Subject: test12.log From: jvncnet!wilbur.coyote.trw.com!cwong (Chun Wong) Date: Fri, 15 Apr 94 16:16:06 PDT
How the Web Was Won
Subject: test12.log
From: jvncnet!wilbur.coyote.trw.com!cwong (Chun Wong)
Date: Fri, 15 Apr 94 16:16:06 PDT
Content-Length: 11710
Status: RO
X-Lines: 361
(cwong@butch-san.107)!!
dvnews ~/elcss/lib/dow_vision.cfg
DVnews message handler configuration:
dv_linkmsg: "/home/jimmy/0/cwong/elcss/src/work/LinkDfsDocByDVTag"
dv_delmsg: "/home/jimmy/0/cwong/elcss/src/work/DelDfsDocByDVTag"
dv_getmetadata: "/home/jimmy/0/cwong/elcss/src/work/GetMetadata"
dv_getheadline: "/home/jimmy/0/cwong/elcss/src/work/GetHeadline"
dv_getstory: "/home/jimmy/0/cwong/elcss/src/work/GetStory"
dv_getsection: "/home/jimmy/0/cwong/elcss/src/work/GetSection"
dv_startup: "/home/jimmy/0/cwong/elcss/src/work/InitJNtab"
Process ID for subaddress 4 is 25704
Process ID for subaddress 5 is 25705
Process ID for subaddress 6 is 25706
Process ID for subaddress 7 is 25707
Process ID for subaddress 8 is 25708
Process ID for subaddress 9 is 25709
Process ID for subaddress 11 is 25710
Process ID for subaddress 12 is 25711
[CM, 19940412, 0001]
SYSTEM MESSAGE, Prod: CM, MsgNum: 0001: ( GOOD MORNING. DJ-NRS OPEN
)
Invalid product code found: PD
Invalid product code found: PD
[FF, 19940412, 0001]
SYSTEM MESSAGE, Prod: FF, MsgNum: 0001: ( GOOD MORNING. DJ-NRS OPEN
)
Invalid product code found: PD
[WJ, 19940412, 0001]
SYSTEM MESSAGE, Prod: WJ, MsgNum: 0001: ( GOOD MORNING. DJ-NRS OPEN
)
[PR, 19940412, 0001]
SYSTEM MESSAGE, Prod: PR, MsgNum: 0001: ( GOOD MORNING. DJ-NRS OPEN
)
Invalid product code found: PI
Invalid product code found: PI
[FF, 19940412, 0002]
DV message FF1994041206060002 written.
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0001
DEBUG: struct_len: 352, total: 120
[DI, 19940412, 0001]
SYSTEM MESSAGE, Prod: DI, MsgNum: 0001: ( GOOD MORNING. DJ-NRS OPEN
)
Invalid product code found: PD
[FF, 19940412, 0003]
DV message FF1994041208500003 written.
[WJ, 19940412, 0002]
DV message WJ1994041202550002 written.
[FF, 19940412, 0004]
DV message FF1994041209070004 written.
[CM, 19940412, 0002]
DV message CM1994041206040002 written.
Invalid product code found: PI
[CM, 19940412, 0003]
DV message CM1994041206050003 written.
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0005
DEBUG: struct_len: 913, total: 120
[DI, 19940412, 0002]
DV message DI1994041200240002 written.
[WJ, 19940412, 0003]
[BT, 19940412, 0001]
DV message WJ1994041202550003 written.
SYSTEM MESSAGE, Prod: BT, MsgNum: 0001: ( GOOD MORNING. DJ-NRS OPEN
)
Invalid product code found: PD
[PR, 19940412, 0002]
DV message PR1994041207240002 written.
INCOMPLETE MESSAGE: Prod: CM, MsgNum: 0004
DEBUG: struct_len: 261, total: 119
[CM, 19940412, 0005]
DV message CM1994041206050005 written.
[PR, 19940412, 0003]
DV message PR1994041207270003 written.
[CM, 19940412, 0006]
DV message CM1994041206050006 written.
INCOMPLETE MESSAGE: Prod: PR, MsgNum: 0004
DEBUG: struct_len: 646, total: 145
INCOMPLETE MESSAGE: Prod: PD, MsgNum: 0006
DEBUG: struct_len: 4593, total: 120
[BT, 19940412, 0002]
DV message BT1994041206160002 written.
INCOMPLETE MESSAGE: Prod: FF, MsgNum: 0005
DEBUG: struct_len: 7917, total: 145
[FF, 19940412, 0006]
DV message FF1994041209190006 written.
INCOMPLETE MESSAGE: Prod: BT, MsgNum: 0003
DEBUG: struct_len: 273, total: 120
[PR, 19940412, 0005]
DV message PR1994041207290005 written.
Invalid product code found: PD
[CM, 19940412, 0008]
DV message CM1994041206050008 written.
[PR, 19940412, 0006]
DV message PR1994041207310006 written.
Invalid product code found: PD
[DI, 19940412, 0003]
DV message DI1994041200240003 written.
[DI, 19940412, 0004]
DV message DI1994041200240004 written.
[CM, 19940412, 0009]
DV message CM1994041206050009 written.
[FF, 19940412, 0007]
DV message FF1994041209200007 written.
Invalid product code found: PI
[BT, 19940412, 0004]
DV message BT1994041206160004 written.
INCOMPLETE MESSAGE: Prod: DI, MsgNum: 0005
DEBUG: struct_len: 495, total: 128
[FF, 19940412, 0008]
DV message FF1994041209200008 written.
[DI, 19940412, 0006]
DV message DI1994041200250006 written.
[DI, 19940412, 0007]
DV message DI1994041200250007 written.
INCOMPLETE MESSAGE: Prod: FF, MsgNum: 0009
DEBUG: struct_len: 834, total: 152
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0007
DEBUG: struct_len: 359, total: 120
[FF, 19940412, 0010]
DV message FF1994041209250010 written.
Invalid product code found: PD
[FF, 19940412, 0011]
DV message FF1994041209270011 written.
[PR, 19940412, 0008]
DV message PR1994041207320008 written.
INCOMPLETE MESSAGE: Prod: CM, MsgNum: 0008
DEBUG: struct_len: 732, total: 155
Invalid product code found: PI
[FF, 19940412, 0012]
DV message FF1994041209280012 written.
Invalid product code found: PI
Invalid product code found: PD
[FF, 19940412, 0014]
DV message FF1994041209310014 written.
[WJ, 19940412, 0004]
DV message WJ1994041202550004 written.
[BT, 19940412, 0006]
DV message BT1994041206160006 written.
[PR, 19940412, 0009]
DV message PR1994041207340009 written.
[CM, 19940412, 0011]
DV message CM1994041206050011 written.
INCOMPLETE MESSAGE: Prod: BT, MsgNum: 0003
DEBUG: struct_len: 1458, total: 158
[CM, 19940412, 0012]
DV message CM1994041206060012 written.
[BT, 19940412, 0008]
DV message BT1994041206160008 written.
[WJ, 19940412, 0005]
DV message WJ1994041202550005 written.
INCOMPLETE MESSAGE: Prod: PR, MsgNum: 0008
DEBUG: struct_len: 3256, total: 126
[WJ, 19940412, 0006]
DV message WJ1994041202550006 written.
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0007
DEBUG: struct_len: 2157, total: 120
INCOMPLETE MESSAGE: Prod: CM, MsgNum: 0013
DEBUG: struct_len: 2802, total: 119
[DI, 19940412, 0008]
DV message DI1994041200360008 written.
[PR, 19940412, 0011]
DV message PR1994041207350011 written.
[PR, 19940412, 0012]
SYSTEM MESSAGE, Prod: PR, MsgNum: 0012: ( GOOD EVENING. DJ-NRS CLOSED
)
Invalid product code found: PI
[CM, 19940412, 0014]
DV message CM1994041206080014 written.
[CM, 19940412, 0015]
DV message CM1994041206080015 written.
INCOMPLETE MESSAGE: Prod: WJ, MsgNum: 0007
DEBUG: struct_len: 1976, total: 115
[WJ, 19940412, 0008]
DV message WJ1994041202550008 written.
[FF, 19940412, 0015]
DV message FF1994041209310015 written.
INCOMPLETE MESSAGE: Prod: BT, MsgNum: 0009
DEBUG: struct_len: 2793, total: 137
INCOMPLETE MESSAGE: Prod: CM, MsgNum: 0016
DEBUG: struct_len: 1545, total: 133
[BT, 19940412, 0010]
DV message BT1994041206160010 written.
[WJ, 19940412, 0009]
SYSTEM MESSAGE, Prod: WJ, MsgNum: 0009: ( GOOD EVENING. DJ-NRS CLOSED
)
INCOMPLETE MESSAGE: Prod: DI, MsgNum: 0009
DEBUG: struct_len: 1446, total: 128
INCOMPLETE MESSAGE: Prod: BT, MsgNum: 0011
DEBUG: struct_len: 739, total: 132
INCOMPLETE MESSAGE: Prod: PD, MsgNum: 0011
DEBUG: struct_len: 2157, total: 120
Invalid product code found: PD
Invalid product code found: PD
[BT, 19940412, 0012]
DV message BT1994041206160012 written.
[FF, 19940412, 0016]
DV message FF1994041209550016 written.
Invalid product code found: PD
[DI, 19940412, 0010]
DV message DI1994041200360010 written.
[CM, 19940412, 0017]
DV message CM1994041206080017 written.
INCOMPLETE MESSAGE: Prod: FF, MsgNum: 0015
DEBUG: struct_len: 353, total: 115
Invalid product code found: PD
[CM, 19940412, 0018]
DV message CM1994041206080018 written.
[FF, 19940412, 0018]
DV message FF1994041210010018 written.
[CM, 19940412, 0020]
DV message CM1994041206080020 written.
Invalid product code found: PD
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0013
DEBUG: struct_len: 511, total: 120
[CM, 19940412, 0021]
DV message CM1994041206080021 written.
[DI, 19940412, 0011]
DV message DI1994041200400011 written.
[FF, 19940412, 0019]
SYSTEM MESSAGE, Prod: FF, MsgNum: 0019: ( GOOD EVENING. DJ-NRS CLOSED
)
INCOMPLETE MESSAGE: Prod: CM, MsgNum: 0020
DEBUG: struct_len: 2826, total: 135
Invalid product code found: PI
[CM, 19940412, 0023]
DV message CM1994041206090023 written.
[DI, 19940412, 0012]
DV message DI1994041200400012 written.
[CM, 19940412, 0024]
DV message CM1994041206090024 written.
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0015
DEBUG: struct_len: 3151, total: 315
[DI, 19940412, 0014]
DV message DI1994041200410014 written.
[BT, 19940412, 0014]
DV message BT1994041206170014 written.
Invalid product code found: PI
INCOMPLETE MESSAGE: Prod: BT, MsgNum: 0011
DEBUG: struct_len: 1095, total: 132
INCOMPLETE MESSAGE: Prod: CM, MsgNum: 0025
DEBUG: struct_len: 607, total: 133
[BT, 19940412, 0016]
DV message BT1994041206170016 written.
[CM, 19940412, 0026]
DV message CM1994041206090026 written.
Invalid product code found: PD
INCOMPLETE MESSAGE: Prod: BT, MsgNum: 0017
DEBUG: struct_len: 958, total: 132
Invalid product code found: PI
[CM, 19940412, 0027]
SYSTEM MESSAGE, Prod: CM, MsgNum: 0027: ( GOOD EVENING. DJ-NRS CLOSED
)
Invalid product code found: PD
[BT, 19940412, 0018]
DV message BT1994041206170018 written.
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0014
DEBUG: struct_len: 264, total: 123
[DI, 19940412, 0015]
DV message DI1994041200510015 written.
[BT, 19940412, 0019]
SYSTEM MESSAGE, Prod: BT, MsgNum: 0019: ( GOOD EVENING. DJ-NRS CLOSED
)
Invalid product code found: PI
[DI, 19940412, 0016]
DV message DI1994041200510016 written.
INCOMPLETE MESSAGE: Prod: PI, MsgNum: 0021
DEBUG: struct_len: 919, total: 134
INCOMPLETE MESSAGE: Prod: DI, MsgNum: 0015
DEBUG: struct_len: 1156, total: 120
Invalid product code found: PI
[DI, 19940412, 0018]
DV message DI1994041200560018 written.
Invalid product code found: PD
INCOMPLETE MESSAGE: Prod: PD, MsgNum: 0019
DEBUG: struct_len: 919, total: 134
[DI, 19940412, 0019]
Invalid product code found: PI
DV message DI1994041200560019 written.
Invalid product code found: PD
[DI, 19940412, 0020]
DV message DI1994041201230020 written.
INCOMPLETE MESSAGE: Prod: DI, MsgNum: 0021
DEBUG: struct_len: 1648, total: 120
Invalid product code found: PD
[DI, 19940412, 0022]
DV message DI1994041201270022 written.
[DI, 19940412, 0023]
DV message DI1994041201270023 written.
[DI, 19940412, 0024]
DV message DI1994041201290024 written.
INCOMPLETE MESSAGE: Prod: DI, MsgNum: 0025
DEBUG: struct_len: 1341, total: 120
[DI, 19940412, 0026]
DV message DI1994041201290026 written.
[DI, 19940412, 0027]
DV message DI1994041201290027 written.
[DI, 19940412, 0028]
DV message DI1994041201320028 written.
[DI, 19940412, 0030]
DV message DI1994041201330030 written.
[DI, 19940412, 0031]
DV message DI1994041201330031 written.
[DI, 19940412, 0032]
DV message DI1994041201380032 written.
INCOMPLETE MESSAGE: Prod: DI, MsgNum: 0031
DEBUG: struct_len: 1606, total: 120
[DI, 19940412, 0034]
SYSTEM MESSAGE, Prod: DI, MsgNum: 0034: ( GOOD EVENING. DJ-NRS CLOSED
)
Call cleared
Diagnostic is: 0x0 0x0
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
Call cleared
Diagnostic is: 0x0 0x0
child process 25711 went away, closing pipe
child process 25710 went away, closing pipe
Call cleared
Diagnostic is: 0x0 0x0
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
child process 25709 went away, closing pipe
Call cleared
Diagnostic is: 0x0 0x0
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
child process 25708 went away, closing pipe
Call cleared
Diagnostic is: 0x0 0x0
child process 25707 went away, closing pipe
Call cleared
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
Diagnostic is: 0x0 0x0
child process 25706 went away, closing pipe
Call cleared
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
Diagnostic is: 0x0 0x0
child process 25705 went away, closing pipe
Call cleared
dvnews: Child process has exited
Reason for process termination: process has exited, exit status is 0
Diagnostic is: 0x0 0x0
child process 25704 went away, closing pipe
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140001, Page: B8
SOURCE: WSJour
DATE: 199404120404
SUBJ: Technology & Health: Child Cancers Found to Rise Near
Chernobyl --- Study Shows Radioactivity May Have Worse Effects Than Many
Expected ---- By Richard L. Hudson Staff Reporter of The Wall Street
Journal
SECTION: B8 , ACCESSION: 199210140001
LONDON -- Western health researchers found a substantial increase in the
number of rare childhood cancers near the Chernobyl nuclear reactor in
Ukraine, from which a catastrophic release of radioactivity occurred in
1986, suggesting that the accident's health effects may be worse than many
experts expected.
In the first systematic Western study to be published on the subject,
pathologists and epidemiologists organized by the World Health
Organization confirmed 102 cases of thyroid cancer among young children in
Belarus, a former Soviet republic just to the north of the accident site.
Such cancers are normally rare in children; the number of cases in the
Belarus region closest to the plant is about 80 times the normal rate.
The report, to be published in today's issue of Nature, a leading British
scientific journal, is grimmer than many Western radiation-health
specialists had expected. Reports of a surge in cancers and birth defects
in Belarus and Ukraine, now also independent, have circulated widely since
the Chernobyl disaster but had been dismissed by many Western specialists
as exaggerated and inadequately documented.
The dispute also took on political and financial overtones as Belarussian
and Ukrainian politicians demanded reparations from Moscow and pleaded for
aid from the West.
The WHO report doesn't resolve the dispute, as it deals with just one
kind of cancer in one segment of the populace. But the results were an
unpleasant surprise to the researchers.
Based on the sketchy data available about the amount of Chernobyl fallout
and its likely consequences, "the general expectation was that it {the
health effect} wouldn't be as obvious as this," says Keith Baverstock, a
radiation scientist at the WHO's Rome-based European Center for
Environment and Health. He said the cancers have begun appearing sooner
and progressing faster than expected.
Aside from humanitarian concerns, the West's interest in the victims of
Chernobyl stems from the gruesome fact that the accident gives scientists
the best opportunity since Hiroshima and Nagasaki to study the health
effects of radiation exposure. Despite decades of research, scientists
remain divided over how much radiation it takes to increase the risk of
developing cancer or having a child with birth defects. Any major
development in the debate could profoundly affect the work habits of
thousands of medical radiologists and nuclear-industry workers.
At least in this area of childhood thyroid cancers, the WHO report
speculates, "the carcinogenic effect of radioactive fallout is much
greater than previously thought."
The most significant results described in the Nature report came from the
Gomel district of Belarus closest to the reactor. According to a
Belarussian research report accompanying the WHO study, 65 thyroid cancers
have appeared among the district's young children since 1990. Normally,
only one child in a million under age 15 develops this form of cancer in a
year. The district is thought to have been the first to catch fallout from
the accident. Thyroid cancer isn't usually fatal if detected early, but
the rapid progression of the disease in Belarus has already killed a
seven-year-old and left 10 other children seriously ill.
The WHO report is the first of what are likely to be many published
Western studies of Chernobyl's health consequences. For the past two
years, small teams of researchers from the WHO, the International Atomic
Energy Agency, the U.S. National Institutes of Health and the German and
Swiss governments have been visiting the region, organizing
epidemiological studies that may take 25 years to produce conclusive
results.
Initial Soviet reports greatly understated the accident's consequences,
listing only 31 deaths and 203 radiation-related injuries, all among plant
and rescue workers. The April 26, 1986, accident occurred when the plant's
operators turned off safety systems in their rush to complete an overdue
electrical test. The reactor raced out of control, blowing off its roof
and spewing much of its radioactive contents into the atmosphere.
(See related letter: "Letters to the Editor: Thyroid Cancer Rate In
Chernobyl Children" -- WSJ Oct. 14, 1992)
920903-0031
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells ADDVANTAGE MEDIA GROUP INC Stock
ISSUER: ADDVANTAGE MEDIA GROUP INC.
SYMBOL: ADDM
FILER: JERD RUSSELL F
TITLE: Officer and director.
SOLD: 9/22-25/92 4,000 1.63-1.75
OWNERSHIP: 0 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140003, Page:
SOURCE: WSJour
DATE: 199404120404
SUBJ: International Paper Shows 6.7% Decline In Quarterly Profit
SECTION: , ACCESSION: 199210140003
PURCHASE, N.Y. -- International Paper Co. said it posted a decline in
third-quarter earnings of 6.7%, a result of continuing recessionary
pressures.
The paper and forest products company said net income fell to $98
million, or 81 cents a share, from $105 million, or 95 cents a share, a
year ago. The latest quarter's earnings include a charge of $2 million, or
one cent a share, for a loss on the extinguishment of debt. There were
about 12 million, or 10%, more shares in the latest quarter, mostly as a
result of an equity offering earlier this year.
Sales rose 6.1% to $3.5 billion.
"Earnings continued to be under pressure, with the decline from
second-quarter performance largely attributable to price deterioration in
uncoated printing and writing papers in domestic and European markets,"
said John A. Georges, chairman and chief executive officer. The company
earned $112 million, or 92 cents a share, in the second quarter.
International Paper said its timber and wood products business remained
strong, and containerboard operations, mostly industrial packaging, showed
gains from the second quarter.
Separately, IP Timberlands Ltd., a publicly traded limited partnership
that comprises substantially all of International Paper's forest resources
business, said third-quarter earnings rose 18%, to $53 million, or 89
cents a Class A depositary unit, from $45 million, or 83 cents a Class A
unit. Revenue rose 10% to $76 million.
IP Timberlands said operating results in the South continued to benefit
from favorable timber prices, offsetting a slight decrease in harvest
volumes. In the West, results included land sales as the partnership
continued to take advantage of higher land prices.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: *Japan Corporate Insolvencies Rise 35% In September On Yr To 1,145
Cases
- - 0015EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: *Insolvent Japanese Companies Leave Behind 706.7 Bln Yen In Debt In
September, Up 25% From Year Before
- - 0015EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys ARGENTINA FUND INC., THE Stock
ISSUER: ARGENTINA FUND INC., THE
SYMBOL: AF
FILER: VILLANI EDMOND D
TITLE: Affiliate of an investment advisor.
PURCHASED: 9/30/92 1,500 10.00
OWNERSHIP: 3,500 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Financial Wire ('World Equity Report')
DJ International News Financial Wire ('World Equity Report')
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Quotron Deletions And Additions
NEW YORK -(AP-DJ)--The following are the latest deletions and additions
to the New York Stock Exchange, American Stock Exchange, and NASDAQ lists
and the stocks', bonds' and mutual funds' Quotron symbols:
EFFECTIVE OCT. 14
ADDITIONS-QUOTRON
KLYB AMB KELLY OIL & GAS PTNRS CV SUB NOTES DUE 1999
MTU NY MANAGED MUNI PORT I I INC
SP NY SPELLING ENTERTAINMENT GROUP INC
TST AM MEDIA LOGIC INC
VALL NYB VALHI INC LYON SR 0/ DUE 2007
DELETIONS-QUOTRON
BLYW NY BALLY MANUFACTURING CORP W I
VAM NYB VALHI INC LYON SR 0/ DUE 2007
CHANGES-QUOTRON
CHANGING SYMBOLS ON VALHI BOND FROM -VAM- TO -VALL-
CHANGES EMERGING COS MARKETPLACE TSTEC WILL NOW TRADE ON THE AMERICAN STOCK
EXCHANGE DROPPING THE -EC- FROM ITS SYMBOL. THE SYMBOL WILL BE -TST.-
ADDITIONS-NASDAQ-NONE
DELETIONS-NASDAQ-NONE
- - 0400GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: SIMEX Currencies Mixed; Nikkei Lower; Dec Yen At 8245
SINGAPORE -(AP-DJ)--Currency futures are mixed on the Singapore
International Monetary Exchange (SIMEX).
Three-month Eurodollar deposit-rate futures are lower, as is the Nikkei
index contract.
December delivery yen was heard offered at 0.8245 U.S. cent, off from
0.8260 cent at the close of IMM Tuesday but above the previous SIMEX close
of 0.8220 cent.
December delivery marks were heard offered at $0.6764, up from $0.6740 at
the IMM close and from the previous SIMEX close of $0.6691. December
sterling was offered at $1.6990, off from $1.7066 Tuesday at the IMM, but
up from its previous closing of $1.6950 at SIMEX.
December Eurodollar futures, last offered at 96.66, is slightly off from
96.68 at their Tuesday SIMEX close. December Euroyen futures were offered
at 96.39, higher than from the previous finish 96.36.
December Nikkei futures were offered at 17,610 points, down from its
previous closing of 17,675 points and off its opening level of 17,850
points.
-0- 0010EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120708
SUBJ: USDA approves process that dramatically reduces salmonella in
chicken
EDITOR'S NOTE: Photo is available immediately in BW PhotoBank
to any newspapers or media outlet with telephoto receiver or
electronic darkroom that can accept overhead transmissions.
Photos can also be retrieved via the Macintosh. To electronically
retrieve photos or get details for the Macintosh, call 214/416-3686.
There is no charge to the media for this service.
(ADVANCE) CRANBURY, N.J.--(BUSINESS WIRE)--A new process that
dramatically reduces the incidence of salmonella and other bacteria during
broiler processing has been approved by the United States Department of
Agriculture (USDA).
The process, developed and patented by Rhone-Poulenc Inc.(a) (subsidiary
of Rhone-Poulenc S.A., NYSE:RP Pr A), uses AvGard trisodium phosphate
(TSP), a common food grade orthophosphate. TSP is generally recognized as
safe (GRAS) by the Food and Drug Administration and is widely used in
processed cheese and breakfast cereals.
``With the help of the USDA, we've taken an important step toward
improved food safety,'' said Richard V. Kennedy, vice president and
general manager of Rhone-Poulenc Food Ingredients. ``While Americans
enjoy the best poultry in the world, AvGard TSP will help make it even
better.''
Americans consume five to six billion broilers each year. AvGard TSP
treated chickens are expected to begin reaching supermarkets within three
to six months and be widely available within two years. Processing cost is
estimated to be less than one cent per bird.
Independent taste tests show the treatment has no effect on flavor,
texture or appearance of treated poultry.
Rhone-Poulenc will license the patented technology to interested broiler
processors. Plant-scale equipment has also been developed by the
Rhone-Poulenc team to properly control the process for maximum
effectiveness. Using this specialized equipment, broilers are exposed to
a solution of trisodium phosphate, in line, near the end of the processing
operation.
Rhone-Poulenc expects to work promptly with the USDA to evaluate the use
of AvGard TSP on other poultry (turkey, cornish hen, duck), beef and pork.
Another potential use is seafood.
Most salmonella infections are believed to be caused by improper handling
or preparation after the products leave the processing plant. Serving
cooked poultry on a platter than contains juices from the raw meat, for
example, can recontaminate the bird and trigger rapid bacterial growth.
By dramatically reducing the presence of salmonella on processed poultry,
AvGard TSP can help reduce the risk of illness due to subsequent
mishandling.
According to the Centers for Disease Control in Atlanta, about 40,000
salmonella infections (from all food sources) are reported in the United
States every year.
``AvGard is the type of innovation envisioned when we expanded our
commitment to the North American market in the late '80s,'' said Peter J.
Neff, president and CEO of Rhone-Poulenc Inc. ``Our ongoing partnership
with the poultry industry is what will make this new technology a
success.''
Rhone-Poulenc expanded its North American sales from less than $400
million in 1986 to more than $2.3 billion last year.
Rhone-Poulenc Inc. is the U.S. subsidiary of Rhone-Poulenc S.A., the
seventh largest chemical and pharmaceutical company in the world with 1991
sales of $14.8 billion.
(a) Broadcast editor's note: Rhone-Poulenc (pronounced ``Rone
Poolank'')
Editor's Note: Photo available in BW PhotoBank for one week or by
request from media contacts at Rhone-Poulenc.
CONTACT: Rhone-Poulenc Inc., Princeton
Debbie Remillard, 609/860-4677 or,
Jim Haskins, 609/860-3231
by
Gibbs & Soell Inc., New York
Chuck Bins or Ned Burke, 212/697-2600
18:30 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: Australian Housing Minister Sees Continuing Recovery
CANBERRA -(AP-DJ)--Brian Howe, Australia's Minister for
Health and Housing, said Wednesday that the recovery in the
housing industry is expected to continue, adding that
forecasts might have to be revised upward.
"It appears that the 152,000 commencements forecast by
the Indicative Planning Council in 1992/93 will be easily
realized," Howe said in a statement.
Earlier of Statistics reported that the
number of housing-finance approvals rose a seasonally
adjusted 8.3% in August from July and jumped 23.3% from
August 1991.
"Housing starts have risen for five consecutive quarters
and are at their highest level since September 1989," Howe
said.
"Home purchase is now the most affordable it has been
for the past seven years. Homebuyers can be confident that
affordability will remain a top priority under this
government," the minister added.
On the basis ofdata on both building approvals and
housing finance, "it can be confidently stated that dwelling
commencements will show another rise in private-sector
housing starts" in the quarter ended Sept. 30, Howe said.
-0- 0018EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120711
SUBJ: GALAXY CABLEVISION ENTERS INTO A LETTER OF INTENT WITH CHARTERHOUSE
SIKESTON, Mo., Oct. 13 /PRNewswire/ -- Galaxy Cablevision, L.P. (AMEX:
GTV) announced that it has entered into a letter of intent with
Charterhouse Equity Partners, L.P., CableMaxx, Inc., Supreme Cable Co.,
Inc., and certain affiliates of Supreme relating to the proposed purchase
from the seller, by and entity to be formed by Charterhouse and Galaxy, of
certain wireless cable television assets serving the Austin and San
Antonio, Texas markets. The letter of intent also outlines purchase
options for the wireless cable system assets serving the Sherman-Denison
market and the Temple/Killeen, Waco and Lubbock, Texas markets. The
letter of intent is generally non-binding and the acquisition by
Charterhouse and Galaxy is subject to a number of conditions, including
the execution of a definitive purchase agreement.
The seller and Galaxy had previously entered into a purchase and sale
agreement dated Jan. 15, 1992, as amended, providing for the acquisition
by Galaxy or its assignee of the properties and the option properties.
Pursuant to extensions obtained by Galaxy the closing under the
acquisition agreement was to occur on or before Oct. 1, 1992. The letter
of intent provides for the extension of the proposed closing date under
the acquisition agreement to Nov. 30, 1992.
Galaxy Cablevision, L.P. engages in the business of acquiring, owning and
operating cable television systems and currently serves approximately
54,000 basic subscribers in the six states.
Galaxy's Units are traded publicly on the American Stock Exchange under
the symbol "GTV."
/CONTACT: Tommy L. Gleason, Jr. or J. Keith Davidson of Galaxy
Cablevision. 314-471-5022/
18:52 EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: Correct:Japan Insolvencies: Sept. Percentage 0.8%, Not 86%
September's 1,145 insolvencies were 3.8% below August's
total of 1,154. But debts left behind in September surged
0.8% from August's 380.1-billion-yen total.
(The item that ran at 00:17 EDT incorrectly stated the
percentage as 86%.)
- - 0029EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells ARKANSAS FREIGHTWAYS CORP. Stock
ISSUER: ARKANSAS FREIGHTWAYS CORP.
SYMBOL: AFWY
FILER: DOTY THOMAS D
TITLE: Officer.
SOLD: 9/8/92 493 19.75
OWNERSHIP: 800 Direct Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys AMERIHEALTH INC. Stock
ISSUER: AMERIHEALTH INC.
SYMBOL: AHH
FILER: SAGE RICHARD D
TITLE: Director.
PURCHASED: 9/8-14/92 5,000 0.94
OWNERSHIP: 630,184 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120601
SUBJ: Heard On Street: Stock Prices South Of Border May Head North
To retrieve above story, request menu of headlines for company symbol
TFONY
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140005, Page: B1
SOURCE: WSJour
DATE: 199404120404
SUBJ: Autos: Jaguar Pulls In Its Car-Pricing Claws ---- By Krystal
Miller Staff Reporter of The Wall Street Journal
SECTION: B1 , ACCESSION: 199210140005
DETROIT -- Struggling Jaguar Cars Inc. is promising to take a smaller
bite out of your wallet.
When Jaguar unveils its 1993 models here today, it will spotlight a car
whose price has been slashed by a whopping $10,750, or 18%.
The unusual pricing action illustrates Jaguar's attempt to pump up sales
by going a bit "down market" within the ultracompetitive luxury-car
segment. The British auto maker, owned by Ford Motor Co., is dogged by a
poor-quality image and tough competition from Germany, Japan and a
resurgent Detroit. Jaguar has seen its U.S. sales plunge 64.1% since 1986,
their peak year.
Even at a time when luxury-car makers are restraining price increases,
offering rebates and offering sweet lease deals, Jaguar's price cut is
especially aggressive. The base price of the 1993 XJS is now $49,750,
compared with $60,500 a year ago.
Along with the lower price comes something that consumers might find
rather less attractive: a smaller engine. Jaguar is equipping the new XJS
coupe with six-cylinder, four-liter engines rated at 219 horsepower.
Previously, the cars were powered by a monstrous 5.3-liter V-12 engine
with 260 horsepower.
Jaguar said the price of the XJS offered in the U.S. is now in line with
the price of that model in England and other parts of the world. The car's
base price was cheaper outside the U.S., because Jaguar already offered
those markets a six-cylinder version of the car.
Jaguar, acquired by Ford in 1989, desperately needs to bolster its
arsenal against Japanese and European luxurycar makers, which have turned
up the pressure by restraining price increases.
Mercedes-Benz, a unit of Daimler-Benz AG, for example, raised the prices
on some of its 1993 models by less than 1% and held prices on other
models. Meanwhile, The U.S. sales arm of Bayerische Motoren Werke AG is
raising the price of its 1993 model 740i by just 1.9%, even though it has
a new V-8 engine and passenger-side airbag. BMW's steepest price increase
comes on the 325is, which is rising by 6.3% or $1,850.
Meanwhile, Audi of America, Volkswagen AG's U.S. luxury-car unit, has set
the base price of its 1993-model 90 S sedan with automatic transmission at
$26,650, the same as the 1991 model. Audi didn't offer the 90 sedan in the
1992 model year. Japanese Rivals Jaguar, of course, isn't the only
luxury-car maker that has languished recently. The European companies all
have been hammered in the U.S. by the weak dollar, the luxury and
gas-guzzler taxes, the recession and an onslaught of new Japanese
competitors -- notably Toyota Motor Co.'s Lexus and Nissan Motor Co.'s
Infiniti.
Even Honda Motor Co.'s Acura division, the first Japanese luxury-car
brand, is feeling the pinch. While Lexus and Infiniti sales are up,
Acura's sales have fallen 13.4% to 94,676 cars through the first nine
months of this year. Acura hopes for a boost next summer, when it launches
a revamped Integra model.
But as Jaguar has continued to flounder, many of its rivals are bouncing
back by offering deep discounts on their cars. "Jaguar has been faced with
a great deal of price competition," says Christopher Cedergren, an auto
analyst with AutoPacific Group Inc. "Jaguar hasn't been able to compete
with what Mercedes and some other luxury-car makers are offering."
That's especially because Jaguar's problems are more fundamental than
pricing. Jaguar scores high marks for the muscular grace of its styling,
but has fallen short in technological and safety innovations. Also, Jaguar
has been slow to bring new products to market. The company last introduced
a completely new car in the U.S. in 1987, and won't offer another one
until 1995.
"The current sedan has been in the market for several years, and there
hasn't been much change in the styling or technology," says John Casesa,
an auto analyst at Wertheim Schroder & Co. "Jaguar's most direct
competitors offer state-of-the-art technology."
Jaguar also continues to suffer from its image, even though defects have
dropped 80% under Ford's quality-control system. "Ford is doing a good job
in terms of getting the cars right," says Herschel White, a Jaguar
salesman at Hennessy Cadillac-Jaguar in Atlanta. "They've got a way to go,
but every year the cars improve."
Despite quality improvements, Jaguar's sales haven't picked up. So far
this year, Jaguar has sold just 7,143 cars in the U.S., down 10.7% from a
year earlier. So Jaguar is trying a new approach.
For starters, the auto maker expects a boost from the repositioned XJS.
Jaguar has also added more standard equipment to the 1993 model XJ6,
previously called the Sovereign. The car now comes with such standard gear
as a driver's-side airbag and a chlorofluorocarbon-free air conditioning
system.
But the XJ6 sedan will cost $5,250 more than the least expensive car
offered by Jaguar a year ago. That model, which cost $44,500, is no longer
available.
Jaguar is aiming to sell its vehicles with the help of some unusual
advertisements, developed by its new ad agency, WPP Group PLC's Ogilvy &
Mather in New York. The goal: to highlight the Jaguar heritage, something
that newer luxury brands, for all their advantages, don't have.
In the two-page ad a fictitious woman talks about her experiences and
feelings while test driving a 1993 model XJ6. The woman talks about her
"well-thought-out design to own a Jaguar by the time I reached the age of
40" and her "obsessive love of the Jaguar."
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140006, Page:
SOURCE: WSJour
DATE: 199404120404
SUBJ: Perot Support Is Rising on His Showing In Debate, Data From Polls
Indicate ---- By James M. Perry Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210140006
Ross Perot could yet be a force to be reckoned with in the presidential
campaign.
Private data from polls around the country show that the modest surge in
support that Mr. Perot picked up immediately after Sunday night's
presidential debate has since quickened, according to The Wall Street
Journal's pollsters.
Public polls taken immediately after the debate showed Mr. Perot with a
support level of about 12% to 15% in the race with President Bush and Gov.
Bill Clinton, and the pollsters say a second strong performance tomorrow
could push him up to 20%, despite the disappointing performance of running
mate James Stockdale in last night's vice presidential debate.
Mr. Perot's increasing support level is "changing the dynamics of the
race," says Democrat Peter Hart, who conducts surveys for the Journal and
NBC News with Republican Vince Breglio. "We really could go back to
talking about a three-person race."
Mr. Breglio agrees. "It's a wild card in a wild election," he says, and
President Bush and Gov. Clinton should both be worried.
By the weekend, Mr. Hart believes, Mr. Clinton's lead over Mr. Bush,
currently 10 to 15 points, might narrow to fewer than 10 points.
Mr. Breglio says Mr. Perot needs another good performance in tomorrow
night's debate to reach 20%. "My guess," Mr. Breglio says, "is that Mr.
Perot will bounce around as people get to know him better." Sooner or
later, Mr. Breglio believes, most people will become skeptical of Mr.
Perot's ability to deliver specific remedies for all the problems he
spells out so effectively.
Faced with such polling data, Mr. Perot's opponents may decide to take a
harder line with the Texan independent candidate at the next debate.
Possible targets are Mr. Perot's tough budget-balancing cut, reports of
his use of private investigators and the manner in which he made his
fortune from business dealings with the federal government.
George Stephanopoulos, Mr. Clinton's communications director, says:
"Perot obviously will get a lot of support from disaffected voters. But
the more they know about his plan and its 50-cent-a-gallon gasoline-tax
increase and its Social Security cuts, the less likely they will be to
vote for him." He says Democratic polls show that 56% of those sampled
found Perot interesting, but didn't intend to vote for him. Another 20%
said they wouldn't vote for him, interesting or not. That suggests, the
Democrats say, that his ceiling is around 25%.
Right now, Messrs. Hart and Breglio say, Mr. Perot is pulling a little
more than half of his new support from Mr. Clinton.
Republicans argue, privately, that a big surge for Mr. Perot -- something
well over 20% -- would ultimately benefit their candidate. The higher Mr.
Perot goes in the polls, the bigger chunk he takes out of Mr. Clinton's
support, they estimate.
Mr. Breglio says that as a Republican he would like to believe that, too,
but he doesn't. "The truth is," he says, "that it's the Democrats who are
more energized by this campaign than the Republicans. They smell the White
House." He believes Republicans in the long run would be more likely to
become disaffected and peel away to Mr. Perot.
In earlier three-way races, the independent candidate began to fade
before the final days of the campaign. In 1968, George Wallace (running
against Richard Nixon and Hubert Humphrey) peaked at 21% in late September
in the Gallup poll and then began falling away. By mid-October, he was
down to 15%, and ended with 13.5% of the vote. In 1980, John Anderson
(running against Ronald Reagan and Jimmy Carter) peaked at 24% in the
Gallup poll in early summer and then began a steady decline. In
mid-October, he was down to 9%; he won 6.6% of the vote.
"In essence," says Mr. Hart, "what's happening is that the No. 1 person
Mr. Clinton is still running No. 1, but the No. 3 person Mr. Perot is
gaining on No. 2 Mr. Bush."
Mr. Hart says post-debate polling shows serious problems for Mr. Bush.
"For the first time," he says, "more Americans are saying there is no
chance they will vote for Mr. Bush than there are voters saying there is
no chance they will vote for Mr. Perot." Mr. Hart says the president had
his best chance Sunday to invite a re-evaluation of his candidacy by the
voters. "Instead, they re-evaluated what they thought about Ross Perot."
Pollsters Hart and Breglio caution that this is a tough year to make
predictions. "There are few moorings and fewer attachments, and a lot of
votes are still in play," says Mr. Hart. And that's why Mr. Clinton should
be careful. "As a front-runner," Mr. Hart adds, "you want everything in
concrete, and this is Silly Putty."
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120715
SUBJ: TD BANK REACHES AGREEMENT WITH CGT
HALIFAX, Oct. 13 /CNW/ - Toronto Dominion Bank announced today that it
has reached an agreement in principle with Central Guaranty Trust Company
and Central Guaranty Mortgage Corporation to acquire substantially all of
their assets and all of their deposit liabilities. Canada Deposit
Insurance Corporation (CDIC) has agreed to provide financial assistance to
facilitate this transaction.
``The acquisition enables TD to bring its staff together with those of
CGT's, to serve a whole new group of valued customers,'' said Jeff
Somerville, Senior Vice President, Atlantic Division. ``As part of the
transaction, TD will acquire all 154 branches including a major presence,
in the Atlantic region. The prospect of bringing TD's full range of
banking services to CGT's customers is an exciting opportunity for the
Bank. We are particularly pleased about the acquisition of CGT's trust
business which has a strong market position across the country and will
establish TD as a major presence in the industry.''
Under the terms of the agreement, TD will pay a purchase price premium of
$125 million to acquire approximately $9 billion of performing loans and
securities, the majority of which are residential mortgages, and the trust
company's mutual fund, agent and VISA businesses. The Bank will assume all
of CGT's deposit liabilities. The Bank will offer employment to CGT
branch, trust, mutual fund and VISA personnel.
CDIC would provide coverage against losses which may be sustained on the
portfolio of performing assets acquired by the Bank. The Bank believes
that the coverage to be obtained form CDIC will be sufficient.
The transaction has now received TD and CGT board approval. The
transaction requires CGT shareholder and formal regulatory approval, and
execution of definitive documentation. The transaction is expected to
close by December 31, 1992.
FACT SHEET FOLLOWS.
TORONTO DOMINION BANK
ACQUISITION OF ASSETS OF CENTRAL GUARANTY TRUST
-----------------------------------------------
TRANSACTION FACT SUMMARY
------------------------
I. ASSETS/DEPOSITS ACQUIRED
a) Approximately $9.0 billion (B) in assets, including $1B
of cash and securities and $8B of performing loans.
These loans consist of $5B of residential mortgages,
$2B of commercial loans & mortgages and $1B of consumer
loans. As a result, TD's market share of residential
mortgages for the six major banks is expected to
increase from 15.2 per cent to 18.6 per cent.
b) CGT's branch network, a total of 154 branches including
38 in Atlantic Canada
c) CGT's mutual fund business, with its approximately $600
million in assets under management
d) CGT's Visa business
e) CGT's personal and pension trust businesses (with
approximately $5B in assets under administration)
f) Total deposits assumed of approximately $11B. TD
estimates that this will increase our 6-bank market
share of personal deposits from 12.9 per cent to 16.3
per cent.
II. PURCHASE PRICE
TD has agreed to pay a premium of approximately $125
million to acquire the above assets.
III. CDIC COVERAGE
a) CDIC has provided a level of coverage against losses
which TD believes is satisfactory, as outlined below:
1) $990 million of coverage against the:
a) Residential mortgage portfolio
b) Personal loan portfolio
c) $500 million of commercial loans
TD will risk share on losses at 5 per cent.
2) $1.5B of coverage against the remaining $1.5B of
commercial loans TD is acquiring.
TD will risk share on losses related to the $1.5B
at:
a) 5 per cent on first $500 million
b) 7.5 per cent on second $500 million
c) 10 per cent on remaining $500 million.
As well, TD will have the ability to exchange
commercial assets between the two pools for two years.
b) There will be a mechanism to ensure that TD earns a
spread of 2 per cent per annum on assets and
liabilities acquired.
IV. IMPACT ON TD'S CAPITAL RATIOS
The attached exhibit estimates a pro-forma TD/CGT balance
sheet as at July 31, 1992. Because of TD's strong capital
base, we will not issue any common equity to support this
transaction. We estimate that TD's Tier I capital ratio
will be 7.2 per cent after consolidation (vs 7.6 per cent
at July 31, 1992) and the total capital ratio will be 9.3
per cent (vs 9.9 per cent).
V. GAME PLAN
a) Retain the existing business in the CGT branches,
recapture business lost and capitalize on synergies to
grow business.
b) Capitalize on our expanded presence in Atlantic Canada;
TD will now be the third largest financial institution
in the region and will have the critical mass to grow
business profitably. (TD's 6-bank market share in
residential mortgages and personal deposits is expected
to rise to over 18 per cent.)
c) Introduce a full range of TD retail products into the
CGT branch network.
d) Integrate CGT's computer systems and products into TD's
within a short period.
e) Integrate CGT's mutual funds and Visa businesses.
f) Use the large pension and personal trust customer base
as a starting point for TD Trust operations.
VI. IMPACT ON TD'S FINANCIAL RESULTS
a) Our business case indicates a minimal impact on
earnings per share in the short term.
b) This transaction will increase our leverage of common
equity from 16:1 to 18:1.
TORONTO DOMINION BANK
IMPACT OF ACQUISITION OF MAJOR ASSETS AND DEPOSITS OF
CENTRAL GUARANTY TRUST COMPANY
(millions of dollars)
TD Bank TD Bank Per Cent
Actual Pro forma Increase
ASSETS July 31 July 31 (1) (Decrease)
----------------------------------------------------------------
Residential mortgages 17,540 22,440 28
Other loans 33,665 36,465 8
Total assets 72,346 80,646 11
LIABILITIES
----------------------------------------------------------------
Personal deposits 30,764 40,364 31
Other deposits (2) 26,148 24,448 (7)
CAPITAL RATIOS (3)
----------------------------------------------------------------
Tier 1 capital 4,795 4,795 -
Tier 2 capital 1,453 1,453 -
----------------------------------------------------------------
Total capital 6,248 6,248 -
----------------------------------------------------------------
----------------------------------------------------------------
Risk -- weighted assets
(including Off-balance sheet
commitments) 63,164 66,921 6
----------------------------------------------------------------
Tier 1 capital ratio 7.6 pct 7.2 pct
Total capital ratio 9.9 pct 9.3 pct
Common equity to total
assets 6.2 pct 5.6 pct
----------------------------------------------------------------
----------------------------------------------------------------
(1) - includes estimate of assets and liabilities to be acquired
from CGT.
(2) - amount of CGT deposits assumed in excess of assets
acquired received in cash and used to reduce other
deposits.
(3) - ignores impact of restructuring/acquisition costs.
/For further information: Beverley MacLean, Manager, Communications,
Public Affairs (416) 982-8087/
19:03 ET
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: *Japan Corporate Insolvencies Rise 35% In September On Yr To 1,145
Cases
- - 0416GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: *Insolvent Japanese Companies Leave Behind 706.7 Bln Yen In Debt In
September, Up 25% From Year Before
- - 0416GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: Japan Insolvencies -3: Fiscal 1st Half Failures Up 33%
Teikoku Data Bank said Japan's domestic economic
slowdown continues to show no signs yet of hitting bottom.
For the fiscal first half from April 1 through September
30, Teikoku Data Bank said insolvencies came to 6,952 cases,
up 33% from the year before. Debts left behind by insolvent
companies during the half came to 3.584 trillion yen, down
6.1% from the year before.
Teikoku Data's statistics cover insolvencies of
companies with debt exceeding 10 million yen. For September,
the number of insolvencies with debts exceeding 10 billion
yen came to 10, up from 9 cases the year before.
September's debt total was boosted by the
200-billion-yen failure of an Osaka-based real estate
business group, Yoshimoto Kosan. The group, which was hurt
by the decline in stock and land prices, was the latest
victim of the bursting of Japan's "bubble" economy. The term
bubble economy refers to the period of sharp asset price
inflation that occurred during the easy money period of the
late 1980s.
But while real estate-related failures stood at 100 in
September, up 12% from the year before and the third
consecutive month above the 100 mark, weak economic
conditions are taking an increasing toll on non-bubble
companies, Teikoku Data said.
Manufacturing company failures surged 85% to 198 in
September from 107 the year before.
- - 0048EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells ALLIED HEALTHCARE PRODUCTS Stock
ISSUER: ALLIED HEALTHCARE PRODUCTS INC.
SYMBOL: AHPI
FILER: RICKS ROBERT L
TITLE: Officer and director.
SOLD: 9/8/92 20,000 7.88
OWNERSHIP: 201,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells AMGEN INC. Stock
ISSUER: AMGEN INC.
SYMBOL: AMGN
FILER: LAZARUS STEVEN
TITLE: Director.
SOLD: 9/18/92 1,000 68.00
OWNERSHIP: 4,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Japan Insolvencies-2:'Recession' Failures 50.4% Of Total
TOKYO -(AP-DJ)--Japanese corporate insolvencies in September jumped 35%
from the year before to 1,145 cases, marking the 24th consecutive month of
year-on-year increase, private credit research agency Teikoku Data Bank
Ltd. announced Wednesday.
Insolvent companies left behind debts of 706.7 billion yen in September,
up 25% from the year before and the third highest total over the first
nine months of 1992.
Teikoku Data Bank said September's insolvencies and bad debt figures were
swelled by a few major real estate-related failures as well as a growing
number of insolvencies tied to weak demand conditions. The number of
'recession' insolvencies - tied to factors such as weak sales and exports
- in September climbed to 577, or 50.4% of the total, a high for the year.
September was the eighth month in a row that the number of insolvencies
exceeded 1,000.
September's 1,145 insolvencies were 3.8% below August's total of 1,154.
But debts left behind in September surged 86% from August's
380.1-billion-yen total.
- - 0416GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: ALL SUBSCRIBERS: In the item, 'Japan Insolvencies -2:'Recession'
Failures 50.4% Of Total' that ran around
0416 GMT, the first sentence of the last paragraph should read 'September's
1,145 insolvencies were 0.8% below August's total of 1,154.' (correcting
the percentage change.)
-0- 0425GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120601
SUBJ: Many Ex-Executives Turn To Franchising, Find Frustration
By Michael Selz
As thousands of executives join the ranks of the unemployed, many are
turning to franchise businesses for second careers. There they are often
making a harsh discovery: Their corporate experience poorly prepared them
to be entrepreneurs, The Wall Street Journal reported.
Paul Slaton seemed like a fair bet to succeed at running a small
business, having been a group controller at Crown Zellerbach Corp., the
large San Francisco paper company. After leaving that job, Slaton invested
more than $200,000 to open an AlphaGraphics Inc. quick-printing franchise
in 1986. The outlet's sales growth so impressed his former colleagues that
11 other Crown Zellerbach executives also bought AlphaGraphics
franchises.
What the executives didn't know was that Slaton soon was struggling to
survive. Forced to slash prices to build sales, his store began running up
big losses. The stress of the business was straining his marriage and
pushing Slaton to the breaking point. On Sept. 7, 1988 -- the same day
that his wife filed for divorce -- Slaton left his store early, went home
and fired a .38-caliber pistol into his head.
Although Slaton's tragic response to the pressures of running a franchise
was extreme, the problems he encountered are well known to former
executives who have taken the leap into the franchise world. While many
succeed, a surprising number face the most humiliating experiences of
their lives, even if they've had successful careers in a corporate
bureaucracy.
Of the 12 Crown Zellerbach executives who invested in AlphaGraphics
franchises, only one remains with the chain. Some folded or sold their
stores at a loss. Others are still operating but have severed ties with
AlphaGraphics and dropped its name.
The executives, who left Crown Zellerbach around the time of its 1985
takeover by investor Sir James Goldsmith, partly blame the franchiser
itself for their troubles. But most also concede that they made big
mistakes and failed to foresee major problems, partly because their
corporate outlook impaired their vision.
"This has to be the most humbling experience of my life," says Peter
Smyth, Crown Zellerbach's former director of computer services, who broke
away from AlphaGraphics last year. Five years after opening his franchise,
he says he is still earning less than half his $120,000 corporate salary.
"You think you're so hot coming from a big company, and it turns out you
don't have a clue what the game's about," he says.
Smyth recalls buying a Xerox high-speed commercial copier for $51,000,
only to decide later that it wasn't as good as a less-expensive machine he
could have bought. He ended up selling the copier back to Xerox two years
later for $13,000 -- $9,000 less than he still owed on it.
Luis Ateca, who had earned $80,000 a year as head of Crown Zellerbach's
Latin American sales, says he relied on the franchiser the same way he had
relied on a corporate staff. Before opening his print store in downtown
Miami in 1986, he says he didn't question the franchiser's claim that the
four-block area around his proposed site contained only 11 competitors.
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys AMERICAN PHYSICIANS SERVIC Stock
ISSUER: AMERICAN PHYSICIANS SERVICE GROUP INC.
SYMBOL: AMPH
FILER: GRANETT SAMUEL R
TITLE: Officer.
PURCHASED: 9/14-15/92 3,500 1.50-1.75
OWNERSHIP: 8,500 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells AMTECH CORP. Stock
ISSUER: AMTECH CORP.
SYMBOL: AMTC
FILER: LARUE PHILIPPE M
TITLE: Director.
SOLD: 9/2/92 2,400 21.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Yields Fall At Weekly Australian Treasury Note Tender
SYDNEY -(AP-DJ)--Yields fell at Wednesday's weekly tender of Australian
government treasury notes.
The weighted average yield on 400 million Australian dlrs 13-week notes
fell to 5.501% from 5.534% last week.
The weighted average yield on 300 million AUS dlrs 26-week notes fell to
5.663% from 5.73% at last week's tender.
The government didn't offer any five-week notes at the sale.
-0- 0405GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys AMERICAN WOODMARK CORP. Stock
ISSUER: AMERICAN WOODMARK CORP.
SYMBOL: AMWD
FILER: CARROLL DANIEL T
TITLE: Director.
PURCHASED: 9/22/92 2,000 2.88
OWNERSHIP: 3,100 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140008, Page: B1
SOURCE: WSJour
DATE: 199404120404
SUBJ: Westinghouse Case Stirs Questions Over Baldrige Award ---- By
Gilbert Fuchsberg Staff Reporter of The Wall Street Journal
SECTION: B1 , ACCESSION: 199210140008
New disclosures about the Malcolm Baldrige National Quality Award raise
questions about how winners of the highly coveted award are chosen.
In an action never previously reported, the Commerce Department last year
blocked a recommendation by the contest's expert judges to award a
Baldrige to Westinghouse Idaho Nuclear Co., a unit of Westinghouse
Electric Corp. that processes nuclear material for the federal
government.
The veto appears to mark the first time since the competition began in
1988 that the department, which administers the award, has rejected the
advice of the nine-member judging panel. The panel's deliberations are
secret. But individuals familiar with its proceedings, including William
A. Golomski, a member last year of a separate panel that oversees the
award process, confirm that the Commerce Department overturned the judges'
decision. Two individuals familiar with the case confirm that the judges
recommended the Westinghouse unit.
While allowed under the federal law that created the contest, rejection
of the judges' decision raises the prospect that subjective and political
concerns could outweigh what is supposed to be the basis for the award:
the merits of a company's quality-improvement efforts, as judged by a
panel of independent experts following a rigorous six-month review. This
year's Baldrige winners are scheduled to be announced today.
Exactly why the department blocked the Westinghouse award isn't clear.
Award administrators, citing pledges of confidentiality to award
applicants, decline to discuss the specifics of the case or even to
acknowledge that the incident occurred.
Members of the judging panel -- which wasn't consulted about the veto --
are known to have speculated that the Commerce Department may have feared
that honoring the Westinghouse unit might draw unfavorable attention to
the government's controversial handling of sensitive nuclear materials,
including such matters as safe storage and disposal of nuclear waste.
Curt Reimann, who directs the award at the Commerce Department's National
Institute of Standards and Technology, declines to discuss the specific
allegations, citing the award's code of confidentiality.
Dr. Reimann contends, however, that the judges -- picked by the Commerce
Department from among more than 200 corporate and academic quality experts
who help review applications -- "wouldn't tolerate the government playing
little games with something as important as this." They would refuse to
participate if they believed that "this was a political review rather than
a quality review," he adds.
At the same time, though, Dr. Reimann details a previously unpublicized
phase of the Baldrige evaluation that might allow numerous considerations
-- including political concerns-to overturn a recommendation by the
Baldrige judges.
The phase is so critical that it can derail a winner at the last moment.
