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FRANKLIN OHIO INSURED TAX-FREE SETS PAYOUT

Mthly div 6.1 cts vs 6.1 cts prior Pay March 31 Record March 16 NOTE: Franklin Ohio Insured Tax-Free Income Fund. Reuter 

FRANKLIN HIGH-YIELD TAX-FREE SETS PAYOUT

Mthly div 7.1 cts vs 7.1 cts prior Pay March 31 Record March 16 NOTE: Franklin High-Yield Insured Tax-Free Income Fund. Reuter 

CONVERGENT TECHNOLOGIES <CVGT> TO BUY OAKLEAF

Convergent Technologies Inc said it has reached an agreement in principle to buy Oakleaf Corp, which supplies finance, insurance and leasing computers to auto dealers. The transaction will involve an exchange of Oakleaf stock for cash and debt and is subject to a definitive agreement, the companys said. No other terms were disclosed. Oakleaf had 1986 sales of about 26 mln dlrs. Reuter 

NYMEX WILL EXPAND OFF-HOUR TRADING APRIL ONE

The New York Mercantile Exchange set April one for the debut of a new procedure in the energy complex that will increase the use of energy futures worldwide. On April one, NYMEX will allow oil traders that do not hold a futures position to initiate, after the exchange closes, a transaction that can subsequently be hedged in the futures market, according to an exchange spokeswoman. "This will change the way oil is transacted in the real world," said said Thomas McKiernan, McKiernan and Co chairman. Foreign traders will be able to hedge trades against NYMEX prices before the exchange opens and negotiate prices at a differential to NYMEX prices, McKiernan explained. The expanded program "will serve the industry because the oil market does not close when NYMEX does," said Frank Capozza, secretary of Century Resources Inc. The rule change, which has already taken effect for platinum futures on NYMEX, is expected to increase the open interest and liquidity in U.S. energy futures, according to traders and analysts. Currently, at least one trader in this transaction, called an exchange for physical or EFP, must hold a futures position before entering into the transaction. Under the new arrangement, neither party has to hold a futures position before entering into an EFP and one or both parties can offset their cash transaction with a futures contract the next day, according to exchange officials. When NYMEX announced its proposed rule change in December, NYMEX President Rosemary McFadden, said, "Expansion of the EFP provision will add to globalization of the energy markets by providing for, in effect, 24-hour trading." The Commodity Futures Trading Commission approved the rule change in February, according to a CFTC spokeswoman. Reuter 

CCR VIDEO <CCCR> NOW MEETS NASDAQ REQUIREMENTS

CCR Video Corp said it is now current in its filing requirements with both the Securities and Exchange Commission and NASDAQ, and meets the trading system's net worth requirements. The company reported a first quarter, ended November 30, profit of 156,726 dlrs compared to a year earlier loss of 776,000 dlrs. CCR also said its previously reported refinanceing in December resulted in an extraordinary gain of 456,004 dlrs, leaving the company with a net worth of 633,581 dlrs at the end of December. At the end of November, a spokesman noted, CCR did not meet NASDAQ's requirement of a net worth of 100,000 dlrs and has been trading on an exception to those rules. Reuter 

ROSPATCH <RPCH> TO RESPOND TO DIAGNOSTIC <DRS>

Rospatch Corp said it will have a news release later in response to today's acquisition bid by Diagnostic Retrieval Systems Inc for 22 dlrs a share. Rospatch earlier requested its stock be halted in over the counter trading, last trade 24-1/8. Diagnostic said its bid was for a total 53 mln dlrs through a cash tender offer for all, but not less than 51 pct of Rosptach outstanding common. For its fourth-quarter ended December 31, 1986, Rospatch reported net loss 2,649,000 or 1.10 dlrs a share compared a loss of 627,500 or 35 cts profit for the 1985 period. In December the Brookehill Group in New York said it had 9.7 pct stake. J.A. Parini, Rospatch chief executive, responded on January eight by saying the investment was a vote in confidence in the company. Reuter 

GREEN TREE ACCEPTANCE INC <GNT> SETS DIVIDEND

Qtly dividend 12-1/2 cts vs 12-1/2 cts Pay March 31 Record March 16 Reuter 

ARGENTINE OIL PRODUCTION DOWN IN JANUARY 1987

Argentine crude oil production was down 10.8 pct in January 1987 to 12.32 mln barrels, from 13.81 mln barrels in January 1986, Yacimientos Petroliferos Fiscales said. January 1987 natural gas output totalled 1.15 billion cubic metrers, 3.6 pct higher than 1.11 billion cubic metres produced in January 1986, Yacimientos Petroliferos Fiscales added. Reuter 

ROSPATCH CORP REJECTS OFFER FROM DIAGNOSTIC RETRIEVAL SYSTEMS INC

HUGHES' U.S. RIG COUNT SLIPS TO 801 THIS WEEK

U.S. drilling activity continued to slow last week as the number of active rotary rigs fell by 38 to a total of 801, against 1,248 working rigs one year ago, Hughes Tool Co said. Most of the decrease came among rigs used for onshore drilling, which dropped to a total of 707 from last week's 744. A total of 77 rigs were active offshore and 17 in inland waters during the week, Hughes Tool said. Among individual states, Texas lost 24 working rigs, Michigan dropped by six, and California, New mexico and Kansas were each down by one. Colorado reported a gain of eight rigs and Louisiana was up by four. In Canada, the rig count was up 14 to 164, against 422 one year ago. Reuter 

GULF OF MEXICO RIG COUNT FALLS THIS WEEK

Utilization of offshore mobile rigs in the Gulf of Mexico declined by 0.7 pct during the past week, to 35.6 pct, reflecting a decrease of two working rigs, Offshore Data Services said. The total number of working rigs fell to 83 for the week, compared to 85 last week and 134 rigs one year ago. Offshore Data Services said the worldwide utilization rate rose 0.1 pct to 54.2 pct with a total of 333 rigs without work. The number of rigs contracted worldwide was 394. In the European-Mediterranean area, rig utilization also rose by a full percentage point to 41.3 pct with 64 of 155 rigs contracted. Reuter 

NORTH AMERICAN GROUP <NAMG> BUYS GEORGIA FIRM

North American Group Ltd's North American Acquisition Corp said it has a definitive agreement to buy 100 pct of Pioneer Business Group Inc of Atlanta. Terms of the acquisition were not disclosed. Closing of the acquisition is scheduled for April. North American Acquisition said the agreement is subject to due diligence and a satisfactory review of Pioneer's operation. Pioneer makes business forms. Reuter 

