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Shr profit three cts vs profit nine cts
Net profit 102,136 vs profit 307,516
Revs 8,549,182 vs 8,469,476
Nine mths
Shr loss 13 cts vs profit 28 cts
Net loss 458,823 vs profit 1,014,969
Revs 25.5 mln vs 24.6 mln
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Shr 19 cts vs 38 cts
Net 397,000 vs 788,000
Nine mths
Shr 80 cts vs 1.19 dlrs
Net 1,674,000 vs 2,455,000
NOTE: Company would not provide assets, deposits, and loans
figures.
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Shr 99 cts vs not given
Net 1,943,000 vs not given
Nine mths
Shr 2.35 dlrs vs not given
Net 4,602,000 vs not given
NOTE: Full name is Gateway Federal Savings and Loan
Association. Latest qtr includes a tax credit of 909,000 dlrs
or 46 cents a share. Latest nine mths includes a tax credit of
2,330,000 dlrs or 1.19 dlrs. 1986 figures not given as company
went public on June 2, 1987.
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Shr five cts vs eight cts
Net 100,000 vs 176,000
Revs 4,027,000 vs 3,649,000
NOTE: 1986 qtr includes gain 90,000 dlrs, or four cts per
share, from tax gain.
Reuter
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Atlantic Richfield's Arco Oil and Gas Co
said it increased contract prices for crude oil by 50 cts a
barrel, effective today.
Arco said the 50 cts increase brings its posted price for
West Texas Intermediate, the U.S. benchmark grade, to 19.00
dlrs a barrel.
The price of West Texas Sour was increased to 18.10 dlrs.
Light Louisiana Sweet was raised to 19.35 dlrs.
The price was last changed on September 30.
Reuter
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Shr 39 cts vs 39 cts
Net 24.4 mln vs 23.8 mln
Revs 425.9 mln vs 396.2 mln
Nine mths
Shr 1.23 dlrs vs 1.04 dlrs
Net 76.3 mln vs 64.1 mln
Revs 1.26 billion vs 1.12 billion
NOTE: Net adjusted to account for the recent 2-for-1 split
of the company's common.
Qtr 1986 includes a seven cts per shr gain due to net
after-tax foreign currency exchange effect.
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Oper shr loss 2.51 dlrs vs profit 94 cts
Oper net loss 27.2 mln vs profit 10.3 mln
Revs 464.2 mln vs 504.6 mln
Nine mths
Oper shr loss 1.33 dlrs vs profit 2.57 dlrs
Oper net loss 14.4 mln vs profit 28.2 mln
Revs 1.41 billion vs 1.55 billion
NOTE: 1987 qtr and nine mths excludes loss 41.1 mln dlrs,
or 3.79 dlrs per share, and loss 41.8 mln dlrs, or 3.87 dlrs
per share, respectively, from discontinued real estate
operations.
1986 qtr and nine mths include loss 126,000 dlrs, or one
cent per share, and gain 304,000 dlrs, or three cts per share,
respectively, from discontinued operations.
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Shr 19 cts vs 38 cts
Net 397,000 vs 788,000
Nine mths
Shr 80 cts vs 1.19 dlrs
Net 1,674,000 vs 2,455,000
NOTE: Company would not provide assets, deposits, and loans
figures.
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Taco Bell Corp, a unit of Pepsico Inc,
said it increased its stake in Calny Inc common stock to
1,349,884 shares, or 27.9 pct of the total outstanding, from a
previous figure of approximately 1,230,107 shares, or 25.4 pct.
In a filing with the Securities and Exchange Commission,
Taco Bell said it bought 119,867 Calny common shares on October
15 and 16 at 10.75 dlrs a share.
No reason was given for the recent purchases.
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Groupe Macyro Inc said it
agreed to buy two Quebec construction wholesalers, (Nap Dumont
(1982) Ltd) and (Nap Transport Cie Ltd) for 3.5 mln dlrs.
Macyro said the two companies operate in the construction
material, electiricty, plumbing, hardware and locksmithing
sectors and had sales of 23.5 mln dlrs last year.
Reuter
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Oper shr profit 62 cts vs profit seven cts
Oper net profit 3,492,000 vs profit 401,000
Revs 62.8 mln vs 62.0 mln
Nine mths
Oper shr profit 1.26 dlrs vs loss 42 cts
Oper net profit 7,131,000 vs loss 2,344,000
Revs 190.3 mln vs 180.0 mln
NOTE: 1986 period ended September 28. Results exclude
extraordinary gain from net loss carryforward of 228,000 dlrs
or three cts a shr in the 1987 3rd qtr and 1,043,000 dlrs or 18
cts in the 1987 nine mths. 1986 nine mth results exclude
earnings from discontinued operations of 7,549,000 dlrs or 1.34
dlrs.
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Shr loss two cts vs loss 1.79 dlrs
Net profit 4,959,000 vs loss 56.2 mln
Revs 290.3 mln vs 245.0 mln
Nine mths
Shr loss 75 cts vs loss 1.78 dlrs
Net loss 9,390,000 vs loss 44.2 mln
Revs 800.8 mln vs 838.6 mln
NOTE: Full name is AMCA International Ltd. Results in U.S.
dlrs. Latest qtr earnings include pension refund of 10 mln
dlrs, representing loss of two cts per shr after payment of
preferred dividends.
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Shr 1.17 dlrs vs 80 cts
Net 5,500,000 vs 3,500,000
Nine months
Shr 3.30 dlrs vs 2.10 dlrs
Net 15.1 mln vs 9.2 mln
Assets 1.6 billion vs 1.4 billion
Deposits 1.3 billion vs 1.1 billion
Loans 947.0 mln vs 822.0 mln
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William Crowe, chairman of the U.S.
Joint Chiefs of Staff, predicted Iran will retaliate for the
U.S. strike against its oil platform though he said Iranian
options were limited.
"They will be determined. They will not be easily deterred,
and let me stress for you that our commitment there is not
going to be risk free or casualty free."
He said the most likely Iranian response would involve
terrorism or the laying of mines.
"They obviously will look for ways that are probably more in
line with the 'silent hand' than what they have tried thus far,"
Crowe told an American Stock Exchange conference.
He declined comment on a reporter's query whether he
favored a stronger move against Iran than that ordered by the
president.