But most applicants know nothing about it, and it isn't mentioned anywhere
in more than 50 pages of forms and instructions for companies entering the
competition. According to people familiar with last year's competition,
some decision during this phase caused the Commerce Department to overturn
the award to the Westinghouse unit.
This step, conducted separately from the judges' scrutiny of a
contestant's quality-improvement efforts, includes a wide-ranging
background investigation to determine a company's suitability to serve as
a "role model" if selected, Dr. Reimann says.
The investigation seeks to uncover any major legal or regulatory problems
that the company didn't disclose in its application. The review includes
scrutiny of court and police records and files of the Federal Bureau of
Investigation, Bureau of Export Administration and Government Services
Administration. The Commerce Department also consults with the Internal
Revenue Service to check the tax compliance of the company and its top
executive, Dr. Reimann and other award officials say.
"These are routine checks to determine there are no serious violations of
corporate citizenship," Dr. Reimann says. "Obviously, it would be damaging
for all concerned if the president gives a company an award one day and
the next day there's something revealed that's a breach of the public
trust."
Dr. Reimann defends the practice as "critical to protecting the integrity
of the award." He says that the contest's judges have always operated as
advisers and that the secretary of commerce has the ultimate authority to
determine winners.
But there isn't any evidence available that the inquiry disclosed any
negative information about the Westinghouse unit. According to people
familiar with the situation, Dr. Reimann declined to specify to the judges
why their decision was overturned. This helped fuel suspicion of a
possible political motivation.
At least one Energy Department official consulted in the inquiry, Mike
Bonkoski, says he "didn't know of anything" about the Westinghouse unit
that would preclude the award. Mr. Bonkoski, who helps evaluate the
Westinghouse unit's performance at the government's Idaho National
Engineering Laboratory, says he believes he would have known of any
relevant negative information. Though the unit suffered an explosion and
radiation leak two years ago and a fatal accident last year, it is
considered by several measures to be one of the Energy Department's best
contractors, he adds.
A Westinghouse spokesman expressed surprise about the incident, saying he
doesn't know what could have prompted the veto. "There's probably no
business in Westinghouse that is as closely scrutinized as our government
operations, such as the Idaho facility," says Ronald Hart, director of
public relations for the Pittsburgh-based parent company. "There are
constantly studies by quality teams and auditing teams, and they are
constantly giving us feedback as to whether there is any deviation from
standards of excellence. If the Commerce Department viewed these or any
other reports as a basis for not giving us the award, that would surprise
us."
Mr. Hart adds that Westinghouse received a "very, very positive"
evaluation from the Commerce Department after the competition last fall.
Indeed, Greg Frandsen, who led the Baldrige effort for the company's Idaho
unit, says that "when we read the report, we scratched our heads and said
this sounds a whole lot like a winning report to us."
Now, learning that the unit was judged a winner but didn't get the award
for unspecified reasons, Mr. Hart says: "It would not give us as much
confidence in a process that we had believed was an excellent one for
improving quality."
If the Westinghouse unit had received the award, it would have become
only the second company in the contest's four years to win in the service
sector, one of three categories in the competition. Ultimately there was
no winner in the service sector last year. Up to six companies can win
each year.
(A different Westinghouse unit, Westinghouse Commercial Nuclear Fuel
Division, won a Baldrige in manufacturing during the contest's first year
in 1988.)
While only 90 companies applied for the Baldrige this year, thousands of
companies aspire to win it and use its criteria as a model to improve
their products, service and operations. Moreover, the Baldrige has become
the centerpiece of the "total quality" management movement, as well as a
model for many other quality prizes.
Some observers suggest that companies may back away from the Baldrige
unless they can be certain that political considerations aren't a factor
in award decisions. "The process has got to be completely apolitical,"
says Peter Kolesar, a Columbia University business professor who served as
a Baldrige examiner in 1989 and 1990. "If some undescribed element of
subjectivity comes in at the end, after you've gone through all this
effort, then it would seem futile to apply."
Mat Heyman, an award spokesman, says the Commerce Department is "very
comfortable and confident about the choices made to date" and would fully
explain its decision-making, if asked, to the congressional subcommittee
that oversees the award.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: Analayst Says Australia Isn't Due For Policy Tightening
SYDNEY -(AP-DJ)--Australian interest rates aren't poised
to trend higher, according to St. George Bank Ltd. economist
Peter Clay.
In the bank's latest Market Update publication, Clay
maintains that while rates won't continue to fall, "current
economic conditions don't warrant the beginning of a regime
of progressive monetary policy tightening."
"There are sufficient differences between this
(economic) cycle and previous cycles to render simple `big
picture' comparisons misleading. All of the available
evidence suggests that the ensuing recovery will be very
modest by historical standards," Clay writes.
Furthermore, unemployment is likely to remain high as
the economy begins to recover, while inflation should stay
relatively low, he says.
As a result, Clay envisages interest rates remaining
volatile but staying around the lower levels that the easier
monetary policy of the past two years have produced.
"The high degree of volatility in financial markets will
continue to feature in coming months. The result being that
from time-to-time financial institutions will adjust their
lending and borrowing rates in response to fluctuations in
financial markets," he says.
"These adjustments will represent both risks and
opportunities for clients," he notes. "However, those
looking for the next turning point may be disappointed," he
adds.
Official interest rates in Australia have been lowered
12.25 percentage points since the start of 1990, in 13
steps. The last easing was arranged July 8 and took cash
rates to 5.75%.
-0- 0049EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys AARON RENTS INC. Stock
ISSUER: AARON RENTS INC.
SYMBOL: ARON
FILER: QUINONES EDUARDO
TITLE: Divisional officer.
PURCHASED: 8/4/92 100 15.38
OWNERSHIP: 150 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys AMERICAN TRAVELLERS CORP. Stock
ISSUER: AMERICAN TRAVELLERS CORP.
SYMBOL: ATVC
FILER: MANKOWSKI SUSAN T
TITLE: Officer.
PURCHASED: 10/2/92 1,000 5.50
OWNERSHIP: 13,400 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys AMERICAN TRAVELLERS CORP. Stock
ISSUER: AMERICAN TRAVELLERS CORP.
SYMBOL: ATVC
FILER: PARRY THOMAS J
TITLE: Officer.
PURCHASED: 10/2/92 1,000 5.50
OWNERSHIP: 1,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140009, Page:
SOURCE: WSJour
DATE: 199404120404
SUBJ: Alberta to Reduce Its Royalty Rates On Oil, Gas Output ----
By Suzanne McGee Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210140009
Alberta announced changes in the way it collects royalties on oil and
natural gas production in the province that could boost the energy
industry's cash flow by a total of 368 million Canadian dollars (US$295.9
million) annually.
The goal of the changes is to stimulate exploration and development of
oil and gas reserves in the province, which has been hit hard by slumping
commodity prices and slow demand.
Under the plan, Rick Orman, Alberta's energy minister, said royalty rates
will be cut 10% to 15% on most forms of oil and gas production, while
companies with natural gas production in the province could save as much
as 60% of their royalty administration expenses because of revamped
accounting mechanisms.
"It may take a bit of time for the industry to respond, but there are
several things to like in this package," said Richard Wyman, an oil and
gas analyst at Peters & Co. in Calgary.
Mr. Wyman said the royalty revisions make permanent a royalty holiday
plan for companies choosing to reactivate old or low-productivity oil
wells, a concept introduced as part of a drilling incentive plan launched
last November. About 28,000 Alberta wells could benefit from the program,
the province said.
"There was a need to address that," Mr. Wyman said, because enhanced oil
recovery techniques could allow companies to extract considerable
additional reserves.
Mr. Orman says the changes, due to take effect by Jan. 1, could mean more
jobs and more drilling activity in the industry.
Gerry Protti, president of the Canadian Association of Petroleum
Producers, an industry group, said it is too early to tell how the royalty
cuts and other measures will affect drilling plans.
"Some companies will start drilling more; others will maintain and use
savings to pay down debt," he said.
Unlike previous drilling incentive plans, the current proposal could help
major industry players such as Imperial Oil Ltd., Canada's largest oil and
gas concern. Many of Imperial's original oil plays in western Canada were
first developed in the 1950s, and production slumps as wells age.
"This makes going back to old reservoirs more viable," said Jim Doak, an
analyst with First Marathon Securities in Toronto. "That wasn't possible
at a 40% marginal royalty rate."
It could take a year for the full benefits of the program to be seen,
analysts said, as energy companies aren't likely to start spending now in
anticipation of increased cash flow next year.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090002, Page:
SOURCE: WSJour
DATE: 199404120252
SUBJ: BNP Group Profit Fell 13% in First Half; Provisions Grew 14%
---- Special to The Wall Street Journal
SECTION: , ACCESSION: 199210090002
PARIS -- A surge in provisions for bad risk in the first half undercut
moderately better operating profit for French Banque Nationale de Paris.
With provisions up 14%, BNP's group net income plunged a corresponding 13%
to 1.333 billion francs ($271.5 million) from the same period a year ago,
the bank said.
BNP's operating profit rose to 5.605 billion francs, a gain of 6.8% from
the first half of 1991.
The French state-owned bank said it had managed to hold up well under
difficult market conditions, but sounded a warning for the rest of the
year: "in the second semester, it is feared that this environment and the
current market events won't help much in holding the line in such
unfavorable conditions for banks."
BNP joined a lengthening line of French companies, especially banks, to
set aside extensive provisions against poor risks, particularly for real
estate.
BNP said that it had set aside 4.1 billion francs in new provisions in
the first half of 1992. Of that, 400 million francs were set aside for
reorganization of the Banque Arabe et Internationale et d'Investissement.
On the positive side, BNP said it has been able to take back almost one
billion francs of provisions on country debt risk, thanks to a policy of
lightening its country debt portfolio, by selling off debt on the second
market or by not renewing expired credit lines. Its portfolio covers 70
countries, with risks covered at a rate of 57%, a level maintained since
the end of 1991.
In France, loans rose 4.3% during the first half. Deposits in francs slid
by 1.4%. The average asset value of mutual funds managed by the BNP rose
by 6.1% to 196 billion francs.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: RPT: Analyst Says Australia Isn't Due For Policy Tightening
SYDNEY -(AP-DJ)--Australian interest rates aren't poised
to trend higher, according to St. George Bank Ltd. economist
Peter Clay.
In the bank's latest Market Update publication, Clay
maintains that while rates won't continue to fall, "current
economic conditions don't warrant the beginning of a regime
of progressive monetary policy tightening."
"There are sufficient differences between this
(economic) cycle and previous cycles to render simple `big
picture' comparisons misleading. All of the available
evidence suggests that the ensuing recovery will be very
modest by historical standards," Clay writes.
Furthermore, unemployment is likely to remain high as
the economy begins to recover, while inflation should stay
relatively low, he says.
As a result, Clay envisages interest rates remaining
volatile but staying around the lower levels that the easier
monetary policy of the past two years have produced.
"The high degree of volatility in financial markets will
continue to feature in coming months. The result being that
from time-to-time financial institutions will adjust their
lending and borrowing rates in response to fluctuations in
financial markets," he says.
"These adjustments will represent both risks and
opportunities for clients," he notes. "However, those
looking for the next turning point may be disappointed," he
adds.
Official interest rates in Australia have been lowered
12.25 percentage points since the start of 1990, in 13
steps. The last easing was arranged July 8 and took cash
rates to 5.75%.
-0- 0055EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120717
SUBJ: VALHI PRICES DEBT OFFERING
DALLAS, Oct. 13 /PRNewswire/ -- Valhi Inc. (NYSE: VHI) announced today
that its registration statement, as filed with the Securities and Exchange
Commission in connection with its previously announced public offering of
zero coupon Liquid Yield Option(TM) Notes ("LYONs"(TM)) due 2007
((TM)Trademark of Merrill Lynch & Co. Inc.), has been declared effective
and that the offering has been priced. Closing of the offering is
scheduled for Oct. 20. Valhi will sell $329,600,000 principal amount at
maturity of the LYONs at an aggregate issue price of $84,901,664. Merrill
Lynch & Co., as underwriter for the offering, was granted an option for 30
days to purchase up to an additional $49,440,000 principal amount at
maturity of the LYONs, solely to cover over-allotments, if any. Each
$1,000 in principal amount at maturity of LYONs is exchangeable for 36.077
shares of Baroid Corp. (NYSE: BRC) common stock. The LYONs will be traded
on the New York Stock Exchange. The net proceeds of the offering will be
available for Valhi's general corporate purposes. Valhi expects to use
such proceeds to retire a portion of its 12.5 percent senior subordinated
notes due 1998 through market purchases or otherwise.
Valhi Inc., headquartered in Dallas, is a diversified company engaged in
the refined sugar, forest products, fast food and hardware products
industries and, indirectly through its equity interests in NL Industries
Inc. and Tremont Corp., in the chemicals, titanium metals and bentonite
mining industries. Valhi's common stock is traded on the New York and
Pacific Stock Exchanges under the symbol "VHI." Baroid's common stock is
traded on the New York and Pacific Stock Exchanges under the symbol
"BRC."
/CONTACT: William C. Timm, VP-finance and administration of Valhi,
214-450-4212/
19:06 EDT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120602
SUBJ: Many Ex-Executives -2-: Woes With AlphaGraphics Franchises
While an AlphaGraphics spokesman says the chain "thoroughly evaluates"
prospective markets, Ateca claims he later discovered that its research
included only print shops visible from the street. When he belatedly
counted competitors in the upper floors of office buildings, the number of
existing print shops in his service area came to 22. He ended up closing
his store seven months after opening and had to borrow funds from
relatives to move to a new job in New York.
As their corporate careers play out, executives are increasingly giving
franchise businesses a try. Franchisers surveyed earlier this year by
Francorp Inc., a consulting firm in Olympia Fields, Ill., said that former
executives accounted for one-quarter of new applications and that
inquiries from this group were rising.
"Unfortunately most of them don't have the background for succeeding,"
says John Challenger, executive vice president of Challenger, Gray &
Christmas, a Chicago-based outplacement firm. Accustomed to the perks of
large corporations, many former executives "really aren't willing to take
the hit on their income in the early years, they're not prepared for the
long hours and they're used to a corporate structure full of specialists
they can rely on," Challenger contends. "We do all we can to prevent some
people from taking this step."
But Michael Witte, chairman and chief executive of privately held
AlphaGraphics, takes the other side of the argument, maintaining that
former corporate executives are well suited to become franchisees. "They
typically have well-developed business skills," including the ability to
foster teamwork, delegate effectively, understand budgets and follow a
system, he says.
Founded in 1970, AlphaGraphics began selling franchises in 1980 and had
grown to nearly 200 outlets by the time Slaton opened his. While other
quick-printing chains also were expanding rapidly, AlphaGraphics claimed
to be one of the first to offer such services as electronic printing and
graphics. Quick-printing shops typically include high-speed copiers,
binding equipment and sometimes computers that customers can use.
An AlphaGraphics claim that less than 3% of its stores failed made the
idea even more appealing. "I've never been in the bottom 3% of anything,"
says John McKearney, Crown Zellerbach's former vice president of finance
and a graduate of Harvard's Advanced Management Program. "I thought, `This
is going to be a no-brainer.'"
Though they at first accepted the failure rate claim unquestioningly, the
former Crown Zellerbach executives would later claim in a 1991 lawsuit
that a far greater share of franchisees failed. The suit was filed in U.S.
district court in San Francisco. In interviews, the businessmen say that
as corporate executives they had become used to reviewing proposals and
acting on them, not questioning every detail that substantiated their
conclusion. Before signing their franchise agreements, few even bothered
to hire a lawyer.
But once their franchises opened, a problem emerged: With an
AlphaGraphics store's high-tech equipment alone costing more than
$140,000, they had bought the industry's most-expensive franchise. The
upscale image appealed to them, but they were left with break-even points
as much as twice as high as competitors'.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: Dow Jones Capital Markets Report: Latest Market-Moving News
SIMEX Currencies Mixed; Nikkei Lower; Dec Yen At 8245 (4132)
Insolvent Japanese Companies Leave Behind 706.7 Bln Yen In Debt In
September, Up 25% From Year Before (4146)
Greenspan Is Optimistic On Achieving Stable Prices (4204)
Quayle, Gore Debate Over Leadership, Abortion, Economy (4209)
US Treasurys Largely Flat In Vigil For Greenspan, Data (4041)
-0- 0057EDT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120603
SUBJ: Monsanto Pressed To Rewrite Drug Unit's Prescription
By Scott McMurray
ST. LOUIS -- Monsanto Co. faces mounting pressure to find an antidote --
and someone to blame -- for the earnings collapse at its G.D. Searle drug
division, The Wall Street Journal reported.
Monsanto shocked investors and sent its stock price plunging in mid-June
when it projected an unexpectedly big second-quarter operating loss at
Searle. A month later, the company reported a $39 million loss at the
division. It chiefly reflected high testing and marketing costs for new
drugs, inventory dumping by drug distributors and the approval of a
generic rival for Searle's best-selling Calan, which treats high blood
pressure.
No quick fix is in sight at Searle. The unit may post roughly break-even
operating earnings for the third quarter when Monsanto releases its
results Oct. 22. But Searle is likely to post operating losses this year
and next, excluding one-time gains, analysts say. That prognosis looks
even worse when contrasted with Searle's 83% jump in income last year to a
record $170 million, including about $47 million in one-time gains.
Monsanto is expected to post third-quarter profit of about 45 cents a
share, or $56 million, about half of what it earned in the 1991 period.
Richard J. Mahoney, Monsanto's chairman and chief executive officer, says
he's confident that Searle's ills are temporary, not terminal. Monsanto
bought Searle, including its NutraSweet food-products unit, for $2.8
billion in 1985. It became the cornerstone of Monsanto's diversification
away from the boom-and-bust petrochemical business in the 1980s.
But recent actions taken by Dr. Sheldon Gilgore, Searle's chairman and
chief executive, speak louder than Mahoney's words, securities analysts
say. Gilgore, 60 years old, has disclosed in regulatory filings that on
June 1 he sold 48,700 Monsanto shares, or nearly three-fourths of his
holdings, with an indicated value of $3.2 million. When the sale was
disclosed, Monsanto said it was for personal reasons.
Monsanto shares were trading at slightly more than $65 at the time. Ten
days later, Monsanto told Wall Street analysts their earnings estimates
were too high, mainly because of losses at Searle. Monsanto's share price
has hovered in the mid to low 50s ever since. It was quoted at $52, up $1,
in late New York Stock Exchange trading yesterday.
"We can disagree with Dr. Gilgore's timing for sales of 75% of his
holdings in June as an insider, but the message confirms a poor prognosis
for Searle's earnings in 1992 and 1993," says Fred H. Siemer, a principal
of Chemical Research for Wall St., a research firm.
"This is such an ethical lapse, it's staggering," says Paul Leming, an
analyst with Kidder, Peabody & Co., referring to the timing of Gilgore's
stock sale. In a recent research report, he told customers, "now is not
the time to throw in the towel on Searle -- (maybe on Searle's management,
but not on the company)."
Gilgore has become Wall Street's scapegoat of choice for Searle's losses.
Many analysts have been predicting his imminent removal, or at least
reassignment, since Monsanto in mid-September postponed a regularly
scheduled meeting of analysts and top Searle executives until December. As
Wall Street reasoning goes, the delay gives Monsanto time to shake up
Searle and present a coherent plan.
Calls to Gilgore were referred to Monsanto headquarters. Formerly
president of Pfizer Inc., Gilgore joined Searle as president in 1986 and
was quickly promoted to chairman and chief executive officer. He is widely
credited with leading the turnaround of what was then a moribund drug
company.
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120718
SUBJ: GM CHAIRMAN ADMITTED TO HOSPITAL
DETROIT, Oct. 13 /PRNewswire/ -- General Motors Chairman Robert C.
Stempel was admitted to a Washington, D.C. hospital this afternoon after
feeling ill.
Mr. Stempel, 59, was meeting with a representative of the Conference
Board at the Willard Hotel shortly after noon when he became ill.
Emergency medical personnel took him to George Washington University
Hospital where he was admitted for observation. He is resting comfortably
while undergoing further tests.
/CONTACT: Jim Crellin, 313-556-2027, or Bill Noack, 202-775-5008, both
of GM News Relations/
19:07 EDT
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090004, Page:
SOURCE: WSJour
DATE: 199404120252
SUBJ: Debenture Holders Dismiss Bramalea Plan To Restructure Debt
SECTION: , ACCESSION: 199210090004
TORONTO -- A committee representing Bramalea Ltd.'s debenture holders
said it believes the company's plan to restructure $3.7 billion in debt
will fail, and urged the creditors to vote against it.
The committee previously had agreed in principle to accept Bramalea's
offer to restructure its 525 million Canadian dollars (US$421.4 million)
in senior debentures. But Lorie Waisberg, a lawyer for the committee, said
the group changed its mind after reviewing the company's proposed business
plan, which includes selling assets, extending the maturities of certain
debt, deferring some interest payments and exchanging some debt for
equity.
Bramalea has been in default since it missed an interest payment in June.
Under its business plan, the Toronto real estate company expects to halve
its assets over five years to C$3 billion from C$6 billion currently, and
to cut its long-term debt to C$2 billion from C$4.6 billion.
Bramalea "can't sell enough assets at a good enough price in a timely way
to cover the negatives" surrounding the company, Mr. Waisberg said. He
said the committee is willing to continue negotiating with Bramalea on a
plan that "is not so reliant on asset sales."
Bramalea officials weren't available to comment. The company is expected,
however, to go ahead with a meeting scheduled for later this month at
which the senior debenture holders will be asked to vote on the company's
plan.
Bramalea has offered the senior debenture holders new shares in the
company for 70% of their debt, giving them just over 50% of Bramalea's
equity. The remaining 30% of the debt would be exchanged for a new series
of debentures.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: NIS Rates Haseko Japanese Bond Registration A-Minus
TOKYO -(AP-DJ)--Nippon Investors Service (NIS) is rating
the Japanese bond registration of Haseko Corp. a preliminary
Single-A-Minus, the rating agency announced.
On Sept. 30 Haseko registered with Japan's Finance
Ministry to issue up to 120 billion yen of bonds in Japan
for a two-year period. Last week the Japan Bond Research
Institute also rated Haseko's registration a preliminary
Single-A-Minus.
Next week Haseko is expected to offer a total of 40
billion yen of bonds in the domestic market, underwriters
say. If the Tokyo-based condominium builder does offer bonds
it will be the first issue of the registration.
-0- 0058EDT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Singapore Late-AM -2: SIMEX Dec. Nikkei Futures Weaker
On the Singapore International Monetary Exchange (SIMEX), currency
futures were heard mixed compared to Tuesday levels at the close of
Chicago's International Monetary Market (IMM), and were also mixed from
the previous SIMEX close.
December delivery yen was heard offered at 0.8245 U.S. cent, off from
0.8260 cent at the close of IMM Tuesday but above the previous SIMEX close
of 0.8220 cent.
December delivery marks were heard offered at 0.6764 U.S. dlr, up from
0.6740 at the IMM close and from the previous SIMEX close of 0.6691.
December sterling was offered at 1.6990 dlrs, off from 1.7066 dlrs Tuesday
at the IMM, but up from its previous closing of 1.6950 dlrs at SIMEX.
December Eurodollar futures, last offered at 96.66, is slightly off from
96.68 at their Tuesday SIMEX close. December Euroyen futures were offered
at 96.39, higher than from the previous finish 96.36.
December Nikkei futures were offered at 17,610 points, down from its
previous closing of 17,675 points and off its opening level of 17,850
points.
In local foreign exchange markets, the dollar was quoted at 1.6090
Singapore dlrs, marginally firmer from the previous level Tuesday in the
republic of 1.6086. The U.S. unit was also quoted at 2.5095 ringgit, up
from 2.5063 ringgit at its previous session's level in Kuala Lumpur.
-0- 0406GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: Japan Insolvencies -4: Labor-Related Failures Decline
Teikoku Data Bank said bubble insolvencies in September
came to 116 cases, up 15% from 101 cases the year before.
But the 577 cases of "recession" insolvencies due to
weak demand were up a sharp 88% from 307 cases the year
before. At 50.4% of total insolvencies, the weight of weak
demand in September's numbers was far above the 36.3% figure
for the year before.
The number of insolvencies tied to tight labor
conditions dropped to 31 cases, down 34% from 47 cases the
year before. September's total was down from 35 in August,
37 in July and 40 in June, reflecting an easing of tight
labor market conditions as Japan's economic slowdown has
dragged on.
Teikoku Data said the 7,522-employee total at insolvent
companies in September was 28% up from the year before.
- - 0059EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120719
SUBJ: PARAMOUNT'S `BOB' RECEIVES ORDER FOR ADDITIONAL NINE EPISODES
HOLLYWOOD, Calif., Oct. 13 /PRNewswire/ -- "Bob," the new hit comedy
series starring Bob Newhart from Steinkellners & Sutton Productions in
association with the Network Television Division of Paramount Pictures,
received an order for an additional nine episodes for the 1992-1993 CBS
television season, it was announced today by John S. Pike, president of
the Network Television Division of Paramount Pictures. In doing so, "Bob"
becomes the first new series of the 1992 fall season to receive a full
22-episode order after airing only three shows.
Since its Sept. 18 premiere, "Bob" (Fridays, 9:30-10 p.m. ET) has been
No. 1 in its time period every week, averaging a 12.3 rating and a 23
share (source: NTI). To date, no other regularly scheduled CBS series has
garnered such impressive ratings in the time slot since the Jan. 5, 1990
airing of "Dallas" (13.6 rating/23 share). Also, the Oct. 2, 1992 airing
of "Bob" achieved CBS's highest ratings of the night in both women and men
18-34, 18-49 (for the second consecutive week) and 25-54, beating out such
venerable series as "Designing Women" and "Major Dad."
"Bob" features Bob Newhart as Chicago comic book artist Bob McKay, who
gives up his mundane job drawing greeting cards to re- introduce "Mad
Dog," a comic book superhero he passionately created as a young man. Also
starring in the series are Carlene Watkins as Bob McKay's wife, Kaye;
Cynthia Stevenson as his daughter Trisha; Ruth Kobart as Iris Frankel, a
veteran comic book artist; Timothy Fall as Chad Pfefferle and Andrew
Bilgore as Albie Lutz, a couple of upstart artists and admirers of Bob;
and John Cygan as Harlan Stone, Bob's new boss.
Cheri and Bill Steinkellner and Phoef Sutton are creators and executive
producers of "Bob." Don Seigel and Jerry Perzigian are supervising
producers. Stephen C. Grossman is producer.
"Bob" is filmed before a live audience in Hollywood at Paramount Studios.
Paramount Pictures is part of the entertainment operations of Paramount
Communications Inc.
/CONTACT: John A. Wentworth, VP, Advertising/Publicity/
Promotion, Network Television Division of Paramount Pictures,
213-956-5394; or Michelle Hunt or Trisha Cardoso of Mahoney
Communications, 213-251-4608/
19:20 EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120720
SUBJ: NETMANAGE POSTS ON THE INTERNET ITS "WINDOWS SOCKET API" TCP/IP
STACK FOR GENERAL DEVELOPERS TESTING; BOLD MOVE FOR ACCEPTANCE OF NEW
STANDARD
CUPERTINO, Calif., Oct. 13 /PRNewswire/ -- NetManage Inc. today posted
its developer pre-release of NEWT on the Internet. The TCP/IP
communications stack and development kit are fully compliant with the
Windows Sockets API Standard, previously called Winsock API.
Developers can now download NetManage's developer version of Windows
Sockets TCP/IP stack and test any application developed to this new
standard. Also provided are two test applications that test the TCP and
DP client and server functionality. Use of the tools is subject to
copyright and license limitation provided with the tools.
Dan Geisler, vice president of NetManage said, "By delivering the
pre-release version of our tools to all developers through immediate
downloading from the Internet, we can accelerate the acceptance of the
Windows Sockets API. By posting it this week, developers will be able to
perform testing before the official Windows Sockets compatibility testing
scheduled to take place next week in Mountain View, California."
Windows Sockets API
The new Windows Sockets API specification defines a standard interface
between a Microsoft Windows application and a PCP/IP protocol stack. The
specifications were previously known by the code name Winsock API.
The Windows Sockets API is based on NetManage's original specifications
that were submitted to the standards committee. The underlying
technology, including message-driven asynchronous- communications, was
first shipped by NetManage in September of 1990. NetManage provides a 100
percent Windows DLL (Dynamic Link Library) TCP/IP stack.
Applications developed using NEWT-SDK will be compatible with Windows
Sockets stacks from any other vendor. Starting today, developers need to
buy only one development kit to write applications to Windows Sockets
compliant stacks.
In addition to the Windows Socket, NEWT-SDK facilitates development using
the FTP, SMTP and SNMP DLLs.
Upgrade Path Available
Current users of NEWT TCP/IP software can upgrade to take full advantage
of the powerful new features of NEWT by purchasing the NEWT upgrade.
NEWT and NEWT-SDK run on both Windows 3.0 and 3.1.
The regular price of NEWT-SDK is $500 at a quantity of one. The price of
NEWT is $60 at a quantity of 100. Both products are now shipping.
NetManage Inc. develops, markets and supports network communications
tools for the Windows environment.
NetManage Inc. is located at 20823 Stevens Creek Blvd., Cupertino, CA
95014, U.S.A., phone 408-973-7171.
/CONTACT: Dan Geisler of NetManage, 408-973-7171; or Gary Chestnutis of
Info-Catalysts, 408-562-6399/
19:21 EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120722
SUBJ: Sen. Fowler outlines positions on energy, environmental issues
WASHINGTON--(BUSINESS WIRE)--Energy America, a coalition of environmental,
consumer, and sustainable-energy organizations, Wednesday released the
results of a comprehensive candidate questionnaire completed by both
President Bush and his Democratic challenger Bill Clinton, as well as the
results of similar surveys completed by Georgia candidate for the U.S.
Senate, Sen. Wyche Fowler.
``This country uses a disproportionate share of world energy supplies and
therefore generates large quantities of polluting emissions which go into
our atmosphere. This survey is important because there are definite
policy differences between the candidates this fall which could have a
major impact on the nation's sustainable- energy policies, the environment
and public health,'' said Kurt Ehrenberg of Energy America.
Candidates were asked their positions on global warming,
sustainable-energy initiatives, auto fuel economy, nuclear power,
renewable energy sources, federal transportation policy, and potential
drilling in the Alaska Wildlife Refuge for oil and natural gas.
Following are results of the Energy and the Environment: 1992 Senatorial
Candidate Questionnaire from Sen. Wyche Fowler (D-Ga.):
Please answer each question yes or no. Attach comments, if you
wish, to clarify yes or no response.
---------------------------------------------------------------
1. Do you favor raising the Corporate Average Fuel Economy standards for
new automobiles to at least 40 mpg by the year 2001?
YES
2. Do you support the `one-step licensing' process for nuclear power
plants that curtails public participation and accelerates their
construction and operation?
NO
I, along with Sen. Robert Graham (D-Fla.), offered an amendment to
the National Energy Security Act of 1992 which would have ensured
public participation in licensing of these facilities.
3. Do you favor:
A. Opening the Arctic Wildlife Refuge to oil and natural gas
development?
NO
B. Requiring double hull construction on all oil tankers
operating in U.S. waters or subject to U.S. jurisdiction
by the year 2000?
YES
4. Do you support committing the Department of Energy to a goal
of U.S. energy self-sufficiency through a shift in funding from
nuclear fission and fossil fuels to the development and
implementation of energy efficiency and renewable energy
technologies?
YES
5. Do you support the position of Senate Majority Leader George
Mitchell:
``Because of the potential dangers posed by nuclear power, the tremendous
expense and time involved in bringing new reactors on line and the
political and scientific difficulties involved with the disposal of
nuclear waste, I believe that the United States should not pursue the
construction of new nuclear power plants facilities.''
YES
In light of formidable challenges such as clean up, waste disposal
and safety of these facilities, I agree with this conclusion. I
further believe that we must be more aggressive in the areas of
conservation and renewable energy sources.
6. Do you support combating the environmental dangers posed by
global warming by:
A. Setting a goal of reducing carbon dioxide emissions by at
least 20 percent by the year 2000 through policies
emphasizing a shift toward energy efficiency and renewable
energy sources?
YES
B. Instituting a `carbon tax' on CO2 emissions from fossil
fuels?
COMMENT
I would have to review the specifics of the proposal as
well as the context in which it is put forth.
C. Accelerating the elimination of CFCs to a deadline of
Jan. 1, 1995?
YES
...if feasible
D. Initiating a large scale effort for development and
commercialization of solar/hydrogen fuel systems for
vehicles and power generation?
YES
7. Do you support the goals of the Sun Day 1992 Campaign of:
A. Reducing U.S. energy use by at least 10 percent by the
year 2010?
YES
B. Tripling the current contribution of renewable energy
technologies by 2010?
COMMENT
I authored the most sweeping renewables law to be enacted
recently and most of the efficiency and renewables
provisions now in the National Energy bill arise from the
aggressive timetable in my legislation.
8. Do you support the re-authorization and strict enforcement of the
Endangered Species Act even in cases where it would block energy
projects?
YES
I have consistently supported the Endangered Species Act.
9. Do you support:
A. The federal government forced siting of the proposed high
level radioactive waste facility at Yucca Mountain, Nev.?
COMMENT
We are currently proceeding with the site evaluation of
the location to determine its suitability. Once the
evaluation is complete, I plan to study the findings
carefully.
B. Operating the Waste Isolation Pilot Project near Carlsbad,
N.M.?
YES
...if all environmental requirements are met.
C. Current so-called `low level' radioactive waste policy
which shifts responsibility from the private generators of
radioactive waste to state governments?
COMMENT
Georgia is part of a Regional Compact with seven other
southeastern states to deal with waste disposal. The 1980
Waste Policy Act requires states to develop managment plans
and I cosponsored the most recent amendments to the act.
D. A comprehensive re-evaluation of U.S. policy in regard to
the storage and isolation (`disposal') of nuclear waste?
YES
E. The Below Regulatory Concern policies which deregulates
the disposal of some radioactive waste materials, certain
radioactive emissions, and radioactive material practices?
NO
I am a cosponsor of S. 1111 and joined with 29 of my Senate
colleagues in writing Senate conferees to the Nationl Energy
Strategy bill asking them to include the provisions of this
bill in the conference report.
10. Do you support the authority of state governments to:
A. Protect their citizens from radiation and other toxic
emissions with stricter than federal laws and regulations?
YES
B. Veto the relicensing of nuclear power plants for safety or
economic reasons, after their 40 year operating license
has expired?
YES
C. Set and enforce stricter than federal standards for the
transportation of radioactive waste across state borders?
YES
11. Do you support the adoption and funding of a federal transportation
policy committed to the development of high speed rail, light rail,
bikeways and other environmentally sound mass transit systems?
YES
12. Do you favor a ban on off shore oil drilling in environmentally
sensitive areas?
YES
13. Do you support protecting the rights of citizen groups to gather
information from and protect the identity of whistleblowers?
YES
14. Do you support the United States signing the global biodiversity
treaty, and taking a leading role in reaching international agreements and
proposing initiatives to restore and protect the global environment?
YES
End of questionnaire. Thank you for your cooperation.
CONTACT: Phil Sparks, 202/682-1270, of Communications
Consortium;
Kurt Ehrenberg or Roy Morrison, 603/431-2499 or
603/456-3641, of Energy America; or
Dennis Creech, 404/525-7657
10:00 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells BANKNORTH GROUP INC. Stock
ISSUER: BANKNORTH GROUP INC.
SYMBOL: BKNG
FILER: MILNE GEORGE D
TITLE: Officer.
SOLD: 9/11/92 2,000 13.00
OWNERSHIP: 36,772 Direct Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120118
SUBJ: Japan Insolvencies-5: Insolvencies By Industrial Sector
A table by major industrial sector of the number of
insolvencies in September compared to the year before and
to August follows:
Industry Sept/92 Sept/91 Change On Yr Aug/92
Real Estate 100 89 +12 102
Construction 235 174 +35 209
Service 119 82 +45 131
Retail 182 176 + 3.4 185
Wholesale 257 175 +44 261
Manufacturing 198 107 +85 198
-0- 0117EDT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120603
SUBJ: Genes Play Role In Alcoholism In Women, Study Finds
By Ron Winslow
LOS ANGELES -- Genetic factors play the same important role in the
development of alcoholism in women as they do in men, a new study
suggests, The Wall Street Journal reported.
The report, based on a study of 1,030 sets of female twins, contradicts
widely held assumptions as well as previous research that social and
psychological factors are far more important than genetic makeup in
explaining why women become alcoholics.
"These results suggest that the biomedical community needs to rethink its
attitude toward alcohol and women," says Kenneth S. Kendler, of the
departments of psychiatry and human genetics at Medical College of
Virginia in Richmond.
By regarding such factors as marital unhappiness and loneliness as
overwhelming contributors to excess drinking in women, doctors may ignore
genetic influences that would enable them to detect a woman's
vulnerability to the disease before it became a major health problem, Dr.
Kendler says.
The study appears in today's Journal of the American Medical Association.
Kendler, who is the lead author of the report, also presented the findings
at the AMA's conference for science reporters here.
Alcoholism is one of the nation's most devastating public health
problems. About one in seven Americans have a serious drinking problem at
least once during their lives. When alcohol-related homicides, auto
accidents and other factors are accounted for, the disease is the fourth
leading killer in the U.S.
Men in the U.S. are about five times more likely than women to become
alcoholics, but among people in their 20s and 30s, the ratio is closer to
2 to 1, Kendler said, indicating that the disease is becoming a growing
problem for women.
Researchers have long known that alcoholism runs in families, but only
recently have they begun to look at experiences of twins and adopted
children to distinguish between genetic and shared social influences that
might explain why.
In the current study, Kessler and his colleagues conducted interviews
with both members of 1,030 sets of twins born from 1934 to 1971, using
among other things a standard diagnostic test for alcoholism. The
researchers said 590 of the pairs were identical twins, meaning they
shared the same genetic makeup, and 440 were fraternal, meaning some genes
are different.
The study found that 6.2% of the group had serious alcohol problems and
2.8% met standard diagnostic criteria for the disease but weren't
alcohol-dependent. Another 8.3% reported significant drinking problems,
but they didn't meet criteria for alcoholism.
If one member of a pair of identical twins suffered from serious
alcoholism, the study found, her twin sister was five times more likely
than non-alcoholic twins to have the same degree of illness. In fraternal
twins, the risk was about 1.5 times. This much higher risk among the
identical twins was similar across the three levels of the disease.
Using another statistical analysis, the researchers factored
family-related social factors and determined that the proportion of
genetic influence for alcoholism ranged from 50% to 61%, about the same as
a previous study estimated for men.
Kendler said the results mean that more women should be participants in
research efforts to identify genes that predispose people to the disease.
And he said they suggest that doctors should take careful family histories
of women patients since alcoholism, like most illnesses, is much easier to
treat or prevent when risk for the disease is detected early.
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120724
SUBJ: Gary Becker, Nobel Prize winner in Economic Sciences, is senior
fellow at the Hoover Institution
STANFORD, Calif.--(BUSINESS WIRE)--Gary Stanley Becker, senior fellow at
the Hoover Institution at Stanford University, has been awarded the Alfred
Nobel Memorial Prize in Economic Sciences for 1992.
A university professor in the University of Chicago's Departments of
Economics and Sociology, Becker has been affiliated with the Hoover
Institution since 1973 when he was named to the Hoover Institution's
Domestic Studies Advisory Board. He was appointed a senior fellow at the
Hoover Institution in 1990.
A major force in the development of contemporary economic thinking,
Becker's innovative linking of empirical generalizations to a broader
theoretical framework extended the application of economic reasoning to
academic fields previously considered largely outside the scope of
economics.
His work has stimulated controversy and much additional study not only
among economists, but also by sociologists, anthropologists, political
scientists, demographers, criminologists, and biologists, thus
contributing an important step in the unification of the social sciences.
Becker is well-known for his work on labor economics and the economics of
the family, extending further than anyone previously the hypothesis of
rational behavior as the explanation of many social phenomena.
In A Treatise on the Family, he applies economic theory to some of the
consequential personal decisions that individuals make in life, such as
choosing a spouse or having children. He has also done precedent-setting
work in the field of discrimination, and his seminal book, ``The Economics
of Discrimination,'' is a standard in the discipline.
Commenting on Becker's receipt of the prize, Hoover Director John Raisian
said: ``My colleagues and I are extremely proud to have Gary Becker as a
Senior Fellow at the Hoover Institution. Professor Becker is a true
pioneer in many fields, especially in areas of human capital and the
integration of economics with family and social behavior.
``He also is an outstanding teacher, and over the years he has been a
mentor to many students of economics, among whom I am pleased to count
myself.''
Becker earned a Ph.D. in economics from the University of Chicago in 1955
and served on its faculty until 1957, at which time he joined the Columbia
University faculty where he served until 1969. During the 1969-70
academic year, he was a Ford Foundation Visiting Professor of Economics at
the University of Chicago, after which he became a regular member of the
Chicago faculty.
A columnist for Business Week magazine, Becker is also an associate
member of the Institute for Fiscal and Monetary Policy for the Ministry of
Japan. He is a member of the National Academy of Sciences, the American
Philosophical Society, and the National Academy of Education. He is also a
fellow of the American Academy of Arts and Sciences and of the Econometric
Society, among other elected and professional societies.
CONTACT: Hoover Institution
Michele M. Horaney, 415/725-7293
19:13 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120603
SUBJ: Strategy Of Slashing Prices Boosts Video-Game Makers
By Joseph Pereira
Yesterday's toy fad can be ho-hum today -- and hot again tomorrow.
Video-game sales, after slumping last year, could reach new heights in
1992, thanks largely to steep price cuts by game makers in recent months,
The Wall Street Journal reported.
Industry leaders Nintendo Co. and Sega Enterprises Ltd. have steadily
lowered the price of their video-game systems powered by 16-bit microchips
to $99, attracting buyers who were turned off by the $199.95 charged by
Nintendo and $149.95 charged by Sega a year ago.
The strategy, while perhaps squeezing profit margins, is working. Adam
Engleson, eight years old, of Brooklyn, N.Y., recently bought a Nintendo
Super NES system with his allowance money, something he wouldn't have done
at the higher price.
Indeed, Nintendo and Sega together could sell 16 million to 17 million
game systems in 1992, including home and portable systems, up from an
estimated 10.5 million last year, predicts John Taylor, an analyst for
L.H. Alton & Co. in San Francisco. (The Toy Manufacturers Association
estimates that 1991 game-system sales were 12 million, including the
products of minor competitors.) Game-cartridge sales, Taylor adds, should
climb to 75 million units from 60 million units in 1991.
"Back in May, some of us in the industry were saying, `No way are
manufacturers going to meet their sales projections for 1992," recalls
James Morici, senior vice president for Capcom Co., a video-game software
developer in Santa Clara, Calif. "Now I'm thinking, they'll make those
numbers."
A video-game resurgence is potentially bad news for traditional toy
makers, who lost sales to video games in the the late 1980s and could
again see them slip. Especially vulnerable, analysts say, are companies
that are strong in boys' toys because boys are bigger fans of video games
than are girls. Stephen Eisenberg, the toy analyst at Oppenheimer & Co.,
has a "buy" recommendation only on Mattel Inc. shares among toy-company
securities because most of the El Segundo, Calif., toy maker's products --
such as its Barbie dolls -- are oriented to girls.
But others say increased sales of video games could stimulate sales of
all toys. "I still say there's going to be Christmas for traditional
toys," contends Jill Krutick, an analyst for Salomon Bros.
The price cuts by video-game makers in part are a response to the
recession. In recent years, "back to basics" toys -- industry talk for
low-tech toys that retail for $20 or less -- have sold particularly well.
Analysts say the pre-holiday season is a critical time for Nintendo and
Sega to establish a base of customers so they can sell more game
cartridges, where they make most of their profits.
With sales of portable games healthy but not showing much growth, new
interest in the 16-bit games accounts for most of the sales surge. But
unlike the past -- when Nintendo dominated the industry -- Sega is drawing
close to its rival. Nintendo says it expects to sell 5.5 million to six
million Super NES units, three times last year's sales. And Sega predicts
it will sell 5.5 million Genesis systems, up from 1.5 million last year.
At $99 -- and $89 on sale at some retailers -- the 16-bit systems are a
bargain. In comparison, Nintendo's original game system with an 8-bit chip
now retails for about $80, although Sean McGowan, an analyst at Gerard
Klauer Mattison & Co., predicts the company will reduce the price to $50
soon to keep the 8-bit system going. Nonetheless, Taylor estimates that
sales of Nintendo's 8-bit system will decline to 2.5 million this year
from 3.5 million last year and 10 million at their peak in 1989.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090008, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Revisions in Taxes On Multinationals Are Urged in Study ----
By Robert Keatley Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210090008
WASHINGTON -- Revising U.S. taxes on multinational companies could raise
federal revenue while also increasing high-tech investment and production
in this country, according to a new study by an economics research group
here.
The Institute for International Affairs said its proposals, if adopted,
would add $12.3 billion to federal receipts and increase U.S. production
of high-tech goods by some $34 billion yearly. The institute also said the
plan would prompt more U.S. and foreign manufacturers to locate key
research and other headquarters operations at American sites.
Gary Hufbauer, the study's chief author, said complex and onerous U.S.
tax laws have the "accidental" effect of driving American technology
companies overseas for both manufacturing and research. Making U.S.
regulations similar to those of other industrial nations, he said, would
encourage such companies to stay home, while also attracting more foreign
investment.
Specifically, the study's proposals include:
Abolishing taxes on income from foreign operations, so U.S. companies
could operate on tax terms like those affecting their main European and
Japanese competitors.
Ending the foreign tax credit, which would no longer be needed.
Ensuring that royalties and fees earned overseas by U.S. companies are
taxed only in the U.S. and at normal corporate rates.
Enacting a 10% tax credit for research and development work performed in
the U.S.
Allowing all headquarters expenses, including research, to be fully
deductible, and adopting a 30% exclusion for long-term capital gains
realized by investors.
The study also advocates new tax treatment for portfolio income.
According to Mr. Hufbauer, Japan, the European Community and the U.S.
should agree to tax such income only where the investor resides. He said
that would raise revenues for all of them while discouraging tax evasion
and tax havens.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090009, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Smoking Ban Sought By Agency on Flights Between Countries ---
U.N. Aviation Authority Urges Member Nations to Enforce
Prohibition by July 1, 1996 ---- By Christopher J. Chipello Staff Reporter
of The Wall Street Journal
SECTION: , ACCESSION: 199210090009
MONTREAL -- In a step toward eliminating smoking on long-haul passenger
flights, the International Civil Aviation Organization approved a
resolution urging member nations to ban smoking on international flights
by July 1, 1996.
The resolution, which isn't legally binding, was adopted by a consensus
of the 153 nations meeting here in the United Nations agency's triennial
assembly. A dozen countries, most of them European, formally expressed
reservations.
Many nations in recent years have restricted smoking on domestic flights.
The U.S. bans smoking on domestic flights of six hours or less. Canada
bars smoking on domestic flights and has ordered Canadian carriers to
phase out smoking on international routes by next July.
Some airlines support an international ban in principle but fear they
will be left at a competitive disadvantage on transoceanic flights if
other nations don't go along.
"We could support it if the same prohibition exists for foreign"
carriers, says a spokesman for the Air Transportation Association, the
trade association for major U.S. airlines.
The ICAO resolution urges member states "to take necessary measures as
soon as possible to restrict smoking progressively on all international
passenger flights with the objective of implementing complete smoking
bans" by July 1996.
"I'm very confident there will be no difficulty at all in implementing"
the resolution, says David Wightman, Canada's assistant deputy minister of
transport. "It's an idea whose time has come."
Others aren't so sure. The U.K. delegate to the ICAO assembly said his
government believes that smoking bans "should be a matter for the judgment
of the airlines who would have to implement" them. Germany, Mexico, Spain,
Sweden, and seven other nations associated themselves with that view.
The health hazard of exposure to smoke for flight crews and nonsmoking
passengers isthe main argument for the ban. "When you're in an aircraft,
you can't open the door and go outside," notes Kenneth Rattray, Jamaica's
delegate to the ICAO assembly.
The ICAO also is studying possible safety problems associated with
smoking. Eliminating smoking provides other benefits for airlines,
including lower costs for cleaning filters and replacing burned
upholstery, says William Jackson of the Air Transport Association.
When Northwest Airlines eliminated smoking on its U.S. flights in 1988,
two years before the legal ban on six-hour flights, "a lot of airlines
thought it was a mistake," says Douglas Miller, spokesman for the Wings
Holdings Inc. unit. "But passenger reaction was "overwhelmingly" positive,
he says. "We're certain that we gained a lot more passengers than we
lost."
Overseas flights are another matter. "A much higher percentage of our
passengers want to smoke on trans-Pacific flights, says Northwest's Mr.
Miller, "particularly our Asian passengers."
That's a potential headache for PWA Corp.'s Canadian Airlines
International unit, which must eliminate smoking on its trans-Pacific
flights by next July. A PWA spokeswoman says the company is telling
passengers they'll still be able to smoke if they book seats on Japan Air
Lines, under a partnership arrangement in which the two carriers book
seats on each other's planes on certain routes.
Supporters of the ICAO resolution predict member states will act on it
because there's increasing public support in many nations for the
concept.
"There is a wave of support for the banning of smoking on airlines," says
Don Newman, U.S. minister to the ICAO. "I think events will overtake
policy."
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120725
SUBJ: A TOTAL OF 13.2 MILLION ELECTORS ENUMERATED AND ELIGIBLE TO VOTE IN
FEDERAL REFERENDUM
OTTAWA, Oct. 13 /CNW/ - Federal enumerators have gathered more than 13.2
million names in door-to-door enumeration, and preliminary voters' lists
are now compiled on computers in 220 ridings in nine provinces and two
territories (Quebec is holding its own vote under provincial law) for the
federal referendum.
``We've had a successful enumeration and are now reaching out to those
people who were missed by the door-to-door enumeration,'' said Mr.
Jean-Pierre Kingsley, Canada's Chief Electoral Officer. ``In one week,
more than 13.2 million names and addresses were entered into our
computers.''
Provincial and territorial totals for enumeration are as follows:
Newfoundland 386,856 Saskatchewan 645,244
New Brunswick 509,859 Alberta 1,627,089
Nova Scotia 639,892 N.W.T. 32,164
P.E.I. 91,098 British Columbia 2,074,947
Ontario 6,467,364 Yukon 16,480
Manitoba 720,764
The preparation of the voters' lists for this referendum is based on a
new system of computerizing the lists of electors developed specially by
Elections Canada, in cooperation with the private sector. SHL Systemhouse
was responsible for logistics and administration of the systems, Philips
Electronics provided the hardware, and ISM Corporation developed the
software.
The system, called Elections Canada Automated Production of Lists of
Electors (ECAPLE), facilitates the compilation of lists of electors and
will streamline the revision process which is about to begin. It should
be noted that the final list of electors prepared for this referendum can
be re-used as the preliminary list for the next federal election, if the
election is called within one year. This means that Elections Canada will
save the expense of enumerating voters a second time.
``We are proud of this new technology and are very pleased that it was so
professionally managed,'' said Mr. Kingsley. ``Our computers are now
completing the printing of Notice of Enumeration cards personally
addressed to each elector, which should arrive at homes by October 16. If
you don't receive this card, contact the Elections Canada office for your
riding immediately to guarantee your right to vote.''
Eligible electors living in urban polling divisions who want to vote in
the referendum must have their names on the list of electors by October
19.
In rural areas, electors can verify if their name appears on the voters'
list when it is posted in public places. Rural voters whose names are not
on the voters' list may still cast their ballots on Referendum Day if a
registered elector in the same polling division vouches for them at the
polling station.
Mr. Kingsley reassured electors that the information on the voters' lists
is protected, and stressed that under the Referendum Act, the voters' list
may only be used for electoral purposes. Any person who misuses the list
is guilty of an offense and is liable to a fine and/or imprisonment.
Elections Canada is the non-partisan agency responsible for the conduct
of the federal referendum.
/For further information: Sylvie Moncion or Carla Shore, (613)
993-2224 or 1-800-267-7360 (toll free)/
19:11 ET
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Singapore Late-AM:Dlr Down Vs Pound, Mark From Tokyo Levels
SINGAPORE -(AP-DJ)--The dollar is lower than earlier Tokyo levels against
sterling and the Deutsche mark in scrappy dealings Wednesday in Singapore.
Dealers said that with no strong fresh news to focus on, speculation on
possible interest rate cuts by Britain and Germany dominate sentiments in
thin trading.
The sterling, which had fallen in Tokyo earlier against the dollar, has
regained some strength. The pound is, however, still down versus marks.
At around 0335 GMT, the sterling is at 1.7140 dlrs, up from 1.7134 dlrs
in Tokyo at around 0200 GMT, but down from 1.7160 dlrs in New York late
Tuesday.
The pound is also at 2.5071 marks, down from 2.5096 marks in Tokyo and
off from 2.5122 marks in New York.
Dealers said however they see the pound's fall as limited as rate cut
talk by Britain has been going around for some time.
A dealer with a large French bank assessed an immediate floor of 2.50
marks for the sterling.
Meanwhile, the dollar is seen to be captured in a narrow band again the
mark and the yen. The dollar is at 1.4640 marks, down from 1.4647 marks in
Tokyo earlier, and unchanged from 1.4640 marks in New York late Tuesday.
The U.S. currency was also at 121.10 yen, weaker than 121.14 yen in Tokyo
but unmoved from 121.10 yen in New York.
The chief dealer with an Australian bank said selling offers for the
dollar are seen at the 1.4680-mark level, while buying interest is at
1.4580 marks.
On the Singapore International Monetary Exchange (SIMEX), currency
futures were heard mixed compared to Tuesday levels at the close of
Chicago's International Monetary Market (IMM), and were also mixed from
the previous SIMEX close.
December delivery yen was heard offered at 0.8245 U.S. cent, off from
0.8260 cent at the close of IMM Tuesday but above the previous SIMEX close
of 0.8220 cent.
December delivery marks were heard offered at 0.6764 U.S. dlr, up from
0.6740 at the IMM close and from the previous SIMEX close of 0.6691.
December sterling was offered at 1.6990 dlrs, off from 1.7066 dlrs Tuesday
at the IMM, but up from its previous closing of 1.6950 dlrs at SIMEX.
December Eurodollar futures, last offered at 96.66, is slightly off from
96.68 at their Tuesday SIMEX close. December Euroyen futures were offered
at 96.39, higher than from the previous finish 96.36.
December Nikkei futures were offered at 17,610 points, down from its
previous closing of 17,675 points and off its opening level of 17,850
points.
In local foreign exchange markets, the dollar was quoted at 1.6090
Singapore dlrs, marginally firmer from the previous level Tuesday in the
republic of 1.6086. The U.S. unit was also quoted at 2.5095 ringgit, up
from 2.5063 ringgit at its previous session's level in Kuala Lumpur.
-0- 0408GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120604
SUBJ: Buyer Of Failed Texas S&Ls Under `Southwest Plan' Sues U.S
By Christi Harlan
A company that acquired 11 failed Texas thrifts in a government-assisted
transaction in 1988 charged in a lawsuit that thrift regulators had failed
to disclose the depth of the institutions' problems, The Wall Street
Journal reported.
The suit is believed to be the first to make such allegations against
regulators who crafted the 1988 thrift sales, which were arranged under
the so-called Southwest Plan. The Southwest Plan transactions typically
included immediate cash infusions by the government, as well as guarantees
of future cash payments to protect the acquirers from losses on risky
loans and repossessed real estate held by the acquired thrifts.