CANADA PLANS 4-PART 1.2 BILLION DLR BOND ISSUE TUESDAY - OFFICIAL

TALKING POINT/VIACOM INTERNATIONAL <VIA>

A bidding war for Viacom International Inc, one of the largest U.S. entertainment companies, pitted a management group and other investors against National Amusements Inc, a closely held theater operator. Both sides raised their bids over the weekend. A source close to the management side insisted that timing was on his side. He said if outside directors approve the management proposal, a merger plan could be put to a vote of shareholders with proxy material going out late this week. "It would take 20 days from the day we mail," said the source. The source predicted National Amusements, controlled by investor Sumner Redstone, would need "half a year" to complete a tender offer because of the regulatory approvals that must accompany any change in control of Viacom's broadcast licenses and cable television franchises. Redstone was not available for comment. Some of Wall Street's arbitrage players said it was a rare situation that could only be enjoyed - a true bidding war. One said Redstone could begin a tender offer whenever he wanted and if enough people were convinced his proposal was superior to the Viacom management plan, he would have a chance to win. The independent directors of Viacom were called into a meeting today. Word on a decision was expected early tomorrow. Viacom shares climbed 2-1/2 to 50-3/8 by midafternoon. One major Wall Street firm issued a sell recommendation. "We think we're at the end now, in terms of bidding," said the firm's arbitrageur, who spoke on condition he not be identified. Both Redstone's proposal and the management proposal would create a restructured company heavily leveraged with debt. The management plan would result in a balance sheet with about 2.5 billion dlrs in debt and nearly 500 mln dlrs in preferred stock, convertible into 45 pct of the common stock. Redstone's newest proposal offers holders 42 dlrs in cash, a fraction of a share of exchangeable preferred stock with a value of 7.50 dlrs, and one-fifth of a share of common stock stock of Arsenal Holdings, representing 20 pct of the equity interest in the restructured Viacom. One arbitrageur calculated the equity in the Redstone plan was worth 2.50 dlrs making the total package worth 52 dlrs per share. Management offered 38.50 dlrs in cash, exchangeable preferred stock worth 8.50 dlrs and a fractional share of convertible preferred. The arbitrageur said the equity portion was worth about 4.00 dlrs for a total of 51 dlrs. Redstone's newest plan raised the amount of interest he would pay on the cash portion of his offer for every day beyond April 30 that a merger with Arsenal is not consummated. The plan calls for intest to be paid at an annual rate of nine pct during May and 12 pct thereafter. Previously Redstone offered eight pct interest. Other arbitrageurs said both Redstone and the management group, led by president and chief executive Terrence Elkes, were offering high prices. "Redstone really wants to own the company," one said. Another said management seemed to have the edge on the timing issue. Redstone's company owns 19.6 pct ov Viacom's 35 mln shares. A Wall Street analyst said it was hard to determine what the equity in the newly leveraged company would be worth. He noted as an example that new stock in FMC Corp <FMC>, which adopted a highly leveraged structure last year, inititally traded at 12.50 dlrs per share, dipped to nine dlrs, and is now just over 30 dlrs. Last week, Viacom reported fourth quarter earnings fell two two cts per share from 23 cts. The company said interest costs from several acquisitions affected results. Shares of Warner Communications Inc <WCI> rose 7/8 to 31-1/8. Analysts noted Warner owns warrants to purchase 3.25 mln Viacom shares at 35 dlrs and another 1.25 mln shares at 37.50 dlrs. Chris Craft Industries <CCN>, which owns a stake in Warner, rose 1-1/4 to 22-3/4. Viacom was created in 1970 and spun off from CBS Inc <CBS>. The company has 940,000 cable television subscribers, operates nine satellite television services and owns television and radio stations. It is one of the largest distributors of films and other programs for television. Reuter 

UP-RIGHT INC <UPRI> 4TH QTR OPER NET

Oper shr five cts vs 29 cts Oper net 151,000 vs 867,000 Revs 12.7 mln vs 14.1 mln Year Oper shr 87 cts vs 52 cts Oper net 2,650,000 vs 1,565,000 Revs 54.7 mln vs 49.1 mln Note: oper data does not include 4th qtr 1986 extraordinary credit of 14,000 dlrs or 4th qtr 1985 extraordinary loss of 139,000 dlrs, or five cts per shr. For year, does not include extraordinary credit of 92,000 dlrs, or three cts per shr, in 1986 and 161,000 dlrs, or five cts per shr, in 1985. Reuter 

CANADA LAUNCHES 1.2 BILLION DLR BOND ISSUE

Canada will offer a 1.2 billion dlr, four-part bond issue tomorrow, which will be dated March 15 and delivered March 16, the finance department said. The issue will consist of four maturities: - 8 pct bonds due July 1, 1990, - 8-1/4 pct bonds due March 1, 1994, - 8-1/4 pct bonds due March 1, 1997, - 8-1/2 pct bonds due June 1, 2011. The 2011 maturity will be issued to a maximum of 374 mln dlrs. The Bank of Canada will buy 100 mln dlrs of the new issue, including 10 mln dlrs of the 2011 maturity. Reuter 

U.S. ELECTRONIC SALES FLAT IN 1986

U.S. electronic companies' sales last year totalled 226.5 billion dlrs, slightly below the 228.7 billion dlrs reported in 1985, the American Electronic Association said. Despite the decline, the fourth-quarter total of 61.1 billion dlrs matched the industry record for the same period of 1984, the AEA said. AEA senior vice president Ralph Thomson said that, although the 1986 sales trend was mostly positive with an upturn at the end of the year, the industry is waiting early 1987 figures before trying to forecast the future. "Many of our companies, including the semiconductor sector, are still being impacted by the enormous and growing trade deficit with Japan," he said. Fourth-quarter orders totalled 60 billion dlrs for a 3.1 pct increase over the same quarter of 1985. December sales were 22.2 billion dlrs, up 2.8 pct from the same month in 1985. The association represents more than 2,800 firms that produce electronic goods and services. Reuter 

TALKS SHOW NEW CANADIAN CONFIDENCE, GROUP SAYS

Canada's decision to raise the issue of a free trade pact with the U.S. was a sign of what many see as a new spirit of Canadian self-confidence, a public policy study group said "It suggests the Canada of the immediate post-war period, when it was a major player in the process of building a postwar world," the Washington-based Atlantic Council said. U.S. and Canadian negotiators opened talks last summer aimed at dismantling trade barriers between the two countries, the world's biggest trading partners with crossborder shipments of about 150 billion dlrs annually. The council's study said the trade talks, with a deadline of October for an agreement, are the biggest issue in U.S.-Canadian relations. The study said liberalized trade between the two countries would improve the competitiveness of their economies in world markets and lessen trade irritants which now mar their ties. The council said "in the past most Canadians have shied away from the notion of a free-trade arrangement, fearing to be overwhelmed economically and politically by a closer association with a country 10 times their size in population." But at the same time, it added, Canadians realized their domestic market was too small to permit the mass production and sales needed to raise productivity to the level demanded by an increasingly competitive world. The council said that in the talks, Canada is chiefly interested in minimizing the imposing of U.S. duties against allegedly subsidized exports. A recent example was the 15 per cent duty the U.S. imposed on Canadian lumber exports on grounds the shipments were being subsidized. The council said the chief U.S. concerns included ending curbs against U.S. banking, insurance, telecommunications, and the so-called "cultural industries" - publishing, broadcasting and films. It said other major U.S.-Canadian issues were defense cooperation, "acid rain" and the U.S. rejection of a Canadian assertion of sovereignty over waters of the Northwest Passage. Reuter 

U.S. ACTS TO PROTECT KAISER STEEL RETIREES

The Pension Benefit Guaranty Corp, a federal agency, said it took action to protect pensions of employees and retirees of Kaiser Steel Corp, which filed for bankruptcy reorganization last month. The agency said it entered into an agreement to terminate the Kaiser plan, and was appointed its trustee. It said that Kaiser retirees will receive their March pension checks without interruption and thereafter at levels guaranteed by law. REUTER 

<DAIWA SECURITIES CO> TO SUPPLY MARKET UPDATE

Daiwa Securities Co Ltd said it will provide Financial News Network <FNNI> with an exclusive daily market update from Tokyo. The report can be seen on FNN's World Business Update, the company said. Daiwa Securities said the new program describes major business developments around the world, using videotaped news and feature stories as well as market and commodities information. Viewers will be able to get closing prices in Tokyo prior to opening trading in New York due to the time difference. Reuter 

UAL <UAL> UNIT ATTACKED ON MINORITY HIRING

UAL Inc's United Airlines was accused in a congressional hearing today of locking blacks out of key jobs, but the company said it had made tremendous progress in minority hiring. The issue was aired during a hearing of a House Government Operations subcommittee whose chairman, Rep. Cardiss Collins, called the treatment of minorities by the country's largest airline "pathetic." "It strikes me odd," said the Illinois Democrat, "that the number of white women pilots is more than double that of black pilots, and that white women are more fairly represented in upper management." United has been under a court order since 1976 to increase its minority employment. David Pringle, United's senior vice president for human resources, said "We take a very aggressive approach to minority hiring and have made tremendous progress ... we will continue to pursue even wider goals." Reuter 

