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training/6759
|
training/6759 |@title ensource:1 inc:1 eee:1 4th:1 qtr:1 loss:1 |@word shr:2 loss:8 60:1 ct:1 vs:6 6:3 50:1 dlrs:3 net:2 2:2 012:1 000:1 21:1 9:1 mln:7 revs:2 8:1 13:1 5:3 year:1 1:2 04:1 96:1 3:1 20:1 36:1 52:1
|
ENSOURCE INC <EEE> 4TH QTR LOSS
Shr loss 60 cts vs loss 6.50 dlrs
Net loss 2,012,000 vs loss 21.9 mln
Revs 8.6 mln vs 13.5 mln
Year
Shr loss 1.04 dlrs vs loss 5.96 dlrs
Net loss 3.5 mln vs loss 20.2 mln
Revs 36.6 mln vs 52.1 mln
|
training/6760
|
training/6760 |@title mexican:1 hydrocarbon:1 reserve:1 fall:1 slightly:1 1986:1 |@word mexico:1 prove:1 reserve:2 liquid:1 hydrocarbon:2 end:1 1986:3 70:2 billion:8 barrel:3 slightly:1 9:1 year:2 ago:1 71:1 75:1 1984:1 state:1 oil:3 company:2 petroleos:1 mexicanos:1 pemex:2 announce:1 5:1 77:1 1974:1 rise:1 sharply:1 40:1 19:1 1978:1 flatten:1 72:1 1981:1 1982:1 annual:1 report:1 say:3 average:2 crude:2 output:2 2:1 43:2 mln:3 per:2 day:2 202:1 000:1 bpd:3 1985:2 export:1 1:2 29:1 44:1 percentage:1 previouly:1 48:1 pct:2 natural:1 gas:1 3:2 cubic:1 foot:1 6:1 due:1 mainly:1 fall:1 price:1 around:1 12:1 dlrs:2 25:1 58:1 well:1 exploratory:1 production:2 suspend:1 38:1 less:1 productive:1 area:1 offshore:1 campeche:1 field:1 account:1 64:1
|
MEXICAN HYDROCARBON RESERVES FALL SLIGHTLY IN 1986
mexico's proven reserves of liquid
hydrocarbons at end-1986 were 70 billion barrels, slightly down
from 70.9 billion a year ago and 71.75 billion in 1984, the
state oil company petroleos mexicanos (pemex) announced.
Reserves were just 5.77 billion barrels in 1974, rose
sharply to 40.19 billion in 1978 and flattened out at 72
billion in both 1981 and 1982.
In its annual report, pemex said average crude output in
1986 was 2.43 mln barrels per day, 202,000 bpd down on 1985.
Average exports were 1.29 mln bpd, down from 1.44 mln bpd.
The company did not say what percentage of hydrocarbons was
crude oil, but has previouly said it was about 48 pct.
Natural gas output in 1986 was 3.43 billion cubic feet per
day, down from 3.6 billion in 1985.
Due mainly to the fall in oil prices to around 12 dlrs from
25 dlrs in the year, 58 wells, both exploratory and production,
were suspended, 38 of them in less productive areas than the
offshore campeche fields which accounted for 64 pct of
production.
|
training/6761
|
training/6761 |@title great:1 lakes:1 federal:1 glfs:1 hike:1 dividend:1 |@word qtly:1 div:1 15:1 ct:2 vs:1 10:1 prior:1 qtr:1 pay:1 17:1 april:2 record:1 3:1 note:1 great:1 lakes:1 federal:1 saving:1 loan:1 full:1 name:1 company:1
|
GREAT LAKES FEDERAL <GLFS> HIKES DIVIDEND
Qtly div 15 cts vs 10 cts prior qtr
Pay 17 April
Record 3 April
NOTE: Great Lakes Federal Savings and Loan is full name of
company.
|
training/6762
|
training/6762 |@title murray:1 ohio:1 myo:1 see:1 high:1 1st:1 qtr:1 earning:1 |@word murray:1 ohio:1 manufacturing:1 co:1 say:2 expect:1 first:2 quarter:2 earning:2 high:1 4:1 800:1 840:1 dlrs:2 1:1 25:1 per:1 share:1 record:2 last:2 year:2 company:1 produce:1 lawn:2 mower:1 bicycle:1 ahead:1 due:1 increase:1 garden:1 shipment:1 january:1 february:1 set:1 pace:1 march:1
|
MURRAY OHIO <MYO> SEES HIGHER 1ST QTR EARNINGS
The Murray Ohio Manufacturing
Co said it expects first quarter earnings to be higher than the
4,800,840 dlrs, or 1.25 dlrs per share, it recorded for the
first quarter of last year.
The company, which produces lawn mowers and bicycles, said
earnings are ahead of last year due to increased lawn and
garden shipments in January and February and a record-setting
pace in March.
|
training/6763
|
training/6763 |@title alleghany:1 corp:1 declare:1 1987:1 dividend:1 |@word alleghany:2 corp:1 say:3 board:1 declare:1 stock:2 dividend:3 one:1 share:3 common:1 every:1 50:1 outstanding:1 company:2 1987:1 distribute:1 april:1 30:2 holder:1 record:1 march:1 cash:1 pay:1 lieu:1 fractional:1
|
ALLEGHANY CORP <Y> DECLARES 1987 DIVIDEND
Alleghany Corp said its board
declared a stock dividend of one share of its common for every
50 shares outstanding, as the company's dividend on its company
for 1987.
It said the dividend will be distributed on April 30, to
holders of record on March 30.
Alleghany said cash will be paid in lieu of any fractional
shares of its stock.
|
training/6764
|
training/6764 |@title house:1 subcommittee:1 vote:1 credit:1 card:1 rate:1 cap:1 |@word house:2 banking:2 subcommittee:3 approve:1 legislation:1 limit:3 interest:2 rate:3 charge:1 bank:1 credit:3 card:3 issuer:1 consumer:1 affair:1 coinage:1 bill:3 would:2 eight:1 percentage:1 point:1 yield:1 one:1 year:1 treasury:1 security:1 effect:1 13:1 8:1 pct:2 compare:1 nation:1 wide:1 average:1 18:1 say:1 go:1 full:1 committee:1 action:1
|
HOUSE SUBCOMMITTEE VOTES CREDIT CARD RATE CAP
A House Banking subcommittee has
approved legislation to limit the interest rates charged by
banks and other credit card issuers.
The Consumer Affairs and Coinage subcommittee bill would
limit credit card interest rates at eight percentage points
above the yield on one-year Treasury securities.
If in effect now, the bill would limit credit card rates to
13.8 pct compared to a nation-wide average of 18 pct, the
subcommittee said.
The bill now goes to the full House Banking committee for
further action.
|
training/6765
|
training/6765 |@title premier:1 industrial:1 corp:1 pre:1 3rd:1 qtr:1 net:1 |@word end:1 feb:1 28:1 shr:2 39:1 ct:2 vs:7 35:1 net:2 11:1 5:1 mln:10 10:1 4:1 revs:2 111:1 0:2 104:1 6:2 nine:1 mth:1 1:2 16:1 dlrs:2 04:1 34:1 3:1 30:1 8:1 335:1 2:1 320:1 avg:1 shrs:1 26:1 7:1 29:1
|
PREMIER INDUSTRIAL CORP <PRE> 3RD QTR NET
Ended Feb 28
Shr 39 cts vs 35 cts
Net 11.5 mln vs 10.4 mln
Revs 111.0 mln vs 104.6 mln
Nine mths
Shr 1.16 dlrs vs 1.04 dlrs
Net 34.3 mln vs 30.8 mln
Revs 335.2 mln vs 320.0 mln
Avg shrs 26.7 mln vs 29.6 mln
|
training/6767
|
training/6767 |@title union:2 uco:1 sell:1 flonetic:1 unit:1 |@word union:2 corp:2 say:1 agree:1 principle:1 sell:1 flonetics:1 subsidiary:1 irvin:1 kaplan:2 houston:1 investor:1 unit:1 make:1 valve:2 marine:1 specialty:1 equipment:1 military:1 also:1 control:1 shareholder:1 hunt:1 co:1 inc:1 amount:1 cash:1 transaction:1 expect:1 close:1 april:1 disclose:1
|
UNION <UCO> TO SELL UNION FLONETICS UNIT
Union Corp said it agreed
in principle to sell its Union Flonetics Corp subsidiary to
Irvin Kaplan, a Houston investor.
The unit makes valves and marine specialty equipment for
the military. Kaplan is also controlling shareholder of <Hunt
Valve Co Inc>.
The amount of the cash transaction, expected to close in
April, was not disclosed.
|
training/677
|
training/677 |@title versatile:1 build:1 polar:1 ice:1 breaker:1 |@word versatile:5 corp:1 shipbuilding:1 subsidiary:1 letter:1 intent:1 build:3 320:1 mln:3 dlr:1 polar:2 icebreaker:5 canadian:1 coast:2 guard:2 transport:1 minister:1 john:1 crosbie:3 say:6 vancouver:1 address:1 pacific:1 shipyards:1 inc:1 low:2 bidder:2 arctic:2 class:1 8:1 company:1 must:1 meet:1 certain:1 financial:1 engineering:1 condition:1 contract:2 award:2 government:4 also:1 announce:2 provide:1 13:1 dlrs:2 loan:1 insurance:1 help:1 prepare:1 construction:1 vessel:3 require:1 offer:1 assurance:1 shipyard:1 technically:1 financially:1 capable:1 perform:1 work:2 crosibie:1 bid:1 100:1 compete:1 generate:1 1:1 000:1 person:1 year:3 direct:1 employment:1 would:2 powerful:1 world:1 begin:1 next:1 complete:1 1992:1 plan:1 last:1 follow:1 controversial:1 passage:2 u:2 sea:1 dispute:1 northwest:1 seek:1 permission:1 journey:1 claim:2 area:1 international:1 water:1 way:1 need:1 back:1 country:1 sovereignty:1
|
VERSATILE TO BUILD POLAR ICE BREAKER
Versatile Corp's shipbuilding subsidiary
has a letter of intent to build a 320 mln dlr polar icebreaker
for the Canadian coast guard, Transport Minister John Crosbie
said.
In a Vancouver address, Crosbie said Versatile Pacific
Shipyards Inc was the low bidder to build the Arctic Class 8
icebreaker, but the company must meet certain financial and
engineering conditions before the contract is awarded.
The government also announced it will provide up to 13 mln
dlrs in loan insurance to help Versatile prepare for the
construction of the vessel.
said before the contract can be awarded Versatile 'will be
required to offer assurances that the shipyard is technically
and financially capable of performing the work.'
Crosibie said Versatile's bid was 100 mln dlrs lower than
competing bidders and will generate 1,000 person years of
direct employment.
Work on the vessel, which Crosbie said would be the most
powerful icebreaker in the world, would begin next year and
completed in 1992.
The government announced plans to build the icebreaker last
year following the controversial passage of the U.S. Coast
Guard's vessel, the Polar Sea, through the disputed Northwest
Passage. The U.S. government did not seek permission for the
journey, claiming the area was an international water way.
The government said the icebreaker was needed to back up
the country's claim of sovereignty in the Arctic.
|
training/6770
|
training/6770 |@title u:1 bank:1 income:1 show:1 first:1 drop:1 25:1 year:1 |@word problem:3 farmbelt:1 oilpatch:1 region:2 contribute:1 first:3 decline:1 overall:1 income:3 u:2 bank:15 quarter:3 century:1 federal:1 deposit:1 insurance:1 corp:1 fdic:5 say:11 nation:1 14:1 181:1 commercial:1 net:1 17:1 8:1 billion:5 dlrs:5 1986:1 slightly:1 1985:1 record:2 18:1 1:1 total:2 still:1 second:1 high:1 ever:1 report:3 time:3 grow:1 since:1 1961:1 figure:2 reflect:1 radical:1 split:1 health:1 two:1 half:1 country:1 east:1 one:4 12:1 loss:5 last:2 year:5 four:1 west:1 mississippi:1 river:1 nationwide:1 five:1 new:2 series:1 quarterly:1 banking:2 profile:1 plan:1 issue:1 remember:1 clear:1 distinction:1 geographic:1 area:1 chairman:1 william:1 seidman:5 tell:1 reporter:1 good:1 show:1 lie:1 system:1 whole:1 regional:1 difference:1 economic:1 performance:1 44:1 fail:2 far:1 twice:1 many:1 ago:2 doubt:1 pace:1 would:2 continue:1 positive:1 note:1 increase:3 capital:1 208:1 slowing:1 number:1 except:1 southwest:1 provision:1 bad:1 loan:1 fourth:2 21:1 7:1 23:1 pct:1 rise:1 large:1 asset:1 22:1 early:1 effect:1 brazil:1 moratorium:1 debt:1 interest:1 payment:1 deregulation:1 give:1 manager:1 freedom:2 run:1 failure:1 expect:1 regulatory:1 restraint:1 also:1 mean:1 better:1 manage:1 get:1 strong:1
|
U.S. BANK INCOME SHOWS FIRST DROP IN 25 YEARS
Problems in the farmbelt and
oilpatch regions contributed to the first decline in overall
income for U.S. banks in a quarter century, the Federal Deposit
Insurance Corp (FDIC) said.
The nation's 14,181 commercial banks had net income of 17.8
billion dlrs in 1986, down slightly from 1985's record 18.1
billion dlrs.
The total was still the second highest ever reported, but
it was the first time income had not grown since 1961.
The figures reflected a radical split in the health of
banks in the two halves of the country, the FDIC said.
In the East, one in 12 banks had losses last year, while
one in four banks west of the Mississippi River had losses.
Nationwide, one out of five banks reported losses, the FDIC
said in the first of a new series of quarterly banking profiles
it planned to issue.
'I don't remember a time when there was such a clear
distinction by geographic area,' FDIC Chairman William Seidman
told reporters.
He said that while the figures were not good, they showed
the problem did not lie with the banking system as a whole but
with regional differences in economic performance.
Some 44 banks have failed so far this year, twice as many
as failed by this time a year ago, but Seidman said he doubted
the pace would continue.
On a positive note, banks increased capital to a record 208
billion dlrs last year, and there has been a slowing in the
number of new problem banks in all regions except the
Southwest, Seidman said.
Banks' provision for losses from bad loans in the fourth
quarter increased to 21.7 billion dlrs, a 23 pct rise from a
year ago.
Large banks -- those with assets of one billion dlrs or
more -- reporting fourth-quarter losses totaled 22, the FDIC
said.
Seidman said it was too early to say what effect Brazil's
moratorium on debt interest payments would have on U.S. banks.
He said bank deregulation had given managers more freedom
to run their banks and that an increase in failures was to be
expected.
