of them might become publicly-owned
or open international operations.
    Offering shares to the public is an option large dealers,
"are obviously thinking of very seriously," says Cole.
    Although some say the franchise system might get in the way
of a public offering, Jauppi says there are few obstacles to
trading in car dealer shares.
    "Dealers are large enough now to go public. The only thing
the manufacturer cares about is that the dealer sells those
cars. It could happen any time," Jauppi says.
    "If you look at the whole merger mania, and look at the
scale some of these dealers, it's going to be very hard to
resist taking them public," said another analyst.
    And Jauppi says that dealerships can be expected to become
international.
    "We're going to have international dealers--dealer networks
that are worldwide," he says. U.S. dealers will be attracted
particularly to Europe, where the market will expand faster
than the U.S., he says.
    "It's not totally off the wall," says Cole.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14632" NEWID="9111">
<DATE>24-MAR-1987 19:05:22.61</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2824&#31;reute
r f BC-COMPREHENSIVE-CARE-CO   03-24 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPREHENSIVE CARE CORP &lt;CMPH> 3RD QTR NET</TITLE>
<DATELINE>    IRVINE, Calif., March 24 - </DATELINE><BODY>Qtr ended Feb 28
    Shr 17 cts vs 22 cts
    Net 2,041,000 vs 3,329,000
    Revs 46.6 mln vs 48.9 mln
    Nine mths
    Shr 65 cts vs 82 cts
    Net 9,290,000 vs 12.7 mln
    Revs 142.7 mln vs 139.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14633" NEWID="9112">
<DATE>24-MAR-1987 19:07:46.04</DATE>
<TOPICS><D>earn</D><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;f2826&#31;reute
r f BC-CHAPMAN-&lt;CHPN>-IN-RES   03-24 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>CHAPMAN &lt;CHPN> IN RESTRUCTURING</TITLE>
<DATELINE>    DALLAS, March 24 - </DATELINE><BODY>Chapman Energy INc said it is launching
a major restructuring which, if not approved, it will have no
alternative but to seek protection under Chapter 11.
    Under the plan, Chapman will exchange securities and cash
for all outstanding 12 pct senior subordinated debentures due
2000 and will sell a controlling interest to Troon Partners
Ltd.
   The agreement with Troon requires Troon to advance 6.5 mln
dlrs partially secured by a first mortgage lien on the
company's interest in its natural gas pipeline partnership and
Troon to tender 100,000 principal amount of debentures to
Chapman.
    Proceeds of the loan will be used for the cash portion of
the restructuring. Troon will acquire a majority stock interest
and control of the board.
    In addition, Chapman and Troon will establish a 10 mln dlrs
acquisition joint ventures, it said.
    The plan also contemplates establishing a restructured loan
providing for one master credit agreement having an aggregate
balance of 22.4 mln dlrs.
    The plan also contemplates the recapitalization of
preferred stock whereby each share will be converted into three
shares of common stock.
    Chapman also said it also plans to negotiate settelment and
discharge of a substantial portion of its accounts payable and
settlement of certain litigation.
    If approved by various creditors and shareholders, the
company expects the plan to be completed by May 29.
    Chapman also repoted a loss of 43.4 mln dlrs for the year,
including asset writedowns of 35.5 mln dlrs, compared to
December 31, compared to a net income of 177,243 in 1985.
    The 1986 loss resulted in shareholders' deficiency of 15
mln dlrs compared to shareholder's equity of 28.9 mln last
year.
    Total assets decreased to 35.6 mln dlrs from 81.8 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14634" NEWID="9113">
<DATE>24-MAR-1987 19:18:47.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2837&#31;reute
h f BC-VESTAR-INC-&lt;VSTR>-YEA   03-24 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>VESTAR INC &lt;VSTR> YEAR LOSS</TITLE>
<DATELINE>    PASADENA, Calif., March 24 -
    </DATELINE><BODY>Shr loss 98 cts vs loss 1.11 dlrs
    Net loss 3,863,000 vs loss 3,483,000
    Revs 1,081,000 vs 799,000
    Note: 4th qtr data not given.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14635" NEWID="9114">
<DATE>24-MAR-1987 19:21:34.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2840&#31;reute
h f BC-UNIVATION-INC-&lt;UNIV>   03-24 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>UNIVATION INC &lt;UNIV> EXPANDS EUROPE DISTRIBUTION</TITLE>
<DATELINE>    MILPITAS, Calif., March 24 - </DATELINE><BODY>Univation Inc said it has
entered marketing agreements with eight major European
distributors in seven countries.
    The company said the agreements are expected to yield ten
mln dlrs in sales in the next 18 months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14636" NEWID="9115">
<DATE>24-MAR-1987 19:21:53.45</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2842&#31;reute
w f BC-&lt;STERLING-BANCORP>-YE   03-24 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;STERLING BANCORP> YEAR NET</TITLE>
<DATELINE>    LOS ANGELES, March 24 -
    </DATELINE><BODY>Shr 1.13 dlrs vs 87 cts
    Net 1,064,489 ca 780,712
    Assets 106.8 mln vs 102.5 mln
    Note: 4th qtr data not given.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14637" NEWID="9116">
<DATE>24-MAR-1987 19:22:01.19</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2843&#31;reute
s f BC-FIRST-NEW-HAMPSHIRE-B   03-24 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST NEW HAMPSHIRE BANKS INC DIV</TITLE>
<DATELINE>    MANCHESTER, N.H, March 24 -
    </DATELINE><BODY>Qtly div 15 cts vs 15 cts prior
    Payable May one
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14638" NEWID="9117">
<DATE>24-MAR-1987 19:23:15.29</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;f2844&#31;reute
s f BC-HOUSE-OF-FABRICS-&lt;HF>   03-24 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE OF FABRICS &lt;HF> QUARTERLY DIVIDEND</TITLE>
<DATELINE>    SHERMAN OAKS, Calif., March 24 -
    </DATELINE><BODY>Qtly div 12 cts vs 12 cts
    Pay July 1
    Record June 12
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14639" NEWID="9118">
<DATE>24-MAR-1987 19:57:30.70</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2851&#31;reute
f f BC-Bank-of-Japan-bought   03-24 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Bank of Japan bought 200 to 300 mln dlrs this morning, dealers said.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14640" NEWID="9119">
<DATE>24-MAR-1987 20:03:50.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2856&#31;reute
f f BC-MIAMI-Brazil-and-bank   03-24 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MIAMI-Brazil and bank advisory committee agree to 60-day extension on credit lines
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14641" NEWID="9120">
<DATE>24-MAR-1987 20:06:00.50</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2858&#31;reute
b f BC-JAPAN-BUYS-MODEST-AMO   03-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BUYS MODEST AMOUNT OF DOLLARS, DEALERS SAY</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Bank of Japan bought a modest amount
of dollars this morning, possibly around 200 to 300 mln,
dealers said.
    One dealer said the central bank bought about 200 mln dlrs
through brokers and the rest through banks. The buying began
when the dollar was at about 149.60 yen, and helped drive the
U.S. Currency up to around 150, he said.
    Another said the central bank seemed to be trying to push
the dollar up above 150 yen. But heavy selling at around that
level quickly pushed the dollar back down towards 149 yen,
dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14642" NEWID="9121">
<DATE>24-MAR-1987 20:06:02.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2859&#31;reute
f f BC-Miami-Brazil-says-it   03-24 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Miami-Brazil says it expects to make no interest payments before March 31
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14643" NEWID="9122">
<DATE>24-MAR-1987 20:41:28.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2863&#31;reute
f f BC-CORRECTED-MIAMI-Brazi   03-24 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CORRECTED-MIAMI-Brazil, bank committee will transmit request for 60-day credit extension
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14644" NEWID="9123">
<DATE>24-MAR-1987 20:46:44.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2866&#31;reute
b f BC-BRAZIL/BANK-COMMITTEE   03-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL/BANK COMMITTEE AGREE ON CREDIT REQUEST</TITLE>
<DATELINE>    MIAMI, March 24 - </DATELINE><BODY>Brazil and its bank advisory committee
agreed to transmit a request for an extension of short-term
credit lines totalling 16 billion dlrs for 60 days until May
31, Brazilian Central Bank President Francisco Gros said.
    Speaking after talks with the committee here, Gros also
said he did not expect to make interest payment to the banks at
this moment.
    He added that "no one should expect any dramatic
developments before March 31."
    Brazil last month suspended interest payments on its 68
billion dlrs debt to commercial banks and froze short-term
trade and money market lines.
    Bankers said they would relay the Brazilian request for an
extension but declined to say whether they were specifically
endorsing it.
    Gros said the decision, which he called a "standstill"
arrangement, will be communicated to Brazil's 700 bank
creditors by telex tomorrow. Banks had been pressing Brazil to
make at least a token interest payment, but Gros said the
government was unable to comply for the moment.
    He stressed however that Brazil was willing to pay as soon
as it could, but added that a payment of interest was not
connected with the extension of the credit lines.
    "That would not be wise," he said.
    He said that the extension of the short-term lines would
not be carried out through "an official instrument" as there was
not time to complete the legal requirements.
    Gros said Brazil was likely to meet again with the 14-bank
advisory committee once Brazil had information to present on an
economic plan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14645" NEWID="9124">
<DATE>24-MAR-1987 21:23:11.10</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f2889&#31;reute
r f BC-JAPAN'S-1986/87-SUGAR   03-24 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN'S 1986/87 SUGAR CANE OUTPUT SEEN FALLING</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>An Agriculture Ministry survey has
estimated the nation's 1986/87 crop sugar cane output at 2.14
mln tonnes, down from 2.62 mln a year earlier.
    Ministry officials said the decline was due to bad weather
and a reduction in the land under sugar cane this season, which
totals 34,800 hectares, down from 35,700 in 1985/86, they said.
    Harvesting stretches from December 1986 to April 1987
    Japan's final output will be announced at the beginning of
June, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14646" NEWID="9125">
<DATE>24-MAR-1987 21:50:50.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2898&#31;reute
u f BC-INDIAN-ROCKET-LAUNCH   03-24 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIAN ROCKET LAUNCH FAILS</TITLE>
<DATELINE>    NEW DELHI, March 25 - </DATELINE><BODY>India's first intercontinental-range
rocket fell into the Bay of Bengal two minutes after launch
yesterday.
    "Disaster struck the Indian space program today," the Press
Trust of India (PTI) news agency reported of the failure of the
rocket at Sriharikota in south India.
    Earlier, the news agency had reported that 460 seconds
after the blast-off the launch vehicle had placed a 145 kg
satellite payload in a 400 km earth orbit.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14647" NEWID="9126">
<DATE>24-MAR-1987 23:22:41.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2930&#31;reute
u f BC-AUSTRALIA'S-OPPOSITIO   03-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA'S OPPOSITION PARTY GAINING POPULARITY</TITLE>
<DATELINE>    SYDNEY, March 25 - </DATELINE><BODY>Australia's opposition coalition of
Liberal and National parties has closed the ruling Labour
party's three percentage point lead in the past month, a public
opinion poll published today said.
    The Morgan Gallup Poll showed both sides were level on 45.5
pct in a nation-wide poll of about 2,000 voters.
    It also showed public support was growing for Andrew
Peacock, who was dismissed as the opposition's foreign affairs
spokesman two days ago, although the poll was conducted a week
before he was removed.
    The survey, published in the Bulletin magazine, said 49 pct
of the voters wanted Peacock while only 18 pct supported
opposition leader John Howard.
    Peacock has said he may challenge Howard for the leadership
before the next elections due before April, 1988.
    Howard sacked Peacock as shadow foreign minister after
accusing him of undermining the leadership during a telephone
conversation with another party member.
    The car-telephone conversation was picked up by an
unidentified man using a radio scanner and published in the
Melbourne Sun newspaper.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14651" NEWID="9127">
<DATE>24-MAR-1987 23:43:04.41</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;f2941&#31;reute
u f BC-WEEKS-PETROLEUM-LTD-&lt;   03-24 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>WEEKS PETROLEUM LTD &lt;WPMA.MEL> CALENDAR 1986</TITLE>
<DATELINE>    MELBOURNE, March 25 -
    </DATELINE><BODY>Shr 16.7 cents vs 29.4
    Final div nil vs same making nil vs same
    Pre-tax profit 21.31 mln dlrs vs 26.42 mln
    Net 10.84 mln vs 19.15 mln
    Turnover 17.17 mln vs 25.94 mln
    Other income 101.99 mln vs 125.18 mln
    Shrs 65.13 mln vs same.
    NOTE - Net is after tax 10.47 mln vs 7.27 mln, interest
2.58 mln vs 9.55 mln, depreciation 5.06 mln vs 7.61 mln and
minorities nil vs same. Other income: 72.39 mln from sale of
investments (103.04 mln 1985), interest 25.75 mln (21.49 mln),
and dividends 1.64 mln (nil). Co is 93.7 pct owned by &lt;Bell
Resources Ltd>.
    Note - All figures in U.S. Dollars as the company is
registered in Bermuda.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14648" NEWID="9128">
<DATE>25-MAR-1987 00:25:01.95</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0004&#31;reute
f f BC-Bank-of-Japan-keeps-i   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Bank of Japan keeps intervening to hold dollar above 149 yen, brokers
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14649" NEWID="9129">
<DATE>25-MAR-1987 00:33:03.37</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0005&#31;reute
b f BC-JAPAN-INTERVENING-TO   03-25 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN INTERVENING TO KEEP DOLLAR UP, BROKERS</TITLE>
<DATELINE>    TOKYO, Mar 25 - </DATELINE><BODY>The Bank of Japan is continuing to
intervene in the Tokyo market, buying small amounts of dollars
to hold the unit above 149 yen, brokers said.
    They said the Bank is coming in when the dollar is around
149.05/10 yen, the same levels as New York's close yesterday
and the midday close in Tokyo today.
    Dealers said the Bank of Japan is intervening in the market
through both banks and brokers this afternoon.
    The central bank is checking selling orders through banks
and placing matching buy orders, they said.
    The central bank started to intervene shortly after the
market opened here in the afternoon, the dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14650" NEWID="9130">
<DATE>25-MAR-1987 00:33:36.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0006&#31;reute
b f BC-BELL-GROUP-ISSUING-20   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL GROUP ISSUING 200 MLN IN CONVERTIBLE BONDS</TITLE>
<DATELINE>    PERTH, March 25 - </DATELINE><BODY>The Bell Group Ltd &lt;BLLA.S> said it will
make two convertible bond issues totalling 200 mln dlrs.
    An issue of about 125 mln in convertible bonds, to be
quoted on the Luxembourg Stock Exchange, would be offered in
Europe through a syndicate led by &lt;Banque Paribas Capital
Markets Ltd>, &lt;Swiss Bank Corp International Ltd> and &lt;S.G.
Warburg Securities>, Bell Group said in a statement.
    Subject to shareholder approval, at a meeting on April 22,
a further 75 mln dlrs in convertible bonds would be subscribed
by Bell Group chairman Robert Holmes a Court, it said.
    The funds would provide additional working capital.
    The bonds, maturing 10 years from the date of issue, would
carry a 10 pct per annum interest rate, payable annually in
arrears, Bell Group said.
    The bonds are convertible into ordinary shares of The Bell
Group Ltd at any time, with the issue price a premium in the
range of 20 to 25 pct above the market price of the ordinary
shares at the date of issue of the bonds, it said.
    The bonds also carry the right for the issuer to redeem
them after two years if the share price is above 130 pct of the
conversion price for more than 30 days. Bell Group made a
similar 75 mln dlr bond issue in December 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14652" NEWID="9131">
<DATE>25-MAR-1987 01:17:34.56</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0025&#31;reute
f f BC-Current-exchange-rate   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Current exchange rates almost within levels agreed by major nations - Sumita
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14653" NEWID="9132">
<DATE>25-MAR-1987 01:18:36.74</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0026&#31;reute
f f BC-Sumita-says-major-nat   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Sumita says major nations cooperated to stabilise currencies.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14654" NEWID="9133">
<DATE>25-MAR-1987 01:24:29.82</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0027&#31;reute
u f BC-THAILAND'S-FOREIGN-RE   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>THAILAND'S FOREIGN RESERVES FALL IN FEBRUARY</TITLE>
<DATELINE>    BANGKOK, March 25 - </DATELINE><BODY>Thailand's foreign reserves of gold,
special drawing rights and convertible currencies fell to 3.86
billion dlrs at end-February from 3.95 billion the previous
month, but were above the 3.08 billion held at the same time
last year, the Bank of Thailand said.
    It said the reserves were equal to about five months' worth
of imports.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14655" NEWID="9134">
<DATE>25-MAR-1987 01:27:53.76</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0028&#31;reute
b f BC-EXCHANGE-RATES-ALMOST   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>EXCHANGE RATES ALMOST WITHIN G-6 LEVELS - SUMITA</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>Bank of Japan governor Satoshi Sumita
said that current exchange rates are almost within the levels
agreed to by six major nations last month in Paris.
    Asked whether a dollar/yen rate of 148 or 149 reflected
economic fundamentals, he said current rates almost reflect
fundamentals.
    Sumita told reporters major nations have cooperated to
bring about currency stability in line with the Paris
agreement, which stipulated that they would closely cooperate
to that end. He repeated the central bank will intervene if
necessary, adding he did not think a dollar free-fall was
likely.
    But Sumita said he could not say exactly what currency
levels would be considered in line with underlying economic
fundamentals.
    In Paris on February 22, Britain, Canada, France, Japan,
the U.S. And West Germany agreed to cooperate to hold
currencies around their then current levels.
    Sumita said he could not find any specific reasons behind
the fall of the dollar to a record low against the yen
yesterday. But he said the market rushed to sell dollars as it
nervously reacted to statements abroad and to developments
surrounding trade tensions.
    U.S. Treasury Secretary James Baker said over the weekend
that the Paris pact did not encompass fixed tragets for the
dollar. U.S. Trade Representative Clayton Yeutter called
U.S/Japan relations on certain key trade issues very strained.
    The market reacted nervously because the dollar has been
moving narrowly against the yen since mid-January, Sumita said.
He added he does not expect the yen/dollar exchange rate to
remain unstable because the market is concerned about a sharp
rise of the yen.
    The Bank of Japan will keep a close watch on exchange rates
in line with the Paris accord, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14656" NEWID="9135">
<DATE>25-MAR-1987 01:31:53.23</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0029&#31;reute
u f BC-N.Z.-TRADE-SURPLUS-11   03-25 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Z. TRADE SURPLUS 119.1 MLN DLRS IN FEBRUARY</TITLE>
<DATELINE>    WELLINGTON, March 25 - </DATELINE><BODY>Preliminary trade figures for
February show an excess of exports over imports of 119.1 mln
N.Z. Dlrs, a Statistics Department statement said.
    This compares with a 3.3 mln dlr deficit (revised from 1.7
mln) in January and a 36.1 mln dlr deficit in February 1986.
    Exports rose to 998.4 mln dlrs, from 889.2 mln (revised
from 889.5) in January and 903.2 in February 1986. Imports
dropped to an estimated 879.4 mln dlrs from 892.5 (revised from
891.2) in January and 939.3 in February 1986. The deficit for
the eight months to the end of February was 15.3 mln dlrs, as
against 1.057 billion dlrs in the same period a year ago.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14657" NEWID="9136">
<DATE>25-MAR-1987 01:36:28.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0031&#31;reute
b f BC-MATSUSHITA-TO-ISSUE-2   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>MATSUSHITA TO ISSUE 200 BILLION YEN CONVERTIBLE</TITLE>
<DATELINE>    OSAKA, March 25 - </DATELINE><BODY>Matsushita Electric Industrial Co Ltd
&lt;MC.T> said it will issue a 200 billion yen unsecured
convertible bond in the domestic capital market through public
placement with Yamaichi Securities Co Ltd, Nomura Securities Co
Ltd, Nikko Securities Co Ltd, Daiwa Securities Co Ltd and
National Securities Co Ltd as underwriters.
    Coupon and conversion price for the par-priced bond
maturing on September 30, 1996, will be set before payment on
May 2.
    This issue equals in size a record one by Toyota Motor Corp
last December.
    Matsushita's shares closed on the Tokyo Stock Exchange at
1,640 yen, down 50 from yesterday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14658" NEWID="9137">
<DATE>25-MAR-1987 01:52:35.22</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0043&#31;reute
f f BC-Sumita-says-Bank-of-J   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Sumita says Bank of Japan has no intention of lowering its discount rate
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14659" NEWID="9138">
<DATE>25-MAR-1987 02:05:14.76</DATE>
<TOPICS><D>interest</D><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0048&#31;reute
b f BC-JAPAN-DOES-NOT-INTEND   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN DOES NOT INTEND TO CUT DISCOUNT RATE-SUMITA</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>Bank of Japan governor Satoshi Sumita
said the central bank has no intention of cutting its discount
rate again as a way of preventing the yen's rise.
    He told a press conference that the growth of Japanese
money supply remains high.
    The bank will have to watch closely various developments
resulting from its already eased monetary stance, such as the
sharp rise in real estate and stock prices, he said.
    Although the yen's rise will have a greater deflationary
impact on the economy, the economy is not likely to slow down
much further, Sumita said.
    "I don't think we should change our economic outlook at the
moment," Sumita said.
    Sumita has said in the past that he expects the economy to
show a gradual upturn in the second half of the year.
    The governor said the six major industrial nations are
expected to review last month's pact on currency stability when
they meet next in April.
    Dealers said they expect the six - Britain, Canada, France,
Japan, the U.S. Amd West Germany - to meet just before the
IMF/World Bank interim committee meeting in Washington starting
on April 9.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14660" NEWID="9139">
<DATE>25-MAR-1987 02:08:26.74</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0053&#31;reute
u f BC-JARDINE-MATHESON-PROF   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>JARDINE MATHESON PROFITS SEEN UP SHARPLY IN 1986</TITLE>
<AUTHOR>    By Joshua So, Reuters</AUTHOR>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>A strong performance by its retail
businesses and affiliates will enable Jardine Matheson Holdings
Ltd &lt;JARD.HKG> to report on Friday a big leap in net profit in
1986, stock analysts said.
    They told Reuters they expect the firm to show earnings of
between 420 mln and 450 mln H.K. Dlrs last year against 157 mln
in 1985.
    The analysts also said they expect Jardine Matheson to pay
a total dividend of 15 to 20 cents a share against 10 cents a
share in 1985.
    James Capel (Far East) Ltd estimates Jardine Matheson's
1986 profits at 450 mln dlrs and attributes most of the income
to retail sales.
    Analysts said the group's 7-Eleven retail stores and its
franchises, among them Canon cameras, Christian Dior luxury
goods and Mercedes Benz cars, produced a strong cash flow.
    Alan Hargreaves of Hoare Govett Asia Ltd also put Jardine
Matheson's 1986 net profits at 450 mln dlrs and said he
estimates pre-tax earnings from retail operations at about 465
mln dlrs against 339 mln in 1985.
    But Hargreaves said Jardine Matheson's earnings from its 35
pct stake in Hong Kong Land Co Ltd &lt;HKLD.HKG> will fall to
about 230 mln dlrs from 281 mln dlrs in 1985.
    The reduced contribution reflects the spin-off from Hong
Kong Land of &lt;Dairy Farm International Ltd> last September.
    Jardine gained a direct holding of 35 pct of Dairy Farm as
a result of the spin-off. Analysts said Jardine will book
revenues from its Dairy Farm stake for the final months of the
year as part of its retail business, which will increase its
overall retail income figures.
    Analysts said Jardine Matheson will also enjoy sharply
increased revenues from financial services, mainly its 50 pct
share of &lt;Jardine Fleming Holdings Ltd>.
    Jardine Fleming yesterday reported record profits for 1986
of 209.5 mln dlrs against 104.7 mln in 1985.
    Analysts said Jardine Matheson made net interest payments
of about 200 mln dlrs last year, slightly below the 213 mln
dlrs of 1985, while the company's term debt remained at about
the 1985 level of 2.7 billion dlrs.
    But Jardine was also subject to increased taxes of 340 mln
dlrs last year against 292 mln in 1985, they said.
    Jardine Matheson is undergoing a series of reorganisations
that will in effect turn it into a holding company for its
diverse interests.
    It previously announced a plan to sell its stakes in both
Hong Kong Land and Dairy Farm to newly created &lt;Jardine
Strategic Holdings Ltd> in which it has a 41 pct interest.
    A company statement issued last month said the firm will
use the proceeds to repay all debt, leaving it with an
additional 500 mln dlrs in cash on hand.
    Though Jardine Matheson will be deprived of a direct stake
in the high-yield Hong Kong Land and Dairy Farm units, it is
likely to develop its own business, analysts said.
    "The future of the stock will depend on the firm's ability
to creatively structure some new acquisitions," said Hargreaves
of Hoare Govett.
    He noted the firm has suggested financial services as a key
sector, and he said it may add some insurance firms to its
existing business.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14661" NEWID="9140">
<DATE>25-MAR-1987 02:24:00.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0069&#31;reute
b f BC-HU-YAOBANG-APPEARS-AT   03-25 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>HU YAOBANG APPEARS AT CHINA PARLIAMENTARY SESSION</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>Former Chinese Communist Party chief Hu
Yaobang attended a parliamentary session in his first public
appearance since his dismissal in January.
    Hu took his place on the platform of the auditorium of
Peking's Great Hall of the People as 3,000 delegates gathered
for the opening meeting of the National People's Congress
annual session.
    Hu was dismissed from the top Communist Party job after
being accused of "mistakes" including a failure to combat Western
political ideas.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14662" NEWID="9141">
<DATE>25-MAR-1987 02:34:14.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0080&#31;reute
u f BC-FOREIGN-BROKERS-GET-M   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN BROKERS GET MORE ACCESS TO JAPANESE BONDS</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Finance Ministry has accepted a
decision by the securities industry to expand the share of
foreign brokers in the 10-year bond underwriting syndicate to
5.73 pct from 1.19 pct now, a ministry spokesman said.
    Earlier this month, the ministry approved a plan to expand
the securities industry's share in the syndicate to 26.2 pct
from 26 pct from April to allow six foreign securities firms to
participate, he said.
    The banks' share in the syndicate will be cut to 73.8 pct
from 74 pct from April.
    Each of the original 17 foreign brokers had a 0.07 pct
share, but the securities industry said in a report accepted by
the ministry that it decided to raise the share of some foreign
firms due to their commitment to the Japanese market.
    Salomon Brothers Asia Ltd will have one pct, while S.G.
Warburg and Co Ltd, Goldman, Sachs International Corp, Jardine
Fleming (Securities) Ltd, First Boston Corp, Merrill Lynch
Securities Co and Morgan Stanley and Co Inc will each have 0.5
pct.
    Vickers da Costa Ltd and Smith Barney, Harris Upham
International Inc will each have 0.3 pct. Kleinwort, Benson
Ltd, Kidder, Peabody and Co Ltd, Drexel Burnham Lambert Inc,
Deutsche Bank AG and W.I. Carr, Sons and Co each get 0.1 pct.
    Bache Securities (Japan) Ltd, Hoare Govett (Far East) Ltd
and J. Henry Schroeder Bank and Trust Co and the six new
syndicate members -- E.F. Hutton International Inc, Shearson
Lehman Brothers Asia Inc, Dresdner Bank AG, Swiss Bank Corp
International Asia Inc, Sogen Security Corp and Swiss Union
Philips and Drew Ltd -- will each have a 0.07 pct share in the
securities industry.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14663" NEWID="9142">
<DATE>25-MAR-1987 02:41:03.92</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0084&#31;reute
u f BC-CHINA'S-FIRST-JOINT-V   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA'S FIRST JOINT VENTURE BANK REPORTS PROFIT</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>China's first joint venture bank, Xiamen
International Bank (XIB), reported a group net profit of about
14 mln Hong Kong dlrs in 1986, the bank's first full year of
operation.
    General manager Liu Shuxun declined to give a 1987 profit
forecast, saying targets were under study.
    Assistant general manager Wang Hongshan said the group's
outstanding loans at end-1986 totalled 620 mln Hong Kong dlrs,
up from 530 mln at end-1985. Deposits and interbank borrowings
rose to 680 mln dlrs from 550 mln, he told Reuters.
    Liu said most of the group's profit came from the parent
company rather than its two wholly-owned subsidiaries &lt;Xiamen
International Finance Co Ltd> in Hong Kong and &lt;Luso
International Bank Ltd> in Macao.
    The joint venture bank began operating in September 1985
but did not officially open until March 1986.
    Liu said the share in the joint venture of the foreign
partner, Hong Kong-listed &lt;Panin Holdings Ltd>, had been cut
last year to 49 pct from 60 pct. This was done because foreign
banks felt the XIB's reputation would be improved if the three
Chinese partners collectively held a majority stake, he said.
    Liu said news reports about problems concerning Panin were
unfounded, but he did not elaborate. Panin Holdings reported a
loss of 1.99 mln Hong Kong dlrs in 1986 after a net profit of
268,000 dlrs in 1985.
    The Chinese partners are Industrial and Commercial Bank of
China, Fujian branch, whose share rose to 23.5 pct from 15,
Fujian Investment and Enterprise Corporation 17.5 pct (15) and
Xiamen Construction and Development Corporation 10 pct (10).
    One foreign banker said Xiamen International Bank faced the
same problems as foreign bank branches in trying to compete on
unequal terms with state-owned banks.
    The foreign banking market in Xiamen is thin and almost
saturated, he added.
    Officials of the joint venture bank said they benefitted
from contacts made through its three Chinese partners. But the
foreign banker, who asked not to be named, said it faced
internal competition from the Industrial and Commercial Bank.
    Apart from Xiamen International Bank and the International
Agricultural Development Bank planned by the World Bank and the
state-owned Agricultural Bank of China, Xiamen has eight
foreign bank branches or representative offices, mostly of Hong
Kong or overseas Chinese banks.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14664" NEWID="9143">
<DATE>25-MAR-1987 02:45:23.46</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0090&#31;reute
u f BC-BANGLADESH'S-PAYMENTS   03-25 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH'S PAYMENTS DEFICIT NARROWS IN OCTOBER</TITLE>
<DATELINE>    DHAKA, March 25 - </DATELINE><BODY>Bangladesh recorded an overall balance of
payments deficit of 8.3 mln U.S. Dlrs in October against a
10.33 mln deficit in September and a 6.67 mln surplus in
October 1985, Central Bank officials said.
    The country's current account deficit narrowed to 10.69 mln
dlrs in October from 79 mln in September and 11.75 mln in
October 1985.
    The October trade deficit narrowed to 36.36 mln dlrs from
160 mln in September and 83.79 mln in October 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14665" NEWID="9144">
<DATE>25-MAR-1987 02:49:33.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C T
&#22;&#22;&#1;f0094&#31;reute
u f BC-PEKING-FACES-WATER-RA   03-25 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>PEKING FACES WATER RATIONING</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>Worsening drought conditions in Peking
may force the authorities to ration water for industry and
farming this summer, the New China news Agency said.
    The agency quoted city officials as saying rainfall last
year was 75 millimetres lower than in 1985, and its two main
reservoirs are now only one-quarter full.
    Peking's underground water level is 60 centimetres lower
than last year, reducing daily supplies by 50,000 tons.
    The officials said daily water supplies in urban Peking
will fall 160,000 to 260,000 tons short of demand during the
hottest days this summer.
    They called for stricter control of water consumption and
greater recycling of water, adding that there was no hope of
alleviating the shortage until a new water mill starts up in
one year's time.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14666" NEWID="9145">
<DATE>25-MAR-1987 02:56:42.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0098&#31;reute
u f BC-U.S.-CHINA-CIGARETTE   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S.-CHINA CIGARETTE FILTER JOINT VENTURE SET UP</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>Jiangsu Tobacco Corp and &lt;Celanese
Fibres Operations Ltd> yesterday established China's first
cigarette filter joint venture, the Nantong Cellulose Fibres
Co, the China Daily said.
    The joint venture factory, due to start operations in 1989,
will be able to produce up to 10,000 tonnes of cellulose fibre
annually, it said. Cellulose fibre is the main component of
cigarette filters, which China has always imported.
    It said Celanese Fibres owns 30.68 pct of the Jiangsu
province-based joint venture which has a total investment of
35.17 mln dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14667" NEWID="9146">
<DATE>25-MAR-1987 02:57:33.40</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F M C
&#22;&#22;&#1;f0099&#31;reute
u f BC-TWO-JAPANESE-STEELMAK   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TWO JAPANESE STEELMAKERS TO CUT CAPITAL SPENDING</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>Nippon Steel Corp &lt;NSTC.TOK> said it will
cut its capital spending by 36.4 pct to 105 billion yen in the
year starting April 1 from a year earlier due to the
postponement of furnace improvements.
    &lt;Nisshin Steel Co Ltd> said it will spend 10.7 billion yen
in 1987/88 for rationalisation and facility improvements, down
from 32.1 billion a year earlier, after completion of large
construction projects in 1986/87.
    But capital spending by Nippon Kokan K.K. &lt;NKKT.TOK> to
improve and increase its production facilities will rise to
94.90 billion yen from 64 billion, the company said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14668" NEWID="9147">
<DATE>25-MAR-1987 03:11:14.58</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0114&#31;reute
u f BC-NISSAN-AFFILIATE-TO-A   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NISSAN AFFILIATE TO ACQUIRE U.S. AUTOPARTS MAKER</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>&lt;Kokusan Kinzoku Kogyo Co Ltd> (KKK), a
Japanese autoparts maker owned 25 pct by Nissan Motor Co Ltd
&lt;NSAN.T>, has exchanged a memorandum to acquire over 50 pct of
U.S. Autoparts firm &lt;Master-Cast Co> to avoid losses on U.S.
Sales caused by the yen's rise against the dollar, a KKK
spokesman said.
    The final agreement should be signed this year when KKK
forms the new company &lt;Alfa K Technology>, he said.
    The new firm should supply all the U.S. Major car makers,
including Ford Motor Co &lt;F>, General Motor Corp &lt;GM> and
Chrysler Corp &lt;C>, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14669" NEWID="9148">
<DATE>25-MAR-1987 03:12:06.81</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0115&#31;reute
f f BC-DUTCH-STATE-LAUNCHES   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DUTCH STATE LAUNCHES NEW EIGHT YEAR BULLET AT 6-1/4 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14670" NEWID="9149">
<DATE>25-MAR-1987 03:13:24.82</DATE>
<TOPICS><D>money-fx</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0116&#31;reute
u f BC-YEN-MAY-RISE-TO-140-T   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>YEN MAY RISE TO 140 TO THE DOLLAR, NIKKEIREN SAYS</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The yen could rise to 140 yen to the
dollar, a leading Japanese businessman said.
    Bumpei Otsuki, president of the influential Japan
Federation of Employers' Associations, (Nikkeiren), told
reporters: "The yen might rise as far as 140 (to the dollar).
The U.S. Economy is not good, and as long as the U.S. Economy
is not good, the U.S. Will put various pressures (on Japan)."
    "The yen's level depends on the condition of the U.S.
Economy rather than Japan's economy, and as long as the
American situation is bad, the yen will continue to rise," he
said.
    To cope with the negative impact of the strong yen,
Japanese enterprises must strive to cut costs by all means,
including holding down wages as much as possible, Otsuki said.
    He rejected recent calls from some government quarters for
wage increases this year as a means of raising private
consumption and thus boosting domestic demand.
    "We have to keep wages as low as possible," he said.
    He also said the yen's large and rapid rise is depressing
the outlook for the Japanese economy, noting that in addition
to hurting exporters it is also damaging domestic market
manufacturers through cheap imports.
    Parts of the service sector are also threatened, Otsuki
said.
    Tertiary industries provide services to manufacturers and a
downturn in manufacturing profits will adversely affect service
industries, he said.
    It is also doubtful whether the tertiary sector can fully
employ those put out of work in the manufacturing sector, he
said.
    Profits of service sector companies are likely to fall in
the business year ending in March 1988, leading to a possible
recession in the Japanese economy, he said.
    Otsuki said economic growth is unlikely to pick up beyond
levels experienced in 1986.
    The government's Economic Planning Agency said last week
the economy grew at 2.5 pct in 1986, the worst performance
since 1974 when the economy shrank 1.4 pct due to the first oil
price crisis.
    In order to stimulate domestic demand and boost the
economy, tax reforms aimed at bringing down the cost of land
and reforming the nation's housing stock are needed, along with
steps to bring down the high cost of commodities, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14671" NEWID="9150">
<DATE>25-MAR-1987 03:18:18.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>sse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0125&#31;reute
u f BC-SINGAPORE-SECURITIES   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE SECURITIES MARKET CONSIDERING CHANGES</TITLE>
<DATELINE>    SINGAPORE, March 25 - </DATELINE><BODY>The Stock Exchange of Singapore Ltd
is looking at a new settlement and clearing system and a
corporate disclosure format that would make financial data more
readily available, George Teo, deputy chairman of the exchange,
said.
    He told a conference organised by the Development Bank of
Singapore Ltd that Singapore wants to develop the fixed rate
securities market. He said a state securities market, along the
same lines as the U.S. Government securities market, will be
developed to provide a benchmark for corporate bonds.
    Teo said the fixed rate securities market will pave the way
for companies to raise fixed rate funds.
    Referring to a proposed change in the broking commission
structure, Teo said the exchange is likely to introduce a
sliding scale structure instead of a negotiated commission
structure. He said the negotiated structure works against small
investors, who play an important role in the market.
    The market capitalisation of the Stock Exchange of
Singapore increased to 42 billion U.S. Dlrs in January 1987
from 32 billion U.S. Dlrs in early 1986, he said.
    Teo said the government has picked 15 companies to
participate in a privatisation program which strives to create
opportunities for investors through the sale of 380 mln dlrs
worth of shares a year. It will try to increase alternative
investment available to investors, he said.
    He cautioned against problems in a more competitive
securities market, adding that the possibility of insider
trading is increased when securities dealing, corporate finance
and investment advisory functions are conducted under one roof.
But he said the future direction of Singapore's securities
industry will be dictated by international trends.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14672" NEWID="9151">
<DATE>25-MAR-1987 03:19:48.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0129&#31;reute
b f BC-NEW-DUTCH-BULLET-STAT   03-25 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW DUTCH BULLET STATE LOAN AT 6-1/4 PCT DUE 1995</TITLE>
<DATELINE>    AMSTERDAM, March 25 - </DATELINE><BODY>The Dutch Ministry of Finance plans a
new fixed eight-year state loan at an unchanged 6-1/4 pct.
    The amount and issue price will be set at tender next
Tuesday, March 31. Payment is on May 1 and coupon date is May
1.
    No early redemption will be permitted.
    The issue is the fourth for payment this year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14673" NEWID="9152">
<DATE>25-MAR-1987 03:30:42.64</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0138&#31;reute
f f BC-BRUSSELS---Ferruzzi-s   03-25 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> BRUSSELS - Ferruzzi says it will pay 630 mln dlrs to CPC International for European mills.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14674" NEWID="9153">
<DATE>25-MAR-1987 03:34:24.89</DATE>
<TOPICS><D>coffee</D><D>tea</D><D>rubber</D></TOPICS>
<PLACES><D>vietnam</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0141&#31;reute
u f BC-VIETNAM-TO-RESETTLE-3   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>VIETNAM TO RESETTLE 300,000 ON STATE FARMS IN 1987</TITLE>
<DATELINE>    BANGKOK, March 25 - </DATELINE><BODY>Vietnam will resettle 300,000 people on
state farms known as new economic zones in 1987, to create jobs
and grow more high-value export crops, the communist party
newspaper Nhan Dan said.
    Yesterday's edition, received here today, said Vietnam
would invest one billion dong, including the costs of
relocation, in 272 new economic zones. About one third of that
sum would be spent on export crops such as coffee, tea, rubber
and pepper in the Central Highlands, it said.
    Since 1975, Vietnam has resettled about three million
people from cities and crowded river deltas to the zones.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14675" NEWID="9154">
<DATE>25-MAR-1987 03:35:25.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D><D>uk</D><D>west-germany</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0143&#31;reute
u f BC-EC-MINISTERS-FAIL-TO   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>EC MINISTERS FAIL TO END DEADLOCK ON RESEARCH PLAN</TITLE>
<AUTHOR>    By Paul Mylrea, Reuters</AUTHOR>
<DATELINE>    BRUSSELS, March 25 - </DATELINE><BODY>The European Community (EC) has failed
to agree on a high-technology research program because of
opposition from Britain and West Germany, diplomats said.
    But Belgian Research Minister Guy Verhofstadt told
reporters the two had been given just over a week to end their
opposition or risk plunging EC research into a crisis.
    The so-called "Framework Program" proposed by the EC's
Executive Commission was designed to boost research in areas
such as computers, biotechnology and telecommunications and
combat U.S. And Japanese domination in these fields.
    The five-year program was due to start at the beginning of
this year, but was delayed by calls from Britain, France and
West Germany for cuts in the proposed budget of 7.7 billion
European Currency Units (Ecus), diplomats said.
    The EC Commission had already cut the budget from 10.5
billion Ecus, but under EC law the program needs the approval
of all member states before it can be launched.
    France has withdrawn its objections and backed a new
compromise budget proposed by Verhofstadt to trim spending.
    But Britain is continuing its demands for further, sharp
cuts in the budget.
    West Germany, which yesterday appeared to be ready to
accept the compromise, was also holding back.
    Verhofstadt, who chaired the lengthy meeting, said he had
given the two states until April 3 to withdraw their
opposition.
    But if one or both failed to do so, the EC would be left
without a research program, leaving no money for schemes such
as the EC's Esprit information technology drive.
    "If that happened ... There would be a grave crisis in
Europe's scientific and research policy," Verhofstadt said,
adding it could mean research teams being disbanded.
    Diplomats said West Germany was close to agreeing to the
compromise, which would limit new spending to 5.4 billion Ecus
by allowing for cash already set aside for future projects.
    The plan would also set aside at least 16 pct of the 5.4
billion Ecus for spending after the end of the five-year
program, they said. But Britain still maintained the
allocations were much too high.
    Britain's Research Minister Geoffrey Pattie faced a tough
fight to convince his government colleagues they should accept
an increase in spending beyond the 4.2 billion Ecu level so far
demanded by Britain, one diplomat added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14676" NEWID="9155">
<DATE>25-MAR-1987 03:41:43.67</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>madagascar</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0157&#31;reute
u f BC-MADAGASCAR-EXTENDS-AM   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>MADAGASCAR EXTENDS AMOCO OIL EXPLORATION AGREEMENT</TITLE>
<DATELINE>    ANTANANARIVO, March 25 - </DATELINE><BODY>Madagascar extended its oil
exploration agreement with the U.S. Firm Amoco Corp &lt;AN> for 17
months to allow for further studies of the Morondava basin on
the southwest coast, a government statement said.
    It said the existing five-year agreement, due to expire
this July 24, was extended until the end of 1988 to allow for
additional geological and geophysical studies.
    Amoco has so far laid 7,100 km of seismic lines and sunk
five exploration wells in the Morondava basin. It may drill a
further three wells before the end of the extended exploration
period, the statement said.
    Madagascar has signed oil exploration agreements with four
foreign oil companies since 1981. But despite promising
indications of large reserves, no commercial production plans
have yet been announced.
    The foreign firms - Amoco, Occidental Petroleum Corp &lt;OXY>,
Mobil Corp &lt;MOB> and a unit of &lt;Ente Nazionale Idrocarburi> -
are working in partnership with the National Military Office
for Strategic Industries (OMNIS).
    Roland Ratsimandresy, the director general of OMNIS, said
at a ceremenony to sign the extension of the Amoco agreement
that his department would intensify oil exploration with its
existing partners and would soon offer a new round of
exploration licences.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14677" NEWID="9156">
<DATE>25-MAR-1987 03:43:18.37</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F C G T
&#22;&#22;&#1;f0161&#31;reute
b f BC-FERRUZZI-DEAL-WITH-CP   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>FERRUZZI DEAL WITH CPC WORTH 630 MLN DLRS</TITLE>
<DATELINE>    BRUSSELS, March 25 - </DATELINE><BODY>The Ferruzzi Group's holding company
Agricola Finanziara SpA will pay 630 mln dlrs for the European
corn wet milling business of CPC International Inc under the
agreement reached in principle between the two companies, a
statement by Ferruzzi released by its Brussels office said.
    When CPC announced the agreement yesterday in New York, it
said only that the price would be in excess of 600 mln dlrs.
    Ferruzzi said the deal is subject to agreement on several
clauses of the contract and needs government authorisations.
    It said the deal would involve 13 starch factories
employing about 5,000 people in eight European Community
countries plus facilities and commercial operations in other EC
states.
    The factories have a capacity to produce the equivalent of
1.6 mln tonnes of starch in starch and by-products a year, or
about one third of EC production, from about 2.7 mln tonnes of
cereals.
    Ferruzzi said the acquisition of these assets would extend
its presence in the European agro-industrial industry both
geographically and in terms of products.
    It said it is already the principal EC producer of sugar
and of soya oil and cake, and the major cereal trader.
    It noted that EC output of isoglucose is subject to maximum
quotas, of which CPC currently holds a 25 pct share, and said
it foresaw an increase in other industrial uses of starch in
the future, notably in the production of ethanol for fuel.
    Raul Gardini, president of the Ferruzzi Group, said the
present management of the CPC milling business will be asked to
remain in their posts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14678" NEWID="9157">
<DATE>25-MAR-1987 03:50:41.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0171&#31;reute
u f BC-AIRLINES-CAN-INCREASE   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>AIRLINES CAN INCREASE HONG KONG/MANILA FLIGHTS</TITLE>
<DATELINE>    MANILA, March 25 - </DATELINE><BODY>State-owned Philippine Airlines Ltd
(PAL) said it has agreed with Cathay Pacific Airways Ltd
&lt;CAPH.HKG> to an increase in seat allocations on the busy
Manila-Hong Kong route.
    A spokesman told Reuters a memorandum of understanding
would be signed later this week between the British and
Philippine governments to allow the current total of 32 flights
a week to be increased. "There are no immediate plans for more
flights but it gives us flexibility," he said.
    PAL said an agreement reached with British Airways would
allow each carrier to keep three London-Manila flights weekly.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14679" NEWID="9158">
<DATE>25-MAR-1987 04:00:43.62</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0178&#31;reute
b f BC-SWIRE-PACIFIC-LTD-&lt;SW   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>SWIRE PACIFIC LTD &lt;SWPC.HKG> YEAR 1986</TITLE>
<DATELINE>    HONG KONG, March 25 -
    </DATELINE><BODY>Shr "A" 138.9 H.K. Cents vs 97.4 (adjusted)
    Shr "B" 27.8 cents vs 19.5
    Final div "A" 44 cents vs 32.3, making 62 vs 47 (adjusted)
    Final div "B" 8.8 cents vs 6.5, making 12.4 vs 9.4
    Net 1.78 billion dlrs vs 1.23 billion
    Turnover 16.6 billion vs 13.7 billion
    Note - Net profits excluded extraordinary gains of 1.38
billion dlrs vs 59.1 mln. The non-recurrent earnings mainly
derived from the firm's sale of a 15.75 pct stake in Cathay
Pacific Airways Ltd &lt;CAPH.HKG> in April.
    Note - Earnings per share and dividends have been adjusted
for the firm's two-for-one bonus issue made in April.
    Note - Bonus issue one-for-five for both "A" and "B" shares
against two-for-one.
    Note - Dividends payable June 2, books close April 16 to
24.
    Note - Net asset value per "A" share 6.94 dlrs vs 4.81 and
per "B" share 1.39 dlrs vs 0.96.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14680" NEWID="9159">
<DATE>25-MAR-1987 04:05:39.33</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0181&#31;reute
f f BC-BAT-Industries-1986-p   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BAT Industries 1986 pretax profit 1.39 billion stg vs 1.17 billion
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14681" NEWID="9160">
<DATE>25-MAR-1987 04:11:21.19</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;f0186&#31;reute
b f BC-BAT-INDUSTRIES-PLC-&lt;B   03-25 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>BAT INDUSTRIES PLC &lt;BTI.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 25 -
    </DATELINE><BODY>Shr 53.51p vs 45.72p
    Div 8.8p vs 7.35p making 14.3p vs 12.1p
    Turnover 19.17 billion stg vs 17.05 billion
    Operating profit 1.48 billion vs 1.29 billion
    Pretax profit 1.39 billion vs 1.17 billion
    Tax 524 mln vs 430 mln
    NOTE - The company said shareholders would be given the
option of receiving dividend in cash, ordinary shares or
combination of the two.
    Operating profit includes -
    Commercial activities 1.08 billion vs 988 mln
    Financial services 263 mln vs 135 mln
    Share of associated companies 139 mln vs 163 mln
    Investment income 150 mln vs 166 mln
    Interest paid 238 mln vs 286 mln
    Minorities 76 mln vs 63 mln
    Extraordinary credit 75 mln vs 34 mln debit
    Transfer to revaluation reserve 85 mln vs 106 mln
    Profit attributable 793 mln vs 673 mln
    Required inflation retention 77 mln vs 147 mln
    Trading profit 1.51 billion vs 1.29 billion
    Trading profit includes -
    Tobacco 764 mln vs 738 mln
    Retailing 211 mln vs 186 mln
    Paper 217 mln vs 168 mln
    Financial services 282 mln vs 135 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14682" NEWID="9161">
<DATE>25-MAR-1987 04:20:23.58</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0199&#31;reute
u f BC-SWIRE-PLANS-BONUS-ISS   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SWIRE PLANS BONUS ISSUE ON HIGHER 1986 PROFITS</TITLE>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>Swire Pacific Ltd &lt;SWPC.HKG> said it
plans for a one-for-five bonus issue for both its "A" and "B"
shares following an earlier report of a 44.7 pct jump in 1986
net profits to 1.78 billion H.K. Dlrs.
    The company also announced final dividends of 44 cents per
"A" share and 8.8 cents per "B" share against 32.3 and 6.5 cents a
year ago.
    It recorded extraordinary gains of 1.38 billion dlrs which
mainly derived from the sale in April of a 15.75 pct stake in
Cathay Pacific Airways Ltd &lt;CAPH.HKG> in line with the
floatation of the airline.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14683" NEWID="9162">
<DATE>25-MAR-1987 04:26:13.50</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0212&#31;reute
f f BC-Japan-Trade-Ministry   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Japan Trade Ministry asks trade houses, exporters to reduce dlr sales, sources
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14684" NEWID="9163">
<DATE>25-MAR-1987 04:29:11.28</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0214&#31;reute
u f BC-SRI-LANKAN-GOVERNMENT   03-25 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>SRI LANKAN GOVERNMENT TO STOP IMPORTING SUGAR</TITLE>
<DATELINE>    COLOMBO, March 25 - </DATELINE><BODY>The Food Department will no longer
import sugar from April 1, senior officials of the Food and
Cooperatives Ministry and the Department told Reuters.
    They said the decision was taken after the Sugar Importers
Association asked that the sugar trade be further liberalised.
    "The Food Department will cease trading in sugar and will no
longer hold a buffer stock," a senior official said.
    He said the government has finalised an agreement with
E.D.F.Man (Sugar) Ltd under which E.D.F.Man will hold a buffer
stock on the government's behalf of 20,000 tonnes, against the
45,000 tonne buffer stock usually held by the Department.
    Officials said the size of the buffer stock has been
reduced because the private sector will hold its own stocks.
    The agreement with E.D.F. Man includes details such as
trigger pricing mechanisms, they said.
    Four months ago the Department allowed the private sector
to import sugar without government clearance. The Department
and the private sector each imported around 115,000 tonnes of
sugar last year, when national consumption was 280,000 tonnes.
    An Importers Association official said that "even if the
Department no longer imports sugar, we would not necessarily
buy more."
    This is because the Association would still have to compete
with the Cooperatives Wholesale Establishment (CWE), he said.
    The CWE is a semi-government body and the official said
arrangements are being made for state cooperatives and holders
of food subsidy stamps to draw their sugar from it, starting
April 1.
    Ministry officials said the CWE can either import sugar or
buy it from a local bonded warehousing scheme run by E.D.F. For
the past two years.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14685" NEWID="9164">
<DATE>25-MAR-1987 04:32:32.36</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0219&#31;reute
r f BC-NEW-DUTCH-SPECIAL-ADV   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW DUTCH SPECIAL ADVANCES TOTAL 4.2 BILLION</TITLE>
<DATELINE>    AMSTERDAM, March 25 - </DATELINE><BODY>The Dutch Central Bank said it
allocated 4.183 billion guilders at tender for the new 5.3 pct,
nine-day special advances.
    Bids were fully met for the first 200 mln guilders and for
40 pct above.
    The new advances for the period March 25 to April 4,
replace current 5.3 pct, five day advances totalling 4.003
billion guilders which expire today.
    Money brokers said yesterday they expected the Bank to
allocate about 3.5 billion guilders.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14686" NEWID="9165">
<DATE>25-MAR-1987 04:35:12.91</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0225&#31;reute
r f BC-DANISH-FEBRUARY-CONSU   03-25 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>DANISH FEBRUARY CONSUMER PRICES FALL 0.1 PCT</TITLE>
<DATELINE>    COPENHAGEN, March 25 - </DATELINE><BODY>Consumer prices fell 0.1 pct in
February, after a rise of 0.2 pct in January and no change in
February 1986, the National Statistics Office said.
    The index, base 1980, fell to 154.5 in February from 154.6
in January, against 147.4 in February 1986, giving a
year-on-year increase of 4.8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14687" NEWID="9166">
<DATE>25-MAR-1987 04:39:07.53</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0232&#31;reute
b f BC-JAPAN-ASKS-TRADERS,-E   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN ASKS TRADERS, EXPORTERS TO CUT DOLLAR SALES</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Ministry of International Trade and
Industry (MITI) has asked about 30 Japanese trading houses and
exporters to refrain from excessive dollar selling, trading
house officials said.
    The officials told Reuters MITI asked them to moderate
their foreign exchange trading because the excessive rise in
the yen will have unfavourable effects on the economy. It made
the request by telephone.
    A MITI official said the ministry has conducted a survey of
foreign exchange trading by trade houses and exporters. But he
said it was not aimed at moderating dollar selling.
    The trading house officials said MITI had asked them to
undertake foreign exchange transactions with due consideration
to the adverse effects excessive exchange rate movements would
have on the economy.
    The MITI official said MITI undertakes such surveys when
exchange rates fluctuate widely. A similiar survey was made
when the currency fell to the previous record low of 149.98 on
January 19. It hit a new record low of 148.20 yen yesterday.
    He said the survey showed currency transactions by trade
houses and exporters contributed little to the dollar fall.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14688" NEWID="9167">
<DATE>25-MAR-1987 04:40:19.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0236&#31;reute
b f BC-BANK-OF-JAPAN-TO-SELL   03-25 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN TO SELL 300 BILLION YEN IN BILLS</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Bank of Japan will sell 300 billion
yen of government financing bills tomorrow under a 29-day
repurchase accord maturing April 24 to soak up a projected
money market surplus, market sources said.
    The surplus is estimated at 350 billion yen, due mainly to
excess bank holdings of yen funds after heavy dollar purchases
in the foreign exchange market yesterday, money traders said.
    The yield on the bills for sales to banks and securities
houses from money houses will be 3.9495 pct against the 3.9375
pct discount rate for one-month commercial bills and the
4.58/42 pct yield on one-month certificates of deposit today.
    The operation will put the outstanding bill supply at about
1,900 billion yen, money traders said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14689" NEWID="9168">
<DATE>25-MAR-1987 04:47:50.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0247&#31;reute
b f BC-ABBEY-NATIONAL-HAS-ON   03-25 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>ABBEY NATIONAL HAS ONE BILLION DLR EURO CD PACT</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Abbey National, the second largest
building society in the U.K., Said it has arranged a one
billion dlr euro-certificate of deposit program.
    It said this is the largest such program to date for a
building society and the first to be denominated in U.S.
Dollars.
    Citicorp Investment Bank Ltd is lead manager and arranger
for the program and will act as a dealer, along with Shearson
Lehman Brothers International, Swiss Bank Corp International
Ltd and S.G. Warburg and Co Ltd.
    Abbey National has been very active in the international
capital markets ever since building societies were permitted by
law to tap the wholesale markets.
    The building society's general manager, finance, James
Tyrrell, said in a statement the program is part of Abbey's
strategy of spreading its funding option from what has recently
been medium/long term into shorter term instruments.
    He said this also widens Abbey's investor base.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14690" NEWID="9169">
<DATE>25-MAR-1987 05:00:43.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0266&#31;reute
u f BC-ENSERCH-ISSUES-100-ML   03-25 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>ENSERCH ISSUES 100 MLN DLR CONVERTIBLE BOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Enserch Inc is issuing 100 mln dlrs of
convertible debt due October 4, 2002 carrying an indicated
coupon of six to 6-3/8 pct and priced at par, Salomon Brothers
International said as lead manager.
    Enserch's stock closed at 22-1/2 last night on the New York
Stock Exchange. The conversion premium is indicated to be 20 to
23 pct. The securities are non-callable for three years.
    There is a 1-1/2 pct selling concession and two pct
combined management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14691" NEWID="9170">
<DATE>25-MAR-1987 05:00:56.31</DATE>
<TOPICS><D>money-fx</D><D>saudriyal</D></TOPICS>
<PLACES><D>bahrain</D><D>uk</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0267&#31;reute
r f BC-MIDDLE-EAST-CURRENCY   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDDLE EAST CURRENCY MARKET SEES KEY CHANGES</TITLE>
<AUTHOR>    By Stephen Jukes, Reuters</AUTHOR>
<DATELINE>    BAHRAIN, March 25 - </DATELINE><BODY>Middle East currency dealers meet in
Abu Dhabi this weekend at a time of fundamental change in their
business, which has seen a growing volume of trade shift from
the Arab world to London.
    The 14th congress of the Inter-Arab Cambiste Association
also comes at a time when the prospect of a unified Gulf
currency system is more real that at any time this decade.
    Foreign exchange traders and bank treasurers said these
issues, and the slide of the Lebanese pound, can be expected to
be major talking points.
    About 250 traders and treasurers from some 115 banks --
including some in London and other major non-Arab financial
centres -- are expected to attend the conference which begins
on on Saturday.
    Bankers said it is hard to avoid the impression that a
growing proportion of transactions in the Saudi riyal market,
by far the largest in the region, is being carried out in
London.
    The market had been dominated by Saudi Arabia's 11 banks,
foreign exchange houses in the Kingdom and offshore banks in
Bahrain. But bankers said more and more Saudi and Bahrain-based
banks are boosting their treasury operations in London.
    As recession hit the Middle East and the need for trade
finance in the region declined, many offshore banks in Bahrain
ran down their currency operations. None of the four major U.K.
Clearing banks now has a dealing room on the island.
    The two major Bahrain-based international banks, &lt;Arab
Banking Corp> and &lt;Gulf International Bank BSC> have increased
their presence in London and Saudi banks are busy upgrading
representative offices to branch status to allow dealing.
    One economist said: "It is cheaper to run a riyal book in
London than staff an expensive offshore operation in Bahrain...
There is now the nucleus of a two-way market in London."
    Jeddah-based &lt;Riyad Bank> set up as a licensed deposit
taker in London in 1984, while its main rival in Saudi Arabia,
&lt;National Commercial Bank> (NCB) won a licence in November
1986.
    The major market maker has traditionally been London-based
consortium bank &lt;Saudi International Bank> but the kingdom
joint-venture &lt;Saudi American Bank> (SAMBA) also upgraded its
London operation to deposit taker status in mid-February.
    One senior currency trader in Riyadh said: "Inevitably the
volume of business in London has gained pace with the two new
licences for NCB and SAMBA, but there is no question that most
of the liquidity still rests in Saudi Arabia."
    Currency traders said the shift to London in the Saudi
riyal market is difficult to quantify.
    Bahrain Monetary Agency figures show regional currency
deposits held by offshore banks, most in Saudi riyals, dropped
to the equivalent of 12.2 billion dlrs at end-September 1986
from 13.4 billion at end-1985 and a 1983 peak of 15.0 billion.
    The shift has prompted changes in dealing habits. Riyal
trading in the Gulf on Saturdays and Sundays has become very
quiet with London closed while some Saudi and Bahrain banks now
staff offices on Friday, the Gulf weekend. Traders also expect
&lt;Arab National Bank> to step up London operations.
    Traders say it is difficult to foresee the riyal market
moving completely out of the region, partly because of local
demand and partly because of what is seen as the Saudi Arabian
Monetary Agency's (SAMA) desire to moderate
internationalisation of the riyal and protect it from undue
speculation.
    There have been far fewer signs of the Kuwaiti dinar market
shifting from its natural base of Kuwait and trading in Bahrain
and London is still limited.
    But for the first time since the formation of the six
nation Gulf Cooperation Council (GCC) in 1981 there are signs
that a much mooted currency union could come into force soon.
    Currency traders said it remains unclear what form a final
currency union would take for the six states -- Saudi Arabia,
Kuwait, Bahrain, Oman, Qatar and the United Arab Emirates.
    But plans to link the six currencies in a European Monetary
System style with a common peg have been discussed at high
level and could be a topic on the GCC's annual summit expected
to be held in Saudi Arabia late in the year.
    One dealer said: "A lot of exposure is being given to
discussions and plans appear to be quite advanced. But in the
end a political decision has to be taken to give the go-ahead."
    One open question is that of a common peg for currencies.
    The idea of linking the six currencies has been debated
since the start of the GCC. The Kuwaiti dinar is currently
linked to a basket of currencies while the other five
currencies are either officially or in practice linked to the
U.S. Dollar.
    Some traders said a currency union could mean speculation
against the Saudi riyal rubbing off on other Gulf currencies,
but plans call for a permitted divergence in the system of
7-1/4 pct, large enough to avoid sudden strains.
    Another topic for debate is expected to be the continued
slide of the Lebanese pound against the dollar and the
undermining of the effective capital base of Lebanese banks.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14692" NEWID="9171">
<DATE>25-MAR-1987 05:02:55.15</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>belgium</D><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0270&#31;reute
u f BC-BELGOLUX-TRADE-SWINGS   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGOLUX TRADE SWINGS INTO JANUARY DEFICIT</TITLE>
<DATELINE>    BRUSSELS, March 25 - </DATELINE><BODY>The Belgo-Luxembourg Economic Union
recorded a provisional trade deficit of 9.45 billion francs in
January after a December surplus of 15.32 billion francs,
revised upwards from a provisional surplus of 11.94 billion,
the National Statistics Office said.
    In January 1986, the union recorded a deficit of 23.31
billion francs.
    January imports fell to a provisional 228.86 billion francs
from 240.24 billion in December and 281.65 billion a year
earlier, but exports were also lower, at 219.41 billion francs
against 255.56 billion and 258.34 billion respectively.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14693" NEWID="9172">
<DATE>25-MAR-1987 05:05:15.93</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;f0274&#31;reute
u f BC-GUINNESS-SEEKS-U.K.-I   03-25 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>GUINNESS SEEKS U.K. INJUNCTION AGAINST SAUNDERS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Guinness Plc &lt;GUIN.L> will seek an
injunction in the U.K. High Court today to freeze the assets of
former Chairman Ernest Saunders in its attempts to recover 5.2
mln stg paid to a Jersey company as part of the company's
takeover battle for &lt;Distillers Co Plc>, a spokesman said.
    He said the court move aimed to freeze Saunders' assets up
to the value of the sum it wanted to recover. It was uncertain
whether the court would reach any decision on the request
today. Guinness said last week it planned to take legal action
to recover the funds, paid to non-executive director Thomas
Ward via the Jersey company.
    Lawyers representing Ward have said he saw the funds as his
reward for services performed during the takeover of
Distillers.
    Guinness is also planning a resolution at the annual
meeting in May to remove both Saunders and Ward from the
company's board.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14694" NEWID="9173">
<DATE>25-MAR-1987 05:06:54.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0279&#31;reute
u f BC-CITIBANK-LAUNCHES-CUR   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>CITIBANK LAUNCHES CURRENCY WARRANTS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Citibank NA is issuing up to 50,000
currency warrants which give the holder a call right on U.S.
Dollars from marks or yen, Citicorp Investment Bank Ltd said as
sole manager.
    Each warrant, priced at 47.50 dlrs, gives the holder the
right to purchase a nominal sum of 500 dlrs for either 182.50
marks or 149.50 yen between March 31, 1987 and March 31, 1989.
    The warrants will be listed in Luxembourg and pay date is
March 31. Exercise, requiring one day's notice, must be for a
minimum of 100 warrants through one currency only.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14695" NEWID="9174">
<DATE>25-MAR-1987 05:07:54.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0284&#31;reute
u f BC-MALAYSIA'S-FOREIGN-BO   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIA'S FOREIGN BORROWING HELD AT 1986 LEVEL</TITLE>
<DATELINE>    SINGAPORE, March 25 - </DATELINE><BODY>Malaysia's net external borrowings
for 1987 are expected to be maintained at around last year's
levels of about 1.45 billion ringgit, Zain Azraai, secretary
general to the Finance Ministry, told an investment seminar
here.
    Malaysia's debt service ratio will also be maintained at "a
level no higher than 20 pct," he said. "This is well within the
capacity of the nation to service."
    Azraai said the 1986 foreign borrowing level and projected
estimates of 1987 compared favourably with the peak of around
5.5 billion ringgit in 1982.
    Malaysia's external debts total 48 to 49 billion ringgit
and its debt service ratio exceeds 20 pct, the Development Bank
of Singapore Ltd, one of Singapore's four major local banks,
said in a report released this week.
    Azraai said: "While the growth in debt has been rapid in
recent years, it is still within the limits of prudence and
conscious efforts have been made and will continue to be made
to decelerate and restrain external borrowings."
    He said the Malaysian government is urgently addressing the
twin deficits of the Federal Budget and the balance of payments
which followed two recessions in the 1980s.
    Azraai said Malaysia's public sector deficit had risen due
to the contraction in the government's resources as well as the
rapid growth in public expenditures.
    With declining incomes and export earnings, the bases for
resource generation became limited, and the government will not
raise taxes because current tax margins are high compared to
Malaysia's neighbours, he said.
    "As such the remaining avenue for rationalising and
consolidating the budget is through expenditure reductions," he
said.
    Azraai said the Malaysian government's development
expenditures were cut by about 25 pct in 1987, while those of
state enterprises were reduced by 41 pct.
    He said: "A commitment has been undertaken to reduce the
budget deficit over time and to balance the Federal
government's budget current account deficit by 1989."
    Malaysian Finance Minister Daim Zainuddin presented a
budget for 1987 which foresees a deficit of 9.4 billion
ringgit, down from 11.6 billion in 1986, with federal spending
targetted at 27.4 billion, down from 30.8 billion, and revenue
at 18 billion against 19.2 billion.
    Azraai said the government will cut the size of the public
sector and privatize those operations which may be better run
by the private sector. New measures have been introduced to
boost the private sector and attract foreign investment.
    A higher proportion of foreign ownership, even up to 100
pct, is now possible for new investments in the manufacturing
sector made between October 1986 and December 1990, he said.
    "The long term prospects of the Malaysian economy are bright
... Indications are already available to show that the economy
is recovering and that growth will be positive and stronger
than originally expected," Azraai said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14696" NEWID="9175">
<DATE>25-MAR-1987 05:09:22.90</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0293&#31;reute
u f BC-BASF-U.S.-PROFIT,TURN   03-25 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BASF U.S. PROFIT,TURNOVER BOOSTED BY ACQUISITIONS</TITLE>
<DATELINE>    LUDWIGSHAFEN, West Germany, March 25 - </DATELINE><BODY>BASF AG &lt;BASF.F>
said net profit of its U.S. Operating company, BASF Corp, rose
last calendar year to 105 mln dlrs from 39 mln in 1985.
    Turnover rose by by more than one billion dlrs to 3.6
billion, the parent company said in a statement. The rise,
however, partly reflected the inclusion of the first full
business year of three acquisitions made in 1985. Excluding
these, BASF Corp turnover rose four pct from 1985.
    Acquisitions were the high-performance connecting materials
operations of Celanese Corp, Inmont Corp bought from United
Technologies and American Enka bought from AKZO NV &lt;AKZO.AS>.
    BASF said it expected a U.S. Investment of 240 mln dlrs in
1987, part of a five-year programme totalling one billion.
    U.S. Projects completed in 1986 included the second acrylic
acid plant in Freeport, Texas, a technical centre in
Southfield, Michigan, in which paint lines from automotive
plants can be refitted, and the new agricultural research
centre in Research Triangle Park in Durham, North Carolina.
    BASF said that work this year had begun in Geismar,
Louisiana, on plants for production of special amines and
polytetrahydrofuran, as well as for expansion of capacity for
producing tetrahydrofuran.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14697" NEWID="9176">
<DATE>25-MAR-1987 05:13:52.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0306&#31;reute
u f BC-SWISS-BANK-NET-FOREIG   03-25 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS BANK NET FOREIGN ASSESTS UP IN 4TH QUARTER</TITLE>
<DATELINE>    ZURICH, March 25 - </DATELINE><BODY>Net foreign assets of Swiss banks rose
by 3.5 billion Swiss francs to 71.2 billion francs in the
fourth quarter of 1986, due to increased interbank business and
purchases of foreign securities, the Swiss National Bank said.
    Assets rose 5.3 billion to 205.0 billion while liabilities
climbed 1.8 billion to 133.8 billion. For 1986 as a whole,
assets rose by 11.9 billion and liabilities by 3.0 billion.
    The level of fiduciary funds invested abroad rose by 3.2
billion to 223.0 billion, the first rise since the third
quarter of 1985. Funds invested in such accounts from abroad
were up by 3.2 billion to 180.7 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14698" NEWID="9177">
<DATE>25-MAR-1987 05:14:21.93</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;f0307&#31;reute
b f BC-BICC-PLC-&lt;BICC.L>-198   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>BICC PLC &lt;BICC.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 25 -
    </DATELINE><BODY>Shr 22.7p vs 20.3p.
    Final div 8.25p, making 11.75p vs 11p.
    Pre-tax profit 101 mln stg vs 92 mln.
    Attributable profit 45 mln vs 39 mln.
    Turnover 2.14 billion stg vs 2.11 billion.
 MORE
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14699" NEWID="9178">
<DATE>25-MAR-1987 05:15:27.75</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0309&#31;reute
u f BC-TAIWAN-MONEY-SUPPLY-R   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN MONEY SUPPLY RISES 48.22 PCT IN YEAR</TITLE>
<DATELINE>    TAIPEI, March 25 - </DATELINE><BODY>Taiwan's M-1B money supply rose a
seasonally adjusted 48.22 pct in the year to end-February,
after rising 54.96 pct in the year to January, a central bank
spokesman said.
    Month on month, M1-B fell 5.19 pct from January.
    Unadjusted February M1-B was 1,168 billion dlrs against
1,232 billion in January and 788 billion in February 1986.
    Money supply grew faster in January because the central
bank issued more currency for bonus payments made to workers at
the Lunar New Year, which fell on January 29 this year, banking
sources said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14700" NEWID="9179">
<DATE>25-MAR-1987 05:20:36.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>pakistan</D><D>afghanistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0314&#31;reute
u f BC-PAKISTAN-SAYS-AFGHAN   03-25 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>PAKISTAN SAYS AFGHAN AIR RAID KILLED ALMOST 150</TITLE>
<DATELINE>    ISLAMABAD, March 25 - </DATELINE><BODY>Almost 150 people were killed when
Afghan aircraft raided a number of Pakistani villages on
Monday, Pakistani officials said.
    The toll in Teri Mangal in Kurram Agency rose to 81, about
45 people were killed in Lwarai Mandi in North Waziristan
Tribal Agency and 23 died in Angur Adar, South Waziristan, the
officials said.
    The Soviet-backed Afghan government has not commented on
the reports.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14701" NEWID="9180">
<DATE>25-MAR-1987 05:23:51.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>zhao-ziyang</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0316&#31;reute
u f BC-CHINA-MUST-CUT-DEMAND   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA MUST CUT DEMAND, CONTINUE REFORMS, ZHAO SAYS</TITLE>
<AUTHOR>    By Mark O'Neill, Reuters</AUTHOR>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>China must cut excess demand and capital
investment in the face of budget and foreign exchange deficits
but will press ahead with wide-ranging economic reforms in
1987, Premier Zhao Ziyang told parliament.
    Zhao told the annual meeting of the National People's
Congress that while China cooled its overheated economy, cut
its trade deficit and raised national living standards in 1986,
serious imbalances remain.
    Zhao said total social demand exceeds total supply, and
demand for consumer goods, especially from state firms, is too
high. "(They) squander public funds to a serious extent ... (and
issue) excessive wage and bonus increases," he said.
    Failure to cut this excess will "result in reduced
accumulation of funds...And serve to corrupt social morality,"
Zhao said. He said there was a contradiction between low per
capita incomes and excessively high consumer demand.
    China needs to accumulate enormous funds for construction
in its initial stage of socialist modernisation and consumption
must match the available resources, he said.
    Zhao said there was a deficit in state finances in 1986
because of the sharp fall in world oil prices, the rising cost
of foreign exchange earnings through exports, reduced income
from customs duties and unreasonably heavy spending.
    Local authorities, departments and firms have been able to
retain more revenue since economic reforms in 1979. "(They)
unjustifiably developed processing industries and
non-productive construction," Zhao said.
    He said that unless effective measures are taken to curb
this practice, financial and credit deficits are likely to
increase in the next few years.
    Zhao said that if such deficits become excessive and last
too long, they will cause the over-issue of money, which in
turn will cause "disturbing inflation, a precipitous rise in
commodity prices and chaos in economic life."
    Another serious problem is that too many new construction
projects have been launched. Fixed asset investment outside the
state plan is over-extended and the pattern of such investment
is highly irrational, he said.
    Investment in energy, transport, telecommunications and raw
and semi-finished materials industries is inadequate and
investment in non-productive projects is too large, he said.
     Zhao said some departments and local authorities have
failed to take prompt and effective measures to correct this
investment imbalance, despite instructions to do so from the
State Council earlier this year.
     He said China's per capita output of grain and other farm
and sideline products is still very low and production of
grain, forestry, animal husbandry and fisheries rests on a
rather weak foundation.
     China's countryside is still in the development stage and
there is vast potential to be tapped through deep reforms, he
said, but did not elaborate.
    Zhao said the main task for reform in 1987 is to breathe
life into China's large and medium sized state firms, which
still do not have "a satisfactory combination of
responsibilities, powers and benefits."
    "We have yet to create conditions for giving the enterprises
full managerial authority and full responsibility for their own
profits and losses," he said.
    Currently, the firms are not responding rationally to
market changes and doing all the state requires of them, he
said. Their potential is not being fully tapped, he added.
    Zhao said that in 1987, China will speed up the reform of
its financial system, diversify credit services, encourage
competition among different financial institutions and promote
insurance services.
    He said the system of bank interest rates must be reformed,
with differential and floating rates being applied for
different periods of time.
    China must, under proper guidance, develop markets for the
circulation of funds in major cities and exploit the role of
financial markets in pooling and regulating funds, he added.
    Zhao said China must also expand the market for capital
goods such as rolled steel, coal, cement and timber. The lack
of such a market is the main reason why large state firms have
"yet to be fully invigorated," he said.
    He also promised a continuation of the labour contract
system under which all firms hire workers for a fixed period
and pay them according to their own methods, subject only to
state-set ceilings for wages and bonuses.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14702" NEWID="9181">
<DATE>25-MAR-1987 05:24:23.31</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F M C
&#22;&#22;&#1;f0318&#31;reute
u f BC-NIPPON-STEEL-TO-REDUC   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON STEEL TO REDUCE DIVIDEND</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>Nippon Steel Corp &lt;NSTC.T> plans to
reduce its dividend to three yen in the year ending March 31
1987 from the five yen of 1985/86, a company spokesman said.
    The company estimated parent company current losses at 15
billion yen in 1986/87, including a gain of 95 billion yen from
the sale of securities. This compares with a 36.07 billion yen
profit a year earlier.
    Sales in 1986/87 are seen at 2,150 billion yen, down from
2,685 billion a year ago.
    Poor business prospects were attributed to the yen's rise
and slow world steel demand. Nippon is expected to report
parent company results in late May.
    Total 1986/87 crude steel production is estimated at 25.57
mln tonnes, down from 27.98 mln a year earlier.
    Crude steel production is likely to be below 1986/87 output
but forecasts for profits and sales in the year starting April
1 are unavailable yet, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14703" NEWID="9182">
<DATE>25-MAR-1987 05:24:46.68</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;f0320&#31;reute
u f BC-BAT-SEES-STRONG-PERFO   03-25 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>BAT SEES STRONG PERFORMANCE FROM ALL SECTORS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>A strong performance from all BAT
Industries Plc's &lt;BTI.L> major sectors enabled the group's 1986
pretax profits to pass the one billion stg level for the third
year running, Chairman Patrick Sheehy said in a statement.
    The group earlier reported a 19 pct rise in profits to 1.39
billion, which Sheehy said was achieved without any help from
exchange rate fluctuations or acquisitions.
    Good results were achieved by its Argos and Saks Fifth
Avenue in retailing and by Wiggins Teape and Appleton in paper.
    Tobacco accounted for about 50 pct of profit with a four
pct gain to 764 mln stg and a two pct increase in world volume.
    The results were largely in line with analysts expectations
and BAT shares firmed by two pence to 537p at 0955 GMT.
    BAT said the U.S. Brown and Williamson unit held most of
its 1985 gains and increased profit 18 pct in dollar terms.
    Financial services saw profits double to 282 mln with both
Eagle Star and Allied Dunbar achieving further growth.
    Allied Dunbar reported a 51 pct rise in life annual
premiums to 39 mln stg. BAT said it increased new business by
38 pct in the last nine months after a relatively slow first
quarter. Its permanent health insurance was now the market
leader and its Unit Trust group was now the second largest in
the U.K.
    Eagle Star general premiums rose 32 pct to 1.03 billion.
Its life activities also grew 39 pct with better underwriting
results in the second half.
    Cash flow was strong and the gross debt to equity ratio
dropped to 41 pct from 51 pct. The net ratio, at 26 pct, left
the group strongly placed to pursue its further development.
    Profits from paper and pulp grew 29 pct to 217 mln stg,
nearly three times the 1982 level, with Wiggins Teape's sales
rising 36 pct to pass one billion stg.
    BAT said in 1986 it had sold 88 BATUS stores in the U.S.
For 644 mln dlrs and sold Grovewood Securities for 142 mln stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14704" NEWID="9183">
<DATE>25-MAR-1987 05:30:25.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>zhao-ziyang</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0331&#31;reute
u f BC-CHINA'S-PREMIER-ZHAO   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA'S PREMIER ZHAO SAYS POLITICAL CRISIS OVER</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>Chinese Premier Zhao Ziyang said the
threat from western political ideas which caused widespread
student demonstrations last December has been curbed.
    In an address at the opening session of China's parliament,
the National People's Congress, he accused unnamed party
leaders of being weak and lax in their supervision of ideology
and of failing to give full support to the promotion of
Marxism.
    "After several months of work since the end of last year we
have curbed bourgeois liberalisation, which was once quite
widespread," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14705" NEWID="9184">
<DATE>25-MAR-1987 05:31:46.25</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>taiwan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0332&#31;reute
u f BC-TAIWAN-SEES-ITS-INVES   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN SEES ITS INVESTMENT IN U.S. RISING SHARPLY</TITLE>
<DATELINE>    TAIPEI, March 25 - </DATELINE><BODY>Taiwanese investment in the U.S. Is
expected to nearly double to 80 mln U.S. Dlrs in calendar 1987
and rise to 400 mln dlrs a year by 1991, a five-year forecast
by the Economic Ministry showed.
    Taiwanese investment in the U.S. Last year totalled 46 mln
dlrs, the ministry document said. The investment was mainly in
electronics, trading, food and service industries.
    Lee Ming-Yi, deputy director of the ministry's Industrial
Development and Investment Centre, said the forecast rise is
due to planned government incentives and growing willingness
among Taiwanese to invest abroad.
    Lee told Reuters the incentives, to be introduced in May or
June, include bank loans and a reduction in capitalisation
requirements for businesses seeking to invest in the U.S. To 10
mln Taiwan dlrs from 20 mln.
    He said the moves to encourage investment in the U.S. Are
part of Taiwan's efforts to cut its trade surplus with
Washington, which rose to a record 13.6 billion U.S. Dlrs in
1986 from 1985's 10.2 billion.
    Taiwanese manufacturers can create jobs for Americans and
avoid import quotas if they set up plants in the U.S., He
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14706" NEWID="9185">
<DATE>25-MAR-1987 05:35:05.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0339&#31;reute
u f BC-BABCOCK-UNIT-WINS-ORD   03-25 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>BABCOCK UNIT WINS ORDER FOR VENEZUELAN POWER PLANT</TITLE>
<DATELINE>    OBERHAUSEN, West Germany, March 25 - </DATELINE><BODY>Deutsche Babcock AG
&lt;DBCG.F> said its wholly-owned Borsig GmbH subsidiary has won a
78 mln mark order to build a conventional power station block
for Venezuela's state-owned electricity company CADAFE.
    It said the installation, which can be powered by oil or
gas, should go on stream at the end of 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14707" NEWID="9186">
<DATE>25-MAR-1987 05:43:48.03</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;f0356&#31;reute
u f BC-JARDINE-TO-JOIN-CONSO   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>JARDINE TO JOIN CONSORTIUM FOR HK SECOND AIRPORT</TITLE>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>The Bermuda registered &lt;Jardine
Matheson and Co Ltd> has indicated it would participate in a
local consortium led by Hopewell Holdings Ltd &lt;HPWH.HK> which
has proposed to build the second airport here, a Hopewell
statement said.
    Jardine Matheson will take up a five pct stake in the joint
venture which has presented the government with a 25 billion
H.K. Dlr infrastructure development plan for Hong Kong's
offshore island of Lantau.
    The proposal includes an airport, a deep-water port and
highways linking with Southern China.
    Hopewell, which initiated the proposal, owns a 20 pct stake
in the consortium. Chairman of the firm Gordon Wu said recently
he expects the airport to start operation by mid-1992 and the
whole project to be completed by 1993 if an approval for the
project is obtained within a year.
    Other partners of the joint venture comprise a combined 20
pct stake by Cheung Kong (Holdings) Ltd &lt;CKGH.HKG> and
Hutchison Whampoa Ltd &lt;HWHH.HKG>, while Wu said at that time
the remaining 60 pct will be taken up by other interested
parties -- the public, and probably the Hong Kong and Chinese
governments.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14708" NEWID="9187">
<DATE>25-MAR-1987 05:44:08.80</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;f0357&#31;reute
u f BC-BABCOCK-INTERNATIONAL   03-25 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>BABCOCK INTERNATIONAL PLC &lt;BABK.L> YEAR 1986</TITLE>
<DATELINE>    LONDON, March 25 -
    </DATELINE><BODY>Div 4.7p making 8.7, an increase of 13.9 pct
    Shr 16.3p vs 17.9p adjusted
    Pretax profit 37.09 mln stg vs 34.55 mln
    Net 22.12 mln vs 24.13 mln
    Interest payable 8.10 mln vs 5.35 mln
    Share of associated co's 6.88 mln vs 5.42 mln
    Turnover 1.22 billion stg vs 1.10 billion
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14709" NEWID="9188">
<DATE>25-MAR-1987 05:46:06.54</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;f0362&#31;reute
r f BC-VEBA-PLACEMENT-CONTIN   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>VEBA PLACEMENT CONTINUES FOR SMALL SHAREHOLDERS</TITLE>
<DATELINE>    FRANKFURT, March 25 - </DATELINE><BODY>The placement of 10.1 mln government
owned shares in Veba AG &lt;VEBG.F> is still open for small
shareholders but lead manager Deutsche Bank AG &lt;DBKG.F> has
already closed its books for institutional investors, a
Deutsche spokesman said in answer to queries.
    Under the terms of the placement which opened on Monday,
small shareholders were given priority for three days so that
this privilege will not lapse until close of business today.
    Consortium banks set aside fixed amounts for small
shareholders. The spokesman could not say how big these were,
or whether other banks had closed books for institutions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14710" NEWID="9189">
<DATE>25-MAR-1987 05:47:07.38</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;f0364&#31;reute
u f BC-DELTA-GROUP-&lt;DLTL.L>   03-25 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>DELTA GROUP &lt;DLTL.L> YEAR TO JAN 3.</TITLE>
<DATELINE>    LONDON, March 25 -
    </DATELINE><BODY>Shr net basis 24.8p vs 24.5p
    Shr nil basis 22.7p vs 20.9p
    Div 5p making 7.6p vs 6.5p
    Pretax profit 57.78 mln stg vs 50.61 mln
    Net after tax 37.47 mln vs 36.49 mln
    Outside shareholders interests 1.75 mln vs 1.32 mln
    Extraordinary debit 370,000 vs 1.93 mln
    Turnover 533.59 mln vs 555.81 mln
    Profit breakdown by activity -
    Electrical equipment 28.59 mln stg vs 27.60 mln
    Engineering 10.75 mln vs 11.13 mln
    Industrial services 18.78 mln vs 16 mln
    Corporate finance 340,000 vs 4.12 mln
    Making total pre-tax profit 57.78 mln vs 50.61 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14711" NEWID="9190">
<DATE>25-MAR-1987 05:48:28.38</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F C M
&#22;&#22;&#1;f0367&#31;reute
u f BC-PLACER-PACIFIC-SAYS-B   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>PLACER PACIFIC SAYS BIG BELL GOLD STUDY EXPANDING</TITLE>
<DATELINE>    SYDNEY, March 25 - </DATELINE><BODY>&lt;Placer Pacific Ltd> said it will
undertake a full feasibility study of Western Australia's Big
Bell gold prospect.
    Results of an economic evaluation of the find, in which
Placer has an option with &lt;Australian Consolidated Minerals
Ltd> (ACM) to earn a 50 pct interest, were encouraging enough
to warrant a full study, Placer said in a statement.
    Big Bell, in the Murchison goldfield 540 km north east of
Perth, was founded in 1904. Between 1937 and 1955 it yielded
22.8 tonnes of gold and 7.8 tonnes of silver while milling
about 30,000 tonnes of ore a month.
    Placer has said the prospect has an estimated 14 mln tonnes
of ore with a three-gram-per-tonne concentration accessible by
open-pit mining and a further 4.5 mln tonnes with a
4.4-gram-a-tonne concentration between 300 and 600 meters
underground.
    It said it was obliged to produce the feasibility study no
later than December 31 this year by which time it would have
spent three mln dlrs on Big Bell.
    If the results are positive and a commitment to develop
made then construction would take about 12 months, Placer said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14712" NEWID="9191">
<DATE>25-MAR-1987 05:50:59.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0373&#31;reute
u f BC-BELGIAN-PUBLIC-DEBT-R   03-25 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN PUBLIC DEBT RISES IN FEBRUARY</TITLE>
<DATELINE>    BRUSSELS, March 25 - </DATELINE><BODY>Belgian public debt rose a nominal
89.5 billion francs in February to 5,591.1 billion francs, and
compared with 5,074.2 billion in February 1986, the finance
ministry said in its monthly statement.
    It said after taking into account operations with the
International Monetary Fund and foreign exchange fluctuations,
the figure corresponding to the government's net financing
requirement in February was 86.0 billion francs.
    This is below the February 1986 figure of 91.1 billion
francs.
    However in the first two 1987 months, the amount
corresponding to the net financing requirement was 184.2
billion francs against 183.9 billion in the same period of
1986, the Ministry said.
    The Belgian government is aiming to cut the financing
requirement for the whole of 1987 to around 420 billion francs
from 561 billion last year through a major spending cuts
program.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14713" NEWID="9192">
<DATE>25-MAR-1987 05:51:21.34</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;f0374&#31;reute
u f BC-BABCOCK-EXPECTS-FURTH   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>BABCOCK EXPECTS FURTHER PROGRESS IN 1987</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Babcock International Plc &lt;BABK.L> said
in a statement accompanying final results for 1986, showing
pretax profits up to 37.09 mln stg from 34.55 mln in 1985, that
overall further progress is expected in 1987.
    The predicted slowdown of the U.S. Automobile industry is
affecting the North American group although the improved
performance in the FATA European group during 1986 is expected
to continue into this year.
    In the U.K. Overall profitability will improve when the
Central Electricity Generating Board's ordering programme for
both nuclear and fossil-fired fuels starts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14714" NEWID="9193">
<DATE>25-MAR-1987 05:59:13.34</DATE>
<TOPICS><D>veg-oil</D><D>sun-oil</D></TOPICS>
<PLACES><D>uk</D><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0384&#31;reute
b f BC-EGYPT-BUYS-46,000-TON   03-25 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>EGYPT BUYS 46,000 TONNES OF SUNFLOWERSEED OIL</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Egypt purchased 46,000 tonnes of
optional origin sunflowerseed oil at its import tender
yesterday, all for May arrival, traders said.
    The business comprised 41,000 tonnes of crude sunflowerseed
oil in bulk at prices ranging from 344.25 to 348 dlrs and 5,000
tonnes of refined oil in drums at from 517.50 to 522.50 dlrs
per tonne, cost and freight Alexandria, delivered quality
terms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14715" NEWID="9194">
<DATE>25-MAR-1987 06:18:55.81</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>zhao-ziyang</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0401&#31;reute
u f BC-CHINA-TO-TIGHTEN-IMPO   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TO TIGHTEN IMPORT CONTROL, CUT EXPORT COSTS</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>China should tighten imports of ordinary
goods and restrict or even forbid import of goods which can be
made domestically, Premier Zhao Ziyang said.
    He told the National People's Congress, China's parliament,
that the country's foreign exchange is limited and must be used
where it is most needed.
    "We should expand production of import substitutes and
increase their proportion," he said.
    On exports, China should increase its proportion of
manufactured goods, especially textiles, light industrial
goods, electronics and machinery, he said.
    Zhao said China should lower the cost of exports and
control the export of goods that incur too much loss. In 1986
China had a trade deficit of 11.9 billion dlrs, down from a
record 14 billion in 1985.
    Zhao said China should work to provide a more favourable
investment environment for foreign businessmen. It should use
foreign funds for production and construction, with stress on
firms making goods for export or import substitutes.
    China should also earn more foreign exchange from tourists
and contracted labour abroad, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14716" NEWID="9195">
<DATE>25-MAR-1987 06:19:48.07</DATE>
<TOPICS><D>silver</D><D>copper</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C M
&#22;&#22;&#1;f0405&#31;reute
r f BC-WEST-GERMANS-TO-MINT   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMANS TO MINT COMMUNITY ANNIVERSARY COIN</TITLE>
<DATELINE>    BONN, March 25 - </DATELINE><BODY>The West German Cabinet approved a plan to
mint a special 10-mark coin commemorating the 30th anniversary
of the European Community this year.
    The silver-copper alloy coin will be minted in an edition
of 8.35 mln, a Finance Ministry statement said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14717" NEWID="9196">
<DATE>25-MAR-1987 06:21:48.40</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0408&#31;reute
u f BC-SINGAPORE-GDP-TO-GROW   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE GDP TO GROW SIX PCT IN FIRST QUARTER</TITLE>
<DATELINE>    SINGAPORE, March 25 - </DATELINE><BODY>Singapore's gross domestic product
will grow six pct in the first quarter and five pct in the
second quarter this year, with further growth expected in the
second half, Trade and Industry Minister Lee Hsien Loong told
parliament.
    The figures compared with 3.4 pct contraction and 1.2 pct
growth respectively for the first and second quarters of 1986.
    The estimates were based on a tentative leading indicator
incorporating new business orders, company inventories and
share prices used by his ministry, Lee said, without giving
further details of the new indicator.
    Singapore's economy grew 1.9 pct last year, after shrinking
1.8 pct in 1985. The government has forecast growth rate of
three to four pct for 1987.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14718" NEWID="9197">
<DATE>25-MAR-1987 06:23:47.46</DATE>
<TOPICS><D>oilseed</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0412&#31;reute
u f BC-CARGILL-U.K.-STRIKE-T   03-25 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>CARGILL U.K. STRIKE TALKS TO RESUME THIS AFTERNOON</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Talks between Cargill U.K. Ltd's
management and unions, aimed at ending the prolonged strike at
its Seaforth oilseed processing plant, will resume this
afternoon, a company spokesman said.
    Yesterday's session failed to reach a compromise but some
progress was made, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14719" NEWID="9198">
<DATE>25-MAR-1987 06:29:43.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0419&#31;reute
b f BC-NORWAY-ISSUES-60-BILL   03-25 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWAY ISSUES 60 BILLION YEN EUROBOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Norway is issuing a 60 billion yen
eurobond due April 22, 1992 paying 4-1/4 pct and priced at
101-5/8 pct, lead manager Nomura International Ltd said.
    The non-callable issue will be available in denominations
of one mln yen and will be listed in London.
    The fees comprise 1-1/4 pct selling concession with 5/8 pct
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14720" NEWID="9199">
<DATE>25-MAR-1987 06:37:40.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0424&#31;reute
u f BC-BROCKWAY-AIR-TO-BUY-F   03-25 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BROCKWAY AIR TO BUY FIVE SAAB PLANES</TITLE>
<DATELINE>     STOCKHOLM, Mar 25 - </DATELINE><BODY>The U.S. Airline Brockway Air, a
subsidiary of &lt;Brockway Inc>, has signed an agreement with
Saab-Scania AB &lt;SABS ST> to buy five 34-seater Saab SF340
aircraft for an undisclosed price, with an option on a further
five, Saab said.
     All five will be delivered to the Burlington,
Vermont-based airline this year for use on Brockway's 22-city
service system.
    Saab said it now had 103 firm orders for the regional
SF340, 80 of which had already been delivered.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14721" NEWID="9200">
<DATE>25-MAR-1987 06:43:26.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0430&#31;reute
b f BC-SAAB-SCANIA-LAUNCHES   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>SAAB-SCANIA LAUNCHES 100 MLN DLR EURO-CP PROGRAM</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Saab-Scania AB is establishing a 100 mln
dlr euro-commercial paper issuance program, Enskilda Securities
said as arranger.
    Dealers will be Enskilda and Bankers Trust International
Ltd. Paper will be issued in discounted note form only and will
have maturities between seven and 365 days.
    Denominations will be 500,000 and one mln dlrs.
    Enskilda Securities said Saab-Scania hopes to activate the
program soon.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14722" NEWID="9201">
<DATE>25-MAR-1987 06:46:02.57</DATE>
<TOPICS><D>meal-feed</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0436&#31;reute
r f BC-BRITISH-COMPOUND-FEED   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH COMPOUND FEED PRODUCTION DETAILED</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Feed compounds, balancers and
concentrates produced in Britain in the five weeks ended
January 31 totalled 973,400 tonnes, against 966,200 tonnes
produced in the same 1986 period, Ministry of Agriculture
figures show.
    However, cattle/calf feed output, the largest single
component, was 7.2 pct down at 435,900 tonnes against 469,900
tonnes. Pig feed was 170,800 tonnes versus 171,600, and poultry
feed 287,600 compared with 256,600. Other smaller components
included in the total all showed increases.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14723" NEWID="9202">
<DATE>25-MAR-1987 06:47:09.74</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0437&#31;reute
u f BC-KLOECKNER-UND-CO'S-19   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>KLOECKNER UND CO'S 1986 PROFIT FALLS ABOUT 20 PCT</TITLE>
<DATELINE>    DUISBURG, West Germany, March 25 - </DATELINE><BODY>Kloeckner &amp; Co KGaA, the
international trading group, said its 1986 domestic group net
profit fell by around 20 pct against 1985, adding that the
profit resulted largely from a writing back of reserves.
    The company, which gave no 1986 profit figures, posted a
domestic group net profit of 41 mln marks in 1985.
    It said the 1986 profit was made possible through a 40 mln
mark write-back of reserves that had been created to cover
possible price rises. These reserves were no longer necessary
because of recent declines in raw material prices.
    Kloeckner attributed the profit decline to the fall in
prices as well as the lower value of the dollar.
    It said it would pay an unchanged dividend on its ordinary
share capital, which is entirely in private hands and held
largely by family foundations.
    Kloeckner's nominal 100 mark profit-participation
certificates, issued in October 1986, will pay a likely yield
of around 10 pct. Holders of the certificates are entitled to a
quarter of the 1986 payment, or around 2.50 marks, the company
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14724" NEWID="9203">
<DATE>25-MAR-1987 06:51:56.93</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>malaysia</D><D>indonesia</D><D>thailand</D><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>inro</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0441&#31;reute
u f BC-MIXED-ASIAN-REACTION   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>MIXED ASIAN REACTION TO NEW RUBBER PACT</TITLE>
<AUTHOR>    By Rajan Moses, Reuters</AUTHOR>
<DATELINE>    KUALA LUMPUR, March 25 - </DATELINE><BODY>Governments of major Asian
producing countries have welcomed the conclusion of a new
International Natural Rubber Agreement (INRA), but growers and
traders are unhappy with the development, according to views
polled by Reuter correspondents.
    Officials in Malaysia, Indonesia and Thailand, which
produce the bulk of the world's rubber, said they expected the
new pact to continue to stabilise prices and help their rubber
industries remain viable in the long-term.
    But traders and growers said they were against the new pact
because its buffer stock mechanism was likely to interefere
with free market forces and prevent sharp rubber price rises.
    The new INRA, to replace the current one which expires on
October 22, was formally adopted by most of the world's
producers and consumers in Geneva last Friday.
    It will be open for signature at the U.N. Headquarters in
New York from May 1 to December 31 this year and will enter
into force provisionally when ratified by countries accounting
for 75 pct of world rubber exports and 75 pct of world imports.
    Malaysian Primary Industries Minister Lim Keng Yaik said
the formal adoption of a new pact had dispelled fears of
liquidation of some 360,000 tonnes of INRA buffer stock rubber
and a possible depression of prices.
    He expressed confidence that the new INRA would continue to
keep prices stable by selling or buying rubber as prices rose
or fell through its buffer stock system.
    Malaysia was also happy that in the new INRA financing of
purchases for the normal buffer stock of 400,000 tonnes and a
contingency buffer stock of 150,000 tonnes would be done
through direct cash contributions from members, he said.
    Under the existing pact, members can borrow from banks to
finance INRA's buffer stock purchases. This has been viewed
with concern by some members who fear the INRA may become
indebted and ultimately face collapse, like the International
Tin Agreement.
    "This will ensure the buffer stock operation is carried out
without any financial encumbrance," Lim said.
     Malaysia, the world's largest producer, was seeking
cabinet approval to join the new INRA and hoped other producers
and consumers would also become members, he said.
    Officials in Jakarta said the new pact would bring benefit
to Indonesia's rubber industry's by stabilising prices.
    It was unlikely to collapse like the tin agreement because
its new financial provisions had been tightened, they said.
    Thai officials told Reuters they were optimistic the new
pact was viable because it strictly limited the extent of debt
the INRA buffer stock manager might commit to his market
operations.
     Malaysian growers, however, said they preferred a free
rubber market because an INRA had a tendency to keep prices at
levels that were only acceptable to consumers.
    "With the INRA's ability to keep prices at a certain stable
level, consumers are assured of rubber at almost a fixed price,
while producers may never see sharp price rises," a Malaysian
Rubber Producers Council source told Reuters.
    Producers also wanted a free rubber market without the
overhang of a 360,000 tonne INRA buffer stock which had
psychologically prevented price rises, he said.
    State plantation officials in Sri Lanka said prices had
been depressed since INRA's inception and the creation of a
buffer stock, and they seemed unlikely to rise.
    Sri Lanka should not be a member of the INRA because it was
expensive to maintain a buffer stock, they added.
    Traders in the region, meanwhile, said prices might be
pressured by the new pact in the long term as its potential to
stabilise prices and buffer stock capacity would spur producers
to produce more.
    Most Malaysian and Singapore traders said the new pact's
conclusion had little impact on prices and it was unlikely to
allow sharp price fluctuations in future.
    "The 360,000 tonnes in the INRA buffer stock must be
liquidated and a free market returned," a Malaysian trader said.
    Japanese traders said the new pact had a chance for success
as most world producers and consumers had adopted it, but they
questioned the ability of some financially-strapped producers
to finance buffer stock operations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14725" NEWID="9204">
<DATE>25-MAR-1987 06:52:09.01</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0442&#31;reute
u f BC-CIBA-GEIGY,-PHILLIPS   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>CIBA-GEIGY, PHILLIPS PETROLEUM IN JOINT VENTURE</TITLE>
<DATELINE>    BASLE, March 25 - </DATELINE><BODY>Ciba-Geigy AG &lt;CIGZ.Z> said it would
establish a joint venture with Phillips Petroleum Co. In Europe
to manufacture a high performance engineering thermoplastic.
    Initially, the Swiss chemicals firm will manufacture
polyphenylene sulfide compounds using resins from Phillips.
    The two firms will later set up a joint venture to produce
the polyphenylene resins and compounds, which will be marketed
independently under their respective trademarks. A Ciba-Geigy
spokesman declined to say how much the venture would cost.
    Polyphenylene sulfide is widely used in the electronic,
automotive, and petroleum fields.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14726" NEWID="9205">
<DATE>25-MAR-1987 06:56:17.04</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>west-germany</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0446&#31;reute
r f BC-KRUPP-TO-BUILD-SOUTH   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>KRUPP TO BUILD SOUTH KOREAN STEEL PLANT</TITLE>
<DATELINE>    ESSEN, West Germany, March 25 - </DATELINE><BODY>Fried. Krupp GmbH said its
Krupp Industrietechnik GmbH subsidiary has won a 130 mln marks
joint order with Samsung Shipbuilding and Heavy Industries Co.
Ltd of Seoul for a steel works in Pohang, South Korea.
    It said the order, awarded by the Pohang Iron and Steel Co.
Ltd, involves a works due to go on stream in 1989 producing
250,000 tonnes of non-corrosive quality steels annually.
    The consortium partners will supply the plant, supervise
its construction and advise on product processing, with Krupp
providing a 100-tonne capacity arc furnace and a converter for
steel refining.
    The West German company will supply ladles, vehicles,
electrical and exhaust cooling apparatus and dust filters. It
will also fit out the plant's laboratory.
    Among other things Krupp said it will provide know-how for
all production phases and train the Korean workforce.
    It said Samsung will take care of the Korean part of the
engineering and electrical work, the water treatment and other
mechanical equipment, according to Krupp basic engineering.
    Extruded ingots from the plant will be converted to sheet
in an existing hot rolling mill. The sheet will be processed in
facilities which are to be erected, Krupp said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14727" NEWID="9206">
<DATE>25-MAR-1987 07:00:38.78</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0455&#31;reute
u f BC-SWIRE-EXPECTS-CONTINU   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SWIRE EXPECTS CONTINUED GROWTH THIS YEAR</TITLE>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>Swire Pacific Ltd &lt;SWPC.HKG> expects
continued growth in all divisions this year though it sees
problems in the marine sector, chairman Michael Miles said.
    He told reporters:"1987 has started well for Cathay Pacific
Airways which looks forward to another good year... Swire
Properties expects further good results both from properties
under development for sale and from its investment property
portfolio."
    He did not give any specific projections for earnings. The
company earlier reported 46 pct higher 1986 net profits at 1.78
billion H.K. Dlrs from a year ago.
    Swire also had an extraordinary profit of 1.38 billion dlrs
mainly from the sale of a 15.25 pct interest in Cathay Pacific
Airways Ltd &lt;CAPH.HKG>.
    Miles said the company will use the money to develop its
business, primarily in Hong Kong.
    Swire's stake in Cathay was first reduced to 54.25 pct from
70 pct when Cathay was publicly floated, and then cut to 50.25
pct when Cathay issued new shares amounting to 12 pct of the
enlarged capital to the state-owned &lt;China International Trust
and Investment Corp>. Cathay last week reported its 1986
profits rose to 1.23 billion dlrs from 777 mln a year ago.
    Miles said despite last year's rapid expansion in Cathay's
flights and fleet, load factor is still holding up at 70 pct.
    He said Cathay's growth last year was the result of "a
marginal increase in the revenue load factor coupled with
savings in fuel costs."
    "At present fuel prices are stable and will remain stable
for the rest of this year," he said, "though there might be a bit
of increase later this year.''
    Miles said Swire is not abandoning its offshore oil service
operations, even though the marine sector is generally
depressed. "Obviously the marine industry is not getting any
better," he said.
    The real estate market remained strong and Swire last year
revalued its property portfolio up 634 mln dlrs compared with
an increase of 864.4 mln dlrs the previous year.
    Miles said he expects the property market to remain firm
but said the firm has no available land for a major housing
project such as its Taikoo Shing development on Hong Kong
island now near completion.
    He said the company's 50 pct unit &lt;Hongkong United Dockyard
Ltd> is negotiating with the government for the development of
an existing petroleum storage depot into a major housing
estate. "But it's not as big as Taikoo Shing," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14728" NEWID="9207">
<DATE>25-MAR-1987 07:08:53.60</DATE>
<TOPICS><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 T
&#22;&#22;&#1;f0465&#31;reute
b f BC-UNCERTAINTY-SURROUNDS   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>UNCERTAINTY SURROUNDS EC SUGAR TENDER RESULT-TRADE</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Considerable uncertainty surrounds the
outcome of today's EC white sugar tender, traders here said,
noting it remains overshadowed by European operator threats to
move over 800,000 tonnes of sugar into intervention.
    They said that due to the dispute between the Commission
and producers over the issue, it is not clear whether the
Commission will authorise any exports at all or grant licences
on a large tonnage.
    The subsidy is seen being set above 45.00 Ecus per 100
kilos, although traders are reluctant to predict a precise
level after prices fell yesterday.
    Earlier, traders in Paris said they expected the Commission
to award licences for around 50,000 tonnes of white sugar with
a maximum export rebate of 45.75 to 46.0 Ecus.
    Last week, the Commission granted licences to end August on
60,500 tonnes of whites at a maximum rebate of 44.819.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14729" NEWID="9208">
<DATE>25-MAR-1987 07:09:17.42</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0467&#31;reute
u f BC-ABU-DHABI-TO-REOPEN-G   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ABU DHABI TO REOPEN GULF OILFIELD HIT IN 1986 RAID</TITLE>
<DATELINE>    ABU DHABI, March 25 - </DATELINE><BODY>Abu Dhabi's offshore Abu al-Bukhoosh
oilfield in the Gulf, shut since an aerial attack last
November, will reopen when new anti-aircraft defences are
ready, and this could be in the next two months, oil industry
sources said.
    They said the Abu Dhabi government and Compagnie Francaise
des Petroles (Total) &lt;TPN.PA>, whose Total Abu al-Bukhoosh
subsidiary owns 51 pct of the field, have agreed on the
reopening, but that a date has not been definitely fixed.
    Unidentified planes hit the field, 100 miles off Abu Dhabi,
last November 25.
    The raid killed eight workers and destroyed the main living
quarters and a bridge linking a wellhead to the main production
platform.
    Western diplomats in the region say Iran was responsible
but Tehran has blamed its Gulf War enemy Iraq.
    Abu al-Bukhoosh was producing 57,000 barrels per day (bpd)
at the time of the attack, but the sources said it would resume
at a maximum of half that level because of reduced staff and
the fact only four of five wellheads were now operable.
    The sources said only 80 personnel can be housed in
remaining accomodations, the sources said.
    Facilities being installed to protect the field include
aircraft detection equipment, anti-aircraft missiles, housing
for military personnel and helicopter landing pads, the sources
said.
    Abu Dhabi is the largest oil producer in the United Arab
Emirates, accounting for about 800,000 bpd of its total 1.15
mln bpd production, the sources said.
    They also said Iran was working to reopen its Sassan field,
part of the same reservoir as Abu al-Bukhoosh and located only
a few miles away. Sassan was heavily damaged by an Iraqi air
raid only 10 days before Abu al-Bukhoosh was attacked.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14730" NEWID="9209">
<DATE>25-MAR-1987 07:15:13.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>chad</D><D>libya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0489&#31;reute
u f PM-CHAD-CASUALTIES ***URGENT  03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CHAD SAYS TROOPS KILLED 1,200 LIBYANS IN BATTLE</TITLE>
<DATELINE>    N'DJAMENA, March 25 - </DATELINE><BODY>Chad's military high command said
today troops killed 1,269 Libyan soldiers in routing a
5,000-strong force to capture Tripoli's major air base in
northern Chad on Sunday.
    In its first published casualty list from the fierce battle
for Ouadi Doum air base, the high command said 438 Libyans were
taken prisoner, while 29 Chadian soldiers were killed and 58
wounded.
    It said the prisoners included the regional commander,
Colonel Khalifa Abul-Gassim Hastar, while his deputy, Colonel
Gassim Ali Abu-Nawar, was among the dead.
    The Chadian army also captured substantial amounts of
weaponry, including 11 Czechoslovak-made L-39 bombers, three
Soviet MI-24 fighter helicopters and a large number of tanks,
as well as hundreds of other vehicles armed with guns or
anti-aircraft missiles.
    Following Sunday's battle, French officers said the fall of
Ouadi Doum deprived Libya of its only hard runway air base in
Chad. Its main strongpoint, Faya Largeau some 230 km (150
miles) north of the so-called "red line" along the 16th parallel,
was left increasingly exposed.
    The 16th parallel divides the central African country into
government-held zones in the south and mainly Libyan-controlled
areas in the north.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14731" NEWID="9210">
<DATE>25-MAR-1987 07:16:19.97</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0492&#31;reute
r f BC-RAINBOW-LIFTS-PROGRES   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINBOW LIFTS PROGRESSIVE STAKE TO 52 PCT</TITLE>
<DATELINE>    WELLINGTON, March 25 - </DATELINE><BODY>&lt;Rainbow Corp Ltd> said it has
lifted its stake in supermarket group &lt;Progressive Enterprises
Ltd> to 52 pct from 44 pct.
    It said in a statement it has bought an extra 9.4 mln
shares at prices ranging from 3.80 N.Z. Dlrs to 4.80.
    Progressive is currently the subject of both a proposed
merger with Rainbow and a full takeover bid from &lt;Brierley
Investments Ltd> (BIL). The BIL bid, launched on Monday, is at
4.20 dlrs a share. The Rainbow merger involves shareholders in
both Rainbow and Progressive being issued shares in a new
company, &lt;Astral Pacific Corp Ltd>, on a one-for-one basis.
    Rainbow chief executive Craig Heatley said, "In our opinion
BIL's actions over the last few days have been undertaken for
their own strategic purposes which conflict with the desire of
both companies to merge their interests."
    BIL has said it is against the merger because it sees
Progressive shares as being worth twice as as much as
Rainbow's.
    Progressive traded today at 4.42, Rainbow at 3.66 and BIL
at 4.30 at the end of morning trading on the New Zealand Stock
Exchange.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14732" NEWID="9211">
<DATE>25-MAR-1987 07:16:54.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0495&#31;reute
u f BC-BANK-OF-THAILAND-PLAN   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF THAILAND PLANS ITS FIRST BOND ISSUE</TITLE>
<DATELINE>    BANGKOK, March 25 - </DATELINE><BODY>The Bank of Thailand is seeking Finance
Ministry approval to issue its first bond, central bank sources
said.
    The planned three billion baht issue would carry a term of
six months to one year as a short term move to mop up surplus
funds held by commercial banks.
    The issue would offer a coupon attractive to commercial
banks, which currently have an estimated 30 to 60 billion baht
in funds invested in low-yield securities, the sources said.
    The central bank, charged with supervision of commercial
banks, has previously issued only Finance Ministry bonds.
    Private bankers said they are awaiting a central bank
decision on whether to allow commercial banks to continue
holding up to 40 pct of their capital in foreign exchange or to
return it to 20 pct as scheduled.
    The six month 40 pct ceiling expires April 6 but the banks
want it extended for six more months.
    They said a forced cut in foreign exchange positions would
worsen the local liquidity problem as commercial banks would
have to convert about five billion baht worth of foreign
currencies in their portfolios into baht.
    Senior central bank officials suggested to reporters last
week that the foreign exchange ceiling will be lowered to
discourage banks' use of excess funds for currency speculation.
    Central bank sources said some commercial banks,
anticipating such a central bank decision, have been converting
their foreign currencies into baht this week and lending the
additional funds to the Bank of Thailand's short-term loan
repurchase facility.
    They said the Bank of Thailand's repurchase window
yesterday received offers of about three billion baht of
investment funds from commercial banks, three times its normal
daily amount.
    The repurchase window uses government bonds as an
instrument with which commercial banks can borrow from or lend
to the state bank.
    The facility is sometimes used by the central bank to set a
local short-term interest benchmark through fixing its bond
repurchase rates.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14733" NEWID="9212">
<DATE>25-MAR-1987 07:17:43.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0498&#31;reute
r f BC-FOREIGN-BROKERS-GET-M   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN BROKERS GET MORE ACCESS TO JAPANESE BONDS</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Finance Ministry has accepted a
decision by the securities industry to expand the share of
foreign brokers in the 10-year bond underwriting syndicate to
5.73 pct from 1.19 pct now, a ministry spokesman said.
    Earlier this month, the ministry approved a plan to expand
the securities industry's share in the syndicate to 26.2 pct
from 26 pct from April to allow six foreign securities firms to
participate, he said.
    The banks' share in the syndicate will be cut to 73.8 pct
from 74 pct from April.
    Each of the original 17 foreign brokers had a 0.07 pct
share, but the securities industry said in a report accepted by
the ministry that it decided to raise the share of some foreign
firms due to their commitment to the Japanese market.