Those concessions by the government prompted criticism in Congress and
elsewhere that the Southwest Plan transactions were overly lucrative for
the acquirers, which include such companies as Temple-Inland Inc. of
Diboll, Texas, and such Wall Street financiers as Lewis Ranieri and Ronald
O. Perelman. Until yesterday, none of the acquirers had complained.
The suit was filed in the U.S. Claims Court in Washington, D.C., by Adam
Corp., a holding company based in Bryan, Texas. The privately held company
was mainly in the cable-television business until four years ago today,
when it completed the acquisition of the 11 failed thrifts that are now
known as AmWest Savings Association.
The company alleges that thrift regulators in Washington, D.C., and Texas
didn't disclose substantial loan problems at the largest of the failed
thrifts, Olney Savings Association of Olney, Texas, which held about a
third of the $3.76 billion in total assets of the 11 thrifts.
Adam also alleges that the regulators withheld information about problems
with some of Olney's former officers. Those ex-officers have been accused
by the Federal Deposit Insurance Corp., in a separate lawsuit, of
directing improper loans that cost the thrift at least $50 million.
One of Olney's former officers was installed as chairman of the new
thrift, AmWest, for about nine months before thrift regulators told Adam
that they wouldn't approve his hiring, the company said in its complaint.
Like other failed Texas thrifts, Olney was allegedly plagued by
sweetheart loans involving officers and favored borrowers. Nonetheless, at
one point thrift regulators considered allowing Olney to become an
acquirer under the Southwest Plan. Adam claims that situation contributed
to the alleged lack of disclosure by regulators.
Spokesmen for the FDIC and the Office of Thrift Supervision, the two
agencies that inherited thrift-regulatory duties in 1989, said they hadn't
seen the suit and couldn't comment.
Adam, which initially invested $80 million in the thrifts, asks that the
claims court find that the government breached the contract that sealed
the 1988 acquisitions. The company is seeking unspecified damages to cover
its losses to date and for the right to shift responsibility for losses on
certain loans to the government. The amount of those loans wasn't
disclosed.
AmWest's general counsel, Mark Mesec of Dallas, said the thrift "remains
hopeful that this matter can be resolved between the parties without the
need for active litigation." AmWest said it had about $2.8 billion in
assets as of Sept. 30, down about 35% from the $4.3 billion it had at the
time of the acquisitions.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090010, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Advisers in Futures Posted a 5% Increase During September
SECTION: , ACCESSION: 199210090010
NEW YORK -- Futures trading advisers posted a 5% gain in September from a
month earlier, according to a "flash" report by Managed Account Reports.
The advance was the fourth consecutive monthly gain reported by the
industry newsletter, following losses in each of the year's first five
months.
For the first three quarters of 1992, Managed Account Reports' trading
adviser index is up 9.9%.
Trading advisers are professionals who manage the money that individuals
and institutional investors place into commodity funds, pools or private
accounts.
The index is dollar-weighted and is normally computed from the
performance of the 25 largest trading advisers tracked by the publication,
but the early flash value is calculated from the reports of nine
representative traders.
The volatility in the currency markets resulted in some traders having
significant gains while others had noteworthy losses. A few trading
advisers moved to the sidelines.
Most of the trend-following traders had small losses for the month.
Trend-followers try to detect when prices are making sustained moves
upward or downward and then buy or sell futures contracts to profit from
those moves. In September, advisers who based their trading decisions on
discretionary methods, as opposed to following trends, had solid gains,
frequently in double digits.
Public commodity funds did not do as well as the trading advisers, with
the index that Managed Account Reports calculates for funds down about
0.2% in September. That result would leave the fund index for the
year-to-date up about 0.1%. The performance of the funds in the index was
largely determined by how well they were able to trade last month's
currency moves. Of the 12 funds that make up the flash value of the index,
four were up, six were down and two were unchanged for the month.
Managed Account Reports tracks 174 public funds open to U.S. investors.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090011, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Measure to Step Up Futures Regulation Wins Final Congressional
Approval ---- By Kevin G. Salwen Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210090011
WASHINGTON -- The Senate gave final congressional approval to a bill that
will bolster oversight of the futures industry, install the last of the
White House-recommended reforms from the 1987 crash and open new lines of
business for the commodity markets.
The bill, which received House backing Friday night after months of
haggling in a House-Senate conference, was driven by the 1989 government
undercover operation that led to dozens of indictments at the Chicago
Mercantile Exchange and the Chicago Board of Trade.
In response, Congress created a bill that will improve so-called audit
trails, increase floor surveillance at the exchanges to help regulators
uncover wrongdoing and boost criminal and civil penalties. Moreover, the
bill will bar brokers from trading for their own accounts or for customers
unless exchanges can prove that they have strong enough audit trails to
deter fraud.
The Senate passed the bill on a voice vote last night after several days
of parliamentary maneuvering to clear a legislative logjam before
adjourning for the year. President Bush is expected to sign the measure.
The threat of the bill, which has been in the works for nearly four
years, already has prodded the Chicago exchanges to improve surveillance.
The key piece of that effort is a hand-held machine that each floor broker
will be required to use to record all trades, complete with a time stamp.
The exchanges already have tested a prototype and will roll out a second
version of the machine this year. The system is expected to be used fully
at both exchanges next year, Board of Trade spokesman David Prosperi said,
after which the exchanges will probably give the technology to other U.S.
commodity exchanges.
"There's a lot that has been done since the 'sting' operation, some by
the exchanges on their own and some by us," Wendy Gramm, chairman of the
Commodity Futures Trading Commission, said in an interview. Still, the
bill will give the CFTC the authority to work more closely with foreign
regulators to deter international commodity fraud and will put tighter
constraints on who can serve on exchange boards, she said.
The bill, enacting the last of the recommendations by the so-called Brady
Task Force that studied the 1987 market crash, also will create federal
supervision of the margins for stock-index futures. Margins are the
good-faith deposits needed to trade stock-index futures, which allow
investors to bet on the move of a basket of stocks without owning the
actual securities.
Under the legislation, the Federal Reserve will be able to monitor
changes in those margin levels, making sure they don't slip too low and
create undue risks to the financial system. Previously, the Fed had
similar authority for stocks and options, but not for futures. During the
market crash of October 1987, futures margins were a fraction of those on
stocks, and several studies of the event concluded that the margin levels
may have helped fuel the large sudden decline in prices.
The bill also will allow the commodity exchanges in certain cases to move
into the rapidly growing area of swaps, customized financial products that
allow big investors to hedge their debt and currency positions. The
exchanges, particularly the Board of Trade, have been itching to break
into the swaps market, which they worry could take away business from the
trading floors.
In return, the swaps industry will receive a new assurance that its
contracts won't be deemed illegal by courts.
"This bill provides us with new opportunities" in the swaps area, the
Board of Trade's Mr. Prosperi said. "It's an area that the Board of Trade
has been looking at over the past few months and will continue to." He
said he didn't know when the exchange might offer a swaps product.
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120726
SUBJ: CANADA WILL ASSIST EARTHQUAKE VICTIMS IN EGYPT
OTTAWA, Oct. 13 /CNW/ - Responding to an international appeal by the
International Federation of Red Cross and Red Crescent Societies (IFRCS),
Canada will contribute $200,000 towards emergency relief for the victims
of the earthquake which occurred in Egypt on Monday.
Mrs. Monique Landry, Minister for External Relations and International
Development, announced that these funds, to be provided by the Canadian
International Development Agency (CIDA), will be used to supply blankets
and tents.
``We are very concerned by this disaster which has just occurred in
Egypt. Canada sees it as a duty to come as quickly as possible to the
assistance of the people affected by this tragedy,'' said Mrs. Landry.
CIDA's regular cooperation program in Egypt mainly covers the agriculture
and water sectors. It aims to increase the country's agricultural
production and to improve the use of its natural resources.
/For further information: Louise Marcotte, Special Assistant:
Communications, Office of the Minister, (819) 994-6161 or Gabrielle
Mathieu, Media Relations Office, CIDA, (819) 953-6060/
19:27 ET
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140011, Page:
SOURCE: WSJour
DATE: 199404120405
SUBJ: Politics & Policy -- Campaign '92: In New York Race, It's Hard to
Tell if D'Amato, Abrams Seek Senate Seat or Mud-Wrestling Title By
James M. Perry Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210140011
SYRACUSE, N.Y. -- Minutes after winning the Democratic Senate nomination,
state Attorney General Robert Abrams began attacking Republican Sen.
Alfonse D'Amato. "I want to go to Washington to shake things up," he said.
"Al D'Amato's been in Washington shaking people down."
Mr. D'Amato fired back with a radio ad that called Mr. Abrams "Mudslide
Bob" and said, in something of a mixed barnyard metaphor, that he wouldn't
tolerate Mr. Abrams throwing "manure" his way.
It's been downhill ever since.
This may be the nastiest statewide political race in the U.S., with both
candidates running neck and neck down the gutter towards the finish line.
It's a contest in which Mr. D'Amato may have the edge, because he's had a
lot more experience running negative campaigns.
But Mr. Abrams keeps trying. "Bob Abrams is an honest man, squeaky
clean," Mr. Abrams says, pacing his cluttered campaign office. "But Al
D'Amato is the most investigated senator in the history of this country.
He has no moral compass. He can't tell right from wrong."
On Sunday, in Binghamton, Mr. Abrams, angered by the fact he had been
heckled by D'Amato supporters in Elmira, labeled his opponent a "fascist."
Mr. D'Amato demanded an apology, which he didn't get, though Mr. Abrams
did say his remark was "unfortunate."
Leading Democrats despair that the negative tone of Mr. Abrams's campaign
may be severely damaging their chances of picking up a Senate seat here.
"Bobby's race is all negative," Democratic Gov. Mario Cuomo complained to
reporters the other day. "If it gets to be mudslinging, these people are
better at it than we are."
The 54-year-old Mr. Abrams does have a positive record, and sometimes he
even talks about it. "There's Bob Abrams," he says, speaking of himself in
the third person. "He began his career as a reform Democrat, an insurgent.
There he is, a 27-year-old kid, capturing a seat in the state Assembly.
They laughed at his candidacy. He takes on the machine. That's what his
life has been all about. Being his own man. Being a reformer."
But Mr. D'Amato, who calls Mr. Abrams a "sleazebag," keeps hammering at
the fact he was criticized by a state investigative commission in 1989 for
accepting contributions from wealthy developers and lawyers who had
business with his office. "And what about Abrams, the plastic Bobby doll?"
he asks, as he heads into downtown Syracuse in a supporter's big Mercedes.
"If I did what he does I'd be hung. They ought to hang Bobby Abrams."
Calling Mr. D'Amato "a desperate rat," Mr. Abrams says he supported the
commission and cooperated with its investigators. "Obviously, it found
some imperfections," he says. "The process is not a wholesome one." The
commission also criticized the fund-raising activities of Gov. Cuomo and
other state and New York City officeholders.
What Mr. D'Amato has been able to accomplish through his personal attacks
and negative ads is to balance his long line of problems with Mr. Abrams's
lone damaging episode. Mr. Abrams has been the state's attorney general
for 13 years, winning praise from his peers and leading the ticket in
statewide races. He has broken new ground in antitrust enforcement,
consumer protection and in prosecuting environmental polluters. But Mr.
Abrams gets almost no benefit from any of it when the campaign is nothing
but charge and countercharge.
Mr. D'Amato, 55, is one of the most extraordinary survivors in U.S.
politics. He's been investigated by a half-dozen law-enforcement agencies
looking into charges he has used his office to win favors for friends and
campaign contributors. "It's had a negative impact," Mr. D'Amato concedes.
But he says the scrutiny is politically motivated and "it's been going on
so long it's totally unfair." Reporters who have investigated his
activities are reviled. He calls one of them a "sleazebucket," another a
"wimp."
He's never been charged with a crime, but the Senate Ethics Committee
slapped him on the wrist for conducting the affairs of his Senate office
"in an improper and inappropriate manner." The senator, the committee
said, allowed his brother, Armand, a Long Island lawyer, to use his Senate
office and Senate stationery to lobby for one of his clients, Unisys
Corp., a defense contractor. Armand D'Amato is awaiting trial on federal
charges of accepting more than $120,000 in concealed payments from Unisys
to lobby his brother.
"Maybe I was negligent," says Sen. D'Amato, a product of the Nassau
County GOP machine on Long Island. "Maybe the appearance of what I did
could be construed as favoritism. But I've taken appropriate steps. My
brother's not permitted to come to my office any more, or ask for
anything."
The senator has also been upbraided on "60 Minutes" and on "Prime Time"
for giving character testimony for a mobster. Playboy magazine headlined
its story about him, "The Worst Senator in America." And yet he soldiers
on, still a hero to many New Yorkers who see him as a champion of ordinary
citizens trying to grapple with unresponsive bureaucrats. His most
appealing trait is the way he fights for his constituents. He is mean and
aggressive, and he's willing to spend countless hours battling over what
most senators, including his colleague, Democratic Sen. Patrick Moynihan,
might see as trivial pursuits. Even his friends, all of whom he calls
"babes," salute him as "Senator Pothole."
"If I had trouble with my passport," says one of Mr. Abrams's
strategists, "I'd get in touch with D'Amato too."
Last week, Mr. D'Amato was on the Senate floor, with Mr. Moynihan in a
supporting role, for 15 hours in a row unsuccessfully filibustering for
legislation that might have saved 857 jobs at a typewriter factory in
Cortland. "I don't do these things for the headlines," he said the
following day, without cracking even a trace of a smile.
He began his campaign for a third Senate term earlier this year with
commercials celebrating his greatest constituent-service hits: getting a
new boat for Long Island fisherman Dan Hand after the Navy blew up his old
one because it had hooked on to a World War II torpedo; tracking down the
abducted children of Barbara Harless from Buffalo; locating the long-lost
twin sister of Jack Hill from Clifton Park.
Mr. Abrams, meanwhile, narrowly won a nasty Democratic primary last month
over 1984 vice presidential nominee Geraldine Ferraro, who hasn't forgiven
him yet for his attacks on her ethics. He emerged from that bruising fight
without much cash -- Mr. D'Amato will spend $12 million -- and without a
plan for taking on his opponent. Mr. D'Amato, on the other hand, was
ready. The day after the primary, he launched a series of negative ads
that cut Mr. Abrams's double-digit lead in the polls by half.
Mr. Abrams also marched straight into Mr. D'Amato's gunsights by
supporting, at least in principle, a vast national health plan offered in
Congress, under which the federal government would take over all health
insurance. It proves, Mr. D'Amato says again and again, that Mr. Abrams is
"hopelessly liberal."
But Mr. Abrams, when he finally gets his campaign in order, will discover
some ripe targets of his own, not the least of which are Mr. D'Amato's
legal problems, and the fact that his opponent is, after all, a Republican
in a year when Democrat Bill Clinton is expected to sweep New York state.
There is also the fact that Mr. D'Amato is anti-abortion. He will also
appear on the ballot as the candidate of the state's Right to Life Party.
"As far as abortion rights are concerned," says Mr. Abrams, "you couldn't
do worse than Al D'Amato."
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120604
SUBJ: Topps Insiders Have Engaged In Heavy Sales
By Alexandra Peers
NEW YORK -- Has Topps Co.'s stock price topped out?
There has been heavy insider selling in the shares of Topps, the
Brooklyn, N.Y., manufacturer of baseball cards and Bazooka bubble gum,
filings with the Securities and Exchange Commmission show, The Wall Street
Journal reported.
The sales come at a time when the company is involved in a fierce battle
for market share, according to Wall Street analysts and baseball card
dealers. While Topps has had the dominant brand name in baseball cards for
decades, profit has been eroded by competition from "premium" card
manufacturers, who lured collectors away with heavier paper stock and
holographic cards. And the company is just about to take on Marvel
Entertainment Group through a new comic book subsidiary.
Topps President John J. Langdon has sold 100,000 Topps shares -- all of
his shares in the company -- since June 23, according to SEC filings,
although he continues to hold options representing 587,000 shares. He
declined to comment; a spokeswoman said Langdon sold the stock to purchase
a home.
His sales follow sales earlier this year of a total of 628,860 shares by
four other Topps insiders, two of whom are principals of the investment
firm Forstmann, Little & Co., which held a majority stake in the company
but distributed it to limited partners late last year. All the insiders
sold their shares at prices ranging from $15.375 to $19. Theodore
Forstmann, a director of Topps, has sold 539,085 shares so far this year.
Through a spokeswoman, he said that he still retains more than 500,000
shares.
There has been little movement in Topps shares since the insider sales,
or for several months, for that matter. Topps began the year strongly,
hitting its 1992 high of $20.25 on Jan. 23, but backed off in February. It
has since traded in the $15 to $17.50 range. In over-the-counter trading,
Topps shares closed yesterday at $16, down 25 cents.
There was a spate of positive analysts' reports on the stock last summer,
with Wall Street hoping that sales of the company's line of trading cards
based on the film "Batman Returns" would equal the blockbuster sales of
cards from the first movie.
But the less-than-stellar reception for both the movie sequel and the
cards, weak sales of collectible cards in general, and the recently
announced merger of a prime Topps competitor, Fleer Corp., with Marvel has
prompted some analysts to reconsider their endorsements. On Sept. 17,
Alex. Brown & Sons Inc. cut its recommendation on the stock from "buy" to
"neutral."
Topps Chairman Arthur T. Shorin -- who says he holds two million shares
and hasn't trimmed his holdings -- doesn't deny that the company faces
stiff competition. But he says the overall weak market for sports cards
and the resulting shakeout of card manufacturers will ultimately benefit
Topps, as dealers remove lesser-known names from their shelves. Moreover,
Topps' 1993 line of baseball cards will be redesigned "premium cards at a
popular price" of 69 cents a pack, compared with the current price for the
basic line of 55 cents a pack, he says.
He added that Topps had considerable success with its introduction last
year of deluxe, plastic-coated "Topps Stadium Club" football and baseball
cards, which sell for a pricey $1.50 to $2 a pack.
But the Stadium cards can't boost Topps' bottom line that much, says
Robert Wynne, who covers the sports card industry for Tuff Stuff, a
hobbyist's magazine based in Richmond, Va. They're valued by collectors
precisely because they have relatively modest print runs of about one
million copies of each card, he says. The standard Topps baseball cards
aren't that popular with investment-minded collectors, according to Wynne,
but they make up the bulk of Topps's business, with printings of about six
million each.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140012, Page:
SOURCE: WSJour
DATE: 199404120405
SUBJ: Politics & Policy: Colorado's Campbell Goes His Own Way In
Senate Race Against GOP's Considine ---- By David Rogers Staff
Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210140012
FORT COLLINS, Colo. -- Ben Nighthorse Campbell is many things to many
people in this Rocky Mountain state. Few have to do with being a
Democrat.
In a year of political upheaval, the 59-year-old Senate candidate runs on
persona rather than party. Astride his faithful ol' paint, Black
Warbonnet, he races across television screens, a West Slope rancher and a
member of the Northern Cheyenne Council of Chiefs. He is a skilled jeweler
and Olympic-class master of martial arts, a card-carrying Teamster and a
former deputy sheriff who, as a congressman, rides posse with Wall Street
investors bent on wiping out the capital gains tax.
"I'm not one-faceted," he says. "Independence," he adds, laughing.
"That's one thing they damn sure can predict."
Spending heavily on television, Mr. Campbell went around party regulars
to win the Democratic nomination in August and hopes to capture
disaffected Republicans as well in November. The abortion debate and the
emergence of a strong Christian Right movement here have divided the
Colorado GOP establishment. And Mr. Campbell symbolizes a breed of
Democratic fiscal conservatives who are prepared to move into this
political vacuum in the West.
It is a dazzling but dizzying display that both makes him the favorite
and threatens to be his undoing. What Mr. Campbell has going for him is a
"feel," like the old Mission Oak furniture enjoying a revival in suburban
Denver. But what's missing is a clear sense of where his "Back to the
Future" campaign wants to take voters after the election.
"Ben is a mile wide and an inch deep," says Republican rival Terry
Considine, who has narrowed Mr. Campbell's lead with a set of cutting,
sometimes comic, television ads. "Whoa, Ben!" begins one, teasing the
Democrat for missing votes back in Washington. A second, dubbed "North to
Alaska," takes the congressman to task for having Chevron Oil fly his wife
and himself on a five-day tour of the Artic National Wildlife Refuge two
years ago.
A member of the House Interior Committee, Mr. Campbell protests that he
remains opposed to drilling at the refuge, but he exaggerates his record
of standing up to the industry. The House votes cited by his campaign were
largely decided by such lopsided margins that they were no test of the oil
lobby's influence. A more telling set of roll calls came in 1989 -- before
the trip -- when Mr. Campbell helped blunt attempts by coastal states to
impose stricter liability standards on shippers in the wake of the Exxon
Valdez oil spill.
Environmental and abortion-rights organizations are moving this week to
solidify their support for the Democrat, but Mr. Campbell's very
independence and fiscal conservatism tend to make him a loner in the House
and an uncertain, even diffident, ally on major party issues.
His platform calls for family leave legislation and campaign finance
reforms, but at crucial junctures in the past he withheld support for the
same initiatives because of his ties to small business or opposition to
public financing. He speaks passionately of the need to help poor children
-- "Kids don't have PACs, kids don't have lobbyists" -- yet backed away
from legislation this month that promised billions for child welfare. At
the same time, he calls for "a total deletion of capital gains," and New
York jewelers rally to his side out of a shared opposition to luxury
taxes, as well as artistic kinship. "The hard choices, the clear choices"
says a Campbell television ad citing his opposition to a congressional pay
raise. In fact, he keeps the salary increase he once voted against.
The 45-year-old Mr. Considine bubbles over with conservative policy
proposals but still seems flummoxed by the political task ahead. The
millionaire Republican prepared for years to challenge Sen. Tim Wirth, a
fellow Harvard and Porcellian Club man, whose liberal record and ties to
the junk-bond lobby consumed months of opposition research. That work went
for naught when Mr. Wirth withdrew last spring. Mr. Campbell is both a
more benign rival and one whose remarkable life makes the Republican seem
a pale remnant of Colorado's go-go savings-and-loan era of the 1980s.
A former state legislator, Mr. Considine was a leading force in the
adoption of Colorado's term limits law in 1990, and remains active in the
national movement. He strikes a populist, libertarian tone but is
constrained by his wealth and Establishment pedigree -- his father-in-law
is Howard "Bo" Callaway, an old GOP warhorse -- and his alliance with the
anti-abortion movement.
A Groton graduate, he speaks earnestly of working his way through Harvard
in the 1960s -- yet his summer advertising job permitted him to earn as
much in a few months as many blue-collar workers then earned in a year.
His stump speech identifies with the plight of single mothers in the work
force, yet he is hurt by his past dealings with the failed Silverado
Savings & Loan. In the mid-1980s, one of his companies took over two
troubled apartment houses from Silverado, then later returned them to the
thrift at an ultimate cost to the government.
Nothing illegal is alleged, but Mr. Campbell charges, "The fact that he
was involved in it at all ought to make people worry." He likens his rival
to a "snake" with "deep pockets" and hits back with a television ad that
asks: "If Terry Considine could cost taxpayers millions of dollars as a
bad businessman, imagine what he could cost us if we let him be a
senator."
The race here in Larimer County reflects the crosscurrents at work
statewide. For decades, county voters have generally delivered the big
margins that helped Republican candidates win statewide. But they also
have an independent streak that permitted iconoclastic former Democratic
Gov. Richard Lamm to carry the county as well.
James Johnson, a former Republican congressman who first ran as an
anti-war candidate in the mid-60s, embodies this spirit; his endorsement
of Mr. Wirth in 1986 helped the Democrat to do well enough here and in
nearby Weld County to win narrowly statewide. Now, though, he backs Mr.
Considine, and says: "I think Campbell's in the process of booting it."
But sitting next to him at a restaurant table, James Beatty, a friend and
former GOP state senator, remains torn. Mr. Campbell "is not expressing
himself," he says, but his voice betrays an affection and respect that
doesn't extend as easily to Mr. Considine. "I know many, many Republicans
who are going to vote for Campbell," says William Kaufman, the Larimer GOP
chairman in Loveland.
"Both parties have failed miserably," says Tom Redder, a 37-year-old
state legislator who hopes to upset Republican Rep. Wayne Allard in a race
here for the House. Like Mr. Campbell, he has defined himself as a fiscal
conservative but strong proponent of abortion rights. "Parties don't
define the problems for people any longer," he says. "The challenge in the
campaign is filling that vacuum."
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120127
SUBJ: N.Z. Shares End Mixed On Moderate Trading;Index Near Level
WELLINGTON -(AP-DJ)--New Zealand equities ended mixed in
moderate activity Wednesday, with local brokers saying the
market is expected to ease Thursday.
The market Wednesday began the trading session in an
"upward mood" helped by foreign orders, but later the early
overseas support faded away, said Paul Davenport of
brokerage Doyle Paterson Brown Ltd.
Many local institutions appear to be engaging in little
trading on the exchange while they wait for overseas
financial markets to settle, believes Davenport.
The NZSE-40 index, was down 0.54 points at 1,390.63 from
Tuesday's close. The index rose 1.1% Tuesday.
Turnover was 11.2 million shares valued at $19.6 million
New Zealand, compared with Tuesday's 17.1 million
shares valued at $27.4 million NZ.
Rises outnumbered falls 29 to 19.
The December share-index futures contract closed lower
at 1,400, from 1,410 Tuesday.
Davenport predicts the market will trade "moderately
lower" Thursday, assuming overseas bourses are steady.
-0- 0127EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells BANKNORTH GROUP INC. Stock
ISSUER: BANKNORTH GROUP INC.
SYMBOL: BKNG
FILER: MILNE GEORGE D
TITLE: Officer.
SOLD: 9/9-11/92 2,500 13.00
OWNERSHIP: 26,939 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells BANKNORTH GROUP INC. Stock
ISSUER: BANKNORTH GROUP INC.
SYMBOL: BKNG
FILER: RICHEY MARGARET E MS
TITLE: Director.
SOLD: 9/9-11/92 2,500 13.00
OWNERSHIP: 21,464 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:04
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Gold Steady From HK Open At 344.95 Dlrs; Thin HK Trade
HONG KONG -(AP-DJ)--Spot gold for London delivery is unchanged from its
opening levels in Hong Kong at 344.95 dlrs an ounce, in thin,
directionless trading.
Around 0410 GMT, bullion was indicated at 344.70-345.20 dlrs, unchanged
from its Hong Kong open, but up from the New York close at 344.00-344.50
dlrs.
A dealer at a Swiss bank described trading as quiet, but said gold has
firmed from New York on continued physical demand, particularly by Asian
jewellery interests.
Despite such buying interest, he expects trading to remain sluggish, with
bullion holding in a range of 343.50 to 345.50 dlrs over the remainder of
East Asian trading. He sees the metal ending the day below its Hongkong
open.
-0- 0412GMT
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140013, Page:
SOURCE: WSJour
DATE: 199404120405
SUBJ: Marketing & Media: Writer Gets $35 Million From Simon & Schuster
SECTION: , ACCESSION: 199210140013
NEW YORK -- Simon & Schuster has agreed to pay suspense writer Mary
Higgins Clark $35 million in advance for her next six books, catapulting
her into the ranks of the nation's richest writers.
The publisher, a unit of Paramount Communications Inc., wouldn't confirm
the total, which was released by Ms. Clark's agent, Eugene H. Winick.
Simon & Schuster, which has published all 10 of the writer's previous
books, signed the new deal for four novels, a memoir and a book of
stories. In 1988, the publisher paid her $10 million in advance for four
novels and a book of stories, a sum which seemed enormous at the time.
Though publishers hate it when mega-deals like these become public and
create pressure from other authors, the general response to Ms. Clark's
new deal is that her track record merits it. While her new deal is
staggering, it is less than what Stephen King and Tom Clancy get. Mr.
Clancy just got about $14 million in advance for his next novel and that's
just for North American hardcover and paperback rights. In the case of Ms.
Clark, Simon & Schuster gets world-wide rights in both hardcover and
paperback.
Simon & Schuster said 22 million copies of Ms. Clark's books are in print
in the U.S. and that her latest and most successful, "All Around the
Town," sold about 550,000 copies in hardcover alone. "She sells more
copies of every new book and we think that for future sales the sky's the
limit," said Carolyn Reidy, president of the consumer book division at
Simon & Schuster.
One of the great publishing success stories, Ms. Clark started writing
novels after she was widowed at the age of 36, with five children to
support. She was paid about $3,500 up front for her first novel, "Where
Are The Children?" and she is famous for working hard to plug each new
book she writes, spending up to two months on the road.
"If anybody has to get this much money, I'm glad it's her: she may be the
single hardest-working and nicest author in the business," said Laurence
Kirshbaum, president of Time Warner Inc.'s Warner Books, which publishes
her daughter, Carol Higgins Clark.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140014, Page:
SOURCE: WSJour
DATE: 199404120405
SUBJ: Enterprise -- Fast Track: `Personal Organizer' Firm's Days Are
Full -- of Cash --- Small Day Runner Inc. Stresses Innovation To Be
a Top Player in Industry ---- By Timothy L. O'Brien Staff
Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210140014
Organize. Systematize. Prioritize. Categorize.
Whichever word makes your mouth water, there's a bulging, portable
"personal organizer" available to help schedule every minute of your life.
And as your appetite for micro-scheduling grows, organizers may make your
little black book a relic with all the charm and utility of a Model T.
Personal organizers are basically thick notebooks with an appointment
calendar, telephone and address index, sections for notes and general
information, and an array of features ranging from stamp kit to electronic
databank. They have given birth to a $500 million business that has
thrived in spite of the recession. And one small company has emerged as
one of the industry's most successful players.
Day Runner Inc. of Fullerton, Calif., nearly quintupled sales of its
organizers in just four years, to $53 million last year from $11 million
in 1987. Rather than focus entirely on the most obvious market, corporate
executives, the company mass-marketed its organizers by making them
adaptable to many needs. Today, 12 years after Day Runner was formed,
those familiar with the industry say the company has captured more than
half of all retail sales of organizers.
"They have name recognition in a blossoming market," says Seth Feinstein,
an analyst whose brokerage firm, Cowell, Weedon & Co., makes a market in
Day Runner's stock. Moreover, the company has been innovative with new
products, a major reason for its success, analysts say.
Personal organizers were first spotted being stuffed into briefcases and
pulled out of purses in the early 1980s. But interest in the planners has
spread to other segments of the population, including teachers, students,
small-business owners and even blue-collar workers, helping to spur
sales.
Even in a languishing economy, Day Runner's sales surged 39% in the first
six months of this year from the same period in 1991, to $28 million. The
company's stock, which began trading over the counter in March at $15 a
share, closed yesterday at $17.
One reason for Day Runner's appeal is the variety of products it offers.
It markets loose-leaf organizers in different sizes, shapes, colors and
surfaces, from embossed vinyl to leather. Stuffed with organizational
goodies, they range in price from $10 to $265.
"One of the great advantages of this business is that the product has a
very broad appeal," says Hope Neiman, Day Runner's vice president for
marketing. "We even heard from a dog-sled racer in Alaska."
In its early years, Day Runner marketed its organizers primarily as
executive novelties in gift stores. In 1985, however, it changed
direction, promoting the product as a "productivity tool" and selling it
in office-supply stores. From there, Day Runner moved into low-price
"superstores" such as Staples Inc. and Office Depot Inc., and sales took
off.
"There was a good fit between superstore customers and our customers,"
says Day Runner Chairman Mark Vidovich. "They target small-business
persons, and our product was a perfect match for those kinds of people."
The next step was to move into mass merchandising. Within the past year,
Day Runner organizers have gained entry into the Wal-Mart Stores Inc. and
Fred Meyer Inc. chains.
With its distribution channels opened, Day Runner says it plans to focus
more energy on designing new products. It has embarked on a joint venture
with Texas Instruments Inc. to produce a planner that combines a paper
organizer with a sophisticated, but simple-to-use, electronic organizer,
the two companies say. They plan to launch the product early next year.
Last July, Day Runner introduced Time Plus, software that tracks
appointments and "to-dos" and is designed for use on IBM-compatible
personal computers.
Day Runner says it isn't too concerned about competition. Given the
peculiarities of the organizer industry, there is little direct
competition. Day Runner and the other major players in the industry,
DayTimers Inc. of Allentown, Pa., and Franklin Quest Co. of Salt Lake
City, say they sell their products through such different channels that
none considers the other two as direct competitors.
While Day Runner dominates in the retail sector, Franklin Quest sells the
bulk of its organizers directly to executives, managers, and other
employees enrolled in time-management seminars that it runs for
businesses. It says it has no interest in challenging Day Runner in
discount stores. Last week, Franklin reported a 54% profit increase, on
higher revenue of $121 million, for its fiscal year ended Aug. 31. About
$97 million of its revenue came from the sale of planners.
Day-Timers, now an American Brands Inc. subsidiary, sells its planners
through direct-mail catalogs. The 40-year-old company won't divulge
financial information, except to say that revenue last year exceeded $110
million.
Other companies that might pose a threat to Day Runner have all gotten
off to a slow start. Keith Clark and Rolodex Corp. have only made
tentative entries into the organizer field, and Filofax PLC, a British
concern, hasn't made a serious dent in the North American organizer
market.
If Day Runner doesn't have to look over its shoulder, it insists it isn't
being complacent. "I think everyone in business needs to worry about
competition," says Mr. Vidovich, the chairman. "But we're in a position of
strength, where we can go out and choose our own course."
---
Day Runner Inc.
BUSINESS: Makes personal organizers
NUMBER OF EMPLOYEES: 470
1991 EARNINGS: $0.72 per share on net income of $3.3 million
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120145
SUBJ: Tohoku Electric Power Registers To Issue Bonds In Japan
TOKYO -(AP-DJ)--Tohoku Electric Power Co. registered
with Japan's Finance Ministry Tuesday to issue domestic
bonds, a company official said.
The registration allows Tohoku to issue up to 650
billion yen of bonds over a two-year period. Tohoku is one
of Japan's electric power companies, which are the premier
issuers in the domestic corporate bond market.
Nippon Investors Service rates the registration a
preliminary Triple-A.
-0- 0145EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120728
SUBJ: Media Vision Inc. initial public offering of common stock
FREMONT, Calif.--(BUSINESS WIRE)--Media Vision Inc. announced the filing
of a registration statement with the Securities and Exchange Commission
relating to the proposed initial public offering of 2 million shares of
common stock, $.001 par value, to be sold by the company.
It is currently anticipated that the initial public offering price will
be between $11 and $13 per share. The company will have approximately
10,215,000 shares outstanding after the offering.
Montgomery Securities and Cowen & Co. will co-manage the offering. A copy
of the preliminary prospectus can obtained from the office Montgomery
Securities, 600 Montgomery St., San Francisco, Calif. 94111 or Cowen &
Co., 345 California St., Suite 2600, San Francisco, Calif. 94104.
Media Vision Inc., based in Fremont, designs, manufactures and markets
innovative and affordable multimedia computing products that add enhanced
sound capabilities to IBM PC and compatible personal computers.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state.
CONTACT: Media Vision, Fremont
Steven J. Allan, 510/770-8600
19:37 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys BRL ENTERPRISES INC. Stock
ISSUER: BRL ENTERPRISES INC.
SYMBOL: BRALF
FILER: CUNDILL FRANCIS P
TITLE: Beneficial owner.
PURCHASED: 9/29/92 8,500 3.00
OWNERSHIP: 752,884 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140015, Page:
SOURCE: WSJour
DATE: 199404120405
SUBJ: Technology & Health: Microsoft Net Income Rose 45% in Quarter,
Exceeding Estimates
SECTION: , ACCESSION: 199210140015
REDMOND, Wash. -- Microsoft Corp. continued to outpower the rest of the
personal-computer software market as its first-quarter earnings rose 45%
to $209 million, or 70 cents a share.
In the year-earlier quarter, the computer software maker had earnings of
$144 million, or 50 cents a share. Per-share figures reflect a 3-for-2
stock split in June. Revenue for the quarter rose 41% to $818 million from
$581 million a year ago.
The company's per-share earnings for the quarter ended Sept. 30 were
slightly above analysts' consensus estimate of 68 cents a share.
Microsoft's strong quarterly showing contrasts with lingering problems
among PC software manufacturers. For example, Borland International Inc.,
one of Microsoft's chief rivals, yesterday reported fiscal second-quarter
net at the low end of analysts estimates. Another rival, Lotus Development
Corp., is also expected to post disappointing results, in part because of
Microsoft's one-two marketing punch through its Windows operating and
applications systems. Still, said First Boston analyst Paul Johnson,
"Given the trend in the industry, I'm a little surprised at how strong
Microsoft has continued to be."
Microsoft said its Windows applications programs such as Word for Windows
and the Excel for Windows spreadsheet program continued to set a torrid
sales pace. Total sales of Windows applications programs more than doubled
over the yearago quarter, the company said.
Frank Gaudette, Microsoft's executive vice president and chief financial
officer, said the results also show strong acceptance of the company's
Windows operating system.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120156
SUBJ: Australian Housing Minister -2: Sees Recovery Broadening
Later Wednesday, Howe told parliament that the
recovery in the housing industry is a pointer toward an
improvement outlook for the Australian economy as a whole.
"The government can rightly point to a sustained and
substantial period of growth" in housing, Howe said.
"The reality is that we have now had a significant
recovery over five quarters. We are now looking at a very
significant recovery indeed," he said.
"Today's housing finance figures provide optimism the
housing recovery is starting to broaden. The current low
mortgage interest rates, coupled with competitive house
pricing, is making it very attractive for people to enter
into home ownership," Howe maintained.
"The housing recovery isn't just underway, it is now
consolidating so that we see in prospect a very very
substantial achievement in the housing industry," he said.
"Housing is an important leading indicator, and that
shows signs that where there is confidence in the economy,
then we will get very significant growth," Howe said.
The housing data "indicates prospects for a broader
recovery in the economy as a whole," he contended.
-0- 0155EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120202
SUBJ: Bundesbank Leaves August M3 Unrevised At 9.0%
FRANKFURT -(AP-DJ)--Germany's August M3 money supply
growth rate was left unrevised at an annualized 9.0% from
the average of the fourth quarter of 1991, the Deutsche
Bundesbank said in its October monthly report.
The Bundesbank report often contains a revised version
of the rate given the previous month. This month's report
didn't contain any fresh commentary.
M3, a broad measure of money supply, has become one of
Germany's most closely followed economic indicators. It
includes cash in circulation, most forms of savings as well
as sight deposits and time deposits of less than four years.
September data is expected to be released sometime next
week.
-0- 0202EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120729
SUBJ: TIME MAGAZINE FILES SUIT AGAINST BUSH/QUAYLE 92' FOR INFRINGEMENT
OF COPYRIGHT, TRADEMARK AND OTHER LAWS
NEW YORK, Oct. 13 /PRNewswire/ -- TIME Magazine is filing suit against
the Bush/Quayle 92' campaign for infringement of copyright, trademark and
other laws, charging that the campaign is making unauthorized use of
TIME's April 20, 1992 cover "Why Voters Don't Trust Clinton" in a
television commercial.
After the Bush/Quayle advertisement first aired Sunday, Oct. 11, lawyers
for Time Inc., TIME's parent company, sent a letter to the campaign
insisting that they "immediately cease and desist from any further
broadcast, telecast or other use of the commercial." The magazine
protested that "the implicit suggestion of the commercial that TIME
endorses its contents is extremely damaging to TIME's reputation and makes
this infringement of Time's rights all the more serious."
A lawyer for the Bush/Quayle campaign responding to TIME's demand refused
to pull the advertisement. As a result, lawyers for Time Inc. are filing
suit in Federal District Court in Washington, D.C. Henry Muller, the
magazine's managing editor, points out, "This is a serious distortion of
our journalism. From time to time we've done critical covers on all three
candidates, and we object to the implication that we are taking sides."
/CONTACT: Kelly Keane, 212-522-4859, or Peter Costiglio, 212-522-3927,
both of TIME Magazine/
19:33 EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys BRL ENTERPRISES INC. Stock
ISSUER: BRL ENTERPRISES INC.
SYMBOL: BRALF
FILER: CUNDILL PETER HOLDINGS BERMUDA LTD
TITLE: Beneficial owner.
PURCHASED: 9/29/92 8,500 3.00
OWNERSHIP: 752,884 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Kuala Lumpur midday Interbank Foreign Exchange Rates
Quoted By The United Malayan Banking Corp
2.5085 - 2.5095 Malaysian ringgit to 1 U.S. dlr
1 mo 2.5185 - 2.5205
2 mo 2.5295 - 2.5415
3 mo 2.5400 - 2.5420
1.7130 - 1.7140 U.S. dlrs to 1 British pound Tone: quiet -0- 14-10-92
0423GMT
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090014, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Who's News: Mapco Inc.
SECTION: , ACCESSION: 199210090014
MAPCO Inc. (Tulsa, Okla.) -- Philip W. Baxter, 43 years old, formerly
vice president of finance at this energy concern, was named senior vice
president of strategic planning. Mapco said Mr. Baxter's previous position
would not be filled at this time.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120210
SUBJ: Hong Kong Mid-Afternoon Foreign Exchange Indications
(Quoted by Astley & Pearce Hong Kong Ltd.)
Sterling 1.7140-1.7150
W.Germany 1.4835-1.4845
Japan 121.02-121.12
Switzerland 1.3063-1.3073
Netherlands 1.6975-1.6985
France 4.9670-4.9700
Singapore 1.6090-1.6100
Canada 1.2400-1.2405
Hong Kong 7.7320-7.7330
-0- 0210EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120730
SUBJ: GROWTH INVESTMENT CORPORATION
TORONTO, Oct. 13 /CNW/ - Mr. Charles Kucey, of Toronto, Ontario,
announced that he has today purchased 23,000 common shares of Growth
Investment Corporation through the facilities of The Toronto Stock
Exchange.
Mr. Kucey, together with the members of his family, currently owns or
controls 192,000 common shares of Growth Investment Corporation,
representing approximately 11.19 per cent of the outstanding common
shares.
All of the 192,000 common shares of Growth Investment Corporation are
held for investment purposes. Mr. Kucey believes that the common shares of
Growth Investment Corporation represent an attractive investment and,
depending upon market prices and other factors, Mr. Kucey may make
additional purchases of common shares or dispose of all or part of the
common shares now owned or hereafter acquired.
/For further information: Charles Kucey, (416) 594-7100/
19:39 ET
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090015, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Philippine Phone Monopoly's Shares Will Resume Rise, Some Analysts
Say By Lawrence MacDonald Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210090015
MANILA, the Philippines -- Is it time to reconnect with Philippine Long
Distance Telephone Co.? Some analysts think so. They say shares of the
telephone monopoly, which soared 64% in the first six months of the year
to a record 1,275 pesos ($52) each, have ended a four-month consolidation
and are set to resume an upward course.
While no one expects a repeat of the January-June surge, many say the
stock, which closed Thursday at 995 pesos, down 22% from its June 10 peak,
is poised to lead a fourth-quarter market rally, while also offering good
long-term value.
"PLDT at the present level is attractive," says Matthew Choi, Hong
Kong-based manager of the Thornton Philippine Redevelopment Fund. Buoyed
partly by PLDT, which accounts for between 10% and 20% of its portfolio,
the fund has risen 114% in the past year.
Lourdes Sison, vice president for foreign institutional sales at Sun Hung
Kai Securities in Manila, says inquiries about PLDT are on the rise. "I am
recommending PLDT as a long-term investment." She says the company's
price-earnings ratio of less than 10 is cheap for a developing-country
telecommunications stock, and is lower than the Philippine market's
overall P-E ratio of about 12. (The P-E ratio is the price of a share
divided by per-share earnings for a 12-month period.)
PLDT's share price has lagged Manila's composite index in recent weeks
because of worries that a $250 million offering of preferred convertible
shares to international investors later this month would undercut the
common stock. But preliminary pricing information indicates that probably
won't be a problem, so investors are again eyeing a stock that many
consider a bet on the Philippines as a whole -- only less risky.
In New York, where PLDT is one of several Philippine companies traded on
the American Stock Exchange, the shares tend to follow the Philippines'
fortunes. But unlike the country, which seems at times to move one step
forward, one step back, PLDT usually manages to hold on to much of its
gains. When disaster strikes, the company's business -- though not
necessarily its share price -- typically improves as millions of Filipinos
abroad call home.
Last year, while the Philippine economy contracted 1%, PLDT's profit grew
52% to 4.5 billion pesos, while revenue expanded 29% to 16.6 billion
pesos. This year, with the economy growing at about a 2% rate, profit is
projected to grow 13% on a 12% rise in revenue. (Since most of PLDT's
domestic and foreign revenue is linked to the dollar, profits soared in
1991, when the U.S. currency was strong against the peso, but are growing
more slowly this year as a result of dollar weakness.)
Such returns make PLDT especially attractive to the sort of investors who
are currently shopping the market -- those with little Philippine exposure
whose interest has been awakened by hopes of improved political stability
and economic growth under President Fidel Ramos.
In addition, some long-time investors in the Philippines who sold PLDT
during the recent consolidation are buying again. One reason is the
resolution in Asian money centers late last week of uncertainty over
PLDT's preferred-share offering.
According to early market rumors, the $250 million offering would
comprise 10 million shares of $25 each, convertible 1-to-1 into common
shares after an unspecified lockup period. As a result, some investors
sold PLDT's common stock, which was trading in the U.S. at about $38,
planning to replace it with preferred shares, which will be listed as
Global Depositary Receipts on the Luxembourg stock exchange.
But PLDT President Antonio Cojuangco Jr. and other top executives
dispelled the rumors in meetings last week with investors in Tokyo, Hong
Kong and Singapore. The investors were told that the preferred shares will
be sold at a premium to the common to offset their higher dividend.
"In the long run, if you factor everything in, both issues are almost the
same," says an analyst who has studied the issue prospectus. "Investors
have realized that it is the same banana."
An investment banker who attended one of the meetings says the preferred
shares will likely be priced at a 10% to 15% premium to the common and pay
a 5.5% to 6% dividend, compared with average annual dividends of less than
1% on the common. In addition, there will be no lockup -- investors can
convert to common shares at any time -- while the company can force
conversion only after five years.
One sub-underwriter says the allocation his company requested had been
sharply trimmed, an indication that investor interest is high and that the
offering will likely be oversubscribed. In that case, PLDT can exercise a
"greenshoe option" that permits a 15% increase in the size of the
offering.
Exact terms are expected next week, after company executives visiting the
U.S. and Europe complete a 16-city roadshow in London on Friday. The lead
underwriter is Credit Suisse First Boston in Hong Kong.
With uncertainty about the preferred offering allayed late last week,
PLDT's common stock rose Monday to 1,010 pesos, up 4% from Friday's close.
The share price has since slipped due to volatility on Wall Street.
Barring further upsets in the U.S., analysts expect PLDT's upward trend to
resume and continue through the end of the year.
While many analysts are enthusiastic about the offering, some have
complained that the prospectus included too many "red marks" -- blanks for
terms that have yet to be set -- as a result of the offering being rushed
to market. Those unknowns could prompt some investors who would otherwise
seek the preferred stock to stick with the common, these analysts say.
Aside from worries about the preferred offering, the appreciation of the
peso this year that accelerated with full foreign-exchange liberalization
on Aug. 10 has dented PLDT's revenue and profits.
However, Mr. Choi, the Hong Kong fund manager, says the market has since
adjusted to the stronger peso and taken comfort in the central bank's
interventions since mid-September to prevent further appreciation.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120218
SUBJ: *Tokyo Stocks End Lower; Nikkei Down 146.64 Pts
- - 0218EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells BERRY PETROLEUM CO. Stock
ISSUER: BERRY PETROLEUM CO.
SYMBOL: BRY
FILER: BUSCH RALPH B JR
TITLE: Director.
SOLD: 9/30/92 2,500 13.00
OWNERSHIP: 1,527,472 Indirect Common Class I
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Malaysian Tin closed at 14.74 Dlrs per kilo Wednesday, down 22 cents.
-0- 14-10-92 Via KL 0425GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120604
SUBJ: SafeCard Sues IRS For `Warrantless' Searches
By Glenn Ruffenach
SafeCard Services Inc. has filed suit against agents of the Internal
Revenue Service, charging that the agents turned an accountant against the
company and conducted a "covert campaign of unconstitutional and
warrantless searches and seizures."
The suit, filed in U.S. District Court in Fort Lauderdale, Fla., marks
the latest skirmish in a four-year battle between the company and the IRS,
The Wall Street Journal reported. The offices of SafeCard, which notifies
credit-card issuers about lost or stolen cards, were searched by the IRS
in October 1988. But the company has maintained its innocence and argues,
in its suit, that the agency's actions have caused considerable damage to
SafeCard's business and reputation. The company, according to the suit,
has never been accused of any tax-law violations.
A spokesman for the IRS in Fort Lauderdale declined to comment on the
suit and refused to say whether the company is currently the subject of
any inquiry or investigation.
According to court documents, filed last Friday, Ernest A. Varvoutis III,
a tax accountant, was hired in May 1988 by Halmos & Co., which was owned
by Peter Halmos and Steven Halmos, brothers and co-founders of SafeCard.
Within two weeks of his hiring, according to the suit, Varvoutis told the
IRS that he suspected Halmos & Co. and the Halmoses of violating federal
tax laws. Over the next several months, Varvoutis allegedly provided the
IRS with documents from the company and met a second time with an IRS
agent.
At this second meeting, according to the suit, Varvoutis said he wanted
to resign from Halmos & Co. But the IRS, according to the suit, "persuaded
him to continue his employment in order to assist the IRS in a covert
investigation."
Accordingly, over the next month, Varvoutis allegedly provided the IRS
with financial documents, computer diskettes, insurance records, tax
returns and other information taken from Halmos & Co., the Halmoses and
SafeCard. In October 1988, the IRS obtained a warrant to search SafeCard,
which was then based in Fort Lauderdale.
Since the IRS search, however, SafeCard, according to the suit, has
continued to be suspected of wrongdoing by Wall Street analysts and
others. The suit seeks compensatory damages of at least $48 million and
punitive damages of $10 million.
Varvoutis, who did resign from Halmos & Co. just before the search, was
unavailable for comment yesterday. According to a second suit filed last
Friday by the Halmoses themselves against the IRS, Varvoutis has testified
that he "assisted the federal government" in their investigation of the
Halmoses and that his "actions were performed at the request of the
federal government."
An attorney representing the Halmoses, Stanley S. Arkin, of Chadbourne &
Parke in New York, declined to answer questions about the suit, other than
to say: "We stand by the complaint, and we can prove every bit of it."
In composite trading yesterday on the New York Stock Exchange, SafeCard,
now based in Cheyenne, Wyo., closed unchanged at $8.50.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120222
SUBJ: Headlines:Greenspan Says Global Price Stability Goal Near; Report
Says UK Ministers Considering Rate Cut; Treasurys Dn
-- Federal Reserve Chairman Greenspan said he and his global counterparts
may be close to achieving their goal of stable prices (see 4204).
-- Fed Chairman Greenspan also said the Federal Reserve Board's push to
reduce inflation has caused a drop in prices of some real assets, a
phenomenon that has hurt financial institutions (see 4203).
-- U.K. ministers are still considering the possibility of a big interest
rate cut soon, The Times of London reported (see 4210).
-- Credit supplied by intermediaries to the Australian private sector
rose 0.4% in August from July but fell 1.5% in the 12 months to August
(see 4201).
-- Salomon Brothers, taking its most dramatic step yet toward giving
greater local control to its overseas operations, will promote two
Japanese to lead its Asian subsidiary early next year (see 4202).
-- SEC Commissioner Breeden told Congress that securities firms generally
didn't experience severe losses on interest-only mortgage-backed
securities, but that "individual and institutional investors may have
suffered more serious losses" (see 4224).
-- The BOJ is buying 400 billion yen of Japanese government bonds through
two-month repurchase agreements to add that cash to the local money market
Tuesday (see 4038).
-- U.S. Treasurys are lower in Tokyo, with the long bond at 96-18, down
2/32 from New York late Tuesday (see 4041). Debt futures ended flat at the
CBT Tuesday evening, with the December bond at 103-18 (see 4101). Japanese
bonds are firmer (see 4153).
-- The dollar is flat to higher in Tokyo, at 121.10 yen and 1.4655 marks,
from 121.10 and 1.4640 in New York late Tuesday (see 4162).
-- Stocks in Tokyo ended the session lower, with the Nikkei down 146.64
at 17,344.03 (see 4159). Stocks in New York ended higher, with the DJIA up
27.01 at 3,201.42 late Tuesday (see 4116).
-- Gold is at $344.65 in Sydney, up from $344.25 in New York late
Tuesday.
SM
Dow Jones Capital Markets Report
(Copyright 1992 Dow Jones & Company Inc.)
(All Rights Reserved)
-0- 0222EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Temporary, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120730
SUBJ: PR NEWSWIRE LOS ANGELES-AREA DAYBOOK FOR WEDNESDAY, OCT. 14
EVENT: The seven members of the 1993 Tournament of Roses
Royal Court will be introduced in a prelude to the
announcement of the Rose Queen.
TIME: 9:30 a.m.
LOCATION: Tournament House
South Lawn
391 S. Orange Grove Blvd.
Pasadena
CONTACT: Caryn E. Eaves or Jennifer M. Johnson of Pasadena
Tournament of Roses Association, 818-449-4100; or Beth
Hill or Lynne Gray, Hill and Knowlton, 213-937-7460,
for Pasadena Tournament of Roses
EVENT: RTD officials and actor/environmentalist Ed Begley Jr.
will inspect a six-by-four foot model of a fuel cell
engine as RTD announces its selection of the first
public transit operator to test an in-service bus
powered by phospohoric acid fuel.
TIME: 10 a.m.
LOCATION: RTD Central Maintenance Facility
900 Lyon St.
Los Angeles
CONTACT: Greg Davy or Jim Smart of RTD, 213-972-4400
EVENT: Ten candidates for Congress and the California
Legislature will meet in a forum designed to explore
solutions to problems confronting local businesses and
the real estate industry.
TIME: 6:30 p.m.
LOCATION: San Fernando Valley Board of Realtors
7232 Balboa Blvd.
Van Nuys
CONTACT: David R. Walker of Walker Associates, 818-222-1335,
for the San Fernando Valley Board of Realtors
EVENT: Academy Award-winning Director Robert Wise will host a
California premiere exhibit for distinguished European
existentialist artist Ted Stevens.
TIME: 7 p.m.
LOCATION: International Student Center
1023 Hilgard Ave.
Westwood
CONTACT: Annabelle Stevens of Melrose Communications,
310-246-4611
19:40 EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys BOSTON SCIENTIFIC CORP. Stock
ISSUER: BOSTON SCIENTIFIC CORP.
SYMBOL: BSX
FILER: FELDMAN PETER M
TITLE: Beneficial owner.
PURCHASED: 9/23/92 400 18.75
OWNERSHIP: 3,700 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Asian Buyers Dominate Australian Hotel Sales Since 1991
SYDNEY -(AP-DJ)--Asian buyers have bought more than 85% of the 675
million Australian dollars worth of hotel property sold since January
1991, a survey by property consultants Jones Lang Wootton (JLW) TransAct
Pty. Ltd. has found.
In a statement Wednesday, JLW TransAct said Hong Kong investors
represented the major investment group, with purchases totalling 222.5
million AUS dlrs, or 32.9% of sales. This was followed by Japan, with
24.1% of sales worth 163 million AUS dlrs.
Indonesian investors spent 127.5 million AUS dlrs, accounting for 18.8%
of sales, while investors from Singapore represented 10.9% of sales,
spending 74.1 million AUS dlrs.
By contrast, Australian buyers represented 13.1% of total sales during
the period.
JLW TransAct's managing director, Peter Barge, said in the statement the
buyer profile in the hotel industry is expected to change over the next 12
months.