"We carried out the operation that was decided upon and we
carried it out with enthusiasm and I think it was
professionally and well done," Crowe said.
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Shr 11 cts vs nine cts
Net 105,489 vs 88,929
Revs 2,306,697 vs 2,066,636
Nine mths
Shr 17 cts vs 14 cts
Net 167,960 vs 136,856
Revs 6,714,468 vs 6,026,343
NOTE: 1987 qtr and nine mths includes tax gain 64,200 dlrs
and 102,200 dlrs, respectively. 1986 qtr and nine mths includes
tax gain 78,000 dlrs and 107,000 dlrs, respectively.
Reuter
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Shr five cts vs seven cts
Net 80,642 vs 115,222
Revs 7,833,570 vs 5,739,443
Nine mths
Shr five cts vs 1.11 dlrs
Net 80,773 vs 1,743,828
Revs 21.6 mln vs 16.3 mln
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Primary shr 68 cts vs 65 cts
Diluted shr 62 cts vs 60 cts
Net 6,053,000 vs 5,803,000
Revs 101.4 mln vs 94.8 mln
Primary avg shrs 8,955,000 vs 8,963,000
Diluted avg shrs 11,031,000 vs 11,010,000
Nine months
Primary shr 1.74 dlrs vs 1.83 dlrs
Diluted shr 1.64 dlrs vs 1.69 dlrs
Net 15.6 mln vs 16.3 mln
Revs 291.4 mln vs 266.7 mln
Primary avg shrs 8,974,000 vs 8,936,000
Diluted avg shrs 11,053,000 vs 10,994,000
NOTE: 1986 third qtr results exclude extraordinary 811,000
dlr gain from termination of a pension plan. 1986 nine month
results include 1,804,000 dlr gain from June 1986 sale of
National Sanitary Supply common stock in an initial offering.
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Shr 27 cts vs 21 cts
Net 988,000 vs 784,000
Nine mths
Shr 82 cts
Net 3,040,000 vs 2,089,000
Assets 284.2 mln vs 244.0 mln
Loans 203.7 mln vs 133.5 mln
Deposits 211.7 mln vs 179.5 mln
NOTE: 1986 nine mths per share not available because bank
did not convert to stock form until May 22, 1986.
Reuter
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Shr 41 cts vs 47 cts
Net 1,002,000 vs 931,000
Avg shrs 2,452,171 vs 1,975,422
Nine mths
Shr 1.23 dlrs vs 1.41 dlrs
Net 3,014,000 vs 2,776,000
Avg shrs 2,444,591 vs 1,967,539
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Shr three cts vs two cts
Net 109,000 vs 67,000
Sales 11.3 mln vs 11.3 mln
Nine mths
Shr seven cts vs 99 cts
Net 221,000 vs 3,213,000
Sales 30.6 mln vs 35.9 mln
Order backlog 22.7 mln vs 13.5 mln
Note: 1986 figures include life insurance proceeds of 2.5
mln dlr or 78 cts a share.
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Shr profit 22 cts vs loss 22 cts
Net profit 430,373 vs loss 433,395
Sales 7,723,838 vs 6,219,157
Nine mths
Shr profit 49 cts vs loss 1.20 dlrs
Net profit 960,008 vs loss 2,338,286
Sales 23.2 mln vs 19.9 mln
NOTE: 1986 data restated to reflect operations discontinued
in 1986
1986 earnings exclude loss from discontinued operations of
319,055 dlrs, or 16 cts a share in the quarter and 906,962
dlrs, or 46 cts a share for the nine months
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STRATUS COMPUTER INC <STRA.O> 3RD QTR NET
shr 26 cts vs 18 cts
net 5,281,000 vs 3,496,000
rev 48.8 mln vs 32.1 mln
nine mos
shr 64 cts vs 51 cts
net 12,852,000 vs 9,822,000
rev 129.0 mln vs 89.2 mln
Reuter

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U.S. warships destroyed an Iranian oil
platform in the Gulf on Monday and the Navy also raided a
second oil rig in retaliation for Friday's Iranian missile
attack on a U.S. flag tanker, the Pentagon said.
President Reagan and Defense Secretary Caspar Weinberger
warned Iran of even stronger countermeasures if the military
escalation between the two countries continued in the volatile
waterway.
Reagan said he ordered the strike on the first platform by
four U.S. destroyers, which fired about 1,000 five-inch shells
at the Rostam oil rig 120 miles east of Bahrain in the central
Gulf.
A short time later, Navy personnel boarded a second Iranian
oil platform about five miles to the north and destroyed radar
and communications equipment before leaving the structure, the
Pentagon said.
Defense Department spokesman Fred Hoffman told reporters
that the second platform had been abandoned by Iranian
personnel during the shelling and destruction of the first rig.
The United States said both platforms were being used to
keep track of Gulf merchant shipping and to launch speedboat
attacks on such shipping by Iranian Revolutionary guards.
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Gulf and Western Inc's publishing unit,
Simon and Schuster, said it agreed in principle to acquire
<Woodhead-Faulkner (Publishers) Ltd>, a British-based publisher
of professional and consumer books, for undisclosed terms.
Upon completion of the proposed transaction,
Woodhead-Faulkner will become part of Simon and Schuster's
International Group, which in the U.K. includes Simon and
Schuster trade books, and Prentice Hall academic texts.
Simon and Schuster said that Woodhead-Faulkner will
continue to publish under that name.
The company will continue to be under the direction of
Martin Woodhead, who will report to Henry Hirschberg, president
of Simon and Schuster's International Group.
Woodhead-Faulkner, founded in 1972, publishes international
banking, finance, and investment books.
