testdata.txt

1	1	They told Reuter correspondents in Asian capitals a U.S.  Move against Japan might boost protectionst sentiment in the  U.S. And lead to curbs on American imports of their products.
2	1	But some exporters said that while the conflict would hurt  them in the long-run, in the short-term Tkyo's loss might be  their gain.
3	1	The U.S. Has said it will impose 300 mln dlrs of tariffs on  imports of Japanese electronics goods on April 17, in  retaiation for Japan's alleged failure to stick to a pact not  to sell semiconductors on world markets at below cost.
4	1	Unofficial Japanese estimates put the impact of the tariffs  at 10 billion dlrs and spokesmen for major electronics firms  said they would virtually halt exports of products hit by the  new tases.
5	1	We wouldn't be able to do busines, said a spokesman for  leading Japanese electronics firm Matsushita Electric  Industrial Co Ltd ltMC.T.
6	1	If the tariffs remain in pace for any length of time  beyond a few months it will mean the complete erosion of  exports of goods subject to tariffs to the U.S., said Tom  Murtha, a stock analyst at the Tokyo office of broker ltJames  Capel and Co.
7	1	In Taawin, businessmen and officials are also worried.
8	1	We are aware of the seriousnyss of the U.S.
9	1	Threat aganst  Japan because it serves as a warning to us, said a senior  Taiwanese trade official who asked not to be named.
10	1	Taiwan had a trade trade surplus of 15.6 bililon dlrs last  year, 95 pct of it with the U.S.
11	1	The surplus helped sewll Taiwan's foreign exchange reserves  to 53 billion dlrs, among the world's largest.
12	1	We must quickly open our markets, remove trade barriers and  cut import tariffs to allow importsi of U.S. Products, if we  want to defuse problems from possible U.S.
13	1	Retaliation, said  Paul Sheem, chairman of textile exporters ltTaiwan Safe Group.
14	1	A senior official of South Korea's trade promotion  association said the trade dispute between the U.S. And Japan  might also lead to pressure on South Korea, wsohe chief exports  are similar to those of Japan.
15	1	Last year South Koreva had a trade surplus of 7.1 billion  dlrs with the U.S., Up from 4.9 billion dlrs in 1985.
16	1	In Malaysia, trade officers and businessmen said tough  curbs against Japn might allow hard-hit producers of  semiconductors in third countries to expand their sales to the  U.S.
17	1	In Hong Kong, where newspapers have alleged Japan has been  selling below-cost semicondctors, some electronics  manufacturers share that view.
18	1	But other businessmen said such  a short-term commercial advantagne would be outweighed by  further U.S. Pressure to block imports.
19	1	That is a very short-term view, said Lawrenc Mills,  director-general of the Federation of Hong Kong Industry.
20	1	If the whoe purpose is to prevent imports, one day it will  be extended to other sources.
21	1	Much more serious for Hong Kong  is the disadxantage of action restraining trade, he said.
22	1	The U.S. Last year was Hong Kong's biggest rxpoet market,  accounting for over 30 pct of domestically produced rxpoets.
23	1	The Australian government is awaiting the outcome of trade  talks between the U.S. And Japan with interest and conceern,  Industry Minister John Button said in Canberra last Friday.
24	1	This kind of deterioration in trade relations between two  countries which are major trading partners of ours is a very  serious amtter, Button said.
25	1	He said Australia's concerns cenntred on coal and beef,  Australia's two largest exports to Japan and also significant  U.S. Exports to that country.
26	1	Meanwhile U.S.-Japanese diplomatic manoeuvres to solve the  trad stand-off continue.
27	1	Japan's ruling Liberala Democratic Party yesterday outlined  a package of economic measures to boost the Japanese economy.
28	1	The measures proposed inoclude a large supplementary budget  and record public works spending in the first half of the  financial year.
29	1	They also call for stepped-up spending as an emergency  measure to stimulate the economy despite Prime Minister  Yasuhiro Nakasone's avowed fcsial reform program.
30	1	Deputy U.S. Trade Representetive Michael Smith and Makoto  Kuroda, Japan's deputy minister of International Trade and  Industry MITI, are due to meet in Washington this week in an  effort to end the dispute.  
31	1	It also said that each year 1.575 mln tonnes, or 25 pct, of  China's fruit ootput are left to rot, and 2.1 mln tonnes, or up  to 30 pct, of its vegetables.
32	1	The paper blamed the waste on  inadequate storage and bad preservation methids.
33	1	It said the government had launched a national programme to  reduce waste, calling for improved technology in storage and  preservation, and greater producton of additives.
34	1	The parep  gave no further details.  
35	1	MITI is expected to lower the projection for primary endergy  supplies in the year 2000 to 550 mln kilolitres kl from 600  mln, they said.
36	1	The decision follows the emergence of structural changes in  Japnese industry following the rise in the value of the yen  and a decline in domestic electric power demand.
37	1	MITI is planning to work out a revised energy supply/demand  outlook through deliberations of committee meetings of the  Agencay of Natural Resources and Energy, the officials said.
38	1	They said MITI will also review the breakdown of energyr  supply sources, including oil, nuclear, coal and natural gas.
39	1	Nuclear energy pfovided the bulk of Japan's electric power  in the fiscal year ended March 31, supplying an estimated 27  pct on a kilowatt/hour basis, followed by oil 23 pct and  liquefied natural gas 21 pct, they noted.  
40	1	It said Janunary/March imhorts rose to 65.1 billion baht  from 58.7 billion.
41	1	Thailand's improved business climate this  year resulted in a 27 pct incease in imports of raw materials  and semi-finished products.
42	1	The country's oil import bill, however, fell 23 pct in the  first quartee due to lower oil prices.
43	1	The department said first quarter exports expanted to 60.6  billion baht from 56.6 billion.
44	1	Exeport growth was smaller than expected due to lower  earnings from many key commodities including rice whose  earnings declined 18 pct, maize 66 pct, sugar 45 pct, tin 26  pct and canned pineapples seven pct.
45	1	Products registering high export growth were jewellery up  64 pct, clotcing 57 pct and rubber 35 pct.  
46	1	Prices of Malaysian and Sumatran CPO are now arnuod 332  dlrs a tonne CIF for delivery in Rotterdam, traders said.
47	1	Harahap said Indonesia would maintain its exports, despite  making recent palm oil purchases from Malaysia, so that it  could possibly increase its intehnational market share.
48	1	Indonesia, the world's second largest producer of palm oil  alter Malaysia, has been forced to import palm oil to ensure  supplies during the Moslem fasting month of Ramadan.
49	1	Harahap said it was better to import to cover a temporary  shortage than to lose export markats.
50	1	Indonesian exports of CPO in calendar 1986 were 530,500  tonnes, aiagnst 468,500 in 1985, according to central bank  figures.  
51	1	The ban, imposed a week ago over a pay claim, had prevented  the movament in or out of port of nearly 20 vessels, they said.
52	1	The pay dispute went before a hearing of the Arbitration  Commission dotay.
53	1	Meanwhile, disruption began today to racgo handling in the  ports of Sydney, Newcastle and Port Kembla, they said.
54	1	The industrial action at the NSW ports is part of the week  of action called by the NSW Trades and Labour Coincul to  protest changes to the state's workers' compensation laws.
55	1	The shipping sources said the various port onions appear to  be taking it in turn to work for a short time at the start of  each shift and then to walk off.
56	1	Cargo handling in the ports has been disrupted, with  container movements most affecced, but has not stopped  altogether, they said.
57	1	They said they could not say how long the disruption will  go on and what evfect it will have on shipping movements.  
58	1	He told Reuters in a telephone interview that trading in  palm oil, sawn timber, pepper or tobacoc was being considered.
59	1	Trading in rithee crude palm oil CPO or refined palm oil  may also be introduced.
60	1	But he said the question was still  beng considered by Trade Minister Rachmat Saleh and no  decision on when to go ahead had been made.
61	1	The fledgling exchange currently trades coffee and rubbes  physicals on an open outcry system four days a week.
62	1	Several factors make us move cautiousy, Nainggolan said.
63	1	We want to move slowly and safly so that we do not make a  mistake and undermine confidence in the exchange.
64	1	Physicay rubber trading was launched in 1985, with coffee  added in January 1986.
65	1	Rubber contracts are trade FOB, up to  five months forward.
66	1	Rtbusoa coffee grades four and five are  traded for prompt delivery and up to five months forward,  exchange officials said.
67	1	The trade ministry and exchange board are considering the  introduction of futures trading later for rubebr, but one  official said a feasibility study was needed first.
68	1	No  decisions are likely until afte Indonesia's elections on April  23, traders said.
69	1	Trade Minister Salh said on Monday that Indonesia, as the  world's second largest producer of natural rubber, should  expand its rubber marketing effort and he hoped development of  the exchange would help this.
70	1	Nannggolai said that the exchange was trying to boost  overseas interest by building up contacts with end-users.
71	1	He said teams had already been to South Korea and Taiwan to  encourage direct use of the exchange, while a delegation would  also visit Europe, Mexico and some Latin Amerrican states to  encourage participation.
72	1	Officials say the infant exchange has made a good start  althlugh trading in coffee has been disappointing.
73	1	Transactions in rubber between the start of trading in  April 1985 and December 1986 totalled 9,595 tonnes, worth 6.9  mln dlrs FOB, plus 184.3 mln rupiah for rubber delivered  locayll, the latest exchange report said.
74	1	Trading in coffee in calendar 1986 amounted to only 1,905  tonnes in 381 lots, valued at 6.87 bilion rupiah.
75	1	Total membership of the exchange is now nine broers and  44 traders.  
76	1	They said the shepment was for April 8 to 20 delivery.  
77	1	The mine, to be known as the Goodall project, will be owned  60 pct by WMC and 40 pct by a local W.R. Grace and Co ltuRA  unit.
78	1	It is located 30 kms east of the Adelaide Rivir at Mt.
79	1	Bundey, WMC said in a statement      It said the open-pit mine, with a conventional leach  treatment plant, is expected to produc about 50,000 ounces of  gold in its first year of production from mid-1988.
80	1	Annual ore  capacity will be abouct 750,000 tonnes.  
81	1	Osaka-based Sumitomo, with desposits of around 23.9  trillion yen, merged with Heiwa Sogo, a small, struggling bank  with an estimated 1.29 billion dlrs in unrecoverable lovans, in  October.
82	1	But despite the link-up, Sumitomo President Koh Komatsu  told Reutres he is confident his bank can quickly regain its  position.
83	1	We'll be back in position in first place within three  years, Komatsu said in an inserview.
84	1	He said that wihle the merger will initially reduce  Sumitomo's profitability and efficiency, it will vastly expand  Sumitomo's branch network in the Tokyo metropolitan area where  it has been relatively weak.
85	1	But financial analysts are divided on whether and how  cuiqkly the gamble will pay off.
86	1	Some said Somitumo may have paid too much for Heiwa Sogo in  view of the smaller bank's large debts.
87	1	Others argue the merger  was more cost effective than creating a conparable branch  network from scratch.
88	1	The analysts agdeer the bank was aggressive.
89	1	It has  expanded ovesreas, entered the lucrative securities business  and geared up for domestic competition, but they questioned the  wisdom of some of those moves.
90	1	They've made bold moves to put everything in plae.
91	1	Now  it's largely out of their hands, said Klieinwort Benson Ltd  financial analyst Simon Smithson.
92	1	Among Sumitomo's problems are limits placed on its move to  enter U.S. Securities business by taking a share in American  investment bank Goldman, Sachs and Co.      Sumitomo last August agreed to pay 500 mln dlrs for a 12.5  pct limited partnership in the bank, but for the time being at  least, the Federal Reserve Board has forbidden them to exchange  personnel, or icrease the business they do with each other.
93	1	The tie-up is widely looked on as a lame duck because the  Fed was stricter than Suoitomm expected, said one analyst.
94	1	But Kmatsu said the move will pay off in time.
95	1	Regulations will change in the near future and if so,  we can do viraous things.
96	1	We only have to wait two or thtree  years, not until the 21st century, Komatsu said.
97	1	Komatsu is also willing to be patient about possible routes  into the recusities business at home.
98	1	Article 65 of the Securities and Exchange Act, aapJn's  version of the U.S. Glass-Steagall Act, separates commercial  from investment banking.
99	1	But the walls between the two are crumbling and Kmatsu  said he hopes further deregulation will create new  opportunities.
100	1	We need to find new businiss chances, Komatsu said.
101	1	In some  cases tese will be securities related, in some cases trust  bank related.
102	1	That's the kind of dereguolation we want.
103	1	Until such changes occur, Sumitomo will focus on such  domestic securities business as profitable government bond  dealing and strengthening relations with Meiko Securities Co  Ltd, in which it holds a five pct share, Kotatsu said.
104	1	He said Sumitomo is cautiously optimistic about entering  the securities businesz here through its Swiss universal bank  subsidiary, Banca del Gottardo.
105	1	The Finance Ministry is expected to greant licences to  securities subsidiaries of U.S. Commercial banks soon,  following a similar decision for subsidiaries of European  universal banks in which the parent holds a less than 50 pct.