He said the Japanese are expected to become net sellers of property,
while their dominant position will be taken over by buyers from Indonesia
and Singapore. European buyers are also expected to come onto the market,
as well as investors from Taiwan and Korea.
Most of the properties sold were at the lower end of the price spectrum.
About 85% of sales were below 50 million AUS dlrs, the majority of which
were less than 20 million AUS dlrs.
Barge said that contrary to belief, most hotels sold during the period
didn't sell on the basis of their current yield, but on a perception of
value in the price paid per room.
-0- 0405GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Australian Housing Minister Sees Continuing Recovery
CANBERRA -(AP-DJ)--Brian Howe, Australia's Minister for Health and
Housing, said Wednesday that the recovery in the housing industry is
expected to continue, adding that forecasts might have to be revised
upward.
'It appears that the 152,000 commencements forecast by the Indicative
Planning Council in 1992/93 will be easily realized,' Howe said in a
statement.
Earlier, the Bureau of Statistics reported that the number of
housing-finance approvals rose a seasonally adjusted 8.3% in August from
July and jumped 23.3% from August 1991.
'Housing starts have risen for five consecutive quarters and are at their
highest level since September 1989,' Howe said.
'Home purchase is now the most affordable it has been for the past seven
years. Homebuyers can be confident that affordability will remain a top
priority under this government,' the minister added.
On the basis of data on both building approvals and housing finance, 'it
can be confidently stated that dwelling commencements will show another
rise in private-sector housing starts' in the quarter ended Sept. 30, Howe
said.
-0- 0417GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120604
SUBJ: Suit Claims Amex, Specialist Executed A Canceled Order
By Jonathan M. Moses
NEW YORK -- A Pennsylvania investment partnership charged that the
American Stock Exchange and one of its specialist firms carried out an
options order for American Airlines' parent company even though the order
had been canceled, The Wall Street Journal reported.
In a lawsuit filed in U.S. District Court here, Market Street L.P. cited
trading in October 1989 in options on AMR Corp. At the time, AMR was the
subject of takeover rumors that eventually proved false.
The lawsuit details a trail of harried securities trading that was driven
by those rumors. Market Street, based in Radnor, Pa., placed an order to
sell 500 put options in American Airlines stock. A put option on a
company's stock gives the buyer the right to sell company shares at a
given price. In Market Street's case, the put option allowed it to sell
the underlying AMR stock a month later at $85 a share. At the time, AMR,
which trades on the New York Stock Exchange, was trading at nearly $100 a
share. The order allegedly had gone unfulfilled for 50 minutes when Market
Street says it was canceled and replaced with an order to sell just 100
puts.
Market Street now alleges that the specialist firm in American Airlines
options, known as Aegis Specialist Joint Account, ignored the cancel order
and bought the 500 put options for its own account. Aegis -- jointly owned
by Englander Capital Corp., M.J. Weinburg & Co. and L. William Alter & Co.
-- made the purchase while it knew that trading in the underlying AMR
stock would be halted as a result of the rumors, the lawsuit contends. The
three firms are named in the suit.
When trading reopened, AMR stock had fallen well below the $85 strike
price. Market Street says it had a loss of $6 million as a result of the
first order not being canceled. It says it already has recovered through
arbitration $544,000 from the broker who placed the order, and is seeking
the rest, and punitive damages, from the specialist firm and the American
Stock Exchange.
A spokesman for the American Stock Exchange said it does not comment on
pending litigation. Martin Weinburg of M.J. Weinburg & Co. declined to
comment. Principals of the other two firms that made up Aegis could not be
reached to comment.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090016, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Publishers Give Mixed Reviews For 3rd Quarter --- Ad
Declines Have Slowed, But Profit Gains Are Tied To Operating-Cost Cuts
---- By Patrick M. Reilly Staff Reporter of The Wall Street Journal
SECTION: , ACCESSION: 199210090016
For major newspaper companies, a promising spring for advertising turned
into a lackluster summer. As a result, publishers are expected to report
mixed earnings for the third quarter.
As with most of the year, analysts say publishers with earnings gains are
being helped by lower operating costs, from soft newsprint prices and
smaller work forces, not from any significant leaps in revenues. Although
advertising declines have slowed considerably, some major papers, such as
Times Mirror Co.'s Los Angles Times, are still experiencing considerable
ad declines.
"Advertising linage trends are pretty sluggish," said James C. Goss, an
analyst with Duff & Phelps Inc. Added Kenneth T. Berents, of Alex. Brown &
Sons, "There was a more robust feeling last April in terms of the economy
and thus advertising. If the recovery that is under way were a heartbeat,
it may need a pacemaker now."
At the same time, several newspaper publishers have followed through with
promised hikes in newsstand and subscription price, such as Tribune Co.'s
Chicago Tribune, which went to 50 cents from 35 cents. The result: Several
publishers are seeing healthy increases in circulation revenues. Average
weekday readership of newspapers, however, remains largely flat -- at
about 63% of the country's adults.
Still, analysts believe any further significant earnings gains may be
hard to come by. "The earnings momentum of the first half has clearly
slowed," said Peter P. Appert, analyst with C.J. Lawrence. "Earnings
driven by lower costs takes you only so far. They (publishers) need an
improved revenue environment, which is getting stronger, but is (thus far)
insufficient to maintain the earnings recovery."
Among the strongest gainers was Dow Jones & Co., publisher of The Wall
Street Journal, which yesterday reported a 32% increase in earnings that
was attributable to higher advertising and circulation income, in addition
to cost savings.
Gannett Co., the country's largest newspaper publisher, based in
Arlington, Va., is expected to report earnings from continuing operations
ranging between 52 cents and 55 cents a share, compared with 42 cents in
the third quarter of 1991. Through August, Gannett's classified linage was
up 4%; total newspaper ad revenue was up 2.3%. Helped by Olympics-related
advertising, USA Today, Gannett's national newspaper, showed improvement,
with ad pages up 2.5% through August.
"Gannett's advertising levels are outpacing the industry," said C. J.
Lawrence's Mr. Appert. "Gannett's broad mix of papers, in big and smaller
markets, has served them well."
Miami-based Knight-Ridder Inc., hit by Hurricane Andrew, is expected to
report earnings in the range of 56 cents to 62 cents a share, compared
with last year's 54 cents.
Mr. Appert said Knight-Ridder has indicated that the hurricane shouldn't
have a "meaningful" effect, if any, on earnings. For several days after
the storm, circulation of the company's flagship paper, the Miami Herald,
was disrupted; the storm also damaged part of the company's executive
offices in Miami. But in the aftermath, the Herald received a flood of
storm-related advertising from insurance companies and other businesses.
Full-run ad linage was down through August at major market Knight-Ridder
papers, such as those in Miami, Detroit, Philadelphia and St. Paul, Minn.
For the period, full-run ad lineage at all Knight-Ridder papers was off
3%. But circulation revenue through August for the papers was up 6% over
the period last year, and total newspaper group revenue was up 1.5%.
Tribune Co., Chicago, is expected to show an earnings decline for the
quarter because of continued losses from its Canadian newsprint
operations. Analysts expect Tribune Co. to report fully diluted earnings
for the quarter ranging between 38 cents and 41 cents a share, compared
with 44 cents for the 1991 quarter.
C. J. Lawrence's Mr. Appert called the newsprint operation "nasty, with
no evidence newsprint prices will turn around soon." Tribune's loss for
the quarter from its paper operations is estimated at $13 million. Tribune
papers, however, are showing a rebound in classified advertising. In
August, classified revenue for the seven Tribune papers was up 9%, the
best year-over-year monthly comparison since late 1989. Tribune's TV
stations, showing an improving business for local advertising, were up 4%
in revenue through August.
Although Times Mirror, Los Angeles, has overcome the riots that rocked
its home city, it still struggles against a failing Southern California
economy. Several analysts expect Times Mirror to report per-share earnings
of between 32 cents and 36 cents a share, compared with 30 cents a year
ago. The trouble lies at the company's flagship Los Angeles Times, where
through August, full-run ad linage was down 6.1% and classified ads were
off 13.7%, compared with the year-earlier period. There are problems, too,
at Newsday, where full-run ad volume for the paper's Long Island and New
York City editions was down 8.2% through August, while classified volume
was off 11.5%.
"Times Mirror will disappoint many people," said Alex. Brown's Mr.
Berents. "California is still stuck in the economic mud." Several analysts
said they would reconsider earlier earnings estimates following the
company's announcement last month that due to unexpectedly weak ad revenue
at the Los Angeles Times, operating profits for the newspaper group would
fall "considerably" lower than the 1991 level. But analysts also noted
stronger performances are expected from Times Mirror's legal publishing,
magazine, and broadcasting areas.
At New York Times Co., analysts expect earnings for the quarter to be
about five cents a share, compared with three cents a share for last
year's quarter. Classified and retail ad linage at the flagship New York
Times was up in August. Earnings are expected to be affected by start-up
costs related to the opening of a color printing plant in Edison, N.J.
New York Times Co. said in August that the closing of its suburban
Atlanta newspaper, the Gwinnett Daily News, will result in a charge of 45
cents a share in the third quarter.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120224
SUBJ: TSE US T-Bond Futures End Lower Than Tuesday Session
Delivery Open Low High Close Change* CBT**
Dec 103-18 103-15 103-18 103-18 Down 8/32 103-18
The Tokyo Stock Exchange (TSE) estimated that 440 bond
futures contracts changed hands there Wednesday. The
Chicago Board of Trade (CBT) estimated that traders there
moved 7,500 contracts at its Tuesday evening session.
* The change is from the prior TSE session, Tuesday.
** This is the price at the end of the CBT's Tuesday
evening session.
-0- 0224EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120731
SUBJ: Report on new schedules presented to board
OAKLAND, Calif.--(BUSINESS WIRE)--BART officials Tuesday presented their
detailed analysis of the effects of the new, faster train schedules to the
board of directors at its Engineering and Operations Committee meeting.
The board asked for the report following implementation of the new
schedule.
``We went through some trying times that first month,'' said James
Gallagher, BART's assistant general manager for operations. ``But we
shook the bugs out and our on-time performance numbers have been
consistently above our normally acceptable standard. The `minutes of
delay' factor, for example, is well within the range that we've seen over
the past two years.''
On July 22, BART instituted the most significant changes in its train
schedules in a dozen years. The new schedules decreased travel time by
some 10 percent; made it possible to vastly improve train-to-train
transfers in the evenings by cutting the waiting time one-third, and
enabled BART to achieve operating efficiencies that translate into
increased passenger service.
Gallagher said tests conducted since the board of directors ordered a
review 60 days ago showed the trains' traction motors performing as they
were designed to perform and that the anticipated service improvements
have been implemented and are working successfully.
Meanwhile, on another front, BART has seen a 3.7 percent growth in
ridership above forecast since the new schedule went into effect.
CONTACT: Bay Area Rapid Transit, Oakland
Ron Rodriguez, 510/464-7139,
510/685-5633 (nights and weekends),
or 510/308-8632 (pager)
19:52 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120605
SUBJ: Administration - BNL Inquiry -2-: Metzenbaum Letter To Barr
Metzenbaum, in his letter to Barr, raised similar concerns about the
handling of the BNL case, mentioning "allegations that a CIA front
organization was involved in the loans to Iraq." If this is proved, he
wrote, "We would effectively be faced with a case of secret U.S.
government involvement in arms sales to Iraq, as well as a possible
cover-up."
The Justice Department, meantime, issued a statement relating to the
FBI's investigation of the delivery of incomplete CIA documents to the
Atlanta court. The statement said that there wasn't any disagreement
between the department and the FBI concerning the conduct of that
investigation. Barr instructed the FBI to conduct that inquiry, and the
FBI and the department prosecutors are "working closely as a team."
Meanwhile, further evidence is emerging of the Justice Department's
apparent unwillingness to pursue foreign nationals allegedly involved in
the billions of dollars of illicit bank loans. In a March 27, 1990, memo,
Ray Rukstele, U.S. attorney for Atlanta, said that following a Justice
Department review of the BNL case, Deputy Assistant Attorney General
Laurence Urgenson told him that he "did not feel there would be any merit
in interviewing Iraqi government officials."
To further complicate the matter, while the FBI investigates the
CIA-Justice Department handling of the BNL prosecution, the Justice
Department's office of professional responsibility is investigating
possible ethical violations by FBI Director William Sessions. Sessions
released a statement welcoming the inquiry and expressing confidence in
its outcome. The ethics investigation concerns allegations that Sessions
may have used a FBI plane and car for personal use and that an aide may
have abused her FBI authority.
In addition, the Justice Department inquiry is investigating allegations
that Sessions' wife tried to direct a $100,000 government contract to a
family friend, according to an Associated Press report. The contract at
issue covered the installation of a security system at the Sessions's home
in Washington.
---
Joe Davidson contributed to this article.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090017, Page:
SOURCE: WSJour
DATE: 199404120254
SUBJ: Money Fund Assets Advance $28.23 Billion
SECTION: , ACCESSION: 199210090017
WASHINGTON -- Money market mutual fund assets rose by $28.23 billion to
$597.33 billion from $569.10 billion in the week ended Wednesday, the
Investment Company Institute said.
Assets of 609 retail money market mutual funds rose $6.6 billion to
$386.32 billion, the trade group said.
Assets of 378 taxable money market funds in the retail category rose
$4.33 billion to $308.21 billion. Assets of 231 retail tax-exempt bonds
rose $2.26 billion to $78.11 billion.
Assets of the 274 institutional money market funds rose $21.64 billion to
$211.01 billion. Among institutional funds, the assets of 221 taxable
money market funds rose $19.95 billion to $189.40 billion. Assets of 53
tax-exempt funds rose $1.7 billion to $21.61 billion.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120229
SUBJ: Australian Housing-Finance Demand Waned In Sept, ABA Says
MELBOURNE -(AP-DJ)--Australian banks saw a "marginal"
reduction in demand for housing finance in September from
August, but the decline doesn't suggest the nation's
housing recovery has peaked, according to the Australian
Bankers' Association (ABA).
In a formal statement, the Association's Executive
Director Alan Cullen said Wednesday that "banks advise
some marginal easing in the level of commitments from the
strong August level in September, but no more than is
accounted for by month-to-month volatility."
"The latest figures don't indicate that the housing
recovery is topping out yet," Cullen said.
Cullen was commenting following news from the
Australian Bureau of Statistics that the number of
housing-finance approvals in Australia rose 8.3% in August
from July on a seasonally adjusted basis. The value of
housing-finance commitments rose 12.9% in August.
-0- 0229EDT
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090018, Page:
SOURCE: WSJour
DATE: 199404120254
SUBJ: REVIEW & OUTLOOK (Editorial): Darman's Bush
SECTION: , ACCESSION: 199210090018
To prepare President Bush for the debates, the role of Bill Clinton is
being played by White House Budget Director Richard Darman. This only
seems fair; Mr. Darman has already done so much to get Governor Clinton
elected.
That's the conclusion we draw after reading this week's four-part
Washington Post series by Bob Woodward. The series, which is the talk of
Washington, is transparently Dick Darman's attempt to set the tone of all
future histories of economic policy during the Bush years. Accordingly,
the articles cast the budget director as an heroic Henry V, but the effort
is so unsubtle that he ends up looking more like Richard III, the
mad-genius usurper. Mr. Bush is depicted, in one memorable insider quote,
as having the presence of "a log floating on the turbulent sea," while
Treasury Secretary Nick Brady is cast as Falstaff, without the sense of
humor.
The goings-on are leavened somewhat by Mr. Woodward's unflagging economic
credulousness. The nature and details of the policy disputes also aren't
new to readers of this page. But his anecdotal account is notable for what
it reveals about the character and competence of the men who made economic
policy in the Bush years. And along the way it reveals why voters seem
ready to deny Mr. Bush a second term.
Mr. Darman is described as believing from the very first that Mr. Bush's
1988 campaign promises were convenient lies. The OMB director fought
against including the "no-new-taxes" pledge in the acceptance speech, and
even before Inauguration Day was seeking a grand bargain with Congress to
raise taxes and cut entitlements. The villains of the piece are the
"political" types, such as Peggy Noonan and Roger Ailes, who believed in
the no-new-taxes pledge not merely as a way to win an election but as a
plank in a philosophy of government.
Now, even we might have considered accepting some sort of tax increase as
part of a budget deal that achieved something useful -- real spending
discipline, a line-item veto or a more productive capital-gains tax (if
any). Our problem with the Brady-Darman-Bush deal of 1990 was that it
traded tax increases three months into a recession for huge spending
increases, a judgment that two years' hard economic experience have only
borne out. The Mitchell-Gephardt Democrats simply outslicked the
Brady-Darman team.
Mr. Darman seems to understand this judgment of history, because in the
Woodward account he blames everyone else for his failure -- Newt Gingrich,
Congress, "conservatives," you name it. We are supposed to believe that
the failure lies not with those who ran the Bush policy but with those who
criticized it.
Mr. Bush, of course, called that deal a "mistake" earlier this year, a
decision Mr. Darman is reported to have called "sheer idiocy" in private.
He tells Mr. Woodward that he offered to resign shortly thereafter, but
Mr. Bush refused the offer. This week, when Mr. Bush was asked about the
"sheer idiocy" line on ABC's morning show, he called Mr. Darman "a good
man" and claimed he was "surrounded by a good team."
This is the same President who is trying to convince voters that his
second term will be different, which is to say better, than his first. Mr.
Darman, meanwhile, has gained power in the Bush White House. He is
briefing Mr. Bush on the debates and pops up on the talk shows as the
campaign's main economic spokesman. He leaks to friendly reporters that he
covets the Treasury post in a second term. And this week Mr. Bush declared
that Jim Baker, brought in as campaign chief of staff, will return to
State in a second term. Where is the concrete evidence, beyond rhetoric,
that anything would be different in a second Bush term?
Three weeks remain in this drama, and Mr. Bush isn't a corpse yet. But
one of his closest aides is already trying to write his own history of who
killed the Bush presidency. It is a sorry spectacle.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120231
SUBJ: Japan's Sept. Steel Output Falls 9.3% From Year Ago
TOKYO -(AP-DJ)--Japan's steel production in September
slipped 9.3% from the same month a year earlier to a
total of 8.07 million metric tons, the Japan Iron and
Steel Federation reported Wednesday.
The tempo of decline in steel output from year-earlier
levels in September was less than 10% for the first time
in 10 months.
Nonetheless, September marked the 14th month in a row
in which output remained below year-earlier levels. The
latest figure was the lowest level for September in five
years. In September 1987, steel production was 8.01
million metric tons, when the yen's strong appreciation
hurt exports by making Japanese steel products more
expensive in foreign currency terms.
The latest figure was unchanged from the previous
month's level.
Holding back the pace of growth in the nation's steel
output has been steel makers' ongoing efforts to curb
production in an attempt to tame inventories. Japan's
economic slowdown has cut into demand from weak sectors
such as the auto and electric machinery industries, thus
raising steel stockpiles.
With the latest figure factored in, Japan's steel
output in the July-September quarter came to 24.30
million metric tons, down 11% from a year earlier. The
latest quarter's output, the third in a row of
year-on-year decline, was in line with the official
forecast of 24.30 million metric made by the Ministry of
International Trade and Industry (MITI). The quarterly
figure was off 0.2% from a the previous quarter.
- - 0230EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys BEAUTICONTROL COSMETICS IN Stock
ISSUER: BEAUTICONTROL COSMETICS INC.
SYMBOL: BUTI
FILER: FOLSOM ROBERT S
TITLE: Director.
PURCHASED: 9/17/92 6,000 11.00
OWNERSHIP: 186,000 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120605
SUBJ: Strategy - Video-Game Makers -2-: Improved Games
In addition to the new low price on the 16-bit system, retailers say that
better 16-bit games have also boosted interest in the new products. (Game
cartridges for the 8-bit and 16-bit systems aren't compatible.) Software
engineers, having tinkered with the new systems for more than a year, now
have a better knowledge of their capabilities and have improved games
accordingly.
To video-game fans, that means greater excitement. Consider, for example,
Street Fighter II, a Capcom game for Nintendo's 16-bit system. It takes
six buttons to control each of the eight characters in the
knock-'em-sock-'em game. After Street Fighter II's introduction in June,
many retailers quickly sold out of initial shipments and have placed more
orders. Even though the game cartridge retails for $75 -- nearly as much
as the Nintendo game system -- Capcom now expects to sell 1.5 million
units, three times what it initially expected.
Nintendo and Sega both plan to spend millions of dollars promoting their
products between now and Christmas. In addition, Sega will introduce a
$300 CD-ROM-based video-game system next month with games that feature
live actors as well as cartoon characters.
Already retailers have asked Sega to step up shipments. "We were planning
on delivering 150,000 CD-ROM units. Now we'll be shipping 70,000 more,"
says Thomas Kalinske, president of Sega's U.S. unit, based in San
Francisco.
And Turbo Technologies Inc. will be introducing Turbo Duo, a CD-based
videogame system, also for $300, in time for holiday shopping.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140018, Page:
SOURCE: WSJour
DATE: 199404120406
SUBJ: OTC Focus: Nasdaq Shares Rise, but More Slowly Than Bigger
Issues; Clinton Plans Cited ---- By Sara Calian Staff Reporter of The
Wall Street Journal
SECTION: , ACCESSION: 199210140018
NEW YORK -- Over-the-counter stocks advanced more slowly than bigger
issues, in part because investors in smaller companies are more worried
about a possible Clinton presidency.
The Nasdaq Composite Index rose 2.60, or 0.45%, to 576.44, while the
biggest OTC stocks in the Nasdaq 100 Index increased a stronger 0.66%. The
Dow Jones Industrial Average jumped even more, rising 27.01, or 0.85%, to
3201.42.
For the most part, the stock market has adjusted to the possibility of a
Clinton presidency since Sunday night's debate among the three candidates,
said Mary Farrell, a market strategist at PaineWebber. But "the more you
analyze Clinton's economic program for more regulation, you see how it
particularly hurts small businesses."
She said that because small businesses don't have large economies of
scale, they are prone to be more burdened than larger companies from many
of Mr. Clinton's possible programs such as family-leave plans,
environmental regulations and health care programs.
Overall, the market has been rising for the past two days because many
investors are hoping for interest rate cuts in the near future either by
the U.S. Federal Reserve Board or the German Bundesbank, said Hedi
Reynolds, head of OTC trading at Morgan Keegan & Co.
Although there is positive sentiment among investors, Ms. Reynolds said
the low volume indicates that there isn't much buying enthusiasm. "The
volume is kind of anemic. There is some optimism, but no reason for
investors to be real aggressive," she said.
Total Nasdaq volume registered 167.5 million shares, up from Monday's low
holiday volume of 127.8 million shares. Advancing issues outnumbered
decliners, 1,241 to 1,095.
Much of the market's gain is due to a technical rally, said Lou Todd,
partner in charge of equity trading at J.C. Bradford & Co. "There was a
lot of bearishness built up during the last week, and we are now having a
good rally out of that."
Technology stocks have been leading OTC stocks for the past two days, Mr.
Todd said.
Microsoft increased 3/8 to 84 1/4. The software company reported earnings
of 70 cents a share for the first quarter, ended last month, up from 50
cents a share a year ago, and above the 68-cent mean estimate of analysts
surveyed by Institutional Brokers Estimate System.
Among other technology gainers, BMC Software rose 1 5/8 to 59, Legent
gained 1 to 44 and Symantec was up 1 to 8.
Apple Computer rose 1 3/8 to 45 3/8 after Shearson Lehman Brothers
upgraded its rating to "buy" from "outperform."
Not benefiting from the technology stock surge, Borland International
toppled 1 1/4 to 28. After the market closed, the Scotts Valley, Calif.,
software company reported second-quarter earnings of 20 cents a share,
compared with a loss of $4.21 a share a year ago. But Borland traded only
fitfully after the close, with about 12,000 shares shown at a price of 28
on Reuters Holdings' Instinet electronic trading system as of 4:45 p.m.
EDT.
John B. Sanfilippo & Son tumbled 3 1/8 to 16. The company said Monday
that it would post third-quarter earnings of about 26 cents to 30 cents a
share, down from 40 cents a share in the year-ago quarter. The Elk Grove
Village, Ill., marker of snack products said it "still anticipates a
record year in both sales and earnings."
Xircom slipped 3/4 to 9 1/4. The Calabasas, Calif., company said it
reduced the suggested retail price of its line of localarea network "LAN"
adapters, making simple LAN connectivity more affordable to
portable-computer users. The company said the price reductions on the LAN
adapters are effective immediately, with prices lowered an average of 11%
on its pocket LAN adapters and 15% on external LAN adapters.
Sierra Semiconductor plunged 1 3/4 to 11 3/4. The San Jose, Calif.,
company reported third-quarter earnings of 19 cents a share, below the
mean estimate of 25 cents a share provided by I/B/E/S. It had year-ago net
of 38 cents a share.
Whole Foods Market climbed 3 1/4 to 21 1/2 after the Austin, Texas,
company said it purchased Bread & Circus, a closely held natural foods
supermarket chain based in Boston. The purchase price comprises newly
issued Whole Foods common stock valued at about $6.2 million and $20
million in cash.
Caere surged 2 1/2 to 32 3/4. The Los Gatos, Calif., company reported
third-quarter earnings of 37 cents a share, up from 20 cents a share a
year earlier. Earnings were above the mean earnings estimate of 31 cents a
share provided by I/B/E/S.
Lattice Semiconductor climbed 3/8 to 21 1/8. The Hillsboro, Ore., company
reported earnings for the second quarter, ended Sept. 26, of 33 cents a
share, up from 23 cents a share, a year earlier. The results were also
higher than the mean I/B/E/S estimate of 29 cents a share.
First Financial Corp. jumped 2 1/4 to 17 1/2. The Stevens Point, Wis.,
saving bank holding company reported earnings for the third quarter of 65
cents a share, up from last year's 43 cents a share.
Digital Microwave slid 1 to 6 3/4. The San Jose, Calif., company said
lower-than-expected revenue will result in a loss for its second quarter,
ended Sept. 30. In the year-ago second quarter, Digital Microwave had a
loss of 25 cents a share. The company said it released existing customer
orders more slowly than expected in the quarter. The company, which makes
microwave radio and fiber-optic communications products, also said it took
additional inventory and warranty reserves in the quarter. The company
said Douglas H. Morais has resigned as president and chief operating
officer. The company said Mr. Morais "indicated that he plans to pursue
other business interests."
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090019, Page:
SOURCE: WSJour
DATE: 199404120254
SUBJ: Technology: Alzheimer's Study Points to a Benefit From Brain
Chemical
SECTION: , ACCESSION: 199210090019
BOSTON -- Scientists here reported a study suggesting that drugs based on
a chemical messenger in the brain might slow the metabolic process
underlying Alzheimer's disease.
Other Alzheimer's disease researchers, however, cautioned that further
studies will be needed to establish that such drugs would work as hoped in
slowing the fatal brain disorder.
The study, by researchers at Massachusetts Institute of Technology and
Massachusetts General Hospital, connects two longstanding lines of
research on Alzheimer's disease. One line centers on acetylcholine, a
compound that carries signals between nerve cells in memory-forming areas
of the brain that are particularly hard hit by Alzheimer's disease. The
other focuses on beta amyloid, a protein that is formed by the breakdown
of a larger precursor protein in the brain and that seemingly does much of
the harm to nerve cells caused by Alzheimer's disease.
In test tube studies reported in today's issue of the journal Science,
the Boston team found evidence that acetylcholine promotes the normally
occurring breakdown of the amyloid precursor protein in neurons in a good
way -- one that doesn't lead to formation of beta amyloid. Thus, drugs
that mimic acetylcholine's action in the brain may block the buildup of
harmful amyloid deposits, effectively stopping the Alzheimer's disease
process in its tracks, said Richard Wurtman, one of the MIT researchers.
But just because such drugs may stimulate benign breakdown of the amyloid
precursor doesn't necessarily mean they will block the alternative
breakdown "pathway" that forms beta amyloid and apparently causes brain
damage, said Dennis Selkoe, a researcher at Boston's Brigham and Women's
Hospital. To resolve such questions, the Boston team is now testing
whether compounds mimicking acetylcholine actually slow formation of beta
amyloid, said MIT's Dr. Wurtman.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120231
SUBJ: *Japan's Sept. Trade Surplus With U.S. 4.84 Billion Dlrs, Up From
4.58-Billion-Dlr Surplus A Year Earlier
- - 0231EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120232
SUBJ: *Japan Posts 52.46-Billion Dlr Trade Surplus In 1st Fiscal Half, Up
From 39.68-Billion Dlr Surplus A Year ago
- - 0231EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CALIFORNIA AMPLIFIER INC. Stock
ISSUER: CALIFORNIA AMPLIFIER INC.
SYMBOL: CAMP
FILER: HALL BARRY W
TITLE: Chairman of the board.
SOLD: 9/24/92 10,000 9.00
OWNERSHIP: 40,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: *Closing Taipei Stock Price Index: 3633.22 (3602.96)
(1991 ended at 4600.67)
-0- 0421GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120607
SUBJ: Canadian Dollar Ends Higher
TORONTO -DJ- The Canadian dollar closed at 80.42 cents (U.S.), up from
80.03 cents Friday.
5:04 PM
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090021, Page:
SOURCE: WSJour
DATE: 199404120254
SUBJ: Who's News: Sierra Pacific Resources
SECTION: , ACCESSION: 199210090021
SIERRA PACIFIC RESOURCES (Reno, Nev.) -- John E. Taulbee, chief financial
officer of this energy and resource company, was named to the additional
position of senior vice president, a post that had been vacant. Richard
Fortmann, president of Sierra Resources' Sierra Energy Co. unit, was named
to the additional post of senior vice president of strategic planning and
administrative services, a new post.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120232
SUBJ: *Japan's 1st-Half Trade Surplus With U.S. 21.16 Billion Dlrs, Up From
17.37-Billion-Dlr Surplus A Year Earlier
- - 0232EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120733
SUBJ: GROUP LAUNCHES CAMPAIGN ACROSS CANADA TO HIGHLIGHT 500 YEARS OF
NATIVE STRUGGLE, SPECIAL FOCUS ON GUATEMALA: DEVELOPMENT AND PEACE
TORONTO, Oct. 13 /CNW/ - As the world marks the 500th anniversary of the
``discovery'' of the Americas and ponders what befell native people in its
wake, Canadians are being urged to join a national action to back efforts
by native people in Guatemala to regain their land and end years of
repression.
The campaign is called ``FROM DOMINATION TO LIBERATION''. It has been
launched by DEVELOPMENT AND PEACE, the international Catholic development
agency which supported over 10,000 projects in 60 countries in 25 years.
It's the third campaign in as many years in the DEVELOPMENT AND PEACE
program, ``Rebuilding the Americas'', which has examined the staggering
debt load of poor countries and the wretched conditions trapping millions
in big city slums in the Americas. This year's focus is native people's
efforts to end the effects of 500 years of colonization, and their
struggle for their rights.
People are being asked by DEVELOPMENT AND PEACE to send a message of
support to the National Council of Displaced Peoples of Guatemala. Almost
entirely indigenous, it is demanding that land seized be returned and for
an end to all military control of native communities.
Some 1.5 million mostly native people are now homeless, another 45,000
live in UN refugee camps in southern Mexico, and some 200,000 others have
fled to Mexico, Canada, Europe, Australia, and the U.S.
/For further information: JACK PANOZZO, 416-698-7770/
19:49 ET
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CALIFORNIA AMPLIFIER INC. Stock
ISSUER: CALIFORNIA AMPLIFIER INC.
SYMBOL: CAMP
FILER: SCHWAB DENNIS
TITLE: Officer.
SOLD: 9/24/92 15,000 9.25
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Polls After US Vice-Presidential Debate Favor Democrat Gore
NEW YORK -(AP-DJ)--Viewers polled after the U.S. vice presidential debate
Tuesday night reacted more favorably to Bill Clinton deputy Senator Al
Gore than to his two opponents, but there was no evidence he won any votes
for his ticket.
A poll for 'Dateline NBC' found 50 pc of viewers thought Democrat Gore
did the best job in the debate, 32 pc lked Republican Vice President Dan
Quayle and just 7 pc gave top rank to the independent candidate Admiral
James Stockdale.
An ABC News poll asked who won, and Gore barely edged out Quayle, 38 pc
to 35 pc, with 17 pc calling it a tie and 2 pc saying Stockdale. The
separation between Gore and Quayle was within the polls' margin of
sampling error of 4.5 percentage points.
ABC called 624 registered voters who already had been polled Sunday and
Monday on their presidential preference. Fewer were undecided after the
debate, but the standings did not change much: 47 pc for Bill Clinton, up
one point, 38 pc for President George Bush, up three points and 12 pc for
Ross Perot, unchanged.
-0- 0424GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120607
SUBJ: Dollar Closes Mixed In NY; At DM 1.4640, 121.10 Yen
NEW YORK -DJ- The dollar was mostly lower in quiet range trading as an
absence of fresh news kept the market fixated on Federal Reserve Board
Chairman Alan Greenspan's weekend comments.
In a rare press conference Saturday, Greenspan said the Nov. 3
presidential election wouldn't stand in the way of an interest rate cut,
if needed. Since the Columbus Day holiday yesterday shut down most banks
and businesses, today was the first opportunity many U.S. participants had
to react to the remarks.
Late in New York, the dollar was quoted at 1.4640 Deutsche marks, down
from 1.4685 at yesterday's close. The dollar also was changing hands at
121.10 yen, up from 120.85. Sterling was trading at $1.7160, up from
$1.7080.
In the more active cross, or non-dollar, trading, short-covering again
bolstered sterling against the mark, but observers see sterling resuming
its decline on the bearish outlook for U.K. interest rates.
The mark, meanwhile, gained on the Swiss franc as short-term interest
rates in Switzerland continue to soften.
Against the mark, the dollar was particularly weighed down by Greenspan's
remarks, which appeared to rebut last week's news reports that ruled out a
pre-election Fed easing. With little else to focus on, traders said the
market continued to feed off Greenspan's comments.
Dealers said many players are awaiting Thursday's meeting of the Deutsche
Bundesbank's policy-setting Central Bank Council to see what, if any,
monetary signals the German central bank sends ahead of this weekend's
summit of European Community leaders in Birmingham, England.
5:08 PM
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120736
SUBJ: U.S. SUPREME COURT ISSUES A SECOND MAJOR RULING IN FAVOR OF
INDEPENDENT SERVICE ORGANIZATIONS
SAN FRANCISCO, Oct. 13 /PRNewswire/ -- For the second time in four
months, the United States Supreme Court has issued a major ruling in favor
of independent service organizations bringing antitrust suits against
manufacturers of complex durable equipment. Virtual Maintenance Inc., one
of the leading members of Independent Service Network International
(ISNI), the largest trade organization of independent computer and medical
equipment maintainers, has today prevailed in its petition to the Supreme
Court to vacate an appellate court decision which had taken away from
Virtual the $25.3-million verdict which it obtained against Prime Computer
Inc. in October 1990.
The earlier Supreme Court decision, Eastman Kodak Co. v. Image Technical
Service, et al., held last June that the antitrust laws could apply to
aftermarkets, such as the maintenance of complex durable equipment like
copiers or computers. That case, however, had been decided by a judge in
a summary judgment proceeding before a jury trial could occur. The
Supreme Court sent it back to the trial court for a jury trial, which has
still not yet occurred.
In contrast, the Virtual case has gone through a full jury trial.
therefore, the Virtual case goes a step beyond Kodak because no further
trial need occur. The Supreme Court sent the Virtual case back to the
appellate court, not the trial court, so that the appellate court can
reconsider its now vacated decision in light of the Kodak opinion.
Both Kodak and Virtual involved an antitrust practice called tying. Kodak
required purchasers of its unique spare parts also to purchase photocopier
maintenance from Kodak, that is, Kodak "tied" maintenance purchases to
spare parts purchases. Prime required purchasers of its unique software
updates also to purchase computer maintenance from Prime.
"We are delighted that one of our members has had the courage and energy
to fight this case through to the Supreme Court," said Claudia Betzner,
executive director of the ISNI. "This decision shows that the Kodak case
was not a fluke and that our legal system will protect service companies
in competition with manufacturers."
ISNI's general counsel, Ronald S. Katz of the law firm of Coudert
Brothers, stated that "These two major decisions preserve competition in
aftermarkets. Because most economic activity now occurs in aftermarkets
-- like blades for razors, film for cameras, or service for computers or
cars -- these opinions will have a tremendous positive impact on our
economy.
/CONTACT: Claudia Betzner, executive director of the ISNI, 404-816-1610,
or Ronald S. Katz of Coudert Brothers, 415-986-1300, for ISNI/
19:49 EDT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120032
SUBJ: Taipei Shares Rise 30 Points To 3633; Very Light Turnover
TAIPEI -(AP-DJ)--Taiwan share prices were higher Wednesday in extremely
thin trading, hitting a new record low for turnover value for this year.
The market's weighted index rose 30.26 points to close at 3633.22,
following Tuesday's even performance.
Turnover inched down to 233 million shares valued at 9.20 billion New
Taiwan dlrs from Tuesday's 254 million shares worth 10.2 billion NT dlrs.
Wednesday's turnover value was the lowest this year, breaking the previous
low of 9.72 billion NT dlrs set on September 24.
Gainers overwhelmed losers by a margin of 224 to 16, while 51 companies
ended unchanged.
Food and electrical stocks turned in the day's best gains, followed by
plastic, textile, construction and cement counters.
The market opened up 21 points, and then range-traded narrowly between
3616 and 3649 points.
- - 0431GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120631
SUBJ: This Is A Test From The Dow Jones News Service
6:30 AM
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Temporary, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120737
SUBJ: 1992 International Electric Grand Prix, Oct. 15-18
--(BUSINESS WIRE)--
WHAT: THREE-DAY ROAD RALLY stretches over 120 miles -- through 26
cities, from Long Beach to San Bernardino.
THE EXPO. Spectators -- car buffs, enthusiasts, friends of the
earth and families -- can see road tests and visit the free
alternative energy exposition, car display and more.
WHEN &
WHERE: ROAD TEST & EXPO ON THURSDAY, OCT. 15, Veterans Memorial Stadium
in Long Beach at the corner of E. Carson Street & Clark Avenue
Registration, 8 a.m. - 2 p.m.
Scrutineering, 8:30 a.m. - 5:30 p.m.
Qualifying/Acceleration, 9 a.m. - 6 p.m.
Solar Model Car Race, noon
Electrathon Race, 1:30 p.m.
EXCELLENT DAY FOR INTERVIEWS, CAR DEMOS, ETC.
-- DAY ONE: FRIDAY, OCT. 16, VETERANS STADIUM TO SANTA MONICA
COLLEGE
9:30 a.m. Opening Ceremonies
10 a.m. Rally Begins
10:45 a.m. Midway Press Stop at Hughes, Torrance Airport
(Skypark Drive at Crenshaw, Torrance)
11:30 a.m. Rally Cars Start Arriving at Santa Monica College
(Pearl Street & 17th)
Noon Solar Model Car Race
1:30 p.m. Electrathon Race
PHOTO OPPORTUNITIES/OVERHEAD SHOTS/HELICOPTER FLY-BYS
-- DAY TWO: SATURDAY, OCT. 17, SANTA MONICA TO PASADENA
ROSE BOWL
10 a.m. Car Rally Starts at Santa Monica College
10:45 a.m. Midway Press Stop at Universal Studios
(SW corner of Barham & Forest Lawn)
11:30 a.m. Rally Cars Start Arriving, Parking Lot K
(W. Drive & Arroyo Seco)
Noon Solar Model Car Race
1:30 p.m. Electrathon Race
-- DAY THREE: SUNDAY, OCT. 18, ROSE BOWL TO THE NATIONAL
ORANGE SHOW STADIUM IN SAN BERNARDINO
8 a.m. Car Rally Begins at Pasadena Rose Bowl
9:45 a.m. Midway Press Stop at Harvey Mudd College
(Foothill Boulevard at Mills, Claremont)
11 a.m. Solar Model Car Race
11:30 a.m. Rally Cars Start Arriving, Gate 10, 689 South `E'
Street
Noon Electrathon Race
4 p.m. Award Ceremony
-- ONGOING EXHIBITS EVERY DAY FROM 11 A.M. - 6 P.M.
Thursday at Long Beach, Friday in Santa Monica, Saturday in
Pasadena and Sunday in San Bernardino
10 a.m. - 6 p.m. Exhibitors & Vendors
10 a.m. - 6 p.m. Ride & Drive
10 a.m. - 6 p.m. Conversion Demo
10 a.m. - 6 p.m. Kiddie Car Derby
WHY ARE WE DOING IT? ``We need to jump-start this industry. State law
says that 2 percent of all 1998 cars sold in California must be zero
emission vehicles -- electric cars. That's 35 to 40 thousand cars in less
than 6 years,'' says Peter Quinn Hackes, executive director.
The 1992 International Electric Grand Prix is sponsored by: Cal State
Long Beach, California Department of Transporation, California Energy
Commission, CALSTART, City of Pasadena, Electric Vehicle Association of
Southern California, Graybar Electric Co. Inc., Green Motor Works, I Won
Motronics Institute, L.A. Cellular, Lockheed, Los Angeles Department of
Water and Power, National Orange Show, Ogilvy & Mather, Pasadena Water and
Power Department, Santa Monica College, Solar Electric Engineering, South
Coast Air Quality Management District, Southern California Edison, TRW,
Trojan Battery, U.S. Department of Energy, Southern California Gas Co. and
others.
CONTACT: Barbara Hodgson, 310/276-6232
213/706-1840 (cellular phone)
or
IEGP Headquarters, 818/565-5519
20:10 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys CAMBEX CORP Stock
ISSUER: CAMBEX CORP
SYMBOL: CBEX
FILER: LONG GORDON T
TITLE: Officer.
PURCHASED: 9/1/92 1,000 11.50
OWNERSHIP: 2,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 180 Days
Dow Jones News/Retieval
Dow Jones News/Retieval
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120717
SUBJ: Dow Jones News Service Codes -- Industries A-C
Advertising I/ADV
Aerospace & Defense I/ARO
Air Freight/Couriers I/AIF
Airlines I/AIR
Aluminum I/ALU
Apparel Makers I/TEX
Apparel Retailers I/SAP
Appliances I/HMF
Automobile Manufacturers I/AUT
Automotive Parts & Equipment I/AUP
Banks (All) I/BNK
Banks -- Central I/BAC
Banks -- East I/BAE
Banks -- Major International I/BAN
Banks -- Regional (All) I/BAR
Banks -- South I/BAS
Banks -- West I/BAW
Beverages (All) I/BVG
Beverages -- Distillers & Brewers I/DST
Beverages -- Soft Drink I/SFT
Brewers I/DST
Building Materials I/BLD
Casinos I/CNO
Chemicals I/CHM
Commodity Chemical I/CHC
Specialty Chemical I/CHS
Coal I/COA
Communications Technology I/CMT
Computers I/CPR
Conglomerates I/CGL
Consumer & Household Products &
Services (All) I/HOU
Consumer & Household
Products (Only) I/HPR
Consumer & Household Products,
Non-durable I/HPN
Consumer & Household Products,
Durable I/HPD
Consumer & Household
Services (Only) I/CSV
Consumer & Household Products
& Services -- Tobacco I/TOB
Containers & Packaging I/CTR
Cosmetics/Personal Care I/COS
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120233
SUBJ: RPT:Japan's Sept. Steel Output Falls 9.3% From Yr Ago
TOKYO -(AP-DJ)--Japan's steel production in September
slipped 9.3% from the same month a year earlier to a
total of 8.07 million metric tons, the Japan Iron and
Steel Federation reported Wednesday.
The tempo of decline in steel output from year-earlier
levels in September was less than 10% for the first time
in 10 months.
Nonetheless, September marked the 14th month in a row
in which output remained below year-earlier levels. The
latest figure was the lowest level for September in five
years. In September 1987, steel production was 8.01
million metric tons, when the yen's strong appreciation
hurt exports by making Japanese steel products more
expensive in foreign currency terms.
The latest figure was unchanged from the previous
month's level.
Holding back the pace of growth in the nation's steel
output has been steel makers' ongoing efforts to curb
production in an attempt to tame inventories. Japan's
economic slowdown has cut into demand from weak sectors
such as the auto and electric machinery industries, thus
raising steel stockpiles.
With the latest figure factored in, Japan's steel
output in the July-September quarter came to 24.30
million metric tons, down 11% from a year earlier. The
latest quarter's output, the third in a row of
year-on-year decline, was in line with the official
forecast of 24.30 million metric made by the Ministry of
International Trade and Industry (MITI). The quarterly
figure was off 0.2% from a the previous quarter.
- - 0233EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120739
SUBJ: FRUIT OF THE LOOM AND GOVERNOR FORDICE ANNOUNCE 1,000 NEW JOBS AT
GREENVILLE, MISSISSIPPI FACILITY
CHICAGO, Oct. 13 /PRNewswire/ -- William Farley, chairman and chief
executive officer of Fruit of the Loom Inc. (AMEX: FTL) and Gov. Kirk
Fordice, today announced details of the company's acquisition of the
former Vlasic Foods facility in Greenville, Miss.
The company entered into a tentative agreement in May 1992 for the
purchase of the 253,000 sq. ft. facility, pending the outcome of an
environmental study. That study successfully completed, renovation has
begun, including a 40,000 sq. ft. addition. Fruit of the Loom will invest
$40 million in the facility in new equipment.
Approximately 1,000 employees will be hired over the next two years for
knitting, dyeing, finishing and sewing production, generating a payroll in
excess of $15 million. Several sewing units were installed and operations
commenced Monday, Oct. 5.
"We are very pleased with the quality workforce in Mississippi and the
strong leadership, exhibited by state and local officials," said William
Farley. He added, "These factors have allowed us to grow our presence in
the state to produce the clothes America loves best. We are encouraged
that the growing demand for our entire product line enables us to expand
our manufacturing operations and create jobs for American workers."
"This is a proud moment not only for the people of Greenville and
Washington County, but for the entire Delta region," said Mississippi Gov.
Kirk Fordice. "These 1,000 jobs are a great boost to the area's
employment and economy, and where is it more appropriate for Fruit of the
Loom to locate its latest facility, than in the heart of the cotton
growing region. We are delighted that the company chose to expand its
Mississippi operations."
Gov. Fordice and Bill Farley were joined at the announcement by John
Holland, president and chief operating officer, Fruit of the Loom; Jack
Moore, president, Fruit of the Loom; John Waldrop, vice president
manufacturing, Fruit of the Loom; Harper Young, president, Industrial
Foundation; Harry Vickery, president-elect, Industrial Foundation; Frank
Self, mayor, City of Greenville; Jamie McGowin, president, Washington
County Board of Supervisors; Jimmy Heidel, director, Department of
Economic and Community Development; Charlie Bevil, chairman, Economic
Development District; Jerry Hafter, president, Greenville Area Chamber of
Commerce and Tommy Hart, executive director, Industrial Foundation of
Washington County.
Fruit of the Loom, with its operating headquarters in Bowling Green, Ky.,
employs approximately 1,250 people in Mississippi, including 1,200 at its
facility in Batesville and 50 in Sherman, Miss.
Fruit of the Loom is a leading global manufacturer and marketer of
quality activewear and casualwear for the imprinted and retail market,
men's and boys' underwear and women's and girls' underwear. The company
employs over 30,000 people in over 45 locations worldwide. Principal brand
names include "FRUIT OF THE LOOM(R), BVD(R), SCREEN STARS(R) and
MUNSINGWEAR(TM). The company is also a leading manufacturer of infants'
and toddlers' underwear and family socks, using the FRUIT OF THE LOOM
brand name. All Fruit of the Loom products are "unconditionally
guaranteed."
/CONTACT: Pamela L. Webber, 312/993-1815 or Mark A. Steinkrauss,
312/993-1889, both of Fruit of the Loom Inc.; Hermine McLarty, Department
of Economic and Community Development, 601/359-3449/
20:14 EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CHATTEM INC. Stock
ISSUER: CHATTEM INC.
SYMBOL: CHTT
FILER: BOSWORTH ROBERT E
TITLE: Officer and director.
SOLD: 9/24/92 10,000 30.25
OWNERSHIP: 329,700 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CHATTEM INC. Stock
ISSUER: CHATTEM INC.
SYMBOL: CHTT
FILER: GUERRY JOHN P
TITLE: Officer.
SOLD: 9/10/92 80,000 27.50
OWNERSHIP: 90,414 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120038
SUBJ: Unified Korea's Energy Dependency Would Drop To 63%:Report
SEOUL-(AP-DJ)--South Korea's Energy-Resources Ministry said Wednesday
unification of South and North Korea will lower external energy dependency
sharply if it happens now.
According to a report by the ministry to the National Assembly, a unified
Korea's external energy dependency will decrease to 62.7% from 91.3% last
year if unification of the divided South and North Korea takes place now.
The report said North Korea has coal resources nine times larger than
South Korea, including 11.7 billion tons of anthracite and 3 billion tons
of bituminous coals. The alleviation of energy dependence will be also
helped by North Korea's water power stations.
The report, however, said the unified Korea will have to depend on
imported gas and petroleum because North Korea is currently using coal for
transportation and there are no sources on the peninsula.
According to the report, North Korea's energy structure is simple. Three
sectors - coal, water power and petroleum and coal - accounted for 84% of
total energy consumption.
North Korea's foreign energy dependency was 13.8% with petroleum
accounting for 9.3%, which compared with the South's external energy
dependency of 85.5% and and petroleum dependency of 49.6%.
The report said North Korea has been making active moves to find gas and
petroleum with technology assistance from the Commonwealth of Independence
States and Romania but did not show any success.
North Korea's total energy consumption amounted to 38.11 million ton
equivalents in 1989, about 47% of that of South Korea, said the report.
-0- 0438GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 180 Days
Dow Jones News/Retieval
Dow Jones News/Retieval
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120717
SUBJ: Dow Jones News Service Codes -- Industries D-I
Drug-Based Retailers I/RTD
Electric Utilities I/ELC
Electric Utilities, East I/UEE
Electric Utilities, South I/UES
Electric Utilities, Central I/UEC
Electric Utilities, West I/UEW
Electrical Components & Equipment I/ELQ
Entertainment & Leisure (All) I/ENT
Entertainment & Leisure -- Casinos I/CNO
Entertainment & Leisure --
Recreational Products & Services I/REC
- Movies I/MOV
- Toys I/TMF
- Other Recreational Products I/REQ
Entertainment & Leisure
-- Restaurants I/RES
Factory Equipment I/FAC
Farm Equipment I/MAC
Financial Services -- Diversified I/FIS
Food I/FOD
Food Retailers & Wholesalers I/FDR
Forest Products I/FOR
Furniture & Fixtures I/HMF
Gambling I/CNO
Gas Utilities I/GAS
Health Care Providers I/HEA
Heavy Construction I/CON
Heavy Machinery I/MAC
Home Construction I/HOM
Home Furnishings & Appliances I/HMF
Industrial & Commercial Services
(All) I/SVC
Industrial & Commercial Services --
General Services I/ICS
Industrial & Commercial Services --
Pollution Control I/POL
Industrial -- Diversified I/IDD
Industrial Technology I/ITC
Insurance (All) I/INS
Insurance -- Full Line I/INF
Insurance -- Life I/INL
Insurance -- Property & Casualty I/INP
Iron & Steel I/STL
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120236
SUBJ: Japan Govt Bond Futures End Higher; Dec 10Yrs Up 0.08
10-Year Govt Bond Futures
Open High Low Close Change
Dec 92 106.45 106.51 106.40 106.41 Up 0.08
March 93 105.81 105.96 105.81 105.95 Up 0.19
20-Year Govt Bond Futures
Dec 92 100.70 100.80 100.70 100.80 Up 0.10
- - 0235EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120237
SUBJ: *Hong Kong Gold At $344.65
-0- 0236EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CHATTEM INC. Stock
ISSUER: CHATTEM INC.
SYMBOL: CHTT
FILER: GUERRY ZAN
TITLE: President.
SOLD: 9/10-24/92 90,000 27.50-30.25
OWNERSHIP: 428,199 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 180 Days
Dow Jones News/Retieval
Dow Jones News/Retieval
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120718
SUBJ: Dow Jones News Service Codes -- Industries L-R
Land Transportation Equipment I/LDT
Lodging I/LOD
Machinery I/MAC
Marine Transportation I/MAR
Media I/MED
Media, Broadcasting I/BRD
Media, Publishing I/PUB
Medical & Biological Technology I/MTC
Biotechnology I/BTC
Advanced Technology Devices I/MDV
Medical Supplies I/MDS
Mining I/MNG
Non-Ferrous Metals (All) I/NFR
Non-Ferrous Metals -- Aluminum I/ALU
Non-Ferrous Metals -- Other I/ONF
Office Equipment I/OFF
Oilfield Equipment & Services
(All) I/OIE
Oilfield Equipment & Services
Oil Drilling I/DRL
Oilfield Equipment & Services
Other (Excludes Drilling) I/EQS
Oil -- Integrated Majors I/OIL
Oil -- Secondary I/OIS
Paper Products I/PAP
Personal Care I/COS
Petrochemicals I/CHM
Pharmaceuticals I/DRG
Pipelines I/PIP
Plastics I/CHM
Precious Metals I/PCS
Railroads I/RAI
Real Estate Investment I/REA
Restaurants I/RES
Retailers -- Broadline I/RTB
Retailers -- Specialty (All) I/RTS
Retailers -- Specialty Apparel I/SAP
Retailers -- Specialty Other
(Excludes Apparel, Drugs) I/OTS
Retailers & Wholesalers --
Specialty Drug-Based I/RTD
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 180 Days
Dow Jones News/Retieval
Dow Jones News/Retieval
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120718
SUBJ: Dow Jones News Service Codes -- Industries S-Z
Savings & Loans I/SAL
Securities Brokers I/SCR
Semiconductors & Related I/SEM
Shipbuilders I/SHP
Soft Drinks I/SFT
Software I/SOF
Steel I/STL
Technology - Diversified I/DTC
Telephone Systems I/TLS
Regional Telephone Systems I/RTL
Long Distance Telephone Systems I/LDS
Mobile Communication Systems I/CTS
Textiles & Apparel I/TEX
Footwear I/FOT
Clothing and Fabrics I/CLO
Tire & Rubber I/AUP
Tobacco I/TOB
Transportation Equipment (All) I/TRQ
Transportation Equipment -- Land I/LDT
Trucking I/TRK
Waste Management I/POL
Water Utilities I/WAT
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140020, Page:
SOURCE: WSJour
DATE: 199404120406
SUBJ: Key Interest Rates
SECTION: , ACCESSION: 199210140020
Annualized interest rates on certain investments as reported by the
Federal Reserve Board on a weekly-average basis:
Week Ended:
Oct. 9, Oct. 2,
1992 1992
Treasury bills (90 day)-a 2.76 2.69
Commrcl paper (Dealer, 90 day)-a 3.16 3.24
Certfs of Deposit (Resale, 3 month) 3.09 3.10
Certfs of Deposit (Resale, 6 month) 3.10 3.11
Federal funds (Overnight)-b 3.20 3.41
Eurodollars (90 day)-b 3.10 3.10
Treasury bills (one year)-c 3.09 3.02
Treasury notes (three year)-c 4.34 4.26
Treasury notes (five year)-c 5.35 5.26
Treasury notes (ten year)-c 6.39 6.32
Treasury bonds (30 year)-c 7.44 7.34
a-Discounted rates. b-Week ended Wednesday, October 7, 1992 and Wednesday
September 30, 1992. c-Yields, adjusted for constant maturity.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120240
SUBJ: N.Z. Sovereign Debt Rating Will Be Unchanged Says Moody's
WELLINGTON -(AP-DJ)--Moody's Investors Service Inc.
said Wednesday it will issue within a month a review of New
Zealand's sovereign debt rating and the country's
classification will be "unchanged."