Reuter
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Shr 52 cts vs 45 cts
Net 2,623,000 vs 2,256,000
Nine mths
Shr 1.55 dlrs vs 1.45 dlrs
Net 7,744,000 vs 6,542,000
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Shr 16 cts vs 14 cts
Net 954,000 vs 777,000
Revs 24.7 mln vs 21.5 mln
Avg shrs 6,000,000 vs 6,000,000
Nine mths
Shr 39 cts vs 34 cts
Net 2,314,000 vs 1,805,000
Revs 69.2 mln vs 59.3 mln
Avg shrs 6,000,000 vs 5,363,000
Reuter
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Shr 86 cts vs 74 cts
Net 11.1 mln vs 8.6 mln
Revs 87.7 mln vs 80.5 mln
Avg shrs 12,857,904 vs 11,578,259
Nine mths
Shr 2.61 dlrs vs 2.15 dlrs
Net 32.6 mln vs vs 24.8 mln
Revs 269.8 mln vs 257.8 mln
Avg shrs 12,482,780 vs 11,502,035
12 mths
Shr 3.28 dlrs vs 2.80 dlrs
Net 40.3 mln vs 32.1 mln
Revs 355.4 mln vs 342.1 mln
Avg shrs 12,271,220 vs 11,457,028
Reuter
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The European Community is willing to
offer limited concessions to the United States on one of two
major issues which threaten to poison their trade relations
next year, an EC commission spokesman said.
He said the offer would be made at a meeting later this
month between U.S. Trade Representative Clayton Yeutter and EC
External Relations Commissioner Willy de Clercq.
EC Farm Commissioner Frans Andriessen told agriculture
ministers meeting in Luxembourg that the EC is willing to make
some temporary arrangements to lighten the impact on U.S.
Exports of an EC plan to ban the sales of meat from animals fed
with growth hormones, the spokesman said.
Washington has said it will take trade reprisals if the EC
proceeds with the ban from January 1 and if European countries
do not quickly cut back what it sees as unfair subsidies to the
makers of their Airbus airliner which are harming U.S.
Manufacturers.
It claims the hormones ban has no scientific basis and will
rob it of 130 mln dlrs' worth of exports a year.
Diplomatic sources said the Yeutter-de Clercq meeting will
take place in London and will also involve the aerospace
ministers of France, Britain, West Germany and Spain, the
countries involved in the Airbus project.
Reuter
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British Foreign Secretary Sir Geoffrey
Howe backed the United States' attack on an Iranian oil
platform on Monday and said it should not worsen the Gulf
crisis.
"The United States is fully entitled to take military action
in exercise of rights of self-defense, in the face of the
imminent threat of further attacks," Howe said in a statement
issued in London.
The United States said its forces destroyed the platform on
Monday in retaliation for an Iranian missile attack on a U.S.-
flagged Kuwaiti ship last Friday.
Referring to that attack, Howe added, "I trust the Iranians
will fully understand that continued attacks of this kind will
only enhance justification for firm action in self-defense."
At a press conferenced in Luxembourg during a meeting of
European Community (EC) ministers, Howe was asked about
statements from a senior Iranian official who said America was
now involved in a full-scale war.
"It would be profoundly undesirable and quite unjustified
for Iran to react in that way," he said.
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CCR Video Corp said it received an
offer to enter into negotiations for <Intercep Investment Corp>
of Vancouver, B.C., to acquire a controlling interest in the
company through a tender offer.
CCR said the negotiations would determine the terms under
which the CCR board could support an Intercep tender offer.
Additional details were not immediately available.
Reuter
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Huge oil platforms dot the Gulf like
beacons -- usually lit up like Christmas trees at night.
One of them, sitting astride the Rostam offshore oilfield,
was all but blown out of the water by U.S. Warships on Monday.
The Iranian platform, an unsightly mass of steel and
concrete, was a three-tier structure rising 200 feet (60
metres) above the warm waters of the Gulf until four U.S.
Destroyers pumped some 1,000 shells into it.
The U.S. Defense Department said just 10 pct of one section
of the structure remained.
U.S. helicopters destroyed three Iranian gunboats after an
American helicopter came under fire earlier this month and U.S.
forces attacked, seized, and sank an Iranian ship they said had
been caught laying mines.
But Iran was not deterred, according to U.S. defense
officials, who said Iranian forces used Chinese-made Silkworm
missiles to hit a U.S.-owned Liberian-flagged ship on Thursday
and the Sea Isle City on Friday.
Both ships were hit in the territorial waters of Kuwait, a
key backer of Iraq in its war with Iran.
Henry Schuler, a former U.S. diplomat in the Middle East
now with CSIS said Washington had agreed to escort Kuwaiti
tankers in order to deter Iranian attacks on shipping.
But he said the deterrence policy had failed and the level
of violence and threats to shipping had increased as a result
of U.S. intervention and Iran's response.
The attack on the oil platform was the latest example of a
U.S. "tit-for-tat" policy that gave Iran the initiative, said
Harlan Ullman, an ex-career naval officer now with CSIS.
He said with this appraoch America would suffer "the death
of one thousand cuts."
But for the United States to grab the initiative
militarily, it must take warlike steps such as mining Iran's
harbors or blockading the mouth of the Gulf through which its
shipping must pass, Schuler said.
He was among those advocating mining as a means of bringing
Iran to the neogtiating table. If vital supplies were cut off,
Tehran could not continue the war with Iraq.
Ullman said Washington should join Moscow in a diplomatic
initiative to end the war and the superpowers should impose an
arms embargo against Tehran if it refused to negotiate.
He said the United States should also threaten to mine and
blockade Iran if it continued fighting and must press Iraq to
acknowledge responsibility for starting the war as part of a
settlement.
Iranian and Western diplomats say Iraq started the war by
invading Iran's territory in 1980. Iraq blames Iran for the
outbreak of hostilities, which have entailed World War I-style
infantry attacks resulting in horrific casualties.
Each side has attacked the others' shipping.
Reuter
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A U.S. attack on an Iranian oil platform
in the Gulf on Monday appeared to be a tit-for-tat raid
carefully orchestrated not to be too provocative or upset Arab
allies, Western diplomats in the region said.
U.S. Defence Secretary Caspar Weinberger said Monday that
U.S. Warships destroyed the oil platform in the southern Gulf
in response to a missile strike on the American-registered
Kuwaiti tanker Sea Isle City in Kuwaiti waters on Friday.
"We consider the matter closed," he said, a signal the U.S.
administration did not want the Gulf crisis to escalate.
Iran had warned the United States earlier in the day
against exacerbating the Gulf crisis, saying military action
would endanger American interests.
Following the raid, a okesman for Tehran's War
Information Headquarters vowed to avenge the attack with a
"crushing blow."
"The United States has entered a swamp from which it can in
no way get out safely," Tehran Radio quoted him as saying.
Diplomats noted, however, Iran was also seeking to avoid
ostracism by Arab states due to meet at a summit in Amman on
November 8 and discuss the Iran-Iraq war.