    Salomon Brothers Asia Ltd will have one pct, while S.G.
Warburg and Co Ltd, Goldman, Sachs International Corp, Jardine
Fleming (Securities) Ltd, First Boston Corp, Merrill Lynch
Securities Co and Morgan Stanley and Co Inc will each have 0.5
pct.
    Vickers da Costa Ltd and Smith Barney, Harris Upham
International Inc will each have 0.3 pct. Kleinwort, Benson
Ltd, Kidder, Peabody and Co Ltd, Drexel Burnham Lambert Inc,
Deutsche Bank AG and W.I. Carr, Sons and Co each get 0.1 pct.
    Bache Securities (Japan) Ltd, Hoare Govett (Far East) Ltd
and J. Henry Schroeder Bank and Trust Co and the six new
syndicate members -- E.F. Hutton International Inc, Shearson
Lehman Brothers Asia Inc, Dresdner Bank AG, Swiss Bank Corp
International Asia Inc, Sogen Security Corp and Swiss Union
Philips and Drew Ltd -- will each have a 0.07 pct share in the
securities industry.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14734" NEWID="9213">
<DATE>25-MAR-1987 07:18:24.59</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0502&#31;reute
r f BC-YEN-MAY-RISE-TO-140-T   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>YEN MAY RISE TO 140 TO THE DLR, NIKKEIREN SAYS</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The yen could rise to 140 yen to the
dollar, a leading Japanese businessman said.
    Bumpei Otsuki, president of the influential Japan
Federation of Employers' Associations, (Nikkeiren), told
reporters: "The yen might rise as far as 140 (to the dollar).
The U.S. Economy is not good, and as long as the U.S. Economy
is not good, the U.S. Will put various pressures (on Japan)."
    "The yen's level depends on the condition of the U.S.
Economy rather than Japan's economy, and as long as the
American situation is bad, the yen will continue to rise," he
said.
    To cope with the negative impact of the strong yen,
Japanese enterprises must strive to cut costs by all means,
including holding down wages as much as possible, Otsuki said.
    He rejected recent calls from some government quarters for
wage increases this year as a means of raising private
consumption and thus boosting domestic demand.
    "We have to keep wages as low as possible," he said.
    He also said the yen's large and rapid rise is depressing
the outlook for the Japanese economy, noting that in addition
to hurting exporters it is also damaging domestic market
manufacturers through cheap imports.
    Parts of the service sector are also threatened, Otsuki
said.
    Tertiary industries provide services to manufacturers and a
downturn in manufacturing profits will adversely affect service
industries, he said.
    It is also doubtful whether the tertiary sector can fully
employ those put out of work in the manufacturing sector, he
said.
    Profits of service sector companies are likely to fall in
the business year ending in March 1988, leading to a possible
recession in the Japanese economy, he said.
    Otsuki said economic growth is unlikely to pick up beyond
levels experienced in 1986.
    The government's Economic Planning Agency said last week
the economy grew at 2.5 pct in 1986, the worst performance
since 1974 when the economy shrank 1.4 pct due to the first oil
price crisis.
    In order to stimulate domestic demand and boost the
economy, tax reforms aimed at bringing down the cost of land
and reforming the nation's housing stock are needed, along with
steps to bring down the high cost of commodities, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14735" NEWID="9214">
<DATE>25-MAR-1987 07:22:34.64</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0516&#31;reute
r f BC-JAPAN-BUYS-MODEST-AMO   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BUYS MODEST AMOUNT OF DOLLARS, DEALERS SAY</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Bank of Japan bought a modest amount
of dollars this morning, possibly around 200 to 300 mln,
dealers said.
    One dealer said the central bank bought about 200 mln dlrs
through brokers and the rest through banks. The buying began
when the dollar was at about 149.60 yen, and helped drive the
U.S. Currency up to around 150, he said.
    Another said the central bank seemed to be trying to push
the dollar up above 150 yen. But heavy selling at around that
level quickly pushed the dollar back down towards 149 yen,
dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14736" NEWID="9215">
<DATE>25-MAR-1987 07:25:24.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0520&#31;reute
u f BC-BRAZIL/BANK-COMMITTEE   03-25 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL/BANK COMMITTEE AGREE ON CREDIT REQUEST</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Brazil and its bank advisory committee
agreed to transmit a request for an extension of short-term
credit lines totaling 16 billion dlrs for 60 days until May 31,
Brazilian Central Bank President Francisco Gros said.
    Speaking after talks with the committee here, Gros also
said he did not expect to make interest payment to the banks at
this moment.
    He added that "no one should expect any dramatic
developments before March 31."
    Brazil last month suspended interest payments on its 68
billion dlrs debt to commercial banks and froze short-term
trade and money market lines.
    Bankers said they would relay the Brazilian request for an
extension but declined to say whether they were specifically
endorsing it.
    Gros said the decision, which he called a "standstill"
arrangement, will be communicated to Brazil's 700 bank
creditors by telex tomorrow. Banks had been pressing Brazil to
make at least a token interest payment, but Gros said the
government was unable to comply for the moment.
    He stressed however that Brazil was willing to pay as soon
as it could, but added that a payment of interest was not
connected with the extension of the credit lines.
    "That would not be wise," he said.
    He said that the extension of the short-term lines would
not be carried out through "an official instrument" as there was
not time to complete the legal requirements.
    Gros said Brazil was likely to meet again with the 14-bank
advisory committee once Brazil had information to present on an
economic plan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14737" NEWID="9216">
<DATE>25-MAR-1987 07:26:42.04</DATE>
<TOPICS><D>interest</D><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>uk</D><D>france</D><D>uk</D><D>canada</D><D>west-germany</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0524&#31;reute
r f BC-JAPAN-DOES-NOT-INTEND   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN DOES NOT INTEND TO CUT DISCOUNT RATE-SUMITA</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>Bank of Japan governor Satoshi Sumita
said the central bank has no intention of cutting its discount
rate again as a way of preventing the yen's rise.
    He told a press conference that the growth of Japanese
money supply remains high.
    The bank will have to watch closely various developments
resulting from its already eased monetary stance, such as the
sharp rise in real estate and stock prices, he said.
    Although the yen's rise will have a greater deflationary
impact on the economy, the economy is not likely to slow down
much further, Sumita said.
    "I don't think we should change our economic outlook at the
moment," Sumita said.
    Sumita has said in the past that he expects the economy to
show a gradual upturn in the second half of the year.
    The governor said the six major industrial nations are
expected to review last month's pact on currency stability when
they meet next in April.
    Dealers said they expect the six - Britain, Canada, France,
Japan, the U.S. Amd West Germany - to meet just before the
IMF/World Bank interim committee meeting in Washington starting
on April 9.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14738" NEWID="9217">
<DATE>25-MAR-1987 07:27:18.76</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0527&#31;reute
b f BC-U.K.-MONEY-MARKET-FOR   03-25 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET FORECAST REVISED TO SHOW SURPLUS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Bank of England said it had revised
its forecast of the liquidity position in the money market
today to a surplus of 150 mln stg after it estimated a flat
position earlier this morning.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14739" NEWID="9218">
<DATE>25-MAR-1987 07:27:24.22</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0528&#31;reute
b f BC-BANK-OF-ENGLAND-DOES   03-25 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF ENGLAND DOES NOT OPERATE IN MONEY MARKET</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Bank of England said it had not
operated in the money market during the morning session.
    Earlier, the Bank revised its forecast of the liquidity
position in the system today to a surplus of 150 mln stg from
its original estimate of a flat position.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14740" NEWID="9219">
<DATE>25-MAR-1987 07:27:47.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0530&#31;reute
r f BC-BANK-OF-JAPAN-TO-SELL   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN TO SELL 300 BILLION YEN IN BILLS</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Bank of Japan will sell 300 billion
yen of government financing bills tomorrow under a 29-day
repurchase accord maturing April 24 to soak up a projected
money market surplus, market sources said.
    The surplus is estimated at 350 billion yen, due mainly to
excess bank holdings of yen funds after heavy dollar purchases
in the foreign exchange market yesterday, money traders said.
    The yield on the bills for sales to banks and securities
houses from money houses will be 3.9495 pct against the 3.9375
pct discount rate for one-month commercial bills and the
4.58/42 pct yield on one-month certificates of deposit today.
    The operation will put the outstanding bill supply at about
1,900 billion yen, money traders said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14741" NEWID="9220">
<DATE>25-MAR-1987 07:28:52.81</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0534&#31;reute
r f BC-EXCHANGE-RATES-ALMOST   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>EXCHANGE RATES ALMOST WITHIN G-6 LEVELS - SUMITA</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>Bank of Japan governor Satoshi Sumita
said that current exchange rates are almost within the levels
agreed to by six major nations last month in Paris.
    Asked whether a dollar/yen rate of 148 or 149 reflected
economic fundamentals, he said current rates almost reflect
fundamentals.
    Sumita told reporters major nations have cooperated to
bring about currency stability in line with the Paris
agreement, which stipulated that they would closely cooperate
to that end. He repeated the central bank will intervene if
necessary, adding he did not think a dollar free-fall was
likely.
    But Sumita said he could not say exactly what currency
levels would be considered in line with underlying economic
fundamentals.
    In Paris on February 22, Britain, Canada, France, Japan,
the U.S. And West Germany agreed to cooperate to hold
currencies around their then current levels.
    Sumita said he could not find any specific reasons behind
the fall of the dollar to a record low against the yen
yesterday. But he said the market rushed to sell dollars as it
nervously reacted to statements abroad and to developments
surrounding trade tensions.
    U.S. Treasury Secretary James Baker said over the weekend
that the Paris pact did not encompass fixed tragets for the
dollar. U.S. Trade Representative Clayton Yeutter called
U.S/Japan relations on certain key trade issues very strained.
    The market reacted nervously because the dollar has been
moving narrowly against the yen since mid-January, Sumita said.
He added he does not expect the yen/dollar exchange rate to
remain unstable because the market is concerned about a sharp
rise of the yen.
    The Bank of Japan will keep a close watch on exchange rates
in line with the Paris accord, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14742" NEWID="9221">
<DATE>25-MAR-1987 07:30:09.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>pakistan</D><D>afghanistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0538&#31;reute
u f BC-AFGHAN-BOMBING-TOLL-A   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>AFGHAN BOMBING TOLL ALMOST 150</TITLE>
<DATELINE>    ISLAMABAD, March 25 - </DATELINE><BODY>Afghan warplanes killed almost 150
people in bombing raids into Pakistani territory last Monday,
Pakistani officials said.
    The death toll rose from a previously reported 85 as news
emerged that a third village had been hit. About 45 people were
killed in Lwarai Mandi in North Waziristan Tribal Agency,
officials said.
    The death toll in Angur Adar in South Waziristan rose to 23
and the toll in Teri Mangal in Kurram Agency rose to 81. The
Soviet-backed Afghan government has not commented on the
reports. 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14743" NEWID="9222">
<DATE>25-MAR-1987 07:30:26.26</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0540&#31;reute
r f BC-JAPAN-ASKS-TRADERS,-E   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN ASKS TRADERS, EXPORTERS TO CUT DOLLAR SALES</TITLE>
<DATELINE>    TOKYO, March 25 - </DATELINE><BODY>The Ministry of International Trade and
Industry (MITI) has asked about 30 Japanese trading houses and
exporters to refrain from excessive dollar selling, trading
house officials said.
    The officials told Reuters MITI asked them to moderate
their foreign exchange trading because the excessive rise in
the yen will have unfavourable effects on the economy. It made
the request by telephone.
    A MITI official said the ministry has conducted a survey of
foreign exchange trading by trade houses and exporters. But he
said it was not aimed at moderating dollar selling.
    The trading house officials said MITI had asked them to
undertake foreign exchange transactions with due consideration
to the adverse effects excessive exchange rate movements would
have on the economy.
    The MITI official said MITI undertakes such surveys when
exchange rates fluctuate widely. A similiar survey was made
when the currency fell to the previous record low of 149.98 on
January 19. It hit a new record low of 148.20 yen yesterday.
    He said the survey showed currency transactions by trade
houses and exporters contributed little to the dollar fall.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14744" NEWID="9223">
<DATE>25-MAR-1987 07:32:57.90</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;f0546&#31;reute
u f BC-SWIRE-UNCOMMITTED-ON   03-25 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SWIRE UNCOMMITTED ON PROPOSED NEW H.K. AIRPORT</TITLE>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>Swire Pacific Ltd &lt;SWPC.HKG> and its
50.25 pct unit Cathay Pacific Airways Ltd &lt;CAPH.HKG> are still
undecided whether they would participate in the proposed new
airport for Hong Kong, chairman of both Michael Miles said.
    "We don't want to jump the fence prematurely. We want to
know the government's position first," he told a press
conference. "The new airport is still a long way away. But if it
does go ahead we will be involved." He declined to elaborate but
noted that no other company has more at stake in a Hong Kong
airport than the Swire group, which controls &lt;Hongkong Aircraft
Engineering Co Ltd>.
    The idea for a second airport has been proposed for more
than a decade but in 1982 the government shelved the plan for
being too expensive. Early this year a consortium led by
&lt;Hopewell Holdings Co Ltd> presented the government with a 25
billion H.K. Dlr scheme of infrastructure development including
an airport, a deep water port and highways to China.
    Hopewell said it will take a 20 pct stake in the project
while Cheung Kong (Holdings) Ltd &lt;CKGH.HKG> and Hutchison
Whampoa Ltd &lt;HWHH.HKG> will take a combined 20 pct. Earlier
today Hopewell said &lt;Jardine Matheson and Co Ltd> will take a
five pct interest in the project.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14745" NEWID="9224">
<DATE>25-MAR-1987 07:33:34.64</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>uk</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0552&#31;reute
r f BC-CENTRAL-BANKS-BUY-DOL   03-25 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL BANKS BUY DOLLARS FOR YEN IN LONDON</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Bank of Japan intervened to stem
strong yen rises against the dollar during London trading this
morning, dealers said.
    The Bank of Japan here declined comment.
    The Bank of England was also rumored to be buying dollars
against the yen this morning but it also declined comment.
    Dealers said the intervention halted a sudden late morning
drop to a low of 148.65 yen, holding the dollar steady until
midsession at about 148.80.
    The Bank of England was strongly rumored to have intervened
on behalf of the dollar against the yen yesterday, but it gave
no confirmation.
    Overnight reports from Tokyo said that the Bank of Japan
was aggressively supporting the dollar, but failed to push it
back to the perceived target level of 150 yen.
    Selling during the London trading morning was largely
attributed to Japanese institutions.
    Dealers here were loath to quantify the scale of Bank of
Japan action this morning. One U.S. Bank trader said it could
have been up to 500 mln dlrs, but said this was largely a
guess.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14746" NEWID="9225">
<DATE>25-MAR-1987 07:35:07.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0555&#31;reute
u f PM-DEBT 1STLD  03-25 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL, BANKS FAIL TO MAKE BREAKTHROUGH IN DEBT TALKS</TITLE>
<AUTHOR>    By Keith Grant</AUTHOR>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Brazil and its bank creditors failed to
achieve any breakthrough in debt talks here last night after
Brazil refused to say when it would resume interest payments.
    Central Bank governor Francisco Gros said after a meeting
with a 14-bank advisory committee that Brazil cannot make any
interest payments at this time, though it would do so "as soon
as we can."
    The talks came as the annual meeting of the 44-nation
Inter-American Development Bank (IADB), in which both Gros and
the bankers had been taking part, moved toward a close here.
    Bankers leaving the meeting with Gros declined to discuss
details of the talks, though some expressed satisfaction that
Brazil had agreed to continue working with the committee.
    At the same time, Gros told reporters not to expect any
dramatic developments before March 31, the date when some U.S.
banks have said they will take a decision whether to put Brazil
loans on a non-performing basis.
    Brazil suspended interest payments on its 68 billion dlr
foreign debt to commercial banks on February 20 and shortly
after announced it was freezing some 16 billion dlrs in
short-term credit lines.
    Banks are not obliged to declare these loans non-performing
before 90 days have elapsed, but the move to announce a
possible decision in this respect was viewed as a means of
exerting pressure on Brazil.
    The bank committee, headed by Citibank, had been pressing
Brazil to make at least a token payment of interest but Gros
said this was not possible right now.
    "We are not in a position to make a payment at this stage,"
Gros said.
    At the same time, the two sides reached a stopgap
arrangement on the short-term trade and money-market credit
lines, whereby the committee agreed to transmit a Brazilian
request to extend the lines for 60 days until May 31.
    Banks have been indicating they will not renew credit lines
in response to the Brazilian move.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14747" NEWID="9226">
<DATE>25-MAR-1987 07:39:41.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>zhao-ziyang</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0570&#31;reute
u f BC-CHINA-MUST-REFORM-IRR   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA MUST REFORM IRRATIONAL PRICE SYSTEM, ZHAO</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>China's Premier Zhao Ziyang said the
country must continue to reform its "irrational" price system
although this will mean price rises and cause living standards
for some people to fall.
    Zhao said China's price system is irrational due to
"prolonged negligence of the law of value and due to the rigid
and excessive state control."
    "The prices of farm products, energy, raw and semi-finished
materials and other primary products have long been too low and
many products have long been in short supply," he said.
    Price reforms are necessary to "establish a new vigorous
socialist economic structure, to effectively promote production
and commodity circulation and provide correct guidance to
consumption," Zhao added.
    Reforms are bound to lead to a rise in the general price
level but will only be implemented after careful studies so as
to keep the increase within the capacity of society and the
people "to withstand the strain."
     He said the general price level will rise in 1987 less
than in 1986, with price increases of a very small number of
products.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14748" NEWID="9227">
<DATE>25-MAR-1987 07:43:05.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f0578&#31;reute
u f BC-SEVERE-DROUGHT-AFFECT   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SEVERE DROUGHT AFFECTS EAST, NORTHEAST THAILAND</TITLE>
<DATELINE>    BANGKOK, March 25 - </DATELINE><BODY>A severe drought has affected 170,560
hectares of farmlands in six eastern and northeastern
provinces, Interior Permanent Secretary Pisarn Mulasartsathorn
said.
    He told reporters some 178,790 farming families in 45
districts in Chaiyaphum, Korat, Phrae, Chainat, Rayong and Trat
provinces were seeking relief water from the government.
    The official did not say what crops have been damaged.
    Senior Interior Ministry officials said this week the worse
than average drought this year has affected 14 provinces and
may last until early May.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14749" NEWID="9228">
<DATE>25-MAR-1987 07:50:39.21</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;f0593&#31;reute
u f BC-BICC-SEEKS-ACCELERATE   03-25 0112</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
BICC SEEKS ACCELERATED EARNINGS GROWTH LONDON, March 25 - BICC
Plc &lt;BICC.L>, which earlier announced a 10 pct rise in 1986
pre-tax profits, said it was determined to achieve higher
levels of performance, quality and service to accelerate its
improvement in earnings.
    BICC said in a statement that sales in BICC Cables were
down on 1985 due to a sharp drop in demand for cable in the oil
and chemical industries after the oil price drop. But profits
in Balfour Beatty were substantially improved.
    Profits increased in BICC Technologies and in BICC
International in local currency terms, while Associated British
Cables had another excellent year, the company said.
    BICC shares were last quoted at 357p, up from 344p at
yesterday's close, in buoyant response to results which were
ahead of market expectations, dealers said.
    BICC pre-tax profits rose to 101 mln stg in 1986 from 92
mln in 1985, with turnover rising from 2.11 billion stg in 1985
to 2.14 billion stg in 1986.
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14750" NEWID="9229">
<DATE>25-MAR-1987 08:03:02.71</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;f0620&#31;reute
u f BC-OCEAN-TRANSPORT-AND-T   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>OCEAN TRANSPORT AND TRADING PLC &lt;OTTL.L> YEAR 1986</TITLE>
<DATELINE>    LONDON, March 25 -
    </DATELINE><BODY>Shr net basis 21.4p vs 17.5p
    Div 6.1p making 9p vs 6.5p
    Pretax profit 37.2 mln stg vs 31.9 mln
    Net after tax 25.7 mln vs 20.3 mln
    Minority interest 700,000 vs 1.1 mln
    Extraordinary debit 1.9 mln vs 3.5 mln
    Turnover 827 mln vs 766.9 mln
    Note - The company said the sale of the minority holding in
OCL in 1986 has transformed the balance sheet and enables it to
accelerate development.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14751" NEWID="9230">
<DATE>25-MAR-1987 08:10:23.65</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0641&#31;reute
u f BC-DART-GROUP-RAISES-SUP   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>DART GROUP RAISES SUPERMARKETS GENERAL &lt;SGL> BID</TITLE>
<DATELINE>    LANDOVER, Md., March 25 - </DATELINE><BODY>&lt;Dart Group Corp> said it has
raised its offer to acquire Supermarkets General Corp to 42.00
dlrs in cash and three dlrs in exchangeable preferred stock per
Supermarkets General share from 41.75 dlrs per share in cash.
    The company said it would also be willing to negotiate a
plan with the Supermarkets General board under which
Supermarkets General shareholders would have a common stock
interest in the combined company.  It said it remains willing
to negotiate all terms of the proposed acquisition.
    The original bid was worth about 1.62 billion dlrs.
    Dart said the preferred stock in the new bid would be
exchangeable for a new class of Supermarkets General debt
securities that would be developed by Dart and Supermarkets.
    The new proposal would be subject to approval by the
Supermarkets General board, it said.  The new bid was contained
in a letter to the Supermarkets General board.
    In Woodbridge, N.J., Supermarkets General -- responding to
a previous letter to its board by Dart -- said "Your conduct
indicates to us that no transaction involving trust and
confidence can be entered into with you.  Your propaganda and
missstatements will not panic our board."
    Dart, in its previous letter, had alleged that Supermarkets
General executives were seeking millions of dollar in severance
and tax payments from Dart.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14752" NEWID="9231">
<DATE>25-MAR-1987 08:13:22.13</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;f0654&#31;reute
r f BC-OLSON-INDUSTRIES-INC   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>OLSON INDUSTRIES INC &lt;OLSN> 4TH QTR NET</TITLE>
<DATELINE>    SHERMAN OAKS, Calif., March 25 -
    </DATELINE><BODY>Oper shr 28 cts vs 1.16 dlrs
    Oper net 194,000 vs 1,255,000
    Sales 27.5 mln vs 30.5 mln
    Year
    Oper shr 2.68 dlrs vs 63 cts
    Oper net 1,880,000 vs 684,000
    Sales 100.5 mln vs 115.6 mln
    Avg shrs 700,086 vs 1,079,165
    NOTE: 1986 net excludes tax credits of 1,042,000 dlrs in
quarter and 1,603,000 dlrs in year.
    Net excludes discontinued operations gain 330,000 dlrs vs
loss 385,000 dlrs in quarter and gain 485,000 dlrs vs loss
2,692,000 dlrs in year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14753" NEWID="9232">
<DATE>25-MAR-1987 08:13:32.48</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0656&#31;reute
r f BC-OLSON-&lt;OLSN>-TO-HAVE   03-25 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>OLSON &lt;OLSN> TO HAVE LOSS FROM EGG UNIT SALE</TITLE>
<DATELINE>    SHERMAN OKAS, Calif., March 25 - </DATELINE><BODY>Olson Industries Inc said
it is in final negotiations on the sale of its remaining egg
operations and expects the sale to generate a charge of about
two mln dlrs against 1987 net income.
    The company said, however, that the sale will generate
substantial cash flow to pay off bank debt and improve working
capital, eliminate unmanageable effects on profits of the price
instability of the egg business and allow it to concentrate on
its plastics packaging business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14754" NEWID="9233">
<DATE>25-MAR-1987 08:14:49.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0658&#31;reute
u f BC-JEFFERIES-&lt;JEFG>-SETS   03-25 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>JEFFERIES &lt;JEFG> SETS SUPERMARKETS &lt;SGL> MARKET</TITLE>
<DATELINE>    LOS ANGELES, March 25 - </DATELINE><BODY>Jefferies Group Inc said it is
making a market in the stock of Supermarkets General Corp.
    It said the current bid is 45 dlrs bid, 46 dlrs offered.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14755" NEWID="9234">
<DATE>25-MAR-1987 08:20:42.04</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0671&#31;reute
r f BC-E.D.-and-F.-MAN-TO-BU   03-25 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>E.D. And F. MAN TO BUY INTO HONG KONG FIRM</TITLE>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>The U.K. Based commodity house E.D.
And F. Man Ltd and Singapore's Yeo Hiap Seng Ltd jointly
announced that Man will buy a substantial stake in Yeo's 71.1
pct held unit, Yeo Hiap Seng Enterprises Ltd.
    Man will develop the locally listed soft drinks
manufacturer into a securities and commodities brokerage arm
and will rename the firm Man Pacific (Holdings) Ltd.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14756" NEWID="9235">
<DATE>25-MAR-1987 08:24:17.92</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;f0679&#31;reute
r f BC-ORACLE-CORP-&lt;ORCL>-3R   03-25 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>ORACLE CORP &lt;ORCL> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    BELMONT, Calif., March 25 -
    </DATELINE><BODY>Shr 16 cts vs eight cts
    Net 4,834,000 vs 2,052,000
    Revs 34.9 mln vs 16.0 mln
    Avg shrs 31.1 mln vs 26.8 mln
    Nine mths
    Shr 26 cts vs 13 cts
    Net 8,006,000 vs 3,310,000
    Revs 80.9 mln vs 34.5 mln
    Avg shrs 30.8 mln vs 26.3 mln
    NOTE: Share adjusted for two for one stock split.
    Current year net includes capitalized software costs of
1,295,000 dlrs in quarter and 3,701,000 dlrs in nine mths.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14757" NEWID="9236">
<DATE>25-MAR-1987 08:24:40.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0681&#31;reute
r f BC-DISNEY-&lt;DIS>-OPENING   03-25 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>DISNEY &lt;DIS> OPENING EXPERIMENTAL RETAIL OUTLET</TITLE>
<DATELINE>    BURBANK, Calif., March 25 - </DATELINE><BODY>Walt Disney Co said it will
open its first non-tourist retail operation on March 28 at the
Galleria shopping mall in Glendale, Calif.
    The company said the 2,400 square foot store will test
consumer response to a retail outlet featuring all Disney
character merchandise.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14758" NEWID="9237">
<DATE>25-MAR-1987 08:24:56.16</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0682&#31;reute
r f BC-ENTERRA-CORP-&lt;EN>-4TH   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>ENTERRA CORP &lt;EN> 4TH QTR LOSS</TITLE>
<DATELINE>    HOUSTON, March 25 -
    </DATELINE><BODY>Shr loss 4.14 dlrs vs loss 19 cts
    Net loss 37.1 mln vs loss 1,712,000
    Revs 27.3 mln vs 33.4 mln
    Year
    Shr loss 5.51 dlrs vs loss 73 cts
    Net loss 49.3 mln vs loss 6,544,000
    Revs 109.0 mln vs 141.9 mln
    NOTE: 1986 net both periods includes 34.8 mln dlr
weritedown of assets of services segment and Southeast Asian
joint venture.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14759" NEWID="9238">
<DATE>25-MAR-1987 08:25:20.82</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;f0683&#31;reute
r f BC-JOHNSTOWN/CONSOLIDATE   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>JOHNSTOWN/CONSOLIDATED REALTY TRUST &lt;JCT> NET</TITLE>
<DATELINE>    EMERYVILLE, Calif., March 25 - </DATELINE><BODY>4th qtr
    Shr 15 cts vs eight cts
    Net 1,800,000 vs one mln
    Year
    Shr 51 cts vs 1.10 dlrs
    Net 6,200,000 vs 13.2 mln
    NOTE: Net includes loan loss provisions of 14 cts shr vs 18
cts in quarter and 24 cts shr vs 36 cts in year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14760" NEWID="9239">
<DATE>25-MAR-1987 08:25:56.56</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0687&#31;reute
r f BC-DURIRON-&lt;DURI>-COMPLE   03-25 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>DURIRON &lt;DURI> COMPLETES VALTEK &lt;VALT> PURCHASE</TITLE>
<DATELINE>    DAYTON, Ohio, March 25 - </DATELINE><BODY>Duriron Co Inc said it has
completed the acquisition of Valtek Inc for 11.75 dlrs per
share following Valtek shareholder approval yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14761" NEWID="9240">
<DATE>25-MAR-1987 08:26:17.61</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0689&#31;reute
s f BC-WASHINGTON-FEDERAL-SA   03-25 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>WASHINGTON FEDERAL SAVINGS &lt;WFSL> QUARTERLY DIV</TITLE>
<DATELINE>    SEATTLE, Wash., March 24 -
    </DATELINE><BODY>Qtly div 17 cts vs 17 cts
    Pay April 24
    Record April 7
    Note: year ago adjusted to reflect March 19 three-for-two
stock split.
    (Washington Federal Savings and Loans Association)
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14762" NEWID="9241">
<DATE>25-MAR-1987 08:27:16.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0692&#31;reute
a f BC-SINGER-&lt;SMF>-GETS-TEX   03-25 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGER &lt;SMF> GETS TEXAS AIR &lt;TEX> CONTRACT</TITLE>
<DATELINE>    STAMFORD, Conn., March 25 - </DATELINE><BODY>Singer Co said it has signed a
12-year contract with Texas Air Corp's Continental Airlines Inc
unit to lease Continental an aircraft simulator for flight crew
training.
    Singer said it will also market training on the simulator
to other airlines.
    The company said initially it will provide a simulator for
McDonnell Douglas Corp's MD-80 but will replace that simulator
in 1988 with one for the MD-82.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14763" NEWID="9242">
<DATE>25-MAR-1987 08:30:38.10</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;f0698&#31;reute
u f BC-ROWLEY-SCHER-&lt;RSCH>-T   03-25 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>ROWLEY-SCHER &lt;RSCH> TO HAVE LOSS FOR YEAR</TITLE>
<DATELINE>    BELTSVILLE, Md., March 25 - </DATELINE><BODY>Rowley-Scher Reprographics Inc
said it expects to report an operating loss and a loss from the
sale of its Mid South Repro subsidiary for the year ending
MArch 31.
    Last year, the company reported earnings of 977,000 dlrs.
    Rowley-Scher did not disclose details of the sale of Mid
South Repro.
    It said the sale has eliminated an unprofitable operation.
    The company also said it will open two new reprographic
centers in the Washington/Baltimore area within the next three
weeks, brining the total there to 11, and a new downtown Boston
location in the same time period, brining the number in the
Boston area to four.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14764" NEWID="9243">
<DATE>25-MAR-1987 08:32:45.43</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0704&#31;reute
f f BC-******DIXONS-SAID-IT   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DIXONS SAID IT GOT AND ACCEPTED ONLY 20 PCT OF CYCLOPS SHARES IN TENDER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14765" NEWID="9244">
<DATE>25-MAR-1987 08:34:10.95</DATE>
<TOPICS></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;f0711&#31;reute
u f BC-LONDON-ON-RISE-AS-TRA   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>LONDON ON RISE AS TRADING CENTRE IN U.S. DEBT</TITLE>
<AUTHOR>    By Norma Cohen, Reuters</AUTHOR>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>London's rise as a trading centre for
U.S. Government debt has been spurred by the increasing use of
interest rate swaps, which are now arranged for most new issues
in the eurobond markets, traders and analysts said.
    Indeed, eurobond traders estimate that about 80 pct of all
new debt issued here last year -- over 186 billion dlrs worth
-- was part of either an interest rate or currency swap.
    "The U.S. Treasuries market here is swap-driven," said David
Jones, vice president at Goldman Sachs and Co international and
head of its U.S. Government bond trading desk.
    "It is commonplace to have trades of 100 mln dlrs or more in
10-years, seven years or five years, all related to an interest
rate swap or hedging of a eurobond deal," Jones said at a recent
conference on the U.S. Treasuries market.
    Just a year or so ago, he said, trades of that size going
through brokers screens in London were unthinkable.
    Traders said that over the past two weeks, while trading in
U.S. Treasuries has been almost frozen by indecision over the
direction of interest rates, swap-related deals have provided
the sole source of new business.
    Dealers said that last week, a 260 mln dlr trade involving
two and 10-year Treasuries was transacted on brokers' screens.
    The trade, they said, was swap related.
    There are no firm figures on exactly how much U.S. Treasury
debt is traded here and estimates vary widely.
    But Wrightson Economics, a U.S.-based research firm which
drew its data from U.S. Treasury reports, estimated that gross
transactions in U.S. Government securities in London rose to
341 billion dlrs in the first nine months of 1986 alone,
against 188 billion in all of 1985.
    Wrightson estimates that about 20 pct of all U.S. Treasury
trading is transacted outside the U.S., With Tokyo forming the
third major centre.
    And while figures are not yet available for the last
quarter, the anecdotal evidence suggests that the trend
continued, traders say.
    Richard Lacy, chief executive at Exco International, put
average daily Treasuries trading volume in London at about 15
billion dlrs. Exco recently purchased an 80 pct interest in RMJ
Securities inc, one of the four major brokers in U.S.
Government bonds which has offices in London, New York and
Tokyo.
    But Dick Van Splinter, president of RMJ's competitor,
Fundamental Brokers Inc's London operations, estimates average
daily turnover is no more than four to five billion dlrs.
    But even at the low range of estimates, Treasuries trading
volume is at least equal to that in the U.K.'s own government
bonds, known as gilts.
     Jeremy Ford, vice president at Bankers Trust International
Ltd, explained that U.S. Treasuries are used by intermediaries
in swap transactions to lock in the "spread," the difference
between the interest rate the borrower has to pay and the rate
that the counterparty is obliged to pay.
    But even beyond swap-related activity, dealers said the
nature of trading in London has changed.
    "The interesting thing our figures show is the transition in
London from a marketing effort to a trading effort," said Louis
Crandall, an economist at Wrightson who has been collecting the
data.
    Crandall said that previously, firms' activities were
limited to trying to sell U.S. Securities to European
investors. Now, however, they appear increasingly willing act
as principal in transactions rather than acting on behalf of
their New York offices.
    Increasingly, traders say, firms maintain separate profit
and loss sheets for their London operations so that trading
decisions can be made independently from the U.S. Headquarters.
    Many of the major U.S. Firms, including Merrill Lynch and
Co, Shearson Lehman Brothers Inc and Chemical Bank trade for
their own accounts here.
    Also, traders point out, the number of U.S. Firms operating
in London has increased sharply over the past year, as has the
number of European and Asian banks which trade U.S. Government
securities.
    Within the past few months, National
Westminster Bank Plc's County Bank subsidiary and Swiss Bank
Corp have applied to the Federal Reserve Bank of New York to
become primary dealers in U.S. Government securities and their
London offices have just recently received direct-dealing
brokers screens.
    And Donaldson Lufkin Jenrette, already a primary dealer, is
preparing to open a U.S. Treasuries trading desk in London.
    Dick Van Splinter, president of Fundamental Brokers Inc,
the largest of the four major government bond brokers here,
said he now has 45 firms using direct-dealing screens, up from
35 a year ago.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14766" NEWID="9245">
<DATE>25-MAR-1987 08:36:41.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0722&#31;reute
d f BC-MATSUSHITA-TO-ISSUE-2   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>MATSUSHITA TO ISSUE 200 BILLION YEN CONVERTIBLE</TITLE>
<DATELINE>    OSAKA, March 25 - </DATELINE><BODY>Matsushita Electric Industrial Co Ltd
&lt;MC.T> said it will issue a 200 billion yen unsecured
convertible bond in the domestic capital market through public
placement with Yamaichi Securities Co Ltd, Nomura Securities Co
Ltd, Nikko Securities Co Ltd, Daiwa Securities Co Ltd and
National Securities Co Ltd as underwriters.
    Coupon and conversion price for the par-priced bond
maturing on September 30, 1996, will be set before payment on
May 2.
    This issue equals in size a record one by Toyota Motor Corp
last December.
    Matsushita's shares closed on the Tokyo Stock Exchange at
1,640 yen, down 50 from yesterday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14767" NEWID="9246">
<DATE>25-MAR-1987 08:38:10.55</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;f0727&#31;reute
u f BC-DIXONS-GETS-ONLY-20-P   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>DIXONS GETS ONLY 20 PCT OF CYCLOPS &lt;CYL> IN BID</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>&lt;Dixons Group PLC> said only about
852,000 shares of Cyclops Corp common stock, or 20 pct on a
fully diluted basis, were tendered and not withdrawn under its
bid for all shares that expired yesterday, but the companmy has
still decided to accept all shares validly tendered.
    The company said it now has about 22 pct ownership of
Cyclops on a fully diluted basis and expects to proceeds toward
completion of its proposed acquisition of Cyclops.
    Last week, before extending its Cyclops offer for one week
at the request of the Securities and Exchange Commission,
Dixons had reported that 54 pct of Cyclops' stock had been
tendered in response to its 90.25 dlrs per share offer which
expired at 2400 EST yesterday.
    Yesterday, CAYACQ Corp dropped certain conditions of its
92.50 dlrs a share offer for Cyclops and firmed up the
financing for the proposed transaction. CAYACQ, an investor
group led by Audio/Video Affiliates Inc and Citicorp, raised
the value of its offer from 80 dlrs per Cyclops share on Friday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14768" NEWID="9247">
<DATE>25-MAR-1987 08:48:54.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>usa</D><D>nicaragua</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0742&#31;reute
r f AM-BRITAIN-CONTRAS   03-25 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>OPPOSITION SAYS UK GOV'T GAVE ARMS TO CONTRAS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>A leading member of Britain's opposition
Labour Party said there was strong evidence Prime Minister
Margaret Thatcher approved the sale of anti- aircraft missiles
to Nicaraguan Contra rebels during talks last year with U.S.
Officials involved in the Iran arms scandal.
    Labour foreign affairs spokesman George Foulkes told
parliament the U.S. Tower Commission report on the sale of arms
to Iran showed Colonel Oliver North had tried to obtain 20
Blowpipe missiles and 10 launchers through a South American
country from a Belfast-based company, Short Brothers, which
manufactures the missiles.
    Short Brothers is owned by the British Government.
    Junior Foreign Officer Minister Timothy Eggar dismissed the
claims as "wild and fanciful allegations" with no foundation.
    Foulkes said North testified he was seeking the help of "a
head of an allied government" in obtaining the Blowpipes and
suggested the supply of missiles was discussed during two
meetings which he said took place between North, the then head
of the CIA William Casey and Thatcher in 1986.
    "We need to know what happened at those meetings between Mr
Casey, Colonel North and the Prime Minister last year. What
were they talking about if it were not the supply of Blowpipe
missiles to the Contra terrorists?" Foulkes said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14769" NEWID="9248">
<DATE>25-MAR-1987 08:49:32.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0745&#31;reute
d f BC-BRAZIL-ANNOUNCES-NEW   03-25 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL ANNOUNCES NEW PLANNING MINISTER</TITLE>
<DATELINE>    BRASILIA, March 25 - </DATELINE><BODY>Brazil's new Planning Minister is
Anibal Teixeira de Souza, the former head of a national welfare
program, the government said.
    Teixeira replaces economist Joao Sayad, who last week
became the latest victim of the turmoil in Brasilia over
government economic policy.
    Sayad disagreed with Finance Minister Dilson Funaro on a
range of policy issues and submitted his resignation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14770" NEWID="9249">
<DATE>25-MAR-1987 08:50:07.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0747&#31;reute
d f BC-CITIBANK-LAUNCHES-CUR   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CITIBANK LAUNCHES CURRENCY WARRANTS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Citibank NA is issuing up to 50,000
currency warrants that give the holder a call right on U.S.
Dollars from marks or yen, Citicorp Investment Bank Ltd said as
sole manager.
    Each warrant, priced at 47.50 dlrs, gives the holder the
right to purchase a nominal sum of 500 dlrs for either 182.50
marks or 149.50 yen between March 31, 1987 and March 31, 1989.
    The warrants will be listed in Luxembourg and pay date is
March 31. Exercise, requiring one day's notice, must be for a
minimum of 100 warrants through one currency only.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14771" NEWID="9250">
<DATE>25-MAR-1987 08:50:40.31</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0752&#31;reute
u f BC-KAUFMAN-AND-BROAD-HOM   03-25 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>KAUFMAN AND BROAD HOME CORP &lt;KBH> 1ST QTR FEB 28</TITLE>
<DATELINE>    LOS ANGELES, March 25 -
    </DATELINE><BODY>Shr 17 cts vs seven cts
    Net 4,678,000 vs 1,856,000
    Revs 110.5 mln vs 61.7 mln
    Avg shrs 27.0 mln vs 25.0 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14772" NEWID="9251">
<DATE>25-MAR-1987 08:51:04.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0755&#31;reute
r f BC-METRO-CABLE-&lt;METO>-TO   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>METRO CABLE &lt;METO> TO SELL PARTNERSHIP</TITLE>
<DATELINE>    ENGLEWOOD, Colo., March 25 - </DATELINE><BODY>Metro Cable Corp said it has
entered into a letter of intent for the sale of limited
partnership Intermountain Cable Associates for about 3,250,000
dlrs.
    Metro and DMN Cable Investors are co-general partners for
Intermountain.  The name of the buyer was not disclosed.
    Metro said it has also transfered its northwest Iowa and
eastern Colorado cablevision systems into a new wholly-owned
subsidiary called MCC Cablevision. 
    Metro said the new unit received 2,700,000 dlrs in
financing from Bank of Boston Corp &lt;BKB> which was used to
retire Metro Cable's outstanding debt to &lt;National Bank of
Canada> and for working capital.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14773" NEWID="9252">
<DATE>25-MAR-1987 08:51:19.67</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;f0757&#31;reute
r f BC-RENOUF-HAS-93.4-PCT-O   03-25 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>RENOUF HAS 93.4 PCT OF BENEQUITY &lt;BH> UNITS</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>&lt;Renouf Corp International> said it
now owns 93.4 pct of Benequity Holdings a California Limited
Partnership.
    Renouf  said it has accepted for payment all 3,914,968
units of Benequity Holdings tendered in response to its 31 dlrs
per unit offer. Along with the 1,449,550 units already held by
Renouf, it now owns 93.4 pct of the 5,745,706 units outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14774" NEWID="9253">
<DATE>25-MAR-1987 08:51:32.15</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>australia</D><D>papua-new-guinea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0759&#31;reute
d f BC-OIL-ANALYST-SEES-PAPU   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>OIL ANALYST SEES PAPUA NEW GUINEA AS GOOD PROSPECT</TITLE>
<DATELINE>    SURFERS PARADISE, Australia, March 25 - </DATELINE><BODY>Papua New Guinea
(PNG) provides the most exciting new prospect in the
Asia-Pacific region for oil production, energy analyst Fereidun
Fesharaki said here.
    The recent successful find at Iagifu is likely to put PNG
on the list of major oil exporters by the early 1990s, he told
the Australian Petroleum Exploration Association annual
conference.
    Fesharaki, leader of the Energy Program at the East-West
Center in Honolulu, Hawaii, was speaking on the Asia-Pacific
petroleum outlook.
    With domestic demand of around 12,000 barrels per day (bpd)
and prospects of production of over 100,000 bpd by late 1991,
PNG would become an Ecuador-level crude exporter, Fesharaki
said.
    The Iagifu wells in the Papuan Basin have recorded the best
oil flows in more than 60 years of exploration in PNG.
    The PNG government's Geological Survey in a paper
distributed at the conference estimates Iagifu reserves at
about 500 mln barrels.
    PNG enjoys the most liberal tax regime in the region with
no secondary taxes, Fesharaki said.
    "We expect a much larger oil search in Papua New Guinea, and
discovery of much larger volumes of oil, similar in quality to
(light) Bass Strait crude," Fesharaki said.
    There are also large pockets of high quality condensates to
be produced, notably in the Juha field near Iagifu which is
capable of producing 30,000 to 40,000 bpd, he said.
    But prices should be somewhat higher than the present
levels to justify development of the Juha field, he said.
    The PNG Geological Survey paper noted there are five large
prospective but little-explored sedimentary basins in PNG.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14775" NEWID="9254">
<DATE>25-MAR-1987 08:52:36.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>zhao-ziyang</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0766&#31;reute
d f BC-CHINA-TO-TIGHTEN-IMPO   03-25 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TO TIGHTEN IMPORT CONTROL, CUT EXPORT COST</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>China should tighten imports of ordinary
goods and restrict or even forbid import of goods which can be
made domestically, Premier Zhao Ziyang said.
    He told the National People's Congress, China's parliament,
that the country's foreign exchange is limited and must be used
where it is most needed. "We should expand production of import
substitutes and increase their proportion," he said. On exports,
China should increase its proportion of manufactured goods,
especially textiles, light industrial goods, electronics and
machinery, he said.
    Zhao said China should lower the cost of exports and
control the export of goods that incur too much loss.
    Zhao said China should work to provide a more favourable
investment environment for foreign businessmen.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14776" NEWID="9255">
<DATE>25-MAR-1987 08:56:32.23</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0784&#31;reute
s f BC-USAIR-GROUP-INC-&lt;U>-S   03-25 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>USAIR GROUP INC &lt;U> SETS QUARTERLY</TITLE>
<DATELINE>    WASHINGTON, March 25 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay April 30
    Record April 16
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14777" NEWID="9256">
<DATE>25-MAR-1987 09:02:05.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>zhao-ziyang</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0800&#31;reute
d f BC-CHINA-MUST-CUT-DEMAND   03-25 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA MUST CUT DEMAND, CONTINUE REFORMS: ZHAO</TITLE>
<DATELINE>    PEKING, March 25 - </DATELINE><BODY>China must cut excess demand and capital
investment in the face of budget and foreign exchange deficits
but will press ahead with wide-ranging economic reforms in
1987, Premier Zhao Ziyang told parliament.
    Zhao told the annual meeting of the National People's
Congress that while China cooled its overheated economy, cut
its trade deficit and raised national living standards in 1986,
serious imbalances remain.
    Zhao said total social demand exceeds total supply, and
demand for consumer goods, especially from state firms, is too
high. "(They) squander public funds to a serious extent ... (and
issue) excessive wage and bonus increases," he said.
    Failure to cut this excess will "result in reduced
accumulation of funds...And serve to corrupt social morality,"
Zhao said. He said there was a contradiction between low per
capita incomes and excessively high consumer demand.
    China needs to accumulate enormous funds for construction
in its initial stage of socialist modernisation and consumption
must match the available resources, he said.
    Zhao said there was a deficit in state finances in 1986
because of the sharp fall in world oil prices, the rising cost
of foreign exchange earnings through exports, reduced income
from customs duties and unreasonably heavy spending.
    Investment in energy, transport, telecommunications and raw
and semi-finished materials industries is inadequate and
investment in non-productive projects is too large, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14778" NEWID="9257">
<DATE>25-MAR-1987 09:05:42.07</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;f0807&#31;reute
u f BC-YUGOSLAVIA-SEEKS-600   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>YUGOSLAVIA SEEKS 600 MLN ECU LOAN FROM EC</TITLE>
<DATELINE>    BELGRADE, March 25 - </DATELINE><BODY>Yugoslavia is seeking a loan of 600
mln ECUs from the European Community for transport system
modernisation, Deputy Finance Minister Boris Skapin was quoted
by the official Tanjug news agency.
    The community has offered Yugoslavia only 380 mln ECUs, he
said. The loan is to help finance completion of Yugoslavia's
north-south motorway, railway modernisation and export-oriented
industrial projects.
    Skapin told reporters in Brussels yesterday the requested
loan accounted for only 10 pct of total funds needed for these
projects, Tanjug said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14779" NEWID="9258">
<DATE>25-MAR-1987 09:07:44.32</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0811&#31;reute
u f BC-MCFARLAND-&lt;MCFE>-TO-B   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>MCFARLAND &lt;MCFE> TO BUY PETROMINERALS &lt;PTRO></TITLE>
<DATELINE>    SANTA FE SPRINGS, Calif., March 25 - </DATELINE><BODY>McFarland Energy Inc
said its board and that of Petrominerals Corp have approved a
definitive agreement for McFarland to acquire Petrominerals in
an exchange of stock.
    McFarland said it would exchange one common share for each
5.4 Petrominerals shares.  McFarland said former holders of
Petrominerals will have a 25 pct interest in the combined
company.
    The merger is still subject to approval by shareholders of
both companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14780" NEWID="9259">
<DATE>25-MAR-1987 09:07:56.19</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;f0812&#31;reute
r f BC-timminco-acquires   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>TIMMINCO ACQUIRES UNIVERSAL ADHESIVES</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>&lt;Timminco Ltd> said it acquired
Universal Adhesives Inc, of Memphis, for undisclosed terms, in
a move to expand Timminco's operations into the United States.
    The company said Universal Adhesives, with five U.S.
plants, has annual sales of 12 mln U.S. dlrs, which will double
Timminco's presence in the North American adhesives market.
    Timminco said Universal Adhesives will complement the
company's Canadian-based industrial adhesives division and is a
key step in its long-term goal for expansion in the specialty
chemical field.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14781" NEWID="9260">
<DATE>25-MAR-1987 09:08:01.76</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;f0813&#31;reute
r f BC-paloma-petroleum-ltd   03-25 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;PALOMA PETROLEUM LTD> YEAR NET</TITLE>
<DATELINE>    CALGARY, Alberta, March 25 -
    </DATELINE><BODY>Shr 32 cts vs 29 cts
    Net 3,320,206 vs 2,990,695
    Revs 13.5 mln vs 14.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14782" NEWID="9261">
<DATE>25-MAR-1987 09:11:08.30</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0823&#31;reute
b f BC-U.K.-MONEY-MARKET-SUR   03-25 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET SURPLUS REVISED TO 250 MLN STG</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Bank of England said it revised up
its forecast of today's surplus in the money markets to 250 mln
stg from its earlier estimate of a 150 mln.
    The central bank has not operated in the market today.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14783" NEWID="9262">
<DATE>25-MAR-1987 09:11:17.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0824&#31;reute
r f BC-&lt;TECHNIMED-CORP>-GETS   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TECHNIMED CORP> GETS FDA APPROVAL FOR DRUG</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Technimed Corp said it has received
U.S. Food and Drug Administration approval to market its
proprietary whole blood glucose test.
    The company said the test is the first home diagnostic
glucose test to be approved by the FDA that uses simpler
no-wipe technology. It is designed for use by diabetics in
managing insulin therapy.
    Technimed said it has entered into talks with "several
major pharmaceutical companies" on the marketing of the test.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14784" NEWID="9263">
<DATE>25-MAR-1987 09:11:21.47</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;f0825&#31;reute
r f BC-american-resource   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;AMERICAN RESOURCE CORP LTD> YEAR NET</TITLE>
<DATELINE>    TORONTO, March 25 -
    </DATELINE><BODY>Shr five cts vs 51 cts
    Net 2,300,000 vs 22,500,000
    Revs not given
    Note: Prior shr and net include 20.3 mln U.S. dlr gain on
sale of equity holdings
    Results in U.S. funds
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14785" NEWID="9264">
<DATE>25-MAR-1987 09:18:18.45</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0838&#31;reute
f f BC-******WASTE-MANAGEMEN   03-25 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WASTE MANAGEMENT ENDS TENDER OFFER FOR CHEMLAWN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14786" NEWID="9265">
<DATE>25-MAR-1987 09:21:01.23</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0844&#31;reute
u f BC-WEST-GERMAN-COFFEE-IM   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMAN JAN COFFEE IMPORTS DOWN ON YEAR-AGO</TITLE>
<DATELINE>    HAMBURG, March 25 - </DATELINE><BODY>West German gross green coffee imports
in January fell sharply to 38,616 tonnes from 54,576 in January
last year, figures from the Federal Statistics Office show.
    Imports of decaffeinated unroasted coffee were 396 tonnes
against nil a year earlier.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14787" NEWID="9266">
<DATE>25-MAR-1987 09:21:26.36</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0845&#31;reute
r f BC-ONE-VALLEY-BANCORP-&lt;O   03-25 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>ONE VALLEY BANCORP &lt;OVWV> RAISES QUARTERLY</TITLE>
<DATELINE>    CHARLESTON, W.Va., March 25 -
    </DATELINE><BODY>Qtly div 26 cts vs 25 cts prior
    Pay April 15
    Record March 31
    NOTE: One Valley Bancorp of West Virginia Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14788" NEWID="9267">
<DATE>25-MAR-1987 09:21:39.02</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;f0846&#31;reute
r f BC-NATIONAL-DATA-CORP-&lt;N   03-25 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL DATA CORP &lt;NDTA> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    ATLANTA, March 25 -
    </DATELINE><BODY>Shr 31 cts vs 26 cts
    Net 3,516,000 vs 2,972,000
    Revs 40.0 mln vs 36.3 mln
    Avg shrs 11.4 mln vs 11.2 mln
    Nine mths
    Shr 89 cts vs 73 cts
    Net 10.0 mln vs 8,146,000
    Revs 116.8 mln vs 105.0 mln
    Avg shrs 11.3 mln vs 11.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14789" NEWID="9268">
<DATE>25-MAR-1987 09:21:53.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0847&#31;reute
u f BC-NVHOMES-&lt;NVH>-SETS-TW   03-25 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>NVHOMES &lt;NVH> SETS TWO-FOR-ONE SPLIT</TITLE>
<DATELINE>    MCLEAN, Va., March 25 - </DATELINE><BODY>NVHomes LP said its board declared
a two-for-one split of Class A units, payable to shareholders
of record on April 20.
    It said certificates will be distributed about two weeks
after the record date.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14790" NEWID="9269">
<DATE>25-MAR-1987 09:22:43.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0848&#31;reute
r f BC-american-resourcesets   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN RESOURCE SETS RIGHTS OFFERING</TITLE>
<DATELINE>    TORONTO, March 24 - </DATELINE><BODY>&lt;American Resource Corp Ltd> said the
board approved a rights offering to class A non-voting
shareholders to be made on a one-for-one basis and expected to
raise between 80 mln and 100 mln dlrs.
    The company said a preliminary prospectus will be filed in
Canada later this week and final terms for the rights offering
will not be set until a final prospectus is filed.
    American Resource intends to use proceeds to expand its
investment and merchant banking activities mainly in the United
States, it said.
    Underwriters for the rights offering are Merrill Lynch
Canada Inc, Loewen, Ondaatje, McCutcheon and Co Ltd, Burns Fry
Ltd and Richardson Greenshields of Canada Ltd, American
Resource said.
    The company also said Peter Gottsegen, formerly managing
director of international corporate finance activities at
Salomon Brothers Inc, was appointed to the board.
    American Resource said it will invest in a U.S. company to
be owned by it and Gottsegen. Gottsegen will be chief executive
of the new company, which will engage in investment and
merchant banking activities in the United States.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14791" NEWID="9270">
<DATE>25-MAR-1987 09:23:22.52</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;f0853&#31;reute
d f BC-VANGUARD-TECHNOLOGIES   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>VANGUARD TECHNOLOGIES INTERNATIONAL INC &lt;VTI></TITLE>
<DATELINE>    FAIRFAX, Va., March 25 -
    </DATELINE><BODY>Shr 19 cts vs 10 cts
    Net 653,464 vs 287,606
    Revs 10.6 mln vs 7,600,000
    Year
    Shr 68 cts vs 46 cts
    Net 2,309,181 vs 1,408,813
    Revs 38.4 mln vs 26.0 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14792" NEWID="9271">
<DATE>25-MAR-1987 09:23:26.54</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0854&#31;reute
d f BC-THOMSON-MCKINNON-U.S.   03-25 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMSON MCKINNON U.S. GOVERNMENT FUND DIVIDEND</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Mthly div 7.3 cts vs 7.5 cts in prior month
    Payable April six
    Record Marcxh 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14793" NEWID="9272">
<DATE>25-MAR-1987 09:23:29.98</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0855&#31;reute
d f BC-THOMSON-MCKINNON-INCO   03-25 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMSON MCKINNON INCOME FUND DIVIDEND</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Mthly div 8.5 cts vs 9.2 cts in prior month
    Payable April six
    Record Marcxh 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14794" NEWID="9273">
<DATE>25-MAR-1987 09:23:34.32</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0856&#31;reute
h f BC-(OAKRIDGE-HOLDINGS-IN   03-25 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>(OAKRIDGE HOLDINGS INC) 2ND QTR DEC 31 NET</TITLE>
<DATELINE>    HILLSIDE, ILL., March 25 -
    </DATELINE><BODY>Shr 48 cts vs four cts
    Net 882,000 vs 82,000
    Sales 968,000 vs 784,000
    Six mths
    Shr 53 cts vs 11 cts
    Net 970,000 vs 202,000
    Sales 2,001,000 vs 1,521,000
    NOTE: 1986 net includes a gain of 26 cts a share from the
sale of a funeral home, and tax credits of 20 cts. 1985 net
includes tax credits of one cent in the quarter and 3.7 cts in
the six months period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14795" NEWID="9274">
<DATE>25-MAR-1987 09:24:21.56</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;f0859&#31;reute
d f BC-GENERAL-COMPUTER-CORP   03-25 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL COMPUTER CORP &lt;GCCC> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    TWINSBURG, Ohio, March 25 -
    </DATELINE><BODY>Shr 10 cts vs 20 cts
    Net 146,000 vs 230,000
    Revs 3,766,000 vs 3,271,000
    Avg shrs 1,458,000 vs 1,125,000
    Nine mths
    Shr 15 cts vs 58 cts
    Net 212,000 vs 653,000
    Revs 10.6 mln vs 9,561,000
    Avg shrs 1,458,000 vs 1,125,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14796" NEWID="9275">
<DATE>25-MAR-1987 09:24:38.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0860&#31;reute
d f BC-UK-EQUITIES-SEEN-DUE   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>UK EQUITIES SEEN DUE FOR DOWNWARD CORRECTION</TITLE>
<AUTHOR>    By Iain Pears, Reuters</AUTHOR>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The chances of U.K. Stocks continuing
recent rises as budget euphoria gives way to the uncertainties
of a probable election are small, and market analysts say there
will probably be a downwards correction in the next few weeks.
    The U.K. Market has managed a dizzy rise since the New
Year, with the FT-SE index of 100 leading shares lifting 22.5
pct since January 2 to current levels around 2050.
    "Over the next month or two the odds are that the index will
drop back to around 1,900," said John Goldschmidt, head of
equities research at Chase Manhattan Securities.
    "A five to 10 pct drop is likely. There was a six pct fall
before the 1983 election when the Conservatives were further
ahead in the polls and the market was on a multiple of only 14
instead of 18 now," noted Nick Knight of brokers James Capel.
    "The old adage is "sell in May and go away'. That's likely to
apply this year but will probably start in April," he added.
    But few analysts believed a correction would spell the end
of the bull run that has now lasted for some six years.
    "As long as corporate profits and earnings keep on growing
then the pressure for continued rises will be there. There
seems little prospect of the growth stopping in 1987/1988," one
said.
    Much of the recent enthusiasm has stemmed from the belief,
already virtually discounted, that the ruling Conservatives
will call an election in the next few months - probably June -
and sweep home to a third term in office.
    Even if this does happen, however, pre-election nerves are
likely to produce the traditional effect of damping down the
market until the result is clear.
    "It's likely there will be one or two hiccups of confidence
about the Tories winning an overall majority," Goldschmidt said.
    "It would be quite out of character for the market to
continue to sail serenely upwards right through the election
and beyond," added brokers Phillips and Drew in a recent report.
    The belief that the government itself is worried about the
impact of the Alliance party disrupting the usual two-corner
fight of Conservative and Labour with unpredictable results, is
not likely to give reassurance, one analyst noted.
    Other factors also indicate that the market is vulnerable
to a downwards correction. U.K. Stocks had ridden up partly on
the back of record rises in New York and Japan and a pause in
either suggests that London would inevitably follow suit.
    There would also be little new encouragement provided by
general economic factors as much of the recent optimistic news,
including this month's half point cut in base rates to 10 pct,
is already built into prices.
    "The economy is looking okay, but it can't support 20 pct
increases every three months indefinitely," one said.
    Also, market liquidity, a powerful driving force behind the
recent rises, shows signs of drying up under the pressure of
the government's privatisation campaign.
    The next few months will see cash calls for second tranche
payments on British Gas Plc &lt;BRGS.L> and British Airways Plc
&lt;BAB.L> as well as the proposed sale of &lt;Rolls Royce Plc> and
the as-yet untimetabled sale of the government's 31.7 pct stake
in British Petroleum Co Plc &lt;BP.L>.
    On top of that, there will be calls from the gilt market
even though last week's budget limited the projected 1987/88
borrowing requirement to four billion stg.
    "We are looking for a squeeze on cash flow, and that's not
including rights issues which have been low so far this year
and may pick up in the second quarter," Knight said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14797" NEWID="9276">
<DATE>25-MAR-1987 09:27:56.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0866&#31;reute
h f BC-ENSERCH-ISSUES-100-ML   03-25 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>ENSERCH ISSUES 100 MLN DLR CONVERTIBLE BOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Enserch Inc is issuing 100 mln dlrs of
convertible debt due October 4, 2002 carrying an indicated
coupon of six to 6-3/8 pct and priced at par, Salomon Brothers
International said as lead manager.
    Enserch's stock closed at 22-1/2 last night on the New York
Stock Exchange. The conversion premium is indicated to be 20 to
23 pct. The securities are non-callable for three years.
    There is a 1-1/2 pct selling concession and two pct
combined management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14798" NEWID="9277">
<DATE>25-MAR-1987 09:28:11.83</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0868&#31;reute
d f BC-BRIERLEY-OFFER-FOR-PR   03-25 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BRIERLEY OFFER FOR PROGRESSIVE STILL VALID</TITLE>
<DATELINE>    WELLINGTON, March 25 - </DATELINE><BODY>&lt;Brierley Investments Ltd>, (BIL),
said its offer of 4.20 N.Z. Dlrs per share for supermarket
group &lt;Progressive Enterprises Ltd> still stands, although
&lt;Rainbow Corp Ltd> said today it has 52 pct of Progressive.
    BIL said in a statement it will review events on a daily
basis.
    Rainbow announced earlier that it had increased its stake
in Progressive to 52 pct from 44 pct through the purchase of
9.4 mln shares at between 3.80 and 4.80 N.Z. Dlrs per share.
    BIL chief executive Paul Collins said: "All Rainbow has done
is to outlay a substantial amount of cash to purchase shares
from parties who presumably were supportive of the merger."
    Rainbow has proposed a merger with Progressive to form a
new company, &lt;Astral Pacific Corp Ltd>. Under the merger,
shareholders in both Progressive and Rainbow will be issued
shares in the new company on a one-for-one basis.
    "Quite simply, Rainbow should now bid for the balance of
Progressive Enterprises at 4.80 N.Z. Dlrs per share," Collins
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14799" NEWID="9278">
<DATE>25-MAR-1987 09:28:34.70</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0870&#31;reute
r f BC-AVATAR-HOLDINGS-INC-&lt;   03-25 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>AVATAR HOLDINGS INC &lt;AVTR> YEAR NET</TITLE>
<DATELINE>    CORAL GABLES, Fla., March 25 -
    </DATELINE><BODY>Oper shr 32 cts vs seven cts
    Oper net 2,599,000 vs 550,000
    Revs 94.4 mln vs 69.4 mln
    NOTE: Net excludes tax credits of 1,405,000 dlrs vs
3,538,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14800" NEWID="9279">
<DATE>25-MAR-1987 09:30:05.51</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0873&#31;reute
u f BC-NORWAY-OFFERS-11TH-LI   03-25 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWAY OFFERS 11TH LICENCE ROUND OFFSHORE BLOCKS</TITLE>
<DATELINE>    OSLO, March 25 - </DATELINE><BODY>Norway has offered 10 new offshore blocks
to foreign and domestic applicants in the first phase of the
country's eleventh concession round, government officials said.
    Company shares in each of the licences proposed by the Oil
and Energy Ministry are not final. The ministry has given the
companies 10 days to accept or decline the proposed shares.
    French companies Ste Nationale Elf Aquitaine &lt;ELFP.PA> and
Total Cie Francaise des Petroles &lt;TPN.PA>, which were expected
to receive operatorships following France's agreement last
autumn to purchase gas from Norway's Troll field, were not
offered operatorships in this round, industry sources said.
    Three eleventh round blocks were awarded in the
Haltenbanken exploration tract off central Norway, including
the Smoerbukk West field where Den Norske Stats Oljeselskap A/S
&lt;STAT.OL> (Statoil) was appointed operator.
    Statoil will share the licence with subsidiaries of U.S.
Oil companies Tenneco Inc &lt;TGT.N> and Texas Eastern Corp
&lt;TET.N> and the Italian oil company &lt;Agip SpA>'s Norwegian
subsidiary.
    E.I. Du Pont de Nemours &lt;DD.N> subsidiary Conoco Norway Inc
was named operator on Haltenbanken block 6406/8 and will share
the licence with Statoil.
    Norsk Hydro A/S &lt;NHY.OL> will operate nearby block 6407/10
with partners Statoil, Norsk Agip A/S, Royal Dutch/Shell
Group's &lt;RD.AS> A/S Norske Shell and &lt;Deminex> unit Deminex
(Norge) A/S.
    Statoil has been offered the operatorship on a new block in
the relatively unexplored Moere South exploration area south of
Haltenbanken, with A/S Norske Shell, Texas Eastern and
&lt;Petroleo Brasileiro SA> (Petrobras) also offered stakes in the
block.
    Norwegian companies landed operatorships on all six blocks
opened in the Barents Sea area off northern Norway. The blocks
were awarded in three licenses, each covering two blocks.
    Statoil will head exploration on blocks 7224/7 and 7224/8,
sharing the licence with Exxon Corp's &lt;XON.N> Norwegian
subsidiary Esso Norge A/S, The British Petroleum Co PLC's
&lt;BP.L> BP Petroleum Development (Norway) Ltd, Shell, Norsk
Hydro and Saga Petroleum A/S &lt;SAGP.OL>.
    Blocks 7219/9 and 7220/7 were awarded to Norsk Hydro, the
operator, Statoil, Mobil Corp's &lt;MOB.N> Mobil Exploration
Norway, Petrofina SA's &lt;PETB.BR> Norske Fina A/S and BP.
    The third Barents Sea licence, covering blocks 7124/3 and
7125/1, went to Saga Petroleum A/S, the operator, Statoil,
Atlantic Richfield Co's &lt;ARC.N> Arco Norge A/S, Total Marine
Norge A/S and Amerada Hess Corp &lt;AHC.N>.
    The oil ministry withheld awards on four strategic blocks
included in the eleventh round's second phase.
    The ministry is accepting applications for phase two blocks
until early April and the awards will likely be announced this
summer, officials said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14801" NEWID="9280">
<DATE>25-MAR-1987 09:31:48.94</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0881&#31;reute
u f BC-PERCEPTION-TECHNOLOGY   03-25 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>PERCEPTION TECHNOLOGY &lt;PCEP> TO TAKE CHARGE</TITLE>
<DATELINE>    CANTON, Mass., March 25 - </DATELINE><BODY>Perception Technology Corp said
it expects to take a charge of about 686,000 dlrs or 19 cts per
share against earnings for the second quarter ended March 31
due to the bankruptcy proceeding of customer T.C. of New York
Inc.
    Perception said it has outstanding lease receivables from
T.C. of about 2,480,000 dlrs.
    It said the exact amnount of the charge will depend on the
extent of recovery of the leased equipment involved and on
arrangements that might be made with the bankruptcy court on
the equipment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14802" NEWID="9281">
<DATE>25-MAR-1987 09:34:52.92</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;f0895&#31;reute
b f BC-INSPECTORATE-ISSUES-2   03-25 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>INSPECTORATE ISSUES 200 MLN MARK EQUITY EUROBOND</TITLE>
<DATELINE>    FRANKFURT, March 25 - </DATELINE><BODY>A unit of Inspectorate International
AG &lt;INSZ.Z> is raising 200 mln marks through an equity warrant
eurobond package with a two pct coupon priced at par, lead
manager Schweizerische Bankverein (Deutschland) AG said.
    The five-year bond, for Inspectorate International Finance
NV, gives investors options on two separate warrant series "A"
and "B" exercisable into participation certificates in parent and
guarantor Inspectorate International AG.
    The first "A" series carries warrants for four participation
certificates. Upon exercising the "A" warrants, investors also
get two warrants for the "B" series.
    The "A" exercise period runs from May 7, 1987, to August 6,
1987. The exercise price is 543 Swiss francs.
    Of the two "B" warrants, one entitles investors to purchase
one participation certificate in Inspectorate International AG
and the other provides seven warrants.
    Investors may pay for "B" participation certificates by
redeeming the bond issued today. In this case, the bond, issued
in denominations of 5,000 marks, will be valued at a fixed
price of 4,200 Swiss francs, or 119.05 francs per 100 marks.
    Participation certificates acquired with "B" warrants will be
priced at 597 francs, equalling the price of the first tranche,
plus a 10 pct premium. The exercise period for the "B" series is
from August 8, 1987 to May 5, 1991.
    Fees for the bond total 2-1/4 pct, with 1-1/2 points for
selling, and 1-3/4 for management and underwriting combined.
    Investors will pay for the bond on April 8, and the bond
pays annual interest on the same day. It matures on April 8,
1992. The bond and warrants will be listed in Frankfurt.
    If all participation share warrants are exercised, the
company will obtain some 300 mln marks in new equity.
    The construction allows Inspectorate to borrow at lower
cost than a comparable convertible bond and will give the
Inspectorate equity through issues of participation
certificates in West Germany, a Swiss Bank Corp spokesman said.
    Inspectorate requires funding to finance its purchase of a
51 pct stake in Harpener AG, a diversified West German group,
and other recent acquisitions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14803" NEWID="9282">
<DATE>25-MAR-1987 09:35:22.27</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0896&#31;reute
f f BC-******   03-25 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Bundesbank buys dollars for yen - Frankfurt dealers
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14804" NEWID="9283">
<DATE>25-MAR-1987 09:37:07.26</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0901&#31;reute
u f BC-REUTERS-TO-BUY-I-P-SH   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>REUTERS TO BUY I P SHARP OF CANADA</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Reuters Holdings Plc &lt;RTRS.L> said it
had agreed in principle to buy &lt;I P Sharp Associates Ltd> of
Toronto for 30.4 mln stg.
    Sharp is a time-sharing network and database company
specialising in finance, economics, energy and aviation. It
operates a global packet-switching network and global limits
systems for foreign exchange trading.
    Sharp shareholders will be offered cash, shares or a
mixture of the two in settlement. The acquisition, which is
subject to Canadian government approval, would be through
amalgamation into a specially-created company.
    Reuters said it had been given options by a number of Sharp
shareholders covering 67 pct of the common stock pending
completion of a Reuters review of the company.
    Sharp operates 38 offices in 20 countries. In 1986 it
reported revenue of 55 mln Canadian dlrs with a pretax loss of
1.6 mln compared with a 1.9 mln profit in 1985.
    However, Sharp said that internal accounts showed the
company was in profit in the first two months of 1987.
    End-1986 net assets totalled 11.85 mln dlrs.
    A Reuters statement said the acquisition would fit
perfectly into its package for the banking and securities
industries.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14805" NEWID="9284">
<DATE>25-MAR-1987 09:40:04.86</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0916&#31;reute
u f BC-HORIZON-BANK-&lt;HRZB>-S   03-25 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>HORIZON BANK &lt;HRZB> SETS STOCK SPLIT</TITLE>
<DATELINE>    BELLINGHAM, Wash., March 25 - </DATELINE><BODY>Horizon Bank said its board
declared a three-for-two stock split, payable April 21 to
holders of record April Seven.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14806" NEWID="9285">
<DATE>25-MAR-1987 09:41:35.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0921&#31;reute
u f BC-WASTE-&lt;WMX>-ENDS-OFFE   03-25 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>WASTE &lt;WMX> ENDS OFFER FOR CHEMLAWN &lt;CHEM></TITLE>
<DATELINE>    OAK BROOK, ILL., March 25 - </DATELINE><BODY>Waste Management Inc said its
wholly owned subsidiary, WMX Acquisition Corp, ended its tender
offer to buy shares of ChemLawn Corp at 35 dlrs a share.
    All shares tendered to Waste Management will be returned to
shareholders as soon as practical, it said.
    Earlier this week, ChemLawn agreed to accept a merger
proposal at 36.50 dlrs a share from Ecolab Inc in a transaction
valued at about 370 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14807" NEWID="9286">
<DATE>25-MAR-1987 09:41:58.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0923&#31;reute
r f BC-core-mark-intn'l   03-25 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>CORE-MARK INTERNATIONAL NAMES ACTING CHAIRMAN</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 25 - </DATELINE><BODY>Core-Mark
International Inc said vice-chairman Edward Stanton will become
acting chairman until the company's annual meeting following
the previously announced resignation of David Gillespie as
chairman and chief executive.
    Board member Anthony Regensburg will will become acting
chief executive and Daniel Gillespie will continue as president
and chief operating officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14808" NEWID="9287">
<DATE>25-MAR-1987 09:42:27.21</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0928&#31;reute
r f BC-&lt;ACKERLY-COMMUNICATIO   03-25 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ACKERLY COMMUNICATIONS INC> YEAR LOSS</TITLE>
<DATELINE>    SEATTLE, March 25 -
    </DATELINE><BODY>Shr loss 1.44 dlrs vs loss 1.50 dlrs
    Net loss 10.1 mln vs loss 8,866,000
    Revs 122.3 mln vs 112.5 mln
    Avg shrs 7,671,855 vs 6,520,928
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14809" NEWID="9288">
<DATE>25-MAR-1987 09:42:42.51</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0930&#31;reute
d f BC-UNITED-MEDICAL-&lt;UM>-T   03-25 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED MEDICAL &lt;UM> TO SELL UNIT</TITLE>
<DATELINE>    HADDONFIELD, N.J., March 25 - </DATELINE><BODY>United Medical Corp said it
has reached a definitive agreement to sell its hospital
distribution unit to &lt;Myriad Group Inc> for undisclosed terms,
with closing expected in the next several weeks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14810" NEWID="9289">
<DATE>25-MAR-1987 09:42:50.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0931&#31;reute
d f BC-REXNORD-&lt;REX>-TO-CUT   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>REXNORD &lt;REX> TO CUT STAFF TO 50 FROM 112</TITLE>
<DATELINE>     BROOKFIELD, WIS., March 25 - </DATELINE><BODY>Rexnord Inc said it will
reduce to 50 from 112 its corporate staff at its headquarters
here by the end of May, 1987.
    The staff reductions are part of the company's announced
restructuring program and planned acquisition by Banner
Industries Inc &lt;BNR>.
    Affected Rexnord employees will receive severance pay based
on length of service, job placement counseling, it said.
   Banner completed a tender offer for Rexnord common shares in
late February. The companies are expected to combine within
about two months, Rexnord said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14811" NEWID="9290">
<DATE>25-MAR-1987 09:43:33.15</DATE>
<TOPICS><D>livestock</D></TOPICS>
<PLACES><D>usa</D><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f0932&#31;reute
u f BC-CCC-ACCEPTS-BONUS-BID   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC ACCEPTS BONUS BID ON CATTLE FOR EGYPT - USDA</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Commodity Credit Corporation has
accepted a bid for an export bonus to cover the sale of 760
head of dairy cattle to Egypt, the U.S. Agriculture Department
said.
    The delivery period for the cattle is April, 1987-June,
1988, it said.
    The bonus of 1,870.00 dlrs per head was made to Esmah
Nevada Inc and will be paid in the form of commodities from the
CCC inventory.
    An additional 7,199 head of dairy cattle are still
available to Egypt under the Export Enhancement Program
initiative announced September 12, 1986, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14812" NEWID="9291">
<DATE>25-MAR-1987 09:45:46.93</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;f0935&#31;reute
r f BC-INTEL-&lt;INTC>-UNIT-SEL   03-25 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>INTEL &lt;INTC> UNIT SELLS NOTES AT 8.18 PCT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Intel Overseas Corp, a unit of Intel
Corp, is raising 110 mln dlrs through an offering of notes due
1997 yielding 8.18 pct, said lead manager Shearson Lehman
Brothers Inc.
    The notes have an 8-1/8 pct and were priced at 99.63 to
yield 93 basis points more than comparable Treasury securities.
    Non-callable for seven years, the issue is rated A-2 by
Moody's Investors Service Inc and A by Standard and Poor's
Corp. Salomon Brothers and L.F. Rothschild co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14813" NEWID="9292">
<DATE>25-MAR-1987 09:48:39.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0940&#31;reute
u f BC-SPAIN'S-SOCIALIST-TRA   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN'S SOCIALIST TRADE UNION PUSHES FOR WAGE HIKE</TITLE>
<DATELINE>    MADRID, March 25 - </DATELINE><BODY>Spain's General Union of Workers (UGT),
the trade union arm of the Socialist party, will keep pressing
for salary rises of seven pct despite government
recommendations for a five pct ceiling, a UGT spokesman said.
    Trade union sources said coal mines in Asturias remained
closed by protests against planned job cuts. A 24-hour stoppage
at the state railways RENFE, coinciding with strikes at two
airlines next Friday, was virtually certain to be confirmed.
They said construction workers would start a five-day strike
next week.
    Prime Minister Felipe Gonzalez last night sought support
for his call to limit wage rises in an effort to cut inflation
to five pct from 8.3 pct last year. He told a press conference
the Socialist government could not meet all demands and would
not yield to demagogy.
    Antonio Hernandez Mancha, leader of the main opposition
right-wing Popular Alliance (AP) party which tabled a motion of
no confidence against the government, said Gonzalez had run out
of imagination. But political sources said the government,
holding an absolute majority in parliament, is sure to survive
the no confidence debate opening tomorrow.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14814" NEWID="9293">
<DATE>25-MAR-1987 09:50:17.02</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>saudi-arabia</D></PLACES>
<PEOPLE><D>thatcher</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0945&#31;reute
u f BC-THATCHER-DEFENDS-UK-O   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>THATCHER DEFENDS UK OIL POLICY IN SAUDI INTERVIEW</TITLE>
<DATELINE>    JEDDAH, March 25 - </DATELINE><BODY>British Prime Minister Margaret Thatcher
denied in an interview published in Saudi Arabia today that her
government's oil policy contributed to weakness in world oil
prices.
    She said the government was determined not to intervene to
influence production decisions by oil companies operating in
the North Sea.
    "We believe these must be a matter for the commercial
judgment of the oil companies," she told the Arabic language
daily al-Sharq al-Awsat in an interview coinciding with a visit
to London by King Fahd of Saudi Arabia.
    Thatcher said this policy had not contributed to the fall
in oil prices as North Sea production was now about the same as
in 1984 when prices were close to 30 dlrs a barrel.
    British production was on a plateau and was unlikely to
increase in the future, she said.
    "We naturally share the concern of Saudi Arabia and other
OPEC members about the harmful effects of oil market volatility
for both producer and consumer countries," Thatcher said.
    "On our part, we are careful to avoid any actions which
might add to such volatility."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14815" NEWID="9294">
<DATE>25-MAR-1987 09:51:38.05</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0952&#31;reute
u f BC-MARCH-PRICES-FELL-IN   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>MARCH PRICES FELL IN GERMAN STATE ON YEAR-AGO</TITLE>
<DATELINE>    DUESSELDORF, March 25 - </DATELINE><BODY>The cost of living in North
Rhine-Westphalia, Germany's most populous state, fell 0.1 pct
in the month to mid-March to stand 0.5 pct lower than at the
same time a year earlier, the regional statistics office said.
    Prices had risen 0.3 pct in the month to mid-February but
had fallen 0.7 pct year-on-year.
    The regional figures are considered a good guide to
national inflation trends. The Federal Statistics Office is due
to publish provisional national figures for March by the end of
this month.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14816" NEWID="9295">
<DATE>25-MAR-1987 09:53:07.03</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0956&#31;reute
b f BC-BUNDESBANK-BUYS-DOLLA   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK BUYS DOLLARS IN FRANKFURT - DEALERS</TITLE>
<DATELINE>    FRANKFURT, March 25 - </DATELINE><BODY>The Bundesbank bought large amounts
of dollars for yen in an apparent attempt to hold the dollar
above 149 yen, dealers said.
    The dollar intervention was in concert with some other
central banks, they said.
    Dealers said the Bank of Japan and Bank of England
supported the dollar against the yen earlier today and that
these two banks and the U.S. Federal Reserve were also active
yesterday.
    The Bundesbank declined to comment on the dealers' remarks.
    Dealers said the intervention underlined the determination
of central banks to keep currencies within recent ranges
following last month's agreement in Paris by six leading
countries to foster currency stability.
    One dealer said he had been repeatedly in contact with the
Bundesbank during the morning to see if it wanted to buy
dollars after the Japanese and U.K. Central bank moves.
    He said the Bundesbank told him it was observing the
situation to see if it should intervene in consultation with
other central banks.
    Since the Paris agreement on February 22 the dollar had
until yesterday traded in a 1.8150-1.8700 mark range, and above
150 yen, with traders reluctant to push the dollar down to test
central banks' resolve to defend currency stability.
    But the test came this week with the dollar falling below
1.81 marks and 150 yen. Dealers said a reviving trade dispute
between Washington and Tokyo and growing sentiment that the
dollar would have to fall further to narrow the obstinate U.S.
Trade deficit were behind the weakness.
    This week's intervention showed central banks were prepared
to cooperate to defend the Paris pact, dealers said.
    Dealers said it was significant the West German and British
central banks were supporting the dollar against the yen.
    That showed the pact involved multilateral cooperation by
central banks to foster currency stability, they said.
    But it was unclear how such cooperation was being arranged
and how frequent consultations between central banks were.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14817" NEWID="9296">
<DATE>25-MAR-1987 09:53:14.83</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;f0957&#31;reute
r f BC-CROSSLAND-SAVINGS-&lt;CR   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>CROSSLAND SAVINGS &lt;CRLD>ACQUIRES WESTERN SAVINGS</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>CrossLand Savings FSB said it has
acquired Western Savings and Loand Co with the assistance of
the Federal Savings and Loan Insurance Corp.
    CrossLand said Salt Lake City based Western has been
combined with its two Florida-based thrift subsidiaries. The
parent company contributed 50 mln dlrs in cash to the resulting
1.7 billion dlr asset subsidiary which will operate under the
name CrossLand Savings FSB with headquarters in Salt Lake City.
    CrossLand said Western, with assets of 400 mln dlrs,
operated 13 branch offices in the states of California, Oregon,
Utah and Washington.
    To facilitate the acquisition, CrossLand said, Western was
converted from a mutual to a stock association in a voluntary
supervisory conversion. Crossland and the FSLIC executived an
assistance agreement indemnifying CrossLand from certain losses
that could occur in connection with Western's loan portfolio.
    The company said James J. Heagerty, chairman and chief
executive officer of CrossLand Savings FSLA in Bradenton, Fla.,
will serve in that capacity for the new subsidiary resulting
from the merger.
    Western's president, Christopher J. Sumner, will be
president of the combined unit, CrossLand said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14818" NEWID="9297">
<DATE>25-MAR-1987 09:53:22.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0958&#31;reute
r f BC-GENERAL-ELECTRIC-&lt;GE>   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL ELECTRIC &lt;GE> SELLS RIGHTS TO TECHNIQUE</TITLE>
<DATELINE>    TROY, N.Y., March 25 - </DATELINE><BODY>General Electric Co said &lt;BioReactor
Technology Inc> obtained its rights to an experimental
technique for analyzing blood samples to detect disease
antibodies.
    General Electric said BioReactor will attempt to develop
test market kits from the advances made by General Electric.
    General Electric said it granted the rights to BioReactor
because the innovation, first announced in 1972, did not fit
into the company's long-range product plans.
    In exchange for the patent, GE said it will receive an
unspecified interest in the company.
               
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14819" NEWID="9298">
<DATE>25-MAR-1987 09:53:42.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0959&#31;reute
u f BC-CPC-&lt;CPC>-EXPECTS-EUR   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CPC &lt;CPC> EXPECTS EUROPEAN SALE TO CUT DEBT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>CPC International Inc officials said
the sale of the company's European corn wet milling business
will remove about 700 mln dlrs of debt and liabilities from
CPC's balance sheet.
    They told analysts the deal, expected to close in
September, and cash flow from other operations will reduced
total debt by about one-third this year. At the end of 1986,
CPC's debt totaled about 1.5 billion dlrs.
    The officials also said the company has no current plans to
sell its U.S. or North American corn wet milling businesses.
    CPC's 1987 capital spending is budgeted at about 250 mln
dlrs, down from about 361 mln dlrs last year, the officials
told analysts.
    They said the planned sale of the European corn wet milling
business, which is subject to reaching a definitive agreement,
will not result in much of change in this year's spending
plans.
    CPC is continuing to reduce corporate overhead costs by
streamlining operations in Latin America, its technical
laboratory operations in the U.S., and by completing the start
up of a new plant in Argo, Ill., they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14820" NEWID="9299">
<DATE>25-MAR-1987 09:55:29.61</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0967&#31;reute
b f BC-BANK-OF-ENGLAND-DRAIN   03-25 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF ENGLAND DRAINS MONEY MARKET LIQUIDITY</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Bank of England said it drained
liquidity from the money market when it sold 167 mln stg of
treasury bills due March 27 at rates between 9-9/16 and 10 pct.
    Earlier, the bank estimated a surplus of around 250 mln stg
in the system today.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14821" NEWID="9300">
<DATE>25-MAR-1987 09:56:20.55</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;f0968&#31;reute
d f BC-H.K.-OFFICIAL-DEFENDS   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>H.K. OFFICIAL DEFENDS NON-PROSECUTION OF BOND</TITLE>
<DATELINE>    HONG KONG, March 25 - </DATELINE><BODY>Hong Kong's Attorney General Michael
Thomas said he decided not to prosecute Alan Bond, chairman of
&lt;Bond Corp International Ltd> (BCIL), for giving misleading
information about the firm because the case was weak.
    He told the Legislative Council there had been widespread
misunderstanding, speculation and unfair distortion of the
reasons for the decision.
    "Even if there is evidence that tends to prove the necessary
ingredients of an offence, a bare prima facie case is,
generally speaking, not enough to warrant a prosecution," added
Thomas.
    The Attorney General's office said last month it will not
prosecute Bond for his statements that the net asset value per
share of properties owned by BCIL should be 2.60 H.K. Dlrs
instead of 1.10 dlrs stated in the firm's prospectus.
    The decision followed a public apology by Bond that his
remarks were misleading about BCIL, owned 66.2 pct by the
Australia based Bond Corp (Holdings) Ltd &lt;BONA.S>.
    Thomas dismissed a suggestion that he had compromised not
to prosecute Bond if an apology was published but added: "its
publication ultimately was a factor I took into account when
subsequently I decided not to prosecute."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14822" NEWID="9301">
<DATE>25-MAR-1987 09:56:38.26</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0970&#31;reute
u f BC-VICORP-RESTAURANTS-IN   03-25 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>VICORP RESTAURANTS INC &lt;VRES> 1ST QTR FEB 15 NET</TITLE>
<DATELINE>    DENVER, March 25 -
    </DATELINE><BODY>Shr profit 1.17 dlrs vs loss 12 cts
    Net profit 11.3 mln vs loss 1,038,000
    Revs 104.6 mln vs 128.7 mln
    NOTE: Current year net includes gain 9,500,000 dlrs from
the sale of its specialty restaurants unit, charge 1,200,000
dlrs from addition to insurance reserves, 4,600,000 dlr tax
credit and 660,000 dlr charge from debt repayment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14823" NEWID="9302">
<DATE>25-MAR-1987 09:57:02.99</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0972&#31;reute
d f BC-COMMERZBANK-TO-ACQUIR   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMERZBANK TO ACQUIRE AND FLOAT LINOTYPE</TITLE>
<DATELINE>    FRANKFURT, March 25 - </DATELINE><BODY>Commerzbank AG &lt;CBKG.F> said it will
acquire &lt;Linotype GmbH>, Europe's largest manufacturer of
type-setting and printing communications technology from Allied
Signal Inc &lt;ALD.N> and float off the shares in the company.
    Commerzbank declined to say how much it had paid for
Linotype.
    Linotype's group turnover in 1986 rose 15 pct to more than
500 mln marks, the bank said. The group's net return on capital
was seven pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14824" NEWID="9303">
<DATE>25-MAR-1987 09:57:29.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0973&#31;reute
r f BC-VICORP-&lt;VRES>-ENDS-SA   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>VICORP &lt;VRES> ENDS SALE/LEASEBACK DEAL</TITLE>
<DATELINE>    DENVER, March 25 - </DATELINE><BODY>VICORP Restaurants Inc said by mutual
agreement with United Trust Fund it has terminated the sale and
leaseback of 29 Bakers Square restaurant properties.
    The company completed a sale/leaseback of 31 Baker Street's
with United Trust in December, raising 26.5 mln dlrs. VICORP
said it does not feel it necessary to proceed with the
remainder of the sale/leasebacks due to improvement in its
financial condition.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14825" NEWID="9304">
<DATE>25-MAR-1987 09:57:55.13</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0975&#31;reute
b f BC-EC-EXPORT-LICENCES-FO   03-25 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EC EXPORT LICENCES FOR 59,000 TONNES WHITE  SUGAR AT REBATE 45.678 ECUS - FRENCH TRADERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14826" NEWID="9305">
<DATE>25-MAR-1987 09:58:02.47</DATE>
<TOPICS><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 T
&#22;&#22;&#1;f0976&#31;reute
b f BC-U.K.-INTERVENTION-BOA   03-25 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>A total 59,000 tonnes of current series
white sugar received export rebates of a maximum 45.678
European Currency Units (Ecus) per 100 kilos at today's
European Community (EC) tender, the U.K. Intervention Board
said.
    Out of this, traders in West Germany received 34,750
tonnes, in the U.K. 13,000, in Denmark 7,250 and in France
4,000 tonnes, it added.
    Earlier today, London traders had expected the subsidy for
the current season whites campaign for licences to end-Aug to
be more than 45.00 Ecus per 100 kilos but Paris traders were
more precise by forecasting a rebate level of 45.75 to 46.0
Ecus.
    London traders were also reluctant earlier to predict the
likely tonnage to be authorised for export in view of the
on-going dispute between the Commission and European producers
over the threatened action by the producers to move over
800,000 tonnes to intervention.
    Last week saw 60,500 tonnes whites athuorised for export at
a maximum rebate of 44.819 Ecus per 100 kilos.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14827" NEWID="9306">
<DATE>25-MAR-1987 10:00:47.50</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0981&#31;reute
s f BC-PIONEER-STANDARD-ELEC   03-25 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>PIONEER-STANDARD ELECTRONICS INC &lt;PIOS> PAYOUT</TITLE>
<DATELINE>    CLEVELAND, March 25 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay May One
    Record April Eight
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14828" NEWID="9307">
<DATE>25-MAR-1987 10:04:05.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>ase</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0994&#31;reute
u f BC-AMSTERDAM-EXCHANGE-AN   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>AMSTERDAM EXCHANGE ANNOUNCES MODERNISATION DRIVE</TITLE>
<DATELINE>    AMSTERDAM, March 25 - </DATELINE><BODY>The Amsterdam Stock Exchange, engaged
in a reform program to boost competitiveness, said it is
launching a modernisation drive of its operational systems.
    The move, announced one day after news of a first step
toward integration of financial market supervision in the
Netherlands, will involve new transaction and clearing and
settlement systems.
    In addition, the bourse's Amsterdam Interprofessional
Market (AIM) information system will be updated in short term
with software provided by the Chicago Midwest Stock Exchange.
    The Amsterdam bourse is also studying the possible
acquisition of Midwest Exchange software for a new
order-routing system, a statement said, noting the market here
remains firmly committed to the preservation of a trading
floor.
    "The Bourse management feels that, despite the discussions
triggered by the intended closure of the trading floor in
London, preparations for an overhaul of the trading floor in
Amsterdam have to continue," the statement said.
    The operational modernisation of the Amsterdam Stock
Exchange follows several liberalisation measures aimed at
stemming the flow of business to markets abroad.
    The liberalisation, particularly the introduction of
off-floor trading in stocks and bonds on a net-basis under the
AIM system, has been described by bourse officials as
Amsterdam's "little bang," a reference to sweeping reforms last
October on the London Stock Exchange known as Big Bang.
    AIM, started in a trial run early last year and officially
in force from January 1 this year, is already credited with
halting the growth in Dutch stocks traded abroad, mainly
London.
    Amsterdam, which feels an on-floor facility with fees is
vital for smaller investors, said it needs to overhaul the
floor to accommodate new technology and new members.
    A new floor layout and order-routing system should be ready
sometime next year, the statement said.
    It said it was also planning a new on-screen Central
Securities information System with prices from international
exchanges, including the U.S. And Japan, stock information and
company news.
    Yesterday, the bourse announced it would start coordinating
this summer market supervision with the options and futures
trade in the Netherlands as a first step toward a unified
financial markets watchdog. In addition, the bourse, options
and gold futures price lists will be merged this April.
    Transactions in Amsterdam are still processed with a now
outdated punch card system while price information stemming
from the larger off-floor deals done through AIM are not yet
integrated in the bourse's big board.
    A bourse spokesman said the exchange hoped to launch its
screen information service by 1989, but added this service did
not have first priority.
    At present, bourse price information and company
information announced by the bourse are published by a printer
service while a select number of prices is available via
teletext.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14830" NEWID="9308">
<DATE>25-MAR-1987 10:04:32.09</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0996&#31;reute
f f BC-******HOUSE-WAYS-AND   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>HOUSE WAYS AND MEANS CMTE FINISHES WORK ON BILL TO TOUGHEN TRADE LAWS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14829" NEWID="9309">
<DATE>25-MAR-1987 10:06:50.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1005&#31;reute
r f BC-CHEROKEE-GROUP-&lt;CHKE>   03-25 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEROKEE GROUP &lt;CHKE> FILES TO OFFER SHARES</TITLE>
<DATELINE>    NORTH HOLLYWOOD, Calif., March 25 - </DATELINE><BODY>Cherokee Group said it
has filed for an offering of 2,500,000 common shares, including
700,000 to be sold by shareholders, through underwriters First
Boston Inc &lt;FBC> and American Express Co &lt;AXP> unit Shearson
Lehman Brothers Inc.
    It said it will use its proceeds to repay bank debt, for
capital spending and for general corporate purposes including
possible acquisitions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14831" NEWID="9310">
<DATE>25-MAR-1987 10:07:13.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1008&#31;reute
u f BC-SOUTH-AFRICA-PROBLEMS   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA PROBLEMS REMAIN DESPITE DEBT PACT</TITLE>
<AUTHOR>    By Robert Ricci, Reuters</AUTHOR>
<DATELINE>    JOHANNESBURG, March 25 - </DATELINE><BODY>South Africa's new foreign debt
agreement sparked a rally in local financial markets, but
bankers and economists said the pact only removes one source of
anxiety from a still depressed economy.
    "We have not gone from "no confidence" to "full confidence" yet,"
commented one banker, who saw the agreement as having marginal
influence on fundamental economic problems.
    Money market analysts cited the debt renegotiation as the
main impetus behind increases today in both the commercial and
financial rand.
    The commercial rand, used for current account transactions,
rose 0.5 cts to 49 U.S. Cts while the financial rand jumped
nearly two cts to 33 U.S. Cts.
    All equity and fixed investment flows of foreigners take
place through the financial rand, which is considered the main
barometer of South Africa's attractiveness to overseas
investors.
    Analysts predicted the debt arrangement plus further gains
in the gold price could push the commercial rand over 50 U.S.
Cts and the financial rand to 35 cents in the next few weeks.
    They said the financial rand in particular was being driven
by a tentative provision in the new debt agreement that could
favourably affect the currency.
    Foreign creditors may get permission to convert loan
balances and short-term claims into equity investments in South
Africa.
    Finance Minister Barend du Plessis said the Reserve Bank
was "investigating the implications of such conversions in light
of terms and restrictions of the financial rand system."
    Du Plessis in disclosing the new agreement last night said
the recent sharp rise in the financial rand was an example that
"some foreign investors are again taking a more realistic view
of South Africa."
    Terms of the debt agreement call for South Africa to repay
1.42 billion dlrs of 13 billion dlrs of frozen debt over the
next three years. The agreement extends a standstill
arrangement, expiring June 30, that has been in place since
August, 1985.
    Bankers said the repayment amounts essentially confirmed
their private estimates and could be comfortably met by the
monetary authorities.
    "They (creditors) asked for the maximum amount and we
offered the minimum," said one banking source, reacting to
reports from London that creditors were hoping for larger
repayments.
    Reserve Bank governor Gerhard de Kock said South Africa
should have "no difficulty whatsoever" with the terms.
    Economists said the debt agreement would have no
significant impact on economic problems continuing to face
South Africa including high rates of inflation and
unemployment, labour unrest and political uncertainty.
    Johannesburg Stock Exchange president Tony Norton, speaking
yesterday before the debt agreement, said the economy was "in
bad shape" and there was "an awful lot of talk but little action"
to cure serious problems.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14832" NEWID="9311">
<DATE>25-MAR-1987 10:07:19.43</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1009&#31;reute
r f BC-FABRI-CENTERS-&lt;FCA>-4   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>FABRI-CENTERS &lt;FCA> 4TH QTR ENDS JAN 31 NET</TITLE>
<DATELINE>    CLEVELAND, March 25 -
    </DATELINE><BODY>Shr 40 cts vs 41 cts
    Net 1,979,000 vs 2,101,000
    Revs 67.7 mln vs 63.6 mln
    12 mths
    Shr 36 cts vs 20 cts
    Net 1,798,000 vs 1,034,000
    Revs 239.4 mln vs 233.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14833" NEWID="9312">
<DATE>25-MAR-1987 10:07:29.90</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;f1011&#31;reute
d f BC-TSENG-LABORATORIES-IN   03-25 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>TSENG LABORATORIES INC &lt;TSNG> 4TH QTR NET</TITLE>
<DATELINE>    NEWTOWN, Pa., March 25 -
    </DATELINE><BODY>Shr profit one ct vs loss nil
    Net profit 200,052 vs loss 56,782
    Revs 2,394,198 vs 706,393
    Avg shrs 17.8 mln vs 19.8 mln
    Year
    Shr profit one ct vs profit one ct
    Net profit 258,125 vs profit 164,553
    Revs 4,225,731 vs 3,027,892
    Avg shrs 17.9 mln vs 19.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14834" NEWID="9313">
<DATE>25-MAR-1987 10:07:32.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1012&#31;reute
s f BC-PARK-ELECTROCHEMICAL   03-25 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>PARK ELECTROCHEMICAL CORP &lt;PKE> SETS PAYOUT</TITLE>
<DATELINE>    LAKE SUCCESS, N.Y., March 25 -
    </DATELINE><BODY>Qtly div three cts vs three cts prior
    Pay May 20
    Record April 20
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14835" NEWID="9314">
<DATE>25-MAR-1987 10:09:36.10</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1020&#31;reute
u f BC-BRAZIL-SEAMEN-SAY-STR   03-25 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL SEAMEN SAY STRIKE NEAR END</TITLE>
<DATELINE>    SAO PAULO, March 25 - </DATELINE><BODY>About half of Brazil's 40,000 seamen
have returned to work after accords with 22 companies, and the
national strike which began on February 27 looks close to
ending, a union spokesman said.
    The spokesman, speaking from strike headquarters in Rio de
Janeiro, estimated that 80 ships were strike-bound.
    The seamen have settled for 120 pct pay increases with the
individual companies but are still discussing the issue of
overtime payments with the shipowners' association, Syndarma.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14836" NEWID="9315">
<DATE>25-MAR-1987 10:11:13.53</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1029&#31;reute
b f BC-/KEY-U.S.-HOUSE-PANEL   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>KEY U.S. HOUSE PANEL FINISHES MAJOR TRADE BILL</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The House Ways and Means Committee
completed action on legislation to toughen U.S. trade laws,
chairman Dan Rostenkowski said.
    The committee's consideration of one of the most
controversial provisions, a plan to force major trade surplus
countries to cut their trade imbalance with the United States,
was deferred until the full House considers the trade bill, its
sponsor Rep. Richard Gephardt said.
    Gephardt, a Missouri Democrat, told Reuters he was not
certain the exact form his trade surplus reduction proposal
would take. Last year the House approved his plan to force a 10
pct surplus cutback each year for four years, by countries such
as Japan.
    The Ways and Means Committess' trade bill forces President
Reagan to retaliate against unfair trade practices that violate
international trade agreements but it allows him to wave
retaliatory tariffs or quotas if the action would hurt the U.S.
economy.
    The trade bill gives U.S. Trade Representative Clayton
Yeutter more authority in trade negotiations and in decisions
to grant domestic industries import relief.
    It also gives him authority to decide whether foreign trade
practices are unfair and violate U.S. trading rights. These
powers are currently held by President Reagan.
    The administration has strongly objected to this transfer
of authority from Reagan to Yeutter.
    The bill also extends U.S. authority to negotiate
multilateral trade agreements. The bill will be wrapped into
other trade legislation and voted on in the House in April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14837" NEWID="9316">
<DATE>25-MAR-1987 10:12:00.13</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;f1034&#31;reute
r f BC-RUSS-TOGS-INC-&lt;RTS>-4   03-25 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>RUSS TOGS INC &lt;RTS> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Shr 82 cts vs 76 cts
    Net 4,200,000 vs 3,954,000
    Sales 58.7 mln vs 60.6 mln
    Year
    Oper shr 2.68 dlrs vs 2.47 dlrs
    Oper net 13.8 mln vs 13.0 mln
    Sales 274.3 mln vs 276.8 mln
    NOTE: Prior year net excludes loss 1,120,000 dlrs from
discontinued operations and loss on disposal of 922,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14838" NEWID="9317">
<DATE>25-MAR-1987 10:12:04.85</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1035&#31;reute
r f BC-JOHNSTOWN-AMERICAN-CO   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>JOHNSTOWN AMERICAN COS &lt;JAC> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    ATLANTA, MArch 25 -
    </DATELINE><BODY>Shr six cts vs five cts
    Shr diluted four cts vs four cts
    Net 654,000 vs 532,000
    Revs 32.5 mln vs 35.2 mln
    1st half
    Shr 11 cts vs nine cts
    Shr diluted eight cts vs six cts
    Net 1,181,000 vs 953,000
    Revs 62.7 mln vs 74.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14839" NEWID="9318">
<DATE>25-MAR-1987 10:20:28.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1065&#31;reute
r f BC-EASCO-OFFERS-INITIAL   03-25 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>EASCO OFFERS INITIAL SALE OF SECURITIES</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Easco Hand Tools Inc of Hunt Valley,
Md., filed with the Securities and Exchange Commission for the
sale of 67,275,000 dlrs in common stock, its first public stock
offering.
    It said proceeds would be used to reduce indebtedness.
    PaineWebber Inc was named underwriter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14840" NEWID="9319">
<DATE>25-MAR-1987 10:21:29.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1069&#31;reute
b f BC-KEIHIN-ELECTRIC-EXPRE   03-25 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>KEIHIN ELECTRIC EXPRESS ISSUES 150 MLN DLR BOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Keihin Electric Express Railway Co Ltd
is issuing a 150 mln dlr eurobond with equity warrants due
April 22, 1992 with an indicated coupon of 2-3/8 pct and priced
at par, lead manager Yamaichi International (Europe) Ltd said.
    The non-callable bonds are guaranteed by Fuji Bank Ltd.
    Pricing will take place on April 1 and the exercise period
is between May 18, 1987 and April 15, 1992. The indicated
premium is 2-1/2 pct.
    Total fees of 2-1/4 pct comprise 1-1/2 pct for selling and
3/4 pct for management and underwriting. The bonds will be
issued in 5,000 dlr denominations and listed in Luxembourg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14841" NEWID="9320">
<DATE>25-MAR-1987 10:21:58.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1073&#31;reute
u f BC-BRISTOL-AND-WEST-BUIL   03-25 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>BRISTOL AND WEST BUILDING SOCIETY ISSUES CDS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Bristol and West Building Society is
issuing a 250 mln dlr multi-currency certificate of deposit
facility, said Kleinwort, Benson Ltd, one of the appointed
dealers.
 The other dealers will be Samuel Montagu and Co Ltd and Morgan
Guaranty Ltd.
    The maturities range from 28 to 364 days and denominations
will be 500,000 and one mln dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14842" NEWID="9321">
<DATE>25-MAR-1987 10:22:22.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1075&#31;reute
u f BC-WOOLWICH-BUILDING-SOC   03-25 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>WOOLWICH BUILDING SOCIETY ISSUING 50 MLN STG BOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Woolwich and Equitable Building
Society is issuing a 50 mln stg eurobond due April 27, 1992
paying 9-1/2 pct and priced at 101-5/8 pct, lead manager Chase
Investment Bank Ltd said.
    The non-callable issue is available in denominations of
5,000 stg and will be listed in London.
    Fees comprise 1-1/4 pct selling concession with 5/8 pct
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14843" NEWID="9322">
<DATE>25-MAR-1987 10:22:28.52</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;f1076&#31;reute
r f BC-ITT-&lt;ITT>--UNIT-FILES   03-25 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>ITT &lt;ITT>  UNIT FILES FOR PREFERRED STOCK SALE</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Hartford Fire Insurance Co, a
unit of ITT Corp, filed with the Securities and Exchange
Commission for the shelf sale of 210 mln dlrs in class c and d
preferred stock.
    It said proceeds would be used to redeem class a stock.
    The First Boston Corp and Merrill Lynch Capital Markets
were named underwriters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14844" NEWID="9323">
<DATE>25-MAR-1987 10:23:24.61</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f1079&#31;reute
d f BC-CPC-EXPECTS-EUROPEAN   03-25 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>CPC EXPECTS EUROPEAN SALE TO CUT DEBT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>CPC International Inc officials said
the sale of the company's European corn wet milling business
will remove about 700 mln dlrs of debt and liabilities from
CPC's balance sheet.
    They told analysts the deal, expected to close in
September, and cash flow from other operations will reduce
total debt by about one-third this year. At the end of 1986,
CPC's debt totaled about 1.5 billion dlrs.
    The officials also said the company has no current plans to
sell its U.S. or North American corn wet milling businesses.
    CPC's 1987 capital spending is budgeted at about 250 mln
dlrs, down from about 361 mln dlrs last year, the officials
told analysts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14845" NEWID="9324">
<DATE>25-MAR-1987 10:24:15.81</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;f1081&#31;reute
r f BC-THERMO-PROCESS-&lt;TPSI>   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>THERMO PROCESS &lt;TPSI> ACQUISITION TERMINATED</TITLE>
<DATELINE>    WALTHAM, Mass., March 25 - </DATELINE><BODY>Thermo Process Systems Inc said
its proposed acquisition of the Surface Combustion Division of
privately-held &lt;Midland-Ross Corp> has been terminated because
mutually satisfactory terms could not be established.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14846" NEWID="9325">
<DATE>25-MAR-1987 10:25:32.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1085&#31;reute
u f BC-CHRYSLER-FINANCE-ISSU   03-25 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER FINANCE ISSUING STERLING EUROBOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Chrysler Financial Corp is issuing a 50
mln stg eurobond due April 30, 1992 paying 9-1/2 pct and priced
at 101-1/8 pct, lead manager Union Bank Of Switzerland
Securities said.
    The bond is available in denominations of 1,000 and 10,000
stg and will be listed in Luxembourg.
    Fees comprise 1-1/4 pct selling concession and 5/8 pct for
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14847" NEWID="9326">
<DATE>25-MAR-1987 10:26:54.25</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1090&#31;reute
u f BC-NORANDA-RAISES-PRIMAR   03-25 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>NORANDA RAISES PRIMARY ALUMINUM PRICES</TITLE>
<DATELINE>    New York, March 25 - </DATELINE><BODY>Noranda Aluminum Inc. said it has
increased its primary aluminum prices by two cents a lb,
effective with new orders as of March 25 and all shipments
beginning May 1.
    The new price for unalloyed ingot will be 64.5 cents a lb
while the new price for extrusion billet will be 72.5 cents a
lb.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14848" NEWID="9327">
<DATE>25-MAR-1987 10:33:21.91</DATE>
<TOPICS><D>tea</D><D>orange</D></TOPICS>
<PLACES><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1112&#31;reute
b f BC-SOVIET-PAPER-DETAILS   03-25 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET PAPER DETAILS GEORGIAN FLOOD DAMAGE</TITLE>
<DATELINE>    MOSCOW, March 25 - </DATELINE><BODY>Floods and avalanches killed 110 people
and caused around 350 mln roubles worth of damage in the
southern Soviet republic of Georgia earlier this year, the
government daily Izvestia said.
    Some 80,000 hectares of agricultural land and gardens had
been inundated, damaging tea plantations and orange groves, the
newspaper said. It added that spring sowing in southern parts
of the country was some two weeks behind schedule because of
the late thaw but gave no precise crop estimates.
    In the most detailed report to date on the heavy snows in
January and floods in February, Izvestia said 8,200 people had
been evacuated from mountain areas, 4,500 houses had been
damaged and hundreds of kilometres of roads and power lines had
been destroyed.
    A separate article in the daily warned that a sudden thaw
was expected shortly in the Ukraine and southern parts of
Russia, which experienced record snows this winter.
    Preventive measures have already been taken in some areas
including the evacuation of cattle.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14849" NEWID="9328">
<DATE>25-MAR-1987 10:35:21.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1124&#31;reute
u f BC-UTILICORP-&lt;UCU>-SEES   03-25 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>UTILICORP &lt;UCU> SEES HIGHER 1987 FIRST QUARTER</TITLE>
<DATELINE>    SAN FRANCISCO, CALIF., March 25 - </DATELINE><BODY>Utilicorp United Corp
said it expects to report 1987 first quarter earnings of about
12 mln dlrs or about 1.12 dlrs a share and revenues of about
190 mln dlrs.
    In the comparable quarter a year ago, Utilicorp earned 8.5
mln dlrs or 87 cts on revenues of 203 mln dlrs.
    There are 9.6 mln shares outstanding this year, up from the
8.5 mln shares in 1986, Utilicorp's president Richard Green
told financial analysts here.
    First quarter 1987 results include one month contribution
of West Virginia Power, which became a division on March 1,
1987, Green said in remarks prepared for delivery to analysts.
    Higher earnings for the period reflected reduced operating
and maintenenace expenses and about 10 mln dlrs in rate
increases in Iowa, Minnesota, Kansas and Colorado, he said.
    However, Utilicorp's Missouri Public Service division is
experiencing the effect of a 5.9 pct rate reduction authorized
in September 1986, he noted.
    Of Utilicorp's total revenues expected for the 1987 first
quarter, about 43 mln dlrs will be derived from electric
operations and about 147 mln dlrs will come from gas
operations, he said.
    Operating income derived from electric operations in the
first three months of 1987 is estimated to be eight mln dlrs,
while the contribution from gas operations will be about 10 mln
dlrs, Green said.
    Green told analysts that Utilicorp received regulatory
approval from various states and the Federal Energy Regulatory
Commission to reincorporate in Delaware, effective April one.
    Utilicorp signed an agreement with Cominco Ltd of Vancouver
to extend the deadline to May 31, 1987, for completion of the
company's purchase of West Kootenay Power and Light of British
Columbia, due to a longer than expected regulatory approval
process, he said.
    Hearings were completed in February and a decision by the
British Columbia Utilities Commission on the 60 mln dlrs
purchase by Utilicorp is pending, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14850" NEWID="9329">
<DATE>25-MAR-1987 10:35:46.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1127&#31;reute
r f BC-&lt;XYLOGICS-INC>-INITIA   03-25 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;XYLOGICS INC> INITIAL OFFERING UNDERWAY</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Lead underwriters Salomon Inc &lt;SB> and
Cowen anbd Co said an initial public offering of 1,089,300
shares of Xylogics Inc is underway at 16 dlrs per share.
    The company is selling 750,000 shares and shareholders the
rest.  The company has granted underwriters an overallotment
option to buy up to 150,000 more shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14851" NEWID="9330">
<DATE>25-MAR-1987 10:35:57.67</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1128&#31;reute
r f BC-TSENG-&lt;TSNG>-SEES-SAL   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>TSENG &lt;TSNG> SEES SALES INCREASE FIRST QTR 1987</TITLE>
<DATELINE>    NEWTON, Pa., March 25 - </DATELINE><BODY>Tseng Laboratories Inc said it
expects first quarter 1987 sales to exceed total sales for the
entire 1986 year, and said it expects earnings for the quarter
to grow at a faster rate than sales.
    Tseng posted total revenues for 1986 of 4,255,731, and net
income of 258,125, or 14 cts per share.
    Jack Tseng, president of the company, attributed the high
expectations to increased orders from major costomers, as well
as accelerated business from its growing reseller network.
    Tseng posted first quarter 1986 sales of 549,950, and net
income of 19,163, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14852" NEWID="9331">
<DATE>25-MAR-1987 10:37:00.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1136&#31;reute
d f BC-MINNTECH-&lt;MNTX>-GETS   03-25 0135</UNKNOWN>
<TEXT>&#2;
<TITLE>MINNTECH &lt;MNTX> GETS MORE CASH FOR DEVELOPMENT</TITLE>
<DATELINE>    MINNEAPOLIS, Minn., March 25 - </DATELINE><BODY>Minntech Corp, a medical
device manufacturer, said it has received an additional 175,000
dlrs from C.R. Bard &lt;BCR> to develop and market an advanced
membrane oxygenator for use in open heart surgery.