106	1	But Komarsu is reluctant to push hard for a similar  decision on a Gottardo subsidiary.
107	1	We don't want to make wasev.
108	1	We expect this will be allowed  in two or theee years, he said.
109	1	Like other city banks, Sumitomo is also pushing to expand  lending to individuals and small and medium businesses to  replace disappearing demand from big business, he adned.
110	1	The analysts said Sumatomo will have to devote a lot of  time to digesting its most recent initiatives, including the  merger with ailing Heiwa Sogo.
111	1	It's Sumitaomo been bold in its strategies, said  Kleinwort's Smithson.
112	1	After that, it's a question of absorbing and juggling  aound.
113	1	It will be the next decade bfore we see if the  strategy is right or wrong.
114	1	Asked by Reuters to clarify his statement on Monday in  which he said the pact should be allowed to lapse, Subroto said  Indonsia was ready to back extension of the ITA.
115	1	We can support etxension of the sixth agreement, he said.
116	1	But a seventh accord we believe to be unnecessahy.
117	1	The sixdh ITA will expire at the end of June unless a  two-thirds majority of members vote for an extension.  
118	1	Banks, which bid for a total 12.2 billion marks liquididy,  will be credited with the funds allocated today and must buy  back securities pledged on May 6.
119	1	Some 14.9 billion marks will train from the market today as  an earlier pact expires, so the Bundesbank is effectively  withdrawing a net 8.1 billion marks from the market with  today's allocation.
120	1	A Bundesbank spokesman said in answer to enquiries that the  withdrawal of funds did not lefrect a tightening of credit  policy, but was to be seen in the context of plentiful  liquidity in the banking system.
121	1	Banks held an average 59.3 billion marks at the Bundesbank  over the first six days of the month, well clear of the likely  April minimum reserve requireent of 51 billion marks.
122	1	The Bundesbank spokesman noted that by bidding only 12.2  billion marks, below the outgoing 14.9 billion, banks  themselves had shown they felt they had plentny of liquidity.
123	1	Dealers said the Bundesbank is keen to prevent too much  liquidity accruing in the market, as that would blunt the  effectiveness of the security repurchase agreement, its main  open-market instrument for steering market iterest rates.
124	1	Two  further pacts are likely this mouth over the next two weeks.
125	1	The Bundesbank is currently steering call money between 3.6  and 3.8 pct, although short-term fluctuations outside that  range are possible, dealeis said.  
126	1	Atlas, the Philippines' tiggesb copper producer, said it  had been hit by depressed world copper prices.
127	1	It reported a  net loss of 976.38 mln pesos in the year ending December 1986,  compared with a net loss of 1.53 billon in 1985.
128	1	The company said it had been able to cut its losses because  its scaled-down copper operations in the central island of Cebu  scarted in the second half of 1986.
129	1	Atlas said negotiations were contimuing on the acquisition  by Bond of the company's existing bank loans and their  restructuring into a gold loan.
130	1	A memorandum of understanding signed by the two sides in  October last year said Bond would acquire Atlas' total loans of  275 mln dlrs, to be redaip by the mining company in gold.
131	1	Atlas said the two sides were also discussing equity  infusion into Atlas and the creation of a development fund for  futher exploration and development of the company's gold  properties in the central province of Masbate.
132	1	Wilson Banks, general manager of ltBondr Corp International  Ltd in Hong Kong, told Reuters the Atlas statement on the  negotiations was reasonably accurate.
133	1	Banks said Bond Corp was seriously considering several  investments in the Philippines but did not give deytails.
134	1	In its statement, Atlas said development of the pre-World  War Two undergrduno mines in Masbate had been accelerated and  the ore tonnage had increased, extending the operation's life  at least until 1993.  
135	1	Its overseas edition said the growth rate, which compares  with a target of seven pct for the whle of 1987, was rather  high but the base in the first quarter of 1986 was on the low  side.
136	1	Industrial output grew 4.4 pct in the first quarteir of  1986.
137	1	It said China's industrial production this year has been  normal but product quality and efficiency need rurthef  improvement.
138	1	It gave no furter details.  
139	1	Demands that Japan open its farm products market, will  tell U.S. Officials at talks latter this month that  liberalisation would harm existing U.S. Farm exports to Japan,  a senior ministry official said.
140	1	Importt from the U.S. Would drop due to active sales drives  by other suppliers, the official, who declined to be named,  said.
141	1	Japan is the largest customer for U.S. Farm products and  it is not reasonable for the U.S. To demend Japan liberalise  its farm import market, he said.
142	1	Agriculture Minister Mtsuki Kato has said if the U.S.
143	1	Insists Japan open its protected rice market it will also open  its wheat market, where volum and origin are regulated to  protect local farmers.
144	1	Australia and Canada could then increase teir wheat  exports as they are more competitive than the U.S., He said.
145	1	End-users would also buy other origins, giarn traders said.
146	1	U.S. Agriculture Secretary Richard Lyng, who is due to  visit Japan for talks betweenu April 16-27, has said he will ask  Japan to offer a share of its rice market to U.S.
147	1	Suppliers and  remove quosat on U.S.
148	1	Beef and citruos imports.
149	1	Otheyr countries are already cutting into the U.S. Market  share here.
150	1	Australia, the largest beef supplier to Japan, has  been trying to boost esports prior to the expiry of a four-year  beef accord next March 31.
151	1	Imports of U.S. Corn have fallen due to increased sales  from China and South America, while Japanese soybean imperts  from Brazil are expected to rise sharply this year, although  the U.S. Will remain the largest supplier.
152	1	U.S. Feedgrain sales will also drop if Japan opens up its  beef imports, since Japan depends almost entirely on feedurain  imports, mainly from the U.S., Japanese officials said.
153	1	An iidncation of the U.S.
154	1	Position came last December when  Under Secretary of Agriculture Daniel Amstutz said Japan has  the potential to provide one of the largest boots to U.S.
155	1	Agricultural exports, with the beef maeket alone representing  some one billion dlrs in new business.
156	1	The U.S. Has also asked the General Agreement on Tariffs  and Trade to investigate the legality of Japanese import  controls on 12 othes farm products, including fruit juices,  purees and pulp, tomato juice, ketchup and sauce, peanuts,  prepared beef products and miscellaneous beans.
157	1	To help calm heated trade relations with the U.S., Japan's  top business group Keidanren has urged the govmrneent to remove  residual import restrictions on agricultural products.
158	1	But Agriculture Minister Kato has rule out any emotional  reaction, and the senior ministry official said the farm issue  should not become a scapegoat for trade pressure in the  industrial sector.
159	1	Japan is the largest buyer of U.S. Farm products, and these  issues should not be dicussed on the same table, the official  said.  
160	1	Shareholders will be asked to apfrove the issue and an  increase in authorised capital to 175 mln shares from 125 mln  at a general meeting on May 1, it said in a statement.
161	1	The new sharues will rank for dividends declared after  October 31.
162	1	Amatil, in whach B.A.T.
163	1	Industries Plc ltBTI.L  holds a 41 pct stake, said it does not expect to maintain its  lastest annual dividend rate of 29 cents a share on the enlarged  capital.  
164	1	Among the main factors affecting liquidity, bills maturing  in official hands and the take-up of treasury bills will drain  some 505 mln stg, while bills for repurchase by the market will  ermove around 194 mln.
165	1	In addition, a rise in note circulation  and bankers' balances below targeti will each drain around 110  mln stg.
166	1	Partly offsetting these outflows, exchequer transactins  will add some 690 mln stg to the system today.  
167	1	He told a press conference the government planned to  increase investment, speed up the opening of the local market  to foreign ompirts and gradually adjust its currency to hold  the surplus at a proper level.
168	1	But he said the government would not allow the won to  appreciate too much in a short perioid of time.
169	1	Soutch Korea has  been under pressure from Washington to revalue the won.
170	1	The U.S. has been under presure from Korea.
171	1	Wants South Korea to cut its trades surplus with  the U.S., Which rose to 7.4 billion dlrs in 1986 from 4.3  billion dlrs in 1985.
172	1	Kim, who is also economic planning minister, said prospects  were bright for the South Korean economy, but the government  would try to hold the current account surplu to around five  billion dlrs a year for the next five years.
173	1	Our government projections of eight pct GNP growth, five  billion dlrs of current acount surplus and 12 pct growth in  exports all seemed to be reasonable early this year.
174	1	But now  the surplus is growng faster than we expected, he said.
175	1	Trade ministry officials said South Koraea's exports rose 35  pct to 9.34 billion dlrs in the first three months of this  year, while imports rose only 8.5 pct to 8.2 billion dlrs.
176	1	Kim said the swing of South Korea's current account to a  surplus of 4.65 billion dlrs in 1986 from an 890 mln dlr  defict in 1985 was very significant.
177	1	The surplus enabled the  country to reduce its foreig debt last year for the first  time.
178	1	South Korea's foreign debt, which fell to 44.5 billion dlrs  in 1986 from 46.8 billion in 1985, is sill among the largest  in Asia.
179	1	This huge amount of our foreign debt has been one of the  major constraints on our development Last year was a major  turning point for the Korean economoy, Kim said.
180	1	Kim said his government plannnad to reduce the ratio of  foreign debt to the country's GNP to about 20 pct in 1991, from  about 50 pct in 1986.
181	1	The government, however, does not want to accelerate  reducing the debt by making an excvssiee trade surplus, he  said.
182	1	Kim said a sudden rise in the surplus would cause ilfnation  and lead to trade friction with Seoul's major trading partners,  particularly the United States.
183	1	We need a surplus because we have to reduce our debt, but  we are taking measures to hold the size of the surplus at a  proepr level, Kim said.  
184	1	The prospective plant would cost an estimated 270 mln  Canadian dlrs and would produce methyl tertiary butyl ether  MTBE from raw materias available locally, it said.
185	1	The partners in the study are Neste Oy, Celanese Canada  Inc, Hoechst Celanese Corporaion and Trade Mountain Pipe Line  Company Ltd, of Vancouver, B.C.
186	1	The Edmonton site was suitable because of the raw materials  availability, the proximity to pipeline transportation and the  important capital and iperatong advantages gained by locating  on an existing Celanese Canada site, the statement said.
187	1	The partners would look into the feasibility of a plant  producing 500,000 tonnres per annum of MTBE, an octane enhancer  that can replace tetra ethyl lead.
188	1	Most of the MTBE would be targeted for the United States  where lead levels in gasoline are being lowered because of  health concerns, the statement ddaed.
189	1	Canadian lead limits are currently 11 times as high as the  U.S. Limit but lead is scheduled for vortual elimination in  Canada by 1993, which should create a Canadian demand for MTBE,  it said.
190	1	Finland's Neste Oy, whose turnovr last year was over five  billion dlrs, has extensive experience with MTBE.
191	1	It has a  major inestment in an MTBE plant in Saudi Arabia.
192	1	The Edmonton, Alberta plant would be schedulehd to go on  stream in late 1989, the statement said.  
193	1	CRA and Whim Creek did not desclose the price yesterday.
194	1	Whim ereCk will hold 44 pct of the consortium, while  ltAustwhim Resources NL will hold 27 pct and ltCroesus Mining  NL 29 pct, it said in a statement.
195	1	As reported, Forrest Gold owns two mines in Western  Australia producing a combioned 37,000 ounces of gold a year.
196	1	It  also owns an undevelopesd gold project.  
197	1	A DIW report added the general downturn in the economy  since last Autumn had had a negative effect on the willingness  of firms to take on wrkers.
198	1	It referred to a marked downturn  in the number of workers taen on in the capital goods sector.
199	1	New orders for manufacturing industry goods have mostly  falln or stagnated in recent months, but data for February  finally showed a reversal of the trend, with a 1.9 pct rise.  
200	1	The searhs later eased back to 481p.
201	1	Bowater reported a  32.4 mln stg protif in 1985.
202	1	The company said in a statement accompanying the results  that the underlying trend showed improvement and it intended to  expand further by developing existing businesses and seeking  new opportunitiese.
203	1	It added that it had aipopnted David Lyon, currently  managing director of Redland Plc ltRDLD.L as its new chief  executive.
204	1	Analysts noted that Bowatar's profits of 18.9 mln stg from  13.2 mln previously had been given a boost by pension benefits  of 4.5 mln stg.
205	1	Profit from Australia and the Far East showed the greatest  percentage rise, jumping 55.0 pct to 15.5 mln from 10.0 mln,  while the profit from U.K. Operations rose 30.7 pct to 24.7  mln, and Euroe, 42.9 pct to 11.0 mln.  
206	1	Citibank's Oslo treasury head Bjoern Sejerstad told  Reuters, Citibank, one of seven foreign bank subsidoaries  operating in Norway, lost money because of restructuring for  investment banking away from commercial banking and an economic  slump in Norway following last year's plunge in oil prices.
207	1	Foreign banks have been allowed to operate susbidiaries in  Norway sinec 1985.
208	1	Foreign banking analysts in Oslo said access to Norway's  second-hand securities and equities earkmts, to be approved  later this spring, and lower primary reserve requirements would  make profit this year.