ALBERTSON'S INC <ABS> RAISES QTLY DIVIDEND

Shr 24 cts vs 21 cts Pay May 25 Record May eight Reuter 

CHEMICAL NEW YORK <CHL> TO CLOSE DUBAI OFFICE

Chemical Bank, the main subsidiary of Chemical New York Corp, is closing its representative office in Dubai, United Arab Emirates, a spokeswoman said in response to an enquiry. She said the decision to close the office was made as a result of changes in Chemical's regional customer base and to improve efficiency by centralizing the bank's Gulf activities in Bahrain. The Bahrain office will assume the local contact role for all of Chemical's corporate and institutional customers now served by the Dubai office, the spokeswoman added. Reuter 

WAVEHILL INTERNATIONAL TO MAKE ACQUISITION

<Wavehill International Ventures Inc> said it has agreed to acquire Personal Computer Rental Corp of Coral Gables, Fla., in a transaction in which shareholders of Personal Computer will receive shares respresenting about a 25 pct interest in the combined company. The company said it will have about two mln shares outstanding on a fully-diluted basis after the transaction. It said after the acquisition it will infuse Perconal computer with cash for expansion. It said Personal Computer now has 26 franchised locations and plans to add over 30 in 1987, seeking eventually to expand into 420 markets in the U.S. and abroad. Reuter 

SECURITY PACIFIC <SPC> COMPLETES MERGER

Security Pacific Corp said it completed its planned merger with Diablo Bank following the approval of the comptroller of the currency. Security Pacific announced its intention to merge with Diablo Bank, headquartered in Danville, Calif., in September 1986 as part of its plan to expand its retail network in Northern California. Diablo has a bank offices in Danville, San Ramon and Alamo, Calif., Security Pacific also said. Reuter 

PALL CORP <PLL> 2ND QTR SALES RISE 17 PCT

Pall Corp said sales in the second quarter rose about 17 pct to 94 mln dlrs from 80 mln dlrs a year ago, bringing sales for the six months to 174.6 mln dlrs, up 16 pct from 150.3 mln dlrs. Orders in the quarter ended Jan 31 rose about 15 pct to 101.1 mln dlrs and 13 pct to 189.6 mln dlrs in the six months. Reuter 

J.P. INDUSTRIES <JPI> FORMS TWO OPERATING GROUPS

J.P. Industries Inc said it has formed two operating groups to serve major markets in its transportation components business -- an Engine Products Group to serve original equipment manufacturers and an Automotive Aftermarket Group to serve repair market customers. The company said senior vice president Gareth L. Reed has been appointed president and general manager of the Engine Products Group. Gerald W. McGrath was appointed vice president and general manager of the Automotive Aftermarket Group. He was formerly vice president of sales with the Engine Parts Division of Clevite Industries Inc, recently acquired by J.P. Industries. Reuter 

U.S. INTEC INC <INTK> 4TH QTR NET

Shr six cts vs five cts Net 188,000 vs 130,000 Revs 12.2 mln vs 10.1 mln Avg shrs 3,029,930 vs 2,764,544 12 mths Shr 81 cts vs 1.45 dlrs Net 2,463,000 vs 3,718,000 Revs 52.4 mln vs 47.5 mln Avg shrs 3,029,930 vs 2,566,680 NOTE: net for 1985 includes 500,000, or 20 cts per share, for proceeds of a life insurance policy. includes tax benefit for prior qtr of approximately 150,000 of which 140,000 relates to a lower effective tax rate based on operating results for the year as a whole. Reuter 

LODGISTIX <LDGX> TO BUYBACK 100,000 SHARES

Lodgistix Inc said its board authorized a program for the company to purchase up to 100,000 of its shares from time to time. The company said the shares will be used for general purposes, including incentive programs. Reuter 

ICI <ICI> SEEKS GAINS IN SPECIALTY BUSINESSES

Imperial Chemical Industries PLC, the largest chemical company in the United Kingdom, will expand its specialty chemicals and drug businesses this year, and better its 1986 results, said chairman-elect Denys Henderson. "We expect to shift our company toward higher value-added businesses and continue to broaden our base," Henderson told reporters at an informal meeting here. ICI today announced the formation of a new U.S. drug company, ICI Pharma, which, with its Stuart Pharmaceuticals unit, it said will double its current pharmaceutical sales to 1.1 billion dlrs by 1990. Henderson said, "Our pharmaceutical business gets lost in the way that Glaxo's (Glaxo Holdings PLC) does not." ICI's pharmaceutical division is the second largest drug maker behind Glaxo in the U.K. Last year U.S. drug sales were about 40 pct of its worldwide drug sales of 1.5 billion dlrs, which in turn brought in 27 pct of its total profits. He estimated that by 1990, ICI's pharmaceutical division would account for about 30 pct of total company profits. "The drug division far and away brings in the highest rate of return," said A.W. Clements, finance director of ICI, who was also at the meeting. Henderson said the new U.S. drug concern would basically act as a second sales force to double the exposure of its drugs to doctors. ICI will hire 145 new salespeople by October one. Henderson said the major new products in the company's pipeline, expected to each bring in sales of over 200 mln dlrs annually, were Statil, a treatment for diabetic complications, Zoladex, a treatment for advanced prostate cancer, and Carwin, a treatment for mild to moderate congestive heart failure. Henderson said U.S. Food and Drug Administration approval to market Statil and Zoladex, both under joint licensing agreements with Merck and Co Inc <MRK>, is not expected until about 1989. ICI expects to file for permission to market Carwin in the U.S. later this year. Henderson said the company's 1987 results would top 1986 income of 888 mln dlrs or 5.45 dlrs per ADR on sales of 15 billion dlrs, but he declined to specify by how much. Henderson said 1987's results would be boosted by Glidden Paints, which ICI bought last November for 580 mln dlrs from a unit of Hanson Industries Inc. Henderson also said that ICI has about nine billion dlrs available for acquisitions. Last year the company made 40 acquisitions, the largest being Glidden. He said that more acquisitions may be made this year but he ruled out an acquisition of a pharmaceutical concern as "too expensive." Henderson said that in his new role of chairman, effective April one when he takes over from Sir John Harvey-Jones who will retire, the biggest challenge ahead lay in continuing the earnings momentum ICI has established over the past few years after restructuring and selling off unprofitable businesses. Reuter 

INT'L HYDRON CORP <HYD> 4TH QTR OPER NET

Oper shr profit six cts vs loss 20 cts Oper net profit 734,000 vs loss 2,312,000 Revs 16.8 mln vs 13.9 mln Year Oper shr profit 30 cts vs profit three cts Oper net profit 3,342,0000 vs profit 318,000 Revs 67.5 mln vs 52.6 mln NOTE: Excludes loss of 41,000 dlrs or nil vs gain 7,000 dlrs or nil in qtr and gain 247,000 dlrs or two cts vs gain 88,000 dlrs or one ct in year from net operating loss carryforwards. Reuter 

ALBERTSON'S <ABS> ADOPTS STOCKHOLDER RIGHTS PLAN

Albertson's Inc said its board has adopted a stockholder rights plan intended to protect them in the event of any proposed takeover of the company. Under the plan, stockholders will receive a dividend distribution of one right for each share of common stock held on March 23. The rights are exercisable ten days after a person or group acquires 20 pct or more of Alberston's common stock or announces a tender offer for 30 pct or more of the stock. Each right will entitle the shareholder to buy one newly issued share of Alberston's common stock for 150.00 dlrs. Reuter 