    Minntech said Bard paid it the money on top of the 825,000
dlrs in non-refundable contract revenues Bard already paid as
part of a development agreement. The company said it received
the money after it delivered oxygenator units for animal
testing to the Utah Biological Testing Laboratories.
    Minntech also said it will receive additional milestone
payments as the project development progresses, adding that
Bard has agreed to buy some oxygenators following project
completion and Food and Drug Administration approval.
    Minntech President Louis Cosentino said the animal testing
was successful and the company can now file for FDA approval
and equip its oxygenator manufacturing facility.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14853" NEWID="9332">
<DATE>25-MAR-1987 10:37:20.33</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;f1139&#31;reute
d f BC-STOCKHOLDER-SYSTEMS-&lt;   03-25 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>STOCKHOLDER SYSTEMS &lt;SSIAA> MAKES ACQUISITION</TITLE>
<DATELINE>    ATLANTA, March 25 - </DATELINE><BODY>Stockholder Systems Inc said it has
agreed in principle to acquire privately-held Software Concepts
Inc, which provides software for check processing, mortgage
application processing and safe deposit box accounting, for
undisclosed terms.
    Software Concepts had revenues of about 3,200,000 dlrs for
the year ended June 30.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14854" NEWID="9333">
<DATE>25-MAR-1987 10:37:26.29</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;f1140&#31;reute
d f BC-CONCEPT-INC-&lt;CCPT>-2N   03-25 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>CONCEPT INC &lt;CCPT> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    CLEARWATER, Fla., March 25 -
    </DATELINE><BODY>Shr 11 cts vs five cts
    Net 656,000 vs 314,000
    Sales 8,868,000 vs 6,499,000
    Avg shrs 5,823,000 vs 5,705,000
    1st half
    Shr 22 cts vs 13 cts
    Net 1,296,000 vs 795,000
    Sales 17.3 mln vs 13.5 mln
    Avg shrs 5,809,000 vs 5,973,000
    NOTE: Share adjusted for five-for-four split in February
1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14855" NEWID="9334">
<DATE>25-MAR-1987 10:37:49.76</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1143&#31;reute
d f BC-LIFE-OF-INDIANA-CORP   03-25 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>LIFE OF INDIANA CORP &lt;LIFI> 4TH QTR LOSS</TITLE>
<DATELINE>    INDIANAPOLIS, March 25 -
    </DATELINE><BODY>Shr loss two cts vs profit six cts
    Net loss 103,000 vs profit 319,000
    Revs 4,357,000 vs 6,494,000
    Avg shrs 5,415,185 vs 5,646,185
    Year
    Shr profit 22 cts vs profit 10 cts
    Net profit 1,236,000 vs profit 570,000
    Revs 22.2 mln vs 24.8 mln
    Avg shrs 5,638,596 vs 5,646,185
    NOTE: 1986 net includes tax credits of 30,400 dlrs in
quartger and 58,000 dlrs in year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14856" NEWID="9335">
<DATE>25-MAR-1987 10:38:10.89</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1147&#31;reute
s f BC-B.F.-SAUL-REAL-ESTATE   03-25 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>B.F. SAUL REAL ESTATE INVESTMENT &lt;BFS> PAYOUT</TITLE>
<DATELINE>    CHEVY CHASE, Md., March 25 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay April 30
    Record April 10
    NOTE: B.F. Saul Real Estate Investment Trust.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14857" NEWID="9336">
<DATE>25-MAR-1987 10:38:29.21</DATE>
<TOPICS><D>rand</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE><D>du-plessis</D><D>de-kock</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1148&#31;reute
d f BC-SOUTH-AFRICA-PROBLEMS   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICA PROBLEMS REMAIN DESPITE DEBT PACT</TITLE>
<AUTHOR>    By Robert Ricci, Reuters</AUTHOR>
<DATELINE>    JOHANNESBURG, March 25 - </DATELINE><BODY>South Africa's new foreign debt
agreement sparked a rally in local financial markets, but
bankers and economists said the pact removes only one source of
anxiety from a still depressed economy.
    "We have not gone from 'no confidence' to 'full confidence'
yet," commented one banker, who saw the agreement as having
marginal influence on fundamental economic problems.
    Money market analysts cited the debt renegotiation as the
main impetus behind increases today in both the commercial and
financial rand.
    The commercial rand, used for current account transactions,
rose 0.5 cts to 49 U.S. Cts while the financial rand jumped
nearly two cts to 33 U.S. Cts.
    All equity and fixed investment flows of foreigners take
place through the financial rand, which is considered the main
barometer of South Africa's attractiveness to overseas
investors.
    Analysts predicted the debt arrangement plus further gains
in the gold price could push the commercial rand over 50 U.S.
Cts and the financial rand to 35 cents in the next few weeks.
    They said the financial rand in particular was being driven
by a tentative provision in the new debt agreement that could
favorably affect the currency.
    Foreign creditors may get permission to convert loan
balances and short-term claims into equity investments in South
Africa.
    Finance Minister Barend du Plessis said the Reserve Bank
was "investigating the implications of such conversions in light
of terms and restrictions of the financial rand system."
    Du Plessis in disclosing the new agreement last night said
the recent sharp rise in the financial rand was an example that
"some foreign investors are again taking a more realistic view
of South Africa."
    Terms of the debt agreement call for South Africa to repay
1.42 billion dlrs of 13 billion dlrs of frozen debt over the
next three years. The agreement extends a standstill
arrangement, expiring June 30, that has been in place since
August, 1985.
    Bankers said the repayment amounts essentially confirmed
their private estimates and could be comfortably met by the
monetary authorities.
    "They (creditors) asked for the maximum amount and we
offered the minimum," said one banking source, reacting to
reports from London that creditors were hoping for larger
repayments.
    Reserve Bank governor Gerhard de Kock said South Africa
should have "no difficulty whatsoever" with the terms.
    Economists said the debt agreement would have no
significant impact on economic problems continuing to face
South Africa including high rates of inflation and
unemployment, labour unrest and political uncertainty.
    Johannesburg Stock Exchange president Tony Norton, speaking
yesterday before the debt agreement, said the economy was "in
bad shape" and there was "an awful lot of talk but little action"
to cure serious problems.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14858" NEWID="9337">
<DATE>25-MAR-1987 10:40:36.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1156&#31;reute
r f BC-MAYTAG-&lt;MYG>-SEES-CAP   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>MAYTAG &lt;MYG> SEES CAPITAL SPENDING UP IN 1987</TITLE>
<DATELINE>    NEWTON, Iowa, March 25 - </DATELINE><BODY>Maytag Co said it expects capital
spending in 1987 to increase to about 60 mln dlrs from 49 mln
dlrs in 1986.
    Maytag chairman and chief executive officer Daniel Krumm
said the company plans a "significant" investment at its
Admiral refrigerator plant in Galesburg, Ill., as well as
continued spending for product improvement and increased
efficiency at other Maytag facilities.
    Earlier, the company reported 1986 net income of 111.2 mln
dlrs, or 2.57 per share, versus net income of 124.9 mln dlrs,
or 2.89 dlrs a share, in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14859" NEWID="9338">
<DATE>25-MAR-1987 10:40:57.98</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;f1159&#31;reute
r f BC-TRAVELERS-&lt;TIC>-UNIT   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TRAVELERS &lt;TIC> UNIT TO BUY REALTY DIVISIONS</TITLE>
<DATELINE>    CHERRY HILL, March 25 - </DATELINE><BODY>The Travelers Corp's Travelers
Mortgage Services said it signed a letter of intent to buy two
subsidiaries of the privately-held &lt;Equitable Life Assurance
Society of the U.S.>
    The company said it plans to acquire the Equitable
Relocation Management Corp and the Equitable Realty Network
Inc.
    The company said the acquisitions will give it broader
distribution of its corporate relocation service and mortgage
programs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14860" NEWID="9339">
<DATE>25-MAR-1987 10:41:04.20</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1160&#31;reute
d f BC-COMMUNICATIONS-AND-CA   03-25 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMUNICATIONS AND CABLE INC &lt;CCAB> 1ST QTR NET</TITLE>
<DATELINE>    WEST PALM BEACH, Fla., March 25 -
    </DATELINE><BODY>Oper shr seven cts vs loss nil
    Oper net 988,000 vs loss 52,000
    Revs 2,267,000 vs 791,000
    NOTE: Net excludes gains from discontinued operations of
65,000 dlrs vs 75,000 dlrs.
    Current year net includes gain 1,025,000 dlrs from sale of
cellular telephone investment.
    Prior year figures restated for discontinued operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14861" NEWID="9340">
<DATE>25-MAR-1987 10:41:53.91</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;f1162&#31;reute
r f BC-BEN-EQUITY-HOLDINGS-&lt;   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BEN EQUITY HOLDINGS &lt;BH> SUSPENDED ON NYSE</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>The New York Stock Exchange said
trading in the units of BenEquity Holdings, a California
Limited Partnership, was suspended before the opening and an
application will be made to the Securities and Exchange
Commission to delist the issue.
    The Exchange said it normally considers suspending and
removing from its list the securities of a company when fewer
than 600,000 units are held by the public.
    As a result of a tender offer by &lt;Renouf Corp
International>, which expired March 24, 1987, fewer than
600,000 units of BenEquity remained publicly held.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14862" NEWID="9341">
<DATE>25-MAR-1987 10:43:01.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1169&#31;reute
r f BC-ESCAGEN-CORP-&lt;ESN>-IN   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>ESCAGEN CORP &lt;ESN> INITIAL OFFERING STARTS</TITLE>
<DATELINE>    SAN CARLOS, Calif., March 25 - </DATELINE><BODY>Escagen Corp said an initial
offering of two mln common shares is underway at nine dlrs each
through underwriters led by &lt;Prudential-Bache Group Inc>.
    The company is purchasing the assets and business of
International Plant Research Institute and will apply plant
biotechnology to developing food products and planting
materials.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14863" NEWID="9342">
<DATE>25-MAR-1987 10:47:32.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1179&#31;reute
u f BC-BRISTOL-MYERS-&lt;BMY>-F   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BRISTOL-MYERS &lt;BMY> FILES AIDS VACCINE WITH FDA</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Bristol-Myers Co said it has filed an
investigational new drug application with the U.S. Food and
Drug Administration requesting the agency to allow it to begin
testing its AIDS vaccine in humans.
    The company said it filed the application on behalf of its
Oncogen subsidiary, which developed the vaccine. It did not
name the drug.
    Bristol-Myers, the third largest drug company in the U.S.,
said that "considerable work remains to be done before it is
determined whether a new drug application will be develpoed for
submission to FDA."
    An investigational new drug application is the first step
in testing an agent. After clinical studies establish the
safety and efficacy of an agent, a company then submits a new
drug application to the FDA. It may take three to five years
before a new drug application is submitted and another two to
three years before the FDA approves a drug for marketing.
    Earlier this month, Bristol-Myers said the vaccine produced
antibodies to the AIDS virus in mice and monkeys. The vaccine
uses a live smallpox vaccine to carry two protein on the AIDS
virus that may, in theory, prod the immune system to produce
neutralizaing antibodies against AIDS.
    The company is the second U.S. organization that has sought
premission for human testing of an AIDS vaccine. At team headed
by Allan Goldstein of George Washington University in
Washington was the first.
    Repligen Corp &lt;RGEN> has said it plans to seek regulatory
permission to test its AIDS vaccine by the beginning of the
summer. And Genentech Inc &lt;GENE> has also said it plans to ask
the FDA to approve human testing of its AIDS vaccine later this
year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14864" NEWID="9343">
<DATE>25-MAR-1987 10:47:45.04</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1181&#31;reute
r f BC-DALLAS-INVESTOR-CUTS   03-25 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>DALLAS INVESTOR CUTS STAKE IN MCDERMOTT (MDR)</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>A group led by Dallas investor
Harold Simmons told the Securities and Exchange Commission it
had reduced its stake in McDermott International Inc by one
pct, to under five pct.
    The group had said in a March 10 filing, announcing
acquisition of 5.4 pct of the firm's stock, that it might
consider seeking control of the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14865" NEWID="9344">
<DATE>25-MAR-1987 10:49:09.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1192&#31;reute
r f BC-FED-ADOPTS-REDEPOSIT   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>FED ADOPTS REDEPOSIT SERVICE FOR BOUNCED CHECKS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Federal Reserve Board
unanimously approved a proposal to allow Federal Reserve banks
to offer a redeposit service for bounced checks.
    The service would allow a commercial bank that sends checks
to a reserve bank for collection to instruct the reserve bank
to redeposit a bounced check rather than return it.
    The reserve banks would be required to charge a fee for the
redeposit service that would cover its costs.
    The plan would leave it to each reserve bank to set a
dollar cutoff for eligible returns.
    The Fed acted after industry studies showed that nearly
two-thirds of bounced checks cleared the second time around.
    The Fed said studies show that fewer than one pct of the
more than 40 billion checks written each year in the United
States are returned unpaid.
    Of those returned, about half are written for less than 100
dlrs.
    The Fed said many commercial banks already routinely
redeposit low-dlr-value checks returned to them for
insufficient funds.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14866" NEWID="9345">
<DATE>25-MAR-1987 10:51:19.33</DATE>
<TOPICS><D>platinum</D></TOPICS>
<PLACES><D>canada</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1198&#31;reute
r f BC-intn'l-platinum   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>INTN'L PLATINUM, DEGUSSA IN JOINT VENTURE TALKS</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>International Platinum Corp said it
signed a letter of intent to enter into further negotiations on
a joint venture exploration agreement with Degussa A.G., of
West Germany, regarding several North American platinum
properties.
    Conclusion of the agreement is subject to completion of
further detailed examination by Degussa, as well as board and
regulatory approvals.
    Under terms of the letter of intent, Degussa would
contribute substantially to a three year exploration budget of
4.5 mln dlrs in return for a 50 pct interest in the venture.
    Degussa's contribution to the exploration budget will be
based on it matching International Platinum's past exploration
and acquisition costs, estimated at about two mln dlrs, and
then contributing on a pro rata basis, International Platinum
said.
    Degussa's contribution would provide a major portion of
International Platinum's exploration budget, especially during
the first and second year of the proposed joint venture, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14867" NEWID="9346">
<DATE>25-MAR-1987 10:51:26.04</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;f1200&#31;reute
r f BC-WESTWOOD-ONE-INC-&lt;WON   03-25 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTWOOD ONE INC &lt;WONE> 1ST QWTR FEB 28 NET</TITLE>
<DATELINE>    LOS ANGELES, March 25 -
    </DATELINE><BODY>Shr 12 cts vs eight cts
    Net 1,440,000 vs 830,000
    Revs 15.9 mln vs 11.2 mln
    Avg shrs 12,342,000 vs 10,826,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14868" NEWID="9347">
<DATE>25-MAR-1987 10:53:11.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1207&#31;reute
b f BC-/REAGAN-OPPOSES-NEW-T   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN OPPOSES NEW TAXES, SEEKS BUDGET</TITLE>
<DATELINE>     WASHINGTON, March 25 - </DATELINE><BODY>President Reagan opposed new taxes
as he urged the Democratic controlled Congress to come up with
a budget that meets the Gramm-Rudman deficit target of 108
billion dlrs for fiscal 1988.
    He told reporters before meeting with House Republicans in
Congress that for six years he had proposed a "a sound, solid
budget" but alleged that Democrats had only come forth with a
so-called continuing resolution, a catch-all spending bill,
each year.
    Asked about taxes, he said "they're not going to get those
either."
    Reagan's appearance with Republicans coincided with a
dispute among House Budget Committee Democrats and Republicans.
Republicans have boycotted budget drafting sessions.
    "I'm still trying to get a budget that meets the
Gramm-Rudman target," Reagan said. "The Democrats have refused to
present a budget of their own."
    House Budget Committee Chairman William Gray told reporters
after Reagan's remarks that "They (Republicans) don't want to
participate. The President is up there bashing our brains while
Republicans won't give us a markup (drafting meeting). It's an
interesting combination."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14869" NEWID="9348">
<DATE>25-MAR-1987 10:55:08.47</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>iran</D><D>usa</D><D>iraq</D></PLACES>
<PEOPLE><D>mousavi</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1213&#31;reute
u f BC-IRAN-SAYS-HAS-MORE-EF   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN SAYS HAS BETTER WEAPONS THAN SILKWORM</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Iranian Prime Minister Mir-Hossein
Mousavi said Iran had "more effective" missiles at its disposal
than the shore-to-sea missiles which had provoked U.S. Concern,
Tehran Radio reported.
    A U.S. State Department spokesman said last week Iran had
acquired Chinese-made Silkworm missiles which posed a greater
threat to shipping in the Gulf than the weapons previously
used.
    Tehran Radio, monitored by the British Broadcasting Corp,
quoted Mousavi as saying that Tehran officially announced after
its forces overran southern Iraq's Faw peninsula in February
last year that it had shore-to-sea missiles.
    "The fact that the Americans, after so much delay, are now
thinking of expressing their concern with panic is because
Reagan needs this sensation now," said Mousavi, speaking after a
cabinet meeting in Tehran.
    "We also announce today that these missiles are not the
limit of our war capabilities in the Gulf," he added.
    Mousavi said the security of the Gulf region had nothing to
do with the U.S. But Iran would resort to any action to defend
the Gulf, "even those actions which are not thought probable by
Westerners."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14870" NEWID="9349">
<DATE>25-MAR-1987 10:56:01.72</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>belgium</D><D>west-germany</D><D>denmark</D><D>uk</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f1217&#31;reute
b f BC-EC-COMMISSION-DETAILS   03-25 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COMMISSION DETAILS SUGAR TENDER</TITLE>
<DATELINE>    BRUSSELS, March 25 - </DATELINE><BODY>The European Community Commission
confirmed it granted export licences for 59,000 tonnes of
current series white sugar at a maximum export rebate of 45.678
European Currency Units (ECUs) per 100 kilos.
    Out of this, traders in West Germany received 34,750
tonnes, in the U.K. 13,000, in Denmark 7,250 tonnes and in
France 4,000 tonnes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14871" NEWID="9350">
<DATE>25-MAR-1987 10:56:47.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1222&#31;reute
r f BC-INLAND-STEEL-&lt;IAD>-PR   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>INLAND STEEL &lt;IAD> PREFERRED OFFERED</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Lead underwriters &lt;Goldman, Sachs and
Co> and First Boston Inc &lt;FBC> said an offering of two mln
Series C 3.625 dlr cumulative convertible exchangeable
preferred shares of Inland Steel Industries Inc is underway at
50 dlrs per share.
    The preferred shares are convertible at any time into
common stock at 1.667 common shares per preferred share and are
exchangeable at the company's option on any dividend payment
date starting May 1, 1989 for 7.25 pct convertible subordinated
debentures due May 1, 2012.
    The underwriters said the preferred shares are not
redeemable before May 1, 1989 and thereafter are redeemable for
cash at the company's option at prices declining to par on May
1, 1997.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14872" NEWID="9351">
<DATE>25-MAR-1987 10:57:07.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1225&#31;reute
r f BC-ADVANCED-MICRO-&lt;AMD>   03-25 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>ADVANCED MICRO &lt;AMD> PREFERRED OFFERED</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Lead underwriters &lt;Donaldson, Lufkin
and Jenrette> and Salomon Inc &lt;SB> said an offering of three
mln shares of Advanced Micro Devices Inc depositary convertible
exchangeable preferred shares is under way at 50 dlrs per
share.
    Underwriters have been granted an option to buy another
450,000 depositary shares to cover overallotments.
    Each depositary share bears an annual dividend of three
dlrs per share and represents 0.1 30 dlr convertible
exchangeable preferred share.
    The underwriters said the preferred shares are convertible
into common stock at 25.16 dlrs per share initially and are
exchangeable at the company's option for six pct convertible
subordinated debentures due 2012.  The preferred shares are not
redeemable before March 15, 1990 unless the market price of the
common stock equals or exceeds 150 pct of the conversion price
for specified periods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14873" NEWID="9352">
<DATE>25-MAR-1987 10:57:32.16</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;f1229&#31;reute
d f BC-TRICENTROL-TO-CONCENT   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TRICENTROL TO CONCENTRATE ON PROVEN RESERVES</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Tricentrol Plc &lt;TCT.L> said it will
concentrate most of its efforts this year on its proven oil and
gas reserves in order to maximise benefits to shareholders in
the mid to long-term.
    It said in a statement "We are confident that substantial
development funds will be available to Tricentrol and that we
will be able to minimise further disposal of our interests."
    Tricentrol wrote off 57.5 mln stg on the reorganisation of
its North American operations last year, when oil prices
plunged. The group incurred a 1986 net loss of 3.7 mln stg
against a 25.4 mln profit the previous year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14874" NEWID="9353">
<DATE>25-MAR-1987 10:58:09.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1232&#31;reute
r f BC-ROLLS-ROYCE-SIGNS-NEW   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>ROLLS-ROYCE SIGNS NEW ENGINE DEAL WITH BOEING</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>&lt;Rolls-Royce Ltd> said it signed an
agreement with the Boeing Company &lt;BA.N> to install its RB
211-524 D4D engine on the B767 family of aircraft.
    The engine, currently under development, will be ready for
service by early 1990, the company said in a statement.
    Boeing 747s are also powered with the engine, and its use
in B767 craft too could bring significant operating benefits,
Rolls-Royce said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14875" NEWID="9354">
<DATE>25-MAR-1987 11:03:26.69</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;f1254&#31;reute
s f BC-BROOKLYN-UNION-GAS-CO   03-25 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>BROOKLYN UNION GAS CO &lt;BU> SETS PAYOUT</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Qtrly div 41.5 cts vs 41.5 cts prior
    Pay May One
    Record April 6
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14876" NEWID="9355">
<DATE>25-MAR-1987 11:06:42.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1270&#31;reute
r f BC-UNISYS-&lt;UIS>-INTRODUC   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>UNISYS &lt;UIS> INTRODUCES NEW PRODUCTS</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Unisys Corp introduced two new
mainframe computers, new workstations, and other products.
    The company said the V510 and V530 large-scale computers
offer up to a four-fold increase in performance over existing V
series.
    Customer deliveries of the new models, aimed at business,
government and financial markets, are planned for the fourth
quarter of 1987 and the first quarter of 1988.
    Base price of the V510 system is 950,000 dlrs and the V530
system is based priced at 1,775,000 dlrs, the company said.
    Speaking at a press conference, Joseph Kroger, Unisys vice
chairman, said the new product introductions are the first
concrete examples of the increased resources of the merged
Burroughs and Sperry.
    He said the company had exceeded its goal of cutting costs
by 150 mln dlrs in the first year after the merger, and reduced
debt by nearly two billion dlrs, more than the originally
expected 1.5 billion dlrs.
    In addition to the mainframes, Unisys introduced an
addition to its B25 family of desktop computer systems. The new
system, the B38, will make greater use of its Intel Corp &lt;INTC>
microprocessor using available software.
    The B38 is available for immediate delivery with a base
configuration price of 8,375 dlrs.
    The company also introduced new software products,
interconnect capabilities, and a laser printer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14877" NEWID="9356">
<DATE>25-MAR-1987 11:07:17.85</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1276&#31;reute
u f BC-ARGENTINE-PORT-WORKER   03-25 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINE PORT WORKERS TAKE INDUSTRIAL ACTION</TITLE>
<DATELINE>    BUENOS AIRES, March 25 - </DATELINE><BODY>Argentine port workers began an
indefinite protest against safety conditions at the port of
Buenos Aires, stopping work for one hour per shift, a press
spokesman said.
    He said three port workers had died over the last month in
accidents. He said the decision to take action was made after a
port worker died yesterday after being electrocuted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14878" NEWID="9357">
<DATE>25-MAR-1987 11:07:20.75</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;f1277&#31;reute
b f BC-novamin   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
***<TITLE>NOVAMIN SAYS IT RECEIVED PROPOSED TAKEOVER BID FROM BREAKWATER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14879" NEWID="9358">
<DATE>25-MAR-1987 11:07:27.66</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;f1278&#31;reute
d f BC-NYFE-SEAT-SELLS-FOR-2   03-25 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>NYFE SEAT SELLS FOR 200 DLRS</TITLE>
<DATELINE>    NEW YORK, MARCH 25 - </DATELINE><BODY>The New York Stock Exchange said a
seat on the New York Futures Exchange sold for 200 dlrs,
unchanged from the previous sale on Tuesday.
    The Exchange said the current bid is 100 dlrs and the offer
is 200 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14880" NEWID="9359">
<DATE>25-MAR-1987 11:08:25.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1283&#31;reute
u f BC-NEC-CORP-HAS-150-MLN   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>NEC CORP HAS 150 MLN DLR EURO-CP PROGRAM</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>NEC Corp is establishing a 150 mln dlr
euro-commercial paper program with a sterling option, Morgan
Guaranty Ltd said as arranger.
    Paper will be issued by NEC Industries Netherlands BV under
the guarantee of NEC Corp.
    Dealers will be Morgan Guaranty, Chase Investment Bank Ltd,
Shearson Lehman Brothers International and Swiss Bank Corp
International Ltd.  Issuing and paying agent will be Chase
Manhattan Bank NA, London.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14881" NEWID="9360">
<DATE>25-MAR-1987 11:08:58.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1285&#31;reute
u f BC-FRANCE-SETS-FOUR-BILL   03-25 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE SETS FOUR BILLION FRANC T-BILL TENDER</TITLE>
<DATELINE>    PARIS, March 25 - </DATELINE><BODY>The Bank of France said it will offer
four billion francs worth of negotiable Treasury bills at its
next weekly tender on March 30.
    The total includes 1.5 billion francs worth of 13-week
bills and 2.5 billion francs of 24-week bills.
    At this week's tender on Monday the Bank sold a total of
2.98 billion francs worth of 13-week bills, 3.19 billion francs
worth of five-year bills and 2.69 billion francs worth of
two-year bills.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14882" NEWID="9361">
<DATE>25-MAR-1987 11:14:10.28</DATE>
<TOPICS><D>interest</D><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;f1305&#31;reute
b f BC-/-FED-EXPECTED-TO-ADD   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>FED EXPECTED TO ADD RESERVES IN MARKET</TITLE>
<DATELINE>     NEW YORK, March 25 - </DATELINE><BODY>The Federal Reserve will probably
intervene in the government securities market to add reserves
today, economists said.
    They expected the Fed will supply temporary reserves
indirectly via 1.5 to two billion dlrs of customer repurchase
agreements.
    Fed funds hovered at a relatively high 6-1/4 pct this
morning after averaging 6.14 pct on Tuesday.
    Early this afternoon the Fed also is expected to supply
reserves permanently, effective Thursday, by offering to buy
all maturities of Treasury bills.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14883" NEWID="9362">
<DATE>25-MAR-1987 11:17:45.61</DATE>
<TOPICS><D>sugar</D><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1317&#31;reute
b f BC-INDIA-REPORTED-BUYING   03-25 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA REPORTED BUYING TWO WHITE SUGAR CARGOES</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>India is reported to have bought two
white sugar cargoes for April/May shipment at its tender today
near 227 dlrs a tonne cost and freight and could be seeking a
third cargo, traders said.
    A British operator is believed to have sold one of the
cargoes, while an Austrian concern is thought to have featured
in the second cargo sale, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14884" NEWID="9363">
<DATE>25-MAR-1987 11:19:15.95</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;f1320&#31;reute
u f BC-NOVAMIN-IN-PROPOSED-B   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>NOVAMIN IN PROPOSED BUYOUT BY BREAWATER &lt;BWRLF></TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>&lt;Novamin Inc> said it received a
proposed takeover offer from Breakwater Resources Ltd involving
a swap of one Breakwater share for two Novamin common shares.
    It said the proposal also called for conversion of
outstanding Novamin warrants into Breakwater common shares on
the same basis, provided the exercise price was paid by the
warrant holders.
    Novamin, a mineral exploration company, said directors
would meet next Tuesday to deal with the proposal, which, it
said, was subject to approval by Breakwater directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14885" NEWID="9364">
<DATE>25-MAR-1987 11:20:55.15</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;f1323&#31;reute
r f BC-LILLY-INDUSTRIAL-COAT   03-25 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>LILLY INDUSTRIAL COATINGS INC &lt;LICIA> 1ST QTR</TITLE>
<DATELINE>    INDIANAPOLIS, March 25 - </DATELINE><BODY>Feb 28 end
    Shr 18 cts vs 13 cts
    Net 1,541,000 vs 1,122,000
    Sales 36.7 mln vs 33.5 mln
    Avg shrs 8,517,000 vs 8,441,000
    NOTE: Share adjusted for five pct stock dividend in August
1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14886" NEWID="9365">
<DATE>25-MAR-1987 11:22:15.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1327&#31;reute
u f BC-COMMONWEALTY-REALTY-&lt;   03-25 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTY REALTY &lt;CRTYZ>, BAY &lt;BAY> END TALKS</TITLE>
<DATELINE>    PRINCETON, N.J., March 215 - </DATELINE><BODY>Commonwealth Realty Trust said
preliminary merger talks with Bay Financial Corp have been
terminated due to a failure to agree on terms.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14887" NEWID="9366">
<DATE>25-MAR-1987 11:22:26.37</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;f1329&#31;reute
r f BC-MET-PRO-CORP-&lt;MPR>-4T   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>MET-PRO CORP &lt;MPR> 4TH QTR ENDS JAN 31 NET</TITLE>
<DATELINE>    PHILADELPHIA, March 25 -
    </DATELINE><BODY>Shr 19 cts vs 18 cts
    Net 362,692 vs 347,868
    Revs 6,311,808 vs 5,827,538
    12 mths
    Shr 60 cts vs 80 cts
    Net 1,152,746 vs 1,534,503
    Revs 24.7 mln vs 25.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14888" NEWID="9367">
<DATE>25-MAR-1987 11:22:36.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1331&#31;reute
r f BC-EDO-&lt;EDO>-TO-BUY-BACK   03-25 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>EDO &lt;EDO> TO BUY BACK ADDITIONAL 500,000 SHARES</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>EDO Corp said its board approved the
repurchase of an additional 500,000 shares of its common on the
open market, or through privately negotiated transactions.
    EDO said the authorization is in addition to the 2,690,000
shares announced previously.
    Since 1983, Edo said it has purchased over 2.1 mln shares
of its common, leaving about 560,000 shares authorized for
purchase prior to today's action.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14889" NEWID="9368">
<DATE>25-MAR-1987 11:22:50.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1333&#31;reute
d f BC-VISTA-&lt;VISA>-FORMS-OF   03-25 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>VISTA &lt;VISA> FORMS OFFICE OF THE PRESIDENT</TITLE>
<DATELINE>    NEW YORK, March 24 - </DATELINE><BODY>Vista Organization Ltd said its board
has formed an office of the president.
    The company said the office includes Mark S. Germain, who
is primarily responsible for administration and corporate
policy, Herb Jaffe, who heads motion picture operations, and
Gabriel Katzka, who is in charge of television operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14890" NEWID="9369">
<DATE>25-MAR-1987 11:22:54.54</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1334&#31;reute
s f BC-CENTRAL-MAINE-POWER-C   03-25 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL MAINE POWER CO &lt;CTP> SETS QUARTERLY</TITLE>
<DATELINE>    AUGUSTA, Maine, March 25 -
    </DATELINE><BODY>Qtly div 35 cts vs 35 cts prior
    Pay April 30
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14891" NEWID="9370">
<DATE>25-MAR-1987 11:27:09.65</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;f1343&#31;reute
b f BC-SOME-FIRMS-CURB-COMMO   03-25 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>SOME FIRMS CURB COMMODITIES BUSINESS WITH DREXEL</TITLE>
<DATELINE>     NEW YORK, March 25 - </DATELINE><BODY>&lt;Drexel Burnham Lambert Inc> said
some Wall Street firms have limited their commodities trading
business with Drexel.
    Rumors circulated in financial and commodity markets
yesterday that units of &lt;Shearson Lehman Brothers Inc>, Salomon
Inc &lt;SB> and &lt;Goldman, Sachs and Co> had restricted commodities
business with Drexel because of its involvement in the
government's insider trading probe.
    In response to questions, a Drexel spokesman said, "Any
questions raised about our credit conditions are ridiculous as
those few competitors who have instituted restrictions for
whatever their motives well know."
    Securities industry sources said the three firms were
restricting their business with Drexel particularly in oil and
precious metals. The firms have restricted business in some
areas, but not others, the sources said.
    All three firms declined to comment, and the Drexel
spokesman did not identify the companies by name.
    Drexel and some officials, including Michael Milken, head
of its "junk bond" department, were subpoenaed following the
government's settlement of insider trading charges against
arbitrager Ivan Boesky.
    Securities industry sources said the three firms were
restricting their business with Drexel particularly in oil and
precious metals. The firms have restricted business in some
areas, but not others, the sources said.
    All three firms declined to comment, and the Drexel
spokesman did not identify the companies by name.
    Drexel and some officials, including Michael Milken, head
of its "junk bond" department, were subpoenaed following the
government's settlement of insider trading charges against
arbitrager Ivan Boesky.
    "Our commodity trading group, &lt;DBL Trading Corp>, is
operating normally and very profitably. It has had absolutely
no disruption in its trading and operation," a Drexel spokesman
said.
    He added, "the financial picture of the firm as a whole has
never been healthier. We have capital of 1.9 billion dlrs, the
fourth largest on Wall Street, equity of 1.3 billion dlrs, and
excess net capital of one billion dlrs."
    "People who invent and circulate rumors about any financial
institution, including Drexel Burnham, are doing a serious,
grave disservice to the investing public and marketplace," the
spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14892" NEWID="9371">
<DATE>25-MAR-1987 11:29:00.82</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;f1349&#31;reute
u f BC-PEP-BOYS-&lt;PBY>-SETS-S   03-25 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>PEP BOYS &lt;PBY> SETS SPLIT, RAISES QUARTERLY</TITLE>
<DATELINE>    PHILADELPHIA, March 25 - Pep Boys - </DATELINE><BODY>Manny, Moe and Jack Inc
said its board declared a three-for-one stock split and raised
the quarterly dividend to six cts presplit from 5-1/2 cts.
    Both are payable July 27 to holders of record July One and
the
    The split is subject to shareholder approval at the May 18
annual meeting of an increase in authorized common shares to
500 mln from 40 mln, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14893" NEWID="9372">
<DATE>25-MAR-1987 11:29:16.39</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1351&#31;reute
u f BC-PEP-BOYS---MANNY,-MOE   03-25 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>PEP BOYS - MANNY, MOE AND JACK INC &lt;PBY> 4TH QTR</TITLE>
<DATELINE>    PHILADELPHIA, March 25 - </DATELINE><BODY>Jan 31 end
    Shr 45 cts vs 37 cts
    Net 8,349,000 vs 6,187,000
    Sales 126.7 mln vs 103.7 mln
    Year
    Shr 1.55 dlrs vs 1.29 dlrs
    Net 28.1 mln vs 21.1 mln
    Sales 485.9 mln vs 388.9 mln
    NOTE: Latest year net includes three cts shr gain from sale
of assets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14894" NEWID="9373">
<DATE>25-MAR-1987 11:29:34.99</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;f1354&#31;reute
r f BC-HOVNANIAN-ENTERPRISES   03-25 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>HOVNANIAN ENTERPRISES &lt;HOV> EARNINGS TO RISE</TITLE>
<DATELINE>    PHOENIX, March 25 - </DATELINE><BODY>Hovnanian Enterprises Inc said the
company's earnings for year would exceed the 1.65 dlrs a share
previously announced and could go as high as 1.75 dlrs for
fiscal year ended  Feb 28, 1987.
    The company posted net earnings of 11.5 mln dlrs, or 1.72
dlrs per share, on revenues of 199.3 mln dlrs for fiscal year
1986. These figures reflect two three-for-two stock splits in
March and August 1986.
    At the Annual Drexel Burnham Lambert Construction
Conference here, Hovnanian executive vice presidnt Ara
Hovnanian said the company expects an earnings range of between
2.35 dlrs and 2.55 dlrs per share for fiscal 1988.
    Total revenues for the year ending Feb 29, 1988, should be
between 320 mln and 350 mln, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14895" NEWID="9374">
<DATE>25-MAR-1987 11:31:46.79</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>usa</D><D>turkey</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1362&#31;reute
b f BC-/NY-TRADERS-SAY-TURKE   03-25 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>NY TRADERS SAY TURKEY MADE LARGE SUGAR PURCHASE</TITLE>
<DATELINE>    ****NEW YORK, March 25 - </DATELINE><BODY>Turkey bought an estimated 100,000
tonnes of white sugar from three trade houses today for April
to June shipment, according to trade sources.
    They said a large U.K. trade house sold 50,000 tonnes, a
U.S. house traded 25,000 tonnes, and a Swiss-based dealer house
25,000 tonnes.
    Price details were unclear but reports this morning
suggested that Turkey was offered sugar at prices ranging down
to 212 dlrs a tonne, c and f basis.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14896" NEWID="9375">
<DATE>25-MAR-1987 11:32:14.96</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;f1366&#31;reute
r f BC-NORFOLK-&lt;NSC>-UNIT-SE   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>NORFOLK &lt;NSC> UNIT SELLS EQUIPMENT CERTIFICATES</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Southern Railway Co, a unit of Norfolk
Southern Corp, is raising 20.6 mln dlrs through an offering of
equipment trust certificates due 1988 to 2002, said lead
manager Morgan Stanley and Co Inc.
    Morgan headed a syndicate that won the certificates in
competitive bidding. It bid them at 98.252 and set a 7-1/4 pct
coupon and various reoffering prices for the maturities. Yields
range from 6.20 to 7-3/4 pct.
    Non-callable for life, the certificates are rated a
top-flight AAA by both Moody's and Standard and Poor's. Kidder
Peabody is co-managing the issue.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14897" NEWID="9376">
<DATE>25-MAR-1987 11:33:04.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1372&#31;reute
u f BC-ANHEUSER-BUSCH-&lt;BUD>   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>ANHEUSER-BUSCH &lt;BUD> OFFICER RESIGNS</TITLE>
<DATELINE>    ST. LOUIS, Mo., March 25 - </DATELINE><BODY>Anheuser-Busch Cos Inc said
Dennis Long, vice president and group executive of the company,
and president of its beer subsidiary, Anheuser-Busch Inc, is
resigning from the company.
    The company said it accepted his resignation at a regular
meeting of the board of directors.
    He will be replaced as president of the unit by August
Busch III, chairman and president of the company, and chairman
and chief executive officer of the unit, the company said.
    Long said in a statement referring to his resignation: "I
have great respect for Anheuser-Busch and its management team.
As president of Anheuser-Busch Inc I assume full responsibility
for the actions if its officers and employees and have chosen
to resign in the best interest of the company."
    Published reports have said Long is under investigation by
the company concerning charges of improper conduct by certain
employees and suppliers. A spokesman for the company would not
comment further about Long's resignation.
    The company's stock was down 1-1/8 to 34-3/4 this morning.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14898" NEWID="9377">
<DATE>25-MAR-1987 11:40:15.99</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1403&#31;reute
f f BC-******JOHNSON-SAYS-FE   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>JOHNSON SAYS FED'S ACTIONS YESTERDAY MEANT TO STABILIZE DOLLAR AT CURRENT LEVELS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14899" NEWID="9378">
<DATE>25-MAR-1987 11:40:26.79</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;f1404&#31;reute
d f BC-SUNSTAR-FOODS-INC-&lt;SU   03-25 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>SUNSTAR FOODS INC &lt;SUNF> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., March 25 -
    </DATELINE><BODY>Shr 23 cts vs not reported
    Net 282,000 vs 1,000
    Sales 18.6 mln vs 18.7 mln
    Six mths
    Shr 48 cts vs 17 cts
    Net 583,000 vs 213,000
    Sales 37.8 mln vs 37.5 mln
   NOTE: 1987 six months net includes a loss from discontinued
operations equal to two cts a share.
    1986 net includes losses from discontinued operations of
four cts in the quarter and six cts in the six months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14900" NEWID="9379">
<DATE>25-MAR-1987 11:43:29.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1418&#31;reute
r f BC-PHOENIX-RE-&lt;PXRE>-INI   03-25 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>PHOENIX RE &lt;PXRE> INITIAL OFFERING UNDER WAY</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Phoenix Re Corp said an initial public
offering of 2,500,000 common shares is under way at 13 dlrs
each through underwriters led by American Express Co's &lt;AXP>
Shearson Lehman Brothers Inc subsidiary and Advest Group Inc
&lt;ADV>.
    Phoenix Re was formed by Phoenix Mutual Life Insurance Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14901" NEWID="9380">
<DATE>25-MAR-1987 11:45:55.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1419&#31;reute
u f BC-NIPPON-SIGNAL-TO-ISSU   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON SIGNAL TO ISSUE 50 MLN SWISS FRANC NOTES</TITLE>
<DATELINE>    ZURICH, March 25 - </DATELINE><BODY>Nippon Signal Co Ltd is planning to
issue 50 mln Swiss franc notes with warrants, lead manager
Morgan Stanley and Co Inc said.
    It said details would be released tomorrow.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14902" NEWID="9381">
<DATE>25-MAR-1987 11:48:22.40</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;f1426&#31;reute
u f BC-HADSON-&lt;HADS>-TO-ACQU   03-25 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>HADSON &lt;HADS> TO ACQUIRE 85 PCT OF SEAXE &lt;SEAX></TITLE>
<DATELINE>    OKLAHOMA CITY, March 25 - </DATELINE><BODY>Hadson Corp said it has signed a
definitive agreement to acquire 85 pct of the outstanding
common stock of Seaxe Energy Corp.
    The company said it will buy the 85 pct interest in Seaxe
from shareholders owning restricted or controlled shares for
less than 200,000 Hadson common shares.
    It said closing is subject to the approval of title
assignments by the French government.  Seaxe is involved in oil
and natural gas exploration and development in the Paris Basin
of France.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14903" NEWID="9382">
<DATE>25-MAR-1987 11:48:37.67</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1427&#31;reute
d f BC-REUTERS-TO-BUY-I-P-SH   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>REUTERS TO BUY I P SHARP OF CANADA</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Reuters Holdings Plc &lt;RTRS.L> said it
had agreed in principle to buy &lt;I P Sharp Associates Ltd> of
Toronto for 30.4 mln stg.
    Sharp is a time-sharing network and database company
specialising in finance, economics, energy and aviation. It
operates a global packet-switching network and global limits
systems for foreign exchange trading.
    Sharp shareholders will be offered cash, shares or a
mixture of the two in settlement. The acquisition, which is
subject to Canadian government approval, would be through
amalgamation into a specially-created company.
    Reuters said it had been given options by a number of Sharp
shareholders covering 67 pct of the common stock pending
completion of a Reuters review of the company.
    Sharp operates 38 offices in 20 countries. In 1986 it
reported revenue of 55 mln Canadian dlrs with a pretax loss of
1.6 mln compared with a 1.9 mln profit in 1985.
    However, Sharp said that internal accounts showed the
company was in profit in the first two months of 1987.
    End-1986 net assets totalled 11.85 mln dlrs.
    A Reuters statement said the acquisition would fit
perfectly into its package for the banking and securities
industries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14904" NEWID="9383">
<DATE>25-MAR-1987 11:49:28.79</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;f1432&#31;reute
u f BC-TCBY-ENTERPRISES-&lt;TCB   03-25 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>TCBY ENTERPRISES &lt;TCBY> SPLITS STOCK</TITLE>
<DATELINE>    LITTLE ROCK, Ark., March 25 - </DATELINE><BODY>TCBY Enterprises Inc said its
board has approved a three-for-two split of its common stock
with a distribution to be made on April 24 to stockholders of
record on April 9.
    The split will increase the number of outstanding shares to
over 26 mln from about 17.3 mln shares now, the company said.
    TCBY Enetrprises is a franchisor and operator of retail
stores specializing in frozen yogurt-related treats.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14905" NEWID="9384">
<DATE>25-MAR-1987 11:49:35.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1433&#31;reute
r f BC-FIRST-INTERSTATE-&lt;I>   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST INTERSTATE &lt;I> SELLS CAPITAL NOTES</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>First Interstate Bancorp is offering
200 mln dlrs of subordinated capital notes due 1999 with an
8-5/8 pct coupon and par pricing, said lead manager Goldman,
Sachs and Co.
    That is 140 basis points more than the yield of comparable
Treasury securities.
    Non-callable to maturity, the issue is rated A-1 by Moody's
Investors Service Inc and A-plus by Standard and Poor's Corp.
First Boston, Salomon Brothers and Shearson Lehman co-managed
the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14906" NEWID="9385">
<DATE>25-MAR-1987 11:49:47.53</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1435&#31;reute
s f BC-RAYTHEON-CO-&lt;RTN>-SET   03-25 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>RAYTHEON CO &lt;RTN> SETS QUARTERLY</TITLE>
<DATELINE>    LEXINGTON, Mass., March 25 -
    </DATELINE><BODY>Qtly div 45 cts vs 45 cts prior
    Pay April 30
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14907" NEWID="9386">
<DATE>25-MAR-1987 11:50:00.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1436&#31;reute
d f BC-FIAT-MAY-ISSUE-BOND-F   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>FIAT MAY ISSUE BOND FOR LIBYAN STAKE, PAPER SAYS</TITLE>
<DATELINE>    FRANKFURT, March 25 - </DATELINE><BODY>Fiat Spa &lt;FIAT.MI> is considering
issuing a eurobond of up to 384 mln dlrs, convertible or with
warrants attached for exercise into its shares still with banks
after the placement of the Libyan stake last autumn, the
financial daily Handelsblatt reported, quoting bourse sources.
    The newspaper gave no other details. But dealers said
shares of Deutsche Bank AG &lt;DBKG.F> had been strong in recent
days, partly on hopes that the issue would allow the bank to
place its Fiat quota with investors at a reasonable price.
    Deutsche was lead underwriter for the 2.13 billion dlr Fiat
placement, announced on September 23.
    In Milan, a Fiat spokesman had no comment on the reports.
    A Deutsche Bank spokesman here said he had no knowledge of
a possible equity-linked Fiat bond. But German banking sources
said concern the bank had to take a hefty writedown for its
unplaced Fiat stock had weighed heavily on its share price.
    Milan share dealers also said Fiat stock had been under
pressure since the placement. Ordinary shares rose 20 lire to
12,880 today, but were well down from 16,600 on September 23.
    Sources close to Italian state-owned investment bank IMI
said earlier this month that a convertible issue was being
considered, but gave no details of the amount involved.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14908" NEWID="9387">
<DATE>25-MAR-1987 11:50:17.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1438&#31;reute
h f BC-ITALY'S-STET-FORMS-TE   03-25 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALY'S STET FORMS TELECOMMUNICATIONS FIRM</TITLE>
<DATELINE>    ROME, March 25 - </DATELINE><BODY>State holding company &lt;Societa Finanziaria
Telefonica Spa> (STET) said it was forming a new
telecommunications company, &lt;Teleo Spa> that intends to offer
electronic mail systems among its services.
    Teleo plans initial investments of 18 billion lire and
estimates annual sales could reach 90 billion lire within five
years, STET officials said at a news conference.
   STET will have a 10 pct stake in the new firm, with the
remaining share capital held by two STET subsidiaries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14909" NEWID="9388">
<DATE>25-MAR-1987 11:50:53.44</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;f1441&#31;reute
r f BC-P.H.-GLATFELTER-CO-&lt;G   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>P.H. GLATFELTER CO &lt;GLP> INCREASES DIVIDEND</TITLE>
<DATELINE>    SPRING GROVE, Pa., March 25 - </DATELINE><BODY>P.H. Glatfelter said its
board increased its quarterly dividend on its common stock to
14 cts per share, from 12.5 cts per share the prior quarter.
    It said the dividend is payable May 1, 1987, to
shareholders of record April 15, 1987.
    In addition, the company said it authorized the repurchase
of up to an additional one mln shares of its common stock.
    On March 27, 1985, the board had authorized the repurchase
of up to two mln shares, as adjusted for a two-for-one split,
effected in April 1986, the company said.
    The company said 521,508 shares may still be repurchased
under the 1985 authorization. It added any shares repurchased
would be added to the treasury and will be available for future
issuance.
    The company said it has no present plans to issue any of
the shares which may be repurchased. The company said it
presently has 24,614,352 common shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14910" NEWID="9389">
<DATE>25-MAR-1987 11:51:06.81</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1442&#31;reute
d f BC-LIFE-OF-INDIANA-CORP   03-25 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>LIFE OF INDIANA CORP &lt;LIFI> 4TH QTR LOSS</TITLE>
<DATELINE>    INDIANAPOLIS, IND., March 25 - 
    </DATELINE><BODY>Shr loss 19 cts vs profit 57 cts
    Net loss 103,005 vs profit 319,344
    Year
    Shr profit 22 cts vs profit 10 cts
    Net profit 1,236,347 vs profit 570,222
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14911" NEWID="9390">
<DATE>25-MAR-1987 11:51:30.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1444&#31;reute
r f BC-(CORRECTED)---TSENG-&lt;   03-25 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>(CORRECTED) - TSENG &lt;TSNG> SEES SALES INCREASE</TITLE>
<DATELINE>    NEWTON, Pa., March 25 - </DATELINE><BODY>Tseng Laboratories Inc said it
expects first quarter 1987 sales to exceed total sales for the
entire 1986 year, and said it expects earnings for the quarter
to grow at a faster rate than sales.
    Tseng posted total revenues for 1986 of 4,255,731, and net
income of 258,125, or 1.4 cts per share.
    Jack Tseng, president of the company, attributed the high
expectations to increased orders from major costomers, as well
as accelerated business from its growing reseller network.
    Tseng posted first quarter 1986 sales of 549,950, and net
income of 19,163, the company said. (corrects cts per share)
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14912" NEWID="9391">
<DATE>25-MAR-1987 11:54:07.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1453&#31;reute
u f BC-BRAZILIAN-BANK-STRIKE   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZILIAN BANK STRIKE SPREADS, UNION SAYS</TITLE>
<DATELINE>    SAO PAULO, March 25 - </DATELINE><BODY>A nationwide bank strike launched
yesterday by Brazilian bank workers gained more support today
with the closure of the &lt;Banco do Estado de Sao Paulo>
(Banespa) in Sao Paulo, a union spokesman said.
    The spokesman said about 530,000 of Brazil's 700,000 bank
workers were on strike. He said the chief development since
yesterday was the decision by the city's 20,000 Banespa workers
to come out on strike. Banespa is the Sao Paulo state bank.
    State-controlled &lt;Banco do Brasil SA>, with over 3,000
branches throughout the country, closed down yesterday.
    Bank industry sources say the closure of the Banco do
Brasil will soon force the shutdown of the many private banks
which are not strike-bound.
    The bankworkers are seeking an immediate pay rise of 100
pct and monthly salary adjustments.
    A spokesman for the National Federation of Banks, Adilson
Lorente, said that yesterday only 30 pct of private banks'
branches were strike-bound. He had no estimate of how many
workers were on strike or any information on the percentage of
branches open today.
 REUTER E
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14913" NEWID="9392">
<DATE>25-MAR-1987 11:54:46.68</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;f1455&#31;reute
r f BC-consolidated-norex   03-25 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATED NOREX TO ACQUIRE TRIWEB RESOURCES</TITLE>
<DATELINE>    CALGARY, Alberta, March 25 - </DATELINE><BODY>&lt;Consolidated Norex Resources
Ltd> said it agreed to acquire all issued and outstanding
shares of Triweb Resources Ltd, a privately held oil and gas
company with land holdings and production base in Alberta and
Saskatchewan.
    The company said specific details relating to purchase
price and other terms will be released on closing of the
transaction, expected by May 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14914" NEWID="9393">
<DATE>25-MAR-1987 11:55:26.46</DATE>
<TOPICS><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;f1457&#31;reute
u f BC-THAI-SUGAR-PRODUCTION   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>THAI SUGAR PRODUCTION CONTINUES HIGH IN FEB</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Thai sugar production continued at a
high level in February, latest figures received by the
International Sugar Organization (ISO) show.
    The figures show stocks at end-February of 2.49 mln tonnes
raw value against 2.33 mln a year earlier. Analysts said this
was a new peak for the date.
    Production in February was 961,000 tonnes against 888,000
in February 1986 and took the Nov/Feb total for the current
crop to 2.25 mln tonnes. Production normally tails off sharply
after March, but in recent years production from March to the
end of the crop has been over 500,000 tonnes, analysts said.
    Thailand's exports in February were 32,800 tonnes and
consumption 57,800.
    Last month the Thai Agriculture Ministry said 1986/87
production was expected to fall to 2.3 mln tonnes from 2.48 mln
in 1985/86.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14915" NEWID="9394">
<DATE>25-MAR-1987 11:55:50.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1460&#31;reute
b f BC-SWEDISH-EXPORT-CREDIT   03-25 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDISH EXPORT CREDIT ISSUES NEW ZEALAND DLR BOND</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Swedish Export Credit is issuing 75 mln
New Zealand dlr eurobonds due April 28, 1989, paying 19 pct and
priced at 101-1/4 pct, lead manager Credit Suisse First Boston
said.
    The bond is available in denominations of 1,000 and 5,000
dlrs and will be listed in Luxembourg. Fees comprise 7/8 pct
selling concession and 3/8 pct management and underwriting.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14916" NEWID="9395">
<DATE>25-MAR-1987 11:56:10.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1462&#31;reute
r f BC-APOLLO-COMPUTER-&lt;APCI   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>APOLLO COMPUTER &lt;APCI> IN JOINT MARKETING PACT</TITLE>
<DATELINE>    CAMBRIDGE, Mass., March 25 - </DATELINE><BODY>Apollo Computer Inc said it
entered into a joint marketing agreement with &lt;Palladian
Software Inc> to distribute an artificial intelligence software
package.
    Apollo said it will market the Palladian Management
Advisor, formerly known as the Financial Advisor, on Apollo
workstations.
    Apollo said the agreement signals the first time a general
business expert system is available for professional
workstations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14917" NEWID="9396">
<DATE>25-MAR-1987 12:00:04.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>singapore</D><D>philippines</D><D>indonesia</D><D>thailand</D><D>brunei</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1475&#31;reute
r f BC-ACCUGRAPH-IN-ASIA-MAR   03-25 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>ACCUGRAPH IN ASIA MARKETING PACT WITH TRIO-TECH</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>&lt;Accugraph Corp> said it named
Trio-Tech International Pte Ltd, of Singapore, as exclusive
distributor of Accugraph's computer-aided design and
manufacturing software for Singapore, the Philippines,
Thailand, Malaysia, Indonesia and Brunei.
    Financial terms were undisclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14918" NEWID="9397">
<DATE>25-MAR-1987 12:03:35.87</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1491&#31;reute
f f BC-***REICHHOLD-CHEMICAL   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REICHHOLD CHEMICALS INC EXPLORING POSSIBLE SALE OF EUROPEAN SUBSIDIARY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14919" NEWID="9398">
<DATE>25-MAR-1987 12:05:57.34</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>usa</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1508&#31;reute
b f BC-/NY-TRADERS-EXPECT-CH   03-25 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>NY TRADERS EXPECT CHINA TO STEP UP SUGAR BUYING</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Trade house sources said China is
expected to step up its sugar purchases following yesterday's
steep drop in world sugar prices.
    The consensus is that the Chinese will buy between 200,000
and 400,000 tonnes of raw sugar.
    "China is short of foreign exchange and a drop in prices is
usually taken as a buying opportunity by Peking," one trader
said.
    Yesterday, prices on the New York world sugar market
plummeted by 0.58 to 0.50 cent on heavy liquidation by
speculators, disenchanted over the market's lack of rallying
power.
    Speculation is that China will need the sugar for the
May/July period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14920" NEWID="9399">
<DATE>25-MAR-1987 12:06:05.30</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1509&#31;reute
u f BC-ROSS-STORES-INC-&lt;ROST   03-25 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSS STORES INC &lt;ROST> 4TH QTR JAN 31 LOSS</TITLE>
<DATELINE>    NEWARK, Calif., March 25 -
    </DATELINE><BODY>Shr loss 1.30 dlrs vs profit 29 cts
    Net loss 33.4 mln vs profit 7,386,000
    Sales 168.2 mln vs 128.4 mln
    Year
    Shr loss 1.61 dlrs vs profit 30 cts
    Net loss 41.4 mln vs profit 7,055,000
    Sales 527.5 mln vs 366.7 mln
    NOTE: Latest year net both periods includes 39.4 mln dlr
provision for closing 25 underperforming stores.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14921" NEWID="9400">
<DATE>25-MAR-1987 12:06:25.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1512&#31;reute
u f BC-ITALIAN-TREASURY-BILL   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN TREASURY BILL OFFER HAS MIXED RESPONSE</TITLE>
<DATELINE>    ROME, March 25 - </DATELINE><BODY>Market response to the Treasury's 24,500
billion lire offer of short-term treasury bills was mixed, with
three-month paper in strong demand but six and 12-month bills
undersubscribed, Bank of Italy figures show.
    Rates were unchanged on those indicated at the time the
offer was announced.
    The market was assigned all of the 3,500 billion lire of
three-month bills on offer after requesting a total of 4,695
billion. Effective net annualised compound yield on the bills
is 9.87 pct, down from 9.98 pct on the previous issue of
three-month paper.
    Of the 9,500 billion lire of six-month paper offered,
operators requested and were assigned 7,098 billion lire at a
net annualised compound rate of 9.24 pct, down from 9.30 pct
previously.
    The market requested and was assigned 8,584 billion lire of
the 11,500 billion lire of 12-month bills offered at a net
annual rate of 9.02 pct, down from 9.05 pct previously.
    The Bank of Italy took up a total 4,200 billion lire of the
remaining six and 12-month paper, leaving 1,118 billion lire
unassigned.
    The bills replace maturing paper worth 23,442 billion lire,
of which 20,321 billion lire is in the hands of market
operators and the remainder with the Bank of Italy.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14922" NEWID="9401">
<DATE>25-MAR-1987 12:09:13.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1533&#31;reute
u f BC-AFG-&lt;AFG>-EXPANDS-INT   03-25 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>AFG &lt;AFG> EXPANDS INTO AUTO GLASS REPLACEMENT</TITLE>
<DATELINE>    IRVINE, Calif., March 25 - </DATELINE><BODY>AFG Industries Inc said it is
entering the automobile replacement glass market with the
acquisition of A-1 Quality Glass, of Salt Lake City, and Tempo
Auto Glass, of Tacoma, Wash.
    Terms of the acquisitions were not disclosed.
    AFG also said that if the offer it has made as part of a
partnership with Wagner and Brown to acquire GenCorp Inc &lt;GY>
is successful, it will consider establishing autoglass stores
in GenCorp's retail tire outlets.
    AFG said that in addition to the two acquisitions, it has
been operating eight stores through its American Slat Glass
distribution group.
    It said a a newly formed subsidiary, AFG Auto Glass Inc,
will be looking for additional acquisitions as well as opening
new outlets.
    A-1 Quality Glass operates a central wholesale autoglass
distribution center and 23 stores in Utah, Arizona, and other
western states. Tempo operates four stores in the Pacific
northwest region.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14923" NEWID="9402">
<DATE>25-MAR-1987 12:10:38.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1550&#31;reute
r f BC-GREENWOOD-RESOURCES-S   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>GREENWOOD RESOURCES SAYS BANKS COULD FORECLOSE</TITLE>
<DATELINE>    ENGLEWOOD, Colo., March 25 - </DATELINE><BODY>&lt;Greenwood Resources Inc> 
said if it is unsuccessful in gaining shareholder approval for
a debt refinancing with Colorado National Bankshares Inc
&lt;COLC>, the bank will have the right to foreclose on
Greenwood's assets.
    On January 28, Greenwood's board approved an agreement with
Colorado National calling for the sale of 4,300,000 shares of
New London Oil owned by Greenwood for 1,700,000 dlrs and
calling for a restructuring and recapitalizing of Greenwood,
subject to shareholder approval.
    As a result of declines in the value of oil and natural gas
properties brought on by the fall in prices for those fuels,
Greenwood started facing substantial bank debt prepayment
requirements in 1986.
    The New London shares are to be sold to a party in London.
    On February 1, Colorado National released to the company
all cash flow from oil and natural gas operations and reduced
its debt in return for the payment of 1,700,000 dlrs from the
sale of the New London stock and other considerations.  Eighty
pct of Greenwood's cash flow from oil and gas operations had
been allocated to servicing debt to the bank.
    Under the deal with Colorado National, existing preferred
and common stocks would be converted into a new common stock,
subject to shareholder approval.
    The company said it expects to file proxy materials for the
special meeting of shareholders at which the matter will be
considered by the first week of April, mail material to
shareholders by early May and schedule the meeting for about 30
days thereafter.
    It said its 1985 audit -- not conducted at the end of that
year due to lack of funds -- is being conducted now, along with
the 1986 audit, by Touche Ross and Co.
    Greenwood said as soon as its 1985 audit is completed, it
will apply for readmission to the NASDAQ system, from which it
was delisted last year.
    It also said it probably plans to change its name to
Greenwood Holdings due to its planned redirection from natural
resources.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14924" NEWID="9403">
<DATE>25-MAR-1987 12:10:48.31</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1551&#31;reute
u f BC-NAVISTAR-&lt;NAV>-STILL   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>NAVISTAR &lt;NAV> STILL EXPECTS HIGHER 1987 NET</TITLE>
<DATELINE>    CHICAGO, March 25 - </DATELINE><BODY>Navistar International Corp chairman
Donald Lennox repeated that benefits from recapitalization are
likely to boost future earnings for fiscal 1987.
    Lennox told the annual meeting that future quarterly and
full year earnings from ongoing operations should be
"significantly above 1986 results."
    In his remarks, Lennox said management has no plans to
recommend reinstatement of the company's common stock dividend
in the foreseeable future.
    He said the outlook for the medium duty truck market
continues to point to little or no change. But recent order
receipts indicate a "firmer tone in the heavy duty truck
segment," which could result in a five to eight pct increase in
industry shipments for the full year, he said.
    After restructuring under the holding company format, the
company's present truck and engine subsidiary will be known as
Navistar International Transportation Corp. Neil Springer
currently president and chief operating officer of Navistar
International was named chairman of the new subsidiary.
    James Cotting, now vice chairman and chief financial
officer, was named to succeed Lennox as chairman and chief
executive officer of Navistar International Corp. Lennox will
retire March 31.
    Shareholders at the meeting approved a change in the
company's structure to a holding company format, to be
effective April 1.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14925" NEWID="9404">
<DATE>25-MAR-1987 12:11:40.73</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;f1558&#31;reute
r f BC-hees-international   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>HEES INTERNATIONAL SETS 100 MLN DLR SHARE ISSUE</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>&lt;Hees International Corp> said it filed
a preliminary prospectus in Canada for a 100 mln dlr issue of
1,000 class A preference shares, series G, priced at 100,000
dlrs a share.
    The preferred shares will carry a floating dividend rate
which will be determined in a monthly auction, it said.
    The issue is being bought by a group of underwriters
consisting of Dominion Securities Inc, Wood Gundy Inc, Merrill
Lynch Canada Inc, Gordon Capital Corp and Burns Fry Ltd.
    The issue raises total outstanding series G preferreds to
200 mln dlrs and total equity to more than 1.30 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14926" NEWID="9405">
<DATE>25-MAR-1987 12:11:51.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1560&#31;reute
r f BC-CORRECTED-LILLY-INDUS   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED-LILLY INDUSTRIAL COATINGS INC &lt;LICIA></TITLE>
<DATELINE>    INDIANAPOLIS, March 25 - </DATELINE><BODY>1st qtr Feb 28 end
    Shr 18 cts vs 13 cts
    Net 1,541,000 vs 1,122,000
    Sales 39.7 mln vs 33.5 mln
    Avg shrs 8,517,000 vs 8,441,000
    NOTE: Share adjusted for five pct stock dividend in August
1986.
    Company corrects current year sales.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14927" NEWID="9406">
<DATE>25-MAR-1987 12:12:53.17</DATE>
<TOPICS><D>trade</D><D>grain</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1568&#31;reute
r f BC-U.S.-SENATE-PANEL-APP   03-25 0144</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE PANEL APPROVES TRADE MISSION BILL</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The U.S. Senate Agriculture
Committee approved a bill that would establish farm trade and
aid missions to promote the use of U.S. food aid, donation,
credit and export subsidy programs by overseas customers.
    The bill, approved by voice vote, would establish trade
missions made up of representatives of the Departments of
Agriculture and State, the Agency for International
Development, the Overseas Private Investment Corp, market
development cooperatives and private voluntary organizations.
    At least 16 missions would have to be sent within one year
after enactment of the bill. The missions would promote U.S.
programs, including PL480, Section 416 donations, Export
Enhancement Program, the dairy export incentive program, and
export credit guarantee programs (GSM-102, GSM-103).
    The panel agreed to drop a provision in the original bill,
offered by Sen. John Melcher (D-Mont.), that would have
required the U.S. Agriculture Department to donate at least one
mln tonnes of surplus commodities to developing countries.
    Current law requires USDA to donate at least 750,000 tonnes
of surplus grains and dairy products under the Section 416 food
donation program.
    The Congressional Budget Office estimated that the proposed
increase in the minimum tonnage requirement would have cost up
to 50 mln dlrs per year, Senate staff said.
    The committee also dropped a provision identifying which
countries would be the focus of the trade missions' activities.
    Under the bill adopted by the committee, countries "friendly
to the United States" would be eligible to host the trade
missions.
    Melcher originally had proposed sending missions to Mexico,
the Philippines, Indonesia, Bangladesh, Senegal, Nigeria, Peru,
Kenya, the Dominican Republic, Costa Rica, Malaysia, Venezuela,
Tunisia and Morocco.
    The bill also would require the Foreign Agricultural
Service, FAS, to have at least 850 full-time employees during
fiscal years 1987-89. As of February 28, FAS had 790 full-time
employees, a FAS spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14928" NEWID="9407">
<DATE>25-MAR-1987 12:18:53.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1590&#31;reute
d f BC-CATERPILLAR-WORKERS-T   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>CATERPILLAR &lt;CAT> WORKERS TOLD TO END SIT-IN</TITLE>
<DATELINE>    GLASGOW, Scotland, March 25 - </DATELINE><BODY>The U.S. Caterpillar Tractor
Co was granted a court injunction ordering some 300 workers to
end their 10-week occupation of the firm's factory, court
sources said.
    The workers, staging a sit-in to protest Caterpillar's
decision to close the plant with the loss of 1,221 jobs, are
due to decide on their next step at a mass meeting tonight.
    Yesterday a spokesman for the workers said they would
comply with the law if forced out.
    Caterpillar wants to dismiss the workforce and close the
plant in May.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14929" NEWID="9408">
<DATE>25-MAR-1987 12:21:13.66</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;f1597&#31;reute
d f BC-BAT-SHARES-UNDERVALUE   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>BAT SHARES UNDERVALUED, SAY STOCK MARKET ANALYSTS</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>BAT Industries Plc &lt;BTI.L> 1986 results,
which were at the upper end of market expectations, showed the
company was in a strong position and that its shares were
probably undervalued, share analysts said.
    BAT shares were down at 524p in late afternoon trading
after a previous 535p close. They touched a high of 538p
earlier on news of a 19 pct rise in annual profits to 1.39
billion pre-tax.
    Stock market analysts said today's generally weak stock
market plus unwinding of positions after heavy buying of BAT
shares in the run-up to the results caused the fall in the
share price.
    "In the current market, people almost expect companies to
beat expectations," said one analyst, adding that pretax profits
of 1.35 to 1.40 billion stg had been forecast.
    BAT's 1986 figure of 1.39 billion stg compared with a 1985
pretax profit of 1.17 billion.
    Brokers noted that BAT's shift away from its
underperforming industries and the decreasing share of the
tobacco portion of the group were seen as good signs.
    BAT Chairman Patrick Sheehy told a news conference that the
tobacco sector of the company had declined to 50 pct from 74
pct four years ago.
    Sheehy said he could see the tobacco portion of the company
declining further as other sectors increased in importance.
    He said BAT was looking to expand in the area of financial
services, in particular in the U.S.
    Sheehy also said the group had "no sizeable acquisitions" in
sight in the near future.
    Analysts said BAT's increasingly good performance in the
U.K. Insurance area was encouraging.
    Its declining debt-to-equity ratio of currently about 16
pct also made it likely that BAT would soon be looking to make
major acquisitions, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14930" NEWID="9409">
<DATE>25-MAR-1987 12:21:58.23</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1600&#31;reute
f f BC--   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BALDRIGE SAYS U.S. WILL NOT LET JAPAN DOMINATE WORLD ELECTRONICS MARKET
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14931" NEWID="9410">
<DATE>25-MAR-1987 12:22:54.39</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1606&#31;reute
b f BC-***REICHHOLD-CHEMICAL   03-25 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>REICHHOLD &lt;RCI> EXPLORING SALE OF EUROPEAN UNIT</TITLE>
<DATELINE>    WHITE PLAINS, N.Y., March 25 - </DATELINE><BODY>Reichhold Chemicals Inc said
it is exploring the sale of its stake in its European
subsidiary Reichhold Chemie AG.
    Reichhold Chemie Ag, headquartered in Rausen, Switzerland,
had sales in excess of 75 mln dlrs last year. It is 83 pct
owned by Reichhold. The rest is owned by German and Swiss
shareholders.
    Reichhold said it is seeking the sale to focus on its
adhesives business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14932" NEWID="9411">
<DATE>25-MAR-1987 12:26:40.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1622&#31;reute
d f BC-AMERICUS-TRUST-FOR-ME   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICUS TRUST FOR MERCK &lt;MRK> NOW EFFECTIVE</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Alex Brown and Sons Inc said an
Americus Trust for Merck and Co Inc shares was declared
effective by the Securities and Exchange Commission.
    Merck common stock tendered into an Americus Trust is
converted into trust units on a one-share-for-one-unit basis.
    Units may then be broken into their prime and score
components and traded separately.
    The prime entitles the holder to dividend payments and to
any stock price increase up to a limit of 200 dlrs for Merck
shares. The score components entitles holders to profit from
future price increases above 200 dlrs, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14933" NEWID="9412">
<DATE>25-MAR-1987 12:26:42.21</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1623&#31;reute
b f BC-******UAL-SAID-DONALD   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UAL SAID DONALD TRUMP WAS INTERESTED IN UAL STOCK "AS INVESTMENT"
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14934" NEWID="9413">
<DATE>25-MAR-1987 12:27:21.45</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1628&#31;reute
d f BC-INT'L-BROADCASTING-&lt;I   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>INT'L BROADCASTING &lt;IBCA> SETS REVERSE SPLIT</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., March 25 - </DATELINE><BODY>International Broadcasting
Corp said shareholders at its annual meeting approved a one for
25 reverse stock split.
    The split will be effective after completion of filing
requirements, it said. New certificates will be needed, it
added.
    The media company said it currently has 40,950,000 common
shares issued and outstanding and, upon completion of the
reverse split, will have 1,638,000 shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14935" NEWID="9414">
<DATE>25-MAR-1987 12:28:40.36</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1633&#31;reute
r f BC-BI-INC-&lt;BIAC>-SETS-RE   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>BI INC &lt;BIAC> SETS REVERSE SPLIT</TITLE>
<DATELINE>    BOULDER, Colo., March 25 - </DATELINE><BODY>BI Inc said it is implementing a
one-for-15 reverse split to shareholders of record today.
    It said any fractional shares will be redeemed for cash,
reducing its free-trading stock in public hands to 1,300,000
shares from 20 mln and its total shares outstanding to
1,993,000 from 29.9 mln.
    Shareholders approved the reverse split in October.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14936" NEWID="9415">
<DATE>25-MAR-1987 12:30:53.72</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F V RM
&#22;&#22;&#1;f1637&#31;reute
b f BC-BALDRIGE-SAYS-JAPAN-M   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE SAYS JAPAN MUST OPEN ITS MARKETS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Commerce Secretary Malcolm Baldrige
said the United States will not stand idly by and let Japan
dominate the world electronics market.
    Baldrige told the Senate Finance Committee the United
States would insist Japan open its markets to U.S. products as
the U.S. market is open to Japanese products.
    Asked after his testimony if this meant the United States
would close its markets to Japan if they did not open theirs,
Baldrige said, "I'm not prepared to say that, but it certainly
would be one of the alternatives studied."
    Baldrige said in his testimony Japan had a closed
supercomputer market and a restricted telecommunications
market.
    "I can only conclude that the common objective of the
Japanese government and industry is to dominate the world
electronics market. Given the importance of this market to U.S.
industry in general and our defense base in particular, we
cannot stand by idly," he said.
    He said it was these concerns about national security which
led him to express reservations over the proposed acquisition
of Fairchild Semiconductor by Fujitsu of Japan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14937" NEWID="9416">
<DATE>25-MAR-1987 12:31:53.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1642&#31;reute
r f BC-K-MART-&lt;KM>-UNIT-BUYS   03-25 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>K MART &lt;KM> UNIT BUYS TEXAS LAND</TITLE>
<DATELINE>    DALLAS, March 25 - </DATELINE><BODY>K Mart Apparel Corp, a unit of K Mart
Corp, said it purchased 35 acres 15 miles east of downtown
Dallas from Baker Associates No. 2 Joint Venture.
    Financial details were not disclosed.
    K Mart said it will construct a 456,000-square-foot
distribution center and 15,000 square feet of office space on
the site.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14938" NEWID="9417">
<DATE>25-MAR-1987 12:34:47.74</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1659&#31;reute
u f BC-BASF-CORP-YEAR-NET   03-25 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>BASF CORP YEAR NET</TITLE>
<DATELINE>    PARSIPPANY, N.J., March 25 -
    </DATELINE><BODY>Net 105 mln dlrs vs 39 mln
    Sales 3.6 billion vs 2.6 billion
    NOTE: Wholly-owned by &lt;BASF AG> of West Germany.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14939" NEWID="9418">
<DATE>25-MAR-1987 12:36:22.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>mose</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1670&#31;reute
r f BC-TORONTO-DOMINION-BUYI   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TORONTO DOMINION BUYING MONTREAL EXCHANGE SEAT</TITLE>
<DATELINE>    MONTREAL, March 25 - </DATELINE><BODY>&lt;Toronto Dominion Bank> said it agreed
to purchase a seat on the Montreal Stock Exchange for 40,000
dlrs, subject to regulatory and exchange approval.
    The move came two weeks after Toronto Dominion paid 195,000
dlrs for a seat on the Toronto Stock Exchange, which made it
the first bank to apply for membership on a Canadian exchange.
The Toronto and Montreal exchanges are Canada's two biggest
equity markets.
    Proposed Canadian government legislation would allow banks
full participation in the securities business after June 30.
Toronto Dominion has owned a discount brokerage since 1984.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14940" NEWID="9419">
<DATE>25-MAR-1987 12:36:25.36</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1671&#31;reute
f f BC-******LEAR-SIEGLER-DE   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LEAR SIEGLER DEPOSITS 79.4 MLN DLRS TO SECURE NOTES, EFFECTS REORGANIZATION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14941" NEWID="9420">
<DATE>25-MAR-1987 12:36:58.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1673&#31;reute
r f BC-J.A.M.-&lt;JAMY>-WINS-1.   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>J.A.M. &lt;JAMY> WINS 1.5 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>J.A.M. Inc said it won a 1.5 mln dlr
contract to produce and develop a series of courses on computer
and data processing systems for use by colleges and 
businesses.
    J.A.M. Executive Vice President Anthony Busch said he could
not disclose the name of the firm that awarded J.A.M. the
contract because of a confidentiality agreement. But he
described it as a leading supplier of educational materials.
    J.A.M., headquartered in Rochester, N.Y., develops 
training programs and supplies video production services.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14942" NEWID="9421">
<DATE>25-MAR-1987 12:39:19.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1684&#31;reute
r f BC-UNISYS-&lt;UIS>-NEW-MAIN   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>UNISYS &lt;UIS> NEW MAINFRAME INTRODUCTION NOT SET</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Unisys Corp vice chairman Joseph
Kroger said the company's new series 1100 mainframe computer
products will not be available for at least a year.
    At a press conference introducing new products in the V500
computer series, Kroger said Unisys's new Super 90 and Mercury
computers will not be available until after March 1988. The
products are being developed for addition to the 1100 series.
    No specific time frame had been set for introduction of the
Super 90, which will be based on the existing 1190 mainframe,
or the Mercury, which will be a new computer, a Unisys
spokesman said.
    "There is a lot of pent-up customer demand for the
products," Kroger told Reuters. But Unisys has not lost any
customers currently using its 1190 mainframes because of the
wait for the new products, he said.
    At the press conference, Kroger said Unisys is not
developing a one-megabit computer memory chip but will probably
buy them when appropriate from Japanese suppliers.     In
response to a question, Kroger indicated first quarter orders
should be up from a year ago, with international business good
and the U.S. market still "difficult."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14943" NEWID="9422">
<DATE>25-MAR-1987 12:40:42.84</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;f1693&#31;reute
s f BC-MONTANA-POWER-CO-&lt;MTP   03-25 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>MONTANA POWER CO &lt;MTP> VOTES QUARTERLY DIVIDEND</TITLE>
<DATELINE>    BUTTE, MONT., March 25 -
    </DATELINE><BODY>Qtly div 67 cts vs 67 cts prior qtr
    Pay 30 April
    Record 10 April
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14944" NEWID="9423">
<DATE>25-MAR-1987 12:41:37.55</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;f1696&#31;reute
u f BC-UAL-&lt;UAL>-SAID-TRUMP   03-25 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>UAL &lt;UAL> SAID TRUMP TALKED WITH UAL CHAIRMAN</TITLE>
<DATELINE>    New York, March 25 - </DATELINE><BODY>Real estate magnate Donald Trump told
UAL Inc Chairman Richard Ferris that he was interested in UAL
stock as an investment, according to a UAL executive.
    Trump, who was unavailable for comment, is believed by
market sources to have a sizeable position in UAL, which he
began accumulating several weeks ago. UAL stock today was up
three at 63 in active trading.
    "They (ferris and Trump) talked last week. Apparently,
Trump said he was interested in it as an investment. He didn't
say how much stock he had. He didn't say what he would or
wouldn't do about it," said UAL senior vice president Kurt
Stocker.
    Trump is believed to have close to five pct of UAL's stock,
market sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14945" NEWID="9424">
<DATE>25-MAR-1987 12:42:36.62</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;f1702&#31;reute
r f BC-GROLIER-&lt;GLR>-DEBT-UP   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GROLIER &lt;GLR> DEBT UPGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Moody's Investor Service Inc said it
upgraded Grolier Inc's nearly 116 mln dlrs of debt.
    Raised were the company's senior debentures raised to Ba-3
from B-3 and convertible subordinated debentures to B-2 from
B-3.
    The rating agency cited an improvement in profitabiliy of
Grolier's primary publishing businesses. Moody's said the
company has lowered its financial leverage as well as its
dependence on the retail sale of encyclopedias.
    Grolier has also reduced its exposure to developing
countries, Moody's noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14946" NEWID="9425">
<DATE>25-MAR-1987 12:43:33.90</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;f1707&#31;reute
d f BC-TEAM-INC-&lt;TMI>-3RD-QT   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>TEAM INC &lt;TMI> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    HOUSTON, March 25 -
    </DATELINE><BODY>Shr profit five cts vs loss 18 cts
    Net profit 91,000 vs loss 355,000
    Revs 11.5 mln vs 11.7 mln
    Nine mths
    Shr profit six cts vs loss 1.45 dlrs
    Net profit 127,000 vs loss 2,846,000
    Revs 31.8 mln vs 34.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14947" NEWID="9426">
<DATE>25-MAR-1987 12:43:36.38</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1708&#31;reute
f f BC-******TODD-SHIPYARDS   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TODD SHIPYARDS CORP OMITS QTLY COMMON DIV, SETS PREFERRED PAYOUT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14948" NEWID="9427">
<DATE>25-MAR-1987 12:43:43.13</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;f1709&#31;reute
d f BC-RSI-CORP-&lt;RSIC>-2ND-Q   03-25 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>RSI CORP &lt;RSIC> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    GREENVILLE, S.C., March 25 -
    </DATELINE><BODY>Shr 33 cts vs 13 cts
    Net 2,266,000 vs 849,000
    Revs 24.1 mln vs 16.0 mln
    1st half
    Shr 61 cts vs 24 cts
    Net 4,236,000 vs 1,619,000
    Revs 47.4 mln vs 33.5 mln
    NOTE: Share after stock splits.
    Net includes discontinued operations loss four cts shr vs
nil in quarter and loss seven cts vs gain one ct in half.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14949" NEWID="9428">
<DATE>25-MAR-1987 12:43:47.27</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;f1710&#31;reute
d f BC-RCM-TECHNOLOGIES-INC   03-25 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>RCM TECHNOLOGIES INC &lt;RCMT> 1ST QTR JAN 31 LOSS</TITLE>
<DATELINE>    CAMDEN, N.J., March 25 -
    </DATELINE><BODY>Shr loss one ct vs loss one ct
    Net loss 89,844 vs loss 85,731
    Revs 3,384,726 vs 4,646,285
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14950" NEWID="9429">
<DATE>25-MAR-1987 12:43:53.11</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;f1711&#31;reute
d f BC-MCCLAIN-INDUSTRIES-IN   03-25 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>MCCLAIN INDUSTRIES INC &lt;MCCL> 1ST QTR DEC 31 NET</TITLE>
<DATELINE>    STERLING HEIGHS, Mich., March 25 -
    </DATELINE><BODY>Shr 24 cts vs 13 cts
    Net 380,325 vs 211,183
    Sales 5,046,578 vs 3,941,764
    NOTE: Current year net includes gain from sale of Sterling
Heights, Mich., plant of 174,000 dlrs.  Another 698,000 dlrs of
gain from sale sale has been treated as deferred income.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14951" NEWID="9430">
<DATE>25-MAR-1987 12:45:25.40</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f1712&#31;reute
f f BC-******FED-OFFERS-TO-B   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED OFFERS TO BUY ONE BILLION DLRS OF BILLS FOR CUSTOMER, AFTER NOTE AUCTION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14952" NEWID="9431">
<DATE>25-MAR-1987 12:45:57.39</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1715&#31;reute
u f BC-SYNALLOY-&lt;SYO>-ENDS-P   03-25 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>SYNALLOY &lt;SYO> ENDS PLANS TO SELL UNIT</TITLE>
<DATELINE>    SPARTANBURG, S.C., March 25 - </DATELINE><BODY>Synalloy Corp said it has
ended talks on the sale of its Blackman Uhler Chemical Division
to Intex Products Inc because agreement could not be reached.
    The company said it does not intend to seek another buyer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14953" NEWID="9432">
<DATE>25-MAR-1987 12:46:05.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1716&#31;reute
r f BC-C-I-L-ACQUIRING-TRIMA   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>C-I-L ACQUIRING TRIMAC'S STAKE IN TRICIL</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>&lt;C-I-L Inc> said it would exercise its
right to acquire &lt;Trimac Ltd>'s stake in their jointly owned
Tricil Ltd for 91 mln dlrs, with closing expected May 22.
    C-I-L added that the final price could be less, however,
depending on an Ontario court ruling resulting from a
previously reported legal action launched by C-I-L.
    Mississauga, Ontario-based Tricil is a waste management
company with operations in the U.S. and Canada.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14954" NEWID="9433">
<DATE>25-MAR-1987 12:49:54.20</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1726&#31;reute
r f BC-EC-INFLATION-STARTS-T   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>EC INFLATION STARTS TO RISE AGAIN IN FEBRUARY</TITLE>
<DATELINE>    LUXEMBOURG, March 25 - </DATELINE><BODY>Inflation in the European Community,
which fell to its lowest since the 1960s between November and
January, started to take off again last month, figures from the
EC statistics office Eurostat showed.
    Consumer prices were on average three pct higher than in
February 1986, the office said. This compared with a year on
year rise of 2.7 pct in January, the lowest for 25 years, and
was the highest figure since October.
    Prices rose in February by 0.3 pct from January, after
rises of 0.4 pct in January and of 0.2 pct in each of the last
three months of 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14955" NEWID="9434">
<DATE>25-MAR-1987 12:51:07.95</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1732&#31;reute
d f BC-PANTERA'S-&lt;PANT>-TO-B   03-25 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>PANTERA'S &lt;PANT> TO BUY TEN PIZZA RESTAURANTS</TITLE>
<DATELINE>    ST. LOUIS, MO., March 25 - </DATELINE><BODY>Pantera's Corp said it agreed to
buy ten pizza restaurants in southeastern Colorado from
creditors foreclosing on the facilities.
    The purchase price includes 1.25 mln dlrs in cash and
company stock, it said.
    Separately, Pantera's said it issued an area development
agreement with a franchisee group for northeastern Colorado,
including the Denver area, for the opening of about 20
franchised Pantera's pizza restaurants.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14956" NEWID="9435">
<DATE>25-MAR-1987 12:51:29.99</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1733&#31;reute
f f BC-******ALLIED-SIGNAL-I   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ALLIED-SIGNAL INC TO SELL LINOTYPE GROUP TO COMMERZBANK OF WEST GERMANY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14957" NEWID="9436">
<DATE>25-MAR-1987 12:53:09.36</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>herrington</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F
&#22;&#22;&#1;f1739&#31;reute
r f BC-ENERGY/U.S.-OIL-OUTPU   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGY/U.S. OIL OUTPUT</TITLE>
<AUTHOR>    By ROBERT TRAUTMAN, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Energy Secretary John Herrington has
proposed several ways to boost U.S. oil production, but he said
all would cost the Treasury money and will come under close
White House scrutiny before action is taken.
    One measure he said he favored would raise the depletion
allowance to 27.5 pct on new oil and gas production as well as
production using enhanced extraction methods.
    Herrington said such a plan would cost 200 mln dlrs a year.
The White House, reacting, said it did not favor amending the
tax code, but would look at the proposal.
    Herrington's proposals to spur production were made along
with the release last week of the energy department's report on
energy and the national security.
    The report said U.S. oil imports, rapidly rising, could hit
50 pct by the mid 1990s and have potentially damaging
implications for national security.
    He has said since in speeches and at news conferences that
any plan he would back to spur lagging domestic oil production
would have to meet three criteria--increase production, not
cause economic dislocation, and be low cost to the taxpayer.
    Herrington said an import fee would meet the first test,
spurring production but fail the second and third.
    He said it would raise production and return 120,000 oil 
workers to their jobs, but at the same time it lifted oil
prices, the higher prices would cost 400,000 jobs nationwide
and cut the gross national product by 32 billion dlrs.
    A tax on gasoline, he said, would fail the first criteria
by not increasing domestic production.
    In any case, U.S. officials say, President Reagan remains
firmly opposed to an import fee and a gasoline tax.
    Options which meet Herrington's criteria include:
    - Loan-price guarantees to shield banks from defaults by
borrowers because of lower oil prices. It was estimated that if
oil fell to five dlrs a barrel it could trigger defaults that
could cost the government an estimated 15 billion dlrs.
    - A five pct tax credit for exploration and development. It
would raise oil and gas production the equivalent of 325,000
barrels a day, at a cost of 740 mln dlrs a year.
    - A five pct credit only for geological and geophysical
expenditures. It would increase production by 80,000 barrels a
day, at a cost of 65 mln dlrs.
    - Lower bid minimums on outer continental shelf acreage to
spur exploration. A drop from the present 150 dlrs per acre for
the typical 5,760 acre tract to 25 dlrs per acre would lower
the cost of the standard tract lease to 144,000 dlrs.
    Herrington also pressed anew for existing Administration
proposals to deregulate natural gas, which he said would cut
the need for imported oil by 300,000 barrels daily.
    He also called again for Congressional approval to explore
off the continental shelf, which may hold more than 12 billion
barrels of oil, and the Arctic National Wildlife Refuge, which
may hold nine billion barrels.
    Herrington said he understood the Reagan's reluctance to 
amend the newly enacted tax code to fund some of these
proposals, but added he hoped his department's energy/security
study would make a strong case for the need to help the
struggling domestic oil industry.
    Another move Herrington said he will press anew, even
though it had been rejected earlier by the White House, is to
raise the fill-rate for the Strategic Petroleum Reserve to
100,000 barrels a day from its planned 1988 rate of 35,000.
    This, he said, would further bolster national security in
case of an oil-supply disruption.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15000" NEWID="9437">
<DATE>25-MAR-1987 12:53:59.89</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1741&#31;reute
u f BC-TODD-SHIPYARDS-&lt;TOD>   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>TODD SHIPYARDS &lt;TOD> OMITS COMMMON DIVIDEND</TITLE>
<DATELINE>    JERSEY CITY, N.J., March 25 - </DATELINE><BODY>Todd Shipyards Corp said it
omitted payment of the quarterly dividend on its common stock
and lowered the dividend on its series A preferred stock to 75
cts from 77 cts a share.
    Todd said the 75 ct preferred dividend will be paid May one
to shareholders of record April 15.
    The company said it omitted the common dividend to cover
both losses from a commercial ship conversion contract and
increased reserves for previously announced discontinued
shipyard operations.
    In addition, the company said its lenders agreed to
temporarily reduce the net worth requirement of its revolving
credit and term-loan pact to 140 mln dlrs from 130 mln.
    The reduction will hold through May 15, it said.
    Todd said the reduction in the net worth requirement
allowed for the payment of the preferred dividend and prevented
it from violating covenants of its credit agreement.
    The company said it is also negotiating with its lenders to
extend the reduced net worth terms beyond May 15.
    Todd added that it has suffered financially because of the
U.S. Navy's unwillingness to release certain retentions under
completed ship construction contracts and a general decrease in
U.S. military spending.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14958" NEWID="9438">
<DATE>25-MAR-1987 12:56:27.95</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1751&#31;reute
r f BC-IMO-DELAVAL-&lt;IMD>-SET   03-25 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>IMO DELAVAL &lt;IMD> SETS INITIAL DIVIDEND</TITLE>
<DATELINE>    LAWRENCEVILLE, N.J., March 25 - </DATELINE><BODY>Imo Delaval said its board
declared an initial quarterly dividend of 14 cts per share,
payable April 24 to holders of record on April 6.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14959" NEWID="9439">
<DATE>25-MAR-1987 12:58:32.85</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;f1753&#31;reute
b f BC-/-FED-TO-PURCHASE-TRE   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>FED TO PURCHASE TREASURY BILLS FOR A CUSTOMER</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>The Federal Reserve will purchase
approximately one billion dlrs of U.S. Treasury bills for a
customer after the Treasury's auction of four-year notes, a Fed
spokesman said.
    The spokesman said the Fed intends to purchase bills
maturing in up to six months.
    Dealers said Federal funds were trading at 6-3/16 pct when
the Fed announced the operation. Many had expected to Fed to
buy bills for itself, thereby adding permanent reserves to the
banking system. Since it did not do so today, this Fed move is
likely tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15007" NEWID="9440">
<DATE>25-MAR-1987 12:59:13.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1757&#31;reute
u f BC-GOULD-&lt;GLD>-INTRODUCE   03-25 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>GOULD &lt;GLD> INTRODUCES NEW MINI SUPERCOMPUTERS</TITLE>
<DATELINE>    CHICAGO, March 25 - </DATELINE><BODY>Gould Inc said it is introducing a new
generation of very high performance mini supercomputers for
intensive engineering applications.
    Called the NPL, the mini supercomputers use Gould's UTX/32
operating system, which is a compatible multi-processor
extension of the UNIX operating system consisting of complete
AT and T System V and Berkeley BSD 4.3 environments, company
officials said at a teleconference.
    "The introduction of the NPL family of mini supercomputers,
is by far Gould's most significant computer line developed to
date," chairman James McDonald said.
    Patrick Rickard, computer systems president, said that he
expects sales of NPL family computers to account for 20 pct of
the division's revenues for the first year after its
introduction, and increase to 80 pct of revenues in five years.
    Computer operations accounted for one third or about 300
mln dlrs of Gould's total revenues for 1986 of 908.8 mln dlrs,
a company spokesman said.
    The NP1, the first series of the new family, uses an open
systems architecture, including parallel and high speed vector
processing and "massive" memory to achieve its supercomputing
capability, Gould officers said.
    The NP1 family will form the foundation for new systems
which are expected to be brought to market through the 1990s,
McDonald said.
    The computers are expected to have applications in science
and engineering, in aerospace and defense and extend into other
areas such as medical sciences, Rick Baron, senior director of
marketing development said.
    Gould said it priced and packaged the NP1 at a cost which
will provide the power and advantages of a traditional
supercomputer at a fraction of the cost.
    The NP1 product line includes several models priced from
395,000 dlrs to 2.9 mln dlrs, Gould officials said adding that
the company has already signed orders for eight NP1 systems.
    The low-end NP1 models will be available in the 1987 third
quarter and the high-end will be available in the 1988 first
quarter, they said.
    According to Gould officials, the NP1 cost 50 mln dlrs to
develop and the company plans to spend between 100 to 150 mln
to develop the rest of the family line. Between now and 1995,
the company expects to ship two to three billion dlrs of NP1
mini supercomputers.
    Offering up to 96 mln Whetstone instructions per second and
320 mln floating point operations per second, the largest of
the new systems, Model 480, incorporates up to four billion
bytes of physical memory, they said.
    The NP1 family has connectability but not compatability
with IBM and Xerox computers, a company spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14960" NEWID="9441">
<DATE>25-MAR-1987 13:04:25.16</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1777&#31;reute
u f BC-NATIONAL-COMPUTER-SYS   03-25 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL COMPUTER SYSTEMS INC &lt;NLCS>4TH QTR NET</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., March 25 - 
    </DATELINE><BODY>Shr 25 cts vs 31 cts
    Net 4,798,000 vs 5,380,000
    Revs 65.3 mln vs 58.2 mln 
    Avg shrs 19.2 mln vs 17.5 mln
    Year
    Shr 84 cts vs 89 cts
    Net 15,750,000 vs 15,191,000
    Revs 262.1 mln vs 215.8 mln
    Avg shrs 18.8 mln vs 17.1 mln

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14961" NEWID="9442">
<DATE>25-MAR-1987 13:04:57.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1781&#31;reute
r f BC-SEC-SANCTIONS-ACCOUNT   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC SANCTIONS ACCOUNTANTS KMG MAIN HURDMAN</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Securities and Exchange
Commission sanctioned the national accounting firm KMG Main
Hurdman for improper professional conduct.
    It said the New York firm consented to the entry of the
commission's order without admitting or denying the finding.
    The proceedings arose from a 1982 audit of the financial
statement of the First National Bank of Midland, Texas, and
1983 and 1984 audits of financial statements of Time Energy
Systems, Inc, Houston.
    Midland was declared insolvent in 1983.
    The SEC ordered that any new review of Main Hurdman
procedures to include the adequacy of consultations between the
firm's main office and its local offices and the implementation
of the firm's policies.
    It said the Midland office conducted the Bank audit,
although some senior partners in New York were consulted, and
its Houston office conducted the Time Energy audits.
    The SEC said also that Main Hurdman agreed that if it is
acquired by a larger firm, its practices will be integrated
into the combined firm, including training programs and quality
control reviews.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14962" NEWID="9443">
<DATE>25-MAR-1987 13:05:07.13</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>west-germany</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1782&#31;reute
r f BC-ALLIED-SIGNAL-&lt;ALD>-T   03-25 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLIED-SIGNAL &lt;ALD> TO SELL LINOTYPE UNIT</TITLE>
<DATELINE>    MORRIS TOWNSHIP, N.J., March 25 - </DATELINE><BODY>Allied-Signal Inc said it
agreed to sell its Linotype Group unit to &lt;Commerzbank AG>
of West Germany for an undisclosed amount.
    Allied-Signal said Commerzbank is expected to offer shares
of the unit to the public later this year.
    The company said the agreement is subject to approval by
the government and its shareholders.
    The Linotype unit, based in Eschborn, West Germany, had
revenues in 1986 of more than 200 mln dlrs, the company said.
    The company said top management of Linotype plan to remain
with the unit, which has operations in the United States, West
Germany and the United Kingdom.
    Allied-Signal announced in December that it planned to sell
the Linotype unit as well as six other businesses in its
electronics and instrumentation segment.
    Linotype is a supplier of type and graphics composition
systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14963" NEWID="9444">
<DATE>25-MAR-1987 13:07:23.44</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;f1793&#31;reute
d f BC-CONTINENTAL-HEALTH-AF   03-25 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTINENTAL HEALTH AFFILIATES INC &lt;CTHL> 4TH QTR</TITLE>
<DATELINE>    ENGLEWOOD CLIFFS, N.J., March 25 -
    </DATELINE><BODY>Shr 10 cts vs five cts
    Net 512,000 vs 230,000
    Revs 16.8 mln vs 9,025,000
    Year
    Shr 55 cts vs 34 cts
    Net 2,662,000 vs 1,541,000
    Revs 57.5 mln vs 32.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14964" NEWID="9445">
<DATE>25-MAR-1987 13:07:57.86</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;f1795&#31;reute
r f BC-canada-sets-oil   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA SETS OIL INDUSTRY AID PACKAGE</TITLE>
<DATELINE>    EDMONTON, Alberta, March 25 - </DATELINE><BODY>Canada's federal government
will provide a 350 mln dlr oil industry aid package that
includes cash incentives designed to cover one-third of a
company's oil and gas exploration and development costs, Energy
Minister Marcel Masse announced.
    The aid program will inject about 350 mln dlrs a year into
the oil and gas industry and could lead to more than one
billion dlrs in new investment, Masse told a news conference.
    The program will affect drilling done anywhere in Canada on
or after April 1, 1987.
    Masse told reporters that the government's oil industry aid
package is aimed at small and medium sized companies.
    The aid package, called the Canadian Exploration and
Development Incentive Program, will restrict the total payments
that any individual company can claim to 10 mln dlrs a year.
    Masse said the program will probably generate new
employment equivalent to 20,000 people working for a year.
    He said oil industry aid is needed because exploration and
development spending dropped by at least 50 pct since world oil
prices fell during the first half of 1986.
    Energy Minister Masse said the federal government decided
to provide cash incentives so a large number of non-tax paying
companies, mainly small Canadian firms, will receive the full
value of the incentive. Such companies would not immediately
benefit from tax benefits, he said.
    The federal government also wanted to deliver an aid
program outside the tax system. Finance Minister Michael Wilson
is now reviewing Canada's tax system and plans to announce tax
reform proposals later this spring.
    An important feature of the aid program is a decision to
let companies issue flow-through shares, allowing investors to
benefit from the subsidy rather than restricting benefits to
only participating companies, he said.
    Allowing flow-through shares under the program will make it
easier for companies to attract investors in exploration and
development, Masse said.
    He told reporters his department is still considering
whether to allow partnerships and other entities to qualify for
the subsidy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14965" NEWID="9446">
<DATE>25-MAR-1987 13:09:01.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f1801&#31;reute
r f BC-CONTINENTAL-&lt;CTHL>-RE   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTINENTAL &lt;CTHL> REPURCHASES NOTES</TITLE>
<DATELINE>    ENGLEWOOD CLIFFS, N.J., March 25 - </DATELINE><BODY>Continental Health
Affiliates Inc said it repurchased about 30 pct of its June
1985 Swiss franc convertible bond offering at prices below par.
    The company said it continues to hedge the balance and seek
opportunities to repurchase below par an increasing percentage
of the bond issue.
    Continental said it operates and has under development
1,943 nursing home beds and 404 residential health care beds.
It said that by sustaining its growth momentum, these numbers
could more than double by the end of the year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14966" NEWID="9447">
<DATE>25-MAR-1987 13:10:55.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f1809&#31;reute
r f BC-&lt;ATLANTIS-GROUP-INC>   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ATLANTIS GROUP INC> TO OFFER SHARES, NOTES</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Atlantis Group Inc said it has filed for
an initial public offering of 1,500,000 common shares and a 50
mln dlr offering of subordinated notes due 1997.
    The company said Robinson-Humphrey Co Inc and Sutro and Co
Inc will manage the share offering and American Express Co's
&lt;AXP> Shearson Lehman Brothers Inc and Robinson-Humphrey the
debt offering.  Proceeds will be used to reduce debt and seek
acquisitions.
    Atlantis is involved in plastics and furniture
manufacturing and in property-casualty insurance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14967" NEWID="9448">
<DATE>25-MAR-1987 13:14:42.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1816&#31;reute
u f BC-MOUNTLEIGH-GROUP-SEEK   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>MOUNTLEIGH GROUP SEEKS 100 MLN STG FACILITY</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>&lt;Mountleigh Group Plc>, a U.K. Property
company, is seeking a 100 mln stg multicurrency credit
facility, Union Bank of Switzerland (London branch) said.
    The revolving, evergreen facility will be completely
underwritten and the borrower will be able to issue cash
advances, sterling bankers acceptances and sterling commercial
paper through a tender panel.
    There will be a cap of 50 basis points over the London
Interbank Offered Rate (Libor)on any drawings for advances and
a 50 basis points commission on acceptances. There will be a
facility fee of 3/16 pct.
    Banks are being invited to join at 20 to 25 mln stg for
12-1/2 basis points, at 10 to 15 mln stg for 10 basis points
and at five to 7.5 mln stg for 7.5 basis points.
    The facility, which can only be cancelled after
underwriters provide 61 months notice to the borrower, will
refinance some of Mountleigh's existing debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14968" NEWID="9449">
<DATE>25-MAR-1987 13:15:01.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1817&#31;reute
r f BC-SOUTHWEST-FOREST-&lt;SWF   03-25 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHWEST FOREST &lt;SWF> SETTLES STRIKE</TITLE>
<DATELINE>    PHOENIX, Ariz., March 25 - </DATELINE><BODY>Southwest Forest Industries said
union workers at its Snowflake, Ariz., pulp and paper mill
ratified a new three-year contract, ending a strike that halted
production at the facility on March 17.
    The new contract with the United Paperworkers International
and International Brotherhood of Electrical workers provides
for a wage and benefit increase of about three pct over three
years and increased employee contributions to health care
premiums, Southwest said.
    The mill, which has an annual capacity of some 282,000 tons
of newsprint and 159,000 tons of linerboard, is scheduled to
resume production on March 26, the company also said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14969" NEWID="9450">
<DATE>25-MAR-1987 13:15:19.86</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1818&#31;reute
u f BC-COCOA-TALKS-ON-BUFFER   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>COCOA TALKS SLOW AT CRUCIAL STAGE - DELEGATES</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>International Cocoa Organization (ICCO)
talks on buffer stock rules have slowed during a crucial phase
of negotiations, delegates said, but they remained confident
about prospects for reaching agreement by Friday.
    Cocoa producers, European Community (EC) consumers and all
consumers separately reviewed technical details of a buffer
stock rules package distributed yesterday.
    The buffer stock working group of consumers and producers
was set to meet later today to debate the proposal jointly for
the first time, they said.
    Delegates said major sticking points were likely to be the
amount of non-member cocoa allowed to be bought for the buffer
stock, and the fixed price differentials at which different
origin cocoas will be offered to the buffer stock manager.
    Producers would prefer that non-member cocoa not be
included in the buffer stock because, if it is, countries such
as Malaysia benefit from the cocoa agreement without joining
it, the delegates said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14970" NEWID="9451">
<DATE>25-MAR-1987 13:16:05.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1821&#31;reute
r f BC-MACK-TRUCKS-&lt;MACK>-DE   03-25 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>MACK TRUCKS &lt;MACK> DEBT AFFIRMED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed Mack Trucks Inc's 40 mln dlrs of BB-plus senior debt.
    The agency cited expectations that Mack's profitability
will improve over the marginal levels of last year. S and P
noted that extensive cost-cutting programs are under way at
Mack, including the relocation of truck assembly operations to
a new plant in South Carolina from Allentown, Pa.
    S and P said that with an improved cost structure, Mack can
compete more vigorously for market share without reverting to a
loss position. In addition, cash flow from operations should
benefit from planned working capital reductions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14971" NEWID="9452">
<DATE>25-MAR-1987 13:20:00.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1827&#31;reute
u f BC-EURATOM-ECU-BOND-MARK   03-25 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>EURATOM ECU BOND MARKS ROME TREATY ANNIVERSARY</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Euratom is issuing a 145 mln ECU
eurobond due April 24, 1997, paying 7-3/8 pct and priced at
101-1/8 pct, lead manager Banque Paribas Capital Markets said.
    The bond will be available in denominations of 1,000 and
10,000 ECU and will be listed in Luxembourg.
    Fees comprise 1-3/8 selling concession and 5/8 pct
management and underwriting combined.
    A Paribas official said Euratom had timed the issue to
coincide with the 30th anniversary of the Treaty of Rome.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14972" NEWID="9453">
<DATE>25-MAR-1987 13:24:53.16</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1841&#31;reute
r f BC-NEWMONT-GOLD-&lt;NGC>-SE   03-25 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWMONT GOLD &lt;NGC> SEES GOLD SALES RISING</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Newmont Gold Corp expects gold sales
in 1987 to rise about 22 pct to 577,000 ounces from 1986's
474,000 ounces, the company said in its annual report.
    Newmont Gold, 95 pct owned by Newmont Mining Corp &lt;NEM>,
said it expects significant increases in gold sales in 1988 and
1989 as well.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14973" NEWID="9454">
<DATE>25-MAR-1987 13:26:07.52</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1843&#31;reute
u f BC-MESSIDOR-TO-MERGE-WIT   03-25 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>MESSIDOR TO MERGE WITH TRITON BELEGGINGEN</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Messidor Ltd said it signed a letter
of intent to acquire 100 pct of the outstanding shares of
Triton Beleggineng Nederland B.V., a European investment
portfolio management company.
    If approved, two mln shares of stock held by the Messidor
Ltd officers and directors would be issued to Triton
shareholders.
    Triton will become a subsidiary of Messidor, it said.
    If approved, the president of Triton, Hendrik Bokma, will
be nominated as chairman of the combined company.
    There are about 1.5 mln Messidor units issued to the public
consisting of one share of common stock, four Class A common
stock warrants, four class B common stock warrants and four
class C common stock warrants.
    In addition there are four mln restricted shares
outstanding.
    Messidor said the acquisition is expected to be completed
by June three.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14974" NEWID="9455">
<DATE>25-MAR-1987 13:26:34.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1844&#31;reute
r f BC-IMMUNOGENETICS-&lt;IGEN>   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>IMMUNOGENETICS &lt;IGEN> TO ENTER LIPOSOME FIELD</TITLE>
<DATELINE>    VINELAND, N.J., March 25 -  </DATELINE><BODY>ImmunoGenetics Inc said it has
entered the liposome technology field through its majority
owned subsidiary, Molecular Packaging Systems Inc.
    Liposomes are small sacks of lipid, or fat, membranes
arranged in layers like an onion. These sacks can carry a
variety of agents that are released over a period of time into
the body as the onion-like layers break down.
    It said Molecular has developed a versatile low-cost method
for encapsulating a broad range of health care and industrial
products, including human hemoglobin which transports oxygen in
the blood.
    Immunogenetics also said Molecular's liposomes, called
Micropak, can carry more than five times the amount of
particles than conventional liposomes.
    The company also said its technology for encapsulating
hemoglobin may prove helpful in preventing the spread of
hepatitis and the AIDS virus in blood transfusions as all
viruses and foreign agents are moved during preparation of the
hemogloblin.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14975" NEWID="9456">
<DATE>25-MAR-1987 13:26:59.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1847&#31;reute
b f BC-SMITH-BARNEY-ANALYST   03-25 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SMITH BARNEY ANALYST CUTS HERCULES &lt;HPC> RATING</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Smith Barney, Harris Upham and Co
analyst James Wilbur removed Hercules Inc from the firm's
recommended list, citing the firm's moves into the aerospace
business, traders said.
    Hercules fell 2-1/4 to 59-1/4 on 595,000 shares. Wilbur was
not immediately available for comment.
    Sources said Wilbur believes Hercules will be successful in
its diversification, but he told clients the stock market is
more receptive now to chemical companies than aerospace
companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14976" NEWID="9457">
<DATE>25-MAR-1987 13:27:47.68</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1852&#31;reute
f f BC-******S/P-UPGRADES-CO   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P UPGRADES CONSUMERS POWER'S SENIOR AND SUBORDINATED DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14977" NEWID="9458">
<DATE>25-MAR-1987 13:28:27.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1854&#31;reute
u f BC-NAVISTAR-&lt;NAV>-SEES-H   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>NAVISTAR &lt;NAV> SEES HIGHER CAPITAL SPENDING</TITLE>
<DATELINE>    CHICAGO, March 25 - </DATELINE><BODY>Navistar International Corp expects its
fiscal 1987 capital spending to rise to 100 mln dlrs, up from
74 mln dlrs a year ago, Chairman-elect James Cotting told
reporters after the annual meeting.
    Cotting said much of the spending will go toward
modernization of the company''s painting operations at its
Springfield, Ohio truck assembly plant. The balance will be
used to increase productivity at its various facilities.
    In answer to a question, Neil Springer, who on April 1
becomes chairman of the company's new truck and engine holding
company, Navistar International Transportation Corp, said the
company's goal is to reduce costs 25 pct by 1990.
    Noting that purchased material now accounts for 81 pct of
its cost of production, Springer said Navistar intends to enter
similar relationships to one it has with Dana Corp &lt;CDN>, in
which the two companies are coordinating design, manufacture,
distribution and service of components to cut costs.
    Springer said because of overcapacity in some sectors,
price discounting will continue to plague the truck
manufacturing industry.
    He said the heavy truck industry is operating at 65 pct of
capacity, up 10 pct from a year ago with medium truck operating
at 73 pct of capacity, about level with a year ago.
    Springer said Navistar itself is operating at "over 70 pct
of capacity" in heavy trucks and at more than 90 pct in medium
trucks.
    Asked when Navistar would begin making acquisitions,
Springer said "We're ready now, but we have no specific
timetable."
    Earlier, at the annual meeting, stockholders gave a
standing ovation to retiring Chairman Donald Lennox, who during
an eight-year tenure was cited for redirecting the company
toward profitability. Lennox told reporters he was assuming
chairmanship of privately held Schlegel Corp, Rochester, N.Y.
He said he hoped to take the 100-year-old manufacturer with 300
mln dlrs in sales public within two years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14978" NEWID="9459">
<DATE>25-MAR-1987 13:29:26.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1856&#31;reute
d f BC-MOHAWK-DATA-&lt;MDS>-AFF   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>MOHAWK DATA &lt;MDS> AFFILIATE IN SERVICE DEAL</TITLE>
<DATELINE>    HERKIMER, N.Y., March 25 - </DATELINE><BODY>Mohawk Data Sciences Corp's
Momentum Technologies Inc affiliate said it has signed an
agreement to provide support and service for all Fivestar
Electronics Inc branded products nationwide.
    Value was not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14979" NEWID="9460">
<DATE>25-MAR-1987 13:31:39.26</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;f1860&#31;reute
b f BC-CONSUMERS-POWER-&lt;CMS>   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSUMERS POWER &lt;CMS> DEBT RAISED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Standard and Poor's Corp said it
raised Consumers Power's senior debt to BBB-minus from BB-plus
and its subordinated debt to BB-plus from BB-minus.
    The rating agency also affirmed Consumers Power's BB-minus
preferred stock and B-rated preference stock. The utility has
about 3.3 billion dlrs of debt outstanding.
    S and P cited rate relief stabilization in 1985, bank debt
restructuring and the implementation of cash conservation
measures.
    Plans to retire or refinance high-cost debt should improve
the company's credit quality, S and P added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14980" NEWID="9461">
<DATE>25-MAR-1987 13:32:00.80</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1863&#31;reute
b f BC-encor   03-25 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ENCOR ENERGY CORP PLANS 125 MLN DLR DEBENTURE OFFER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14981" NEWID="9462">
<DATE>25-MAR-1987 13:32:52.76</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;f1867&#31;reute
r f BC-PACIFIC-GAS-&lt;PCG>-SEE   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC GAS &lt;PCG> SEEKS PURCHASE RULE CHANGE</TITLE>
<DATELINE>    SAN FRANCISCO, March 25 - </DATELINE><BODY>Pacific Gas and Electric Co said
it will ask the Federal Energy Regulatory Commission to change
federal regulations requiring the utility to buy electricity
from unregulated private producers.
    Prices paid for this power under long term contracts signed
before last year's fall in world oil prices now are more than
twice as high as the actual value of the electricity, Pacific
Gas said.
    Under the 1978 Public Utility Regulatory Policies Act
utilities are required to buy electricity from cogeneration
facilities, which produce both steam and electricity.
    Since 1980, Pacific Gas has signed power purchase
agreements, required by the law, with long-term price
guarantees for more than 8,480 megawatts of capacity from
private producers, the company said.
    About 1,870 MW of that capacity is already on line, and
accounted for about eight pct of the company's total energy
sales in 1986, Pacific Gas said.
    The company said it will ask FERC to amend the rules
requiring purchase of this power so that the price paid for the
electricity reflects current market values, and that utilities
be required to buy only electricity needed in the near term.
    Contracts with cogeneration and other small power projects
could cost Pacific Gas' consumers as much as 857 mln dlrs
annually by 1990, the company said.