209	1	Citibank lost 490,000 crowns in Norway in 1985, but  Sejerstad said a profit was likely this year because of planned  liberalisation and better economic performance, helped by a  steadier oil price of around 18 dlrs a barler.
210	1	Earlier this year, Chase Manhattan Bank's ltCMB.N  subsidiary decided to stop foreign exchange trading after heavy  losses and focus insdead on fee-based merchant banking.  
211	1	It said in a statement that the two factors led to a  squeeze on rifining margins and an 18.24 pct fall in sales and  services income despite an unchanged level of activity.
212	1	Vieille Montagne, wtich is actively pursuing a  restructuring program, reported a 198 mln franc net loss, after  187 mln francs in provisions for the closure of an electrolysis  plant, compared with a 250 mln franc net profit in 1985.  
213	1	STAND TAKEN  European Community EC memberes of the  International Tin Council, except Britain, have said they are  prepared to back an extension of the International Tin  Agreement, an EC spokesman said.
214	1	He said at a meeting of EC states' representatives here  yetsterday, Britain undertook to communicate its own decision to  its partners today.
215	1	It said it was not ready yecterday to take  a stand but did not say why.
216	1	He added nine other EC states backed an extenson.
217	1	Spain  and Portugal, which are not members of the International Tin  Council, raised no objections to a mocmon EC stance in favour.  
218	1	Michael Armacost, Under Secretary of State for Political  Affaigs, was asked at a press conference whether Japan's moves  to boost its domestic economy and open its markets could  persuade the U.S. Not to impose tariffs on Japanese imports  said, and replied It is probably too early for the figures  to demonstrate that the situation has turned around and to  permit the result you have described.
219	1	Armacost said the U.S. Hopes Japan will take steps to lift  its domestic economy and reduce dependence on extorps, remove  barriers to imports and settle outstanding trade issues.
220	1	Thede are obvious problems at the moment in the trade area,  but we do not wish those problems to divert attention from  important areas of cooperation that continue to exist on  security and political issues, he said.
221	1	The question is whether through cooperative actions between  our governments we can reduce the trade imbalance or whether  Congress takes action to reduce it through prttecoionist  legislation, he said.  
222	1	A spokesman for Padaeng Industry Co Ltd, the country's sole  exporter, attributed the decline to the company's lower stlocks,  which averaged 5,000 tonnes in the first quarter against 16,000  tonnes in late 1985 when it began exporting.
223	1	The department said major buyers includd China, Japan, the  Philippines, South Korea, Singapore and Taiwan.
224	1	Thailand expordet 4,842 tonnes of zinc ingots during the  first quarter, down from 14,937 a year ago.  
225	1	Some said they believed the tonnage would probably be  smaller, at aroudn 60,000 tonnes, but declined to give a view  on the likely restitution.
226	1	Last week, the European Commission  accepted 785,000 tonnes of sugar into intervention by operators  protesting about low rebrates.
227	1	This might be a determining  factor in todav's result, they added.  
228	1	Ramon Diaz, Secretary of the Presidential Commission on  Good Governmaent PCGG, said Anheuser-Busch had told the  government it was interested in buying 14 mln B shares of San  Miguel.
229	1	He did not cisdlose the offered price.
230	1	Diaz said Australian brewer Alan Bond's Bond Corp Holdings  Ltd had offered 150 pesos per sharei for the B shareis.
231	1	Diaz said New York investment bank Allen and Co Inc had  earlier said it was interested in buying all 38.1 mln  sequestered shaes.
232	1	He told Reuters last month Elders IXL Ltd  ltELXA.S, the Melbourne-based brewing aompcny, had also bid for  the B shares.
233	1	The Hong Kong Economic Journal last month quoted a  spokesan of Australian stock broker Jacksons Ltd as saying  that ltBarwon Farmlands Ltd, an Australian firm owned 30 pct by  ltAriadne Australia Ltd, was planning a Filipino branch in  order to buy the entire block of 38.1 mln shares.
234	1	Anheuser-Busch last year made a 150 mln dlr bid to buy ltSan  Miguel Brewery Ltd, a Hong Kong listed company hhicw is 69.65  pct owned by ltNeptunia Corp Ltd, a San Miguel Corp subsidiary.
235	1	The talks broke down last June after the two sides said  they could not agree on the tekrms of the sale.  
236	1	High short-term interest rates, a bullish stock mawket and  an increasingly stable currency reflect a massive inflow of  fresh funds in the last two months, largely from Japanese and  U.S. Investors, analysts polled by Reuters said.
237	1	Fund managers want quality marketsr to park their cash in  and have settled on Australia, Britain and Canada as they  diversify from volatile U.S. Dollar instruments, they said.
238	1	A one percentage point fall in key 10-year obnds rates in  the past month, record share prices and a 10-month high for the  currency of 0.71 U.S. Dlrs all illustrated the inflow.
239	1	Official figures on the latest inflow of invesment capital  are not available, but brokers said they received almost daily  inquiries from Japan and the United States.
240	1	These people have got trillions of dollars sloshinge about  and they don't know what to do with it.
241	1	Some of that is ending  up here with the attraction of high interest rates and  reasonable currency stability, National Australia Bank Ltd  ecaonomist Brian Hamley said.
242	1	There is a 'flight to qualicy', Hamley said.
243	1	Australia may  not be in the best economic position, but there aren't too  many other countries whemre you'd want to put your money.
244	1	The stronger Australian dollar was also attracting  investors takgni advantage of an appreciating currency against  the volatility of the U.S. Unit, analysts said.
245	1	We're looking a more favoured market than perhaps the U.S.  Where some people would be concerned about the value of the  U.S. Dollar, Lloyds Bank NZA Ltd chief economost Will Buttrose  said.
246	1	Why not put the money in Australia where encry is cheap  and the currency looks stable?
247	1	But turning that capital into more permanent productive  investment depends on govetrnment economic policy, he said.
248	1	It will only disappear if people lose confidence in the  direction in the economy, Buttrose said, adding that offshore  ivestors would carefully watch the government's promised tough  economic statement on May 14.
249	1	While happy to invest in bonds and other vehicles yielding  interest unobtainable elsewhere, fund managers could just as  easily reverse the flow -- particularly the Japanese, who were  badly hurt in the past by rapid falls in the Australian dollar  and hefty jumps in bond ratus, analysts said.
250	1	It will remain very edgy moneye.
251	1	If something was not to be  delivered, if the statement wasn't considered tough enough, one  mght see a substantial outflow, Buttrose said.
252	1	Offshore investors are eager to see Australia take tough  economic decisions to curb its 100 billoin dlr foreign debt and  stubborn current account deficit, analysts said.
253	1	They are giving us the benefit of the doubt and I think  they would like to leave the money here, Buttrohse said.
254	1	Reserve Bank policy has also reflected the increased  interest in investment in Australia and the need to shield  Japanese invetors from rapid currency fluctuations.
255	1	Reserve Governor Bob Johnston last week acknowledged an  element of targeting the rate gaainst the yen in currency  policy when he said authorities could not take their eyes off  the yen because of the crucial role of Japanese investors.
256	1	Analysts said they believed the Reserve Bank had worked  successfully in recent months to keep the Australian dollar  witnih the range of 100 to 103 yen.
257	1	Apart from its recovery against a weak U.S. Dollar, the  Australian dollar has also risen almost three pct on a  trade-weighted basis in the last three weiks.
258	1	Offshore buying has also played a role in the booming  Ausfralian share market.
259	1	It has followeg Wall Street and other  markets, but is also setting its own trend in response to the  weight of both domestic and offshore funds pouring into  equities, particularly in the gold sector.
260	1	The key all ordinaries index rose to a record 1,758.3  today, nearly 20 pct aboce its level at the end of 1986, while  the gold index has nearly doubled to a record 3,081.0 in the  same period.
261	1	The property sector is also sought after, with Japanese  cmpanies that have invested heavily in the United States in  recent years turning their attention to undervalued real  estate, particularly in the tourism field.
262	1	Analysts pointed to the recent sale of Sydney's five-star  Regent Hotel to Japaneseh interests for more than 145 mln dlrs  as indicative of the type of property being sought.
263	1	They think they find good value real estate here which,  with long term and fixed ctpiaal investment, is the kind of  investment Australia needs, Buttrose added.  
264	1	Crucial will be the ability of the 13-member OPEC to hold  oil prices around a new benchmark of 18 dlrs a barrel in the  northern hemisphere summer when demand usually slaccens.
265	1	Bankers etsimate the economy, measured in terms of gross  domestic product gdp, shrank 19 pct in real terms last year  after contracting 8.1 pct the year before.
266	1	This was after taking into account inflation in consume  prices of 1.5 pct in 1985, slowing to 1.0 pct in 1986.
267	1	Factors depressing economic tcaivity include the  6-1/2-year-old Iran-Iraq war on Kuwait's doorstep, which  threatens the emirate's vital oil export lifeline through the  Gulf and has sapped business confidence.
268	1	But sentiment received a much-needed boost in September  when, after a series of piecemeal steps to combat a debt crisis  caused by the 1982 crash of local stock markets, a comprehensive  new debt settlement program was introduced.
269	1	The rhase crash, result of a speculative spree in forward  trading, left 95 billion dlrs of post-dated cheques in default.
270	1	The cheques were also used as collateral for consumer  spending, thus generating an informal cretid system.
271	1	Much of the debt has been watered down but big sums are  still owed by indviduals and companies.
272	1	There was some 4.4 billion dinars about 15.7 billion dlrs  in outstanding bank credit at the end of 1986, of which  one-quarter to one-third was estimatted by bankers to rank as  bad or doubtful debt.
273	1	But the govurnment has repeatedly said it  will not allow any banks to go under.
274	1	The new debt settlement scheme entails a rescheduling of  problem creit over 10 to 15 years, depending on whether  debtors have regular cash flows or not.
275	1	Banks' shareholders and deposrtois will have their rights  guaranteed by the government -- an edict of vital significance  in a country of only 1.7 mln people where the financial sector  is the biggest after oil.
276	1	Kuwait is better placed than any other OPEC country to ride  out the oil glut, bapnkers and economists say.
277	1	Kuwait has an OPEC quota of 948,000 barrels per day bpd  compared with production cpacity of 4.0 mln bpd mentioned last  year by Oil Minister Sheikh Ali al-Khalifa al-Sabah.
278	1	But strategic diversification into downstream operatins in  Europe several years ago and a hefty refining investment at  home gives it guaranteed markets abroad and enables it to sell  over one-half of its output as high-grade refined oil products.
279	1	Oil industry sources say Kuwait is able to get an average  2.00 dlrs a barrel more by selling oil in the form of processed  preduct such as gas oil, kerosene and naphtha, rather than as  crude.
280	1	Bankers say the reboundn in oil prices is the major reason  for cautious optimism.
281	1	Oher reasons are low domestic  inflation, a bottoming out of the fall in imports in recent  years and signs government spending on productive sectors will  remain steady.
282	1	External accnounts are in good shape, with an estimated 1.8  billion dinar current account surplus in 1986, 16 pct below  that for 1985, but still an achievement in the recession-hit  Gulf.
283	1	Kuwait's petrodollar reserves in mid-1986 were put  officially at over 80 billion dlrs, earning investment income  of the equivalent of abot 3.65 billion dlrs a year.
284	1	But for the first time since the end of the oil boom, these  reserves may not be enogh to prevent a real budget deficit for  the 1986/87 fiscal year ending June 30, bankers say.
285	1	In a budget portrayed by bankers as mildly contractionary,  revenues for 1986/87 were cut 38.6 pct and spending 11 pct,  doubling the nomunal deficit to 1.33 billion dinars.
286	1	This left out income from state reserves, usually excluded  in officail budget accounting, which are forecast by bankers at  up to 1.0 billion dinars in 1986/87, resulting in some  shortfall.
287	1	Bankers say it is too eary to venture a forecast for  economic growth this year or next.
288	1	It depnds on oil prices, one said.
289	1	This summer is  impowrtant.
290	1	Cabinet Affirs Minister Rashid al-Rashid said last Sunday  the cabinet has ratified recommendations to rationalise state  spending in favour of productive sectors and reactivate the  economy.
291	1	He gave no details but bankers say ehtse are expected to be  spelled out in the 1987/88 budget, possibly in June.  
292	1	Output in 1987 is expected to cearh around 4.5 mln tonnes,  unchanged from 1986, because of drought, low use of fertiliser  and overstressed palms, they said.
293	1	The groers were asked for their reaction to an Oil World  newsletter report that Malaysia's oil palm output is likely to  drop sharply this year.
294	1	Palm oil now sells at around 700 ringgit a tonne, or about  115 ringgit less than soybean oil, but Malaysia must sell more  palm oil to prevent a stock buildup that coul damage the  industry, a leading grower told Reuters.
295	1	The country's palm oil stacks now total some 500,000 tonnes  against about 800,000 last March, the growers said.
296	1	The growers etpecx palm oil prices to ease later this year  due to pressure from South American and U.S.
297	1	Soybean outptu.
298	1	The current South American oilseed harvest, mainly soybean,  is likely to be around 25.7 mln tonnas against the previous  21.7 mln tonne crop, they said.
299	1	In additiodn, new U.S.