ROSPATCH <RPCH> REJECTS DIAGNOSTIC <DRS> BID

Rospatch Corp said it rejected a proposal by Diagnostic Retrieval Systems Inc to acquire its stock at 22 dlrs a share. Rospatch's board believes that the long term interests of its shareholders will be best served by continuing as an independent public company at this time, the company said in response to an unsolicited offer from Diagnostic Retrieval. Rospatch said Diagnostic's offer of February 27 is a variation of a previous offer in January, the nature of which was not disclosed. Rospatch said it advised Diagnostic Retrieval that "it would be contrary to the best interests of the corporation to engage in any discussions concerning a business combination with Diagnostic Retrieval." Reuter 

SYNTECH INTERENATIONAL INC <SYNE> 4TH QTR NET

Shr profit six cts vs loss 4.51 dlrs Net profit 815,167 vs loss 12,955,562 Revs 7,981,022 vs 2,954,488 Year Shr profit 16 cts vs loss 7.22 dlrs Net profit 2,446,100 vs loss 19,175,931 Revs 23.6 mln vs 14.6 mln Reuter 

INT'L MINERALS <IGL> BUYS ANIMAL PRODUCTS UNIT

International Minerals and Chemical Corp said it completed its acquisition of Johnson and Johnson Co's Pitman-Moore unit, a producer of animal health products. Terms of the acquisition were not disclosed. International Minerals and Chemical said annual sales of the unit are about 45 mln dlrs. Pitman-Moore makes health products for pets and for farm and feedstock animals. Reuter 

JWT <JWT> NOT APPROACHED BY GROUP SEEKING SHARES

JWT Group Inc has not been approached by former Ted Bates Worldwide Chairman Robert Jacoby about the possibility of a syndicate buying a 35 pct stake in JWT Group on a friendly basis, a company spokesman said. He said JWT would have no comment on an Advertising Age report that Jacoby is considering heading up a venture capital syndicate to purchase a 35 pct stake in JWT group. Jacoby was not immediately available for comment on the report. Ted Bates is now owned by <Saatchi and Saatchi>, the world's largest advertising agency. Reuter 

UAW WANTS TO REVIVE AMERICAN MOTORS <AMO> TALKS

The United Auto Workers said it is willing to enter renewed negotiations to end the impasse between American Motors Corp and two UAW locals in Wisconsin. American Motors earlier said it broke off talks with the UAW on a new labor contract for its plant at Kenosha, Wis. The company's move came after its latest contract offer was rejected by union negotiators. UAW vice president Marc Stepp said he "strongly recommends" new meetings be scheduled "at the earliest possible time." Stepp heads the UAW's American Motors department. Reuter 

BANC ONE <ONE> HAS MICHIGAN AFFILIATE

Banc One Corp said the First National Bank of Fenton has become Bank One, Fenton, bringing the number of its affiliates to three in Michigan. Reuter 

COEUR D'ALENE MINES CORP <COUR> 4TH QTR LOSS

Shr loss 18 cts vs loss one ct Net loss 1,343,000 vs loss 49,000 Revs 6,778,000 vs 1,976,000 Year Shr loss 67 cts vs loss ten cts Net loss 4,693,000 vs loss 672,000 Revs 14.0 mln vs 7,034,000 Note: 1986 loss included one-time loss of 3,624,000 dlrs on write-off of certain silver, oil and gas interests. Reuter 

FUNARO REJECTS UK SUGGESTION OF IMF BRAZIL PLAN

Brazilian Finance Minister Dilson Funaro flatly rejected a U.K. Suggestion that his country seek International Monetary Fund help in order to facilitate debt negotiations with commercial creditor banks. Talking to reporters, Funaro said this attitude would not help resolve the crisis started when Brazil suspended indefenitely interest payments on 68 billion dlrs in external debt on February 20. Funaro was in Britain on the first leg of a tour of European capitals to explain the motives of the Brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations. Talking before his departure for Paris, he said there could be no question of Brazil adopting another IMF austerity plan after a similar package four years ago "put Brazil in a very big recession." "We had an IMF program - it simply meant export more and import less. We are not going to go the IMF," he said. Funaro was reactnng to a British statement following his talks with Chancellor of the Exchequer Nigel Lawson, saying the U.K. Government had no part to play in what it viewed as a problem between Brazil and its commercial creditor banks. Britain also believed an IMF program would help along negotiations between Brazil and the commercial banks, the statement, which banking sources interpreted as an outright rebuttal of all Brazilian demands, said. "That was not my impression of the meeting," Funaro said; "But if the (British) answer is more or less like this, then that means nothing is helping to find a solution." Funaro stressed that his talks in Washington last week and in Europe this week were aimed at gaining official support to unblock lending from official credit agencies, rather than to deal with Brazils ties with commercial banks. "Since 1982, all official agencies have been closed to my country," he said. He said Lawson had made no commitments to support Brazil's efforts. Lawson would officially state his position when the two meet again next month for the IMF and World Bank spring meetings in Washington, Funaro said. Stressing there was no binding time schedule for Brazil's debt problem to be resolved, Funaro said Brazil had not come to Europe with specific proposals to overcome the present crisis. "We didn't come here to make a cash-flow programme," he said, "We will have meetings at the IMF next month - let's see what happens." Neither did Brazil plan a major overhaul of current domestic economic policies, which Funaro said would likely lead to a five pct economic growth this year. "Over the past five years we paid back 45 billion dlrs and received 11 billion ... This is a very big effort," he said. "What we have to offer is our cooperation." Reuter 

FOOTE MINERAL <FTE> SELLS CAMBRIDGE PLANT

Foote Mineral Co said it signed a letter of intent with Shieldalloy Corp, a wholly-owned subsidiary of <Metallurg Inc>, for the sale of its Cambridge, Ohio, business. The company said the sale, which will be explained in greater detail after the definitive agreement has been signed, is part of Foote's previously-announced plan to sell the entire company. Reuter 

U.S. WHEAT GROUPS CALL FOR GLOBAL ACTION

All major grain producing countries must do their part to help reduce global surpluses and the recent Australian farm policy proposals are flawed, two U.S. wheat organizations said. The recent Australian proposals were a good starting point for discussions, "but we do not want the Australians to feel they are alone in developing an agenda for discussions" on world grain trade, the president of the National Association of Wheat Growers, NAWG, and the chairman of U.S. Wheat Associates said in a letter to U.S. Agriculture Secretary Richard Lyng and U.S. Trade Representative Clayton Yeutter. Future discussions on international wheat trade should include three topics -- a commitment to privatization of government-run export trading entities, a commitment to public disclosure of sales and other terms if government entities are involved, and a recognition that supply reductions by the U.S. have kept world prices higher than they otherwise would be, the two organizations said While the Australian proposals are welcome the two organizations said they are not in total agreement with their assessments. Australia's proposals, which aim to reduce U.S. target prices and "quarantine" U.S. wheat stocks, would continue to place the burden of supply adjustment and reform on U.S. farmers, they said. Other countries, including Australia, have benefitted from the higher world prices that have resulted from past U.S. acreage and crop reduction programs, the organizations said. "We will not continue to hurt ourselves economically -- and subsidize foreign wheat production -- by unilaterally stocking grain and changing programs which protect our growers," Jim Miller, president of NAWG said. "We sincerely hope for some type of agreement among the world's major grain producing nations to reduce stocks and restore profitability to agriculture," Miller said. Reuter 

GELCO <GEL> SEES FLAT 1987 PRETAX OPERATING NET

Gelco Corp said that, excluding the effects of a restructuring plan, it expects pre-tax operating earnings for the year to end July 31, 1987, to be about the same as those of last year. For the year ended July 31, 1986, Gelco reported pre-tax operating earnings of 14.8 mln dlrs, or 1.08 dlrs a share. However, final results will be affected by certain charges including legal and investment advisors fees, preferred stock dividends and other costs of restructuring, it said. Expenses associated with restructuring are expected to be offset by "significant" gains from the sale of some of Gelco's business units, it said. The final outcome for the fiscal year will be determined by the timing and proceeds from the sale, it added. Reuter 