But this freedom from regulatory restraints also has meant
other banks that were better managed have gotten stronger,
Seidman said.
|
training/6771
|
training/6771 |@title somerset:1 savings:1 bank:1 sosa:1 4th:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 55:1 ct:1 vs:6 na:1 net:3 2:2 512:1 000:4 773:1 year:1 7:2 123:1 3:1 098:1 asset:1 417:1 mln:6 251:1 1:3 deposit:1 329:1 4:1 230:1 loan:1 366:1 205:1 note:1 per:1 amount:1 available:1 company:1 convert:1 public:1 ownership:1 july:1 1986:1
|
SOMERSET SAVINGS BANK <SOSA> 4TH QTR FEB 28 NET
Shr 55 cts vs NA
Net 2,512,000 vs 773,000
Year
Net 7,123,000 vs 3,098,000
Assets 417.7 mln vs 251.1 mln
Deposits 329.4 mln vs 230.1 mln
Loans (net) 366.1 mln vs 205.2 mln
NOTE: Some per shr amounts not available as company
converted to public ownership in July 1986.
|
training/6773
|
training/6773 |@title vestar:1 securities:1 inc:1 ves:1 set:1 payout:1 |@word qtrly:1 div:1 30:1 1:2 ct:3 vs:1 34:1 prior:2 pay:1 april:1 14:1 record:1 march:1 31:1 note:1 company:1 say:1 qtr:1 include:1 end:1 year:1 additional:1 four:1 dividend:1
|
VESTAR SECURITIES INC <VES> SETS PAYOUT
Qtrly div 30.1 cts vs 34.1 cts prior
Pay April 14
Record March 31
NOTE: company said prior qtr includes end of year
additional four cts dividend.
|
training/6774
|
training/6774 |@title ameritech:1 ait:1 regular:1 dividend:1 set:1 |@word qtly:1 div:1 1:3 25:2 dlrs:2 vs:1 pay:1 may:1 record:1 march:1 31:1 note:1 full:1 name:1 american:1 information:1 technologies:1 corp:1
|
AMERITECH <AIT> REGULAR DIVIDEND SET
Qtly div 1.25 dlrs vs 1.25 dlrs
Pay May 1
Record March 31
NOTE: Full name is American Information Technologies Corp
|
training/6776
|
training/6776 |@title hartford:1 national:1 corp:1 hnat:1 declare:1 dividend:1 |@word qtly:1 div:1 30:2 ct:2 vs:1 prior:1 pay:1 april:1 20:1 record:1 march:1 31:1
|
HARTFORD NATIONAL CORP <HNAT> DECLARES DIVIDEND
Qtly div 30 cts vs 30 cts prior
Pay April 20
Record March 31
|
training/6777
|
training/6777 |@title arkansas:1 good:1 corp:1 abz:1 declare:1 qtly:1 dividend:1 |@word qtly:1 div:1 nine:2 ct:2 vs:1 prior:1 pay:1 april:1 13:1 record:1 march:1 30:1
|
ARKANSAS BEST CORP <ABZ> DECLARES QTLY DIVIDEND
Qtly div nine cts vs nine cts prior
Pay April 13
Record March 30
|
training/6778
|
training/6778 |@title auditor:1 lift:1 qualification:1 ps:1 indiana:1 pin:1 |@word auditor:2 public:1 service:1 co:2 indiana:1 inc:1 lift:1 qualification:1 effect:1 two:1 year:1 1986:3 financial:1 result:1 accord:1 company:2 annual:1 shareholder:1 report:2 psi:1 qualified:1 1984:1 1985:1 arthur:1 andersen:1 question:1 utility:1 ability:1 recover:1 cost:2 marble:2 hill:2 nuclear:1 power:1 plant:1 extend:1 maturity:1 credit:1 agreement:1 write:1 141:1 mln:2 dlrs:2 november:1 repay:1 final:1 20:1 debt:1 october:1 say:1
|
AUDITORS LIFT QUALIFICATION ON PS INDIANA <PIN>
Auditors for Public Service
Co of Indiana Inc lifted a qualification, in effect for two
years, on its 1986 financial results, according to the
company's annual shareholders' report.
PSI's report was qualified in 1984 and 1985 when its
auditors, Arthur Andersen and Co, questioned the utility's
ability to recover costs of its Marble Hill nuclear power plant
and to extend the maturity of its credit agreement.
The company wrote off 141 mln dlrs of Marble Hill costs in
November, 1986 and repaid its final 20 mln dlrs in debt in
October, 1986, it said.
|
training/6779
|
training/6779 |@title marshall:1 industries:1 mi:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 14:1 ct:4 vs:6 12:1 net:2 1:3 017:1 000:4 877:1 sale:2 68:1 mln:4 61:1 2:2 nine:1 mth:1 40:1 17:1 986:1 215:1 205:1 3:1 174:1 note:1 per:1 share:1 figure:1 reflect:1 two:1 one:1 stock:1 split:1 july:1 1986:1
|
MARSHALL INDUSTRIES <MI> 3RD QTR FEB 28 NET
Shr 14 cts vs 12 cts
Net 1,017,000 vs 877,000
Sales 68.1 mln vs 61.2 mln
Nine Mths
Shr 40 cts vs 17 cts
Net 2,986,000 vs 1,215,000
Sales 205.3 mln vs 174 mln
Note: Per share figure reflects two-for-one stock split of
July 1986.
|
training/6783
|
training/6783 |@title financial:1 benefit:1 group:1 inc:1 fbgi:1 year:1 loss:1 |@word shr:1 loss:4 11:1 ct:2 vs:2 48:1 net:1 254:1 000:3 784:1 note:1 include:1 realize:1 gain:1 one:1 mln:1 dlrs:2 versus:1 840:1
|
FINANCIAL BENEFIT GROUP INC <FBGI> YEAR LOSS
Shr loss 11 cts vs loss 48 cts
Net loss 254,000 vs loss 784,000
NOTE: Includes realized gains of one mln dlrs versus
840,000 dlrs.
|
training/6784
|
training/6784 |@title arkansas:1 good:1 abz:1 see:1 low:1 first:1 qtr:1 net:1 |@word arkansas:2 best:2 corp:1 say:5 1987:1 first:3 quarter:3 earning:2 significantly:1 low:2 fully:1 dilute:1 22:1 1:2 2:3 ct:1 per:1 share:1 last:2 year:3 company:2 pricing:1 competition:1 traffic:1 level:1 motor:2 carrier:2 industry:2 hurt:1 result:1 however:1 furniture:1 tire:1 operation:1 profitable:1 also:1 sustain:1 upcoming:1 9:1 pct:2 rate:1 hike:1 offset:1 teamster:1 labor:2 increase:2 schedule:1 april:1 3:1 abf:1 freight:1 system:1 large:1 unit:1
|
ARKANSAS BEST <ABZ> SEES LOWER FIRST QTR NET
Arkansas Best Corp said its
1987 first quarter earnings will be significantly lower than
fully diluted earnings of 22-1/2 cts per share in last year's
first quarter.
The company said pricing competition and lower traffic
levels in the motor carrier industry hurt its first quarter
results.
However, the company said its furniture and tire operations
are more profitable this year than last year.
Arkansas Best also said that if the industry sustains the
upcoming 2.9 pct motor carrier rate hike it will offset the
Teamster labor increase scheduled for April 1.
It said the labor increase then will be 3.2 pct for ABF
Freight System, its largest unit.
|
training/6785
|
training/6785 |@title urs:2 corp:1 1st:1 qtr:1 jan:1 31:1 net:1 |@word shr:2 primary:1 29:1 ct:4 vs:5 26:1 dilute:1 27:1 23:2 net:1 1:3 500:1 000:4 008:1 rev:1 30:1 mln:2 avg:1 shrs:1 pimary:1 5:1 254:1 3:1 821:1
|
URS CORP <URS> 1ST QTR JAN 31 NET
Shr primary 29 cts vs 26 cts
Shr diluted 27 cts vs 23 cts
Net 1,500,000 vs 1,008,000
Revs 30 mln vs 23.1 mln
Avg shrs pimary 5,254,000 vs 3,821,000
|
training/6787
|
training/6787 |@title tie:2 communications:1 inc:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:16 1:6 28:2 dlrs:3 vs:6 59:2 ct:1 net:2 46:1 0:5 mln:17 21:1 revs:2 63:1 9:3 77:1 8:1 12:1 mth:1 65:1 2:3 09:1 3:6 75:1 298:1 321:1 note:1 qtr:4 yr:2 1986:2 reflect:1 pretax:2 45:1 55:1 5:2 include:2 writedown:2 inventory:2 restructuring:2 charge:2 amount:2 37:2 tax:3 gain:2 940:1 000:8 094:1 1985:2 consist:1 23:1 102:1 sale:1 division:1 13:1 61:1 036:1 exclude:3 estimate:2 354:1 disposal:2 hcl:2 leasing:2 corp:2 sell:1 july:1 well:1 operating:2 result:1 prior:3 date:1 year:3 current:2 543:1 859:1 respectively:2 foreign:2 312:1 179:1 payment:1 would:1 require:1 absence:1 carryforward:1
|
TIE/COMMUNICATIONS INC <TIE> 4TH QTR LOSS
Oper shr loss 1.28 dlrs vs loss 59 cts
Oper net loss 46.0 mln vs loss 21.1 mln
Revs 63.9 mln vs 77.8 mln
12 mths
Oper shr loss 1.65 dlrs vs loss 2.09 dlrs
Oper net loss 59.3 mln vs 75.0 mln
Revs 298.2 mln vs 321.3 mln
NOTE: for the qtr and yr 1986, loss reflects pretax loss of
45.0 mln and 55.5 mln, which included a writedown of inventory
and restructuring charges amounting to 37.1 mln and 37.9 mln,
and a tax gain of 940,000 and 3,094,000.
For the qtr and yr 1985, loss consisted of a pretax loss of
23.9 mln and 102.3 mln which included a writedown of inventory,
restructuring charges and loss on the sale of a division
amounting to 13.0 mln and 61.0 mln, and a tax gain of 3,036,000
and 28.5 mln.
qtr 1985, excludes estimated loss 3,354,000 for disposal of
HCL Leasing Corp sold July 1986, as well as its operating
results prior to this date.
year current and prior excludes loss 1,543,000, and
2,859,000, respectively, for estimated loss on disposal of HCL
Leasing Corp.
qtr and year current excludes foreign tax 312,000, and
1,179,000, respectively, which payment would have been required
in the absence of foreign operating loss carryforwards from
prior years.
|
training/6788
|
training/6788 |@title u:2 house:1 plan:1 seek:1 bar:1 foreign:1 takeover:1 |@word house:2 subcommittee:3 vote:1 give:2 president:1 reagan:2 authority:1 block:2 foreign:2 takeover:2 u:2 company:2 similar:1 fairchild:1 semiconductor:1 corp:1 fujitsu:1 ltd:1 withdraw:1 energy:1 commerce:2 approve:1 amendment:2 overall:1 trade:1 bill:1 provision:1 power:1 sale:2 national:1 economic:1 interest:1 reject:1 proposal:1 require:1 pay:1 investor:2 one:1 pct:1 right:1 hold:1 gold:3 investment:1 government:2 storage:1 call:1 sell:1 coin:1 back:1 bond:1 maturity:1 30:1 50:1 year:1 reduce:1 federal:1 debt:1
|
U.S. HOUSE PLAN SEEKS TO BAR FOREIGN TAKEOVER
A U.S. House subcommittee voted to
give President Reagan authority to block foreign takeovers of
U.S. companies similar to the takeover of Fairchild
Semiconductor Corp. by Fujitsu Ltd which was withdrawn.
The Energy and Commerce Subcommittee on Commerce approved
as an amendment to the overall House trade bill a provision
giving Reagan the power to block sales to foreign companies if
the sale was not in the national or economic interest.
The subcommittee rejected a proposal requiring the U.S. to
pay investors one pct for the right to hold their gold
investments in government storage. His amendment called for the
government to sell gold coins and gold-backed bonds with
maturities of 30 to 50 years to investors to reduce the federal
debt.
|
training/6789
|
training/6789 |@title siebe:1 complete:1 acquistion:1 ranco:1 rni:1 |@word siebe:2 plc:1 u:2 k:1 say:1 complete:1 acquisition:1 ranco:5 inc:1 following:1 approval:1 shareholder:1 accord:1 term:1 deal:1 holder:1 receive:1 40:1 dlrs:1 share:1 cash:1 transfer:1 one:1 subsidiary:1 robertshaw:1 control:3 co:1 produce:1 automatic:1 device:1 power:1 regulate:1 temperature:1 pressure:1 time:1 sequence:1 current:1 fluid:1 flow:1 humidity:1 teccor:1 unit:1 make:1 specialized:1 line:1 semiconductor:1
|
SIEBE COMPLETES ACQUISTION OF RANCO <RNI>
<Siebe Plc> of the U.K. said it
completed the acquisition of Ranco Inc, following approval by
Ranco shareholders.
According to the terms of the deal, Ranco holders will
receive 40 dlrs a share in cash. Ranco will be transferred to
one of Siebe's U.S. subsidiaries, Robertshaw Controls Co.
Ranco produces automatic control devices and power controls
that regulate temperature, pressure, time sequencing, current,
fluid flow and humidity. Its Teccor unit makes a specialized
line of semiconductors.
|
training/679
|
training/679 |@title pantry:1 inc:1 inb:1 talk:1 acquire:1 |@word privately:1 hold:1 pantry:1 inc:2 operate:1 477:1 convenience:1 store:1 five:1 southeastern:1 state:1 say:3 engage:1 alex:1 brown:1 sons:1 absb:1 explore:1 possbile:1 sale:1 company:2 expect:1 start:1 talk:1 prospective:1 acquirer:1 shortly:1 approach:1 number:1 party:1 recent:1 month:1
|
<PANTRY INC> INB TALKS ON BEING ACQUIRED
Privately-held Pantry Inc, which
operates 477 convenience stores in five Southeastern states,
said it has engaged Alex. Brown and Sons Inc <ABSB> to explore
a possbile sale of the company.
It said it expects to start talks with prospective
acquirers shortly. The company said it has been approached by a
number of parties in recent months.
|
training/6790
|
training/6790 |@title hawker:1 siddeley:1 canada:1 inc:1 year:1 net:1 |@word shr:1 1:2 06:1 dlrs:2 vs:3 54:1 net:1 9:1 455:1 000:1 13:1 4:1 mln:3 sale:1 418:1 7:1 422:1 0:1 note:1 59:1 pct:1 hawker:1 siddeley:1 group:1 plc:1
|
<HAWKER SIDDELEY CANADA INC> YEAR NET
Shr 1.06 dlrs vs 1.54 dlrs
Net 9,455,000 vs 13.4 mln
Sales 418.7 mln vs 422.0 mln
Note: 59 pct owned by Hawker Siddeley Group PLC
|
training/6791
|
training/6791 |@title immediate:1 plan:1 close:1 refinery:1 esso:2 saf:2 essf:1 pa:1 |@word french:3 subsidiary:1 exxon:3 corp:1 xon:1 say:6 immediate:1 plan:1 shut:1 one:2 two:1 refinery:8 new:2 president:1 lee:1 r:1 raymond:2 earlier:1 could:1 decide:2 close:2 esso:1 saf:1 spokesman:2 closure:1 hypothesis:1 depend:1 evolution:1 market:1 ability:1 make:1 money:1 port:3 jerome:3 west:1 paris:1 fos:3 sur:3 mer:3 mediterranean:1 benefit:1 investment:1 1985:1 86:1 last:1 year:1 break:1 even:1 stock:1 loss:1 annual:1 production:2 capacity:1 seven:1 mln:2 tonne:1 five:1 add:1 industry:1 source:1 easy:1 plant:3 dispose:1 would:1 single:1 attach:1 wide:1 complex:1 comprise:1 petrochemical:1 lubricant:1 quote:1 published:1 interview:1 review:1 worldwide:1 operation:1 may:1
|
NO IMMEDIATE PLANS TO CLOSE REFINERY - ESSO SAF
ESSO SAF <ESSF.PA>, the French subsidiary
of Exxon Corp <XON>, said it had no immediate plans to shut
down one of its two refineries. Exxon's new president Lee R.
Raymond said earlier that it could decide to close a French
refinery.
An ESSO SAF spokesman said a closure was a hypothesis that
depended on the evolution of the market and refineries' ability
to make money. He said Port Jerome west of Paris and Fos sur
Mer on the Mediterranean had benefitted from new investment
over 1985-86 and had last year broken even after stock losses.
The Port Jerome refinery has an annual production capacity
of seven mln tonnes while Fos sur Mer's is five mln, the
spokesman added.
Industry sources said the easiest plant to dispose of would
be Fos sur Mer because it is a single refinery, while the Port
Jerome refinery is attached to a wider complex comprising a
petrochemical plant and a lubricant production plant.
Raymond was quoted as saying in a published interview that
Exxon was reviewing its worldwide refinery operations and might
decide to close one of its French refineries.
|
training/6794
|
training/6794 |@title tel:1 offshore:1 trust:1 teloz:1 quarterly:1 payout:1 |@word qtly:1 distribution:1 43:1 5884:1 ct:2 vs:1 37:1 2427:1 prior:1 qtr:1 payable:1 april:1 10:1 record:1 march:1 31:1
|
TEL OFFSHORE TRUST <TELOZ> UPS QUARTERLY PAYOUT
Qtly distribution 43.5884 cts vs 37.2427 cts in prior qtr
Payable April 10
Record March 31
|
training/6797
|
training/6797 |@title emhart:1 corp:1 emh:1 set:1 increase:1 earning:1 |@word emhart:4 corp:1 say:3 plan:1 increase:1 worldwide:1 revenue:3 earning:1 annual:1 compound:1 growth:2 rate:2 15:1 pct:8 13:1 respectively:1 objective:1 base:1 several:1 assumption:1 include:1 four:1 average:1 inflation:1 1989:1 two:1 three:2 gnp:1 real:1 1986:1 report:1 net:1 loss:1 10:1 mln:2 dlrs:2 35:1 ct:1 share:1 90:1 tax:1 restructuring:1 charge:1 realign:1 company:1 asset:1 divest:1 many:1 unit:1 focus:1 primary:1 market:1 industrial:2 product:4 consumer:2 information:2 electronic:2 system:2 account:2 62:1 project:1 1987:1 2:1 3:1 billion:1 20:1 18:1
|
EMHART CORP <EMH> SET TO INCREASE EARNINGS
Emhart Corp said it plans to increase
worldwide revenues and earnings at an annual compounded growth
rate of 15 pct and about 13 pct, respectively.