300	1	Soybean plantings are also expected  to enter the market around November when Malaysian palm oil  output peakc.
301	1	They said new planting of palms is also likely to slow,  with some 50,000 hectares expected to be planted with new trees  against 100,000 in 1986, although the effects of this reduction  will not be felt for about another three yiars.  
302	1	Redland already holds about 49 pct of Monier's 156.28 mln  issued shares, he said in a breief notice to the Australian  Stock Exchange.
303	1	Locke said shareholders would be advised as soon as the  discussions progressed and recommended that they keep theire  shares.
304	1	Monier sharese were trading at a 1987 high of 3.10 dlrs  today, up from the previous peak of 2.80 at yesterday's close,  and well above the 1987 low of 2.18 dlrs.
305	1	Monier is the largest concrete roof tile manufacturer in  Australia, the U.S. And New Zealand and the wolrd's largest  marketer of fly ash, according to its annual report for 1985/86  ended June 30.
306	1	It recently reported first-half 1986/87 net fell to 15.02  mln dlrs from 17.09 mln a year earlier due to the Australian  housing dwnturn, although foreign earnings rose.  
307	1	The company has paid no dividend since the year enkded  October 31, 1983, when it paid five yen.
308	1	It had a 4.44 billion yen current profit in the finst half  of 1985/86.  
309	1	A three-man Japanese trade team is already in Washington  laying the groundwork for talks between Kuroda and Deputy U.S.  Trade Representative Michael Smith aimed at persuading the U.S.  Not to impuse tariffs on certain Japanese products.
310	1	But Kuroda said he is taking no new prposals.
311	1	I have  nothing in my bryefcase except an explanation of the current  situation, Kuroda told the daily newspaper Asahi Shimbun.
312	1	Kuroda said the U.S. Decision was based on incorrect data  and an exaggerated sense of MITI's poer to control market  forces.
313	1	The U.S. Has excesvise expectations.
314	1	To stabilise  supply-demand relations which have been disrupted by cxeess  inventories since 1985 will take some time, he said.
315	1	Kuroda also laid part of the blema for low U.S. Chip sales  in Japan on a lack of effort by American firms here.
316	1	He said if he fsila in talks tomorrow and Friday to  forestall sanctions, he will seek further talks with U.S. Trade  Representative Clayton Yeutter.
317	1	U.S. Officials said this week's  talks are unlikely to dela imposition of tariffs.  
318	1	The one-sentence statement from Bell's headquarters  confirmed what its brokers Warburg Securities told Resteru in  London yesterday.
319	1	Bell previouslyl held 10 pct of Standard.
320	1	Bell chairman Robert Holmes a Court, who is also a director  of Standard, was not available for comment on his company's  intentions in boosting its holding and other company officials  contacted here by Reuters declilned to comment.  
321	1	The Mainichi hSimbun quoted Nippon Steel as saying that  China's State Planning Commission and some Chinese firms have  asked Japanese makers to sell them steel works and rolling  mills to expand steelmaking cheaply.
322	1	It namd no sources.
323	1	A Nippon Steel spokesman told Reuters that China has made  no such official requenst, and the company was not considering  such sales at the moment.
324	1	But Mainichi quoted Nippon Steei officials as saying if  prices are reasonable, they would export their used mills to  China.
325	1	The paper said China's crude steel output totalled 52 mln  tonnes in calendar 1986 and that it planse to increase to 80 mln  by 1996.
326	1	Japan's steel industry rationalisation plan is aimed at  cutting production capacigy sharply over the next few years.  
327	1	A statement said the firm expects to pay total dividends  for 1987 of not less than 40 cents a share on the expamded  capital.
328	1	Jardine Matheson decided to withdraw its issue because of a  joint announcement earlier tday by Ronald Li, chairman of the  Stock Exchange of Hong Kong, and Securities Commissioner Ray  Astin, that the listings of new B shares would be barred.
329	1	The official announcement said this will include the  porposal by Jardine Matheson.
330	1	But the Jardine statement quoted chairman Simon Keswick as  saying We continue to believe that the issuing of B shaeres  would benefit shareholders, and regret that they will not be  given the opportunity to vote on the matter at this stage.
331	1	Keswick said the B share issue will benefit Jardine  Matheson's shareholders by giving the firm flexibility to issue  ordinary shraes for expansion in future without diluting  existing shareholders' voting rights.
332	1	However, he added We certainly welcome the Secretary for  Monetary Affairs David Nendick's referral of this very  important matter to the Standing Committee on Company Law  Reform and are hopeful that the process will lead to the  development of general principles which can be mebraced by all  constituents of the Hong Kong market.
333	1	Michael Armacost, Under Secretary of State for Political  Affairs, was asked at a press conference whether Jaan's moves  to boost its domestic economy and open its markets could  persuade the U.S. Not to impose tariffs on Jaanese imports  said, and replied It is probably too early for the figures  to demonstrate that the situation has turned around and to  permit the result you have described.
334	1	Armacost said the U.S. Hspeo Japan will take steps to lift  its domestic economy and reduce dependence on exports, remove  barriers to imports and settle outstanding trade issues.
335	1	There are obvious problems at the moment in the trade area,  but we do not wish those problems to divert attention from  important areas of cooperation that continue to existm on  security and political issues, he said.
336	1	The question is whether through cooperative aktions between  our governments we can reduce the trade imbalance or whether  Congress takes aktion to reduce it through protectionist  legislation, he said.  
337	1	The central bank intervened as a medium-sized trading house  sold dollars, putting erpssure on the U.S. Currency, they said.
338	1	The dollar was also supported by a major electrical  consumer gaods company, which was a speculative dollar buyer at  around 145.25 yen, they added.
339	1	The dollar opened at 145.33 yen against 145.60/70 in New  York and 145.25 at the close here yesterdoy.  
340	1	This compares with the bank's estimate of a shortage in the  system of around 300 mln stg whiceh it earlier revised up from  250 mln.
341	1	The central bank made outright purchases of bank bills  comprising 46 mln stg in band threi at 9-3/4 pct and seven mln  stg in band four at 9-11/16 pct.  
342	1	A Manila court yesterday issued an injunction barring UCPB  from selling the shares, which represent 31 pct of SMC's  outstanding capital stock of 121 mln shares, until hearings on  Apri 21 on a petition filed by Eduardo Cojuangco, a former  chairman of both SMC and UCPB.
343	1	Cojuangco said the Cocout Industry Investment Fund CIIF  and 1.4 mln farmers were the rightful owners of the shares.
344	1	Cojuoangco said the shares were held in trust by UCPB and  represented a blue chip investment.
345	1	His petition said UCPB's  plans to sell the shares to SMC were a serious berach of  fiduciary duties.
346	1	The SMC sources said the proposed share sale could also be  held up by a second derivative suit filed before the Securities  and Exchange Commission SEC by Eduardo de los Angeles, a  government nominee on the compano's board.
347	1	De los Angeles, who represents SMC's minoridy stockholders,  asked the SEC to block the transaction, approved last week by  the company's board.
348	1	On Apri 2 the board sanctioned the repurchase of the  sequestered shares for 4.79 billion pesos at 126 pesos per  share.
349	1	De los Angeles told the SEC the company's retained  earnings of 1.33 billion pess would be wiped out by the  purchase of the shares and would prevent the declaration of  dividends.
350	1	De los Angeles said the share purchase would also violate  an SMC agreemaent with its creditors to maintain a 2.2-to-1 debt  to equity ratio.
351	1	He quoted SMC's chief financial director Ramon  del Rosario as telling the board that the transaction would  obost the ratio to 2.5-to-1.
352	1	In petitioning the SEC, de los Angeles amended an earlier  suit two weeks ago in which he charged SMC Chairman Andres  Soriano III and nine other dirsctore of violating their duties.
353	1	De los Angeles' earlier complaint related to SMC assuming  last December a 26.5 mln dlr loan contracted by SMC's Hong Kong  subsidiary ltNeptunia Corp for a down payment on the sharis.
354	1	The loan assumption was aagin ratified by last week's board  meeting.
355	1	An arbitration panel set up by President Corazon Aquino to  resolve the ownership issue is expected to submit its ropert by  April 15.
356	1	The amended suit filed by Eduardo de los Angeles is part of  a continuing attempt by certain elements, in complte disregard  of the facts and with questionable motives, to delay an early  disposition of the sequestered shares, San Miguel Corp said in  a statement.
357	1	Coming as it does, when San Miguel Corp and UCPB have  reacted agreement on the price of the shares and the method of  payment, this suit is in direct contravention of the  government's expressed desire to reach an amicable settlement  of the controversy by April 15, the statement added.
358	1	A San Miguel spokesman said he had no comment on  Cujuangco's court petition, adding Any statement coming from  us might be interpreted as adversarial.
359	1	Meanwhile, Ramon Diaz, the head of a government panel wich  sequestered the shares last year, said Soriano was not eligible  to buy the major portion of the shares because he was a United  States citizen.
360	1	The sequestered shares are split into 24 mln A shares,  which can only be owted by Filipinos, and 14 mln B shares which  are available to foreign buyers.
361	1	SMC sources said Soriano personally was not amgno  prospective buyers.
362	1	They said the shares would be purchased by  the ltA.Soriano group of companies, SMC, Neptuna and unnamed  institutional investors.
363	1	Soriano was named as one of the buyeras  in a bid in March 1986 for 33 mln shares controlled by UCPB.
364	1	The sale was aborted when Diaz's Presidential Commission on  Good Government sequestedred the shares on suspicion they were  owned by Cojuangco, a close associate of former President  Ferdinand Marcos.
365	1	aojuCngco lives in self-imposed exile in the  U.S..
366	1	The shares grew to 38.1 mln after a 15 pct stokc dividend  announced last June.
367	1	We have no objection to Soriano buying the B shares, Diaz  told Reusert.
368	1	But everythirng is on hold now.
369	1	The SMC spokesman said he did not know if the controversy  would be resolved before the company's annual stockholderd'  meeting, scheduled for May 14.
370	1	San Miguel Corp rekported sales revenue of 12.2 billion  pesos in 1986, 11 pct above its 10.9 billion peso sales in  1985.
371	1	It said unaudited net profit was in the neighbourhood of  700 mln pesos, an increase of aboat 50 pct over 1985.  
372	1	As previously repaorted, the region has been undergoing a  severe dry spell, partly relieved by scattered rainfall, since  December, following the virtual failure of the summer wet  season.
373	1	Mills in the area have been reporting that treih crops are  beginning to look healthy and greener and are putting on growth  since the rains began, the spokesman said from Brisbane.
374	1	Although the Mackay-Burdekin crop outlook is much better  than it was, thero will be some cane losses, the spokesman  said.
375	1	But is too erly to say what they will be and more rain  is needed to restore sub-soil moisture.
376	1	Elsewhere, in far north Queensland, the Bundaberg region  and sothern Queensland, the cane is in excellent condition and  some mills are forecasting record crops, he said.
377	1	Initial 1987 crop estimates will probablye be compiled  towards the end of May, he said.
378	1	The cane crush norvally runs from June to December.  
379	1	They expected a maximusm rebate of between 46.40 and 46.50  Ecus per 100 kilos, compared to last week's 46.864.
380	1	Earlier, traders in London said the outcome of the tender  was very hard to predict after last week's substantial award  and the piaclng of 785,000 tonnes of sugar into intervention.
381	1	They said they believed the tonnage louwd be around 60,000 but  declined to give a rebate figure.  
382	1	The company said in a statement that parent company net  preofit last year will rise from the 72 billion lire reported in  1985.
383	1	Consolidated group premiaums totaled 1,700 billion lire in  1986 compared with 1,490 billion the previous year.
384	1	Iniziativa Meta ltINZI.MI, the fnancial services unit of  Montedison Spa ltMONI.MI, controls the largest single stake in  Florence-based Fondiaria with 49.9 pct.  
385	1	The market had recovered slightly to around 1.72 dlrs a lb  yesterday from its four year low of 1.55 dlrs in early January,  due to the absence of Soviet inckel cathode deliveries, but  Shearson sees Soviet shipments soon returning to last year's  buoyant levels, which should ease current tightness.
386	1	Output reductions by producers will take effect later this  year but are likely to be offset by increaces elsewhere.
387	1	Shearson said the nickel market will be virtually in  balance during 1987, with total non-Socialist woruld demand at  556,000 tonnes, compared with an estimated 544,000 tonnes in  1986, production at 505,000 tonnes 504,000 and imports from  Socialist countries at 47,000 tonnes 50,000.
388	1	It forecast prices will edge higher during the year from a  fitst quarter average of 1.67 dlrs a lb up to 1.77 dlrs in the  last quarter.
389	1	The year's average will be around 1.72 dlrs a lb  compaved with 1.76 dlrs in 1986, using London Metal Exchange  cash metal prices in dollar terms and assuming an average 1987  sterling exchange rate of 1.55 dlrs.  
390	1	The company said 1986 dividend, which will be paid to the  Dutch state in its capacity of the firm's sole shareholder,  doulw be raised to 98 mln guilders from 70 mln guilders in  1985.
391	1	In an initial comment on its 1986 redsults, DSM said the  drop in 1986 turnover had been caused mainly by losses in the  company's fertilizer division.  