    The 857 mln dlrs represents the difference between what
Pacific Gas would pay for power from private producers and the
cost to the company to produce the power on its own or buy it
elsewhere, Pacific Gas said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14982" NEWID="9463">
<DATE>25-MAR-1987 13:33:28.90</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1872&#31;reute
f f BC-encorenergy   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ENCOR ENERGY CORP INC YR NET LOSS 406.6 MLN VS PROFIT 35.4 MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14983" NEWID="9464">
<DATE>25-MAR-1987 13:35:07.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1883&#31;reute
r f BC-BRAZIL-PLANS-NEW-ECON   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL PLANS NEW ECONOMIC STRATEGY FOR GROWTH</TITLE>
<DATELINE>    BRASILIA, March 25 - </DATELINE><BODY>Brazil is preparing a new economic
strategy intended to protect domestic growth, Finance Ministry
sources said.
    A presidential spokesman said President Jose Sarney had
authorised the government's economic team to prepare the new
plan as soon as possible.
    Finance Minister Dilson Funaro said last night the plan
would reflect "an important battle to protect the country's
development and keep it from recession."
    Funaro, who helped lead the anti-inflation Cruzado Plan
launched in February 1986, has come under increasing attack
over the past few days following the resignation of Planning
Minister Joao Sayad on March 17. Observers say the plan has
failed to stabilise the country's economy.
    Sayad submitted a new package calling for a 90-day prices
and a wage freeze, but met opposition from Sarney and Funaro.
    Foreign Ministry sources said the new strategy was being
prepared by economists Persio Arida and Andre Lara Resende,
both former Central Bank officials said to have played leading
roles in the Cruzado Plan.
   The new plan will define the terms on which Brazil will seek
rescheduling of its 109 billion dlr foreign debt.
    On February 20, Brazil suspended servicing of 70 billion
dlrs of debt to private foreign banks.
    Funaro said last night Brazil wants a rescheduling program
spread over four years, and added that it had to include new
loans to keep the domestic economy growing.
    "In the past two years Brazil paid 24 billion dlrs in
servicing of its foreign debt, while only getting two billion
dlrs in new loans," Funaro said.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14984" NEWID="9465">
<DATE>25-MAR-1987 13:35:16.64</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1884&#31;reute
u f BC-MIDDLE-SOUTH-&lt;MSU>-TO   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDDLE SOUTH &lt;MSU> TO FORM NEW DIVIDEND POLICY</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Middle South Utilities Inc is taking a
conversative approach to formulating a new common stock
dividend policy, chairman Edwin Lupberger said.
    He told securities analysts that when the company's common
dividend is resumed, "the initial rate will appear conservative
to you by industry standards and in relation MSU's net income
and cash flow."
    "Our progress will determine how soon we can reinstate a
dividend to our common stockholders, he said."
    The company last paid a common dividend of 44.5 cts a share
in July 1985.
    Lupberger told the analysts that the company's primary
objective is "to create financial strength, enough strength so
that what happened to us and our stockholders over the past
couple of years never happens again."
    The company has faced regulatory challenges to rates
proposed to cover the cost of its Grand Gulf nuclear plant.
    He said Middle South's net income is expected to post
"modest growth" over the next three years.
    In 1986, the company earned 451.3 mln dlrs or 2.21 dlrs a
share on revenues of 3.49 billion dlrs.
    Lupberger said, "A good portion of the improvement
projected for the next three years comes from keeping the lid
on operating and maintenance expenses."
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14985" NEWID="9466">
<DATE>25-MAR-1987 13:35:52.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1886&#31;reute
u f BC-UK-POLL-SHOWS-SURGE-F   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>UK POLL SHOWS SURGE FOR CENTRIST ALLIANCE PARTIES</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>A British voter opinion poll in
tomorrow's Today newspaper shows a surge in support for the
centrist Alliance grouping and a fall for both the ruling
Conservatives and the Labour opposition party.
    The Marplan poll gives the Conservatives 36 pct, the
Liberal/Social Democratic Alliance 31 pct, and Labour 31 pct as
well. A Marplan survey last month gave the Tories 38 pct, the
Alliance 21 pct, and Labour 37 pct.
    The latest poll would, if translated into an election
result, produce a hung parliament, analysts said. That should
dampen speculation of an early June election, they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14986" NEWID="9467">
<DATE>25-MAR-1987 13:36:48.64</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;f1889&#31;reute
r f BC-EMERSON-RADIO-&lt;EME>-S   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>EMERSON RADIO &lt;EME> SELLS DEBT PRIVATELY</TITLE>
<DATELINE>    NORTH BERGERN, N.J., March 25 - </DATELINE><BODY>Emerson Radio Corp said it
has sold 33 mln dlrs of 8-3/8 pct senior notes due 1997 to
institutional investors.
    The company said prepayment provisions will make the
average life about seven years.  It said funds will be used to
help finance growth.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14987" NEWID="9468">
<DATE>25-MAR-1987 13:37:52.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1891&#31;reute
r f BC-SOLAR-SYSTEMS-SUN-DAN   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>SOLAR SYSTEMS SUN DANCE &lt;SSDN> EXTENDS WARRANTS</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Solar Systems by Sun Dance said its board
has extended the date until which its 1986 warrants and
redeemable warrants may be exercised at 50 cts each to April 30
from March 31.
    It said it plans no further extension.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14988" NEWID="9469">
<DATE>25-MAR-1987 13:40:32.56</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1898&#31;reute
f f BC-******TWA-SOLD-FOUR-M   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TWA SOLD FOUR MLN SHARES OF USAIR BELIEVED TO INSTITUTIONS, WALL STREET SOURCES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14989" NEWID="9470">
<DATE>25-MAR-1987 13:41:36.38</DATE>
<TOPICS><D>sugar</D><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1902&#31;reute
d f BC-U.S.-SUGAR-POLICY-MAY   03-25 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SUGAR POLICY MAY SELF-DESTRUCT, CONGRESSMAN</TITLE>
<AUTHOR>    By Greg McCune, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>A leading U.S. farm-state
Congressman, Jerry Huckaby, D-La., warned he will press next
year for legislation to control domestic production of
sweeteners, perhaps including corn sweeteners, if the industry
fails to voluntarily halt output increases this year.
    "We're moving toward a direction where we could
self-destruct (the U.S. sugar program)," Rep. Huckaby, chairman
of the House agriculture subcommittee dealing with sugar
issues, told Reuters in an interview.
    Huckaby, who told U.S. sugarbeet growers earlier this year
they must halt production increases, said he will deliver the
same message to Louisiana sugarcane growers Friday. He also
said he will soon talk with corn refiners on the subject.
    Huckaby said the campaign to urge a halt to domestic
sweetener output increases is an effort to forestall further
cuts in the sugar import quota, now at one mln short tons.
    "I think if we're talking about dropping (the quota)
another half mln tons, lets say, you're getting to the point
where the program might not work," he said.
    "Ideally, I'd like to freeze things right where we are,"
said Huckaby, leading advocate for sugar growers in Congress.
    A freeze would mean domestic sugar production at about the
current level of 6.5 mln tons, the corn sweetener share of the
U.S. market staying at just over 50 pct, and U.S sugar imports
holding at about 1.2 mln tons, Huckaby said.
    A decision on whether to seek legislation will not be made
until 1987 output numbers are known late this year, he said.
    "I feel like if we didn't expand production, we could
probably hold where we are indefinitely, or at least through
the 1985 farm bill without any changes (in the sugar program),"
Huckaby said.
    However, much depends on whether high-fructose corn syrup
producers continue to expand their share of the U.S. sweetener
market from just over 50 pct, Huckaby said.
    He noted most estimates are that corn sweeteners will
capture at most only another 10 pct of the sweetener market in
the U.S.
    But he said if there were an economic breakthrough in the
production of a new crystalline corn sweetener which further
expanded the corn sweetener share, then U.S. sugar imports
might be eliminated and U.S. sugar output severely reduced.
    Huckaby said he will deliver this message to corn refiner
companies such as A.E. Staley and Archer Daniels Midland soon.
    "This program is advantageous to the corn users. They have
some natural, legitimate self-interest in seeing that the
program is preserved," Huckaby said.
    Huckaby said he has asked sugar industry representatives to
think about how domestic output could be controlled, either
through production allocations, acreage or marketing controls.
    Huckaby also said he would be seeking guidance from the
Justice Department to determine if it would be legal to ask
corn refiners to limit production.
    "I don't know if we will go this route, but if we do
there's a question in my mind at this point in time; can you do
that legally?" he said.
    Asked if he would proceed with production controls without
the support of corn refiners, Huckaby said "You build a fragile
house if you do it that way."
    Huckaby said he understands why U.S. cane and beet farmers
have expanded production, because high sugar price support
means returns from sugar are higher than competing crops such
as soybeans and grain.
    But he said for sugar growers as a whole, expansion would
not be good policy.
    Huckaby said he has tried to stress, in his speeches to
sugar industry groups, that if growers continue to expand, they
may be penalized retroactively under any production control
legislation passed next year.
    Huckaby said Congress is unlikely to approve any changes in
the sugar program this year despite a Reagan administration
proposal to drastically slash the program.
    "The administration proposal is so drastic, that I don't
think it will get up a head of steam," Huckaby said.
    He said even a more moderate proposal to reduce sugar price
support is unlikely to be approved.
    Instead of seeking to slash the domestic sugar program,
Huckaby said the Reagan administration should file a complaint
with the General Agreement on Tariffs and Trade against the
European Community's sugar policy. He said EC policies are the
major cause of the depressed world sugar market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14990" NEWID="9471">
<DATE>25-MAR-1987 13:42:51.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1908&#31;reute
r f BC-FIAT-SAYS-IT-NOT-PLAN   03-25 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>FIAT SAYS IT NOT PLANNING TO ISSUE EUROBONDS</TITLE>
<DATELINE>    Turin, Italy, March 25  - </DATELINE><BODY>Fiat Spa &lt;FIAT.MI> said it had no
plans to issue Eurobonds linked to shares still held by banks
after the placement of the 15 pct Libyan stake in Fiat last
autumn, a company spokesman said.
   "An eventual issue of bonds convertible into Fiat shares is
not our responsibility," the spokesman told Reuters. "In case the
operation should be finalized, the bonds would be issued by
banks and not by Fiat, the spokesman said.
    The spokesman was commenting on West German press reports
that Fiat is considering a Eurobond issue of up to 384 mln
dlrs, convertible or with warrants attached for exercise into
its shares still held by the banks.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14991" NEWID="9472">
<DATE>25-MAR-1987 13:43:27.20</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1912&#31;reute
u f BC-INVESTORS-INCREASE-ST   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTORS INCREASE STAKE IN FROST, SULLIVAN</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>One of a pair of private investors
in Frost and Sullivan Inc told the Securities and Exchange
Commission he increased his stake in the firm by about two pct,
to 15.4 pct.
    He is Theodore Cross, Princeton, N.J., editor of Business
and Society Review.
    The other investor is Mason Slaine, Cos Cob, Mass,
president of Dealers' Digest Inc.  He holds a 3.3 pct stake.
    Cross told the SEC he bought the new shares at between 7.75
and 8.0 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14992" NEWID="9473">
<DATE>25-MAR-1987 13:44:12.73</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>liberia</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1918&#31;reute
d f BC-LIBERIAN-ORE-CARRIER   03-25 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBERIAN ORE CARRIER IN COLLISION IN RIVER ELBE</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>The Liberian motor bulk carrier, Trave
Ore, 106,490 dwt, loaded with ore, and the 2,852 dwt West
German motor vessel Christa, collided late last night on the
River Elbe near buoy 129, Lloyds Shipping Intelligence said.
    The Trave Ore proceeded by its own means to Hamburg. The
Christa was taken in tow with a damaged bow.
    The Liberian vessel was concluding a trip from Seven
Islands to Hamburg.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14993" NEWID="9474">
<DATE>25-MAR-1987 13:45:04.50</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;f1924&#31;reute
r f BC-AIM-TELEPHONES-&lt;AIMT>   03-25 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>AIM TELEPHONES &lt;AIMT> SELLS DEBT TO SHAREHOLDER</TITLE>
<DATELINE>    FAIRFIELD, N.J., March 25 - </DATELINE><BODY>AIM Telephones Inc said it has
sold three mln dlrs of nine pct seven-year subordinated notes
to principal shareholder &lt;Quince Associates>.
    The company said it has also issued Quince seven-year
warrants to buy 500,000 common shares at six dlrs each.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14994" NEWID="9475">
<DATE>25-MAR-1987 13:45:33.88</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1927&#31;reute
d f BC-HERSHEY-OIL-CORP-&lt;HSO   03-25 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>HERSHEY OIL CORP &lt;HSO> 4TH QTR LOSS</TITLE>
<DATELINE>    PASADENA, Calif., March 25 -
    </DATELINE><BODY>Shr loss 19 cts vs loss 2.37 dlrs
    Net loss 1,140,000 vs loss 13,608,000
    Revs 1,069,000 vs 1,940,000
    Year
    Shr loss 53 cts vs loss 2.34 dlrs
    Net loss 3,012,000 vs loss 13,433,000
    Revs 4,945,000 vs 6,705,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14995" NEWID="9476">
<DATE>25-MAR-1987 13:45:40.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1928&#31;reute
d f BC-&lt;VISTA-MANAGEMENT-INC   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;VISTA MANAGEMENT INC> GETS BOND GUARANTEES</TITLE>
<DATELINE>    HIALEAH, Fla., March 25 - </DATELINE><BODY>Vista Managemement Inc said it
has obtained notice of the availability of insurance guarantees
on 60 mln dlrs of leasing receivable bonds of its CBS Leasing
subsidiary from Developers Insurance Co, allowing the bonds to
be rated by leading credit rating agencies.
    The company said the guarantees are subject to the
placement of over one mln dlrs of reinsurance and to a pending
change of control of Developers Insurance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14996" NEWID="9477">
<DATE>25-MAR-1987 13:45:52.97</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1930&#31;reute
s f BC-EG-AND-G-INC-&lt;EGG>-SE   03-25 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>EG AND G INC &lt;EGG> SETS QUARTERLY</TITLE>
<DATELINE>    WELLESLEY, Mass., March 25 -
    </DATELINE><BODY>Qtly div 14 cts vs 14 cts prior
    Pay May Eight
    Record April 17
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14997" NEWID="9478">
<DATE>25-MAR-1987 13:46:09.17</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;f1931&#31;reute
r f BC-&lt;ENCOR-ENERGY-CORP-IN   03-25 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ENCOR ENERGY CORP INC> YEAR LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, March 25 - 
    </DATELINE><BODY>Shr not given
    Net loss 406.6 mln vs profit 35.4 mln
    Revs 138.1 mln vs 211.9 mln
    Note: 1986 net includes 545.7 mln dlr asset writedown
before 139.2 mln dlr recovery of deferred taxes.
    48 pct-owned by Dome Petroleum Ltd &lt;DMP>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14998" NEWID="9479">
<DATE>25-MAR-1987 13:46:29.95</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f1932&#31;reute
d f BC-BRAZILIAN-LABOUR-UNRE   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZILIAN LABOUR UNREST SPREADS, MANY BANKS SHUT</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SAO PAULO, March 25 - </DATELINE><BODY>Brazil's labour unrest is spreading,
with many banks, universities and government statistical
offices on strike and more pay disputes looming.
    Bankworkers' leaders said that a national strike launched
yesterday to press for a 100 pct immediate pay rise and monthly
salary adjustments had the support of most of the 700,000
workforce.
    The strike today closed the stock exchanges of Sao Paulo
and Rio de Janeiro.
    For the government the one positive development on the
labour front was the gradual return to work of the nation's
40,000 seamen, who began a national strike on February 27.
    A union spokesman in Rio de Janeiro told Reuters about half
the seamen had returned to work after accords with 22 companies
and that the strike looked close to an end.
    Otherwise the labour scene looked bleak, with the bank
strike posing the most serious problems for Brazil's
crisis-laden economy.
    "If this goes on for more than a few days it will have a
serious effect because normal financial operations will grind
to a halt," said a western diplomat in Sao Paulo.
    Today Brazil's 50,000 university teachers in the 42 federal
universities launched a national strike, with a broad political
demand as well as a pay claim.
    David Fleischer, head of the political science department
in Brasilia university, told Reuters the National Association
of Higher Education Teachers wanted a full congressional
inquiry into what had happened to government education funds.
    He said the universities were strapped for cash and that
the association suspected the junior partner in the coalition
government, the Liberal Front Party, PFL, of using education
funds for projects which had helped their candidates in
elections. The PFL holds the Education Ministry.
    Hardly any sectors of the economy are proving immune to the
current labour unrest, caused by the return of high inflation,
officially pegged at 33 pct for January-February.
    Other possible strikes looming include stoppages by oil
industry workers and social security workers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14999" NEWID="9480">
<DATE>25-MAR-1987 13:47:39.57</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;f1935&#31;reute
r f BC-OAK-INDUSTRIES-&lt;OAK>   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>OAK INDUSTRIES &lt;OAK> SETS DEBT EXCHANGE OFFER</TITLE>
<DATELINE>    SAN DIEGO, Calif., March 25 - </DATELINE><BODY>Oak Industries said it will
commence an exhcange offer for any or all of certain of its
debentures and notes.
    It said it is offering to exchange 660 shares of common
stock for each 1,000-dlr principal amount of its 4,139,000 dlrs
of outstanding 11-5/8 pct notes due September 15, 1990.
    It will also exchange 698 shares of common for each
1,000-dlr principal amount of 5,557,000 dlrs of outstanding
13-1/2 pct senior notes due May 15, 1990 and 612 common shares
for each 1000 dlrs of its 12,788,000 dlrs in 9-5/8 pct
convertible notes due September 15, 1991.
    The company said it is also offering 678 common shares for
each 1,000 dlrs of its 753,000 dlrs of outstanding 11-7/8 pct
subordinated debentures due May 15, 1998 and 595 common shares
for each 1,000 dlrs principal amount of its 6,572,000 dlrs of
10-1/2 pct convertible subordinated debentures due Feb 1, 2002.
    Oak said it will not make any cash payments to the
tendering holders.
    It said the common stock amounts have taken into account
accrued interest on the notes and debentures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15001" NEWID="9481">
<DATE>25-MAR-1987 13:49:32.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1942&#31;reute
r f BC-COLLINS-FOODS-&lt;CF>-TO   03-25 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>COLLINS FOODS &lt;CF> TO REDEEM DEBENTURES</TITLE>
<DATELINE>    LOS ANGELES, March 25 - </DATELINE><BODY>Collins Foods International Inc
said that on April 30 it will redeem all of its outstanding 12
pct subordinated debentures due December 15, 2008.
    There are currently 30 mln dlrs principal amount of the
debentures outstanding, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15002" NEWID="9482">
<DATE>25-MAR-1987 13:49:40.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1943&#31;reute
b f BC-ANDREOTTI-DROPS-COALI   03-25 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>ANDREOTTI DROPS COALITION BID</TITLE>
<DATELINE>    ROME, March 25 - </DATELINE><BODY>Veteran politician Giulio Andreotti
abandoned his attempts to form a government, putting Italy on
course for early elections, political sources said.
    Christian Democrat Andreotti told President Francesco
Cossiga he was unable to reconstruct the five-party coalition
after two weeks of negotiations, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15003" NEWID="9483">
<DATE>25-MAR-1987 13:51:41.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1949&#31;reute
d f BC-TEAM-&lt;TMI>-TO-UNVEIL   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>TEAM &lt;TMI> TO UNVEIL NEW EQUIPMENT IN MAY</TITLE>
<DATELINE>    HOUSTON, March 25 - </DATELINE><BODY>Team Inc said it will introduce a line
of repair products for electrical distribution and transmission
equipment for the utility industry in May.
    The new products include a transformer repair service which
will seal oil leaks in transformers. Other products include a
new licensed repair method of electrical porcelain, and a newly
developed concrete repair service.
    Team said it expects to continue to sell equipment and
attempt to reduce losses to generate positive cash flow.
Earlier, Team reported third quarter net income of 91,000 dlrs
on sales of 11.5 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15004" NEWID="9484">
<DATE>25-MAR-1987 13:52:46.65</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1955&#31;reute
d f BC-&lt;ASTA-GROUP-INC>-UNIT   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ASTA GROUP INC> UNIT IN LOAN PURCHASE</TITLE>
<DATELINE>    YONKERS, N.Y., March 25 - </DATELINE><BODY>Asta Group Inc said its 50 pct
owned Liberty Service Corp affiliate has purchased about 50 mln
dlrs face value of credit card installment receivables from a
major financial institution it did not name for a significant
discount from face value.
    It said the portfolio consists mostly of charged off loans.
    The company also said it expects to realize a profit of
about 300,000 dlrs on its 25 pct interest in the Briarcliff
Manor condominium project in New York, with about 140,000 dlrs
of the profit being reflected in the year ending September 30.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15005" NEWID="9485">
<DATE>25-MAR-1987 13:53:08.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F RM
&#22;&#22;&#1;f1956&#31;reute
u f BC-ENCOR-PLANS-125-MLN-D   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ENCOR PLANS 125 MLN DLR DEBENTURE OFFERING</TITLE>
<DATELINE>    CALGARY, Alberta, March 25 - </DATELINE><BODY>&lt;Encor Energy Corp Inc> said
it planned an issue in Canada of 125 mln dlrs of 6.75 pct
subordinated debentures, convertible any time into Encor common
shares for a price of 10 dlrs a share.
    Encor, 48 pct-owned by Dome Petroleum Ltd &lt;DMP>, said
investment dealers McLeod Young Weir Ltd and Pemberton Houston
Willoughby Bell Gouinlock Inc agreed to purchase the issue for
resale to the public.
    It said the debentures would pay interest semi-annually and
be callable after five years at par plus accrued interest.
    Encor earlier reported a 1986 net loss of 406.6 mln dlrs.
    Encor last year earned 35.4 mln dlrs. The 1986 net loss
included a 545.7 mln dlr asset writedown before a 139.2 mln dlr
recovery of deferred taxes.
    The company said 1986 results were seriously affected by
lower oil and gas prices, but did not reflect its recent
acquisition of &lt;Aberford Resources Ltd>.
    It said that while oil prices had improved in early 1987,
it would remain cautious and base capital spending on
conservative price assumptions.
    Encor will use proceeds from the debenture offer to retire
bank debt incurred in the Aberford deal, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15006" NEWID="9486">
<DATE>25-MAR-1987 13:53:17.08</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1957&#31;reute
h f BC-ARDEN-INTERNATIONAL-&lt;   03-25 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>ARDEN INTERNATIONAL &lt;AIKI> 4TH QTR DEC 27 NET</TITLE>
<DATELINE>    LARKVILLE, MINN., March 25 -
    </DATELINE><BODY>Oper shr one ct vs two cts
    Oper net 30,000 vs 62,000
    Revs 2,315,000 vs 2,355,000
    Year
    Oper shr four cts vs nine cts
    Oper net 95,000 vs 204,000
    Revs 9,214,000 vs 9,950,000
    Avg shrs 2,492,000 vs 2,351,000
    NOTE: Full name is Arden International Kitchens Inc
 More
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15008" NEWID="9487">
<DATE>25-MAR-1987 13:54:13.08</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;f1959&#31;reute
b f BC-TWA-&lt;TWA>-SELLS-POSIT   03-25 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>TWA &lt;TWA> SELLS POSITION IN USAIR &lt;U></TITLE>
<DATELINE>    New York, March 25 - </DATELINE><BODY>Trans World Airlines Inc sold four mln
shares it held in USAir Group Inc, Wall Street sources said.
The sources said the buyers are believed to be a group of
institutions.
    Bear Stearns handled the trade. It crossed the four mln
shares at 45, off 1/8. Bear Stearns would not comment on buyers
or sellers.
    USAir and TWA had no immediate comment.
    USAir later said it did not buy the stock. A company
spokesman would not comment further.
    TWA earlier this month reported holding slightly more than
four mln shares, or about 15 pct of USAir. It had also proposed
a takeover of USAir, which at the time was negotiating its
proposed merger with Piedmont Aviation Inc.
    On March 16, TWA withdrew its bid, saying it did not intend
to seek control of USAir Group or to acquire more of its stock
at the time.
    TWA also said in the filing with the Securities and
Exchange Commission that its chairman, Carl Icahn is the target
of an SEC probe of alleged violations of securities laws.
    In its filings with the SEC, TWA said it paid 178.2 mln
dlrs for its USAir stock.
    "With this out of the way, if it indeed was bought by
institutions, it paves the way for better value for USAir stock
later," said Janney Montgomery analyst Louis Marckesano of
TWA's sale of its stock.
    "Technically, as long as that block was overhanging the
market you didn't know what was going to happen," he said.
    USAir stock was trading at 44-3/8, off 3/4 on volume of 4.4
mln shares. TWA stock rose one to 28-1/4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15009" NEWID="9488">
<DATE>25-MAR-1987 13:55:38.61</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1961&#31;reute
u f BC-COMBUSTION-ENGINEERIN   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>COMBUSTION ENGINEERING&lt;CSP> SEES 1ST QTR NET OFF</TITLE>
<DATELINE>    STAMFORD, Conn., March 25 - </DATELINE><BODY>Combustion Engineering Inc said
it expects first quarter earnings to be 20 to 25 pct below the
year-ago 13.6 mln dlrs, mainly due to financing costs resulting
from the January 1987 acquisition of AccuRay Corp.
    The company said it has filed for an offering of four mln
common shares and 150 mln dlrs of subordinated debentures due
2017, with proceeds to be used to refinance the short-term bank
debt incurred for the AccuRay acquisition, to finance other
costs of the transaction and for general corporate purposes.
    Combustion said 3,500,000 shares will be sold in the U.S.
and the remainder overseas.
    Combustion paid about 218 mln dlrs for AccuRay, a maker of
computer-based measurement and control systems used in pulp and
paper mills.
    The company said it expects to release first quarter
results in the third week in April.
    Combustion said it expects further restructuring of core
businesses -- particularly Lummus Crest -- this year through
staff reductions downsizings and the consolidation of
facilities.
    Combustion said the restructuring at Lummus Crest is
expected to substantially reduce but not eliminate this year
losses in the Engineering and Construction segment.
    But it said improvement at Lummus Crest is expected to be
approximately offset by a number of factors, including a
somewhat lower level of earnings in the Power Generation
segment than in 1986, financing costs of the AccuRay
acquisition, costs associated with integrating AccuRay
technology and operations and delays in waste to energy
projects.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15010" NEWID="9489">
<DATE>25-MAR-1987 13:55:43.43</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1962&#31;reute
u f BC-/NEWMONT-GOLD-SEES-IT   03-25 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWMONT GOLD SEES ITS SALES RISING 22 PCT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Newmont Gold Corp expects gold sales
in 1987 to rise about 22 pct to 577,000 ounces from 1986's
474,000 ounces, the company said in its annual report.
    Newmont Gold, 95 pct owned by Newmont Mining Corp, said it
expects significant increases in gold sales in 1988 and 1989 as
well.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15011" NEWID="9490">
<DATE>25-MAR-1987 13:56:21.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1964&#31;reute
u f BC-TALKING-POINT/TOBACCO   03-25 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKING POINT/TOBACCO STOCKS</TITLE>
<AUTHOR>    By Gary Seidman, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Stocks of tobacco companies rose
sharply as investors grew more confident that an excise tax
would not be imposed on tobacco, traders and analysts said.
    They also said the stocks are relatively inexpensive since
fear of the tax and of pending litigation regarding warning
labels for tobacco products have kept many investors away
recently.
    Philip Morris Cos &lt;MO> rose 2-5/8 to 87-3/4, RJR Nabisco
&lt;RJR> 1-1/4 to 57-1/2 and U.S. Tobacco &lt;UBO> 7/8 to 27.
    "The near-term activity of these stocks has been dominated
by external factors such as smoking restriction legislation,
concern over liability suits and the possible imposition of
excise taxes," Dean Witter analyst Lawrence Adelman said. "But
the feeling is that many of those externals have been
discounted in the price of the stocks."
    Adelman, who issued a positive recommendation on Philip
Morris earlier this week, said there have been indications that
the Reagan Administration's staunch opposition to tax hikes
would short-circuit attempts to tax tobacco.
    "The tobaccos do have more risks than regular consumer
stocks because of these external factors," Adelman said. "They
are not for the weak-hearted, but they offer a lot of value for
the aggressive investor."
    In a market where everyone is looking for affordable
stocks, trader Drew Schaefer of Kidder Peabody said, it is not
hard to understand why the tobaccos, which have been depressed
for a while in a positive market, are attracting buyers.
    Adelman believes one of the better buys is Philip Morris.
"It is a powerhouse of potential growth in earnings, dividends
and free cash flow. And the stock is cheap now," he said.
    Adelman expects Morris to earn eight dlrs a share this year
compared to 6.20 dlrs a share earned a year ago. In 1988, the
company should report a profit 10.30 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15012" NEWID="9491">
<DATE>25-MAR-1987 13:58:04.56</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;f1973&#31;reute
h f BC-ARDEN-INTERNATIONAL-&lt;   03-25 0074</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
ARDEN INTERNATIONAL &lt;AIKI> =2 LARKVILLE
    NOTE: 1985 period ended December 28
    Earnings exclude losses from discontinued operations of
30,000 dlrs, or one ct a share vs 71,000 dlrs, or three cts a
share for the year
    Earnings exclude gains from tax loss carryforwards of
13,000 dlrs, or one ct a share vs 45,000 dlrs, or two cts a
share in the quarter and 28,000 dlrs, or one ct a share vs
105,000 dlrs, or four cts a share for the year
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15013" NEWID="9492">
<DATE>25-MAR-1987 13:59:44.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1976&#31;reute
h f BC-MICRO-DISPLAY-&lt;MDSI>   03-25 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>MICRO DISPLAY &lt;MDSI> GETS EUROPEAN ORDERS</TITLE>
<DATELINE>    MINNEAPOLIS, March 25 - </DATELINE><BODY>Micro Display Systems Inc said it
has written orders exceeding 1.5 mln dlrs in the European
market for its full-page display computer monitor, The Genius.
    The company first began direct marketing The Genius to
Europe in mid-January.
    It forecast that more than 700,000 dlrs of the orders will
be shipped by the end of March, with the balance shipped within
the next three months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15014" NEWID="9493">
<DATE>25-MAR-1987 14:02:25.60</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1983&#31;reute
f f BC-******TREASURY'S-BAKE   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS EXCHANGE RATE CHANGES WILL REDUCE TRADE DEFICIT THIS YEAR
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15015" NEWID="9494">
<DATE>25-MAR-1987 14:02:51.81</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1985&#31;reute
f f BC-******TREASURY'S-BAKE   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS ECONOMIC COOPERATION PROCESS IS WORKING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15016" NEWID="9495">
<DATE>25-MAR-1987 14:03:52.91</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1993&#31;reute
f f BC-******TREASURY'S-BAKE   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS "THROWING MONEY" AT DEBTOR NATIONS WON'T WORK
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15017" NEWID="9496">
<DATE>25-MAR-1987 14:04:33.72</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;f1999&#31;reute
r f BC-UTAH-POWER-&lt;UTP>-PLAN   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>UTAH POWER &lt;UTP> PLANS TO REDEEM PREFERRED STOCK</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Utah Power and Light Co said it filed
an application with the Idaho Public Utilities Commission to
refinance preferred stock that was issued when interest rates
were higher.
    Subject to approval, the utility plans to sell nearly 95
mln dlrs of first mortgage bonds in the second quarter to
redeem all of its outstanding Series F, H and I preferred.
    It will buy back the Series F at 26.61 dlrs per share,
Series H at 27.03 dlrs and Series I at 27.32 dlrs, plus accrued
dividends. Similar applications will be filed with the Utah and
Wyoming public utility commissions, Utah Power said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15018" NEWID="9497">
<DATE>25-MAR-1987 14:04:50.47</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;f2001&#31;reute
h f BC-GATEWAY-SPORTING-BUYS   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>GATEWAY SPORTING BUYS INNOVATIVE DENTAL</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Gateway Sporting Goods Co said it
acquired all of the shares of stock of Innovative Dental
Services Inc for an undisclosed amount of cash.
    Gateway said the acquired company has contracts with 102
dentists in 144 locations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15019" NEWID="9498">
<DATE>25-MAR-1987 14:08:08.50</DATE>
<TOPICS><D>trade</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;f2008&#31;reute
b f BC-TREASURY'S-BAKER-SEES   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SEES CUT IN TRADE DEFICIT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
the administration is confident the effect of exchange rate
changes will bring about a cut in the trade deficit this year.
    In testimony before the Senate Committee on Governmental
Affairs, Baker conceded that the effect thus far has "not yet
proved as quick or as strong as had been expected from past
experience."
    He told the committee, however, that the "initial signs are
encouraging."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15020" NEWID="9499">
<DATE>25-MAR-1987 14:10:26.49</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2009&#31;reute
f f BC-******CYCLOPS-CORP-RE   03-25 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CYCLOPS CORP REFORMS BOARD AFTER DIXONS GROUP FAILS TO GET MAJORITY OF CYCLOPS STOCK
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15021" NEWID="9500">
<DATE>25-MAR-1987 14:10:48.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2010&#31;reute
d f BC-UK-TO-RETAIN-POWERS-A   03-25 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>UK TO RETAIN POWERS AGAINST U.S UNITARY TAXATION</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>Britain has decided to resist U.S.
pressure and retain powers to withdraw tax credits from U.S.
parent companies based in states which impose unitary taxes on
the worldwide profits of foreign-owned firms, Treasury
Financial Secretary Norman Lamont told Parliament.
    But he added that the eventual use of those powers would
not be backdated if activated before the end of 1988.
    The U.K. Government has consistently opposed the use of
unitary taxation of international business on grounds they are
contrary to internationally accepted principles, laid down by
the United Nations and the OECD, Treasury sources said.
    In a written parliamentary answer, Lamont said "in the
meantime, progress towards a final resolution of the unitary
tax issues will be kept under careful review" by Britain.
    "Should it be necessary to take action ... Before December
31, 1988, it will not apply to dividends paid before the date
of the announcement of such action. If it is necessary to take
action thereafter, it will not apply to dividends on or before
December 31, 1988," Lamont said.
    The Reagan Administratian published draft legislation late
in 1985 to limit states use of unitary taxation to the profits
made inside the U.S., Known as the "water's edge" method.
    In response to that draft legislation, Britain agreed to
defer initiating action under its Finance Act 1985 - but only
on the understanding that legislation to resolve the unitary
tax issue would be made law and take effect from end-December
1986.
    Then the U.S. Administration said in September 1986 that it
had decided not to pursue Federal legislation, in view of the
passing of legislation in California.
    Britain, however, considers the California legislation
unsatisfactory, not least because U.K. Business will have to
pay a fee for the right of not being assessed by the unitary
tax method, government sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15022" NEWID="9501">
<DATE>25-MAR-1987 14:11:30.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2011&#31;reute
b f BC-TREASURY'S-BAKER-SAYS   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SAYS ECONOMIC COOPERATION WORKS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
the meeting last month in Paris in which finance ministers
agreed to keep the dollar at current levels showed that the
economic cooperation process was working.
    He said that at that meeting the surplus countries
committed themselves to strengthening their growth prospects,
while the deficit countries agreed to reduce their domestic
imbalances.
    For its part, he said the United States must press forward
with reductions in the federal budget deficit and must continue
to oppose protectionist pressures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15023" NEWID="9502">
<DATE>25-MAR-1987 14:17:50.12</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;f2025&#31;reute
d f BC-PAN-ATLANTIC-RE-INC-&lt;   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>PAN ATLANTIC RE INC &lt;PNRE> 4TH QTR NET</TITLE>
<DATELINE>    WHITE PLAINS, N.Y., March 25 -
    </DATELINE><BODY>Oper shr 15 cts vs 1.07 dlrs
    Oper net 372,000 vs 2,601,000
    Year
    Oper shr 80 cts vs 61 cts
    Oper net 1,952,000 vs 1,491,000
    NOTE: Net excludes realized investment loss 13,000 dlrs vs
gain 986,000 dlrs in quarter and gains 1,047,000 dlrs vs
1,152,000 dlrs in year.
    1986 year net excludes tax credit 919,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15024" NEWID="9503">
<DATE>25-MAR-1987 14:18:46.42</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2028&#31;reute
s f BC-QUAKER-CHEMICAL-CORP   03-25 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>QUAKER CHEMICAL CORP &lt;QCHM> SETS QUARTERLY</TITLE>
<DATELINE>    CONSHOHOCKEN, Pa., March 25 -
    </DATELINE><BODY>Qtly div 12-1/2 cts vs 12-1/2 cts prior
    Pay April 30
    Record April 17
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15025" NEWID="9504">
<DATE>25-MAR-1987 14:19:23.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2029&#31;reute
r f BC-RAYTHEON-&lt;RTN>-DIRECT   03-25 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>RAYTHEON &lt;RTN> DIRECTOR RESIGNS</TITLE>
<DATELINE>    LEXINGTON, Mass., March 25 - </DATELINE><BODY>Raytheon Co said D. Brainerd
Holmes, who retired as Raytheon president in May 1986, has
resigned from the board effective April One.
    The company said Ferdinand Colloredo-Mansfield, chairman of
Cabot, Cabot and Forbes, will succeed Holmes on the board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15026" NEWID="9505">
<DATE>25-MAR-1987 14:23:00.30</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;f2033&#31;reute
r f BC-MIDDLE-SOUTH-&lt;MSU>-TO   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDDLE SOUTH &lt;MSU> TO CONSIDER DIVIDEND</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Middle South Utilities Inc will not
consider payment of a common stock dividend until there is
another ruling on a Mississippi Supreme Court order rolling
back rates at the company's Mississippi Power and Light Co
subsidiary, chairman Edwin Lupberger said.
    He told security analysts Middle South was close to
recommending resumption of the common stock dividend when the
Mississippi court ordered the rate rollback. Following the
order, he noted, the unit cancelled a planned sale of preferred
stock. Middle South has petitioned the court for a rehearing or
a stay of the order while it is being appealed.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15027" NEWID="9506">
<DATE>25-MAR-1987 14:23:46.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2034&#31;reute
u f BC-MONARCH-CAPITAL-&lt;MON>   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>MONARCH CAPITAL &lt;MON> CALLS PREFERRED</TITLE>
<DATELINE>    SPRINGFIELD, Mass., March 25 - </DATELINE><BODY>Monarch Capital corp said
its board has called its convertible preferred stock for
redemption on May Eight.
    The company said shareholders may exchange the preferred
shares for shares of new nonconvertible preferred stock with a
dividend of five dlrs to 6.40 dlrs per share, convert them into
common stock at a rate of 0.8 common share for each preferred
share or allow the preferred to be redeemed for 46.51 dlrs per
share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15028" NEWID="9507">
<DATE>25-MAR-1987 14:24:28.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2036&#31;reute
h f BC-CYANOTECH-&lt;CYAN>-SETS   03-25 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>CYANOTECH &lt;CYAN> SETS WAY TO EXTRACT CAROTENE</TITLE>
<DATELINE>    WOODINVILLE, Wash., March 25 - </DATELINE><BODY>Cyanotech Corp said it has
developed a new way to extract beta carotene from algae.
    The company said the method reduces energy requirements by
70 pct and produces 90 pct recovery.
    The company has been a commercial producer of beta carotene
since May, 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15029" NEWID="9508">
<DATE>25-MAR-1987 14:25:15.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2037&#31;reute
r f BC-SAS-TO-UPGRADE-CABIN   03-25 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SAS TO UPGRADE CABIN SERVICE IN SCANDINAVIA</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Scandinavian Airlines Systems, SAS,
said it will improve cabin service for business class
passengers on intra-Scandinavian routes starting next week.
    The company also said it will simplify timetables on routes
in Scandinavia, with many flights departing hourly.
    SAS said it will upgrade meals and between meal
refreshments and relegate the sale of tax-free candy and
cosmetics to airport shops to give cabin attendants more time
to devote to the enhanced service.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15030" NEWID="9509">
<DATE>25-MAR-1987 14:25:31.25</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2039&#31;reute
r f BC-BELGIUM-PLANS-TO-OUTL   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIUM PLANS TO OUTLAW INSIDER TRADING</TITLE>
<DATELINE>    BRUSSELS, March 25 - </DATELINE><BODY>A Belgian finance ministry spokesman
said new rules planned on insider trading would enable
offenders to be fined and imprisoned for up to a year, and be
compelled to forfeit gains.
    The new rules require parliamentary approval, and
government sources said it was unclear when they would come
into force. Insider trading is currently not an offence in this
country.
    The cabinet approved a separate bill that analysts said
includes provisions to make more difficult the build-up of
major new stakes in Belgian companies.
    The bill would make obligatory the declaration of major
stakes in companies quoted on the bourse with own resources of
more than 200 mln francs.
    The Minister for Economic Affairs would need to be informed
in advance of deals under which foreign interests planned to
buy a new stake of more than ten pct of the voting shares in a
large Belgian company, or to increase an existing stake to more
than 20 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15031" NEWID="9510">
<DATE>25-MAR-1987 14:25:48.89</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2041&#31;reute
d f BC-OWENS-CORNING-FIBERGL   03-25 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>OWENS-CORNING FIBERGLAS &lt;OCF> SELLS FOAM UNIT</TITLE>
<DATELINE>    TOLEDO, Ohio, March 25 - </DATELINE><BODY>Owens-Corning Fiberglas Corp said
it sold its controlling interest in its French foam insulation
producing subsidiary to a Lafarege Corp &lt;LAF> subsidiary.
    Owens-Corning said it sold its interest in Sentuc Porxpan
SA for an undisclosed price.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15032" NEWID="9511">
<DATE>25-MAR-1987 14:26:44.54</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2044&#31;reute
b f BC-******U.S.-SHOE-INC-4   03-25 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SHOE INC 4TH QTR SHR 31 CTS VS 56 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15033" NEWID="9512">
<DATE>25-MAR-1987 14:28:16.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2046&#31;reute
u f AM-FRAUD   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TAX FRAUD CHARGES BROUGHT AGAINST THREE</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Three men were charged today with
operating a large tax fraud scheme that provided more than 500
mln dlrs in phony tax losses for many prominent people,
including CBS Inc. &lt;CBS> president Laurence Tisch and his
brother Preston, who is President Reagan's postmaster general.
    The indictment was handed down by a federal grand jury to
in New York.
    The three indicted were named as Charles Atkins, William
Hack and Ernest Grunebaum, all well-known promoters of tax
shelters. Atkins was well-known as an organizer of tax shelters
in the late 1970s and early 1980.
    The indictment said that between 1978 and 1983, the
defendants conspired to defraud the government by arranging
"rigged and fraudulent" transactions in governmenmt securities
and false tax deductions based on phony trading losses and
interest expenses.
    More than 350 mln dlrs in false deductions were passed on
to partners in three tax shelters.
    In addition, the defendants sold over 200 mln dlrs in phony
trading losses and interest expenses to other entities and
individuals to be used as tax deductions.
    The indictment said that over 1.1 billion dlrs in trading
losses and interest expenses were generated by the scheme but
were off-set by "fictious gains."
    Laurence Tisch was said by the indictment to have reported
a net loss of 1.1 mln dlrs. His brother, Preston Tisch,
reported a loss of 480,000 dlrs.
    None of the three men's clients were charged with any
criminal acts. But should the three be found guilty, their
clients will be required to pay taxes they originally avoided
through the tax shelter scheme, plus interest and possibly
penalties. 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15034" NEWID="9513">
<DATE>25-MAR-1987 14:31:07.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2053&#31;reute
r f BC-O'BRIEN-ENERGY-&lt;OBS>   03-25 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>O'BRIEN ENERGY &lt;OBS> IN CITICORP &lt;CCI> LEASE</TITLE>
<DATELINE>    PHILADELPHIA, March 25 - </DATELINE><BODY>O'Brien Energy Systems Inc said it
has signed a 12-year 12 mln dlr lease with Citicorp covering
its wood gasification project in Quincy, Fla.
    O'Brien said it retains rights to the residual value of the
project and may participate in the development of additional
electric generating facilities as part of a second phase of the
project, which started operating January One.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15035" NEWID="9514">
<DATE>25-MAR-1987 14:31:28.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2055&#31;reute
d f BC-QUAKER-CHEMICAL-&lt;QCHM   03-25 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>QUAKER CHEMICAL &lt;QCHM> TO REPURCHASE SHARES</TITLE>
<DATELINE>    CONSHOHOCKEN, Pa., March 25 - </DATELINE><BODY>Quaker Chemical Corp said its
board has authorized the repurchase from time to time of up to
300,000 common shares.
    Quaker now has about 6.6 mln shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15036" NEWID="9515">
<DATE>25-MAR-1987 14:32:58.44</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f2060&#31;reute
b f BC-TREASURY'S-BAKER-OUTL   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER OUTLINES TRADE BILL CRITICISMS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
that some of the trade bills proposed by Congress conflict
significantly with certain basic principles the Reagan
administration considers critical.
    Baker told a Senate committee that the administration would
resist such measures as a general import surcharge,
sector-specific protection such as import quotas for individual
products, mandatory retaliation, and limits on presidential
discretion in negotiating more open markets abroad and other
trade steps.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15037" NEWID="9516">
<DATE>25-MAR-1987 14:33:06.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2061&#31;reute
u f BC-CORRECTION---LONDON--   03-25 0081</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - LONDON - CITIBANK LAUNCHES WARRANTS
    In London item "Citibank Launches Currency Warrants" please
read second paragraph as follows
    "Each warrant, priced at 47.50 dlrs, gives the holder the
right to purchase a nominal sum of 500 dlrs against marks at
1.8250 marks to the dollar or at 149.50 yen to the dollar
between March 31, 1987 and March 31, 1989."
    (Corrects dollar/mark exchange rate to 1.8250 and makes
clear that dollar purchase is against marks or yen.)
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15038" NEWID="9517">
<DATE>25-MAR-1987 14:33:59.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2065&#31;reute
u f BC-CASINO-COMMISSION-DEL   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CASINO COMMISSION DELAYS VOTE ON HOLIDAY &lt;HIA></TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>The New Jersey Casino Control
Commission said it will put off for one week a decision on
whether to approve a 2.4 billion dollar recapitalization plan
previously announced by Holiday Corp &lt;HIA>.
    Holiday Corp is the licensee of Harrah's Marina Hotel and
Casino in Atlantic City, N.J.
    A spokeswoman for the commission said the commissioners
felt they needed more time to review testimony taken at an
all-day meeting Monday.
    A decision had been expected at the group's regular weekly
meeting today but the vote is now due April one.
    The New Jersey Division of Gaming Enforcement last week
completed a review of the Holiday recapitalization plan and
listed 10 areas of concern.
    The enforcement unit, which did not draw conclusions or
make recommendations, said the Commission had to decide if the
adoption of a leveraged financial structure will leave Holiday
in a financially stable condition which is required by the New
Jersey Casino control Act.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15055" NEWID="9518">
<DATE>25-MAR-1987 14:36:52.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2072&#31;reute
d f BC-WORTHERN-BANKING-&lt;WOR   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>WORTHERN BANKING &lt;WOR> IN AGREEMENT WITH FEDS</TITLE>
<DATELINE>    LITTLE ROCK, Ark., March 25 - </DATELINE><BODY>Worthern Banking Corp said it
entered into a formal written agreement with the Federal
Reserve Bank of St. Louis.
    The corporation said it will submit written plans and
reports on a regular basis to the Reserve Bank on several
matters, including current and future dividend policy for the
corporation and its affiliates.
    It also will inform the Reserve Bank about retaining an
independent management corporation to appoint a chairman of its
board, and it will first get approval from the Reserve Bank
before it takes on any more debt.
    In addition, Worthern said it will report on its
maintenance of adequate capital at the corporation and its 
affiliate banks, its strategic business plan for the remainder
of 1987 and 1988, and its improvement in the corporation's and
certain non-banking affiliates' position with respect to
certain assets previously subject to adverse classification.
    In addition, Worthern will provide the Federal Reserve Ban
with quarterly progress reports specifying the actions taken to
secure compliance with the agreement together with quarterly
balance sheets and income statements.
    Separately, Worthern said its results of oeperations for
the year ended Dec 31, 1986, previously announced Jan 29, 1987,
would be revised to reflect additional loan and lease loss
reserves and loan charge-offs, resulting in additional losses
for that period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15039" NEWID="9519">
<DATE>25-MAR-1987 14:38:03.77</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;f2077&#31;reute
r f BC-U.S.-SHOE-CORP-&lt;USR>   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SHOE CORP &lt;USR> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    CINCINNATI, March 25 -
    </DATELINE><BODY>Shr 31 cts vs 56 cts
    Net 13.7 mln vs 25.2 mln
    Sales 610.9 mln vs 575.9 mln
    Avg shrs 45.0 mln vs 44.8 mln
    Year
    Shr 57 cts vs 1.46 dlrs
    Net 25.5 mln vs 64.9 mln
    Sales 2.00 billion vs 1.92 billion
    Avg shrs 45.0 mln vs 44.5 mln
    NOTE: Current year net both periods includes gain five cts
shr from sale of Just for Kids! and Giggletree mail order
catalogs and charges of 10 cts shr from writedowns of assets
related to the closing of linens and domestics stores and
leased departments and of leased shoe departments.
    Year net includes LIFO inventory charges six cts shr vs two
cts shr.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15040" NEWID="9520">
<DATE>25-MAR-1987 14:44:20.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2086&#31;reute
d f BC-NUTMEG-INDUSTRIES-&lt;NU   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>NUTMEG INDUSTRIES &lt;NUTM> SETS LICENSING PACT</TITLE>
<DATELINE>    TAMPA, Fla., March 25 - </DATELINE><BODY>Nutmeg Industries Inc said it
signed an agreement in principle with (NBA Properties Inc)
to make sportswear bearing the logos of National Basketball
Association teams.
    Under the three-year pact, the company's Nutmeg Mills Inc
unit will design, manufacture and sell apparel for men, women
and children bearing the colors, names and symbols of the 23
basketball teams in the league.
    Nutmeg signed similar pacts in February with (Major League
Baseball Promotion Corp) and last week with (National Hockey
League Service) to make sportswear with the logos of baseball
and hockey teams.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15041" NEWID="9521">
<DATE>25-MAR-1987 14:44:56.22</DATE>
<TOPICS><D>grain</D><D>corn</D><D>oilseed</D><D>soybean</D><D>sorghum</D><D>sunseed</D></TOPICS>
<PLACES><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2089&#31;reute
u f BC-ARGENTINE-SOYBEAN-198   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINE SOYBEAN YIELD ESTIMATES DOWN FURTHER</TITLE>
<AUTHOR>    By Manuel Villanueva, Reuters</AUTHOR>
<DATELINE>    BUENOS AIRES, March 25 - </DATELINE><BODY>Argentine grain producers again
reduced their estimates for the total yield of the 1986/87
soybean crop, which will begin to be harvested in mid-April,
trade sources said.
    They said growers now forecast soybean production this
season at between 7.5 and 7.8 mln tonnes, down from last week's
estimate of 7.7 to eight mln tonnes and the 8.0 to 8.4 mln
tonnes forecast in mid-February.
    The new forecast is still higher than last season's record
total production.
    Private sources put 1985/86 production at a record 7.2 to
7.3 mln tonnes -- 4.2 to 6.4 pct lower than the new forecast
for the current crop. The official figure for 1985/86 is 7.1
mln tonnes, 5.6 to 9.9 pct below this season's new estimates.
    Growers in the past week discovered more empty soybean pods
in the main producing areas of southern Cordoba and Santa Fe
provinces and northern Buenos Aires.
    The crop since January has been hit by high temperatures
and inadequate rainfall. Growers fear they may find more empty
pods and have to further reduce their forecasts of total yield.
    The area sown to soybeans this season was a record 3.7 to
3.8 mln hectares, 10.8 to 13.8 pct higher than the 1985/86
record of 3.34 mln hectares.
    The state of the crop continued to be good in general until
last week but intense, heavy rains since could have caused
damage in areas where rainfall was higher than 100 mm.
    Where the rains were less heavy they were considered
beneficial although too late to improve yield estimates.
    The rains also benefitted maize and sorghum crops in
southern Buenos Aires province but are not expected to
influence production forecasts.
    In other areas, especially western Buenos Aires, where
rainfall was more than 200 mm, parts of the sunflower, maize
and sorghum crops not yet harvested may have been damaged.
    The coarse grain crop harvest was interrupted last week by
rains which also reached over 100 mm in parts of Cordoba, La
Pampa and Santa Fe and almost 90 mm in parts of Entre Rios.
    The area sown with maize this season was between 3.58 and
3.78 mln hectares, two to seven pct less than the 3.85 mln
hectares in 1985/86.
    The yield of 1986/87 maize continued to be forecast at
between 9.9 and 10.1 mln tonnes.
    This estimate is 19.8 to 20.2 pct lower than the 12.4 to
12.6 mln tonnes at which private sources put 1985/86 production
and 21.1 to 22.7 pct lower than the official 12.8 mln tonnes.
    The sunflowerseed harvest has covered 23 to 26 pct of the
area sown and continues in parts of central Buenos Aires
although at a standstill elsewhere due to rain and floods.
    A resumption of full harvesting and assessment of damage is
impossible until rains stop and a spell of a week to 10 days of
sunshine dries the fields.
    The area sown this season was 2.0 to 2.2 mln hectares, down
29.9 to 36.3 pct on last year's record 3.14 mln hectares.
    Sunflowerseed 1986/87 production is still forecast at 2.3
to 2.6 mln tonnes, 34.1 to 41.5 pct below the 1985/86 record of
4.1 mln tonnes.
    The grain sorghum harvest was the least affected by the
rains, advancing steadily in Santa Fe and Cordoba and starting
in La Pampa to cover 14 to 16 pct of the total area sown.
    The area sown was 1.23 to 1.30 mln hectares, 10.3 to 15.2
pct less than the 1.45 mln hectares the previous season.
    Yield estimates remained at 3.2 to 3.5 mln tonnes, 16.7 to
22 pct down on 1985/86 production of 4.1 to 4.2 mln tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15042" NEWID="9522">
<DATE>25-MAR-1987 14:45:36.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2092&#31;reute
d f BC-BETA-PHASE-&lt;BETA>-TO   03-25 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BETA PHASE &lt;BETA> TO SELL EYEGLASS TECHNOLOGY</TITLE>
<DATELINE>    MENLO PARK, Calif., March 25 - </DATELINE><BODY>Beta Phase said it has
agreed to sell its shape-memory eyeglass frame manufacturing
technology and equipment to privately-held Universal Optical.
    The company said Universal Optical will also purchase the
existing Beta Phase inventory of raw materials, its work in
progress and its manufacturing equipment and tooling.
    Under the pact, Beta Phase will receive a 20 pct share of
CVI/Beta Ventures, a joint venture owned by Beta Group and
CooperVision Inc &lt;EYE>, which markets worldwide shape memory
eyeglass frames. The venture will then be owned 54 pct by Beta
Group, 26 pct by Coopervision and 20 pct by Beta Phase.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15043" NEWID="9523">
<DATE>25-MAR-1987 14:46:16.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f2095&#31;reute
u f BC-/LYNG-SAYS-AGRICULTUR   03-25 0144</UNKNOWN>
<TEXT>&#2;
<TITLE>LYNG SAYS AGRICULTURE SHOULD SHARE SPENDING CUTS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>U.S. Agriculture Secretary Richard
Lyng said agriculture should share spending cuts under the
Gramm-Rudman law and that this would ultimately help exports.
    "There needs to be some reduction of some expenditures to at
least get close to the Gramm-Rudman figure," he said.
"Agriculture would not be independent from that."
    He told a Virginia Farm Bureau lunch, "I don't think anyone
believes we'll meet the 108 billion dlr target."
    Lyng said if the federal deficit came down, this would help
exports. "A failure to get the fiscal deficit under control is
having a harmful effect on agricultural exports."
    He added, however, that U.S. agricultural exports had
increased under the Farm Security Act but so far had not
recovered to what he called the successful levels of 1981.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15044" NEWID="9524">
<DATE>25-MAR-1987 14:46:41.85</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;f2098&#31;reute
b f BC-TREASURY'S-BAKER-SAYS   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SAYS NEW MONEY NOT PANACEA</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
that massive new lending to the debtor nations could actually
increase their difficulties in the period ahead without
protections.
    In testimony before a Senate committee, Baker said that
"throwing money at the debtor nations won't solve their
problems."
    He said it might seem like an easy solution to the debt
problems and might appear a simple way to boost U.S. exports
and growth in the debtor nations.
    Baker told the committee that such an approach could "worsen
their difficulties unless the new financing can be productively
absorbed and is consistent with their ability to grow and
service debt."
    He said that the debt initiative that bears his name is a
long-term approach and that further progress "will be gradual
and will vary among nations, depending upon their own
determination to implement growth-oriented reforms and the
continued active support of the international community."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15045" NEWID="9525">
<DATE>25-MAR-1987 14:49:57.23</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2115&#31;reute
h f BC-VERTEX-INDUSTRIES-INC   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>VERTEX INDUSTRIES INC &lt;VETX> 2ND QTR JAN 31 NET</TITLE>
<DATELINE>    CLIFTON, N.J., March 25 -
    </DATELINE><BODY>Oper shr loss three cts vs loss four cts
    Oper loss 40,870 vs loss 39,827
    Revs 584,855 vs 727,432
    Six mths
    Oper shr loss two cts vs loss two cts
    Oper loss 24,311 vs loss 26,947
    Revs 1,246,992 vs 1,497,251
    NOTE: Current periods exclude net gain of 150,865 dlrs from
termination of retirement plan for salaried employees. Also
excludes gain of 83,100 dlrs from in current qtr and gain
90,400 dlrs in six mths from benefit of tax loss carryforwards.
    Company went public in September 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15046" NEWID="9526">
<DATE>25-MAR-1987 14:53:35.73</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2122&#31;reute
u f BC-CYCLOPS-&lt;CYL>-SAYS-DI   03-25 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>CYCLOPS &lt;CYL> SAYS DIXONS APPOINTEES RESIGN</TITLE>
<DATELINE>    PITTSBURGH, Pa., March 25 - </DATELINE><BODY>Cyclops Corp said the three
members of its board appointed last week by &lt;Dixons Group PLC>
had resigned and that it named three Cyclops executives to
replace them.
    Cyclops said the moves followed the announcement earlier
today by Dixons that it received only 20 pct of Cyclops
outstanding common stock under an extended tender offer that
expired yesterday.
    Dixons initially ended its 90.25 dlr a share tender offer
on March 17 after receiving 54 pct of Cyclops shares.
    However, the Securities and Exchange Commission last Friday
pressed Dixons to reopen the offer because the U.K.-based
company had dropped a condition that at least 80 pct of Cyclops
stock be tendered by the close of the offer.
    Dixons then extended the offer until yesterday and earlier
today indicated that a substantial number of tendered Cyclops
shares had been withdrawn, leaving it with only 852,000 shares,
or just over 20 pct of the roughly 4.26 mln Cyclops shares
outstanding.
    Dixons said today that it purchased the tendered shares,
which, when combined with the shares it already holds, gives it
a 21.7 pct stake in Cyclops.
    Cyclops said its reconstituted board includes the three
newly named directors and five outside directors, all of whom
were on the board prior to Dixons tender offer.
    The three Cyclops directors were replaced by Dixons
appointees on March 17 under an agreement reached between the
two companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15047" NEWID="9527">
<DATE>25-MAR-1987 14:56:28.28</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>venezuela</D><D>ecuador</D><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2126&#31;reute
u f BC-ecuador-negotiating-w   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR NEGOTIATES WITH NIGERIA FOR LENDING OIL</TITLE>
<DATELINE>    QUITO, March 25 - </DATELINE><BODY>Earthquake-stricken Ecuador is
negotiating with Nigeria to have the African country lend it
10,000 barrels per day (bpd) of crude for export, Deputy Energy
Minister Fernando Santos Alvite told Reuters.
    He said Ecuador was negotiating a shipments schedule and
the terms of repaying the loan. Ecuador has suspended crude
exports for about five months until it repairs a pipeline
ruputured by a March five tremor.
    Santos Alvite added Ecuador is finalizing details for a
program under which Venezuela would temporarily lend the
country 50,000 bpd for export.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15048" NEWID="9528">
<DATE>25-MAR-1987 14:58:07.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2130&#31;reute
d f BC-COMPUTERVISION-&lt;CVN>   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTERVISION &lt;CVN> UNVEILS NEW DESIGN GEAR</TITLE>
<DATELINE>    BEDFORD, Mass., March 25 - </DATELINE><BODY>Computervision Corp said it
introduced additions to its CADDS 4X software line, a new
CADDStation workstation and upgrade kits for existing
CADDStation workstations.
    The company said the new software products include
Autoboard SMT, priced at 35,000 dlrs, which is a microchip
version of its printed circuit board software.
    The new CADDStation, based on Sun Microsystems Inc's &lt;SUNW>
workstation technology, is a 32-bit system, available initially
as a server, with a processing capacity of four mips, or
million instructions per second.
    The new CADDStation, Computervision said, is priced at
90,400 dlrs.
    The company said it is also offering kits to upgrade its
2-mips CADDstation priced at 35,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15049" NEWID="9529">
<DATE>25-MAR-1987 14:58:14.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2131&#31;reute
d f BC-CORRECTION---LONDON--   03-25 0080</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - LONDON - CITIBANK LAUNCHES WARRANTS
    In London item "Citibank Launches Currency Warrants" please
read second paragraph as follows
    "Each warrant, priced at 47.50 dlrs, gives the holder the
right to purchase a nominal sum of 500 dlrs against marks at
1.8250 marks to the dollar or at 149.50 yen to the dollar
between March 31, 1987 and March 31, 1989."
    (Corrects dollar/mark exchange rate to 1.8250 and makes
clear that dollar purchase is against marks or yen.)
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15050" NEWID="9530">
<DATE>25-MAR-1987 14:58:26.29</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;f2133&#31;reute
s f BC-NORTHERN-STATES-POWER   03-25 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHERN STATES POWER CO &lt;NSP> VOTES QUARTERLY</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., March 25 -
    </DATELINE><BODY>Qtly div 47-1/2 cts vs 47-1/2 cts prior qtr
    Pay 20 April
    Record 6 April
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15051" NEWID="9531">
<DATE>25-MAR-1987 14:58:34.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2134&#31;reute
s f BC-SUMMIT-TAX-EXEMPT-BON   03-25 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMMIT TAX EXEMPT BOND FUND &lt;SUA> SETS PAYOUT</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Qtrly div 40 cts vs 40 cts prior
    Pay  Aug  14, 1987
    Record April One, 1987
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15052" NEWID="9532">
<DATE>25-MAR-1987 15:00:17.00</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 G L M T
&#22;&#22;&#1;f2137&#31;reute
d f AM-TRADE-CANADA   03-25 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE TRADE LEADER CONCERNED ABOUT CANADA</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The chairman of the U.S. Senate
committee with jurisdiction over trade said he was concerned
about a resolution on bilateral trade negotiations adopted by
the Canadian House of Commons last week.
    The resolution supports negotiation of a bilateral trading
agreement with the United States while protecting Canadian
political sovereignty, social programs, agricultural marketing
systems, the auto industry and Canada's cultural identity.
    Senate Finance Committee chairman Lloyd Bentsen said the
resolution may jeopardize the viability of the proposed free
trade agreement between the two countries, which are each
other's largest trading partners.
    "We need a truly free trade agreement, which means both
countries have to work toward a deal that is mutually
beneficial and comprehensive, a large agreement," the Texas
Democrat said in a statement.
    "I do not question Canada's right to protect its political
sovereignty or cultural identity. However, if these phrases
mean the government of Canada means to take important economic
issues off the table in these negotiations, I am deeply
concerned," he added.
    Bentsen said Canada restricts trade 15 different ways while
the United States uses only six trade restriction methods. He
said if Canada proposes an agreement where both countries get
rid of six methods of trade restriction, it would not be fair
and might not win Senate approval.
    "I am deeply concerned that when the President visits Prime
Minister (Brian) Mulroney next month, he will be presented with
this kind of argument, and I hope he makes it clear -- as I did
when I was in Canada -- that only a mutually beneficial
agreement will be successful," Bentsen said.
    Reagan and Mulroney are scheduled to meet April 5-6 in
Ottawa.
    Bentsen urged Mulroney to withdraw a proposal that would
ban imports of independently produced films into Canada by
non-Canadians, which the senator called a protectionist
measure.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15053" NEWID="9533">
<DATE>25-MAR-1987 15:05:39.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2157&#31;reute
r f BC-TREASURY'S-BAKER-SAYS   03-25 0145</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SAYS NEW MONEY NOT DEBT PANACEA</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
massive new lending to debtor nations could actually increase
their difficulties in the period ahead without protections.
    In testimony before the Senate Committee on Governmental
Affairs, Baker said, "throwing money at the debtor nations won't
solve their problems."
    Baker told the committee such an approach could "worsen
their difficulties unless the new financing can be productively
absorbed and is consistent with their ability to grow and
service debt."
    He said the debt initiative associated with his name is a
long-term approach and further progress "will be gradual and
will vary among nations, depending upon their own determination
to implement growth-oriented reforms and on the continued
active support of the international community."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15054" NEWID="9534">
<DATE>25-MAR-1987 15:06:16.59</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2158&#31;reute
f f BC-******BAKER-SAYS-U.S.   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BAKER SAYS U.S. WILLING TO COOPERATE TO STABILIZE EXCHANGE RATES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15056" NEWID="9535">
<DATE>25-MAR-1987 15:12:38.17</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>west-germany</D><D>japan</D><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;f2177&#31;reute
b f BC-/BAKER-SAYS-U.S.-WANT   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SAYS U.S. WANTS TO STABILIZE EXCHANGE RATES</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
the United States and other nations were willing to cooperate
to stabilize foreign exchange rates at the levels that existed
at the time of an international agreement last month.
    "Our position with respect to the dollar goes back to the
Paris Agreement that the currencies were within ranges broadly
consistent with underlying economic conditions," Baker told a
Senate committee.
    Baker continued, "We said further that we and others are
willing to cooperate closely to foster stability in exchange
rates around those levels."
    He referred to a February agreement by six leading
industrial nations to cooperate on monetary matters.
    Baker refused to answer a question whether Japan and
Germany had done enough to stimulate their domestic economies
for the United States to support the dollar.
    "I will not comment because the foreign exchange market
reads more or less than is intended in my statements," Baker
said.
    Baker said that the other signatories recognized that they
must carry their share of the load of correcting external
imbalances that have hindered the world's economy.
    He cited news reports that Germany would increase a
proposed tax cut for 1988 by about five billion marks to
stimulate domestic growth.
    Japan also agreed to consider stimulative measures after
the Japanese budget was made final.
    Baker said those nations were stimulating their economies
in a manner consistent with gains against inflation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15057" NEWID="9536">
<DATE>25-MAR-1987 15:16:28.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2186&#31;reute
d f AM-AIRLINES   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>JUSTICE, DOT BACK AIRLINE ANTITRUST SWITCH</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Strong competition remains in the
airline industry despite a recent wave of mergers, a
Transportation Department official said.
    But Assistant Transportation Secretary Matthew Scocozza
said at a Senate antitrust committee hearing he would not
object to a transfer of the department's authority over airline
mergers to the Justice Department.
    Scocozza and Deputy Assistant Attorney General Roger
Andewelt said both departments felt airlines should be judged
under the same antitrust standards as all other industries.
    The Transportation Department is due to lose its authority
in 1989, but subcommittee chairman Howard Metzenbaum wants it
shifted now because he feels the Department has approved too
many airline mergers.
    "Airline mergers have proceeded at a breakneck pace with
barely a whimper being uttered by the Department of
Transportation. Nine airlines control 94 per cent of the
market," the Ohio Democrat said.
    Metzenbaum said he was concerned about the effects the
pending U.S.-Air-Piedmont Airlines merger would have on
service, especially at Dayton, Ohio, a major Piedmont hub.
    Scocozza said even with the recent mergers, such as Texas
Air Corp's acquisition of Eastern Air Lines and People Express,
more airlines were flying now in the United States than before
the 1978 airline deregulation act.
    "Airline deregulation has worked, is working, and, given
the department's commitment to preserving a competitive
environment, will continue to work," Scocozza said.
    He said the department considers the effect each merger
will have on competition over all the routes involved and will
not approve a merger which will reduce competition.
    Scocozza said most of the recent mergers involved airlines
in financial difficulty being taken over by other carriers.
     Andewelt said he was optimistic competition would increase
as airlines expanded airport hubs and routes and believed the
industry did not need special treatment under antitrust laws.
    "It is time to treat the airline industry in precisely the
same way as other U.S. industries; any differences are not
significant for the purpose of merger analysis," Andewelt said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15058" NEWID="9537">
<DATE>25-MAR-1987 15:17:12.79</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;f2190&#31;reute
d f BC-U.S.-GOVERNMENT-EXPAN   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. GOVERNMENT EXPANDS CRACKDOWN ON BAD DEBTS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The administration is expanding its
crackdown on bad debts, officials of the White House Office of
Management and Budget (OMB) told reporters.
    OMB Deputy Director Joseph Wright said the administration
this year plans to turn over to private credit rating firms
data on about 3.5 mln "deadbeats" who are seriously behind or in
default in their payments on federal loans.
    Next year, the government will turn over to private
collection bureaus four billion dlrs in bad education loans and
three billion dlrs in other bad government loans, Wright said.
    The government is also considering letting individuals make
payments on their student loans with credit cards, officials
told reporters.
    The Internal Revenue Service is already studying the use of
credit cards to pay income taxes, but this usage would require
a change in federal law while no congressional action would be
needed for credit cards to be used for student loans, the
officials said.
    The officials disclosed these plans in releasing the third
annual OMB report to Congress on management of the U.S.
government.
    The report details steps to be taken by the administration
to increase federal efficiency and to continue President
Reagan's highly publicized "war on waste, fraud and abuse."
    According to the report, elinquent U.S. debt had soared to
68.3 billion dlrs, or 18.8 pct of total receivables, by the end
of the fiscal year that ended last Sept. 30. At the end of
fiscal 1981, when Reagan took office, bad debt stood at 29.8
billion dlrs or 12.3 pct of total debt.
    But OMB officials said other Reagan administration efforts
had already saved taxpayers 84 billion dlrs and would save
another 25 billion dlrs or so by the time Reagan left office.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15059" NEWID="9538">
<DATE>25-MAR-1987 15:18:16.26</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;f2197&#31;reute
r f BC-FIRST-FEDERAL-DELAWAR   03-25 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST FEDERAL DELAWARE AGREEMENT EXTENDED</TITLE>
<DATELINE>    WILMINGTON, Del., March 25 - </DATELINE><BODY>&lt;First Federal Savings Bank>
of Delaware said its agreement to negotiate exclusively for its
sale with &lt;Oxford Financial Group> has been extended until
April 8 from March 18.
    The company said it is in the final stages of talks with
Oxford over the terms of the proposed acquisition.  Under a
nonbinding letter of intent signed in June 1986, Oxford would
pay 11 dlrs per First Federal share, subject to First Federal
shareholder approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15060" NEWID="9539">
<DATE>25-MAR-1987 15:18:47.40</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;f2200&#31;reute
b f BC-EDELMAN-GROUP-IN-PLAN   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>EDELMAN GROUP IN PLAN TO BUY MORSE SHOE &lt;MRS></TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>A group led by New York investor
Asher Edelman said Morse Shoe Inc agreed to provide it
confidential company information and that his group would make
an offer to buy Morse only in a friendly, negotiated deal.
    The group also said in a filing with the Securities and
Exchange Commission that its members would not, without Morse
approval, buy or offer to buy any company securities giving the
group a 10 pct or more stake in the company.
    Edelman and his group said his terms held until the earlier
of 90 days from March 3 or the date on which Morse announces a
definite agreement for its sale.
    At the same time, the Edelman group said it cut its stake
in Morse to 8.4 pct from 9.7 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15061" NEWID="9540">
<DATE>25-MAR-1987 15:19:27.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2205&#31;reute
r f BC-PHILIP-MORRIS'-&lt;MO>-O   03-25 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIP MORRIS' &lt;MO> OSCAR MAYER SETS REDEMPTION</TITLE>
<DATELINE>    MADISON, WIS., March 25 - </DATELINE><BODY>Oscar Mayer and Co Inc, a unit of
Philip Morris Cos Inc, said it will redeem all of its
outstanding 7.85 pct debentures due January 15, 1996 on April
30, 1987, at 1,014.50 dlrs plus accrued interest for each 1,000
dlrs prinicpal amount.
    A notice of redemption will be mailed to noteholders March
27, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15062" NEWID="9541">
<DATE>25-MAR-1987 15:19:37.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2206&#31;reute
r f BC-U.S--AUTO-AGENCY-GRAN   03-25 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S  AUTO AGENCY GRANTS FORD &lt;F> AIR BAG REQUEST</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The National Highway Transportation
Safety Administration said it granted a request by Ford Motor
Co to delay for four years until 1994 a requirement that air
bags or other passive restraint systems be installed on the
passenger side of the front seat of all new autombiles.
    Under the decision announced today by Transportation
Secretary Elizabeth Dole, automakers will be required to meet
federal passive restraint requirements only on the driver's
side. "The action we are taking today will result in the
installation of more air bags, sooner than would have occurred
without this rule," Dole said.
    Under the ruling announced today, 10 pct of model year 1987
cars must have automatic seat belts or air bags on the driver's
side. For the 1988 model year, 25 pct must have passive
restraints, and for 1989, 40 pct must be so equipped.
    By the 1990 model year, all new cars must be equipped with
passive restraint systems on the driver's side.
    For the passenger side of the front seat, ordinary seat
belts will suffice until 1994 under the new ruling. As
previously written, the federal standard required passive
restraint systems such as air bags on both the driver's and
passenger's side of the front seat in all new cars by 1990.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15063" NEWID="9542">
<DATE>25-MAR-1987 15:19:44.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2207&#31;reute
r f BC-MERCK-&lt;MRK>-GETS-FDA   03-25 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCK &lt;MRK> GETS FDA HEARTWORM MEDICINE APPROVAL</TITLE>
<DATELINE>    RAHWAY, N.J., March 25 - </DATELINE><BODY>Merck and Co Inc said its
veterinary drug Heartgard-30 for the prevention of heartworm
disease in dogs has been approved by the U.S. Food and Drug
Administration.
    The company said the drug will be availiable only through
licensed veterinarians.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15064" NEWID="9543">
<DATE>25-MAR-1987 15:19:52.92</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;f2208&#31;reute
r f BC-JOHN-LABATT-SEES-GOOD   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>JOHN LABATT SEES GOOD FOURTH QUARTER, YEAR</TITLE>
<DATELINE>    MONTREAL, March 25 - </DATELINE><BODY>&lt;John Labatt Ltd> anticipates a good
fourth quarter and a new peak in sales and earnings for the
fiscal year ending April 30, president Peter Widdrington told
financial analysts.
    He would not make any specific forecast, but said he was
optimistic for further growth in fiscal 1988 in the company's
brewing and food products operations.
    Labatt's earnings rose to 92.8 mln dlrs in the nine months
ended January 31 from year-earlier 78 mln dlrs. Revenue for the
nine months rose to 3.20 billion dlrs from 2.70 billion dlrs.
    Widdrington said Labatt's three-year business plan, now
being updated, targets total sales of about six billion dlrs,
including 2.50 billion dlrs in the U.S.
    Labatt, Canada's leading brewer, has expanded in the U.S.
food products industry by acquisitions.
    Widdrington said Labatt's strategy for U.S. expansion
stemmed partly from its strong market position in the Canadian
food and beverage industry. The U.S. share of revenues for this
year will be about 35 pct, rising to 40 pct in fiscal 1988, he
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15065" NEWID="9544">
<DATE>25-MAR-1987 15:20:26.35</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>canada</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y
&#22;&#22;&#1;f2211&#31;reute
r f BC-husky-sets-meeting   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>HUSKY &lt;HYO> SETS MEETING TO APPROVE MERGER</TITLE>
<DATELINE>    CALGARY, Alberta, March 25 - </DATELINE><BODY>Husky Oil Ltd said the board
called a special meeting for April 22 for shareholders to vote
on its previously announced agreement for Hong Kong-based
Hutchison Whampoa Ltd and Hongkong Electric Holdings Ltd to
acquire a 43 pct interest in the company.
    The acquisition requires two-thirds approval by Husky
shareholders other than &lt;Nova, An Alberta Corp>, which owns a
57 pct interest in Husky.
    If approved by shareholders, the amalgamation will take
effect April 30, Husky said.
    Following completion, Oil Term Holdings Ltd, a new company
controlled by Nova, will hold a 43 pct stake in Husky.
Hutchison and Hongkong will indirectly hold 43 pct, Victor T.K.
Li will own nine pct and &lt;Canadian Imperial Bank of Commerce>
will have a five pct interest.
    Husky said a special committee of five outside directors
recommended the board approve the transaction after determining
that the deal was in the best interests of Husky and fair to
shareholders.
    Husky previously announced shareholders will have the
option to receive 11.80 Canadian dlrs cash for each common, or
6.726 dlrs cash and one common share of Oil Term Investment
Ltd, which will be controlled by Nova through Oil Term Holdings
and own an insterest in Husky.
    U.S. shareholders will be restricted to the right to
receive 11.80 Canadian dlrs cash per share, which will be paid
in U.S. funds, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15066" NEWID="9545">
<DATE>25-MAR-1987 15:20:44.56</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;f2213&#31;reute
r f BC-BALTIMORE-GAS-AND-ELE   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>BALTIMORE GAS AND ELECTRIC &lt;BGE> FILES DEBT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Baltimore Gas and Electric Co said it
filed a registration with the Securities and Exchange
Commission to sell 100 mln dlrs of unsecured debt.
    The debt filing was registered under the SEC's shelf
procedure which gives the utility up to two years to sell its
debt.
    Once the registration becomes effective Baltimore Gas and
Electric will be able to issue debt on short notice as market
or corporate conditions warrant.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15067" NEWID="9546">
<DATE>25-MAR-1987 15:20:50.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2214&#31;reute
r f BC-MERCK-&lt;MRK>-GETS-APPR   03-25 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCK &lt;MRK> GETS APPROVAL FOR DOG HEART DRUG</TITLE>
<DATELINE>    RAHWAY, N.J., March 25 - </DATELINE><BODY>Merck and Co said a drug to
prevent heartworm disease in dogs, ivermectin, has been
approved by the U.S. Food and Drug Administration.
    The drug, made by Merck's animal health and agricultural
products division, will be sold under the name Heartgard-30
through licensed veterinarians.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15068" NEWID="9547">
<DATE>25-MAR-1987 15:20:56.52</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;f2215&#31;reute
r f BC-WASHINGTON-GAS-LIGHT   03-25 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>WASHINGTON GAS LIGHT CO &lt;WGL> HIKES PAYOUT</TITLE>
<DATELINE>    WASHINGTON, March 25 -
    </DATELINE><BODY>Qtly div 45 cts vs 44 cts prior
    Pay May one
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15069" NEWID="9548">
<DATE>25-MAR-1987 15:21:22.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2218&#31;reute
h f BC-ZENITH-&lt;ZE>-NAMES-NEW   03-25 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH &lt;ZE> NAMES NEW FINANCIAL OFFICER</TITLE>
<DATELINE>    GLENVIEW, ILL., March 25 - </DATELINE><BODY>Zenith Electronics Corp said
Howard Graham has been named vice president-finance and chief
financial officer, effective April 1.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15070" NEWID="9549">
<DATE>25-MAR-1987 15:22:52.51</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2220&#31;reute
u f BC-FERC-DECISION-COULD-C   03-25 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>FERC DECISION COULD CUT COLUMBIA GAS &lt;CG> NET</TITLE>
<DATELINE>    WILMINGTON, Del., March 23 - </DATELINE><BODY>Columbia Gas System Inc said a
Federal Energy Regulatory Commission decision today on natural
gas cost recovery could reduce its 1987 earnings by about 1.25
dlrs a share.
    The company said "this could bring earnings for 1987 below
Columbia's stated goal of earning no less than its 3.18 dlrs
per share dividend." It earned 2.12 dlrs a share in 1986.
    It said management expects to recommend to the board that
the dividend rate be maintained in 1987.
    Columbia Gas said the impact of the FERC decision may be
offset by a one-time accounting change rleated to future tax
liabilities under the new federal tax laws.
    The company recorded these liabilities based on older,
higher tax rates, but an action being considered by the
Financial Accounting Standards Board could result in a gain of
about 1.20 dlrs a share in 1987, it explained.
    "Thus there is a good chance that we will attain our 1987
earnings goal -- although not in the way originally planned,"
Columbia Gas said.
    Columbia Gas said the FERC decision would limit the
recovery of certain gas contract costs by Columbia Gas
Transmission Corp, the company's principal pipeline subsidiary.
    It said the decision specifically excluded from a purchased
gas adjustment filing by the pipeline costs related to
amortizing payments made to producers to reform gas purchase
contracts. These were excluded on the grounds the subsidiary
failed to sufficiently support cost recovery.
    The company said its subsidiary is not precluded from
making a new filing to provide sufficient support.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15071" NEWID="9550">
<DATE>25-MAR-1987 15:23:15.04</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>usa</D><D>yemen-arab-republic</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2221&#31;reute
u f BC-U.S.-OFFERS-MORE-CRED   03-25 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. OFFERS MORE CREDITS FOR VEG OIL TO N. YEMEN</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The U.S. Commodity Credit
Corporation (CCC) has authorized an additional 10.0 mln dlrs in
credit guarantees to cover sales of U.S. vegetable oils to
North Yemen, the U.S. Agriculture Department said.
    The department also said at the request of the North Yemen
Government five mln dlrs in credit guarantees previously
earmarked for sales of wheat have been switched to cover sales
of mixed poultry feed.
    The actions increase the value of credit guarantees for
vegetable oil for the current fiscal year to 38 mln dlrs,
reduce the guarantee coverage for sales of wheat to eight mln
dlrs and increase the coverage for sales of mixed poultry feed
to 10 mln dlrs.
    All exports must be completed by September 30, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15072" NEWID="9551">
<DATE>25-MAR-1987 15:24:27.71</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;f2222&#31;reute
h f BC-PUERTO-RICAN-CEMENT-C   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>PUERTO RICAN CEMENT CO &lt;PRN> SETS PAYOUT</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay May 13
    Record April 14
    NOTE: Company said up to 20 pct of dividend payment may be
withheld in accordance with Puerto Rico tax law.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15073" NEWID="9552">
<DATE>25-MAR-1987 15:25:11.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2223&#31;reute
r f BC-U.S.-SHOE-&lt;USR>-TO-OP   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SHOE &lt;USR> TO OPEN 421 STORES IN 1987</TITLE>
<DATELINE>    CINCINNATI, Ohio, March 25 - </DATELINE><BODY>U.S. Shoe Corp said it plans
to open 421 stores and close 33 units in 1987, bringing the
total number of its outlets to 2,655.
    Earlier the large retailer reported that its earnings
dropped 61 pct to 25.5 mln dlrs for the year ended January 31.
In the year earlier period it earned 64.9 mln dlrs. Sales rose
four pct to 2.0 billion dlrs from 1.9 billion dlrs.
    U.S. Shoe cited severe merchandising problems in its key
retail divisions and competition in its footwear divisions as
some of the reasons for the earnings decline last year.
    U.S. Shoe also said it expects results for the first
quarter to end May 31 will show an improvement over the 3.2 mln
dlrs it earned in the year-ago quarter.
    It said that initial orders for spring were down
"moderately," but reorder activity was "excellent" within its
women's footwear divisions.
    The company said it "will continue to search for ways to
make its footwear assets more productive and operations more
efficient." It said it expects capital outlays in fiscal 1987
to exceed 165 mln dlrs, a 12 pct increase over 1986 levels.
    It said capital outlays to improve domestic productivity
this year are planned to increase 50 pct over 1986 levels.
    The company also said it plans to increase its presence in
Brazil and to start production in Hong Kong, which along with
other overseas offices, will strenghten its overall import
capability.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15074" NEWID="9553">
<DATE>25-MAR-1987 15:28:05.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2228&#31;reute
r f BC-BARRIS-&lt;BRRS>-TO-BUY   03-25 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>BARRIS &lt;BRRS> TO BUY BACK STOCK</TITLE>
<DATELINE>    BEVERLY HILLS, Calif., March 25 - </DATELINE><BODY>Barris Industries Inc
said it agreed to buy back 763,546 shares, or 8.6 pct of its
own common stock from company founder Charles Barris for 12.50
dlrs per share.
    Barris and the company have also terminated an agreement
which granted Barris Industries the right of first refusal for
a five year period on any project initiated by Barris, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15075" NEWID="9554">
<DATE>25-MAR-1987 15:30:34.97</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D><D>canada</D><D>taiwan</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2232&#31;reute
d f BC-CANADA-CONSIDERING-MO   03-25 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA MAY MONITOR STEEL SHIPMENTS</TITLE>
<DATELINE>    OTTAWA, March 26 - </DATELINE><BODY>Canada may begin monitoring steel
flowing in and out of the country to determine if any steel is
being illegally "trans-shipped" to the U.S., senior government
trade officials said.
    The officials, asking not to be identified, said the
government will investigate an industry contention that steel 
imported from countries such as South Korea and Taiwan is being
diverted to the U.S. and ultimately exasperating concerns about
the level of Canadian exports south of the border.
    But the senior officials, asking not to be indentified,
said that despite intense pressure from the Reagan
Administration, Ottawa was not considering any kind of formal
limits on Canadian shipments to the U.S.
    "In a sense what I hope we are doing is buying some time,"
said one official who claimed Canadian companies were "fair
traders" in the big American market.
    If approved by the Canadian cabinet, the officials said a 
monitoring system will be established in the next three or four
months.
    "I guess if we find trans-shipment is a problem, we would
have to do something about it," said a trade official.
    Canadian steel shipments to the U.S. have risen to 5.7 pct
of the U.S. market in recent months, almost double the level
just two years ago.
    The increase in Canadian shipments comes at a time of
growing anger in the U.S. over rising steel imports from
several countries in the face of a decline among domestic steel
producers.
    Some U.S. lawmakers have proposed Canada's share of the
American market be limited to 2.4 per cent.
    The Ontario Government has urged Ottawa to require foreign
companies to obtain permits to import steel into the country.
Currently, import licences are required only for carbon or raw
steel, which makes up less than half the steel market.
    Canada exported two billion Canadian dlrs worth of steel in
1986, while importing 944-mln dlrs worth of the product in the
same year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15076" NEWID="9555">
<DATE>25-MAR-1987 15:34:47.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2248&#31;reute
r f BC-MEXICO-SIGNS-100-MLN   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>MEXICO SIGNS 100 MLN DLR IADB TOURISM LOAN</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Mexican officials, led by Finance
Minister Gustavo Petricioli, signed a 100 mln dlr loan with the
Inter-American Development Bank to help finance the promotion
of foreign tourism.
    The loan is for 15 years with 4-1/2 years grace at a
variable interest rate.
    The IADB has approved previous loans totaling 207.5 mln
dlrs to help finance investments of some 580 mln dlrs in
Mexico's tourism sector.
    The total cost of the program announced today is about 334
mln dlrs, of which the IADB loan will cover 29.9 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15077" NEWID="9556">
<DATE>25-MAR-1987 15:39:12.89</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2258&#31;reute
r f BC-WESCO-FINANCIAL-CORP   03-25 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>WESCO FINANCIAL CORP &lt;WSC> 4TH QTR NET</TITLE>
<DATELINE>    PASADENA, Calif., March 25 -
    </DATELINE><BODY>Shr 79 cts vs 5.05 dlrs
    Net 5,628,000 vs 35,936,000
    Revs 41.8 mln vs 39.4 mln
    Year
    Shr 2.32 dlrs vs 7.24 dlrs
    Net 16,524,000 vs 51,541,000
    Revs 160.2 mln vs 114.9 mln
    Note:  Current qtr figures include securities gain of 2.1
mln dlrs, or 29 cts per share, vs gain of 34.3 mln dlrs, or
4.81 dlrs per share.
    Current year figures include security gain of 4.6 mln dlrs,
or 64 cts per share, vs gain of 41.5 mln dlrs, or 5.83 dlrs per
share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15078" NEWID="9557">
<DATE>25-MAR-1987 15:41:19.13</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2263&#31;reute
r f BC-HELM-&lt;H>-SELLS-ADDITI   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>HELM &lt;H> SELLS ADDITIONAL SHARES IN BAMBERGER</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Helm Resources Inc said that, pursuant
to the exercise of an overallotment option by underwriters in
Bamberger Polymers INc's initial public offering, it has sold
another 35,000 Bamberger shares and reduced its ownership in
Bamberger to 51 pct from 55 pct.
    To date, Helm has sold 435,000 Bamberger's for 3.5 mln
dlrs.
    Bamberger has sold a total of 600,000 shares and received
net proceeds of about 4.8 mln dlrs since the February 1987
offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15079" NEWID="9558">
<DATE>25-MAR-1987 15:46:55.55</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;f2276&#31;reute
r f BC-AMPAL-AMERICAN-ISRAEL   03-25 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>AMPAL-AMERICAN ISRAEL CORP &lt;AIS.A> YEAR NET</TITLE>
<DATELINE>    NEW YORK, March 25 -
    </DATELINE><BODY>Shr 27 cts vs 25 cts
    Net 6,416,000 vs 5,988,000
    Revs 112.2 mln vs 99.8 mln
    NOTE: 1985 includes extraordinary income of 647,000 dlrs or
three cts/shr. 1985 restated.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15080" NEWID="9559">
<DATE>25-MAR-1987 15:48:42.37</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;f2282&#31;reute
b f BC-COCOA-CHAIRMAN-TO-SEE   03-25 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>COCOA COUNCIL CHAIRMAN SEEKS BUFFER COMPROMISE</TITLE>
<DATELINE>    LONDON, March 25 - </DATELINE><BODY>International Cocoa Organization, ICCO,
Council chairman, Denis Bra Kanon, said he will attempt to
reach a compromise on buffer stock rules for the International
Cocoa Agreement.
    Bra Kanon called for bilateral consultations among
producers and consumers Thursday morning to resolve outstanding
differences on how much non-member cocoa the buffer stock can
purchase and differentials to be fixed for different origin
cocoa, consumer delegates told reporters.
    Bra Kanon is expected to meet with about eight delegations
individually in attempt to iron out remaining problems.
    Producers and consumers indicated support "in principle" for
the draft buffer stock rules package formulated over the past
week by a small working group, consumer delegates said.
    Despite remaining differences delegates remained confident
a buffer stock accord would be agreed to by Friday when the
council session ends, but certain technical points need further
clarification, the delegates said.
    Certain consumers are concerned that differentials included
in the draft buffer stock package are out of line with market
realities, consumer delegates said.
    Unless these are modified there are fears it would promote
purchases of quality cocoas, such as Ghana origin, which are
normally required by manufacturers, they said.
    Restrictions on buffer stock purchases of non-member cocoa
might lead to a supply overhang in Malaysian cocoa, which would
depress prices, they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15081" NEWID="9560">
<DATE>25-MAR-1987 15:49:14.37</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2285&#31;reute
r f BC-SNC-GROUP-EXPECTS-HIG   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SNC GROUP EXPECTS HIGHER 1987 EARNINGS, SALES</TITLE>
<DATELINE>    MONTREAL, March 25 - </DATELINE><BODY>&lt;SNC Group Inc> expects 1987 earnings
to rise to 1.20-1.40 dlrs a share from 91 cts a share last
year, with revenues climbing to about 430 mln dlrs from last
year's 350 mln dlrs, president Alex Taylor said before the
annual meeting.
    SNC, Canada's second biggest engineering and construction
group, became the country's largest ammunition manufacturer
last year with its 90 mln dlr acquisition of Canadian Arsenals
Ltd from the Canadian government.
    The impact of that and several smaller deals will be felt
fully in 1987, Taylor said.
    Defense preoducts and other manufacturing operations will
account for more than half SNC's total 1987 revenues, helping
to counterbalance the more cyclical engineering and
construction acivities, Taylor said.
    Last year, SNC earned 8.7 mln dlrs, including a small
extraordinary gain.
    In 1987, a total manufacturing activities will generate
about 235 mln dlrs in revenues, and engineering and
construction about 200 mln dlrs, he said, adding that defense
products operations should be a major contributor to earnings.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15082" NEWID="9561">
<DATE>25-MAR-1987 15:50:07.04</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;f2287&#31;reute
r f BC-MINE-SAFETY-&lt;MNES>-SE   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MINE SAFETY &lt;MNES> SELLS SOUTH AFRICA UNIT</TITLE>
<DATELINE>    PITTSBURGH, March 25 - </DATELINE><BODY>Mine Safety Appliances Co said it
will sell through its German subsidiary, Auergesellschaft, its
controlling interest in MSA (Africa), (PTY) Ltd, of
Johannesburg, South Africa to Boart International, a wholly-
owned subsidiary of Anglo American Corp of South Africa Ltd
&lt;ANGL>.
    The company said the terms of the sale were not disclosed.
    The company will operate as Boart-MSA (PTY) Ltd, it said.
    L.N. Short Jr, president of the company, said it sold the
unit because of slumping profits due to South Africa's economic
decline.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15083" NEWID="9562">
<DATE>25-MAR-1987 15:50:54.58</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2290&#31;reute
d f BC-MEDAR-INC-&lt;MDXR>-4TH   03-25 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDAR INC &lt;MDXR> 4TH QTR DEC 31 LOSS</TITLE>
<DATELINE>    FARMINGTON HILLS, Mich., March 25 -
    </DATELINE><BODY>Shr loss 10 cts vs loss nine cts
    Net loss 558,800 vs loss 469,200
    Sales 5.5 mln vs two mln
    Nine mths ended Dec 31
    Shr profit two cts vs loss four cts
    Net profit 91,045 vs loss 207,000
    Sales 17.3 mln vs 8.4 mln
    Avg shrs 5,465,433 vs 5,037,819
    Year ended March 31
    Shr loss 28 cts vs profit 19 cts
    Net loss 1,356,321 vs profit 818,723
    Sales 10.9 mln vs 12.2 mln
    Avg shrs 4,862,499 vs 4,683,591
    Note: Medar changed end of fiscal year to December 31 to be
more in phase with business cycle of its major customers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15084" NEWID="9563">
<DATE>25-MAR-1987 15:51:49.14</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2294&#31;reute
d f BC-MEDAR-&lt;MDXR>-CHANGES   03-25 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDAR &lt;MDXR> CHANGES FISCAL YEAR</TITLE>
<DATELINE>    FARMINGTON HILLS, Mich., March 25 - </DATELINE><BODY>Medar Inc said it
changed the end of its fiscal year to December 31 from March
31.
    The company, in reporting its annual results, said the
change was made to bring its financial reporting in phase with
the order cycle of its major customers.
    Medar earlier said it lost 558,800 dlrs in its final 1986
quarter, compared to a loss of 469,200 dlrs in the same 1985
quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15085" NEWID="9564">
<DATE>25-MAR-1987 15:51:54.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2295&#31;reute
d f BC-EPSILON-DATA-&lt;EPSI>-G   03-25 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>EPSILON DATA &lt;EPSI> GETS NEW CREDIT AGREEMENT</TITLE>
<DATELINE>    BURLINGTON, Mass., March 25 - </DATELINE><BODY>Epsilon Data Management Inc
said it had executed a new revolving credit and term loan
agreement with the Shawmut Bank N.A.
    It said the total credit available under the newly-signed
agreement is six mln dlrs.
    It said the new agreement will, at its option, convert to a
four-year term loan in September 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15086" NEWID="9565">
<DATE>25-MAR-1987 15:53:09.20</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2297&#31;reute
b f BC-******U.S.-SECURITIES   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SECURITIES INDUSTRY ASSN BACKS RESTRAINTS ON TAKEOVERS, INSIDER TRADING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15087" NEWID="9566">
<DATE>25-MAR-1987 15:53:14.03</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2298&#31;reute
h f BC-CHEMFIX-TECHNOLOGIES   03-25 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEMFIX TECHNOLOGIES INC &lt;CFIX> 2ND QTR NET</TITLE>
<DATELINE>    NEW ORLEANS, March 25 - </DATELINE><BODY>Ended Feb 28
    Shr profit one ct vs loss four cts
    Net profit 53,040 vs loss 255,568
    Revs 2,252,246 vs 755,605
    Six mths
    Shr profit three cts vs loss eight cts
    Net profit 217,884 vs loss 517,538
    Revs 4,895,720 vs 1,569,662
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15088" NEWID="9567">
<DATE>25-MAR-1987 15:54:43.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f2301&#31;reute
r f BC-ALABAMA-UPGRADED-IN-B   03-25 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>ALABAMA UPGRADED IN BRUCELLOSIS PROGRAM</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Alabama has advanced from a Class B
to a Class A rating in the eradication of cattle brucellosis
program, thus relieving some restrictions in the interstate
movement of cattle from the state, the U.S. Agriculture
Department said.
    To qualify for a Class A rating, a state must keep its herd
infection rate at or below 0.25 pct for 12 months.
    The change in Alabama's classification reduces the testing
and identification requirements for cattle moved interstate for
breeding purposes, to immediate slaughter or to quarantined
feedlots, USDA said.
    Brucellosis is an infectious bacterial disease that causes
abortion, reduced fertility and lower milk yields in cattle, it
noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15089" NEWID="9568">
<DATE>25-MAR-1987 15:57:21.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2302&#31;reute
d f BC-HELM-&lt;H>-AFFILIATE-SE   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>HELM &lt;H> AFFILIATE SELLS SYSTEM</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Teletrak Advanced Technology Systems
Inc, 35 pct-owned by Helm Resources Inc, said it received a 
contract to provide its Laser Base 400 System to a national
commercial bank.
    The system is an optical disk storage and retrieval system
that utilizes commercially accepted computer hardware, it said.
    Teletrak also said a New York law firm has retained it to
develop the laser base software for the firm's word processing
system.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15090" NEWID="9569">
<DATE>25-MAR-1987 15:57:45.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2304&#31;reute
r f BC-FEDERAL-PAPER-&lt;FBO>-O   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERAL PAPER &lt;FBO> OFFERS PREFERENTIAL SHARES</TITLE>
<DATELINE>    MONTVALE, N.J., March 25 - </DATELINE><BODY>Federal Paper Board Co Inc said
its is offering 2,800,000 shares, or 140 mln dlrs, of its 2.875
cumulative convertible preferred stock at 50 dlrs per share.
    The company said it is applying to list the preferred stock
on the New York Stock Exchange.
    The First Boston Corp, Morgan Stanley and Co Inc and
PaineWebber Inc are underwriting the issues, the company said.
    The preferred stock has a liquidation preference of 50 dlrs
per share and is convertible at any time into common stock at
55 dlrs per share subject to adjustment.
    The preferred stock is redeemable starting at 52.875 dlrs
per share on March 15, 1987, and declining on each March 15 to
50 dlrs on and after March 15, 1997.
    The company said it intends to used the proceeds from the
sale to redeem its entire 125 mln dlrs of its outstanding 13
pct subordinated debentures due 2000, with the balance to be
added to the company's general funds.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15091" NEWID="9570">
<DATE>25-MAR-1987 15:59:15.34</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2307&#31;reute
r f BC-ALLIS-CHALMERS-&lt;AH>-S   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLIS-CHALMERS &lt;AH> SELLS SWISS UNIT</TITLE>
<DATELINE>    MILWAUKEE, Wisc., March 25 - </DATELINE><BODY>Allis-Chalmers Corp said it
has sold its Elex Ag unit in Zurich, Switzerland, to private
investors for an undisclosed amount.
    The company said Elex produces electrostatic precipitators
used in air pollution control.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15092" NEWID="9571">
<DATE>25-MAR-1987 16:01:27.44</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;f2313&#31;reute
u f BC-MONARCH-CAPITAL-&lt;MON   03-25 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>MONARCH CAPITAL &lt;MON PR> WILL NOT RESUME TRADING</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>The New York Stock Exchange said
Monarch Capital Corp Pfd will not resume trading today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15093" NEWID="9572">
<DATE>25-MAR-1987 16:02:39.39</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;f2319&#31;reute
d f BC-FLORIDA-EMPLOYERS-INS   03-25 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>FLORIDA EMPLOYERS INSURANCE CO &lt;FLAE> YEAR 1986</TITLE>
<DATELINE>    GEORGETOWN, Grand Cayman, British West Indies, March 25 -
    </DATELINE><BODY>Shr 29 cts vs nine cts
    Net 651,000 vs 214,000
    NOTE: 1986 net includes loss of 500,000 dlrs for
extraordinary item.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15094" NEWID="9573">
<DATE>25-MAR-1987 16:03:28.59</DATE>
<TOPICS><D>jet</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2321&#31;reute
u f BC-SHELL-OIL-GETS-104.3   03-25 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL OIL GETS 104.3 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Shell Oil Co of Houston has been
awarded a 104.3 mln dlr contract for jet fuel, the Defense
Logistics Agency said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15095" NEWID="9574">
<DATE>25-MAR-1987 16:03:35.93</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2322&#31;reute
f f BC-******U.S.-4-YEAR-NOT   03-25 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. 4-YEAR NOTE AVERAGE YIELD 6.79 PCT, STOP 6.79 PCT, AWARDED AT HIGH YIELD 95 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15096" NEWID="9575">
<DATE>25-MAR-1987 16:08:01.84</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2328&#31;reute
f f BC-******DETROIT-EDISON   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DETROIT EDISON FILES SHELF REGISTRATION FOR ONE BILLION DLRS IN BONDS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15097" NEWID="9576">
<DATE>25-MAR-1987 16:08:20.45</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2330&#31;reute
u f BC-NIKE-INC-&lt;NIKE>-3RD-Q   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>NIKE INC &lt;NIKE> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    BEAVERTON, Ore., March 25 -
    </DATELINE><BODY>Shr 12 cts vs 30 cts
    Net 4,255,000 vs 11.5 mln
    Revs 199.4 mln vs 258.7 mln
    Nine mths
    Shr 64 cts vs 1.19 dlrs
    Net 24.4 mln vs 45.5 mln
    Revs 639.7 mln vs 824.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15098" NEWID="9577">
<DATE>25-MAR-1987 16:09:20.58</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2335&#31;reute
s f BC-ZENITH-NATIONAL-INSUR   03-25 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH NATIONAL INSURANCE &lt;ZNAT> QTLY DIVIDEND</TITLE>
<DATELINE>    ENCINO, Calif., March 25 -
    </DATELINE><BODY>Shr 20 cts vs 20 cts prior qtr
    Pay May 14
    Record April 30
    Note: Full name Zenith National Insurance Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15099" NEWID="9578">
<DATE>25-MAR-1987 16:09:36.16</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2336&#31;reute
s f BC-REDKIN-LABORATORIES-I   03-25 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>REDKIN LABORATORIES INC &lt;RDKN> QTLY DIVIDEND</TITLE>
<DATELINE>    CANOGA PARK, Calif., March 25 -
    </DATELINE><BODY>Shr five cts vs five cts prior qtr
    Pay April 17
    Record April 3.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15100" NEWID="9579">
<DATE>25-MAR-1987 16:10:03.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2337&#31;reute
r f BC-INT'L-MINERALS-&lt;IGL>   03-25 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>INT'L MINERALS &lt;IGL> PLANS BIOTECHNOLOGY PROJECT</TITLE>
<DATELINE>    NORTHBROOK, ILL., March 25 - </DATELINE><BODY>International Minerals and
Chemical Corp said its board approved a 50-mln-dlr budget to be
spent over the next several years to build production
facilities for a newly developed product to be used to improve
the lean weight of hogs.
    The new product, porcine somatotropin (PST) is described as
a natural bio-synthetic protein that improves the lean weight
and rate of weight gain, as well as reduces the cost of feed
for market hogs, the company said.
    Specific details of the PST production project, including
sites for the proposed facilities and engineering plans, were
not disclosed.
    International Minerals said it set a completion target for
the spring of 1989, by which time necessary Food and Drug
Administration approvals are expected to be obtained.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15101" NEWID="9580">
<DATE>25-MAR-1987 16:10:24.88</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2339&#31;reute
s f BC-COOPERVISION-INC-&lt;EYE   03-25 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>COOPERVISION INC &lt;EYE> QTLY DIVIDEND</TITLE>
<DATELINE>    PALO ALTO, Calif., March 25 -
    </DATELINE><BODY>Shr 10 cts vs 10 cts prior qtr
    Pay April 17
    Record April 9.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15102" NEWID="9581">
<DATE>25-MAR-1987 16:13:38.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2348&#31;reute
u f BC-UAL-&lt;UAL>-SURROUNDED   03-25 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>UAL &lt;UAL> SURROUNDED BY TAKEOVER SPECULATION</TITLE>
<AUTHOR>    By Patti Domm</AUTHOR>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>UAL Inc's diversification into hotels
and rental cars may be its downfall, analysts said.
    Digesting its acquisitions of hotels, Pan Am Corp's Pacific
air routes, and Hertz rental cars, combined with stiff air fare
competition has left the company with an undervalued stock
price, analysts said.
    The vulnerability of UAL's stock has fueled takeover
speculation, as have reports that real estate magnate Donald
Trump has bought a large amount of its stock.
    Today, a UAL executive told Reuters its chairman Richard
Ferris spoke with Trump last week. Trump said his interest in
the stock was as an investment, but the executive said the
company does not know how much Trump owns or whether he has any
other plans.
    UAL senior vice president Kurt Stocker said the company
believes its diversification strategy will work since it can
feed customers from one business to another. Several weeks ago,
it announced the new name of Allegis, to be taken in May.
    "The strategy that Dick Ferris was talking about a couple
weeks ago when we announced the Allegis name is that the whole
really ends up to be worth more than the sum of the parts.
Unfortunately, some people haven't really come to this
understanding," Stocker said.
    But those same parts - Westin Hotels, Hertz rental cars,
United Airlines and its reservation system - also has Wall
Street calculating a wide range of breakup values from about
100 dlrs per share to 130 dlrs per share.
    Analysts aren't so sure the strategy is going to work. They
mention Transworld Corp, initially Trans World Airlines,
as an example of an airline diversification gone wrong.
Transworld Corp ended up spinning off its TWA airline.
Transworld, now TW Services, is selling Hilton International to
UAL.
    "If you want to be negatively biased you say it's a stupid
philosophy, and if you're United and you put billions of dlrs
into other acquisitions, this is a good idea. There's not much
evidence one way or the other," said Dean Witter analyst Mark
Daugherty.
    "In the short or long run, they all (UAL's businesses) make
money and perform well," said Stocker. He said the stock price
hasn't caught on since the strategy is relatively new.
    Analysts say it's because earnings are relatively poor.
Earnings last year were 25 cts per share. Louis Marckesano of
Janney Montgomery predicts 1987 net of 3.50 dlrs per share.
    "They're potential is enormous. I think their problem has
been execution. The strike was the single biggest factor that
set them back in 1985. Last year, the whole industry was
involved in fare wars. They were hit harder by the fare wars
than anyone else," said Marckesano.
    Marckesano said United Airlines was particularly hurt by
the fare wars because it shares a Denver hub with Texas Air
Corp's price-slashing Continental Airlines.
    Analysts said the same strategy which has contributed to an
undervalued stock price may also result in a strong takeover
defense. They said UAL paid a lot for some of its assets and
that in itself may make the company undesireable.
    "I think they have a fairly tough management that will at
least be able to do battle with a potential shark and may well
be able to defeat them. These guys aren't pushovers," said
Steve Lewins, an airline analyst at Citicorp.
    Lewins believes the company could ultimately boost the
stock price to a level that would reflect its assets, but it
will take time and improvements in earnings.
    "If they put their nose to the grindstone, we're talking
about years for anyone (in the airline industry)," he said.
"The whole unwinding of the battle of Texas Air is going to
take years, establishing the Pacific in competition with (NWA
Inc &lt;NWA>) Northwest is going to take until 1990," Lewins said.
     UAL today rose 2-1/2 to 62-1/2 on heavy volume of 1.9 mln
shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15103" NEWID="9582">
<DATE>25-MAR-1987 16:14:06.69</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;f2350&#31;reute
b f BC-U.S.-SECURITIES-GROUP   03-25 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SECURITIES GROUP BACKS INSIDER RESTRAINTS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Securities Industry Association
backed a variety of restraints on insider trading and hostile
corporate takeovers and asked Congress to define insider
trading in law.
    The industry trade association called on U.S. securities
firms to take steps to protect sensitive corporate secrets to
guard against illegal trading by employees.
    The association also backed broad federal restrictions on a
variety of tactics used in hostile corporate takeovers.
    But it said investment banking firms should be allowed to
continue to engage in both arbitrage and merger and acquisition
activities so long as those functions were kept separate.
    The SIA, in a report adopted yesterday by its board of
directors, backed a higher enforcement budget for the federal
Securities and Exchange Commission and called on U.S. stock
exchanges to beef up their supervision of member brokerages.
    The report said securities firms "should be more rigorous in
restricting sensitive information on a need-to-know basis."
    It said firms should train their employees to understand
the need for confidentiality of market-sensitive information.
    It said legislation to define insider trading should avoid
expanding current law in a way that would impede the market.
    It said an insider trading definition should exempt a
securities firm from liability for law violations by its
employees unless the firm had participated in or was aware of
the wrongdoing.
    In the mergers and acquisitions area, the association
advocated a ban on greenmail payments or poison pill takeover
protection plans without prior shareholder approval.
    It said a group or individual buying up a company's stock
should be required to file a public disclosure statement before
acquiring more than five pct of the company's shares. Under
current law, disclosure may be made as late as ten days after
exceeding the five pct limit.
    The association said all purchases exceeding 20 pct of a
company's voting stock shouls be made only through a tender
offer open to all shareholders. Under current law there is no
limit on open market purchases.
    The group said the federal government should preempt state
regulation of defensive takeover tactics.
    The group said all tender offers should remain open for at
least 30 calendar days.
    The current requirement is expressed in business days.
    It said so-called "lockup" devices, in which securities are
issued to a friendly investor to seal a takeover deal or fend
off an unfriendly predator should be limited to 18.5 pct of the
target company's total common stock.
    Association president Edward O'Brien said the group acted
out of concern over the ad hoc restructuring of corporate
America on Wall Street and investor fears about insider trading
and fairness in the marketplace.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15104" NEWID="9583">
<DATE>25-MAR-1987 16:18:45.80</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;f2360&#31;reute
r f BC-TEXACO-&lt;TX>-RESERVES   03-25 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXACO &lt;TX> RESERVES DOWN DESPITE LOWER OUTPUT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Texaco Inc's oil and gas reserves
declined in 1986 despite reduced production and upward
revisions in the company's previous reserve estimates, its
annual report said.
    The statement of the report's auditor was qualified -- as
was the previous one -- because of the unkonwn final impact of
the judgement won by Pennzoil Co &lt;PZL> against Texaco on
charges Texaco interfered with Pannzoil's contract to acquire
Getty Oil Co.
    The auditor's point out, as Texaco has in the past, the
company's loss of any of several pending court decisions in
this case could cause it "to face prospects such as having to
seek protection of its assets and business pursuant to the
bankruptcy and reorganization provisions of Chapter 11" of the
federal bankruptcy code.
    Commenting on a Texas Court of Appeals ruling which reduced
Pennzoil's judgement by two billion dlrs, to 9.1 billion dlrs,
Texaco said it will file a motion for a rehearing by the
appeals court no later than March 30.
    Texaco said the proven crude oil reserves of the company
and its consolidated subsidiaries totaled 2.54 billion barrels
at the end of 1986, down from 2.69 billion a year earlier.
    However, inclusion of Texaco's equity in the Eastern
Hemisphere reserves of a nonsubsidiary company limited the
decline to 2.91 billion barrels from 3.00 billion at the end of
1985.
    Worldwide production by the consolidated subsidiaries
declined to 341 mln barrels last year from 362 mln in 1985 and
upward revisions in previous reserve estimates rose to 143 mln
barrels from 117 mln, respectively.
    Texaco said the largest drop in reserves came in the United
States -- where the total dropped to 1.46 billion barrels from
1.55 billion.
    The company said U.S. liquids production averaged 660,000
barrels per day last year, down from 714,000 in 1985, with
about 44 pct of the decline -- some 24,000 barrels per day --
representing high-cost production shut-in or curtailed in
response to the decline in crude oil prices during 1986.
    Texaco said its natural gas reserves totaled 8.16 trillion
cubic feet at year end, down from 8.87 trillion cubic feet at
the end of 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15105" NEWID="9584">
<DATE>25-MAR-1987 16:22:57.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2365&#31;reute
r f AM-ecuador   03-25 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>SIX REPORTED WOUNDED IN ECUADOR GENERAL STRIKE</TITLE>
<DATELINE>    QUITO, March 25 - </DATELINE><BODY>At least six persons, including three
soldiers, were reported wounded at the start of a general
strike in Ecuador called to press the government to suspend an
earthquake-related austerity programme.
    The information ministry said workers had partially
complied with the strike. Witnesses said bus transport ground
to a halt in Quito and schools were closed throughout the
country, but banks and shops remained open.
    Three soldiers on a military truck were burned by a
gasoline bomb, information minister Marco Lara told reuters.
    In the central city of Latacunga, three workers were
wounded in clashes with police, unionists and hospital
authorities said. The strike was called for one day but could
be extended.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15106" NEWID="9585">
<DATE>25-MAR-1987 16:27:16.06</DATE>
<TOPICS><D>livestock</D><D>hog</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f2374&#31;reute
d f BC-INT'L-MINERALS-PROJEC   03-25 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>INT'L MINERALS PROJECT TO BOOST HOG LEAN WEIGHT</TITLE>
<DATELINE>    NORTHBROOK, ILL., March 25 - </DATELINE><BODY>International Minerals and
Chemical Corp said its board approved a 50 mln dlrs budget over
the next several years to build production facilities for a
newly developed product to be used to improve the lean weight
of hogs.