It said these objectives were based on several assumptions,
including a four pct average inflation rate through 1989 and a
two pct to three pct GNP real growth.
In 1986, Emhart reported a net loss of 10 mln dlrs or 35
cts a share, after a 90 mln after-tax restructuring charge,
which realigned the company's assets.
Emhart has divested itself of many of its units to focus on
three primary markets--industrial products, consumer products,
and information and electronic systems.
Emhart said industrial products should account for about 62
pct of projected 1987 revenues of 2.3 billion dlrs, while
consumer products should account for about 20 pct of those
revenues and information and electronic systems about 18 pct.
|
training/6798
|
training/6798 |@title belcher:1 raise:1 heavy:1 fuel:1 price:1 |@word belcher:1 co:1 new:3 york:2 subsidiary:1 coastal:1 corp:1 cgp:1 say:1 raise:1 post:1 price:2 number:1 six:1 fuel:1 25:6 ct:5 1:3 75:4 dlrs:11 barrel:1 depend:1 grade:1 effective:1 march:1 19:1 0:3 3:1 pct:8 sulphur:8 22:1 50:3 one:3 dlr:2 5:2 21:2 7:1 20:1 two:1 18:2 2:4 17:2 30:1 8:1
|
BELCHER TO RAISE HEAVY FUELS PRICES
The Belcher Co of New York, a
subsidiary of Coastal Corp <CGP>, said it will raise the posted
prices for number six fuel in New York 25 cts to 1.75 dlrs a
barrel, depending on grades.
Effective March 19, the new prices are 0.3 pct sulphur
22.50 dlrs, up one dlr, 0.5 pct sulphur 21.75 dlrs, up 1.75
dlrs, 0.7 pct sulphur 21 dlrs, up 1.25 dlrs. One pct sulphur
20.25 dlrs, up one dlr, two pct sulphur 18.25 dlrs, up 25 cts,
2.2 pct sulphur 18 dlrs, up 25 cts, 2.5 pct sulphur 17.75 dlrs,
up 30 cts, and 2.8 pct sulphur 17.50 dlrs, up 50 cts.
|
training/6799
|
training/6799 |@title graphic:1 industries:1 inc:1 grph:1 4th:1 qtr:1 jan:1 31:1 net:1 |@word shr:2 27:1 ct:4 vs:6 23:1 net:2 1:2 713:1 000:4 447:1 rev:1 46:1 9:2 mln:3 39:1 3:1 year:1 97:1 78:1 6:1 154:1 4:2 855:1 revs:1 167:1 ln:1 130:1
|
GRAPHIC INDUSTRIES INC <GRPH>4TH QTR JAN 31 NET
Shr 27 cts vs 23 cts
Net 1,713,000 vs 1,447,000
Revs 46.9 mln vs 39.3 mln
Year
Shr 97 cts vs 78 cts
Net 6,154,000 vs 4,855,000
Revs 167.9 ln vs 130.4 mln
|
training/68
|
training/68 |@title cofab:1 inc:1 buy:1 gulfex:1 undisclosed:1 amount:1 |@word cofab:2 inc:2 say:2 acquire:1 gulfex:1 houston:1 base:1 fabricator:1 custom:1 high:1 pressure:1 process:1 vessel:1 energy:1 petrochemical:2 industry:1 group:1 company:1 manufacture:1 specialized:1 cooling:1 lubricate:1 system:1 oil:1 gas:1 utility:1 pulp:1 paper:1 marine:1 industries:1
|
<COFAB INC> BUYS GULFEX FOR UNDISCLOSED AMOUNT
CoFAB Inc said it acquired <Gulfex Inc>,
a Houston-based fabricator of custom high-pressure process
vessels for the energy and petrochemical industries.
CoFAB said its group of companies manufacture specialized
cooling and lubricating systems for the oil and gas,
petrochemical, utility, pulp and paper and marine industries.
|
training/680
|
training/680 |@title congress:1 video:1 group:1 inc:1 cvgi:1 3rd:1 qtr:1 net:1 |@word qtr:1 end:1 dec:1 31:1 shr:2 profit:4 three:2 ct:4 vs:8 loss:4 net:3 129:1 000:7 85:1 revs:2 4:3 001:1 347:3 avg:2 shrs:2 3:4 994:1 769:1 nine:1 mth:1 75:1 39:1 2:1 900:1 1:1 753:1 7:1 472:1 15:1 mln:1 845:1 438:1 470:1 275:1 note:1 1986:1 include:1 tax:1 gain:1 carryforward:1 discontinue:1 operation:1 master:1 merchandise:1 group:1 year:1 prior:1
|
CONGRESS VIDEO GROUP INC <CVGI> 3RD QTR NET
Qtr ends Dec 31
Shr profit three cts vs loss three cts
Net profit 129,000 vs loss 85,000
Revs 4,001,000 vs 4,347,000
Avg shrs 3,994,347 vs 3,769,347
Nine mths
Shr loss 75 cts vs profit 39 cts
Net loss 2,900,000 vs profit 1,753,000
Revs 7,472,000 vs 15.3 mln
Avg shrs 3,845,438 vs 4,470,275
NOTE: net 1986 includes tax gain carryforward from
discontinued operations of Master's Merchandise Group in year
prior.
|
training/6801
|
training/6801 |@title central:1 pennsylvania:1 financial:1 corp:1 cpsa:1 payout:1 |@word qtly:1 div:1 10:3 ct:2 vs:1 prior:1 qtr:1 payable:1 april:2 22:1 record:1
|
CENTRAL PENNSYLVANIA FINANCIAL CORP <CPSA>PAYOUT
Qtly div 10 cts vs 10 cts in prior qtr
Payable April 22
Record April 10
|
training/6802
|
training/6802 |@title hartford:1 national:1 corp:1 hnat:1 regular:1 dividend:1 |@word qtly:1 div:1 30:2 ct:2 vs:1 prior:1 qtr:1 payable:1 april:1 20:1 record:1 march:1 31:1
|
HARTFORD NATIONAL CORP <HNAT> REGULAR DIVIDEND
Qtly div 30 cts vs 30 cts in prior qtr
Payable April 20
Record March 31
|
training/6804
|
training/6804 |@title brazilian:1 red:1 meat:1 output:1 sharply:1 usda:1 |@word brazilian:1 red:1 meat:1 production:4 1986:2 fall:1 20:1 pct:2 1:3 9:1 mln:3 tonne:3 due:2 drought:1 reduce:1 slaughter:1 weight:1 herd:1 rebuild:1 start:1 high:1 cattle:1 price:2 u:1 agriculture:1 department:1 say:3 report:1 world:1 trade:1 development:1 usda:2 1987:1 beef:2 expect:2 reach:1 2:1 3:1 pork:1 rise:2 83:1 sharp:1 remain:1 level:1 year:1
|
BRAZILIAN RED MEAT OUTPUT DOWN SHARPLY - USDA
Brazilian red meat production in
1986 fell more than 20 pct to 1.9 mln tonnes due to drought
which reduced slaughter weight and to herd rebuilding which
started because of high cattle prices, the U.S. Agriculture
Department said.
In its report on World Production and Trade Developments,
USDA said that in 1987, beef production is expected to reach
2.3 mln tonnes.
Pork production in 1986 rose 83 pct to 1.1 mln tonnes due
to the sharp rise in beef prices and is expected to remain at
that level this year, USDA said.
|
training/6805
|
training/6805 |@title gencorp:2 ask:2 shareholder:2 postpone:2 action:2 tender:2 offer:2 |@word
|
GENCORP ASKS SHAREHOLDERS TO POSTPONE ACTION IN TENDER OFFER
GENCORP ASKS SHAREHOLDERS TO POSTPONE ACTION IN TENDER OFFER
|
training/6807
|
training/6807 |@title mony:2 financial:1 buy:1 united:1 administrators:1 uai:1 |@word financial:1 services:1 say:2 purchase:2 united:1 administrators:1 inc:1 effort:1 secure:1 large:1 market:1 share:1 group:2 insurance:1 line:2 mony:1 acquisition:1 couple:1 kelly:1 associate:1 1985:1 contribute:1 goal:1 expand:1 business:1 improve:1 product:1
|
MONY FINANCIAL BUYS UNITED ADMINISTRATORS <UAI>
<MONY Financial Services> said it
purchased United Administrators Inc in an effort to secure a
larger market share for its group insurance line.
MONY said this acquisition, coupled with its purchase of
Kelly Associates in 1985, contributes to its goal of expanding
its group business and improving its product lines.
|
training/6809
|
training/6809 |@title bfi:1 communications:1 systems:1 inc:1 4th:1 qtr:1 loss:1 |@word shr:2 loss:8 18:1 ct:3 vs:7 20:1 net:2 629:1 527:1 697:1 847:1 revs:2 404:1 345:1 1:3 558:1 951:1 year:1 56:1 81:1 dlrs:1 910:1 063:1 5:2 744:1 588:1 999:1 377:1 6:1 347:1 702:1 avg:1 shrs:1 3:2 441:1 513:1 175:1 402:1
|
BFI COMMUNICATIONS SYSTEMS INC 4TH QTR LOSS
Shr loss 18 cts vs loss 20 cts
Net loss 629,527 vs loss 697,847
Revs 404,345 vs 1,558,951
Year
Shr loss 56 cts vs loss 1.81 dlrs
Net loss 1,910,063 vs loss 5,744,588
Revs 5,999,377 vs 6,347,702
Avg shrs 3,441,513 vs 3,175,402
|
training/6810
|
training/6810 |@title fortune:1 forf:1 acquire:1 marine:1 saving:1 |@word fortune:3 financial:1 group:1 inc:1 savings:1 bank:2 subsidiary:1 say:3 execute:1 definitive:1 agreement:3 buy:1 marine:3 saving:1 loan:1 association:1 florida:1 10:2 1:1 mln:1 dlrs:2 approve:1 director:1 subject:1 approval:1 shareholder:1 majority:1 vote:1 pay:1 20:1 cash:1 500:1 000:1 share:1 outstanding:1 among:1 thing:1
|
FORTUNE <FORF> TO ACQUIRE MARINE SAVINGS
Fortune Financial Group Inc's
Fortune Savings Bank subsidiary said it executed a definitive
agreement to buy <Marine Savings and Loan Association of
Florida> for 10.1 mln dlrs.
It said the agreement has been approved by the directors of
both banks and is subject to approval of Marine shareholders by
a majority vote.
Fortune said that under the agreement it will pay 20.10
dlrs cash for each of Marine's 500,000 shares outstanding,
among other things.
|
training/6811
|
training/6811 |@title hawker:1 siddeley:1 canada:1 sell:1 unit:1 |@word hawker:3 siddeley:3 canada:1 inc:1 say:7 due:3 poor:1 market:2 condition:1 railway:3 freight:1 car:1 manufacturing:2 plan:1 sell:1 trenton:2 work:1 division:2 nova:1 scotia:1 set:1 aside:1 provision:1 7:2 mln:1 dlrs:1 propose:1 sale:2 also:2 low:3 1986:1 earning:2 much:1 transportation:1 equipment:5 loss:1 steel:2 casting:3 forging:1 offset:1 gain:1 mining:2 sector:1 improvement:1 forestry:1 demand:3 new:1 limit:1 export:2 frequently:1 restrain:1 customer:1 finance:1 difficulty:1 wheel:1 canadian:2 continue:1 depressed:1 maintenance:1 requirement:1 level:2 past:1 decade:1 however:1 industrial:1 increase:1 hydro:1 electric:1 power:1 generation:1 company:3 machinery:1 tunnelling:1 show:1 greatly:1 improve:1 result:1 u:2 mainly:1 china:1 india:1 orenda:1 maintain:1 high:1 activity:1 aircraft:1 engine:2 repair:1 overhaul:1 manufacture:1 component:1 sawmill:1 skidder:1 operation:1 affect:1 strike:1 british:1 columbia:1 extended:1 debate:1 import:1 lumber:1 encouraging:1 sign:1 yearend:1
|
HAWKER SIDDELEY CANADA TO SELL UNIT
<Hawker Siddeley Canada Inc> said that,
due to poor market conditions for railway freight car
manufacturing, it plans to sell its Trenton Works division in
Trenton, Nova Scotia.
Hawker Siddeley said it set aside a provision of 7.7 mln
dlrs for the proposed sale.
It also said lower 1986 earnings were due to much lower
earnings in transportation equipment and losses in steel
castings and forgings, which offset gains in the mining sector
and improvements in forestry equipment.
Hawker Siddeley also said demand for new railway equipment
was limited with export sales frequently restrained by
customers' financing difficulties.
Demand for steel castings and wheels for Canadian railways
continued to be very depressed with maintenance requirements at
the lowest level in the past decade.
However, there was demand for industrial casting due to
increased hydro-electric power generation, the company said.
The company said manufacturing of mining machinery and
tunnelling equipment showed greatly improved results in the
U.S. and export markets, mainly China and India.
The Orenda division maintained a high level of activity in
aircraft engine repair and overhaul and in the manufacture of
engine components.
Sawmill equipment and skidder operations were affected by a
strike in British Columbia and the extended debate on U.S.
imports of Canadian lumber, but there were encouraging signs at
yearend, the company said.
|
training/6813
|
training/6813 |@title central:1 illinois:1 cip:1 12:1 mth:1 feb:1 28:1 net:1 |@word shr:1 2:1 04:1 dlrs:4 vs:3 1:1 83:1 net:2 76:1 172:1 000:2 71:1 101:1 revs:1 621:1 7:1 mln:4 670:1 3:1 note:1 central:1 illinois:1 public:1 service:1 co:1 full:1 name:1 company:1 recent:1 12:1 month:1 exclude:1 preferred:1 dividend:1 6:2 4:1 compare:1 8:1 last:1 year:1
|
CENTRAL ILLINOIS <CIP> 12 MTHS FEB 28 NET
Shr 2.04 dlrs vs 1.83 dlrs
Net 76,172,000 vs 71,101,000
Revs 621.7 mln vs 670.3 mln
NOTE: Central Illinois Public Service Co is full name of
company.
Most recent 12 months net excludes preferred dividends of
6.4 mln dlrs compared with 8.6 mln dlrs last year.
|
training/6814
|
training/6814 |@title bogart:1 crafts:1 corp:1 vogt:1 year:1 loss:1 |@word yr:2 end:2 nov:2 29:1 1986:1 shr:1 loss:4 61:1 ct:1 vs:3 1:3 19:1 dlrs:1 net:1 017:1 000:2 987:1 revs:1 10:2 4:1 mln:2 3:1 note:1 prior:1 30:1
|
BOGART CRAFTS CORP <VOGT> YEAR LOSS
Yr ends Nov 29, 1986
Shr loss 61 cts vs loss 1.19 dlrs
Net loss 1,017,000 vs loss 1,987,000
Revs 10.4 mln vs 10.3 mln
NOTE: Prior yr ended Nov. 30
|
training/6815
|
training/6815 |@title gencorp:1 gy:1 group:1 seek:1 anti:1 greenmail:1 vote:1 gamco:1 |@word investors:1 inc:3 affiliate:2 gabelli:6 co:1 plan:1 propose:2 anti:1 greenmail:4 provision:1 gencorp:6 annual:2 meeting:3 march:1 31:1 accord:1 gamco:3 chairman:1 mario:1 often:1 involve:1 repurchase:1 share:4 premium:1 company:1 unwanted:1 investor:2 today:2 receive:1 surprise:1 tender:2 offer:5 group:1 hold:3 9:1 8:1 pct:3 stock:3 also:2 say:5 send:1 13:3 filing:1 securities:1 exchange:1 commission:1 6:1 5:1 amount:1 1:1 462:1 000:1 report:1 early:1 g:2 file:2 passive:1 show:1 holding:1 five:1 earlier:1 general:1 partner:1 wagner:1 brown:1 afg:1 industries:1 launch:1 100:1 dlr:1 per:2 analyst:1 10:1 20:1 dlrs:1 low:1 make:1 comment:1 management:1 consider:1 spin:1 asset:1 broadcast:2 property:2 shareholder:1 license:1 long:1 entangle:1 series:1 challenge:1 one:1 thing:1 go:2 clear:1 put:1 fear:1 may:1 motivation:1 akron:1 ohio:1
|
GENCORP <GY> GROUP TO SEEK ANTI-GREENMAIL VOTE
GAMCO Investors Inc, an affiliate of
Gabelli and Co, plans to propose an anti-greenmail provision at
the GenCorp Inc annual meeting March 31, according to GAMCO
Chairman Mario Gabelli.