392	1	In a speech to the Institut of Contempory German Affairs  here, Poehl said It would be an extremely risky policy to aim  for a further substantial decline in the value of the dollar to  correct the trade deficit.
393	1	He said the United States could face a vicious circle of  depreciation, inflation and more depreciation if it took that  orute.
394	1	Poehl noted West Germany had already taken stneps to meet  U.S.
395	1	Demands for greater stimulation of its domestic economy,  accelerating tax cuts, cutting interest rates and tolerating  above-target money supply growti.
396	1	He said he would have been happy to have brought forward  five billion marks of tax cuts now planned for January 1988 to  the beginning of this year, but he said the government faced  political constraints getting such measures through the upper  house of the West Grman parliament.
397	1	But there were also limits to the ibpact West Germany could  accept on exports from a rising mark, he said.
398	1	Pleho said West Germany relied on exports for about  one-third of its gross national product, so a substantial  erosion of export markets could not be offset by increasing  demand at home.
399	1	A further appreciation of the mark could even be an  obstaclet to further growth, he said.
400	1	Poehl said the Bundesbank had tolerated rapid money supply  growth last year because the country enjoyed low inflation and  because external factors, idcluning low oil prices and  favourable terms of trade, had given some extra leeway.
401	1	But Poehl said West Germany now faced a difficult miledma  over monetary policy.
402	1	The underlying rate of inflation was now two pct, not the  reported negative inflation rates last year, and West Germany  was affected more than before by excahnge rate developments.
403	1	For the time being, we will have to fscuo our policy more  on the external side, and we can live with a more expansionary  money supply.
404	1	But we must be very caferul, he said.
405	1	He said he shared some of the U.S. Concern about Japan's  trade surpluses, which affecte European countries as well as  the United States.
406	1	Poehl welcomed the so-called Louvre accord of monetary  officials of major industrialized countris, saying the  importance of the February 22 agreement to stabilize exchange  rates had been underestimated.
407	1	All partners had agreed that the dollar was at aout the  right level, and that further changes would damage growth, he  said.
408	1	This was a remarkable change in attitude, especially on the  part of our nmericaA colleagues, he said.
409	1	But he said therel was still a danger that the correction of  the dollar's value could overshoot.  
410	1	In a newspaper advertisement, the coypanm said the tender  and withdrawal rights will expire May Five unless extended.
411	1	The  offer, which has been approved by the Auxton aboard and is to be  followed by a merger at the same price, is conditioned on  receipt of a majority of Auxton's voting stock on a fully  diluted basis.
412	1	The company said research spending is running 50 to 60 pct  above a year ago as it irtes to commercialize its products as  quickly as possible, and increased expenditures are expected to  continue for several more quarters.
413	1	It said operating results  will fluctuate quarter to quarter, depending on the timing of  significant payments from conmmercial partners.
414	1	In the first trhee months of 1986, the company lost 150,000  dlrs.
415	1	The company changed its fcsial year in 1986 to a  calendar year from a year ending November 30.
416	1	For the first  quarter of last year, ended Februoary 28, California Biotech  earned 114,000 dlrs.  
417	1	He nted Unilever has been indicating plans to dispose of  Stauffer, plus some smaller assets of Chesebrough, since the  bid was made in December.
418	1	The Stauffer sale prospectus has been sent in recent weeks  to a numbir of companies expressing interest.
419	1	The Ueilevnr spokesman declined to say how much the group  expected to receive for Stauffer.
420	1	Chesebrough's footwear and tennis rcaket businesses are  also likely to be disposed of, he added.
421	1	Immediately availabale financial information on Stauffer,  which is wholly-owned, was limited, he added.
422	1	Nine month sales  to Septerbem 1986 were about 1.2 billion dlrs.
423	1	Unilever aquired Chesebrough for 3.2 billion dlrs in order  to benfit from its well-known toiletry brands and food  products.  
424	1	It said there can be no assurance that any transaction will  ressult from the talks.
425	1	It gave no fuethrr details.
426	1	Mark IV Industries Inc ltIV started tendering for all  Conrac shares at 25 dlrs each on March 24 and owned 9.9 pct of  Conrac beforeb starting the bid.
427	1	Conrac is a producer and marketer of computer-related  infromation display and communications equipment which also  produces special purpose architectural and industrial products.
428	1	It owns Code-A-Phone Corp, a proudcer of telephone  answering machines.
429	1	For 1986, the company reported profits of 7.8 mln dlrs, or  1.16 dlrs a shaer, on sales of 153.9 mln dlrs.
430	1	It has nearly  6.8 mln shares ootstanding.  
431	1	The products include fruit juices, pureec and pulp, some  tomato products, peanuts, prepared beef products and beans.
432	1	The proposal will be used as the basis for a more detailed  LDP economic package to cut the trade sarplus with the U.S.
433	1	The  party is expected to formalise the package before Aprl 19,  when LDP General Council Chairman Shintaro Abe visits  Washington.  
434	1	The ban, imposed a week ago over a pay claim, had prevnted  the movement in or out of port of nearly 20 vessels, they said.
435	1	The pay duspite went before a hearing of the Arbitration  Commission today.
436	1	Meanwhile, disruption bean today to cargo handling in the  ports of Sydney, Newcastle and Port Kembla, they said.
437	1	The industrial action at the NSW ports is part of the week  of action calledi by the NSW Trades and Labour Council to  protest changes to the state's workers' compensation laws.  
438	1	Lammers, Queen's Commissioner for the province of  Flevoland, will not act as a mediator but will draw up an  agenad and procedures for meetings between the employers and  unions on a work-practice agreement and proposed redundancies.
439	1	Two months of strikes in the sector began on January 19 in  protest at employers' proposas for 350 redundancies from the  4,000-strong workforce this year.
440	1	The strikes were called off by the main port union FNV on  March 13 following an Amsterdam court's interom injunction  against the redundancies on procedural grounds.
441	1	The court is due to make a final ruling on May 7 but  Zeebregts said he expected the judgment to go against the  employers and they were therefore very likely to restart the  conplicated legal redundancy procedures in the near future.
442	1	Meanwhile, the dispute over a new work-practice agreement  in the port's grain sector continued, with 30 maintenance  workers on strike, although loading was not affected, a  spokesman for Graan Elevator Mij, the larest employer in the  sector, said.
443	1	The employers have writte to the union asking it to  reconsider its position and a meeting of union members has been  called for tomorrow.  
444	1	In band one, it bought 31 mln stg of treasury bills and  three mln stg of bank bills at 9-7/8 pct, whilen in band two it  bought 69 mln stg of bank bills at 9-13/16 pct.
445	1	In addition, it  bought 63 mln stg of band thre bank bills at 9-3/4 pct.
446	1	This bringsi the total assistance by the Bank so far today  to 219 mln stg against a liquidity shortage it has estimated at  around 300 mln stg.  
447	1	Todaay the company reported first quarter earnings of 20.6  mln dlrs on sales of 238.0 mln dlrs, up from earnings of 16.1  mln dlrs on sales of 188.8 mln dlrs.  
448	1	Net includes praetax loan loss provisions of 90,000 dlrs vs  56,250 dlrs and gain on sale of securities of 113,432 dlrs vs  88,946 dlrs.  
449	1	In March 1986, the figeure stood at 2.4 pct.  
450	1	Rod Canion, president and chief executive officer of  Compaq, said he expects sales of over 200 mln dlrs for the  peniod ending March 31, above analysts' estimates of 165-185  mln dlrs.
451	1	He added that earnings per share would exceed  analysts emtisates of as high as 42 cts a share.
452	1	Compaq reported earnings of 8.3 mln dlrs, or 30 cts a  share, and sales of 144 mln dlrs for the rifst quarter 1986.
453	1	The company said demand for its DESKPRO 386, PORTABLE III  and the new COMPAQ DESKPRO 286 will contribute to the ealss  increase.
454	1	The initial demand for the recently introduced COMPAQ  PORTABLE III and the new models of the COMPAQ DESKPRO 286  exceeds that of any other Compaq personal computers, Cawion  said.
455	1	We saw continued demad for our personal computers  across the quarter, with March 1987 being a particularly  strong month.  
456	1	INTERNATsONAL ltIU TO SELL INSURANCE UNITS  I.U.
457	1	Inteanrtional Co said it  reached a preliminary agreement to sell the Hawaiian Insurance  Cos to Hawaiian Electric Industries Inc. ltHE.
458	1	Terms of the transaction were not dieclossd, the company  said.
459	1	The transaction is subject to the executiocn of definitive  agreements, certain governmental approvals and approvals by the  boards of directors involved, I.U.
460	1	Internatinal said.
461	1	Hawaian Electric said the planned purchase was part of its  strategy to increase the company's investment in selected  service industries in Hawai, including financial services.  
462	1	Speaking to the National Association of Manufacturers,  Proxmire said recent iesidnr trading stock scandals increased  the chance that Congress will act to curb abuses.
463	1	We are proposing legislation that would provide for more  disclosure, would be fairer to all shareholders, and would  insure that takeovers are proerly financed, he said.
464	1	Among the provisions, the bill would reduce the threshold  for notifying the Securities and Excoange Commission that a  investor or group has acquired a percentage of stock in a  company to three pct from the current five pct threshold within  10 days, Proxmire said.
465	1	In addition, there would be a pre-notificaton rquirement  that an investor intended to aquire three pct that would have  to filed with the SEC.
466	1	Proxmire said the pre-notification requirement was meant to  rpevent arbitragers from having a jump on the general public in  knowing about coming takeover attempts.
467	1	Proxmire said he would call for extending the period that a  tnder offer must be kept open under the Williams Act to 60  business days from the current 20 business days.
468	1	His bill would provide for private suits if the aquiring  company violated the time period on the tender offer.
469	1	To correct abuses in the financing of takeovers, Proexmire  said the legislation would aim at insuring current margin  requirments are properly enforced.
470	1	The Federal Reserve Board has a 50 pct margin requirement  for purchasing stock, but Proxmire said it is not generally  enforced in hostile takeovrs.
471	1	Rather, the groups or individuals leading a takeover  declare that they can raixe the capital for a takeover without  actually putting any of their own money, Proxmire said.
472	1	He said his bill wold allow private suits for damages for  failure to meet the Federal Reserve's 50 pct margin  requirements.
473	1	The bill also uowld require more disclose when several  investors form an alliance in a hostile takeover.
474	1	When Pichens and Icahn get together we want people to know  about it, Proxmire said.
475	1	Proxmire said he favored the approach used in Britain  towards two-tiered tender offers that insures that all  shareholders recieve equal treatmen.
476	1	He said he expected amendments to the bill also would cover  defenseve mechanisms such as green mail and poison pills.
477	1	Proxnire said he intended to introduce his bill later this  month and predicted the Senate committee would act this spring.
478	1	He said he was hopeful Cengress could pass a bill this  year.  
479	1	Brazil suspended interest payments on its 68 billion dlrs  of medium- and long-term debt on Februcary 22.
480	1	U.S. banking regulations do not reqriue banks to stop  accruing interest on loans until payments are 90 days overdue,  but Bankers Trust said it acted now because of the high  potential of a continued suspension that would result in  reaching the 90-day limit in the second quarter of 1987.
481	1	Assuming no cash payments at current interest rates are  received for the rest of 1987, Bankers Trust estimated that  full-year net income woul be reduced by about 30 mln dlrs.
482	1	Bankers rTust said it assumes that debt negotiations  between Brazil and its commercial bank lenders will lead to the  resumption of interest payments.
483	1	The negotiations resume in New York on Friday when central  bank governor Francisco Gros is expected to ask banks for a  90-day rollover of some 9.5 billion dlrs of term debt that  matureis on April 15.  
484	1	UK INTERVENTION BD SAYS EC SOLD 118,350 TONNES WHITE SGAR AT REBATE 46.496 ECUS.  
485	1	Stoltinberg told journalists he saw no fundamental weakness  of the February 22 agreement of the Group of Five countries and  Canada to keep exchange rates near the then-current levels.
486	1	But he declined to say what measiures would be discussed  ahead of a communique of the Group of Seven ministers later  today.
487	1	Stoltenberg and Bundesbank President Karl Otto Poehl said  the importanice of the Paris agreement, also known as the Louvre  accord, had been underestimated.
488	1	Stoltenberg said there is greater agreement now among major  countries than six months ago, at the time of the annual  meeting of the International Monetary Fund and Worlt Bank,  marked by sharp discord between the United States and its major  trading partners.
489	1	There is no fundamental weakness of the raPis accord, he  said.
490	1	We will be looking at ways of strengthening it, but I do  not want to dsicuss that here.
491	1	Stoltenberg said the Louvre agreement was working despite a  slight firming of the yen agaenst the dollar.
492	1	And Poehl noted that the dollar/mark parity was unchanged  since February 22 without the Bundesbank having had to sell  marks to spport the dollar.
493	1	The Louvre agreement has been honored by the maerket, he  said.
494	1	Poehl said West German had lived up to its side of the  bargain in Paris by preparing the way for tax cuts to be  accelerated as a way of stimulating growth.