    The new product, porcine somatotropin (PST) is described as
a natural bio-synthetic protein that improves the lean weight
and rate of weight gain, as well as reduces the cost of feed
for market hogs, the company said.
    Specific details of the PST production project, including
sites for proposed facilities and engineering plans, were not
disclosed. International Minerals said it set a completion
target for the spring of 1989, by which time necessary Food and
Drug Administration approvals are expected to be obtained.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15107" NEWID="9586">
<DATE>25-MAR-1987 16:27:27.50</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2376&#31;reute
b f BC-******LOMAC-TO-PAY-17   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LOMAC TO PAY 17 MLN DLRS TO CLEAN SITE IN FIRST SUPERFUND-2 SETTLEMENT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15108" NEWID="9587">
<DATE>25-MAR-1987 16:29:02.79</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;f2387&#31;reute
s f BC-PULITZER-PUBLISHING-C   03-25 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>PULITZER PUBLISHING CO &lt;PLTZC> DECLARES QTLY DIV</TITLE>
<DATELINE>    ST. LOUIS, March 25 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay May 1
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15109" NEWID="9588">
<DATE>25-MAR-1987 16:29:05.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2388&#31;reute
s f BC-FEDERAL-CO-&lt;FFF>-SETS   03-25 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERAL CO &lt;FFF> SETS REGULAR PAYOUT</TITLE>
<DATELINE>    MEMPHIS, Tenn., March 25 -
    </DATELINE><BODY>Qtly 29-1/2 cts vs 29-1/2 cts prior
    Payable June 1 
    Record May 1.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15110" NEWID="9589">
<DATE>25-MAR-1987 16:29:32.47</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;f2389&#31;reute
r f BC-transcanada-pipe-sets   03-25 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>TRANSCANADA PIPE &lt;TRP> SETS SHARE REDEMPTION</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>TransCanada PipeLines Ltd said it will
redeem all 1.6 mln outstanding cumulative redeemable
retractable first preferred shares, series F on May 1, 1987 at
a price of 52 dlrs a share, or a total of 83.2 mln dlrs.
    The regular quarterly dividend of 1.795 dlrs a share
payable May 1, 1987 to shareholders of record March 31, will be
mailed separately from the notice of redemption, the company
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15111" NEWID="9590">
<DATE>25-MAR-1987 16:31:20.79</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2391&#31;reute
d f BC-SOUTHWESTERN-BELL-&lt;SB   03-25 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHWESTERN BELL &lt;SBC> SEES EARNINGS DILUTION</TITLE>
<DATELINE>    ST. LOUIS, Mo., March 25 - </DATELINE><BODY>Southwestern Bell Corp said that
its planned acquisitions of cellular telephone and paging
systems, including those of &lt;Metromedia Inc>, will result in
some initial earnings dilution and an increase in debt ratio.
    In a letter to shareholders in its 1986 annual report, the
regional Bell company did not indicate the degree of earnings
dilution it expects from the acquisitions, which total some
1.38 billion dlrs. However, the company said the rise in its
debt ratio will be temporary and will leave its debt level
within an acceptable range.
    In its 1986 yearend financial statement, Southwestern Bell
listed a debt-to-equity ratio of 43.4 pct, down slightly from
43.7 pct in 1985.
    In 1986, the company earned 1.02 billion dlrs, or 10.26
dlrs a share, compared with 996.2 mln dlrs, or 10 dlrs a share
in 1985. Revenues dipped to 7.90 billion dlrs from 7.93 billion
dlrs.
    Southwestern Bell said it expects the new tax law to have a
negative impact on its cash flow, due mainly to the loss of
investment tax credits.
    By mid-year, however, the company said a reduced corporate
tax rate should have a positive impact on its net income and
cash flow.
    In addition, the company said it is projecting a 1.7 pct
gain in customer telephone lines and a three to four pct
increase in long distance calling volumes.
    Southwestern Bell said 1987 capital expenditures will be
lower that the 1.97 billion dlrs spent in 1986, a year in which
expenditures were held below budget.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15112" NEWID="9591">
<DATE>25-MAR-1987 16:33:17.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2392&#31;reute
u f BC-bolivian-debt-buyback   03-25 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIVIAN DEBT BUYBACK PLAN SAID GAINING GROUND</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Bolivia's proposal to repurchase at a
deep discount the 900 mln dlrs it owes to foreign commercial
banks is likely to be accepted, bolivian central bank governor
Javier Nogales Iturri said.
    Speaking to reporters at the annual meeting of the Inter-
American Development Bank, Nogales said Bolivia's bank advisory
committee, led by Bank of America, is seeking permission from
creditor banks worldwide to go ahead with the scheme.
    More than 50 pct of the banks must approve, and Nogales
said he is confident this threshold will be reached.
    "It's working out very well, and I think we'll get a clear
majority," Nogales said.
    A senior banker working on the deal also said that banks
are responding positively and said all the legal waivers
necessary could be obtained within two months.
    Bolivia halted all payments on its commercial bank debt in
March 1984. Hyperinfltion has been curbed and public spending
trimmed, but the country's debt still trades as low as 10 cts
on the dollar on the secondary market, and many banks have
written off most, if not all, of their loans to the country.
    Few bankers see little chance for a subtantive recovery in
Bolivia's economic fortunes and so are willing to collect what
they can on the loans.
    Nogales said Bolivia would offer to buy back the debt at a
market price. He said some banks might want to hold out for a
higher price, but others would see the repurchase offer as an
opportunity to cut their losses.
    Bolivia intends to pay for the repurchase with aid that
foreign goernments, especially the United States and West
Germany, are providing to help finance the eradication of coca
crops. Cocaine, although illegal, is Bolivia's largest export.
    The campaign to persuade farmers to grow legal crops
instead of coca would be financed instead using local currency,
Nogales said.
    Because the fiscal deficit has been reduced to some four
pct of gross domestic product, money supply could be increased
to pay for the drug-eradication drive without too much of n
impact on inflation, he added.
    Nogales said he does not expect Bolivia's debt repurchase
to become a model for other debtors in dire straits. "We're not
seeking a universal solution," he said."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15113" NEWID="9592">
<DATE>25-MAR-1987 16:34:09.06</DATE>
<TOPICS><D>trade</D><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2394&#31;reute
d f AM-BRAZIL-STEEL   03-25 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL WANTS TO INCREASE STEEL EXPORTS TO U.S.</TITLE>
<DATELINE>    RIO DE JANEIRO, MARCH 25 - </DATELINE><BODY>Brazil wants to increase its
steel exports to the United States, now limited because of
tough import restraints set in 1984 by the Reagan
administration, a spokeswoman for the Brazilian Steel Institute
(IBS) said.
    Brazilian and U.S. Trade officials held the first of a
three-day meeting today in Brasilia to discuss the issue.
    In 1984, after three months of painstaking negotiations,
the U.S. Government reached accords with seven steel-exporting
nations - Australia, Brazil, Japan, Mexico, Spain, South Africa
and South Korea - to reduce their shipments to the United
States by about 30 pct in 1985.
    The 1984 restraints established that for 1987 Brazil's
steel exports to the U.S. Could not exceed 632,000 tonnes,
increasing to 640,000 tonnes in 1988 and 670,000 tonnes in
1989, the last of the five-year deadline set by the agreements.
    Brazilian officials are trying to increase Brazil's export
share of non-flat products to the U.S. Market.
    The spokeswoman said there were reports of domestic supply
problems in the United States.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15114" NEWID="9593">
<DATE>25-MAR-1987 16:35:07.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2397&#31;reute
r f BC-XYLOGICS-IN-INITIAL-P   03-25 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>XYLOGICS IN INITIAL PUBLIC OFFERING</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Xylogics Inc is making an initial
public offering of 1,089,300 shares of common stock at 16 dlrs
a share, co-managing underwriters Salomon Brothers Inc and
Cowen and Co said.
    Of the shares being offered, 750,000 are being sold by the
company and the rest by selling shareholders. The company has
granted the underwriters an over-allotment to buy up to 150,000
more shares.
    Proceeds to the company will be used to acquire automated
manufacturing, testing and engineering equipment, to finance
facilities expansion, for working capital and general corporate
purposes.
    The company makes controllers that manage data flow between
computers and peripherals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15115" NEWID="9594">
<DATE>25-MAR-1987 16:35:58.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2398&#31;reute
r f BC-DETROIT-EDISON-&lt;DTE>   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>DETROIT EDISON &lt;DTE> REGISTERS BONDS</TITLE>
<DATELINE>    DETROIT, March 25 - </DATELINE><BODY>Detroit Edison Co said it filed a shelf
registration for the proposed offering of one billion dlrs in
general and refunding mortgage bonds.
    The offering will be underwritten by Morgan Stanley and Co
Inc. Detroit Edison said the bonds will be offered to the
public this year and next, with the first bond sale scheduled
for early next month.
    Net proceeds from the sale will be used to refund
obligations under the company's Belle River Project financing
and to refund or replace funds utilized by the company for the
purpose of meeting debt and equity obligations.
 Reuter

&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15116" NEWID="9595">
<DATE> 25-MAR-1987 16:36:45.83</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2402&#31;reute
f f BC-******S/P-DOWNGRADES   03-25 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P DOWNGRADES DANA CORP'S 900 MLN DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15117" NEWID="9596">
<DATE>25-MAR-1987 16:36:57.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2403&#31;reute
r f BC-ANCHOR-SAVINGS-BANK-O   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ANCHOR SAVINGS BANK OFFERING FULLY SUBSCRIBED</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Anchor Savings Bank said its
subscription offering was fully subscribed, precluding an
underwritten public offering of Anchor stock.
    The company, which will be traded on Nasdaq under the
symbol &lt;ABKR>, said final tabulation has not been completed.
    The offering was made in connection with Anchor's
conversion from a federally chartered mutual savings bank to a
federally chartered stock savings bank, it said.
    The bank offered 15.3 mln shares of common stock at 8.50
dlrs to 11.50 dlrs a share, with the possible issuance of up to
an additional 2,295,000 shares, it said.
    The company said trading in the bank stock will not
commence until all regulatory requirements have been completed.
    Anchor said it had total assets of 7.3 billion dlrs as of
June 30, 1986.
    It said shares were offered to bank depositors, borrowers
and through a direct mail campaign.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15118" NEWID="9597">
<DATE>25-MAR-1987 16:37:24.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2406&#31;reute
f f BC-*****LEAR-SIEGLER-HOL   03-25 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
*****<TITLE>LEAR SIEGLER HOLDING CORP PLANS TO DIVEST AEROSPACE SUBSIDIARY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15119" NEWID="9598">
<DATE>25-MAR-1987 16:38:46.99</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2409&#31;reute
f f BC-varity   03-25 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>VARITY CORP YEAR SHR LOSS 21 CTS VS LOSS 16 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15120" NEWID="9599">
<DATE>25-MAR-1987 16:39:17.72</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;f2411&#31;reute
r f BC-NORDSON-&lt;NDSN>-SETS-3   03-25 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>NORDSON &lt;NDSN> SETS 3-FOR-2 SPLIT</TITLE>
<DATELINE>    WESTLAKE, Ohio, March 25 - </DATELINE><BODY>Nordson Corp said its board
declared a 3-for-2 stock split to be paid as a 50 pct stock
dividend on April 30 to shareholders of record April 10.
    As a result, the number of shares outstanding will increase
to 10.2 mln from 6.8 mln, the maker of industrial equipment
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15121" NEWID="9600">
<DATE>25-MAR-1987 16:40:39.53</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2412&#31;reute
f f BC-******BALDRIGE-SEES-U   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BALDRIGE SEES U.S. TRADE DEFICIT STARTING TO DECLINE IN FEB OR MARCH DATA
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15122" NEWID="9601">
<DATE>25-MAR-1987 16:43:59.13</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;f2419&#31;reute
r f BC-S/P-MAY-UPGRADE-WAINO   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P MAY UPGRADE WAINOCO OIL &lt;WOL></TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Standard and Poor's Corp said it may
upgrade Wainoco Oil Corp's 25 mln dlrs of C-rated subordinated
debentures due 1998.
    S and P cited the company's proposed offering of two mln
units of common stock and warrants, which would raise 25 mln to
30 mln dlrs that would be used to retire bank debt.
    The offering would also result in a significant
strengthening of the company's capital structure, S and P
pointed out. However, the agency said it would also consider
depressed industry conditions and Wainoco's ability to operate
in that environment. Its implied senior debt rating is CCC.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15123" NEWID="9602">
<DATE>25-MAR-1987 16:44:10.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-miller</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2420&#31;reute
u f BC-U.S.-BUDGET-DIRECTOR   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BUDGET DIRECTOR WARNS AGAINST TAX INCREASE</TITLE>
<DATELINE>    Philadelphia, March 25 - </DATELINE><BODY>The director of the Office of
Management and Budget James Miller warned that a tax increase
would jeapordise real U.S. economic growth.
    "It's a bad idea. We don't need more money to balance the
budget. We need to reduce spending and avoid things that would
halt economic expansion," Miller told students at the
University of Pennsylvania's Wharton School.
    "I think economic growth could be threatened mightily if we
have a tax increase or by the perception that we're giving up
on deficit reduction," he said.
    Miller criticised a proposal by House speaker Jim Wright to
put a one pct tax on securities transactions.
    He said the tax would probably be ineffective because
people would avoid by holding their portfolios in other
instruments, like real estate, or simply by not trading as
often.
    Miller said he doubted this proposal would pass.
    "I think it is frankly all but political suicide to
advocate a tax increase unless the president championed it as
well," he said. "And he's not going to do it, in fact he would
veto a tax increase," Miller added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15124" NEWID="9603">
<DATE>25-MAR-1987 16:45:12.23</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2421&#31;reute
b f BC-BALDRIGE-SEES-U.S.-TR   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE SEES U.S. TRADE GAP DROPPING SOON</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Commerce Secretary Malcolm Baldrige
said the U.S. trade deficit should start to decline soon,
possibly in the figures for February or March.
    "We could see the trade deficit start down in February or
March," Baldrige said in an appearance before the Senate
Governmental Affairs Committee.
    He predicted the trade deficit, which was 170 billion dlrs
in 1986, would decline by 30 to 40 billion dlrs in 1987 and in
1988.
    Baldrige said he was making his prediction without having
seen the February trade figures, but he said that the volume of
imports has dropped beginning with the fourth quarter of 1986
and will continue to drop in this quarter.
    The eventual turnaround in the monthly trade figures will
reflect the impact of the decline in the dollar, Baldrige said.
    Ealier, Treasury Secretary James Baker told the committee
that the trade deficit had levelled off, but Baldrige said he
was more optimistic, adding, "I think we turned the corner in
February."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15125" NEWID="9604">
<DATE>25-MAR-1987 16:46:17.80</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2423&#31;reute
r f BC-NORMAL-WORK-RESUMES-A   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>NORMAL WORK RESUMES AT NEW ZEALAND PORTS</TITLE>
<DATELINE>    WELLINGTON, March 26 - </DATELINE><BODY>Normal work has resumed at New
Zealand ports as negotiations between harbour board workers and
employers continue.
    Wellington Harbour Board Workers' Union secretary Ross
Wilson told reporters talks late yesterday ended with agreement
to take unresolved issues before an industrial conciliator.
    Wilson said the only remaining issue is the length of the
union award. The dispute originally was about wage rates and
the form of industry negotiations.
    Cook Strait ferry sailings resumed after Marlborough
Harbour Board workers returned to work this morning, ending
their industrial action a day early.
    The Waterside Workers' Federation, which struck for most of
last week and held more than one mln tonnes of shipping in
ports, meets on Monday and Tuesday in conciliation with the
Waterfront Employers' Association.
    Union Secretary Sam Jennings said: "We've got two days of
talks. If it's not all cleaned up by then ... I don't know what
will happen."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15126" NEWID="9605">
<DATE>25-MAR-1987 16:48:08.89</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;f2429&#31;reute
b f BC-VARITY-CORP-&lt;VAT>-4TH   03-25 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>VARITY CORP &lt;VAT> 4TH QTR JAN 31 LOSS</TITLE>
<DATELINE>    TORONTO, March 25 -
    </DATELINE><BODY>Shr loss 13 cts vs loss one ct
    Net loss 18,600,000 vs profit 3,300,000
    Revs 394.0 mln vs 351.0 mln
    YEAR
    Shr loss 21 cts vs loss 16 cts
    Net loss 23,300,000 vs profit 3,900,000
    Revs 1.36 billion vs 1.29 billion
    Note: Current yr loss includes reorganization charge of
15.2 mln dlrs vs yr-ago reorganization charge of 17.6 mln dlrs.
    Shr after preferred divs.
    U.S. dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15127" NEWID="9606">
<DATE>25-MAR-1987 16:50:53.27</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;f2440&#31;reute
h f BC-INDIANA-FEDERAL-&lt;IFSL   03-25 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIANA FEDERAL &lt;IFSL> 4TH QTR NET</TITLE>
<DATELINE>    VALPARAISO, Ind., March 25 -
    </DATELINE><BODY>Net 492,000 vs 677,000
    Year
    Net 2,650,000 vs 2,566,000
    NOTE: Company's full name is Indiana Federal Savings and
Loan Association. Per share information not available. Bank
went public on February 11, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15131" NEWID="9607">
<DATE>25-MAR-1987 16:51:57.93</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2444&#31;reute
u f BC-LEAR-SIEGLER-HOLDING   03-25 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>LEAR-SIEGLER HOLDING TO DIVEST AEROSPACE UNIT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Forstmann Little and Co said Lear
Siegler Holding Corp plans to divest its aerospace group
subsidiary, comprised of the Defense Electronics Group and the
Components Group.
    Divestitures had been expected since Lear-Siegler, a
diversified conglomerate, was acquired last December in a 2.1-
billion-dlr-leveraged buyout by the Wall Street firm of
Forstmann Little.
    Lear's aerospace group revenues for fiscal 1987 are
expected to be about 700 mln dlrs, said Forstmann.
    The Defense Electronics Group designs and manufactures
weapons, management systems, flight control systems, remotely
piloted vehicles and reference and navigation systems, mainly
for military markets.
    The Defense Group subsidiaries are Astronics Corp, which is
based in Santa Monica, Calif., and employs 1,076 people;
Instrument and Avionic Systems Corp, based in Grand Rapids,
Mich., and employs 3,479 people; International Corp, based in
Stamford, Conn., and employs 266 people; and Development
Sciences Corp, based in Ontario, Calif., and employs 237
people.
    The Components Group manufactures pumps, bearings, and
other industrial components as well as nuclear control drive
rod mechanisms and valves.
    The Group's subsidiaries include Power Equipment Corp,
based in Cleveland, which employs 880 people; Energy Products
Corp, based in Santa Ana, Calif., which employs 755 people; 
Romek Corp, based in Elyria, Ohio, which employs 262 people;
and Transport Dynamics in Santa Ana, which employs 254 people.
    Overall, Lear's Aerospace Group's eight subsidiaries
employs 7,200 people.
    Lear Siegler said it plans to retain Management Services
Corp, engaged in aircraft maintenance modification for various
Department of Defense agencies.
    Morgan Stanley and Co will act as financial advsiors for
the group's divestitures.
    Last month, Lear Siegler said it planned to sell its Smith
and Wesson handgun business, Starcraft Recreational Products
Ltd, the Peerless truck trailer operations, and other units, as
part of its restructuring plans.
    Lear apparently will retain its Piper Aircraft unit.
     Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15128" NEWID="9608">
<DATE>25-MAR-1987 16:54:47.68</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;f2456&#31;reute
d f BC-RUBBERMAID-&lt;RBD>-COMP   03-25 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>RUBBERMAID &lt;RBD> COMPLETES ACQUISITIONS</TITLE>
<DATELINE>    WOOSTER, Ohio, March 25 - </DATELINE><BODY>Rubbermaid Inc said it completed
the previously announced acquisitions of Viking Brush Ltd, a
Canadian maker of brushes, brooms and other cleaning aids, and
the Little Tikes' manufacturing licensee in Ireland.
    Terms were not disclosed.
    The acquisition of the Tikes' licensee is part of the
expansion of Little Tikes in the European toy market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15129" NEWID="9609">
<DATE>25-MAR-1987 16:59:14.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2468&#31;reute
r f BC-KANSAS-POWER-AND-LIGH   03-25 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>KANSAS POWER AND LIGHT &lt;KAN> CHAIRMAN LEAVING</TITLE>
<DATELINE>    TOPEKA, Kan., March 25 - </DATELINE><BODY>Kansas Power and Light Co said it
will name a successor on or before May 5 to its outgoing
chairman and chief executive officer William Wall.
    Wall, who will assume the position of chairman and chief
executive officer at Asbestos Claims Facility, will fill the
positions which have been vacant for several months, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15130" NEWID="9610">
<DATE>25-MAR-1987 17:02:21.55</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;f2473&#31;reute
r f BC-CRYSTAL-OIL-CO-&lt;COR>   03-25 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>CRYSTAL OIL CO &lt;COR> 4TH QTR LOSS</TITLE>
<DATELINE>    NEW YORK, March 25 - 
    </DATELINE><BODY>Oper shr loss 16 cts vs loss 44 cts
    Oper net loss 8,926,000 vs loss 14.4 mln
    Revs 9,920,000 vs 21.2 mln
    Year
    Oper shr loss 4.30 dlrs vs loss 2.24 dlrs
    Oper net loss 221.8 mln vs loss 53.7 mln
    Revs 51.4 mln vs 94.4 mln
    Note: Oper net excludes losses from discontinued operations
of 228,000 dlrs vs 4,253,000 dlrs for qtr and 10.4 mln dlrs vs
14.2 mln dlrs for year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15132" NEWID="9611">
<DATE>25-MAR-1987 17:05:21.34</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;f2480&#31;reute
d f BC-CHEMFIX-TECHNOLOGIES   03-25 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEMFIX TECHNOLOGIES &lt;CFIX> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    NEW ORLEANS, March 25 -
    </DATELINE><BODY>Shr profit one ct vs loss four cts
    Net profit 53,040 vs loss 255,568
    Rev 2,252,246 vs 755,605
    Six months
    Shr profit three cts vs loss eight cts
    Net profit 217,884 vs loss 517,538
    Rev 4.9 mln vs 1.6 mln
    NOTE: Company's full name is Chemfix Technologies Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15133" NEWID="9612">
<DATE>25-MAR-1987 17:05:35.21</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2481&#31;reute
s f BC-FEDERAL-MOGUL-CORP-&lt;F   03-25 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERAL-MOGUL CORP &lt;FMO> SETS REGULAR DIVIDEND</TITLE>
<DATELINE>    SOUTHFIELD, Mich., March 25 - 
    </DATELINE><BODY>Qtly div 40 cts vs 40 cts prior
    Pay June 10
    Record May 27
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15134" NEWID="9613">
<DATE>25-MAR-1987 17:08:43.52</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;f2490&#31;reute
s f BC-IOWA-RESOURCES-INC-&lt;I   03-25 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>IOWA RESOURCES INC &lt;IOR> DECLARES QTLY DIVIDEND</TITLE>
<DATELINE>    DES MOINES, March 25 -
    </DATELINE><BODY>Qtly div 41 cts vs 41 cts prior
    Pay May 1
    Record April 8
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15135" NEWID="9614">
<DATE>25-MAR-1987 17:10:12.87</DATE>
<TOPICS><D>crude</D><D>gas</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2492&#31;reute
f f BC-wkly-distillate   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EIA SAYS DISTILLATE STOCKS OFF 3.2 MLN BBLS, GASOLINE UP 2.2 MLN, CRUDE UP 7.5 MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15136" NEWID="9615">
<DATE>25-MAR-1987 17:10:22.52</DATE>
<TOPICS><D>housing</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2493&#31;reute
u f BC-U.S.-HOME-RESALES-UP   03-25 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOME RESALES UP IN FEBRUARY, REALTORS SAY</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The National Association of Realtors
said sales of previously owned homes rose six pct during
February from January levels to a seasonally adjusted annual
rate of 3.69 mln units.
    The realtors' group said the sales rise was apparent across
the country and reflected lower mortgage interest rates as well
as more housing demand.
    Actual resales of homes during February totaled 241,000, up
11.6 pct from the January total of 216,000, the association
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15137" NEWID="9616">
<DATE>25-MAR-1987 17:11:10.75</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;f2496&#31;reute
r f BC-EL-PASO-ELECTRIC-&lt;ELP   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>EL PASO ELECTRIC &lt;ELPA> TO BUY BACK BONDS</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>El Paso Electric Co said it plans to
redeem its 40 mln dlrs of 16.35 pct first mortgage bonds of
1991 and 60 mln dlrs of 16.20 pct first mortgage bonds of 2012.
    It will buy back at par plus accrued interest the 16.35 pct
issue in May and the 16.20 pct bonds after August one.
    El Paso Electric will use proceeds of about 684.4 mln dlrs
from sales and leasebacks, completed in 1986, of its entire
ownership interest in Palo Verde nuclear generating station
Unit 2 to redeem the double-digit debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15138" NEWID="9617">
<DATE>25-MAR-1987 17:11:51.77</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;f2498&#31;reute
u f BC-LOWER-U.S.-SOYBEAN-LO   03-25 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>LOWER U.S. SOYBEAN LOAN IDEA SHARPLY CRITICIZED</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>U.S. soybean lobbyists and
congressional aides criticized a proposal from a senior
Agriculture Department official that Congress allow the U.S.
soybean loan level to be officially lowered to 4.56 dlrs per
bushel next year.
    "I don't know who in Congress would propose that happening.
Politically it would be totally unacceptable," an aide to a
senior farm-state senator said.
    USDA undersecretary Daniel Amstutz said this week that
Congress should give USDA authority to keep the soybean loan 
at its current effective rate of 4.56 dlrs per bushel rather
than increasing it to its minimum allowed level of 4.77 dlrs.
    "I'm convinced that Congress will not go along with this,"
American Soybean Association President Dave Haggard said.
    Amstutz told reporters following a senate hearing that if
the soybean loan rate were 4.56 dlrs, USDA could then consider
ways to make U.S. soybeans more competitive.
    His comments were seen as possibly indicating what the  the
administration's position is in the debate over what should be
done to make soybeans competitive and at the same time protect
soybean farmers' income.
    Using soybean specific certificates to further buydown the
loan rate or implementation of a marketing loan have been
pointed to as the most effective ways to get soybean prices
competitive. USDA secretary Richard Lyng, however, continues to
maintain his opposition to a marketing loan, saying such a move
would be too costly.
    "There will be alot of other options that will be
considered before Congress looks at that one (the Amstutz
proposal," said Bill O'Conner, aide to Rep. Edward Madigan
(R-Ill), ranking minority leader of the Agriculture Committee.
    "Anybody representing large groups of soybean producers
would not be very excited about supporting a lower soybean
loan," O'Conner said.
    Congress may very likely look at the soybean loan and
decide that they cannot increase it from its current 5.02 dlr
basic rate, but that there has to be something mandated to
increase soybean's competitiveness, David Graves, aide to Sen.
Thad Cochran (R-Miss) said. Cochran, a staunch supporter of a
soybean marketing loan, would support a soybean loan of 5.02 or
4.77 dlrs with a certificate buydown, Graves said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15139" NEWID="9618">
<DATE>25-MAR-1987 17:12:39.13</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2501&#31;reute
r f BC-FIDUCIARY-TRUST-CO-IN   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>FIDUCIARY TRUST CO IN FIVE-FOR-ONE STOCK SPLIT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>&lt;Fiduciary Trust Co International>
said its shareholders at the annual meeting approved a
five-for-one stock split effective May 15, 1987, to holders of
record on April 15, 1987.
    The company said the split would increase the number of
authorized common shares from 440,000 to 2,200,000 shares
issued. In addition, the company said it authorized another
800,000 shares, but would not issue them at this time.
    The company also changed the stock's par value from 10 dlrs
a share to 2.50 dlrs a share.
    It explained it transferred 1,100,000 dlrs from its
undivided profits account to its capital account in order to
raise the new par value from two dlrs, under the five-for-one
split, to 2.50 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15140" NEWID="9619">
<DATE>25-MAR-1987 17:13:39.17</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2505&#31;reute
d f BC-MODULAIRE-&lt;MODX>-BUYS   03-25 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>MODULAIRE &lt;MODX> BUYS BOISE HOMES PROPERTY</TITLE>
<DATELINE>    SAN FRANCISCO, March 25 - </DATELINE><BODY>Modulaire Industries said it
acquired the design library and manufacturing rights of
privately-owned Boise Homes for an undisclosed amount of cash.
    Boise Homes sold commercial and residential prefabricated
structures, Modulaire said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15141" NEWID="9620">
<DATE>25-MAR-1987 17:15:33.02</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM A
&#22;&#22;&#1;f2512&#31;reute
f f BC-******U.S.-HOUSE-PANE   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. HOUSE PANEL ADOPTS BILL THAT COULD BAR JAPANESE PRIMARY DEALERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15142" NEWID="9621">
<DATE>25-MAR-1987 17:16:27.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2513&#31;reute
u f BC-LITTLE-SUPPORT-FOR-MA   03-25 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>LITTLE SUPPORT FOR MANDATORY ACREAGE CUTS - LYNG</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>U.S. Agriculture Secretary Richard
Lyng said he believes proposed legislation calling for
mandatory acreage reductions has little support in Congress and
voiced Reagan administration opposition to it.
    "The administration would be very much opposed to that
legislation," he told a Virginia Farm Bureau lunch.
    "But fortunately I don't detect a strong interest in that
legislation." He added, "I doubt there will be (enough) support
to get it out."
    The controversial bill, supported by Representative Richard
Gephardt, a Missouri Democrat, calls for a national referendum
to be conducted that could result in mandatory unpaid acreage
cuts of up to 35 pct, paid land diversion beyond that level if
necessary and a marketing quota.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15143" NEWID="9622">
<DATE>25-MAR-1987 17:16:49.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2514&#31;reute
r f BC-UAL-&lt;UAL>-UNIT-LINKS   03-25 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>UAL &lt;UAL> UNIT LINKS RESERVATION SERVICE</TITLE>
<DATELINE>    CHICAGO, March 25 - </DATELINE><BODY>UAL Inc, which on May 1 becomes Allegis
Corp, said it established a direct communications link between
its Apollo Services reservations system and Budget Rent a Car,
Hilton Hotels and Hilton International Hotels.
    Under the new system, all Budget, Hilton and Hilton
International hotel reservations made through Apollo, which is
owned by UAL's Covia Corp, will pass the ARINC system and speed
up time it takes to complete a traveler's reservation, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15144" NEWID="9623">
<DATE>25-MAR-1987 17:17:37.73</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;f2518&#31;reute
b f BC-DANA-CORP-&lt;DCN>-DEBT   03-25 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>DANA CORP &lt;DCN> DEBT LOWERED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded Dana Corp's 900 mln dlrs of debt securities.
    Cut were Dana's senior debentures, industrial revenue bonds
and medium-term notes to A-minus from A, and commercial paper
of Dana and its unit Dana Credit Corp to A-2 from A-1.
    S and P said Dana's management plans an aggressive stock
repuchase which would result in a significantly more leveraged
capital structure. The combination of higher debt levels and
ongoing stock repurchases, about 12 mln shares in the past two
years financed mainly with debt, bring debt leverage to 48 pct
as of December 31, 1986 from 30 pct the year earlier.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15145" NEWID="9624">
<DATE>25-MAR-1987 17:18:18.55</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;f2520&#31;reute
r f BC-MINNESOTA-POWER-&lt;MPL>   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>MINNESOTA POWER &lt;MPL> SELLS SEVEN-YEAR BONDS</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Minnesota Power and Light Co is
raising 55 mln dlrs through an offering of first and refunding
mortgage bonds due 1994 with a 7-3/4 pct coupon and par
pricing, said sole manager PaineWebber Inc.
    That is 68 basis points more than the yield of comparable
Treasury securities.
    Non-callable for five years, the issue is rated A-2 by
Moody's Investors Service Inc and A-plus by Standard and Poor's
Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15146" NEWID="9625">
<DATE>25-MAR-1987 17:19:21.62</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2521&#31;reute
r f BC-LA-QUINTA-MOTOR-INNS   03-25 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>LA QUINTA MOTOR INNS INC&lt;LQM>3RD QTR FEB 28 NET</TITLE>
<DATELINE>    SAN ANTONIO, Texas, March 25 - 
    </DATELINE><BODY>Shr profit 25 cts vs loss nine cts
    Net profit 3,433,000 vs loss 1,310,000
    Revs 37.1 mln vs 39.0 mln
    Nine mths
    Shr profit 28 cts vs profit 27 cts
    Net profit 3,883,000 vs profit 3,908,000
    Revs 133.2 mln vs 132.0 mln
    Avg shrs 13.8 mln vs 14.2 mln
    Note: Current net includes gain on sale of 31 inns of
7,719,000 dlrs for qtr and 7,975,000 dlrs for nine mths.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15147" NEWID="9626">
<DATE>25-MAR-1987 17:20:20.87</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2524&#31;reute
b f BC-KANSAS-CITY-SOUTHERN   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>KANSAS CITY SOUTHERN INDUSTRIES SAYS IT EAGER TO PURCHASE SOUTHERN PACIFIC RAILROAD
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15148" NEWID="9627">
<DATE>25-MAR-1987 17:21:09.22</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;f2527&#31;reute
u f BC-FNMA-ANNOUNCES-10-AND   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>FNMA ANNOUNCES 10 AND 20-YEAR MORTGAGE PRODUCTS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Federal National Mortgage
Association said it will begin purchasing 10 and 20-year fixed
rate mortgages in addition to 15 and 30 year mortgages.
    It said the new intermediate term mortgage purchase
programs are designed to offer home buyers more home financing
flexibility.
    Edward J. Pinto, FNMA's Senior Vice President, said
intermediate term mortgages offer "lower interest rates,
substantial interest savings, lower inflation rates and, in
many cases, faster equity build-up" than longer-term mortgages.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15149" NEWID="9628">
<DATE>25-MAR-1987 17:22:23.14</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2532&#31;reute
d f BC-U.S.-CHIPMAKERS-URGE   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CHIPMAKERS URGE SANCTIONS AGAINST JAPAN</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Semiconductor Industry
Association urged the U.S. government to impose trade sanctions
against Japan for violating the U.S.-Japan Semiconductor Trade
Agreement.
    In a letter to Treasury Secretary James Baker the group
said sanctions should be imposed against Japanese chipmakers as
of April 1 and should continue until the United States is
satisfied that there is full compliance with the agreement.
    The group said action by Japan to cut back on semiconductor
exports is not what is required.
    "America's interests require that agreements be honored and
that U.S. industries not bear the burden for the persistent
unwillingness or inability of the government of Japan to
deliver on its commitments," the trade group said.
    The White House Economic Policy Council is expected to
discuss possible sanctions against Japan at a meeting scheduled
for Thursday.
    The trade group said Japan has not lived up to the terms of
the agreement last year which was aimed at ending Japanese
dumping of semiconductors and at opening Japanese markets to
foreign-based manufacturers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15150" NEWID="9629">
<DATE>25-MAR-1987 17:25:22.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2543&#31;reute
b f BC-/U.S.-LEGISLATION-COU   03-25 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. LEGISLATION COULD BAR JAPANESE DEALERS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The House Banking Committee approved
legislation to bar foreign securities firms from designation as
primary dealers in U.S. government securities unless the
relevant foreign government allows U.S. securities firms the
same trading rights.
    The impact of the proposed legislation would be on three
Japanese securities firms already doing business in the U.S.,
an aide to the sponsor of the provision Rep. Charles Schumer
said. Japan would have six months to open its government
securities markets to U.S. firms before the ban would start.
Other foreign firms would meet the test of reciprocal access.
    The legislation was approved as part of a major trade bill,
which the House will consider next month. The bill also has to
be considered by the Senate and signed by the president.
    The three Japanese firms are Nomura Securities Co. and
Daiwa Securities Co., which received approval from the U.S.
Federal Reserve Board to serve as primary dealers, and Aubrey
G. Lanston Co., owned by the Industrial Bank of Japan.
    Schumer, a New York Democrat, said the Fed would not be
allowed to designate any new firms as primary dealers unless
their government allows reciprocal access to U.S. companies.
Both the House and Senate Banking Committees opposed the Fed
action on the two Japanese firms.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15151" NEWID="9630">
<DATE>25-MAR-1987 17:28:31.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2546&#31;reute
u f BC-BOLIVIAN-DEBT-BUYBACK   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIVIAN DEBT BUYBACK PLAN GAINS GROUND</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Bolivia's proposal to repurchase at a
deep discount the 900 mln dlrs it owes to foreign commercial
banks is likely to be accepted, central bank governor Javier
Nogales Iturri said.
    Speaking to reporters at the annual meeting of the
Inter-American Development Bank (IADB) here, Nogales said
Bolivia's bank advisory committee, led by Bank of America, is
seeking permission from creditor banks worldwide to go ahead
with the scheme. More than 50 pct of the banks must give their
approval, and Nogales said he is confident that this threshold
will be reached.
    "It's working out very well, and I think we'll get clear
majority," Nogales said.
    A senior banker working on the deal also said that banks
are responding positively and said all the legal waivers
necessary could be obtained within two months.
    Bolivia halted all payments on its commercial bank debt in
March 1984. Hyperinflation has been curbed and public spending
trimmed, but its debt is still trading as low as 10 cts on the
dollar on the secondary market and many banks have written off
most, if not all, of their loans to the country.
    Bankers see little chance for a substantive recovery in
Bolivia's economic fortunes and so are willing to collect what
they can on the loans.
    Nogales said Bolivia would offer to buy back the debt at a
market price. He said some banks might want to hold out for a
higher price, but others would see the repurchase offer as a
window of opportunity to cut their losses.
    Bolivia intends to pay for the repurchase with aid that
foreign governments, especially the United States and West
Germany, are providing to help finance the eradication of coca
crops. Cocaine, although illegal, is Bolivia's largest export.
    The campaign to persuade farmers to grow legal crops
instead of coca would be financed instead using local currency,
Nogales said.
    Because the fiscal deficit has been reduced to some four
pct of gross domestic product, money supply could be increased
to pay for the drug-eradication drive without too much of n
impact on inflation, he added.
    Nogales said he did not expect Bolivia's debt repurchase to
become a model for other debtors in dire straits. "We're not
seeking a universal solution," he said."             
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15152" NEWID="9631">
<DATE>25-MAR-1987 17:28:44.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2547&#31;reute
u f BC-pdvsa-chooses-arco-ag   03-25 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>PDVSA PICKS ARCO-AGIP CONSORTIUM IN COAL VENTURE</TITLE>
<DATELINE>    CARACAS, March 25 - </DATELINE><BODY>Petroleos de Venezuela S.A. chose a
consortium formed by Atlantic Richfield Co &lt;ARC> and Italy's
Agip-Carbone to exploit the coal deposits at Guanare in western
Zulia state, PDVSA president Juan Chacin Guzman said.
    Chacin said PDVSA will sign a letter of intent next month
to form a partnership with the consortium, which consists of
Arco's Venezuelan subsidiary ACC Venezuela Inc, and Agip, a
subsidiary of Italy's &lt;Eni>.
    He said the consortium, which will own 48 pct of the joint
venture, may be expanded later to include Carboex of Spain.
PDVSA will have controlling interest of 49 pct in Carbozulia.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15153" NEWID="9632">
<DATE>25-MAR-1987 17:30:52.02</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2549&#31;reute
f f BC-******S/P-DOWNGRADES   03-25 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P DOWNGRADES CHASE, CHEMICAL, IRVING, MANUFACTURERS, MELLON AND SECURITY PACIFIC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15154" NEWID="9633">
<DATE>25-MAR-1987 17:32:04.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2551&#31;reute
r f BC-ICN-&lt;ICN>-SAYS-KODAK   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ICN &lt;ICN> SAYS KODAK SALE WILL NOT AFFECT R/D</TITLE>
<DATELINE>    COSTA MESA, Calif., March 25 - </DATELINE><BODY>ICN Pharmaceutical Inc said
it did not view Eastman Kodak Co's &lt;EK> decision to sell its
2.3 pct share of ICN's common stock as having any effect on the
status of its drug ribavirin or the previously reported ongoing
development of that drug in the antiviral field.
    ICN recently submitted data to the Food and Drug
Administration on studies using its antiviral drug ribavirin
for treating some AIDS-related disorders.
    In a statement, ICN also said the sale will not effect its
previously announced plans to seek an acquisition of a major
pharmaceutical company.
    ICN also said the planned sale will have no effect on its
long-term research partnership with Kodak and Kodak's continued
funding of the Nucleic Acid Research Institute.
    Two years ago Kodak agreed to invest 45 mln dlrs over six
years to form and operate a venture with ICN to explore new
biomedical compounds. It acquired a 2.3 pct stake in ICN as a
result of that agreement.
    ICN said Kodak today confirmed to ICN its continuing
confidence in the progress of the joint project.
    ICN also said although there were discussions today between
ICN and Kodak regarding a private sale of the shares to ICN, no
decision has been made on this matter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15155" NEWID="9634">
<DATE>25-MAR-1987 17:33:23.27</DATE>
<TOPICS><D>crude</D><D>gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2554&#31;reute
u f BC-RECENT-U.S.-OIL-DEMAN   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>RECENT U.S. OIL DEMAND UP 0.1 PCT FROM YEAR AGO</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>U.S. oil demand as measured by
products supplied rose 0.1 pct in the four weeks ended March 20
to 16.16 mln barrels per day from 16.15 mln in the same period
a year ago, the Energy Information Administration (EIA) said.
    In its weekly petroleum status report, the Energy
Department agency said distillate demand was off 0.1 pct in the
period to 3.258 mln bpd from 3.260 mln a year earlier.
    Gasoline demand averaged 6.72 mln bpd, off 1.2 pct from
6.80 mln last year, while residual fuel demand was 1.38 mln
bpd, off 2.1 pct from 1.41 mln, the EIA said.
    Domestic crude oil production was estimated at 8.35 mln
bpd, down 7.8 pct from 9.06 mln a year ago, and gross daily
crude imports (excluding those for the SPR) averaged 3.44 mln
bpd, up 16.3 pct from 2.95 mln, the EIA said.
    Refinery crude runs in the four weeks were 11.90 mln bpd,
up 1.4 pct from 11.74 mln a year earlier, it said.
    In the first 78 days of the year, refinery runs were up 1.8
pct to an average 12.25 mln bpd from 12.04 mln in the year-ago
period, the EIA said.
    Year-to-date demand for all petroleum products averaged
16.32 mln bpd, up 1.8 pct from 16.04 mln in 1986, it said.
    So far this year, distillate demand rose 0.1 pct to 3.31
mln bpd from 3.30 mln in 1986, gasoline demand was 6.60 mln
bpd, up 0.1 pct from 6.59 mln, and residual fuel demand fell
0.4 pct to 1.42 mln bpd from 1.43 mln, the EIA said.
    Year-to-date domestic crude output was estimated at 8.41
mln bpd, off 7.7 pct from 9.11 mln a year ago, while gross
crude imports averaged 3.96 mln bpd, up 28.1 pct from 3.09 mln,
it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15156" NEWID="9635">
<DATE>25-MAR-1987 17:37:31.96</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f2572&#31;reute
b f BC-******FED-APPROVES-CH   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED APPROVES CHEMICAL BANK ACQUISITION OF TEXAS COMMERCE BANCSHARES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15157" NEWID="9636">
<DATE>25-MAR-1987 17:38:22.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>argentina</D><D>brazil</D><D>mexico</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F
&#22;&#22;&#1;f2574&#31;reute
b f BC-/S/P-DOWNGRADES-SIX-U   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P DOWNGRADES SIX U.S. MONEY CENTER BANKS</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded six U.S. money center bank holding companies,
affecting about 13.3 billion dlrs of debt securities.
    They are Chase Manhattan Corp &lt;CMB>, Chemical New York Corp
&lt;CHL>, Irving Bank Corp &lt;V>, Manufacturers Hanover Corp &lt;MHC>,
Mellon Financial Corp &lt;MEL> and Security Pacific Corp &lt;SPC>.
    S and P said the action on Chase, Chemical, Irving and
Manufacturers primarily reflected continued vulnerability to
lesser developed countries and median financial performance.
    Standard and Poor's said its downgrade of Chemical also
reflected that holding company's acquisition of Texas Commerce
Bancshares &lt;TCB>, which was just now approved by the Federal
Reserve.
    For Mellon and Security Pacific, S and P cited higher
non-performing assets and weaker operating earnings.
    The rating agency said it completed a review, based on 1986
results, of the largest U.S. bank holding companies. It paid
special attention to reassessing the effect of exposures to
lesser developed countries on the holding companies' earnings
and capital.
    "Brazil's unilateral moratorium on debt service payments
underscored the potential for polarization between bankers and
debtor countries," S and P said.
    S and P noted that while Argentina, Brazil, Mexico and
Venezuela each face unique economic problems, the lack of
progress toward moderating their debt service burdens has been
disappointing.
    However, the agency pointed out that a substantive
improvement in the large banks' financial positions has acted
as a counter-balance to the Latin American debt situation.
    Citing increasing financial strength, S and P said it
affirmed the debt ratings of Citicorp &lt;CCI>, Bankers Trust New
York Corp &lt;BT>, Bank of Boston Corp &lt;BKB> and J.P. Morgan and
Co Inc &lt;JPM>.
    S and P noted that most U.S. bank holding companies have
what it termed easily realizable capital resources available to
them, such as undervalued real estate, appreciated portfolio
securities and overfunded pension plans.
    "Most bank managements appear committed to improving the
quality of their balance sheets," S and P said, noting many now
emphasize long-term strategies over short-term earnings.
    Standard and Poor's reduced Chase Manhattan's senior debt
to AA-minus from AA, subordinated debt to A-plus from AA-minus
and preferred stock to A from A-plus. The commercial paper of
the parent and its unit Chase Manhattan Bank of Canada were
affirmed at A-1-plus.
    Chase has 3.2 billion dlrs of debt outstanding. It has 6.4
billion dlrs of loans to Argentina, Brazil, Mexico and
Venezuela - one of the highest exposures to lesser developed
countries among U.S. money centers.
    Chase's underlying profitability remains at median levels
because of its high expense structure, S and P said.
    S and P cut Chemical's and the unit Chemical New York
N.V.'s senior debt to AA-minus from AA and subordinated debt to
A-plus from AA-minus.
    About 1.2 billion dlrs of long-term debt was affected.
    The agency cited Chemical's relatively large exposure to
Latin American borrowers, particulary Brazil and Mexico,
continued high levels of nonperforming assets and the pending
acquisition of Texas Commerce.
    Aggregate exposure to Argentina, Brazil, Mexico and
Venezuela was almost four billion dlrs at year-end 1986, or 105
pct of equity and reserves, S and P pointed out.
    Irving's senior debt was reduced to A-plus from AA-minus,
with subordinated debt and preferred stock lowered to A from
A-plus. Its commercial paper was affirmed at A-111-1plus.
    Irving has about 500 mln dlrs of debt outstanding. Its
approximately 1.4 billion dlrs of loans to the four major Latin
debtor countries account for 110 pct of year-end equity and
reserves.
    S and P downgraded Manufacturers Hanover's senior debt to A
from A-plus, subordinated debt to A-minus from A and preferred
stock to BBB-plus from A-minus but affirmed its A-1 commercial
paper. The bank has 3.8 billion dlrs of debt.
    S and P noted that Manufacturers has about 6.7 billion dlrs
of loans to the major Latin debtor nations and has experienced
weak earnings.
    However, the unit CIT Group Holdings Inc's AA-minus senior
debt and A-1-plus commercial paper were affirmed.
    The rating agency cut Mellon's senior debt to A-plus from
AA and preferred stock to A from AA-minus. It has 1.1 billion
dlrs of debt securities.
    The commercial paper programs of Mellon Bank Canada and
Mellon Australia Ltd, guaranteed by the parent company, were
lowered to A-1 from A-1-plus.
    S and P cited continued lower operating earnings and rising
nonperforming assets and charge-offs for Mellon.
    Security Pacific's 1.7 billion dlrs of debt was downgraded.
Cut were its senior debt to AA from AA-plus, and subordinated
debt and preferred stock to AA-minus from AA.
    Security Pacific Overseas Finance N.V.'s debt issues were
reduced to AA from AA-plus. Affirmed were the parent's A-1-plus
commercial paper and the BBB-rated debt of the unit Security
Pacific Financial Systems.
    These actions reflected Security Pacific's continued high
levels of nonperforming assets and charge-offs, S and P said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15158" NEWID="9637">
<DATE>25-MAR-1987 17:39:49.41</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;f2576&#31;reute
r f BC-KANSAS-CITY-SOUTHERN   03-25 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>KANSAS CITY &lt;KSU> READY TO BUY SOUTHERN PACIFIC</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Kansas City Southern Industries Inc
said it is ready to promptly purchase the Southern Pacific
Transportation Co from Santa Fe Southern Pacific Corp &lt;SFX> if
the Interstate Commerce Commission rejects Sante Fe's attempt
to reopen the merger of Southern and the Atchison, Tokepa and
Santa Fe Railway.
    In a filing with the ICC late today, the company outlined
four conditions of its offer to acquire Southern Pacific.
    Among the conditions are that Santa Fe enter into an
agreement to indemnify Kansas City for any contigent liabilites
of Southern Pacific existing as of the closing date, and that
the financial condition of Southern remain largely unchanged
from today onward.
    "We are willing, even eager, to make a fair market value
offer in cash for the Southern Pacific," said Kansas City
Southern president and chief executive officer Landon H.
Rowland.
    "This offer disproves the constant derogation of the
Sourthern Pacific by SFSP management, best exemplified by SFSP
Chief Executive John Schmidt's comment in ICC hearings that the
Southern Pacific was 'bankrupt,'" said Rowland.
    He said that merging Southern with Kansas City will achieve
the benefits of an end-to-end merger while preseving the
independece of the Southern Pacific versus its existing prime
competitor, Santa Fe.
    Kansas said that Southern's management had estimated the
value of the railroad in 1983 in the range of 281 mln dlrs to
1.2 billion dlrs.
    It said that Morgan Stanley and Co Inc and Salomon Brothers
Inc, hired in 1983 to advise Southern and Santa Fe in their
merger, appraised Southern as worth between 500 mln dlrs and
800 mln dlrs less than Southern's own internal valuations.
    Kanasa City Southern said it will make an offer for
Southern after its books, records and properties are examined.
    "Once that examination has been completed (and even in the
absence of a willingnes of SFSP to negotiate) KCSI will make an
offer in writing...." said the company.
    Kansas also said it argued in the ICC filing that Santa Fe
had not met the legal requirements justifying the Commission's
reconsideration of the proposed merger of Santa Fe and Southern
Pacific, two railroads that it said basically parallel each
other throughout their routes.
    ICC voted four to one last summer to reject the merger as
inherently anticompetitive. Kansas said Santa Fe in petitioning
for reconsideration now argues that the trackage agreements
with the Union Pacific, the Denver and Rio Grande Western and
other railroads, adds to the value of the merger.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15159" NEWID="9638">
<DATE>25-MAR-1987 17:46:02.58</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;f2592&#31;reute
u f BC-GENCORP-&lt;GY>-BID-COUL   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> BID COULD BE RAISED, GROUP SAYS</TITLE>
<AUTHOR>    BY CAL MANKOWSKI, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>An investor group said it might be
willing to raise its 100 dlr per share offer for GenCorp but so
far the company has turned down requests for a meeting.
    "We might be able to see some additional value if we could
meet" and get more financial data, said Joel Reed, speaking for
the investor group.
    Reed told Reuters that GenCorp chairman A. William Reynolds
"was not interested in sitting down and talking with us at this
time." Cyril Wagner sought the meeting in a recent telephone
conversation with Reynolds, Reed said.
    Wagner and Brown, along with AFG Industries Inc &lt;AFG>,
recently launched a surprise tender offer for GenCorp. The
offer is worth 2.23 billion dlrs.
    Reed said under the circumstances the 100 dlr per share
tender offer, which expires April 15, is a fair offer. GenCorp
gained 3-1/2 to 114 today on the NYSE.
    Reed outlined a plan to reshape GenCorp in the event his
group wins control. He said aerospace, soft drink bottling and
entertainment units are potential divestiture candidates. He
said the tire business, which the group wants to keep, may be
more viable if merged with another tire company.
    "One option would be to try to grow the tire business
through combination or an acquisition," Reed said. He said he
believes such a merger could create a stronger force in the
tire industry.
    Gary Miller, chief financial officer of AFG, said his
company has a record of acquiring mature businesses and
boosting productivity. Automation and incentives tied to profit
sharing have been used with success, he said.
    In the case of GenCorp's RKO General broadcasting stations,
Reed said the plan of the partners is to step into GenCorp's
shoes and proceed with plans to  sell the stations.
    The partners said if they succed in acquiring GenCorp they
intend to consummate sale of WOR-TV in New York to MCA Inc
&lt;MCA>. GenCorp last year entered into an agreement to sell the
station for 387 mln dlrs.
    The partners also said if they acquire Gencorp they would
also proceed with the proposed sale of KHJ-TV in Los Angeles to
Walt Disney Co &lt;DIS>. RKO General would receive 217 mln dlrs
and Fidelilty Television, which challenged the license, would
get about 103 mln dlrs.
    The partners also said the Federal Communications
Commission established an expedited schedule for receiving
comments on their request for special temporary authorization
of proposed trust arrangements while the FCC considers a formal
application for transfer of the broadcast unit.
    Reed said he was pleased with the expedited schedule
because it provides time for the agency to act on the request
before the expiration of the tender offer.
    He said it was the aim of the partners to move as quickly
as possible to eliminate uncertainty surrounding the stations.
    Asked about criticism of the takeover attempt voiced by
some municipal officials in Akron, Ohio, where GenCorp is
headquartered, Reed said, "the plan of the partners offers long
term growth for Ohio."
    He noted that the aerospace business, slated for
divestiture under the partners' plan, is located in California.
"Our program is one that overall would provide the greatest
long term growth for all segments," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15160" NEWID="9639">
<DATE>25-MAR-1987 17:48:59.91</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2599&#31;reute
r f BC-UNOCAL-&lt;UCL>-PLANS-IN   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>UNOCAL &lt;UCL> PLANS INCREASE IN CAPITAL SPENDING</TITLE>
<DATELINE>    LOS ANGELES, March 25 - </DATELINE><BODY>Unocal Corp said it intends to
increase its spending for capital projects to 929 mln dlrs in
1987, eight pct more than the 862 mln spent in 1986.
    The company said in its annual report that it would
increase spending for exploration and development of petroleum
resources by about three pct to 614 mln dlrs from 1986's 595
mln dlrs, assuming oil prices hold around current levels.
    The planned spending for exploration and production in 1987
remains well below the 1.1 billion dlrs spent in 1985, Unocal
said.
    The company's proved developed and undeveloped reserves of
crude oil rose slightly in 1986, Unocal said. Net crude oil and
condensate reserves were 752 mln bbls as of Dec 31, 1986,
compared to 751 mln bbls at the end of 1985, Unocal said.
    The company said its net crude oil and condensate
production averaged 248,200 barrels per day in 1986 compared to
251,300 bpd in 1985.
    Unocal said its worldwide natural gas reserves were 6.07
billion cubic feet in 1986 compared to 1985's 6.19 billion. Net
natural gas output averaged 976 mln cubic feet per day in 1986,
down 10 pct from 1985's 1,084 mln, the company said.
    Unocal said its average sales prices for crude oil was
12.67 dlrs a barrel worldwide in 1986 compared to 23.81 dlrs in
1985, and its average sales price for natural gas was 2.03 dlrs
per thousand cubic feet in 1986 against 2.24 dlrs in 1985.
    Average production costs for crude oil and natural gas
declined nearly 30 pct to 3.41 dlrs per bbl of oil equivalent
in 1986 from 4.81 dlrs in 1985, Unocal said.
    In the annual report, the company called for imposition of
an oil import fee by the U.S. government to set a floor price
of about 25 dlrs a barrel for crude oil.
    "Simply stabilizing prices at about 18 dlrs per barrel    
will not materialy slow the drop in U.S. production or the rise
in imports," Chairman Fred Hartley said in the annual report.
    "Without decisive action in Washington, this nation will
once again become a hostage to OPEC's plans and policies,"
Hartley said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15161" NEWID="9640">
<DATE>25-MAR-1987 17:50:34.05</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM A
&#22;&#22;&#1;f2604&#31;reute
b f BC-FED-APPROVES-CHEMICAL   03-25 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>FED APPROVES CHEMICAL NEW YORK &lt;CHL> MERGER</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Chemical New York Corp and Texas
Bancshares Inc &lt;TCB> said the Federal Reserve Board approved
their proposed 1.19 billion dlr merger.
    The companies also said the Securities and Exchange
Commission declared effective as of March 24 the registration
statement covering the securities Chemical will issue to Texas
Bancshares shareholders as part of the merger.
    The companies said they expect to complete the merger,
which will create a bank with 80 billion dlrs of assets, by the
end of the second quarter. The merger still requires
shareholder approval.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15162" NEWID="9641">
<DATE>25-MAR-1987 17:51:10.48</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;f2605&#31;reute
r f BC-varity-sees-improved   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>VARITY&lt;VAT> SEES IMPROVED RESULTS AFTER 1ST QTR</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>Varity Corp, earlier reporting a full
year loss against a prior year profit, said improvement is
expected in the balance of fiscal 1987 as new products fill the
inventory pipeline, cutbacks in operating costs are realized
and its newly acquired Dayton Walther business is fully
integrated.
    However, operating results are likely to remain under
pressure in the first quarter ending April 30, it said.
    Varity earlier reported a loss for fiscal 1986 ended
January 31 of 23.3 mln U.S. dlrs, compared to a year-earlier
profit of 3.9 mln dlrs.
    Varity said continued deterioration in major markets, a
weakening U.S. dollar and unforeseen delays in launching major
new lines of tractors contributed to the full year loss.
    Industry demand for farm machinery continued to erode
during the latest fiscal year, with worldwide industry retail
sales of tractors sliding more than 10 pct below last year's
depressed levels, the company said.
    However, Varity increased its share of the global tractor
market by more than one pct to 18.2 pct, it said.
    The combined impact of costly sales incentives and foreign
exchange adjustments on margins was substantial, Varity said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15163" NEWID="9642">
<DATE>25-MAR-1987 17:54:07.56</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2609&#31;reute
r f BC-CAMPBELL-RESOURCES-&lt;C   03-25 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>CAMPBELL RESOURCES &lt;CCH> UPS MESTON LAKE STAKE</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>Campbell Resources Inc said it raised
its voting stake in &lt;Meston Lake Resources Inc> to about 64 pct
from 52 pct through acquisition of another 870,000 Meston Lake
shares in its previously reported takeover bid.
    Campbell, in its bid that expired March 23, offered 80 cts
cash and 1.25 "legended" Campbell shares for each Meston share.
The legended shares are not tradeable for one year.
    It said the 3.4 mln Meston shares not tendered in the offer
were held by about 550 stockholders, including Quebec's La
Societe de developpement de la Baie James, with 1.3 mln shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15164" NEWID="9643">
<DATE>25-MAR-1987 17:54:38.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2611&#31;reute
d f BC-FPL-GROUP-&lt;FPL>-UNIT   03-25 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>FPL GROUP &lt;FPL> UNIT FILES TO OFFER PREFERRED</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>FPL Group Inc's Florida Power and Light
Co unit said it filed a shelf registration with the Securities
and Exchange Commission for the future sale, through one or
more offerings, of one mln shares of serial preferred stock.
    It said that these shares, together with 150,000 shares of
preferred stock that are unissued under a previous shelf
registration, should cover the utility's preferred stock
financing needs for the next two years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15165" NEWID="9644">
<DATE>25-MAR-1987 17:54:50.60</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2612&#31;reute
d f BC-METROBANC-&lt;MTBC>-SHAR   03-25 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>METROBANC &lt;MTBC> SHAREHOLDERS APPROVE MERGER</TITLE>
<DATELINE>    GRAND RAPIDS, Mich., March 25 - </DATELINE><BODY>Metrobanc, a federal
savings bank, said its shareholders approved the previously
announced merger with Comerica Inc &lt;CMCA>, a bank holding
company.
    Metrobanc said the merger is still subject to regulatory
approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15166" NEWID="9645">
<DATE>25-MAR-1987 17:55:23.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2613&#31;reute
d f BC-CONNECTICUT-ENERGY-&lt;C   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CONNECTICUT ENERGY &lt;CNE>UNIT SEEKS HIGHER RATES</TITLE>
<DATELINE>    BRIDGEPORT, Conn., March 25 - </DATELINE><BODY>Connecticut Energy Corp said
its Southern Connecticut Gas Co unit filed with state
regulators a letter of intent to raise its rates by 2.7 pct, or
about 4.2 mln dlrs, beginning in late 1987.
    The company said it expects to file a formal application
with the Connecticut Department of Public Utility Control
within 60 days.
    The company said a rate increase is needed to cover higher
operating and maintenance expenses that have occurred since it
last received a rate hike of three pct, or 4.8 mln dlrs, in
January 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15167" NEWID="9646">
<DATE>25-MAR-1987 17:55:39.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f2614&#31;reute
u f BC-CATTLEMEN-ASSESSING-D   03-25 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>CATTLEMEN ASSESSING DEATH LOSS FROM STORM</TITLE>
<AUTHOR>    By Jerry Bieszk, Reuters</AUTHOR>
<DATELINE>    CHICAGO, March 25 - </DATELINE><BODY>Blizzard conditions in parts of the
west and southwest U.S. severely stressed beef cattle and
Kansas cattlemen are reporting death losses from the storm,
according to livestock associations in the area.
    Talk among futures traders that cattle had died from the
cold and blowing snow accounted for some of the strength in
Live Cattle futures at the Chicago Mercantile Exchange today.
    "Death (of cattle) can be directly attributed to the storm,
but it's hard to get a handle on a number," Todd Domer,
director of communications for the Kansas Livestock Association
said.
    Domer noted that limited reports have been filtering in of
death losses at feedyards and from grazing and cow/calf
operations. Western Kansas was hardest hit while Eastern Kansas
only had rain, he said.
    Paul Johnston of the Nebraska Livestock Feeders Association
said, "There's no question that baby calves coming in that kind
of blizzard are probably not going to make it."
    We were having such a nice winter and the cows were out
calving before the storm hit, he added.
    The worst part of the storm came through the center of the
state. Precipitation was generally in the form of wet snow and
some feedlots are already like "soup", he said, inhibiting
cattle movements.
    The storm also had an effect on weight gain of larger
animals. Drifting snow caused problems in moving feed and mud
made it hard for cattle to reach the feed once it was
available.
    Domer noted that feedyards sources say a tremendous cutback
has occurred in feed consumption by cattle in the yards, which
may or may not lead to sickness over the next several days.
Cattle reduced daily feed consumption to about 12 lbs from 25
during the worst of the blizzard, he said.
    Mud will be more a problem as the weather breaks and snow
melts. Mud adds to stress on full-grown animals and endangers
smaller ones which can fall and be trampled in pens. The cost
of feeding rises as animals generally consume more in cold
weather, Domer said.
    Domer said it will be at least 10 days before yards get
back to normal.
    Roy Gallant, from Accu Weather Services, said that although
the worst of the storm is over, there are still some strong
gusty winds which will not diminish until tonight.
    The storm started late Sunday night in West Kansas and is
just now winding down. The storm has moved into South Dakota,
parts of Minnesota and Eastern North Dakota, he said.
    Snow accumulations from the storm totaled six to 10 inches
in most sections and 12 to 18 in a few spots before moving
north. This equals 1/2 to 1-1/2 inches of water. Drifts of four
to six feet and up to 12 feet were reported, he said.
    There's a possibility of another storm brushing that region
tomorrow night and Friday, Gallant added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15168" NEWID="9647">
<DATE>25-MAR-1987 17:57:08.75</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2617&#31;reute
h f BC-PLAINS-RESOURCES-INC   03-25 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>PLAINS RESOURCES INC &lt;PLNS> YEAR LOSS</TITLE>
<DATELINE>    OKLAHOMA CITY, March 25 - 
    </DATELINE><BODY>Oper shr loss 31 cts vs profit three cts
    Oper net loss 887,886 vs profit 646,250
    Revs 9,724,418 vs 10.8 mln
    Note: Year-ago oper net excludes tax credit of 230,000
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15169" NEWID="9648">
<DATE>25-MAR-1987 17:58:33.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2618&#31;reute
u f BC-ECUADOR-SIGNS-280-MLN   03-25 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR SIGNS 280 MLN DLR IADB LOAN</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Ecuador signed four loans from the
InterAmerican Development Bank (IADB) totaling 280 mln dlrs,
the IADB said.
    Ecuador's finance minister, Domingo Cordovez, and IADB
President Antonio Ortiz Mena, signed the loans after the IADB's
annual meeting here.
    A 57 mln dlr loan is for urban development, 80 mln dlrs for
industrial programs, 96 mln dlrs for highway rehabilitation
and 46 mln for farm research.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15170" NEWID="9649">
<DATE>25-MAR-1987 18:00:06.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2620&#31;reute
u f BC-PERU'S-DEBT-OBLIGATIO   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU'S DEBT OBLIGATIONS HIT 6.3 BILLION DLRS IN 1987</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Peru's foreign debt obligation this year
totaled 6.3 billion dlrs, including maturities falling due and
overdue payments, equivalent to almost twice its expected
exports of goods and services, Central Bank President Leonel
Figueroa said.
    He told the InterAmerican Development Bank (IADB) annual
meeting here that Peru will have to maintain its 10 pct limit
on debt payments to preserve growth.
    Figueroa said gdp grew by almost nine pct in 1986, while
inflation dropped to 63 pct from an annual rate of 280 pct in
the first half of 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15171" NEWID="9650">
<DATE>25-MAR-1987 18:06:43.10</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;f2631&#31;reute
u f BC-PENNZOIL-(PZL)-WILLIN   03-25 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>PENNZOIL (PZL) WILLING TO SETTLE TEXACO (TX) LAWSUIT</TITLE>
<DATELINE>    HOUSTON, March 25 - </DATELINE><BODY>Pennzoil Co said it had not yet
received any "meaningful settlement offer" from Texaco Inc but
added that the company remained willing to consider proposals
to settle the 10.2 billion dlr jury judgment it won against
Texaco.
    In its newly-released annual report to shareholders,
Pennzoil said it expected the Texas state court judgment, which
was upheld by a state appeals court on February 12, to be
upheld if appealed again.
    "To date, Pennzoil has yet to receive any meaningful
settlement offer from Texaco, though it remains open to any
realistic effort to settle the matter," Pennzoil chairman Hugh
Liedtke said in the annual report.
    Pennzoil also said it had budgeted 212 mln dlrs for capital
spending in 1987, a drop from the 233 mln dlrs spent last year.
    Proved U.S. and foreign reserves of natural gas declined to
964 billion cubic feet last year, from 1.01 trillion cubic feet
in 1985, because of a virtual halt in its exploration program,
Pennzoil said. Its crude oil reserves dropped to 140 mln
barrels from 158 mln barrels in 1985.
     The Houston-based company said it sold an average of 339
mln cubic feet of domestic natural gas each day last year, a 17
pct drop from 1985. The average sales price for gas dropped by
60 cents per mcf to 2.16 dlrs per mcf, Pennzoil said.
    U.S. crude oil and gas liquids production last year fell to
an average of 33,290 barrels per day from 34,102 barrels per
day in 1985.
    The company's total revenues in 1986 declined to 482.3 mln
dlrs, from 762.5 mln dlrs the previous year. Operating income
in 1986 fell more than 80 pct, to 38.0 mln dlrs.
    Pennzoil said its goals for 1987 included development of
its Point Arguello oilfield off the California coast, to
maintain current production levels in its Bluebell-Altamont
Field in Utah and to drill for prospects in the Gulf of
Mexico's Mobile Bay area.
    "Production should begin late in the year from the Harvest
Platform in the Santa Maria Basin offshore California," the
company said. "Pennzoil's share of this production initially
should be five thousand barrels a day, increasing to a peak of
15 thousand barrels a day, net, by 1989."
    In its sulphur business, Pennzoil said production totaled
2.1 mln long tons last year, a decline of 18 pct from 1985. The
average sales price also declined, to 138.25 dlrs per long ton
from 141.05 dlrs in 1985.
    "The long term outlook for our sulphur operations remains
bright," the company said. "We expect sulphur's pricing
structure to strengthen during the current year, probably in
the third and fourth quarters."
            
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15172" NEWID="9651">
<DATE>25-MAR-1987 18:09:22.05</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;f2635&#31;reute
r f BC-FARM-CREDIT-SYSTEM-TO   03-25 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM CREDIT SYSTEM TO ASK FOR CONGRESSIONAL AID</TITLE>
<AUTHOR>    By Greg McCune, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, MARCH 25 - </DATELINE><BODY>A senior representative of the
financially-troubled U.S. farm credit system is expected for
the first time tomorrow to ask Congress to provide assurances
that stock held by system borrowers will be guaranteed.
    Farm credit sources said Brent Beesley, president of the
Farm Credit Corporation which represents the system, will make
the request at a Senate Agriculture subcommittee hearing.
    They said Beesley would ask Congress to take some action to
assure borrowers the stock is secure. But Beesley is expected
to stop short of requesting other forms of government aid.
    Borrowers from the farm credit system hold some four
billion dlrs in system stock which could be devalued if the
mounting losses of the system persist, officials said.
    Beesley's request expected tomorrow is seen as the first
official acknowledgment from the system itself that federal aid
will be needed to guarantee the value of the stock.
    Yesterday, Jim Billington, a member of the Farm Credit
Administration board which regulates the system, said Congress
should plan to spend at least 800 mln dlrs beginning late this
year to bail-out the system.
    Congress is moving swiftly toward legislation to aid the
system. Sen. James McClure, R-Idaho, has drafted a resolution
which would put the Senate on record as guaranteeing the value
of farm credit system stock. The resolution may be brought to
the Senate floor soon, Congressional sources said.
    In addition to requesting a guarantee of borrower stock,
Beesley is expected tomorrow to endorse the creation of a
secondary market, called "Aggie-mae" by some proponents, for
the resale of farm real estate loans.
    Sources said the farm credit system will support the idea
if the system is included in the operation of the market.
    Farm credit sources said the system decided to request a
guarantee of borrower stock at a meeting this week in Denver of
the 12 presidents of farm credit system districts.
    Beesley's testimony to the Congressional hearing tomorrow
will not include any new financial forecast of system losses,
officials said.
    Chairman of the FCA, Frank Naylor, yesterday said the
system may lose as much as 1.4 billion dlrs this year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15173" NEWID="9652">
<DATE>25-MAR-1987 18:11:17.83</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2641&#31;reute
d f BC-GV-MEDICAL-INC-&lt;GVMI>   03-25 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>GV MEDICAL INC &lt;GVMI> 4TH QTR LOSS</TITLE>
<DATELINE>    MINNEAPOLIS, Minn., March 25 -
    </DATELINE><BODY>Shr loss 20 cts vs loss 26 cts
    Net loss 798,289 vs loss 777,667
    Rev 262,738 vs nil
    Avg shares 3,930,360 vs 2,959,029
    Year
    Shr loss 96 cts vs loss 1.25 dlrs
    Net loss 3,202,355 vs loss 3,060,407
    Rev 676,341 vs nil
    Avg shares 3,339,174 vs 2,445,423
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15174" NEWID="9653">
<DATE>25-MAR-1987 18:11:34.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2643&#31;reute
d f BC-FIRST-FEDERAL/ARKANSA   03-25 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST FEDERAL/ARKANSAS &lt;FARK> IN COURT RULING</TITLE>
<DATELINE>    LITTLE ROCK, Ark., March 25 - </DATELINE><BODY>First Federal Savings of
Arkansas FA said a federal district court denied a motion
seeking class-action status for a lawsuit that alleges the bank
violated securities laws in an offering of common stock.
    The lawsuit alleges that First Federal violated securities
laws in connection with its initial public offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15175" NEWID="9654">
<DATE>25-MAR-1987 18:16:48.36</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2647&#31;reute
u f BC-IBC-PRESIDENT-NOT-TO   03-25 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>IBC PRESIDENT NOT TO ATTEND ICO EXECUTIVE BOARD</TITLE>
<DATELINE>    RIO DE JANEIRO, MARCH 25 - </DATELINE><BODY>Brazilian Coffee Institute (IBC)
president Jorio Dauster said he will not attend the ICO
executive board meeting and was surprised to hear that a report
of his absence had a slightly depressing effect on the New York
coffee market today.
    "I have too much work to accomplish here in Brazil at the
moment. Besides the presence of the IBC president at an ICO
executive board meeting is not a tradition," Dauster said.
    Dauster said except in rare cases, Brazil has always sent
its London-based representative to ICO board meetings.
Ambassador Lindenberg Sette will attend the meeting, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15176" NEWID="9655">
<DATE>25-MAR-1987 18:19:04.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2655&#31;reute
u f BC-COLOMBIA-TO-MAINTAIN   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOMBIA TO MAINTAIN FOREIGN BORROWING LEVELS</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Colombia plans to maintain foreign
borrowing at levels similar to the 1982-86 period, during which
it received a net 1.3 billion dlrs net of repayments, Finance
Minister Cesar Gaviria said.
    He told the Inter-American Development Bank (IADB) annual
meeting here that despite Latin America's debt crisis, Colombia
continues to achieve positive credit flows reflecting the
strength of its economy that grew five pct last year.
    Public Credit Director Mauricio Cabrera said Colombia plans
to launch a foreign bond issue in the second half of 1987,
possibly for 60 mln dlrs.
    Cabrera said a 50 mln dlr floating rate note (FRN) issue by
Colombia is expected to close next month. It carries a 1-1/8
pct margin over Libor, with a seven year maturity and four
years grace.
    He also told Reuters he did not expect any increase in
Colombia's financing needs as a result of current falling
coffee prices, after a surge last year doubled export income
from this source to around three billion dlrs.
    "The drop will simply bring us back to 1985 levels, with a
loss of no more than about 100 mln dlrs," he said.
    Colombia, with a total foreign debt of around 13 billion
dlrs, has a foreign borrowing programme of around three billion
dlrs this year, of which about one billion is new credits.
    Its foreign reserves ended 1986 at 3.5 billion dlrs,
equivalent to more than nine months of imports and
non-financial services, and GDP growth is again expected to
reach five pct this year, Gaviria said.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15177" NEWID="9656">
<DATE>25-MAR-1987 18:19:54.76</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>taiwan</D><D>south-korea</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2657&#31;reute
u f BC-EXCHANGE-RATE-BILL-CL   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>EXCHANGE RATE BILL CLEARS U.S. HOUSE PANEL</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The House Banking Committee adopted
legislation to direct the U.S. Treasury to begin negotiations
aimed at seeking regular adjustment of exchange rates by  
countries such as Taiwan and South Korea, whose currencies are
pegged to the value of the U.S. dollar.
    The measure was adopted as part of a wide-ranging trade
bill that will be considered by the full House in April before
it moves on to the Senate.
    The bill's many provisions also set as a priority for the
U.S. the negotiation of stable exchange rates and urge
government intervention as necessary to offset fluctuations.
    In addition, the Banking Committee bill would authorize
U.S. banks to use a variety of means to deal with the debt
problems of developing countries, such as lowering interest
rates on existing debt, renegotiating loans or debt
forgiveness. The bill would give a blanket waiver of any
federal banking regulations that bar such actions.
    The bill would direct Treasury Secretary James Baker to
discuss with debt-ridden developing countries the possibility
of the U.S. setting up a public debt management agency that
would purchase their debt at a discount and negotiate the
restructuring of the debt.
    The Banking bill authorizes U.S. participation in a
multilateral investment guarantee agency (MIGA) as requested by
the administration. Congress would approve an initial U.S.
subscription of 22 mln dlrs.
    And, it sets up a council on industrial competitiveness
composed of industry and administration members to explore ways
to make the U.S. more competitive in world markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15178" NEWID="9657">
<DATE>25-MAR-1987 18:22:06.61</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;C G L M T
&#22;&#22;&#1;f2661&#31;reute
d f BC-U.S.-CHIPMAKERS-URGE   03-25 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CHIPMAKERS URGE SANCTIONS AGAINST JAPAN</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Semiconductor Industry
Association urged the U.S. government to impose trade sanctions
against Japan for violating the U.S.-Japan Semiconductor Trade
Agreement.
    In a letter to Treasury Secretary James Baker the group
said sanctions should be imposed against Japanese chipmakers as
of April 1 and continue until the U.S. is satisfied there is
full compliance with the agreement.
    The group said action by Japan to cut back on semiconductor
exports is not what is required.
    "America's interests require that agreements be honored and
that U.S. industries not bear the burden for the persistent
unwillingness or inability of the government of Japan to
deliver on its commitments," the trade group said.
    The White House Economic Policy Council is expected to
discuss possible sanctions against Japan at a meeting scheduled
for Thursday.
    The trade group said Japan has not lived up to the terms of
the agreement last year which was aimed at ending Japanese
dumping of semiconductors and at opening Japanese markets to
foreign-based manufacturers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15179" NEWID="9658">
<DATE>25-MAR-1987 18:25:51.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2665&#31;reute
b f BC-LOMAC-TO-PAY-COSTS-IN   03-25 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>LOMAC TO PAY COSTS IN FIRST SUPERFUND AGREEMENT</TITLE>
<AUTHOR>    By SCOTT WILLIAMS, Reuters</AUTHOR>
<DATELINE>    LANSING, Mich., March 25 - </DATELINE><BODY>Lomac Inc, a publicly traded
company, will pay the U.S. and Michigan governments to help
clean up a toxic waste site in the first major settlement under
the 1986 Superfund-Two act, Michigan officials said.
    Lomac will pay 17 mln dlrs to help clean the site, they
said.
    Stewart Freeman, Michigan's chief environmental attorney,
told Reuters that Lomac, a new company, agreed to buy a
chemical site near Muskegon, Mich., formerly operated by Bafors
Nobel Inc, a bankrupt subsidiary of A.B. Nobel of Sweden.
    The settlement was also the largest in history in a
bankruptcy case involving environmental issues, Freeman said.
    Other companies with Superfund disputes are watching the
case closely, he said. "There are a number of very large
corporations talking to the attorney general," Freeman said,
referring to Michigan Atty. Gen. Frank J. Kelley.
    Freeman would not identify the companies involved, saying
he was not sure whether confidentiality agreements had been
made.
    Lomac will pay 25-26 mln dlrs in the settlement. Five mln
dlrs will be paid to the federal and 12 mln dlrs will go to the
Michigan government for cleanup at the site, the Lakeway
Chemical plant.
    The remaining funds will go to medical surveillance of
former workers at the plant.
    Under the agreement, a trust fund will be set up "to
monitor the health of employees who may have been exposed to
dangerous chemicals that were manufactured at the plant before
1971," the Michigan attorney general's office said in a
statement.
    Freeman said the medical fund was necessary because of
possible medical problems among workers at the site.
    The Muskegon facility was formerly used to manufacture
dyes. Freeman said Bofors Nobel spent 50 mln dlrs cleaning up
the site, formerly owned by Lakeway Chemical Co, before "the
economic decision was made in Sweden" to place the operation in
bankruptcy.
    Under the agreement, Bofors Nobel will sell the site, which
still holds an operating chemical plant, to Lomac. Some 150
employees work at the plant, a spokesman for the Michigan
attorney general said.
    The state attorney general said cleanup at the site will
begin "immediately," and will be supervised by federal and
state officials.
    Freeman said the plant site is not presently listed on the
federal superfund list, which qualifies the toxic waste site
for federal cleanup funds.
    He said federal officials will try to get the Muskegon
facility onto the superfund list. If they are unable to do so,
the 5.0 mln dlr federal portion of the settlement will be
turned over to Michigan officials to be used in the cleanup,
Freeman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15180" NEWID="9659">
<DATE>25-MAR-1987 18:34:17.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>haiti</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2685&#31;reute
r f BC-WORLD-BANK-AFFILIATE   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK AFFILIATE PROVIDES CREDIT FOR HAITI</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The World Bank today approved a 40
million mln dlr loan to assist an economic reform program under
way in Haiti.
    The bank said the loan is being made through its affiliate,
the International Development Association, and will be used to
restore economic confidence, approve the allocation of
resources, and stimulate economic growth.
    The bank said the the 50-year credit, which is interest
free, comes as there is growing evidence that reforms already
underway have improved the country's economic situation.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15181" NEWID="9660">
<DATE>25-MAR-1987 18:34:32.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f2687&#31;reute
r f BC-U.S.-AGRICULTURE-SECY   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. AGRICULTURE SECY DOUBTFUL ON DEFICIT GOAL</TITLE>
<DATELINE>    WASHINGTON, March 25, Reuter - </DATELINE><BODY>U.S. Agriculture Secretary
Richard Lyng today publicly expressed doubts that the federal
government would meet the fiscal year 1988 deficit reduction
target set by the  Gramm-Rudman law.
    "I don't think anyone believes we'll meet the 108 billion
dlr target," Lyng told the Virginia Farm Bureau.
    Lyng is believed to be the first top administration
official to publicly express doubts the target would be met.
    The remark was quickly disavowed by the White House Office
of Management and Budget (OMB). "His 'no one' does not include
the OMB," said spokesman Edwin Dale.
    Lyng made the remark while describing the need for the
agriculture sector to share the burden of cutbacks under last
year's Gramm-Rudman law.
    "There needs to be some reduction of some expenditures to at
least get close to the Gramm-Rudman figure," he said.
"Agriculture would not be independent from that."
     Lyng's special assistant, Floyd Gabler, said the remark
was an opinion based on Lyng's discussions with congressmen.
    "If the Secretary said that he's simply expressing an
opinion he's gotten from the progress or lack of progress on
the Hill," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15182" NEWID="9661">
<DATE>25-MAR-1987 18:35:52.42</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2689&#31;reute
r f BC-CLABIR-&lt;CLG>,-AMBRIT   03-25 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CLABIR &lt;CLG>, AMBRIT &lt;ABI> CALL OFF MERGER</TITLE>
<DATELINE>    GREENWICH, Conn., March 25 - </DATELINE><BODY>Clabir Corp and AmBrit Corp
said they called off their plans for Clabir to buy the 16 pct
voting interest in AmBrit that it does not already own.
    The companies said they agreed not to pursue the merger
because several actions recently taken by AmBrit would mean
substantial delays in completing the deal.
    They said they might revive merger plans at a later date or
seek other ways for Clabir to increase its holdings in AmBrit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15183" NEWID="9662">
<DATE>25-MAR-1987 18:37:31.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2691&#31;reute
r f BC-FAA-ORDERS-VOICE-RECO   03-25 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>FAA ORDERS VOICE RECORDERS ON NEW COMMUTER CRAFT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Federal Aviation Administration
said it will require cockpit voice recorders to be installed on
all newly made commuter aircraft by May 26 1989.
    The FAA said data from the cockpit voice recorder, which
makes a record of cockpit conversation during flight, was
invaluable to accident investigators.
    The new rule covers newly made jet and turbo prop commuter
aircraft that carry six or more passengers and that must be
flown by two pilots.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15184" NEWID="9663">
<DATE>25-MAR-1987 18:41:01.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2697&#31;reute
u f BC-TELECOMMUNICATIONS-BI   03-25 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>TELECOMMUNICATIONS BILL CLEARS U.S. HOUSE PANEL</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The House Energy and Commerce
Committee approved major trade legislation that will give
President Reagan authority to retaliate if negotiations to open
foreign markets to U.S. telecommunications products fail.
    The provision was part of a major trade bill the committee
approved on a vote of 26 to 15. It will be wrapped into a trade
bill being written in several House committees and due to be
considered in the full House in late April.
    The bill also requires foreign investors to file detailed
reports to the Commerce Department on their U.S. holdings in
real estate, securities or U.S. companies.
    In response to congressional concern over the Fujitsu
proposal to take control of Fairchild Semiconductor Corp., the
bill would give Reagan the power to bar foreign acquisitions of
U.S. firms if the sale threatened U.S. national security.
    The legislation would bar for one year imports of advanced
audio digital tape machines unless the recording capability is
disabled. The action was taken after the U.S. recording
industry said the new machines would lead to rampant recording
piracy and legislation was needed to protect their rights.
    The bill authorizes government spending of 100 mln dlrs a
year for five years to help pay for research by a consortia of
semiconductor manufacturers.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15185" NEWID="9664">
<DATE>25-MAR-1987 18:41:10.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f2698&#31;reute
r f BC-BANK-BOARD-TAKES-CONT   03-25 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK BOARD TAKES CONTROL OF FLORIDA THRIFT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The Federal Home Loan Bank Board
said it took control of the South Florida Banks and transferred
its assets and deposits to a newly chartered federal mutual
association.
    The Bank Board said it approved a new five-member board for
the association. South Florida was a state chartered stock
institution with 175.2 mln dlrs in assets.
    The Bank Board said the savings bank suffered from poorly
underwritten loans and investments plus a high cost of funds
and operating expenses, including excessive compensation of
some former officers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15186" NEWID="9665">
<DATE>25-MAR-1987 18:43:59.82</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;f2702&#31;reute
r f BC-MOODY'S-DOWNGRADES-ZE   03-25 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S DOWNGRADES ZENITH ELECTRONICS &lt;ZE> DEBT</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Moody's Investors Services Inc said it
downgraded 200 mln dlrs of long-term debt of Zenith Electronics
Corp.
    Cut were Zenith's senior debt to Ba-2 from Baa-3,
convertible subordinated debt to B-1 from Ba-2 and commercial
paper to Not-Prime from Prime-3.
    Moody's cited the company's overall losses.
    The agency also said it believes that future profits in the
consumer electronics business will be limited because of
intense competition from international market participants.
    Moody's pointed out that Zenith's total debt increased
sharply over the past year and is being serviced by weak cash
flow.
    A spokesman for Zenith criticized the action.
    "The company believes the downgrade is unwarranted.
Operating results for 1986 improved over 1985 and Zenith was
profitable in the second half of 1986," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15187" NEWID="9666">
<DATE>25-MAR-1987 18:44:16.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2703&#31;reute
r f BC-SDC-SYDNEY-REPLACES-C   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SDC SYDNEY REPLACES CHAIRMAN</TITLE>
<DATELINE>    VANCOUVER, B.C., March 25 - </DATELINE><BODY>&lt;SDC Sydney Development Corp>
said it terminated its service agreement with chairman and
chief executive Walter Steel on March 24, and appointed Donald
Michelin as acting chief executive.
    "The performance of the company since Mr. Steel's
appointment in June, 1985 has not fulfilled either Mr. Steel's
plans or the objectives of Alexis Nihon Investments Inc, the
principal creditor and largest shareholder, and a change in
senior management was viewed as essential to redirecting the
business of the company," SDC Sydney said.
    Michelin is an Alexis Nihon officer and director.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15188" NEWID="9667">
<DATE>25-MAR-1987 18:44:58.85</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;f2705&#31;reute
u f BC-COST-OF-PIK-CERTIFICA   03-25 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>COST OF PIK CERTIFICATES TO BE EYED BY CONGRESS</TITLE>
<AUTHOR>    By Nelson Graves, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Congress, eager to find budget
savings, launches a review of the U.S. Agriculture Department's
generic commodity certificate program tomorrow, amid signs USDA
and the General Accounting Office, GAO, are at odds over how
much the program has cost U.S. taxpayers.
    The GAO concluded in a preliminary report last week that
payment-in-kind, or PIK, certificates cost between five and 20
pct more than cash outlays, administration officials who asked
not to be identified said.
    USDA officials, however, took issue with the report, saying
it did not take into account storage, handling and transport
savings that accrue to the government. The GAO then decided to
re-examine the costs, sources said.
    The issue is an important one, because congressional budget
committees are known to be considering limiting the use of
certificates as a means of cutting spending.
    Agriculture Under Secretary Daniel Amstutz and GAO Senior
Associate Director Brian Crowley are set to testify before the
Senate Agriculture Committee tomorrow.
    Amstutz is expected to tell the committee that there are
uncertainties in determining the cost of certificates compared
to cash outlays, and that savings to the Commodity Credit Corp,
CCC, almost equal costs, department sources said.
    USDA estimates that it costs the government about 75 cents
to store, handle and transport each bushel of commodity put in
government storage.
    It was unclear whether the GAO, Congress' investigative
arm, would stick by its original analysis that it costs the
government more to use certificates instead of cash in farm
price and income support programs, Reagan administration
sources said.
    The GAO is expected to point out that use of
payment-in-kind, PIK, certificates has helped relieve tight
storage by moving grain that otherwise might not have been
sold.
    The testimony by Amstutz and GAO Senior Associate Director
Brian Crowley comes as congressional budget committees
intensify their efforts to pinpoint ways to cut the federal
budget deficit -- including considering limits on the use of
PIK certificates.
    The CCC issues dollar-denominated PIK certificates, or
certs, as a partial substitute for direct cash outlays to
farmers or cash subsidies to exporters. Certs can be used to
repay nonrecourse loans or exchanged for CCC commodities or
cash.
    Between April and December 1986, CCC issued 3.8 billion
dlrs worth of certificates, according to USDA. Up to another
6.7 billion dlrs worth could be issued between January and
August 1987, according to USDA.
    Certs can cost the government more than cash primarily
because recipients can use the certificates to pay back
government loans at levels below the loan rate.
    Eliminating this practice, called "PIK and roll," would save
the government 1.4 billion dlrs between 1988-92, according to
the Congressional Budget Office, CBO. That estimate, according
to a CBO official, was based on an assumption that certificates
cost the government about 15 pct more than cash payments.
    The Senate and House Budget Committees are known to be
considering curbs on PIK-and-roll transactions among other
savings alternatives.
    The GAO last week reached the tentative conclusion that the
estimated three billion dlrs of certificates redeemed to date
have cost the federal government between 150 mln and 600 mln
dlrs, or between five and 20 pct, more than cash outlays, one
administration official said.
    However, the GAO has decided to reassess those estimates
based in part on USDA criticism, department officials said.
    The broad range of the cost estimate is partly attributable
to the different effect certificates can have on market prices
over the course of a crop year.
    USDA's Economic Research Service, for example, has found
that between June and August last year, the 215 mln bushels of
corn exchanged for certificates lowered the price of corn by
between 35 and 45 cents per bushel.
    Between September and November, however, certificates had
only a marginal impact on corn prices, according to the ERS
study, obtained by Reuters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15189" NEWID="9668">
<DATE>25-MAR-1987 18:45:15.44</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2706&#31;reute
r f BC-DAILY-TELEGRAPH-IN-DE   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>DAILY TELEGRAPH IN DEAL WITH NEWS INTERNATIONAL</TITLE>
<DATELINE>    TORONTO, March 25 - </DATELINE><BODY>&lt;Hollinger Inc> said 58 pct-owned &lt;The
Daily Telegraph PLC>, of London, agreed to form a joint venture
printing company in Manchester, England with &lt;News
International PLC>. Financial terms were undisclosed.
    It said the deal involved News International's acquisition
of a 50 pct stake in the Telegraph's Trafford Park Printing Ltd
subsidiary. The joint company will continue to print northern
editions of the Telegraph and Sunday Telegraph, with spare
capacity used to print The Sun and News of the World.
    The arrangement will significantly cut Telegraph costs,
Hollinger said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15190" NEWID="9669">
<DATE>25-MAR-1987 18:46:18.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2708&#31;reute
d f BC-USACAFES-&lt;USF>-UNIT-P   03-25 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>USACAFES &lt;USF> UNIT POSTS RECORD WEEKLY SALES</TITLE>
<DATELINE>    DALLAS, March 25 - </DATELINE><BODY>USACafes LP said sales at its Bonanza
Restaurant unit rose 16.6 pct to a record 10.4 mln dlrs for the
week ended March 22.
    That compares with sales of 8,909,000 dlrs for the
comparable week last year, the partnership said.
    USACafes, which said year-to-date sales from the Bonanza
chain were up 13 pct, attributed the increase to the budget
steakhouse chain's decision to add chicken, seafood and salad
entrees to its menu.
    It said the new entrees now account for two-thirds of the
chain's sales.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15191" NEWID="9670">
<DATE>25-MAR-1987 18:47:03.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>portugal</D><D>china</D></PLACES>
<PEOPLE><D>cavaco-silva</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2710&#31;reute
u f AM-MACAO-PORTUGAL   03-25 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>MACAO TO KEEP EXISTING SYSTEM FOR 50 YEARS</TITLE>
<DATELINE>    LISBON, March 25 - </DATELINE><BODY>Portuguese Prime Minister Anibal Cavaco
Silva said Portugal would hand back Macao to China on December
20, 1999, but added the existing political, economic and social
system there would be maintained until the year 2050.
    Cavaco Silva, speaking on national television hours before
the initialling in Peking of an agreement on the handover, said
that under the accord Macao would be a special administrative
region of China and would have a large measure of autonomy.
    Under the accord, Portuguese administration of the
territory would end on December 20, 1999 but the existing
system there would be maintained until the year 2050, Cavaco
Silva said.
    "The existing way of life in Macao, the Portuguese laws,
basically our political, economic and social system, will
remain in force for a further 63 years from now," he said.
    Cavaco Silva said he would go to Peking in the first half
of next month to formally sign the agreement with China, which
would then be submitted to Portugal's parliament for approval.
    Cavaco Silva said that after Portuguese administration of
Macao formally ended in 1999, the future government of the
territory would enjoy complete autonomy except in the areas of
defence and foreign relations. It would however be able to make
economic, trade and finance agreements with other countries.
    The head of government would be named on the basis of
elections held for the post.
    Macao would have an elected legislative assembly and an
independent judiciary. There would be religious freedom, a free
press and freedom of expression. The Portuguese language could
continue to be used in the government, assembly and courts.
    Cavaco Silva said the current financial system would
continue after the year 2000. The existing banks and freedom of
capital movements would be maintained as would the
convertibility of the pataca as the territory's monetary unit
and the legal protection of foreign investment.
    Only the Macao government would be able to collect taxes.
    Cavaco Silva said that those among Macao's 400,000
population who held Portuguese nationality on the date of the
handover would thereafter continue to be able to use their
Portuguese passports and their nationality rights.
    The nationality issue had been one of the points of
disagreement in the complex handover talks.
    The special administrative status to be granted to Macao
after its handover mirrors a similar accord for the nearby
British colony of Hong Kong, which reverts back to Chinese rule
in 1997 under a 1984 Sino-British agreement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15192" NEWID="9671">
<DATE>25-MAR-1987 18:47:07.07</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2711&#31;reute
s f BC-FRIEDMAN-INDUSTRIES-I   03-25 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>FRIEDMAN INDUSTRIES INC &lt;FRD> QUARTERLY DIV</TITLE>
<DATELINE>    HOUSTON, March 25 - 
    </DATELINE><BODY>Qtly div seven cts vs seven cts prior
    Pay June one
    Record May four
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15193" NEWID="9672">
<DATE>25-MAR-1987 18:53:17.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE><D>chirac</D><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2720&#31;reute
u f BC-CHIRAC-SEES-FASTER-PR   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CHIRAC SEES FASTER PRIVATISATION</TITLE>
<DATELINE>    PARIS, March 25 - </DATELINE><BODY>France's right-wing government now
expects to raise about 40 billion francs this year from its
privatisation program, 10 billion more than it targetted, Prime
Minister Jacques Chirac said.
    The success of the program, launched late last year, meant
the government would be able to go beyond the 30 billion franc
figure it estimated in its 1987 budget, he said in a television
interview.
    About 75 pct of the additional revenue would be used to cut
state debt and 25 pct to provide additional funds for public
sector investment, he said.
    Chirac said Finance Minister Edouard Balladur proposed to
make two billion francs of supplementary funding available for
a five biillion franc accelerated motorway building program.
    The remaining three billion francs for this would come from
a motorway loan now in the domestic market.
    Balladur also proposed to make some extra cash available to
the French national railways, SNCF, for the construction of
high-speed rail track, and to boost research in the aerospace
industry, he added.
    An estimated 15,000 jobs would be generated by speeding up
motorway construction, Chirac said.
    Reaffirming his long term strategy of cutting the state
sector deficit and easing taxes, Chirac repeated government
pledges to cut the corporate tax rate to 42 pct from 45 pct in
the 1988 budget.
    Personal income tax would also be reduced but details had
still to be worked out, he added.
    The government aimed to make France the leading economic
power in Western Europe within five years, he told his
television interviewer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15194" NEWID="9673">
<DATE>25-MAR-1987 18:53:37.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2721&#31;reute
u f AM-DEBT 1STLD  03-25 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>IADB MEETING ENDS WITH U.S. ISOLATED ON REFORM</TITLE>
<AUTHOR>     By Keith Grant</AUTHOR>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>The United States remained isolated among
the Inter-American Development Bank's 44 members as the Bank
ended its annual meeting here today without agreement on U.S.
proposals to reform the regional lending institution.
    The three-day meeting was dominated by the dispute and by
the failure of Brazil and its creditor banks to make any
breakthrough on debt talks after Brasilia suspended interest
payments last month.
    Brazil's Central Bank governor Francisco Gros said after
talks with its 14-bank advisory committee here yesterday that
it could not make a token interest payment now, as sought by
banks, but would maintain contact with the banks.
    Delegates agreed to shelve discussion of IADB reforms until
the half-yearly International Monetary Fund and World Bank
meetings in two weeks time in Washington at which a decision
will be urgently sought in order to maintain credit flows to
the recession-hit region.
    "The Bank cannot maintain an adequate lending level unless
it is given increased resources," IADB president Antonio Ortiz
Mena told a press conference.
    Ortiz Mena said 42 countries opposed Washington's proposal
to lower veto power over loans to 35 pct of the Bank's voting
shares from a simple majority as at present.
    U.S. Treasury Secretary James Baker said Monday the United
States, as 34.5 pct shareholder and provider of the bulk of the
Bank's resources, should have more say in approving loans and
conditioned a nine billion dlr increase in its contribution on
approving the reforms.
    But Ortiz Mena said Latin America and the non-regional
members including Europe and Japan had all supported a 40 pct
veto level. Canada declined to state a position.
    Behind the dispute was a U.S. attempt to radically change
the direction of the Bank, which has lent 35 billion dlrs to
Latin America in its 28 years, and give it a bigger role in the
current debt strategy with increased lending but more stringent
conditions attached.
    But Ortiz said the Bank cannot divert too much of its
resources to so-called sectoral lending, whereby loans to
specific sectors are tied to economic reforms, because this
could affect the Bank's Triple A rating as a borrower in world
markets.
    "For this reason we have agreed to limit sectoral loans to
25 pct of the total, leaving the rest for investment in
projects," he said.
    Ortiz Mena earlier told the Bank's closing session that as
a result of negotiations here, the Bank can expect a new
injection of about 25 billion dlrs for the period 1987-90.
    The United States has said it will only be able to support
a level close to the sixth replenishment of funds, which came
to 15.7 billion dlrs, unless its proposals are accepted.
    But despite the impasse, some Latin American delegates
including Mexican Finance Minister Gustavo Petricioli said they
were optimistic a compromise agreement could be reached next
month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15195" NEWID="9674">
<DATE>25-MAR-1987 18:54:14.76</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>venezuela</D><D>ecuador</D><D>mexico</D><D>trinidad-tobago</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y RM
&#22;&#22;&#1;f2724&#31;reute
r f BC-latin-oil-producers-t   03-25 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>LATIN OIL PRODUCERS TO MEET IN CARACAS</TITLE>
<DATELINE>    CARACAS, March 25 - </DATELINE><BODY>Five regional oil producing nations
will gather in Caracas tommorrow for a two-day meeting expected
to center on ways to combat proposals for a U.S. tax on
imported petroleum, the Venezuela's ministry of energy and
mines said.
    Oil ministers from Mexico, Trinidad and Tobago, Ecuador and
Venezuela will be on hand for the fifth meeting of the informal
group of Latin American and Caribbean Petroleum Exporters,
formed in 1983, it said. Colombia will also attend for the
first time, as an observer nation, the ministry said.
    Energy and Mines Minister Arturo Hernandez Grisanti said
the conference has no set agenda but one entire session Friday
will be devoted to proposals for a tax on imported oil.
    Two of the group's members, Venezuela and Mexico, are
second and third largest foreign suppliers of oil to the United
States, respectively, following Canada.
    Venezuela, concerned about the effect such a tax would have
on its exports, undertook a diplomatic push to coordinate
strategy against such measures. In February, Canadian Energy
Minister Marcel Masse was invited to Caracas for talks with
Hernandez on proposals for an oil import tax.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15196" NEWID="9675">
<DATE>25-MAR-1987 18:55:01.02</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;f2726&#31;reute
u f BC-RESERVE-BANK-CUTS-RED   03-25 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN RESERVE BANK CUTS REDISCOUNT RATE</TITLE>
<DATELINE>    SYDNEY, Mar 26 - </DATELINE><BODY>The Reserve Bank of Australia this morning
cut the rediscount rate from 17.30 pct to 17.00 pct.
    The rediscount is the rate at which the bank buys back
treasury notes.
    Market sources said the cut reflected the recent easing in
market interest rates. They also pointed to yesterday's
treasury note tender where the 400 mln dlrs of 13-week notes
went at an average yield of 15.473 pct, down from 15.870 last
week. The 100 mln dlrs of 26-week notes went at an average
15.414 from 15.790 last week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15197" NEWID="9676">
<DATE>25-MAR-1987 18:57:18.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>argentina</D><D>brazil</D></PLACES>
<PEOPLE><D>machinea</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F A
&#22;&#22;&#1;f2729&#31;reute
u f BC-ARGENTINA-COULD-MAKE   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINA SAYS COULD FOLLOW BRAZILIAN DEBT MOVE</TITLE>
<DATELINE>    BUENOS AIRES, March 25 - </DATELINE><BODY>Central Bank President Jose Luis
Machinea said Argentina could adopt the same posture as Brazil
and suspend payments on its foreign debt if it failed to meet
creditor bank demands.
    "If Argentina had the same difficulties in being unable to
refinance (its debt) under the desired (creditor) conditions,
that (Brasil's) is a path to take," Machinea said.
    Brasil last month suspended payments on a large part of its
109-billion dlr debt, the highest in the developing world.
    Machinea said Brasil did not suspend payments because it
wanted to but because it lacked reserves.
    Argentina has since last month been negotiating a 2.15
billion dlr loan with the steering committee for its
international creditor banks to meet 1987 growth targets.
    But Machinea said the talks were difficult and Argentina
wanted to conclude them as soon as possible.
    "What the (creditor) banks are demanding is not the same as
what Argentina is prepared to concede," Machinea said.
    Argentina has a global foreign debt of 50 billion dlrs. Its
debt with private banks is about 30 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15198" NEWID="9677">
<DATE>25-MAR-1987 18:57:32.45</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2731&#31;reute
d f BC-GENOVA-&lt;GNVA>-SIGNS-D   03-25 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>GENOVA &lt;GNVA> SIGNS DEFINITIVE MERGER AGREEMENT</TITLE>
<DATELINE>    DAVISON, Mich., March 25 - </DATELINE><BODY>Genova Inc said it signed a
definitive agreement for the previously announced merger with
&lt;Genova Products Inc>.
    Under the agreement, Genova Products will pay 5-3/8 dlrs a
share for the 29 pct of Genova's outstanding common shares it
does not already own.
    The company said it plans to complete the transaction,
which requires shareholder approval, by the end of March.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15199" NEWID="9678">
<DATE>25-MAR-1987 19:00:45.49</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2739&#31;reute
d f BC-PENOBSCOT-SHOE-CO-&lt;PS   03-25 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>PENOBSCOT SHOE CO &lt;PSO> 1ST QTR FEB 27 NET</TITLE>
<DATELINE>    OLD TOWN, Me., March 25 - 
    </DATELINE><BODY>Shr 69 cts vs six cts
    Net 421,306 vs 44,132
    Revs 3,721,178 vs 3,125,935
    Note: Current qtr net includes a gain of 281,000 dlrs,
mostly from the sale of securities and property.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15200" NEWID="9679">
<DATE>25-MAR-1987 19:01:30.71</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;f2740&#31;reute
r f BC-DREXEL   03-25 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>DREXEL SAYS BUSINESS STRONG DESPITE TRADE PROBE</TITLE>
<AUTHOR>    By Richard Satran, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>Drexel Burnham Lambert Inc said
Wednesday its business is booming, despite its inability to
distance itself from the insider trading scandal that has
spread rumors and doubts through Wall Street.
    "For a company that's supposed to be under siege, we are
doing extremely well. We are exceedingly profitable," a
spokesman for the firm told Reuters.
    The rumors that have swirled around Drexel, more than any
other broker, have involved concerns that its business will be
threatened by the Federal probe, say Wall Street sources. The
firm has long been at the leading edge of the mergers business
and had ties to now-disgraced speculator Ivan Boesky.
    In the latest chapter of the story, Drexel said that some
commodities firms have begun to limit the amount of business
they will do with the firm, citing credit risks. Drexel has
long been a powerful competitor in precious metals markets.
    But Drexel spokesman Steve Anredder told Reuters that
Drexel's overall business is proceeding normally and the
first-quarter profit "could be the strongest of anybody on Wall
Street."
    "I wouldn't say we're not feeling any effect (from the
trading probes)," he said. "But we're doing extremely well."
    The firm was among the first to be subpoenaed in the
government's wide-ranging probe of illegal trading involving
the use of confidential company information on Wall Street.
    Believed to be under particular scrutiny was Drexel's "junk
bond" operation -- the issuance of high-risk speculative debt
that it pioneered for financing corporate takeovers.
    "We have done nothing wrong," said the Drexel spokesman.
"After a thorough investigation, we have found no evidence of
any wrongdoing by the firm or anyone within the firm."
    The spokesman said that in the aftermath of the Boesky
arrest, Drexel had not been charged. Nor had any individual at
the firm been charged with illegal acts while employed by
Drexel. One of its top merger specialists, Martin Siegel, was
charged in connection with a former job.
    Still, more than any other firm on Wall Street, Drexel has
suffered the consequences of the insider trading probe. To
begin with, there have been a series of brief shocks in the
junk bond market, in nervousness linked to rumors that Drexel
might be in trouble.
    At one point, Drexel said Wednesday, a large Midwest bank
refused to allow Drexel-issued bonds as collateral on credit
lines. Two weeks ago, the restriction was withdrawn, it said.
    The company also was notified last month that the outside
insurer of Drexel's individual brokerage accounts had decided
not to renew coverage. Drexel has set up its own subsidiary
handling part of the insurance. American International Group
and a group of British underwriters have handled the rest.
    Drexel also appears to have lost ground to others in the
mergers and acquisition business recently, market sources said.
However, Anredder said that there was no sign that Drexel had
lost any customers at all owing to the insider trading cases.
But in citing results for the quarter, the company points
mostly to other areas of success.
    Corporate financings have totaled 8 billion dlrs, including
3 billion dlrs in new junk bonds in the January-March period,
Drexel said. Drexel maintains the lion's share of this
lucrative business, trade sources noted.
    The market for junk bonds, although jittery, "has rallied
back with a vengeance," Anredder said.
    Although they see new competition in the junk bond arena,
market sources concur that Drexel remains king of the hill.
    While some of the leading Wall Street firms were limiting
head-to-head dealings with Drexel in the commodity markets 
based on worries over the credit of the company, the Drexel
spokesman called this "ridiculous."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15201" NEWID="9680">
<DATE>25-MAR-1987 19:04:37.95</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>brazil</D><D>mexico</D><D>guatemala</D><D>el-salvador</D><D>honduras</D><D>costa-rica</D><D>nicaragua</D><D>panama</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2745&#31;reute
u f BC-NO-CHANGE-IN-BRAZIL'S   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DAUSTER SAYS NO CHANGE IN BRAZIL'S COFFEE POLICY</TITLE>
<DATELINE>    RIO DE JANEIRO, MARCH 25 - </DATELINE><BODY>Brazil will not announce any
changes to its coffee export policy, Brazilian Coffee Institute
(IBC) president Jorio Dauster said.
    He told Reuters Brazil was not planning to modify the
position it held before the recent International Coffee
Organisation meeting.
    Earlier this month, talks in London to set new ICO export
quotas failed.
    Commenting on the outcome of a coffee producers' meeting in
Managua last weekend, Dauster said that they discussed nothing
involving the market.
    "In the meeting we agreed to work on behalf of the union of
the producers in matters related to an international agreement,"
Dauster said.
    The Managua meeting was attended by representatives from
Brazil, Mexico, Guatemala, El Salvador, Honduras, Costa Rica,
Nicaragua and Panama, the latter represented at the meeting
merely as an observer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15202" NEWID="9681">
<DATE>25-MAR-1987 19:06:59.77</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D><D>taiwan</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2750&#31;reute
d f BC-EXCHANGE-RATE-BILL-CL   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>EXCHANGE RATE BILL CLEARS U.S. HOUSE PANEL</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The House Banking Committee adopted
legislation to direct the U.S. Treasury to begin negotiations
aimed at seeking regular adjustment of exchange rates by  
countries such as Taiwan and South Korea whose currencies are
pegged to the value of the U.S. dollar.
    The measure was adopted as part of a wide-ranging trade
bill that will be considered by the full House in April before
it moves onto the Senate.
    The bill's many provisions also set as a priority for the
U.S. the negotiation of stable exchange rates and urge
government intervention as necessary to offset fluctuations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15203" NEWID="9682">
<DATE>25-MAR-1987 19:12:12.30</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;f2754&#31;reute
d f BC-CONSOLIDATE-CAPITAL-T   03-25 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATE CAPITAL TRUST &lt;CIOTS> 4TH QTR NET</TITLE>
<DATELINE>    EMERYVILLE, Calif., March 25 - 
    </DATELINE><BODY>Shr 32 cts vs nil
    Net 1.2 mln vs 100,000
    Avg shrs 3,692,000 vs 3,148,000
    Year
    Shr 1.02 dlrs vs 54 cts
    Net 3.7 mln vs 800,000
    Avg shrs 3,607,000 vs 1,461,000
    Note: Net is after depreciation.
    Full name is Consolidated Captial Income Opportunity
Trust/2.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15204" NEWID="9683">
<DATE>25-MAR-1987 19:13:35.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE><D>sarney</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F A
&#22;&#22;&#1;f2755&#31;reute
u f AM-DEBT-BRAZIL   03-25 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SARNEY REITERATES THAT BRAZIL WILL NOT GO TO IMF</TITLE>
<DATELINE>    BRASILIA, March 25 - </DATELINE><BODY>President Jose Sarney rejected calls
from foreign creditors and from some Brazilian businessmen that
the government talk to the International Monetary Fund.
    In a speech to about 3,000 mayors and local officials,
Sarney reiterated that the government would not accept any
monitoring of its economy by the IMF.
    He said, "We are going to struggle with courage for Brazil
and its growth. For this reason I have said that Brazil will
accept no monitoring by the IMF."
    In highly-publicized talks with Sarney near Sao Paulo last
Saturday, several Brazilian business leaders said they favoured
a return to the IMF, arguing that it would make debt
negotiations easier and bring new money into the country.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15205" NEWID="9684">
<DATE>25-MAR-1987 19:15:06.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2758&#31;reute
u f BC-U.S.-BANKS-SEEN-STEPP   03-25 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BANKS SEEN STEPPING UP SECURITIES ROLE</TITLE>
<DATELINE>    NEW YORK, March 25 - </DATELINE><BODY>The Glass-Steagall Act separating
banking and securities activities in the U.S. is all but dead
following decisions by federal and state authorities, the
chairman of Bankers Trust Co asserted.
    "There are plainly nails in the coffin of Glass-Steagall,"
Alfred Brittain said in remarks prepared for delivery to a
meeting of bank and financial analysts.
    He noted the Federal Reserve Board is due to decide Bankers
Trust's application for a subsidiary that can underwrite
certain securities.
    Brittain said New York State bank regulators have welcomed
applications for affiliates of New York-chartered banks which
could underwrite corporate securities. And he said a U.S. Court
of Appeals upheld Bankers Trust's commercial paper business.
    He said eventually the financial services industry will see
fewer but bigger companies drawn from the ranks of the present
commercial banks, investment banks and conglomerates.
    On another topic, Britain called for a redefinition of the
role of the Federal Deposit Insurance Corporation.
    "I think we should return to the original purpose of FDIC
insurance -- to protect small despositors and not depository
institutions themselves," Brittain said.
    He suggested banks be permitted to offer both insured
deposits and uninsured deposits. High quality assets would be
segregated to back up insured deposits.
    He said big banks could then fail without draining the
insurance funds. "Stockholders could be wiped out, management
rmemoved and uninsured creditors could take their fair share of
any losses," he said. But insured deposits under 100,000 dlrs
would be protected.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15206" NEWID="9685">
<DATE>25-MAR-1987 19:16:47.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2761&#31;reute
r f BC-PALO-VERDE-UNIT-3-GRA   03-25 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>PALO VERDE UNIT 3 GRANTED OPERATING LICENSE</TITLE>
<DATELINE>    WINTERSBURG, Ariz., March 25 - </DATELINE><BODY>The United States Nuclear
Regulatory Commission granted a low-power operating license to
Unit 3 of the Palo Verde nuclear plant, plant's owners said.