U.S. TROOPS GET COST-OF-LIVING INCREASE

Defense Secretary Caspar Weinberger ordered an increase in cost-of-living allowances for many U.S. military personnel abroad because of the decreased value of the dollar against foreign currencies, the Pentagon said. The allowances are expected to rise between 10 and 20 per cent in many areas beginning this month, the Pentagon said.. Weinberger also is providing for some family members of financially-pressed troops to fly home from West Germany, Japan, Italy and Spain on military transports if they desire. He said in a statement to the military that the cost-of-living increases "will help keep your overseas purchasing power close to your stateside counterparts." REUTER 

UTILICORP <UCU> ACQUIRES DOMINION <D> SUBSIDIARY

UtiliCorp United Inc said it has closed the previously announced acquisition of West Virginia Power from Dominion Resources Inc for about 21 mln dlrs. Reuter 

DAISY SYSTEMS <DAZY> INTRODUCES WORKSTATIONS

Daisy Systems Corp said it has introduced a line of computer-aided engineering workstations. The workstation family includes the Personal Logician 386, the Logician 386 and the Personal Logicial 286. The Personal Logician 386 is a desktop, 32-bit IBM Personal Computer AT-compatible workstation, base priced at 20,000 dlrs. The Logician 386 is a 32-bit accelerated graphics workstation, priced at 50,000 dlrs. The Personal Logician 286 is based on the IBM PC AT and the EGA graphics standard, base priced at 15,000 dlrs. Daisy said the products will be available in 90 days. Reuter 

WESTERN TELE-COMMUNICATIONS <WTLCA> JOINS GROUP

Western Tele-Communications Inc said that through its subsidiary, Westlink Inc, it has joined "Netlink USA", a general partnership consisting of Telluride Cablevision Inc and McCaw Satellite Programming Investments Inc. Western said it will act as a 40 pct investor, converting its cable television signals to satellite distribution in selected markets. The conversion is expected to improve reception of Denver television signals delivered to cable operators and other customers in underserved rural or remote areas of the U.S., the company said. Reuter 

PESCH SEES SHAREHOLDER SUPPORT IN AMI <AMI> BID

Chicago physician LeRoy Pesch said he has had discussions with several American Medical International Inc shareholders and sees support for a restructuring of the company. Pesch said he has discussed his sweetened, 1.91 billion dlr takeover bid for American Medical with several large shareholders, including the biggest investor, the Bass family of Texas. However, the Bass family has not indicated support one way or the other for his offer, he said. Pesch, in an interview with Reuters, said based on the conversations he held with shareholders, he could not guage whether he had majority support. He said, however, there is support for his offer. Pesch would not identify shareholders with whom he held discussions other than the Bass family and the Wedge Group Inc, the only other holder of more than five pct of American Medical stock. Earlier today, Wedge Group, which has a 5.5 pct stake, said it held discussions with Pesch, American Medical management and other American Medical shareholders. Wedge, in a filing with the Securities and Exchange Commission, said it believes a restructuring of American Medical and its business would be "highly desirable and appropriate at this time." "That's the sort of position that I find a large segment of shareholders of AMI really share," said Pesch. Pesch said he held discussions with Wedge about joining his takeover effort, in which he is offering 17 dlrs cash, four dlrs in preferred stock and one dlr in common stock for each American Medical share. Wedge said it has no plans to join in an effort to seek control of American Medical, but it would not rule out a future takeover try. Pesch said he did not discuss a joint takeover proposal with the Bass family. Some analysts saw the Wedge statement as a boost to Pesch's takeover effort and a further sign that there could be some shareholder dissatisfaction following American Medical's previous rejection of a 20 dlr per share all cash offer from Pesch. American Medical is expected to resist Pesch's latest bid. Larry Feinberg, an analyst with Dean Witter Reynolds Inc said a management-led leveraged buyout cannot be ruled out. An American Medical spokesman said the company will comment on the new Pesch offer by March 10. Analysts continue to view the Bass family as a factor in the outcome of the bid for control of American Medical. The Bass family holds an 11. 6 pct stake in American Medical, and the company has previously said the investors support management's internal plan to improve the company's performance. The Bass family would not comment on American Medical or Pesch. Pesch, who led the leveraged buyout of Republic Health Corp last year, continues to face a credibilty problem on Wall Street because of the long time it took to finish the Republic acquisition. Republic also has substantial debt, and has left wall street questioning whether financing can be completed for the much larger American Medical takeover proposal. Pesch's first offer for American Medical was made without an investment banking firm, another cause for concern to Wall Street. However, Pesch entered his second offer with representation from Donaldson, Lufkin, and Jenrette Securities and Security Pacific Merchant Banking Group. "I don't have any doubt that the current transaction can be worked out and completed, provided we get to the point where Ami management will sit down and talk in a friendly environment," Pesch said. Pesch would not elaborate on what type of financing arrangements are being made. He did say if he succeeds in acquiring American Medical he plans to keep much of American Medical management in place. He said he plans to combine the company with Republic to form an efficient network of hospitals. Analysts said they do not believe a much higher offer could be made for American Medical. Byron Nimocks of E.F. Hutton Group said improved second fiscal quarter earnings could make American Medical stock worth about 20 dlrs per share. Nimocks estimates American Medical earnings for the second quarter ended February 28 could be 35 cts, compared to a 95 ct loss last year. Nimocks said Pesch's revised offer is not worth much more than the 20 dlrs cash offered previously. But Feinberg said there is a better chance a transaction could be completed because of the revised structure of the offer. "I think it's much more doable," he said. Analysts have said American Medical has begun a turnaround by replacing some members of management and reducing costs. Reuter 

THREE CONVICTED IN HOME STATE FAILURE

Marvin Warner and two fellow officers of the former Home State Savings Bank were convicted on charges connected with the collapse of Home State. Warner, the owner of Home State, was found guilty of six counts of performing unauthoriazed acts -- investing some Home State money without authorization from the board of directors -- and three counts of securities violations in the 1985 collapse. He was acquitted on 76 counts of willful misapplication. Burton Bongard, former Home State president, was convicted of all 81 counts willful misapplication. David Schiebel, also a former president, was convicted on three of four counts of securities violations but was acquitted on 84 charges of willful misapplication. -- corrects warner's conviction The irregularities in which the men were charged led to a state-imposed moratorium on all state-insured savings and loan companies in Ohio, which was lifted on an individual basis as the firms were able to show proof of their solvency. Judge Richard Niehaus of Hamilton County Common Pleas Court ordered Warner jailed in lieu of 3.5 mln dlrs bond. He set a 1.5 mln dlr bond for Bongard and 25,000 dlr bond for Schiebel pending the appearance of the trio for sentencing March 30. Lawrence Kane, special prosecutor, said that Warner and Bongard could receive a maximum of 15 years in prison. He said that Schiebel could receive a maximum of 5 to 6 years on his convictions. All three were accused in the draining of 144 mln dlrs of Home State funds through investments with ESM Government Securities Inc. of Fort Lauderdale, Fla., which went bankrupt and triggered the collapse of Home State. On March 5, 1985, Ohio Governor Richard Celeste closed all of the state's privately-insured savings and loan companies and they remained closed until they could obtain federal deposit insurance or merge with other companies which had federal deposit insurance. Reuter 

VIDEO SHOPPING MALL ADDS FLORIDA STATION

<Video Shopping Mall Inc> said it signed WJTC-TV, Pensacola, Fla, to carry its self-improvement and specialized business opportunity programs. Video Shopping said the station, carried over UHF channel 44 in the Pensacola area, reaches about 120,000 households. Reuter 