Iranian Prime Minister Mir-Hossein Mousavi is currently in
Damascus, and diplomats said he would seek Syrian help in
preventing a total Arab breach with Tehran.
Further escalation of the war threatening the Gulf Arab
states could work against Tehran at the Amman gathering, they
said.
"The ball is in Iran's court now. It's up to Tehran to
respond one way or the other," a diplomat said.
President Ronald Reagan warned Iran of stronger American
countermeasures if the military escalation continued.
Western diplomats and military sources in the area said
shelling the platform appeared to be the least provocative act
the United States could have taken once it had decided to
retaliate for the tanker attack, blamed by both the Americans
and Kuwaitis on Iran.
"It's interesting that they chose something in international
waters because it doesn't implicate any other nation," one
diplomat said. "This was better for U.S. Relations with the Gulf
Arab states, particularly Kuwait."
Commented another diplomat: "Kuwait must be happy that the
U.S. Has done something, but relieved that Faw was not attacked
on its doorstep."
One source said of the attack on the oil platform: "They
managed to warn off the crew and hit something that was the
least nuisance to everybody."
A diplomat commented: "They were very clever in the place
they chose. It gets attention, but it hasn't devastated
anything because it wasn't working in the first place."
A senior Arab banker in the area said after the news broke:
"This was a good, measured response without risking a flare-up
... It is a face-saving response (for the Americans)."
Reuter
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Brown Disc Products Co
Inc, a unit fo Genevar Enterprises Inc, said it has purchased
the ongoing business, trademarks and certain assets of
Rhone-Poulenc's Brown Disc Manufacturing unit, for undisclosed
terms.
Rhone-Poulenc is a French-based chemical company.
Under the agreement, Rhone-Poulenc will supply magnetic
tape and media products to Brown Disc Products.
Reuter
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Shr 43 cts vs 63 cts
Net 16,362,000 vs 24,325,000
Revs 589.3 mln vs 549.1 mln
Nine Mths
Shr 1.40 dlrs vs 1.73 dlrs
Net 54,011,000 66,591,000
Revs 1.68 1.58 billion
Reuter
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Military experts say the United States
faces a dilemma in the Gulf following U.S. destruction of an
Iranian oil platform in retaliation for an attack on a
U.S.-flagged tanker.
The experts told Reuters Tehran holds the initiative and is
likely to control the tempo and direction of the conflict as
long as America simply reacts to Iranian attacks by launching
limited retaliatory strikes.
But if Washington seizes the initiative with bolder steps
-- such as mining Iran's harbors, blockading its shipping, or
destroying key bases -- it could find itself in a major war.
"Iran is in the driver's seat in an absolute sense as the
cycle of attack and retaliation continues," said Fred Axelgard,
a Gulf War expert with the private Center for Strategic and
International Studies (CSIS).
"It's like a Greek tragedy," said retired Adm. Eugene Carroll
of Washington's private Center for Defense Information (CDI)
think tank.
Some Middle East experts say the only way out is for
Washington to join forces with Moscow in pressing for an end to
the war between Iran and Iraq.
They say it is not feasible for America to withdraw its
30-ship force from the Gulf area, where the Navy began
escorting U.S.-flagged Kuwaiti tankers in July. Withdrawal
would give the appearance of being chased away by Iran, which
President Reagan could never accept.
U.S. Defense Secretary Caspar Weinberger told a Pentagon
news conference the destroyers Kidd, Young, Leftwich and Hoel
fired about 1,000 rounds of five-inch shells at Iran's Rostam
oil rig 120 miles east of Bahrain beginning at about 1400 Gulf
time (0700 EDT) on Monday.
Weinberger said the platform had been used as a military
base by Iran and that the attack responded to an Iranian
Silkworm missile strike on the U.S.-flagged Kuwaiti tanker Sea
Isle City on Friday.
Iranians manning the platform were warned in advance and
allowed to escape.
"We do not seek further confrontation with Iran, but we will
be prepared to meet any escalation of military action by Iran
with stronger countermeasures," Weinberger said.
"We consider this matter closed," he said.
Analysts ranging from the liberal CDI to conservatives
agreed the U.S. reaction was measured, reasonable and did not
escalate the conflict unduly. But they said the question was
whether Iran would consider the matter closed. It had not taken
this view after earlier clashes.
Reuter
| [
0,
0,
1,
0,
0,
0,
0,
1,
0,
0
] |
Shr 96 cts vs 87 cts
Net 10.8 mln vs 9,671,000
Revs 103.9 mln vs 97.5 mln
Nine mths
Shr 2.73 dlrs vs 2.62 dlrs
Net 30.7 mln vs 29.3 mln
Revs 325.7 mln vs 302.8 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 64 cts vs 55 cts
Net 14.0 mln vs 11.8 mln
Nine mths
Shr 1.83 dlrs vs 1.53 dlrs
Net 39.7 mln vs 32.7 mln
Assets 4.65 billion vs 4.53 billion
Loans 3.24 billion vs 2.92 billion
Deposits 3.32 billion vs 3.15 billion
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 30 cts vs 30 cts
Net 1,804,000 vs 1,800,000
Nine mths
Shr 89 cts vs 79 cts
Net 5,334,00 vs 4,496,000
NOTE: Earnings per share reflect initial public offering of
534,750 common shares in March 1986 and 2-for-1 stock splits in
January and June 1986.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Norwegian state oil company Den Norske
Stats Oljeselskap (Statoil) signed contracts worth a total of
1.5 billion Norwegian crowns in connection with the development
of the Veslefrikk oil field, Statoil said.
Moss Rosenberg Verft of Stavanger has been awarded a
contract to convert the the drilling platform West Vision to a
floating production platform. The work is to be completed in
the summer of 1989.
Aker Verdal has been awarded a contract for the
engineering, purchasing and construction of the steel jacket
for the wellhead platform, also to be completed in 1989,
Statoil said.
Reuter
| [
0,
0,
1,
0,
0,
0,
0,
0,
0,
0
] |
The British Treasury confirmed that the
sale of British Petroleum Co Plc will go ahead as planned,
despite Monday's stock market crash which forced BP below the
330p a share set for the 7.2 billion stg issue.
"The government are not considering terminating the BP
offer. The offer has been fully underwritten," a Treasury
spokesman said.