    Owners of the Palo Verde plant include AZP Group's Arizona
Public Service Co unit, which holds a 29.1 pct interest, and
Southern California Edison &lt;SCE> and El Paso Electric Co, which
each own a 15.8 pct stake.
   The owners said the license will allow for fueling and
testing of up to five pct of the plant's power. Fueling will
begin in a few days, they said.
    The commission must review the results of the low-power
testing before it can approve full-power operation.
    The owners of plant said they expect to begin full-power
operation by the end of 1987.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15207" NEWID="9686">
<DATE>25-MAR-1987 19:20:42.04</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2764&#31;reute
f f BC-TREASURY'S-BAKER-SAYS   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS HE STANDS BY PARIS PACT TO FOSTER STABLE CURRENCIES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15208" NEWID="9687">
<DATE>25-MAR-1987 19:24:43.82</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;f2767&#31;reute
u f BC-MEMBERS-VOTE-TO-DISSO   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MEMBERS VOTE TO DISSOLVE U.S. FARM CO-OP</TITLE>
<DATELINE>    CHICAGO, March 25 - </DATELINE><BODY>The shareholders of Illinois
Cooperative Futures Co voted to dissolve the 26-year-old firm,
the futures trading arm of 85 farm cooperatives, its president
said.
    Thomas E. Mulligan, president of the board of directors,
said 87 pct of the 61 members voting favored dissolution.
    The directors recommended the move, citing falling volume
and higher costs, when it called a special shareholders meeting
last month.
    Mulligan said the cooperative would continue operating
until April 24, when the member cooperatives will have to begin
clearing their futures trades through other companies.
    Mulligan said one of the members, Farmers Commodities of
Des Moines, Iowa, was attempting to organize a new cooperative
to replace Illinois Coop as a clearing company.
    Sources close to Farmers Commodities confirmed its plans,
but Hal Richards, president, could not be reached immediately
for comment, and it was unknown how many cooperatives might be
willing to band together.
    Industry sources said Farmers Commodities would face a
difficult task in setting up a new clearing organization by
April 24, the day Illinois Cooperative will be dissolved.
    They would have to obtain commitments from a sufficient
number of cooperatives to meet minimum capital requirements,
obtain trading memberships, and set up the office mechanisms to
handle futures trading.
    In the meantime, commercial clearing firms have been
courting the individual coops, trying to obtain their business
with low trading rates.
    If Farmers Commodities is unable to set up a clearing
organization by April 24, individual members will find other
homes, and they're unlikely to change clearing firms a second
time, one industry source said.
    The demise of Illinois Coop was set in motion by the
withdrawl of Growmark, Inc., the largest member with more than
70 pct of the capital stock, according to sources within the
cooperative.
    Mulligan acknowledged prior to the vote that Growmark had
no need to belong to the cooperative since it became affiliated
last year with Archer Daniels Midland.
    But he said Illinois Cooperative would still have been able
to meet minimum capital requirements without Growmark.
    The vote to dissolve the organization was met with "a
certain amount of pang," he said. "But in the final analysis,
the decision has to be economic, not emotional."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15209" NEWID="9688">
<DATE>25-MAR-1987 19:29:13.65</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;f2775&#31;reute
r f BC-U.S.-SENATE-FARM-PANE   03-25 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE FARM PANEL MAKEUP STILL IN DOUBT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>The composition of the Senate
Agriculture Committee, in question since the death of Nebraskan
Democratic Sen. Edward Zorinsky, remains in doubt.
    Zorinsky's death earlier this month cut the Democrats'
majority on the committee to 9-8.
    Zorinsky's replacement, Republican David Karnes, has said
he would like a seat on the panel, and Senate Republican Leader
Robert Dole (R-Kan.) is said to have thrown his support behind
Karnes, who would add a Midwestern vote to the panel.
    But Karnes' appointment to the committee would require at
least one Republican to step off the committee.
    Aides to Republican Sens. Mitch McConnell (Ky.) and Pete
Wilson (Calif.), whose spots on the panel were rumored to be in
jeopardy, said their bosses were categorically opposed to being
pushed off the committee.
    Committee Chairman Patrick Leahy (D-Vt.) told Reuters he
had rejected a suggestion that Democrats and Republicans each
add one member to the committee.
    Leahy said he would be "delighted" to have freshman Sen. John
Breaux (D-La.) join the committee. But Breaux's appointment was
being resisted by Midwestern Democrats, who feel southern
states are adequately represented on the committee.
    An aide to Sen. James Exon (D-Neb.) said the senator,
supported by Midwestern Democrats, had not ruled out the
possibility of moving to the committee.
    The inability of the two parties to settle the matter could
increase the possibility that the Democratic majority would be
left untouched at 9-8.
    The issue is expected to be resolved any day, Senate staff
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15210" NEWID="9689">
<DATE>25-MAR-1987 19:40:41.28</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2783&#31;reute
b f BC-BAKER-SAYS-HE-STANDS   03-25 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SAYS HE STANDS BY PARIS CURRENCY AGREEMENT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
he stood by the Paris agreement among leading industrial
nations to foster exchange rate stability around current
levels.
    "I would refer you to the Paris agreement which was a
recognition the currencies were within ranges broadly
consistent with economic fundamentals," Baker told The Cable
News Network in an interview.
    "We were quite satisfied with the agreement in Paris
otherwise we would not have been a party too it," he said.
    Baker also noted the nations agreed in the accord to
"co-operate to foster greater exchange rate stability around
those levels."
    He refused to comment directly on the current yen/dollar
rate but said flatly that foreign exchange markets recently
tended "to draw unwarranted inferences from what I say."
    Baker was quoted on British Television over the weekend as
saying he has no target for the U.S. currency, a statement that
triggered this week's renewed decline of the dollar.
    "I think the Paris agreement represents evidence that
international economic policy co-ordination is alive and well,"
Baker said.
    The Treasury Secretary stressed however it was very
important for the main surplus countries to grow as fast as
they could consistent with low inflation to resolve trade
imbalances.
    He added that Federal Reserve Board chairman Paul Volcker
has also "been very outspoken" in suggesting main trading
partners grow as fast as they can.
    Baker noted that the J-curve, the delayed beneficial effect
of a weakening of a currency on that country's trade balance,
takes 12 to 18 months to work its way through to the trade
deficit and it is now 18 months since the Plaza agreement to
lower the dollar's value.
    He also said improvements in the trade deficit should come
from other sources besides the exchange rate, and pointed out
the administration's package to improve U.S. Competitiveness
was now before Congress.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15211" NEWID="9690">
<DATE>25-MAR-1987 19:44:10.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f2786&#31;reute
u f BC-BAKER-DECLINES-COMMEN   03-25 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER DECLINES COMMENT ON VOLCKER REAPPOINTMENT</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker
declined to comment on whether President Reagan would reappoint
Paul Volcker to a third term as chairman of the Federal Reserve
Board.
    "I spent four years and two weeks in the White House job 
refusing to comment on personnel matters," he said in an
interview with the Cable News Network. "I'm not going to change
now."
    But Baker did say Volcker has "done a tremendous job" and
added they get on "extremely well", both when he was White House
chief of staff and during his term at Treasury.
    When asked whether he differed with Volcker on
international economic policy, Baker said "there's really no
difference of opinion between us with respect to these matters."
    In other comments, Baker said he did not think a tax rise
was a good idea and nor did President Reagan. But he believed
Congress would enact some spending cuts. "The minute you say
raise taxes, all restraints on spending go by the board."
    He once again pointed out that taxes were 19 pct of gnp but
spending was at 24 pct, a statistic he used to argue strongly
for spending cuts.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15212" NEWID="9691">
<DATE>25-MAR-1987 21:16:45.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>wang-bingqian</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2814&#31;reute
b f BC-CHINA-SAYS-1986-BUDGE   03-25 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA SAYS 1986 BUDGET DEFICIT 7.08 BILLION YUAN</TITLE>
<DATELINE>    PEKING, March 26 - </DATELINE><BODY>China posted a budget deficit of 7.08
billion yuan in 1986, the fourth highest since 1949, after a
surplus of 2.82 billion in 1985, Finance Minister Wang Bingqian
told the National People's Congress.
    He put 1986 revenue at 222.03 billion yuan, against a
budgeted 214.17 billion, and up from 185.41 billion in 1985,
and expenditure at 229.11 billion, against a budgeted 214.17
billion and 182.59 billion in 1985.
    Official figures show the record post-1949 budget deficit
was 17 billion yuan in 1979.
    Wang said the 1986 deficit was due to excess capital
construction and administrative expenses and unjustified and
extravagant investments outside the state plan.
    He also blamed the inefficiency of firms whose production
costs and losses rose. He said subsidising state firms' losses
cost 32.25 billion yuan. The 1985 budget did not give a
separate figure for this.
    He said the processing industry developed too fast and some
projects could not start operations because of power shortages,
while too many non-productive facilities were set up.
    Wang said 1986 and 1985 investment in fixed assets rose
15.3 pct and 41.8 pct respectively year on year and consumption
funds rose 12.5 pct and 23.7 pct, outstripping the growth in
national income.
    Wang said revenues were affected by the steep fall in world
oil prices, the decline in the price of primary products, a
drop in income from customs duties and the rising cost of
earning foreign exchange through exports.
    Revenue also fell because the state raised the rate of
depreciation for fixed assets of certain state firms, reduced
their regulatory tax and made other tax cuts for firms.
    Wang said 1986 tax receipts rose to 206.45 billion yuan
from 201.82 billion in 1985, state treasury bond receipts to
6.2 billion from 6.04 billion and receipts from foreign loans
rose to 7.87 billion from 2.5 billion.
    He said 1986 budgetary spending on capital construction
rose to 65.57 billion yuan from 56.97 billion in 1985, on
technical renovation and new products to 12.62 billion from
10.05 billion, aid to rural production and other farm expenses
to 12.03 billion from 10.16 billion, culture, science,
education and public health to 38 billion from 31.72 billion
and defence to 20.13 billion from 19.15 billion.
     Wang said expenditure for repaying principal and interest
on foreign loans in 1986 was 3.4 billion yuan, up from 3.26
billion in 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15213" NEWID="9692">
<DATE>25-MAR-1987 22:07:00.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>guyana</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM M C
&#22;&#22;&#1;f2840&#31;reute
u f BC-GUYANA-FINANCE-MINIST   03-25 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>GUYANA FINANCE MINISTER OPTIMISTIC BUT SEEKS HELP</TITLE>
<DATELINE>    MIAMI, March 25 - </DATELINE><BODY>Guyana hopes to overcome its financial
problems within three to five years and is now seeking help
from donor governments, Finance Minister Carl Greenidge said.
    He said Guyana took its problems in January to the
Caribbean Group for Cooperation and Development, which includes
governments and multilateral agencies, with a view to finding a
long-term recovery plan.
    Guyana's arrears to the International Monetary Fund (IMF)
are now 70 mln dlrs and it would not be eligible for new loans
in the near future, Greenidge told Reuters during the
Inter-American Development Bank (IADB) annual meeting here. MORE
    Greenidge also said a World Bank mission would visit
Georgetown this week to assess prospects for a rescue plan that
would enable Guyana to revive its economy. But he said the
government does not expect to be able to reduce its arrears
this year.
    Arrears to the IMF and the World Bank are projected to rise
to 100 mln dlrs by the end of 1987. About 90 mln dlrs of this,
equivalent to nearly half Guyana's annual exports, would be
owed to the IMF.
    "Expecting us to pay arrears is like asking a dying man to
give a pint of blood," Greenidge said.
    But Greenidge said Guyana has taken steps to reduce its
fiscal deficit, which now amounts to 65 pct of GDP. It has
increased taxes, reduced public expenditure and refinanced its
internal debt.
    He said the World Bank would meanwhile look at investment
requirements for potential export-earning projects such as gold
mining, timber, oil and kaolin.
    Because of its arrears, Guyana has been unable to draw down
a 40 mln dlr World Bank loan for a bauxite industry
rehabilitation project. Bauxite accounts for 90 mln dlrs of
exports, or 40 pct of the total.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15214" NEWID="9693">
<DATE>25-MAR-1987 22:12:22.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2845&#31;reute
u f BC-BAKER-OPPOSES-STOCK-T   03-25 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER OPPOSES STOCK TRANSACTION TAX PROPOSAL</TITLE>
<DATELINE>     WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
he opposed a stock transactions tax proposed by House Speaker
Jim Wright, D-Tex, or other special taxes.
    "The stock transfer tax would be a particularly unfortunate
approach to take," Baker said in an interview with Cable News
Network.
    The United States has some of the most efficient capital
markets in the world and new taxes would impair efficiency, he
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15215" NEWID="9694">
<DATE>25-MAR-1987 22:27:14.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2851&#31;reute
u f BC-BAKER-SEEKS-MORE-BANK   03-25 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SEEKS MORE BANK LOANS TO DEVELOPING NATIONS</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
banks must do more lending to developing countries.
    Baker, in an interview on Cable News Network, was asked
about such loans after Standard and Poor's Corp today
downgraded the debt of six major money centre bank holding
companies, largely because of their heavy loan exposure to
developing nations.
    Baker said developing countries must adopt free market
economic policies such as that of the United States. He said
capital flows will be required to support the needed reforms in
those countries' economic systems.
    The money must come either through equity or debt and Baker
said developing nations' "investment regimes do not support
enough equity investment, so you've got to have some debt
there."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15216" NEWID="9695">
<DATE>25-MAR-1987 23:08:37.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>chad</D><D>libya</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2869&#31;reute
u f BC-LIBYANS-APPEAR-TO-BE   03-25 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBYANS APPEAR TO BE PULLING OUT OF CHAD</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Libyan forces appear to be
withdrawing from their last stronghold in Chad after suffering
defeats at the hands of French-backed government troops,
according to officials in both the U.S. And France.
    In Washington, a State Department spokesman told reporters
"we have no reason to doubt that Libyan forces are leaving Faya
Largeau," Libya's main garrison in Chad.
    The French Defence Ministry said it could not confirm the
departure of the Libyan troops, but an official said "it is
extremely likely. They are deprived of air cover and supplies,
and their morale must be zero."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15217" NEWID="9696">
<DATE>25-MAR-1987 23:10:06.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>portugal</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2870&#31;reute
u f BC-CHINA,-PORTUGAL-INITI   03-25 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA, PORTUGAL INITIAL MACAO PACT</TITLE>
<DATELINE>    PEKING, March 26 - </DATELINE><BODY>China and Portugal today initialled a
joint declaration under which the 400-year-old colony of Macao
will be handed over to Peking on December 20, 1999, the
official New China News Agency reported.
    Portuguese Prime Minister Anibal Cavaco Silve said in
Lisbon yesterday that China had promised that Macao's existing
political, economic and social system will be maintained until
the year 2050.
    Macao, located across the Pearl River estuary from Hong
Kong, has a population of about 400,000 people.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15218" NEWID="9697">
<DATE>25-MAR-1987 23:28:00.08</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2879&#31;reute
u f BC-BAKER-SEES-15-TO-20-B   03-25 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SEES 15 TO 20 BILLION DLR DROP IN TRADE GAP</TITLE>
<DATELINE>    WASHINGTON, March 25 - </DATELINE><BODY>Treasury Secretary James Baker said
he expected the U.S. Trade deficit to fall by 15 billion to 20
billion dlrs in 1987.
    Commenting on the deficit during an interview on Cable News
Network, Baker said "I think you're going to see a 15 to 20
billion dlr reduction this year." The deficit was 170 billion
dlrs in 1986.
    Baker noted that the benefits of a weaker currency take 12
to 18 months to affect the trade balance, and said it is now 18
months since the Plaza agreement to lower the dollar's value.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15219" NEWID="9698">
<DATE>25-MAR-1987 23:32:44.59</DATE>
<TOPICS><D>money-fx</D><D>yen</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2883&#31;reute
f f BC-Sumita-says-further-y   03-25 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Sumita says further yen rise would adversely affect Japanese economy
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15220" NEWID="9699">
<DATE>25-MAR-1987 23:33:48.99</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2884&#31;reute
f f BC-Sumita-says-major-nat   03-25 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Sumita says major nations will continue to cooperate to stabilize currencies
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15221" NEWID="9700">
<DATE>25-MAR-1987 23:36:26.82</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2889&#31;reute
u f BC-N.Z.-MONEY-SUPPLY-RIS   03-25 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Z. MONEY SUPPLY RISES 2.4 PCT IN JANUARY</TITLE>
<DATELINE>    WELLINGTON, March 26 - </DATELINE><BODY>New Zealand's broadly defined,
seasonally adjusted M-3 money supply grew an estimated 2.4 pct
in January against a 3.4 pct (revised from 3.6) rise in
December and a 0.7 pct rise in January 1986.
    It said unadjusted M-3 increased to an estimated 30.13
billion N.Z. Dlrs from 30.08 (revised from 30.06) billion in
December and 25.18 billion in January 1986.
    Year-on-year M-3 rose 19.66 pct in January from 17.80 pct
(revised from 17.77) in December and 20.10 pct in January 1986.
    Narrowly defined year-on-year M-1 growth was 21.94 pct in
January against 15.89 pct in December and 14.10 pct a year
earlier.
    M-1 grew to an estimated 4.72 billion dlrs against 5.03
billion in December and 3.87 billion in January 1986.
    Year-on-year private sector credit, PSC, grew 31.07 pct in
January against 30.64 pct (revised from 30.68) in December and
21.40 pct in January 1986. PSC grew to 22.69 billion dlrs from
22.24 billion in December and 17.31 billion in January 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15222" NEWID="9701">
<DATE>25-MAR-1987 23:44:33.00</DATE>
<TOPICS><D>money-fx</D><D>yen</D><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2894&#31;reute
b f BC-FURTHER-YEN-RISE-WOUL   03-25 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>FURTHER YEN RISE WOULD HURT JAPAN ECONOMY, SUMITA</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Bank of Japan Governor Satoshi Sumita
said a further yen rise would have adverse effects on the
Japanese economy.
    He told Japanese business leaders the Bank of Japan will
continue to take adequate measures, including market
intervention, to stabilize exchange rates if necessary, in
close cooperation with other major industrialized nations. He
said the current instability of exchange rates will not last.
    Six major nations - Britain, Canada, France, Japan, the
U.S. And West Germany - agreed in Paris last month to act
together to hold currencies stable.
    Sumita said the Bank of Japan will continue to pursue
adequate and flexible monetary policies while watching economic
and financial developments in and outside Japan.
    He said the decision to cut the discount rate on February
20 was a hard choice for the Bank because monetary conditions
had already been sufficiently eased.
    To prevent a resurgence of inflation, the Bank will take a
very cautious stance regarding developments stemming from easy
credit conditions, he said.
    He said the latest discount rate cut to 2.5 pct should
stabilize exchange rates and expand domestic demand.
    Commenting on the dollar's fall below 150 yen, Sumita
reiterated he cannot find any specific reason for the
currency's weakness.
    The market undertook speculative dollar selling by reacting
to overseas comments by monetary authorities and trade tension,
he said.
    Sumita repeated that the Japanese economy may gradually
recover in the latter half of the 1987/88 fiscal year ending
April 1, 1988, provided exchange rates stabilize.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15223" NEWID="9702">
<DATE>26-MAR-1987 00:02:46.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0001&#31;reute
u f BC-JAPAN-VTR-AND-TV-EXPO   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN VTR AND TV EXPORTS FALL IN FEBRUARY</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Japan's video tape recorder (VTR) exports
fell to 1.73 mln sets in February from 2.01 mln a year earlier
for the fourth successive year-on-year drop, Finance Ministry
customs-cleared export statistics show.
    But February exports were up from 1.34 mln in January.
    Cumulative exports in the first two months of 1987 totalled
3.07 mln sets against 3.73 mln a year earlier.
    Exports to the U.S. Fell to one mln sets in February from
1.26 mln a year earlier, and those to the European Community
(EC) fell to 232,275 from 263,009.
    In the EC total, shipments to West Germany fell to 97,633
from 100,218 a year earlier and those to the U.K. Fell to
32,652 from 53,020.
    Colour television exports fell to 343,315 sets in February
from 416,832 a year earlier for the 16th consecutive
year-on-year drop, bringing cumulative exports so far this year
to 588,720 against 769,874 a year earlier.
    February exports compared with 245,405 in January.
    Exports to the U.S. Fell to 1.01 mln sets from 1.12 mln a
year earlier and those to the EC fell to 33,763 from 67,955.
Shipments to China fell to 39,858 from 53,925.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15224" NEWID="9703">
<DATE>26-MAR-1987 00:22:21.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0007&#31;reute
u f BC-DEMOCRAT-LOSES-BID-TO   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>DEMOCRAT LOSES BID TO WIN CONTRA AID ACCOUNTING</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Senate Democratic leader Robert Byrd
yesterday failed to win the 60 votes needed to force a Senate
vote on a bill demanding President Reagan account for U.S. Aid
to the Nicaraguan Contras, including millions of dollars
diverted to the rebels from U.S. Arms sales to Iran.
    Following the defeat, Byrd said he would drop his effort,
ending congressional manoeuvring over the 40 million dlr final
instalment of a 100-million-dlr aid package approved last year
for the contras.
    Without congressional action to stop it, the aid became
legally available to the Contras last weekend.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15225" NEWID="9704">
<DATE>26-MAR-1987 00:25:33.34</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>de-clercq</D></PEOPLE>
<ORGS><D>ec</D><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0008&#31;reute
u f BC-EC-LINKS-AGRICULTURAL   03-26 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>EC LINKS AGRICULTURAL TRADE TALKS TO OTHER REFORM</TITLE>
<DATELINE>    SYDNEY, March 25 - </DATELINE><BODY>The European Community (EC) considers
talks on agricultural trade reform to be inseperable from talks
on other trade reform in the present GATT round, Willy de
Clercq, external relations commissioner of the EC, said.
    He told reporters here the EC would not bow to pressure to
reach an early, seperate agreement on agricultural trade.
    He said the EC wanted to stick to the four-year schedule
agreed by members of the General Agreement on Tariffs and Trade
(GATT) in Punta del Este, Uruguay, last year. That included
agricultural trade liberalisation for the first time in the
lengthy program to re-negotiate the GATT.
    Other trade issues being discussed in the current GATT
round include reform of trade in merchandise and services.
    De Clercq is on his way to China after attending a two-day
conference for 22 GATT trade ministers held in New Zealand.
    Several of those ministers criticised the EC for what they
saw as restrictive agricultural trade practices and called for
urgent reforms. U.S. Trade representative, Clayton Yeutter,
also said it was important agreement on agricultural trade
reform was reached as early as possible.
    But de Clercq said the GATT program had been reached after
long and hard negotiations, and the EC did not want changes.
    "We just want to stick to the agreement which was reached,
and that was very clear -- that the new round would be one
undertaking. It is a global negotiation with no two tracks, no
fast track, no slow track. It has just one track, the track -
and that's all," de Clercq said.
    "If you start selecting priorities, your priority is not my
priority. We say that agriculture is urgent, but it's not the
only urgent thing," he said.
    He said the Punte del Este agreement had taken eight months
to prepare and eight days of negotiations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15226" NEWID="9705">
<DATE>26-MAR-1987 00:49:08.16</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>thailand</D><D>vietnam</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0025&#31;reute
u f BC-VIETNAM'S-ARMY-ORDERE   03-26 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>VIETNAM'S ARMY ORDERED TO GROW MORE FOOD</TITLE>
<DATELINE>    BANGKOK, March 26 - </DATELINE><BODY>Vietnam has ordered its army to grow
more food to ease shortages and meet economic recovery goals
set for 1990.
    The army newspaper Quan Doi Nhan Dan, monitored here, said
soldiers must work harder to care for rice, vegetables and
other crops endangered by the present unusually hot weather.
    The paper said the 1.6-mln strong regular army contributed
less than one pct to the nation's 18.2 mln tonne food output.
    North Vietnam has set a 1990 food target of 23 to 24 mln
tonnes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15227" NEWID="9706">
<DATE>26-MAR-1987 01:01:30.93</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0027&#31;reute
r f BC-LINDE-TURNOVER-UP-IN   03-26 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>LINDE TURNOVER UP IN FIRST TWO MONTHS OF 1987</TITLE>
<DATELINE>    WIESBADEN, West Germany, March 26 - </DATELINE><BODY>Engineering group Linde
AG's &lt;LING.F> world group turnover rose to 518.6 mln marks in
the first two months of 1987, 5.2 pct more than in the same
1986 period, management board chairman Hans Meinhardt said.
    But world group incoming orders fell 2.2 pct to 587.3 mln
marks, Meinhardt told the annual news conference. Excluding
exchange rate movements, world group turnover rose 8.9 pct and
incoming orders increased 1.0 pct.
    Linde expects satisfactory results and increased sales this
year but Meinhardt gave no detailed forecast. Domestic group
1986 net profit rose to 105.79 mln marks from 80.71 mln.
    Meinhardt said domestic group turnover rose 6.7 pct to
394.1 mln marks in the first two 1987 months against the same
period last year but incoming orders fell 5.2 pct to 456.6 mln.
    Linde will ask shareholders at the annual meeting on May 13
to raise authorised share capital by a maximum 30 mln marks
nominal for the issue of share warrant bonds with a maximum
issue volume of 200 mln marks. Linde's authorised share capital
currently stands at a nominal 49.6 mln marks.
    Meinhardt said the authorisation would give the company the
necessary flexibility in case Linde needed additional funds for
acquisitions. He declined to give further details.
    While world group turnover rose 7.2 pct to 3.88 billion
marks in 1986, incoming orders were barely changed at 3.91
billion marks. Meinhardt said without the sharp appreciation of
the mark against major trading partner currencies, incoming
orders would have been four pct above the prior year's level.
    World group turnover in heavy plant construction rose 7.4
pct to 777 mln marks, but incoming orders dropped 5.7 pct to
739 mln marks in the wake of the dollar and oil price plunge.
    World sales for technical gases rose 5.1 pct to 1.05
billion marks and incoming orders gained 5.2 pct to 1.05
billion marks.
    Meinhardt said Linde strengthened its market position in
the refrigeration sector, with particularly strong turnover and
order gains in Austria, Italy and Norway. World group sales in
the sector fell 2.5 pct to 493 mln marks, but incoming orders
rose 2.5 pct to 513 mln marks.
    The fork lift truck and hydraulic sector saw world group
sales rising 12.4 pct to 1.52 billion marks and incoming orders
gaining 8.0 pct to 1.57 billion marks.
    Domestic group turnover rose 8.2 pct to 2.93 billion marks
and incoming orders increased 1.9 pct to 2.92 billion marks.
The company was producing at full capacity in 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15228" NEWID="9707">
<DATE>26-MAR-1987 01:02:07.02</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0028&#31;reute
u f BC-LINDE-AG-&lt;LING.F>-198   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>LINDE AG &lt;LING.F> 1986 YEAR</TITLE>
<DATELINE>    WIESBADEN, West Germany, March 26 -
    </DATELINE><BODY>Domestic group net profit 105.79 mln marks vs 80.71 mln
    Turnover 2.93 billion marks vs 2.71 billion
    Incoming orders 2.92 billion marks vs 2.86 billion
    Order book at end December 2.28 billion vs 2.37 billion
    Tax payments 104.98 mln marks vs 88.67 mln
    Depreciation of fixed assets 107.25 mln marks vs 150.75 mln
    New investment in fixed assets 148.88 mln vs 148.22 mln
    Dividend already announced 12 marks vs 11
    DVFA earnings per share 32.22 marks vs 27.54 marks
    Shareholders annual meeting May 13, dividend date May 14
    World group turnover 3.88 billion marks vs 3.62 billion
    Incoming orders 3.91 billion marks vs 3.91 billion
    New investment in fixed assets 247 mln marks vs 252 mln
    No world group profit figures given
    Parent company net profits 95.04 mln marks vs 74.91 mln
    Turnover 2.28 billion marks vs 2.14 billion
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15229" NEWID="9708">
<DATE>26-MAR-1987 01:06:01.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0033&#31;reute
u f BC-PACIFIC-DUNLOP-ANNOUN   03-26 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC DUNLOP ANNOUNCES AIDS PROTECTION DISCOVERY</TITLE>
<DATELINE>    MELBOURNE, March 26 - </DATELINE><BODY>Pacific Dunlop Ltd &lt;PACA.ME> said
studies by its &lt;Ansell International> latex-product unit have
shown a commonly-used spermicidal cream kills the AIDS virus.
    Ansell regional director Chris Humphrey told a news
conference the cream, already used in a condom brand as
additional contraceptive protection, killed on contact the
virus causing AIDS (acquired immune deficiency syndrome).
    The discovery meant sexually active people could have a
second level of protection against AIDS if a condom ruptured
during sex, Humphrey said. "This is the best available
protection against AIDS next to abstinence," he said.
    But David Pennington, the head of Australia's government
sponsored AIDS taskforce, said the use of the cream provided a
slight safeguard but was no great breakthrough.
    Pennington said that in the event of a condom rupturing
semen was likely to travel beyond the cream's range.
    Humphrey said the studies, commissioned by Ansell from
Nelson Gantz of the University of Massachusetts and Fred Judson
of the University of Colorado, showed nonoxynol-nine destroyed
the AIDS virus present in 100 pct of rupture tests.
    But he said it was not known whether nonoxynol-nine was as
effective in sexual situations.
    He stressed it was neither a cure nor a vaccine for AIDS.
    Humphrey said nonoxynol-nine had been used for about 20
years as a spermicidal cream without side-effects.
    Analysts have attributed much of the rise in Pacific
Dunlop's share price from 3.87 dlrs at the beginning of the
year to a high of 5.36 dlrs to expected growth in its condom
business. It closed today eight cents down at 4.67 dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15230" NEWID="9709">
<DATE>26-MAR-1987 01:13:01.71</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;f0035&#31;reute
u f BC-BANK-OF-NEW-ZEALAND-S   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF NEW ZEALAND SHARES TO BE LISTED NEXT WEEK</TITLE>
<DATELINE>    WELLINGTON, March 26 - </DATELINE><BODY>&lt;Bank of New Zealand> (BNZ) shares
will be listed on the New Zealand Stock Exchange next week,
probably on Tuesday, the BNZ said.
    "We look forward to the challenge of public accountability
through the open market," it said.
    BNZ, previously wholly owned by the state, issued 103 mln
shares to the public in February, or nearly 13 pct of its
capital, to raise 180.25 mln N.Z. Dlrs.
    The publicly held shares will not have voting rights.
    The government will retain 87 pct of the BNZ's capital, a
total of 800 mln ordinary shares.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15231" NEWID="9710">
<DATE>26-MAR-1987 01:13:30.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0036&#31;reute
b f BC-JAPAN-SEEN-CUTTING-AP   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN SEEN CUTTING APRIL BOND COUPON FROM FIVE PCT</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>The underwriting syndicate expects the
Finance Ministry to propose a 0.2 to 0.3 percentage point cut
in the coupon of the 10-year government bond to be issued in
April from the five pct March issue, underwriting sources said.
    The expected proposal is likely to await passage of a
provisional budget for 1987/88 starting April 1 by the Lower
House of Parliament on March 30, the sources said.
    Issue volume is likely to be 1,200 to 1,400 billion yen
against 475 billion in March, they said. Projected issue price
is around par against 99.50 for the March bond, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15232" NEWID="9711">
<DATE>26-MAR-1987 01:27:34.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>sse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0039&#31;reute
u f BC-SINGAPORE-RULE-CHANGE   03-26 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE RULE CHANGES SEEN HAVING LITTLE IMPACT</TITLE>
<DATELINE>     SINGAPORE, March 26 - </DATELINE><BODY>Revisions to the by-laws of the
Stock Exchange of Singapore to be introduced on April 1 will
have little impact on the market, brokers and analysts said.
    One analyst did say, however, that the removal of fixed
commissions on transactions in government securities and Asian
currency bonds would increase trading volume, because most
deals before were transacted directly between clients.
    One change will allow stockbroking firms to advertise, but
brokers said this would not have much effect because most
corporate clients already know the market well.
    Many remisiers (brokers' agents) and dealers criticised the
exchange for not taking the opportunity to abolish or cut
transfer fees on remisiers moving to other firms.
    One remisier said the transfer fees inhibit an efficient
broking system because they restrict brokers' movements.
    But most remisiers welcomed the amendment to replace cash
deposits with bank guarantees for business transactions. Where
an extra deposit is needed, it can in future be either in cash
or in securities approved by the exchange.
    Other remisiers felt the new rule that they must report all
transactions involving 50,000 dlrs or more to the exchange was
unnecessary.
    Another revision says broking firms are not allowed to
improve a buying and selling quote by more than one bid during
the last five minutes of trading.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15233" NEWID="9712">
<DATE>26-MAR-1987 01:28:30.89</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0041&#31;reute
u f BC-TRADE-SURPLUS-CUT-WOU   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>TRADE SURPLUS CUT WOULD BENEFIT JAPAN - SUMITA</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Bank of Japan Governor Satoshi Sumita
said it is in Japan's national interest to make greater efforts
to reduce its trade surplus.
    He told business executives the most important issues for
the world economy are the correction of international trade
imbalances and a solution to the world debt problem.
    To this end, Japan and the U.S. Must make medium- and
long-term efforts to alter economic structures which have
expanded the trade gap between the two nations. World economic
growth and therefore an expansion of debtor countries' export
markets are needed to solve the debt issue, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15234" NEWID="9713">
<DATE>26-MAR-1987 01:33:38.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0044&#31;reute
u f BC-VIOLENCE-REPORTED-IN   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>VIOLENCE REPORTED IN ECUADOR GENERAL STRIKE</TITLE>
<DATELINE>    QUITO, March 26 - </DATELINE><BODY>At least 14 people were injured and many
arrested in clashes during a one-day general strike called by
Ecuadorean workers to protest against austerity measures
imposed after a major earthquake on March 5.
    Interior Minister Luis Robles said the worst violence was
in Quito, where demonstrators threw rocks at a luxury hotel and
a number of banks.
    Over 80 people in eight cities were detained for stoning
police, attacking troops, damaging buildings and setting fire
to cars, he said. The casualty and damage toll is expected to
rise as detailed reports reach the capital from the provinces.
    Labour leaders said they shut down all of Ecuador's
industrial plants, but Labour Minister Jorge Egas said of the
country's 900 largest factories only 86 were closed, 32 were
partially working and the rest operating normally.
    The strike, called by leftist unions and declared illegal
by the government, was aimed at pressing the administration to
scrap an austerity program adopted on March 13 following an
earthquake that killed up to 1,000 people and caused an
estimated billion dlrs in damage.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15235" NEWID="9714">
<DATE>26-MAR-1987 01:54:59.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE><D>ongpin</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0050&#31;reute
u f BC-PHILIPPINE-DEBT-TALKS   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE DEBT TALKS PROCEED WITH NARROWER FOCUS</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>The latest round of talks between
Philippine officials and the country's commercial bank
creditors on the rescheduling of 9.4 billion dlrs worth of debt
are still proceeding, but with a narrower focus, Philippine
Finance Secretary Jaime Ongpin said.
    He told a press briefing Wednesday that Manila has dropped
a two-tier interest payment offer, which would have given banks
a higher return if they took partial payment in new Philippine
investment notes (PINs) instead of in cash.
    "The PINs proposal has been laid aside.... The discussion is
now on pricing (of just the cash payments)," he said.
    Foreign banking sources in Manila said on Tuesday that the
Philippines had raised its basic interest rate offer to 7/8
over the London interbank offered rate (LIBOR) but Ongpin would
not discuss details of the pricing negotiations.
    He also refused to speculate on when an overall agreement
might be reached. The talks have been going on for more than
three weeks.
    Manila originally offered to pay interest in cash at 5/8
over LIBOR or in a mixture of cash and PINs -- tradeable,
dollar-denominated, zero coupon notes that could potentially
yield up to one point over LIBOR.
    The PINs option was subsequently modified to guarantee at
least a 7/8 point spread over LIBOR but many bankers still had
grave reservations, seeing it as a possible precedent for other
large debtors to avoid paying interest in cash.
    The PINs proposal has now been left on the table as a
separate option for those banks, which might want to fund their
own investments in the Philippines or sell the notes in the
secondary market, Ongpin said.
    Under Manila's plan, the PINs would be redeemable at full
face value in Philippine pesos to fund local equity investments
at any time prior to their six-year maturity date.
    While the commercial banks had their doubts about the PINs
proposal, Ongpin said there was great interest on the part of
certain investment banks which are already active in the
secondary market for sovereign debt.
    Unlike current debt/equity schemes, Ongpin said, the PINs
would include no government fees and would be free from
"administrative hassles."
    He said about six investment banks had been approached and
four had replied so far. One even showed interest in buying 45
mln dlrs worth of notes, he said.
    Ongpin said that by funding current interest payments in
the secondary market through the PINs scheme, the Philippines
could conserve at least one to 1.5 billion dlrs of foreign
exchange reserves during its planned seven-year restructuring
period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15236" NEWID="9715">
<DATE>26-MAR-1987 02:03:31.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>mexico</D><D>peru</D></PLACES>
<PEOPLE><D>garcia</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0060&#31;reute
u f BC-GARCIA-SAYS-PERU-NOT   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>GARCIA SAYS PERU NOT TRYING TO EXPORT DEBT STANCE</TITLE>
<DATELINE>    MEXICO CITY, March 26 - </DATELINE><BODY>Peruvian President Alan Garcia said
his government was not trying to convince other nations to
follow its decision to limit foreign debt repayments.
    "We do not want to export a model," Garcia told a press
conference at the end of an official two-day visit to Mexico
yesterday. He was referring to Peru's policy of limiting
payments on its 14 billion dlr debt to 10 pct of its export
earnings.
    Peru's attitude contrasts with that of Mexico, which
followed a more conciliatory route and last week signed a 7.7
billion dlr loan package with its creditor banks.
    Since it decided to put a ceiling on debt payments, Peru
has been barred from International Monetary Fund lending.
    Despite their different approaches to debt, Garcia and
Mexican President Miguel de la Madrid issued a joint
declaration yesterday calling the foreign debt problem an
"expression of the present unjust international economic order."
But the declaration said that no Latin American debtors' club
was about to appear.
    "We affirm the sovereignty of our economic decisions and the
capacity for mobilising our own resources," it said.
    The two presidents also signed a variety of agreements
aimed at boosting trade and tourism between their countries as
well a number of technical cooperation pacts.
    Garcia was scheduled to return to Lima tomorrow.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15237" NEWID="9716">
<DATE>26-MAR-1987 02:12:03.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0073&#31;reute
u f BC-SUPREME-COURT-UPHOLDS   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SUPREME COURT UPHOLDS AFFIRMATIVE ACTION FOR WOMEN</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>The U.S. Supreme Court upheld
affirmative action programmes designed to promote women in the
workplace yesterday, handing President Reagan's civil rights
policy a major defeat.
    Tn a 6-3 decision, the court held that the civil rights
laws allow employers to take the gender of workers into account
to improve female representation in the workforce.
    The Reagan administration had charged that affirmative
action is reverse discrimination.
    The case involved the 1980 promotion of a female road yard
clerk, Diane Joyce, over a more qualified male, Paul Johnson.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15238" NEWID="9717">
<DATE>26-MAR-1987 02:23:26.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D><D>south-korea</D><D>taiwan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0079&#31;reute
u f BC-ECONOMIC-SPOTLIGHT--   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - HONG KONG'S MORE ACTIVE ROLE</TITLE>
<AUTHOR>    By William Kazer, Reuters</AUTHOR>
<DATELINE>    HONG KONG, March 26 - </DATELINE><BODY>Hong Kong's government has long kept
intervention in the economy to a minimum in the belief that
when it comes to business, businessmen generally know best.
    But the government is slowly being forced to take a more
active economic role, partly to face the challenge from fast
growing economies like South Korea and Taiwan and economic
powerhouse Japan, businessmen said.
    The government announced this month it will spend six mln
H.K. Dlrs over the next two years to encourage electronics
firms to send engineers for training overseas.
    The engineers will learn design of application specific
integrated circuits (ASIC) used in products ranging from
personal computers to high-technology toys that talk.
    The government has funded vocational training before but
this will be its first such program aimed at bringing back
advanced technology from overseas.
    Government officials told Reuters that other areas in the
electronics sector are being considered for similar treatment.
    Hong Kong's key electronics industry last year accounted
for exports of 61 billion H.K. Dlrs, though the total includes
sales of electrical machinery and other items.
    Officials said that this key sector, second only to
textiles in terms of exports, needs high technologies already
available in neighbouring economies if it is to compete.
    "Belatedly, we realize there are some technologies which
can't be taught here," said K.Y. Yeung, Director of Industry.
    A study by U.S. Research firm Dataquest Inc last year
showed that Hong Kong's share of U.S. Consumer electronic
imports had fallen to 3.5 pct in 1985 from 6.4 pct in 1983.
    South Korea, Taiwan and Japan all take a more active role
in guiding economic development and policy makers are worried
that perhaps some assistance -- albeit limited -- is needed.
    "This is perceived to be an area of development for Hong
Kong," said Lawrence Mills, director-general of the Federation
of Hong Kong Industries. "Many industrialists think government
should be more actively concerned with this area."
    Hong Kong likes to call its policy "positive
non-intervention," meaning that it helps industry mainly by
maintaining economic stability and ensuring that needed roads
and harbour facilities are in place.
    It offers no special tax incentives for foreign investors,
believing that its low corporate profits tax of 18 pct and
personal income tax of 16.5 pct are sufficient.
    But the government has been forced to gradually take a more
active role in the economy. In the last three years it has
stepped in to aid seven problem banks, taking over three of
them, to protect depositors whose funds were not insured.
    It has also expanded the powers of its banking and
securities commissions to police these key economic sectors.
    Industry officials said manufacturers need help acquiring
expensive new technology, especially when returns on investment
are years away. "This is only a small start but it will help
make this technology more readily available," said an engineer
with a major U.S. Electronics firm in Hong Kong.
    Texas Instruments Inc &lt;TXN> and Motorola Inc &lt;MOT> of the
U.S. And Japan's Toshiba Corp &lt;TSBA.T> already conduct ASIC
design work in Hong Kong, while a handful of firms have
committed funds for capital-intensive production.
    Under the industry department program, companies would be
funded to train engineers overseas but those employees would be
required to apply their new skills locally for an as yet
unspecified period.
    "We want to promote ASIC design and eventually production in
Hong Kong," said Yeung of the Industry Department.
    Some industrialists said it will take more than a training
program to keep electronics manufacturers competitive in the
years ahead. Government officials said most manufacturers in
the industry are small scale, employing fewer than 100 people.
    These firms will not be able to afford expensive technology
development programs, industry officials said.
    The program has raised concerns that government may one day
veer too far from its policy of minimal intervention. "They've
reached the right decision," said Mills of the Federation of
Industries. "But the fear (among some firms) is it might be a
slippery slope towards interference."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15239" NEWID="9718">
<DATE>26-MAR-1987 02:35:20.53</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0092&#31;reute
u f BC-GULF-ESCORTS-STILL-UN   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF ESCORTS STILL UNDER DISCUSSION - WEINBERGER</TITLE>
<DATELINE>    FORT WORTH, Texas, March 26 - </DATELINE><BODY>No action has been taken yet
on the Reagan Adminstration's offer to escort Kuwaiti oil
tankers through the Gulf, but the issue is being discussed,
U.S. Secretary of Defence Caspar Weinberger said.
    The offer was made to Kuwait in light of Iran's deployment
of Chinese-built missiles to cover the entrance to the Gulf.
    Weinberger told reporters prior to a speech at Texas
Christian University that he did not think Iran and the United
States were moving towards a potential conflict, adding that
the Straits of Hormuz at the mouth of the Gulf were still "free
water."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15240" NEWID="9719">
<DATE>26-MAR-1987 02:39:31.80</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;f0095&#31;reute
u f BC-SRI-LANKA-TO-LAUNCH-A   03-26 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SRI LANKA TO LAUNCH APPEAL FOR DROUGHT AID</TITLE>
<DATELINE>    COLOMBO, March 26 - </DATELINE><BODY>Sri Lanka will appeal to its major aid
donors for at least 21 mln dlrs in financial support to help it
overcome the country's worst drought in 26 years.
    Government officials told Reuters that letters detailing
the extent of the drought would be sent this week to the 14
countries that gave some 700 mln dlrs in development aid to Sri
Lanka last year. These include Australia, Canada, Japan,
Britain, the U.S. And West Germany.
    Officials in the Finance and Planning Ministry coordinating
the aid request said Sri Lanka wanted the money over a
six-month period.
    Foreign Minister Tyronne Fernando last week briefed
representatives of aid-donor countries and international relief
agencies on the drought and made a general appeal for help.
    The state had disbursed 800,000 dlrs by February for the
most badly affected districts, but the Finance and Planning
Ministry officials said no further relief was available from
the budget.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15241" NEWID="9720">
<DATE>26-MAR-1987 02:42:26.72</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0100&#31;reute
b f BC-MIYAZAWA-SAYS-MAJOR-N   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS MAJOR NATIONS ACTING ON PARIS ACCORD</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa said
major nations are taking action to stabilise exchange rates in
line with their agreement in Paris last month, government
sources said.
    Miyazawa told an Upper House session the six nations --
Britain, Canada, France, Japan, the U.S. And West Germany --
are abiding by the Paris accord. The six agreed to cooperate to
stabilise exchange rates at around current levels.
    Miyazawa said he wishes to attend a meeting of seven major
nations (G-7) expected just before the IMF/World Bank Interim
Committee meeting in Washington starting on April 9.
    The sources quoted Miyazawa as saying Japan is trying to
prevent a further rise of the yen. Japan is taking the matter
seriously, he added.
    Asked if the six nations had agreed to stabilise the dollar
at about 153 yen, the rate prevailing at the time of the Paris
talks, Miyazawa declined to give specific figures and said any
mention of specific rates would create an "unexpected situation."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15242" NEWID="9721">
<DATE>26-MAR-1987 02:47:04.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>south-africa</D><D>philippines</D><D>el-salvador</D><D>honduras</D><D>guatemala</D><D>costa-rica</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0102&#31;reute
u f BC-U.S.-HOUSE-PANEL-APPR   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PANEL APPROVES 400 MLN DLRS FOREIGN AID</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>The House of Representatives
Appropriations Committee yesterday approved 300 mln dlrs in
economic aid for four Central American states, 50 mln dlrs to
black-led states neighbouring South Africa and 50 mln dlrs in
military assistance for the Philippines.
    The programmes, part of 1.3 billion dlr supplemental budget
request by the Reagan administration to restore funds cut
earlier by Congress, must be approved by Congress.
    The committee rejected the administration's request for
21.6 mln dlrs as the U.S. Contribution to U.N. Peace-keeping
troops in Lebanon.
    The 300 mln dlrs will go to El Salvador, Honduras,
Guatemala and Costa Rica while another 12 mln dlrs was
allocated to replace the earthquake-damaged U.S. Embassy in San
Salvador.
    The 50 mln dlrs approved for a "Southern Africa" initiative
is part of a larger programme promised by the Reagan
administration last year when it tried unsuccessfully to block
sanctions approved by Congress against South Africa's
white-minority government.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15243" NEWID="9722">
<DATE>26-MAR-1987 02:50:02.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0105&#31;reute
u f BC-ECONOMIC-SPOTLIGHT--   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - TOKYO EARTHQUAKE AFTERSHOCKS</TITLE>
<AUTHOR>    By Eric Hall, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>The possibility that a major earthquake
will strike Tokyo, causing corporate and financial ruin, haunts
the worst nightmares of many insurers and bankers polled by
Reuters.
    The Japanese capital is shaken by hundreds of small tremors
every year, but last week's biq quake in western Japan, which
measured 6.9 on the open-ended Richter scale, was a timely
reminder that the big one could come at any time.
    Another on Tuesday registering a preliminary 6.5 on the
scale struck the Sea of Japan coast northwest of Tokyo.
    A widely accepted theory by the late seismologist Kawasumi
Hiroshi states that major quakes occur in cycles averaging 69
years. Tokyo was last laid flat in 1923 by a tremor reading
7.8, raising the spectre of another within five years.
    Seismic experts at Shizuoka, one of three areas near Tokyo
considered quake-prone, say they expect a major earthquake
within the next few years.
    Added to such fears is the fact that no developed nation
has suffered a major quake since the far-reaching changes in
the last two decades which have bound the global economy into a
complex, fragile, interdependent financial network.
    "We are reaching a dangerous time. Insurance companies are
starting to worry about how to cover the large losses," said
Hatsuho Narita, a manager at the British Insurance Group.
    "It's a theme that has worried a lot of people. It's
difficult to put a figure on it, but the impact on all world
markets would be considerable," Brian Waterhouse, a banking
expert at brokerage James Capel in Tokyo, told Reuters.
    What would happen?
    Consider that Tokyo and its six surrounding prefectures
account for up to 40 pct of Japanese gross national product, or
some six pct of world GNP.
    Some economists believe that in the immediate aftermath of
a Tokyo quake, the yen would rise against sterling because of
the large amount of reinsurance which would fall due in London.
But it would plunge against other currencies.
    This would worsen the dramatic loss of value in land and
assets in the Tokyo area. Banks would be left holding hundreds
of billions of dollars in worthless mortgages and loans.
    Bankers estimate that 50 to 70 pct of city and regional
banks' loan exposure is to smaller business, which would most
likely lose all in a quake. Up to nine pct of their exposure is
in housing and consumer loans, they said.
    Many smaller banks and some larger ones would go to the
wall, bankers polled by Reuters said.
    The government, aware that insurance claims would be huge,
has set a payout ceiling of 10 mln yen per private house. In
Tokyo, 100 mln yen buys only a very modest residence.
    In addition, the insurance industry has formed the Japan
Earthquake Reinsurance Co to cover housing to a total of 10
billion dlrs, 80 pct of it government-guaranteed.
    However, insurers said the industrial sector, which has no
government backing, is a more dangerous risk.
    Japanese insurers said they are finding it increasingly
difficult to find reinsurance abroad.
    "Overseas firms are now very alert to earthquake insurance
risks," said Tahashi Kumakiri, Foreign Department head at the
Japan Non-life Insurance Association.
    Due to limited world insurance capacity, the Finance
Ministry recommends a coverage limit of 15 to 30 pct of
Japanese firms' total insurable value.
    Even so, one insurer believes that local firms reinsure up
to 80 pct of their quake cover overseas, most of it through
Lloyds of London.
    Some of this reinsurance is then reinsured again,
compounding the risks should the money suddenly be called in.
    Foreign entities in Japan are allowed 100 pct quake cover
but foreign insurers now set a limit of 60 pct.
    Industrial cover is confidential but official figures show
that in fiscal 1985/86 ended March 31, Japan did about half a
billion dlrs of overseas reinsurance business in fire cover,
most of which is quake-related.
    Bankers said the destruction of underlying assets and
repatriation of huge amounts of Japanese overseas investment
would seriously affect overseas stock and bond markets.
    Japanese institutions buy a net 10 billion dlrs or so of
foreign bonds a month, much of it U.S. Treasuries, and are
purchasing more and more U.S. And European stocks. The value of
foreign holdings of Japanese securities would nosedive.
    Japan would need huge amounts of money over a long period
to rebuild, which would block out developing nation creditors
from existing capital resources, the bankers said.
    Loss of central computers would mean billions in lost
transactions, bankers noted.
    Oil traders said crude prices would plummet as imports fell
by up to half from some three mln barrels per day now.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15244" NEWID="9723">
<DATE>26-MAR-1987 02:50:21.33</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0106&#31;reute
f f BC-Hoechst-AG-1986-world   03-26 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Hoechst AG 1986 world group pretax profit 3.21 billion marks vs 3.16 billion
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15245" NEWID="9724">
<DATE>26-MAR-1987 02:56:13.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0111&#31;reute
u f BC-AIDC-ISSUES-FIRST-AUS   03-26 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AIDC ISSUES FIRST AUSTRALIAN DLR MEDIUM TERM NOTES</TITLE>
<DATELINE>    CANBERRA, March 26 - </DATELINE><BODY>The Australian Industry Development
Corp (AIDC) said it issued 20 mln Australian dlrs of five-year
notes in London.
    The notes, issued in denominations of 50,000 dlrs, were
part of a 10-year, one billion U.S. Dlr multicurrency facility
established last December, it said in a statement.
    Medium-term Euronotes had previously only been issued in
U.S. Dlrs, it said.
    The AIDC last week said it issued under the same facility
the first of several five mln Australian dlr-denominated
Euro-commercial paper tranches in Asia.
    Dealers for the one billion U.S. Dlr borrowing program were
the AIDC, &lt;Credit Suisse First Boston Ltd>, &lt;Merrill Lynch
International and Co>, &lt;Morgan Stanley International>, &lt;Salomon
Brothers International Ltd> and &lt;Swiss Bank Corp International
Ltd>, the AIDC said.
    &lt;Citibank N.A.> was the issuing and paying agent.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15246" NEWID="9725">
<DATE>26-MAR-1987 02:59:52.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0120&#31;reute
u f BC-MAZDA-DOES-NOT-PLAN-T   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MAZDA DOES NOT PLAN TO MAKE SPORTS CARS IN U.S.</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Mazda Motor Corp &lt;MAZT.T> has no plans to
produce sports cars in the U.S., A company spokesman said.
    A Japanese daily paper said Mazda would switch production
of its RX-7 sports car, which is popular in the U.S., To the
U.S. Over the next three years to minimise losses caused by the
yen's rise against the dollar.
    Mazda's wholly owned subsidiary &lt;Mazda Motor Manufacturing
(USA) Corp> (MMUC) in Flatrock, Michigan, is due to start
producing Mazda 626 saloon cars from September at an annual
rate of 240,000, the company said on March 2.
    One of Ford Motor Co's &lt;F> Japanese distributors, &lt;Autorama
Inc>, said recently it was considering importing the
MMUC-manufactured cars. The imported cars will all bear Ford
name plates but those sold in the U.S. Will carry Mazda
insignia.
    Ford will take 60 to 70 pct of the cars produced by MMUC
while the rest will be sold through Mazda's own U.S. Sales
network, the spokesman said.
    Mazda Motor Corp is owned 24 pct by Ford.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15247" NEWID="9726">
<DATE>26-MAR-1987 03:05:09.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0127&#31;reute
u f BC-KAWASAKI-TO-INCREASE   03-26 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>KAWASAKI TO INCREASE MOTORCYCLE OUTPUT</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Kawasaki Heavy Industries Ltd &lt;KAWH.T>
will increase output of motorcycles, dune buggies and jet skis
to 380,000 units in the year starting April 1 from 303,000 a
year earlier, a company spokesman said.
    Exports in 1987/88 are forecast to jump to 335,000 from
271,000 a year earlier, while domestic sales will rise to
around 45,000 from 32,000, he told Reuters. Of these, exports
to the U.S. Will rise to 150,000 from 120,000 a year earlier.
    The company also plans to lift motorcycle production at its
wholly owned U.S. Subsidiary &lt;Kawasaki Motor Manufacturing
Corp> to 1985/86 levels of 75,000 from 67,000 in 1986/87.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15248" NEWID="9727">
<DATE>26-MAR-1987 03:11:25.33</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0132&#31;reute
f f BC-BANK-OF-FRANCE-LAUNCH   03-26 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF FRANCE LAUNCHES MONEY MARKET INTERVENTION TENDER - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15249" NEWID="9728">
<DATE>26-MAR-1987 03:17:35.43</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0139&#31;reute
b f BC-HOECHST-AG-&lt;HFAG.F>-Y   03-26 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>HOECHST AG &lt;HFAG.F> YEAR 1986</TITLE>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>Year ended December 31.
    World group pretax profit 3.21 billion marks vs 3.16
billion.
    Turnover 38.01 billion marks vs 42.72 billion.
    World group turnover comprised domestic sales 10.83 billion
vs 10.80 billion, foreign sales 27.18 billion vs 31.92 billion.
    Parent pretax profit 1.82 billion marks vs 1.62 billion.
    Turnover 14.09 billion vs 15.35 billion.
    Parent turnover comprised domestic sales 6.47 billion vs
6.84 billion, foreign sales 7.62 billion vs 8.51 billion.
    Parent investment in fixed assets 960 mln marks vs 831 mln.
    Depreciation of fixed assets 935 mln marks vs 847 mln.
    Investment in new participations 2.53 billion marks vs 294
mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15250" NEWID="9729">
<DATE>26-MAR-1987 03:24:07.53</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0145&#31;reute
u f BC-GERMAN-TRADE,-CURRENT   03-26 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN TRADE, CURRENT ACCOUNT DATA DUE TODAY</TITLE>
<DATELINE>    WIESBADEN, March 26 - </DATELINE><BODY>The Federal Statistics Office will
today publish trade and current account figures for February, a
spokeswoman said in reply to queries.
    In January the current account surplus provisionally
narrowed to 4.9 billion marks from 8.5 billion in December. The
provisional January trade surplus narrowed to 7.2 billion marks
from a record 11.6 billion marks the month before.
    In February 1986 the current account had shown a 6.85
billion mark surplus and the trade account a 6.84 billion
surplus.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15251" NEWID="9730">
<DATE>26-MAR-1987 03:25:20.61</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0146&#31;reute
b f BC-BANK-OF-FRANCE-LAUNCH   03-26 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF FRANCE LAUNCHES MONEY MARKET TENDER</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>The Bank of France said it set a money
market intervention tender today to inject funds to the market
against first category paper.
    Money market sources said the surprise announcement might
herald a quarter percentage point cut in the central bank
intervention rate from the 7-3/4 pct level set March 10, but
they added such a cut was relatively unlikely.
    The intervention rate was cut from eight pct on March 10
after being raised from 7-1/4 pct on January 2 to head off
speculative pressure against the franc.
    Dealers said market fundamentals could justify a further
easing, but a combination of technical factors and renewed
currency uncertainties surrounding the dollar had put
short-term upside pressure on interest rates in recent
sessions.
    Call money rose yesterday to 7-7/8 eight pct from 7-3/4 7/8
pct. Today it was first indicated at 8-1/8 1/4 before easing on
news of the tender to 7-13/16 7/8 pct.
    Technical factors making for a slight shortage of liquidity
in the market included the settlement yesterday of the latest
monthly treasury tap stock tender, on March 5, market sources
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15252" NEWID="9731">
<DATE>26-MAR-1987 03:35:45.41</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0159&#31;reute
f f BC-BP-says-it-will-tende   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BP says it will tender for remaining 45 pct of Standard Oil at 70 dlrs a share cash
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15253" NEWID="9732">
<DATE>26-MAR-1987 03:40:34.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>wang-bingqian</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0165&#31;reute
u f BC-CHINA-PROJECTS-1987-B   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA PROJECTS 1987 BUDGET DEFICIT INCREASE</TITLE>
<DATELINE>    PEKING, March 26 - </DATELINE><BODY>China will have a budget deficit of
8.017 billion yuan in calendar 1987 compared with a 7.08
billion deficit in 1986, Finance Minister Wang Bingqian said.
    He told the National People's Congress, the State Council
has decided to cut nearly all 1987 budgetary expenditures by 10
pct from the 1986 level. He said expenditures for the past two
years have been inflated.
    Investment by localities in capital construction in 1987
must fall by 50 pct from the 1986 level and state firms must
cut their losses by 30 pct, he said.
    China will use 14.6 billion yuan in foreign loans in 1987,
up from 7.87 billion in 1986, Wang said.
    It must cut back on investment in capital construction,
especially construction outside the state plan, he said. Funds
must go into energy, transport, telecommunications, raw and
semi-finished materials and not into non-production sectors.
    "In view of the country's financial difficulties this year,
it has been decided that seven billion yuan of the budgetary
allocation for capital construction will be raised by the
People's Bank through loans and the issuing of bonds," he said.
    Wang said all localities and departments must strictly
confine their 1987 capital investment to the amount set out in
the state budget, a 50 pct reduction from 1986 levels.
    He said that because of financial difficulties, the state
cannot increase spending on culture, education, science and
public health in 1987 at the same rate as over the past few
years. Expenditure in those sectors will rise by two pct.
    The only allocations not to be affected by the general 10
pct cutback are subsidies for price rises, repayment of
principal and interest on domestic and foreign loans, funds for
the disabled and spending for other social relief.
    Wang said state firms must cut their total losses by 30 pct
from the 1986 level, overhead expenses by 10 pct and raw
material consumption by two pct. Commercial firms must cut
their deficits by 20 pct and running costs by two pct.
    He said violations of financial and economic discipline are
common, including tax evasion, false accounting, embezzlement,
theft, extravagance and accepting and offering bribes. Such
practices "have reached very serious proportions in some areas,
departments and units" and must be dealt with seriously, he
said.
    Wang said 11.4 billion yuan worth of foreign loans have
been arranged according to the 1986-90 plan, with 3.2 billion
going to pay for foreign equipment in the Baoshan steel plant
near Shanghai.
    He said China is running no risk in using more foreign
loans, provided it prepares careful feasibility studies,
borrows only what it can repay and uses the loans only to
develop production in priority sectors.
    Wang said China plans to levy new taxes on the use of
arable land for non-farm purposes starting this year. Half the
revenue generated will go to the state and half to localities
to be used in the development of agriculture.
    The only new spending is 11 billion yuan to be used to
cover tax reductions and increased subsidies for big and
medium-size state firms and textile and other light industries.
The money will also pay for increases in the state purchasing
prices of some grain, cotton and oil-yielding crops, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15254" NEWID="9733">
<DATE>26-MAR-1987 03:46:10.54</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F
&#22;&#22;&#1;f0178&#31;reute
b f BC-BP-TO-OFFER-7.4-BILLI   03-26 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>BP TO OFFER 7.4 BILLION DLRS FOR STANDARD SHARES</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>British Petroleum Co Plc &lt;BP.L> said it
intended to make a tender offer for the 45 pct of Standard Oil
Co &lt;SRD.N> it does not already own at 70 dlrs a share cash, for
a total of 7.4 billion if the offer is fully accepted.
    The offer would be made through its &lt;BP North America Inc>
unit and was intended to commence not later than April 1. The
offer would not be conditional on any minimum number of shares
being tendered.
    BP said in a statement the 70 dlr a share price was based
on its own valuation as well as those of its financial
advisers. It took into account reviews of both public and
non-public information.
    Standard closed in New York last night at 64-7/8 dlrs, down
1-3/4 dlrs.
    BP shares dropped on the announcement to 877p from 888p at
last night's close.
    About a third of the cash payable would be met from BP's
own resources.
    The remainder would come from new borrowings, partly from
banks under a four-year committed revolving credit facility and
partly from a a new U.S. Dlr commercial paper programme. The
company said it was in the course of arranging these
facilities.
    BP Chairman Sir Peter Walters said that the group's
investment in Standard was its largest single asset. Full
ownership would enable investment and operating decisions to be
made without the limitations of a minority interest.
    BP also believed the acquisition represented the optimum
use of its financial resources. It was confident oil prices
were likely to remain within a range sufficient to justify the
investment.
    Walters added that it also felt that, due to management
changes in 1986, Standard could now operate successfully even
in a lower oil price environment.
    Standard's net assets at end-1986 were 7.02 billion dlrs
and in the year it reported a loss of 1.08 billion dlrs before
tax and before an extraordinary item of 608 mln dlrs.
    Analysts said that the move by BP had come as a surprise.
One noted that it was not immediately clear why the group
should spend so much money buying a company it already
controlled.
    BP could also have bought up the remainder of Standard
shares considerably cheaper had it moved six months ago.
    It was also unclear what effect the tender would have on
the U.K. Government's recent announcement that it intended to
dispose of its remaining 31.7 pct stake in BP sometime in the
1987/88 financial year, analysts said.
    Analyst Paul Spedding of brokers Kleinwort Grieveson noted
that any effect on the government sale of its stake in BP would
depend on the reaction of the markets.
    The deal would probably push BP's gearing up to around 59
pct from 20 pct currently, he said.
    However, with the likelihood that oil prices would not
repeat last year's rapid drop the prospects for Standard
returning to profitability this year -- and BP benefitting from
its cash flow -- were good.
    Standard was a high cost oil producer, the analysts noted.
    Spedding noted that it needed about 12 dlrs a barrel to
make money, and at about 15 dlrs a barrel revenue from
production and its downstream activities would push it
comfortably into surplus.
    BP initially took a stake in Standard following the
discovery of oil in Alaska's Prudhoe bay in 1969. BP had
inadequate distribution facilities in the U.S. While Standard,
which was strong on marketing and refining, was short on crude
oil.
    The analysts said that BP had promoted a major management
reorganisation of Standard in the past year.
    The probability that much of the shake-up at Standard was
now complete was one possible factor behind the timing of the
tender offer, Spedding said.
    BP's willingness to take hard decisions such as major
balance sheet write offs and the sale of assets had been well
received in the markets.
    The lower costs that should now be possible -- especially
after the rationalisation of the loss making minerals division
-- should allow the benefits of an oil price recovery to come
straight through to 1987 profits without being cut back by
other sectors.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15255" NEWID="9734">
<DATE>26-MAR-1987 03:53:37.61</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0186&#31;reute
u f BC-HOECHST-RAISES-PROFIT   03-26 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>HOECHST RAISES PROFITS ON LOWER SALES</TITLE>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>Hoechst AG &lt;HFAG.F> said in a
statement it increased its pretax profits in 1986 despite a
fall in turnover due to lower foreign sales.
    The lower sales were due to the fall in the dollar and
other currencies against the mark. Other factors were pressure
on selling prices because of a sharp fall in the prices of
crude oil and petrochemical raw materials and the sale of
polystyrene business in the U.S. And Netherlands.
    World group pretax profit rose to 3.21 billion marks in
1986 from 3.16 billion in 1985, with sales falling to 38.01
billion from 42.72 billion.
    Within group turnover, foreign sales fell to 27.18 billion
marks in 1986 from 31.92 billion in 1985, a drop of 14.9 pct.
    The statement made no mention of net profit figures.
Hoechst will announce its dividend proposal on April 23.
    In the first quarter of this year sales were hit by the
cold weather at the start of the year. If the dollar continues
at present low levels, 1987 sales will again be below the
previous year, although in volume terms they are unchanged from
1986, Hoechst said.
    Sales of paints and dyes, fibres, sheeting and information
technology all rose in 1986 but plant construction sales fell.
    Hoechst attributed its good results to the performance of
the parent company, other units in West Germany, and to
&lt;American Hoechst Corp>.
    Improved earnings in the U.S. Largely reflected the
restructuring of styrene and polystyrene activities.
    Roussel Uclaf &lt;RUCF.PA> and most domestic non-consolidated
partners did not perform as well as in 1985.
    Hoechst attributed the 12 pct rise in parent company pretax
profits to 1.82 billion marks above all to a rise in earnings
from interest and holdings in other companies, and a fall in
extraordinary costs.
    The fall in raw material prices was not enough to
compensate for the decline in turnover due to lower prices and
currencies, Hoechst said.
    The bulk of the 2.53 billion marks investment in new
projects, up from 294 mln marks in 1985, went on the capital
increase of Hoechst Capital Corp in connection with the
acquisition of &lt;Celanese Corp>.
    Celanese was merged with American Hoechst in February to
form &lt;Hoechst Celanese Corp>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15256" NEWID="9735">
<DATE>26-MAR-1987 04:06:02.24</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0198&#31;reute
f f BC-Danish-overnight-mone   03-26 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Danish overnight money market rate cut to 10 pct from 10.5 - central bank
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15257" NEWID="9736">
<DATE>26-MAR-1987 04:20:45.09</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;f0209&#31;reute
u f BC-BHP-NET-SEEN-AROUND-6   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>BHP NET SEEN AROUND 600 MLN DLRS FOR NINE MONTHS</TITLE>
<DATELINE>    SYDNEY, March 26 - </DATELINE><BODY>Australia's largest company, The Broken
Hill Pty Co Ltd &lt;BRKN.S> (BHP), is expected to report a net
profit of around 600 mln to 620 mln dlrs tomorrow for the first
nine months ended February 28, share analysts polled by Reuters
said.
    This would be well below the 813.0 mln dlrs earned in the
first three quarters of 1985/86. In the full year ended May 31
1986 the group earned a record 988.2 mln dlrs.
    The analysts estimated that the group would report a third
quarter net in the region of 200 mln to 220 mln dlrs, against
238.6 mln a year earlier and 220.3 mln in the second quarter.
    BHP's earnings in the first half ended November 30 amounted
to 397.0 mln dlrs, sharply down from 589.3 mln a year earlier.
    The analysts predicted that BHP will report an upturn in
petroleum earnings compared with the first quarter, reflecting
some improvement in crude oil prices from the Bass Strait
fields, but these gains would be offset by lower mineral and
steel earnings.
    They said the mineral group has been hit by lower coal
prices and shipments to Japan while the steel division has been
affected by industrial and production problems.
    The analysts noted that the third quarter is normally BHP's
lowest-earning period owing to a number of seasonal factors,
and they predicted a sharp rise in fourth quarter net to around
300 mln dlrs.
    One key factor in the fourth quarter is expected to be a
tax break of some 70 mln dlrs for the investment allowance on
capital expenditure in the steel division, they said.
    They said they saw BHP's full year earnings at around 900
mln to 920 mln dlrs. They added that such a decline from
1985/86 would be no surprise, noting BHP has said that it would
be difficult to equal its record 1985/86 net profit.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15258" NEWID="9737">
<DATE>26-MAR-1987 04:36:14.64</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0229&#31;reute
f f BC-BP-units-seek-five-bi   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> BP units seek five billion dlr revolving credit to support Standard Oil tender
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15259" NEWID="9738">
<DATE>26-MAR-1987 04:49:07.48</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM M C
&#22;&#22;&#1;f0253&#31;reute
u f BC-INDIAN-PLANT-SIGNS-FI   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIAN PLANT SIGNS FIRST ALUMINA EXPORT CONTRACT</TITLE>
<DATELINE>    NEW DELHI, March 25 - </DATELINE><BODY>An unnamed Norwegian firm agreed to
buy 100,000 tonnes of alumina a year from a refinery in eastern
Orissa state due to start operations in the next 12 months, a
Commerce Ministry official told Reuters.
    He said the state-owned National Aluminium Co, which owns
the plant, and the state-owned Mineral and Metals Trading Corp
signed its first long-term export agreement with the company,
but gave no further details.
    Of the plant's 800,000 tonnes annual capacity, 425,000 will
be smelted into 218,000 tonnes of aluminium and the remaining
375,000 will be exported, the official said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15260" NEWID="9739">
<DATE>26-MAR-1987 04:51:39.17</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;f0263&#31;reute
u f BC-FRIED.-KRUPP-GMBH-&lt;KR   03-26 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>FRIED. KRUPP GMBH &lt;KRPG.D> YEAR 1986</TITLE>
<DATELINE>    ESSEN, West Germany, March 26 - </DATELINE><BODY>Provisional world group
1986 third party turnover 15.9 billion marks vs 18.5 billion.
    Third party incoming orders 15.5 billion vs 16.9 billion.
    Orders on hand at end-1986 9.1 billion vs 10.3 billion.
    Workforce at end-1986 68,043 vs 67,402.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15261" NEWID="9740">
<DATE>26-MAR-1987 04:54:44.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0268&#31;reute
b f BC-NORDIC-INVESTMENT-BAN   03-26 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>NORDIC INVESTMENT BANK HAS ZERO COUPON BOND</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The Nordic Investment Bank is issuing a
zero coupon 100 mln Australian dlr bond due April 24, 1992
priced at 53-1/2 pct for an effective yield at launch of 13.33
pct, lead manager Chemical Bank International Ltd said.
    The bond will be available in denominations of 1,000 and
10,000 dlrs and will be listed in Luxembourg.
    Fees comprise 3/4 pct selling concession and 1/2 pct for
management and underwriting.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15262" NEWID="9741">
<DATE>26-MAR-1987 04:55:23.91</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;f0270&#31;reute
b f BC-LUCAS-INDUSTRIES-PLC   03-26 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>LUCAS INDUSTRIES PLC &lt;LUCS.L> HALFYEAR ENDED JAN 31</TITLE>
<DATELINE>    LONDON, March 26 -
    </DATELINE><BODY>Shr 22.9p vs 26.9p.
    Interim div 2.6p vs same.
    Pre-tax profit 40.0 mln stg vs 38.0 mln.
    Net profit before minorities 29.6 mln vs 30.9 mln.
    Turnover 825.0 mln vs 791.6 mln.
    Trading profit 52.8 mln stg vs 52.5 mln.
    Related companies profit 3.1 mln vs 1.4 mln.
    Interest payable 12.3 mln vs 14.6 mln.
    Reorganisation and redundancy costs 3.6 mln vs 1.3 mln.
    Tax 10.4 mln vs 7.1 mln.
    Minorities 1.5 mln vs 2.4 mln.
    Extraordinary charges 1.3 mln vs 34.2 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15263" NEWID="9742">
<DATE>26-MAR-1987 04:56:33.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F
&#22;&#22;&#1;f0275&#31;reute
b f BC-BP-UNITS-SEEK-FIVE-BI   03-26 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>BP UNITS SEEK FIVE BILLION DLR REVOLVING CREDIT</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>BP International and BP North America
are seeking a five billion dlr, four year syndicated credit
facility in support of British Petroleum Co Plc's tender offer
for the 45 pct of Standard Oil Co it does not already own,
Morgan Guaranty Trust Co of New York said as arranger.
    The facility, to be guaranteed by British Petroleum Co Plc
&lt;BP.L> is probably the largest credit facility ever arranged in
Europe, bond analysts said. Full terms will be announced either
later today or tomorrow morning. BP said earlier it planned a
tender offer for the 45 pct of Standard it does not already own
for 70 dlrs a share cash.
    The financing being arranged by Morgan Guaranty will take
the form of a fully committed revolving credit. As announced
earlier, BP also is arranging a U.S. Commercial paper program
in connection with the tender and part of the revolver will be
used to support that program.
    The exact size of the U.S. Program has not been decided and
the dealers have not yet been chosen.
    The credit facility will also allow the borrower to issue
cash advances with maturities of one, three or six months
through a tender panel, which will be comprised of banks
committed to the facility.
    Despite the unprecedented size of this euromarket facility,
Morgan Guaranty said that it was being syndicated only among
BP's relationship banks.
    As a result, banks were being offered lead manager status
at 200 mln dlrs, co-lead management at 125 mln and manager at
75 mln.
    Although pricing on many credit facilities has become
extremely fine in recent years because of the keen competition
to win mandates, Morgan Guaranty said banks would be
compensated fairly since this is a special purpose facility
which must be completed quickly, with signing expected in about
10 days.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15264" NEWID="9743">
<DATE>26-MAR-1987 04:57:50.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0279&#31;reute
u f BC-EUROFIMA-LAUNCHING-40   03-26 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>EUROFIMA LAUNCHING 40 MLN SWISS FRANC NOTES</TITLE>
<DATELINE>    ZURICH, March 26 - </DATELINE><BODY>Eurofima of Basle is launching 40 mln
Swiss francs of six year notes with a 4-3/8 pct coupon and
100.25 issue price, lead manager Zurich Cantonal Bank said.
    Payment is due April 22.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15265" NEWID="9744">
<DATE>26-MAR-1987 04:59:55.11</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0282&#31;reute
u f BC-CLUB-MEDITERRANEE-&lt;CM   03-26 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>CLUB MEDITERRANEE &lt;CMI.PA> - YEAR ENDED OCTOBER 31</TITLE>
<DATELINE>    PARIS, March 26 -
    </DATELINE><BODY>Parent company 1986 net profit 202.55 mln francs vs 171.31
mln
    Dividend 13.02 francs vs same, including 4.34 francs tax
credit.
    (Note -  company earlier reported consolidated net profit
315.9 mln francs vs 302.08 mln and consolidated attributable
profit of 293.3 mln vs 266.6 mln.)
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15266" NEWID="9745">
<DATE>26-MAR-1987 05:07:36.83</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0304&#31;reute
b f BC-U.K.-MONEY-MARKET-LIQ   03-26 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET LIQUIDITY POSITION EXPECTED FLAT</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The Bank of England said it has forecast
a flat position in the money market today.
    Among the main factors, maturing assistance and take-up of
treasury bills will drain 545 mln stg and a rise in note
circulation 35 mln stg but the outflow will be offset by 490
mln stg exchequer transactions and bankers balances above
target 70 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15267" NEWID="9746">
<DATE>26-MAR-1987 05:13:07.48</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0307&#31;reute
u f BC-EC-SUGAR-TENDER-SEEN   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>EC SUGAR TENDER SEEN AS FURTHER CONCESSION</TITLE>
<DATELINE>    BRUSSELS, March 26 - </DATELINE><BODY>The rebates granted at yesterday's EC
sugar tender represent a further concession to producers'
complaints that they are losing money on exports outside the
bloc, trade sources said.
    They said the maximum rebate of 45.678 European currency
Units (Ecus) per 100 kilos was 0.87 Ecus below what producers
claim is needed to obtain the equivalent price to that offered
for sales into intervention.
    The rebate at last week's tender was 1.3 Ecus short of the
level producers thought necessary and that of the previous week
was 2.5 Ecus below this level.
    But the sources said producers who have offered a total of
854,000 tonnes of sugar into intervention in an apparent
attempt to persuade the Commission to set higher maximum
rebates have given no formal indication to the Commission that
they intend to withdraw these offers.
    The French and German operators involved would be able to
withdraw the offers up to five weeks after April 1 when the
sugar will officially enter intervention stores.
    The five-week period is the normal delay between sugar
going into intervention and payment being made for it.
    EC officials have said that if the Commission has to buy
the sugar, it is determined immediately to resell it, a move
which could drive down market prices further.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15268" NEWID="9747">
<DATE>26-MAR-1987 05:18:16.50</DATE>
<TOPICS><D>bop</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0319&#31;reute
f f BC-******   03-26 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> German Feb current account surplus 6.6 billion marks (Jan surplus 4.8 billion) - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15269" NEWID="9748">
<DATE>26-MAR-1987 05:18:54.20</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0321&#31;reute
f f BC-******   03-26 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> German February trade surplus 10.4 billion marks (Jan surplus 7.2 billion) - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15281" NEWID="9749">
<DATE>26-MAR-1987 05:24:07.86</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0332&#31;reute
b f BC-GERMAN-CURRENT-ACCOUN   03-26 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN CURRENT ACCOUNT SURPLUS WIDENS IN FEBRUARY</TITLE>
<DATELINE>     WIESBADEN, March 26 - </DATELINE><BODY>West Germany's current account
surplus widened to a provisional 6.6 billion marks in February
from a slightly downwards revised 4.8 billion in January, a
spokeswoman for the Federal Statistics Office said.
    The trade surplus in February widened to a provisional 10.4
billion marks from 7.2 billion in January, she added.
    The Statistics Office had originally put the January
current account surplus at 4.9 billion marks.
    The February trade surplus was well up on the 6.84 billion
mark surplus posted in the same month of 1986. But the current
account surplus was down slightly from the 6.85 billion surplus
recorded in February 1986.
    A Statistics Office statement said the widening of the
February current account surplus compared with January was due
to seasonal factors. Neither the trade nor current account
figures are seasonally adjusted.
    February imports, measured in terms of value, totalled
32.11 billion marks, a decline of 10 pct against February 1986
but a rise of 5.5 pct against January.
    Exports in February, also in value terms, totalled 42.56
billion marks, 0.5 pct less than in February 1986 but up 13 pct
compared with January.
    The Statistics Office said it was not yet able to calculate
the real change in exports and imports in February. But for
comparison purposes it noted that in January the average value
of imports had fallen 15 pct year-on-year while the average
value of exports had declined by only 4.4 pct.
    Within the current account, the services account had 300
mln marks deficit, supplementary trade items a 200 mln mark
surplus while transfer payments posted a 3.7 billion mark
deficit.
    Taking the first two months of 1987 together, imports in
value terms fell 14 pct to 62.6 billion marks compared with a
year earlier. The value of exports totalled 80.2 billion marks,
a decline of 7.4 pct against the same months of 1986.
    The resulting trade surplus of 17.6 billion marks for
January/February compares with a cumulative surplus of 14.1
billion marks in the year-ago period.
    The cumulative current account surplus for January and
February 1987 totalled 11.3 billion marks against 11.4 billion
marks a year earlier, the Statistics Office said.
    Bank economists said the rise in the February trade surplus
reflected an improvement in the terms of trade as well as
seasonal factors. The Federal Statistics Office said earlier
this week that February import prices fell 0.7 pct against
January while export prices were unchanged.
    "The rise in the nominal figures masks a lower export trend
that is not expected to change for several months at least,"
said an economist. He said the nominal trade surplus for 1987
as a whole is likely to fall only slightly from the record
112.2 billion marks in 1986 but other economists said the
surplus could fall to around 80 billion marks.
    An economist at the Bank fuer Gemeinwirtschaft (BfG) in
Frankfurt said a two-month comparison of trade figures gave a
more accurate picture of West Germany's trade position.
    He noted the 17.6 billion mark surplus for January and
February together was lower than the 21.6 billion mark surplus
posted in November and December.
    "The trend is clearly lower," he said.
    This economist, who declined to be named, said the February
rise was also partly explained by special factors in January,
when there had been a number of public holidays as well as
extremely cold weather, both of which hindered trade.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15270" NEWID="9750">
<DATE>26-MAR-1987 05:24:48.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0333&#31;reute
b f BC-MONTREAL-TRUSTCO-ISSU   03-26 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>MONTREAL TRUSTCO ISSUES CANADIAN DOLLAR EUROBOND</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>Montreal Trustco Inc is issuing a 100 mln
Canadian dlr, 8-1/2 pct bond due May 6, 1992 at 101 pct, lead
manager Societe Generale said.
    The non-callable issue is of unsecured, unsubordinated
debt. Denominations are of 1,000 and 10,000 Canadian dlrs and
listing is in Luxembourg. Payment date is May 5.
    Fees are 1-1/4 pct for selling, 3/8 pct for underwriting
and 1/4 pct for management including a 1/8 pct praecipuum.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15271" NEWID="9751">
<DATE>26-MAR-1987 05:25:24.20</DATE>
<TOPICS><D>jobs</D><D>trade</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>keating</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0337&#31;reute
u f BC-KEATING-REVISES-DOWN   03-26 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>KEATING REVISES DOWN AUSTRALIAN GROWTH FORECAST</TITLE>
<DATELINE>    CANBERRA, March 26 - </DATELINE><BODY>Treasurer Paul Keating forecast
economic growth at slightly under two pct in the financial year
ending June this year, down from the 2.25 pct forecast
contained in the 1986/87 budget delivered last August.
    Australia's terms of trade also fell, by 18 pct, over the
past two years, he told Parliament. Terms of trade are the
difference between import and export price indexes.
    Despite the figures, the budget forecast of about 1.75 pct
annual growth in employment would be met, Keating said.
    Unemployment is currently at 8.2 pct of the workforce.
    "This government is dragging Australia through a trading
holocaust the kind of which we have not seen since the Second
World War," Keating said.
    "We are not pushing this place into a recession. We are not
only holding our gains on unemployment, we are bringing
unemployment down," he said, adding that the government had help
the country avoid recession.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15272" NEWID="9752">
<DATE>26-MAR-1987 05:29:07.05</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0342&#31;reute
u f BC-TAIWAN'S-SAVINGS-AT-R   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN'S SAVINGS AT RECORD HIGH</TITLE>
<DATELINE>    TAIPEI, March 26 - </DATELINE><BODY>Taiwan has over one trillion Taiwan dlrs
in savings, official statistics show.
    Figures released yesterday show all forms of savings by
individuals and public and private firms, including bank
deposits, certificates of deposits and bond's, are running at
about 37 pct of gross national product (GNP).
    GNP rose by 14.35 pct in 1986 to 2.74 trillion dlrs.
    Taiwan's strict foreign exchange controls and lack of
incentives to invest abroad mean its huge export earnings are
mainly deposited in bank savings accounts, earning below four
pct interest each year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15273" NEWID="9753">
<DATE>26-MAR-1987 05:31:26.88</DATE>
<TOPICS><D>saudriyal</D><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0343&#31;reute
u f BC-SHORT-DATED-SAUDI-RIY   03-26 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>SHORT-DATED SAUDI RIYAL RATES FIRM IN QUIET MARKET</TITLE>
<DATELINE>    BAHRAIN, March 26 - </DATELINE><BODY>Short-dated Saudi riyal interest rates
firmed but other rates were steady in quiet trading, dealers
said.
    "Day-to-day money is a bit tighter," one trader said.
    Overnight rose two points to six pct, while most quotes for
tomorrow/next and spot/next were 1/2 point higher at around
six, 5-1/2 pct.
    The periods were essentially steady at 5-7/8, 5/8 pct for
one month, 6-1/2, 3/8 pct for three, and 6-7/8, 11/16 for six
months.
    The spot riyal stood at 3.7500/05 to the dollar after
3.7506/09 yesterday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15274" NEWID="9754">
<DATE>26-MAR-1987 05:32:33.87</DATE>
<TOPICS><D>livestock</D><D>carcass</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f0345&#31;reute
u f BC-JAPAN-BEEF-PRICE-SUPP   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BEEF PRICE SUPPORT CUT WILL NOT RAISE DEMAND</TITLE>
<AUTHOR>    By Fumiko Fujisaki, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Japan's plan to cut beef intervention
prices for the fiscal year starting April 1 will not boost
demand because of strict supply controls and a complex
distribution system, Japanese and U.S. Industry sources said.
    "Government beef policy protects farmers rather than meeting
consumers' demands and the cutback ... Is too marginal," a
Housewives Association of Japan official said.
    Despite mounting U.S. Pressure on Japan to open farm
markets, beef is strictly controlled by the government, which
maintains a price stabilisation zone to protect farmers.
    Under the plan, expected to be announced this month, the
standard or bottom price of castrated wagyu -- known as marbled
beef -- will be set at 1,370 yen per kilo for 1987/88 against
1,400 now, and the ceiling at 1,780 yen against 1,820.
    The standard price of other beef, mainly produced from
dairy steers, is set at 1,020 yen against 1,090 and the ceiling
at 1,325 against 1,420.
    Ministry officials said the semi-government Livestock
Industry Promotion Corp (LIPC) conducts buffer stock operations
to help keep wholesale beef prices within the intervention
price zone.
    The LIPC is allowed to import most beef, with the amount
set by the government under a quota system. When wholesale
prices go above the ceiling, the LIPC releases its beef stocks,
both domestic and imported, and buys locally produced beef when
prices are below.
    But the LIPC has often been criticised for releasing beef
stocks when the prices are higher than the ceiling.
    Phillip Seng, Asian Director of the U.S. Meat Export
Federation, told Reuters the two pct cut in prices is a step
toward closing the gap with European Community prices, about
half those in Japan.
    But Seng said the cut will not benefit consumers or U.S.
Meat exporters because of Japan's rigid and complicated
distribution system and strict supply control by the LIPC.
    The Housewives Association official said retail beef prices
are high mainly because of distribution problems and high
production costs, as well as poor operations by the LIPC.
    American meat packers see Japan as a promising market. F.C.
Beatty, of U.S. Packer John Morrell and Co, told the Japan
Times beef cuts, which sell for 1.20 to 3.00 dlrs a pound in
the U.S., Are sold at 15 to 30 dlrs in Japan.
    But Seng said the cut will not benefit consumers or U.S.
Meat exporters because of Japan's rigid and complicated
distribution system and strict supply control by the LIPC.
    The Housewives Association official said retail beef prices
are high mainly because of distribution problems and high
production costs, as well as poor operations by the LIPC.
    American meat packers see Japan as a promising market. F.C.
Beatty, of U.S. Packer John Morrell and Co, told the Japan
Times beef cuts, which sell for 1.20 to 3.00 dlrs a pound in
the U.S., Are sold at 15 to 30 dlrs in Japan.
    But industry sources said it is unclear how much demand
will pick up if retail beef prices drop following any sharp
reduction in intervention prices.
    U.S. Agriculture Secretary Richard Lyng said this week he
will ask Japan to remove all beef import restrictions when he
visits here next month.
    In 1984, Japan decided to increase its beef import quota by
9,000 tonnes a year until March 31, 1988.
    In 1987/88, the quota will rise to 177,000 tonnes from
168,000 in 1986/87, ministry officials said, adding Japan wants
to keep self-sufficiency in beef at around 70 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15275" NEWID="9755">
<DATE>26-MAR-1987 05:33:33.89</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0350&#31;reute
u f BC-FOREIGN-FIRMS-HOPE-TO   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN FIRMS HOPE TO JOIN JAPAN TELECOM COMPANY</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>One of two rival firms seeking to enter
Japan's international telecommunications market said it will
offer a stake in the company to 10 foreign firms.
    President of &lt;International Telecom Japan Inc> (ITJ), Nobuo
Ito, decline to specify what share the firms would take, but
told Reuters they would not participate in its management.
    ITJ and &lt;International Digital Communications Planning Inc>
(IDC), in which both Cable and Wireless Plc &lt;CAWL.L> and
Pacific Telesis Group &lt;PAC.N> own 20 pct stakes, are set to
merge into a new entity to compete against &lt;Kokusai Denshin
Denwa Co Ltd> (KDD).
    The Ministry of Posts and Telecommunications has urged the
two rival firms to merge so KDD would have only a single
competitor. The ministry has also rejected foreign management.
    Japan's law limits foreign ownership of any new
international telecommunications entrant to 33 pct, so C and
W's and Pacific's stakes could be three pct in the merged firm,
sources said. Those seeking to join are General Electric Co
&lt;GE.N>, Ford Motor Co &lt;F.N>, &lt;Citibank NA>, BankAmerica Corp
&lt;BAC.NYSE>, &lt;Shearson Lehman Bros Inc>, &lt;Saloman Brothers>,
&lt;Asia Boeing Computer Service>, Unisys Corp &lt;UIS.N>, &lt;Societe
Generale> and Deutsche Bank AG &lt;DBKG.FRA>.
    The merger plan has been criticised for excluding foreign
firms from a meaningful position in the market.
    The U.K.'s Prime Minister Margaret Thatcher, U.S. Secretary
of State George Shultz, U.S. Commerce Secretary Malcolm
Baldrige and U.S. Trade Representative Clayton Yeutter have all
expressed such opposition.
    Japanese Prime Minister Yasuhiro Nakasone will draft a
reply to the criticism following further discussion, a Posts
and Ministry official said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15276" NEWID="9756">
<DATE>26-MAR-1987 05:37:51.56</DATE>
<TOPICS><D>veg-oil</D><D>meal-feed</D><D>oilseed</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0364&#31;reute
r f BC-U.K.-OILMEAL/VEG-OIL   03-26 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. OILMEAL/VEG OIL PRODUCTION ROSE IN 1986</TITLE>
<DATELINE>    LONDON, March 26 -  </DATELINE><BODY>The U.K. Produced 820,400 tonnes of
oilcake and meal and 431,000 tonnes of crude vegetable oil in
calendar 1986, Ministry of Agriculture figures show.
    They compare with 785,800 tonnes of oilcake and meal and
407,400 tonnes of crude vegetable oil produced in 1985.
    Total oilseeds crushed rose to 1.27 mln tonnes from 1.21
mln in 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15277" NEWID="9757">
<DATE>26-MAR-1987 05:38:40.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0369&#31;reute
u f BC-BNP-PLANS-100-MLN-H.K   03-26 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BNP PLANS 100 MLN H.K. DLR CD ISSUE</TITLE>
<DATELINE>    HONG KONG, March 26 - </DATELINE><BODY>Banque Nationale de Paris Hong Kong
branch is planning a 100 mln H.K. Dlr certificate of deposit
issue with BT Asia Ltd as lead manager, banking sources said.
    They said this is the first capped FRCD issue in Hong Kong.
It is in two equal tranches. Tranche A, which matures January
9, 1993, is payable April 9 this year. Tranche B, which matures
September 15, 1992, is payable April 15.
    Interest on both tranches is 1/8 percentage point over
three months Hong Kong interbank offered rate, subject to a
14-3/8 pct ceiling. Management fee is 25 basis points. The CDs
will be issued at par in denominations of 100,000 dlrs each.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15278" NEWID="9758">
<DATE>26-MAR-1987 05:39:20.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0371&#31;reute
u f BC-PHILIPPINES-TO-PUT-10   03-26 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINES TO PUT 100 STATE FIRMS UP FOR SALE</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    MANILA, March 26 - </DATELINE><BODY>The head of a Philippine panel charged
with selling the non-performing assets of government financial
institutions said some 100 state-owned companies would also be
put up for privatisation.
    But David SyCip, chief executive trustee of the Asset
Privatisation Trust (APT), told a meeting of financial
executives the APT has not yet received a list of the firms.
    "I believe lead investor groups, people who see long-term
potential, are willing to buy such companies in full and do a
hands-on job of running them," SyCip said.
    SyCip said open bidding would be used to sell all assets
handled by the APT. He said bidding would be either
open-priced, if there were enough serious contenders, or the
APT would set a target price for acquisition. He added that the
target price did not constitute a rigid floor.
    "What we consider an acceptable price is a price at which an
investor will earn an adequate return," he said.
    SyCip said the bulk of the APT's current work relates to
the non-performing assets of the state-owned Development Bank
of the Philippines (DBP) and the Philippine National Bank
(PNB). The APT was set up in January.
    SyCip said about 75 pct of the 400-odd assets that the DBP
and the PNB are handing over to the APT are still in the form
of financial assets.
    "In some cases financial assets have been converted into
physical assets by foreclosures. They are fairly cut and dried
because we are dealing with mostly whole production facilities
like textile or food-processing plants," he said.
    "Financial assets are more complicated. The only recourse is
to foreclose, gain titles, and try to sell the asset, but the
laws here tend to favour the debtors," he added.
    SyCip said although the APT is protected from prosecution
by its charter, many debtors are tying up the panel with
litigation.
    "If you see some of the situations we have to work our way
through you will see that our symbol, a Gordian knot, is an apt
illustration," he said.
    SyCip said the PNB has not succeeded in foreclosing on 16
of the 17 sugar factories it wants to sell because of the high
costs involved. "When you do your arithmetic you realise that if
you did foreclose your recovery would be only a fraction of the
asset's book exposure," he said.
    SyCip said the APT was not worried about whether associates
of former President Ferdinand Marcos, who originally owned many
of the bankrupt companies, would buy them back through the
privatisation scheme.
    "We just look at the bottom line, which is to monetise these
assets to the maximum degree possible," he said. "We are selling
for cash, it is not our concern where it comes from."
    He said he had told cabinet ministers sceptical about the
identities of buyers that "Marcos cronies" could easily put up
legitimate fronts if they were specifically barred from bidding
for assets on the block.
    "I told them if I am paid 20 mln pesos in 100-peso bills,
all with identical serial numbers and they look like genuine
legal currency, then I would accept them'," SyCip said.
    He said some participants in the government's debt-equity
swap scheme were interested in buying non-performing assets
with the pesos they receive from such deals. The problem is
government regulations slow down approval of debt-equity plans
and the APT normally demands full payment within 15 days.
    "The Central Bank and Monetary Board could also look at
investment funds earmarked for non-performing asset purchases,"
he said. "It would greatly facilitate matters."
    SyCip said last month the APT hoped to recover about 24
billion pesos of the assets' total worth of 108 billion.
    President Corazon Aquino announced earlier this month that
proceeds from the sale of APT-controlled assets would be used
to finance the government's land reform program, which aims to
distribute about 9.7 mln hectares of land to poor peasants.
    Asked why the APT did not favour Filipino buyers, SyCip
said: "How much money has the country to lose because of this
'Filipinos first' slogan? How many people have become
millionaires and then forgotten the Philippines and put their
money in the United States or Australia?"
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15279" NEWID="9759">
<DATE>26-MAR-1987 05:42:03.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0380&#31;reute
u f BC-SINGAPORE-LAWS-TO-LIB   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE LAWS TO LIBERALISE LOCAL CAPITAL MARKET</TITLE>
<AUTHOR>    By Lai Kwok Kin, Reuters</AUTHOR>
<DATELINE>    SINGAPORE, March 26 - </DATELINE><BODY>Parliament passed laws increasing the
amounts and frequency of treasury bill issues and allowing the
government to raise up to 35 billion dlrs through issues of
registered stock, bearer bonds and book-entry securities.
    Both steps are aimed at establishing a wider domestic
capital market as part of Singapore's plans to expand its
financial sector, Finance Minister Richard Hu said.
    Banking sources said the new government securities market,
scheduled to have been launched on March 2, had been delayed
pending legislative approval of these bills.
    The 35 billion dlrs maximum which may be raised under the
Development Loan Bill (1987), against a ceiling of 15 billion
under current laws, is expected to satisfy demand for
government securities over the next four years, Hu said.
    He said 6.1 billion dlrs of the 15 billion has so far been
raised as development loans. The rest will be used up when
bonds are issued to absorb advance deposits of 13.9 billion
dlrs from the Central Provident Fund (CPF), a mandatory pension
savings scheme. Workers and employers contribute a respective
25 pct and 10 pct of a worker's salary to the CPF, which had
funds totalling 29.3 billion at end-1986.
    Regular government securities issues are needed to meet the
demand of banks, insurance companies, other financial
institutions and corporate and individual investors, Hu said.
    The Monetary Authority of Singapore (MAS) had said it
planned to launch trading by issuing taxable instruments
grossing seven billion dlrs in the first year and a gross 38
billion dlrs of paper over the next five years.
    Funds raised in excess of the government's budgetary needs
will not be channelled into increased spending, but will be
recycled back to the financial system, largely through the MAS,
Hu said.
    Hu said the current government securities market is
rudimentary, with the CPF holding three-quarters of the
outstanding debt and banks, discount houses and insurance
companies holding the rest. "The concentration of securities in
the hands of such long-term holders has left little scope for
trading activity," he said.
    "Moreover, the maturity of the bonds, mostly 20 years, was
not attractive to other investors who might have been expected
to deal more actively in the market. The infrequency of bond
issues exacerbated the lack of liquidity necessary for the
development of a market," Hu said.
    Hu said these obstacles have been resolved and regular
issues of government securities will be made, initially
carrying terms of up to five years and market-related yields.
    The minimum denomination is 1,000 dlrs for notes and bonds
-- aimed at individual investors -- and 10,000 dlrs for the
treasury bills, which are directed at corporate investors.
    Eight primary and registered dealers have undertaken to
make markets in order to ensure liquidity, he said.
    Hu said while the new government securities market will be
essentially domestic, non-residents are free to invest, but
interest earned will be subject to withholding tax.
    Hu said under the new Treasury Bills (Amendment) Bill, all
book entries of borrowings through treasury bill issues must be
made in records maintained by MAS.
    Hu said that instead of physical certificates having to
travel back and forth at each transaction, with side trips to
the MAS for registration, the MAS will maintain a computerised
system for updating records in a central register.
    Commercial banks and primary and registered government
securities dealers will each have two securities accounts with
the MAS, one for their own holdings and the other for holdings
on behalf of all their customers, Hu said.
    All trades will be reflected daily in changes in these
accounts, Hu said.
    "These institutions will in turn act as custodians of
government securities for their customers, rendering each an
individual accounting of his holdings."
    Hu said the new system will cut storage and handling costs
and paper work, reduce the danger of loss, theft, destruction
and counterfeiting, and permit greater speed and efficiency in
handling large volumes of transactions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15280" NEWID="9760">
<DATE>26-MAR-1987 05:42:55.79</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0385&#31;reute
u f BC-SIEMENS-SEES-SALES-NE   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>SIEMENS SEES SALES NEAR 52 BILLION MARKS THIS YEAR</TITLE>
<DATELINE>    MUNICH, March 26 - </DATELINE><BODY>World group turnover of Siemens AG
&lt;SIEG.F> should rise to 51 or 52 billion marks in the current
year to September 31 after a 19 pct upturn in the first five
months, management board chairman Karlheinz Kaske said.
    Siemens reported world group turnover in 1985/86 of 47.02
billion marks.
    Kaske told the annual shareholders meeting turnover rose to
21.2 billion marks in the first five months of 1986/87, about
19 pct above the same year-ago period. The rise was mainly due
to payment in January for a West German nuclear power station
which led to a jump in domestic sales of 36 pct.
    In the first five 1986/87 months, turnover abroad showed a
three pct increase, Kaske said, without giving figures.
    In the same period incoming orders rose five pct to 21.8
billion marks against the same 1985/86 period.
    For the year as a whole incoming orders should rise between
one and two billion marks to around 51 or 52 billion.
    Apart from payments for the nuclear power station, the
communications and telecommunications sectors in particular
should contribute to growth this year, Kaske said.
    But it was not possible to make a profit forecast for
1986/87 because of uncertainty about the direction of the
dollar, Kaske said.
    Siemens already reported that first quarter 1986/87 group
net profit fell marginally to 296 mln marks from 298 mln in the
same period in the previous year.
    Turnover in the first five months rose particularly
strongly in the installations and automotive technology,
communications and telecommunications sectors, but components
and energy and automation showed a sharp decline.
    Kaske said domestic orders rose to 10.2 billion marks in
the first five months of this year, or nine pct above their
level in the same 1985/86 period, boosted in particular by
orders for the fully owned Kraftwerk Union AG subsidiary.
    Foreign orders grew one pct to 11.6 billion marks. An
increase in orders through newly acquired subsidiaries abroad
was balanced by the decline in the dollar.
    While the installations and automotive technology sector
showed a sharp rise in orders, energy and automation and
communications orders were below the level achieved in the same
period of 1985/86.
    Telecommunications orders remained at roughly the same
level.
    Kaske said investments were expected to remain around six
billion marks in 1986/87 after a 50 pct increase the previous
year. Research and development were likely to rise 13 pct to
6.1 billion marks or around 12 pct of turnover.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15282" NEWID="9761">
<DATE>26-MAR-1987 06:02:24.73</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0416&#31;reute
r f BC-KRUPP-HAS-SATISFACTOR   03-26 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>KRUPP HAS SATISFACTORY 1986 RESULTS</TITLE>
<DATELINE>    ESSEN, West Germany, March 26 - </DATELINE><BODY>The Fried. Krupp GmbH
&lt;KRPG.D> steel and engineering group said it had a satisfactory
1986 despite a provisional 12 pct fall in total group sales to
18.1 billion marks from 20.7 billion the previous year.
    Third party turnover declined to 15.9 billion from 18.5
billion in 1985 while orders slipped to 15.5 billion marks from
16.9 billion, it said in a preliminary statement.
    Despite these figures, which reflected the dollar's
weakness against the mark and oil and raw materials price
falls, it said 1986 was a satisfactory year.
    The reason was the continued expansion of the machinery and
plant sector, which accounted for 42 pct of total sales.
    Krupp added that some areas of the mechanical engineering
business achieved notable growth rates and acquisitions had
underpinned machinery and component activities.
    An orders decline in the steel and, in particular, the
trading and services sectors, affected the group's total order
figures.
    However, "all business sectors contributed to the positive
results achieved in 1986," Krupp added, without giving details.
    Domestic orders decreased by five pct to 9.6 billion marks
from the previous year and foreign orders fell 14 pct to 5.9
billion, it said. Foreign business accounted for 38 pct of
orders against 40 pct in 1985.
    Orders received by the machinery and plant sector, 11
member companies which comprise the core area of the group,
rose by four mln marks last year to 6.9 billion, Krupp said.
    The group's orders in hand amounted to 9.1 billion marks at
end-December 1986 from 10.3 billion at the start of the year.
    Orders received by the steel sector last year decreased by
three pct to 6.2 billion marks from 1985, it said.
    The steel market weakened increasingly over the year,
mainly because of exchange rate movements, the deterioration in
foreign trade and a downturn in a number of customer
industries.
    The difficult market for sections and flats of quality
steel depressed order tonnages by around seven pct, Krupp said.
But special steel boosted by strong demand for stainless
cold-rolled flats, grew by five pct in tonnage terms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15283" NEWID="9762">
<DATE>26-MAR-1987 06:12:12.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0429&#31;reute
u f BC-JAPANESE-SCIENTISTS-D   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE SCIENTISTS DEVELOP AIDS DETECTION MATERIAL</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Japanese scientists say they have
developed a material which can help detect the killer disease
Aquired Immune Deficiency Syndrome (AIDS).
    Leading Japanese AIDS scientist professor Naoki Yamamoto
told Reuters he and other scientists working at Yamaguchi
University in southern Japan have been testing the material's
ability to filter the AIDS virus from blood since last April
and produced successful results.
    He said the material, a tube made from a cellulose
membrane, could only be used to diagnose AIDS sufferers and not
cure them.
    The share price of Asahi Chemical Company&lt;ASAT.T>, which
plans to market the product in about a year's time, rose
sharply but ended the day only 27 yen higher at 905 yen a
share.
    The cellulose tubes, which Asahi will market under the name
Bemberg Microporous Membrane (BMM), can also separate the virus
of the kidney ailment hepatitis and may be applied to
diagnosing polio sufferers, vice-president of Asahi Chemical,
R. Yumikura said. Ashai will supply BMM for research purposes
soon.
    Shares of companies even remotely related to the fight
against AIDS have risen on the Tokyo stock market since the
first Japanese woman died of the disease in Kobe in January.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15284" NEWID="9763">
<DATE>26-MAR-1987 06:14:42.35</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0437&#31;reute
r f BC-NO-PESSIMISM-FOR-GERM   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>NO PESSIMISM FOR GERMAN EXPORTERS, MINISTRY</TITLE>
<DATELINE>    BONN, March 26 - </DATELINE><BODY>Firms need not be pessimistic about export
prospects even though foreign markets have become more
difficult because of the mark's strength the Economics Ministry
said.
     The ministry's parliamentary state secretary Ludolf Georg
von Wartenberg, told a business conference German exports could
start rising again in real terms during 1987, reversing the
lower export trend which emerged in mid-1986.
    But even if the turnaround did not occur, there would be no
need to worry about the economy as long as the weakness of
exports did not affect currently good domestic demand.
    Von Wartenberg said consumer demand remained quite good but
noted there had been a cooling in the investment climate. "This
is certainly a reason for heightened watchfulness but not for
stimulative steps," he said.
    The best way for Bonn to help its exporters is to work
actively to promote free world trade, he added.
    Von Wartenberg said the economy still had good export
opportunities. Price alone was not the only factor in
international competitiveness, he said, adding German firms
have a reputation for high quality standards, prompt delivery
times and good service.
    Von Wartenberg said the government was in a difficult
position on its trade figures.  It faced international pressure
to reduce its trade surplus, but West Germans were worried
about the effect of the mark's strength on the country's
exporters.
    Reports about the trade surplus, especially overseas,
tended to concentrate on nominal trade figures, which rose to a
record 112.2 billion marks in 1986, he said. But this rise was
due entirely to the lower value of imports caused by the
decline of both the dollar and oil prices. German exports have
in fact been falling in real terms for sometime, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15285" NEWID="9764">
<DATE>26-MAR-1987 06:26:15.94</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>usa</D><D>uk</D><D>west-germany</D><D>france</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0450&#31;reute
u f BC-MONETARY-AUTHORITIES   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>MONETARY AUTHORITIES SAID TO LOSE CREDIBILITY</TITLE>
<AUTHOR>    By Etsuko Yamamoto, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>The monetary authorities of the major
industrialised countries lost their credibility this week as
the dollar was sold off despite pleas from ministers and
widespread central bank intervention, dealers said.
    The dollar's fall below 150 yen, which follows last month's
Paris currency stabilisation agreement by the U.S., Japan, West
Germany, Britain, France and Canada, is a dramatic reversal of
the success of the Group of Five (G-5) 1985 New York Plaza
meeting to weaken the dollar, they said.
    The G-5 and the market agreed in 1985 that the dollar was
overvalued but this time the market and the authorities are on
different sides, dealers said.
    Apparent confusion in the ranks of the G-5 nations has
encouraged the market to challenge the authorities despite
concerted intervention by the central banks of the United
States, Japan, Britain and West Germany, they said.
    Pleas by Japanese Finance Minister Kiichi Miyazawa for
action to stabilise the dollar were matched over the weekend by
comments by U.S. Treasury Secretary James Baker that there was
no target zone for the dollar. The dollar was sold anyway.
    Yesterday's comment by Baker that he stood by the Paris
accord did nothing to reverse sentiment, dealers said.
    The intervention, backed by remarks by Fed Chairman Paul
Volcker and Japanese central bank governor Satoshi Sumita,
which a few months ago would have brought the dollar fall to a
halt, has done little but slow the rate of its decline, they
noted.
    The situation has again raised the question of whether
intervention can succeed against the trend in today's huge
currency markets. Dealers said the market's cool response to
intervention reflected a basic oversupply of dollars.
    "This means that the current dollar selling is not of a
sheer speculative nature but backed by real demand," said Koichi
Miyazaki, deputy general manager at Sanwa Bank.
    Dealers said the dollar will remain weak despite the
intervention and it is only a matter of time before some
operators try to push it below 148 yen. The dollar closed in
Tokyo today at 149.40 against New York's 149.30/40. Its record
low was 148.40 in Tokyo last Tuesday.
    Dealers said the dollar will gain only temporary support to
rise above 150 yen toward early April when the Group of Seven
industrial nations meets to discuss currencies again.
    The market expects the seven nations (the Paris six plus
Italy) to try to agree on another way to stabilise currencies
apart from intervention, a chief dealer at a U.S. Bank said.
    Dealers said they were unsure what other methods could be
used and they are sceptical anyway about how long the Paris
accord nations, particulary the U.S., Will remain willing to
prevent a further dollar fall given the continuing high U.S.
Trade deficit, especially with Japan.
    Further pressure from a protectionist U.S. Congress for a
lower dollar is also limiting Washington's options, they said.
    The market now thinks the central bank action is to slow
the dollar fall, not to push it back over 150 yen, said
Tadahiko Nashimoto, manager at Long Term Credit Bank of Japan.
    Another bearish factor for the dollar is expected large
forward dollar sales from April to June for export bills
falling due for Japanese exporters from April to September.
    The exporters had delayed in expectation of a further yen
depreciation, dealers said.
    Yesterday's request to 30 trading houses by the Ministry of
International Trade and Industry to restrict dollar sales looks
ineffective in light of this real demand, they said.
    The market is also anticipating active institutional dollar
sales to hedge currency risks on bond holdings from the new
business year starting April 1, dealers said.
    "The market seems to have established a new dollar trading
range between 147 and 149 yen," one dealer said.
    The dollar traded between 151 and 153 yen after the Paris
accord on February 22 and 150 yen was then considered the low
end for the dollar against the yen, he said.
    Some dealers now believe that if the dollar falls below 148
yen, it will pick up renewed downward momentum and slide to
145.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15286" NEWID="9765">
<DATE>26-MAR-1987 06:32:20.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>austria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0462&#31;reute
b f BC-AUSTRIA-MAKES-TWO-BIL   03-26 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRIA MAKES TWO BILLION SCHILLING NOTE ISSUE</TITLE>
<DATELINE>    VIENNA, March 26 - </DATELINE><BODY>Austria is making a two billion
schilling issue of floating rate treasury notes carrying
interest of 1/8th of a point over the three-month Vienna
Interbank Offered Rate (VIBOR), lead manager Oesterreichische
Laenderbank AG [OLBV.VI] said.
    The issue, to be made at par, carries a placing fee of 20
basis points and will be listed in Vienna, a Laenderbank
official told Reuters.
    The issue will have an initial three-year life and the
issuer has the right to make two three-year extensions and a
further one-year extension to 1997.
    Payment and closing date is April 23 and redemption will be
on the same date at the end of each of the periods.
    The notes, in one mln schilling denominations, may not be
offered in Austria, Britain or the United States.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15287" NEWID="9766">
<DATE>26-MAR-1987 06:33:20.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0465&#31;reute
u f BC-FRANCE'S-CAECL-ISSUES   03-26 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE'S CAECL ISSUES THREE BILLION FRANC BOND</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>Caisse d'Aide a l'Equipement des
Collectivites Locales (CAECL) is issuing a three billion franc
two-tranche domestic bond, the lead managers said.
    The first two billion franc tranche at a fixed rate of 8.90
pct is led by Credit Lyonnais, Banque Indosuez and Union de
Garantie et de Placement, with Credit Lyonnais as book-runner.
    The non-callable, 13 year and 80 days bond is issued at
100.419 pct. Payment date is May 28 with the first coupon
payment in 1988.
    The second one billion franc, variable-rate tranche is led
by Banque Indosuez, Credit Lyonnais and UGP, with Indosuez as
book-runner.
    The 12 year 94 day bond is issued at 98.672 pct. Interest
is based on average state bond yields (TME), with a margin of
less 0.24 pct on the basis of TME at 8.45 pct. Payment date
will be May 28 with the first coupon payment in 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15288" NEWID="9767">
<DATE>26-MAR-1987 06:33:49.73</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0467&#31;reute
f f BC-UK-FEB-TRADE-DEFICIT   03-26 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UK FEB TRADE DEFICIT 224 MLN STG VS DEFICIT 527 MLN IN JAN - OFFICIAL.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15289" NEWID="9768">
<DATE>26-MAR-1987 06:34:45.10</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0469&#31;reute
f f BC-U.K.-FEB-CUURENT-ACCO   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.K. FEB CUURENT ACCOUNT SURPLUS 376 MLN STG VS JAN SURPLUS 73 MLN - OFFICIAL.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15290" NEWID="9769">
<DATE>26-MAR-1987 06:37:09.56</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0472&#31;reute
r f BC-MALAYSIAN-CENTRAL-BAN   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIAN CENTRAL BANK SEES HIGHER 1987 GROWTH</TITLE>
<DATELINE>    KUALA LUMPUR, March 26 - </DATELINE><BODY>Gross domestic product (GDP)
growth in 1987 is expected to grow by between 1.5 and two pct,
up from one pct in 1986, the central bank said.