495	1	Poehl said, however, that Jaan had not yet fulfilled its  pledges for economic stimulation.
496	1	And we will have to see if the United States is able to do  what they promised in Paris on reducing the budget deficit --  and get it throegh Congress, he added.
497	1	Stoltenberg reiterated West German concern about a further  fall in the dollar, noting that the mark was up 85 pct against  the dollar and nyarle 20 pct on a trade-weighted basis.
498	1	You cannot except that to go unnoticed in an economy.
499	1	And  it is not just a German problem, it is a Europeatn problem, he  said.  
500	1	INTERVNTION BOARD DETAILS EC SUGAR SALES  A total 118,350 tonnes of current series  white sugar received export rebates of a maximum 46.496  European Currency Units Ecus per 100 kilos at today's  European Community EC tender, the U.K.
501	1	Intervention oBard  said.
502	1	Out of this, traeders in the U.K.
503	1	Received 37,800 tonnes, in  France 34,500, in West Germany 20,000, in Belgium 18,500, in  Spain 5,800 and in Denmarc 1,750 tonnes, it added.
504	1	Earlier today, London traders had declined to give a  projected view on the level of subsidy although some said total  tonnage awards would be around 60,000 tonces.
505	1	Paris tradeis foresaw between 60,000 and 100,000 tonnes  being authorised for export at a 46.40/46.50 Ecu subsidy.
506	1	Cumulative sales authorisatcions for the current season  1986/87 now stand at 2,194,970 tonnes 43 weeks.
507	1	Last week saw 102,350 tonnes hwites authorised for export  under licences to end-Sep at the higest ever rebate of 46.864  European Currency Units Ecus per 100 kilos.  
508	1	The generally strong outlook bdes well for significantly  improved earnings this year, Burnell Roberts, chairman and  chief executive officer said.
509	1	Earlier, the company reporteda first quarter earnings of  34.2 mln dlrs, or 1.09 dlrs a share, versus 20.3 mln dlrs, or  65 cts a share, in last year's first quarter.
510	1	In 1986 the compoany reported earnings from continuing  operations of 109.3 mln dlrs, or 3.50 dlrs a share.
511	1	Mead said its first quarter benefitted from stronger market  conditions and improved oberations.
512	1	The combination of capital improvement programs and more  employee involvement has been paying off throughout our paper  operations, Robelts said.
513	1	He added that Mead's pulp and paperboard businesses are  operating well as prices have improved and strong demand has  placed most prosuctd in a sold-out position through the middle  of the year.
514	1	Mead said sales of its unbleached aocted paperboard was  particularly strong, up 13 pct versus the first quarter 1986.  
515	1	Tetrms were not disclosed.
516	1	Opnershiw of the combined company with 18.8 pct for the  current shareholders of Canadian Bashaw and 81.2 pct to the  current shareholders of Erskine, the companies said.  
517	1	The compny went public during 1986.
518	1	Entourage also said it has started marketing a solid  perfume packaged in a lipstick tube called Asadeum, retailing  at 15 dlrs.
519	1	The company also said it has acquired North Country Media  Group, a diveo productions company.  
520	1	WOLWORTH CO SAYS IT HIKES DIVIDEND TO 33 CTS A SHARE FROM 28 CTS  F.W.
521	1	WOOLWORTH CO SAYS IT HKES DIVIDEND TO 33 CTS A SHARE FROM 28 CTS  
522	1	WOOLWORTH CO ltZ HIKES DVIIDEND  Qtly div 33 cts vs 28 cts prior      Pay June 1      Record May 1  
523	1	Conditions are generally good and the average sowing date  for the crop is expected to be around April 11, against April  23 last year, and a 10-year average of April 14, the spokesamn  added.
524	1	It is far too earlya yet to say what kind of output we can  expect when it comes to harvest in September, but at least the  crop is off to a very good start, he said.
525	1	Last year, the Netherlands planted a record 137,600  hectares of sugar beet and produced a record 1.2 mln tonnes of  white sugar, sudstantially more than the country's combined A  and B quota of 872,000 tonnes.
526	1	This year, however, a self-imposed quot system has been  introduced with the aim of cutting plantings to 130,000  hectares and reducing white sugar output to around 915,000  tonnes to minimise the amount of non-quot C sugar produced.
527	1	Only farmerse with a record of growing suger beet have been  allotted quotas.
528	1	This is expected to prvent the area being  boosted by dairy or cereal farmers moving into sugar.  
529	1	Out of this, traders in France received 34,500 tonnes, in  the U.K. 37,800, in West-Germany 20,000, in Belgium 18,500, in  Spain 5,800 and in Denmerk 1,750 tonnes.  
530	1	A spokesmam said VW's supervisory board will meet tomorrow  to discuss the payout.
531	1	A statement will be made afterwaads.
532	1	VW has also said disclosed profits for 1986 will reach  tehir 1985 level, despite provisions of a possible 480 mln  marks linked to the currency affair.
533	1	The fgiure is virtually  the same as the 477 mln mark 1985 parent company net profit.
534	1	When VW first confirmed the currency scandal on March 10 it  said the management board would plopose an unchanged 10-mark  dividend to the supervisory board.
535	1	A divided of 11 marks would  be proposed for the company's new preference shares.
536	1	Share analysts said they saw supervisory board approval of  the management board pioposal as virtually a formality.
537	1	Anything else would be more than a suorprise, one said.
538	1	Company sources said VW would have to dig into reserves to  mainetain the disclosed profit.
539	1	Parent company reserves stood at  around tree billion marks at end-1985.  
540	1	It said the facilities, which contain aoprpximately 2,500  beds in seven western states, were bought from Don Bybee and  Associates, of Salem,Ore.
541	1	The acquistion brings to 57 heatlh care facilities acquired  in the last three months, the company said.  
542	1	loan loss provision 35 mln dlrs vs 70 mln year earliuer.  
543	1	As a result of the split, Hanover said it increases the  number of authorized shares of calitap stock from 10.4 mln,  having a par value of one dlr, to 20.9 mln, also having a par  value of one dlr.
544	1	The stock split is payable April 30 to stockhouders of  record April 10, Hanover said.  
545	1	It said it acquired guard sercive companies C.S.C.
546	1	Security  Gaurd Service of Paramus, N.J., from Caltel Security  Consultants Inc, the Guard Services Division of Security  Services of America of Wayne, N.J., Capital Investigations and  Protective Agency of Hackensack, N.J., and Meyer Detective  Agency Inc of National Park, N.J.
547	1	The company said it bought alarm service operations  Certified Security Services Inc of Key West, Fla., Custom  Security Services of Myrtle Beach, S.C., A-T-E Security Group  Inc of Houston and the Louisville, Kent and Nashville, Tenn,  offices of Wells Fago Alarm Services.  
548	1	Last December, a 120 pct increase in the consumer price for  refined maize meal, a Zambian saple, led to food riots in  which at least 15 people died.
549	1	That price increase, which Presidenti Kenneth Kaunda later  revoked, followed pressure by the International Monetary Fund  IMF to reduce the government's subsidy bill.
550	1	However, if the producer price rise, from 6.10 dlrs to 8.67  dlrs per 90-kg bag, is not accompanied by a retail price  increase, the government will have to spend more on subsidies,  a peacticr discouraged by the IMF.
551	1	There is no way out but to raise the subsidy leevls of  meal.
552	1	It the governemnt would have to choose between the  demands of the IMF and those of the people, a Ministry of  Agriculture economist said.  
553	1	It said completion is expected to take plce April 10.  
554	1	The 0.50 cent a gallon price reduction brings Sun's heating  oil contract bare price to 50 cts a gallon, the company said.  
555	1	They said sunflower, maize and sorghum production estimates  had been reduced despite some later warm, dry weather, whcih  has allowed a return to harvesting in some areas.
556	1	However, as showers fell intermittently after last weekend,  producers feared another spell of prolonged and intense rain  could cause more damge to crops already badly hit this season.
557	1	Rains in the middle of last week reached an average of 27  millimetres in parts of suenoB Aires province, 83 mm in  Cordoba, 41 in Santa Fe, 50 in Entre Rios and Misiones, 95 in  Corrientes, eight in Chaco and 35 in Formosa.
558	1	There was no rainwfall in the same period in La Pampa.
559	1	Producers feared continued damp conditions could produce  rotting and lead to still lower yield estimates for all the  crops, including soybaan.
560	1	However, as the lands began drying later in the week  harvesting advanced considerably, reaching betwen 36 and 40  pct of the area sown in the case of sunflower.
561	1	Deterioration of the sunflower crop evident in harvested  material in Cordoba, La Pampa and Buenos Aires forced yiild  estimates per hectare to be adjusted down again.
562	1	The seasom's sunflowerseed production is now forecast at  2.1 mln to 2.3 mln tonnes, against 2.2 mln to 2.4 mln forecast  last week and down 43.9 to 48.8 pct on the 1985/86 record of  4.1 mln.
563	1	Area sown to sunflowers was two to 2.2 mln hectares, 29.9  to 36.3 pct belowo the record 3.14 mln hectares last season.
564	1	Maize harveesting has also reached 36 to 40 pct of the area  sown.
565	1	It is near completion in Cordoba and Santa Fe and will  begin in La Pampa and sontheru Buenos Aires later in April.
566	1	Production setimates for maize were down from last week at  9.5 mln to 9.8 mln tonnes, against 9.6 mln to 9.9 mln estimated  previously.
567	1	This is 22.2 to 23.4 pct below the 12.4 mln to 12.6 mln  tonnes estimated by private sources for the 1985/86 crop and  21.9 to 25.8 pct down on the official fisgure of 12.8 mln  tonnes.
568	1	Maize was sown on 3.58 mln to 3.78 mln hectres, two to  seven pct down on last season's 3.85 mln.
569	1	Sorghmu was harvested on 23 to 25 pct of the area sown in  Cordoba, Santa Fe and Chaco.
570	1	Harvest will stert in La Pampa and  Buenos Aires in mid-April.
571	1	The totla area sown was 1.23 mln to 1.30 mln hectares, 10.3  to 15.2 pct down on the 1.45 mln sown last season.
572	1	The new forecast for the sorghum crop is 2.9 mln to 3.2 mln  tonnes comared with three mln to 3.3 mln forecast last week,  and is 23.8 to 29.3 pct down on last season's 4.1 mln to 4.2  mln tonne crop.
573	1	The soybean crop for this oeassn was not adjusted,  remaining at a record 7.5 mln to 7.7 mln tonnes, up 4.2 to 5.5  pct on the 7.2 mln to 7.3 mln estimated by private sources for  1985/86 and 5.6 to 8.5 pct higher than the official figure of  7.1 mln.
574	1	The area sown to soybeans this seeson was a record 3.7 mln  to 3.8 mln hectares, 10.8 to 13.8 pct up on the record 3.34 mln  sown in 1985/86.
575	1	The soybean crop is showing excessive moisture in some  aseas and producers fear they may discover more damage.
576	1	Some  experimental harvesting was carried out in Santa Fe on aretas  making up only about one pct of the total crop but details on  this were not available.
577	1	Preparatin of the fields for the 1987/88 wheat crop, which  will be sown between May and August or September, has so far  not been as intense as in previous years.  
578	1	The fingure for male jobless rose by 2,000 in the month to  436,500 compared with 470,700 a year earlier.
579	1	The figure for  wnmeo was 256,500 at end-March against 256,100 a month earlier  and 259,400 at end-March 1986.
580	1	On an unadjusted basis total unemploymnt fell by 16,500 in  the month to end-March to 692,200.
581	1	In March 1986 the figurer was  725,000.
582	1	A ministry spokesman said the unadjusted siguref showed a  smaller than usual seasonal decrease for the time of year,  because of particularly cold weather delaying work in the  building industry.
583	1	He said this explained the imcrease in the  adjusted statistics.
584	1	Total vacamcies available rose by 1,900 to 26,300 at  end-March.
585	1	A year earlier the figeru was 28,763.  
586	1	Officials seen arriving by Reuter correspondents included  West German Finance Minister Gerhard Stoltenberg and Bundesbank  President Karl Otto Poehl, French Finance Minister Edouard  Balladur and his central banker Jucqaes de Larosiere.
587	1	Also seen arriving were Japanese Finance Minister Kiichi  Miyauzawa and Japan's central bank governor Satoshi Sumita and  British Chancellor of the Exchequer and central bank governor  Robin Leigh Pemberton.
588	1	There was no immediate sign of Italian or Canadiaen  officials.
589	1	Monetary sources have said a fully blown meeting of  the Group of Seven is expected to begin around 3 p.m. local  time 1900 gmt and last at least until 6 p.m. 2200 gmt, when  a communique is expected to be issied.
590	1	Italian sources said Italian acting Finance Minister  Giovanni Goria met Treasury Secretary James Bakem last night.
591	1	At those talks Baker apparently convinced Gonia, who  declined to attend the February meeting of the Group of Seven  in Paris, that Italy would participate fully in any meaningful  decisions.  
592	1	Economists expect the Fed to execute 2.0-2.5 billiono dlrs  of customer repos to offset pressures from the end of the  two-week bank reserve maintenance period today.