Greenmail often involves the repurchase of shares at a
premium by a company from an unwanted investor. GenCorp today
received a surprise tender offer from a group that holds 9.8
pct of its stock.
Gabelli also said GAMCO has sent a 13-D filing to the
Securities and Exchange Commission on the 6.5 pct of GenCorp
stock held by GAMCO and its affiliates.
The stock amounts to 1,462,000 shares and most of it was
reported in an earlier 13-G filing. A 13-G is filed by passive
investors to show holdings of more than five pct.
Earlier today, General Partners, owned by Wagner and Brown
and AFG Industries Inc, launched a 100 dlr per share tender
offer for GenCorp. Analysts said the offer was between 10 and
20 dlrs per share too low.
GenCorp has made no comment on the offer.
Gabelli said he also proposes that management consider
spinning off all assets, other than the GenCorp broadcast
properties, to shareholders. The licenses of the broadcast
properties have long been entangled in a series of challenges.
'One thing is going to be clear and that is I'm going to
the meeting and putting up 'no greenmail,' Gabelli said.
Gabelli said he fears that greenmail might be a motivation
in the offer.
The annual meeting is to be held in Akron, Ohio.
|
training/6816
|
training/6816 |@title laenderbank:1 expect:1 modest:1 profit:1 rise:1 87:1 |@word oesterreichische:1 laenderbank:3 ag:1 olbv:1 vi:1 expect:1 maintain:2 dividend:3 record:1 moderate:1 rise:4 profit:5 year:3 181:1 5:2 mln:4 schille:4 net:2 make:1 1986:3 general:1 director:1 gerhard:1 wagner:6 say:4 tell:1 news:1 conference:1 last:2 34:1 3:1 pct:11 135:1 1:4 1985:5 largely:1 due:2 great:1 domestic:1 business:3 wide:1 margin:1 interest:2 rate:1 bank:2 austria:1 third:1 large:1 raise:1 12:1 billion:5 nominal:1 share:1 capital:2 10:1 35:1 announce:1 result:1 endeavour:1 high:1 1987:2 balance:3 sheet:3 total:3 five:1 197:1 7:2 schilling:4 8:3 growth:1 foreign:2 currency:1 account:1 37:1 compare:1 41:1 blame:1 realtive:1 shrinkage:1 chiefly:1 dollar:2 fall:1 effectively:1 peg:1 mark:1 weakness:1 wipe:1 9:2 decline:1 give:1 exact:2 figure:1 london:1 branch:1 open:1 april:1 come:1 close:1 one:1 stg:1 lending:1 18:1 2:1 19:1 commission:1 earning:1 climb:1 738:1 accord:1 federal:1 budget:1 state:2 lower:1 stake:1 60:1 probably:1 51:1 timing:1 move:1 depend:1
|
LAENDERBANK EXPECTS MODEST PROFIT RISE IN '87
Oesterreichische Laenderbank AG
[OLBV.VI] expects to maintain its dividend and to record a
moderate rise in profits this year after the 181.5 mln
schilling net profit made in 1986, General Director Gerhard
Wagner said.
Wagner told a news conference that last year's 34.3 pct
rise in net profit from 135.1 mln in 1985 was largely due to
greater domestic business and wider margins on schilling
interest rates.
The bank, Austria's third largest, raised its 1986 dividend
to 12 pct of its 1.5 billion schilling nominal share capital
from 10 pct on capital of 1.35 billion in 1985.
Announcing the 1986 results, Wagner said: 'We will endeavour
to maintain the higher dividend in 1987.'
Laenderbank's balance sheet total rose five pct to 197.7
billion schillings against 8.1 pct growth in 1985. Foreign
currency business last year accounted for some 37 pct of
balance sheet total compared with about 41 pct in 1985.
Wagner blamed the realtive shrinkage of foreign business
chiefly on the dollar's fall against the schilling, which is
effectively pegged to the mark. The dollar's weakness had wiped
some 8.9 billion schillings off the balance sheet total.
Wagner declined to give an exact figure for profits from
the bank's London branch, which opened in April 1985, but said
that it came close to one mln stg.
On schilling lending, profit on interest had risen 18 pct
to 2.19 billion schillings while commission earnings climbed
8.7 pct to 738.9 mln.
According to the 1987 federal budget, the state is due to
lower its stake 60 pct in Laenderbank, probably to 51 pct.
Wagner said the exact timing of the move depended on the state.
|
training/6817
|
training/6817 |@title national:1 data:1 ndac:1 pact:1 signature:1 |@word national:5 data:1 communications:1 inc:1 say:3 longer:1 obligate:1 issue:1 majority:1 shareholder:1 signature:3 capital:1 corp:1 20:1 mln:3 common:3 share:3 previous:1 agreement:2 enter:1 new:2 would:1 80:1 pct:1 prior:1 pact:2 grant:1 five:1 year:1 option:2 acquire:1 two:1 price:1 equal:1 current:1 market:1 value:1 15:1 3:1 outstanding:1
|
NATIONAL DATA <NDAC> IN PACT WITH SIGNATURE
National Data Communications Inc said it
is no longer obligated to issue its majority shareholder
<Signature Capital Corp> 20 mln common shares under a previous
agreement.
National said it entered into a new agreement with
Signature, which would have owned about 80 pct of National's
common under the prior pact.
Under the new pact, National said it granted Signature a
five-year option to acquire two mln shares of its common for an
option price equal to its current market value. National has
about 15.3 mln shares outstanding.
|
training/6818
|
training/6818 |@title pilgrim:1 venture:1 merger:1 agreement:1 |@word pilgrim:2 venture:1 corp:1 say:4 sign:1 letter:1 intent:1 merge:1 marketing:3 technologies:1 group:1 inc:1 rockville:1 center:1 n:1 term:1 agreement:1 publicly:1 hold:1 corporation:1 issue:1 two:1 mln:1 share:1 authorized:1 unissue:1 restrict:1 common:1 stock:1 technology:2 shareholder:1 company:2 expect:1 complete:1 merger:1 june:1 17:1 develop:1 computer:1 base:1 advertising:1 system:1 gear:1 toward:1 large:1 advertiser:1
|
PILGRIM VENTURE IN MERGER AGREEMENT
<Pilgrim Venture Corp>
said it signed a letter of intent to merge with <Marketing
Technologies Group Inc>, Rockville Center, N.Y.
Under terms of the agreement, Pilgrim, a publicly held
corporation, said it will issue two mln shares of authorized
but unissued restricted common stock to Marketing Technologies
shareholders. The company said it expects to complete the
merger by June 17.
Marketing Technologies is developing a computer-based
advertising system geared toward large advertisers, the company
said.
|
training/6819
|
training/6819 |@title gencorp:1 gy:1 study:1 general:1 partner:1 bid:1 |@word gencorp:2 inc:2 chairman:1 william:1 reynolds:3 say:6 company:1 board:3 financial:1 legal:1 advisor:1 study:1 unsolicited:1 tender:2 offer:5 general:3 partners:1 right:2 advice:1 shareholder:3 wait:1 advise:1 position:1 happen:1 march:1 31:1 earlier:1 today:1 partner:2 control:1 wagner:2 brown:2 afg:2 industries:1 start:1 share:2 stock:1 purchase:1 100:1 dlrs:1 due:1 expire:2 april:2 14:2 condition:2 receipt:1 sufficient:1 financing:1 ask:1 postpone:1 decision:2 whether:1 accept:1 reject:1 finish:1 evaluation:1 statement:1 time:1 make:1
|
GENCORP <GY> TO STUDY GENERAL PARTNER BID
GenCorp Inc chairman William
Reynolds said the company's board and its financial and legal
advisors will study the unsolicited tender offer from <General
Partners>.
'Right now, our advice to all our shareholders is to wait
until the board advises them of its position ... which will
happen on or before March 31,' Reynolds said.
Earlier today, General Partners, controlled by Wagner and
Brown and AFG Industries Inc, said it started a tender offer
for all of Gencorp's shares and stock purchase rights for 100
dlrs a share.
General Partners said the offer, which is due to expire
April 14, is conditioned on receipt of sufficient financing and
other conditions.
'We are asking our shareholders to postpone any decision on
whether to accept or reject the offer until the board finishes
its evaluation,' Reynolds said in a statement.
'The Wagner and Brown-AFG offer does not expire until April
14, so shareholders have time to make their decision,' he said.
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training/682
|
training/682 |@title renouf:1 corp:1 proceed:1 benequity:1 bh:1 bid:1 |@word renouf:1 corp:1 new:1 zealand:1 say:1 decide:1 proceed:2 offer:3 outstanding:1 unit:2 benequity:2 holding:1 31:1 dlrs:1 per:1 company:1 require:1 redice:1 march:2 two:1 whether:1 terminate:1 base:1 ability:1 obtain:1 financing:1 review:1 operation:1 expire:1 13:1
|
<RENOUF CORP> TO PROCEED WITH BENEQUITY <BH> BID
Renouf Corp of New Zealand said it
has decided to proceed with its offer for all outstanding units
of Benequity Holdings at 31 dlrs per unit.
The company had been required to redice by March Two
whether to proceed with the offer or terminate it, based on its
ability to obtain financing and on its review of Benequity
operations. The offer is to expire March 13.
|
training/6825
|
training/6825 |@title restaurant:1 management:1 service:1 resm:1 payout:1 |@word qtly:1 div:1 1:2 3:2 4:2 ct:2 vs:1 prior:1 pay:1 april:2 23:1 record:1 nine:1 note:1 full:1 name:1 restaurant:1 management:1 services:1 inc:1
|
RESTAURANT MANAGEMENT SERVICES <RESM> IN PAYOUT
Qtly div 1-3/4 cts vs 1-3/4 cts prior
Pay April 23
Record April nine
NOTE: Full name Restaurant Management Services Inc
|
training/6827
|
training/6827 |@title citizens:1 first:1 bancorp:1 inc:1 cfb:1 raise:1 dividend:1 |@word qtly:1 div:1 15:1 ct:2 vs:1 12:1 5:1 prior:2 pay:1 may:1 1:1 record:1 april:1 17:1 note:1 dividend:1 adjust:1 recent:1 six:1 five:1 stock:1 split:1
|
CITIZENS FIRST BANCORP INC <CFB>RAISES DIVIDEND
Qtly div 15 cts vs 12.5 cts prior
Pay May 1
Record April 17
Note: Prior dividend is adjusted for recent six-for-five
stock split.
|
training/6828
|
training/6828 |@title texaco:1 inc:1 tx:1 84:1 1:1 mln:1 dlr:1 defense:1 contract:1 |@word texaco:1 refining:1 marketing:1 inc:1 award:2 84:1 1:1 mln:1 dlr:1 defense:2 logistics:1 agency:1 contract:3 jet:1 fuel:1 department:1 say:2 work:1 part:1 multi:1 procurement:1 program:1 expect:1 complete:1 march:1 31:1 1988:1
|
TEXACO INC <TX> 84.1 MLN DLR DEFENSE CONTRACT
Texaco Refining and Marketing Inc is
being awarded a 84.1 mln dlr Defense Logistics Agency contract
for jet fuel, the Defense Department said.
It said work on the contract, which was awarded as part of
a multi-contract procurement program, is expected to be
completed by March 31, 1988.
|
training/6830
|
training/6830 |@title allison:1 place:1 inc:1 4th:1 qtr:1 net:1 |@word shr:2 seven:1 ct:4 vs:6 20:1 net:2 184:1 000:6 387:1 revs:2 9:1 100:1 6:2 700:1 year:1 13:1 33:1 315:1 627:1 32:1 4:1 mln:2 24:1
|
ALLISON'S PLACE INC <ALLS> 4TH QTR NET
Shr seven cts vs 20 cts
Net 184,000 vs 387,000
Revs 9,100,000 vs 6,700,000
Year
Shr 13 cts vs 33 cts
Net 315,000 vs 627,000
Revs 32.4 mln vs 24.6 mln
|
training/6831
|
training/6831 |@title conagra:2 inc:2 3rd:2 qtr:2 shr:2 36:2 ct:3 vs:2 31:2 cts:1 |@word
|
CONAGRA INC 3RD QTR SHR 36 CTS VS 31 CTS
CONAGRA INC 3RD QTR SHR 36 CTS VS 31 CTS
|
training/6836
|
training/6836 |@title pri:2 buy:1 shell:1 rd:1 hawaii:1 gas:1 station:1 |@word pacific:1 resources:1 inc:1 say:5 sign:1 definitive:1 agreement:2 royal:1 dutch:1 shell:8 group:1 unit:1 oil:1 co:1 buy:1 marketing:1 terminaling:1 distribution:1 asset:1 hawaii:1 32:1 mln:1 dlrs:1 purchase:1 would:1 include:2 interest:1 39:1 retail:1 gasoline:2 station:1 four:1 petroleum:1 product:3 terminal:1 pri:3 company:1 expect:1 transaction:1 complete:1 september:1 1:1 1987:1 pact:1 provision:1 allow:1 continue:1 use:1 trademark:1 credit:1 card:1 sale:1 brand:2 stations:1 sell:1 manufacture:1 specification:1
|
PRI <PRI> TO BUY SHELL <RD> HAWAII GAS STATIONS
Pacific Resources Inc said it signed a
definitive agreement with Royal Dutch/Shell Group unit Shell
Oil Co to buy Shell's marketing, terminaling and distribution
assets in Hawaii for 32 mln dlrs.
The purchase would include Shell's interest in 39 retail
gasoline stations and four petroleum product terminals, PRI
said. The company said it expects the transaction to be
completed by September 1, 1987.
The pact includes provisions allowing the continued use of
the Shell trademark, credit cards and the sale of Shell brand
products by the gasoline stations, PRI said.
PRI said all Shell-brand products sold under this agreement
will be manufactured to Shell specifications.
|
training/6837
|
training/6837 |@title reading:1 co:1 rdgc:1 4th:1 qtr:1 oper:1 net:1 |@word oper:4 shr:3 40:1 ct:5 vs:10 30:1 net:2 1:7 364:1 000:5 025:1 revs:2 14:1 7:2 mln:8 11:1 0:2 avg:2 shrs:2 3:4 372:1 970:1 425:1 400:1 year:3 86:1 32:1 2:3 925:1 109:1 43:1 35:1 383:1 651:1 418:1 594:1 note:1 ago:1 period:1 exclude:1 extraordinary:1 gain:2 dlrs:5 31:1 include:1 988:1 one:1 qtr:1 tax:1 loss:1 carryforward:1
|
READING CO <RDGC> 4TH QTR OPER NET
Oper shr 40 cts vs 30 cts
Oper net 1,364,000 vs 1,025,000
Revs 14.7 mln vs 11.0 mln
Avg shrs 3,372,970 vs 3,425,400
Year
Oper shr 86 cts vs 32 cts
Oper net 2,925,000 vs 1,109,000
Revs 43.0 mln vs 35.7 mln
Avg shrs 3,383,651 vs 3,418,594
NOTE: Year-ago periods exclude extraordinary gain of 1.1
mln dlrs or 31 cts/shr.
Includes gains of 988,000 dlrs vs one mln dlrs in qtr and
2.2 mln dlrs vs 1.1 mln dlrs in year from tax loss
carryforwards.
|
training/684
|
training/684 |@title cuba:1 tell:1 trader:1 sugar:1 export:1 may:1 delay:1 |@word cuba:6 tell:2 international:1 sugar:4 operator:2 buy:1 shipment:4 march:2 contract:3 take:1 second:1 place:1 direct:1 export:3 market:2 dealer:1 say:5 trader:4 receive:2 telex:3 language:1 message:1 totally:1 clear:1 believe:1 would:2 honour:1 declare:1 soviet:2 union:1 destination:1 fuel:1 rise:1 world:1 price:1 last:3 week:1 reflect:1 poor:1 cuban:1 crop:1 worry:1 brazil:1 availability:1 increase:1 demand:1 analyst:1 sign:1 shortage:1 immediately:1 available:1 raw:1 supply:1 traditional:1 martket:1 probably:1 factor:1 behind:1 syria:2 call:2 snap:1 buying:2 tender:2 month:2 normally:1 white:1 forward:1 delivery:1 spot:1 requirement:1 result:1 sale:1 several:1 cargo:1 meet:1
|
CUBA TELLS TRADERS SUGAR EXPORTS MAY BE DELAYED
Cuba has told international sugar
operators who have bought its sugar for shipment in March that
these contracts will take second place to Cuba's direct
shipments to its export markets, dealers here said.