The issue, which remains open until October 28, was fully
underwritten last week when the issue price was set.
BP shares closed down 33p at 317p as the FT-SE 100 share
index crashed a record 249.6 points, more than 10 pct.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Shr 30 cts vs 26 cts
Net 2,534,000 vs 1,695,000
Revs 98.8 mln vs 67.1 mln
Avg shrs 8,447,000 vs 6,563,000
NOTE: full name of company is harman international
industries inc.
Reuter
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0,
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0,
1,
0,
0,
0,
0,
0,
0
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Finance ministers from major industrial
nations should hold a special meeting to deal with the U.S.
Dollar's sharp decline, Helmut Geiger, president of the West
German savings bank association, said.
Geiger told Reuters: "Finance ministers should meet soon to
take confidence-building measures to limit the damage caused by
the dollar's fall."
Separately, Geiger told Bild newspaper in an interview
released ahead of publication on Tuesday that the lower dollar,
which had been artificially talked down by U.S. officials,
would damage West German exports and cost jobs.
Reuter
| [
0,
0,
0,
0,
0,
0,
1,
0,
0,
0
] |
Shr 25 cts
Net 3,081,000 vs 2,063,000
Nine months
Shr 86 cts
Net 10.5 mln vs 6,966,000
Assets 1.43 billion vs 1.30 billion
Deposits 912.5 mln vs 875.8 mln
NOTE: Company converted to a stock savings bank on Aug 13,
1986.
1986 results include operations of Realtech Realtors, which
was acquired in 1986.
1987 results include operations of Burgdorff Realtors,
acquired in December 1986; Cornerstone Mortgage Co, acquired in
July 1987; Centerbank Mortgage Co, acquired in July 1987; and
Center Capital Corp, formed in August 1987.
Reuter
| [
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0,
1,
0,
0,
0,
0,
0,
0
] |
CalMat Co said it filed suit in Los
Angeles Superior Court against Industrial Equity (Pacific) Ltd,
against certain of its affiliates and against Ronald Langley,
president of Industrial Equity's North American operations.
The company said its sut charges that Langley
missapropriated material non-public information acquired in his
capacity as a CalMat director and used the information for the
benefit of Industrial Equity.
According to its more recent amendment to its Schedule 13D,
Industrial Equity owned about 19.17 pct of CalMat's stock at
October 14, CalMat said.
It said Industrial has also stated that it intends to
pursue a possible business combination in the near future.
Reuter
| [
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0,
0,
0,
0,
0,
0,
0,
0
] |
President Reagan said the Commerce
Department should be vigilant in preventing the flow of
strategic technology from reaching the the Soviet Union and
other communist countries.
He was speaking at the swearing in of C. William Verity as
Secretary of the Commerce Department.
Verity said the U.S. should make certain that militarily
sensitive high technology does not wind up in communist
nations. But he also said the U.S. must reduce the list of
products of a nontechnological nature, thereby allowing
manufacturers to increase exports and jobs.
Reuter
| [
0,
0,
0,
0,
0,
0,
0,
0,
1,
0
] |
Shr 36 cts vs 27 cts
Net 4,538,000 vs 3,160,000
Sales 41.8 mln vs 32.8 mln
Avg shrs 12.6 mln vs 11.9 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Oper shr profit 13 cts vs nil
Oper net profit 612,806 vs profit 2,363
Sales 8,317,933 vs 2,823,243
Nine mths
Oper shr profit 32 cts vs loss four cts
Oper net profit 1,464,338 vs loss 161,315
Sales 20.3 mln vs 8,241,463
NOTE: 1987 earnings exclude gains from utilization of tax
loss carryforwards of 321,980 dlrs, or seven cts a share in the
quarter and 772,285 dlrs, or 17 cts a share for the nine months
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 1.32 dlrs vs 1.59 dlrs
Net 1,217,649 vs 1,471,824
Total income 1,896,018 vs 2,278,642
Nine mths
Shr 4.92 dlrs vs 5.38 dlrs
Net 4,553,380 vs 4,979,626
Total income 6,918,266 vs 8,134,313
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 44 cts vs 30 cts
Net 4,057,000 vs 2,716,000
Sales 49.5 mln vs 29.6 mln
Six Mths
Shr six cts vs 55 cts
Net 518,000 vs 5,167,000
Sales 89.7 mln vs 54.9 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr five cts vs seven cts
Net 64,652 vs 96,157
Sales 1,205,321 vs 1,499,591
NOTE: Backlog three mln dlrs vs 2,600,000 as of June 30,
1987.
Reuter
| [
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0,
0,
0,
0,
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0
] |
Durakon Industries Inc said it has
entered into a definitive agreement to acquire DFM Corp, a
maker of bug and gravel protective shields for trucks and cars,
for an undisclosed amount of cash and debentures, retroactive
to September One.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Atlantis Group Inc said it bought
100,000 shares of Charter-Crellin Inc common stock, or 6.3 pct
of the total outstanding, and may seek control in a negotiated
transaction.
In a filing with the Securities and Exchange Commission,
Atlantis said it has informally discussed a business
combination with Charter-Crellin management.
But the company said it has not held negotiations with
Charter-Crellin and does not intend to initiate further
discussions.
Pending development of specific proposals, Atlantis said it
will continue to purchase additional Charter-Crellin shares in
private or open market transactions depending on a range of
factors including the market price of the stock.
Atlantis said it bought its Charter-Crellin common stock in
open market transactions between September 22 and October 7 at
14.91 dlrs to 15.62 dlrs a share, or for a total of about 1.51
mln dlrs.
Reuter
| [
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] |
Allwaste Inc said it has agreed in
principle to acquire a privately-held firm that performs
interior cleaning services for tank-trailers for 1,300,000
common shares.
It said the firm, which it did not name, earned about
1,500,000 dlrs pretax for the first nine mons of 1987.
The company said closing is expected by October 31.