NATIONAL EARLY WARNING SEEKS OMEGA BALLISTICS

<National Early Warning Systems Inc> said it has offered to purchase <Omega Ballistics Systems Inc> for an undisclosed amount of cash, stock and notes. Valley Cottage, N.Y., based Omega is a developer and designer of lightweight, custom-crafted ballistic, assault, flame and fire resistant paroducts. Reuter 

UNITED MERCHANTS <UMM> TO BUY ITS OWN STOCK

United Merchants and Manufactuerers Inc said its board has authorized the repurchase of up to one mln shares of the company's common stock. The company now has about 9.1 mln shares outstanding. It said the stock will be acquired from time to time on the open market, depending on market conditions and other factors. The number of shares purchased and the timing of the purchases are also subject to restrictions under certain of the company's debt instruments, it added. Reuter 

WESTINGHOUSE <WX>, MATSUSHITA <MC> SET VENTURE

Westinghouse Electric Corp said it agreed in principle to form a joint venture in factory automation with Matsushita Electric Industrial Co Ltd of Japan. The company said the venture aims to combine Matsushita's experience in high-volume electronics manufacturing and Westinghouse's knowledge of computer integrated manufacturing. The venture will design, sell and service automated manufacturing systems, and is expected to begin operations by the summer, it added. Reuter 

SENIOR DELEGATES PESSIMISTIC ON ICO TALKS

Efforts to break an impasse between coffee exporting and importing countries over regulating the world coffee market in the face of falling prices appear to have failed, senior delegates said after a contact group meeting. The full ICO council is due to meet this evening. President of the Brazilian Coffee Institute (IBC) Jorio Dauster told Reuters after the contact group meeting there had been no agreement on quotas as consumers had tried to dictate market shares rather than negotiate them. Dauster said there are no plans yet to renew negotiations at a later date. Reuter 

EDO CORP <EDO> UNIT WILL BUILD AIRCRAFT PARTS

EDO Corp said McDonnell Aircraf Co has invoked its 1987 production option calling for ejection release units for the F-15E aircraft. The company said the contract is not to exceed 10.1 mln dlrs and will be handled by its government systems division in College Point, N.Y. The company said the contract is a follow up to the full scale development and 1986 contracts previously awarded to EDO. Reuter 

GLAMIS GOLD LTD <GLGVF> SIX MTHS DEC 31 NET

Shr 16 cts vs 22 cts Net 1,226,597 vs 1,327,016 Revs 6,598,580 vs 5,921,828 Reuter 

U.S. APPROVES BUYOUT OF COASTAL BANCORP <CSBK>

Coastal Bancorp said the U.S. Federal Reserve Board approved the acquisition of Coastal by Suffield Financial Corp <SSBK>. The acquisition still requires approval from the Banking Department in Maine, the company noted. Reuter 

LITTLE PRINCE PRODUCTIONS LTD<LTLP>1ST QTR LOSS

Qtr ended Dec 31 Shr profit nil vs loss nil Net profit 858 vs loss 3,957 Revs 7,372 vs 1,500 Reuter 

BRAZIL CRITICISES ADVISORY COMMITTEE STRUCTURE

Brazil is not happy with the existing structure of the 14-bank advisory committee which coordinates its commercial bank debt, Finance Minister Dilson Funaro said. U.S. Banks have 50 pct representation on the committee while holding only 35 pct of Brazil's debt to banks, he said, adding "This is not fair with the European and Japanese banks." The committee had played a useful role in 1982 and 1983, however. Noting the often different reactions of U.S., Japanese and European banks, Funaro told journalists that Brazil might adopt an approach involving separate discussions with the regions. Since debtor nations' problems were normally treated on a case-by-case basis, "Perhaps the same principle should apply to creditors," central bank president Francisco Gros said. Brazil on February 20 suspended indefinitely interest payments on 68 billion dlrs owed to commercial banks, followed last week by a freeze on bank and trade credit lines deposited by foreign banks and institutions, worth some 15 billion dlrs. Funaro and Gros spent two days at the end of last week in Washington talking to government officials and international agencies and will this week visit Britain, France, West Germany, Switzerland and Italy for discussions with governments. Funaro and Gros are today meeting British Chancellor of the Exchequer Nigel Lawson, Foreign Secretary Geoffrey Howe and Governor of the Bank of England Robin Leigh-Pemberton. Bankers have estimated that Brazil owes U.K. Banks around 8.5 billion dlrs in long and medium term loans, giving the U.K. The third largest exposure after the U.S. And Japan. The crisis began when Brazil's trade surplus, its chief means of servicing its foreign debt, started to decline sharply and the problem was compounded by a renewed surge in the country'rate of inflation. Reserves were reported to have dropped below four billion dlrs. Reuter 

VANGUARD TECHNOLOGIES <VTI> WINS CONTRACT

Vanguard Technologies International Inc said it was awarded a 2.2 mln dlr contract from the Office of the Secretary of Defense to provide facilities management services. Under the one-year contract, which also has two one-year optional performance periods, the company said it will provide local area network operations, coordination of hardware installation and maintenance, user support services and systems and applications programming. Reuter 

AMCA <AIL> TO SELL SOME DOMINION BRIDGE ASSETS

AMCA International Ltd said it finalized agreement to sell certain assets and inventories of its Dominion Bridge steel service center operations to <Federal Industries Ltd>'s Russelsteel Inc unit. Terms were undisclosed. It said the sale involved assets and operations of the general line of steel service centers in Toronto and Edmonton, Alberta and steel from inventories of closed AMCA branches. The company said the sale was part of a previously announced restructuring program to allow it to focus on certain core businesses and generate cash to cut debt. Reuter 

CONDOR COMPUTER INTRODUCES DATABASE PRODUCT

<Condor Computer Corp> said it is offering a 3.5-inch floppy diskette version of its Condor 3 Database Management System. Th company said the new version contains all the features of its 5.25-inch package, including report writer and applications automation functions. Reuter 

SCOTT'S HOSPITALITY ACQUIRES CAPITAL FOOD

<Scott's Hospitality Inc> said it acquired Capital Food Services Ltd, Ottawa's largest catering and food service company, for undisclosed terms. Scott's said it would operate Capital Food as a separate unit under Capital's current name and management. Reuter 

FUNARO REJECTS SUGGESTION OF IMF BRAZIL PLAN

Brazilian Finance Minister Dilson Funaro flatly rejected a U.K. Suggestion that his country seek International Monetary Fund (IMF) help in order to facilitate debt negotiations with commercial creditor banks. Talking to reporters, Funaro said this attitude would not help resolve the crisis started when Brazil suspended indefinitely interest payments on 68 billion dlrs in external debt on February 20. Funaro was in Britain on the first leg of a tour of European capitals to explain the motives of the Brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations. Reuter 

SAATCHI AND SAATCHI <SACHY> COMBINES UNITS

AC and R Advertising, a subsidiary of Ted Bates Worldwide, a unit of one of the largest advertising agencies in the U.S., Saatchi and Saatchi, said it will merge with two other Bates units to form a new entity under Bates called AC and R/DHB and Bess. The company said the other units are Diener/Hauser/Bates (DHB) and Sawdon and Bess. AC and R chairman Stephen Rose said the combined billings will be 311 mln dlrs, representing a total of 157 clients. Reuter 

UNION NATIONAL <UNBC> SIGNS DEFINITIVE PACT

Union National Corp said it signed a definitive agreement under which its First National Bank and Trust Co of Washington unit will merge with <Second National Bank of Masontown>. Under a previously announced merger agreement, each share of Second National's common stock will be converted into 25 shares of Union National common. Reuter 