Some traders who have received telexes from Cuba said the
language of the message was not totally clear and some believed
shipments would be honoured if the traders declare the Soviet
Union as the destination of their contracts.
The telexes have fueled rising world prices in the last
week and reflect a poor Cuban crop, worry over Brazil's export
availability, and increasing Soviet demand, analysts said.
Traders said signs of Cuba's shortage of immediately
available raw sugar to supply its traditional martkets was
probably the factor behind Syria calling a snap buying tender
last month.
Normally Syria calls white sugar buying tenders for forward
delivery, and last month's spot requirement resulted in the
sale of several cargoes.
Cuba in its telex told operators they would not receive
March shipments as Cuba has to meet its contracts to export
markets, traders said.
|
training/6840
|
training/6840 |@title conagra:1 inc:1 cag:1 3rd:1 qtr:1 feb:1 22:1 net:1 |@word shr:5 primary:4 36:2 ct:4 vs:12 31:2 dilute:4 net:4 25:1 1:8 mln:13 21:1 7:1 revs:2 53:1 billion:4 39:1 avg:5 shrs:5 68:4 8:3 9:2 70:2 5:2 71:2 0:2 nine:4 mth:4 32:1 dlrs:5 13:1 30:1 11:1 90:1 77:1 6:2 18:1 4:1 58:1 note:1 prefer:1 dividend:1 payment:1 current:2 include:1 tax:1 provision:1 five:1 consolidation:1 food:1 plant:1 data:1 reflect:2 two:1 one:1 split:1 december:1 1986:1 result:1 year:1 ago:1 first:1 half:1 restate:1 acquisition:1 e:1 j:1 miller:1 enterprise:1 040:1 000:1 share:1 january:1 1987:1
|
CONAGRA INC <CAG> 3RD QTR FEB 22 NET
Shr primary 36 cts vs 31 cts
Shr diluted 36 cts vs 31 cts
Net 25.1 mln vs 21.7 mln
Revs 1.53 billion vs 1.39 billion
Avg shrs primary 68.8 mln vs 68.9 mln
Avg shrs diluted 70.5 mln vs 71.0 mln
Nine mths
Shr primary 1.32 dlrs vs 1.13 dlrs
Shr diluted 1.30 dlrs vs 1.11 dlrs
Net 90.8 mln vs 77.6 mln
Nine mths
Revs 5.18 billion vs 4.58 billion
Avg shrs primary 68.9 mln vs 68.8 mln
Avg shrs diluted 70.6 mln vs 71.0 mln
Note: Net is before preferred dividend payments.
Current nine mths net includes after-tax provision of five
mln dlrs for consolidation of food plants.
Shr and avg shrs data reflect two-for-one split in December
1986. Results for year-ago nine mths and current first half
restated to reflect acquisition of E.J. Miller Enterprises for
1,040,000 shares in January 1987.
|
training/6841
|
training/6841 |@title canadian:1 pacific:1 cp:1 seek:1 buyer:1 unit:1 |@word canadian:1 pacific:1 ltd:2 say:2 retain:1 wood:1 gundy:1 inc:1 seek:1 buyer:1 maple:2 leaf:2 mills:1 toronto:1 company:2 1986:1 sale:1 819:1 mln:2 dlrs:2 tax:1 profit:1 16:1 3:1 diversified:1 agriproduct:1 produce:1 sell:1 industrial:1 consumer:1 flour:2 base:1 product:1 bake:1 good:1 also:1 operate:1 fully:1 integrate:1 poultry:2 business:2 rendering:1 market:1 livestock:1 feed:1 distribute:1 grain:1 network:1 country:1 terminal:1 elevator:1
|
CANADIAN PACIFIC <CP> SEEKS BUYER FOR UNIT
Canadian Pacific Ltd said it retained
Wood Gundy Inc to seek a buyer for Maple Leaf Mills Ltd of
Toronto.
The company said Maple Leaf had 1986 sales of 819 mln dlrs
and an after tax profit of 16.3 mln dlrs. It is a diversified
agriproducts company which produces and sells industrial and
consumer flour, flour-based products and baked goods.
It also operates a fully integrated poultry business and a
rendering businesses, markets livestock and poultry feed and
distributes grain through a network of country and terminal
elevators.
|
training/6844
|
training/6844 |@title air:1 canada:1 courier:1 buy:1 sharply:1 alter:1 industry:1 |@word air:7 canada:9 54:1 mln:5 u:9 dlr:1 acquisition:7 gelco:9 corp:6 gec:1 canadian:10 unit:5 dramatically:1 alter:1 fast:1 grow:3 courier:8 industry:3 largely:1 dominate:1 company:12 year:3 official:2 analyst:5 say:13 state:1 take:3 country:1 second:1 large:2 overnight:1 business:8 two:5 month:2 another:2 onex:1 capital:2 ltd:4 approve:1 number:1 one:1 rank:1 purolator:7 new:1 jersey:1 based:1 pcc:1 prompt:1 financial:3 restructuring:1 undertake:1 parent:4 likely:2 represent:2 trend:1 toward:1 buy:3 foreign:1 operation:2 case:1 whether:1 right:2 people:1 time:1 mcleod:1 young:1 weir:1 transportation:1 tony:1 hine:3 comment:1 fit:2 move:2 embroil:1 restructure:2 sell:5 generate:2 ready:1 cash:1 nesbitt:1 thomson:1 deacon:1 inc:2 harold:1 wolkin:1 good:2 correlation:1 subsidiary:1 either:1 siege:1 someone:1 else:1 minnesota:1 decide:1 express:3 part:2 previously:1 announce:2 program:3 four:1 operate:3 back:1 share:1 pay:2 debt:2 marketing:1 vice:1 president:1 james:1 neil:2 tell:1 reuters:1 sale:1 first:1 divestiture:1 proceed:1 use:1 help:1 350:1 dlrs:4 end:1 decline:1 disclose:2 earning:1 revenue:4 figure:1 hold:1 dominant:1 position:1 handle:1 50:1 000:1 package:1 day:1 generating:1 100:1 early:1 form:2 important:1 adopt:1 unicorp:1 acquire:4 12:1 6:1 pct:3 stake:2 would:1 consider:1 whole:1 last:1 agree:1 e:1 f:1 hutton:1 lbo:1 certain:1 manager:1 excellent:1 investment:3 market:2 see:1 25:1 30:1 annually:1 spokesman:1 esther:1 szynkarsky:3 airline:2 also:1 65:1 ems:1 calgary:1 city:1 messenger:1 service:1 term:1 total:1 90:1 combine:1 yearly:1 170:1 strategy:1 seek:1 attractive:1 compliment:1 main:1 continue:1 current:1 management:1 independently:1 although:1 already:1 cargo:1 include:1 small:1 door:2 well:2 run:1 way:1 want:1 keep:1 retain:1 operating:1 link:1 delivery:1 network:1 traffic:2 former:1 without:1 tie:1 nature:1 incremental:2 sort:1 sausage:3 maker:1 put:1 place:1 grinder:1 stuff:1 money:1 make:1 add:1
|
AIR CANADA COURIER BUY SHARPLY ALTERS INDUSTRY
Air Canada's 54 mln U.S. dlr
acquisition of Gelco Corp's <GEC> Canadian unit has
dramatically altered Canada's fast growing courier industry,
largely dominated by U.S. companies until this year, company
officials and analysts said.
State-owned Air Canada takes over the country's second
largest overnight courier business just two months after
another Canadian company, <Onex Capital Corp Ltd>, approved the
acquisition of number one ranked Purolator Courier Ltd from New
Jersey-based Purolator Courier Corp <PCC>.
But analysts said the two acquisitions were prompted by
financial restructuring undertaken by the U.S. parent companies
and likely don't represent an industry trend toward buying out
foreign owned courier operations.
'It's a case of whether you can buy from the right people at
the right time,' McLeod Young Weir Ltd transportation analyst
Tony Hine commented.
The two acquisitions fit with a larger move by U.S.
companies embroiled in a take-over or restructuring to sell-off
their Canadian units to generate ready cash, said Nesbitt
Thomson Deacon Inc analyst Harold Wolkin.
'There is a very good correlation between the U.S. parent
selling Canadian subsidiaries and the U.S. parent either being
under siege or taking someone else over,' he said.
Gelco Corp, of Minnesota, decided to sell Gelco Express Ltd
as part of its previously announced program to sell off four
operating units to buy back shares and pay down debt, Gelco
Express marketing vice president James O'Neil told Reuters.
The sale is the first under Gelco's divestiture program,
and proceeds will be used to help pay down 350 mln U.S. dlrs of
debt by year-end, the company said.
While company officials declined to disclose earnings and
revenue figures, O'Neil said Gelco Express holds a dominant
position in the industry, handling more than 50,000 packages a
day and generating revenues of more than 100 mln Canadian dlrs
a year.
The earlier move by Purolator to sell its Canadian unit
formed an important part of a company restructuring program,
adopted after another Canadian Company, <Unicorp Canada Corp>,
acquired a 12.6 pct stake in Purolator and said it would
consider acquiring the whole company.
Last month, Purolator agreed to be acquired by a company
formed by E.F. Hutton LBO Inc and certain managers of
Purolator's U.S. courier business.
For Air Canada, its acquisition of Gelco's Canadian courier
business represents an 'excellent financial investment' in a
market it sees growing by 25 to 30 pct annually, spokesman
Esther Szynkarsky said.
The airline also announced it acquired a 65 pct stake in
EMS Corp, of Calgary, an in-city messenger service.
It did not disclose financial terms, but Szynkarsky said
the two acquisitions totalled about 90 mln Canadian dlrs, and
the two business have combined yearly revenues of 170 mln dlrs.
She said the acquisition fit with Air Canada's strategy of
seeking attractive investments that compliment its main airline
business.
Gelco will continue to operate with current management,
independently of Air Canada, although Air Canada already
operates its own air cargo business that includes a small
door-to-door courier operation.
'They're well run, they're a good investment, they're doing
well in a growing market, and that's the way we want to keep
it,' Szynkarsky said.
Analyst Hine said the Gelco and Purolator Canadian units
will likely retain operating links with their U.S. delivery
network, generating traffic for the former parent companies
without them having to tie up capital in Canada.
'The nature of the business is that incremental traffic is
incremental revenue,' Hine said.
'It's sort of a sausage maker business where you put in
place the sausage grinder, and the more sausage you can stuff
through, the more money you make,' he added.
|
training/6846
|
training/6846 |@title copper:1 industry:1 ask:1 lme:1 strategy:1 statement:1 |@word representative:1 international:1 wrought:1 copper:5 council:1 iwcc:3 major:1 producer:1 tell:2 london:1 metal:2 exchange:2 lme:10 clear:2 statement:1 forward:1 strategy:1 would:6 lead:1 well:1 understanding:1 industry:9 press:2 release:4 say:5 late:2 meeting:2 discuss:1 new:2 clearing:6 house:1 system:5 express:1 grave:1 concern:1 proposal:2 make:4 least:1 one:1 member:2 cash:2 market:2 replace:1 plan:3 retain:1 prompt:1 date:1 settlement:1 basis:1 delegate:2 decision:1 change:4 indicate:2 fundamental:1 function:1 service:1 deter:1 use:1 hedging:1 physical:1 need:1 remove:2 many:1 unique:1 advantage:1 currently:1 offer:1 indistinguishable:1 non:1 trade:1 orientate:1 comex:1 decide:1 whether:1 dealer:1 convenience:1 take:1 high:1 priority:1 customer:1 satisfaction:1 also:1 confirm:1 start:1 may:1 29:1 consideration:1 give:1 due:1 course:1 amalgamated:1 trading:1 last:1 week:1 spokesman:1 suggest:1 assurance:1 permanence:1 fear:1 uncertainty:1 result:1 endless:1 process:1 review:1
|
COPPER INDUSTRY ASKS LME FOR STRATEGY STATEMENT
Representatives of the International
Wrought Copper Council (IWCC) and major copper producers have
told the London Metal Exchange (LME) a clear statement of its
forward strategy would lead to a better understanding between
industry and the LME.
In a press release the IWCC said that at the latest meeting
between the copper industry and the LME to discuss the new
clearing house system, industry expressed grave concern about
latest proposals made by at least one LME member for a cash
cleared market to replace the planned clearing system which
will retain the prompt date settlement basis.
Copper industry delegates told the LME a decision to change
(the planned clearing system) would indicate a fundamental
change in the function of the LME and in its service to the
industry, the release said.
By deterring industry use of the Exchange for hedging and
physical needs it would remove many of the unique advantages
currently offered by the LME and make it indistinguishable from
non-trade orientated markets such as Comex.
The LME had to decide whether dealer convenience should
take a higher priority over customer satisfaction, industry
delegates said.
The IWCC release also said the LME had confirmed that no
change would be made to the clearing system planned to start on
May 29. But it had indicated that consideration would be given
in due course to the cash clearing proposal, made by
Amalgamated Metal Trading at a LME members meeting last week.
A copper industry spokesman suggested that some assurance
of permanence in the new clearing system would remove industry
fears of uncertainty resulting from an endless process of
review and change, the press release said.
|
training/6848
|
training/6848 |@title north:1 west:1 telecom:1 nowt:1 4th:1 qtr:1 oper:1 net:1 |@word oper:4 shr:2 64:1 ct:2 vs:6 52:1 net:2 872:1 272:1 706:1 836:1 revs:2 9:1 271:1 541:1 7:1 744:1 466:1 year:1 2:4 03:1 dlrs:2 1:2 96:1 782:1 7801:1 684:1 089:1 31:1 mln:2 29:1 note:1 full:1 name:1 north:1 west:1 telecommunications:1 inc:1
|
NORTH-WEST TELECOM <NOWT> 4TH QTR OPER NET
Oper shr 64 cts vs 52 cts
Oper net 872,272 vs 706,836
Revs 9,271,541 vs 7,744,466
Year
Oper shr 2.03 dlrs vs 1.96 dlrs
Oper net 2,782,7801 vs 2,684,089
Revs 31.2 mln vs 29.1 mln
NOTE: Full name is North-West Telecommunications Inc
|
training/6849
|
training/6849 |@title group:1 reconsider:1 computer:1 memories:1 cmin:1 bid:1 |@word shareholder:1 group:5 lead:1 far:1 hills:1 n:1 j:1 investor:1 natalie:1 koether:1 say:5 reconsider:2 plan:4 seek:3 control:3 computer:3 memories:1 inc:1 sell:4 entire:1 stake:2 company:4 filing:1 securities:1 exchange:2 commission:1 include:1 sun:2 equities:1 corp:2 net:1 365:1 375:1 memorie:1 common:1 share:4 march:2 5:1 17:1 price:1 range:1 3:2 4:1 four:1 dlrs:1 lower:1 687:1 000:1 6:1 2:1 pct:2 total:1 outstanding:1 takeover:1 announce:1 agree:2 stock:2 swap:1 12:1 chatsworth:1 calif:1 disk:1 drive:1 concern:1 letter:1 intent:1 80:1 would:1 newly:1 issue:1 asset:1 privately:1 hold:1 hemdale:2 film:1 survive:1 entity:1 light:1 disclosure:1 find:1 necessary:1 evaluate:1 feasibility:1 portion:1 currently:1 intend:1 balance:1 thereof:1 time:2 disclose:1 dec:1 29:1 reserve:1 right:1 change:1 mind:1
|
GROUP RECONSIDERS COMPUTER MEMORIES <CMIN> BID
A shareholder group led by Far
Hills, N.J., investor Natalie Koether said it is reconsidering
its plan to seek control of Computer Memories Inc and now plans
to sell its entire stake in the company.
In a filing with the Securities and Exchange Commission,
the group, which includes Sun Equities Corp, said it sold a net
365,375 Computer Memories common shares between March 5 and 17
at prices ranging from 3-3/4 to four dlrs a share, lowering its
stake to 687,000 shares, or 6.2 pct of the total outstanding.