Reuter
| [
1,
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0,
0,
0,
0,
0,
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] |
Shr 18 cts vs 27 cts
Net 444,387 vs 676,593
Revs 549,437 vs 764,901
Nine mths
Shr 67 cts vs 81 cts
Net 1,690,670 vs 2,031,937
Revs 1,986,938 vs 2,302,278
NOTE: Full name is Travelers Real Estate Investment Trust
Reuter
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0,
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0,
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0,
0,
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0,
0
] |
Shr 40 cts vs 33 cts
Net 32.6 mln vs 26.7 mln
Revs 406.5 mln vs 370.1 mln
Nine months
Shr 1.44 dlrs vs 1.20 dls
Net 117.8 mln vs 97.5 mln
Revs 1.2 billion vs 1.1 billion
Reuter
| [
0,
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0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 11 cts vs five cts
Net 806,000 vs 384,000
Revs 18.0 mln vs 15.6 mln
Nine Mths
Shr 28 cts vs 17 cts
Net 2,105,000 vs 1,320,000
Revs 51.9 mln vs 46.1 mln
Note: Full name Safeguard Health Enterprises Inc.
Reuter
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0,
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0,
0
] |
Henley Group Inc said it ended
talks with Sante Fe Southern Pacific Corp concerning the
possible acquisition of Sante Fe's Southern Pacific
Transportation Co subsidiary.
The company also said it is reviewing its investment in
Santa Fe Southern Pacific in light of Sante Fe's announcement
that it recieved several bids ranging from 750 mln dlrs to more
than one billion dlrs for its Southern Pafific Transportation
subsidiary.
Henley said it held discussions with Sante Fe concerning
the acquisition by Henley of Bankers Leasing and Financial Corp
and certain Sante Fe transportation and real estate assets.
Henley said it began talks with Sante Fe after it announced
its restructuring program in August 1987.
As previously disclosed, Henley made necessary filings
under the Hart-Scott-Rodino Antitrust Improvement Acts to
permit Henley to increase its investment in Sante Fe to 24.9
pct of the outstanding common stock from 5.03 pct.
Henley said that depending on prevailing conditions,
including price and availability of Sante Fe stock, substantial
developments affecting Sante Fe, other investment and business
opportunities available to Henley, Henley may additional Sante
Fe shares, or sell all or part of its investment in Sante Fe.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Shr loss 39 cts vs profit 44 cts
Net loss 2,169,000 vs profit 2,417,000
Nine Mths
Shr profit 56 cts vs profit 1.68 dlrs
Net profit 3,111,000 vs profit 9,317,000
Note: Full name Mercury Savings and Loan Association
'
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 45 cts vs 36 cts
Net 2,554,000 vs 1,954,000
Revs 44.4 mln vs 32.5 mln
Nine mths
Shr 1.00 dlrs vs 75 cts
Net 5,461,000 vs 3,756,000
Revs 109.5 mln vs 89.9 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Texas American Bancshares Inc
said it agreed to sell its Texas American Bank/Levelland unit
to <First American Bancorp Inc> for about 12 mln dlrs in cash.
Texas American said regulatory approval ofthe transaction
is expected in December, and the sale will close shortly
thereafter.
Once the sale is completed, the unit's name will change to
First American Bank of Texas. The unit reported total assets of
196.7 mln dlrs on Juen 30, 1987.
Reuter
| [
1,
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0,
0,
0,
0,
0,
0,
0,
0
] |
Supermarkets General Corp said it
agreed to sell 11 super drug stores to <F and M Distributors>.
The nine existing and two unopened stores are located in
Maryland, Virginia and upstate New York and are operated under
the Pathmark Super Drug trade name, the company said.
Terms of the transaction were not disclosed.
The nine existing stores generated approximately 34.8 mln
dlrs of Supermarkets General's total sales of 2.9 billion
during the six-month period ended Aug One, 1987.
F and M Distributors operates 42 discount drug stores in
Michigan, Ohio, Illinois, Indiana and Wisconsin.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Shr 31 cts vs nine cts
Net 1,345,000 vs 368,000
Revs 31.9 mln vs 26.4 mln
Nine mths
Shr 91 cts vs 40 cts
Net 3,890,000 vs 3,556,000
Revs 89.3 mln vs 71.7 mln
NOTE: 1986 qtr and nine mths include loss 831,000 dlrs, or
19 cts per share, and loss 1,872,000 dlrs, or 44 cts per share,
respectively, from discontinued operations.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 44 cts vs 71 cts
Net 14.8 mln vs 21.1 mln
Revs 628.6 mln vs 605.6 mln
Avg shrs 30,743,000 vs 26,969,000
Nine mths
Shr 2.01 dlrs vs 1.93 dlrs
Net 65.0 mln vs 57.4 mln
Revs 1.89 billion vs 1.81 billion
Avg shrs 30,782,000 vs 26,619,000
Reuter
| [
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0,
0,
1,
0,
0,
0,
0,
0,
0
] |

VENEZUELA SAYS OPEC OIL OUTPUT 0VER 18 MLN BPD CARACAS, Oct 19
- The current OPEC oil production is above 18 mln barrels per
day (bpd) and this level threatens the precarious equilibrium
of the of oil market, Venezuelan Energy and Mines Minister
Arturo Hernandez Grisanti said on Monday.
He told reporters three or four countries out of OPEC's 13
members were mainly responsible for the overproduction, but
declined to identify them.
OPEC's production ceiling for the second half of 1987 is
16.6 mln bpd. The Venezuelan minister said OPEC's production
reached a peak this year when it went over 19 mln bpd in
August.
Hernandez Grisanti, together with the oil ministers of
Nigeria and Indonesia, met the heads of state of six Mideast
Gulf countries earlier this month to urge OPEC members to
comply with assigned production quotas.
He said some of the countries which were complying as
Venezuela, Indonesia, Libya, Algeria, Ecuador, Saudi Arabia and
Iran.
Hernandez declined to say whether the three or four
countries he said were overproducing bordered the Mideast Gulf.
REUTER

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|
Dynascan Corp said it completed the sale
of its industrial electronic products group and expects to
recognize about a 3.0 mln dlr pretax gain on the transaction in
the fourth quarter.
It said the group was sold October 15 for 13.5 mln dlrs to
Maxtec International Corp, a privately held company created by
the company's management team.
It said the purchase price was 12 mln dlrs in cash and 1.5
mln dlrs in five-year notes plus warrants to buy 7.0 pct of the
stock of Maxtec.
Dynascan said the group was projected to provide about 12
pct of its consolidated sales in 1987.