A spokesperson for the U.S.-based rating agency said
the review is an annual exercise Moody's goes through to
update its commentary.
"The rating is unchanged," the spokesperson said.
New Zealand's sovereign debt rating by Moody's at
present is Double-A-3.
News that Moody's rating of New Zealand will be
unchanged is in line with market expectations.
"(Finance Minister Ruth) Richardson alluded to the
fact that it would be unchanged on her return from a recent
trip to New York," said Bankers Trust New Zealand Ltd.
associate treasury director John McFarlane.
"The grading comes down to looking at a country's
current account situation as an indicator of its ability to
meet ongoing commitments," McFarlane said.
"Noone expects an upgrade yet because a recent
improvement in New Zealand's current account deficit has
not been strong enough to warrant an upgrade," McFarlane
said.
"On the other hand, the current account has been
improving strongly enough so as to guarantee there won't be
a downgrade," he said.
- - 0239EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120242
SUBJ: N.Z. Sovereign Debt -2: Confirmation Seen As Favorable
According to latest data, New Zealand recorded a current
account deficit of $29 million New Zealand in the second
quarter of 1992, narrowing from a deficit of $125 million NZ
in the first quarter of 1992, which in turn narrowed from a
deficit of $346 million NZ in the fourth quarter of 1991.
McFarlane said financial markets should react favorably
to the confirmation of the debt rating by Moody's.
"Reaffirmation of the government's rating is certainly
not going to be bad news," McFarlane said.
The other main sovereign debt rating agency, Standard &
Poor's Corp. at present rates New Zealand government debt
Double-A-minus, which is in line with the Moody's rating.
-0- 0241EDT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120047
SUBJ: Japan Insolvencies -3: Fiscal 1st Half Failures Up 33%
Teikoku Data Bank said Japan's domestic economic slowdown continues to
show no signs yet of hitting bottom.
For the fiscal first half from April 1 through September 30, Teikoku Data
Bank said insolvencies came to 6,952 cases, up 33% from the year before.
Debts left behind by insolvent companies during the half came to 3.584
trillion yen, down 6.1% from the year before.
Teikoku Data's statistics cover insolvencies of companies with debt
exceeding 10 million yen. For September, the number of insolvencies with
debts exceeding 10 billion yen came to 10, up from 9 cases the year
before.
September's debt total was boosted by the 200-billion-yen failure of an
Osaka-based real estate business group, Yoshimoto Kosan. The group, which
was hurt by the decline in stock and land prices, was the latest victim of
the bursting of Japan's 'bubble' economy. The term bubble economy refers
to the period of sharp asset price inflation that occurred during the easy
money period of the late 1980s.
But while real estate-related failures stood at 100 in September, up 12%
from the year before and the third consecutive month above the 100 mark,
weak economic conditions are taking an increasing toll on non-bubble
companies, Teikoku Data said.
Manufacturing company failures surged 85% to 198 in September from 107
the year before.
- - 0447GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120244
SUBJ: Tokyo Stocks End Lower -2; Nikkei 17,344.03, Dn 0.84%
TOKYO -(AP-DJ)--Tokyo stocks ended mixed Wednesday,
but the Nikkei index plunged nearly 300 points during
the final hour of trading to end at its session low.
Dealers attributed the sell-off at day's end to
index-linked arbitrage, and said the fall was only
coincidental with top Japanese powerbroker Shin
Kanemaru's announcement that he would resign from
parliament to take responsability for a recent scandal.
The Nikkei, which tracks 225 selected issues, fell
146.64 points to 17,344.03. The index rose 188.66
points Tuesday. The Nikkei closed the 1991 trading year
at 22,983.77.
Brian Tobin, general manager of equity sales at S.G.
Warburg Securities (Japan) Inc., said participants are
disappointed with the failure of positive news to emerge
from U.S. Federal Reserve Chairman Alan Greenspan's
meetings with Japanese monetary officials during the
week. He said the market was largely anticipating at
least "some whisper of a concerted (U.S.-Japanese) rate
cut."
Advancing issues narrowly outnumbered retreating
issues 494 to 414, while 183 issues were unchanged.
Volume on the First Section of the Tokyo Stock
Exchange was estimated at 250 million shares, up from
204.98 million shares Tuesday.
- - 0243EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120246
SUBJ: Japan's Trade Surplus-2: Grows For 21st Consecutive Month
TOKYO -(AP-DJ)--Japan's trade surplus for September,
before adjustment for seasonal factors, was $12.07 billion,
up 25% from the $9.66 billion surplus for the corresponding
month a year earlier, the Finance Ministry reported Monday.
September was the 21st consecutive month for which
Japan's trade surplus was bigger than in the corresponding
month a year earlier. The acceleration of the surplus is a
politically sensitive issue between Japan and the U.S. and
other trading partners.
The latest surplus is in line with the average of
forecasts by analysts that Dow Jones surveyed last
week. They saw the surplus at $12.3 billion, reflecting
exports of $30.4 billion and imports of $18.1 billion.
Japan's unadjusted surplus with the U.S. in September
grew 5.8% to $4.84 billion from $4.58 billion a year ago for
a year-on-year increase for the sixth month in a row. In
March, the surplus with the U.S. shrank from year-earlier
levels for the first time in eight months.
The finance ministry also released trade data Wednesday
for the first half of fiscal 1992. Japan's unadjusted trade
surplus during the April-September period grew 32% to $52.46
billion from $39.68 billion in the corresponding term in
the previous fiscal year. Japan's unadjusted surplus with
the U.S. during the six-month period increased 22% to $21.16
billion from $17.37 billion a year earlier.
- - 0246EDT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 180 Days
Dow Jones News/Retieval
Dow Jones News/Retieval
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120718
SUBJ: Dow Jones News Service Codes -- Highlights Of The Service
HIGHLIGHTS OF THE SERVICE
N/HOH Headline Summaries (Hourly)
I/BBB Bulletin Board
N/MKT Latest World Market Reports
N/NWS Special News Events
STOCK MARKET FEATURES
N/NYH Today's Hot NYSE Stocks
N/OTH Today's Hot OTC Stocks
N/NYS NYSE General Market Commentary
N/OTC OTC General Market Commentary
S/DJA Dow Jones Stock Averages
N/STK Stock Market News
S/STT U.S. Stock Market Statistics
S/ACT Most Active Stocks
I/SCR Securities Firms
BUSINESS NEWS
N/ERN Earnings
N/DIV Dividends
N/TNM Takeovers, Mergers and Acquisitions
I/BNK Banks and Banking Industry News
CREDIT MARKET NEWS
G/FED Federal Reserve Board News
G/TRE U.S. Treasury News
N/ICM International Credit Market News
N/BON Bond Market News
N/REG Bond/Stock Registrations
N/RTG Bond/Stock Ratings
N/FIN U.S. Interest Rate News
WASHINGTON NEWS
N/EMI U.S. Economic Indicators
N/EMJ U.S. Economic Indicators - Forecasts, Analysis
N/ECO U.S. Economic News
G/AGN U.S. Government Agency Financing
G/CNG U.S. Congress News
G/EXE White House News
INTERNATIONAL NEWS
N/IEI International Economic Indicators
N/IEN International Economic News and Analysis
N/FRX Foreign Exchange News and Rates
N/TRD International Trade News
R/EC European Community News
R/ML Middle East News
R/JA Japan News
CANADIAN NEWS
N/CEA Canadian Economic & Monetary News
N/TOR Canadian Stock Market Comment
S/TOS Canadian Stock Market Statistics
N/CEM Canadian Economic & Monetary Indicators
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090003, Page:
SOURCE: WSJour
DATE: 199404120252
SUBJ: THIS IS A TEST FOR CHANGE HEADLINE ONLY
SECTION: , ACCESSION: 199210090003
Carl Icahn's plan to cede ownership of Trans World Airlines to employees
and creditors cleared its biggest remaining hurdle, through an arrangement
in which the financier played no part.
The debt-heavy carrier's unsecured creditors reached a tentative
agreement with government pension-guarantee officials. Under the accord,
the company's reorganization can proceed while the Pension Benefit
Guaranty Corp. continues pressing Mr. Icahn's other interests for what it
claims are severely underfunded workers' benefit plans.
The pact amounts to an end run around Mr. Icahn, whom the government
pension agency has accused of intransigence during months of talks.
Mr. Icahn wasn't immediately available to comment. An airline spokesman
said the company wanted to study the pact before making any comment.
The airline's recapitalization plan still needs approval from the federal
bankruptcy court in Wilmington, Del., but the pension agency's sanction
appears to make the court's clearance highly likely. That's because TWA's
creditor committee has previously agreed to forgive about $1 billion of
TWA's $1.5 billion debt in exchange for a 55% stake, and all three of the
company's labor unions have similarly agreed to accept pay cuts and other
contract concessions for the remaining 45%.
Since then, the most formidable obstacle to the recapitalization plan had
been the continued, highly visible concern of officials at the pension
agency. The self-financed government agency insures privately run pension
plans, and if the Mount Kisco, N.Y., airline fails, the agency would have
to step in to pay for pension benefits the airline promised workers.
The agency's deficit already has been pushed to more than $2.5 billion,
partly by pension plans left underfunded in failed reorganization efforts
at Pan American World Airways and Eastern Airlines.
Contending that TWA's two pension plans are short by about $1.2 billion,
the agency had refused to sign off on the recapitalization plan.
Negotiations have been protracted and rocky. Just a month ago, the
pension agency's executive director, James B. Lockhart, publicly urged Mr.
Icahn to make a "serious" offer of how he planned to satisfy his pension
obligations. The agency had "already indicated that we are willing to
absorb hundreds of millions of dollars of losses" to help ensure TWA's
continued operation, he told Mr. Icahn, in chiding him to present a
realistic proposal.
An agency spokeswoman said yesterday that Mr. Icahn had since "met with
us, but in our view no serious or realistic offer was presented."
Yesterday, the agency disclosed that it had reached an "understanding in
principle" with the company's unsecured creditors.
Under terms of that understanding TWA will issue a note for some portion
of the underfunding, and make payments on the note for the next 15 years.
The note, secured by TWA's international routes and certain domestic
facilities, won't be anything near the $1.2 billion sought, the pension
agency conceded.
Instead, the company's two pension plans will be terminated before TWA
emerges from Chapter 11 bankruptcy protection from creditors; that move,
which the agency is empowered to order, will permit the agency a continued
claim on the assets of Mr. Icahn's other companies even though he would no
longer control TWA.
The agency's guarantee will provide full benefits to most of the 32,000
current and former TWA employees covered by the two current plans.
However, some workers, mainly pilots, will get reduced benefits because
their promised benefits exceed limits permitted under federal pension
law.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120247
SUBJ: Yen Rates, Yields: Overnight, Euroyen Futures Dearer
Wednesday PM Tuesday PM
Yen-Dlr Exchange Rate 121.10 121.60
Overnight Secured Call 4.03% 3.91
Overnight Unsecured Call 4.09 4.06
One-Week Discount Bill 4.03 N/A
New 3Mo CDs 3.85 3.90
New 3Mo Euroyen 3.88 3.89
March Euroyen Futures 3.39 3.36
6Mo Treasury Bill 3.550 3.565
Dec JGB Futures 5.036 5.047
Benchmark 10Yr JGB 4.830 4.840
Quotes for call money and discount bills come from
Ueda Tanshi Co. The interest rate for certificate of
deposit (CD) quotes is from brokers screens. The yield of
three-month Euroyen deposit futures for March delivery
reflect the price at the Tokyo International Financial
Futures Exchange. The Finance Ministry's six-month t-bill
quote comes from dealers. Yields of December futures for
Japanese government bonds and the benchmark 10-year issue
come from the Tokyo Stock Exchange.
-0- 0246EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Temporary, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120740
SUBJ: JOINT NEWS CONFERENCE
OTTAWA, Oct. 13 /CNW/ - The National Co-Chairs of the Canada YES
Committee and the Co-Chairs of the Manitoba YES Committee will be holding
a joint News Conference with the executive of the Council for Canadian
Unity to discuss their common position pertaining to the Charlottetown
Accord.
Where: Holiday Inn Crowne Plaza, Kildonan Room
When: 9:30 a.m., Wednesday, October 14, 1992
NATIONAL CO-CHAIRS
Yves Fortier - Former Ambassador to the United Nations
Iona Campagnola - Former M.P. and Chancellor U of N.B.C.
June Callwood - Canadian Journalist
Ted Newall - President and C.E.O. NOVA Corporation
Mary Simon - President Inuit CIRCUMPOLAR Conference
Dr. Joseph Wong - Physician & Director Chinese Can. National
Council
MANITOBA CO-CHAIRS
Hon. Pearl McGonigal - Former Lt. Governor, Manitoba
Jack Fraser - C.E.O. Federal Industries
Roland Penner - Dean, University of Manitoba
School of Law
COUNCIL FOR CANADIAN UNITY
Dr. Joseph Du (Winnipeg)
Tom Denton (Winnipeg)
Dr. Urban Joseph (Toronto)
Ms. Jocelyn Beaudoin (Montreal)
WEDNESDAY, OCTOBER 14, 1992
TIME
SPEAKERS EVENT LOCATION
8:00 A.M. - 9:30 A.M.
NATIONAL CO-CHAIRS NATIONAL COUNCIL FOR HOLIDAY INN
JUNE CALLWOOD CANADIAN UNITY CROWNE PLAZA
IONA CAMPAGNOLA BREAKFAST STRATHCONA ROOM
YVES FORTIER
TED NEWELL
MARY SIMON
DR. JOSEPH WONG
9:45 A.M.
NATIONAL CO-CHAIRS PRESS CONFERENCE HOLIDAY INN
CROWNE PLAZA
KILDONAN ROOM
10:00 A.M.
DAVID BJORNSON, M.P. TOWN HALL SELKIRK
SELKIRK - RED RIVER FRIENDSHIP CENTRE
SELKIRK, MANITOBA
10:30 A.M.
YVES FORTIER FRENCH LANGUAGE SOCIETE FRANCO
NATIONAL CO-CHAIR INTERVIEWS - MANITOBAINE
212 - 383
PROVENCHER BLVD.
11:00 A.M.
MARY SIMON HIGH SCHOOL SESSION CHILDREN OF THE
NATIONAL CO-CHAIR EARTH SCHOOL
100 SALTER STREET
11:00 A.M. - 1:30 P.M.
IONA CAMPAGNOLA WINNIPEG - SOUTH GRANT PARK
NATIONAL CO-CHAIR CONSTITUENCY WITH SHOPPING CENTRE
DOROTHY DOBBIE, M.P.
11:30 A.M. - 1:00 P.M.
YVES FORTIER SOCIETE FRANCO - LE BEAUJOLAIS
NATIONAL CO-CHAIR MANITOBAINE LUNCH RESTAURANT
131 PROVENCHER
BLVD.
11:45 A.M. - 12:45 P.M.
BILL BLAIKIE, M.P. HIGH SCHOOL SESSION MURDOCH MACKAY
WINNIPEG - TRANSCONA COLLEGIATE
260 REDONDA ST.
1:00 P.M. - 2:00 P.M.
TED NEWELL HIGH SCHOOL SESSION GARDEN CITY
NATIONAL CO-CHAIR SHARON CARSTAIRS - COLLEGIATE
``NO'' COMMITTEE 711 JEFFERSON
AVE.
1:45 P.M. - 3:00 P.M.
IONA CAMPAGNOLA, OPEN LINE RADIO SHOW CJOB
MARY SIMON, HOST: GRANT MCGINNIS 930 PORTAGE AVE.
DR. JOSEPH WONG
7:00 P.M.
ART MAURO AND ROYAL BANK EMPLOYEES TEC VOC HIGH
DOROTHY DOBBIE, M.P. INFORMATION SESSION SCHOOL
WINNIPEG - SOUTH 1555 WALL STREET
7:00 P.M. - 10:00 P.M.
LLOYD AXWORTHY, M.P. UNIVERSITY OF TACHE HALL
WINNIPEG - MANITOBA RESIDENCE
SOUTH CENTRE STUDENT RESIDENT AUDITORIUM
ASSOCIATION
NOTE: All times above are local time.
/For further information: (204) 956-1339/
20:28 ET
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120741
SUBJ: OPRAH'S HARPO-PRODUCED SUNDAY NIGHT MOVIE TOPS IN NATIONAL RATINGS
CHICAGO, Oct. 13 /PRNewswire/ -- HARPO Productions first television film
"Overexposed," the ABC Sunday Night Movie of the Week won the time period
in the prime-time ratings race on Sunday, Oct. 11, with a 14.4 national
rating and 23 share, beating the baseball playoffs on CBS and the highly
promoted NBC Jackie Collins movie, ``Lady Boss.''
"Overexposed" is the first in a series of four made-for-television movies
that Winfrey's HARPO Productions intends to produce for the ABC Network.
Behind "Overexposed" in the period were: NBC's Jackie Collins' "Lady
Boss" which scored a 12.7 national rating, 20 share points and CBS's
baseball playoffs that placed third nationally with a 12.1 rating and a 19
share. The highly rated Fox Sunday night line-up including "Married With
Children" came in fourth place with a 8.3/13.
"Overexposed" was produced by Debra DiMaio with executive producer Oprah
Winfrey and director, Robert Markowitz ("Love, Lies & Murder," and "Too
Young To Die.")
HARPO will begin production on its second movie for the ABC network,
"There Are No Children Here," based on the best-selling book by Alex
Kotlowitz in January.
/CONTACT: Colleen Raleigh or Robin Beaman, 312-633-1182, for Harpo
Productions/
20:26 EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120743
SUBJ: Sen. Glenn Outlines Positions on Energy, Environmental Issues
(ADVANCE) WASHINGTON--(BUSINESS WIRE)--Energy America, a coalition of
environmental, consumer, and sustainable energy organizations, today
released the results of a comprehensive candidate questionnaire completed
by both President Bush and his Democratic challenger Bill Clinton, as well
as the results of similar surveys completed by Ohio candidate for the U.S.
Senate, John Glenn.
"This country uses a disproportionate share of world energy supplies and
therefore generates large quantities of polluting emissions which go into
our atmosphere. This survey is important because there are definite
policy differences between the candidates this fall which could have a
major impact on the nation's sustainable energy policies, the environment
and public health," said Kurt Ehrenberg of Energy America.
Candidates were asked their positions on global warming, sustainable
energy initiatives, auto fuel economy, nuclear power, renewable energy
sources, federal transportation policy, and potential drilling in the
Alaska Wildlife Refuge for oil and natural gas.
NNNN
===EOD===
ZCZC
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210140016, Page:
SOURCE: WSJour
DATE: 199404120405
Product: WJ, Service: CO
Permanent, 90 Days
The Wall Street Journal (full text)
The Wall Street Journal (full text)
Accession: 199210090013, Page:
SOURCE: WSJour
DATE: 199404120253
SUBJ: Technology & Health: Genes Play as Big a Role in Alcoholism In
Women as Among Men, Study Finds ---- By Ron Winslow Staff Reporter of
The Wall Street Journal
SECTION: , ACCESSION: 199210140016
THIS IS A TEST FOR CHANGE STORY ONLY
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120048
SUBJ: Australia's Button Endorses Campbell Bid For Arnotts
CANBERRA -(AP-DJ)--John Button, Australia's Minister for Industry,
Wednesday endorsed a takeover bid for local biscuit maker Arnotts Ltd. by
Campbell Soup Co., saying that the local foodstuffs company could achieve
greater export sales under the U.S. company's control.
'If Arnotts is to become a truly international company, that is to say
exporting to the Asia/Pacific region which it has the capacity to do, one
of the things that would greatly help it through that process is
internationally marketing strength, particularly in the Asia/Pacific
region,' Button said.
'That could well be supplied by a company like Campbell,' he added.
Campbell already owns 33% of Arnotts. The U.S. company launched Monday an
8.80 Australian-dlr-a-share bid for Arnotts, which values all the
Australian company at 1.23 billion AUS dlrs.
- - 0448GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120250
SUBJ: Bonn Contemplates Alternatives If Maastricht Fails
BONN -(AP-DJ)--Although German political leaders will
go into Friday's European Community summit publicly
voicing vigorous support for the Maastricht Treaty, they
are privately starting to contemplate a future without it.
"You have a huge gap between what is being said
publicly and what is said in private," said Jochen Thies, a
long-time German political analyst and editor of
Europa-Archiv, the country's leading journal of foreign
affairs.
An erosion of German government support for the
treaty, which contains the EC's blueprint for a single
currency and central bank, could further cloud the
prospects for the controversial monetary union. Already
polls are showing a sharp decline in support for Maastricht
by the public and business leaders.
However, analysts said even treaty skeptics are
reluctant to let Germany be seen as an impediment to
European monetary union.
"There are a lot of second thoughts in the
government," Thies said. "But any German government, or the
opposition, must not be perceived to be blocking European
union. However, since the Danish referendum, it has been
clear that Maastricht in the real meaning isn't coming into
reality."
Furthermore, German fears are growing that Britain
will fail to approve the treaty, which will effectively end
dreams of a broad-based monetary union.
- - 0250EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120252
SUBJ: Bonn Contemplates -2: German Fears May Endanger Treaty
"If the British fail to ratify the treaty, we have a
completely new situation," said Ulrich Irmer, head of the
foreign policy committee of the Free Democratic Party
(FDP).
"I can assure you that not only the German government
but also the parliament reflects about alternatives or
about scenarios which might be implemented if the
Maastricht Treaty is rejected," he added. "Of course we do
this, but we don't say it in public because we are
optimists."
The FDP is the junior partner in Chancellor Helmut
Kohl's ruling coalition.
Irmer also indicated that a public admission that
Germany was giving less than 100% support to the Maastricht
Treaty could in itself kill off any chance the agreement
has of surviving.
Irmer's comments contrast sharply with statements made
by Kohl and Economics Minister Juergen Moellemann, who both
called for a unanimous approval of the treaty by all 12 EC
members without any renegotiation.
Kohl reiterated that position Monday following his
meeting with EC Commission President Jacques Delors to talk
about Friday's summit.
Indeed, German politicians are privately saying that
renegotiating the treaty is impossible since some member
states, such as Greece, Ireland, and France, ratified the
original version while other member states, such as Britain
and Germany, would be asked to approve a modified version.
However, divisions within the German government over
what to do if Maastricht fails makes its alternatives
difficult to discern.
- - 0252EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120253
SUBJ: Bonn Contemplates -3: EC Core Seen Going For Own Union
"I think the main effect of non-ratification by
Britain would be a disaster for Britain," said Werner
Hoyer, the FDP's parliamentary whip. "I am quite sure the
core of the EC would still develop into a European union. I
also am quite sure that a couple of very important nations
that are presently not EC member nations would participate
then."
Under this idea, the EC core, defined by Hoyer as its
original members - Germany, France, the Benelux countries
and Italy - would forge a union that might also include
Scandinavian nations, Austria and maybe even Switzerland.
"I can see interesting options there, but no matter
how nice they might look, they are only second-best
solutions" to ratifying Maastricht, Hoyer said.
Still unexplained is how Italy's beleaguered economy
would stand up to the stiff competition of its northern
neighbors in a future European union or how EC membership
for Scandinavia, Switzerland and Austria would lead almost
immediately to a deeper union with only some EC members.
Also unsaid is that the Scandinavian countries and
Switzerland would likely have to make these decisions based
on public referenda. In light of the narrow French vote in
favor of Maastricht and the Danish vote to reject, there is
no guarantee Swiss or Scandinavian voters would be more
amenable.
"My impression is that they (the government) don't
have an answer yet" to what comes next if Maastricht fails,
Thies said.
- - 0253EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CHATTEM INC. Stock
ISSUER: CHATTEM INC.
SYMBOL: CHTT
FILER: JOLLY CHARLES
TITLE: Officer and director.
SOLD: 9/16/92 10,000 28.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120057
SUBJ: Japan Insolvencies -4: Labor-Related Failures Decline
Teikoku Data Bank said bubble insolvencies in September came to 116
cases, up 15% from 101 cases the year before.
But the 577 cases of 'recession' insolvencies due to weak demand were up
a sharp 88% from 307 cases the year before. At 50.4% of total
insolvencies, the weight of weak demand in September's numbers was far
above the 36.3% figure for the year before.
The number of insolvencies tied to tight labor conditions dropped to 31
cases, down 34% from 47 cases the year before. September's total was down
from 35 in August, 37 in July and 40 in June, reflecting an easing of
tight labor market conditions as Japan's economic slowdown has dragged on.
Teikoku Data said the 7,522-employee total at insolvent companies in
September was 28% up from the year before.
- - 0458GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120727
SUBJ: UAW Seeks To Help Solve General Motors `Problems'
By Joseph B. White
DETROIT -- The United Auto Workers union's top negotiator at General
Motors Corp., in an unusual public statement, said the union "recognizes
that GM has real problems" and is "quite prepared to be a part of . . .
solutions," The Wall Street Journal reported
The statement was the first public hint that the UAW is willing to
participate in GM's crash effort to make its North American operations
profitable again.
In his most direct public comments on GM's recent labor troubles, UAW
Vice President Stephen P. Yokich criticized recent reports that GM's
outside directors are pushing management to take a tougher line with the
union. "Finger-pointing, scapegoating and management by news-leak isn't
one bit helpful" in the process of negotiating a resolution to GM's
problems, Yokich said.
Yokich apparently was referring to an article in yesterday's Washington
Post that said GM's directors had told GM Chairman Robert C. Stempel to
get tough with the UAW or risk losing his own job, perhaps by year end.
Yokich's comments come at a time when he and GM President John F. Smith
Jr. are walking a tightrope between GM's outside directors, who want fast
action to cut labor costs, and UAW local leaders, who want Yokich to fight
any effort to cut jobs. Smith and Yokich are in regular contact with each
other, and it is Smith, not Stempel, who is primarily responsible for
dealing with the labor issue, people close to the company say.
GM's directors have turned up pressure on top GM management to develop a
strategy for closing a $795-per-vehicle labor cost gap with rival Ford
Motor Co. GM directors conducted an extensive and critical review of GM's
labor strategy at a meeting in New York last week, people familiar with
the board's deliberations said.
GM's reaction to reports of the board's impatience came in a statement
from Stempel that "there is no disagreement between management and GM
directors on the position the corporation must take in bargaining with the
union." That position, the statement added, is to "improve our
competitiveness."
Talks to fashion a new labor contract are expected to be tough. GM
officials have indicated they will press demands, which the UAW has
rejected in the past, to cut medical insurance costs and introduce lower
wages for parts operations.
GM is also expected to accelerate and possibly expand plans to cut 54,000
UAW jobs from its North American payrolls. GM is considering the sale of
more of its parts-making operations than previously disclosed, according
to company insiders and individuals who have approached the auto maker
with proposals to acquire GM operations. GM has declined to comment.
The UAW, however, has seemed determined in recent weeks to block these
efforts. Since late August, UAW locals at three different factories have
protested GM's efforts to cut jobs by threatening damaging strikes. Locals
at a key metal stamping plant in Lordstown, Ohio, and an assembly plant in
Lansing, Mich., made good on their threats by staging walkouts.
But a third and potentially crippling strike at a pivotal parts plant in
Anderson, Ind., was averted last week. Senior GM and UAW negotiators, who
took over the Anderson talks on Oct. 6, cut a deal under which the UAW for
the first time agreed to cooperate in an intensive program to cut labor
costs at the factory. Workers will participate in one-week cost-cutting
workshops, modeled on a program launched elsewhere at GM by Smith's fiery
vice president for world-wide purchasing, J. Ignacio Lopez de Arriortua.
Some analysts speculated yesterday that the Anderson agreement could
serve as a model for efforts to cut costs at other GM plants.
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120254
SUBJ: Bonn Contemplates -4: Officials Act To Soothe Public
"There has been deep uncertainty since the close
outcome of the French referendum," Thies added. "Since they
don't know what to do, they are continuing to say what they
have always said."
Although the German government is trying to maintain a
united front in support of Maastricht, some of its actions
belie the doubts that are swelling to the surface.
Most significantly, it promised the parliament last
Thursday that it wouldn't proceed with the full currency
union without parliamentary approval. The Maastricht Treaty
itself makes no provision for this step.
While government officials have repeatedly denied
publicly that the vote is effectively a German "opt-out"
clause, they also refuse to discuss the consequences of a
"no" vote by parliament.
"I couldn't imagine parliament not approving the entry
of Germany into monetary union if the criteria laid down in
Maastricht are strictly met," said a finance ministry
spokesman said.
Also last Thursday, Finance Minister Theo Waigel
created a furor when he said the single European currency
envisioned by Maastricht wouldn't be the European Currency
Unit (ECU) but a Euro-mark. This raised fears that Germany
was outlining a smaller currency union than the one planned
at Maastricht.
Politicians have since said that Waigel's statements
were meant only for domestic consumption and to reassure
German citizens that the European currency would be at
least as stable as the Deutsche mark.
"These are all things that are said in order to soothe
the national public," Irmer said.
-0- 0254EDT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120059
SUBJ: Denmark's A.P. Moller Not Taking Singapore's FELS Rig
SINGAPORE -(AP-DJ)--Far East Levingston Shipbuilding Ltd. (FELS)'s
confidence to sell or lease out the drilling rig not yet taken by
Denmark's A.P. Moller isn't shared by market players.
At the close of the morning trading session at 0430 GMT, FELS, which
gained 2 cents Tuesday, lost 8 cents to 2.69 SGPR dlrs on 208,000 shares
after falling steadily all morning. Its 1994 warrants are down 6 cents to
41.5 cents on 533,000 shares.
Although marine analysts have declined to put a floor on FELS' price, one
analyst from a U.K. brokerage said: 'The market won't read the news well.'
FELS traded as high as 6.70 SGPR dlrs earlier this year, and all the way
down to 1.76 SGPR dlrs more recently. One institutional dealer noted that
the only reason it hasn't fallen further was because, like other marine
stocks, FELS had already faced heavy selling earlier in the year.
FELS said in a late statement Tuesday that A.P. Moller served notice to
FELS on Oct. 12 that it had decided to rescind the contract, and not take
delivery of the rig which FELS presented to the shipping, industrial and
oil exploration group on Oct. 10.
The rig is one of two which FELS is building for A.P. Moller. The second
is due to be delivered at the end of this year under a separate contract.
- - 0500GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120255
SUBJ: *French Central Banker Hopes German Rates Can Come Down
- - 0255EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120744
SUBJ: ADVANCE/Sen. Glenn Outlines Positions on Energy, Environmental
Issues
During the past several years I have authored amendments to the
DOD Authorization bill and the Energy and Water Appropriations bill
which have increased funding for E, S&H issues.
One of the first issues I focused on when I entered the Senate
was the problem of radioactive waste management. As past chairman
of the Senate Subcommittee on Energy, Nuclear Proliferation, and
Federal Services, I conducted numerous hearings on this problem and
introduced legislation, parts of which were ultimately incorporated
in the Nuclear Waste Policy Act passed by Congress in 1982. As
chairman of the Senate Committee on Governmental Affairs, my concern
for this issue has not wavered.
In 1985, I supported the Low-Level Radioactive Waste Policy
Amendments Act which governs the ongoing disposal of low-level
radioactive wastes. This law delegates primary responsibility to
the states and provides a framework for construction of additional
low-level waste repositories. The states lobbied vigorously for
this authority, believing that they were best-suited for determining
where and how to site these facilities.
I will do my utmost to ensure that the people of Ohio, and the
rest of the country, are well-protected from any hazards posed by
any low-level waste disposal site. I am enclosing a summary
statement of a General Accounting Office (GAO) report done at my
request which addresses the low-level radioactive waste issue. If
you would like a copy of the full GAAO study, please contact the
Governmental Affairs Committee at 340 Dirksen Senate Office
Building, Washington, D.C. 20510.
I cite my work in these areas to make clear that my interest in
and knowledge of nuclear matters goes beyond the headlines. I have
attempted, during my time in the Senate, to craft workable solutions
to the many vexing dilemmas that nuclear power and the nuclear arms
race pose for our society.
10. Do you support the authority of state governments to:
A. Protect their citizens from radiation and other toxic
emissions with stricter than federal laws and regulations?
YES
B. Veto the relicensing of nuclear power plants for safety or
economic reasons, after their 40 year operating license
has expired?
SEE COMMENT
C. Set and enforce stricter than federal standards for the
transportation of radioactive waste across state borders?
YES
The Office of Technology Assessment is currently undertaking
a study at my request to examine the technical issues
relating to attaining and extending the design life of
commercial nuclear power plants.
11. Do you support the adoption and funding of a federal
transportation policy committed to the development of high speed
rail, light rail, bikeways and other environmentally sound mass
transit systems?
YES
I recently voted for the Intermodal Surface Transportation
Efficiency Act (ISTEA) which, for the first time, provides
states with the flexibility to use federal highway funds for
transit, rail, and other transportation projects, rather than
using these funds exclusively for road construction and
maintenance.
12. Do you favor a ban on off shore oil drilling in environmentally
sensitive areas?
YES
13. Do you support protecting the rights of citizen groups to
gather information from and protect the identity of whistleblowers?
NO
People who have the courage and integrity to report instances
of misconduct, waste or criminal activity in government should
be protected to the best of our ability. However, it appears
that this question refers to whistleblowers who are federal
employees. Due in part to legislation sponsored by me, there
are currently Inspectors General (IG's) in place in 60
government offices. They routinely gather information from
whistleblowers, and are required by law to protect
whistleblower identities. The IG offices are staffed with
trained investigators and auditors. I believe they are
uniquely and best qualified to gather and protect the
information and identity of aa whistleblower. I do not believe
that citizen groups have the means at their disposal that IG's
do.
14. Do you support the United States signing the global
biodiversity treaty, and taking a leading role in reaching
international agreements and proposing initiatives to restore and
protect the global environment?
YES
End of questionnaire. Thank you for your cooperation.
CONTACT: Communications Consortium
Phil Sparks, 202/682-1270
10:00 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CIMCO INC. Stock
ISSUER: CIMCO INC.
SYMBOL: CIMC
FILER: MITCHELL JIMMY R
TITLE: Officer.
SOLD: 9/10/92 7,500 7.50
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CLEAN HARBORS INC. Stock
ISSUER: CLEAN HARBORS INC.
SYMBOL: CLHB
FILER: BELL CHRISTY W
TITLE: Director.
SOLD: 9/30/92 5,000 11.50
OWNERSHIP: 62,352 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys CAMBRIDGE NEUROSCIENCE INC Stock
ISSUER: CAMBRIDGE NEUROSCIENCE INC.
SYMBOL: CNSI
FILER: WARBURG PINCUS CAPITAL PRTNRS LP
TITLE: Director and beneficial owner.
PURCHASED: 9/18/92 51,000 5.25
OWNERSHIP: 2,497,929 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120102
SUBJ: Taiwan Closing Stock Prices
Wednesday previous
Acer 15.8 15.8
Asia Cement 55.5 55
Cathay Construction 49.6 49.1
Cathay Life Insurance 119.5 119
China Steel 17.3 17.2
China Synthetic Rubber 39.3 38.6
Evergreen Marine 31.5 31
Far Eastern Textile 32.9 32.5
Formosa Plastics 36.6 36.2
Hua Nan Commercial Bank 77.5 78
Int'l Comm. Bank of China 49.6 49.3
Int'l Bills Finance 51 50
Microelectronics Tech. 63.5 62
Microtek International 30 29.5
Nan Ya Plastics 39.4 39
President Enterprise 46.3 45.6
Taipei Business Bank 65 65
Taiwan Cement 50 50
Teco Electric & Machinery 52.5 52
United Microelectronics 34.1 33.3
Wei Chuan Food 30.4 30.2
Yuen Foong Yu Paper Mfg. 31.2 31.1
-0- 0502GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Japan Sept. Trade Surplus $12.07B Vs Yr-Ago $9.66 Bln
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
HOT
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Greenspan Can't Judge When Econ Acceleration Will Occur
7:30 AM
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
Business Wire
Business Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120746
SUBJ: Two Long Island towns tap Brooklyn waste-management firm
BROOKLYN, N.Y.--(BUSINESS WIRE)--As part of an unprecedented arrangement
between two municipalities (North Hempstead and Babylon) and private
industry, Star Recycling Inc. Tuesday was awarded a multi-million dollar
contract to haul, process and dispose of municipal solid waste for the
next 20 years.
``We're thrilled to be part of this unique waste-management partnership,
which we think ushers in a new era of cooperation between municipalities
and industry,'' said Anthony Lomangino, Star's chief executive officer.
``By working with Star, towns can comply with state-mandated
waste-management practices and achieve recycling goals in a cost-effective
and predictable way.
``A financially stable, full-service firm such as Star guarantees
municipalities a creative, environmentally sound, least-cost solution to
their waste-management problems,'' he added.
Under the terms of the contract, Star Recycling will annually handle and
haul approximately 100,000 tons of municipal solid waste. In addition,
Star will also dispose of North Hempstead's construction and demolition
waste, and yard waste.
To process the waste, the company will use its own local recycling
facilities and transfer stations, as well as an extensive network of
landfills and truck and rail transporation systems.
Founded in 1954, Star Recycling Inc. is the largest full-service
waste-management firm in the New York metropolitan area. The company is
privately held and employs approximately 450 people.
CONTACT: Star Recycling Inc., Brooklyn
William F. Kaiser, 718/779-4650
or
Pearson Public Relations
Terrylynn Pearson, 408/773-1858
20:45 ET OCT 13, 1992
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120107
SUBJ: Taipei Shares-2: New Index Low May Follow Low Turnover
Tu Jin-lung, assistant trading manager at Grand Cathay Securities Corp.,
said Wednesday's index climbed after Tuesday's trading failed to break
below 3559 points, a recent intraday low set on October 7 and a new
support level.
He noted that most participants were cautious in entering the market
Wednesday, and since the index opened higher, institutional investors
didn't buy shares as they had done in previous sessions.
According to previous experience, Tu pointed out, the index is very
likely to reach a new recent low in the next few sessions after hitting
new record-low turnover value, And after that, a rebound is expected, he
added.
For Thursday, he predicted the index will range-trade between 3600 and
3700 points.
Among the heavily traded shares, Hualon-Teijran added 0.2 NT dlr to 24.8
NT dlrs, United Microelectronics rose 0.8 NT dlr to 34.1 NT dlrs, and UTD
Ceramics gained 3.5 NT dlrs to 60.5 NT dlrs.
-0- 0507GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120107
SUBJ: Singapore's FELS -2: No Effect On Financial Position
The non-delivery of the rig isn't expected to have any adverse effect on
FELS' financial position, a FELS spokeswoman said.
She said the company 'is so confident that other parties can take the rig
it wasn't taking any legal action against A.P. Moller. FELS has been in
negotiations with several parties to either sell or lease the rig 'even
before this happened,' she said. Additionally, it is already accepted that
the rigs will not contribute to FELS' profits for the year ending Dec. 31,
1992.
FELS' contract with A.P. Moller provides for an escape clause between
both parties with no liabilities attached, the spokeswoman said.
The contracts are worth 110 million U.S. dollars or around 175 million
Singapore dollars each, but the value of the rigs is quoted as 250 million
Singapore dollars each. An analyst with a U.K. brokerage said the
difference went to material costs which A.P. Moller had to provide.
No reason was given for the rescission, but FELS managing director Choo
Chiau Beng said: 'This rig has been built to the most exacting standards
and today the rig is worth more than its contracted value. FELS has
therefore decided to accept A.P. Moller's rescission of the contract as we
are confident that the rig can be put to good use soon.'
- - 0508GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120108
SUBJ: Japan Insolvencies-5: Insolvencies By Industrial Sector
A table by major industrial sector of the number of insolvencies in
September compared to the year before and to August follows:
Industry Sept/92 Sept/91 Change On Yr Aug/92
Real Estate 100 89 +12 102
Construction 235 174 +35 209
Service 119 82 +45 131
Retail 182 176 + 3.4 185
Wholesale 257 175 +44 261
Manufacturing 198 107 +85 198
-0- 0509GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
HOT
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Greenspan Says U.S. Economic Growth Moderate; Still Growing
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
HOT
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Greenspan Says Dramatic Rise In US Econ Growth Not Feasible
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120257
SUBJ: Japan's Trade Surplus-3: Imports Up 8.6% From Year Ago
In September, overall exports, as measured when goods
passed through customs, rose 14% to $31.60 billion from
$27.65 billion, for the 28th consecutive month of gain from
the year-earlier level.
Japan's overall customs-cleared imports came to $19.53
billion, up 8.6% from $17.99 billion a year earlier. In
August, imports fell on year for the first time in four
months.
The September unadjusted surplus was up 71% from the
August unadjusted surplus, while exports were 21% and
imports were up 2.4%. For August the surplus was $7.07
billion, up 24% from $5.70 billion a year before. Exports in
August were $26.14 billion, up 5.4%. Imports that month came
to $19.07 billion, down 0.2%. The Finance Ministry revised
the August surplus to smaller than the 7.50 billion yen that
it initially reported. The ministry originally reported
exports at $26.53 billion and imports $19.02 billion for
August.
- - 0256EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys CRAWFORD & CO. CL A Stock
ISSUER: CRAWFORD & CO. CL A
SYMBOL: CRDB
FILER: DENNING RICHARD F
TITLE: Shareholder.
PURCHASED: 9/11/92 850 18.25
OWNERSHIP: 1,600 Indirect Common Class I
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CARRINGTON LABORATORIES IN Stock
ISSUER: CARRINGTON LABORATORIES INC.
SYMBOL: CRN
FILER: HOWARD CLINTON H
TITLE: Director and beneficial owner.
SOLD: 9/16/92 10,000 11.50-11.75
OWNERSHIP: 688,235 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120113
SUBJ: Dlr Softens From Late Singapore Levels In Thin HK Trade
HONG KONG -(AP-DJ)--The dollar is slightly lower in light HK trading
around midday Wednesday in Hong Kong, compared with its late morning
levels in Singapore.
Around 0502 GMT, the U.S. unit was quoted at 120.97 yen, down from 121.14
yen in Singapore around 0335 GMT and from 121.10 yen late Tuesday in New
York.
It was also at 1.4626 Deutsche marks, off from 1.4640 marks in Singapore
and from 1.4640 marks in New York. Sterling was at 1.7140 dlrs, unchanged
from Singapore and down from 1.7160 dlrs late in New York.
A dealer at a local bank said the dollar continues to edge down this
morning as investors focus on the sluggish U.S. economy and prospects of a
slow recovery.
He said many participants also stay sidelined ahead of release at later
Wednesday of a spate of US economic data including the widely watched
September retail sales.
The dealer expects the dollar to remain below 1.4800 marks and hold to a
range of 120.70-121.20 yen over the course of the local trading day.
On local currency markets, the U.S. dollar was quoted at 7.7328 HK
dlrs,up from 7.7325 HK dlrs around the same time Wednesday. The interest
rate on overnight Hong Kong-dollar lending rose to an offered rate of
2.50% from Tuesday's 2.3750%.
-0- 0514GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
HOT
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120114
SUBJ: *Japan Ruling Party Powerbroker Kanemaru Quits Parliament: Kyodo
Reports
- - 0514GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120115
SUBJ: Dlr Softens From Late Singapore Levels In Thin HK Trade
HONG KONG -(AP-DJ)--The dollar is slightly lower in light HK trading
around midday Wednesday in Hong Kong, compared with its late morning
levels in Singapore.
Around 0502 GMT, the U.S. unit was quoted at 120.97 yen, down from 121.14
yen in Singapore around 0335 GMT and from 121.10 yen late Tuesday in New
York.
It was also at 1.4626 Deutsche marks, off from 1.4640 marks in Singapore
and from 1.4640 marks in New York. Sterling was at 1.7140 dlrs, unchanged
from Singapore and down from 1.7160 dlrs late in New York.
A dealer at a local bank said the dollar continues to edge down this
morning as investors focus on the sluggish U.S. economy and prospects of a
slow recovery.
He said many participants also stay sidelined ahead of release at later
Wednesday of a spate of US economic data including the widely watched
September retail sales.
The dealer expects the dollar to remain below 1.4800 marks and hold to a
range of 120.70-121.20 yen over the course of the local trading day.
On local currency markets, the U.S. dollar was quoted at 7.7328 HK
dlrs,up from 7.7325 HK dlrs around the same time Wednesday. The interest
rate on overnight Hong Kong-dollar lending rose to an offered rate of
2.50% from Tuesday's 2.3750%.
-0- 0515GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Tokyo Stocks End Mixed; Nikkei Index Down 0.84%
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
HOT
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Digital Equipment 1Q Loss $2.04/Shr Vs Oper Net 9c >DEC
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120258
SUBJ: Australian Shares Close Softer On Directionless Trading
SYDNEY -(AP-DJ)--Australian stocks drifted to a softer
close Wednesday after directionless trading kept the main
share index within a five-point range.
The All-Ordinaries index closed down 3.2 points at
1,453.8.
The index, which started at 1,651.4, is almost back at
its 18-month closing low of 1,452.4, achieved Oct. 6.
The index drifted for most of the day, with weaker
prices for some metals and a drop in the gold price
responsible for a drift down in some resource stocks.
Trading was directionless despite stronger
performances on international markets Tuesday. Data showing
an 8.3% growth in the volume of new Australian housing
approvals for August failed to move the market, traders
said.
Chris Kincaid, an institutional trader for brokerage
BOS Stockbroking Ltd. said "investors were unprepared to
commit themselves and take a position in the present
uncertain climate. He cited the U.S. presidential election
and the possibility of further monetary easings in the U.S.
and Germany as generating much of the uncertainty on
financial markets.
Turnover on Australian markets totaled 112 million shares
valued around $193 million Australian, compared with
Tuesday's 111 million shares valued around A$207 million.
Falls outnumbered rises 152 to 139.
On the Sydney Futures Exchange, the December share
price index futures contract fell to 1,446.0 from 1,457.0
Tuesday.
-0- 0258EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120300
SUBJ: *Bundesbank Casts Doubt On Jan. 1, 1993 Deadline For Ratification Of
Maastricht Treaty By Separate EC Nations
- - 0300EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120300
SUBJ: *Bundesbank Says Conditions For ERM Stability "Have Substantially
Improved"
- - 0300EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CISCO SYSTEMS INC. Stock
ISSUER: CISCO SYSTEMS INC.
SYMBOL: CSCO
FILER: VALENTINE DONALD T
TITLE: Director.
SOLD: 9/25/92 5,000 56.00
OWNERSHIP: 39,000 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Petroleum Wire
DJ International News Petroleum Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120115
SUBJ: Dlr Softens From Late Singapore Levels In Thin HK Trade
HONG KONG -(AP-DJ)--The dollar is slightly lower in light HK trading
around midday Wednesday in Hong Kong, compared with its late morning
levels in Singapore.
Around 0502 GMT, the U.S. unit was quoted at 120.97 yen, down from 121.14
yen in Singapore around 0335 GMT and from 121.10 yen late Tuesday in New
York.
It was also at 1.4626 Deutsche marks, off from 1.4640 marks in Singapore
and from 1.4640 marks in New York. Sterling was at 1.7140 dlrs, unchanged
from Singapore and down from 1.7160 dlrs late in New York.
A dealer at a local bank said the dollar continues to edge down this
morning as investors focus on the sluggish U.S. economy and prospects of a
slow recovery.
He said many participants also stay sidelined ahead of release at later
Wednesday of a spate of US economic data including the widely watched
September retail sales.
The dealer expects the dollar to remain below 1.4800 marks and hold to a
range of 120.70-121.20 yen over the course of the local trading day.
On local currency markets, the U.S. dollar was quoted at 7.7328 HK
dlrs,up from 7.7325 HK dlrs around the same time Wednesday. The interest
rate on overnight Hong Kong-dollar lending rose to an offered rate of
2.50% from Tuesday's 2.3750%.
-0- 0516GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *U.S. Stocks Lower In Europe; Japanese Stocks Steady
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *London Morning Gold Fixing $343.30 An Ounce, Down 45c
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Media Vision Files 2 Mln Initial Shares
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120730
SUBJ: *Park Ohio Corp. 3Q Net $1.26 A Shr Vs $1.11 >PARK
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120300
SUBJ: *Bundesbank Hopes ERM Stability Means Spain, Portugal and Ireland Can
Soon Remove Limitations On Capital Flows
- - 0300EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120300
SUBJ: *German Govt Borrows Net DM15.11 Bln In 9 Mths Thru' Sept.
- - 0300EDT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120119
SUBJ: Singapore's FELS -3: Rig Built Specifically For North Sea
Marine analysts speculated Wednesday though that FELS would probably have
to take a loss given the current soft demand for such equipment.
The head of research of a U.S. broking firm pointed out that with the
price of crude oil staying around the 20-21 dollars a barrel mark, oil
exploration activities are likely to remain depressed.
'Global utilisation of rigs is very low at the moment, and it isn't
likely to improve in the short term,' the analyst said.
The rig, a harsh-environment jack-up drilling unit used mainly for oil
exploration, is also built specifically for rough conditions in the North
Sea. 'FELS will have to find a North Sea operator for the rig. Otherwise,
it will have to quote ridiculously low figures for regional use,' another
analyst said.
It is likely that should FELS fail to find a buyer, the rig would be be
kept as an asset. 'This means that FELS' cash will be tied up and cash
flow will be reduced,' the analyst from the U.K. brokerage said.
The A.P. Moller contracts were two of FELS bigger jobs, seen by some
analysts as second to the current one for the Brazilian national oil
company, Petrobras. The share which FELS, which is building a production
platform together with the Brazilian national engineering company,
Tenenge, will get from Petrobras amounts to around 262 million SGPR dlrs.
FELS is expected to complete the job by end-1993.
FELS was hit hard earlier this year when Petrobras decided to postpone
indefinitely the building of the second phase of its facility. The
shipyard, which expanded into oil facility building, had been widely
expected to get the second contract.
- - 0519GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120121
SUBJ: Australia's Button/Campbell Bid -2: Lauds Foreign Owners
Arnotts shares are at 9.16 AUS dlrs in afternoon trading on the stock
exchange Wednesday, up 1 cent from Tuesday's close. The stock was at 8.00
AUS dlrs before the bid was announced.
Answering questions in parliament, Button said he didn't want to comment
on the merits of the Campbell bid for Arnotts, saying that is a matter for
shareholders.
The bid is subject to approval by Australia's foreign investment
regulator, the Foreign Investment Review Board, he noted.
But Button observed that a large proportion of Australian industry is
already foreign-owned.
'Ten years ago, the issue of foreign ownership simply meant that many
Australian companies, subsidiaries of foreign companies, operated with a
branch-office mentality,' Button said.
But those companies no longer have that attitude and are 'significant
contributors to exports from Australia,' he said.
Arnotts 'has been a successful company in the domestic market...whether
it becomes a successful company internationally may depend on some of the
factors I have alluded to,' Button said.
-0- 0521GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Time Magazine Files Suit To Stop Bush-Quayle Ad
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Linear Technology Board Ok's Two-For-One Stock Split >LLTC
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120301
SUBJ: Bundesbank: DM's Real Value Vs EMS Back At 1987 Levels
FRANKFURT -(AP-DJ)--The Deutsche mark has appreciated
a weighted 6% against currencies within the European
Monetary System (EMS) since Sept. 11, the Deutsche
Bundesbank said in its October monthly report.
In the week since then, the Italian lira was devalued
7% and a few days later pulled out of the exchange rate
mechanism along with sterling. The peseta was devalued 5%
as well.
The 6% appreciation is against all EMS currencies
except the Greek drachma.
After years of steady real depreciation against EMS
currencies, the mark's inflation-adjusted value is at or
slightly above levels last seen at the start of 1987, the
date of the last broad EMS realignment, the central bank
added in a brief commentary on last month's currency
turmoil.
"The defacto appreciation of the Deutsche mark makes
the containment of domestic inflationary tendencies
easier so that the achieved and considerable decline in
German interest rates don't endanger" the Bundesbank's
stability-oriented monetary policy and its control over
money supply growth, it said.
German overnight money rates have dropped to just
under 9% from 9.75% since Sept. 11. The Bundesbank also
has reduced its key discount rate 50 basis points to 8.25%
and its Lombard rate 25 basis points to 9.50%.
-0- 0300EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys COUNTRYWIDE MORTGAGE INVES Stock
ISSUER: COUNTRYWIDE MORTGAGE INVESTMENTS INC.
SYMBOL: CWM
FILER: MOZILO ANGELO R
TITLE: Officer and director.
PURCHASED: 9/14/92 296 5.03
OWNERSHIP: 23,093 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CITY NATIONAL CORP. Stock
ISSUER: CITY NATIONAL CORP.
SYMBOL: CYN
FILER: LUSHING GERALD M
TITLE: Director.
SOLD: 9/2-24/92 41,200 6.75-7.25
OWNERSHIP: 61,183 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CYTEL CORP. Stock
ISSUER: CYTEL CORP.
SYMBOL: CYTL
FILER: CROOKE STANLEY T
TITLE: President.
SOLD: 9/29/92 3,000 8.25
OWNERSHIP: 4,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Linear Technology Starts Regular Qtr Div Plan With 5c Div
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Japan Sept. Trade Surplus $12.07B Vs Yr-Ago $9.66 Bln
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120302
SUBJ: Bundesbank Casts Doubt -2: No Comment On Ramifications
FRANKFURT -(AP-DJ)--The Deutsche Bundesbank cast doubt
on whether European Community (EC) members will meet
their timetable for ratifying the Maastricht treaty.
Under the terms of the treaty on European political,
economic and monetary union, the 12 EC nations are to
adopt it by Jan. 1, 1993.
"It remains to be seen when this ratification process
will be completed and whether the Jan. 1, 1993 deadline
can be met for the treaty to take effect," the Bundesbank
wrote in its October monthly report.
The one-sentence statement on Maastricht was included
as the final sentence in a special eight-page chapter
entitled "Europe on the Way to a Common Market." The
chapter, which didn't directly deal with Maastricht
issues until the conclusion, didn't elaborate on the
reasons for the possible delay.
The Maastricht treaty has been ratified by parliaments
or referenda in France, Greece, Luxembourg and Ireland.
Parliaments in seven other EC members are expected to vote
on the treaty by the end of the year.
In the twelfth country, Danish voters rejected the
treaty in a June 2 referendum. Their government has said
it may hold a second referendum in mid-1993 if some
aspects of the treaty are clarified.
The Bundesbank didn't comment on whether the
ratification delays would lead to other complications.
- - 0301EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells CYTEL CORP. Stock
ISSUER: CYTEL CORP.
SYMBOL: CYTL
FILER: KRANZLER JAY D
TITLE: President.
SOLD: 9/9-11/92 5,000 8.75-8.88
OWNERSHIP: 256,093 Direct Common
COMMENT: Open Market Sale
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys CALMAT CO. Stock
ISSUER: CALMAT CO.
SYMBOL: CZM
FILER: LEE THOMAS L
TITLE: Director.
PURCHASED: 9/30/92 500 20.00
OWNERSHIP: 2,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys COORDINATED MEDICAL SERVIC Stock
ISSUER: COORDINATED MEDICAL SERVICES OF NC INC. CL A
SYMBOL: N/A
FILER: BENOIT KEITH G
TITLE: Officer.
PURCHASED: 9/21/92 100 16.00
OWNERSHIP: 596 Direct Common Class D
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys LANNETT CO. Stock
ISSUER: LANNETT CO.
SYMBOL: LAN
FILER: FARBER DAVID
TITLE: Director.
PURCHASED: 6/16/92-9/24/92 445 7.00-12.50
OWNERSHIP: 11,445 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:05
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120125
SUBJ: N.Z. Shares End Mixed On Moderate Trading;Index Near Level
WELLINGTON -(AP-DJ)--New Zealand equities ended mixed in moderate
activity Wednesday, with local brokers saying the market is expected to
ease Thursday.