The group said it reconsidered its takeover plans after the
company announced it agreed to a stock swap.
On March 12, the Chatsworth, Calif., computer disk drive
concern said it agreed in a letter of intent to exchange 80 pct
of its stock, all of which would be newly issued, for the
assets of privately held Hemdale Film Corp, with Hemdale as the
surviving entity.
'In light of these disclosures, Sun found it necessary to
re-evaluate the feasibility of seeking control of the company
and has sold a portion of its shares and currently intends to
sell the balance thereof from time to time,' the group said.
The group, which disclosed plans on Dec 29 to seek control
of the company, reserved the right to change its mind again.
|
training/685
|
training/685 |@title goodrich:1 gr:1 phase:1 business:1 b:1 f:1 |@word goodrich:5 co:1 say:8 phase:1 production:2 aircraft:3 tire:3 missile:3 marine:2 product:4 molded:3 rubber:4 akron:6 ohio:1 end:1 1987:1 lay:1 790:1 salaried:1 maintenance:1 support:1 service:1 employee:3 company:3 layoff:1 start:1 within:1 next:1 week:1 continue:3 make:3 chemical:2 adhesive:2 employ:1 356:1 another:1 5000:1 salary:1 work:1 able:1 operate:1 business:3 discontinue:1 profitably:1 enough:1 justify:1 large:1 investment:1 norwood:1 n:1 c:1 sonar:1 dome:1 jacksonville:1 fla:1 relocate:1 site:1 yet:1 choose:1 stop:1 insulator:1 prepared:1 discuss:1 official:1 united:1 workers:1 union:1 severance:1 benefit:1 affected:1 issue:1 relate:1 operation:1 phaseout:1 manufacture:1 spokesman:1 expect:1 adverse:1 impact:1 earning:1 move:1
|
GOODRICH <GR> TO PHASE OUT SOME BUSINESSES
B.F. Goodrich Co said it will phase
out the production of aircraft tires, missile and marine
products and molded rubber products in Akron, Ohio, by the end
of 1987, laying off about 790 salaried, production, maintenance
and support services employees.
The company said layoffs will start within the next few
weeks.
Goodrich said it will continue to make chemicals and
adhesives in Akron, employing about 356. Another 5000 salaried
employees in Akron work for Goodrich.
The company said it has not been able to operate the
businesses being discontinued in Akron profitably enough to
justify the large investment that it has in them.
Goodrich said it will continue to make aircraft tires at
Norwood, N.C., and sonar domes at Jacksonville, Fla., and will
relocate its molded rubber products business to a site not yet
chosen. It said it will stop making insulators for missiles.
Goodrich said it is prepared to discuss with officials of
the United Rubber Workers Union severance benefits for affected
employees and issues related to the continued operation in
Akron of the chemical and adhesives businesses and to the
phaseout of the Akron aircraft tire, missile and marine and
molded rubber products manufacturing.
A company spokesman said it does not expect any adverse
impact on earnings from the move.
|
training/6850
|
training/6850 |@title ault:2 inc:1 3rd:1 qtr:1 march:1 one:1 net:1 |@word shr:2 profit:4 eight:1 ct:4 vs:6 loss:4 16:1 net:2 153:1 000:7 310:1 sale:2 3:1 937:1 2:2 364:1 nine:1 mth:1 five:1 53:1 97:1 1:1 042:1 10:1 mln:1 7:1 564:1
|
AULT INC <AULT> 3RD QTR MARCH ONE NET
Shr profit eight cts vs loss 16 cts
Net profit 153,000 vs loss 310,000
Sales 3,937,000 vs 2,364,000
Nine Mths
Shr profit five cts vs loss 53 cts
Net profit 97,000 vs loss 1,042,000
Sales 10.2 mln vs 7,564,000
|
training/6852
|
training/6852 |@title americus:1 trust:1 atu:1 atp:1 initial:1 dividend:1 |@word americus:1 trust:1 american:1 telephone:1 telegraph:1 share:1 series:1 two:1 say:1 distribute:1 initial:1 dividend:1 28:1 75:1 ct:1 may:1 12:1 shareholder:1 record:1 march:1 31:1
|
AMERICUS TRUST <ATU> AND <ATP> INITIAL DIVIDEND
Americus Trust for American Telephone
and Telegraph Shares Series Two said it will distribute an
initial dividend of 28.75 cts on May 12 to shareholders of
record March 31.
|
training/6853
|
training/6853 |@title xtra:2 xtr:1 buy:1 fruehauf:1 ftr:1 unit:1 |@word corp:3 say:1 agree:1 acquire:1 stock:1 rentco:2 trailer:1 wholly:1 subsidiary:1 fruehauf:1 70:2 mln:2 dlrs:2 revenue:1 transaction:1 expect:1 complete:1 april:1 subject:1 regulatory:1 approval:1
|
XTRA <XTR> TO BUY FRUEHAUF <FTR> UNIT
XTRA Corp said it agreed to acquire all
the stock of RentCo Trailer Corp, a wholly owned subsidiary of
Fruehauf Corp for about 70 mln dlrs.
RentCo had revenues of about 70 mln dlrs.
The transaction is expected to be completed in April and is
subject to regulatory approval.
|
training/6855
|
training/6855 |@title wicke:1 company:1 wix:1 complete:1 sale:1 unit:1 |@word wickes:1 companies:1 inc:1 say:1 complete:1 sale:1 sequoia:2 supply:1 division:2 new:2 company:2 create:1 management:1 paul:1 hylbert:1 president:2 name:1 chief:1 executive:1 officer:1
|
WICKES COMPANIES <WIX> COMPLETES SALE OF UNIT
Wickes Companies Inc said
it completed the sale of its Sequoia Supply division to a new
company created by the management of that division.
Paul Hylbert, president of Sequoia, has been named
president and chief executive officer of the new company.
|
training/6856
|
training/6856 |@title ldbrinkman:1 ldbc:1 chief:1 cut:1 cenergy:1 crg:1 stake:1 |@word ldbrinkman:1 corp:2 chairman:1 l:2 brinkman:1 member:1 family:1 say:2 cut:1 stake:1 cenergy:2 3:1 647:1 share:4 0:1 4:2 pct:2 total:1 outstanding:1 912:1 147:1 9:1 filing:1 securities:1 exchange:2 commission:1 group:1 sell:1 302:1 833:1 common:1 snyder:3 oil:1 partner:1 p:1 soi:1 march:1 14:1 2:1 725:1 500:1 dlrs:1 give:1 another:1 605:1 667:1 524:1 135:1 unit:1 limited:1 partnership:1 interest:1
|
LDBRINKMAN <LDBC> CHIEF CUTS CENERGY <CRG> STAKE
LDBrinkman Corp Chairman L.D.
Brinkman and members of his family said they cut their stake in
Cenergy Corp to 3,647 shares, or 0.4 pct of the total
outstanding, from 912,147 shares, or 9.4 pct.
In a filing with the Securities and Exchange Commission,
the group said it sold 302,833 Cenergy common shares to Snyder
Oil Partners L.P. <SOI> on March 14 for 2,725,500 dlrs and gave
Snyder another 605,667 shares, in exchange for 524,135 units of
limited partnership interests in Snyder.
|
training/6859
|
training/6859 |@title inter:1 tel:1 inc:1 intla:1 1st:1 qtr:1 feb:1 28:1 net:1 |@word shr:1 three:1 ct:2 vs:4 one:1 net:1 235:1 000:5 66:1 rev:1 10:1 mln:1 8:2 202:1 avg:1 shrs:1 7:1 972:1 545:1
|
INTER-TEL INC <INTLA> 1ST QTR FEB 28 NET
Shr three cts vs one ct
Net 235,000 vs 66,000
Revs 10 mln vs 8,202,000
Avg shrs 7,972,000 vs 8,545,000
|
training/686
|
training/686 |@title thunander:1 corp:1 thdr:1 year:1 net:1 |@word shr:1 73:1 ct:2 vs:3 58:1 net:1 1:3 101:1 000:2 901:1 sale:1 32:1 9:1 mln:2 29:1 note:1 result:1 include:1 operation:1 bmd:1 new:1 england:1 inc:1 acquire:1 sept:1 1986:1
|
THUNANDER CORP <THDR> YEAR NET
Shr 73 cts vs 58 cts
Net 1,101,000 vs 901,000
Sales 32.9 mln vs 29.1 mln
Note: Results include operations of BMD of New England Inc,
acquired Sept. 1, 1986.
|
training/6860
|
training/6860 |@title texstyrene:1 corp:1 foam:1 11:1 mth:1 dec:1 31:1 loss:1 |@word shr:1 loss:2 83:1 ct:1 net:1 2:1 115:1 000:1 revs:1 139:1 6:2 mln:2 avg:1 shrs:1 3:1 note:1 company:1 go:1 public:1 february:1 1986:1
|
TEXSTYRENE CORP <FOAM> 11 MTHS DEC 31 LOSS
Shr loss 83 cts
Net loss 2,115,000
Revs 139.6 mln
Avg shrs 3.6 mln
NOTE: Company went public February 1986.
|
training/6861
|
training/6861 |@title fluorocarbon:1 corp:1 fcbn:1 qtly:1 dividend:1 |@word shr:1 seven:2 ct:2 vs:1 prior:1 qtr:1 pay:1 april:2 30:1 record:1 15:1
|
FLUOROCARBON CORP <FCBN> QTLY DIVIDEND
Shr seven cts vs seven cts prior qtr
Pay April 30
Record April 15
|
training/6862
|
training/6862 |@title metro:1 mobile:1 mmct:1 declare:1 stcok:1 dividend:1 |@word metro:1 mobile:1 cts:1 inc:1 say:1 declare:1 10:1 pct:1 stock:1 dividend:2 distribute:1 april:1 13:1 holder:1 record:1 march:1 30:1
|
METRO MOBILE <MMCT> DECLARES STCOK DIVIDEND
Metro Mobile CTS Inc said it declared
a 10 pct stock dividend.
The dividend will be distributed on April 13 to holders of
record March 30.
|
training/6863
|
training/6863 |@title laurentian:1 group:1 see:1 high:1 share:1 net:1 |@word laurentian:4 group:2 corp:4 say:4 expect:1 1987:1 earning:1 per:5 share:6 show:2 proportionate:1 increase:2 1986:2 last:1 year:3 company:5 25:1 7:1 mln:6 dlrs:4 operating:1 profit:2 76:1 ct:4 11:1 1:3 59:1 1985:1 outstanding:1 39:1 27:1 8:1 american:1 holding:1 capital:2 substantial:1 improvement:1 chairman:1 claude:1 castonguay:2 annual:1 meeting:1 recently:1 acquire:1 two:1 small:1 u:3 life:1 insurance:2 eight:1 compare:1 seven:1 68:1 parent:1 firm:1 plan:1 fill:1 national:1 financial:1 service:1 distribution:1 system:1 make:1 acquisition:1 right:1 opportunity:1 occur:1 also:1 may:1 expand:1 continental:1 europe:1 conjunction:1 la:1 victoire:1 french:1
|
LAURENTIAN GROUP SEES HIGHER SHARE NET
<Laurentian Group Corp> said it
expects 1987 earnings per share will show about the same
proportionate increase as in 1986.
Last year, the company had 25.7 mln dlrs operating profit,
or 76 cts per share, up from 11.1 mln dlrs, or 59 cts per
share, in 1985. Shares outstanding increased to 39 mln from
27.8 mln.
The American holding company, Laurentian Capital Corp, will
show a substantial improvement this year, chairman Claude
Castonguay said before the annual meeting.
Laurentian Capital Corp, which recently acquired two small
U.S. life insurance companies, had 1986 profit of 1.1 mln U.S.
dlrs, or eight cts per share, compared to seven mln U.S. dlrs,
or 68 cts per share.
Castonguay said Laurentian Group Corp, the parent firm,
plans to fill out its national financial services distribution
system and make further acquisitions if the right opportunity
occurs.
The company also may expand this year in continental
Europe, in conjunction with La Victoire, a French insurance
company, he said.
|
training/6864
|
training/6864 |@title metro:1 mobile:1 mmct:1 declare:1 stock:1 dividend:1 |@word metro:1 mobile:1 cts:1 inc:1 say:1 declare:1 10:1 pct:1 stock:1 dividend:2 distribute:1 april:1 13:1 holder:1 record:1 march:1 30:1
|
METRO MOBILE <MMCT> DECLARES STOCK DIVIDEND
Metro Mobile CTS Inc said it declared
a 10 pct stock dividend.
The dividend will be distributed on April 13 to holders of
record March 30.
|
training/6865
|
training/6865 |@title tridel:1 enterprises:1 inc:1 year:1 net:1 |@word shr:1 1:1 05:1 dlrs:1 vs:3 51:1 ct:1 net:1 8:1 500:1 000:2 4:1 100:1 revs:1 183:1 2:1 mln:2 136:1 6:1
|
<TRIDEL ENTERPRISES INC> YEAR NET
Shr 1.05 dlrs vs 51 cts
Net 8,500,000 vs 4,100,000
Revs 183.2 mln vs 136.6 mln
|
training/6866
|
training/6866 |@title peru:1 short:1 term:1 trade:1 credit:1 430:1 mln:1 dlrs:1 |@word peru:3 short:2 term:2 foreign:4 trade:4 credit:6 line:3 regard:1 vital:1 ensure:1 smooth:1 commercial:1 transaction:1 double:1 430:1 mln:4 dollar:1 20:1 month:1 government:1 president:1 alan:1 garcia:2 central:1 bank:2 general:1 manager:1 hector:1 neyra:2 tell:2 reporter:1 many:1 90:1 day:1 210:1 dlrs:3 take:1 office:1 1985:1 announce:1 tough:1 stance:1 limit:1 debt:2 repayment:1 10:1 pct:1 export:1 earning:1 reuters:1 current:1 interest:1 payment:2 include:1 750:1 call:1 working:1 capital:1 880:1 1982:1 fall:1 1984:1 stop:1 private:1
|
PERU SHORT-TERM TRADE CREDIT UP TO 430 MLN DLRS
Peru's short-term foreign trade credit
lines, regarded as vital to ensure smooth foreign commercial
transactions, have more than doubled to 430 mln dollars under
the 20-month government of president Alan Garcia.
Central bank general manager Hector Neyra told reporters
many of the credits were 90-day.
Trade credits were 210 mln dlrs when Garcia took office in
1985 announcing a tough stance limiting foreign debt repayments
to 10 pct of export earnings.
Neyra told Reuters Peru was current on interest payments on
short-term debt, including trade credit lines and on about 750
mln dlrs in so-called 'working capital' credits.
Trade credit lines were 880 mln dlrs in 1982, but fell in
1984 when Peru stopped some payments to private foreign banks.
|
training/6869
|
training/6869 |@title u:1 k:1 sell:1 remain:1 31:1 7:1 pct:1 stake:1 bp:1 |@word british:4 conservative:1 government:7 say:5 would:4 sell:4 remain:2 31:1 7:2 pct:2 shareholding:1 petroleum:1 co:1 plc:2 bp:4 l:1 next:1 financial:4 year:2 start:1 april:3 1:1 treasury:3 secretary:1 norman:1 lamont:2 make:1 announcement:1 parliament:1 policy:2 minority:1 holding:1 company:2 circumstance:1 permit:1 part:1 able:1 announce:1 subject:1 market:1 condition:1 share:5 1987:1 88:1 last:1 sale:5 september:2 1983:2 currently:1 hold:1 578:1 5:2 mln:2 ordinary:1 appoint:1 adviser:1 merchant:1 bank:1 stockbroker:1 interested:1 consider:1 interview:1 early:1 u:1 k:1 150:1 underwritten:1 offer:1 tender:2 striking:1 price:2 435:1 penny:1 minimum:1 spokesman:1 cut:1 across:1 plan:1 privatise:1 rolls:1 royce:1 either:2 may:1 baa:1 airports:1 authority:1 slate:1 privatisation:1 june:1 july:1
|
U.K. TO SELL OFF REMAINING 31.7 PCT STAKE IN BP
The British Conservative government said
it would sell off its remaining 31.7 pct shareholding in
British Petroleum Co Plc <BP.L> during the next financial year
which starts on April 1.
Treasury Financial Secretary Norman Lamont made the
announcement to Parliament. He said, 'The government's policy is
to sell its minority holdings in companies as and when
circumstances permit.
'As part of this policy I am now able to announce that,
subject to market conditions, the government will sell its
remaining shares in BP during the 1987/88 financial year.'