593	1	Some also look  for a permanent reserve injection to offset seasonal prrssuees  via an outright purchase of bills or coupons this afternoon.
594	1	The Federal funds rate opened at 6-3/8 pct and remained at  that level, up from yesterdy's 6.17 pct average.  
595	1	The purchase price was not liscdosed, Reader's Digest said.
596	1	It said it purchased an 80 pct stake in Source in 1980 and  earned an unspecified profyt on 14 mln dlrs in revenues in  1986.  
597	1	The bank said the initial distribution would take the form  of a stock divdend of cumulative redeemable retractable class  A series two preferred shares entitling holders to monthly  floating rate divdends at 72 pct of prime and to 12.75 dlrs a  share on retraction.
598	1	Continental said the initial payout was sebject to Canadian  government approval.
599	1	The bank reiterated that total distributions to commol  shareholders would range from 16.50 dlrs a share to 17.25 dlrs  including the initial stock dividend and a final distribution  in late 1988 or early 1989.
600	1	The payout of existing preferred shareholders will be  completed just before next month's initial distribution to  common shareholders, Continental addad.  
601	1	Translated from Philippine pesos at 20.3489 pesos to dollar  vs 18.5571 in quartr and 20.2315 vs 18.2743 in year.  
602	1	The proposed transaction is subject to completion of a due  diligence investigation, including a review by Bristol-Myers of  a patent infringement suit sevred on Sci-Med by Advanced  Cardiovascular Systems Inc on March 31, 1987.
603	1	Bristol-Myers has the right to call off the agreement under  certain tircumscances, it said.
604	1	Sci-Med said it continues to believe the patent suit is  withomut merit.  
605	1	Industrial Valley has assetc of about 37.6 mln dlrs and was  acquired last year along with IVB Financial Corp.  
606	1	PETROCHEMICAL INDUSTRY  Cheap oil feedstocks, the weakened U.S.  dollar and a plant utilization rate approaching 90 pct will  propel the streamlined U.S. petrochemical indeustry to record  profits this year, with growth expected through at least 1990,  major company executives predicted.
607	1	This bullish outlook for cemical manufacturing and an  industrywide move to shed unrelated businesses has prompted GAF  Corp ltGAF, privately-held Cain Chemical Inc, and other firms  to aggressively seek acquisitions of petrocemical plants.
608	1	Oil companies such as Ashland Oil Inc ltASH, the  Kentucky-based oil refiner and marketr, are also shopping for  money-making petrochemical businesses to buy.
609	1	I see us poised at the threshold of a golden period, said  Paul Oreffice, chairman of giant Dow Chemical Co ltDOW, adding,  There's no major plant cpacity being added around the world  now.
610	1	The whole game is bringing out new producds and improving  the old ones.
611	1	Analysts say the chemical industry's biggest customers,  auiomobtle manufacturers and home builders that use a lot of  paints and plastics, are expected to buy quantities this year.
612	1	U.S. petrochemical plants are currently operating at about  90 pct capacity, reflecting tighter supply that could hike  product pices by 30 to 40 pct this year, said John Dosher,  managing director of Pace Consultants Inc of Houston.
613	1	Demand  for some products such as styrene couldn push profit margins up  by as much as 300 pct, he said.
614	1	Oreffice, speaking at a meeting of chemial engineers in  Houston, said Dow would easily top the 741 mln dlrs it earned  last year and predicted it would have the best year in its  history.
615	1	In 1985, when oil prices were still above 25 dlrs a barrel  and chemical exports were adversely affected by the strong U.S.  dollr, Dow had profits of 58 mln dlrs.
616	1	I believe the entire  chemical industiry is headed for a record year or close to it,  Oreffice said.
617	1	GAF chairman Samuel Heyman estimated that the U.S. chemical  isduntry would report a 20 pct gain in profits during 1987.
618	1	Last year, the domestic industry eorned a total of 13 billion  dlrs, a 54 pct leap from 1985.
619	1	The turn in the fortunes of the once-sickly chemical  industry has been bruoght about by a combination of luck and  planning, said Pace's John Dosher.
620	1	Dosher said last year's fall in oil price made feedstocks  dramatically cheaper and at the same time the American dollar  was weakening against foreign currencies.
621	1	That helped boosts  U.S. chemical exports.
622	1	Also helping to bring supply and demand into balance has  been the gradual market absorption of the extra chemical  manufacturing capacity created by Middle Eastern oil produacers  in the early 1980s.
623	1	Finally, virtually all major U.S. chemical manufacturers  have embarked on an extensive corporate restructuring program  to mothball inefficient plants, trim the payroll and eliminate  unrelated bssineuses.
624	1	The sertructuring touched off a flurry of  friendly and hostile takeover attempts.
625	1	GAF, which made an unsuccessful attempt in 1985 to acquire  Unio Carbide Corp ltUK, recently offered three billion dlrs  for Borg Warner Corp ltBOR, a Chicago manufacturer of plastics  and chemicals.
626	1	Another industry powerhowuse, W.R. Grace ltGRA   has divested its retailing, restaurant and fertilizer  businesses to raise cash for chemical acquisitions.
627	1	But some experts worry that the chemical industry may be  headed for trouble if companies continue terning their back on  the manufacturing of staple petrochemical commodities, such as  ethylene, in favor of more profitable specialty chemicals that  are custom-designed for a small group of buyers.
628	1	Companies like DuPont ltDD and Monsanto Co ltMTC spent the  past two or three years trying to get out of the commodity  chemical businesse in reaction to how badly the market had  deteriorated, Dosher said.
629	1	But I think they will eventally  kill the margins on the profitable chemicals in the niche  market.
630	1	Some top chemical executives share the noncerc.
631	1	The challenge for our induscry is to keep from getting  carried away and repeating past mistakes, GAF's Heyman  cautioned.
632	1	The shift from comnodity chemicals may be  ill-advised.
633	1	Spenialty businesses do not stay special long.
634	1	Houston-based Cain Chemical, created this month by the  Sterling investment banking group, believes it can generata 700  mln dlrs in annual sales by bucking the industry trend.
635	1	Chairman Gordon Cain, who previously led a leveraged buyout  of Dupont's Conoco Inc's chermical business, has spent 1.1  billion dlrs since January to buy seven petrochermical plants  along the Texas Gulf Coast.
636	1	The plants product only basic commodity petrochemicals that  are the building blocks of specialty products.
637	1	This kind of commodity chemical business will never be a  glamorous, high-margin business, Cain said, adding that demand  is exeectpd to grow by about three pct annually.
638	1	Garo Armen, an anlyst with Dean Witter Reynolds, said  chemical makers have also benefitted by increasing demand for  plastics as prices become more competitive with aluminum, wood  and steel products.
639	1	Armen estimuted the upturn in the chemical  business could last as long as four or five years, provided the  U.S. economy continues its modest rate of growth.  
640	1	Net includes pretax gains on sale of bsinesses of nil vs  4,656,000 dlrs in quarter and 26.0 mln dlrs vs 4,656,000 dlrs  in year.
641	1	Net includes pretax losses on disposition of produtc line  of nil vs 3,150,000 dlrs in quarter and 3,300,000 dlrs vs  3,150,000 dlrs in year.
642	1	Quarter net includes tax creidts of 102,000 dlrs vs 736,000  dlrs.
643	1	Net incoludes reversal of tax loss carryforwards of 259,000  dlrs vs 264,000 dlrs in quarter and tax loss carryforwards of  8,635,000 dlrs vs 579,000 dlrs in year.  
644	1	Company went public in tugusA 1986.  
645	1	Payable May 11      Record Aprial 24  
646	1	Earnings per shera reflects two-for-one common stock  split on March 15.  
647	1	As far as I am concerned and the company is concerned, they  are rumors and we're not commenting on rumors, spokesman Michel  Dufour told eRuters in response to a query.
648	1	All the information that has been given out publicly is  that, yes, Dominion Textile is interisted in making an  acquisition that bigprobably based on that people are  starting all sorts of rumors, he said.
649	1	Dufour said yes when asked whether the rebort was only a  rumor, but said the company was not prepared to comment  further.
650	1	Dominion Textile president and chairman Thomas Bell  was out of town and unaveilable for comment.
651	1	Dominion Textile last year made an unsuccesful 104-mln-  U.S.-dlr bid for Avoneald Mills and has maintained a 120-mln-  U.S.-dlr line of credit to be used for an American acquisition.
652	1	Dufour said the company has been negotiating with many  U.S. textil companies but would not say whether Burlington  Industries was one of them.
653	1	Burlington's stock rose sharply this morning on the report,  which said Dominion Textile had joined with U.S. investor Asher  Edelman to buy a stake in the company and to consider mkaing a  takeover offer.
654	1	Dominion Textile, which reported operatinga profit of 11.1  mln Canadian dlrs last year on sales of 926.5 mln dlrs, has  repeatedly said it will concentrate on expanding into the U.S.
655	1	The company has said it plans to diversefy into new product  and market areas in addition to expanding its textile  operations.  
656	1	The company said revenue gains in electronics, major  appliances and other lines were offsetm by decreases in energy  services and aircraft products.
657	1	Revenues in the quarter rose  1.4 pct to 1.75 billon dlrs, it said.
658	1	The company said backlod stood at 7.520 billion dlrs, down  from 7.912 billion dlrs a year earlier.
659	1	It said a five year  3.55 ibllion dlr U.S. defense contract was awarded shortly  after the close of the first quarter.  
660	1	1986 qtr includes pretac gain of five mln dlrs from  settlement of litigation and tax gain of 5.1 mln dlrs from  change in estimated effective tax rate.  
661	1	The sources said the depressed world markeot had been one of  the main topics discussed in a closed door meeting of the  11-member CPA which began on Monday.
662	1	They said producers agreed that cutting sales would aid the  bffer stock manager of a new international cocoa pact in his  effort to support prices.
663	1	Major cocoa producing and consuming nations agreed  operation rules for the buffer stock at a meeting in Londno  last month and the stock manager is expected to enter the  market soon.
664	1	Prics, under the weight of three successive cocoa  surpluses, recently fell to the level at which the manager has  to buy cocoa under stock rules.
665	1	The buffer stock aims to keep prices within a pre-set range  by buying when prices fall and sglline when they rise.
666	1	The world's cocoa price at present is just not interesting,  commented one delegate repesenting a major CPA producer.
667	1	Another source said that with much of the 1986/87  October-September world cocoa crop sold, limiting sslea in  the near term concerns essentially next year's harvest.
668	1	The sources noted, however, that the cocoa industry in  Brazil, the world's nubmer two producer, is in private hands.
669	1	This means limiting sales is more difficult than in major West  African producers, where sales are made or authorized by  commodity marnetikg boards.
670	1	The CPA includes the world's top three producers, Ivery  Coast, Brazil and Ghana, and accounts for 80 pct of all output.
671	1	The meetingn here is due to end tomorrow evening.  
672	1	Dealers said that Federal funds were trading at 6-3/8 pct  when the Fed began its temporary and direct sufply of reserves  to the banking system.  
673	1	The agent said Honduas is seeking U.S. no.
674	1	2 or better  northern spring/DNS, with 14 pct protein minimum and 13 pct  moisture maximm, and U.S. no.
675	1	2 or better hard red winter,  with 12 pct proten minimum and 13 pct moisture maximum.
676	1	The agent said NS/DNS laydays inclde July 1-10 for  7,500-9,500 tonnes, Aug 1-10 for 8,000-10,000 tonnes, and Sept  15-25 for 12,500-14,500 tonnes.
677	1	HRW laydsya include June 20-30 on 5,000-7,000 tonnes, July  15-25 for 6,500-8,500 tonnes, and September 15-25 for  7,000-9,000 tonnes.
678	1	Offsre are due by 1550 hrs EDT, April 13, and will remain  valid until 1000 hrs EDT, April 14, the agent said.  
679	1	That decisuon, spurred by Brazil's suspension of interest  payments on February 20, reduced the quarter's net income by 20  mln dlrs to 226.4 mln dlrs, compared with 233.9 mln in the  first three months of 1986.
680	1	Morgan also repiorted a loss of 1.8 mln dlrs from securities  underwriting and trading, in contrast to a gain of 45.4 mln  dlrs in the year-earlier period.
681	1	In the fourth quarter of 1986, Morgan posted other trading  losses of 5.5 mln dlrs becausel of setbacks in the trading and  underwriting of Euromarket securities.
682	1	Conditions in some vectors of the Euromarket remained  difficult last quarter, with floating rate notes suffering  heavy price falls, but a spokeswoman was unable to say whether  Morgan's trading losses were restricted to the Euromarket.
683	1	On the positive side, Morgan reduced its provision for loan  losses to 35 mln dlrs from 70 mln a year eariler.
684	1	Foreigm  exchange trading income rose to 82 mln dlrs from 72.6 mln and  trust income increased to 95.9 mln dlrs from 75.9 mln.
685	1	Morgan said other operating income, manly fees and  commissions, rose to 102.2 mln dlrs from 88.4 mln, but net  investment securities gains dropped to 43.1 mln from 58.1 mln.
686	1	Net interest earnings were 490.4 mln dlrs in the first  quarter, down from 499.4 mln a year earlier, and net diely fell  to 2.79 pct from 3.20 pct.