The market Wednesday began the trading session in an 'upward mood' helped
by foreign orders, but later the early overseas support faded away, said
Paul Davenport of brokerage Doyle Paterson Brown Ltd.
Many local institutions appear to be engaging in little trading on the
exchange while they wait for overseas financial markets to settle,
believes Davenport.
The NZSE-40 index, was down 0.54 points at 1,390.63 from Tuesday's close.
The index rose 1.1% Tuesday.
Turnover was 11.2 million shares valued at 19.6 million New Zealand
dollars, compared with Tuesday's 17.1 million shares valued at 27.4
million NZ dlrs.
Rises outnumbered falls 29 to 19.
The December share-index futures contract closed lower at 1,400, from
1,410 Tuesday.
Davenport predicts the market will trade 'moderately lower' Thursday,
assuming overseas bourses are steady.
- - 0525GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120127
SUBJ: M.I.M. Of Australia 1Qtr Profit 29 Mln AUS Dlrs; Sales Up
SYDNEY -(AP-DJ)--M.I.M. Holdings Ltd., one of Australia's biggest mining
companies, Wednesday reported an operating profit after tax of 29.0
million Australian dlrs, swinging from a year-earlier loss of 3.5 million
AUS dlrs.
Figures are in Australian dollars. The figures are rounded but
percentages calculated from complete data.
Latest Period Previous Change
After-tax profit (loss) 29.0 mln (3.5 mln) n/a
Sales 455.4 mln 407.7 mln Up 12%
- - 0528GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Sweden's Riksbank Cuts Key Lending Rate To 15.5%
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120302
SUBJ: Bundesbank Casts Doubt -3:Forex Differences More Apparent
Under the treaty, the next stage of European monetary
union begins Jan. 1, 1994. Early in that phase, EC
members will found a European Monetary Institute, a
forerunner to a European central bank, that will
coordinate national monetary policies but won't issue
money or have monetary authority.
In the final stage of monetary union, which can start
as early as 1997 but no later than 1999, countries which
meet tough economic targets would irrevocably fix their
exchange rates and eventually trade in their currencies
for a single currency.
The Bundesbank's chapter on Europe focused mainly on
the establishment of a single European market, a parallel
endeavor which also is to take effect Jan. 1, 1993.
As those deadlines loom, the differences in the
economies have become more apparent, it said. "In a
single borderless market, the exchange-rate uncertainties
that still persist will come more clearly to light."
- - 0302EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120303
SUBJ: Bundesbank Casts Doubt -4: Realignments Option To The End
But exchange rates in Europe's exchange rate mechanism
(ERM) should calm down after the recent calamities, the
Bundesbank wrote. "With both exchange rate adjustments on
Sept. 13 (when the lira was devalued) and Sept. 17 (when the
peseta was devalued) and the suspension of the exchange rate
of the British pound and the lira, the conditions should
have substantially improved for a stable exchange rate
structure between the EMS currencies. It is therefore hoped
that the limitation on capital flows (by Spain, Portugal and
Ireland) can soon once again be removed."
On Sept. 23, the Bank of Spain introduced emergency
capital controls in an effort to shield the peseta from
heavy selling. But on Oct. 5, it lifted the capital
restrictions for residents but toughened them for
non-residents.
On the following day, Portugal and Ireland introduced
measures that diminished trading volumes in their currencies
and braked the heavy selling.
The Bundesbank also repeated its stance that EC nations
should employ the opportunity to change ERM parities "up to
the point of entry" into the final stage of monetary union
when exchange rates are fixed irrevocably.
-0- 0303EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys LANNETT CO. Stock
ISSUER: LANNETT CO.
SYMBOL: LAN
FILER: FARBER DAVID
TITLE: Director.
PURCHASED: 5/1/92-9/1/92 300 11.25-11.75
OWNERSHIP: 498 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120130
SUBJ: Singapore's FELS -4: Industry Prospects Bearish
The future for this industry is seen extremely bearish, some analysts
said, with orders for both ship repair and rig building being scaled back
everywhere.
For the past five years, analysts reckoned profit margins for rig
building hovering at around 4%-5%. 'Today, that's even smaller,' one
analyst said, adding that even had A.P. Moller taken possession of the
rig, FELS could still have made a loss.
'Building the rigs at little or no profit helped FELS to cover
overheads,' the analyst said.
In the mid-1980s, when Singapore was undergoing a recession, FELS took
the initiative to build a rig without an order from a buyer. At the end of
1985, it managed to sell it off, analysts said.
'It might still do the same with the Moller rig,' the analyst from
another U.K. brokerage said.
Keppel Corp. is the largest shareholder with a more than 51% stake.
-0- 0531GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120133
SUBJ: Japan Powerbroker Kanemaru -2: Political Fallout Unknown
TOKYO -(AP-DJ)--Shin Kanemaru formally announced his intention to resign
from parliament at a meeting of the ruling Liberal Democratic Party's
(LDP) largest faction, the Takeshita faction, Kyodo News Service and Nihon
Hoso Kyokai (NHK) reported Wednesday.
Kanemaru's resignation comes in the face of growing criticism from both
the public and LDP members after he was let off with a light fine for
accepting an illegal 500-million-yen political donation.
Kanemaru was widely considered the most influential politician in the
LDP, eclipsing even former Prime Minister Noboru Takeshita, the ostensible
leader of the Takeshita faction. Kanemaru's support is widely believed to
be the key factor that enabled the present prime minister, Kiichi
Miyazawa, to get office.
There is concern that Kanemaru's resignation will lead to the break up of
the Takeshita faction, with unknown consequences for the political balance
of power in the ruling party.
-0- 0534GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120136
SUBJ: ALL SUBSCRIBERS: In the item 'Denmark's A.P. Moller Not Taking
Singapore's FELS Rig' which ran around 0459 GMT,
please correct the first paragraph to read 'Far East Levingston
Shipbuilding Ltd. (FELS)'s confidence to sell or lease out the drilling
rig not taken by Denmark's A.P. Moller isn't shared by market players.'
(taking out the 'yet' to better convey the meaning of the story.)
-0- 0537GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120139
SUBJ: Hot Headlines: Greenspan Optimistic On Stable Prices
Greenspan Is Optimistic On Achieving Stable Prices Greenspan Says Declining Inflation Indirectly Hurting Banks
Miyazawa, Greenspan Discuss Forex, Including Euro: Aide
Dollar In Tokyo Higher; Pound Softens On Newspaper Report
UK Still Mulls Big, Early Base Rate Cut: London Times
Australian Housing Finance Approval Numbers Rose 8.3% In August, Value Rose 12.9%
Tokyo Stocks End AM Session Higher; Nikkei Up 44.03
Japan Debt Firmer On Easing Hopes; Investors On Sidelines
Quayle, Gore Debate Over Leadership, Abortion, Economy
-0- 0540GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120304
SUBJ: German Govt -2: Raised Gross DM12 Bln Bonds In September
FRANKFURT -(AP-DJ)--The German government borrowed a
net 15.11 billion Deutsche marks in the first nine months
of 1992, the Deutsche Bundesbank writes in its October
monthly report.
That's some three billion marks above Bonn's cash
deficit for that period and allowed the government to add
that surplus to its cash reserves, the bank reports.
The territorial governments markedly stepped up their
borrowing activities in September. The federal government
restricted its borrowing activities to tap sales which
met with strong buying interest amid September's hefty
bond market rally. Bonn raised a gross 12 billion marks
that way in September; after redemptions, that left a net
5 billion marks, the bank said. The German Unity Fund
raised 3.5 billion marks in September.
The territorial governments include federal, state
and local governments as well as the Unity Fund, the ERP
Special Fund and the Debt Liquidation Fund.
In August, territorial governments had borrowed some
4.5 billion marks. Although Bonn raised some 7.5 billion
marks through the issue of four-year Treasury bills, most
of that was erased by heavy redemptions. The federal
states were the biggest borrowers in August, raising 2.5
billion marks. Municipalities borrowed about 1 billion
marks that month while the Unity Fund and the ERP Special
Fund borrowed some 500 million marks each.
Other public-sector borrowers tapped the market
heavily in August. The German postal authority Bundespost
issued 5 billion marks of bonds and the Treuhandanstalt
raised some 2 billion marks. Meanwhile, the railway
agencies reduced their indebtedness slightly in August.
- - 0304EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120305
SUBJ: German Govt -3: Breakdown Of Bonn's Indebtedness
The Bundesbank provided the following preliminary
breakdown on net changes in the Bonn government's
indebtedness over the first nine months of the year, in
billions of marks:
Sept. Jan-Sept.
Zero-cpn bills (U-Schaetze) -- --
Treasury notes (Finanzierungsschaetze) up0.49 up4.02
Treasury bills (Bundesschatzanweisungen) dn0.28 up4.71
Five-year notes (Bundesobligationen) up6.74 up18.59
Fed. savings bonds (Bundesschatzbriefe) up0.01 up0.69
Bonds (Anleihen) up0.34 up2.13
Bank loans (includes Schuldscheine) dn2.45 dn13.77
Loans from social insurance funds -- up0.07
Loans from other non-banks -- dn1.20
Miscellaneous -- dn0.12
Total up4.85 up15.11
-0- 0305EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120306
SUBJ: *London Opening Gold At $344.35
-0- 0305EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120306
SUBJ: Dollar Interbank Foreign Exchange Rates In Europe
Pound 1.7110-20
Deutsche marks 1.4660-70
Swiss francs 1.3085-95
French francs 4.9760-90
Yen 121.25-.35
Lira 1295.0-1300.0
Cda 1.2390-.2400
Guilder 1.6500-10
-0- 0305EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Buys WEST SUBURBAN BANCORP INC. Stock
ISSUER: WEST SUBURBAN BANCORP INC.
SYMBOL: N/A
FILER: WEST SUBURBAN BK STK BONUS TR
TITLE: Beneficial owner.
PURCHASED: 9/15/92 1,262 199.46
OWNERSHIP: 51,426 Direct Common Class D
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120516
SUBJ: Insider Sells DATA SWITCH CORP. Stock
ISSUER: DATA SWITCH CORP.
SYMBOL: DASW
FILER: GILBERTSON ROBERT G
TITLE: President.
SOLD: 9/9-17/92 20,000 1.50
OWNERSHIP: 307,283 Direct Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys DELCHAMPS INC. Stock
ISSUER: DELCHAMPS INC.
SYMBOL: DLCH
FILER: LEWIS JESSE A
TITLE: Director.
PURCHASED: 9/14/92 1,000 19.00
OWNERSHIP: 1,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells DELAWARE OTSEGO CORP. Stock
ISSUER: DELAWARE OTSEGO CORP.
SYMBOL: DOCP
FILER: SENCHYSHYN JOSEPH G
TITLE: Officer.
SOLD: 9/23/92 750 8.50
OWNERSHIP: 722 Direct Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys ECOLOGY & ENVIRONMENT INC. Stock
ISSUER: ECOLOGY & ENVIRONMENT INC. CL A
SYMBOL: EEI
FILER: CELLINO ROSS M
TITLE: Director.
PURCHASED: 9/28/92 200 11.38
OWNERSHIP: 10,801 Indirect Common Class I
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells ENHANCED IMAGING TECHNOLOG Stock
ISSUER: ENHANCED IMAGING TECHNOLOGIES INC.
SYMBOL: EITI
FILER: STOEBER DALE E
TITLE: Officer and director.
SOLD: 9/11-15/92 17,000 8.00-9.00
OWNERSHIP: 1,941 Direct Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys ELDEC CORP. Stock
ISSUER: ELDEC CORP.
SYMBOL: ELDC
FILER: VANKOEVERING ARLAN R
TITLE: Vice president.
PURCHASED: 9/4/92 465 5.50
OWNERSHIP: 1,145 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120141
SUBJ: South Korea Will Offer 1.1 Bln In Loans To Poland, Hungary
SEOUL -(AP-DJ)--South Korea's Finance Ministry said Wednesday that it has
promised a combined 1.1 billion dlrs in loans to Hungary and Poland.
It said Korea has already disbursed 150 million dlrs of the 650 million
dollars it will send to Hungary and is discussing with the country for the
extension of a further 50 million dlrs from the South Korea Economic
Development Cooperation Funds.
The funds was created in 1987 to provide long-term and low-interest loans
to developing countries.
Among the 450 million dlrs Korea is to give Poland, 50 million dlrs will
come from the Economic Development Coopertion Funds and the remaining will
be made in the form of subsidies for Korean firms that invest or export in
Poland, said the ministry.
The ministry, reporting to the National Assembly, also said that, as of
the end of August, the former Soviet republics owe South Korea 6 million
dlrs for imports.
The ministry said it will urge Russia - which owes the majority of the
debt - to settle the sum through various diplomatic channels. The August
debt total was 3 million dlrs lower from April this year after Russia and
other republics paid down some debts.
-0- 0541GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120146
SUBJ: Headlines From London's 'Financial Times' For Wednesday
FRONT PAGE:
Anger Over Scale Of Pit Closures
Consortium Pledges Support Of 30 Mln Pnds In ITN Bid
Brussels Fails To Agree Curb On Powers
Henderson Close To Agreement On Buying Touche Remnant
FIRST BUSINESS PAGE:
MGN May Not Be Sold For Years
Fund Managers Adapt To New Imperatives
Euro Disney Payments To Parent May Be Cut
Ice Cream Maker Requests Bank To Appoint Receivers
C&J Clark Compromise Planned
-0- 0547GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Report Japan's Kanemaru Quits Parliament
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Japan 1st Half Trade Surplus $52.46B Vs Yr-Ago $39.68 Bln
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Delrina Corp. Sees 1Q Net Of 4c (Cdn) Vs Year-Ago Loss 2c
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120306
SUBJ: Australian Debt Mkts End Mostly Weaker; 3Yr Govts Yld 7.39%
SYDNEY -(AP-DJ)--Fading institutional interest coupled
with sporadic profit-taking left prices of Australian debt
instruments ending generally weaker Wednesday.
The economic data announced during the session didn't
help generate enthusiasm and traders say some market
participants were acting cautious ahead of Thursday's $700
million (Australian) treasury bond tender.
The short end of the bond market, in particular, "is
struggling," says one trader. "There's no fresh buying," he
adds.
September 1995 10 1/2% government bonds finished the day
at a yield of 7.39%, 10 basis points more than late Tuesday.
October 2002 10% government bonds yield 8.72%, six basis
points more on the day.
In the money market, 90-day bills were little changed at
a yield of 5.85%. Bank bill futures for December delivery
settled at 94.12, down 0.02 on the day.
The Bureau of Statistics said Wednesday that the number
of housing-finance approvals rose 8.3% in August from July
on a seasonally adjusted basis. The value of commitments
rose 12.9%.
The Reserve Bank of Australia announced early in the day
that credit supplied by intermediaries to the private sector
rose 0.4% in August from July but fell 1.5% in the 12 months
to August.
- - 0306EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Permanent, 90 Days
PR News Wire
PR News Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120712
SUBJ: THIS IS A TEST FOR CHANGE HEADLINE ONLY
PALO ALTO, Calif., Oct. 13 /PRNewswire/ -- Tab Products Co. (AMEX: TBP)
announced today that its Board of Directors declared its regular quarterly
cash dividend of 10 cents per share. The dividend is payable Dec. 15,
1992, to stockholders of record at the close of business Nov. 25, 1992.
Tab, which has headquarters in Palo Alto, is a leading records management
company which manufactures and markets office filing and furniture systems
that are sold worldwide. There are 4,701,950 shares of Tab Products Co.
common stock outstanding. Common shares are traded on the American Stock
Exchange under the symbol TBP.
/CONTACT: Nancy Green, assistant treasurer of Tab Products,
415-852-2572/
18:57 EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys ELCOR CORP. Stock
ISSUER: ELCOR CORP.
SYMBOL: ELK
FILER: DOW JAMES L II
TITLE: Vice president.
PURCHASED: 9/30/92 374 12.07
OWNERSHIP: 374 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells ENTERRA CORP. Stock
ISSUER: ENTERRA CORP.
SYMBOL: EN
FILER: DANIEL LEE
TITLE: Director.
SOLD: 9/29/92-10/1/92 5,000 19.00-19.25
OWNERSHIP: 24,750 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Petroleum Wire
DJ International News Petroleum Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120147
SUBJ: Japan Ruling Party Powerbroker Kanemaru Quits Parliament
TOKYO -(AP-DJ)--Shin Kanemaru formally announced his intention to resign
from parliament at a meeting of the ruling Liberal Democratic Party's
(LDP) largest faction, the Takeshita faction, Kyodo News Service and Nihon
Hoso Kyokai (NHK) reported Wednesday.
Kanemaru's resignation comes in the face of growing criticism from both
the public and LDP members after he was let off with a light fine for
accepting an illegal 500-million-yen political donation.
Kanemaru was widely considered the most influential politician in the
LDP, eclipsing even former Prime Minister Noboru Takeshita, the ostensible
leader of the Takeshita faction. Kanemaru's support is widely believed to
be the key factor that enabled the present prime minister, Kiichi
Miyazawa, to get office.
There is concern that Kanemaru's resignation will lead to the break up of
the Takeshita faction, with unknown consequences for the political balance
of power in the ruling party.
-0- 0547GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120152
SUBJ: Australian Housing Minister -2: Sees Recovery Broadening
Later Wednesday, Howe told parliament that the recovery in the housing
industry is a pointer toward an improvement outlook for the Australian
economy as a whole.
'The government can rightly point to a sustained and substantial period
of growth' in housing, Howe said.
'The reality is that we have now had a significant recovery over five
quarters. We are now looking at a very significant recovery indeed,' he
said.
'Today's housing finance figures provide optimism the housing recovery is
starting to broaden. The current low mortgage interest rates, coupled with
competitive house pricing, is making it very attractive for people to
enter into home ownership,' Howe maintained.
'The housing recovery isn't just underway, it is now consolidating so
that we see in prospect a very very substantial achievement in the housing
industry,' he said.
'Housing is an important leading indicator, and that shows signs that
where there is confidence in the economy, then we will get very
significant growth,' Howe said.
The housing data 'indicates prospects for a broader recovery in the
economy as a whole,' he contended.
-0- 0552GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: Clinton, Gore Engage In Messy Debate As Perot's Man Watches
ATLANTA -DJ- With pointing fingers and insistent interruptions, Al Gore
and Dan Quayle clashed over leadership, abortion and the economy in a vice
presidential debate denounced by James Stockdale as ''why this nation is
in gridlock.''
It was a messy affair that ended on a sharp, negative note, with
Republican Quayle looking into the prime-time camera and referring darkly
to the Democratic front-runner.
''The American people should demand that their president tell the truth.
Do you really believe Bill Clinton will tell the truth, and do you do you
trust Bill Clinton to be your president?''
President George Bush and Quayle were like ''deer caught in the
headlights'' when the recession struck, Gore charged. He pledged that he
and Clinton ''stand for change.''
The political imperative was clear for each of the three running mates:
to boost the fortunes of the man at the top of the ticket in a race that
has exactly three weeks left to run and shows Clinton with a double-digit
lead in the polls.
7:30 AM
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys ELECTRO SCIENTIFIC INDUSTR Stock
ISSUER: ELECTRO SCIENTIFIC INDUSTRIES INC.
SYMBOL: ESIO
FILER: KILBY JACK S
TITLE: Director.
PURCHASED: 9/25/92 15,000 3.75
OWNERSHIP: 26,266 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120307
SUBJ: French Central Banker -2: Cites Weaker Price Pressure
PARIS-(AP-DJ)--Bank of France Governor Jacques de
Larosiere said Wednesday he "hopes" that the downward
trend of long-term German Interest rates continues.
In a radio interview, de Larosiere, noted that
inflationary pressures in Germany are diminishing and
that the German economy is growing at a slower pace than
potential.
- - 0306EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120311
SUBJ: Dow Jones Capital Markets Report: Latest Market-Moving News
Bundesbank Casts Doubt On Maastricht Deadline (4226)
Japan's Kanemaru Quits Parliament (4205)
German Govt Borrows Net DM15.11 Bln In 9 Mths (4229)
Bundesbank Leaves August M3 Unrevised At 9.0% (4188)
Japan Posts $12.07 Bln Trade Surplus In Sept (4147)
Bundesbank:DM's Real Value Vs EMS Back At 1987 Levels (4230)
-0- 0310EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells E W SCRIPPS CO Stock
ISSUER: E W SCRIPPS CO
SYMBOL: EWSC
FILER: LESER LAWRENCE A
TITLE: President.
SOLD: 9/24/92 100 26.00
OWNERSHIP: 10,800 Indirect Common Class I
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FIRST NATIONAL BANCORP (GE Stock
ISSUER: FIRST NATIONAL BANCORP (GEORGIA)
SYMBOL: FBAC
FILER: NIX J L
TITLE: Director.
PURCHASED: 9/1/92 281 24.00
OWNERSHIP: 25,440 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells FOREMOST CORP. OF AMERICA Stock
ISSUER: FOREMOST CORP. OF AMERICA
SYMBOL: FCOA
FILER: FREY FOUNDATION
TITLE: Beneficial owner.
SOLD: 9/1-22/92 120,800 22.00-23.50
OWNERSHIP: 1,311,300 Direct Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120153
SUBJ: Headlines From 'The Times', London, For Wednesday
FRONT PAGE:
Heseltine Warns Of Worse To Come As 30,000 Pit Jobs Go
Mother Ordered To Have Caesarean Delivery
Abbey National Cuts Home Loan Rate
Fired-Up Quayle Derides Clinton In TV Debate
Booker Prize Is Shared
FIRST BUSINESS PAGE:
Big Reduction In Interest Rates Being Considered
Reuters And Carlton Head ITN Takeover Consortium
Flotation For Dorling Kindersley
Henderson To Buy Touche
Advice And Loan Costs Peg MGN Profits
-0- 0554GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120157
SUBJ: Latest -(AP-Dow Jones Features
The following -(AP-Dow Jones features, analyses and round-ups have
appeared in the last 20 hours.
Gold Seen Steady In 4Q, Bullish Hopes Deferred (1134)
Seoul Stock Market Sn Restrained By Politics In 4Q (1135)
Alitalia, Bucking Worldwide Trend, Improves Results (1140)
Spain's Inflation Confirms Economic Slowdown: Amp (1141)
(The numbers in parenthesis are Telerate numbers)
- - 0557GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120157
SUBJ: Latest Wall Street Journal Features
The following articles from Wednesday's editions of The Wall Street
Journal have appeared on -(AP-Dow Jones:
Salomon Picks Two Japanese Asian Subsidiary Leaders (1119)
HK's Securities And Futures Commission Evolving (1120)
European Parliament Seen Bidding For More Clout (1121)
Jaguar Cars To Spotlight Lower Priced 1993 Model (1122)
(Numbers in parentheses denote Telerate Page assignment)
-0- 0558GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Aide Says Miyazawa,Greenspan Discuss Forex, Including Europe
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Miyazawa, Greenspan Discuss U.S. Economic Outlook
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Aide Says Miyazawa,Greenspan Didn't Discuss Monetary Policy
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *TD Bank To Pay C$125 Mln Premium In Central Guaranty Buy
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Bundesbank Takes 53.9B Marks In 14-Day Repos At Fixed 8.9%
7:30 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *Bundesbank Says Conditions For ERM Stability Improved
7:31 AM
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells FOREMOST CORP. OF AMERICA Stock
ISSUER: FOREMOST CORP. OF AMERICA
SYMBOL: FCOA
FILER: FREY JOHN M
TITLE: Beneficial owner.
SOLD: 9/1-9/92 8,000 22.00-23.75
OWNERSHIP: 346,000 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120200
SUBJ: (WSJ): US Govt Investigating Pepsi's Ties To Importer
NEW YORK -(AP-DJ)--The U.S. Bureau of Alcohol, Tobacco and Firearms
appears to be investigating the relationship between PepsiCo Inc. and
Monsieur Henri Wines Ltd., an importing company that distributes
Stolichnaya Russian vodka for Pepsi, The Wall Street Journal reported
Wednesday.
In the past few weeks, inspectors for the bureau have interviewed some
former managers and executives of M. Henri. The inspectors have asked
questions about the business relationship between Pepsi and M. Henri and
about certain sales practices of M. Henri, according to two individuals
questioned. A third, Henry A. Schones Jr., a former M. Henri president,
confirmed he was interviewed by the BATF about two weeks ago. But, on his
attorney's advice, he wouldn't comment further.
The BATF, which is the arm of the Treasury Department that enforces
federal alcohol laws, would neiter confirm nor deny that an investigation
is under way. 'PepsiCo is not being investigated by the BATF or any state
regulatory authorities,' said Stuart Ross, a spokesman for PepsiCo Wines &
Spirits International, the PepsiCo division that supplies the vodka to M.
Henri. Ross is also a spokesman for M. Henri. When asked whether M. Henri
was being investigated, Ross said, 'We frequently have discussions with
the BATF and state regulators. We have absolutely nothing to hide.'
It is unclear exactly what federal investigators are looking for. A July
article in The Wall Street Journal reported that corporate documents and
company insiders suggested that Pepsi has a heavy hand in operations at M.
Henri, whose management and ownership have been laced with former Pepsi
managers. Both companies denied any wrongdoing.
- - 0601GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120201
SUBJ: US Govt/Pepsi -2: Pepsi, Henri Insist Importer Independent
Both companies have also insisted that M. Henri operates independently,
as required by certain state alcohol laws. But one BATF official involved
in the inquiry said the Journal story 'obviously raised some concern in
the bureau.'
M. Henri has been an integral part of Pepsi's global soft-drink
aspirations. For the past 20 years, Pepsi has had an agreement under which
it can sell Pepsi-Cola in the former Soviet Union if it imports a
proportionate amount of Stolichnaya vodka to the U.S. M. Henri has been
the sole U.S. supplier of Stolichnaya.
Pepsi had owned M. Henri until 1977, when it sold the operation to two
retired Pepsi executives. At that time, Pepsi had to divest itself of M.
Henri to comply with various state regulations barring companies that
serve alcohol from also owning liquor distributors in the U.S. Pepsi's
Pizza Hut chain serves alcohol.
Federal alcohol laws don't prohibit liquor distributors from owning
businesses that serve alcohol. Among other things, they do require
detailed disclosures of ownership, management or control of businesses,
like M. Henri, that are assigned federal permits.
-0- 0602GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
HOT
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: *U.K. Aug. Indus Production Fell Adj. 0.3% From July
7:31 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120312
SUBJ: London Early Eurodollars
Current Wednesday's Late Quotes
Overnight 3 5/8 - 1/2 (3 1/2 - 3/8 )
Tom-next 3 3/8 - 1/4 (3 3/8 - 1/4 )
Spot-next 3 5/16 - 3/16 (3 1/4 - 1/8 )
7 days 3 1/4 - 1/8 (3 1/4 - 1/8 )
1 mo 3 5/16 - 3/16 (3 1/4 - 1/8 )
2 mo 3 5/16 - 3/16 (3 1/4 - 1/8 )
3 mo 3 7/16 - 5/16 (3 7/16 - 5/16 )
4 mo 3 7/16 - 5/16 (3 3/8 - 1/4 )
5 mo 3 7/16 - 5/16 (3 3/8 - 1/4 )
6 mo 3 7/16 - 5/16 (3 3/8 - 1/4 )
9 mo 3 9/16 - 7/16 (3 9/16 - 7/16 )
1 yr 3 5/8 - 1/2 (3 5/8 - 1/2 )
-0- 0312EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120314
SUBJ: Australian Debt Mkts-2:Credit Data Confirm Recovery Slow
Economists say the latest private-sector credit data
didn't add much to the emerging picture of an economy
creeping from the depths of recession.
"It's further confirmation that the (economic) recovery
is fairly slow," says CS First Boston Australia Ltd. senior
economist Peter McManus.
While housing finance is holding up, it appears
"business credit is still heading backwards," McManus says.
Bankers Trust Australia Ltd. Chief Economist Chris Caton
says "the general view is (private-sector credit statistics)
have stopped getting worse...In that sense we've turned the
corner, but we're not strong yet by any means."
Reflecting on the latest housing-finance data, Caton
writes in commentary that "the housing sector continues to
recover, albeit at a pace that remains moderate by past
standards."
"Those who on the basis of the recent employment and
retails sales figures had rushed to the judgment that the
recovery was going away may have to think again. The slow
recovery goes on," Caton writes.
The number of people employed in Australia fell a
seasonally adjusted 43,800 in September, while retail sales
rose a more tepid than expected 0.1% in August.
-0- 0313EDT
NNNN
===EOD===
ZCZC
Product: PR, Service: CO
Temporary, 90 Days
Canada News-Wire
Canada News-Wire
Accession: 000000000000, Page:
SOURCE: RelWire
DATE: 199404120725
SUBJ: CANADA NEWSWIRE DAYBOOK FOR WEDNESDAY, OCTOBER 14, 1992 ALL TIMES
ARE LOCAL
--------------------------------------------------------------- NEW BRUNSWICK TIME: 9:00 a.m. - 5:00 p.m. EVENT: Day 1 -
Tele-Solution East : a two-day trade show and conference focusing on the
telemarketing industry LOCATION: Saint John Trade and Convention Centre, ST. JOHN
CONTACT: Helena Cain, vice president, Telemarketing Association,
506-658-7142 ---------------------------------------------------------------
ONTARIO TIME: 10:00 a.m. - 4:00 p.m. EVENT: Farmers' Market presented by the
City of Toronto and the Ontario Farm Fresh Marketing Association
LOCATION: Nathan Phillips Square, Toronto City Hall, TORONTO CONTACT: Joanne
Smale Productions, 416-363-4051
THIS IS A TEST FOR CHANGE STORY ONLY
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FIRST EASTERN CORP. Stock
ISSUER: FIRST EASTERN CORP.
SYMBOL: FEBC
FILER: DEAL FREDERICK A
TITLE: Member of a committee/advisory board
ADDRESS: SOCIETY CORP.
800 SUPERIOR AVENUE
CLEVELAND, OH 44114
PHONE: (216)622-9000
PURCHASED: 9/11/92 100 11.25
OWNERSHIP: 100 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120202
SUBJ: (WSJ): Xerox To Sell Unit To Clayton Dubilier & Rice Inc.
NEW YORK -(AP-DJ)--Xerox Corp. plans to sell its Van Kampen Merritt Cos.
money management business to the private investment firm of Clayton
Dubilier & Rice Inc. for 360 million dlrs, The Wall Street Journal
reported Wednesday.
Xerox announced the sale plan Tuesday night in response to reports about
the transaction circulating on Wall Street.
The company decided to make the sale after announcing two months ago that
it would sell as much as 38% of Van Kampen, which manages about 18 billion
dlrs in bond mutual funds, in an initial public offering aimed at raising
138 million dlrs.
But Clayton Dubilier & Rice, best known for its 1.5 billion dlrs
leveraged buy-out of the typewriter business of International Business
Machines Corp. last year, preempted the offering by bidding for the entire
business. The offering was being managed by Lazard Freres & Co. and
Wasserstein Perella & Co.
The sale is likely to generate a gain on the order of 100 million dlrs
for Xerox, based in Stamford, Conn., because Van Kampen was carried on its
books for 237.4 million dlrs as of June 30. Xerox, whose main business is
copiers and other office equipment, has been shedding some of the
financial services businesses it acquired in the 1980s.
- - 0603GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120203
SUBJ: Xerox-2: Clayton Dubilier Able To Move Quickly On Purchase
Clayton Dubilier, which manages a pool of equity capital valued at more
than 1 billion dlrs, was able to move quickly on the purchase because it
had been studying a possible acquisition of a mutual fund company built by
Sir John Templeton.
Van Kampen is known for having sold unit investment trusts during the
mid-1980s, and more recently for both closed-end and open-end bond funds.
Many of the bond funds invest in municipal bonds. Some use leverage, or
borrowing, to boost their returns.
Clayton Dubilier is working with Van Kampen's current management, led by
Chairman John C. Merritt, and expects that management and employees will
own 20% of the company's stock. Xerox will also have the right to acquire
a 10% stake in the company.
Clayton Dubilier, based in New York, plans to finance the acquisition
with 165 million dlrs in equity and 250 million dlrs in debt. It will be
assuming about 35 million dlrs in debt from Xerox connected to Van Kampen.
-0- 0603GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120203
SUBJ: Singapore Noon Rubber Settlement
Physical rubber prices quoted by the RAS Commodity Exchange at 0400gmt on October 14 1992
Buyers Sellers
Rss 2 Nov 141.00 142.00
Rss 3 Nov 137.00 138.00
Rss 4 Nov 133.50 134.50
Rss 5 Nov 130.50 131.50
ADS 158.00 160.00
SSR/SMR20 Nov 132.00 134.00
SSR/SMR20 Dec 133.00 135.00
SSR 50 Nov 130.00 132.00
SSR 50 Dec 131.00 133.00
(All Prices In Singapore Cents Per Kilo) -0- 14-10-92 Via KL 0604GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120204
SUBJ: Tohoku Electric Power Registers To Issue Bonds In Japan
TOKYO -(AP-DJ)--Tohoku Electric Power Co. registered with Japan's Finance
Ministry Tuesday to issue domestic bonds, a company official said.
The registration allows Tohoku to issue up to 650 billion yen of bonds
over a two-year period. Tohoku is one of Japan's electric power companies,
which are the premier issuers in the domestic corporate bond market.
Nippon Investors Service rates the registration a preliminary Triple-A.
-0- 0604GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FIRST EMPIRE STATE CORP. Stock
ISSUER: FIRST EMPIRE STATE CORP.
SYMBOL: FES
FILER: CONABLE BARBER B JR
TITLE: Director.
PURCHASED: 9/29/92 100 131.25
OWNERSHIP: 500 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120205
SUBJ: Hong Kong Mid-Afternoon Foreign Exchange Indications
(Quoted by Astley & Pearce Hong Kong Ltd.)
Sterling 1.7140-1.7150
W.Germany 1.4835-1.4845
Japan 121.02-121.12
Switzerland 1.3063-1.3073
Netherlands 1.6975-1.6985
France 4.9670-4.9700
Singapore 1.6090-1.6100
Canada 1.2400-1.2405
Hong Kong 7.7320-7.7330
India 3.3310-3.3315
-0- 0605GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120206
SUBJ: Australian Closing Stock Indexes
All-Ordinary Shares 1,453.8 (1,456.9)
All-Industrials 2,278.7 (2,281.6)
All-Resources 822.5 ( 825.8)
All-Mining 616.2 ( 620.0)
Oil & Gas 701.6 ( 706.2)
Gold Shares 1,048.7 (1,049.1)
(All Ordinaries at Dec. 31, 1991 at 1,651.4)
-0- 0606GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120206
SUBJ: Bundesbank Leaves August M3 Unrevised At Annualized 9.0%
FRANKFURT -(AP-DJ)--Germany's August M3 money supply growth rate was left
unrevised at an annualized 9.0% from the average of the fourth quarter of
1991, the Deutsche Bundesbank said in its October monthly report.
The Bundesbank report often contains a revised version of the rate given
the previous month. This month's report didn't contain any fresh
commentary.
M3, a broad measure of money supply, has become one of Germany's most
closely followed economic indicators. It includes cash in circulation,
most forms of savings as well as sight deposits and time deposits of less
than four years.
September data is expected to be released sometime next week.
-0- 0607GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: Today's Calendar
September producer price index (8:30 a.m. EDT)
September retail sales (8:30 a.m. EDT)
Early October domestic car sales (released throughout day).
Federal Reserve Governor Edward Kelley speaks at a lunch meeting of the
Financial Analysts of New Orleans (1:30 p.m. EDT).
Federal Reserve Chairman Alan Greenspan speaks on international banking
before the Federation of Bankers Associations of Japan, Tokyo (2 a.m.
EDT).
Federal Reserve Chairman Alan Greenspan holds news conference at the U.S.
Embassy, Tokyo (4 a.m. EDT).
Stockholders Meetings in the U.S.:
AAR Corp. (AIR)
Allstate Municipal Inc Opor Trust III (AIO)
Castle Convertible Fund Inc. (CVF)
Intercapital Ins Municipal Bond Trust (IMB)
Intercapital Qual Municipal Inv Trust (IQT)
Korea Fund Inc. (KF)
MFS Govt. Markets Income Trust (MGF)
MFS Intermediate Income Trust (MIN)
Maritrans Partners L.P. (TUG)
Sherwood Group Inc. (SHD)
Schult Homes Corp. (SHC)
USLife Income Fund Inc. (UIF)
- -
Stockholders Meetings in Canada:
Computalog Ltd. (T.CGH)
Delrina Corp. (T.DC)
- -
Partial List of Dividend Meetings:
AAR Corp. (AIR)
American Health Properties Inc. (AHE)
CBI Industries Inc. (CBH)
CML Group Inc. (CML)
CSX Corp. (CSX)
Dayton-Hudson Corp. (DH)
Dreyfus Corp. (DRY)
Helig-Meyers Co. (HMY)
International Shipholding Corp. (ISH)
Luby's Cafeterias Inc. (LUB)
Supervalu Inc. (SVU)
Walgreen Co. (WAG)
Woolworth Corp. (Z)
WPL Holdings Inc. (WPH)
- -
Analysts Meetings:
none scheduled
- -
At the Amex Club:
Cancer Treatment Holdings, Palm Beach (CTH)
Carrington Labotatories, Washington (CRN)
Telephone & Data Systems, Jacksonville (TDS)
At The Philadelphia Securities Association:
Comdisco Inc. (CDO)
7:31 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120316
SUBJ: *BOJ Seen Selling 1.5 Trln Yen Finance Bills To Drain Thur
- - 0315EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120316
SUBJ: *Frankfurt Early Dollar At DM1.4615
- - 0316EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FIFTH THIRD BANCORP Stock
ISSUER: FIFTH THIRD BANCORP
SYMBOL: FITB
FILER: KIGGEN JAMES D
TITLE: Director.
PURCHASED: 9/15/92 200 51.50
OWNERSHIP: 5,037 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FOOTHILL INDEPENDENT BANCO Stock
ISSUER: FOOTHILL INDEPENDENT BANCORP.
SYMBOL: FOOT
FILER: KRAMER TOM
TITLE: Vice president.
PURCHASED: 9/10/92 3,000 6.75
OWNERSHIP: 35,125 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120208
SUBJ: Australian Closing Stocks
INDUSTRIAL AND FINANCE
Adel Stm 0.08 ( 0.09)
Amcor 7.36 ( 7.38)
ANI 1.70 ( 1.70)
ANZ 2.80 ( 2.79)
Aust Con 0.24 ( 0.24)
BHP 11.42 (11.42)
Boral 2.80 ( 2.83)
Brambles 15.24 (15.68)
BTR Nylex 2.46 ( 2.44)
Burns P 3.46 ( 3.46)
CCAmatl 7.50 ( 7.62)
Coal All 8.84 ( 8.84)
ColesMyer 10.70 (10.74)
Comalco 3.45 ( 3.50)
CSR 3.87 ( 3.89)
CwlthBank 6.09 ( 6.10)
FAI 0.50 ( 0.51)
Foster's 1.19 ( 1.17)
Goodman 1.47 ( 1.48)
Hardie J 2.62 ( 2.62)
Jennings 0.10 (0.09)
L Lease 12.84 (12.94)
Leighton 1.43 ( 1.40)
Mayne N 6.38 ( 6.40)
Nat Aust 7.31 ( 7.31)
News Corp 24.10 (24.10)
Oakbridge 0.53 ( 0.51)
Orbital 2.55 ( 2.60)
Pac Dunlp 4.49 ( 4.45)
Pion.Int 2.44 ( 2.40)
TNT 0.83 ( 0.89)
Westpac 2.87 ( 2.89)
Wfield Hl 4.50 ( 4.62)
- - 0608GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: S&P Rates Tokyo Elec Power 7.625% Straight Bonds AAA
LONDON -DJ- Standard & Poor's Corp. said it assigned its Triple-A rating
to Tokyo Electric Power Co. Inc.'s (TEPCO) DM1 billion (about $670
million) 7.625% straight bonds (series 4) due Nov. 6, 2002.
''The triple-A ratings on TEPCO's outstanding foreign and domestic bonds
are affirmed along with the A-1-Plus rating on TEPCO's Japanese commercial
paper program. The outlook on the ratings is 'stable.''' S&P said.
''TEPCO's ratings reflect Japan's cooperative regulatory environment, the
company's position as electricity industry leader and monopoly supplier of
the nation's strongest economic area, and its importance to national
energy policy. The company is the world's largest privately owned
electric utility and serves the Tokyo metropolitan area, supplying about
30% of Japan's total electricity demand. TEPCO is a key participant in
the nation's economy and energy policy, the first priority of which is
energy supply security, given the nation's dependence on imported energy
sources. Japan's utilities are supported by a highly cooperative
relationship with the Ministry of International Trade and Industry (MITI),
which regulates the industry, overseeing timely rate adjustments and
national coordination of energy supply and demand.
''TEPCO plays a leading role in consulting with MITI about capital
expenditures, rate setting, nuclear power, and environmental issues for
the entire industry. The company's generation mix emphasizes efficiency
and environmental soundness, in which Japan compares relatively favorably
to other industrialized countries. Liquefied natural gas now supplies
over a third of TEPCO's generation and has improved the company's fuel
supply position. In spite of the recent emergency shutdown of a unit at
its Fukushima nuclear facility, TEPCO's record of nuclear operations
remains relatively good (35% of generation).
''Recent profitability weakness due to lower electricity rates and higher
fossil fuel prices is not expected to be sustained. Leverage, very high
compared to peers outside Japan, is not unusual for the Japanese industry,
reflecting high investment spending required by rapid demand growth.
Existing agreements to purchase power from other electricity generators
with excess capacity should help alleviate demand pressures. Over the
longer term TEPCO still expects to be able to incorporate significant new
capacity into its rate base,'' S&P said.
7:31 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: Park Natl Corp. Earnings-2-: 3Q, 9 Mos Fincl Tables >PARK
Quar:
1992 1991
Net income $4,449,000 $3,992,000
Shr ern
Net income 1.26 1.11
9 Months:
Net income 12,990,000 11,963,000
Shr ern (primary):
Net income 3.67 3.38
7:31 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: Japan's NIS Rates Haseko Bonds Prelim Single-A-Minus
TOKYO -DJ- Nippon Investors Service assigned a Single-A-Minus rating to
the Japanese bond registration of Haseko Corp., the rating agency
announced.
On Sept. 30 Haseko registered with Japan's Finance Ministry to issue up
to 120 billion yen of bonds in Japan for a two-year period. Last week the
Japan Bond Research Institute also rated Haseko's registration a
preliminary Single-A-Minus.
Next week Haseko is expected to offer a total of 40 billion yen of bonds
in the domestic market, underwriters say. If the Tokyo-based condominium
builder does offer bonds it will be the first issue of the registration.
7:31 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120318
SUBJ: *World Bank Prices 225B Yen 5Y Global As 4.5% At 99.80 Via Daiwa,
Nomura, Goldman; Govt. Plus 0.25
- - 0318EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120319
SUBJ: Persian Gulf Crudes Stable From Late Tues. U.S. Prices
TOKYO -(AP-DJ)--Mideast crudes in Wednesday's Asia
are mostly steady at prices seen late in the U.S. on the
previous day, said traders.
With no new fundamental news to spur the Asian market,
traders pointed to the decreases in New York prices as
the Texaco Inc. 100,000 barrel-a-day (b/d) refinery was
reported to restart partially by next week. The
California refinery suffered damages from an explosion
in the catalytic reforming unit last week.
In addition, western markets were softer in the
previous day because of the report by the Organization of
Petroleum Exporting Countries that production in
September had exceeded their market share agreement of
24.2 million b/d, at 24.93 million b/d. Iranian reports
that the country's crude production was up to 4.0 million
was still causing bearish sentiment in the market as
well, said market players.
December Dubai is at $18.55-18.60 per barrel, mostly
unchanged from the late New York levels on Tuesday. In Asia
a day earlier, December Dubai was at $18.65.
January Dubai is at $18.45, with Dubai cargoes in
backwardation for the winter months.
-0- 0318EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120320
SUBJ: *Fed's Greenspan Says Dramatic Rise In U.S. Economic Growth Not
Feasible Nor Desirable
- - 0319EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells EMERGING GERMANY FUND INC. Stock
ISSUER: EMERGING GERMANY FUND INC., THE
SYMBOL: FRG
FILER: DRESDNER BANK AG
TITLE: Beneficial owner.
SOLD: 9/3-22/92 70,000 7.69-8.50
OWNERSHIP: 35,000 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120209
SUBJ: -(AP-Dow Jones World News Summary
Kyodo reports Japan ruling party powerbroker Kanemaru quits parliament
Gorbachev allowed temporary travel; seeks private court date
U.N. team arrives in Georgia; Shevardnadze declared leader
Bush, top officials lobbied for tank sale to Kuwait
Quayle, Gore debate over leadership, abortion, economy
Polls after US vice-presidential debate favor Democrat Gore Poll finds 50%
favored Gore, 32% Quayle, 7% Stockdale
Venezuela defense minister says army may include some rebels
N.Z.'s central banker says local economy set to grow
Seoul suspends inter-Korea economic cooperation
Kuwaiti emir reappoints crown prince prime minister
-0- 0609GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120209
SUBJ: S. Korea's Bank of Korea Lowers Repo Rates
SEOUL -(AP-DJ)--South Korea's central Bank of Korea Wednesday lowered
interest rates for repurchase agreements by 0.5% points to an annual rate
of 13%.
The cut was made in line with the lower market interest rates, the
central bank said.
Interest rates of repurchase agreements, which are issued by the central
bank for the purpose of liquidity control, are the ones the central bank
charges on its loans to domestic banks.
-0- 0610GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120731
SUBJ: Time Magazine -2-: Alleges Infringement Of Copyright Laws
NEW YORK -DJ- Time Magazine, p;ublished by Time Warner Inc., (TWX) said
it is filing suit against the Bush/Quayle 92' campaign for infringement of
copyright, trademark and other laws, charging that the campaign is making
unauthorized use of Time's April 20, 1992 cover ''Why Voters Don't Trust
Clinton'' in a television commercial.
In a press release, the company said that after the Bush/Quayle
advertisement first aired Sunday, Oct. 11, lawyers for Time Inc., Time's
parent company, sent a letter to the campaign insisting that they
''immediately cease and desist from any further broadcast, telecast or
other use of the commercial.'' The magazine protested that ''the implicit
suggestion of the commercial that Time endorses its contents is extremely
damaging to Time's reputation and makes this infringement of Time's rights
all the more serious.''
A lawyer for the Bush/Quayle campaign responding to Time's demand refused
to pull the advertisement. As a result, lawyers for Time Inc. are filing
suit in Federal District Court in Washington, D.C. Henry Muller, the
magazine's managing editor, said, ''This is a serious distortion of our
journalism. From time to time we've done critical covers on all three
candidates, and we object to the implication that we are taking sides.''
Time Inc is a unit of Time Warner Inc. (TWX).
7:31 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120732
SUBJ: Linear Tech Split, Div -2-: Split Record Date Nov. 3 >LLTC
MILPITAS, Calif. -DJ- Linear Technology Corp. (LLTC) said its board has
approved a two-for-one common stock split, subject to shareholder approval
of a proposed increase in the company's authorized common stock at the
annual shareholders meeting Oct. 28.
Certificates reflecting the split will be distributed on Nov. 24 to
shareholders of record on Nov. 3.
The stock split will increase the number of common shares outstanding
from about 17,500,000 to approximately 35,000,000.
The company also said its plans to start paying quarterly cash dividends
of 5 cents a share on a post-split basis, based on quarterly financial
performance. The initial dividend will be paid on Dec. 11 to shareholders
of record as of Nov. 25.
7:31 AM
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120210
SUBJ: Australian Closing Stocks -2:
MINING AND OILS
Ampolex 4.02 ( 4.03)
Ashton 1.37 ( 1.35)
Bougainvl 0.40 ( 0.40)
Bridge 0.48 ( 0.48)
Cent Pac 0.70 ( 0.70)
CN Gold 0.38 ( 0.38)
CRA 11.58 (11.76)
Crusader 0.90 ( 0.86)
ERA 1.14 ( 1.14)
GM Kalg 0.90 ( 0.89)
Magellan 2.75 ( 2.75)
MIM 2.68 ( 2.67)
Newcrest 2.27 ( 2.34)
NormdyPos 1.07 ( 1.07)
North BH 1.90 ( 1.90)
Pancont M 0.88 ( 0.88)
Pasminco 1.34 ( 1.30)
Placr Pac 2.17 ( 2.20)
RGC 3.84 ( 3.90)
Santos 2.70 ( 2.72)
Sthn Pac 0.28 ( 0.28)
WMC 4.14 ( 4.15)
Woodside 3.72 ( 3.78)
-0- 0610GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Financial Wire ('World Equity Report')
DJ International News Financial Wire ('World Equity Report')
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120210
SUBJ: -(AP-Dow Jones Corporate And Economic News Summary
Bank of N.Z. meeting to clarify bid by National Australia
Australia's Button endorses Campbell bid for Arnotts
Xerox to sell Van Kampen Merritt Cos. to Clayton Dubilier & Rice Inc. for 360 million dlrs
GM chairman Stempel hospitalized in Washington with undisclosed illness
IBM Japan considers selling its own low-cost computers
British Airways softens report: wants 35% stake in Qantas
Salomon Brothers picks two Japanese as Asian subsidiary heads
N.Z.'s Electricorp, Citibank launch 200-mln-NZ-dlr issue
Denmark's A.P. Moller not taking Singapore's FELS rig
-0- 0611GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120732
SUBJ: *Acclaim Entertainment 4Q Net 19c A Shr Vs 3c >AKLM
7:32 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120733
SUBJ: Table Of Stock Indexes; Tokyo, Frankfurt,London, Paris
Index Latest Prev Change % Chg
Close
Nikkei c-17344.03 17490.67 dn 146.64 0.8
DAX (Fkft) 1457.58 1465.50 dn 7.92 0.5
FT-SE 100 2567.3 2584.7 dn 17.4 0.7
CAC40(Paris) 1671.6 1685.0 dn 13.4 0.8
c-Closed.
7:32 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120733
SUBJ: Tokyo Stocks End Mixed -2-: Sell-Off During Final Hour
TOKYO -DJ- okyo stocks ended mixed but the Nikkei index plunged nearly
300 points during the final hour of trading to end at its session low.
Dealers attributed the sell-off at day's end to index-linked arbitrage,
and said the fall was only coincidental with top Japanese powerbroker Shin
Kanemaru's announcement that he would resign from parliament to take
responsability for a recent scandal.
The Nikkei, which tracks 225 selected issues, fell 146.64 points, or
0.84%, to 17,344.03. The index rose 188.66 points yesterday, and closed
the 1991 trading year at 22,983.77.
Brian Tobin, general manager of equity sales at S.G. Warburg Securities
(Japan) Inc., said participants are disappointed with the failure of
positive news to emerge from U.S. Federal Reserve Chairman Alan
Greenspan's meetings with Japanese monetary officials during the week. He
said the market was largely anticipating at least ''some whisper of a
concerted (U.S.-Japanese) rate cut.''
Advancing issues narrowly outnumbered retreating issues 494 to 414, while
183 issues were unchanged.
Volume on the First Section of the Tokyo Stock Exchange was estimated at
250 million shares, up from 204.98 million shares yesterday.
7:33 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120734
SUBJ: Debate -2-: Polls Favor Gore, Little Impact Seen On Race
Viewers polled after the vice presidential debate reacted more favorably
to Al Gore than to his two opponents, but there was no evidence he won any
votes for his ticket.
A poll for ''Dateline NBC'' found 50% of viewers thought Democrat Gore
did the best job in the debate, 32% liked Republican Dan Quayle and just
7% gave top rank to independent candidate James Stockdale.
An ABC News poll asked who won, and Gore barely edged out Quayle, 38% to
35%, with 17% calling it a tie and 2% saying Stockdale won.
ABC said fewer people were undecided about their presidential choice
after the debate, but the standings did not change much; 47% for Bill
Clinton, up one point, 38% for President Bush, up three points and 12% for
Ross Perot, unchanged.
Quayle not only helped his ticket slightly more than Gore did, but the
35% who thought he won compared favorably with the 18% who thought Bush
won after Sunday's leadoff debate.
The 38% who thought Gore won could be interpreted as a disappointment
because it fell well below Clinton's share of the presidential preference,
said ABC polling director Jeff Alderman.
7:33 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120734
SUBJ: London Morning Gold -2-: Zurich Gold At $343.45-$343.95
LONDON -DJ- Gold was fixed this morning at $343.30 an ounce, down 45c
from yesterday's afternoon fixing.
Gold was quoted at $344.10-$344.60 at today's opening and $343.40-$343.70
at yesterday's close. After this morning's fixing, gold was quoted at
$343.45-$343.95.
-V-
ZURICH -DJ- At noon, gold was quoted at $343.45-$343.95 an ounce vs
$343.70-$344.20 at the opening and $343.75-$344.25 at yesterday's close.
7:34 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120320
SUBJ: Japan Steel Output-2: Auto, Electric Sector Demand Weak
Looking ahead, the federation spokesman said he hopes
there will be some positive impact on steel output from
the government's March emergency package which pledged to
allocate about 75% of spending for public works in the
budget for this fiscal year in the first half ended Sept.
30. If the pace of decline in steel production comes
closer to 5% from year-earlier levels in the
October-December quarter, he said, he will be able to
acknowledge a favorable impact on steel output due to
steady implementation of the "front-loading."
In addition, the conclusion of a steel export
contract with Russia which will total 350,000 metric
tons to help develop natural gas projects, suggests a
bright spot to lift steel production during the current
quarter. As the contract with Russia calls for shipment
of steel products to start from the beginning of 1993, he
said the contracts may serve as a factor to raise
production.
However, he said a recovery in steel output due to a
pick up in demand from steel firms' clients such as the
auto industry must wait until next spring.
MITI's latest quarterly forecast called for Japan's
production of steel in the October-December quarter to
come to 24.90 million metric tons, down 4.3% from the
corresponding period a year ago. If the ministry's
prediction proves correct, the nation's steel output
would sink below 25.00 million metric tons for a fourth
consecutive quarter. The ministry's prediction at the
same time suggested that total production for 1992 may
come to 97.70 million metric tons, falling short of 100
million metric tons for the first time since 1987, when
steel output totaled 98.512 million metric tons.
-0- 0320EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120320
SUBJ: *Fed's Greenspan Says U.S. Economic Growth Extremely Moderate But
Still Growing
- - 0320EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FIRST USA INC. Stock
ISSUER: FIRST USA INC.
SYMBOL: FUS
FILER: BISHOP GENE H
TITLE: Director.
PURCHASED: 9/30/92-10/1/92 10,000 12.75
OWNERSHIP: 20,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys FIRST WESTERN FINANCIAL CO Stock
ISSUER: FIRST WESTERN FINANCIAL CORP.
SYMBOL: FWES
FILER: TROUNDAY ROGER S
TITLE: Director.
PURCHASED: 9/24/92 1,000 4.88
OWNERSHIP: 7,700 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120735
SUBJ: London Silver Lower At Opening
LONDON -DJ- Silver was quoted at $3.70 to $3.72 an ounce at the opening,
down from $3.72 to $3.73 an ounce late yesterday.
7:34 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120735
SUBJ: Swiss Natl Bank Lombard Rate Flat At 8.000%
ZURICH -DJ- The Swiss National Bank set its Lombard rate for today at
8.000%, flat with yesterday's rate of 8.000%.
7:35 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120737
SUBJ: Media Vision -2-: Sees Price Between $11-$13 A Share
FREMONT, Calif. -DJ- Media Vision Inc. said it filed a registration
statement with the Securities and Exchange Commission relating to the
proposed initial public offering of two million common shares.
The company said it is currently anticipated that the initial public
offering price will be between $11 and $13 a share. The company will have
about 10,215,000 shares outstanding after the offering.