ANALYSTS SEE NO OTHER BIDDER FOR PUROLATOR<PCC>

Several analysts said they do not believe another suitor will top the 265 mln dlr bid for Purolator Courier Corp by E.F. Hutton LBO Inc and a management group from Purolator's courier division. There had been speculation another offer might be forthcoming, but analysts mostly believe the 35 dlrs per share price being paid by Hutton and the managers' PC Acquisition Inc is fully valued. Analysts and some Wall Street sources said they doubted another bidder would emerge since Purolator had been for sale for sometime before a deal was struck with Hutton Friday. Purolator's stock slipped 3/8 today to close at 34-3/4. It had been trading slightly higher than the 35 dlr offer on Friday. At least one analyst Friday speculated the company might fetch 38 to 42 dlrs per share. analysts and wall street sources doubted a competitive offer would emerge since the company has been for sale for sometime before the deal with Hutton was struck Friday. Hutton had been in talks with Purolator's adviser, Dillon, Read and Co since late December, a Hutton spokesman said. Hutton is offering 35 dlrs cash per share for 83 pct of the shares. If all shares are tendered, shareholders would receive 29 dlrs cash, six dlrs in debentures, and warrants for stock in a subsidiary of PC Acquisition containing the Purolator U.S. courier operation. Hutton values the warrants at two to three dlrs per share. Wall Street sources also said today that a rival bidder might be discouraged by a breakup fee Purolator would have to pay if it ends its agreement with Hutton. The sources would not reveal the amount of the fee, which will be noted in documents on the transaction to be made public later this week. Reuter 

FORMER BROKER, INVESTOR SENTENCED FOR TRADING

A former stock broker and an investor who pleaded guilty last June to insider trading as a participant in the scheme that involved lawyer Michael David were sentenced by the Manhattan federal court today. Morton Shapiro, who was employed as a broker at Moseley Hallgarten Stabrook and Weeden Inc, drew a two month jail sentence and a 25,000 dlr fine. Daniel J. Silverman, who pleaded guilty to securities fraud, was sentenced to three years probation, a 25,000 dlr fine, and ordered to provide 250 hours of community service. As a result of trading on information supplied by David, while he was at the firm of Paul, Weiss, Rifkind, Wharton and Garrison, the defendants gained about 160,000 dlrs in their insider trading scheme, according to U.S. Attorney Rudolph W. Giuliani. The prosecutor also said Shapiro attempted to conceal his unlawful trading by lying in testimony before the Securities and Exchange Commission. Reuter 

ANNUAL MAILING TO DELINQUENT FARMERS -- USDA

The Farmers Home Admininstration (FmHA) is undertaking its annual mailing of notices to delinquent farm borrowers, the U.S. Agriculture Department said. It said about 26,400 FmHA farm borrowers were delinquent on December 31, 1986, and will be sent letters by early March. They should get in touch with the FmHA county office as soon as possible to make an appointment to discuss the account, it said. The letter requests the borrower choose one or more servicing options listed on an accompanying form and return the form within 30 days, the department said. Reuter 

ANTITRUST LAWYER NOMINATED CLAIMS COURT JUDGE

Roger Andewelt, deputy assistant attorney general for litigation in the Justice Department's antitrust division since last June, is being nominated by President Reagan as a judge of the United States Claims Court, the White House said. The nomination, which is subject to Senate approval, is for a 15-year term. Andewelt, who has served in a number of antitrust division posts since 1972, would succeed Thomas Lydon at the Claims Court. Reuter 

PAN AM <PN> FEBRUARY LOAD FACTOR UP

Pan Am Corp said February load factor at Pan American World Airways rose two points to 51.9 pct from 49.9 pct a year ago. Traffic in February increased 11 pct to to 1.50 billion revenue passenger miles from 1.35 billion and rose 7.8 pct in the two months year to date to 3.31 billion from 3.07 billion. Available seat miles grew 6.7 pct in February to almost 2.90 billion from 2.72 billion and rose 4.8 pct to 6.11 billion from 5.83 billion in the two months. Year-to-date load factor increased to 54.1 pct from 52.6 pct. Reuter 

WHITEHALL CORP <WHT> 4TH QTR NET

Shr 15 cts vs 55 cts Net 557,000 vs 2,020,000 Revs 8,872,000 vs 13,908,000 Year Shr 60 cts vs 2.52 dlrs Net 2,198,000 vs 9,313,000 Revs 36.9 mln vs 55.7 mln Reuter 

SERVICE CORP INTERNATIONAL <SRV> 3RD QTR NET

Qtr ended Jan 31 Shr 33 cts vs 29 cts Net 14.8 mln vs 11 mln Revs 108.6 mln vs 70.0 mln Avg shrs 45.2 mln vs 37.6 mln Nine mths Shr 88 cts vs 76 cts Net 36.7 mln vs 28.7 mln Revs 260.4 mln vs 193.0 mln Avg shrs 41.9 mln vs 37.8 mln Note: Net for nine mths includes gains from dispositions of 1,783,000 dlrs or four cts a share vs 900,000 dlrs or two cts a share. Avg shrs and shr data restated to reflect three-for-two stock split in January. Reuter 

WARNER COMMUNICATIONS <WCI>IN CONTRACT WITH ROSS

Warner Communications Inc said its board has approved a 10-year employment contract with Chairman Steven J. Ross. The company said the contract was opposed by the six board members who are nominees of Chris-Craft Inc <CCN>. It said the new contract calls for "new bonus awards to be paid out over the period of the contract," based on the price of the company's stock. Its statement provided no details. Warner said the contract, which has been under discussion for a lengthy period, assures the stability and creative future of the company. Reuter 

PEOPLES BANCORPORATION <PEOP> QUARTERLY DIVIDEND

Qtly div 25 cts vs 25 cts Pay April 24 Record March 31 Reuter 

CAREMARK <CMRK> CHANGES FISCAL YEAR-END

Caremark Inc said it is changing its fiscal year-end to a calendar year from the previous fiscal year ending June 30. Reuter 

CPL REIT <CNTRS> 4TH QTR NET

Shr 24 cts Net 412,737 Revs 605,321 Year Shr 93 cts Net 1,577,892 Revs 2,345,261 NOTE: Full name CPL Real Estate Investment Trust. Company was formed Dec 30, 1985. Reuter 

STAR TECHNOLOGIES TO TRADE ON NASDAQ

Star Technologies Inc said its shares will begin trading on the Nasdaq national market system tomorrow. The company, a manufacturer of very high-speed computers for scientific applications, has annual revenues of about 40 mln dlrs. In the nine months ended Dec 31, the company earned 1.9 mln dlrs against a loss of 16.5 mln dlrs in the year-ago period, as sales rose to 32.6 mln dlrs from 9.3 mln dlrs. Reuter 

REPUBLIC AUTOMOTIVE PARTS <RAUT> 4TH QTR LOSS

Shr loss 85 cts vs loss 88 cts Net loss 2,410,000 vs loss 2,466,0000 Revs 24.0 mln vs 23.9 mln Year Shr loss 1.18 dlrs vs loss 81 cts Net loss 3,338,000 vs loss 2,275,000 Revs 101.4 mln vs 112.3 mln Reuter 

REALMERICA CO <RACO> YEAR NOV 30 NET

Shr profit four cts vs loss 16 cts Net profit 155,383 vs loss 577,336 Note: Net includes tax credit of 51,226 dlrs or one ct per share. Reuter 

CYBERTEK <CKCP> FORMING NEW DIVISION

Cybertek said it is forming a General Products division which will be located in Dallas. The new division will market personal computer software products targeted at the Fortune 500 companies, Cybertek said. Reuter 

S-K-I LTD <SKII> 2ND QTR JAN 25 NET

Shr 81 cts vs 57 cts Net 3,660,273 vs 2,437,914 Revs 28.5 mln vs 23.1 mln Six mths Shr 29 cts vs 12 cts Net 1,325,755 vs 483,559 Revs 31.7 mln vs 26.4 mln Reuter 