    The forecast compares with the one pct GDP growth forecast
made by the Treasury last October.
    Bank Negara also said in its annual report that gross
national product (GNP) is expected to grow by 3.5 to four pct,
after declining 7.3 pct in 1986.
    It said that a turnaround in investor confidence since last
November had been spurred by a moderate improvement in oil and
commodity prices and a rise in manufacturing exports.
    Growth in 1987 is expected to come from the anticipated
rise in export earnings if the industrialised countries sustain
their average GNP growth at 2.5 to three pct, it added.
    Bank Negara said its forecast assumes that crude oil will
average 15.50 dlrs a barrel, rubber at 210 cents a kilo, palm
oil at 850 ringgit a tonne, tin at 17 ringgit a kilo and a rise
of 12 pct in manufacturing exports.
    It said Malaysia's international terms of trade will turn
around to rise by two pct in 1987 after declining 12 pct in
1986 and five pct in 1985.
    "In 1987, income will be higher, private consumer spending
is likely to recover and expand... The budget will remain under
strict control... The resource gap in the government's finances
on current account will be bridged over the near term," Bank
Governor Jaafar Hussein said in the report.
    The current account deficit is expected to narrow to 1.19
billion ringgit in 1986 or 1.8 pct of GNP from 1.79 billion or
2.5 pct of the GNP the previous year.
    The bank forecasts the inflation rate will increase by 1.5
pct, after its 0.7 pct rise in 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15291" NEWID="9770">
<DATE>26-MAR-1987 06:41:37.37</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0476&#31;reute
b f BC-U.K.-VISIBLE-TRADE-DE   03-26 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. VISIBLE TRADE DEFICIT NARROWS IN FEBRUARY</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Britain's visible trade deficit narrowed
to a seasonally adjusted provisional 224 mln stg in February
from 527 mln in January, The Trade and Industry Department
said.
    The current account balance of payments in February showed
a seasonally adjusted provisional surplus of 376 mln stg
compared with a surplus of 73 mln in January.
    Invisibles in February were put provisionally at a 600 mln
surplus, the same as in January.
    Seasonally adjusted, imports rose in February to 7.16
billion stg from 6.73 billion in January. Exports rose to a
record 6.93 billion last month from 6.20 billion in January.
    Trade Department officials said the improvement in
Britain's current account contrasted with most private
forecasts and they attributed much of the strength to imports
rising less quickly in February than might otherwise have been
expected.
    The Department said exceptionally cold weather in January
reduced exports that month and that there had been an element
of catching up in the February figures.
    The seasonally adjusted volume index, base 1980, a guide to
underlying non-oil trade, showed exports rising to 131.0 from
114.6 in January and imports rising to 142.2 from 136.5.
    The value of British oil exports in February rose to 751
mln stg from 723 mln in Jnauary while oil imports rose to 425
mln from 352 mln.
    The Department said the upward trend in non-oil export
volume continues and the underlying level of non-oil import
volume seems to have stablised.
    The Departnment said exports to the U.S. May be benefiting
from fluctuations in the mark and yen exchange rates.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15292" NEWID="9771">
<DATE>26-MAR-1987 06:54:47.55</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;f0491&#31;reute
u f BC-LUCAS-SEES-CONTINUED   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>LUCAS SEES CONTINUED GROWTH IN SECOND HALF</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Lucas Industries Plc &lt;LUCS.L> said its
underlying performance would continue to improve in the second
half but profits would be restrained by low activity in U.K.
Commercial vehicle and tractor markets as well as in North
American electronics.
    The company earlier reported a two mln stg rise in pretax
profit to 40 mln in the six months to end-January. The figure
was some five mln below forecasts and Lucas shares dropped
sharply to 557.5p at 1130 GMT from last night's close of 590p.
    It said it would continue with plans for all its activities
to be internationally competitive and profitable.
    Costs of restructuring, reorganisation, employee training
and retraining, particularly in the UK automotive businesses,
together with high research and development spending would
affect profits in the short term.
    But Lucas said it was exploiting growth opportunities in
automotive markets, especially in vehicle breaking and engine
management systems. Recent acquisitions in North America had
strengthened Lucas Aerospace and Lucas Industrial systems.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15293" NEWID="9772">
<DATE>26-MAR-1987 07:01:14.42</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>iwc-wheat</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0497&#31;reute
f f BC-IWC-ups-Soviet-grain   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>IWC ups Soviet grain 1986/87 import estimate three mln tonnes to 29 mln - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15294" NEWID="9773">
<DATE>26-MAR-1987 07:02:37.03</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>iwc-wheat</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0501&#31;reute
f f BC-IWC-lifts-1986/87-wor   03-26 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>IWC lifts 1986/87 world wheat, coarse grain estimate one mln tonnes to record 1,377 mln
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15295" NEWID="9774">
<DATE>26-MAR-1987 07:09:22.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0510&#31;reute
r f BC-ECONOMIC-SPOTLIGHT--   03-26 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - SWISS BANKING SECRECY</TITLE>
<AUTHOR>    By Peter Conradi, Reuters</AUTHOR>
<DATELINE>    ZURICH, March 26 - </DATELINE><BODY>Swiss lawyers have largely headed off an
attempt to restrict banking secrecy and curb their powers to
act for clients despite the new, revised code of banking
conduct agreed by the Bankers' Association this week, analysts
said.
    The "laundering" of drug and "insider dealing" money and
controversy over accounts of the ousted Philippine and Haitian
Presidents have hurt the standing of Swiss banks recently and
strained international relations, particularly with the United
States.
    Critics said the new code fell well short of demands for
reform, doing little to close a key loophole in the requirement
that banks know the identity of their customers.
    The Social Democratic party, a member of the ruling
four-party coalition, which forced an unsuccesful 1984
referendum to curb banking secrecy, complained the code still
fell short of the legal controls they wanted.
    "It looks a slight improvement on paper, but the same tricks
will still be possible in practice," Felix Meier, a senior party
official, told Reuters.
    In contrast, Swiss lawyers are happy with the new code.
    "Apart from a few nuances, we are very pleased with the
agreement," said Max Oesch, a senior official of the Swiss
Lawyers Federation, which has fought a long campaign to prevent
any curbs on lawyers' ability to act for their clients.
    "It has shown that the 4,000 Swiss lawyers who do a good job
should not be punished for the sake of getting at the one or
two black sheep."
    The role of lawyers has been at the centre of long running
discussions on the renewal of the so-called "convention of
diligence," a voluntary code of banking conduct introduced in
response to a major banking scandal here in 1977.
    With secrecy back in the public eye due to the Ferdinand
Marcos case and a Swiss bank link to the recently busted "Pizza
Connection" international heroin ring, officials at the Banking
Commission said earlier this year they wanted a tightening of
rules on anonymity.
    However, the changes in the new code, which comes into
operation in October, have been minor.
    Clients will still be able to keep their identity secret
from the banks provided their lawyer pledges that the
relationship with his client "is not only of a temporary nature"
and involves provision of other legal services.
    The Lawyers' Association said this part of their business
is very minimal anyway. In the majority of cases, people had
perfectly legal private or commercial reasons for not wanting
the bank to know their identity, Oesch said.
    The Banking Commission, despite its earlier demand for a
virtual abolition of the loophole, also said it was happy with
the new code.
    However, critics complain that the agreement does not go
far enough to restrict the role of lawyers and could still be
circumvented by criminals.
    "No other group in society is allowed to regulate itself as
much as the banks," complained Meier of the Social Democrats. "I
hope that the Banking Commission exercises its proper control
function."
    However, other parts of the agreement won praise.
    In particular, banks will also now be required to demand
the identity anyone doing more than 100,000 Swiss francs worth
of business with them, even if they do not have an account at
the bank. Until now, the threshold was 500,000 francs.
    Peter Kluser, head of the National Bank's legal department,
which had argued for a lower limit, said the move could help
combat the use of banks to "launder" or hide the criminal origin
of money.
    The new code also clarifies the legal status of a tribunal
able to impose heavy fines on banks which do not respect the
code.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15296" NEWID="9775">
<DATE>26-MAR-1987 07:12:10.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A
&#22;&#22;&#1;f0517&#31;reute
r f BC-MONTREAL-TRUSTCO-ISSU   03-26 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>MONTREAL TRUSTCO ISSUES CANADIAN DOLLAR EUROBOND</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>Montreal Trustco Inc is issuing a 100 mln
Canadian dlr, 8-1/2 pct bond due May 6, 1992 at 101 pct, lead
manager Societe Generale said.
    The non-callable issue is of unsecured, unsubordinated
debt. Denominations are of 1,000 and 10,000 Canadian dlrs and
listing is in Luxembourg. Payment date is May 5.
    Fees are 1-1/4 pct for selling, 3/8 pct for underwriting
and 1/4 pct for management including a 1/8 pct praecipuum.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15297" NEWID="9776">
<DATE>26-MAR-1987 07:13:52.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>libya</D><D>chad</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0525&#31;reute
u f BC-LIBYANS-APPEAR-TO-BE   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBYANS APPEAR TO BE PULLING OUT OF CHAD</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Libyan forces appear to be
withdrawing from their last stronghold in Chad after suffering
defeats at the hands of French-backed government troops,
according to officials in both the U.S. And France.
    In Washington, a State Department spokesman told reporters
"we have no reason to doubt that Libyan forces are leaving Faya
Largeau," Libya's main garrison in Chad.
    The French Defence Ministry said it could not confirm the
departure of the Libyan troops, but an official said "it is
extremely likely. They are deprived of air cover and supplies,
and their morale must be zero."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15298" NEWID="9777">
<DATE>26-MAR-1987 07:14:36.28</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0528&#31;reute
r f BC-TRADE-SURPLUS-CUT-WOU   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TRADE SURPLUS CUT WOULD BENEFIT JAPAN - SUMITA</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>Bank of Japan Governor Satoshi Sumita
said it is in Japan's national interest to make greater efforts
to reduce its trade surplus.
    He told business executives the most important issues for
the world economy are the correction of international trade
imbalances and a solution to the world debt problem.
    To this end, Japan and the U.S. Must make medium- and
long-term efforts to alter economic structures which have
expanded the trade gap between the two nations. World economic
growth and therefore an expansion of debtor countries' export
markets are needed to solve the debt issue, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15299" NEWID="9778">
<DATE>26-MAR-1987 07:15:16.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0533&#31;reute
u f BC-ALSTHOM-AWARDED-900-M   03-26 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>ALSTHOM AWARDED 900 MLN FRANC PAKISTANI DEAL</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>French heavy engineering group Alsthom
&lt;ALSF.PA> has won a 900 mln franc contract from Pakistan to
supply four 100 MW gas turbines, the company said in a press
release.
    The turbines are for the electricity generating plant at
Kot-Addu, in central Pakistan and are expected to be
operational at the end of 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15300" NEWID="9779">
<DATE>26-MAR-1987 07:18:07.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0546&#31;reute
d f BC-COMMISSION-APPROVES-R   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMISSION APPROVES RAINBOW/PROGRESSIVE MERGER</TITLE>
<DATELINE>    WELLINGTON, March 26 - </DATELINE><BODY>The Commerce Commission has approved
a proposed merger between &lt;Progressive Enterprises Ltd> and
&lt;Rainbow Corp Ltd>, Rainbow said in a statement.
    The merger involves the formation of a new company &lt;Astral
Pacific Corp Ltd> which will acquire all shares in both
companies on a one-for-one share exchange basis.
    Rainbow earlier this week lifted its stake in Progressive
to 52 pct from 44 pct. The statement said a new private
company, &lt;Transcapital Corp Ltd>, fully owned by Rainbow
directors Craig Heatley, Gary Lane and Ken Wikeley, will
purchase this stake for an undisclosed cash sum.
    The Commission has also approved Transcapital acquiring up
to 45 pct of Astral Pacific, Rainbow said.
    &lt;Brierley Investments Ltd>, which has been a frequent
critic of the merger, launched a full bid for Progressive at
4.20 N.Z. Dlrs a share last Monday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15301" NEWID="9780">
<DATE>26-MAR-1987 07:18:57.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0548&#31;reute
u f BC-VIOLENCE-REPORTED-IN   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>VIOLENCE REPORTED IN ECUADOR GENERAL STRIKE</TITLE>
<DATELINE>    QUITO, March 26 - </DATELINE><BODY>At least 14 people were injured and many
arrested in clashes during a one-day general strike called by
Ecuadorean workers to protest against austerity measures
imposed after a major earthquake on March 5.
    Interior Minister Luis Robles said the worst violence was
in Quito, where demonstrators threw rocks at a luxury hotel and
a number of banks.
    Over 80 people in eight cities were detained for stoning
police, attacking troops, damaging buildings and setting fire
to cars, he said. The casualty and damage toll is expected to
rise as detailed reports reach the capital from the provinces.
    Labour leaders said they shut down all of Ecuador's
industrial plants, but Labour Minister Jorge Egas said of the
country's 900 largest factories only 86 were closed, 32 were
partially working and the rest operating normally.
    The strike, called by leftist unions and declared illegal
by the government, was aimed at pressing the administration to
scrap an austerity program adopted on March 13 following an
earthquake that killed up to 1,000 people and caused an
estimated billion dlrs in damage.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15302" NEWID="9781">
<DATE>26-MAR-1987 07:20:17.43</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0552&#31;reute
b f BC-U.K.-MONEY-MARKET-FOR   03-26 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET FORECAST REVISED TO DEFICIT</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The Bank of England said it revised its
estimate of today's money market shortfall to around 350 mln
stg from a flat position.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15303" NEWID="9782">
<DATE>26-MAR-1987 07:21:27.37</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>uk</D><D>canada</D><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>iwc-wheat</D><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0556&#31;reute
b f BC-IWC-LIFTS-WORLD-GRAIN   03-26 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>IWC LIFTS WORLD GRAIN OUTPUT ESTIMATE TO RECORD</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The International Wheat Council (IWC)
lifted its estimate for 1986/87 world wheat and coarse grain
production by one mln tonnes to a record 1,377 mln, compared
with 1,351 mln tonnes the previous season.
    In its monthly market report, the IWC said it is leaving
unchanged its forecast of world wheat production for the coming
1987/88 season at between 520 and 530 mln tonnes against a
record 534 mln in 1986/87. The one mln tonne upward revision in
1986/87 wheat production reflects several minor adjustments.
The IWC raised the 1986/87 coarse grain trade figure two mln to
87 mln tonnes. It left wheat trade unchanged at 86 mln.
    The IWC 1986/87 estimate for world trade in wheat and
coarse grain is thus estimated two mln tonnes higher at 173 mln
against 169 mln the previous season with the forecast three mln
rise in Soviet imports offset by small reductions elsewhere.
    The IWC said the area harvested for wheat in 1987/88 is
likely to be down from last year as low world prices and
restrictive national policies measures begin to take effect.
    At least four of the five major exporters expect to see a
drop in wheat sowings without offset in other countries. There
is still potential for even higher average wheat yields but the
IWC said there are increasing signs world output may level off.
    Although it is still early to assess the coarse grain
outlook, the IWC said barley acreage is likely to fall in the
European Community but increase in Canada. U.S. Maize area is
expected lower but oat sowings could rise.
    After damage to its maize crop last year, the Soviet Union
plans to expand this area by as much as 50 pct to over six mln
hectares in a year when many frost damaged wheat fields are
likely to be resown to this and other spring crops. Improved
weather and a further increase in the use of intensive
cultivation methods could therefore see a marked rise in Soviet
maize output in 1987, the IWC said.
    Any reduction in world coarse grain output would be
bolstered by the large carryover stocks from 1986/87, the IWC
said.
    It left its estimates of wheat and coarse grain stocks at
end&#127;of different marketing years unchanged at 178 and 210 mln
tonnes, respectively, against 160 and 167 mln a year earlier.
    After record world durum wheat production of 218.8 mln
tonnes last season, the IWC said there are already signs of
another large crop this coming season with higher output
expected in the EC, Canada, the U.S. And North Africa.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15304" NEWID="9783">
<DATE>26-MAR-1987 07:22:45.10</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0559&#31;reute
u f BC-BANK-OF-JAPAN-BUYS-SM   03-26 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN BUYS SMALL QUANTITY DOLLARS -DEALERS</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>The Bank of Japan was thought to have
bought a small amount of dollars at around 149.30/40 yen,
dealers said.
    The dollar fluctuated marginally after the small-scale
intervention, believed to total several tens of mlns of dlrs,
they said. Large-scale buying by foreign banks or by a life
insurance company earlier pushed the dollar upwards, they said.
    Trading was not very active and dealers were watching for
further central bank intervention to smooth out any sharp
movements, but underlying dollar sentiment is still bearish.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15305" NEWID="9784">
<DATE>26-MAR-1987 07:26:20.14</DATE>
<TOPICS><D>trade</D><D>bop</D><D>interest</D><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0575&#31;reute
u f BC-U.K.-TRADE-FIGURES-BU   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. TRADE FIGURES BUOY HOPES OF INTEREST RATE CUT</TITLE>
<AUTHOR>    By Rowena Whelan, Reuters</AUTHOR>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The release of U.K. February trade data
showing that the current account surplus was a provisional 376
mln stg, up from a 73 mln surplus in January, has boosted hopes
of an early cut in interest rates, analysts said.
    Market forecasts had been for a worse outcome, with
expectations of a deficit in visible trade averaging about 750
mln stg, against the official figure of 224 mln stg, sharply
narrower than January's 527 mln deficit.
    "The figures are unreservedly good," Chase Manhattan
Securities economist Andrew Wroblewski said.
    Sterling rebounded on the trade figures, reversing a weaker
morning trend, to stand at 72.1 pct of its trade weighted index
against a basket of currencies at midday, unchanged from
yesterday's close but 0.3 points above the 1100 GMT level.
    The market had feared that a deteriorating non-oil trade
pattern would undermine international support for sterling,
which has been the motor behind the recent fall in U.K.
Interest rates. Money market sources said the market had begun
to doubt that a widely expected drop in bank base lending rates
to 9.5 pct from the present 10.0 pct was really on the cards.
    But sentiment now looks to have turned about again.
    There now looks to be no danger that the Chancellor of the
Exchequer Nigel Lawson's forecast of a 1987 current account
deficit of 2.5 billion stg will be exceeded, Wroblewski said.
    Seasonally adjusted figures showed imports rose in February
to 7.16 billion stg from 6.73 billion in January.
    Exports rose to a record 6.93 billion from 6.20 billion.
    However, Chris Tinker, U.K. Analyst at brokers Phillips and
Drew said the faster rise in exports than imports would prove
partly aberrational in coming months. He forecast the
Chancellor's Budget tax cuts would increase consumer
expenditure on imported goods.
    However, Warburg Securities economist Ian Harwood said his
firm was sharply revising its 1987 current account deficit
forecast in the light of the latest data, cutting one billion
stg off the expected full year total to about 1.75 billion stg.
    He said news of strong growth in exports of non-oil goods
confirmed recent bullish surveys among members of the
Confederation of British Industry.
    The growth in imports appears to be flattening, even if
January's bad weather had curbed consumer spending on overseas
goods and import-intensive stock building among manufacturers,
Harwood said.
    U.K. Government bonds, or gilts, surged by more than 1/2
point on the better-than-expected news, as earlier worries
about the figures evaporated.
    Sterling peaked at a high of 1.6075 dlrs, before settling
to a steady 1.6050 about 1300 GMT, nearly a cent higher than
the European low of 1.5960.
    However, analysts noted that the turnabout in market
sentiment still looks highly vulnerable to political news.
    Morning weakness in sterling and the gilt market was
largely attributed to a newspaper opinion poll showing that the
Conservative government's support was slipping.
    LONDON, March 26 - The Bank of England said it provided 15
mln stg in assistance to the money market this morning, buying
bank bills in band two at 9-13/16 pct.
    Earlier the Bank revised its money market liquidity
forecast from a flat position to a deficit of around 350 mln
stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15306" NEWID="9785">
<DATE>26-MAR-1987 07:37:32.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0601&#31;reute
u f BC-ECC-APPROVES-MONTEDIS   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>ECC APPROVES MONTEDISON/HERCULES VENTURE</TITLE>
<DATELINE>    BRUSSELS, March 26 - </DATELINE><BODY>The European Community Commission said
it had approved the creation of Himont, a company in which
Montedison SpA &lt;MONI.MI> of Italy and Hercules Inc &lt;HPC.N) are
major shareholders, after requesting changes in the two
partners' plans for the venture.
    Twenty pct of the capital of Himont, in which Montedison
and Hercules originally planned to take 50 pct stakes, has been
floated publicly and marketing and production agreements have
been modified on the Commission's advice, it said.
    Himont, which is incorporated in the U.S., Groups the two
firms' assets in the polypropylene sector.
    The modified agreements include the abandoning by Hercules
and Montedison of all their direct activities within the EC in
the downstream market of Himont.
    The EC authority said the modifications meant that the
creation of Himont did not appear to lead to restrictive
coordination of activities between Hercules and Montedison, nor
did their respective market shares give them a dominant
position.
    The Commission must approve such link-ups between
competitors under EC competition rules.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15307" NEWID="9786">
<DATE>26-MAR-1987 07:38:56.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0604&#31;reute
u f BC-EC-SELLS-BUTTER-STOCK   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>EC SELLS BUTTER STOCKS TO SOVIET UNION</TITLE>
<DATELINE>    BRUSSELS, March 26 - </DATELINE><BODY>The European Community today sold
181,500 tonnes of ageing butter to the Soviet Union at a
special knockdown price, a spokesman for the EC Commission
said.
    He said the EC's Dairy Management Committee accepted bids
from operators to export the butter, mainly from intervention
stores in Belgium, West Germany and the Netherlands, at a price
of 21.1 European currency units per 100 kilos.
    The butter was bought into Community stores at 313.2 Ecus
per 100 kilos. The sales are part of the EC's process of
attempting to run down its butter surplus.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15308" NEWID="9787">
<DATE>26-MAR-1987 07:39:33.26</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0609&#31;reute
b f BC-GERMAN-NET-CURRENCY-R   03-26 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN NET CURRENCY RESERVES RISE</TITLE>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>West German net currency reserves
rose by 300 mln marks in the third week of March to 82.0
billion, following a fall of 5.4 billion marks in the previous
week, the Bundesbank said.
    Non-currency reserves were unchanged at about 2.5 billion
marks, bringing net monetary reserves to 84.5 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15309" NEWID="9788">
<DATE>26-MAR-1987 07:42:16.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D><D>japan</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>worldbank</D><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C G L M T
&#22;&#22;&#1;f0614&#31;reute
u f BC-WORLD-BANK-CHIEF-CONC   03-26 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK CHIEF CONCERNED ABOUT BRAZIL ECONOMY</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>World Bank president Barber Conable said
he was concerned about the state of Brazil's economy and urged
the country to come up with a plan soon to put its economic
house in order.
    "I am very concerned about the Brazilian economy," he told
reporters after a news conference in Tokyo.
    He said Brazil had caught the attention of the world with
its decision last month to stop paying interest on its loans
from commercial banks but warned it not to sqaunder the time it
gained by failing to come up with a new economic program.
    Brazil's decision jolted the world's financial community as
the country is 108 billion dlrs in debt, including some 68
billion owed to commercial banks.
    Brazilian Finance Ministry sources said in Brasilia
yesterday that the country was preparing a new economic
strategy designed to ensure domestic economic growth.
    Despite mounting domestic and overseas pressure, Brazil has
said repeatedly that it will not go to the International
Monetary Fund (IMF) for help in drawing up a new plan for fear
that will only throw its economy into recession.
    Conable said the country may be able to get away with not
going to the IMF for help, but will need an IMF-type economic
program if it wants to regain the confidence of lenders.
    Outsiders like the World Bank are reluctant to suggest
possible solutions to Brazil's economic problems because of the
delicate political situation there, he added.
    While the World Bank has a role to play in helping Brazil,
it can&#127;ot replace the IMF as an overseer of the economy,
Conable said. He added that the Fund can be very flexible in
its dealings with developing countries, adjusting its approach
to the political realities.
    Brazil still seems willing to talk to the Fund under the
annual discussions that all IMF members undertake, Conable
said, adding that this could partially solve the current
stalemate.
    During his news conference, Conable said the World Bank
backed U.S. Treasury Secretary James Baker's Third World debt
initiative, which calls for stepped up lending to heavily
indebted Third World countries adopting economic policies.
    "The World Bank believes the Baker initiative is the best
approach," he said. "Debt forgiveness is difficult to design in
any fair way and also will tend to discourage further
investment and development."
    He cited the recent multi-billion dollar debt package for
Mexico, the Third World's most indebted country after Brazil.
    "Will it work?" he asked. "We don't know...But we think it
more likely to work than any of the alternatives suggested."
    Conable, who is here to meet government and business
leaders, expressed confidence that Japan will make increasing
use of its huge trade surplus to help developing countries.
    "We are quite confident Japan will make an increasing
investment in development because of their willingness to
support institutions like ours in increasing ways with each
passing year," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15310" NEWID="9789">
<DATE>26-MAR-1987 07:54:09.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0650&#31;reute
u f BC-ITALIAN-TREASURY-ANNO   03-26 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN TREASURY ANNOUNCES CERTIFICATE OFFER</TITLE>
<DATELINE>    ROME, March 26 - </DATELINE><BODY>The Italian Treasury said it would offer
an undetermined amount of 10-year variable-coupon certificates
(CCTs) at a rate unchanged on that of the preceding offer in
late February.
    The Treasury said that, unlike the previous offer, the
amount had not been prefixed. It would be in line with market
demand unless this was considered excessive.
    The CCTs will be priced at 99.00 pct for an effective net
annual yield on the first coupon, payable April 1, 1988, of
9.85 pct.
    Subsequent yields on the certificates will be calculated by
adding 0.75 point to average rates on short-term Treasury
bills.
    Subscriptions to the issue open April 1 and are scheduled
to close April 7.
    The Treasury said it reserved the right to close the issue
early.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15311" NEWID="9790">
<DATE>26-MAR-1987 07:58:25.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0662&#31;reute
u f BC-GUINNESS-PEAT-HAS-CAS   03-26 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>GUINNESS PEAT HAS CASH ADVANCE FACILITY</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Guinness Peat Group Plc &lt;GNSP.L> has
arranged to receive a 125 mln dlr five year cash advance
facility, said Barclays de Zoete Wedd Ltd and Guinness Mahon
and Co Ltd as joint arrangers.
    The two firms said the terms of the facility will be
reviewed after the third year with a view to considering
extension by a further two years.
    The facility will include a tender panel to bid for
multi-currency cash advances at a maximum rate of 0.1875 pct
over the London Interbank Offered Rate.
    The facility will incorporate an underwriting fee of 0.10
pct in addition to a fee of 0.05 to 0.10 pct depending on the
participation amount. In addition, Barclays and Guinness Mahon
have been named joint dealers for a complementary 100 mln dlr
euro-commercial paper program.
    Funds will be used to refinance the cost of the recent
Forstmann-Leff Associates acquisition as well as for general
corporate purposes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15312" NEWID="9791">
<DATE>26-MAR-1987 07:59:38.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0667&#31;reute
b f BC-SUMITOMO-BANK-HAS-500   03-26 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMITOMO BANK HAS 500 MLN STG CD PROGRAM</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Sumitomo Bank Ltd said it established a
500 mln stg certificate of deposit (CD) issuance program,
arranged by Morgan Grenfell and Co Ltd.
    Dealers will be Morgan Grenfell, Lloyds Merchant Bank Ltd,
Samuel Montagu and Co Ltd, Salomon Brothers International Ltd,
Sumitomo Finance International and S.G. Warburg and Co Ltd.
    Maturities will be between seven days and five years and
paper will be issued in denominations of 250,000, 500,000 and
one mln stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15313" NEWID="9792">
<DATE>26-MAR-1987 08:01:44.54</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0670&#31;reute
r f BC-CURRENCY-EXCHANGE-LOS   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CURRENCY EXCHANGE LOSS PUSHES MALAYSIA'S DEBT UP</TITLE>
<DATELINE>    KUALA LUMPUR, March 26 - </DATELINE><BODY>An exchange loss of 7.6 billion
ringgit in 1986 pushed Malaysia's outstanding external debt up
to 50.99 billion ringgit, from 1985's 42.3 billion, the Central
Bank said in its annual report.
    Bank Negara said although Malaysia's net borrowing dropped
in 1986, its external debt rose due to the 30 pct appreciation
of the basket of currencies against which the ringgit is
pegged.
    The basket comprises principally the U.S. Dollar, yen,
mark, Swiss franc, French franc, sterling, guilder, Canadian
and Singapore dollars, it added.
    Bank Negara said growth in external debt, which declined
progressively from a peak of 58 pct in 1982 to 13.6 pct in
1985, rose by 20.2 pct in 1986.
    Malaysia's debt serving ratio of 17.6 pct of its exports in
1986 is within the prudency limit of 20 pct, Bank Negara
Governor Jaafar Hussein told reporters.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15327" NEWID="9793">
<DATE>26-MAR-1987 08:04:20.61</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>uk</D><D>usa</D><D>argentina</D><D>australia</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>iwc-wheat</D><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0675&#31;reute
u f BC-IWC-SAYS-EFFECT-OF-LO   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>IWC SAYS EFFECT OF LOWER SUPPORT PRICES LIMITED</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Efforts by governments to control wheat
surpluses by cutting support prices have met with only partial
success, the International Wheat Council (IWC) says in its
latest monthly report.
    Faster results could be achieved by a policy of reducing
both price and areas, as employed in the United States, the IWC
says in a survey of support prices in the five main wheat
exporters - Argentina, Australia, Canada, the EC and the U.S.
    In some countries, for example Australia and Argentina,
which are highly dependent on wheat shipments for export
income, there may be problems in reducing production.
    A policy of cutting wheat production could lead to
unemployment, with job prospects outside agriculture limited.
Alternative crops may offer inferior returns which could then
lead to lost export revenue and balance of payments problems.
    The IWC outlines three courses of action open to
governments in wheat exporting countries.
    They could continue to support prices in the hope that when
the world economy improves demand for wheat will rise and
surpluses wil be reduced or eliminated.
    Alternatively, support could be limited to wheat which
could be easily sold, without needing to be stored for a long
period.
    This option may prove to be the most politically
unattractive and would result in many producers abandoning
wheat production, the report said.
    The third option would be for governments to distinguish
between the commercial and social aspects of agriculture,
possibly varying support prices according to farm size or
overall production.
    The IWC review covers support prices in the major exporting
countries since 1982. At some time during that period all the
producers cut support prices in response to growing surpluses.
    These changes did not always result in lower export
subsidies as on several occasions currency fluctuations more
than offset lower prices in the domestic currency.
    For example between 1985/86 and 1986/87 the EC intervention
price for bread wheat fell from 209.30 to 179.44 European
currency units (Ecus). It dollar terms, the currency in which
most export transactions are denominated, the intervention
price however rose to 193 dlrs from 168. The high cost of
supporting farm prices has put a strain on national exchequers
and some governments are now searching for ways to cut
expenditure, the report says.
    The proportion of world wheat output produced by the five
major exporters declined in the period covered by the survey
from 40 pct in 1982 to 35 pct in 1987. This was partly due to
increased production in China and India.
    The period saw an upward trend in yields, although this was
countered in the Argentina, the U.S. And Australia by lower
acreages.
    In Argentina a reduction in the sown area of about 20 per
cent was put down to low prices causing producers to switch to
other enterprises, particularly livestock while lower U.S.
Acreages are attributed to official incentives.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15314" NEWID="9794">
<DATE>26-MAR-1987 08:08:13.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0687&#31;reute
u f BC-SANDOZ-HAS-50-MLN-DLR   03-26 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>SANDOZ HAS 50 MLN DLR EURO-CP PROGRAM</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Sandoz Corp, a U.S. Subsidiary of Sandoz
AG, is establishing a 50 mln dlr euro-commercial paper (CP)
program, Morgan Guaranty Ltd said as one of the dealers.
    The other dealer is Swiss Bank Corp International Ltd and
Morgan Guaranty Trust Co of New York is issuing and paying
agent.
    Paper will have maturities between seven and 183 days and
will be issued in global and definitive form.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15315" NEWID="9795">
<DATE>26-MAR-1987 08:11:00.22</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0703&#31;reute
u f BC-U.S.-TREASURY'S-BAKER   03-26 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TREASURY'S BAKER OPPOSES TAX INCREASE</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>U.S. Treasury Secretary James Baker
said that he opposes a Federal tax increase to help reduce the
budget deficit and favors spending cuts instead.
    "I don't think it's (a tax increase) is a very good idea
and I'm quite confident that President Reagan doesn't think
it's a very good idea," Baker said in an interview on Cable
News Network's "Moneyline" television program.
    He said U.S. taxpayers are taxed at a rate of 19 pct of GNP
which is traditionally where it has been, but the Federal
Government is spending at a rate of 24 pct of GNP. Baker said
spending cuts are clearly the best way to cut budget deficits.
    Baker said he opposed a stock transactions tax proposed by
House Speaker Jim Wright, D-Tex, or other special taxes.
    "The stock transfer tax would be a particularly unfortunate
approach to take," the Treasury Secretary said. He said the
United States has some of the most efficient capital markets in
the world and new taxes would impair efficiency.
    On the international front, Baker said banks must do more
lending to developing countries. He was questioned about this
after the Standard and Poor's Corp downgrading today of the
debt of six major money center bank holding companies, largely
because of their heavy developing nation loan exposure.
    Baker said that developing countries must adopt free market
economic policies such as in the United States. He said capital
flows will be required to support the needed reforms in the
economic systems of those countries.
    The money must come either through equity or debt and Baker
said that developing nations' "investment regimes do not
support enough equity investment, so you've got to have some
debt there."
    Commenting on the U.S. trade deficit, Baker said "I think
you're going to see a 15 to 20 billion dlr reduction this
year."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15316" NEWID="9796">
<DATE>26-MAR-1987 08:12:55.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE><D>ongpin</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0716&#31;reute
r f BC-PHILIPPINE-DEBT-TALKS   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE DEBT TALKS PROCEED WITH NARROWER FOCUS</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>The latest round of talks between
Philippine officials and the country's commercial bank
creditors on the rescheduling of 9.4 billion dlrs worth of debt
are still proceeding, but with a narrower focus, Philippine
Finance Secretary Jaime Ongpin said.
    He told a press briefing Wednesday that Manila has dropped
a two-tier interest payment offer, which would have given banks
a higher return if they took partial payment in new Philippine
investment notes (PINs) instead of in cash.
    "The PINs proposal has been laid aside.... The discussion is
now on pricing (of just the cash payments)," he said.
    Foreign banking sources in Manila said on Tuesday that the
Philippines had raised its basic interest rate offer to 7/8
over the London interbank offered rate (LIBOR) but Ongpin would
not discuss details of the pricing negotiations.
    He also refused to speculate on when an overall agreement
might be reached. The talks have been going on for more than
three weeks.
    Manila originally offered to pay interest in cash at 5/8
over LIBOR or in a mixture of cash and PINs -- tradeable,
dollar-denominated, zero coupon notes that could potentially
yield up to one point over LIBOR.
    The PINs option was subsequently modified to guarantee at
least a 7/8 point spread over LIBOR but many bankers still had
grave reservations, seeing it as a possible precedent for other
large debtors to avoid paying interest in cash.
    The PINs proposal has now been left on the table as a
separate option for those banks, which might want to fund their
own investments in the Philippines or sell the notes in the
secondary market, Ongpin said.
    Under Manila's plan, the PINs would be redeemable at full
face value in Philippine pesos to fund local equity investments
at any time prior to their six-year maturity date.
    While the commercial banks had their doubts about the PINs
proposal, Ongpin said there was great interest on the part of
certain investment banks which are already active in the
secondary market for sovereign debt.
    Unlike current debt/equity schemes, Ongpin said, the PINs
would include no government fees and would be free from
"administrative hassles."
    He said about six investment banks had been approached and
four had replied so far. One even showed interest in buying 45
mln dlrs worth of notes, he said.
    Ongpin said that by funding current interest payments in
the secondary market through the PINs scheme, the Philippines
could conserve at least one to 1.5 billion dlrs of foreign
exchange reserves during its planned seven-year restructuring
period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15317" NEWID="9797">
<DATE>26-MAR-1987 08:13:34.90</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0721&#31;reute
r f BC-TREASURY'S-BAKER-SAYS   03-26 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SAYS HE STANDS BY PARIS PACT</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Treasury Secretary James Baker said
he stood by the Paris agreement among leading industrial
nations to foster exchange rate stability around current
levels.
    "I would refer you to the Paris agreement which was a
recognition the currencies were within ranges broadly
consistent with economic fundamentals," Baker told The Cable
News Network in an interview.
    "We were quite satisfied with the agreement in Paris
otherwise we would not have been a party too it," he said.
    Baker also noted the nations agreed in the accord to
"co-operate to foster greater exchange rate stability around
those levels."
    He refused to comment directly on the current yen/dollar
rate but said flatly that foreign exchange markets recently
tended "to draw unwarranted inferences from what I say."
    Baker was quoted on British Television over the weekend as
saying he has no target for the U.S. currency, a statement that
triggered this week's renewed decline of the dollar.
    "I think the Paris agreement represents evidence that
international economic policy co-ordination is alive and well,"
Baker said.
    The Treasury Secretary stressed however it was very
important for the main surplus countries to grow as fast as
they could consistent with low inflation to resolve trade
imbalances.
    He added that Federal Reserve Board chairman Paul Volcker
has also "been very outspoken" in suggesting main trading
partners grow as fast as they can.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15318" NEWID="9798">
<DATE>26-MAR-1987 08:15:33.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0733&#31;reute
r f BC-TREASURY'S-BAKER-DECL   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER DECLINES COMMENT ON VOLCKER</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Treasury Secretary James Baker
declined to comment on whether President Reagan would reappoint
Paul Volcker to a third term as chairman of the Federal Reserve
Board.
    "I spent four years and two weeks in the White House job 
refusing to comment on personnel matters," he said in an
interview with the Cable News Network. "I'm not going to change
now."
    But Baker did say Volcker has "done a tremendous job" and
added they get on "extremely well", both when he was White House
chief of staff and during his term at Treasury.
    When asked whether he differed with Volcker on
international economic policy, Baker said "there's really no
difference of opinion between us with respect to these matters."
    In other comments, Baker said he did not think a tax rise
was a good idea and nor did President Reagan. But he believed
Congress would enact some spending cuts. "The minute you say
raise taxes, all restraints on spending go by the board."
    He once again pointed out that taxes were 19 pct of gnp but
spending was at 24 pct, a statistic he used to argue strongly
for spending cuts.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15319" NEWID="9799">
<DATE>26-MAR-1987 08:16:30.36</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0737&#31;reute
u f BC-GERMAN-ANALYSTS-SEE-G   03-26 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN ANALYSTS SEE GOLD RISING IN 2ND HALF 1987</TITLE>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>The price of gold bullion is likely
to rise in the second half of the year on increased private
investor demand, West German analysts said.
    Gold could rise as high as 500 dlrs per ounce later this
year, said Peter Witte, director of Westdeutsche Landesbank
Girozentrale's trading division, after a presentation by the
U.S. Mint to promote its gold and silver Eagle series coins.
    "A lot will depend on oil prices and developments on stock
exchanges," Witte said, adding he saw gold positioned for
further rises once it breaks out above 450 dlrs.
    Gold was fixed this morning in London at 411.30 dlrs.
    Despite current strong interest in gold mine stocks, many
investors still want to buy physical gold, Witte said.
    Interest in gold mine stocks may also wane if stock
exchange rallies under way in many countries start to waver.
    Hermann Strohmeyer, vice president of Commerzbank AG's
foreign exchange trading and treasury department, said gold is
poised to rise to 460 to 470 dlrs an ounce in the second half
of this year.
    The price is unlikely to fall much below 380 or 390 dlrs an
ounce, and probably will continue in a range between 380 and
430 dlrs in the first half of this year, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15320" NEWID="9800">
<DATE>26-MAR-1987 08:20:17.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0744&#31;reute
u f BC-CAMBRIAN-AND-GENERAL   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CAMBRIAN AND GENERAL NOTES RELISTED IN LONDON</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>&lt;Cambrian and General Securities Plc>
said the London Stock Exchange has restored the listing of its
50 mln dlrs of secured floating rate notes dated 1992 at the
company's request.
    The notes are fully secured and therefore have a prior
claim over Cambrian's assets in the event of other claims
arising from litigation, it added.
    Dealings in Cambrian's securities have been suspended since
late 1986 following the disclosure of insider trading
activities by former chairman Ivan Boesky. Cambrian officials
were not immediately available for further comment on today's
statement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15321" NEWID="9801">
<DATE>26-MAR-1987 08:20:25.94</DATE>
<TOPICS><D>crude</D><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0745&#31;reute
u f BC-GULF-ESCORTS-STILL-UN   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>GULF ESCORTS STILL UNDER DISCUSSION - WEINBERGER</TITLE>
<DATELINE>    FORT WORTH, Texas, March 26 - </DATELINE><BODY>No action has been taken yet
on the Reagan Adminstration's offer to escort Kuwaiti oil
tankers through the Gulf, but the issue is being discussed,
U.S. Secretary of Defence Caspar Weinberger said.
    The offer was made to Kuwait in light of Iran's deployment
of Chinese-built missiles to cover the entrance to the Gulf.
    Weinberger told reporters prior to a speech at Texas
Christian University that he did not think Iran and the United
States were moving towards a potential conflict, adding that
the Straits of Hormuz at the mouth of the Gulf were still "free
water."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15322" NEWID="9802">
<DATE>26-MAR-1987 08:21:36.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>austria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0752&#31;reute
u f BC-AUSTRIA-TREASURY-NOTE   03-26 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRIA TREASURY NOTE ISSUE LIKELY TO BE INCREASED</TITLE>
<DATELINE>    VIENNA, March 26 - </DATELINE><BODY>A floating rate treasury note issue by
the Republic of Austria is likely to be raised to 2.5 billion
schillings from two billion due to heavy demand, lead manager
Oesterreichische Laenderbank AG &lt;OLBV.VI> said.
    Laenderbank managing board member Herbert Cordt told
Reuters that demand had been strong throughout Europe. The
issue, carrying interest of 1/8th of a point over the
three-month Vienna Interbank Offered Rate, is the second of its
kind. The first was made last October 23.
    The issue, made at par, has an initial three-year life and
the borrower has the right to make extensions up to 1997.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15323" NEWID="9803">
<DATE>26-MAR-1987 08:22:39.82</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;f0753&#31;reute
r f BC-NEW-CAPITAL-RULES-WOU   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW CAPITAL RULES WOULD FAVOR FIRST INTERSTATE</TITLE>
<DATELINE>    LOS ANGELES, March 26 -  </DATELINE><BODY>First Interstate Bancorp &lt;I> would
benefit from new banking capital adequacy rules proposed by the
Federal Reserve Board, Chairman Joseph Pinola said.
    "We are one of the few banks that would have an improved
position," Pinola said in an interview, noting First Interstate
has fewer off balance sheet liabilities than many other banks.
    Under the proposed rules, a bank's minimum capital
requirement would be determined by the assessed risk of their
assets, including off balance sheet liabilities that are not
currently taken into account.
    Currently, banks must retain a primary capital ratio of 5.5
pct.
    First Interstate reported a primary capital ratio of 6.14
pct at the end of 1986.
    Pinola said First Interstate has since raised that ratio,
however, to about 6.70 pct, through a recent preferred stock
offering and a 200-mln-dlr subordinated capital note offering
announced yesterday.
    First Interstate reported a relatively average return on
assets ratio of 0.68 at the end of 1986.
    Pinola said First Interstate's return on assets ratio will
improve to the 0.70-0.71 range at the end of the first quarter,
because 1986 year-end assets, at 55.4 billion dlrs, were
overestimated by about two billion dlrs.
    He said he is anxious to improve the return on assets ratio
further, but continued loan losses at First Interstate's Rocky
Mountain state banks continue to hold down profits.
    Pinola said its banks in other states are showing excellent
return on asset ratios, with its Arizona and Washington banks
running at about 1.30, its Oregon bank showing 1.00 and its
California bank at about 0.83.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15324" NEWID="9804">
<DATE>26-MAR-1987 08:23:12.50</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f0757&#31;reute
r f BC-FIRST-INTERSTATE-&lt;I>   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST INTERSTATE &lt;I> ESTIMATES LOSS ON BRAZIL</TITLE>
<DATELINE>    LOS ANGELES, March 26 - </DATELINE><BODY>First Interstate Bancorp Chairman
Joseph Pinola said the bank holding company would lose about 16
mln dlrs per year, after taxes, if it had to put its medium and
long-term debt on non-accrual status.
    In an interview, he said that could result in about a 4.5
pct decline in annual earnings per share.
    Pinola said First Interstate, like other banks, has not yet
decided to put the loans, which Brazil stopped paying interest
on last month, on non-accrual status.
    "None of us really wants to injure negotiations that might
be going on," he said.
    First Interstate reported to the Securities and Exchange
Commission last week that it has about 339 mln dlrs in
medium-to long-term loans to Brazil.
    It said on December 31, 1986 its nonperformind Brazilian
outstanding debt totaled about 4.1 mln dlrs.
    First Interstate also has about 168 mln dlrs in short-term
loans or trade lines to Brazil.
    Pinola said he believes the solution to the Brazilian debt
crisis will be more political than economic, which he said he
finds, "very disquieting and discomforting."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15325" NEWID="9805">
<DATE>26-MAR-1987 08:24:01.82</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0759&#31;reute
f f BC-FRENCH-UNEMPLOYMENT-R   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH UNEMPLOYMENT RISES TO SEASONALLY ADJUSTED 2.65 MLN IN FEBRUARY - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15326" NEWID="9806">
<DATE>26-MAR-1987 08:24:45.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0761&#31;reute
b f BC-CONRAIL-INITIAL-OFFER   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>CONRAIL INITIAL OFFER PRICED AT 28 DLRS SHARE</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Lead underwriter &lt;Goldman, Sachs and
Co> said an initial public offering of 58,750,000 shares of
&lt;Consolidated Rail Corp> common stock has been priced at 28.00
dlrs per share.
    The sale is the largest initial public offering ever.  All
of the shares are being sold by the U.S. government.  They
represent an 85 pct interest in Conrail, the large northeastern
freight-carrying railroad.  Employees of Conrail retain the
other 15 pct.
    The shares will be traded on the New York Stock Exchange
under the ticker symbol &lt;CRR> starting this morning.
    Initially, underwriters had said in proxy materials that
the shares were expected to be priced at 22 to 26 dlrs per
share.  But last week they raised the expected range to 26 to
29 dlrs per share.
    Conrail was formed during the 1970's from Penn Central
Railroad and other financially-distressed northeastern rail
carriers.
    The offering will raise about 1.65 billion dlrs before
underwriting fees.  Previously, the largest initial public
offering in dollar terms had been Henley Group Inc's &lt;HENG> 1.3
billion dlr spinoff from Allied Corp &lt;ALD> last year.
    Other lead underwriters are First Boston Inc &lt;FBC>, Merrill
Lynch and Co Inc &lt;MER>, Salomon Inc &lt;SB> and American Express
Co's &lt;AXP> Shearson Lehman Brothers Inc.
    Fifty-two mln shares are being sold in the U.S. through a
syndicate of 148 underwriters and 6,750,000 overseas through a
27-member syndicate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15328" NEWID="9807">
<DATE>26-MAR-1987 08:25:21.62</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0764&#31;reute
r f BC-MICKELBERRY-CORP-&lt;MBC   03-26 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>MICKELBERRY CORP &lt;MBC> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 26 -
    </DATELINE><BODY>Shr profit 61 cts vs loss 45 cts
    Net profit 3,568,000 vs loss 2,598,000
    Revs 34.6 mln vs 31.6 mln
    Avg shrs 5,861,000 vs 5,776,000
    Year
    Shr profit 56 cts vs loss 32 cts
    Net profit 3,374,000 vs loss 1,759,000
    Revs 132.0 mln vs 131.6 mln
    NOTE: 1985 quarter net includes 665,000 dlr tax credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15329" NEWID="9808">
<DATE>26-MAR-1987 08:25:30.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0765&#31;reute
r f BC-HOLIDAY-&lt;HIA>-SEES-RU   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLIDAY &lt;HIA> SEES RULING NEXT WEEK ON PLAN</TITLE>
<DATELINE>    MEMPHIS, Tenn., March 26 - </DATELINE><BODY>Holiday Corp said the New Jersey
Casino Control Commission will rule April One on the company's
request for approval to proceed with its plan of
recapitalization.
    The Commission ruling is the final regulatory approval
needed.  The company said talks are proceeding smoothly with
its banks, and it plans to finalize the financing for the
recapitalization shortly.  It said assuming Commission
approval, it plans to pay the 65 dlr per share dividend
associated with the plan in April, with the exact timing
depending on the closing of the financing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15330" NEWID="9809">
<DATE>26-MAR-1987 08:29:39.33</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;f0768&#31;reute
d f BC-MICKELBERRY-&lt;MBC>-COM   03-26 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>MICKELBERRY &lt;MBC> COMPLETES SALE OF UNIT</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Mickelberry Corp said it has completed
the previously-announced sale of the 51 pct of its C and W
Group subsidiary that it had retained to N W Ayer Inc for
undisclosed terms.
    Ayer bought the other 49 pct next year.
    Mickelberry said it will report a gain on the transaction.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15331" NEWID="9810">
<DATE>26-MAR-1987 08:29:54.11</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;f0770&#31;reute
r f BC-FLUOROCARBON-CO-&lt;FCBN   03-26 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>FLUOROCARBON CO &lt;FCBN> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    LAGUNA NIGUEL, Calif., March 26 -
    </DATELINE><BODY>Shr 26 cts vs 24 cts
    Net 1,144,000 vs 1,063,000
    Sales 23.2 mln vs 24.8 mln
    Year
    Shr 93 cts vs 1.40 dlrs
    Net 4,046,000 vs 6,111,000
    Sales 97.8 mln vs 104.0 mln
    NOTE: Prior year net includes gain 286,000 dlrs from
discontinued operations in year and loss 375,000 in quarter and
gain 260,000 dlrs in year from disposal of discontinued.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15332" NEWID="9811">
<DATE>26-MAR-1987 08:31:31.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0776&#31;reute
u f BC-ROSTENKOWSKI-SAYS-REA   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSTENKOWSKI SAYS REAGAN MUST RECONSIDER TAX RISE</TITLE>
<DATELINE>     WASHINGTON, March 26 - </DATELINE><BODY>Chairman Dan Rostenkowski of the
tax-writing House Ways and Means Committee said today President
Reagan must reconsider his consistent opposition to any tax
increases.
    The Illinois Democrat, asked on a television interview (on
NBC-Today) about the possibility of tax hikes, said, "I think
the president is going to have to reconsider."
    He added, "I just hope there's enough vision in this
administration to recognize that our deficits are intolerable
and the only way we're going to do it is by raising revenues."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15333" NEWID="9812">
<DATE>26-MAR-1987 08:31:38.38</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0777&#31;reute
b f BC-FRENCH-FEBRUARY-UNEMP   03-26 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH FEBRUARY UNEMPLOYMENT HITS RECORD 2.65 MLN</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>French unemployment rose to a record
seasonally adjusted 2.65 mln in February from 2.61 mln in
January and 2.57 mln at the end of last year, the Labour
Ministry said.
    The rise took the percentage of the workforce out of a job
to 11.0 pct last month from 10.9 pct in January and 10.7 pct at
the end of 1986.
    In unadjusted terms unemployment fell by around 30,000 last
month to 2.70 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15334" NEWID="9813">
<DATE>26-MAR-1987 08:33:52.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0791&#31;reute
r f BC-BAKER-OPPOSES-STOCK-T   03-26 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER OPPOSES STOCK TRANSACTION TAX</TITLE>
<DATELINE>     WASHINGTON, March 26 - </DATELINE><BODY>Treasury Secretary James Baker said
he opposed a stock transactions tax proposed by House Speaker
Jim Wright, D-Tex, or other special taxes.
    "The stock transfer tax would be a particularly unfortunate
approach to take," Baker said in an interview with Cable News
Network.
    The United States has some of the most efficient capital
markets in the world and new taxes would impair efficiency, he
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15335" NEWID="9814">
<DATE>26-MAR-1987 08:33:58.58</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;f0792&#31;reute
u f BC-PHILIPS-ELECTRICAL-SE   03-26 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPS ELECTRICAL SELLS STAKE IN UNIDARE</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>&lt;Philips Electrical (Ireland) Ltd> has
arranged the sale of the one mln ordinary shares it holds in
its subsidiary &lt;Unidare Aluminium Ltd>, Unidare said.
    The placing has been arranged through &lt;Allied Irish
Investment Bank Plc> at an ex-dividend price of 371 Irish pence
per share.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15336" NEWID="9815">
<DATE>26-MAR-1987 08:34:26.33</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0796&#31;reute
f f BC-******AMERICAN-MEDICA   03-26 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN MEDICAL INTERNATIONAL INC 2ND QTR SHR PROFIT 32 CTS VS LOSS 95 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15337" NEWID="9816">
<DATE>26-MAR-1987 08:34:46.06</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0798&#31;reute
u f BC-BAKER-SEES-15-TO-20-B   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SEES 15 TO 20 BILLION DLR DROP IN TRADE GAP</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Treasury Secretary James Baker said
he expected the U.S. Trade deficit to fall by 15 billion to 20
billion dlrs in 1987.
    Commenting on the deficit during an interview on Cable News
Network, Baker said "I think you're going to see a 15 to 20
billion dlr reduction this year." The deficit was 170 billion
dlrs in 1986.
    Baker noted that the benefits of a weaker currency take 12
to 18 months to affect the trade balance, and said it is now 18
months since the Plaza agreement to lower the dollar's value.
            
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15338" NEWID="9817">
<DATE>26-MAR-1987 08:35:44.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0803&#31;reute
r f BC-NEW-GENERATION-FOODS   03-26 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW GENERATION FOODS &lt;NGEN> SELLS SHARES</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>New Generation Foods Inc said 17
warrant holders have exercised 1,032,384 warrants, acquiring
2,064,768 New Generation shares for 1,032,384 dlrs.
    The company said president Jerome S. Flum and Flum
Partners, which he controls, acquired 307,138 and 940,680
shares respectively through the exercise of the warrants.  It
said it also issued another 44,268 common shares on the
exercise of 132,812 warrants in a separate non-cash exchange.
    New Generation now has about 161,000 warrants still
outstanding.
    New Generation also said it has retained Howard Saltzman,
Flum Partners limited partner, to serve as a consultant for one
year.
    It said Saltzer will work closely with Flum and play a
major role in the day-to-day management of New Generation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15339" NEWID="9818">
<DATE>26-MAR-1987 08:39:05.74</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0810&#31;reute
b f BC-/AMERICAN-MEDICAL-INT   03-26 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN MEDICAL INTERNATIONAL INC &lt;AMI> NET</TITLE>
<DATELINE>    BEVERLY HILLS, Calif., March 26 - </DATELINE><BODY>2nd qtr
    Shr profit 32 cts vs loss 95 cts
    Net profit 28.0 mln vs loss 82.2 mln
    Revs 950.2 mln vs 862.0 mln
    1st half
    Shr profit 65 cts vs loss 62 cts
    Net profit 56.6 mln vs loss 53.5 mln
    Revs 1.88 billion vs 1.67 billion
    Avg shrs 92.2 mln vs 86.7 mln
    NOTE: Period ended February 28.
    Prior year net both periods includes pretax asset
writedowns of 114.6 mln dlrs and additions to reserves of 60.0
mln dlrs.
    Prior year net includes tax credits of 53.7 mln dlrs in
quarter and 32.9 mln dlrs in half.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15340" NEWID="9819">
<DATE>26-MAR-1987 08:39:36.15</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;f0811&#31;reute
d f BC-SIEMENS-U.S.-TURNOVER   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SIEMENS U.S. TURNOVER TO RISE IN CURRENT YEAR</TITLE>
<DATELINE>    MUNICH, March 26 - </DATELINE><BODY>Siemens AG &lt;SIEG.F> turnover in the
United States will rise to about 2.6 billion dlrs in the
current year to end September from 2.2 billion in 1985/86,
management board chairman Karlheinz Kaske said.
    He told the annual meeting 80 pct of last year's sales came
from products made in the U.S.. He added Siemens was as
interested as U.S. Authorities in reducing the massive trade
deficit and calming down trade relations.
    "But we would show no understanding if this (trade deficit
reduction) was attempted through means incompatible with the
principle of free world trade," Kaske said.
    Siemens has been the subject of pressure by U.S.
Telecommunications authorities to limit its access to the U.S.
Market for digital telephone switching equipment.
    The Federal Communications Commission announced in December
it was starting an enquiry into the blocking of free access to
the telecommunications market by foreign firms, with officers
saying reciprocal access was not available to U.S. Firms
abroad.
    For years Siemens was the only supplier of public switching
stations to the Bundespost, the German federal post office.
Regulatory authorities in 1982 opened Bundespost contracts to
tenders from other domestic and foreign suppliers.
    But foreign authorities have complained that too many
restrictions to overseas suppliers still remain.
    Kaske said neither Siemens nor the Bundespost could be held
responsible for the U.S. Trade deficit and noted the U.S. Was
still achieving substantial surpluses in trade with West
Germany in the electrical and telecommunications sector.
    The Bundespost is far more open to supplies from abroad
than telephone companies in the U.S. Japan or France, he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15341" NEWID="9820">
<DATE>26-MAR-1987 08:43:35.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0817&#31;reute
u f BC-F.W.-DODGE-REPORTS-FE   03-26 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>F.W. DODGE REPORTS FEBRUARY CONSTRUCTION DROPS</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>F.W. Dodge, a division of Mcgraw-Hill
Inc &lt;MPH>, said that contracting for new construction fell four
pct in February to an annualized rate of 227.6 billion dlrs.
    Construction fell three pct in January, Dodge said.
    Dodge reported that nonresidential building declined four
pct to an annualized rate of 74.5 billion dlrs, residential
building rose five pct to an annualized rate of 121.6 billion
dlrs and nonbuilding construction declined 27 pct to an
annualized rate of 31.5 billion dlrs.
     For the year to date, Dodge reported 1987's unadjusted
total of contracting for new construction fell four pct to 30.4
billion dlrs.
    Nonresidential building declined seven pct to an unadjusted
10.5 billion dlrs, residential building rose two pct to an
unadjusted 14.9 billion dlrs and nonbuilding construction
declined 11 pct to an unadjusted 5.0 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15342" NEWID="9821">
<DATE>26-MAR-1987 08:45:23.41</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0820&#31;reute
u f BC-U.K.-VISIBLE-TRADE-DE   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. VISIBLE TRADE DEFICIT NARROWS IN FEBRUARY</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Britain's visible trade deficit narrowed
to a seasonally adjusted provisional 224 mln stg in February
from 527 mln in January, The Trade and Industry Department
said.
    The current account balance of payments in February showed
a seasonally adjusted provisional surplus of 376 mln stg
compared with a surplus of 73 mln in January.
    Invisibles in February were put provisionally at a 600 mln
surplus, the same as in January.
    Seasonally adjusted, imports rose in February to 7.16
billion stg from 6.73 billion in January. Exports rose to a
record 6.93 billion last month from 6.20 billion in January.
    Trade Department officials said the improvement in
Britain's current account contrasted with most private
forecasts and they attributed much of the strength to imports
rising less quickly in February than might otherwise have been
expected.
    The Department said exceptionally cold weather in January
reduced exports that month and that there had been an element
of catching up in the February figures.
    The seasonally adjusted volume index, base 1980, a guide to
underlying non-oil trade, showed exports rising to 131.0 from
114.6 in January and imports rising to 142.2 from 136.5.
    The value of British oil exports in February rose to 751
mln stg from 723 mln in Jnauary while oil imports rose to 425
mln from 352 mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15343" NEWID="9822">
<DATE>26-MAR-1987 08:46:18.02</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;f0824&#31;reute
u f BC-FRENCH-RESERVES-FALL   03-26 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH RESERVES FALL ON DEBT REPAYMENT</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>French reserves fell in the week ended
March 19 following repayment of the bulk of the debt contracted
during January with the European Monetary Cooperation Fund, the
Bank of France said in its weekly statement.
    The repayment of capital and interest on this loan, taken
out during the strong pressure on the franc which preceded the
European Monetary System (EMS) realignment and the subsequent
Group of Five meeting in Paris, took place on March 13.
    It comprised the repayment of 11.25 billion francs' worth
of European Currency Units (ECUs), 9.72 billion francs' worth
of foreign currency and 1.72 billion francs' worth of special
drawing rights (SDRs), the Bank said.
    As a result foreign currency reserves fell to 114.69
billion francs on March 19 from 120.82 billion on March 12,
while ECU reserves fell to 62.02 billion francs from 73.23
billion.
    Gold reserves remained stable at 218.32 billion francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15344" NEWID="9823">
<DATE>26-MAR-1987 08:47:00.84</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0826&#31;reute
f f BC-******FOOTE-MINERAL-C   03-26 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FOOTE MINERAL CO IN LETTER OF INTENT TO MERGE INTO RIO TINTO-ZINC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15345" NEWID="9824">
<DATE>26-MAR-1987 08:47:56.71</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0831&#31;reute
f f BC-******   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> German March cost of living 0.2 pct below year ago (Feb 0.5 pct below) - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15346" NEWID="9825">
<DATE>26-MAR-1987 08:49:23.00</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;f0837&#31;reute
r f BC-trizec   03-26 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TRIZEC CORP LTD> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    CALGARY, Alberta, March 25 -
    </DATELINE><BODY>Shr 12 cts vs 10 cts
    Net 19.6 mln vs 17.6 mln
    Revs 276 mln vs 170.4 mln
    Avg shrs 85.3 mln vs 84.8 mln
    NOTE: Company owns 65 pct of &lt;Bramalea Ltd>.
                           
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15347" NEWID="9826">
<DATE>26-MAR-1987 08:50:15.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0839&#31;reute
r f BC-BRANIFF-&lt;BAIR>-MAY-GE   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BRANIFF &lt;BAIR> MAY GET MEXICAN SERVICE AUTHORITY</TITLE>
<DATELINE>    DALLAS, March 26 - </DATELINE><BODY>Braniff Inc said a U.S. Department of
Transportation administrative law judge has recommended that a
certificate be granted authorizing Braniff to operate air
service for five years on a temporary and experimental basis
between Dallas/Fort Worth and San Antonio, Texas, and Mexico
City and Acapulco, Mexico.
    The company said the recommendation must still be approved
by Transportation Secretary Elizabeth Dole and President
Reagan. Braniff has been operating the routes under exemption
authority granted by the Transportation Department in October.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15348" NEWID="9827">
<DATE>26-MAR-1987 08:50:27.98</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0841&#31;reute
s f BC-BOSTON-EDISON-CO-&lt;BSE   03-26 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>BOSTON EDISON CO &lt;BSE> REGULAR DIVIDEND</TITLE>
<DATELINE>    BOSTON, March 26 -
    </DATELINE><BODY>Qtly div 44.5 cts vs 44.5 cts in prior qtr
    Payable May one
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15349" NEWID="9828">
<DATE>26-MAR-1987 08:50:47.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0843&#31;reute
u f BC-NIPPON-SIGNAL-ISSUES   03-26 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON SIGNAL ISSUES 50 MLN SWISS FRANC NOTES</TITLE>
<DATELINE>    ZURICH, March 26 - </DATELINE><BODY>Nippon Signal Co Ltd is issuing 50 mln
Swiss franc of five year notes with warrants, paying an
indicated 1-3/8 pct, lead manager Morgan Stanley said.
    Terms will be fixed on April 2 with payment due April 22.
The notes are guaranteed by Fuji Bank Ltd.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15350" NEWID="9829">
<DATE>26-MAR-1987 08:52:41.22</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0847&#31;reute
b f BC-GERMAN-COST-OF-LIVING   03-26 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN COST OF LIVING FALLS IN MARCH ON YEAR-AGO</TITLE>
<DATELINE>    WIESBADEN, March 26 - </DATELINE><BODY>The cost of living in West Germany
was provisionally unchanged in March compared with February but
fell 0.2 pct against March 1986, the Federal Statistics Office
said.
    In February the cost of living rose 0.1 pct from January
but fell 0.5 pct compared with February 1986.
    The office said final figures for March will be released in
about 10 days.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15351" NEWID="9830">
<DATE>26-MAR-1987 08:54:52.28</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0854&#31;reute
f f BC-BRITISH-BANKS-RESIST   03-26 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BRITISH BANKS RESIST SIGNING MEXICO PACKAGE, SEEK MORE EQUITABLE CONTRIBUTIONS - LLOYDS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15352" NEWID="9831">
<DATE>26-MAR-1987 08:56:01.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D><D>turkey</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0857&#31;reute
r f BC-TURKEY-COULD-APPLY-FO   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TURKEY COULD APPLY FOR EC MEMBERSHIP BY EARLY MAY</TITLE>
<DATELINE>    BRUSSELS, March 26 - </DATELINE><BODY>Turkey's European Affairs Minister Ali
Bozer will arrive here on Saturday to set a date for his
country's long-planned application to join the European
Community (EC), expected by early May, diplomats said.
    The Turkish embassy here said an application was expected
"very soon" but gave no date. But sources close to the embassy
said the application for full EC membership would probably be
made in April, or at the latest, by the first week of May.
    Bozer, is due to meet Turkish Prime Minister Turgut Ozal in
London today to decide on the date of the application, they
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15353" NEWID="9832">
<DATE>26-MAR-1987 08:59:48.46</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0863&#31;reute
f f BC-BRITISH-BANKS-RESIST   03-26 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BRITISH BANKS SEEK MORE EQUITABLE CONTRIBUTIONS ON MEXICO PACKAGE - LLOYDS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15354" NEWID="9833">
<DATE>26-MAR-1987 09:00:51.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0866&#31;reute
u f BC-FOOTE-MINERAL-&lt;FTE>-T   03-26 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>FOOTE MINERAL &lt;FTE> TO MERGE INTO RIO TINTO</TITLE>
<DATELINE>    EXTON, Pa., March 26 - </DATELINE><BODY>Foote Mineral Co said it has signed
a letter of intent to merge into &lt;Rio Tinto-Zinc Corp PLC> for
cash.
    The company said at the time of the acquisition, its assets
will include only lithium and ferrosilicon operations. Foote,
which is 83 pct owned by Newmont Mining Corp &lt;NEM>, has signed
a letter of intent to sell its Cambridge operations and said it
is in talks on the sale of its manganese operations with
several companies.  Foote said Newmont has informally indicated
it would vote in favor of the Rio Tinto proposal.
    Foote said terms of the agreement, including price for the
proposed cash transaction, have not been released because they
are subject to a continuing due diligence investigation.
    The company said a definitive merger agreement is expected
to be negotiated within six weeks and shareholders are expected
to vote on the deal at a meeting expected to be held in June or
July.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15355" NEWID="9834">
<DATE>26-MAR-1987 09:01:50.60</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;f0869&#31;reute
u f BC-U.S.-FIRST-TIME-JOBLE   03-26 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FIRST TIME JOBLESS CLAIMS ROSE IN WEEK</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>New applications for unemployment
insurance benefits rose to a seasonally adjusted 341,000 in the
week ended March 14 from 340,000 in the prior week, the Labor
Department said.
    The number of people actually receiving benefits under
regular state programs totaled 2,454,000 in the week ended
March 7, the latest period for which that figure was available.
    That was up from 2,507,000 the previous week.
     
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15356" NEWID="9835">
<DATE>26-MAR-1987 09:05:59.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>mexico</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0875&#31;reute
b f BC-BRITISH-BANKS-RESIST   03-26 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH BANKS RESIST SIGNING MEXICO PACKAGE</TITLE>
<AUTHOR>    By Marguerite Nugent, Reuters</AUTHOR>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>British banks are resisting signing a 76
billion dlr rescheduling package for Mexico in a last ditch
effort to get all participants to contribute equally to a new
7.7 billion dlr loan contained in the package.
    Christopher Brougham, regional manager, rescheduling unit,
at Lloyds Bank Plc, said in response to a Reuter enquiry, that
the six major U.K. Clearing banks last week sent a telex to
Citibank saying they would contribute what was requested
provided all other major lenders did the same and that the U.S.
Banks contribute at least 90 pct of the amount required by
them.
    Other bankers, who declined to be identified, said other
groups of banks particularly those in Switzerland, France and
Canada, were equally reluctant to sign, although they had not
sent any telex to Citibank, which chairs Mexico's 13-bank
advisory group.
    However, they said it was likely that if and when the
British banks sign the accord, the others are likely to follow.
    Under the agreement, for which the signing began on Friday,
commercial banks are being asked to contribute 12.9 pct of
their exposure to Mexico as of August 1982. That was the date
of the first Mexican debt crisis.
    After months of haggling, a proposed rescheduling agreement
for Mexico was struck last September during the annual meeting
of the World Bank and International Monetary Fund in
Washington.
    Ever since then the advisory group, of which Lloyds is a
member, has been attempting to round up the needed signatories.
    However, there has been considerable resistance to the
package, partly because of some of the clauses it contains and
partly because many small U.S. Regional banks do not want to
increase their exposure to any Latin American countries.
    Brougham said, "We (British banks) have always played along
for Mexico and will do so as long as others share equally."
    The decision to send the telexes was agreed on by the six
clearers jointly, but each sent its own telex.
    In addition to Lloyds, telexes were sent by National
Westminster Bank Plc, Barclays Bank Plc, Midland Bank Plc,
&#127;tandard Chartered Bank Plc and Royal Bank of Scotland Plc.
    Brougham noted that so far the U.S. Banks have only reached
83-1/2 pct of the total that is expected from them, while the
level of contributions from the U.K. Banks is well in excess of
90 pct. "The U.S. Figure should be closer to ours," he said.
    Many bankers have been angered by the resistance of the
regional U.S. Banks, noting that even if they don't contribute
to the new loan they still will be receiving interest on the
existing loans.
    The banks still have three weeks to sign the agreement and
bankers are hoping all will go according to plan.
    In the meantime, bankers expect further pressure will be
exercised on the regional banks and the major U.S. Banks to
find a solution to the problem. Many have suggested that the
larger U.S. Banks should take on the additional obligations,
but so far they have resisted this.
    Bankers expect that much of the pressure on the U.S. Banks
will come from U.S. Regulators, notably the Federal Reserve.
    Bankers prefer to view the stance taken by the British
banks and other national groups as "a matter of principal, and
burden sharing" rather than as a "pressure tactic" to force the
U.S. Banks to make up their share.
    The bankers are not the only ones to be upset by the
protracted negotiations surrounding the agreement.
    The Mexicans themselves have been angered by the delays. At
the signing in New York last Friday, Finance Minister Gustavo
Petricioli sounded a warning to the recalcitrant banks.
    "Those who supported us today can be sure that Mexico will
continue to be open and willing to share with them the business
opportunities which its future growth will create," Petricioli
said.
    Conversion of bank debt into equity investments in Mexico
is one option banks can take advantage of to reduce their
exposure. But Mexico halted its debt for equity program in
February in an effort to concentrate on finalising the package.
    On Friday, Petricioli said "We will be a lot more
expeditious in processing the requests of banks that have
supported us."
    The pressure on the U.S. Banks comes at a time when other
major Latin American debtors are in the process of crucial debt
negotiations.
    Brazil, the third world's largest debtor, has suspended all
interest payments on its 109 billion dlrs of foreign debt. Many
of the major U.S. Banks, including Citibank, have already said
they might have to put their Brazil loans on a cash basis and
take the financial losses, which could total billions of
dollars.
    This would be required by U.S. Banking regulations if the
interest payments are more than 90 days overdue.
    However, the U.S. Banks are not the only ones threatened by
regulations. In the U.K., A proposed Inland Revenue ruling
would affect the tax treatment of certain types of loans, many
of which are made to Latin American countries.
    Basically, the ruling wants to limit the tax credit a bank
can claim for tax withheld by foreign governments on loan
interest payments.
    The British banks are planning to fight the proposals as
their implementation could prove extremely costly, not just in
terms of compliance but in limiting future business.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15357" NEWID="9836">
<DATE>26-MAR-1987 09:06:45.47</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0880&#31;reute
d f BC-HONG-KONG-FEBRUARY-TR   03-26 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>HONG KONG FEBRUARY TRADE SWINGS INTO DEFICIT</TITLE>
<DATELINE>    HONG KONG, March 26 - </DATELINE><BODY>Hong Kong recorded a 3.51 billion
H.K. Dlr deficit in February after a 2.54 billion dlr surplus
in January as imports climbed and exports slid, the Census and
Statistics Department said.
    The deficit compared with a deficit of 1.76 billion dlrs in
February 1986.
    Imports rose to 24.12 billion dlrs, up 2.6 pct from
January's 23.52 billion dlrs and 42 pct above the 16.98 billion
dlrs recorded in February 1986.
    Total exports for the month fell 20.9 pct to 20.61 billion
dlrs from 26.06 billion in January.
    February exports were still 35.4 pct above the 15.22
billion dlrs recorded in the same month last year.
    Re-exports, the territory's traditional entrepot trade,
outpaced domestically produced exports for the first time since
March 1985.
    Re-exports fell 11.6 pct to 10.62 billion dlrs from 12.0
billion dlrs in January but were 54 pct above February 1986's
6.88 billion dlrs. Domestic exports slid 28.9 pct to 9.99
billion dlrs from January's 14.05 billion dlrs but were up 19.7
pct over the 8.35 billion dlrs recorded in February 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15358" NEWID="9837">
<DATE>26-MAR-1987 09:07:51.40</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0888&#31;reute
b f BC-******BEST-PRODUCTS-C   03-26 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BEST PRODUCTS CO INC 4TH QTR SHR 1.44 DLRS VS 83 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15359" NEWID="9838">
<DATE>26-MAR-1987 09:13:00.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0905&#31;reute
u f BC-GENERALE-HEAD-CALLS-F   03-26 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERALE HEAD CALLS FOR BELGIAN BANK FLEXIBILITY</TITLE>
<DATELINE>    BRUSSELS, March 26 - </DATELINE><BODY>Belgian banks will need greater
flexibility to choose their sphere of operations by 1992, when
the European Community is due to introduce free competition in
banking throughout the bloc, Generale de Banque SA &lt;GENB.BR>
president Eric de Villegas de Clercamp told a news conference.
    He said at present Belgian and Italian banks were the most
restricted in the EC.
    While German banks were free to hold stakes in commercial
companies in which they invested capital, Belgian banks could
do so only in severely limited circumstances for short periods.
    "The authorities concerned should introduce within a
reasonable period major modifications toward greater freedom
and flexibility if we want to retain competitiveness with the
neighbouring countries," de Villegas said.
    He said the EC authorities envisaged that after 1992
financial institutions would be able to start operations
throughout the EC.
    Since the control of each institution would remain in the
hands of the authorities in its country of origin, rules
applied in member states could distort competition unless they
were harmonised.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15360" NEWID="9839">
<DATE>26-MAR-1987 09:13:08.04</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;f0906&#31;reute
b f BC-BEST-PRODUCTS-CO-&lt;BES   03-26 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>BEST PRODUCTS CO &lt;BES> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    RICHMOND, Va., March 26 -
    </DATELINE><BODY>Shr profit 1.44 dlrs vs profit 83 cts
    Net profit 39.0 mln vs profit 22.5 mln
    Sales 816.1 mln vs 865.3 mln
    Year
    Shr loss 95 cts vs profit eight cts
    Net loss 25.6 mln vs profit 2,223,000
    Sales 2,142,118 vs 2,234,768
    NOTE: Current year net both periods includes prtax
provisions for restructuring operations of 4,868,000 dlrs in
quarter and 38.1 mln dlrs in year.
    Latest year net includes 1,825,000 dlr tax credit and
2,600,000 dlr posttax loss from debt extinguishment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15361" NEWID="9840">
<DATE>26-MAR-1987 09:13:56.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0909&#31;reute
d f BC-K-MART-&lt;KM>-TO-SUPPLY   03-26 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>K MART &lt;KM> TO SUPPLY HOME SHOPPING NETWORK</TITLE>
<DATELINE>    TROY, MICH, March 26 - </DATELINE><BODY>K mart Corp said it signed an
agreement to supply merchandise for Entertainment Marketing
Inc's &lt;EM> home shopping subsidiary, Consumer Discount Network.
    K mart, through its Ultra Buying Network, will begin
supplying non-electronic goods to Consumer Discount Network as
of April 1.
    It said Entertainment Marketing and K mart agreed to share
in the profits. In addition, K mart will receive warrants to
buy two mln shares of Entertainment Marketing's common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15362" NEWID="9841">
<DATE>26-MAR-1987 09:14:47.44</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0910&#31;reute
r f BC-BANK-OF-SPAIN-PROVIDE   03-26 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF SPAIN PROVIDES YEAR RECORD ASSISTANCE FUNDS</TITLE>
<DATELINE>    MADRID, March 26 - </DATELINE><BODY>The Bank of Spain provided 1,145 billion
pesetas in assistance funds which bankers said reflected fears
of fresh increases in overnight rates.
    The daily auction was the biggest of the year and comes
after the previous record set last June 6 of 1,240 billion
pesetas.
    A spokesman for one of Spain top five banks said higher
overnight call money rates were expected in the short term in
view of disappointing money supply figures for February.
    The M-4 money supply, measured as liquid assets in public
hands, rose 16.7 pct last month against 8.1 pct in January and
compared with this year's eight pct target. Money supply growth
was 11.4 pct last year.
    The central bank on Tuesday raised overnight rates by a
quarter of a percentage point to 14 pct on demand for 746
billion pesetas. Rates stood at 12.1 pct at the start of the
year and have been increased to drain liquidity on rising
demand for funds. "The policy is proving counter-productive and
rates will have to come down in the long-term," the bank
spokesman said in reply to Reuters enquiries.
    He said higher rates were fuelling an influx of short-term
speculative capital from abroad.
    "At least 800 mln dlrs of current excess liquidity in the
system is convertible pesetas from West Germany and other
countries with much lower rates," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15363" NEWID="9842">
<DATE>26-MAR-1987 09:16:06.43</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;f0913&#31;reute
r f BC-GREAT-WESTERN-&lt;GWF>-T   03-26 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT WESTERN &lt;GWF> TO REDEEM DEBENTURES</TITLE>
<DATELINE>    BEVERLY HILLS, Calif., March 26 - </DATELINE><BODY>Great Western Financial
Corp said it has called for redeemption a 150 mln dlr issue of
8.5 pct convertible subordinate debentures due 2010 on May 15.
    The company said each 1,000 dlrs principal amount of the
debentures will be redeemed at 1,068 dlrs plus 7.08 dlrs of
accrude interest.
    It said each 1,000 dlrs principal amount of the debentures
is convertible into about 30.075 common shares at the
conversion price of 33.25 dlrs a share. The stock closed at
53-3/4 yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15364" NEWID="9843">
<DATE>26-MAR-1987 09:16:26.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0915&#31;reute
d f BC-CHINA,-PORTUGAL-INITI   03-26 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA, PORTUGAL INITIAL MACAO PACT</TITLE>
<DATELINE>    PEKING, March 26 - </DATELINE><BODY>China and Portugal today initialled a
joint declaration under which the 400-year-old colony of Macao
will be handed over to Peking on December 20, 1999, the
official New China News Agency reported.
    Portuguese Prime Minister Anibal Cavaco Silve said in
Lisbon yesterday that China had promised that Macao's existing
political, economic and social system will be maintained until
the year 2050.
    Macao, across the Pearl River estuary from Hong Kong, has a
population of about 400,000.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15365" NEWID="9844">
<DATE>26-MAR-1987 09:17:18.80</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0919&#31;reute
r f BC-ETHYL-CORP-&lt;EY>-UNITS   03-26 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>ETHYL CORP &lt;EY> UNITS COMPLETE ACQUISITON</TITLE>
<DATELINE>    RICHMOND, Va., March 26 - </DATELINE><BODY>Ethyl Corp said its subsidiaries
completed the acquisiton of Nelson Research and Development Co
&lt;NELR>.
    The merger was approved following completion on Jan 27 of a
tender offer valued at approximately 55 mln dlrs, the company
said.
    It added that Nelson, based in Irvine, Calif., will be
operated as a wholly-owned subsidiary of Ethyl.
    Nelson designs and develops new drugs, Ethyl said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15366" NEWID="9845">
<DATE>26-MAR-1987 09:18:19.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0921&#31;reute
u f BC-jefferies-is-making   03-26 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>JEFFERIES IS MAKING A MARKET IN STANDARD &lt;SRD></TITLE>
<DATELINE>    LOS ANGELES, March 26 - </DATELINE><BODY>Jefferies and Co Inc said it is
making a market in Standard Oil Co at 73 bid offerred at 75 --
has been trading stock at 74.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15367" NEWID="9846">
<DATE>26-MAR-1987 09:19:52.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0924&#31;reute
u f BC-COLONIAL-&lt;CABK>-TALKS   03-26 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>COLONIAL &lt;CABK> TALKS WITH DISSIDENTS BREAK DOWN</TITLE>
<DATELINE>    ROANOKE,M Va., March 26 - </DATELINE><BODY>Colonial American Bankshares Corp
said it met with the dissident shareholder group Colonial
American Shareholders Committee to consider a settlement to
their dispute that would give the group representation on the
Colonial board, but the talks broke down.
    The company said it does not want a proxy contest, but if
the committee presents nominees for election as directors at
the April 27 annual meeting, Colonial will take "all
appropriate steps" to win.
    The company said "There was disagreement on several issues,
including a demand by the committee for reimbursement by the
corporation of approximately 275,000 dlrs in exepnses incurred
by the committee.  The board felt it was inappropriate to
reimburse the committee for any of its expenses."
    The group owns under 15 pct of Colonial stock.  Colonial
has nominated a slate of four directors for election at the
annual meeting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15368" NEWID="9847">
<DATE>26-MAR-1987 09:21:50.93</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>uk</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0930&#31;reute
d f PM-BRITAIN-JAPAN   03-26 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH POLITICIANS URGE JAPAN TRADE SANCTIONS</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>One hundred members of Britain's ruling
Conservative Party have signed a motion calling for trade
sanctions against Japan to force Tokyo to open its domestic
market to British goods.
    The government announced last week that Japan had a 5.9
billion dlr trade surplus with Britain in 1986.
    The Department of Trade and Industry said the government
was drawing up contingency plans to force Japan into opening up
its domestic markets but a spokesman said such moves were very
much a last resort.
    Ideas being considered included blocking Japanese companies
from trading in Britain and revoking licenses of Japanese
operations in the London financial district.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15369" NEWID="9848">
<DATE>26-MAR-1987 09:24:31.15</DATE>
<TOPICS><D>trade</D><D>bop</D><D>interest</D><D>stg</D><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0934&#31;reute
r f BC-U.K.-TRADE-FIGURES-BU   03-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. TRADE FIGURES BUOY HOPES OF INTEREST RATE CUT</TITLE>
<AUTHOR>    By Rowena Whelan, Reuters</AUTHOR>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The release of U.K. February trade data
showing that the current account surplus was a provisional 376
mln stg, up from a 73 mln surplus in January, has boosted hopes
of an early cut in interest rates, analysts said.
    Market forecasts had been for a worse outcome, with
expectations of a deficit in visible trade averaging about 750
mln stg, against the official figure of 224 mln stg, sharply
narrower than January's 527 mln deficit.
    "The figures are unreservedly good," Chase Manhattan
Securities economist Andrew Wroblewski said.
    Sterling rebounded on the trade figures, reversing a weaker
morning trend, to stand at 72.1 pct of its trade weighted index
against a basket of currencies at midday, unchanged from
yesterday's close but 0.3 points above the 1100 GMT level.
    The market had feared that a deteriorating non-oil trade
pattern would undermine international support for sterling,
which has been the motor behind the recent fall in U.K.
Interest rates. Money market sources said the market had begun
to doubt that a widely expected drop in bank base lending rates
to 9.5 pct from the present 10.0 pct was really on the cards.
    But sentiment now looks to have turned about again.
    There now looks to be no danger that the Chancellor of the
Exchequer Nigel Lawson's forecast of a 1987 current account
deficit of 2.5 billion stg will be exceeded, said Wroblewski.
    Seasonally adjusted figures showed that imports rose in
February to 7.16 billion stg from 6.73 billion in January.
    Exports rose to a record 6.93 billion from 6.20 billion.
    However, Chris Tinker, U.K. Analyst at brokers Phillips and
Drew said that the faster rise in exports than imports would
prove partly aberrational in coming months. He forecast the
Chancellor's Budget tax cuts would increase consumer expediture
on imported goods.
    However, Ian Harwood, economist at Warburg Securities, said
his firm was sharply revising its 1987 current account deficit
forecast in the light of the latest data, cutting one billion
stg off the expected full year total to about 1.75 billion stg.
    He said news of strong growth in exports of non-oil goods
confirmed recent bullish surveys among members of the
Confederation of British Industry.
    The growth in imports appears to be flattening, even if
January's bad weather had curbed consumer spending on overseas
goods and import-intensive stock building among manufactureres,
Harwood said.
    U.K. Government bonds, or gilts, surged by more than 1/2
point on the better-than-expected news, as earlier worries
about the figures evaporated.
    Sterling peaked at a high of 1.6075 dlrs, before settling
to a steady 1.6050 dlrs about 1300 GMT, nearly a cent higher
than the European low of 1.5960.
    However, analysts noted that the turnabout in market
sentiment still looks highly vulnerable to political news.
    Morning weakness in sterling and the gilt market was
largely attributed to a newspaper opinion poll showing that the
Conservative government's support was slipping.
    The Marplan poll, published in "Today," showed Conservative
support had fallen to 36 pct, from 38 pct last month, while the
Alliance of Liberals and Social Democrats had rallied to 31
pct, from 21 pct, to run neck and neck with the Labour Party,
whose own support fell from 38 pct.
    The poll was taken after the Budget, which was greeted
enthusiastically by financial markets but seems to have left
the voters indifferent, political observers said.
    Another regular poll is due tomorrow, and eonomists warn
that today's improved sentiment could be dented if support for
Prime Minister Margaret Thatcher slips again.
    This upsetting of the markets' political perceptions, which
are all but discounting a Conservative victory in the upcoming
general election, made them more sensitive to the trade data,
Harwood said. "The news did come as a very, very substantial
relief," he said.
    However, on the interest rate front, economists caution
that Lawson might be wary of leaving sterling vulnerable by
encouraging another base rate fall. They noted Lawson had
already got an inflation-reducing cut in mortgage rates in
response to lower base rates, so domestic political reasons for
lower rates have been curtailed.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15370" NEWID="9849">
<DATE>26-MAR-1987 09:24:48.51</DATE>
<TOPICS><D>trade</D><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0935&#31;reute
d f PM-KOREA-OIL   03-26 0137</UNKNOWN>
<TEXT>&#2;
<TITLE>S. KOREA MAY BUY U.S. OIL TO AID TRADE BALANCE</TITLE>
<DATELINE>    SEOUL, March 26 - </DATELINE><BODY>South Korea is studying a plan to buy
more coal from the United States and to start importing Alaskan
crude oil to help reduce its huge trade surplus with the United
States, Energy Ministry officials said today.
    They said the plan would dominate discussions at two-day
energy talks between officials of the two countries in
Washington from April 1.
    Huh Sun-yong, who will attend the talks with three other
Seoul government officials, told Reuters that Seoul was
"positively considering buying a certain amount of Alaskan oil
beginning this year as part of our government's overall plan to
reduce a widening trade gap between the two countries."
    Huh said however that South Korean refineries considered
the Alaskan oil economically uncompetitive.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15371" NEWID="9850">
<DATE>26-MAR-1987 09:25:09.77</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0937&#31;reute
u f BC-BP-&lt;BP>-TO-HOLD-NEW-Y   03-26 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>BP &lt;BP> TO HOLD NEW YORK PRESS CONFERENCE</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>British Petroleum Co PLC said it has
scheduled a New York press conference for 1300 EST/1800 gmt
today at which senior management will discuss the company's
proposed acquisition of the 45 pct of Standard Oil Co &lt;SRD>
that it does not already own for 70 dlrs per share.
    The offer is worth about 7.4 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15372" NEWID="9851">
<DATE>26-MAR-1987 09:30:29.07</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;f0958&#31;reute
f f BC-******U.S.-TREASURY'S   03-26 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. TREASURY'S MULFORD REAFFIRMS G-6 PACT TO FOSTER CURRENCY STABILITY AROUND CURRENT LEVELS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15373" NEWID="9852">
<DATE>26-MAR-1987 09:32:01.11</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;f0965&#31;reute
f f BC-******TREASURY'S-MULF   03-26 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S MULFORD SAYS G-6 HAS NO CURRENCY TARGET ZONES, RANGES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15374" NEWID="9853">
<DATE>26-MAR-1987 09:34:24.01</DATE>
<TOPICS><D>gold</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;f0981&#31;reute
r f BC-GERMAN-ANALYSTS-SEE-G   03-26 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN ANALYSTS SEE GOLD FIRMING LATER THIS YEAR</TITLE>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>The price of gold bullion is likely
to rise in the second half of the year on increased private
investor demand, West German analysts said.
    Gold could rise as high as 500 dlrs per ounce later this
year, said Peter Witte, director of Westdeutsche Landesbank
Girozentrale's trading division, after a presentation by the
U.S. Mint to promote its gold and silver Eagle series coins.
    "A lot will depend on oil prices and developments on stock
exchanges," Witte said, adding he saw gold positioned for
further rises once it breaks out above 450 dlrs.
    Gold was fixed this morning in London at 411.30 dlrs.
    Despite current strong interest in gold mine stocks, many
investors still want to buy physical gold, Witte said.
    Interest in gold mine stocks may also wane if stock
exchange rallies under way in many countries start to waver.
    Hermann Strohmeyer, vice president of Commerzbank AG's
foreign exchange trading and treasury department, said gold is
poised to rise to 460 to 470 dlrs an ounce in the second half
of this year.
    The price is unlikely to fall much below 380 or 390 dlrs an
ounce, and probably will continue in a range between 380 and
430 dlrs in the first half of this year, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15375" NEWID="9854">
<DATE>26-MAR-1987 09:34:39.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0983&#31;reute
r f BC-ESSEX-CHEMICAL-&lt;ESX>   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ESSEX CHEMICAL &lt;ESX> SELLS CONVERTIBLE DEBT</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Essex Chemical Corp is raising 60 mln
dlrs via an offering of convertible subordinated debentures due
2012 with a six pct coupon and par pricing, said lead manager
Thomson McKinnon Securities Inc.
    The debentures are convertible into the company's common
stock at 40 dlrs per share, representing a premium of 23.6 pct
over the stock price when terms on the debt were set.
    Non-callable for two years, the issue is rated B-1 by
Moody's Investors Service Inc and B by Standard and Poor's
Corp. PaineWebber Inc co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15376" NEWID="9855">
<DATE>26-MAR-1987 09:35:35.03</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0987&#31;reute
b f BC-U.K.-MONEY-MARKET-REC   03-26 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET RECEIVES 226 MLN STG ASSISTANCE</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The Bank of England said it operated in
the money market this afternoon, buying 226 mln stg in bills.
    In band one, the central bank bought 37 mln stg treasury
bills and 72 mln stg bank bills at 9-7/8 pct together with 117
mln stg band two bank bills at 9-13/16 pct.
    This brings total money market help so far today to 241 mln
stg and compares with the Bank's revised estimate of a 350 mln
stg shortfall.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15377" NEWID="9856">
<DATE>26-MAR-1987 09:35:52.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0988&#31;reute
u f BC-SWEDEN-REVISES-BUDGET   03-26 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDEN REVISES BUDGET FORECASTS</TITLE>
<DATELINE>    STOCKHOLM, March 26 - </DATELINE><BODY>Sweden's state-run Institute of
Economic Research released its forecast of economic indicators
during 1987 upon which revisions to the state budget, due to be
put forward at the end of next month, will be based.
    The institute predicted an increase in exports by 2.2 pct
to 277.72 billion crowns, with imports up 2.9 pct on 1986 to
247.51 billion.
    The balance of payments current account, which showed a
1986 surplus of 7.6 billion crowns, will be reduced to a
surplus of no more than 1.5 billion, according to the
institute.
    The state-run institute's forecast will be used as a basis
for revisions which the Finance Ministry is due to make to the
state budget, which was published in January.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15378" NEWID="9857">
<DATE>26-MAR-1987 09:35:55.89</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0989&#31;reute
f f BC-BANK-OF-FRANCE-LEAVES   03-26 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF FRANCE LEAVES MONEY MARKET INTERVENTION RATE UNCHANGED AT 7-3/4 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15379" NEWID="9858">
<DATE>26-MAR-1987 09:36:08.33</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;f0991&#31;reute
r f BC-MCO-&lt;MCO>,-MAXXAM-&lt;MX   03-26 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>MCO &lt;MCO>, MAXXAM &lt;MXM> HOLDERS APPROVE MERGER</TITLE>
<DATELINE>    LOS ANGELES, March 26 - </DATELINE><BODY>MCO Holdings Inc said its
shareholders and those of MAXXAM Group Inc have approved the
proposed merger of the two companies.
    MCO said one MAXXAM shareholder has filed an objection to
the proposed settlement of shareholder actions related to the
merger in the Delaware Court of Chancery. A hearing on the
settlement proposal is scheduled for March 27... The merger is
subject to court approval of the settlement as well as to other
conditions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15380" NEWID="9859">
<DATE>26-MAR-1987 09:36:15.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E RM
&#22;&#22;&#1;f0992&#31;reute
u f BC-CANADA-DETAILS-TWO-BO   03-26 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA DETAILS TWO BOND AUCTIONS</TITLE>
<DATELINE>    OTTAWA, March 26 - </DATELINE><BODY>The finance department said it will sell
500 mln dlrs of three-year 3-1/2 month bonds to primary
distributors in a previously announced auction March 31.
    It said another 400 mln dlrs of seven-year 3 month bonds
will be auctioned April 1.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15381" NEWID="9860">
<DATE>26-MAR-1987 09:37:19.74</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0993&#31;reute
u f BC-PRICE-CO-&lt;PCLB>-2ND-Q   03-26 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>PRICE CO &lt;PCLB> 2ND QTR MARCH 15 NET</TITLE>
<DATELINE>    SAN DIEGO, March 26 -
    </DATELINE><BODY>Shr 34 cts vs 29 cts
    Net 16.7 mln vs 13.3 mln
    Sales 678.7 mln vs 531.0 mln
    Avg shrs 48.9 mln vs 45.8 mln
    1st half
    Shr 81 cts vs 69 cts
    Net 39.5 mln vs 31.7 mln
    Sales 1.71 billion vs 1.35 billion
    Avg shrs 48.9 mln vs 45.8 mln
    NOTE: Twelve and 28-week periods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15382" NEWID="9861">
<DATE>26-MAR-1987 09:37:47.30</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0996&#31;reute
r f BC-carolian-systems-sees   03-26 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>CAROLIAN SYSTEMS SEES LOWER FISCAL 1987 PROFIT</TITLE>
<DATELINE>    TORONTO, March 26 - </DATELINE><BODY>&lt;Carolian Systems International Inc>
said it anticipates profit for fiscal 1987 ending June 30 will
be lower than fiscal 1986 earnings of 410,000 dlrs, despite an
expected revenue increase of 37 pct to more than 3.5 mln dlrs.
    After an extraordinary expense associated with the
December, 1986 withdrawal of a planned common share offering,
"we expect to be modestly profitable for the year, but below the
410,000 dlrs earned in fiscal 1986," the company said.
    Carolian previously reported fiscal six month profit of
12,933 dlrs, excluding an extraordinary loss of 17,210 dlrs,
compared to earnings of 69,829 dlrs in the prior year.
    The company said it anticipated fiscal 1987 earnings to be
lower due to withdrawal of its share offering, computer
equipment shipment delays and costs associated with sales staff
expansion.
    A strengthening Canadian dollar against U.S. currency will
also adversely affect revenues and earnings, since 85 pct of
revenues are generated by sales outside Canada, said Carolian,
a leading supplier of utility software for Hewlett-Packard
computer systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15383" NEWID="9862">
<DATE>26-MAR-1987 09:39:19.15</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1001&#31;reute
f f BC-BANK-OF-FRANCE-BUYS-D   03-26 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF FRANCE BUYS DOLLARS, SELLS YEN - DEALERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15384" NEWID="9863">
<DATE>26-MAR-1987 09:40:05.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>tunisia</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1002&#31;reute
b f BC-TUNISIA-TO-BREAK-TIES   03-26 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>TUNISIA TO BREAK TIES WITH IRAN</TITLE>
<DATELINE>    TUNIS, March 26 - </DATELINE><BODY>Tunisia has decided to break diplomatic
relations with Iran, the foreign ministry said.
    A communique published by the official TAP news agency said
the Iranian embassy in Tunis had been engaged in activities
liable to disturb public order.
    These included acts aimed at sowing ideological confusion
and anarchy, the communique said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15385" NEWID="9864">
<DATE>26-MAR-1987 09:42:19.17</DATE>
<TOPICS><D>money-fx</D><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1007&#31;reute
b f BC-/U.S-TREASURY'S-MULFO   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S TREASURY'S MULFORD REAFFIRMS G-6 AGREEMENT</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Treasury Assistant Secretary David
Mulford reaffirmed U.S. backing for the Paris Agreement among
six industrial nations to cooperate closely to foster exchange
rate stability around current levels.
    In testimony prepared for delivery before a Senate banking
subcommittee, Mulford said there was broad recognition in Paris
that "further substantial exchange rate shifts could damage
growth and adjustment prospects."
    But he also said while there are clear understandings among
the countries regarding cooperation, "We have refrained from
establishing a system of target zones or ranges."
    Mulford also said the six nations have not spelled out the
way in which they intend to deal with possible market
developments.
    He said governments must retain flexibility in dealing with
exchange market pressures and efforts to establish rigid
exchange rate objectives "or to specify too precisely the goals
of intervention" would hurt official attempts to react to
market pressures, he said.
    Accordingly, Mulford said setting specific currency
objectives and intervention to achieve those objectives would
be counterproductive.
    Commenting on the trade deficit, Mulford reiterated the
Treasury position that the current account deficit will decline
from 148 billion dlrs last year to around 130 billion dlrs this
year, due to the exchange rate adjustments of the past 18
months.
    But he added trade imbalances would also be corrected by
commitments from West Germany and Japan to stimulate their
economies and by U.S. efforts to cut the budget deficit and
enhance U.S. competitiveness.
    He also said some newly industrialized countries should let
their currencies appreciate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15386" NEWID="9865">
<DATE>26-MAR-1987 09:42:26.50</DATE>
<TOPICS><D>grain</D><D>corn</D><D>wheat</D><D>barley</D></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;f1008&#31;reute
u f BC-FRENCH-FREE-MARKET-CE   03-26 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED</TITLE>
<DATELINE>     PARIS, March 26 - </DATELINE><BODY>French operators have requested licences
to export 675,500 tonnes of maize, 245,000 tonnes of barley,
22,000 tonnes of soft bread wheat and 20,000 tonnes of feed
wheat at today's European Community tender, traders said.
    Rebates requested ranged from 127.75 to 132.50 European
Currency Units a tonne for maize, 136.00 to 141.00 Ecus a tonne
for barley and 134.25 to 141.81 Ecus for bread wheat, while
rebates requested for feed wheat were 137.65 Ecus, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15387" NEWID="9866">
<DATE>26-MAR-1987 09:43:13.45</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1012&#31;reute
u f BC-U.S.-GOLD-EAGLE-SALES   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. GOLD EAGLE SALES PROJECTED AT 3.1 MLN OUNCES</TITLE>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>American Eagle gold bullion coin
sales are projected at 3.1 mln troy ounces in their first year
on the market, well above the target of 2.2 mln, Donna Pope,
director of the U.S. Mint, told journalists.
    World sales, which began on October 20, 1986, reached 2.193
mln ounces in less than six months of sales. This made it world
market leader with a share of 37 pct in 1986, Pope said.
    Pope said that in volume terms, nearly half of all gold
Eagle sales were within North America, roughly 40 pct were in
Europe and about eight pct in Asia.
    She said despite introduction of several new gold bullion
coins on the market recently, the Mint is aiming to preserve
the Eagle's strong market share with extensive publicity.
    The Mint uses mainly newly mined U.S. Gold for the coins,
as long as this is available at market prices. The remaining
gold is taken either from U.S. Treasury stocks, or from the
open market, Pope said.
    Gold analysts said the Eagle is facing competition here
from the Canadian Maple Leaf, and also to a lesser extent from
the South African Krugerrand. Some estimated the Maple Leaf's
West German market share at 60 pct.
    The figures may be distorted, as many German investors buy
gold bullion in Switzerland or Luxembourg to escape the 14 pct
value-added tax imposed here. Including the tax, the one-ounce
coins traded today at 906 marks, they said.
    Competition may also come from new gold coins, including
Belgium's ECU, which began sales today. Britain and Australia
also have plans to mint gold bullion coins, the analysts said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15388" NEWID="9867">
<DATE>26-MAR-1987 09:43:48.80</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1016&#31;reute
u f BC-NEOAX-&lt;NOAX>-TO-SELL   03-26 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>NEOAX &lt;NOAX> TO SELL NOVATRONICS FOR 20 MLN DLRS</TITLE>
<DATELINE>    LAWRENCEVILLE, N.J., March 26 - </DATELINE><BODY>Neoax Inc said it has
agreed to sell the assets and business of its Novatronics
Division to Veeco Instruments Inc &lt;VEE> for 20 mln dlrs.
    Neoax said it expects a gain of about nine mln dlrs on the
transaction which is expected to becomleted during the second
quarter, adding the gain will be sheltered by its tax loss
carryforwards.
    Novatronics makes military-specification power supplies and
avionics components for various prime government defense
contractors. It had 1986 sales of 21 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15389" NEWID="9868">
<DATE>26-MAR-1987 09:46:18.23</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1021&#31;reute
r f BC-PONCE-FEDERAL-BANK-FS   03-26 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>PONCE FEDERAL BANK FSB &lt;PFBS> RAISES DIVIDEND</TITLE>
<DATELINE>    PONCE, P.R., March 26 -
    </DATELINE><BODY>Qtly div nine cts vs 7.5 cts in prior qtr
    Payable April 15
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15390" NEWID="9869">
<DATE>26-MAR-1987 09:46:34.37</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;f1022&#31;reute
r f BC-FOOTHILL-GROUP-&lt;FGI>   03-26 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>FOOTHILL GROUP &lt;FGI> SEES BETTER FIRST QUARTER</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Don Gevirtz, chairman of The Foothill
Group Inc, told Reuters the company's first quarter results
will be up sharply over last year's eight cents a share.
    "First quarter results will be dramatically better," he
said following a presentation to analysts. He cited a sharp
drop in non-earning assets, healthy asset growth and lower
expenses.
    He declined to predict specific results for the first
quarter. In the 1986 first quarter, the commerical finance
company earned 606,000 dlrs, or eight cts per share.
    Gevirtz also declined to predict full year results, but
said, "We expect an excellent year." In 1986 Foothill earned
3,239,000 dlrs, or 41 cts per share.
    Analysts expect Foothill to record earnings of 65 cts to 85
cts a share in 1987.
    During the presentation Gevirtz said Foothill has reduced
to less than five pct the company's level of non-performing
assets, which was as high as eight pct in previous years.
    David Hilton, chief financial officer, said the company's
general and administrative expenses in 1987 will be reduced to
about 3.0 to 3.5 pct of average assets from 4.3 pct in 1986.
    The company had average assets of 399.8 mln dlrs from
continuing operations and 29.8 mln dlrs from discontinued
operations in 1986, according to its annual report.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15391" NEWID="9870">
<DATE>26-MAR-1987 09:47:46.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1030&#31;reute
r f BC-COMMODORE-&lt;CBU>-IN-PA   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMODORE &lt;CBU> IN PACT FOR COMPUTER GRAPHICS</TITLE>
<DATELINE>    WEST CHESTER, Pa., March 26 - </DATELINE><BODY>Commodore International Corp
said it entered into two agreements to provide Amiga computer
graphics technology to the coin-operated amusement industry.
    The agreements are with London-based &lt;Mastertronic Ltd> and
&lt;Grand Products> of Elk Grove, Ill., and they join a similar
previously-announced agreement with Bally Manufacturing Corp
&lt;BLY>, the company said.
    Under the terms of the agreement, Commodore said it will
supply the companies with Amiga printed circuit board and
Commodore technical knowhow and will obtain software licensing
rights to video games developed for the Amiga hardware.
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15392" NEWID="9871">
<DATE>26-MAR-1987 09:49:51.82</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1032&#31;reute
u f BC-BANK-OF-FRANCE-BUYS-D   03-26 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF FRANCE BUYS DOLLARS, SELLS YEN - DEALERS</TITLE>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>The Bank of France intervened on the
market to buy dollars and sell yen to support the U.S.
Currency, dealers said.
    A major French bank said it acted for the central bank in
buying between five and 15 mln dlrs against yen.
    A dealer at another bank said his bank had been asked to
publicise the intervention, to send a clear signal to the
markets that central banks were acting in concert to maintain
the exchange rates agreed to be appropriate at last month's
meeting of the Group of Five and Canada in Paris.
    The dollar was being quoted at 6.0950/70 francs in early
afternoon dealings after a fix of 6.09425 francs.
    The major French bank said it sold yen at a rate of 149.28
against the dollar.
    The U.S. Currency was subsequently being quoted at
149.25/35.
    The Bank of Japan was reported in the market overnight to
bolster the credibility of the Paris accord following several
days of pressure against the dollar.
    Pressure developed after U.S. Treasury Secretary James
Baker repeated earlier statements that the Reagan
administration had no targets for the dollar, apparently
undermining the assumption that the agreement in Paris had
fixed broad fluctuation ranges for major currencies.
    Baker later said his remark had been misinterpreted.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15393" NEWID="9872">
<DATE>26-MAR-1987 09:52:15.98</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;f1039&#31;reute
b f BC-STANDARD-&lt;SRD>-REFERR   03-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD &lt;SRD> REFERRING BP &lt;BP> BID TO GROUP</TITLE>
<DATELINE>    CLEVELAND, March 26 - </DATELINE><BODY>Standard Oil Co said British
Petroleum Co Plc's proposed offer of 70 dlrs a share for the 45
pct of Standard's stock not held by BP is being referred to a
special committee of the company's board.
    This committee, which is composed of the independent,
non-exective directors of the company, was formed in April 1986
for the purpose of monitoring the relationship between Standard
Oil and BP.
    Standard said the group will consider BP's offer in due
course noting the committee has retained the First Boston Corp
and Cravath Swaine and Moore as advisers.               
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15394" NEWID="9873">
<DATE>26-MAR-1987 09:52:24.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mexico</D><D>chile</D><D>venezuela</D><D>philippines</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1040&#31;reute
u f BC-MULFORD-SEES-MORE-BAN   03-26 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>MULFORD SEES MORE BANK LOANS TO DEBTORS IN 1987</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>U.S. Treasury Assistant Secretary
David Mulford said he foresaw substantial net new commercial
loans to the major debtor countries in 1987.
    In testimony before a Senate banking subcommittee, Mulford
said he based this prediction on progress in talks between
banks and Mexico, Chile, and Venezuela, as well as progress in
negotiations with the Philippines.
    "These agreements, together with others for Argentina and
we hope Brazil," should assure substantial new loans this year,
Mulford said.
    Mulford defended the U.S. strategy for handling the debt
crisis and added additional steps, like development by
commercial banks of a menu of options to support debtor reform,
can be undertaken.
    That particular development would maintain broad bank
participation in new financing packages to debtors.
    Mulford stessed that greater flexibility in devising new
money packages may be essential for future bank syndications.
    "The commercial banks have much to gain from taking the
lead themselves to develop the kinds of ideas that help assure
the concerted lending process works," he said.
    In particular, Mulford said banks and debtor nations will
increasingly move toward repricing, retiming or rescheduling
agreements as an alternative to new loans.
    "The benefits of such approaches may be substantial and
may, in the right circumstances, be easier to achieve than new
money packages," he said.
    But for debtors with substantial financing needs, new
lending will still be necessary, he said.
    Mulford rejected congressional ideas for a debt facility as
being far too costly to creditor governments, and ultimately
taxpayers.
    Mulford urged further development of debt-equity swaps as
well as broader mutual funds for conversion into equity.
    As in the past, Mulford said progress must be founded on
economic reforms and sufficient new financing for debtors both
to support those reforms and generate new growth.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15395" NEWID="9874">
<DATE>26-MAR-1987 09:53:48.99</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;f1047&#31;reute
u f BC-ANCHOR-GLASS-&lt;AGLS>-N   03-26 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>ANCHOR GLASS &lt;AGLS> NOW SEES HIGHER 1ST QTR NET</TITLE>
<DATELINE>    TAMPA, Fla., March 26 - </DATELINE><BODY>Anchor Glass Container Corp said
first quarter net income is now expected to exceed the 3.1 mln
dlrs earned before extraordinary items in the year earlier
quarter.
    Previously, the company had said first quarter results
would likely be lower than for the 1986 period due to
production disruptions caused by the large number of production
line changes scheduled during the first quarter, its statement
pointed out.
    While the disruptive effects of the production line changes
had occurred in line with expectations, Anchor Glass said,
first quarter operating results were helped by lower than
anticipated operating costs and improved margins on sales as a
result of a more favorable product mix.
    The company said its income performance for the full year
remains very good.
    It also said Anchor Hocking Corp &lt;ARH> has converted the
entire principal balance of its Anchor Glass convertible
subordinated note to 576,694 Anchor Glass common shares.
    Anchor Glass said the conversion decreased its total debt
and increased stockholders' equity by about 9.4 mln dlrs and
increased common shares outstanding to 13,902,716.
    It said the conversion will also reduce its annualized net
interest expense by about 1.1 mln dlrs, or 600,000 dlrs after
taxes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15396" NEWID="9875">
<DATE>26-MAR-1987 09:54:28.00</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1050&#31;reute
r f BC-MACNEAL-SCHWENDLER-CO   03-26 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>MACNEAL-SCHWENDLER CORP &lt;MNS> RAISES PAYOUT</TITLE>
<DATELINE>    LOS ANGELES, March 26 -
    </DATELINE><BODY>Qtly div five cts vs 2-1/2 cts prior
    Pay June 10
    Record May 29
    NOTE: Prior payment adjusted for two-for-one stock split
declared recently.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15397" NEWID="9876">
<DATE>26-MAR-1987 09:56:11.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1058&#31;reute
r f BC-VISHAY-&lt;VSH>-COMPLETE   03-26 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>VISHAY &lt;VSH> COMPLETES EXCHANGE OFFER</TITLE>
<DATELINE>    MALVERN, Pa., March 26 - </DATELINE><BODY>Vishay Intertechnology Inc said it
has received a total of 2,362,616 common shares in response to
its offer to exchange Class B shares for common shares, and all
common shares received were accepted.
    Vishay said about 737,500 shares were tendered by chairman
Alfred Slaner and 1,164,607 by president Felix Zandman, with
other executives tendering another 223,387 shares.
    Vishay said it now has 4,675,435 common shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15398" NEWID="9877">
<DATE>26-MAR-1987 09:56:19.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1059&#31;reute
b f BC-CREDIT-LYONNAIS-UNIT   03-26 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>CREDIT LYONNAIS UNIT HAS AUSTRALIAN DOLLAR BOND</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Credit Lyonnais Australia is issuing a
40 mln Australian dlr eurobond paying 14-1/2 pct and priced at
101-1/8 pct, lead manager Hambros Bank Ltd said.
    The bond is due April 24, 1990 and is guaranteed by Credit
Lyonnais. It will be available in denominations of 1,000 dlrs
and will listed in Luxembourg.
    Fees comprise one pct selling concession with 1/2 pct
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15399" NEWID="9878">
<DATE>26-MAR-1987 09:56:34.70</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1061&#31;reute
s f BC-VIACOM-INTERNATIONAL   03-26 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>VIACOM INTERNATIONAL INC &lt;VIA> SETS QUARTERLY</TITLE>
<DATELINE>    NEW YORK, March 26 -
    </DATELINE><BODY>Qtly div seven cts vs seven cts prior
    Pay May Eight
    Record April 17
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15400" NEWID="9879">
<DATE>26-MAR-1987 09:56:55.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1063&#31;reute
b f BC-WALT-DISNEY-ISSUES-60   03-26 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>WALT DISNEY ISSUES 60 MLN AUS DLR EUROBOND</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Walt Disney Co Ltd is issuing a 60 mln
Australian dlr eurobond due May 7, 1990 with a 14-1/2 pct
coupon and priced at 101-3/8 pct, Warburg Securities said as
lead manager.
    The non-callable bonds will be issued in denominations of
1,000 Australian dlrs and will be listed in Luxembourg.