Montgomery Securities and Cowen & Co. will co-manage the offering.
Media Vision Inc., based here, designs, manufactures and markets
innovative and affordable multimedia computing products that add enhanced
sound capabilities to International Business Machines Corp. (IBM) PC and
compatible personal computers.
7:37 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120321
SUBJ: RPT:Japan Steel Output-2:Auto, Electric Sector Demand Weak
Looking ahead, the federation spokesman said he hopes
there will be some positive impact on steel output from
the government's March emergency package which pledged to
allocate about 75% of spending for public works in the
budget for this fiscal year in the first half ended Sept.
30. If the pace of decline in steel production comes
closer to 5% from year-earlier levels in the
October-December quarter, he said, he will be able to
acknowledge a favorable impact on steel output due to
steady implementation of the "front-loading."
In addition, the conclusion of a steel export
contract with Russia which will total 350,000 metric
tons to help develop natural gas projects, suggests a
bright spot to lift steel production during the current
quarter. As the contract with Russia calls for shipment
of steel products to start from the beginning of 1993, he
said the contracts may serve as a factor to raise
production.
However, he said a recovery in steel output due to a
pick up in demand from steel firms' clients such as the
auto industry must wait until next spring.
MITI's latest quarterly forecast called for Japan's
production of steel in the October-December quarter to
come to 24.90 million metric tons, down 4.3% from the
corresponding period a year ago. If the ministry's
prediction proves correct, the nation's steel output
would sink below 25.00 million metric tons for a fourth
consecutive quarter. The ministry's prediction at the
same time suggested that total production for 1992 may
come to 97.70 million metric tons, falling short of 100
million metric tons for the first time since 1987, when
steel output totaled 98.512 million metric tons.
-0- 0321EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120323
SUBJ: Tokyo Stocks -3: Lion Leads Volume, 8.24 Million Shares
The Tokyo Stock Price Index (Topix) of all issues
listed in the First Section, which added 10.91 points
Tuesday, lost 1.34 points, or 0.10%, to 1,318.90.
The Second Section Index, which gained 6.08 points
Tuesday, climbed another 5.97 points, or 0.35%, to close
at 1,699.96.
Volume in the Second Section was estimated at 3
million shares, essentially flat from 3.186 million
shares Tuesday.
Speculative shares and large capital issues
monopolized the most actives list Wednesday.
The day's volume leader was personal-care products
maker Lion, which rose 14 yen to 635 yen, with 8.24
million shares changing hands. The company has developed
a new over-the-counter pregnancy test for the Japanese
market, dealers said. The issue, they said, being bought
heavily by a U.S. hedge fund and one local brokerage.
- - 0322EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120324
SUBJ: *Fed's Greenspan Says Can't Make Precise Judgement AS To When
Economy"s Acceleration Will Occur
- - 0324EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120325
SUBJ: *Greenspan Says Adjustmejt Of Debt Overload Has Taken Much Longer
Than "Many Of Us Expected"
- - 0324EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys GRAHAM CORP. Stock
ISSUER: GRAHAM CORP.
SYMBOL: GHM
FILER: EHRMAN WILLIAM
TITLE: Officer and beneficial owner.
PURCHASED: 9/28/92 200 13.75
OWNERSHIP: 105,600 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells GENENTECH INC. Stock
ISSUER: GENENTECH INC.
SYMBOL: GNE
FILER: LYONS GARY
TITLE: Vice president.
SOLD: 9/23/92 3,000 35.00
OWNERSHIP: 17,499 Direct Common
COMMENT: Open Market Sale
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120210
SUBJ: -(AP-Dow Jones World News Summary -2-
U.S., allies weigh use of military force against Serbs, accusing Serbs of bombing raids against Bosnian Muslims
Rumors of impending civil war in Angola spur diplomats to press forward in
struggle to preserve peace
UN officials travel to Iraq to assess impact of sanctions
Kazakhstan official denies report by Iranian opposition group that Tehran
bought 4 nuclear warheads from Kasakhstan
Ukrainian parliament overwhelmingly votes to make head of country's biggest defense plant the new prime minister
New Thai govt to lift the ban on state enterprise labor unions, Prime
Minister Chuan Leekpai reportedly said
UN conference pledges 100,000 tons of food for Somalia
-0- 0611GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120737
SUBJ: Tokyo Stocks End Mixed -3-: Topix Falls 0.10%
The Tokyo Stock Price Index (Topix) of all issues listed in the First
Section, which added 10.91 points yesterday, lost 1.34 points, or 0.10%,
to 1,318.90.
The Second Section Index, which gained 6.08 points yesterday, climbed
another 5.97 points, or 0.35%, to close at 1,699.96.
Volume in the Second Section was estimated at 3 million shares,
essentially flat from 3.186 million shares yesterday.
Speculative shares and large capital issues monopolized the most actives
list today.
The day's volume leader was personal-care products maker Lion, which rose
14 yen to 635 yen, with 8.24 million shares changing hands. The company
has developed a new over-the-counter pregnancy test for the Japanese
market, dealers said. The issue, they said, was being bought heavily by a
U.S. hedge fund and one local brokerage.
7:37 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120325
SUBJ: Japan's Trade Surplus -4: Adjusted Surplus Up From Aug.
Unadjusted exports to the U.S. in September totaled
$9.03 billion, up 5.8% from $8.54 billion a year earlier.
Japan's imports from the U.S. totaled $4.19 billion, up 5.8%
from $3.96 billion.
The unadjusted surplus with the U.S. for September was
up 54% from the August surplus, while exports were up 22%
and imports were down 1.2%. For August the unadjusted
surplus with the U.S. was $3.14 billion, up 6.4% from $2.95
billion a year earlier, with exports totaling $7.38 billion
and imports $4.24 billion. The ministry revised the August
unadjusted surplus from $3.51 billion, with exports
originally reported at $7.74 billion and imports at $4.23
billion.
After adjustment for seasonal factors, Japan's overall
trade surplus in September amounted to $9.36 billion, up 13%
from $8.29 billion in August. Exports came to $30.14
billion, up 8.4% from $27.82 billion. Imports stood at
$20.78 billion, up 6.4% from $19.53 billion. The ministry
revised the August adjusted surplus from $8.74 billion, with
exports originally reported at $28.23 billion and imports
at $19.48 billion.
The month-to-month rise in the September overall
adjusted trade surplus follows the 2.8% decrease in the
August surplus from the $8.53 billion in July.
The ministry doesn't provide adjusted figures for trade
with individual countries.
- - 0325EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120327
SUBJ: *Greenspan: Fed's Policy Objective Since 1989 To Stretch Out
Adjustment of Debt Overload, Preserve Some Econ. Growth
- - 0327EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120327
SUBJ: World Bk Prices 225B Yen 5Y Global -2: Fees Total 1/4
LONDON -(AP-DJ)--The World Bank has priced its 225
billion yen global bond offering, due Dec. 22, 1997, as 4.5%
at a fixed initial price of 99.80, joint lead underwriters
Daiwa Europe Ltd., Nomura International plc and Goldman
Sachs International said.
The bonds yield 4.55% at the reoffer price, a margin of
25 basis points above the Japanese government's 5% No. 105
bonds. The indicated range was between 24 and 26 basis
points.
The borrower's outstanding senior debt is rated Triple-A
by Moody's Investors Service Inc. and by Standard & Poor's
Corp.
Gross commissions are 1/4 point, comprising 0.20 point
as a selling concession and 0.05 for management and
underwriting combined.
The Luxembourg-listed bonds are denominated in 100,000
yen in registered form only.
Settlement is due Oct. 28 and there is a short initial
coupon period. Interest is payable annually thereafter.
-0- 0327EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys GRAPHIC INDUSTRIES INC. Stock
ISSUER: GRAPHIC INDUSTRIES INC.
SYMBOL: GRPH
FILER: POPE MARK C III
TITLE: Chairman of the board.
PURCHASED: 9/28/92 500 5.00
OWNERSHIP: 1,069,177 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:06
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys GROUND ROUND RESTAURANTS I Stock
ISSUER: GROUND ROUND RESTAURANTS INC.
SYMBOL: GRX
FILER: TERHUNE DAVID N
TITLE: Shareholder.
PURCHASED: 9/15/92 4,000 6.38
OWNERSHIP: 4,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys CAMBRIDGE HOLDINGS LTD. Stock
ISSUER: CAMBRIDGE HOLDINGS LTD.
SYMBOL: N/A
FILER: PUSEY GREGORY S
TITLE: Officer, director and beneficial owner.
PURCHASED: 9/14/92 200 0.25
OWNERSHIP: 1,096,711 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Financial Wire ('World Equity Report')
DJ International News Financial Wire ('World Equity Report')
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120211
SUBJ: -(AP-Dow Jones Corporate And Economic News Summary -2-
General Electric reports its 3rd Qtr Net 1.30 dlrs/share, compared with 1.20 dlrs/share in the year-ago period
Procter & Gamble exects record sales, earnings in 1st qtr
BMW Of North America raises '93 model average prices 4.5%
Mercedes Benz raises price of 1993 Class 300 up 2%
Honeywell Inc. 3Q oper net 2.54 dlrs per share, compared with 1.13 dlrs per share in the year ago quarter
Italian state electricity utility ENEL to buy 4 bln cubic meters of gas
per year from Algeria's state Sonatrach
Time Warner files shelf for 1.375 bln dlrs of debt
-0- 0612GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120212
SUBJ: S. African Steel Workers Reach Wage Agreement
JOHANNESBURG -(AP-DJ)--After seven months of negotiations and strikes,
South African steelworkers reached an agreement with employers calling for
a 9.1% increase in wages backdated July 1, 1992.
The Steel and Engineering Industries Federation of South Africa (Seifsa)
agreed to resist from compelling employers to negotiate additional
increases at plant level.
Seifsa general secretary Tommy Oliphant said the agreement, which
followed a four-week strike earlier this year, failed to guarantee unions
work security in an industry that has seen over 60,000 layoffs in the last
18 months.
'The trade unions were disadvantaged by the economy this year. The
employers knew this and that was why they were prepared to sit out
strikes. This isn't an agreement we can be jubilant about,' said Les
Kettledas, general secretary of the National Union of Metalworkers of
South Africa (Numsa), an umbrella labor organization that includes Seifsa.
South Africa is expected to report its fourth straight yearly drop in
gross domestic product (GDP) in 1992, partly as a result of the drought.
Inflation has averaged 15% this year and unemployment is over 42%, its
highest level since World War II.
-0- 0613GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120330
SUBJ: BOJ Seen Selling 1.5 Trln Yen Finance Bills To Drain Thur-2-
TOKYO -(AP-DJ)--The Bank of Japan is selling 1.5
trillion yen of financing bills through repurchase
agreements that begin Thursday, when the cash from the
sale will drain from the market, the central bank
announced.
The RPs will unwind Nov. 15. Thursday's market is
estimated to have an initial surplus of 2.24 trillion yen,
but with the financing bill sale the market should end
with a deficit of 2.16 trillion yen if the Bank of Japan
doesn't conduct any other money market operations to take
effect Thursday.
The rate on the RPs is 4.0316%. Financing bills are
short-term government securities.
-0- 0330EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120331
SUBJ: *Zurich Opening Gold At $343.95
-0- 0331EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys URT INDUSTRIES INC. Stock
ISSUER: URT INDUSTRIES INC.
SYMBOL: X.URT
FILER: JACKOWITZ DAVID
TITLE: Officer and director.
PURCHASED: 9/1/92 1,875 0.20
OWNERSHIP: 320,850 Direct Common Class D
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120214
SUBJ: N.Z. Shares-2: BNZ Steady; Meeting On Takeover Scheduled
Bank of New Zealand Ltd. (BNZ), New Zealand's largest commercial bank,
closed level at 78 cents.
Earlier Wednesday BNZ said that it will hold a special meeting of
shareholders Oct. 30 to clarify certain aspects of a takeover bid for the
bank that has been made by National Australia Bank Ltd. (NAB).
The decision to hold the meeting follows the receipt of a petition from
shareholders, BNZ said in a statement.
Under New Zealand stock exchange rules, shareholders can petition a
company to hold a special meeting. The petition requires the support of at
least 100 shareholders.
BNZ said the object of the Oct. 30 meeting will be to seek information on
the profit performance of the bank to Sept. 30 and its future
profitability, and to discuss certain aspects of the proposed takeover by
NAB.
Meanwhile, forestry concern Carter Holt Harvey Ltd. fell 3 cents to 2.34
NZ dlrs. One broker contended that several sharebroking firms had eased
their year-ahead earnings forecasts for Carter.
The broker also speculated that some recent weakness in the share price
for forestry and resources conglomerate Fletcher Challenege Ltd. was
hurting sentiment for other local stocks that have cyclical earnings such
as Carter.
-0- 0615GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120217
SUBJ: *NIKKEI STOCK AVERAGE 17,344.03 (17,490.67)
-0- 0617GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120218
SUBJ: -(AP-Dow Jones Economic, Business And Banking News Summary
Dollar in Asia at 0615 GMT: 121.15 yen, 1.4655 marks, up from 121.10 yen, 1.4640 marks late Tuesday in New York
Nikkei stock index closes at 17,344.03 points, down from 17,490.67 points
Tuesday
Fed Chairman Greenspan is optimistic about achieving stable prices but says declining inflation indirectly hurting banks
Japan corporate insolvencies jumped 35% in Sept. from year earlier;
insolvent companies left behind 706.7 bln yen in debt Sept., up 25% from
year before
S. Korea banks make cut in deposit rates
N.Z.'s M3 money supply up 1.0% in Aug from July; M1 dn 0.5%
Australian credit rose a seasonally adjusted 0.4% in August from July but fell 1.5% over 12 months
Japan's Miyazawa, U.S.'s Greenspan meet, discuss foreign exchange,
including European currencies
GATT report criticizes Japan's agricultural policy
S Korea will offer 1.1 bln dlrs in loans to Poland, Hungary
N.Z. finance minister says low inflation good for recovery
N.Z.'s Bolger calls for multilateral economic alliances
London Times reports UK still mulling big, early base rate cut
US workers more productive than workers in Japan, Germany, study says
Venezuela and Caribbean nations sign trade pact
Seoul suspends inter-Korea economic cooperation
S Korean govt report says unified Korea's energy dependency would drop to 63% in unification occurs now
-0- 0618GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120737
SUBJ: *Japan 1st Half Trade Surplus $52.46B Vs Yr-Ago $39.68 Bln
7:30 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120332
SUBJ: *Sweden's Riksbank Cuts Key Lending Rate To 15.5% From 16.5%
- - 0331EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys HUNTINGTON BANCSHARES INC. Stock
ISSUER: HUNTINGTON BANCSHARES INC.
SYMBOL: HBAN
FILER: GERLACH JOHN B
TITLE: Director.
ADDRESS: HUNTINGTON BANCSHARES INC.
41 SOUTH HIGH STREET
P.O. BOX 1558
COLUMBUS, OH 43287
PHONE: (614)476-8300
PURCHASED: 9/27/92 1,000 19.38
OWNERSHIP: 404,750 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys HUNTINGTON BANCSHARES INC. Stock
ISSUER: HUNTINGTON BANCSHARES INC.
SYMBOL: HBAN
FILER: GERLACH JOHN B
TITLE: Director.
ADDRESS: HUNTINGTON BANCSHARES INC.
41 SOUTH HIGH STREET
P.O. BOX 1558
COLUMBUS, OH 43287
PHONE: (614)476-8300
PURCHASED: 9/27/92 1,000 19.38
OWNERSHIP: 131,000 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120220
SUBJ: M.I.M. Of Australia -2: Higher Sales Volumes, Prices
M.I.M. said that its after-tax profit from operations, before accounting
for exchange rate losses and profits from outside equity interests soared
to 34.5 million AUS dlrs from 3.5 million AUS dlrs a year earlier.
'The first quarter result was positively influenced by metal prices which
were mostly better than in the first quarter last year, and lower
operating costs,' M.I.M. said in a statement.
It said the increase in sales revenue reflected higher prices received
for all products except silver and gold, and higher sales volumes for all
products except copper and coal from the Oaky Creek mine.
Average prices the quarter were 23% higher for copper, 12% higher for
lead and 59% higher for zinc. The higher prices were partly in response to
a weaker Australian dollar.
M.I.M. said its Mount Isa mine production of anode copper fell to 39,090
metric tons from 42,610 tons due to continued abnormally high smelter shut
down time due to adverse wind direction. However output of refined copper
from that mine rose to 262 tons from 247 tons. Anode copper output from
the Townsville mine rose to 14,112 tons from 9,695 tons, while refined
copper production rose to 45,621 tons from 43,553 tons.
-0- 0620GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120222
SUBJ: -(AP-Dow Jones Economic, Business And Banking Summary -2-
New York stocks end up; Dow Jones Industrial Average rises 27.01 points to 3,201.42; advancing issues lead declines by 1,017 to 703; volume: 184.6 (126.6)
U.S. Treasuries end mixed; Dow Jones 20 Bond Average of industrial, public
utility bonds 0.01 point higher at 102.46
New York spot gold ends 1.45 dlrs lower, closing at 344.00-344.50 dlrs an ounce (345.45-345.95); London late quote: 343.40-343.70 (345.90-346.20)
New York crude oil futures end dn; November light sweet crude settled at
22.09 dlrs/b, dn 21 cents/b from Monday
U.S. retail sales in 1st week of Oct up 1.2% from all-Sept.-avg; up 8.9% from yr-ago, Johnson Redbook reports
N.Z. CPI rose 0.3% In Sept. Qtr, Up 1.0% Over 12 Months; rises conform to
market expectations
Germany's Coal Imports Up 5% In First Eight Months
British Coal To Shut 31 Mines, Cut 30,000 Jobs
Romania's Iliescu Says Price Liberalization May Be Delayed
-0- 0623GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120737
SUBJ: *NEC, AT&T Unit Form Microchip Joint Venture >T
7:37 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120739
SUBJ: Nihon Unisys Offering Two Eurobond Issues Worth 20B Yen
LONDON -DJ- Nihon Unisys Ltd., a computer sales joint venture, is
offering two Eurobond issues totaling 20 billion yen.
A 10 billion yen issue of 5.55% Eurobonds due Jan. 28, 2000, at an issue
price of 101.5 is being reoffered at par via lead underwriter Nomura
International.
Commissions total 1 7/8 points, comprising 1.70 points as a selling
concession and 0.175 point for underwriting and management combined.
Another 10 billion yen of 5.35% bonds due Jan. 28, 1998, is being issued
at 101.625 and reoffered at 100.05 via Yamaichi International.
Commissions total 1 7/8 points, comprising 1.75 points as a selling
concession and 0.125 point for underwriting and management combined.
Both issues are listed in Luxembourg in denominations of 10 million yen.
Settlement is due Oct. 28 for both deals and there is a short first
coupon on both.
7:39 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120333
SUBJ: *Swiss National Bank Lombard Rate 8.000% Vs. 8.000%
-0- 0333EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120334
SUBJ: *Opening FT-SE 100-Share Index 2583.6 down 1.1
-0- 0333EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120336
SUBJ: N.Z. Dollar Closes Slightly Higher In Moderate Trading
WELLINGTON -(AP-DJ)--The New Zealand dollar closed
slightly higher in moderate trading Wednesday, with local
dealers expecting the domestic currency to consolidate
around current levels.
"The dollar traded in a gentle range today and didn't
do too much at all," an Auckland-based dealer said.
"It's moved up a little in the last couple of days and
is just consolidating on that at the moment," the dealer
said.
Late Wednesday, the New Zealand dollar was quoted at
0.5428 U.S. dollar, just up from 0.5424 U.S. dollar late Tuesday
in Wellington, but down from its local open at 0.5435 U.S.
dollar.
The local currency traded in moderate range of
0.5424-0.5446 U.S. dollar Wednesday.
Against its trade-weighted index the New Zealand
dollar slipped to 53.93 Wednesday, from 53.97 Tuesday.
On a cross rate with the neighboring Australian dollar
the New Zealand dollar closed at 0.7512 AUS dollar Wednesday,
down from 0.7525 AUS dollar Tuesday.
"There has been some good economic data out on New
Zealand recently and I think the dollar will improve over
time," the dealer said.
The statistics department issued Wednesday New
Zealand's latest consumer price inflation data, showing the
country had an inflation rate of just 1.0% in the 12 months
ended Sept. 30, level with the 1.0% rate recorded for the
12 months to June 30.
- - 0335EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120337
SUBJ: N.Z. Dollar -2: Debt Mkts Mixed; 1997 Govt Stk Ylds 7.09%
Meanwhile, local debt markets were mixed Wednesday.
Short term debt markets rallied on news of the level
inflation outcome. The yield on 90-day bank bills fell to
6.12% Wednesday from 6.18% Tuesday, while the overnight
cash rate fell to 6.10% from 6.20% Tuesday.
Benchmark July 1997 government stock, which rallied
strongly Tuesday, was level at 7.09% Wednesday from
Tuesday's close.
-0- 0336EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells HEALTHCARE COMPARE CORP. Stock
ISSUER: HEALTHCARE COMPARE CORP.
SYMBOL: HCCC
FILER: SMITH JAMES C
TITLE: President.
SOLD: 9/14/92 2,500 35.00
OWNERSHIP: 675,352 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells HEALTHCARE COMPARE CORP. Stock
ISSUER: HEALTHCARE COMPARE CORP.
SYMBOL: HCCC
FILER: WHITTERS JOSEPH E
TITLE: Officer.
SOLD: 9/2-21/92 10,000 35.13-35.50
OWNERSHIP: 10,751 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells HEALTHCARE COMPARE CORP. Stock
ISSUER: HEALTHCARE COMPARE CORP.
SYMBOL: HCCC
FILER: WRISTEN EDWARD L
TITLE: Vice president.
SOLD: 9/11/92 6,000 33.25
OWNERSHIP: 1,247 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120740
SUBJ: *News Corp. Prices 40M Shares At A$24.10 Each >NWS
7:39 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120742
SUBJ: Digital Equipment -2-: 1Q Financial Table >DEC
Quar Sept. 26:
1992 1991
Revenues $3,314,299,000 $3,293,085,000
Inc bef adj (260,546,000) 11,662,000
Acctg adj .... a (485,495,000)
Net income (260,546,000) (473,833,000)
Avg shrs 28,001,937 124,836,380
Shr earns
Inc bef adj (2.04) .09
Acctg adj .... a (3.89)
Net income (2.04) (3.80)
Figures in parentheses are losses
a. Change in accounting for postretirement health benefits.
7:41 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120339
SUBJ: EC Summit Poses Political Risk For Britain's Major
LONDON -(AP-DJ)--British Prime Minister John Major needs
to score a victory at this Friday's emergency summit of
European Community leaders more than any of the other 11
leaders attending, analysts say.
But they also contend he is the least likely of the 12
to come away from the Birmingham summit with any prizes.
They warn this will leave him exposed to savage attacks
by so-called Euroskeptics in his own ruling party and make
it even more difficult for him to get the Maastricht Treaty
on European union ratified by Britain's Parliament later
this year.
However, most remain confident the Prime Minister, whose
future is inextricably linked with Maastricht, will survive.
"The stakes are extremely high," said Peter Spencer,
chief economist at Kleinwort Benson & Co. But Major "is on
fairly safe ground," he added.
Patrick Foley, chief economic adviser to Lloyds Bank PLC,
is also confident that Major - and Maastricht - will endure
their Parliamentary ordeal whatever happens at Birmingham.
"The balance of probability appears to suggest (the
treaty) will be ratified," he said.
Fears over Major's future have been growing ever since
he and Chancellor of the Exchequer Norman Lamont were forced
to suspend sterling from the European exchange rate
mechanism (ERM) on Sept. 16. Since then, the pound has lost
about 10% of its value and analysts say they've been looking
in vain for a clear sense of direction in Britain's economic
policy.
- - 0338EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120340
SUBJ: EC Summit/Britain -2: Lamont Factor Seen Hurting Major
Unconvincing attempts by the government to
reformulate policy and get the ERM reformed have further
undermined its credibility, analysts say.
For many, failure at Birmingham, which could leave
Britain further isolated from the rest of the EC, would
be the last straw.
"Apart from an economic volte face, we are now close
to a political volte face," commented Keith Skeoch, chief
economist at James Capel & Co. This, he said, is in sharp
contrast to Major's previous pledge to keep Britain "at
the heart of Europe."
In the meantime, the government is still reeling from
the impact of its economic reversal. Sterling's ERM
suspension is seen as having greatly undermined Lamont's
credibility. He had sworn allegiance to the mechanism as
the only option for economic recovery but within hours of
the pound's removal he was singing the praises of a
floating currency.
The prime minister also isn't absolved of
responsibility. He took the pound into the ERM when he
was chancellor in October 1990 and he was just as
involved in the decision to take it out again.
Some suggest Major has left himself exposed
politically by not jettisoning Lamont and starting afresh
with a new chancellor and new policies.
"Major's position is made more vulnerable by the fact
that Lamont is still there," said James Capel's Skeoch.
Major initially called the Birmingham summit to
discuss both ERM reform and the future of Maastricht,
given signs that popular support for the treaty was
waning across Europe.
- - 0339EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys CHESAPEAKE BIOLOGICAL LABO Stock
ISSUER: CHESAPEAKE BIOLOGICAL LABORATORIES INC. CL A
SYMBOL: CHBAC
FILER: MENDELSOHN THOMAS CHARLES
TITLE: Vice president.
PURCHASED: 9/30/92 1,965 1.59
OWNERSHIP: 50,615 Direct Common Class D
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120742
SUBJ: *Advanced Logic Research To Cut Worldwide Staff By 15%
7:42 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120742
SUBJ: *Advanced Logic Research To Cut All Salaries Above $50,000
7:42 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120743
SUBJ: *Haemonetics Corp. 2Q Net 42c A Shr Vs 30c >HAE
7:42 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120341
SUBJ: Sweden's Riksbank -2: Announced 1-Day, 32-Bln-Kr Repo
STOCKHOLM -(AP-DJ)--Sveriges Riksbank, the central
bank of Sweden, reduced its key marginal lending rate to
the 15.5% level from the 16.5% level on its interest
rate scale Wednesday morning when announcing a one-day,
32-billion-krona securities repurchase agreement.
The marginal rate governs banks' borrowing and
deposits with the Riksbank. On Friday, the Riksbank cut
the marginal rate to 16.5% from 18%.
The marginal interest rate had been hiked as high as
500% for a brief period during recent turmoil in European
foreign exchange markets to stem capital outflow.
Statements by top Riksbank officials in the past three
weeks indicated reductions in the marginal rate signal a
return to "more normal interest rate levels."
In August, before forex turmoil began, the marginal
lending rate stood at 11.5%.
Wednesday's reduction in the marginal rate had been
expected, said dealers.
-0- 0341EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120341
SUBJ: *German High Court Rules Income-Tax Free Threshold Unconstitutional;
New Tax Law Needed By Jan. 1, 1996
- - 0341EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells CHESAPEAKE BIOLOGICAL LABO Stock
ISSUER: CHESAPEAKE BIOLOGICAL LABORATORIES INC. CL A
SYMBOL: CHBAC
FILER: TEW WILLIAM P
TITLE: Chairman of the board.
SOLD: 9/25-30/92 13,036 2.00
OWNERSHIP: 679,570 Direct Common Class D
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120228
SUBJ: Japan's Sept. Steel Output Falls 9.3% From Year Ago
TOKYO -(AP-DJ)--Japan's steel production in September slipped 9.3% from
the same month a year earlier to a total of 8.07 million metric tons, the
Japan Iron and Steel Federation reported Wednesday.
The tempo of decline in steel output from year-earlier levels in
September was less than 10% for the first time in 10 months.
Nonetheless, September marked the 14th month in a row in which output
remained below year-earlier levels. The latest figure was the lowest level
for September in five years. In September 1987, steel production was 8.01
million metric tons, when the yen's strong appreciation hurt exports by
making Japanese steel products more expensive in foreign currency terms.
The latest figure was unchanged from the previous month's level.
Holding back the pace of growth in the nation's steel output has been
steel makers' ongoing efforts to curb production in an attempt to tame
inventories. Japan's economic slowdown has cut into demand from weak
sectors such as the auto and electric machinery industries, thus raising
steel stockpiles.
With the latest figure factored in, Japan's steel output in the
July-September quarter came to 24.30 million metric tons, down 11% from a
year earlier. The latest quarter's output, the third in a row of
year-on-year decline, was in line with the official forecast of 24.30
million metric made by the Ministry of International Trade and Industry
(MITI). The quarterly figure was off 0.2% from a the previous quarter.
- - 0628GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120744
SUBJ: Frankfurt Gold Fixed At $343.95 An Ounce
FRANKFURT -DJ- Gold was fixed at 16,200 marks per kilo or $343.95 an
ounce vs 16,410 marks or $343.95 at yesterday's fixing.
7:43 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120342
SUBJ: RPT:Sweden's Riksbank-2:Announced 1-Day,32-Bln-Kr Repo
STOCKHOLM -(AP-DJ)--Sveriges Riksbank, the central
bank of Sweden, reduced its key marginal lending rate to
the 15.5% level from the 16.5% level on its interest
rate scale Wednesday morning when announcing a one-day,
32-billion-krona securities repurchase agreement.
The marginal rate governs banks' borrowing and
deposits with the Riksbank. On Friday, the Riksbank cut
the marginal rate to 16.5% from 18%.
The marginal interest rate had been hiked as high as
500% for a brief period during recent turmoil in European
foreign exchange markets to stem capital outflow.
Statements by top Riksbank officials in the past three
weeks indicated reductions in the marginal rate signal a
return to "more normal interest rate levels."
In August, before forex turmoil began, the marginal
lending rate stood at 11.5%.
Wednesday's reduction in the marginal rate had been
expected, said dealers.
-0- 0342EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells HOUSE OF FABRICS INC. Stock
ISSUER: HOUSE OF FABRICS INC.
SYMBOL: HF
FILER: SOFRO JOHN A
TITLE: Vice president.
SOLD: 9/18/92 5,333 12.88
OWNERSHIP: 50 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120230
SUBJ: RPT:Dlr Softens From Late Singapore Levels In Thin HK Trade
HONG KONG -(AP-DJ)--The dollar is slightly lower in light HK trading
around midday Wednesday in Hong Kong, compared with its late morning
levels in Singapore.
Around 0502 GMT, the U.S. unit was quoted at 120.97 yen, down from 121.14
yen in Singapore around 0335 GMT and from 121.10 yen late Tuesday in New
York.
It was also at 1.4626 Deutsche marks, off from 1.4640 marks in Singapore
and from 1.4640 marks in New York. Sterling was at 1.7140 dlrs, unchanged
from Singapore and down from 1.7160 dlrs late in New York.
A dealer at a local bank said the dollar continues to edge down this
morning as investors focus on the sluggish U.S. economy and prospects of a
slow recovery.
He said many participants also stay sidelined ahead of release at later
Wednesday of a spate of US economic data including the widely watched
September retail sales.
The dealer expects the dollar to remain below 1.4800 marks and hold to a
range of 120.70-121.20 yen over the course of the local trading day.
On local currency markets, the U.S. dollar was quoted at 7.7328 HK
dlrs,up from 7.7325 HK dlrs around the same time Wednesday. The interest
rate on overnight Hong Kong-dollar lending rose to an offered rate of
2.50% from Tuesday's 2.3750%.
-0- 0631GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120745
SUBJ: Xerox Plans To Sell Its Van Kampen Unit For $360 Mln
By Randall Smith
Xerox Corp. plans to sell its Van Kampen Merritt Cos. money management
business to the private investment firm of Clayton Dubilier & Rice Inc.
for $360 million, The Wall Street Journal reported.
Xerox announced the sale plan last night in response to reports about the
transaction circulating on Wall Street.
The company decided to make the sale after announcing two months ago that
it would sell as much as 38% of Van Kampen, which manages about $18
billion in bond mutual funds, in an initial public offering aimed at
raising $138 million.
But Clayton Dubilier & Rice, best known for its $1.5 billion leveraged
buy-out of the typewriter business of International Business Machines
Corp. last year, preempted the offering by bidding for the entire
business. The offering was being managed by Lazard Freres & Co. and
Wasserstein Perella & Co.
The sale is likely to generate a gain on the order of $100 million for
Xerox, because Van Kampen was carried on its books for $237.4 million as
of June 30. Xerox, whose main business is copiers and other office
equipment, has been shedding some of the financial services businesses it
acquired in the 1980s.
Clayton Dubilier, which manages a pool of equity capital valued at more
than $1 billion, was able to move quickly on the purchase because it had
been studying a possible acquisition of a mutual fund company built by Sir
John Templeton.
Clayton Dubilier is working with Van Kampen's current management, led by
Chairman John C. Merritt, and expects that management and employees will
own 20% of the company's stock. Xerox will also have the right to acquire
a 10% stake in the company.
Clayton Dubilier, based in New York, plans to finance the acquisition
with $165 million in equity and $250 million in debt. It will be assuming
about $35 million in debt from Xerox connected to Van Kampen.
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120746
SUBJ: U.S., Japanese Stocks -2-: U.S. Stocks Seen Off In N.Y.
LONDON -DJ- U.S. stocks are a bit weaker and Japanese stocks are steady
at midday in European trading.
Yesterday, the Dow Jones Industrial Average rose 27.01 points to close at
3,201.42. The index has risen about 65 points this week.
European trading of U.S. stocks so far today suggests the gains will stop
there, with the DJIA seen off five to 10 points at the opening, said a
London-based trader.
He said, however, that European trading volume is too low today to
accurately gauge Wall Street.
In general, ''the grind goes on'' in the European market for U.S. stocks,
he says. ''People are fence-sitting.''
A few individual stocks have had a lively session. The Wall Street
Journal reported that Procter & Gamble is expected to announce soon the
sale of its Memphis, Tenn., pulp mill and 50% of a similar mill at Perry,
Fla. The sales should net the diversified consumer goods giant about $100
million, news that's encouraged European investors to boost P&G 1/4 to 50
3/4, the dealer said.
Xerox is up 1/2 at 77 5/8 in Europe on news that it plans to sell its Van
Kampen Merritt Cos. money management business for $360 million, a gain of
about $100 million.
7:46 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120344
SUBJ: Greenspan -2: Refuses To Answer Questions On Currencies
TOKYO -(AP-DJ)--U.S. Federal Reserve Board Chairman
Alan Greenspan said that a dramatic rise in U.S. economic
growth is not feasible or desirable.
Greenspan, answering questions following a speech
before Japan's Federation of Bankers Associations, said
the U.S. economy is growing at an extremely moderate pace
but it's still growing.
Greenspan said he can't make a precise judgment as
to when the U.S. economy's growth will begin to
accelerate.
Greenspan argued that the current economic slowdown
in the U.S., Japan, the U.K. and other countries is
unusual in the post-war era because it reflects the needs
of borrowers to reduce the "overload" of debt after
prices of collateral have declined sharply in recent
years.
The Federal Reserve Board chairman said the
adjustment of the U.S. and other economies from the debt
overload has "taken much longer than many of us
expected."
But he said the U.S. central bank's policy objective
since 1989 of stretching out the needed adjustment of
excess debt while maintaining some level of economic
growth has been successful.
Greenspan refused to answer any questions concerning
currencies. He will hold a press conference at 0800 GMT.
-0- 0344EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys INTERSTATE BAKERIES CORP. Stock
ISSUER: INTERSTATE BAKERIES CORP.
SYMBOL: IBC
FILER: HORTON FRANK E
TITLE: Director.
PURCHASED: 9/1/92 900 16.75
OWNERSHIP: 1,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells INTERSTATE BAKERIES CORP. Stock
ISSUER: INTERSTATE BAKERIES CORP.
SYMBOL: IBC
FILER: OCONNOR RICHARD D
TITLE: Officer.
SOLD: 9/18/92 12,000 19.13-19.50
OWNERSHIP: 10,520 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
HOT
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120231
SUBJ: *Japan Posts 12.07-Billion Dlr Trade Surplus In September, Up From
9.66-Billion Dlr Surplus A Year AGo
- - 0631GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120747
SUBJ: TD Bank-Central Guaranty -2-: CDIC Coverage Seen Sufficient
TORONTO -DJ- Toronto Dominion Bank (T.TD) disclosed details of its
agreement in principle with Central Guaranty Trust Co. and Central
Guaranty Mortgage Corp. to acquire substantially all of their assets and
all of their deposit liabilities.
Under the terms of the agreement, TD said it will pay a purchase price
premium of C$125 million to acquire about C$9 billion of performing loans
and securities, the majority of which are residential mortgages, and the
trust company's mutual fund, agent and VISA businesses. It said it will
assume all of CGT's deposit liabilities and will offer employment to CGT
branch, trust, mutual fund and VISA personnel.
The bank said Canada Deposit Insurance Corp. will provide coverage
against losses which may be sustained on the portfolio of performing
assets acquired by the bank. TD said it believes that the coverage to be
obtained from CDIC will be sufficient.
The transaction has now received TD and CGT board approval, and requires
CGT shareholder and formal regulatory approval, and execution of
definitive documentation. As reported, the transaction is expected to
close by Dec. 31.
7:46 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120747
SUBJ: *London Stocks Lower At Midday; FT-SE 100 Down 18
7:47 AM
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120748
SUBJ: *Copley Pharma Initial 2.2M Shrs Priced At $19 A Shr >CPLY
7:48 AM
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys IFR SYSTEMS INC. Stock
ISSUER: IFR SYSTEMS INC.
SYMBOL: IFRS
FILER: REINKEN PAUL E
TITLE: Director.
PURCHASED: 9/10/92 3,000 4.75
OWNERSHIP: 8,967 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells INTERPOINT CORP. Stock
ISSUER: INTERPOINT CORP.
SYMBOL: INTP
FILER: LINWICK PHILLIP C
TITLE: Chairman of the board.
SOLD: 9/24/92 20,000 7.00
OWNERSHIP: 37,184 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells IRVINE SENSORS CORP. Stock
ISSUER: IRVINE SENSORS CORP.
SYMBOL: IRSN
FILER: CARSON JOANNE S MS
TITLE: Officer and director.
SOLD: 9/14-16/92 10,000 3.63-3.75
OWNERSHIP: 354,489 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells IRVINE SENSORS CORP. Stock
ISSUER: IRVINE SENSORS CORP.
SYMBOL: IRSN
FILER: CARSON JOHN C
TITLE: Officer and director.
SOLD: 9/14-16/92 10,000 3.63-3.75
OWNERSHIP: 220,239 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120231
SUBJ: S. Korean Business Royalty Payments For Foreign Tech Rise
SEOUL -(AP-DJ)--Royalty payments by South Korea's conglomerates for
technology imports from abroad are increasing, with Samsung Group leading
the trend, the Finance Ministry said Wednesday.
According to the ministry, royalty payments for foreign techno / / / / /
/ 0632GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
HOT
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120231
SUBJ: *Japan's Sept. Trade Surplus With U.S. 4.84 Billion Dlrs, Up From
4.58-Billion-Dlr Surplus A Year Earlier
- - 0632GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
HOT
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120232
SUBJ: *Japan Posts 52.46-Billion Dlr Trade Surplus In 1st Fiscal Half, Up
From 39.68-Billion Dlr Surplus A Year ago
- - 0632GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
HOT
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120232
SUBJ: *Japan's 1st-Half Trade Surplus With U.S. 21.16 Billion Dlrs, Up From
17.37-Billion-Dlr Surplus A Year Earlier
- - 0633GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Temporary, 90 Days
Dow Jones News Service (DJNX, 'Broad Tape')
Dow Jones News Service (DJNX, 'Broad Tape')
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120749
SUBJ: Tokyo Stocks End Mixed -4-: Test Of 17,000 Seen Tomorrow
The Nikkei index ranged between 17,344.03 points and 17,714.04 points
today.
Dealers said the index will likely test 17,000 tomorrow. The horizon
remains largely devoid of news, they said, and low volume continues to
plague the market.
''We could go back into a decline,'' said one player at a Japanese
securities firm. ''The technical indicators seem to indicate we could
drop off very sharply.''
Dealers said the Nikkei has firm support at 17,000. ''So far we've seen
government buying coming in at that level,'' said Wayne Rayner, a dealer
at Sanyo Securities. He said government pension-fund investment is likely
to buoy the index, as it has during recent sessions. Officials have
pledged 2.8 trillion yen of postal life-insurance-fund investment in
shares during the fiscal year running through March 31. Rayner said
investment trusts are also likely to place buy orders around 17,000 as are
other participants who see the level as a short-term bottom.
One dealer said ''the line's drawn at 17,000. All bets are off if we fall
below that level.'' The consensus, however, is that the index will stay
above the key figure tomorrow. Most dealers said the Nikkei is likely
range bound between 17,000 and 17,500.
Interest rates remain in the market focus, with players looking for hints
of a German rate cut when that country's central bankers meet tomorrow.
They say that while the Tokyo Sagawa Kyubin political scandal dominates
Japanese headlines, it is unlikely to affect the direction of dealings.
Among speculative shares, trading house Inabata & Co. and Sumitomo
Chemical both posted gains on extremely heavy volume. Dealers said both
companies are recommended buys of local brokerages. Sumitomo Chemical is
involved in cancer research, and Inabata is a related firm. Sumitomo
Chemical added 5 yen to 478 yen with 4.13 million shares changing hands,
and Inabata advanced 50 yen to 1,140 on turnover of 5.49 million issues.
Large capital issues were also among the day's most active issues, as
concern about interest rates takes center stage in the Tokyo market. The
designation includes heavily debt-burdened shipbuilders and steel makers,
seen as beneficiaries of the lower interest rates that would follow a Bank
of Japan cut in its official discount rate. Kawasaki Steel gained 4 yen
to 295 yen on volume of 3.69 million yen, and Nippon Steel also picked up
4 yen to 295 yen on slightly lower activity of 2.61 million shares.
Blue chip exporters were mixed as the yen maintained weaker levels
compared to recent times. Sony gained 30 yen to 4,070 yen, and Matsushita
closed 10 yen higher at 1,160. But Sharp lost 15 yen to 963 yen, and
Mitsubishi Electric slipped 3 yen to 450 yen.
7:49 AM
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120345
SUBJ: *Sterling Exchange Rate Index At 82.8
-0- 0344EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120346
SUBJ: Dlr In Tokyo: Hardly Moves Despite Kanemaru, Greenspan
TOKYO -(AP-DJ)--Currencies hardly moved in Tokyo
Wednesday despite a powerful Japanese politician's forced
resignation from parliament and a speech by U.S.
Federal Reserve Board Alan Greenspan.
Lack of clearer indications that monetary policies in
major nations may change soon as well as caution ahead
of uncertainties surrounding Thursday's twice-monthly
meeting of the Bundesbank's policy-setting central bank
council and Friday's meeting of European Community
leaders in Birmingham, U.K., helped limit currency
dealings Wednesday, traders said.
"There's just no clear trend at all" in current
foreign exchange dealings, said a currency dealer at a
major North American bank in Tokyo at the session's close.
The dollar finished Wednesday at 121.10 yen,
unchanged from 121.10 yen late Tuesday in New York but
down from 121.60 yen late Tuesday in Tokyo.
The U.S. currency also finished at 1.4646 Deutsche
marks, slightly higher than 1.4640 marks late Tuesday in
New York but below 1.4830 marks in Tokyo Tuesday.
The mark ended at 82.68 yen, down from 82.72 yen in
New York late Tuesday but above 82.00 yen in Tokyo late
Tuesday.
- - 0346EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys INTELLIGENT SURGICAL LASER Stock
ISSUER: INTELLIGENT SURGICAL LASERS INC.
SYMBOL: ISLS
FILER: FEENEY ROBERT JAMES JR
TITLE: Officer.
PURCHASED: 9/18/92 1,000 8.00
OWNERSHIP: 1,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells INTERNATIONAL TOTALIZATOR Stock
ISSUER: INTERNATIONAL TOTALIZATOR SYSTEMS INC.
SYMBOL: ITSI
FILER: MCKINNIE JON R
TITLE: Director.
SOLD: 9/10-17/92 155,000 6.13-6.88
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells BELL (JAN) MARKETING INC. Stock
ISSUER: BELL (JAN) MARKETING INC. VOTING
SYMBOL: JBM
FILER: BOUDREAU DAVID
TITLE: Officer.
SOLD: 9/2-10/92 12,500 15.50-15.88
OWNERSHIP: 0 Direct Common Voting
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells BELL (JAN) MARKETING INC. Stock
ISSUER: BELL (JAN) MARKETING INC. VOTING
SYMBOL: JBM
FILER: BOWERS RICHARD W
TITLE: Officer and director.
SOLD: 9/2/92 14,000 15.63-15.75
OWNERSHIP: 33,000 Direct Common Voting
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells BELL (JAN) MARKETING INC. Stock
ISSUER: BELL (JAN) MARKETING INC. VOTING
SYMBOL: JBM
FILER: TRUDEAU ROSEMARY MS
TITLE: Officer and director.
SOLD: 9/2/92 10,000 15.50-15.88
OWNERSHIP: 15,000 Direct Common Voting
COMMENT: Open Market Sale
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120233
SUBJ: RPT:Dlr Softens From Late Singapore Levels -1A-
The dealer expects the dollar to remain below 1.4800 marks and hold to a
range of 120.70-121.20 yen over the course of the local trading day.
On local currency markets, the U.S. dollar was quoted at 7.7328 HK
dlrs,up from 7.7325 HK dlrs around the same time Wednesday. The interest
rate on overnight Hong Kong-dollar lending rose to an offered rate of
2.50% from Tuesday's 2.3750%.
-0- 0634GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120348
SUBJ: Tokyo Stocks -3: Nikkei Seen Testing 17,000 Thursday
The Nikkei index ranged between 17,344.03 points and
17,714.04 points Wednesday.
Dealers said the index will likely test 17,000
Thursday. The horizon remains largely devoid of news,
they said, and low volume continues to plague the
market.
"We could go back into a decline," said one player at
a Japanese securities firm. "The technical indicators
seem to indicate we could drop off very sharply."
Dealers said the Nikkei has firm support at 17,000.
"So far we've seen government buying coming in at that
level," said Wayne Rayner, a dealer at Sanyo Securities.
He said government pension-fund investment is likely to
buoy the index, as it has during recent sessions.
Officials have pledged 2.8 trillion yen of postal
life-insurance-fund investment in shares during the
fiscal year running through March 31. Rayner said
investment trusts are also likely to place buy orders
around 17,000 as are other participants who see the level
as a short-term bottom.
One dealer said "the line's drawn at 17,000. All bets
are off if we fall below that level." The consensus,
however, is that the index will stay above the key
figure Thursday. Most dealers said the Nikkei is likely
range bound between 17,000 and 17,500.
Interest rates remain in the market focus, with
players looking for hints of a German rate cut when that
country's central bankers meet Thursday. They say that
while the Tokyo Sagawa Kyubin political scandal
dominates Japanese headlines, it is unlikely to affect the
direction of dealings.
-0- 0347EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120348
SUBJ: *BOJ high official says mtgs between Grenspan, Mieno weren't occasion
for negotiation but for exchange of views
- - 0348EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys JUNDT GROWTH FUND INC. Stock
ISSUER: JUNDT GROWTH FUND INC.
SYMBOL: JF
FILER: JUNDT JAMES R
TITLE: Officer and director.
PURCHASED: 9/10-21/92 120,000 13.31-14.00
OWNERSHIP: 482,342 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120235
SUBJ: *HK Mid-Afternoon Gold 344.40-344.90 (345.80-346.30) Dlrs/Ounce; 3179
(3191) HK Dlrs/Tael (1.1913 ounces)
-0- 0635GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120235
SUBJ: Bonn Contemplates Alternatives If Maastricht Fails
By ALEX KETO
BONN -(AP-DJ)--Although German political leaders will go into Friday's
European Community (EC) summit publicly voicing vigorous support for the
Maastricht Treaty, they are privately starting to contemplate a future
without it.
'You have a huge gap between what is being said publicly and what is said
in private,' said Jochen Thies, a long-time German political analyst and
editor of Europa-Archiv, the country's leading journal of foreign affairs.
An erosion of German government support for the treaty, which contains
the EC's blueprint for a single currency and central bank, could further
cloud the prospects for the controversial monetary union. Already polls
are showing a sharp decline in support for Maastricht by the public and
business leaders.
However, analysts said even treaty skeptics are reluctant to let Germany
be seen as an impediment to European monetary union.
'There are a lot of second thoughts in the government,' Thies said. 'But
any German government, or the opposition, must not be perceived to be
blocking European union. However, since the Danish referendum, it has been
clear that Maastricht in the real meaning isn't coming into reality.'
Furthermore, German fears are growing that Britain will fail to approve
the treaty, which will effectively end dreams of a broad-based monetary
union.
- - 0636GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120348
SUBJ: *German High Court Finds That Backpayments In Income Tax Ruling Not
Advisable
- - 0348EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120349
SUBJ: Tokyo Stocks -4: Nikkei Seen Testing 17,000 Thursday
The Nikkei index ranged between 17,344.03 points and
17,714.04 points Wednesday.
Dealers said the index will likely test 17,000
Thursday. The horizon remains largely devoid of news,
they said, and low volume continues to plague the
market.
"We could go back into a decline," said one player at
a Japanese securities firm. "The technical indicators
seem to indicate we could drop off very sharply."
Dealers said the Nikkei has firm support at 17,000.
"So far we've seen government buying coming in at that
level," said Wayne Rayner, a dealer at Sanyo Securities.
He said government pension-fund investment is likely to
buoy the index, as it has during recent sessions.
Officials have pledged 2.8 trillion yen of postal
life-insurance-fund investment in shares during the
fiscal year running through March 31. Rayner said
investment trusts are also likely to place buy orders
around 17,000 as are other participants who see the level
as a short-term bottom.
One dealer said "the line's drawn at 17,000. All bets
are off if we fall below that level." The consensus,
however, is that the index will stay above the key
figure Thursday. Most dealers said the Nikkei is likely
range bound between 17,000 and 17,500.
Interest rates remain in the market focus, with
players looking for hints of a German rate cut when that
country's central bankers meet Thursday. They say that
while the Tokyo Sagawa Kyubin political scandal
dominates Japanese headlines, it is unlikely to affect the
direction of dealings.
-0- 0348EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys JUNDT GROWTH FUND INC. Stock
ISSUER: JUNDT GROWTH FUND INC.
SYMBOL: JF
FILER: JUNDT JAMES R
TITLE: Officer and director.
PURCHASED: 9/8-25/92 30,000 13.25-13.41
OWNERSHIP: 59,872 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys JUNDT GROWTH FUND INC. Stock
ISSUER: JUNDT GROWTH FUND INC.
SYMBOL: JF
FILER: JUNDT JAMES RICHARD IRREV TRUST
TITLE: Beneficial owner.
PURCHASED: 9/8-25/92 30,000 13.25-13.41
OWNERSHIP: 54,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:07
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120236
SUBJ: Bonn Contemplates -2: German Fears May Endanger Treaty
'If the British fail to ratify the treaty, we have a completely new
situation,' said Ulrich Irmer, head of the foreign policy committee of the
Free Democratic Party (FDP).
'I can assure you that not only the German government but also the
parliament reflects about alternatives or about scenarios which might be
implemented if the Maastricht Treaty is rejected,' he added. 'Of course we
do this, but we don't say it in public because we are optimists.'
The FDP is the junior partner in Chancellor Helmut Kohl's ruling
coalition.
Irmer also indicated that a public admission that Germany was giving less
than 100% support to the Maastricht Treaty could in itself kill off any
chance the agreement has of surviving.
Irmer's comments contrast sharply with statements made by Kohl and
Economics Minister Juergen Moellemann, who both called for a unanimous
approval of the treaty by all 12 EC members without any renegotiation.
Kohl reiterated that position Monday following his meeting with EC
Commission President Jacques Delors to talk about Friday's summit.
Indeed, German politicians are privately saying that renegotiating the
treaty is impossible since some member states, such as Greece, Ireland,
and France, ratified the original version while other member states, such
as Britain and Germany, would be asked to approve a modified version.
However, divisions within the German government over what to do if
Maastricht fails makes its alternatives difficult to discern.
- - 0637GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120237
SUBJ: Singapore RAS Commodity Exchange Rubber Futures
Rubber futures prices fixed by RAS at 0500GMT, Oct. 14 1992
Contract Month High Low Sett Vol Open Int
RSS 1 Nov 145.25 145.25 145.50 100 1125
Rss 1 Dec 144.25 143.75 143.75 400 3175
Rss 3 Nov 0.00 0.00 86.00 0 650
Rss 3 Dec 85.75 85.75 85.75 500 1400
TSR 20 Nov 133.25 133.25 133.75 120 1440
TSR 20 Dec 133.50 132.75 133.25 400 3640
(All Prices In Singapore Cents Per Kilo) -0- 14-10-92 Via KL 0638GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120350
SUBJ: EC Summit/Britain -3: Major To Push For Subsidiarity
However, other countries with currencies still in the
ERM quickly made clear they are happy with the system's
current structure. Even Italy, which had been forced to
suspend its currency at the same time as the pound,
indicated it is prepared to rejoin the mechanism as soon
as it can.
Apart from Spain, which expressed some misgivings
over the ERM's operations, Britain has been left largely
isolated on the issue, with any talk of reform swiftly
dropped from the Birmingham agenda.
Success for Major at Birmingham will now rely on his
ability to wrench some concessions on Maastricht itself,
in the hope that this will make it more palatable to
Euroskeptics both in Britain and other EC countries.
Major, like other leaders, has already ruled out
renegotiation of the treaty itself. Instead, he will push
for concessions on subsidiarity - the policy of reducing
the power of the European Commission in Brussels in favor
of national governments.
But few expect the Prime Minister to have much luck
in achieving anything more than a token agreement. James
Capel's Skeoch sees at most a 40% chance of success.
The community's dominant nations - France and Germany
- are more interested in accelerating moves toward union
for fear of losing political momentum, analysts point
out.
Both countries officially deny plans for a 2-speed
Europe that will leave Britain and other weak countries
behind. However, senior Bonn officials continue to talk
of a multi-speed system indicating that Germany and
France, as well as the converging economies of Holland,
Belgium and Luxembourg, are unwilling to wait for weaker
members.
- - 0350EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120351
SUBJ: EC Summit/Britain -4: Danish Support
Subsidiarity also won't get support from smaller EC
countries, which are keen to give power to Brussels.
"They want the Commission to protect the interests of the
small players against the big players," Kleinwort's
Spencer pointed out.
The only country going to Birmingham supporting
Britain is Denmark. Although its currency is firmly
anchored inside the ERM, its government faces the
ticklish task of revamping the Maastricht Treaty to make
it acceptable to the Danes. They voted to reject the
treaty in a referendum held in early June.
Despite frantic diplomatic activity over the last few
weeks, there is little hope Britain will salvage much
from the meeting.
Lloyd's Foley feels that swiftly falling expectations
should reduce the political risks for the prime minister.
But, others still see a political tempest erupting if he
comes away from Birmingham empty-handed.
As many as 80 Conservative Members of Parliament,
much more than the government's 21 majority in the House
of Commons, are opposed to the treaty and keen to see
ratification blocked. Without concessions on subsidiarity
they are expected to whip up even more support.
However, opposition parties continue to support the
government on the issue and show little sign of joining
the highly vocal rebels. Ironically, this opposition
support could bring Major his badly needed victory in the
parliamentary battle over the ratification of Maastricht.
"It may get through by the skin of its teeth,"
predicted Skeoch.
-0- 0351EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120352
SUBJ: Australian Dollar Seen Headed To 0.7250 U.S. Dlr This Wk
SYDNEY -(AP-DJ)--The Australian dollar is expected to
head higher after firming Wednesday, with dealers
predicting a test of 0.7250 U.S. dollar over the next few
days.