Reuter
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|
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] |
|
Spanish property firm <Renta Inmobiliaria
SA> is negotiating to buy the property assets of U.S. media
company Cannon Group Inc <CAN>, Renta's finance director Jose
Luis Sanchez said.
Sanchez told Reuters that Renta's chairman Juan Antonio
Robles was currently in the U.S. to negotiate the deal but
declined to give other details.
Interpart, a Luxembourg-based holding company chaired by
Italian financier Giancarlo Paretti, payed around 12.2 billion
pesetas in July to acquire a 63.5 pct stake in Renta
Inmobiliaria.
The Spanish daily newspaper El Pais said the Cannon
property assets sought by Renta included the Elstree film
studios in Britain and a chain of movie-theaters in Europe and
the U.S.
Reuter
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0,
0,
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0,
0,
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0,
0
] |
Citgo Petroleum Corp, a subsidiary of
Southland Corp, said it raised the contract price it will pay
for all grades of crude oil by 50 cts a barrel, effective Oct
16
The increase brings Citgo's postings for the West Texas
Intermediate and West Texas Sour grades to 19.00 dlrs/barrel,
while Light Louisiana SWeet is now priced at 19.35 dlrs.
Citgo last changed it crude oil postings on Sept 9.
Reuter
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A shareholder group including Far
Hills, N.J. attorney Natalie Koether said it reduced its stake
in CCX Inc common stock to 10,000 shares, or less than one pct
of the company's common stock outstanding, from a previous
stake of about ten pct.
In a filing with the Securities and Exchange Commission,
the group said it sold 380,000 CCX common shares on October 15
at four dlrs a share.
The group gave no reason for the sales.
Reuter
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] |
Orion Capital Corp said it acquired
163,000 shares of Twin Disc Inc common stock, or 5.2 pct of the
company's common stock outstanding.
In a filing with the Securities and Exchange Commission,
Orion Capital said the stock represents "a favorable investment
opportunity at current market prices."
In open market transactions between August 21 and October
16, an Orion Capital subsidiary bought 56,200 Twin Disc common
shares at 21.06 dlrs to 22.43 dlrs a share. The entire 5.2 pct
stake was purchased at a cost of 3.2 mln dlrs, Orion Capital
told the SEC.
Reuter
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Venezuelan Energy Minister Arturo
Hernandez Grisanti said he foresaw market stability in the
price of crude, despite growing tension in the Gulf augmented
by the U.S. military attack on an Iranian oil platform.
He told a news conference the market continues to be stable
despite all the military action in the Gulf.
Reuter
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Net 13,185,000 vs 6,715,000
Nine mths
Net 26.2 mln vs 15.3 mln
NOTE: Company is owned by a consortium of European banks.
Reuter
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Northeast Savings F.A. said its
board adopted a shareholder rights plan designed to protect the
company from coercive takeover tactics and bids not fair to all
sharholders.
Under the plan, the board declared a dividend of one share
purchase right for each of the Northeast common shares held of
record as of November two, the company said.
Initially, the rights are not exerciseable, rights
certificates are not distributed, and the rights automatically
trade with Northeast's shares, the company said.
However, 20 days following the acquisition of 20 pct or
more of Northeast's common shares shares or 20 days following
the commencement of a tender offer for 30 pct or more of
Northeast's shares, the rights will become exerciseable and
separate rights certificates will be distributed, the company
said.
The rights will entitle holders of Northeast's common
shares to purchase additional shares at an exercise price of 60
dlrs a share, the company said.
The company said that in the event of certain triggering
events described in the rights plan, holders of the rights,
other than an acquiring person, will be entitled to acquire
Northeast's common shares having a market value of twice the
then-current exercise price of the rights. Also, in the event
Northeast enters into certain business combination
transactions, holders of the rights will be provided a right to
acquire equity securities of the acquiring entity having a
market value of twice the then-current exercise price of the
rights, the company said. Northeast said it will be entitled to
redeem the rights at one cent per right until the occurence of
certain events.
Reuter
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] |
Shr 17 cts vs 13 cts
Net 2.1 mln vs 1.03 mln
Revs 15.6 mln vs 12 mln
Nine mths
Shr 58 cts vs 37 cts
Net 6.9 mln vs 3.7 mln
Revs 56.2 mln vs 27.5 mln
Avg shrs 11.9 mln vs 10.0 mln
Reuter
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NATIONAL GUARDIAN <NATG.O> ACQUIRES ALARM FIRM
GREENWICH, Conn., National Guardian Corp said it acquired
Pacific Fire Extinguisher Co, which specializes in installation
of fire and burglar alarms.
The operations acquired in the transaction have total
revenues in excess of 2.3 mln dlrs, the company said.
In a separate announcement, the company said it expects to
record revenues of approximately 150 mln dlrs for 1987.
For 1986, the company had revenues of 98.3 mln dlrs.
National Guardian's revenues for the first six months of
1987 were approximately 72 mln dlrs, compared to about 42 mln
dlrs the year-ago period.
Reuter

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CCR Video Corp said it has received
an offer to enter into negotiations for <Intercep Investment
Corp> to acquire a controlling interest through a tender offer.
The company said "The negotiations would determine the
terms under which the CCR board of directors could support the
INTERCEP tender offer."
It gave no further details.
Reuter
| [
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Shr primary 1.15 dlrs vs 76 cts
Shr fully diluted 1.15 dlrs vs 76 cts
Net 40.8 mln vs 27.1 mln
Revs 369.6 mln vs 263.2 mln
Nine mths
Shr primary 2.95 dlrs vs 3.44 dlrs
Shr fully diluted 2.95 dlrs vs 3.33 dlrs
Net 103.8 mln vs 119.0 mln
Revs 1.06 billion vs 897.8 mln
Reuter
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0,
1,
0,
0,
0,
0,
0,
0
] |
<Willis Faber Plc> said its 20.8 pct
holding in stockbrokers Morgan Grenfell Group Plc <MGFL.L> was
not up for sale.
The insurance broker issued a statement in reply to recent
press speculation which it said was in part "inaccurate and
undesirable."
"Willis Faber has not received any offers for its stake in
Morgan Grenfell," it said, adding that an offer would have to be
considered on its merits.
"Willis Faber's stake in Morgan Grenfell has been a very
successful investment," it said.