    Gross fees of 1-1/2 pct comprise one pct for selling and
1/2 pct for management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15401" NEWID="9880">
<DATE>26-MAR-1987 10:05:51.72</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1065&#31;reute
b f BC-U.K.-MONEY-MARKET-GET   03-26 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GETS 25 MLN STG LATE HELP</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The Bank of England said it provided
about 25 mln stg in late help to the money market, bringing the
total assistance today to 266 mln stg.
    This compares with the bank's revised estimate of a 350 mln
stg money market shortfall.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15402" NEWID="9881">
<DATE>26-MAR-1987 10:12:28.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1103&#31;reute
u f BC-IOMEGA-&lt;IOMG>-IN-SUPP   03-26 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>IOMEGA &lt;IOMG> IN SUPPLY AGREEMENT</TITLE>
<DATELINE>    ROY, Utah, March 26 - </DATELINE><BODY>Iomega Corp said it has signed a
four-year agreement to supply Beta-20 disk drives with
removable cartridges to &lt;Leading Edge Hardware Products Inc>.
    Value was not disclosed.
    The company said shipments will stgart in the second
quarter of 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15403" NEWID="9882">
<DATE>26-MAR-1987 10:12:58.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>chad</D><D>libya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1107&#31;reute
u f AM-CHAD   03-26 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBYA ABANDONS CHAD STRONGHOLD AFTER DEFEATS</TITLE>
<DATELINE>    PARIS, March 26 -  </DATELINE><BODY>Libyan troops are hastily evacuating
their last important stronghold in northern Chad, leaving the
key desert oasis undefended against advancing Chad government
troops, military and diplomatic sources said.
    They said a Libyan force of some 3,000 men was abandoning
the oasis of Faya-Largeau but added that severe sand storms
across Chad could be delaying the pull out and an expected
government strike on the town.
    Swirling clouds of sand, which have closed the capital of
N'Djamena to commercial flights for two days, have sharply
reduced visibility and made it difficult to determine the exact
situation around Faya, French military officials said.
    The hurried Libyan evacuation, which started yesterday
morning, follows the capture on Sunday of Libya's best-defended
and vitally important air base at Ouadi Doum, 145 kms (90
miles) northeast of Faya.
    The fall of Ouadi Doum, which Chad said cost 1,269 Libyan
lives, deprived Libya of its only hard surface runway in Chad
capable of taking Soviet-made bombers and transport planes and
left Faya-Largeau isolated and encircled by government troops.
    Libyan forces are reported to have blown up stocks of fuel
and ammunition on Tuesday night before starting to flee
northwards towards the Tibesti mountain region, which adjoins
Libya's southern border.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15404" NEWID="9883">
<DATE>26-MAR-1987 10:13:54.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1115&#31;reute
u f BC-roy-f.-weston-&lt;westna   03-26 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>ROY F. WESTON &lt;WSTNA> DISTRIBUTING STATEMENT</TITLE>
<DATELINE>    WEST CHESTER, Pa., March 26 - </DATELINE><BODY>Roy F. Weston Inc expects to
distribute a statement shortly, a spokesman said.
    NASDAQ has halted trading in the stock until the
announcement is distributed, saying it last traded at 20-3/4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15405" NEWID="9884">
<DATE>26-MAR-1987 10:16:28.68</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;f1135&#31;reute
r f BC-PHLCORP-&lt;PHX>-HAS-BRE   03-26 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>PHLCORP &lt;PHX> HAS BREAKEVEN RESULTS</TITLE>
<DATELINE>    PHILADELPHIA, March 26 - </DATELINE><BODY>PHLCORP Inc said for November 14
through December 31, its first reporting period after emerging
from reorganization proceedings, it earned 86,000 dlrs on
revenues of 47 mln dlrs, excluding 2,300,000 dlrs in gains on
the sale of real estate and 800,000 dlrs in tax credits.
    The company is the successor to Baldwin-United Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15406" NEWID="9885">
<DATE>26-MAR-1987 10:16:34.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1136&#31;reute
r f BC-&lt;MARSAM-PHARMACEUTICA   03-26 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;MARSAM PHARMACEUTICALS INC> IN INITIAL OFFERING</TITLE>
<DATELINE>    CHERRY HILL, N.J., March 26 - </DATELINE><BODY>Marsam Pharmaceuticals Inc
said an initial public offering of 800,000 common shares is
underway at 15 dlrs per share through sole underwriter &lt;Smith
Barney, Harris Upham and Co>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15407" NEWID="9886">
<DATE>26-MAR-1987 10:17:20.06</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;f1141&#31;reute
u f BC-STONE-CONTAINER-&lt;STO>   03-26 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>STONE CONTAINER &lt;STO> TO REDEEM DEBT</TITLE>
<DATELINE>    CHICAGO, March 26 - </DATELINE><BODY>Stone Container Corp said it has
elected to redeem 200 mln dlrs of convertible debt.
    The paperboard and packaging producer said the debt
consists of the entire outstanding principal amount of its
6-3/4 pct convertible subordinated debentures due April 15,
2011, and all of its outstanding series C cumulative
convertible exchangeable preferred shares, both issued in the
principal amount of 100 mln dlrs each.
    Stone said April 10 is the redemption date for the
convertible debentures and April 27 is the redemption date for
the series C preferred.
    Stone Container said the convertible debentures' redemption
price is 1067.50 dlrs plus accrued interest of 32.81 dlrs for a
total of 1100.31 dlrs for each 1,000 dlrs prinicipal amount of
the debentures. Interest on the debentures will stop accruing
on and after its redemption date, the company said.
    Stone Container added that the series C preferred's
redemption price is 53.15 dlrs plus accrued and unpaid
dividends of 12 cts for a total of 53.27 dlrs a share.
Dividends on the shares will stop accruing on and after their
redemption date as well, Stone Container said.
    Stone Container said shareholders also have the right to
convert any or all of the debt into common shares at the
conversion price of 56 dlrs a common share, or about 17.857
shares for each 1,000 dlrs of debentures ,and .893 shares for
each series C share.
    The company said the conversion right will terminate after
1700 EST April 9 for the debentures and 1700 EST April 13 for
the series C.
    Stone said that those electing to convert their holdings to
common shares, becoming holders of record by May 22, will be
entitled to the 20 cts per share quarterly cash dividend
payable June 12, as well as the additional shares from the
previously announced two-for-one stock split to be issued on
June 12.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15408" NEWID="9887">
<DATE>26-MAR-1987 10:17:33.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1142&#31;reute
b f BC-FARM-CREDIT-SYSTEM-RE   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM CREDIT SYSTEM REQUESTS U.S. CREDIT LINE</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>The financially-troubled Farm Credit
System today formally asked that the Treasury Department
provide a line of credit to the system and that Congress take
steps to guarantee stock held by borrowers.
    In testimony prepared for delivery to a Senate agriculture
subcommittee hearing, Brent Beesley, president of the Farm
Credit Corp, said "In order to avoid the need for continued
appropriations, the Farm Credit System Capital Corp should have
a line of credit from the Treasury."
    Beesley said in April the system would recommend a dollar
amount of aid needed.
    In addition, Beesley urged Congress to immediately take
steps to reassure borrowers from the system that their stock is
secure.
    We urged the Congress to go on record through a resolution
stating its commitment to protect the stock," Beesley said.
    Borrowers from the system own some four billion dlrs in
stock that could be jeopardized by the mounting losses of the
Farm Credit System.
    Beesley also said that if Congress takes action to reduce
interest rates offered to farmers to below-market levels, "The
government should provide this interest rate relief.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15409" NEWID="9888">
<DATE>26-MAR-1987 10:19:23.22</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;f1153&#31;reute
r f BC-OAKWOOD-HOMES-&lt;OH>-SE   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>OAKWOOD HOMES &lt;OH> SELLS CONVERTIBLE DEBENTURES</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Oakwood Homes Corp is raising 25 mln
dlrs via an offering of convertible subordinated debentures due
2012 with a 6-1/2 pct coupon and par pricing, said lead manager
Donaldson, Lufkin and Jenrette Securities Corp.
    The debentures are convertible into the company's common
stock at 21.25 dlrs per share, representing a premium of 23.19
pct over the stock price when terms on the debt were set.
    Non-callable for three years, the issue is rated B-2 by
Moody's Investors and B by Standard and Poor's. J.C. Bradford
and Legg Mason co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15410" NEWID="9889">
<DATE>26-MAR-1987 10:20:12.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E RM
&#22;&#22;&#1;f1158&#31;reute
r f BC-emco-sets-75-mln-dlr   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>EMCO SETS 75 MLN DLR DEBENTURE OFFERING</TITLE>
<DATELINE>    TORONTO, March 26 - </DATELINE><BODY>&lt;Emco Ltd> said the board approved a
public offering of 75.0 mln dlrs principal amount of 7-1/4 pct
convertible subordinated debentures, maturing April 30, 2002,
subject to regulatory approvals.
    The debentures will be convertible into common shares at
any time up to April 30, 1992 at a price of 17.50 dlrs a share,
and then up to April 30, 1997 at 18.50 dlrs a share.
    Masco Corp &lt;MAS>, holding 44 pct of Emco, has agreed to
purchase 33.0 mln dlrs of the debentures. Underwriters are
Gordon Capital Corp, Midland Doherty Ltd, Merrill Lynch Canada
Inc and Levesque Beaubien Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15411" NEWID="9890">
<DATE>26-MAR-1987 10:20:21.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1160&#31;reute
r f BC-FISCHER-WATT-TO-SELL   03-26 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>FISCHER-WATT TO SELL CONVERTIBLE PREFERRED</TITLE>
<DATELINE>    RENO, Nev., March 26 - </DATELINE><BODY>&lt;Fischer-Watt Gold Co Inc> said it
intends to raise about five mln dlrs from the private sale of
convertible preferred stock.
    The company said based on successful completion of the
placement, proceeds of which will be used to expand gold and
silver recovery, it hopes to produce 14,000 ounces of gold and
210,000 ounces of silver this year, up from 2,500 and 15,000
respectively last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15412" NEWID="9891">
<DATE>26-MAR-1987 10:21:06.59</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1167&#31;reute
d f BC-FOOTE-MINERAL-TO-MERG   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FOOTE MINERAL TO MERGE INTO RIO TINTO</TITLE>
<DATELINE>    EXTON, Pa., March 26 - </DATELINE><BODY>Foote Mineral Co said it signed a
letter of intent to merge into Rio Tinto-Zinc Corp PLC for
cash.
    Foote, 83 pct owned by Newmont Mining Corp, said Newmont
has informally indicated it would vote in favor of the Rio
Tinto proposal.
    Foote said terms of the agreement, including price for the
proposed cash transaction, have not been released because they
are subject to a continuing due diligence investigation.
    The company said a definitive merger agreement is expected
to be negotiated within six weeks and shareholders are expected
to vote on the deal at a meeting expected to be held in June or
July.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15413" NEWID="9892">
<DATE>26-MAR-1987 10:21:14.61</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1168&#31;reute
u f BC-ALUMINIUM-SCRAP-RECOV   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUMINIUM SCRAP RECOVERY AND USAGE TO RISE</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Aluminium scrap recovery and usage and
output of secondary metal will continue to rise, said Shearson
Lehman Brothers in a review of the secondary aluminium market
which details cost and demand factors.
    Although primary smelting costs have declined generally in
recent years, the still substantial energy cost savings offered
by secondary smelters will continue to make re-melted material
increasingly attractive.
    It takes around 15,000 kilowatt hours (kwh) of electricity
to produce one tonne of primary aluminium compared with around
550 kwh for one tonne of secondary metal, Shearson said.
    On the demand side, developments in automobiles and
packaging bode well for secondary aluminium consumption.
    Automobile production, although expected to fall this year,
is still on an upward trend and will continue to be so for the
foreseeable future and, in addition, use of aluminium castings
is gaining wider acceptance in the automobile industry,
particularly in the U.S.
    In packaging, Shearson does not expect aluminium to
dominate the beverage can market in any of the other major
economies to the extent it does in the U.S., But says there is
evidence recycling is on the increase in other countries.
    In addition to the cost savings involved, technology
advances now enable alloys of higher purity to be produced by
the secondary aluminium industry, Shearson said.
    There is not likely to be a problem of availability as the
U.S. Has a huge scrap reservoir and this is also true of
several European countries, albeit on a smaller scale.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15414" NEWID="9893">
<DATE>26-MAR-1987 10:21:32.48</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;f1171&#31;reute
d f BC-CROSS-AND-TRECKER-&lt;CT   03-26 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CROSS AND TRECKER &lt;CTCO> BUYS AUTOMATION UNIT</TITLE>
<DATELINE>    BLOOMFIELD, MICH., March 26 - </DATELINE><BODY>Cross and Trecker said it
agreed to acquire the Alliance Automation Systems division of
Gleason Corp &lt;GLE> for an undisclosed amount of cash.
    It said the Gleason division manufactures automated
assembly and test systems used in the production of small to
medium size components for a number of industries, including
automotive, electronic and appliance.
    Alliance Automation had 1986 sales of about 35 mln dlrs and
employs 200.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15415" NEWID="9894">
<DATE>26-MAR-1987 10:21:38.88</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1172&#31;reute
d f BC-SALANT-CORP-&lt;SLT>-1ST   03-26 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>SALANT CORP &lt;SLT> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    NEW YORK, March 26 -
    </DATELINE><BODY>Oper shr profit seven cts vs loss 12 cts
    Oper net profit 216,000 vs loss 401,000
    Sales 21.4 mln vs 24.9 mln
    NOTE: Current year net excludes 142,000 dlr tax credit.
    Company operating in Chapter 11 bankruptcy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15416" NEWID="9895">
<DATE>26-MAR-1987 10:22:40.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1180&#31;reute
d f BC-CRAY-&lt;CYR>-INSTALLS-2   03-26 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>CRAY &lt;CYR> INSTALLS 22 MLN DLR COMPUTER</TITLE>
<DATELINE>    MINNEAPOLIS, March 26 - </DATELINE><BODY>Cray Research Inc said Los Alamos
National Laboratory in Los Alamos, N.M. installed a Cray
X-MP/416 supercomputer valued at about 22 mln dlrs.
    It said the system was installed in the fourth quarter of
1986 as a lease and converted to a purchase in the first
quarter of 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15417" NEWID="9896">
<DATE>26-MAR-1987 10:22:50.53</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1181&#31;reute
d f BC-HEALTHMATE-INC-&lt;HMTE>   03-26 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTHMATE INC &lt;HMTE> 4TH QTR LOSS</TITLE>
<DATELINE>    NORTHBROOK, ILL., March 26 -
    </DATELINE><BODY>Shr loss five cts vs loss six cts
    Net loss 473,784 vs loss 489,257
    Revs 268.8 mln vs 81.7 mln
    Avg shrs 9,245,247 vs 8,035,326
    Year
    Shr loss 17 cts vs loss 20 cts
    Net 1,512,534 vs loss 1,553,592
    Revs 1,448,310 vs 515,225
    Avg shrs 8,745,132 vs 7,619,863
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15418" NEWID="9897">
<DATE>26-MAR-1987 10:23:40.98</DATE>
<TOPICS><D>trade</D><D>jobs</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>keating</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1186&#31;reute
h f BC-KEATING-REVISES-DOWN   03-26 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>KEATING REVISES DOWN AUSTRALIAN GROWTH FORECAST</TITLE>
<DATELINE>    CANBERRA, March 26 - </DATELINE><BODY>Treasurer Paul Keating forecast
economic growth at slightly under two pct in the financial year
ending June this year, down from the 2.25 pct forecast
contained in the 1986/87 budget delivered last August.
    Australia's terms of trade also fell, by 18 pct, over the
past two years, he told Parliament. Terms of trade are the
difference between import and export price indexes.
    Despite the figures, the budget forecast of about 1.75 pct
annual growth in employment would be met, Keating said.
    Unemployment is currently at 8.2 pct of the workforce.
    "This government is dragging Australia through a trading
holocaust the kind of which we have not seen since the Second
World War," Keating said.
    "We are not pushing this place into a recession. We are not
only holding our gains on unemployment, we are bringing
unemployment down," he said, adding that the government had help
the country avoid recession.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15419" NEWID="9898">
<DATE>26-MAR-1987 10:24:33.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1194&#31;reute
r f BC-VICON-INDUSTRIES-&lt;VII   03-26 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>VICON INDUSTRIES &lt;VII> VOTES STAGGERED BOARD</TITLE>
<DATELINE>    MELVILLE, N.Y., March 26 - </DATELINE><BODY>Vicon Industries Inc said its
shareholders approved an amendment to divide its nine-member
board into three classes with staggered tenures.
    It also said shareholders expanded the indemnification
rights of the company's directors and officers.
    Both actions were taken at the company's annual
shareholders meeting, Vicon said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15420" NEWID="9899">
<DATE>26-MAR-1987 10:25:02.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>pse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1197&#31;reute
u f BC-FRENCH-STOCK-BILL-TO   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH STOCK BILL TO BE PRESENTED BEFORE JUNE</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The French government will present to
parliament a major bill within two months to overhaul the Paris
stock market, economics and finance minister Edouard Balladur
said.
    Balladur told an Economist conference that on the product
side, a series of new contracts, including share options and
forward contracts in European Currency Units (ECUs), would be
introduced shortly for trading on the Paris bourse.
    The scope of the new bill, however, was to transform the
organisation of equity trading, allowing participants both to
perform a banking role and to trade in equities, he said.
    "Currently, the French market is based on the Napoleonic
principle of separation of equity trading and banking. This
principle has become a dividing, and therefore a weakening,
factor for the market," Balladur said.
    He said under the planned new rules, stock brokers,
currently very specialised and undercapitalised, would be free
to link up with powerful financial institutions after a
five-year transition period.
    Stock brokerages would be subject to legislation similar to
that in the U.K. And U.S., He said, adding the Paris market
would actively attempt to attract foreign securities houses.
    Balladur said the French securities market had enjoyed
strong growth in the past 10 years, with new share and bond
issues totalling 430 billion French francs in 1986, compared
with 53 billion in 1976.
    New share issues alone totalled 63 billion francs in 1986,
up 230 pct from the 1985 level of 19 billion francs, he said.
    Total market capitalisation stood at 3,200 billion francs
at end-1986, compared with 400 billion 10 years earlier, while
stock and bond trades were valued at 2,200 billion francs last
year against 56 billion in 1976, he said.
    Balladur, who also had private talks with U.K. Prime
Minister Margaret Thatcher and Chancellor of the Exchequer
Nigel Lawson, said his government was also preparing a bill to
liberalise the French insurance sector.
    Under the proposed rules, an independent regulatory
insurance commission will be set up. The commission will be
endowed with powers similar to those of a body set up earlier
to monitor the banking sector, Balladur said.
    He said the new bill would also aim to adapt insurance
regulation to take account of the ever-closer integration of
all areas of finance.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15421" NEWID="9900">
<DATE>26-MAR-1987 10:25:11.20</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;f1198&#31;reute
u f BC-GERMAN-TAX-CUT-BILL-T   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN TAX CUT BILL TO GO BEFORE CABINET APRIL 1</TITLE>
<DATELINE>    BONN, March 26 - </DATELINE><BODY>The West German Finance Ministry said the
cabinet will discuss a bill on Wednesday to increase tax cuts
by an extra 5.2 billion marks next year to a total of 13.7
billion marks.
    The additional tax cuts were agreed within the government
coalition in early March after Finance Minister Gerhard
Stoltenberg pledged at the six-nation monetary conference in
Paris in February to increase the size of the 1988 tax cuts.
    The bill will be presented in parliament at a later,
unspecified date after the cabinet's deliberations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15422" NEWID="9901">
<DATE>26-MAR-1987 10:25:44.41</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;f1203&#31;reute
s f BC-NATIONAL-BANC-OF-COMM   03-26 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL BANC OF COMMERCE CO &lt;NBCC> SETS PAYOUT</TITLE>
<DATELINE>    CHARLESTON, W.Va., March 26 -
    </DATELINE><BODY>Qtly div 14 cts vs 14 cts prior
    Pay April Eight
    Record March 26
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15423" NEWID="9902">
<DATE>26-MAR-1987 10:26:10.93</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1207&#31;reute
s f BC-HARSCO-CORP-&lt;HSC>-SET   03-26 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>HARSCO CORP &lt;HSC> SETS REGULAR PAYOUT</TITLE>
<DATELINE>    CAMP HILL, Pa., March 26 -
    </DATELINE><BODY>Qtrly div 25 cts vs 25 cts
    Pay May 15
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15424" NEWID="9903">
<DATE>26-MAR-1987 10:27:12.33</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>madagascar</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1210&#31;reute
d f BC-MADAGASCAR-COCOA-PROD   03-26 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MADAGASCAR COCOA PRODUCTION ESTIMATED HIGHER</TITLE>
<DATELINE>    ANTANANARIVO, March 26 - </DATELINE><BODY>Madagascar's cocoa production is
estimated 13 pct higher this year at 2,720 tonnes, up from
2,400 in 1986, Agriculture Ministry officials said.
    This improvement reflects the government's efforts over the
last seven years to extend existing cocoa plantations and plant
new higher yielding varieties, particularly at the northern tip
of the island, they said.
    Last year, Madagascar exported 2,189 tonnes of high quality
cocoa, up from 1,624 in 1985, the Trade Ministry said.
    This year's exports are estimated at 2,400 tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15425" NEWID="9904">
<DATE>26-MAR-1987 10:27:58.12</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;f1216&#31;reute
u f BC-COMPUTER-ASSOCIATES-&lt;   03-26 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER ASSOCIATES &lt;CA> SETS TWO FOR ONE SPLIT</TITLE>
<DATELINE>    GARDEN CITY, N.Y., March 26 - </DATELINE><BODY>Computer Associates
International Inc said its board has declared a two-for-one
stock split, payable May Seven, record April Seven.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15426" NEWID="9905">
<DATE>26-MAR-1987 10:28:22.93</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;f1217&#31;reute
u f BC-SWISS-NET-CAPITAL-EXP   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS NET CAPITAL EXPORTS RISE IN 1986</TITLE>
<DATELINE>    ZURICH, March 26 - </DATELINE><BODY>Increased activity by Switzerland's
banks pushed net capital exports to a provisional 11.7 billion
francs last year from 10.0 billion in 1985, the National Bank
said in a pre-publication copy of its annual report.
    It also said the current account surplus of the Swiss
balance of payments reached a provisional 13.5 billion francs
last year, from 12.8 billion in 1985.
    The National Bank's currency reserves rose by 1.8 billion
francs, against a 2.8 billion rise in 1985. However, taking
into accounts effects of the shift in exchange rates, reserves
actually fell in value by 1.9 billion.
    The banks' net capital exports climbed to 5.4 billion
francs, from 5.1 billion in 1985, while capital exports by
domestic non-banks fell to 5.0 billion from 9.1 billion.
    The National Bank gave the following figures (1985 in
brackets)
    Current Account +13.5 billion (+12.8 in 1985), made up of:
    Goods                     -7.1 (-8.7)
    Services                  +10.1 (+9.8)
    Factor Income             +12.5 (+13.7)
    Transfers                 -2.0 (-2.0)
 Capital Account -11.7 billion (-10.0 in 1985) made up of
    Direct Investment                          N/A  (-6.3)
    Portfolio Investment                       N/A  (-2.8)
    Capital Traffic of Banks                  -10.4 (-14.2)
    Other Capital Traffic Included             N/A  (+5.6)
    Traffic not Included and Statistical Error N/A  (+7.7)
    Change in Currency Reserves of the National Bank +1.8
(+2.8)
    Interest Income on Foreign Currency        +2.4 (+3.4)
    Foreign Currency Transactions              -0.6 (-0.6)
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15427" NEWID="9906">
<DATE>26-MAR-1987 10:32:06.33</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1229&#31;reute
u f BC-/ST-LAWRENCE-SEAWAY-O   03-26 0137</UNKNOWN>
<TEXT>&#2;
<TITLE>ST LAWRENCE SEAWAY OPENING STILL MARCH 31</TITLE>
<DATELINE>    CHICAGO, March 26 - </DATELINE><BODY>The St Lawrence Seaway between Lake
Ontario and Montreal is still scheduled to open for the
shipping season on March 31, a Seaway official said.
    The Great Lakes could have been open for traffic earlier
this month due to the mild Winter, but scheduled repairs to the
Welland Canal joining Lake Erie with Lake Ontario will keep
that section closed until the April 1 opening, she said.
    One lock system in the four-lock Soo Canal joining Lake
Superior with Huron was opened on the morning of March 22, but
only three commercial vessels have been locked through so far,
according to an U.S. Army Corps of Engineers official.
    The Soo Canal is currently only open for daylight vessel
movement, with 24 hour movement allowed beginning March 29, she
added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15428" NEWID="9907">
<DATE>26-MAR-1987 10:35:36.35</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f1251&#31;reute
u f BC-DUTCH-GRAIN-LEVY-TEST   03-26 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH GRAIN LEVY TEST CASE TO START IN APRIL</TITLE>
<DATELINE>    ROTTERDAM, March 26 - </DATELINE><BODY>A large Dutch animal feed compounder
will begin formal legal proceedings early next month as a test
case on the way the EC grain co-responsibility levy is applied,
a spokesman for Dutch grain and feed trade association, Het
Comite, told Reuters.
    Het Comite has been co-ordinating national actions against
alleged distortions caused by currency factors in the levy and,
since December, has lodged more than 80 individual cases with
the Business Appeal Court in The Hague.
    The basic complaint is that the levy does not take account
of currency cross-rates of exchange and therefore compounders
in countries with strong currencies may have to pay more in
their own currency than is paid to them by producers in another
country.
    Het Comite has obtained a temporary agreement that
companies can pay the amount they receive toward the levy
rather than paying a full guilder amount to the Dutch grain
commodity board.
    The spokesman said Het Comite will provide financial and
legal backing to the test case in the Business Administration
Court in the Hague. Oral proceedings are to begin on April 10.
    The spokesman said Het Comite finally selected the company
for the test case from among the 80 lodged "because the bill
(the firm) received from the commodity board for payment of the
levy contained significant currency distortions and involved
grain from a wide variety of origins." The name of the company
is not being made public.
    The Administration Court is not expected to make a final
ruling on the case in the near future. The Het Comite spokesman
said it was very likely it would refer questions to the Appeal
Court in Luxembourg, and "as a result it could easily be another
nine to 12 months before the matter is finally resolved."
    Meanwhile, the actions by Dutch animal feed compounders are
putting pressure on the commodity board to urge the Dutch
government to follow through on earlier statements and seek a
complete review in Brussels of the way in which the levy is
collected, the spokesman said.
    Het Comite, as a member of FEFAC, the association of
European animal feed manufacturers, is also a party to actions
protesting the whole levy in the Luxembourg appeal court.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15429" NEWID="9908">
<DATE>26-MAR-1987 10:36:32.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>turkey</D><D>libya</D><D>morocco</D><D>jordan</D><D>yemen-arab-republic</D><D>yemen-demo-republic</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1257&#31;reute
u f BC-IDB-APPROVES-TRADE,-P   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>IDB APPROVES TRADE, PROJECT LOANS TO MEMBERS</TITLE>
<DATELINE>    ISTANBUL, March 26 - </DATELINE><BODY>The Executive Directors of the Islamic
Development Bank (IDB) approved a total of 115 mln dlrs of
trade and project financing loans to its member countries in
the first two days of its meetings here, a bank statement said.
    Two Turkish iron and steel companies were lent a total of
14.5 mln dlrs for modernisation projects to be paid over 10
years with a two-year grace period.
    Libya is to receive 8.9 mln dlrs for a plant to produce
concrete blocks, North Yemen 5.5 mln dlrs for roads and
Maldives 1.8 mln dlrs for school construction.
    The board approved a 4.2 mln dlrs loan to Benin for the
construction of the Cotonou port, to be repaid in 25 years with
a five year grace period, the statement said.
    The directors also approved 15 mln dlrs of loans each for
Turkey, Morocco and Jordan, 16 mln dlrs for Algeria, 10 mln
dlrs for South Yemen, six mln dlrs for Tunisia and 3.1 mln dlrs
for Malaysia to finance the import of commodities including
crude oil, petroleum products and basic computer components.
    The directors are expected to end their meetings later
today and the IBD Governors will start a two-day annual meeting
in Istanbul on Saturday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15430" NEWID="9909">
<DATE>26-MAR-1987 10:39:43.80</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1277&#31;reute
r f BC-Z-SEVEN-FUND-SEES-HIG   03-26 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>Z-SEVEN FUND SEES HIGHER 1987 NET</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>&lt;Z-Seven Fund Inc> said it expects to
earn six dlrs a share in 1987, up from 4.20 dlrs a share in
1986.
    The company said the 1986 net earnings were up 30 pct from
3.22 dlrs in 1985. Net asset value in 1986 rose 35 pct to 16.09
dlrs a share from 11.89 a year earlier, adjusted for a
three-for-two stock split.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15431" NEWID="9910">
<DATE>26-MAR-1987 10:39:57.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>uk</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>pse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1279&#31;reute
h f BC-FRENCH-STOCK-BILL-TO   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH STOCK BILL TO BE PRESENTED BEFORE JUNE</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>The French government will present to
parliament a major bill within two months to overhaul the Paris
stock market, economics and finance minister Edouard Balladur
said.
    Balladur told an Economist conference that on the product
side, a series of new contracts, including share options and
forward contracts in European Currency Units (ECUs), would be
introduced shortly for trading on the Paris bourse.
    The scope of the new bill, however, was to transform the
organisation of equity trading, allowing participants both to
perform a banking role and to trade in equities, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15432" NEWID="9911">
<DATE>26-MAR-1987 10:44:55.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1296&#31;reute
u f BC-JAGUAR-OFFERS-NEW-LUX   03-26 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>JAGUAR OFFERS NEW LUXURY SEDAN</TITLE>
<DATELINE>    DETROIT, March 26 - </DATELINE><BODY>Jaguar Cars Inc, a subsidiary of Jaguar
PLC, said it introduced its new 1988 XJ6 luxury sedan to
replace its Series III XJ6 sedan.
    The 40,500-dlr car will be available in showrooms starting
May four, the company said.
    Many parts of the XJ6 and the 44,500 dlr Vanden Plas have
been changed, adding high-tech features. The car has seven
micro-processors that control its major electrical functions.
The in-car computer offers a wide array of trip information.
    The Vanden Plas offers more features than the basic XJ6.
    Jaguar said it has a "substantial waiting list" for the
cars in Europe, where it was introduced last October.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15433" NEWID="9912">
<DATE>26-MAR-1987 10:45:04.71</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1297&#31;reute
d f BC-SPAIN'S-EMP-PLANS-MTB   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>SPANISH REFINER PLANS GASOLINE ADDITIVE PLANT</TITLE>
<DATELINE>    MADRID, March 26 - </DATELINE><BODY>Spain's state refiner Empresa Nacional
de Petroleo S.A. (EMP) plans to build its second unit for
production of methyl tertiary butyl ether (MTBE), a gasoline
additive replacing lead, company sources said.
    The Coruna-based plant, with an annual capacity of 27,000
tonnes, and a 55,000-tonnes-per-year facility that EMP will
start up in Tarragona next year, will make the state refiner
Spain's biggest producer of MTBE.
    Petroleos del Norte S.A. (Petronor) runs a 45,000 tonne a
year plant in Bilbao and Cia Espanola de Petroleos S.A. (Cepsa)
plans to put a similar unit onstream next year in Algeciras.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15434" NEWID="9913">
<DATE>26-MAR-1987 10:45:29.24</DATE>
<TOPICS><D>acq</D><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1298&#31;reute
u f BC-WALL-STREET-STOCKS/U.   03-26 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>WALL STREET STOCKS/U.S. OIL COMPANIES</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>British Petroleum Co PLC's
announcement that its U.S. subsidiary intends to tender for the
45 pct of Standard Oil Co &lt;SRD> it does not already own,
catapulted U.S. oil stocks sharply higher this morning, traders
and analysts said.
    "It raises the specter of additional consolidation in the
industry and that is what is boosting the other oils," analyst
Rosario Ilacqua of L.F. Rothschild said.
    Sanford Margoshes of Shearson Lehman Brothers said "this
deal shows that British Petroleum, a conservative investor that
knows the oil business, is clearly confident in the U.S. oil
industry, and that shines well on the U.S. companies."
 More
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15435" NEWID="9914">
<DATE>26-MAR-1987 10:47:56.72</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;f1305&#31;reute
u f BC-ROY-F.-WESTON-INC-&lt;WS   03-26 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>ROY F. WESTON INC &lt;WSTNA> 4TH QTR NET</TITLE>
<DATELINE>    WEST CHESTER, Pa., March 26 -
    </DATELINE><BODY>Shr 15 cts vs 11 cts
    Net 900,334 vs 482,705
    Revs 28.7 mln vs 18.8 mln
    Avg shrs 6,195,527 vs 4,551,105
    Shr 51 cts vs 31 cts
    Net 2,713,912 vs 1,402,696
    Revs 98.7 mln vs 67.9 mln
    Avg shrs 5,369,833 vs 4,551,105
    NOTE: Share adjusted for three-for-two stock split
effecitive March 2, 1987.
    Weston said earnings for the firstg quarter will be about
flat due to the recent substantial addition of management and
technical staff and an expansion in the Southeastern and
Northwestern U.S.
    The company said full-year earnings and revenues are
expected to be higher.  The company today reported 1986
earnings of 2,713,912 dlrs, up from 1,402,696 dlrs in 1985, and
revenues of 98.7 mln dlrs, up from 67.9 mln dlrs.
    Weston earned 492,000 dlrs in last year's first quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15436" NEWID="9915">
<DATE>26-MAR-1987 10:48:40.90</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1310&#31;reute
r f BC-MOBIL-&lt;MOB>-TO-UPGRAD   03-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> TO UPGRADE REFINERY UNIT</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Mobil Corp said it will spend over 30
mln dlrs to upgrade a gasoline-producing unit at its Beaumont,
Texas, refinery.
    It said the unit is a catalytic reformer, which converts
low-octane components of gasoline into high-octane components
for use in Super Unleaded gasoline.
    The company said the modernization will allow the unit to
regenerate catalysts on a continuous basis without shutdown.
Currently, it must be shut twice a year.  The unit produces
46,000 barrels of gasoline components a year.  Construction
will start late this year, with completion set for mid-1989.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15437" NEWID="9916">
<DATE>26-MAR-1987 10:49:07.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1312&#31;reute
r f BC-WARNER-LAMBERT-&lt;WLA>   03-26 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>WARNER-LAMBERT &lt;WLA> SUES MASON DISTRIBUTORS</TITLE>
<DATELINE>    MORRIS PLAINS, N.J., March 26 - </DATELINE><BODY>Warner-Lambert Co said it
has filed suit in U.S. District Court in New Jersey against
&lt;Mason Distributors Inc>, alleging unfair competition.
    It said the suit results from Mason's distribution of
children's allergy medicine in packages allegedly resembling
those of Warner-Lambert's Benadryl capsules and elixir.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15438" NEWID="9917">
<DATE>26-MAR-1987 10:49:31.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1315&#31;reute
r f BC-NOVA-&lt;NOVX>-TO-GET-BR   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>NOVA &lt;NOVX> TO GET BRADYKININ ANTAGONIST PATENT</TITLE>
<DATELINE>    BALTIMORE, March 26 - </DATELINE><BODY>Nova Pharmaceutical Corp said the
U.S. Patent Office has allowed its patent for bradykinin
antagonist drugs. Nova said patents have also been filed in
other countries worldwide.
    It said it has the exclusive worldwide rights to these
patents for the first bradykinin blocking drugs being developed
as topical pain relievers and in nasal spry form for treating
common cold symptoms.
    Nova said Bradykinin is the most powerful paing-producing
substance in the body and is considered, based on scientific
evidence, to be the initial stimulus of pain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15439" NEWID="9918">
<DATE>26-MAR-1987 10:50:03.70</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;f1318&#31;reute
r f BC-BLOCKBUSTER-&lt;BBEC>-TO   03-26 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>BLOCKBUSTER &lt;BBEC> TO ACQUIRE LICENSEE</TITLE>
<DATELINE>    DALLAS, March 26 - </DATELINE><BODY>Blockbuster Entertainment Corp said it
agreed to buy &lt;Southern Video>, a Blockbuster licensee in San
Antonio.
    Blockbuster said it will issue 80,460 shares of its common
stock for all the net assets of Southern Video.
    The company said after the acquisition is complete, it
intends to open additional Blockbuster Video Superstores in the
San Antonio market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15440" NEWID="9919">
<DATE>26-MAR-1987 10:50:53.78</DATE>
<TOPICS><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1322&#31;reute
b f BC-BRAZIL-SOYBEAN-HARVES   03-26 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL SOY HARVEST 13 PCT COMPLETE - NEWSLETTER</TITLE>
<DATELINE>    ****SAO PAULO, March 26 - </DATELINE><BODY>Brazil's soybean harvest was 13
pct complete by March 20, the Safras e Mercado newsletter said.
    This compares with an historic average for this time of
year of 20 pct.
    The newsletter gave the following figures for the progress
of the harvest in the main producer states:
    Parana: 40 pct
    Mato Grosso do Sul: 15 pct
    Mato Grosso: five pct
    Rio Grande do Sul: two pct
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15441" NEWID="9920">
<DATE>26-MAR-1987 10:51:46.04</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1327&#31;reute
d f BC-CONTEL-&lt;CTC>-TO-BUY-W   03-26 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTEL &lt;CTC> TO BUY WALKER COUNTY TELEPHONE</TITLE>
<DATELINE>    ATLANTA, March 26 - </DATELINE><BODY>Contel Corp said it has agreed in
principle to acquire &lt;Walker County Telephone Co> of LaFayette,
Ga., for an undisclosed amount of common stock.
    Walker has 7,600 customers in northeast Georgia.
    The company said the agreement is subject to approval by
regulatory agencies, both boards and Walker shareholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15442" NEWID="9921">
<DATE>26-MAR-1987 10:51:57.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1328&#31;reute
d f BC-COMPUDYNE-&lt;CDC>-SEES   03-26 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUDYNE &lt;CDC> SEES COSTS FROM CLEAN-UP STUDY</TITLE>
<DATELINE>    ANNAPOLIS, Maryland, March 26 - </DATELINE><BODY>CompuDyne Corp said its
Robintech Inc unit expects to spend 300,000 to 350,000 dlrs on
a study of a former plant site requested by the U.S.
Environmental Protection Agency, EPA.
    The company said another potentially responsible party was
also asked to share in the study. The plant, in Vestal, N.Y.,
has been designated as a Superfund site by the EPA.
    While its responsibility has not been established, it said
the study will determine what remedial action may be needed at
the site.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15443" NEWID="9922">
<DATE>26-MAR-1987 10:54:17.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1335&#31;reute
u f BC-REUTERS-TO-CARRY-SEAQ   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>REUTERS TO CARRY SEAQ TWO-WAY U.K. SHARE QUOTES</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>Reuters Holdings Plc &lt;RTRS.L> said it
had reached agreement with the London-based International Stock
Exchange on the distribution of two-way British domestic share
quotations from the Stock Exchange Automated Quotation System
(SEAQ) via the Reuter worldwide information network.
    The company said in a statement the agreement covered SEAQ
Level-2, which provides buy and sell price quotations from 31
individual market makers in domestic U.K. Equities.
    Reuters said it will begin carrying the quotes for all 101
Alpha stocks, leading U.K. Shares, within the next few weeks.
    The SEAQ investor service, which displays indications of
market prices for U.K. Shares without identifying market
makers, has been available on the Reuter network since the "Big
Bang" deregulation of the London stock market last October.
    The SEAQ level-2 service will be available on one-month
trial to subscribers to the Reuter International Equities
Service and to the Reuter U.K. Investment Service, prior to the
imposition of Stock Exchange fees, the company said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15444" NEWID="9923">
<DATE>26-MAR-1987 10:55:04.23</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1338&#31;reute
b f BC-/MULFORD-SAYS-G-6-WAN   03-26 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>MULFORD SAYS G-6 WANTS STABILITY</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Treasury Assistant Secretary David
Mulford said the Paris agreement among leading industrial
nations is intended to produce "reasonable stability" in exchange
markets over the next few months.
    He told a Senate Banking subcommittee the Group of Five
nations and Canada agreed in Paris to "see if there can't be a
period of reasonable stability instead of volatility" to give
time for the committments in Paris to take place.
    Asked by Sen Phil Gramm (R-Tex) whether U.S. intervention
was not in fact overvaluing the dollar, Mulford replied that
the administration judged that after economic adjustments,
current exchange rates reflect underlying economic
fundamentals.
    In particular, the stability sought by the nations would
allow West Germany and Japan to stimulate their economies
domestically and the U.S. to cut its budget deficit, Mulford
said in his testimony.
    He stressed that a further sharp fall in the dollar would
hurt the ability of Germany and Japan to boost growth.
    Mulford noted that half of West Germany's economy was
affected by international developments.
    He also said increased Japanese domestic growth would
result in more U.S. exports to Japan and would not necessarily
lead to greater Japanese capital flows to the U.S., as Gramm
asserted, if Japan reformed its domestic capital market.
    Commenting on the Paris agreement, Mulford said, "I think
exchange rates ought to be stabilized so (Germany's and
Japan's) efforts can be carried out.
    Mulford rejected Gramm's argument that faster domestic
growth in Germany and Japan would result in an even lower
dollar.
    Mulford said the administration wanted to achieve a pattern
of higher growth overseas as a way of improving the U.S. trade
deficit.
    Otherwise, he said, the trade deficit would be resolved
either through a much lower dollar or a U.S. recession, both
alternatives he termed unacceptable and undesirable.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15445" NEWID="9924">
<DATE>26-MAR-1987 10:55:46.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1341&#31;reute
r f BC-SYMBOL-TECHNOLOGIES-&lt;   03-26 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>SYMBOL TECHNOLOGIES &lt;SMBL> GETS CONTRACT</TITLE>
<DATELINE>    BOHEMIA, N.Y., March 26 - </DATELINE><BODY>Symbol Technologies Inc said it
has received an order worth over five mln dlrs to install its
LS-7000 hand-held laser scanners and related equipment in all
271 U.S. Toys "R" Us Inc &lt;TOY> stores by the end of calendar
1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15446" NEWID="9925">
<DATE>26-MAR-1987 10:55:54.34</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;f1342&#31;reute
r f BC-THERMO-PROCESS-&lt;TPSI>   03-26 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>THERMO PROCESS &lt;TPSI> COMPLETES ACQUSITION</TITLE>
<DATELINE>    WALTHAM, Mass, March 26 - </DATELINE><BODY>Thermo Process Systems Inc said
it completed its purchase of Thermo Process Services Inc, a
subsidiary of Thermo Electron Corp &lt;TMO>.
    Thermo Process Systems said it issued 2,590,000 shares of
its common stock to Thermo Electron in connection with the
sale.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15447" NEWID="9926">
<DATE>26-MAR-1987 10:57:45.20</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1348&#31;reute
d f BC-SIEMENS-RAISES-STAKE   03-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SIEMENS RAISES STAKE IN TELECOM PLUS OF U.S.</TITLE>
<DATELINE>    MUNICH, West Germany, March 26 - </DATELINE><BODY>Siemens AG's &lt;SIEG.F>
fully-owned subsidiary Siemens Informations Systems Inc. Has
raised its stake in Telecom Plus Communications Inc. By 65 pct
to 100 pct, a Siemens spokesman said.
    He added that Telecom Plus Communications was the largest
independent supplier of telephone exchange systems in the U.S.
And had achieved a turnover of 234 mln dlrs in 1986.
   The stake had been acquired from Telecom Plus International
Inc. The spokesman declined to comment on U.S. Newspaper
reports that the purchase price of the remaining stake totalled
173 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15448" NEWID="9927">
<DATE>26-MAR-1987 11:07:04.57</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1381&#31;reute
r f BC-FRUEHAUF-POSTS-20.3-M   03-26 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>FRUEHAUF POSTS 20.3 MLN DLR 1986 LOSS</TITLE>
<DATELINE>    DETROIT, March 26 - </DATELINE><BODY>Fruehauf Corp, which went private in
December through a leveraged buyout, said the predecessor
company had a 1986 loss of 60.9 mln dlrs compared to earnings
of 70.5 mln dlrs in 1985.
    Sales of the predecessor company were 2.68 billion dlrs
compared to 2.56 billion dlrs in 1985, including the sales by
the operations which are divestiture candidates.
    Fruehauf said in connection with the buyout acquisition,
the predecessor company incurred about 97 mln dlrs in expenses
charged against 1986 operations.
    In addition to the direct expenses, Fruehauf said operating
results were adversely affected by an unquantifiable amount due
to the disruption related to a proxy contest and attempted
hostile takeover which started in early 1986.
    Fruehauf said its board rescheduled the annual meeting to
June 18 from May 7 to allow for completion and distribution of
the 1986 results to shareholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15449" NEWID="9928">
<DATE>26-MAR-1987 11:07:41.19</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;f1385&#31;reute
r f BC-MICHIGAN-GENERAL-&lt;MGL   03-26 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>MICHIGAN GENERAL &lt;MGL> TO SELL KRESTMARK UNIT</TITLE>
<DATELINE>    SADDLE BROOK, N.J., March 26 - </DATELINE><BODY>Michigan General Corp said
it agreed to sell substantially all of the assets and certain
liabilities of its Krestmark subsidiaries to LCB Holdings Inc
for 6.5 mln dlrs cash.
    Sale of Texas-based Krestmark, a maker of doors, door
frames and other products, will allow Michigan General to
concentrate on retailing through its Diamond Lumber and
Savannah Wholesale units.
    Proceeds of the sale will be used to reduce debt. The deal
is subject to execution of a definitive agreement.
    Krestmark had revenues of about 40 mln dlrs and operating
losses of three mln dlrs in 1986, the company said. It has been
accounted for as a discontinued operation since last September.
    Dallas-based LCB is a privately-held maker of structural
steel joists and rack and storage handling systems.
    Michigan General also said its Diamond Lumber homebuilding
products retail unit closed nine unprofitable stores in the
first quarter and reduced its headquarters staff by 10 pct. The
nine closed stores, which had pretax operating losses of 1.7
mln dlrs in 1986, are being sold to provide cash for
operations.
    About 4.5 mln dlrs of inventory from the stores is being
transferred to other locations, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15450" NEWID="9929">
<DATE>26-MAR-1987 11:09:00.13</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1392&#31;reute
r f BC-RABBIT-SOFTWARE-&lt;RABT   03-26 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>RABBIT SOFTWARE &lt;RABT> TO MERGE WITH CTI DATA</TITLE>
<DATELINE>    MALVERN, Penn., March 26 - </DATELINE><BODY>Rabbit Software Corp said it
agreed in principle to merge with &lt;CTI Data Inc>, a privately
owned communications company.
    According to terms, CTI holders and employees will receive
200,000 shares of Rabbit stock and royalties on sales of CTI
Products. CTI will become a wholly owned subsidiary of Rabbit.
    The deal is subject to completion of a definitive merger
agreement, receipt of third party approvals and other
conditions, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15451" NEWID="9930">
<DATE>26-MAR-1987 11:09:16.45</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1394&#31;reute
r f BC-COMSTOCK-GROUP-INC-&lt;C   03-26 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>COMSTOCK GROUP INC &lt;CSTK> 4TH QTR LOSS</TITLE>
<DATELINE>    DANBURY, Conn., March 26 -
    </DATELINE><BODY>Shr loss 60 cts vs loss 43 cts
    Net loss 3,012,000 vs loss 2,114,000
    Revs 102.8 mln vs 134.9 mln
    Year
    Shr loss 1.48 dlr vs loss four cts
    Net loss 7,338,000 vs loss 180,000
    Revs 354.9 mln vs 469.2 mln
    NOTE: 1986 4th qtr and year net includes a loss of 623,000
dlrs and a gain 1,910,000 dlrs or 39 cts per share for an
extraordinary item.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15452" NEWID="9931">
<DATE>26-MAR-1987 11:09:29.15</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;f1395&#31;reute
r f BC-TIME-&lt;TL>-SINKING-FUN   03-26 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>TIME &lt;TL> SINKING FUND DEBENTURES YIELD 8.84 PCT</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Time Inc is raising 250 mln dlrs via
an offering of sinking fund debentures due 2017 yielding 8.84
pct, said lead manager Salomon Brothers Inc.
    The debentures have an 8-3/4 pct coupon and were priced at
99.055 to yield 115 basis points over the off-the-run 9-1/4 pct
Treasury bonds of 2016. First Boston co-managed the deal.
    The issue is non-refundable for 10 years. A sinking fund
starting in 1998 to retire annually five pct of the debentures
can be upped by 200 pct at the company's option, giving them an
estimated minimum life of 13.85 years and maximum of 20.5
years. The debt is rated Aa-3 by Moody's and A-plus by S/P.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15453" NEWID="9932">
<DATE>26-MAR-1987 11:09:44.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1398&#31;reute
r f BC-MITSUBISHI-UNIT-TO-SU   03-26 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>MITSUBISHI UNIT TO SUPPLY CELLULAR TELEPHONE SYSTEMS</TITLE>
<DATELINE>    LAKE MARY, Fla., March 26 - </DATELINE><BODY>ASTRONET Corp, which is jointly
owned by &lt;Mitsubishi Corp> and &lt;Stromberg-Carlson Corp>  said
it entered into three separate agreements to supply cellular
telephone systems in Roanoke, Va.; Montgomery, Ala.; and San
Angelo, Texas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15454" NEWID="9933">
<DATE>26-MAR-1987 11:10:43.13</DATE>
<TOPICS><D>veg-oil</D></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;f1402&#31;reute
b f BC-/U.S.-SENATE-HITS-EC   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE HITS EC OILS TAX, VOWS RETALIATION</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>The Senate voted to condemn the
proposed European common market tax on vegetable and marine
fats and oils and said it would result in retaliation.
    The non-binding Senate resolution, a sense of Senate
sentiment, was approved on a 99 to 0 vote.
    "The administration should communicate to the European
Community the message that the United States will view the
establishment of such a tax as inconsistent with the European
Community's obligations under the General Agreement on Tariffs
and Trade that will result in the adoption of strong and
immediate countermeasures," the resolution stated.
    The resolution said the European Community Commission has
proposed establishing a consumption tax on vegetable and fish
oils and fats in conjunction with the setting of farm prices
for the 1987/1988 EC marketing year.
    The Senate said the tax would amount to almost 90 pct of
the current price of soyoil and "have a restrictive effect" on
U.S. exports of soybeans and vegetable oils to the EC.
    It would be "blatantly inconsistent" with obligations of the
EC under the General Agreement on Tariffs and Trade, GATT, the
resolution said, and "constitute another egregious attempt" to
impose EC agricultural costs on trading partners.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15455" NEWID="9934">
<DATE>26-MAR-1987 11:10:45.42</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1403&#31;reute
b f BC-******HEALTHMATE-INC   03-26 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>HEALTHMATE INC SAYS AUDITORS INTEND TO QUALIFY ITS FINANCIAL STATEMENTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15456" NEWID="9935">
<DATE>26-MAR-1987 11:12:45.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uk</D><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f1412&#31;reute
r f BC-SWEDISH-BANK,-U.S.-FI   03-26 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDISH BANK, U.S. FIRM PLAN U.K. STOCK VENTURE</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Sweden's Skandinaviska Enskilda Banken
said it will set up a joint venture in London with U.S.
brokerage firm Equitable Securities Corp of Nashville, Tenn.,
for the sale of U.S. equities in Europe.
    S-E Bank's managing director Jacob Palmstierna told a press
briefing that the joint venture, called Equitable Enskilda
Securities Ltd, will be established next month.
    S-E Bank bought a 4.9 pct stake in Equitable Securities
about two weeks ago. Equitable's role in the joint venture will
include provision of research on firms in the south-east United
States.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15457" NEWID="9936">
<DATE>26-MAR-1987 11:13:00.84</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;f1414&#31;reute
s f BC-HARSCO-CORP-&lt;HSC>-SET   03-26 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>HARSCO CORP &lt;HSC> SETS QUARTERLY</TITLE>
<DATELINE>    HARRISBURG, Pa., March 26 -
    </DATELINE><BODY>Qtly div 25 cts vs 25 cts prior
    Pay May 15
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15458" NEWID="9937">
<DATE>26-MAR-1987 11:13:11.72</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;f1415&#31;reute
d f BC-MILASTAR-CORP-&lt;MILA>   03-26 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>MILASTAR CORP &lt;MILA> 3RD QTR JAN 31 LOSS</TITLE>
<DATELINE>    PALM BEACH, Fla., March 26 -
    </DATELINE><BODY>Shr loss two cts vs loss four cts
    Net loss 44,000 vs loss 85,000
    Sales 370,000 vs 299,000
    Nine mths
    Shr loss seven cts vs loss three cts
    Net loss 134,000 vs loss 56,000
    Sales 1,211,000 vs 1,069,000
    NOTE: Prior nine mths net includes 10,000 dlr loss on sale
of marketable securities.
    Prior quarter net includes 1,000 dlr tax credit.
    Current year net includes provisions for loss on investment
in preferred stock of 4,000 dlrs in quarter and 15,000 dlrs in
nine mths.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15459" NEWID="9938">
<DATE>26-MAR-1987 11:13:17.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1416&#31;reute
d f BC-BDM-&lt;BDM>-GETSW-ARMY   03-26 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>BDM &lt;BDM> GETSW ARMY CONTRACT</TITLE>
<DATELINE>    MCLEAN, Va., March 26 - </DATELINE><BODY>BDM International Inc said it has
received a U.S. Army contract with a base year value of
1,400,000 dlrs to support the plans and operations staff of the
U.S. Army Joint Readiness Training Center, based at Little Rock
Air Force Base.
    The company said with three option years, total value would
be about 7,200,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15460" NEWID="9939">
<DATE>26-MAR-1987 11:15:43.42</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1425&#31;reute
f f BC-******bank-of-boston   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF BOSTON EXPECTS 1ST QTR EARNINGS FROM 90 CTS TO 1.00 DLRS/SHR VS 79 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15461" NEWID="9940">
<DATE>26-MAR-1987 11:20:53.04</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM A
&#22;&#22;&#1;f1440&#31;reute
b f BC-BANK-OF-BOSTON-&lt;BKB>   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF BOSTON &lt;BKB> SEES IMPROVED 1ST QUARTER</TITLE>
<DATELINE>    BOSTON, March 26 - </DATELINE><BODY>Bank of Boston Corp expects first
quarter earnings will range between 90 cts and one dlr a share,
up from 79 cts a share last year, Chairman William Brown said.
    He told shareholders the company has a 190 mln dlr exposure
in loans to Brazil if that country defaults on its debt
payments. If a default does occur, it would first quarter
earnings by about five cts a share, which would bring the
bank's in the lower level of the estimated range, he added.
    Brown noted the 1986 first quarter net included a 17 cts
gain from loan restructurings which will not appear this year.
    Brown said the bank's other nonperforming assets, not
including its Brazilian exposure, could rise to over 700 mln
dlrs at the end of this quarter compared with 669 mln dlrs a
year earlier and 614 mln dlrs at the end of 1986.
    He said the increase includes all of its Equadorian loans
which he expects will be ultimately repaid after the company
recovers from an earthquake earlier this year.
    Brown said the increase also includes some Mexican and
Venezuelan loans as those nations are also facing credit
problems.
    Brown said the Bank of Boston remains "cautiously optimitic
about the full year even if our Brazilian exposure were to be
on nonaccural all year." In 1986, the bank earned 3.69 dlrs a
share, or 232.8 mln dlrs on net interest revenues of 1.08
billion dlrs.
    President Ira Stepanian told the shareholders's meeting the
bank's total loans to Argentina, Brazil and Mexico totaled 875
mln dlrs at the end of 1986, 37 pct of its primary capital.
Brazil loans total 300 mln dlrs, of which about two-thirds are
affected by its suspension of interest payments on its medium
and long term foreign debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15462" NEWID="9941">
<DATE>26-MAR-1987 11:21:52.57</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>libya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1447&#31;reute
b f BC-LIBYA-REPORTEDLY-BOUG   03-26 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBYA REPORTEDLY BOUGHT WHITE SUGAR</TITLE>
<DATELINE>    ****LONDON, March 26 - </DATELINE><BODY>Libya is reported to have recently
bought two cargoes of white sugar from operators at around
229/230 dlrs a tonne cost and freight, traders said.
    The shipment period required was not specified.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15463" NEWID="9942">
<DATE>26-MAR-1987 11:22:33.36</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1451&#31;reute
f f BC-******USAIR-GETS-APPR   03-26 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>USAIR GETS APPROVAL TO BUY 9,309,394 PIEDMONT SHARES IN TENDER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15464" NEWID="9943">
<DATE>26-MAR-1987 11:23:26.67</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1454&#31;reute
b f BC-/-FED-EXPECTED-TO-ADD   03-26 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FED EXPECTED TO ADD RESERVES</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>The Federal Reserve is expected to
enter the U.S. government securities market to add reserves
during its usual intervention period today, economists said.
    With federal funds trading at a steady 6-3/16 pct, most
economists expect an indirect injection of temporary reserves
via a medium-sized round of customer repurchase agreements.
    However, some economists said the Fed may arrange more
aggressive system repurchase agreements.
    Economists would also not rule out an outright bill pass
early this afternoon. Such action had been widely anticipated
yesterday but failed to materialize.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15465" NEWID="9944">
<DATE>26-MAR-1987 11:24:17.20</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;f1455&#31;reute
u f BC-WRIGHT-SAYS-HOUSE-BUD   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>WRIGHT SAYS HOUSE BUDGET COMMITTEE ON TARGET</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>House Speaker Jim Wright, D-Texas,
said House Budget Committee Democrats were on target to reach
budget deficit reduction goals with a plan for 18 billion dlrs
in new revenues and 18 billion dlrs in additional budget cuts.
    "We're right on target," Wright told reporters. "The cuts are
real cuts. The revenues would be real revenues."
    Wright said it would be up to Congress to come up with the
new revenues. President Reagan says he will veto any
legislation which raises taxes.
    Wright said the budget plan may come up in the House next
week. Republicans are expected to offer an alternative budget.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15466" NEWID="9945">
<DATE>26-MAR-1987 11:26:01.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1462&#31;reute
r f BC-GE-&lt;GE>-CREDIT-SUES-P   03-26 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>GE &lt;GE> CREDIT SUES PHOENIX FINANCIAL &lt;PHFC></TITLE>
<DATELINE>    MEDFORD, N.J., MARCH 26 - </DATELINE><BODY>Phoenix Financial Corp said it
was sued by General Electric Credit Corp, a unit of General
Electric Co, for breach of warranties and representations.
    The warranties are connected with leases the company said
it sold to GE Credit in June 1985. GE is asking the company to
buy back leases totaling 829,000 dlrs.
    The company said there were no breach of warranties, but it
added it is in the process of reviewing the complaint and
preparing an answer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15489" NEWID="9946">
<DATE>26-MAR-1987 11:26:44.94</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1464&#31;reute
u f BC-DOLLAR/YEN-INTERVENTI   03-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>DOLLAR/YEN INTERVENTION RESPONDS TO PRESSURE</TITLE>
<AUTHOR>    By Brian Childs, Reuters</AUTHOR>
<DATELINE>    PARIS, March 26 - </DATELINE><BODY>The Bank of France intervened to buy
small amounts of dollars and sell yen in Paris today to
stabilise the exchange rates agreed at last month's meeting of
Finance Ministers of the Group of Five and Canada, foreign
exchange dealers said.
    But they said recent central bank intervention in the
foreign exchange markets appeared to be a limited reaction to
temporary pressures rather than a major defence operation.
    A Bank of France spokesman declined all comment but sources
close to the central bank said it had also intervened
yesterday.
    Dealers said the earlier intervention was in concert with
the Bundesbank and Bank of Japan.
    The sources said the French central bank could have been in
the market again today in two-way operations, not necessarily
on its own account, but to counter short-term pressures arising
from the end of the Japanese financial year on March 31.
    One major French bank said it bought between five and 15
mln dlrs for the central bank and sold yen at 149.28 to the
dollar.
    Another bank said it had been asked by the Bank of France
to say it was in the market, a departure from the central
bank's usual insistence on confidentiality.
    But other banks said they had seen no sign of intervention,
which they said appeared to be on a very limited scale.
    "Even if 10 banks were buying five to 15 mln dlrs, you would
still be talking of a small overall amount," said one dealer.
    Recent intervention by the Bank of Japan appeared mainly to
have been required to meet year-end window dressing demand for
yen. "This is a specific short term phenomenon rather than a
wider trend," the dealer said.
    Operators have been extremely cautious about testing the
dollar's trading ranges against the West German mark and
Japanese yen.
    These ranges were set in February's stabilisation agreement
reached here by U.S. Treasury Secretary James Baker and the
Finance Ministers of Japan, Germany, France, Britain and
Canada.
    But speculative pressures started to build again this week
after Baker was quoted on British television at the weekend as
repeating earlier statements that Washington had no target for
the dollar.
    Baker yesterday moved to defuse speculation he was talking
the dollar down, telling a Cable News Network interviewer and a
Senate committee he stood by the Paris agreement. Foreign
exchange markets had been misreading his comments, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15467" NEWID="9947">
<DATE>26-MAR-1987 11:26:56.23</DATE>
<TOPICS><D>acq</D><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1465&#31;reute
u f BC-WALL-STREET-STOCKS/U.   03-26 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>WALL STREET STOCKS/U.S. OIL COMPANIES</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>British Petroleum Co PLC's
announcement that its U.S. subsidiary intends to tender for the
45 pct of Standard Oil Co &lt;SRD> it does not already own,
catapulted U.S. oil stocks sharply higher this morning, traders
and analysts said.
    "It raises the specter of additional consolidation in the
industry and that is what is boosting the other oils," analyst
Rosario Ilacqua of L.F. Rothschild said.
    Sanford Margoshes of Shearson Lehman Brothers said "this
deal shows that British Petroleum, a conservative investor that
knows the oil business, is clearly confident in the U.S. oil
industry, and that shines well on the U.S. companies."
    Philips Petroleum &lt;P> gained 3/4 to 15-7/8, Occidental
Petroleum &lt;OXY> one to 34-5/8, USX Corp &lt;X>, with its Marathon
Oil Co unit, rose 1/2 to 28-3/8. Exxon &lt;XON> climbed one to
88-3/8, Mobil &lt;MOB> one to 50-1/4, Atlantic Richfield &lt;ARC>
3-1/8 to 80-1/2, Amoco &lt;AN> 1-7/8 to 84-1/8, and Amerada Hess
one to 33-5/8. BP gained 2-3/8 to 59-3/4.
    Both analysts said the rise in Standard's price this
morning to above the proposed tender price of 70 dlrs a share,
is an indication that investors expect the bid to be sweetened.
Standard gained 6-3/4 to 71-5/8.
    The analysts cited Royal Dutch/Shell Group's &lt;RD> &lt;SC> bid
for Shell Oil Co, which was sweetened before its successful
conclusion.
    Margoshes said the BP action "is an articulation of the
underlying value of oil companies in the marketplace." But he
expressed skepticism that this will necessarily lead to
heightened merger or buyout activity in the oil group.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15468" NEWID="9948">
<DATE>26-MAR-1987 11:27:45.05</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1470&#31;reute
f f BC-******MULFORD-SAYS-GE   03-26 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MULFORD SAYS GERMANY, JAPAN HAVE NOT YET LIVED UP TO INTERNATIONAL COMMITMENTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15469" NEWID="9949">
<DATE>26-MAR-1987 11:28:23.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1474&#31;reute
r f BC-ORIENTAL-FEDERAL-INIT   03-26 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>ORIENTAL FEDERAL INITIAL OFFERING UNDER WAY</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Oriental Federal Savings Bank of
Humacao, Puerto Rico, said an initial public offering of
656,819 common shares is under way at 11.50 dlrs per share.
    The company issued a total of 1,075,000 shares in
converting from mutual form, with other shares sold in a
subscription offering.  Lead underwriter is &lt;Drexel Burnham
Lambert Inc>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15470" NEWID="9950">
<DATE>26-MAR-1987 11:28:56.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cbt</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1477&#31;reute
u f BC-FARMERS-COMMODITIES-T   03-26 0129</UNKNOWN>
<TEXT>&#2;
<TITLE>FARMERS COMMODITIES TO CLEAR FUTURES FOR CO-OPS</TITLE>
<DATELINE>    CHICAGO, March 26 - </DATELINE><BODY>Farmers Commodities of Des Moines,
Iowa, has taken steps to become a clearing member of the
Chicago Board of Trade for farm cooperatives that currently
trade through Illnois Cooperative Futures Co.
    Hal Richards, president of Farmers Commodities, said the
company already has bought a membership at the futures exchange
and has applied for clearing status.
    He said the company is attempting to become the clearing
company for the members of Illinois Coop after they voted to
dissolve the company Wednesday.
    Illinois Coop will cease operating April 24.
    Richards declined to say how many of the Illinois Coop
members were considering joining Farmers, but he said the
number was "significant."
    He said he was recruiting the staff of Illinois Coop,
including Al Evans, back office manager.
    Richards said Farmers Commodities was the largest member of
Illinois Coop, and its 700 members felt that the coop should
retain a clearing membership at the board.
    "It allows us to get better quality execution," he said.
    "Anyone who wants to join our clearing corporation in the
cooperative system, we'll invite them to join us.
    "I think we'll attract others to us because it's our intent
to pass the profit back on to the individual members," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15471" NEWID="9951">
<DATE>26-MAR-1987 11:29:16.35</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;f1479&#31;reute
r f BC-FRANK-B.-HALL-&lt;FBH>-D   03-26 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANK B. HALL &lt;FBH> DEBT MAY BE CUT BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Moody's Investors Service Inc said it
may downgrade about 65 mln dlrs of Frank B. Hall and Co Inc's
B-1 subordinated notes.
    Moody's said its focus will be on Hall's brokerage business
and contingent liabilities associated with the unit Union
Indemnity Insurance Co.
    The agency cited a 140 mln dlr lawsuit by the New York
State Insurance Department against Hall in connection with the
insolvency of the Union Indemnity subsidiary, which was
liquidated by New York Insurance in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15472" NEWID="9952">
<DATE>26-MAR-1987 11:29:33.68</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;f1482&#31;reute
r f BC-norcen-sees   03-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>NORCEN SEES IMPROVEMENT IN 1987 EARNINGS</TITLE>
<DATELINE>    CALGARY, Alberta, March 26 - </DATELINE><BODY>&lt;Norcen Energy Resources Ltd>,
41 pct owned by &lt;Hees International Corp>, said earnings and
cash flow will improve in 1987, even if oil and gas prices
remain at 1986 levels.
    The improvement will result from production increases,
lower taxes and royalties, reduced financing costs and from
operating efficiencies and downsizing put into place during
1986, the company said in the annual report.
    Norcen previously reported 1986 earnings, excluding a 20.1
mln dlr writeoff, declined by 58 pct to 50.0 mln dlrs from
119.7 mln dlrs in in 1985.
    Norcen's 1986 cash flow fell 10 pct to 204.9 mln dlrs from
228.9 mln dlrs in the prior year.
    It said the sharp decline in oil prices during 1986 was the
most significant factor for Norcen's reduced performance.
    "While financial results are far from the previous year's
record levels, it is clear that Norcen has withstood declining
prices and remains financially and operationally strong," Norcen
said. It did not give a specific 1987 profit forecast.
    The company said it is well positioned to capitalize on
profitable opportunities in its core business areas, and will
continue to invest to increase revenue and asset values.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15500" NEWID="9953">
<DATE>26-MAR-1987 11:29:43.33</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>uk</D><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1483&#31;reute
b f BC-COCOA-COUNCIL-HEAD-TO   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>COCOA COUNCIL HEAD TO PRESENT BUFFER COMPROMISE</TITLE>
<DATELINE>    LONDON, March 26 - </DATELINE><BODY>International Cocoa Organization, ICCO,
council chairman Denis Bra Kanon will present a compromise
proposal on buffer stock rules to producer and consumer
delegates either later today or tomorrow morning, delegates
said.
    Bra Kanon held private bilateral consultations with major
producers and consumers this morning to resolve outstanding
differences, mostly on the issues of how much non-member cocoa
the buffer stock can purchase and price differentials for
different varieties.
    Delegates were fairly confident the differences could be
worked out in time to reach agreement tomorrow.
    Some consuming member nations, including Britain and
Belgium, favour the buffer stock buying more than 10 pct
non-member cocoa, delegates have said.
    The consumers argue that buying cheaper, lower quality
non-member cocoas, particularly Malaysian, will most
effectively support prices because that low quality cocoa is
currently pressuring the market.
    Producers, meanwhile, say non-member cocoa should make up
at most a very small percentage of the buffer. They say
Malaysia should not be able to benefit from the ICCO unless it
is a member, and if the buffer stock bought Malaysian cocoa
Malaysia would have no incentive to join, delegates said.
    As to differentials, Ghana apparently wanted a higher
differential for its cocoa than is outlined in the most recent
proposal, so it would have a better chance of having its cocoa
bought for the buffer stock, producer delegates said.
    Some consumers wanted differentials to be adjusted in a way
that would not promote buffer stock purchases of the more
expensive cocoas, such as Ghanaian and Brazilian, they said.
    Other technical points need to be sorted out, including
limits on how much cocoa the buffer stock manager can buy in
nearby, intermediate and forward positions and the consequent
effect on prices in the various deliveries, delegates said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15473" NEWID="9954">
<DATE>26-MAR-1987 11:30:32.16</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>west-germany</D><D>france</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1486&#31;reute
d f BC-SIEMENS-REBUTTS-U.S.   03-26 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>SIEMENS REBUTTS U.S. CRITICISM ON CGCT OFFER</TITLE>
<DATELINE>    MUNICH, March 26 - </DATELINE><BODY>Siemens AG &lt;SIEG.F> rebutted U.S.
Criticism it is blocking American Telephone and Telegraph
Corp's &lt;T.N>, AT and T, entry into French telecommunications
firm &lt;Compagnie Generale Constructions Telephoniques>, CGCT.
    Management board member Hans Baur told journalists that the
acquisition of a joint 20 pct stake in CGCT by AT and T and
Philips Gloeilampenfabrieken NV &lt;PGLO.AS> had not been decided
on two years ago as claimed by AT and T.
    The French government, which owns CGCT, had asked Siemens
at the start of 1986 to submit an offer for the stake in CGCT.
The result of the negotiations was still open.
    Baur said Siemens had first made an offer last summer.
    The Handelsblatt newspaper today quoted AT and T chairman
James E. Olson as saying that Siemens' attempt to stop AT and T
and Philips could lead to a resurgence of protectionism in the
U.S.
    Baur said he expected the French government to decide on
the winning bid by the end of April. CGCT's share of the French
switchboard market amounts to around 16 pct.
    The French government has limited CGCT participation by
foreign companies to 20 pct and set a price of 500 mln francs
for the whole company.
    Bauer said the 20 pct limitation would only apply to the
initial stake. He did not rule out a stake increase later but
said Siemens' aim was to introduce its technology.
    Bauer said Siemens and French telecommunications firm
&lt;Jeumont-Schneider SA> submitted a joint offer at the start of
March because of the 20 pct limitation. Both companies will
form a joint venture to take over the whole of CGCT.
   Siemens will have a 20 pct stake in the new company while
Jeumont-Schneider will own 80 pct. Apart from investing 100 mln
francs for the modernisation of CGCT, a new research centre
with was also being planned.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15474" NEWID="9955">
<DATE>26-MAR-1987 11:30:46.85</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1487&#31;reute
f f BC-******MULFORD-DISAPPO   03-26 0020</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MULFORD DISAPPOINTED IN NEWLY INDUSTRIALIZED (NICS) EFFORTS TO STRENGTHEN CURRENCIES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15475" NEWID="9956">
<DATE>26-MAR-1987 11:33:53.30</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;f1501&#31;reute
u f BC-FORD-&lt;F>-NEARS-GM-&lt;GM   03-26 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> NEARS GM &lt;GM> IN EXECUTIVE BONUSES</TITLE>
<DATELINE>    DETROIT, March 26 - </DATELINE><BODY>Ford Motor Co neared General Motors
Corp last year in executive bonuses, while it topped the larger
automaker in profit sharing payments to workers.
    Ford, which outstripped GM in earnings last year, said its
1986 incentive bonuses totaled 167 mln dlrs, slightly behind
General Motors' 169.1 mln.
    General Motors, however, did not make any profit-sharing
payments to its workers, while Ford made a profit-sharing
distribution of 372 mln dlrs, or 2,100 dlrs per worker.
    General Motors, which saw its earnings drop to 2.94 billion
dlrs from 1985's 3.99 billion, said the 1986 profit was "not
sufficient to generate a payout under the profit-sharing
formula."
    Ford, which earned 3.28 billion dlrs in 1986, up from 2.51
billion in 1985, said it "recognizes employees' efforts and
fulfills its commitment to them in many ways, including
profit-sharing."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15476" NEWID="9957">
<DATE>26-MAR-1987 11:36:29.74</DATE>
<TOPICS><D>trade</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>west-germany</D><D>taiwan</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM A
&#22;&#22;&#1;f1513&#31;reute
b f BC-/MULFORD-SAYS-GERMANY   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MULFORD SAYS GERMANY, JAPAN SHOULD DO MORE</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>Treasury Assistant Secretary David
Mulford said he did not believe that West Germany and Japan
have yet carried out their international responsibilities.
    "I do not believe they have up to this time," Mulford told
a Senate banking subcommittee.
    He said that for the U.S. trade deficit to continue
improving in the next two years, "We need more policy actions"
across the entire front of U.S. trade relations, including
Canada and the newly-industrialized countries (NICS).
    In particular, he said, efforts by South Korea and Taiwan
to strengthen their currencies were still disappointing.
    Mulford also said that OECD nations need to grow an average
three pct to help resolve the international debt crisis.
    He noted that Japanese and European imports from Latin
nations were significantly smaller than imports into the U.S.
    He stressed both Germany and Japan must continue to take
economic and structural measures to ensure stronger sustained
economic growth.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15477" NEWID="9958">
<DATE>26-MAR-1987 11:36:52.63</DATE>
<TOPICS><D>grain</D><D>corn</D><D>barley</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1517&#31;reute
b f BC-EC-GRANTS-EXPORT-LICE   03-26 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EC GRANTS EXPORT LICENCES 197,000 TONNES  FREE MARKET MAIZE, ZERO BARLEY - PARIS TRADERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15478" NEWID="9959">
<DATE>26-MAR-1987 11:37:20.69</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;f1521&#31;reute
r f BC-PIER-1-IMPORTS-&lt;PIR>   03-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>PIER 1 IMPORTS &lt;PIR> DECLARES STOCK SPLIT</TITLE>
<DATELINE>    FORT WORTH, Tex., March 26 - </DATELINE><BODY>Pier 1 Imports Inc said its
board declared a three-for-two split of its common stock and
its 25 cents preferred stock, and declared a regular quarterly
dividend of two cents per share on the pre-split shares of
common stock outstanding.
    Pier 1 also declared a 12.5 pct annual dividend increase
for the post-split common shares. The split will be effected in
the form of a 50 pct stock dividend on both classes.
    The company said shareholder approval is required for an
increase in authorized shares of common stock to 100 mln from
25 mln.
    It said approval is also needed for an increase in
authorized shares of preferred stock from one million to five
million. It said voting will be conducted at its annual
shareholder meeting on June 24.
    Pier 1 said there are currently 19.1 million shares of
common stock and 960,000 shares of 25 cts preferred stock
outstanding.
    The split shares will be distributed on June 29 to
shareholders of record May 13. The two cts per share quarterly
cash dividend will be payable May 29 to shareholders of record
May 13.
    "The increase in shares outstanding will broaden the base
of stock ownership in the company, and the dividend increase
reflects the directors' positive outlook for the future
prospects of Pier 1 Imports," said Clark Johnson, president and
chief executive officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15479" NEWID="9960">
<DATE>26-MAR-1987 11:37:37.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1523&#31;reute
d f BC-RCM-TECHNOLOGIES-&lt;RCM   03-26 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>RCM TECHNOLOGIES &lt;RCMT> ORDER INCREASED</TITLE>
<DATELINE>    CAMDEN, N.J., March 26 - </DATELINE><BODY>RCM Technologies Inc said its
contract to provide engineering personnel to the Sikorsky
Aircraft division of United Technologies Corp &lt;UTX> has been
increased by 4,300,000 dlrs to 11.0 mln dlrs.
    It said the contract runs through the end of 1987.   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15480" NEWID="9961">
<DATE>26-MAR-1987 11:37:46.99</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;f1524&#31;reute
d f BC-LANCER-CORP-&lt;LACR>-4T   03-26 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>LANCER CORP &lt;LACR> 4TH QTR NET</TITLE>
<DATELINE>    SAN ANTONIO, Texas, March 26 -
    </DATELINE><BODY>Shr 12 cts vs 15 cts
    Net 282,000 vs 360,000
    Revs 5,261,000 vs 5,348,000
    Avg shrs 2,336,000 vs 2,335,000
    Year
    Shr 91 cts vs 1.04 dlrs
    Net 2,149,000 vs 2,075,000
    Revs 28.2 mln vs 28.3 mln
    Avg shrs 2,356,000 vs 2,001,000
    NOTE: 1986 quarter net includes 72,000 dlr charge from
repal of investment tax credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15481" NEWID="9962">
<DATE>26-MAR-1987 11:38:01.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1526&#31;reute
d f BC-THERMO-PROCESS-&lt;TPSI>   03-26 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>THERMO PROCESS &lt;TPSI> WINS 1.5 MLN DLR CONTRACT</TITLE>
<DATELINE>    WALTHAM, Mass., March 26 - </DATELINE><BODY>Thermo Process Systems Inc said
it won a 1.5 mln dlr contract from Avtopromimport, a trading
company in the Soviet Union.
    The company said it will supply a fully automated,
rotary-hearth furnace system to treat automobile transmission
gears.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15482" NEWID="9963">
<DATE>26-MAR-1987 11:38:13.90</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1528&#31;reute
d f BC-MACNEAL-SCHWENDLER-CO   03-26 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>MACNEAL-SCHWENDLER CORP &lt;MNS> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    LOS ANGELES, March 26 -
    </DATELINE><BODY>Shr 16 cts vs 11 cts
    Net 1,888,000 vs 1,307,000
    Revs 7,365,000 vs 5,877,000
    Year
    Oper shr 58 cts vs 40 cts
    Oper net 7,005,000 vs 4,866,000
    Revs 27.1 mln vs 21.1 mln
    NOTE: Prior year net excludes 263,000 dlr loss from
discontinued operations and 2,073,000 dlrs on disposal.
    Share adjusted for stock dividends.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15483" NEWID="9964">
<DATE>26-MAR-1987 11:38:17.54</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1529&#31;reute
d f BC-NICHOLS-INSTITUTE-&lt;LA   03-26 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>NICHOLS INSTITUTE &lt;LAB> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    SAN JUAN CAPISTRANO, Calif., March 26 -
    </DATELINE><BODY>Shr two cts vs one ct
    Net 83,000 vs 32,000
    Revs 11.2 mln vs 7,625,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15484" NEWID="9965">
<DATE>26-MAR-1987 11:38:23.09</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1530&#31;reute
d f BC-FIRST-MEDICAL-DEVICES   03-26 0029</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST MEDICAL DEVICES CORP &lt;FMDC> YEAR LOSS</TITLE>
<DATELINE>    BELLEVUE, Wash., March 26 -
    </DATELINE><BODY>Shr loss 97 cts
    Net loss 1,364,453
    Sales 737,971
    NOTE: Company in development stage.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15485" NEWID="9966">
<DATE>26-MAR-1987 11:38:28.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1531&#31;reute
d f BC-FIRST-MEDICAL-&lt;FMDC>   03-26 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST MEDICAL &lt;FMDC> GETS ORDER</TITLE>
<DATELINE>    BELLEVUE, Wash., March 26 - </DATELINE><BODY>First Medical Devices Corp said
it has received a contract to sell EMT-defibrillation equipment
to Lane County, Ore., for undisclosed terms.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15486" NEWID="9967">
<DATE>26-MAR-1987 11:38:56.25</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1534&#31;reute
b f BC-HEALTHMATE-&lt;HMTE>-EXP   03-26 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTHMATE &lt;HMTE> EXPECTS QUALIFIED OPINION</TITLE>
<DATELINE>    NORTHBROOK, ILL., March 26 - </DATELINE><BODY>HealthMate Inc said its
auditors, Laventhol and Horwath, indicated they will issue a
qualified opinion on the company's financial statements.
    The company, which went public in March 1985, earlier
reported losses for the fourth quarter.
    It said the auditor's statement, known as a "subject to"
opinion, cautions that, because of continuing operating losses
and negative cash flow, it must achieve profitable operations
or acquire additional equity capital or other financing to
continue in existence.
    HealthMate reported a loss for the year of 1,512,534 dlrs,
or 17 cts a share on revenues of 1.4 mln dlrs. A year ago, it
had a loss of 1,553,592 dlrs, or 20 cts a share on revenues of
515,225 dlrs.
    It said the increased sales reflect initial shipments of
its FluoroScan Imaging Systems, low radiation X-ray imaging
devices that recently were classified by Underwriters
Laboratories Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15487" NEWID="9968">
<DATE>26-MAR-1987 11:39:07.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1536&#31;reute
h f BC-BALLY-&lt;BLY>-NAMES-NEW   03-26 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLY &lt;BLY> NAMES NEW CHIEF FINANCIAL OFFICER</TITLE>
<DATELINE>    CHICAGO, March 26 - </DATELINE><BODY>Bally Manufacturing Corp said it has
elected Paul Johnson a vice president and named him chief
financial officer, replacing Donald Romans, who took early
retirement.
    Bally also said it has appointed Jerry Blumenshine,
formerly a vice president, treasurer to fill the position left
vacant by Johnson.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15488" NEWID="9969">
<DATE>26-MAR-1987 11:39:51.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1537&#31;reute
u f BC-BRAZIL-ASKS-60-DAY-EX   03-26 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL ASKS 60-DAY EXTENSION SHORT-TERM CREDIT</TITLE>
<DATELINE>    BRASILIA, MARCH 26 - </DATELINE><BODY>Brazil today suggested to its foreign
bank creditors an extension of short-term credit lines for 60
days until May 31, a spokesman for the Central Bank said.
    He said that with the move, called a "standstill"
arrangement, Brazil was only trying to avoid difficulties to
pay its 109 billion dlrs debt in the future.
    The spokesman told Reuters that Brazil's suggestion will be
communicated by telex to Brazil's 700 bank creditors.
    The spokesman declined to give details of what was included
in the statement, but said Central Bank president Francisco
Gros was seeking a 60-day extension of the short-term credit
lines from its commercial bank creditors.
    The amount of these credit lines totals 15 billion dollars,
and deadline for payment is set for March 31.
    Finance Minister Dilson Funaro said in a television
interview it was "absolutely important" for Brazil and its
creditors to renew the short-term credit lines, as Brazil must
finance its exports.
    "If these credit lines were cut, we would face difficulties
to honour our foreign debt in the future," Funaro said.
    "There is evidently a common interest in the matter," he said.
    Funaro said, however, he was told creditors understand
Brazil's position and do not wish to turn the negotiation for
the renewal of the credit lines more difficult.
    Brazil last month suspended interest payments on its 68-
billion dlrs debt to commercial banks and froze short-term
trade and money market lines.
    He said Brazil's suggestion is part of its demands "before
the need to renew the mechanisms of loans in the world."
    Funaro said currently debt negotiations are "very complex
and complicated," mentioning cases of countries which had to
wait some 10 months before getting a reply from creditors.
    "We are not interested in confrontation, but we would like
the loan mechanisms to show that the crisis belongs to both
sides," Funaro said.
    Funaro denied rumours that he had offered his resignation
to President Jose Sarney.
    "Who decides whether to keep or dismiss his ministers is the
president. Everything else is nothing but speculation," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15490" NEWID="9970">
<DATE>26-MAR-1987 11:44:36.08</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1558&#31;reute
d f BC-HEALTHMATE-INC-&lt;HMTE>   03-26 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTHMATE INC &lt;HMTE> 4TH QTR LOSS</TITLE>
<DATELINE>    NORTHBROOK, ILL., March 26 -
    </DATELINE><BODY>Shr loss five cts vs loss six cts
    Net loss 473,784 vs loss 489,257
    Revs 268,797 vs 81,725
    Avg shrs 9,245,247 vs 8,035,326
    Year
    Shr loss 17 cts vs loss 20 cts
    Net 1,512,534 vs loss 1,553,592
    Revs 1,448,310 vs 515,225
    Avg shrs 8,745,132 vs 7,619,863
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15491" NEWID="9971">
<DATE>26-MAR-1987 11:44:48.86</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1559&#31;reute
u f BC-USAIR-&lt;U>-CLEARED-TO   03-26 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>USAIR &lt;U> CLEARED TO BUY PIEDMONT &lt;PIE> SHARES</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>USAir Group Inc said the U.S.
Department of Transportation has issued an order allowing it to
purchase and hold in a voting trust the 9,309,394 Piedmont
Aviation Inc shares USAir is seeking in its current 69 dlr per
share tender offer.
    The company said the new order supersedes an order issued
by the department last Friday that would have required USAir to
sell within one week of expiration of the tender any Piedmont
shares it held in excess of 51 pct of the Piedmont stock then
outstanding.
    The company said the 9,309,394 Piedmont shares, together
with the 2,292,599 Piedmont shares already owned by USAir,
constitute about 50.1 pct of Piedmont's shares on a
fully-diluted basius but about 61.0 pct of shares currently
outstanding.
    The shares are to be held in a voting trust pending the
department's review of USAir's application to obtain control of
Piedmont.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15493" NEWID="9972">
<DATE>26-MAR-1987 11:45:09.03</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1561&#31;reute
f f BC-******FED-SETS-TWO-BI   03-26 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED SETS TWO BILLION DLR CUSTOMER REPURCHASE, FED SAYS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15492" NEWID="9973">
<DATE>26-MAR-1987 11:45:27.54</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1563&#31;reute
u f BC-HOUSE-OF-FABRICS-INC   03-26 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE OF FABRICS INC &lt;HF> 4TH QTR JAN 31 NET</TITLE>
<DATELINE>    SHERMAN OAKS, Calif., March 26 -
    </DATELINE><BODY>Shr 34 cts vs 20 cts
    Net 2,253,000 vs 1,332,000
    Sales 89.7 mln vs 85.9 mln
    Year
    Shr 94 cts vs 64 cts
    Net 6,191,000 vs 4,257,000
    Sales 316.4 mln vs 286.7 mln
    NOTE: Prior year net both periods includes 2,100,000 dlr
charge from sale of Craft Showcase stores.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15494" NEWID="9974">
<DATE>26-MAR-1987 11:45:37.17</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1564&#31;reute
w f BC-gERMAN-RETAILERS-EXPE   03-26 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN RETAILERS EXPECT GOOD 1987</TITLE>
<DATELINE>    BONN, March 26 - </DATELINE><BODY>West German retailers expect another good
year in 1987 even though they will not be able to repeat the
sharp increase in turnover they enjoyed in 1986, the General
Association of the German Retail Trade (HDE) said.
    HDE President Wolfgang Hinrichs said retailers would be
satisfied with a real turnover increase of between 2.5 pct to
three pct in 1987 after last year's steep 3.7 pct rise.
    Hinrichs said the 1986 turnover increase had brought the
first hesitant signs of improvement in earnings in the West
German retail sector.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15495" NEWID="9975">
<DATE>26-MAR-1987 11:46:03.34</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1565&#31;reute
u f BC-GERMAN-WAGE-ROUND-SAI   03-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN WAGE ROUND SAID TO LIMIT MONETARY OPTIONS</TITLE>
<AUTHOR>    By Allan Saunderson, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, March 26 - </DATELINE><BODY>The Bundesbank's options for West
Germany monetary policy are limited for the foreseeable future
by the delicate stage of wage negotiations between unions and
employers, economists and money market dealers said.
    Call money fell in quite active trading today, dropping to
3.40/50 pct from 3.55/65 pct yesterday, and below the 3.50 pct
treasury bill rate as a difficult month-end approached.
    But dealers and economists said the Bundesbank was unlikely
to encourage lower rates in the foreseeable future largely for
fear of upsetting the current wage round.
    One money market dealer for a major foreign bank said, "I
don't think the Bundesbank wants rates to go up whatever
happens. But it also does not want them to fall. Above all it
wants to wait to see how the unions wage round goes."
    In West Germany, unions and employers prepare the ground
for triennial wage negotiations based on detailed assessments
of growth and inflation, economists said.
    Ute Geipel, economist with Citibank AG, said if the
Bundesbank became more accommodating in monetary policy,
raising fears in some quarters of a return in inflation in the
medium term, unions would be obliged to curtail wage demands.
    As a result the Bundesbank was concerned to make no move
that would interfere in the negotiating process, Geipel said.
    In the current round, the country's most powerful union,
the IG Metall representing metalworkers and engineers, is
demanding a shortening of the working week to 35 hours from the
present 38-1/2 and an accompanying five pct increase in wages.
    The engineering employers' association, Gesamtmetall, is
offering to bring in a 38-hour-week from July 1, 1988, and give
a two stage wage increase -- a 2.7 pct rise from April 1 this
year and another 1.5 pct from July 1, 1988.
    The agreement forged by IG Metall -- Europe's largest
union, with 2.5 mln members -- and the employers would set the
benchmark for settlements in other industries such as the
public sector, banks and federal post office. Negotiations
began in December and unions are hopeful they may conclude by
early April, ahead of the traditional holiday period in June.
    Though many economists said the unions' current warning
strikes and rhetoric were part of the negotiating strategy and
would not lead to a repeat of 1984's damaging seven-week
strikes, others said unions would not compromise greatly on
their positions and there could still be conflict.
    This could extend the length of time in which the
Bundesbank would keep its activity low-key, economists said.
    The money market head said the unions' humiliation by the
protracted financial problems of the Neue Heimat cooperative
housing venture would contribute to union obstinacy.
    "The unions haven't forgotten that and they will put this
squarely onto the account in the negotiations," he said.
    In addition, the newly-elected chairman of the IG Metall
union, Franz Steinkuehler, was more radical and determined than
his predecessor Hans Meyer and may be set for a longer battle
to achieve the best possible settlement for his membership.
    More than 16,000 engineering workers at 45 firms, mainly in
south Germany, held warning strikes lasting up to two hours
yesterday. Firms hit included Zahnradfabrik Passau GmbH and
aerospace group Messerschmitt-Boelkow-Blohm GmbH.
    Today, 28,000 employees from 110 companies came out in
warning strikes, a statement from IG Metall said.
    Money market dealers said that overnight call money rates
would rise in the near future in any case and did not depend on
a politically-inhibited Bundesbank.
    About eight billion marks were coming into the market
tomorrow from salary payments by the federal government.
    As a result, some banks fell back on the Bundesbank's offer
to mop up liquidity via the sale of three-day treasury bills,
anticipating still lower rates before the month-end.
    But a pension payment date by banks on behalf of customers
was due on Monday, other dealers noted. If banks were short of
liquidity until the bills matured on Tuesday, rates could soar,
perhaps to the 5.50 pct Lombard ceiling.
    Banks were well stocked up with funds, having an average
52.1 billion marks in Bundesbank minimum reserves in the first
24 days of March, well above the 50.7 billion requirement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15496" NEWID="9976">
<DATE>26-MAR-1987 11:46:40.31</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1567&#31;reute
h f BC-FOREIGN-FIRMS-HOPE-TO   03-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN FIRMS HOPE TO JOIN JAPAN TELECOM COMPANY</TITLE>
<DATELINE>    TOKYO, March 26 - </DATELINE><BODY>President Nobuo Ito of International
Telecom Japan Inc (ITJ), one of two rival firms seeking to
enter Japan's international telecommunications market, said it
will offer a stake in the company to 10 foreign firms.
      But he declined to specify what share the firms would
take, and told Reuters they would not participate in its
management.
    ITJ and International Digital Communications Planning Inc
(IDC), in which both Cable and Wireless Plc and Pacific Telesis
Group own 20 pct stakes, are set to merge into a new entity to
compete against Kokusai Denshin Denwa Co Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15497" NEWID="9977">
<DATE>26-MAR-1987 11:46:51.72</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1568&#31;reute
r f BC-SIEMENS-RAISES-STAKE   03-26 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SIEMENS RAISES STAKE IN TELECOM PLUS OF U.S.</TITLE>
<DATELINE>    MUNICH, West Germany, March 26 - </DATELINE><BODY>Siemens AG's &lt;SIEG.F>
fully-owned subsidiary Siemens Informations Systems Inc. Has
raised its stake in &lt;Telecom Plus Communications Inc.> by 65
pct to 100 pct, a Siemens spokesman said.
    He added that Telecom Plus Communications was the largest
independent supplier of telephone exchange systems in the U.S.
And had turnover of 234 mln dlrs in 1986.
   The stake had been acquired from Telecom Plus International
Inc. The spokesman declined to comment on U.S. Newspaper
reports that the purchase price totalled 173 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15498" NEWID="9978">
<DATE>26-MAR-1987 11:47:02.79</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1569&#31;reute
r f BC-FIRST-INTERSTATE-SEEK   03-26 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST INTERSTATE SEEKS ACQUISITION</TITLE>
<AUTHOR>    by Janie Gabbett</AUTHOR>
<DATELINE>    LOS ANGELES, March 26 - </DATELINE><BODY>Less than two months after First
Interstate Bancorp withdrew its bold attempt to buy BankAmerica
Corp, Chairman Joseph Pinola is still looking for a good buy,
but he is also looking at ways to avoid being bought.
    In a wide-ranging interview, Pinola said he's looking for
ways to improve profitability and capital between now and 1991,
"so as to resist any potential look at us...to maintain our
independence, if possible."
    In 1991 federal regulatory changes will allow the major
East Coast banks to buy banks in California.
    First Interstate, the fourth largest California bank, and
the nineth largest nationwide, owns 24 banks in 12 western
states and has franchise operations in four additional states.
    Bank industry sources say it is an attractive target for
large U.S. or foreign banks, looking to quickly move into the 
lucrative California market and the West Coast region.
    While declining specifics on his corporate strategy, when
asked if acquisitions will be part of the plan, Pinola replied,
"That's undoubtedly a fair statement...it would be almost naive
not to think that."
    Pinola characterized his acquisition strategy as
"opportunistic".
    He said he will look for banks in management trouble that
he can get at a bargain, then add management to restore
profitability, or for banks in states where First Interstate
already operates, then cut costs by combining resources.
    The exception, he said, would be Texas, where he said most
of the banks are already well managed, but might be purchased
at a discount because of the depressed regional economy.
    Pinola declined comment on what circumstances might move
him to rekindle his bid for BankAmerica, saying only, "We
continue to monitor and look at a lot of things and a lot of
people continue to monitor and look at us."
    Banking analysts, however, consider another First
Interstate bid at BankAmerica a long shot, not likely to happen
any time soon.
    Pinola called his decision last month to withdraw his 3.25
billion dlr bid at the nation's second largest bank, "a very,
very difficult decision."
    With that decision made, however, he acknowledged First
Interstate may now have a difficult time keeping its number
four position in the California banking community.
    "The competition in this state is tough," he said, noting
CityBank's recent purchase of 50 financial service branches
from Sears Roebuck company. "CityBank is moving rapidly to move
us down to fifth and Wells Fargo down to fourth," he said.
    Outside California, Pinola acknowledged that Security
Pacific Corp, with its recent acquisitions in Arizona,
Washington and Oregon, is quickly becoming a regional
competitor in areas where First Interstate has long dominated.
    "Security is, has been and continues to be a highly
profitable and obviously well managed company," he said.
    He added, however, First Interstate, at the moment, has the
advantages of having owned and managed regional banks longer
and has the recognition advantage of having given its regional
banks a common name.
    Pinola said while its coastal state banks are in good
financial condition, First Interstate continues to sustain
serious loan losses in its Rocky Mountain states, where energy,
real estate and agriculture dominate the economy.
    Asked if he thought loan losses in those areas had peaked,
he said, "I don't think it has bottomed out, because I think
most of the problems are real estate-related and the real
estate problems are going to be with us for several years."
    Pinola said another failing economic sector, agriculture in
the Midwest, has slowed expansion of First Interstate's
franchise operation.
    First Interstate has 42 franchise banks that offer First
Interstate financial services in ten states.
    While a year ago he was considering taking his franchise
operation east of the Mississippi River, Pinola said because
most of the franchise banks are now in the West, expansion into
the Midwest must come first.
    Calling the franchise system, "moderately profitable,"
Pinola said, "It is going to take a rejuvenation of the
agriculture sector for us to commence franchising at the speed
we were generating before the last year or two."
    On the banking industry in general, Pinola said he thinks
1987 will be another bad year for loan losses, with only banks
with minimal holdings in real estate able to improve profits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15499" NEWID="9979">
<DATE>26-MAR-1987 11:48:50.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1580&#31;reute
r f BC-ATLANTIC-RESEARCH-&lt;AT   03-26 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>ATLANTIC RESEARCH &lt;ATRC> WINS MOTOR CONTRACT</TITLE>
<DATELINE>    ALEXANDRIA, Va., March 26 - </DATELINE><BODY>Atlantic Research Corp said its
propulsion division won a contract valued at 54 mln dlrs from
the missiles unit of LTV Corp's &lt;QLTV> LTV Missiles and
Electronics Group.
    The contract authorizes the fifth year increment of a
multiyear contract to make solid-propellant rocket motors for
the U.S. Army's Multiple Launch Rocket System, the company
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15501" NEWID="9980">
<DATE>26-MAR-1987 11:50:35.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1589&#31;reute
r f BC-THOMAS-AND-BETTS-&lt;TNB   03-26 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMAS AND BETTS &lt;TNB> FILES PATENT SUIT</TITLE>
<DATELINE>    RARITAN, N.J., March 26 - </DATELINE><BODY>Thomas and Betts Corp said it
filed a patent infringement suit against three companies in
connection with the manufacture and sale of its 50 Position
Transition "D" Subminiature IDC electronic connectors.
    The company said the suit was filed in U.S. District Court
for the District of Delaware. Named in the suit were &lt;Carrot
Components Corp>, &lt;ODU-Kontact GmbH and Co> and &lt;KG and G and H
Technologies Inc>, it said.
    Thomas and Betts said it is seeking an injunction to
prevent the future sale of the connectors, as well as damages.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15502" NEWID="9981">
<DATE>26-MAR-1987 11:50:43.97</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1590&#31;reute
r f BC-HOUSE-OF-FABRICS-&lt;HF>   03-26 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE OF FABRICS &lt;HF> SEES RESULTS IMPROVING</TITLE>
<DATELINE>    SHERMAN OAKS, Calif., March 26 - </DATELINE><BODY>House of Fabrics Inc said
it expects growth in earnings and revenues as the current
fiscal year progresses.
    It said it will open about 50 super stores this year. 
House of Fabrics now operates 703 stores.
    The company today reported earnings for the year ended
January 31 of 6,191,000 dlrs on sales of 316.4 mln dlrs, up
from prior year earnings of 4,257,000 dlrs on sales of 286.7
mln dlrs.  The prior year earnings included a 2,100,000 dlr
charge for the disposition of Craft Showcase stores.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15503" NEWID="9982">
<DATE>26-MAR-1987 11:51:13.92</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f1593&#31;reute
u f BC-U.S.-SENATE-HITS-EC-O   03-26 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE HITS EC OILS TAX, VOWS RETALIATION</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>The Senate voted to condemn the
proposed European common market tax on vegetable and fish fats
and oils and said it would result in retaliation.
    The non binding Senate resolution, a sense of Senate
sentiment, was approved on a 99 to 0 vote.
    "The administration should communciate to the European
Community the message that the United States will view the
establishment of such a tax as inconsistent with the European
Community's obligations under the General Agreement on Tariffs
and Trade that will result in the adoption of strong and
immediate countermeasures," the resolution stated.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15504" NEWID="9983">
<DATE>26-MAR-1987 11:51:22.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1595&#31;reute
r f BC-CROP-GENETICS-INITIAL   03-26 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>CROP GENETICS INITIAL OFFERING UNDERWAY</TITLE>
<DATELINE>    HANOVER, Md., March 26 - </DATELINE><BODY>&lt;Crop Genetics International Corp>
said an initial public offering of 1,600,000 common shares is
underway at 14.50 dlrs per share through underwriters led by
&lt;Drexel Burnham Lambert Inc>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15505" NEWID="9984">
<DATE>26-MAR-1987 11:51:43.01</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;f1597&#31;reute
u f BC-KODAK-&lt;EK>-BUYS-STAKE   03-26 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>KODAK &lt;EK> BUYS STAKE IN BIOTECHNOLOGY COMPANY</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 26 - </DATELINE><BODY>Eastman Kodak Co said it has
reached an agreement to acquire new stock representing a 16 pct
interest in industrial biotechnology company &lt;Genencor Inc> for
undisclosed terms.
    Other Genencor shareholders include Staley Continental Inc
&lt;STA>, Corning Glass Works &lt;GLW> and Genentech Inc &lt;GENE>.
    The company said it has been granted options to increase
its equity stake during 1987.  It said it has agreed to make a
multiyear, multimillion dollar commitment to Genecor research
products related to food additivies and pharmaceutical
intermediates.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15506" NEWID="9985">
<DATE>26-MAR-1987 11:51:57.88</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1599&#31;reute
u f BC-AVERY-&lt;AVY>-1ST-QTR-F   03-26 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>AVERY &lt;AVY> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    PASADENA, Calif., March 26 -
    </DATELINE><BODY>Shr 33 cts vs 30 cts
    Net 13.0 mln vs 11.9 mln
    Sales 330.8 mln vs 249.7 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15507" NEWID="9986">
<DATE>26-MAR-1987 11:52:23.53</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;f1602&#31;reute
r f BC-FORD-&lt;F>-CREDIT-UNIT   03-26 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> CREDIT UNIT SELLS NEW ZEALAND DLR FRNS</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Ford Motor Credit Co, a unit of Ford
Motor Co, is offering in the domestic debt market 100 mln New
Zealand dlrs of floating-rate notes due 1990, said sole manager
Bear, Stearns and Co.
    The initial rate for the notes will be set on April 15 at
200 basis points below the 90-day New Zealand bank bill rate.
After that, the rate will be reset quarterly.
    Non-callable to maturity, the issue pays quarterly and is
rated A-1 by Moody's and AA-minus by S and P. Underwriters said
floaters denominated in a foreign currency are a new wrinkle on
Wall Street.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15508" NEWID="9987">
<DATE>26-MAR-1987 11:53:05.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1607&#31;reute
r f BC-IONICS-&lt;ION>-WINS-20-   03-26 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>IONICS &lt;ION> WINS 20-YEAR DESALINATION CONTRACT</TITLE>
<DATELINE>    WATERTOWN, Mass., March 26 - </DATELINE><BODY>Ionics Inc said it received a
20-year seawater desalination contract valued at more than 50
mln dlrs over the life of the contract from (Electrica
Maspalomas SA), a water utility in Grand Canary Island, Spain.
    The contract supplements a previously announced 15-year
contract to supply desalted brackish water in the same
geographical area. That contract is currently valued at 60 mln
dlrs.
    The stated value of the new contract excludes escalation
and possible future increases in capacity, Ionics said. It
calls for the supply of 1.7 mln gallons a day of drinking water
on Grand Canary Island in Spain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15509" NEWID="9988">
<DATE>26-MAR-1987 11:53:35.08</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1610&#31;reute
b f BC-/-FED-SETS-TWO-BILLIO   03-26 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>FED SETS TWO BILLION DLR CUSTOMER REPURCHASE</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>The Federal Reserve entered the U.S.
government securities market to arrange two billion dlrs of
customer repurchase agreements, a spokeswoman for the New York
Fed said.
    Federal funds were trading at 6-3/16 pct at the time of the
indirect injection of temporary reserves.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15510" NEWID="9989">
<DATE>26-MAR-1987 11:55:20.13</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1621&#31;reute
d f BC-SENATE-SEEKS-U.S.-PRO   03-26 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SENATE SEEKS U.S. PROBE OF CANADIAN CORN LEVY</TITLE>
<DATELINE>    WASHINGTON, March 26 - </DATELINE><BODY>The Senate voted unanimously to seek
an expedited U.S. probe of Canadian tariffs on corn imports to
determine if the United States should retaliate.
    By 99 to 0, the Senate went on record against the 84.9
cents per bushel tariff approved by the Canadian Import
Tribunal.
    The non binding measure asked for a probe by the U.S. Trade
Representative to determine within 30 days whether the tariff
violates the General Agreement on Tariffs and Trade, and if so
recommend within 60 days to President Reagan retaliatory action
against Canada.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15511" NEWID="9990">
<DATE>26-MAR-1987 11:55:28.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1622&#31;reute
d f BC-RICOH-REORGANIZES-U.S   03-26 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>RICOH REORGANIZES U.S. UNITS</TITLE>
<DATELINE>    WEST CALDWELL, N.J., March 26 - </DATELINE><BODY>Ricoh Corp, the U.S. unit
of Japan-based &lt;Ricoh Ltd>, said it merged Ricoh Systems Inc
into Ricoh Corp.
    The U.S. unit also purchased Ricoh Electronics Inc from the
parent company.
    The company said the reorganization unites the sales,
research and development, and manufacturing operations of all
the U.S. units.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15512" NEWID="9991">
<DATE>26-MAR-1987 11:55:50.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1625&#31;reute
w f BC-UNITED-WATER-&lt;UWR>,-B   03-26 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED WATER &lt;UWR>, BASE TEN &lt;BASE> SET VENTURE</TITLE>
<DATELINE>    HARRINGTON PARK, N.J., March 26 - </DATELINE><BODY>United Water Resources
Inc said it formed a venture with Base Ten Systems Inc's Base
Ten Telecom Inc to sell a telephone-based automatic meter
reading system to the utility industry.
    United Water Resources, parent of Hackensack and Spring
Valley Water Cos, said it will provide marketing and customer
support for Base Ten's automatic meter reading system.
    The company said it will install the system for 168,000
commercial and residential customers this spring.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15513" NEWID="9992">
<DATE>26-MAR-1987 11:55:52.94</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1626&#31;reute
s f BC-KNIGHT-RIDDER-INC-&lt;KR   03-26 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>KNIGHT-RIDDER INC &lt;KRN> SETS QUARTERLY</TITLE>
<DATELINE>    MIAMI, March 26 -
    </DATELINE><BODY>Qtly div 25 cts vs 25 cts prior
    Pay April 13
    Record April Six
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15514" NEWID="9993">
<DATE>26-MAR-1987 11:55:56.53</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1627&#31;reute
s f BC-TECHNITROL-INC-&lt;TNL>   03-26 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>TECHNITROL INC &lt;TNL> SETS QUARTERLY</TITLE>
<DATELINE>    PHILADELPHIA, March 26 -
    </DATELINE><BODY>Qtly div 12 cts vs 12 cts prior
    Pay April 21
    Record April Seven
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15515" NEWID="9994">
<DATE>26-MAR-1987 11:59:22.92</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;f1640&#31;reute
d f BC-NATIONWIDE-CELLULAR-S   03-26 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONWIDE CELLULAR SERVICE INC &lt;NCEL> 4TH QTR</TITLE>
<DATELINE>    VALLEY STREAM, N.Y., March 26 -
    </DATELINE><BODY>Shr loss six cts vs loss 18 cts
    Net loss 89,478 vs loss 178,507
    Revs 3,894,844 vs 1,964,141
    Avg shrs 1,582,790 vs one mln
    Year
    Shr loss 43 cts vs loss 81 cts
    Net loss 534,099 vs loss 811,836
    Revs 12.2 mln vs 5,167,573
    Avg shrs 1,251,337 vs one mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15516" NEWID="9995">
<DATE>26-MAR-1987 12:01:55.00</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;f1652&#31;reute
r f BC-aha-automotive-tech   03-26 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;A.H.A. AUTOMOTIVE TECHNOLOGIES CORP> YEAR NET</TITLE>
<DATELINE>    BRAMPTON, Ontario, March 26 -
    </DATELINE><BODY>Shr 43 cts vs 52 cts
    Shr diluted 41 cts vs 49 cts
    Net 1,916,000 vs 2,281,000
    Revs 32.6 mln vs 22.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15517" NEWID="9996">
<DATE>26-MAR-1987 12:05:59.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1680&#31;reute
b f BC-BRAZIL-SUGGESTS-60-DA   03-26 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL SUGGESTS 60-DAY SHORT-TERM CREDIT EXTENSION</TITLE>
<DATELINE>    BRASILIA, March 26 - </DATELINE><BODY>Brazil today suggested to its foreign
bank creditors an extension of short-term credit lines for 60
days until May 31, a spokesman for the Central Bank said.
    He said that with the move, called a "standstill"
arrangement, Brazil was only trying to avoid difficulties in
paying its 109 billion dlrs of debt in the future.
    The spokesman told Reuters that Brazil's suggestion will be
communicated by telex to Brazil's 700 bank creditors. He
declined to give details of the statement, but said Central
Bank president Francisco Gros was seeking a 60-day extension of
short-term credit lines from its commercial bank creditors.
    The amount of these credit lines totals 15 billion dlrs,
and deadline for payment is set for March 31.
    Finance Minister Dilson Funaro said in a television
interview that it was "absolutely important" for Brazil and its
creditors to renew the short-term credit lines, as Brazil must
finance its exports.
    "If these credit lines were cut, we would face difficulties
to honour our foreign debt in the future," Funaro said.
    "There is evidently a common interest in the matter," he
said.
    Funaro said, however, he was told creditors understand
Brazil's position and do not wish to make the negotiation for
the renewal of the credit lines more difficult.
    Funaro explained that Brazil's suggestion is part of its
demands "before the need to renew the mechanisms of loans in the
world."
    He said that the current negotiating process is "very
complex and complicated," mentioning cases of countries which
had to wait some 10 months before getting a reply from
creditors.
    "We are not interested in confrontation, but we would like
the loan mechanisms to show that the crisis belongs to both
sides," Funaro said.
    Funaro denied rumours that he had offered his resignation
to President Jose Sarney.
    "Who decides whether to keep or dismiss his ministers is the
president. Everything else is nothing but speculation," he said.
    Brazil last month suspended interest payments on its 68-
billion dlrs of debt to commercial banks and froze short-term
trade and money market lines.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15518" NEWID="9997">
<DATE>26-MAR-1987 12:09:31.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1708&#31;reute
r f BC-EMHART-&lt;EMH>-WINS-FOU   03-26 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>EMHART &lt;EMH> WINS FOUR COMMUNICATIONS CONTRACTS</TITLE>
<DATELINE>    FARMINGTON, Conn., March 26 - </DATELINE><BODY>Emhart Corp said it received
four contracts valued at a total of seven mln dlrs to design,
develop and install data communications and automated
dispatching systems.
    The company said its Planning Research Corp unit, which
received the contracts, will do the work for the city of Grand
Rapids, Mich., the New Jersey Transit Authority, the Los
Angeles County Sheriff's office and the city of Calgary,
Alberta, Canada.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15519" NEWID="9998">
<DATE>26-MAR-1987 12:10:10.53</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;f1711&#31;reute
r f BC-FLUOR-&lt;FLR>-AND-UNITS   03-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>FLUOR &lt;FLR> AND UNITS DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded 360 mln dlrs of debt of Fluor Corp and its units
Fluor Finance N.V. and St. Joe Minerals Corp.
    Cut were the firms' senior debt to BB from BBB and the
parent's commercial paper to B from A-2.
    S and P cited industry overcapacity and weak pricing
conditions in Fluor's core businesses. It said profitability
and cash flow protection are not expected to rebound in the
foreseeable future to levels that would support the former
ratings. Restructuring has not compensated for a greater than
anticipated deterioration in market conditions, S and P said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15520" NEWID="9999">
<DATE>26-MAR-1987 12:11:33.18</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;f1719&#31;reute
r f BC-BRUNSWICK-CORP-&lt;BC>-S   03-26 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>BRUNSWICK CORP &lt;BC> SELLS NOTES AT 8.199 PCT</TITLE>
<DATELINE>    NEW YORK, March 26 - </DATELINE><BODY>Brunswick Corp is raising 100 mln dlrs
through an offering of notes due 1997 yielding 8.199 pct, lead
manager Shearson Lehman Brothers Inc said.
    The notes have an 8-1/2 pct coupon and were priced at 99.50
to yield 96 basis points over comparable Treasury securities.
    The issue is non-callable for life and rated Baa-1 by
Moody's Investors Service Inc and BBB-plus by Standard and
Poor's Corp.
    Salomon Brothers co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="15521" NEWID="10000">
<DATE>26-MAR-1987 12:11:42.51</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1720&#31;reute
r f BC-ROGERS-&lt;ROG>-SEES-1ST   03-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ROGERS &lt;ROG> SEES 1ST QTR NET UP SIGNIFICANTLY</TITLE>
<DATELINE>    HARTFORD, Conn., March 26 - </DATELINE><BODY>Rogers Corp said first quarter
earnings will be up significantly from earnings of 114,000 dlrs
or four cts share for the same quarter last year.
    The company said it expects revenues for the first quarter
to be "somewhat higher" than revenues of 32.9 mln dlrs posted
for the year-ago quarter.
    Rogers said it reached an agreement for the sale of its
molded switch circuit product line to a major supplier.
    The sale, terms of which were not disclosed, will be
completed early in the second quarter, Rogers said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