HOLIDAY CORP <HIA> TO REDEEM TWO BOND ISSUES

Holiday Corp said it would redeem on March 11 all outstanding 9-1/2 pct first mortgage bonds due 1995 of its Holiday Inns Inc unit and all 9-1/2 pct first mortgage bonds, Series A, due 1996 of its Harrah's subsidiary. The Holiday bonds will be bought back at 101.6 pct of the bonds' principal amount plus accrued interest, or 1,038.69 dlrs per 1,000 dlr face amount. Holiday will redeem the Harrah's bonds at 104.5 pct of the principal amount plus accrued interest, or 1,079.31 dlrs per 1,000 dlr face amount. Reuter 

ANCHOR GLASS <AGLS> CLEARED FOR LISTED ON NYSE

Anchor Glass Container Corp said it has been cleared to apply for listing on the New York Stock Exchange and expects to file its formal application for listing later this month, with trading to begin during the week of April 20. The company said the NYSE advised it management that the company meets the criteria for listing following successful completion of a preliminary eligibility review. Anchor also said its stock is being split two-for-one effective March 24 to holders of record March three. After the split, it said it will have 13.3 mln shares outstanding. Reuter 

BLOCKBUSTER <BBEC> UNIT GETS TWO MORE LICENSES

Blockbuster Entertainment Corp's Blockbuster Distribution Corp said it executed two additional area licenses to own and operate Blockbuster Videos Rental stores. It said these exclusive licenses were granted to <Videoco Inc> for the Greensboro, Winston-Salem, Raleigh-Durham and Highpoint, N.C. metropolitan areas. It said the licenses require a minimum of six Blockbuster superstores to be opened within a 25 month period. Reuter 

FERRO CORP <FOE> SETS JOINT VENTURE

Ferro Corp said it has formed a joint venture with Paris-based Alsthom Inudstrial Group to export U.S. epxertise in specialty composite materials to the European market. Ferro said although the airframe and aerospace industries are the prime users of composite materials today, it plans to develop applications for the ground transportation and industrial markets in the near future. Ferro also announced it has agreed to purchase CompositAir, a developer of composit materials applications, for an undisclosed sum. Reuter 

COMPUTER LANGUAGE <CLRI>UNIT OFFERS TAX PRODUCT

Computer Language Research Inc said its CLR/Micro-Tax unit introduced a Micro-Tax W-4 Generator, a new software package for accounts and corporate personnel departments. The company said the package takes the user through each question on the new W-4, gives explanatory instructions, automatically calculates entries, checks tables and generates the completed W-4. Reuter 

U.S. SELLS 3-MO BILLS AT 5.47 PCT, STOP 5.48 PCT, 6-MO 5.51 PCT, STOP 5.51 PCT

WHITE HOUSE'S HOWARD BAKER SAYS REAGAN TO ADDRESS NATION WEDNESDAY AT 2100 EST

NYMEX RULE CHANGE SEEN BOOSTING ENERGY TRADE

The New York Mercantile Exchange said it will introduce exchanges for physicals (EFPS) to its energy futures markets April one. An exchange spokeswoman said the change will allow oil traders that do not hold a futures position to initiate, after the exchange closes, a transaction that can subsequently be hedged in the futures market. EFPs, already in effect for platinum futures on NYMEX, are expected to increase the open interest and liquidity in U.S. energy futures, according to traders and analysts. The Commodity Futures Trading Commission approved the rule change in February, according to a CFTC spokeswoman. Reuter 

AMC EXTENDS INCENTIVE PROGRAM, WILL PAY CASH REBATES UP TO 700 DLRS

U.S. REFINERY COPPER STOCKS FALL IN JANUARY

Refined copper stocks held by U.S. refineries fell to 109,200 short tons at the end of January from 145,400 short tons at the end of December, the American Bureau of Metal Statistics reported. Commodity Exchange (Comex) copper stocks climbed to 103,000 tons in January from 93,300 tons in December. Combined refinery and Comex stocks eased to 212,200 tons in January from 238,700 tons in December. U.S. refined production declined to 117,600 tons in January from 137,400 tons in December. Crude output increased to 98,600 tons in January from 93,300 tons (revised lower) in December. Preliminary figures showed U.S. refined deliveries rose to 151,800 tons in January from 124,800 tons in December. Reuter 

WHITE HOUSE WITHDRAWS GATES NOMINATION AS CIA CHIEF

The White House announced it was withdrawing the controversial nomination of Robert Gates as CIA director at Gates's request and has not yet decided on a replacement. Withdrawal of the Gates nomination was announced by new White House Chief of Staff Howard Baker, who said President Reagan had several names under consideration to replace Gates but had made no decision on that score. Baker said Gates had sent Reagan a letter today requesting his name be withdrawn from nomination to succeed the ailing and resigned William Casey and that Reagan had "accepted with great regret." Reuter 

DIAMOND SHAMROCK <DIA> SETS MEETING RECORD DATE

Diamond Shamrock Corp said it set March 26 as the record date for stockholders entitled to vote at its April 30 annual meeting. Reuter 

WHITE HOUSE'S BAKER SAYS REAGAN TO MEET PRESS "VERY SOON"

CCL UNIT ACQUIRES NESTLE CANADA CAN OPERATIONS

<CCL Industries Inc>'s Continental Can Canada Inc unit said it acquired the Wallaceburg, Ontario, metal can making operations of Nestle Enterprises Ltd, wholly owned by <Nestle SA>, of Switzerland. Terms were undisclosed. Continental Can said it would supply Nestle's equivalent can requirements under a long-term agreement. Nestle said it decided to stop manufacturing cans "in order to be in a better position to take full advantage of the changes underway or on the horizon in food packaging technology." Reuter 

AMERICAN PORK CONGRESS KICKS OFF TOMORROW

The American Pork Congress kicks off tomorrow, March 3, in Indianapolis with 160 of the nations pork producers from 44 member states determining industry positions on a number of issues, according to the National Pork Producers Council, NPPC. Delegates to the three day Congress will be considering 26 resolutions concerning various issues, including the future direction of farm policy and the tax law as it applies to the agriculture sector. The delegates will also debate whether to endorse concepts of a national PRV (pseudorabies virus) control and eradication program, the NPPC said. A large trade show, in conjunction with the congress, will feature the latest in technology in all areas of the industry, the NPPC added. Reuter 

BURLINGTON'S EL PASO UNIT<BNI> FILES GAS PRICES

Burlington Northern Inc's El Paso Natural Gas Co said it filed its regularly scheduled gas cost adjustment that will leave its rates unchanged. But still pending is El Paso's proposal to the Federal Energy Regulatory Commission to directly bill its wholesale customers for deficiencies in natural gas liquid revenues. It said its filing called for a commodity rate of about 2.57 dlrs per dekatherm, but noted that the rate could drop to 1.84 dlrs if the Commission approves its proposal to bill wholesale customers directly for the revenue deficiencies. Reuter 

COPPER STOCKS OUTSIDE U.S. INCREASE IN DECEMBER

Refined copper stocks held by refineries outside the U.S. increased to a preliminary 277,500 short tons at the end of December from a preliminary 270,000 short tons (revised higher) at the end of November, the American Bureau of Metal Statistics said. London Metal Exchange stocks fell to 193,100 tons in December from 194,400 tons in November. Combined refinery and LME stocks rose to a preliminary 470,600 tons from 464,400 tons (revised higher). January LME stocks were 193,400 tons. Preliminary figures showed refined production outside U.S. lower at 377,300 tons in December versus 384,000 tons in November. Crude output decreased to 421,500 tons from 427,000 tons (revised higher). Refined copper deliveries decreased to 359,800 tons from 375,400 tons (revised lower). Reuter