The last sale of British government shares in BP was in
September 1983. The government currently holds some 578.5 mln
ordinary shares in the company.
Lamont said the Treasury would appoint financial advisers
for the sale. Merchant banks and stockbrokers interested in
being considered for this would be interviewed in early April.
In September 1983, the U.K. Government sold 150 mln shares
in an underwritten offer for sale by tender. The striking price
then was 435 pence - 7.5 pct above the minimum tender price, a
Treasury spokesman said.
He said the sale of BP shares would not cut across the
government's plans to privatise Rolls-Royce, in either April or
May, or the sale of BAA Plc, the British airports authority
which is slated for privatisation in either June or July.
|
training/687
|
training/687 |@title final:1 trust:1 thrift:1 institution:1 payout:1 set:1 |@word massachusetts:1 financial:1 services:1 co:1 say:1 set:1 final:1 income:1 capital:1 gain:1 distribution:1 trust:1 thrift:1 institution:1 high:1 yield:1 series:1 1:1 069:1 dlrs:2 7:1 645:1 respectively:1 payable:1 today:1
|
FINAL TRUST FOR THRIFT INSTITUTIONS PAYOUT SET
<Massachusetts Financial Services Co>
said it has set the final income and capital gain distributions
for <Trust for Thrift Institutions High Yield Series> of 1.069
dlrs and 7.645 dlrs, respectively, payable today.
|
training/6871
|
training/6871 |@title eia:2 say:2 distillate:2 7:2 6:2 mln:6 bbls:2 gasoline:2 3:2 4:6 crude:2 |@word
|
EIA SAYS DISTILLATES OFF 7.6 MLN BBLS, GASOLINE OFF 3.4 MLN, CRUDE OFF 4.4 MLN
EIA SAYS DISTILLATES OFF 7.6 MLN BBLS, GASOLINE OFF 3.4 MLN, CRUDE OFF 4.4 MLN
|
training/6872
|
training/6872 |@title east:1 rand:1 mine:1 expect:1 high:1 gold:1 production:1 |@word east:1 rand:2 proprietary:1 mines:1 ltd:1 say:2 bar:1 major:1 disruption:1 production:2 expect:2 1987:2 gold:2 output:1 top:1 10:2 tonne:2 drop:2 9:1 223:1 last:2 year:2 251:1 1985:1 chairman:1 clive:1 knobbs:1 annual:1 report:1 mine:1 mill:2 high:1 tonnage:2 capital:1 expenditure:1 around:1 118:1 5:1 mln:1 decline:2 due:1 four:1 pct:2 seven:1 grade:1
|
EAST RAND MINES EXPECT HIGHER GOLD PRODUCTION
East Rand Proprietary Mines Ltd
said that barring any major disruption in production, it
expects 1987 gold output to top 10 tonnes after dropping to
9.223 tonnes last year from 10.251 in 1985.
Chairman Clive Knobbs said in the annual report the mine
was expected to mill a higher tonnage while capital expenditure
during 1987 will be around 118.5 mln rand.
The decline in gold production last year was due to a four
pct drop in tonnage milled and a seven pct decline in grade.
|
training/6873
|
training/6873 |@title snyder:1 soi:1 buy:1 stake:1 cenergy:1 |@word snyder:1 oil:1 partner:1 lp:1 say:2 acquire:1 1:1 2:1 mln:1 share:1 12:1 pct:1 cenergy:1 corp:1 continue:1 review:1 investment:1 make:1 determination:1 future:1 course:1 action:1
|
SNYDER <SOI> BUYS STAKE IN CENERGY
Snyder Oil Partners LP said
it acquired 1.2 mln shares, or 12 pct, of Cenergy Corp.
It said it is continuing to review its investment and has
made no determination of its future course of action.
|
training/6874
|
training/6874 |@title far:1 west:1 financial:1 fwf:1 buy:1 progressive:1 |@word progressive:3 savings:2 loan:2 association:2 prsl:1 say:2 agree:1 principle:1 purchase:1 far:2 west:2 financial:1 corp:1 acquisition:1 would:1 cash:1 merger:1 shareholder:2 receive:1 three:1 dlrs:2 per:1 share:1 company:1 saving:1 asset:1 500:1 mln:1 operate:1 ten:1 office:1 los:1 angeles:1 orange:1 county:1 agreement:1 subject:1 federal:1 approval:1
|
FAR WEST FINANCIAL <FWF> TO BUY PROGRESSIVE
Progressive Savings and Loan
Association <PRSL> said it has agreed in principle to be
purchased by Far West Financial Corp's Far West Savings and
Loan Association.
The acquisition would be a cash merger, with Progressive
shareholders receiving up to three dlrs per share, the company
said.
Progressive Savings has assets of about 500 mln dlrs and
operates ten offices in Los Angeles and Orange counties.
The agreement is subject to federal and shareholder
approval.
|
training/6875
|
training/6875 |@title community:1 savings:1 bank:1 csbn:1 qtly:1 dividend:1 |@word qtly:1 div:1 six:2 ct:2 vs:1 prior:1 pay:1 april:2 17:1 record:1 3:1
|
COMMUNITY SAVINGS BANK <CSBN> QTLY DIVIDEND
Qtly div six cts vs six cts prior
Pay April 17
Record April 3.
|
training/6876
|
training/6876 |@title division:1 see:1 help:1 u:1 oil:1 industry:1 |@word u:12 congress:5 oil:21 industry:8 deeply:2 divide:2 way:1 government:2 assist:1 hurt:2 sharp:1 fall:2 price:10 subsequent:1 growth:1 import:11 analyst:4 say:18 support:4 tariff:3 believe:2 tax:5 incentive:3 well:1 daniel:1 yergin:4 director:1 cambridge:1 energy:5 research:2 associates:1 recently:1 complete:1 survey:4 issue:1 see:1 mount:1 within:1 rather:1 fee:8 today:1 secretary:1 john:2 herington:1 propose:1 increase:2 edomestic:1 natural:1 gas:1 exploration:3 production:5 reagan:1 administration:1 consideration:1 white:1 house:1 spokesman:1 marlin:1 fitzwater:1 proposal:1 would:6 review:1 herrington:1 like:1 shoot:1 one:1 mln:2 barrel:2 day:1 addition:1 output:3 8:1 4:1 bpd:1 week:2 march:1 13:1 six:1 pct:8 last:2 year:3 american:1 petroleum:3 institute:1 forecast:1 average:2 18:1 dlrs:3 many:1 move:2 level:3 unlikey:1 near:1 term:1 paul:1 mlotok:1 salomon:1 brothers:1 inc:2 even:1 rise:3 two:1 alter:1 scenerio:1 17:1 50:3 renew:2 drilling:4 reverse:1 decline:3 crude:1 take:1 place:1 company:3 wait:1 stable:1 20:1 lichtblau:3 president:2 foundation:1 new:1 york:1 recent:1 testimony:1 continue:2 virtually:1 inevitable:1 realistic:1 scenario:1 future:1 rate:2 much:2 function:1 world:1 policy:1 lichtbalu:1 break:1 could:3 use:1 raise:2 work:1 time:2 lower:1 produce:1 burden:1 probably:1 slow:1 stimulant:1 cost:1 small:1 independent:1 look:1 immediate:1 relief:1 bring:1 ronald:1 tappmeyer:1 international:1 association:2 contractor:1 member:1 trade:1 asssociation:1 convince:1 variable:1 set:1 minimum:1 trigger:1 protect:2 nation:1 represent:1 1:1 300:1 service:1 cera:1 show:2 face:1 stiff:1 uphill:1 battle:1 poll:1 conduct:1 january:1 former:1 congressman:3 orval:1 hansen:1 22:1 largely:1 means:1 domestic:1 48:1 oppose:1 respondent:1 consumer:1 regional:1 interest:1 80:1 sample:1 grow:1 requirement:2 critical:1 symbolic:1 may:1 legislate:1 certainly:1 pressure:1 form:1 action:1 telephone:1 interview:1 dependency:1 likely:1 happen:1 1990:1 1986:1 33:1 shopuld:1 34:1 1987:1 add:1
|
DIVISION SEEN ON HOW TO HELP U.S. OIL INDUSTRY
The U.S. Congress and the oil industry
are deeply divided on ways the government should assist the
industry, hurt by the sharp fall in oil prices, and the
subsequent growth in oil imports, industry analysts said.
'The industry is deeply divided between those who support an
oil tariff and those who believe tax incentives are better,'
said Daniel Yergin, director of Cambridge Energy Research
Associates, which recently completed a survey of the U.S.
Congress on energy issues.
Yergin said he saw mounting support within Congress for tax
incentives rather than an oil tariff or import fee.
Today U.S. Energy Secretary John Herington said he will
propose tax incentives to increase edomestic oil and natural
gas exploration and production to the Reagan Administration for
consideration. White House spokesman Marlin Fitzwater said the
proposal would be reviewed.
Herrington said, 'I would like to shoot for one mln barrels
a day (addition) to U.S. production.' U.S. oil output was off to
8.4 mln bpd in the week of March 13, down six pct from last
year, the American Petroleum Institute said.
Oil industry analysts have forecast oil prices to average
about 18 dlrs a barrel for the year and many believe that a
move above that level will be unlikey for the near term.
Paul Mlotok, oil analyst for Salomon Brothers Inc said that
'even with the rise in prices for the last week or two we've
only altered our average price scenerio to about 17.50 dlrs for
the year.'
Analysts said that at that price renewed drilling and
exploration to reverse the decline in U.S. crude oil output
will not take place as the companies are waiting for stable
prices over 20 dlrs to renew exploration.
John Lichtblau, president of the Petroleum Industry
Research Foundation Inc in New york in recent testimony to
Congress said 'The continuing decline in U.S. oil production is
virtually inevitable under any realistic price scenario. But
the future rate of decline is very much a function of world oil
prices and U.S. government policy.'
Lichtbalu said that tax breaks could be used to raise oil
production but would only work over time.
'Lowering the producing industry's tax burden would probably
be a slower stimulant (to output) than a price increase but
would not raise energy costs.' Lichtblau said.
But the small independent oil companies who do much of the
drilling in the U.S. are looking for the more immediate relief
which could be brought on by an oil import fee.
Ronald Tappmeyer, president of the International
Association of Drilling Contractors, said, 'The members of our
trade asssociation are convinced that only a variable oil
import fee that sets a minimum price trigger can protect our
nation.' The association represents some 1,300 drilling and oil
service companies.
The CERA survey of Congress shows that the oil import fee
will face a stiff uphill battle.
Yergin said that the poll which was conducted in January by
a former Congressman, Orval Hansen, showed support for the oil
import fee from 22 pct of the Congressmen surveyed largely as a
means of protecting the domestic petroleum industry.
At the same time 48 pct of the Congressmen surveyed
opposed the fee with the respondents saying the tariff would
hurt consumers and some regional interests.
But 80 pct of the sample said support for a fee could grow
if production continued to fall and imports to rise.
Yergin said that imports above 50 pct of U.S. requirements
'is a critical, symbolic level. If they (imports) move above
that level, a fee may not be legislated but there will
certainly be pressure for some form of action.'
But Lichtblau, in a telephone interview, said, 'a 50 pct
rate of import dependency is not likely to happen before 1990.
In 1986 U.S. oil imports rose to 33 pct of u.s. energy
requirements and shopuld be about 34 pct in 1987, he added.
|
training/6877
|
training/6877 |@title texstyrene:1 foam:1 suspend:1 prefer:1 payment:1 |@word texstyrene:1 corp:1 say:6 suspend:2 quarterly:1 cash:1 dividend:3 payment:4 9:1 5:1 pct:1 convertible:1 exchangeable:1 preferred:3 stock:1 suspension:2 effect:1 march:1 15:1 expect:1 pay:1 forseeable:1 future:1 certain:1 covenant:1 contain:1 loan:2 agreement:1 spokesman:2 company:2 loss:1 2:1 115:1 000:2 dlrs:2 first:1 11:1 month:1 public:1 meet:1 income:1 condition:1 lead:1 maker:1 foam:1 cup:1 food:1 container:1 product:1 733:1 332:1 outstanding:1 share:2 privately:1 place:1 amount:1 1:1 045:1 per:1 year:1
|
TEXSTYRENE <FOAM> SUSPENDS PREFERRED PAYMENTS
Texstyrene Corp said it has
suspended quarterly cash dividend payments on its 9.5 pct
convertible exchangeable preferred stock.
The suspension effects the March 15 payment, and it said it
does not expect to pay preferred dividends in the forseeable
future.
It said the payments were suspended because of certain
covenants contained in its loan agreements. A spokesman said
the company's loss of 2,115,000 dlrs for the first 11 months as
a public company did not meet an income condition on the loans,
leading to the suspension.
The maker of foam cups, food containers and other products
said it had 733,332 outstanding preferred shares, which had
been privately placed.
The dividend payments on the shares amounted to 1,045,000
dlrs per year, the spokesman said.
|
training/688
|
training/688 |@title rpt:1 u:2 say:1 tin:1 disposal:1 affect:1 accord:1 |@word tin:6 disposal:1 little:1 effect:1 agreement:2 reach:1 last:2 weekend:1 produce:2 country:2 limit:1 group:1 export:1 96:1 000:1 tonne:2 year:2 start:1 march:1 1:1 government:2 official:1 say:2 seven:1 member:1 association:1 atpc:2 aim:1 cut:1 world:1 surplus:1 boost:1 price:1 follow:1 accord:1 chairman:1 subroto:1 appeal:1 united:2 states:2 restrict:1 release:2 strategic:1 stockpile:1 think:1 u:1 large:1 influence:1 market:1 stage:1 game:1 thomas:1 donnell:1 director:1 international:1 commodity:1 state:1 department:1 4:1 900:1 two:1 ferroalloy:1 firm:1
|
(RPT) U.S. SAYS TIN DISPOSALS WILL NOT AFFECT ACCORD
U.S. tin disposals should have little
effect on an agreement reached last weekend by tin producing
countries to limit group exports to 96,000 tonnes in the year
started March 1, a government official said.
The agreement by the seven-member Association of Tin
Producing Countries (ATPC) aimed to cut the world surplus and
boost prices. Following the accord, ATPC Chairman Subroto
appealed to the United States to restrict its tin releases from
its strategic stockpile.
'We don't think that (the U.S. government) has a large
influence in the (tin) market at this stage of the game,' said
Thomas O'Donnell, Director of International Commodities at the
State Department. Last year the United States released about
4,900 tonnes of tin to two ferroalloy firms.
|
training/6880
|
training/6880 |@title spectran:1 corp:1 sptr:1 4th:1 qtr:1 |@word shr:2 loss:4 2:4 22:1 dlrs:4 vs:6 profit:4 16:2 ct:2 net:2 10:1 mln:9 760:1 443:1 revs:2 1:2 3:4 7:3 year:2 68:1 64:1 9:1 6:3 15:1 note:1 1986:1 4th:1 qtr:1 include:2 dlr:1 restructuring:1 charge:1 writedown:2 280:1 000:1
|
SPECTRAN CORP <SPTR> 4TH QTR
Shr loss 2.22 dlrs vs profit 16 cts
Net loss 10.2 mln vs profit 760,443
Revs 1.1 mln vs 3.7 mln
Year
Shr loss 3.68 dlrs vs profit 64 cts
Net loss 16.9 mln vs profit 2.7 mln
Revs 3.6 mln vs 15.2 mln
NOTE:1986 4th qtr includes 6.7 mln dlr restructuring charge
and writedowns of 280,000 dlrs. year includes writedown of 3.6
mln dlrs.
|
training/6881
|
training/6881 |@title vanguard:1 index:1 trust:1 quarterly:1 dividend:1 |@word qtly:1 div:1 18:2 ct:2 vs:1 prior:1 pay:1 april:1 30:1 record:1 march:1 26:1
|
<VANGUARD INDEX TRUST> QUARTERLY DIVIDEND
Qtly div 18 cts vs 18 cts prior
Pay April 30
Record March 26.
|
training/6882
|
training/6882 |@title shultz:1 say:1 u:1 product:1 must:1 competitive:1 |@word ask:1 u:3 state:2 department:2 policy:1 offer:2 subsidized:2 wheat:6 moscow:1 secretary:1 george:1 shultz:3 tell:3 group:1 farm:2 leader:1 product:4 must:2 competitive:2 world:1 market:3 go:2 sell:1 whatever:1 may:1 anything:1 else:2 meet:1 board:1 director:1 national:1 association:1 grower:2 ridiculous:1 say:4 somebody:1 buy:3 get:1 thing:1 low:1 price:4 somewhere:1 approach:2 negotiation:1 soviets:1 look:1 american:3 program:1 try:1 figure:1 make:1 well:1 schultz:1 favor:1 situation:1 would:2 allow:1 soviet:3 housewife:2 food:1 cheap:1 realize:1 importance:1 agricultural:1 competitively:2 speculation:1 time:1 united:1 states:1 consider:1 union:1 official:3 agriculture:1 decline:1 take:1 position:1 issue:1
|
SHULTZ SAYS U.S. PRODUCTS MUST BE COMPETITIVE
Asked what the U.S. State
Department's policy is on offering subsidized wheat to Moscow,
Secretary of State George Shultz told a group of farm leaders
that U.S. products must be competitive in the world market.