Late Wednesday the Australian dollar is around 0.7225
U.S. dollar, up from 0.7215 U.S. dollar late Tuesday and at its
highest late local level in two and a half weeks.
Against its trade-weighted index the currency slipped
to 53.0 from 53.2 Tuesday. It was barely changed at 87.60
yen from 87.70 yen Tuesday.
During the local session the Australian dollar traded a
0.7215-0.7235 U.S. dollar band, having broken the 0.7225/30
U.S. dollar resistance level in New York Tuesday.
Dealers said that augurs well for the local currency,
but said the move up will be slow.
Ferdy Khouw at Citibank Ltd. said he expects a range of
0.7210-0.7240 U.S. dollar later Wednesday, with a further
climb in coming days.
"If it can get through 0.7270 I would be bullish but
until then I'm not overly bullish," Khouw said.
- - 0352EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells JUNO LIGHTING INC. Stock
ISSUER: JUNO LIGHTING INC.
SYMBOL: JUNO
FILER: FREMONT ROBERT S
TITLE: President.
SOLD: 9/30/92 219,200 15.00
OWNERSHIP: 1,464,856 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120237
SUBJ: N.Z. Sovereign Debt Rating Will Be Unchanged Says Moody's
WELLINGTON -(AP-DJ)--Moody's Investors Service Inc. said Wednesday it
will issue within a month a review of New Zealand's sovereign debt rating
and the country's classification will be 'unchanged.'
A spokesperson for the U.S.-based rating agency said the review is an
annual exercise Moody's goes through to update its commentary.
'The rating is unchanged,' the spokesperson said.
New Zealand's sovereign debt rating by Moody's at present is Double-A-3.
News that Moody's rating of New Zealand will be unchanged is in line with
market expectations.
'(Finance Minister Ruth) Richardson alluded to the fact that it would be
unchanged on her return from a recent trip to New York,' said Bankers
Trust New Zealand Ltd. associate treasury director John McFarlane.
'The grading comes down to looking at a country's current account
situation as an indicator of its ability to meet ongoing commitments,'
McFarlane said.
'Noone expects an upgrade yet because a recent improvement in New
Zealand's current account deficit has not been strong enough to warrant an
upgrade,' McFarlane said.
'On the other hand, the current account has been improving strongly
enough so as to guarantee there won't be a downgrade,' he said.
- - 0638GMT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120354
SUBJ: Australian Dollar -2: Seen Nudging Higher To 0.7450 Dlr
Geoff Bowmer at Bankers Trust Australia Ltd. said he
expects the Australian dollar will "nudge its way up" over
time. He is looking for a long, slow rally to 0.7400-0.7450
U.S. dollar by the end of November, and while he sees
pullbacks ahead of each fresh move up he doesn't expect the
Australian dollar to trade much below 0.72 U.S. dollar.
Bowmer said the currency might take two to three days
to reach 0.7250 U.S. dollar.
A Macquarie Bank Ltd. dealer said he sees the
Australian dollar well supported later Wednesday, and
expects a range of 0.7220-0.7242 U.S. dollar.
-0- 0353EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120355
SUBJ: Japan's Trade Surplus -5: Six Month Surplus Record High
The finance ministry said the $52.46 billion surplus in
the first half of this fiscal year marked the record high
for any six month period, surpassing the previous record
surplus of $48.66 billion hit in the second half of the
fiscal year ended March 1992.
Moreover, the trade surplus hit its all-time monthly
high in September, surging to $12.07 billion. The previous
monthly record was set in March 1992, when the nation's
merchandise trade surplus came to $10.97 billion, the
finance ministry said.
For the first half ended Sept. 30, meanwhile, unadjusted
exports came to $168.14 billion, rising 9.9% from $153.06
billion in the corresponding period a year ago.
Japan's custom-cleared imports during the six months
were up 2.0% to $115.67 billion from $113.38 billion in
the same period a year ago.
-0- 0355EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120357
SUBJ: French Central Banker -3: French Stimulus "Suicidal"
De Larosiere said the German economic is starting to
slow, adding that all German economic forecasts have been
revised downward.
The monetary turbulence of recent weeks has reinforced
the Deutsche mark's competitivity and Germany's
antinflationary monetary policy, he added, noting that
German growth is below potential, or what it can do in
terms of non-inflationary growth without inflation.
"In think inflationary tensions will continue to ease
in Germany and this goes in the direction of an easing of
rates," the French central banker said.
He observed that German money market rates have
already come down by about 1% since the European
monetary crisis flared up in September. "I hope this
movement will continue," he stated.
De Larosiere also noted that French interest rates
have also come down considerably and that long-term rates
have ebbed to 8.45% compared with 9.16% before the recent
monetary crisis.
De Larosiere rejected a suggestion that the French
government, faced with slow growth, could try to
stimulate the economy unilaterally. "Any single-handed
stimulus in a world that is waiting for a recovery would
be suicidal," he affirmed.
- - 0356EDT
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120358
SUBJ: US Treasurys In Tokyo A Bit Lower As No Easing Indicated
TOKYO -(AP-DJ)--U.S. Treasury prices in Tokyo are
slightly lower late Wednesday as U.S. Federal Reserve
Chairman Alan Greenspan has yet to indicate that a further
ease in U.S. monetary policy will happen soon.
In a speech to Japanese bankers in Tokyo Wednesday
Greenspan said he is optimistic about achieving stable
prices, and in a question and answer period after the speech
he said a dramatic rise in U.S. economic growth is not
feasible or desirable. (See CMR stories on pages 4203, 4204
and 4207.) At 5:00 p.m. JST (0800 GMT) Greenspan will hold a
press conference.
After Greenspan's speech Treasury prices dropped a bit,
but dealers say it wasn't his remarks that moved prices, but
the lack of any indication from the Fed chief that he will
cut rates. Moreover, many market participants in Tokyo are
taking a wait-and-see attitude before key U.S. inflation and
consumption data is released on Wednesday.
Tokyo is bidding the 30-year bond, the 7 1/4% issue due
in 2022, at 96 16/32, 4/32 lower than late Tuesday in New
York to yield 7.54%.
-0- 0358EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells MERIDIAN DIAGNOSTICS INC. Stock
ISSUER: MERIDIAN DIAGNOSTICS INC.
SYMBOL: KITS
FILER: RUYAN JERRY L
TITLE: Officer, director and beneficial owner.
SOLD: 9/21/92 8,000 10.50
OWNERSHIP: 1,705,109 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells KIRSCHNER MEDICAL CORP. Stock
ISSUER: KIRSCHNER MEDICAL CORP.
SYMBOL: KMDC
FILER: KRAVITZ JOHN A
TITLE: Vice president.
SOLD: 9/30/92 3,000 7.00
OWNERSHIP: 10,974 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys KOLLMORGEN CORP. Stock
ISSUER: KOLLMORGEN CORP.
SYMBOL: KOL
FILER: MAXWELL JOHN D JR
TITLE: Director.
PURCHASED: 9/1-10/92 2,100 4.25-4.50
OWNERSHIP: 33,295 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys LIFETIME CORP. Stock
ISSUER: LIFETIME CORP.
SYMBOL: LFT
FILER: FRISCHLING CARL
TITLE: Director.
PURCHASED: 9/3/92 5,400 15.88-16.13
OWNERSHIP: 5,566 Direct
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120238
SUBJ: N.Z. Sovereign Debt -2: Confirmation Seen As Favorable
According to latest data, New Zealand recorded a current account deficit
of 29 million New Zealand dlrs in the second quarter of 1992, narrowing
from a deficit of 125 million NZ dlrs in the first quarter of 1992, which
in turn narrowed from a deficit of 346 million in the fourth quarter of
1991.
McFarlane said financial markets should react favorably to the
confirmation of the debt rating by Moody's.
'Reaffirmation of the government's rating is certainly not going to be
bad news,' McFarlane said.
The other main sovereign debt rating agency, Standard & Poor's Corp. at
present rates New Zealand government debt Double-A-minus, which is in line
with the Moody's rating.
-0- 0639GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120239
SUBJ: Tokyo Stocks End Lower; Nikkei 17,344.03, Down 0.84%
TOKYO -(AP-DJ)--Tokyo stocks ended mixed Wednesday, but the Nikkei index
plunged nearly 300 points during the final hour of trading to end at its
session low.
Dealers attributed the sell-off at day's end to index-linked arbitrage,
and said the fall was only coincidental with top Japanese powerbroker Shin
Kanemaru's announcement that he would resign from parliament to take
responsability for a recent scandal.
The Nikkei, which tracks 225 selected issues, fell 146.64 points to
17,344.03. The index rose 188.66 points Tuesday. The Nikkei closed the
1991 trading year at 22,983.77.
Brian Tobin, general manager of equity sales at S.G. Warburg Securities
(Japan) Inc., said participants are disappointed with the failure of
positive news to emerge from U.S. Federal Reserve Chairman Alan
Greenspan's meetings with Japanese monetary officials during the week. He
said the market was largely anticipating at least 'some whisper of a
concerted (U.S.-Japanese) rate cut.'
Advancing issues narrowly outnumbered retreating issues 494 to 414, while
183 issues were unchanged.
Volume on the First Section of the Tokyo Stock Exchange was estimated at
250 million shares, up from 204.98 million shares Tuesday.
- - 0639GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells MAIL BOXES ETC. Stock
ISSUER: MAIL BOXES ETC.
SYMBOL: MAIL
FILER: DESIO ANTHONY W
TITLE: President.
SOLD: 9/14-17/92 5,000 16.00
OWNERSHIP: 982,655 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Sells MAIL BOXES ETC. Stock
ISSUER: MAIL BOXES ETC.
SYMBOL: MAIL
FILER: DESIO TRUST
TITLE: Beneficial owner.
SOLD: 9/14-17/92 5,000 16.00
OWNERSHIP: 610,751 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120240
SUBJ: Mideast Morning Dlr Firmer Vs Asian Levels In Quiet Market
MANAMA -(AP-DJ)--The dollar was firmer in Middle East trading Wednesday,
compared with its earlier Asian levels, in quiet dealings, dealers said.
Dealers said participants were very cautious to take speculative
positions as they anticipating flurry of news to influence the market in
the coming days.
Dealers are awaiting news later Wednesday to come out of Tokyo, where
U.S. and Japanese Monetary officials are meeting, and U.S. economic data
due for release later in the day and Thursday.
The Bundesbank's policy-making council is also expected to held its
monthly meeting on Thursday and dealers are awaiting eagerly to see if it
will realign its monetary policy, dealers said.
Around 0620 GMT, the dollar was quoted around 1.4655 Deutsche marks, up
from 1.4647 marks in Asia at 0200 GMT and also above 1.4640 marks late
Tuesday in New York.
The dollar was quoted slightly higher at 121.17 yen compared with 121.14
yen at 0200 GMT in Asia and above 121.10 yen at Tuesday's New York close.
Sterling was quoted around 1.7140 dlrs, up from 1.7134 dlrs earlier in
Asia but down from 1.7160 dlrs in New York Tuesday.
Dealers said they expected very narrow dollar ranges Wednesday of 1.4580
marks to 1.4660 marks and between 120.80 yen to 121.60 yen. For sterling
they predicted ranges of 17.110 dlrs to 1.7180 dlrs.
-0- 0640GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120241
SUBJ: Mideast Morning Dlr Firmer Vs Asian Levels In Quiet Market
MANAMA -(AP-DJ)--The dollar was firmer in Middle East trading Wednesday,
compared with its earlier Asian levels, in quiet dealings, dealers said.
Dealers said participants were very cautious to take speculative
positions as they anticipating flurry of news to influence the market in
the coming days.
Dealers are awaiting news later Wednesday to come out of Tokyo, where
U.S. and Japanese Monetary officials are meeting, and U.S. economic data
due for release later in the day and Thursday.
The Bundesbank's policy-making council is also expected to held its
monthly meeting on Thursday and dealers are awaiting eagerly to see if it
will realign its monetary policy, dealers said.
Around 0620 GMT, the dollar was quoted around 1.4655 Deutsche marks, up
from 1.4647 marks in Asia at 0200 GMT and also above 1.4640 marks late
Tuesday in New York.
The dollar was quoted slightly higher at 121.17 yen compared with 121.14
yen at 0200 GMT in Asia and above 121.10 yen at Tuesday's New York close.
Sterling was quoted around 1.7140 dlrs, up from 1.7134 dlrs earlier in
Asia but down from 1.7160 dlrs in New York Tuesday.
Dealers said they expected very narrow dollar ranges Wednesday of 1.4580
marks to 1.4660 marks and between 120.80 yen to 121.60 yen. For sterling
they predicted ranges of 17.110 dlrs to 1.7180 dlrs.
-0- 0641GMT
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120602
SUBJ: THIS IS A TEST FOR CHANGE HEADLINE ONLY
Stefano Natella, a Mexico analyst at CS First Boston Inc., says he's
waiting for signs that interest rates are trending downward before he
recommends buying Mexican equities. He doesn't expect a rate decline until
the first or second quarter of 1993.
But waiting too long to buy could also be risky.
"Once interest rates start moving down, you're probably too late," says
Felicia Morrow, senior analyst and portfolio manager for Emerging Markets
Investor Corp. "If you believe in positioning yourself ahead of the pack,
you have to be thinking of moving soon."
Goldman Sachs says an interest-rate decline and a stock-price rally could
begin as soon as mid-November. By then, according to Jorge Mariscal,
Goldman Sachs's director of Latin American research, many uncertainties
surrounding Mexico's prospects will have faded from view. Early next
month, Mexico will announce what are expected to be minor adjustments to
its anti-inflation plan, known as the Pacto. The stormy U.S. presidential
campaigns will have ended. And the new U.S. president should begin the
task of selling the trade pact to Congress.
U.S. small investors trying to pick individual stocks in Mexico have to
be careful about which sectors they get into, however. One such investor,
Dennis Donham, a university administrator from Pittsburgh, has an
admirable track record on the Bolsa. He was able to make a down payment on
a new home with profit earned from investing in the Mexican telephone
monopoly Telefonos de Mexico, or Telmex, during the market's previous bull
run. Lately, he has tried to repeat his success by buying shares of a
Mexican supermarket chain, Soriana. But retailing companies have been
among those hurt the most by the slow growth of the Mexican economy.
Market pros say the safest bet for investors is to select stocks that
aren't only cheap but are also relatively insulated from the current
slowdown in the economy. Notable among these is Telmex, whose American
depositary receipts trade on the Big Board. Telephone "line growth will
continue to be unaffected by short-term swings in economic growth, due to
Telmex's large installation backlog," says Scott Galle, an analyst at D.A.
Campbell, a Santa Monica, Calif., firm specializing in Latin American
stocks. He's expecting Telmex to post a third-quarter profit of $1.12 per
ADR, compared with 90 cents a year earlier.
Other analysts favor Grupo Sidek, a steelmaker and tourism developer. Its
ADR, quoted in the pink sheets, is trading at only about 5 times this
year's earnings. Sidek's tourism subsidiary, Situr, has prospered during
the economic slowdown by diversifying away from recession-racked Americans
and marketing to European and Mexican tourists, according to D.A.
Campbell's George Santana. During one recent stretch, Situr's flagship
hotel in Cancun was fully booked for 48 days in a row.
Other analysts favor building and construction stocks, which would
benefit from the expected decline in interest rates. Cementos Mexicanos,
the fourth-largest cement maker in the world, has seen its stock mauled
since the company announced a surprise diversification into Spain last
July. But Smith Barney's Scott Kalb says that at its current price of
about 6 times projected 1993 earnings, "Cemex is way oversold."
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys MERCHANTS GROUP INC. Stock
ISSUER: MERCHANTS GROUP INC.
SYMBOL: MGP
FILER: MURPHY EDWARD M
TITLE: Officer.
PURCHASED: 9/15/92 100 13.75
OWNERSHIP: 750 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120517
SUBJ: Insider Buys MERCHANTS GROUP INC. Stock
ISSUER: MERCHANTS GROUP INC.
SYMBOL: MGP
FILER: ZAK ROBERT M
TITLE: Vice president.
PURCHASED: 9/17/92 400 13.50
OWNERSHIP: 800 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys MICHIGAN NATIONAL CORP. Stock
ISSUER: MICHIGAN NATIONAL CORP.
SYMBOL: MNCO
FILER: PICKARD WILLIAM F
TITLE: Director.
PURCHASED: 9/30/92 335 44.13
OWNERSHIP: 1,832 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120241
SUBJ: Bonn Contemplates -3: EC Core Seen Going For Own Union
'I think the main effect of non-ratification by Britain would be a
disaster for Britain,' said Werner Hoyer, the FDP's parliamentary whip. 'I
am quite sure the core of the EC would still develop into a European
union. I also am quite sure that a couple of very important nations that
are presently not EC member nations would participate then.'
Under this idea, the EC core, defined by Hoyer as its original members -
Germany, France, the Benelux countries and Italy - would forge a union
that might also include Scandinavian nations, Austria and maybe even
Switzerland.
'I can see interesting options there, but no matter how nice they might
look, they are only second-best solutions' to ratifying Maastricht, Hoyer
said.
Still unexplained is how Italy's beleaguered economy would stand up to
the stiff competition of its northern neighbors in a future European union
or how EC membership for Scandinavia, Switzerland and Austria would lead
almost immediately to a deeper union with only some EC members.
Also unsaid is that the Scandinavian countries and Switzerland would
likely have to make these decisions based on public referenda. In light of
the narrow French vote in favor of Maastricht and the Danish vote to
reject, there is no guarantee Swiss or Scandinavian voters would be more
amenable.
'My impression is that they (the government) don't have an answer yet' to
what comes next if Maastricht fails, Thies said.
- - 0642GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120242
SUBJ: Japan's Trade Surplus-2: Grows For 21st Consecutive Month
TOKYO -(AP-DJ)--Japan's trade surplus for September, before adjustment
for seasonal factors, was 12.07 billion dlrs, up 25% from the
9.66-billion-dlr surplus for the corresponding month a year earlier, the
Finance Ministry reported Monday.
September was the 21st consecutive month for which Japan's trade surplus
was bigger than in the corresponding month a year earlier. The
acceleration of the surplus is a politically sensitive issue between Japan
and the U.S. and other trading partners.
The latest surplus is in line with the average of forecasts by analysts
that -(AP-Dow Jones surveyed last week. They saw the surplus at 12.3
billion dlrs, reflecting exports of 30.4 billion dlrs and imports of 18.1
billion dlrs.
Japan's unadjusted surplus with the U.S. in September grew 5.8% to 4.84
billion dlrs from 4.58 billion dlrs a year ago for a year-on-year increase
for the sixth month in a row. In March, the surplus with the U.S. shrank
from year-earlier levels for the first time in eight months.
The finance ministry also released trade data Wednesday for the first
half of fiscal 1992. Japan's unadjusted trade surplus during the
April-September period grew 32% to 52.46 billion dlrs from 39.68 billion
dlrs in the corresponding term in the previous fiscal year. Japan's
unadjusted surplus with the U.S. during the six-month period increased 22%
to 21.16 billion dlrs from 17.37 billion dlrs a year earlier.
- - 0643GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 180 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120243
SUBJ: Bonn Contemplates -4: Officials Act To Soothe Public
'There has been deep uncertainty since the close outcome of the French
referendum,' Thies added. 'Since they don't know what to do, they are
continuing to say what they have always said.'
Although the German government is trying to maintain a united front in
support of Maastricht, some of its actions belie the doubts that are
swelling to the surface.
Most significantly, it promised the parliament last Thursday that it
wouldn't proceed with the full currency union without parliamentary
approval. The Maastricht Treaty itself makes no provision for this step.
While government officials have repeatedly denied publicly that the vote
is effectively a German 'opt-out' clause, they also refuse to discuss the
consequences of a 'no' vote by parliament.
'I couldn't imagine parliament not approving the entry of Germany into
monetary union if the criteria laid down in Maastricht are strictly met,'
said a finance ministry spokesman said.
Also last Thursday, Finance Minister Theo Waigel created a furor when he
said the single European currency envisioned by Maastricht wouldn't be the
European Currency Unit (ECU) but a Euro-mark. This raised fears that
Germany was outlining a smaller currency union than the one planned at
Maastricht.
Politicians have since said that Waigel's statements were meant only for
domestic consumption and to reassure German citizens that the European
currency would be at least as stable as the Deutsche mark.
'These are all things that are said in order to soothe the national
public,' Irmer said.
-0- 0644GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys MODINE MANUFACTURING CO. Stock
ISSUER: MODINE MANUFACTURING CO.
SYMBOL: MODI
FILER: MODINE MANUF CO ESOIP
TITLE: Trustee.
PURCHASED: 9/25/92 57,314 30.00
OWNERSHIP: 2,793,943 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MODINE MANUFACTURING CO. Stock
ISSUER: MODINE MANUFACTURING CO.
SYMBOL: MODI
FILER: MODINE MANUF CO ESOIP
TITLE: Trustee.
SOLD: 9/25/92 12,581 30.00
OWNERSHIP: 2,793,943 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MODINE MANUFACTURING CO. Stock
ISSUER: MODINE MANUFACTURING CO.
SYMBOL: MODI
FILER: MODINE MANUF CO TRUST
TITLE: Beneficial owner.
SOLD: 9/25/92 22,367 30.00
OWNERSHIP: 1,384,975 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys MERRILL CORP. Stock
ISSUER: MERRILL CORP.
SYMBOL: MRLL
FILER: HOGE RONALD N
TITLE: Director.
PURCHASED: 9/8/92 4,000 9.38
OWNERSHIP: 5,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120244
SUBJ: Australian Housing-Finance Demand Waned In Sept, ABA Says
MELBOURNE -(AP-DJ)--Australian banks saw a 'marginal' reduction in demand
for housing finance in September from August, but the decline doesn't
suggest the nation's housing recovery has peaked, according to the
Australian Bankers' Association (ABA).
In a formal statement, the Association's Executive Director Alan Cullen
said Wednesday that 'banks advise some marginal easing in the level of
commitments from the strong August level in September, but no more than is
accounted for by month-to-month volatility.'
'The latest figures don't indicate that the housing recovery is topping
out yet,' Cullen said.
Cullen was commenting following news from the Australian Bureau of
Statistics that the number of housing-finance approvals in Australia rose
8.3% in August from July on a seasonally adjusted basis. The value of
housing-finance commitments rose 12.9% in August.
-0- 0645GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120245
SUBJ: ALL SUBSCRIBERS: The headline 'Tokyo Stocks End...' timed aroud 0639
GMT, should read 'Tokyo Stocks End Mixed;
Nikkei 17,344.03, Down 0.84%.' (correcting to 'mixed' from 'lower' to
reflect overall market.)
-0- 0646GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120245
SUBJ: Australian Stock Trading Activity
Category Volume Value AUD Rises Falls Steady
Mining 46,860,057 34,518,050 43 44 82
Oil 9,226,030 7,680,186 7 10 16
Industrial 56,150,977 150,436,254 89 98 128
Total 112,237,064 192,634,490 139 152 226
-0- 0646GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
HOT
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120255
SUBJ: *French Central Banker Hopes German Rates Can Come Down
- - 0655GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MERRILL CORP. Stock
ISSUER: MERRILL CORP.
SYMBOL: MRLL
FILER: NIENHOUSE ROBERT F
TITLE: Director.
SOLD: 9/3-25/92 20,000 9.25-10.00
OWNERSHIP: 563,846 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120255
SUBJ: Japan's Trade Surplus-3: Imports Up 8.6% From Year Ago
In September, overall exports, as measured when goods passed through
customs, rose 14% to 31.60 billion dlrs from 27.65 billion dlrs, for the
28th consecutive month of gain from the year-earlier level.
Japan's overall customs-cleared imports came to 19.53 billion dlrs, up
8.6% from 17.99 billion dlrs a year earlier. In August, imports fell on
year for the first time in four months.
The September unadjusted surplus was up 71% from the August unadjusted
surplus, while exports were 21% and imports were up 2.4%. For August the
surplus was 7.07 billion dlrs, up 24% from 5.70 billion dlrs a year
before. Exports in August were 26.14 billion dlrs, up 5.4%. Imports that
month came to 19.07 billion dlrs, down 0.2%. The Finance Ministry revised
the August surplus to smaller than the 7.50 billion yen that it initially
reported. The ministry originally reported exports at 26.53 billion dlrs
and imports 19.02 billion dlrs for August.
- - 0655GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120255
SUBJ: Australian Shares Close Softer On Directionless Trading
SYDNEY -(AP-DJ)--Australian stocks drifted to a softer close Wednesday
after directionless trading kept the main share index within a five-point
range.
The All-Ordinaries index closed down 3.2 points at 1,453.8.
The index, which started at 1,651.4, is almost back at its 18-month
closing low of 1,452.4, achieved Oct. 6.
The index drifted for most of the day, with weaker prices for some metals
and a drop in the gold price responsible for a drift down in some resource
stocks.
Trading was directionless despite stronger performances on international
markets Tuesday. Data showing an 8.3% growth in the volume of new
Australian housing approvals for August failed to move the market, traders
said.
Chris Kincaid, an institutional trader for brokerage BOS Stockbroking
Ltd. said 'investors were unprepared to commit themselves and take a
position in the present uncertain climate. He cited the U.S. presidential
election and the possibility of further monetary easings in the U.S. and
Germany as generating much of the uncertainty on financial markets.
Turnover on Australian markets totaled 112 million shares valued around
193 million Australian dlrs, compared with Tuesday's 111 million shares
valued around 207 million AUS dlrs.
Falls outnumbered rises 152 to 139.
On the Sydney Futures Exchange, the December share price index futures
contract fell to 1,446.0 from 1,457.0 Tuesday.
- - 0656GMT
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120258
SUBJ: S. African Stockbroker Convicted On 48 Fraud Counts
JOHANNESBURG -(AP-DJ)--A former leading South African stockbroker was
convicted on 48 counts of fraud late Tuesday for a series of irregular
share transactions.
Greg Blank, former director of Johannesburg brokerage firm Frankel, Max
Pollak, Vinderine Inc., pleaded guilty to charges of buying shares on the
Johannesburg Stock Exchange at market price and selling them at a profit
to life insurance company SA Mutual (Old Mutual).
The scheme, which involved several Old Mutual managers, is estimated to
have netted 10 million rand. Blank personally made a profit of 1.41
million rand out of the deal.
Blank's attorney, Clive Cohen, claimed Blank had been blackmailed by
senior Old Mutual managers who threatened to take the company's business
to another brokerage firm unless Blank complied.
Cohen said Blank had repaid Old Mutual the profits he made from the deal
plus 18.5% interest.
Analysts say Blank's conviction is a positive sign that the enforcement
of securities legislation is being taken more seriously in South Africa.
Insider trading and illegal share dealings are rife on the Johannesburg
Stock Exchange, yet few prosecutions have occurred, they say.
-0- 0658GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MEDICINE SHOPPE INTERNATIO Stock
ISSUER: MEDICINE SHOPPE INTERNATIONAL INC.
SYMBOL: MSII
FILER: LEVINE GARY M
TITLE: Officer.
SOLD: 9/25/92 3,000 23.75
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys MUNIYIELD NEW JERSEY FUND Stock
ISSUER: MUNIYIELD NEW JERSEY FUND INC.
SYMBOL: MYJ
FILER: GIORDANO VINCENT R
TITLE: Vice president.
PURCHASED: 9/28-30/92 2,525 14.87
OWNERSHIP: 2,525 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MYLEX CORP. Stock
ISSUER: MYLEX CORP.
SYMBOL: MYLX
FILER: ALI NAZAKAT
TITLE: Officer.
SOLD: 9/8-28/92 15,000 4.50
OWNERSHIP: 15,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MYLEX CORP. Stock
ISSUER: MYLEX CORP.
SYMBOL: MYLX
FILER: GUPTA PARVEEN
TITLE: Officer.
SOLD: 9/2-8/92 15,000 4.30-4.42
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells MYLEX CORP. Stock
ISSUER: MYLEX CORP.
SYMBOL: MYLX
FILER: KHALED IBRAHIM
TITLE: Officer.
SOLD: 9/3/92 5,000 4.38
OWNERSHIP: 5,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Economic Wire
DJ International News Economic Wire
Accession: 000000000000, Page:
SOURCE: DowInt
DATE: 199404120259
SUBJ: N.Z. Dollar Closes Slightly Higher In Moderate Trading
WELLINGTON -(AP-DJ)--The New Zealand dollar closed slightly higher in
moderate trading Wednesday, with local dealers expecting the domestic
currency to consolidate around present levels.
'The dollar traded in a gentle range today and didn't do too much at
all,' an Auckland-based dealer said.
'It's moved up a little in the last couple of days and is just
consolidating on that at the moment,' the dealer said.
Late Wednesday, the New Zealand dollar was quoted at 0.5428 U.S. dlr,
just up from 0.5424 U.S. dlr late Tuesday in Wellington, but down from its
local open at 0.5435 U.S. dlr.
The local currency traded in moderate range of 0.5424-0.5446 U.S. dlr
Wednesday.
Against its trade-weighted index the New Zealand dollar slipped to 53.93
Wednesday, from 53.97 Tuesday.
On a cross rate with the neighboring Australian dollar the New Zealand
dollar closed at 0.7512 AUS dlr Wednesday, down from 0.7525 AUS dlr
Tuesday.
'There has been some good economic data out on New Zealand recently and I
think the dollar will improve over time,' the dealer said.
The statistics department issued Wednesday New Zealand's latest consumer
price inflation data, showing the country had an inflation rate of just
1.0% in the 12 months ended Sept. 30, level with the 1.0% rate recorded
for the 12 months to June 30.
- - 0659GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells ASSOCIATED NATURAL GAS COR Stock
ISSUER: ASSOCIATED NATURAL GAS CORP
SYMBOL: NGA
FILER: ANDERSON DONALD H
TITLE: President.
SOLD: 9/2/92 1,000 28.50
OWNERSHIP: 40,174 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells ASSOCIATED NATURAL GAS COR Stock
ISSUER: ASSOCIATED NATURAL GAS CORP
SYMBOL: NGA
FILER: BIDDLE WAYNE T
TITLE: Director.
SOLD: 9/11/92 1,000 28.75
OWNERSHIP: 10,650 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells ASSOCIATED NATURAL GAS COR Stock
ISSUER: ASSOCIATED NATURAL GAS CORP
SYMBOL: NGA
FILER: CARLSON ERIK B
TITLE: Vice president.
SOLD: 9/22/92 2,000 30.25
OWNERSHIP: 32,685 Direct Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells ASSOCIATED NATURAL GAS COR Stock
ISSUER: ASSOCIATED NATURAL GAS CORP
SYMBOL: NGA
FILER: DICKEY WILLIAM S
TITLE: Officer.
SOLD: 9/3/92 500 28.88
OWNERSHIP: 0 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:08
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells ASSOCIATED NATURAL GAS COR Stock
ISSUER: ASSOCIATED NATURAL GAS CORP
SYMBOL: NGA
FILER: GRACE J ROGER
TITLE: Vice president.
SOLD: 9/2/92 400 28.50
OWNERSHIP: 12,268 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells ASSOCIATED NATURAL GAS COR Stock
ISSUER: ASSOCIATED NATURAL GAS CORP
SYMBOL: NGA
FILER: QUIGLEY MICHAEL J
TITLE: Officer and director.
SOLD: 9/22/92 500 30.50
OWNERSHIP: 33,771 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys NOVAMETRIX MEDICAL SYSTEMS Stock
ISSUER: NOVAMETRIX MEDICAL SYSTEMS INC.
SYMBOL: NMTX
FILER: BARELA DAVID G
TITLE: Officer.
PURCHASED: 9/23/92 500 2.50
OWNERSHIP: 10,500 Direct Common
COMMENT: Private Purchase
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells NICHOLS RESEARCH CORP. Stock
ISSUER: NICHOLS RESEARCH CORP.
SYMBOL: NRES
FILER: BARNES BILLY G
TITLE: Vice president.
SOLD: 9/30/92 5,000 15.45
OWNERSHIP: 20,776 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells OXFORD HEALTH PLANS INC. Stock
ISSUER: OXFORD HEALTH PLANS INC.
SYMBOL: OXHP
FILER: SAFIRSTEIN BENJAMIN H
TITLE: Director.
SOLD: 8/13/92-9/23/92 2,500 27.63-36.00
OWNERSHIP: 18,733 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: BT, Service: CO
Permanent, 90 Days
The Wall Street Journal
The Wall Street Journal
Accession: 000000000000, Page:
SOURCE: DowNews
DATE: 199404120604
SUBJ: Monsanto Pressed -2-: Searle Executive's Stock Sale
THIS IS A TEST FOR CHANGE STORY ONLY
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys PARLUX FRAGRANCES INC. Stock
ISSUER: PARLUX FRAGRANCES INC.
SYMBOL: PARL
FILER: LEKACH ILIA
TITLE: Director and beneficial owner.
PURCHASED: 9/8-29/92 12,800 3.00-3.38
OWNERSHIP: 715,922 Indirect Common
COMMENT: Open Market Purchase
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys PARLUX FRAGRANCES INC. Stock
ISSUER: PARLUX FRAGRANCES INC.
SYMBOL: PARL
FILER: PACIFIC INVESTMENT GROUP INC
TITLE: Beneficial owner.
PURCHASED: 9/8-29/92 12,800 3.00-3.38
OWNERSHIP: 565,922 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys PLAYERS INTERNATIONAL INC. Stock
ISSUER: PLAYERS INTERNATIONAL INC.
SYMBOL: PLAY
FILER: GOLDBERG HARVEY
TITLE: Vice president.
PURCHASED: 9/21/92 1,000 1.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PENRIL DATACOMM NETWORKS I Stock
ISSUER: PENRIL DATACOMM NETWORKS INC.
SYMBOL: PNRL
FILER: RICE JAMES S
TITLE: Director.
SOLD: 9/11/92 4,000 5.25
OWNERSHIP: 0 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PEER REVIEW ANALYSIS INC. Stock
ISSUER: PEER REVIEW ANALYSIS INC.
SYMBOL: PRAI
FILER: ROBBINS RUSSELL G
TITLE: Officer and director.
SOLD: 9/15-24/92 22,000 3.50-3.88
OWNERSHIP: 5,500 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PREMIER ANESTHESIA INC. Stock
ISSUER: PREMIER ANESTHESIA INC.
SYMBOL: PRAN
FILER: BALLARD RICHARD D
TITLE: President.
SOLD: 9/17/92 1,700 9.00
OWNERSHIP: 5,250 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys PERRIGO CO. Stock
ISSUER: PERRIGO CO.
SYMBOL: PRGO
FILER: JALENAK LEO R JR
TITLE: Director.
ADDRESS: GIBSON GREETINGS INC.
2100 SECTION ROAD
CINCINNATI, OH 45237
PHONE: (513)841-6600
PURCHASED: 9/30/92 500 32.00
OWNERSHIP: 14,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PROGRESS SOFTWARE CORP. Stock
ISSUER: PROGRESS SOFTWARE CORP.
SYMBOL: PRGS
FILER: CARMERIS DEAN L
TITLE: Officer.
SOLD: 9/29/92 5,000 47.25
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PROGRESS SOFTWARE CORP. Stock
ISSUER: PROGRESS SOFTWARE CORP.
SYMBOL: PRGS
FILER: CRISMOND MICHAEL J
TITLE: Divisional officer.
SOLD: 9/29/92 3,000 46.94
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PROGRESS SOFTWARE CORP. Stock
ISSUER: PROGRESS SOFTWARE CORP.
SYMBOL: PRGS
FILER: JOHNSON CARY L
TITLE: Officer.
SOLD: 9/29/92 10,000 46.31
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PAC RIM HOLDING CORP. Stock
ISSUER: PAC RIM HOLDING CORP.
SYMBOL: PRIM
FILER: BRAUN STANLEY
TITLE: President.
SOLD: 9/1-4/92 17,000 3.38
OWNERSHIP: 392,883 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PHARMACEUTICAL RESOURCES I Stock
ISSUER: PHARMACEUTICAL RESOURCES INC.
SYMBOL: PRX
FILER: PATEL ASHOK
TITLE: Beneficial owner.
SOLD: 9/3-25/92 24,500 5.50-7.25
OWNERSHIP: 281,263 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PUBLIC STORAGE PROPERTIES Stock
ISSUER: PUBLIC STORAGE PROPERTIES VIII INC. CL A
SYMBOL: PSJ
FILER: HUGHES B WAYNE
TITLE: President.
SOLD: 9/3/92 2,434 16.13
OWNERSHIP: 0 Indirect Common Class I
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PUGET SOUND BANCORP Stock
ISSUER: PUGET SOUND BANCORP
SYMBOL: PSNB
FILER: CLARK DALE E
TITLE: Vice president.
SOLD: 9/3/92 3,000 41.25
OWNERSHIP: 1,320 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PUGET SOUND BANCORP Stock
ISSUER: PUGET SOUND BANCORP
SYMBOL: PSNB
FILER: GARDNER GARY N
TITLE: Vice president.
SOLD: 9/3/92 6,240 41.25
OWNERSHIP: 8,064 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PUGET SOUND BANCORP Stock
ISSUER: PUGET SOUND BANCORP
SYMBOL: PSNB
FILER: MAXWELL JAMES L
TITLE: Shareholder.
SOLD: 9/3/92 1,700 41.00-41.25
OWNERSHIP: 24,678 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys PUBLIC STORAGE PROPERTIES Stock
ISSUER: PUBLIC STORAGE PROPERTIES XVIII INC.
SYMBOL: PSW
FILER: HUGHES B WAYNE
TITLE: President.
PURCHASED: 9/3-30/92 6,200 9.63-10.25
OWNERSHIP: 90,774 Indirect Common Class I
COMMENT: Open Market Purchase
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells PACER TECHNOLOGY Stock
ISSUER: PACER TECHNOLOGY
SYMBOL: PTCH
FILER: HOCKIN JOHN G II
TITLE: Director and beneficial owner.
SOLD: 9/8-11/92 18,000 1.25-1.38
OWNERSHIP: 230,428 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells QUANTUM HEALTH RESOURCES I Stock
ISSUER: QUANTUM HEALTH RESOURCES INC.
SYMBOL: QHRI
FILER: HALSTEAD TOM M
TITLE: Officer.
SOLD: 9/2-11/92 1,667 24.25-27.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells QUANTUM HEALTH RESOURCES I Stock
ISSUER: QUANTUM HEALTH RESOURCES INC.
SYMBOL: QHRI
FILER: LANGSTRAAT HARLAN J
TITLE: Officer.
SOLD: 9/11-15/92 2,000 27.25-28.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:09
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells QUANTUM HEALTH RESOURCES I Stock
ISSUER: QUANTUM HEALTH RESOURCES INC.
SYMBOL: QHRI
FILER: LUCAS DONALD L
TITLE: Shareholder.
SOLD: 9/10-11/92 20,240 26.25-27.00
OWNERSHIP: 177,000 Indirect Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells QUANTUM HEALTH RESOURCES I Stock
ISSUER: QUANTUM HEALTH RESOURCES INC.
SYMBOL: QHRI
FILER: SCUDIERY MARK W
TITLE: Officer.
SOLD: 9/15/92 2,000 28.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells QUANTUM HEALTH RESOURCES I Stock
ISSUER: QUANTUM HEALTH RESOURCES INC.
SYMBOL: QHRI
FILER: STEEVER W BRUCE
TITLE: Vice president.
SOLD: 9/1-15/92 10,000 24.50-28.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys REDWOOD EMPIRE BANCORP Stock
ISSUER: REDWOOD EMPIRE BANCORP
SYMBOL: REB
FILER: KELLEY DENNIS E
TITLE: Vice president.
PURCHASED: 9/11/92 1,000 7.75
OWNERSHIP: 2,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells REDWOOD EMPIRE BANCORP Stock
ISSUER: REDWOOD EMPIRE BANCORP
SYMBOL: REB
FILER: OMAHONEY TERANCE
TITLE: Director.
SOLD: 9/9/92 3,483 7.50
OWNERSHIP: 94,805 Direct Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells REDWOOD EMPIRE BANCORP Stock
ISSUER: REDWOOD EMPIRE BANCORP
SYMBOL: REB
FILER: SLATT BARRY S
TITLE: Director.
SOLD: 9/2-23/92 8,900 7.63-8.00
OWNERSHIP: 69,963 Direct Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Sells RETIX INC. Stock
ISSUER: RETIX INC.
SYMBOL: RETX
FILER: CRAWFORD ROBERT
TITLE: Divisional officer.
SOLD: 9/2/92 5,000 10.50
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys ROCK FINANCIAL CORP. Stock
ISSUER: ROCK FINANCIAL CORP.
SYMBOL: RFIN
FILER: MORGAN JOHN F
TITLE: Director.
PURCHASED: 9/22/92 15,000 10.00
OWNERSHIP: 15,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys ROCK FINANCIAL CORP. Stock
ISSUER: ROCK FINANCIAL CORP.
SYMBOL: RFIN
FILER: SCHOLTEN JOYCE F
TITLE: Director.
PURCHASED: 9/22/92 10,000 10.00
OWNERSHIP: 10,000 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120518
SUBJ: Insider Buys ROCK FINANCIAL CORP. Stock
ISSUER: ROCK FINANCIAL CORP.
SYMBOL: RFIN
FILER: STEVENSON THEODORE T
TITLE: Director.
PURCHASED: 9/22/92 22,425 10.00
OWNERSHIP: 22,425 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells RALLY'S INC. Stock
ISSUER: RALLY'S INC.
SYMBOL: RLLY
FILER: KLAUSMAN CHARLES W
TITLE: Vice president.
SOLD: 9/10/92 7,500 15.58
OWNERSHIP: 7,500 Direct Common
COMMENT: Open Market Sale
10/14/92 03:10
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120109
SUBJ: THIS IS A TEST FOR CHANGE HEADLINE ONLY
TOKYO -(AP-DJ)--Japanese corporate insolvencies in
September jumped 35% from the year before to 1,145 cases,
marking the 24th consecutive month of year-on-year increase,
private credit research agency Teikoku Data Bank Ltd.
announced Wednesday.
Insolvent companies left behind debts of 706.7 billion
yen in September, up 25% from the year before and the third
highest total over the first nine months of 1992.
Teikoku Data Bank said September's insolvencies and bad
debt figures were swelled by a few major real estate-related
failures as well as a growing number of insolvencies tied to
weak demand conditions. The number of "recession"
insolvencies - tied to factors such as weak sales and
exports - in September climbed to 577, or 50.4% of the
total, a high for the year.
September was the eighth month in a row that the number
of insolvencies exceeded 1,000.
September's 1,145 insolvencies were 3.8% below August's
total of 1,154. But debts left behind in September surged
86% from August's 380.1-billion-yen total.
- - 0017EDT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells SONESTA INTERNATIONAL HOTE Stock
ISSUER: SONESTA INTERNATIONAL HOTELS CORP.
SYMBOL: SNSTA
FILER: SONNABEND PAUL
TITLE: Director and beneficial owner.
SOLD: 8/26/92 85,900 7.50
OWNERSHIP: 527,114 Direct Common
COMMENT: Private Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells SONESTA INTERNATIONAL HOTE Stock
ISSUER: SONESTA INTERNATIONAL HOTELS CORP.
SYMBOL: SNSTA
FILER: SONNABEND PETER J
TITLE: Officer and beneficial owner.
SOLD: 8/26/92 15,000 7.50
OWNERSHIP: 86,612 Direct Common
COMMENT: Private Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells SONESTA INTERNATIONAL HOTE Stock
ISSUER: SONESTA INTERNATIONAL HOTELS CORP.
SYMBOL: SNSTA
FILER: SONNABEND ROGER
TITLE: Officer and director.
SOLD: 8/26/92 95,517 7.50
OWNERSHIP: 562,084 Direct Common
COMMENT: Private Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells SONESTA INTERNATIONAL HOTE Stock
ISSUER: SONESTA INTERNATIONAL HOTELS CORP.
SYMBOL: SNSTA
FILER: SONNABEND STEPHEN
TITLE: Director and beneficial owner.
SOLD: 8/26/92 110,000 7.50
OWNERSHIP: 215,710 Direct Common
COMMENT: Private Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells SONESTA INTERNATIONAL HOTE Stock
ISSUER: SONESTA INTERNATIONAL HOTELS CORP.
SYMBOL: SNSTA
FILER: SONNABEND THOMAS A
TITLE: Beneficial owner.
SOLD: 8/26/92 15,000 7.50
OWNERSHIP: 72,708 Direct Common
COMMENT: Private Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells TERADYNE INC. Stock
ISSUER: TERADYNE INC.
SYMBOL: TER
FILER: DIAS RONALD J
TITLE: Vice president.
SOLD: 9/10-18/92 8,000 13.75-14.00
OWNERSHIP: 0 Direct Common
COMMENT: Open Market Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells TERADYNE INC. Stock
ISSUER: TERADYNE INC.
SYMBOL: TER
FILER: LASSITER JOSEPH B
TITLE: Vice president.
SOLD: 9/1-17/92 12,000 12.50-14.25
OWNERSHIP: 45,100 Direct Common
COMMENT: Open Market Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells TERADYNE INC. Stock
ISSUER: TERADYNE INC.
SYMBOL: TER
FILER: MCCABE JOHN P
TITLE: Officer.
SOLD: 9/3-15/92 2,000 13.63-13.75
OWNERSHIP: 2,386 Direct Common
COMMENT: Open Market Sale
10/14/92 03:11
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells TERADYNE INC. Stock
ISSUER: TERADYNE INC.
SYMBOL: TER
FILER: OSATTIN STUART M
TITLE: Officer.
SOLD: 9/17/92 2,000 14.25
OWNERSHIP: 12,248 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells TERADYNE INC. Stock
ISSUER: TERADYNE INC.
SYMBOL: TER
FILER: VANVEEN FREDERICK T
TITLE: Vice president.
ADDRESS: TERADYNE INC.
321 HARRISON AVENUE
BOSTON, MA 02118
PHONE: (617)482-2700
SOLD: 9/3-15/92 13,000 14.00
OWNERSHIP: 14,630 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells MEDIA LOGIC INC. Stock
ISSUER: MEDIA LOGIC INC.
SYMBOL: TST
FILER: PETER KLAUS J
TITLE: Director and beneficial owner.
SOLD: 9/1-10/92 18,200 14.81-17.00
OWNERSHIP: 250,400 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells U.S. SURGICAL CORP. Stock
ISSUER: U.S. SURGICAL CORP.
SYMBOL: USS
FILER: BREMER THOMAS R
TITLE: Vice president.
SOLD: 9/14/92 2,600 74.02
OWNERSHIP: 20,730 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Buys VALUE LINE INC. Stock
ISSUER: VALUE LINE INC.
SYMBOL: VALU
FILER: BUTTNER JEAN B
TITLE: Officer, director and beneficial owner.
PURCHASED: 9/30/92 100 26.50
OWNERSHIP: 100 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Buys VENTURA COUNTY NATIONAL BA Stock
ISSUER: VENTURA COUNTY NATIONAL BANCORP
SYMBOL: VCNB
FILER: BENNETT RALPH R
TITLE: Director.
PURCHASED: 9/29-30/92 2,000 3.25
OWNERSHIP: 5,695 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells VENTURE STORES INC. Stock
ISSUER: VENTURE STORES INC.
SYMBOL: VEN
FILER: ELLER CALVIN C
TITLE: Vice president.
SOLD: 9/15/92 3,000 26.50-26.63
OWNERSHIP: 11,492 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells VALUE HEALTH INC. Stock
ISSUER: VALUE HEALTH INC.
SYMBOL: VHII
FILER: WARBURG PINCUS CAP CO LP
TITLE: Beneficial owner.
SOLD: 9/17-22/92 122,250 25.75-27.00
OWNERSHIP: 7,500,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Buys VSB BANCORP INC. Stock
ISSUER: VSB BANCORP INC.
SYMBOL: VSBC
FILER: INTORRE LOUIS GLEN
TITLE: Vice president.
PURCHASED: 9/2-8/92 550 14.00
OWNERSHIP: 750 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells WORTHINGTON FOODS INC. Stock
ISSUER: WORTHINGTON FOODS INC.
SYMBOL: WFDS
FILER: POSTON FRANKLIN D
TITLE: Officer.
SOLD: 9/28/92 4,000 10.00
OWNERSHIP: 8,000 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells ROADMASTER INDUSTRIES INC. Stock
ISSUER: ROADMASTER INDUSTRIES INC.
SYMBOL: WHEL
FILER: EQUITEX INC
TITLE: Beneficial owner.
SOLD: 8/27/92 200,000 1.48
OWNERSHIP: 5,322,500 Direct Common
COMMENT: Private Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Sells WOLOHAN LUMBER CO. Stock
ISSUER: WOLOHAN LUMBER CO.
SYMBOL: WLHN
FILER: WOLOHAN THOMAS R
TITLE: Officer.
SOLD: 9/21/92 5,000 21.50
OWNERSHIP: 125,963 Direct Common
COMMENT: Open Market Sale
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Buys W-W CAPITAL CORP. Stock
ISSUER: W-W CAPITAL CORP.
SYMBOL: WWC
FILER: PATTON DAVID L
TITLE: Director.
PURCHASED: 9/2-9/92 54,385 2.00-2.06
OWNERSHIP: 351,923 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120519
SUBJ: Insider Buys YES CLOTHING CO. Stock
ISSUER: YES CLOTHING CO.
SYMBOL: YSCO
FILER: RANDALL GEORGE W
TITLE: Chairman of the board.
PURCHASED: 9/24/92 1,000 2.63
OWNERSHIP: 1,509,500 Direct Common
COMMENT: Open Market Purchase
10/14/92 03:12
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Temporary, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120823
SUBJ: Good Morning From Federal Filings
FORM TYPE: INFO
10/14/92 08:20
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120824
SUBJ: Economic Indicators Available Via Fax For 10/14/92
ISSUER: FEDERAL FILINGS, INC.
SYMBOL: X.FFI
Full-text copies of the following Economic Indicators are available
via fax within minutes of their release. Call 1-800-359-0032 and simply
follow the automated instructions. Have your PIN number ready. First time
callers will be transferred to an operator.
ECONOMIC INDICATOR RELEASES SCHEDULED FOR 10/14/92
DOCUMENT RELEASE TIME RELEASE PRICE
-------- ------------ ------- -----
3029 8:30 EDT Retail Sales $ 7
3062 8:30 EDT Producer Price Index $ 9
For customer support, call 202-628-8915.
10/14/92 08:22
NNNN
===EOD===
ZCZC
Product: DI, Service: CO
Permanent, 90 Days
DJ International News Financial Wire ('World Equity Report')
DJ International News Financial Wire ('World Equity Report')
Accession: 199404115138, Page:
SOURCE: DowInt
DATE: 199404120001
SUBJ: THIS IS A TEST FOR CHANGE HEADLINE ONLY
SECTION: , ACCESSION: 199404115138
(END) AP-DOW JONES NEWS 04-11-94
0358GMT
NNNN
===EOD===
ZCZC
Product: FF, Service: CO
Permanent, 90 Days
Federal Filings
Federal Filings
Accession: 000000000000, Page:
SOURCE: FedFil
DATE: 199404120845
SUBJ: Coast Savings 3rd Qtr Net Inc. Falls 49% To $3.5M (Cont.)
Leverage 4.42 pct. 4.56 pct.
Tangible 3.42 pct. 3.06 pct.
Weighted Average Interest Rates
Loans receivable and
mortgage-backed securities 7.84 percent 9.36 percent
Investment securities 2.81 pct. 4.24 pct.
Interest-earning assets 7.47 pct. 9.06 pct.
Deposits 4.70 pct. 5.74 pct.
Borrowings 5.63 pct. 7.04 pct.
Interest-bearing
liabilities 4.85 pct. 5.91 pct.
Net spread 2.62 pct. 3.15 pct.
One Year Gap (the cumulative
difference between repricing
assets and liabilities)
to Total Assets 13.65 pct. 14.89 pct.
COAST FEDERAL BANK, FSB
PROBLEM ASSETS
(dollars in thousands)
Sept. 30, Dec. 31, March 31,
1990 1990 1991
Foreclosed real estate owned $ 149,220 $ 150,128 $ 142,607
In-substance foreclosed real
estate owned 43,286 67,236 78,574
Non-accrual loans 75,418 70,414 120,465
Non-accrual high-yield bonds 14,515 17,750 15,565
Modified loans/a 43,349 58,563 52,848
Total problem assets 325,788 364,091 410,059
General and applicable specific
valuation allowances (92,800) (92,752) (99,266)
Net problem assets $ 232,988 $ 271,339 $ 310,793
Total assets $ 10,161,772 $ 10,217,024 $ 9,761,115
Ratio of total problem
assets to total assets 3.21 percent 3.56 percent 4.20 percent
Ratio of net problem
assets to total assets 2.29 percent 2.66 percent 3.18 percent
Ratio of valuation allowances
to total problem assets 28.48 percent 25.47 percent 24.21 percent
COAST FEDERAL BANK, FSB
PROBLEM ASSETS
(dollars in thousands)
June 30, Sept. 30, Dec. 31,
1991 1991 1991
Foreclosed real estate owned $ 157,148 $ 143,530 $ 105,977
In-substance foreclosed real
estate owned 85,538 82,791 81,679
Non-accrual loans 111,052 120,643 140,722
Non-accrual high-yield bonds 5,440 5,440 3,215
Modified loans/a 41,210 39,958 38,651
Total problem assets 400,388 392,362 370,244
General and applicable specific
valuation allowances (119,348) (123,500) (140,002)
Net problem assets $ 281,040 $ 268,862 $ 230,242
Total assets $ 9,004,402 $ 8,960,902 $ 8,595,686
Ratio of total problem
assets to total assets 4.45 percent 4.38 percent 4.31 percent
Ratio of net problem
assets to total assets 3.12 percent 3.00 percent 2.68 percent
Ratio of valuation allowances
to total problem assets 29.81 percent 31.48 percent 37.81 percent
COAST FEDERAL BANK, FSB
PROBLEM ASSETS
(dollars in thousands)
March 31, June 30, Sept. 30,
1992 1992 1992
Foreclosed real estate owned $ 127,721 $ 129,712 $ 124,114
In-substance foreclosed real
estate owned 50,034 43,052 51,306
Non-accrual loans 181,956 173,983 175,480
Non-accrual high-yield bonds 3,075 2,075 1,450
Modified loans/a 6,320 6,320 1,350
Total problem assets 369,106 355,142 353,700
General and applicable specific
valuation allowances (150,000) (148,000) (142,000)
Net problem assets $ 219,106 $ 207,142 $ 211,700
Total assets $ 8,657,375 $ 8,500,191 $ 8,425,683
Ratio of total problem
assets to total assets 4.26 percent 4.18 percent 4.20 percent
Ratio of net problem
assets to total assets 2.53 percent 2.44 percent 2.51 percent
Ratio of valuation allowances
to total problem assets 40.64 percent 41.67 percent 40.15 percent
/a Defined as loans which have been restructured with the borrower
such that the modified note rate is less than the applicable market
rate of interest.
CONTACT: Coast Savings Financial Inc., Los Angeles
James F. Barritt or Priscilla Finch, 213/362-2134
10/14/92 08:42
NNNN
===EOD===
ZCZC
Product: CM, Service: CO
Permanent, 90 Days
Capital Market Reports
HOT
Capital Market Reports
Accession: 000000000000, Page:
SOURCE: CapMrkt
DATE: 199404120114
SUBJ: *Japan Ruling Party Powerbroker Kanemaru Quits Parliament: Kyodo
Reports
THIS IS A TEST FOR CHANGE STORY ONLY
NNNN
===EOD===
From jvncnet!wilbur.coyote.trw.com!cwong Tue Apr 19 10:23:17 1994