Reuter
| [
1,
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] |
Shr 22 cts vs 57 cts
Net 504,808 vs 1,281,781
Revs 633,119 vs 1,396,703
Nine mths
Shr 87 cts vs 1.32 dlrs
Net 1,959,385 vs 2,986,379
Revs 2,342,322 vs 3,346,555
NOTE: Full name of trust is Travelers Realty Income
Investors
Reuter
| [
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0,
1,
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0,
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Shr 75 cts vs 55 cts
Net 8,031,000 vs 5,819,000
Nine mths
Shr 2.16 dlrs vs 1.42 dlrs
Net 23.2 mln vs 15.1 mln
Assets 3.41 billion vs 2.84 billion
Deposits 2.54 billion vs 2.19 billion
NOTE: 1987 nine mths includes gain 1,008,000 dlrs, or nine
cts per share, from utilization of prior year's net operating
loss carryforwards.
NOTE: 1986 qtr and nine mths include loss 131,000 dlrs, or
one cent per share, from unspecified extraordinary item.
1986 qtr and nine mths includes gain 2,281,000 dlrs, or 22
cts per share, and 6,393,000 dlrs, or 60 cts per share,
respectively, from utilization of net operating loss
carryforwards.
full name of company is society for savings bancorp inc.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 88 cts vs 73 cts
Net 2,580,000 vs 2,147,000
Nine mths
Shr 2.48 dlrs vs 2.33 dlrs
Net 7,266,000 vs 5,948,000
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr loss 12 cts vs profit two cts
Net loss 2,669,000 vs profit 528,000
Revs 79.8 mln vs 74.9 mln
Nine mths
Shr profit 64 cts vs profit 1.63 dlrs
Net profit 14.3 mln vs profit 35.7 mln
Revs 280.0 mln vs 288.8 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 87 cts vs 84 cts
Net 418.6 mln vs 399.2 mln
Revs 3.12 billion vs 2.89 billion
Nine mths
Shr 2.61 dlrs vs 2.62 dlrs
Net 1.25 billion vs 1.23 billion
Revs 9.10 billion vs 8.62 billion
Avg shrs 481.4 mln vs 473.6 mln
NOTE: Share adjusted for three-for-two stock split in
February 1987.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr profit 55 cts vs loss 12 cts
Net profit 3,998,000 vs loss 915,000
Sales 93.8 mln vs 80.9 mln
Nine mths
Shr profit 1.71 dlrs vs profit 95 cts
Net profit 12,641,000 vs profit 7,282,000
Sales 260.9 mln vs 249 mln
Note: 1986 figures include a five mln dlr or 65 cts a share
charge for electronics restructuring and 1.7 mln dlr charge
from early retirement of 12 mln dlrs in long-term notes
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 2.17 dlrs vs 1.42 dlrs
Net 24,907,000 vs 16,117,000
Nine mths
Shr 4.05 dlrs vs 3.75 dlrs
Net 47,105,000 vs 42,874,000
Assets 9.66 billion vs 9.25 billion
Deposits 8.06 billion vs 7.80 billion
Loans 842.5 mln vs 711.1 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 84 cts vs 86 cts
Net 3,893,000 vs 4,054,000
Revs 21.0 mln vs 21.2 mln
Nine Mths
Shr 1.88 dlrs vs 1.87 dlrs
Net 8,707,000 vs 8,848,000
Revs 57.9 mln vs 59.1 mln
NOTE: 1986 per share adjusted for three for two stock split
effective June 1, 1987.
St. Joseph Light and Power Co is full name of company.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 1.04 dlrs vs 67 cts
Shr diluted 1.01 dlrs vs 66 cts
Net 63.2 mln vs 40.5 mln
Sales 1.70 billion vs 1.43 billion
Nine mths
Shr 2.91 dlrs vs 2.88 dlrs
Shr diluted 2.85 dlrs vs 2.82 dlrs
Net 176.5 mln vs 172.7 mln
Sales 5.08 billion vs 4.49 billion
Avg shrs 60.3 mln vs 59.6 mln
Avg shrs diluted 62.0 mln vs 61.3 mln
Reuter
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French Finance Minister Edouard Balladur
said the Group of Seven (G-7) industrial countries should
respect pledges on monetary policy made in the February Louvre
accord on currency stability.
"We have to strengthen the cooperation between the seven
major industrial countries and remind ourselves of the pledges
we made at the Louvre," he told journalists.
"They were not simply pledges to maintain currency
stability, but also to conduct a certain type of economic and
monetary policy," he added.
Reuter
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Recent announcements from Moscow of
next year's grain production targets indicate that the Soviets
are estimating this year's grain crop at 205 to 213 mln tonnes,
Agriculture Department analysts said.
USDA is projecting the Soviet crop at 210 mln tonnes, but
some earlier estimates from Soviet officials were that the 1987
grain crop could match the 1978 record of 237 mln tonnes.
Moscow outlined its economic targets for 1988 on Monday,
putting the grain harvest goal at 235 mln tonnes. An analyst of
Soviet agriculture at USDA noted that a recent article in
Izvestia said Soviet grain production in 1988 is planned to be
"25 to 30 mln tonnes more than expected this year."
"This indicates that their own estimate is for a 205 to 213
mln tonne (grain) crop," the analyst said.
In calculating Moscow's crop estimate, USDA used the 235
mln tonne production goal, as well as a 238 mln tonne figure
published in a Soviet economic journal this month.
USDA's production estimate of 210 mln tonnes reflects a
range of 207 to 212 mln tonnes, a USDA source said.
Late season rains damaged Soviet crops, slowed harvest
progress and lowered Soviet production, analysts said.
While in the U.S. earlier this month, Soviet agriculture
official Viktor Nikonov predicted that the grain crop would be
as good or better than last year's 210 mln tonne harvest.
A member of Nikonov's party commented that although 230 mln
tonnes of grain were in the fields, harvest problems would
bring the final crop down to around 210 mln tonnes.
Reuter
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|
Federal Reserve Board Vice Chairman
Manuel Johnson said the Louvre Accord is still healthy, but
said the United States and West Germany must work out
differences over their respective roles in fulfilling the
accord.
"The Louvre Accord has worked very well in terms of
stabilizing exchange rates," he said in response to a question
during an American Stock Exchange conference here.
He said exchange rates have been stable so far in 1987 as a
result of the accord.
Reuter
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Subsets and Splits