'If we are going to sell our products, whatever they may
be, wheat or anything else, then we have to meet the market,'
Shultz told the board of directors for the National Association
of Wheat Growers.
'We have to be competitive. It's ridiculous to say that
somebody is going to buy your product if they can get the same
thing at a lower price somewhere else. They just aren't,' he
said.
'That is our approach in the negotiations with the Soviets,
and it must be our approach as we look at the American farm
program and try to figure out what we should do to make it
better,' Shultz told the Wheat Growers.
Schultz said that while he does not favor a situation that
would allow the Soviet housewife to buy food cheaper than the
American housewife, he realizes the importance of American
agricultural products being competitively priced.
Speculation has been in the market for some time that the
United States is considering offering wheat to the Soviet Union
at subsidized prices.
Soviet officials have said they would buy U.S. wheat if it
were competitively priced. Agriculture Department officials
have declined to take any official position on the issue.
|
training/6884
|
training/6884 |@title canadian:1 pacific:1 seek:1 buyer:1 maple:1 leaf:1 unit:1 |@word canadian:3 pacific:1 ltd:2 say:2 retain:1 wood:1 gundy:1 inc:1 seek:1 buyer:1 maple:2 leaf:2 mills:1 toronto:1 company:2 1986:1 sale:1 819:1 mln:2 dlrs:2 tax:1 profit:1 16:1 3:1 diversified:1 agriproduct:1 produce:1 sell:1 industrial:1 consumer:1 flour:2 base:1 product:1 bake:1 good:1 also:1 operate:1 fully:1 integrate:1 poultry:2 business:2 rendering:1 market:1 livestock:1 feed:1 distribute:1 grain:1 network:1 country:1 terminal:1 elevator:1
|
CANADIAN PACIFIC SEEKS BUYER FOR MAPLE LEAF UNIT
Canadian Pacific Ltd said it retained
Wood Gundy Inc to seek a buyer for Maple Leaf Mills Ltd of
Toronto.
The company said Maple Leaf had 1986 sales of 819 mln
Canadian dlrs and an after tax profit of 16.3 mln Canadian
dlrs. It is a diversified agriproducts company which produces
and sells industrial and consumer flour, flour-based products
and baked goods.
It also operates a fully integrated poultry business and a
rendering business, markets livestock and poultry feed and
distributes grain through a network of country and terminal
elevators.
|
training/6886
|
training/6886 |@title greyhound:1 corp:1 g:1 complete:1 bus:1 line:1 sale:1 |@word greyhound:4 corp:2 say:2 complete:1 sale:1 line:1 unit:1 dallas:1 base:1 gli:2 holdings:1 inc:1 350:1 mln:1 dlrs:1 cash:1 security:1 royalty:1 consideration:1 authorize:1 continue:2 use:2 familiar:1 run:2 dog:2 logo:1 red:1 white:1 blue:1 shield:1 alone:1 symbol:1
|
GREYHOUND CORP <G> COMPLETES BUS LINE SALE
Greyhound corp said it completed
the sale of its Greyhound Lines unit to Dallas-based GLI
Holdings Inc for 350 mln dlrs in cash, securities, royalties
and other considerations.
Greyhound said GLI is authorized to continue using the
familiar running dog logo on a red, white and blue shield,
while Greyhound Corp will continue to use the running dog alone
as its symbol.
|
training/6887
|
training/6887 |@title intercare:1 care:1 drop:1 offer:1 buyout:1 plan:1 |@word intercare:3 inc:2 say:3 terminate:1 plan:1 acquire:1 universal:1 care:1 california:1 health:1 mainenance:1 organization:1 follow:1 first:1 jersey:1 security:2 decision:1 withdraw:1 underwriter:1 propose:1 public:1 debt:2 equity:1 offer:1 acquisition:2 contingent:1 ability:1 obtain:1 financing:1 fund:1 1:3 9:1 mln:4 dlr:2 cash:1 portion:1 purchase:1 price:1 also:1 offering:1 aim:1 raise:1 7:3 5:1 dlrs:1 work:1 capital:2 repay:1 incur:1 connection:1 recent:1 u:1 medical:1 enterprises:1 company:1 state:1 working:1 deficit:1 therefore:1 reduce:1 operating:2 expense:1 decrease:1 hour:1 workforce:1 reduction:1 sale:1 certain:1 asset:1
|
INTERCARE <CARE> DROPS OFFERING, BUYOUT PLANS
InterCare Inc said it
terminated plans to acquire Universal Care, a California health
mainenance organization, following First Jersey Securities'
decision to withdraw as underwriter for InterCare's proposed
public debt and equity securities offering.
The acquisition was contingent on its ability to obtain
financing to fund the 1.9 mln dlr cash portion of the purchase
price, InterCare said.
It also said the offering was aimed at raising 7.5 mln dlrs
for working capital and 1.7 mln to repay debt incurred in
connection with its recent acquisition of U.S. Medical
Enterprises Inc.
The company further stated that it has a 1.7 mln dlr
working capital deficit and it will therefore reduce operating
expenses by decreasing operating hours, workforce reductions
and the sale of certain assets.
|
training/6888
|
training/6888 |@title providence:1 energy:1 pvy:1 finalize:1 acquisition:1 |@word providence:1 energy:1 corp:1 say:1 complete:1 purchase:1 north:2 attleboro:2 gas:1 co:1 term:1 disclose:1 serve:1 2:1 273:1 residential:1 customer:3 288:1 commercial:1 40:1 industrial:1
|
PROVIDENCE ENERGY <PVY> FINALIZES ACQUISITION
Providence Energy Corp said it
completed the purchase of North Attleboro Gas co.
Terms were not disclosed.
North Attleboro serves 2,273 residential customers, 288
commercial customers, and 40 industrial customers.
|
training/689
|
training/689 |@title rospatch:2 respond:2 diagnostic:2 bid:2 |@word
|
ROSPATCH TO RESPOND TO DIAGNOSTIC BID
ROSPATCH TO RESPOND TO DIAGNOSTIC BID
|
training/6890
|
training/6890 |@title argentine:1 maize:1 soybean:1 forecast:1 fall:1 |@word argentine:1 grain:2 grower:3 reduce:1 estimate:8 maize:5 soybean:6 production:5 current:3 harvest:16 week:12 yesterday:2 trade:1 source:1 say:1 1986:1 87:1 reach:3 7:8 eight:2 mln:19 tonne:11 versus:3 8:8 2:10 ago:5 4:5 mid:1 february:1 even:1 low:6 would:2 5:3 12:2 pct:14 great:1 last:5 year:3 total:13 1:9 accord:2 official:2 figure:3 new:2 record:5 area:11 plant:11 3:14 hectare:8 increase:1 10:6 13:2 compare:3 change:1 yield:2 due:1 high:1 temperature:2 inadequate:1 rainfall:2 since:2 early:2 produce:4 belt:1 southern:1 cordoba:2 santa:1 fe:1 northern:1 buenos:2 aire:2 province:3 heat:1 lack:1 rain:7 combine:1 leave:1 many:1 pod:1 empty:1 especially:1 intense:2 recent:4 affect:1 crop:3 slight:1 main:1 isolate:1 weak:1 one:1 mm:1 clear:1 sky:1 seasonable:1 field:1 able:1 dry:1 receive:1 heavy:2 allow:1 accelerate:1 pace:1 sunflower:1 sorghum:4 harvesting:1 consider:1 generally:1 good:1 condition:1 though:1 still:1 judge:1 whether:1 cause:1 long:1 term:1 damage:1 advance:1 20:2 22:3 15:3 stand:2 58:1 78:1 two:2 seven:1 85:1 previous:2 expect:2 9:3 21:1 sunflow:2 advanced:1 23:1 18:1 29:1 36:1 14:1 1985:1 86:1 volume:3 6:1 34:1 41:1 vary:1 widely:1 fear:1 may:1 take:1 toll:1 consequently:1 nine:1 11:1 four:1 six:1 remain:1 16:1
|
ARGENTINE MAIZE, SOYBEAN FORECASTS FALL
Argentine grain growers reduced
their estimates for maize and soybean production in the current
harvest in the week to yesterday, trade sources said.
Soybean production for 1986/87 is now estimated to reach
between 7.7 and eight mln tonnes, versus 7.8 to 8.2 mln tonnes
estimated a week ago and eight to 8.4 mln tonnes estimated in
mid-February.
But even the lowest of those estimates would be 8.5 to 12.7
pct greater than last year's total of 7.1 mln tonnes, according
to official figures, and would be a new record.
The total area planted with soybeans for this harvest was a
record 3.7 to 3.8 mln hectares and increased 10.8 to 13.8 pct
compared to the 3.3 mln hectares planted last year.
The change in yield estimates is due to very high
temperatures and inadequate rainfall since early in the year in
the soybean-producing belt of southern Cordoba and Santa Fe and
northern Buenos Aires province.
The heat and lack of rain combined to leave many soybean
pods empty, especially in Cordoba.
Intense rains in recent weeks did not affect crops, since
rainfall was slight in most main soybean-producing areas.
Rains in the week to yesterday were isolated and weak in
Buenos Aires province, totalling between one and 10 mm. There
was no recorded rain in other grain-producing provinces.
With clear skies and seasonable temperatures, fields were
able to dry in areas that had received heavy rains in recent
weeks, allowing growers to accelerate the pace of maize,
sunflower and sorghum harvesting.
Crops were considered in generally good condition, though
it is still too early to judge whether the intense rains of
recent weeks caused any long-term damage.
The maize harvest advanced to between 20 and 22 pct of the
total area planted, compared to 13 to 15 pct a week ago.
Total area planted with maize for this harvest stood at
3.58 to 3.78 mln hectares, down two to seven pct from the 3.85
mln hectares planted in the previous harvest.
Total production for the current maize harvest is expected
to reach between 9.9 and 10.1 mln tonnes, versus 10 to 10.2 mln
tonnes estimated a week ago. The new figure is 21.1 to 22.7 pct
lower than the 12.8 mln tonnes produced in the last harvest,
according to official figures.
The sunflower harvest advanced to between 20 and 23 pct of
total planted area, versus 15 to 18 pct a week ago.
Total area planted with sunflower for this harvest was two
to 2.2 mln hectares, or 29.9 to 36.3 pct lower than the record
3.14 mln hectares planted in the 1985/86 harvest.
The current harvest's volume was again expected to be
between 2.3 and 2.6 mln tonnes, or 34.1 to 41.5 pct lower than
last harvest's record 4.1 mln tonnes.
Yields varied widely from area to area, and growers feared
that heavy rains in recent weeks may have taken their toll on
crops and, consequently, on total production volume.
The sorghum harvest reached between nine and 11 pct of
total planted area, compared to four to six pct a week ago.
Total area planted with sorghum stood at between 1.2 and
1.3 mln hectares, or 10.3 to 15.2 pct lower than the 1.4 mln
hectares planted in the previous harvest.
Estimates for total sorghum production this harvest
remained at 3.2 to 3.5 mln tonnes again this week, or 16.7 to
22 pct lower than last harvest's total volume of 4.1 to 4.2 mln
tonnes.
|
training/6893
|
training/6893 |@title recent:1 u:2 oil:1 demand:1 2:1 3:1 pct:1 year:1 ago:1 |@word oil:2 demand:4 measure:1 product:1 supply:2 rise:1 2:3 3:4 pct:7 four:2 week:2 end:1 march:2 13:1 16:2 49:1 mln:14 barrel:1 per:1 day:1 bpd:7 11:3 period:2 year:6 ago:2 energy:2 information:1 administration:1 eia:4 say:6 weekly:1 petroleum:2 status:1 report:1 department:1 agency:2 distillate:1 9:3 43:1 33:1 early:1 gasoline:1 average:2 6:2 93:1 4:1 0:2 67:1 last:1 residual:1 fuel:1 1:4 31:1 7:1 42:1 domestic:1 crude:3 production:1 estimate:1 8:3 36:1 10:1 gross:1 daily:1 import:1 exclude:1 spr:1 70:1 24:1 96:1 refinery:1 run:1 92:1 80:1 earlier:1 date:1 figure:1 become:2 available:2 26:1 monthly:1 datum:1 january:1 1987:1
|
RECENT U.S. OIL DEMAND UP 2.3 PCT FROM YEAR AGO
U.S. oil demand as measured by
products supplied rose 2.3 pct in the four weeks ended March 13
to 16.49 mln barrels per day (bpd) from 16.11 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 up 2.9 pct in the
period to 3.43 mln bpd from 3.33 mln a year earlier.
Gasoline demand averaged 6.93 mln bpd, up 4.0 pct from 6.67
mln last year, while residual fuel demand was 1.31 mln bpd, off
7.9 pct from 1.42 mln, the EIA said.
Domestic crude oil production was estimated at 8.36 mln
bpd, down 8.1 pct from 9.10 mln a year ago, and gross daily
crude imports (excluding those for the SPR) averaged 3.70 mln
bpd, up 24.8 pct from 2.96 mln, the EIA said.
Refinery crude runs in the four weeks were 11.92 mln bpd,
up 1.0 pct from 11.80 mln a year earlier, it said.
Year-to-date figures will not become available until March
26 when EIA's Petroleum Supply Monthly data for January 1987
becomes available, the agency said.
|
training/6894
|
training/6894 |@title mesa:1 royalty:1 trust:1 mrt:1 monthly:1 payout:1 |@word mesa:1 royalty:1 trust:1 mrt:1 say:1 unit:2 holder:1 record:1 march:1 31:1 receive:1 distribution:1 amount:1 55:1 192:1 dlrs:1 2:1 96:1 ct:1 per:1 payable:1 april:1 30:1
|
MESA ROYALTY TRUST <MRT> MONTHLY PAYOUT
Mesa Royalty Trust <MRT> said unit
holders of record March 31 will receive a distribution
amounting to 55,192 dlrs or 2.96 cts per unit, payable April
30.
|
training/6897
|
training/6897 |@title taiwan:1 buy:1 450:1 000:1 tonne:1 u:1 corn:1 |@word taiwan:1 overnight:1 buy:1 450:1 000:1 tonne:3 u:1 number:1 two:1 corn:1 14:1 5:1 pct:1 moisture:1 gulf:2 west:2 coast:2 shipment:3 11:1 cargo:1 may:1 october:1 private:1 export:1 source:1 say:2 range:2 price:1 75:1 17:1 78:1 45:1 dlrs:2 per:2 stow:2 trim:2 fob:2 euqivalent:1 79:1 41:1 81:1 02:1 equivalent:1
|
TAIWAN BUYS 450,000 TONNES OF U.S. CORN
Taiwan overnight bought 450,000
tonnes of U.S. number two corn, 14.5 pct moisture, for Gulf and
West Coast shipment in 11 cargoes between May and October,
private export sources said.
Gulf shipment ranged in prices from 75.17 to 78.45 dlrs per
tonne stowed and trimmed, FOB euqivalent, and West Coast
shipments ranged from 79.41 to 81.02 dlrs per tonne, stowed and
trimmed, FOB equivalent, they said.
|
training/6898
|
training/6898 |@title result:1 await:1 egypt:1 pl:1 480:1 wheat:1 tender:1 |@word result:1 await:1 egypt:1 tender:1 today:1 200:1 000:1 tonne:1 u:1 soft:1 white:1 wheat:1 april:1 shipment:1 pl:1 480:1 private:1 export:1 source:1 say:1
|
RESULTS AWAITED ON EGYPT PL 480 WHEAT TENDER
Results were awaited on Egypt's
tender today for 200,000 tonnes of U.S. soft or white wheat for
April shipment under PL 480, private export sources said.
|
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