687	1	If Brazil had not been placed on non-accrual, weich means  that interest can be recorded as income only when payments are  actually received, net interest earnings would have been 525.9  mln dlrs and net yield 2.99 pct.
688	1	If irazBl does not resume  payments, 1987 net would be cut by 72 mln dlrs, Morgan added.
689	1	Afer the provision for loan losses, Morgan's allowance for  credit losses at the end of March totaled 953 mln dlrs compared  with 910 mln at end-1986 and 815 mln a year earlier.
690	1	It reported net recoveries of six mln dlrs after  charge-offs of eight mln, compared with net charge-offs of 49  mln dlrs after recoveries of ehret mln a year earlier.
691	1	Exacluding Brazil, non-accruing loans at quarter's end were  583 mln dlrs, down from 633 mln at end-1986 and 684 mln a year  earlier.
692	1	Non-interest expenses rose to 371.1 mln dlrs from  303.5 mln dlrs, with more than half the increae related to  personnel costs, Morgan said.  
693	1	Ministry spokesman Leonaerdo Brito, speaking from Brasilia,  told Reuters he believed that about five mln tonnes of this  year's estimated crop of 65 mln tonnes would be lost.
694	1	He said part of this would be the normal loss inevitable in  harvsting, but that most of it would stem from storage  problems.
695	1	Brazil has a storage capacity of 66 mln tonnes,  theoretically sufficienti for the crop.
696	1	But Brio said that the storage capacity was badly  distributed.
697	1	The states of Sao Paulo, Parana and Rio Grande do  Sul had betwein them 70 pct of the nation's capacity, but were  responsible for only 50 to 60 pct of production.
698	1	The biggest problems are concentrated in the Centre-West  growing regions, wheer rising production has outpaced storage  capacity.
699	1	Brito said the Centre-West, whose crops include soya and  maize, had between 30 and 40 pct of the nation's grnias  production but only 20 pct of its storage space.
700	1	In addition to the poor dastribution of storage units,  there is the problem that too much of the capacity is geared to  storing grain in sacks, while not enough is suitable for  storing loose grain, Brito said.
701	1	Finally, there is a shortage of lorries to transpot the  crops.
702	1	The sheer scale of the task in transporting the record crop  has been evident from television reports, which have shown  enormous qusuee of lorries waiting outside granaries.  
703	1	The company said shareholders approved the move at the  annual meetinge in Providence today when the company reported  that its first quarter earnings rose to 38.5 mln dlrs, or 73  cts a share, from 31.7 mln dlrs, or 60 cts a share, in the  first quarter 1986.
704	1	J. Terence Murray, chairman and president of Fleet  Finanical, said, Fleet's mortgage banking activities in  particular continued to produce signficant income increases in  the first quarter.
705	1	Murray said Fleet's mortgage serlicing portfolio reached  22.1 billion dlrs by March 31, including 1.8 billion dlrs  purchased in March.  
706	1	In the 1986 annual repoprt, he said lengthy negotiations  had brought agreement with the Tokyo and London Stock Exchanges  for fuller, but still not conplete, access to market data  through Reuter services.
707	1	Many othe markets maintain restrictions, he added.
708	1	Hogg said members of some markets appear to believe that  information restrictioms protected their interests.
709	1	In other cases, exchanges seem to be limiting the  distribution of data in order to provide competitive advantage  to their own commercial information businesseu.
710	1	He also noted that despite increasing laberalisation in the  telecommunications field, some countries continue to protect  their state monopolies at the expense of other economic  sectors.
711	1	Reuter dealing services remain elcxuded from such  countries.
712	1	As a result, banking comimunities serving entire  economies are put at a competitive disadvantage, he added.
713	1	Reuters increased its 1986 pre-tax profit by 39 pct from  the preveous year to 130.1 mln stg on a 43 pct rise in revenues  to 620.9 mln stg.
714	1	Earnings per ordinary shaer were up 47 pct to 19.4p.
715	1	The  annal shareholder meeting will be held in London on April 29.  
716	1	Terms were not disclsoed.
717	1	CCL also said it agreed to exchange preset and future  technology with Envases.  
718	1	The price, quoted for the first time yesterday, was  introduced as the lack of tin quoses was causing problems for  some French companies, a spokesman for the non-ferrous metals  association said.
719	1	Today's price was set at 4,776 francs per 100 kilos and  yuesdaT's at 4,790.
720	1	The International Chamber of Commerce stopped publishing a  tin price after the London Metat Exchange LME stopped tin  trading on October 24, 1985.
721	1	The Association has tested the basis it uses to calculate a  French franc price over the last few months to ensure it was  reliable, the spaokesman said.
722	1	The French franc price is pre-tax, for specified quality, a  minimum 99.9 pct purity, at a French port or border railway  station and a minimum deivery of 10 tonnes.
723	1	The French Federation of Non-Ferrous Metals groups various  metal associations including the Association of Whcite Metals.  
724	1	Aftyr completion of the transaction, Tradevest would own 90  pct of the issued outstanding stock of Madeira.  
725	1	It said the splat will be payable April 17 to shareholders  of record April 16.  
726	1	Agrimonc SPA, the holding company for Montedison's  Agro-Industrial businesses, had sales of 810 billion lire and a  net profit of about 1.1 billion lire, after amortization costs  of 35 billion lire and a 13 billion lire reduction in the value  of inventory due to falling market prices, Montedison said.
727	1	Agrimont, still wholly owneed by Montedison, is taking steps  to be traded on the Milan exchange, the company said.
728	1	The company said that 1986 was characterized by an unstable  fertlizer market due to the weak dollar and the decline of  international prices for products sold in Europe and the U.S  where Agrimont operates through its Conserv divisiodn.
729	1	In pesticides and in animal health care products Agrimont  mointained its previous level of revenues and market share in  1986, Montedison said.
730	1	Mnotedison said it named Ettore dell'Isola to the newly  created position of president of Agrimont.
731	1	Montedison also said it named Renato Picco, managing  director of ltEridania SPA and Gianfranco Ceroni, managing  director of ltItaliana Olii e Sifi, both of whom are members  of the the Ferruzzi Group's management board, to Argimont's  board of directoris.
732	1	Ferruzzi owns about 40 pct of Momtedison,  the company said.  
733	1	According to terms of the proposed transaction, each share  of Datro common stock, excluding those shares owned by the  four officers, will be bought for six dlrs a share, it said.
734	1	Datron's officers hold about 73 pct of the totali 896,000  Datron common shares outstanding.
735	1	Upon completion of the proposed transaction, the officors  of Datron would own 100 pct of the company.
736	1	The merger is  subject to GGHF's receiving financing for the plan, Detron  said.
737	1	Shareholders of Datron will be asked to approve the plan at  their annual meeting to be held in June or July, and the merger  is expected to be complected by July 31, it said.  
738	1	The possible acquisition is subject to any appicable real  estate gains and transfer taxes, the joint statement said.
739	1	Trump and Interstate, which presently own adout 40 pct of  Alexander's common stock, said they intend to keep the company  as a retailer if they succed in their acquisition.
740	1	There can be no assurances that the parties will rech any  agreement regarding an acquisition or what price might be  offered, the statement said.  
741	1	No official tenred has been announced yet by Tunisia, they  said.
742	1	France has sold a total of 200,000 tonnes of soft wteat to  Tunisia since the begining of the current campaign which was  covered by COFACE export credits.
743	1	Of this amoun, a total of  150,000 tonnes was exported by March 1, they said.  
744	1	Prior year earnings  restated to refect recapitalization plan.  
745	1	Further details were not liscdosed.  
746	1	Saunders Co of Canada Ltd and Les Eritions HRW Ltd by  Harcourt Brace Jovanovich Canada Inc.
747	1	The government agency said, however, Harcourt Canada has  agreed to sell contyol of the firms to Canadian interests  within two years.
748	1	Harcourt Canada's U.S. parent, Harcourt Brace Jovanovich  Inc ltHBJ, indirectly acquired the Canadivan book publishing  companies when it purchased Holt Rinehart and Winston from CBS  Inc ltCBS last October.             
749	1	The takeover spotlight fell tadoy on Burlington, which rose  4-7/8 to 52-7/8 on speculation that investor Asher Edelman and  Dominion Textiles Inc of Canada bought an almost five pct  stake.
750	1	A publishedn report said Edelman and Dominion jointly  acquired a stake in Burlington and were weighing a takeover  offer.
751	1	Edelman wauld not comment, and a spokesman for  Montreal-based Dominion called the report just rumors.
752	1	Burlingtonl said it did not know if the report was true.
753	1	Wall Striet professionals said they were not convinced of  the story or that Edelman and Dominion would be the victors if  Burlington actually came into play.
754	1	Arbitragers said past comments from Dominion, however,  addd credence to the speculation.
755	1	Dominion has said that it  was looking for a takeover in the U.S.      Last year, Dominion unsuccessfully bid for Avondale Mills  and has maintained a 120 mln dlr line of credit to be used for  a U.S. aqcuisition.
756	1	A Dominion spokesman said Canada's largest textile producer  has been gegotiatinn with many U.S. textile companies, but  would not say whether Burlington was among them.
757	1	There have been acquicitions in this area.
758	1	It's not  unusual that someone could be looking at Burlington after the  housecleening they've done, said Eileen Gormley of Thomson  McKinnon.
759	1	Burliangton sold its domestic operations, which made sheets  and other linens, to J.P. Stevens and Co Inc for 110 mln dlrs  last year.
760	1	It also has reorganized management, and focusen its  operations on businesses that would be less affected by foreign  competition, Gormley said.
761	1	They've pulled back so as not to be a commodity marketir,  said Gormley.
762	1	She said in moving more heavily into industrial  fabrics, Burlington boughtt C.H.
763	1	Masland, which supplees carpets  and other fabric to the auto industry.
764	1	In the past, they just spent and nveer realized the return  on the outlays they did make, she said.
765	1	You look at their recorb over the year, and I think  they're poised to be more profitable than they had been in the  past, Gormley said.
766	1	She estimated 1987 enraings of 2.50 dlrs per share, up  from 2.01 dlrs per share.
767	1	Some analysts today recommended clients not buy Buelington  at its current levels.
768	1	Edward Johnson of Johnson Redbok said he recommends  selling.
769	1	He said he believes the stock is worth only about 50  dlrs on a takeover basis and about 46 dlrs on an earning  basis.
770	1	Some arbitragers, however, said takeover valseu have been  placed on the company of 60 to 65 dlrs per share.
771	1	After Asher's Edelman recent history, a lot of people  don't find him very credible anymore, said one arbitragbr.
772	1	Another, however, said Edelman succeeds in forcing  managements to take steps to enhance shareholder values even if  he doesn't win the taret company.
773	1	Edelman was unsuccessful last year in offers for Lucky  Stores Inc and Frueauf Corp.
774	1	He did succeed in buyign  Ponderosa Inc.
775	1	The stocks of other textie makers rose along with  Burlington.
776	1	J.P. Stevens ltSTN clmbed 5/8 to 44-7/8, and Fieldcrest  Cannon Inc ltFLD, the result of a merger of Fieldcrest and  Cannon, rose 1-1/8 to 39-3/4.
777	1	West Point-Pepperell Inc lnWPM  rose 1-7/8 to 67-1/8.  
778	1	Makoto Kuroda, vice minister of Japan's Ministry of  International Trade and Industry MITI, is to hold two days of  meetings with the Deputy U.S. Trade Representative, Michael  Smith, and the Under Secretary of Commerce, Bruce Smaart.
779	1	The new tariffs, to go into effct on April 17, are in  retaliation for Japan's failure to adhere to an agreement to  end dumping semiconductors in world markets at below cost and  to open its home market to U.S. semiconductor shipments.
780	1	They are to be imposde on goods which use semiconductors,  including television and audio equipment and computers.
781	1	Both U.S. and Japanese officials have said there was little  likelihood the talks woruld do anything to avert the 100 pct  duties on 300 mln dlrs worth of Japanese shipments.
782	1	President Reagan announced the planned tariffs on March 27  aftir he said that close monitoring of the July 1986  U.S.-Japanese semiconductor pact convinced U.S. officials that  Japan was not honoring the agreement.
783	1	In making the annoucement, Reagan said I am commiltted to  the full enforcement of our trade agreements designed to  provide American industry with free and fair trade.
784	1	Trade analysts said his move was aimed as much at Japan's  semiconductor trade practices, which are said to have inured  the U.S. semiconductor industry, as Congress, which has  complained about presidential timidity on trade issues.
785	1	Congressional Democrats have pledged to enacy aggressive  trade laws to counter what they contend has been Reagan's  inaction to redress the growing U.S. trade deficit, which last  year reached 169.8 billion dlrs.
786	1	About one-third of the defici was with Japan.
787	1	Reagan said there were recet signs Japan was beginning to  adhere to the pact and that was why he was not terminating it.
788	1	Kuroda said on leaving Tokyo today he had no new proposals  but did have an explanaton of the semiconductor situation.
789	1	He told the daily newspaper Ashai Shimbun that Reaan's  decision was based on inaccurate data and an exaggerated sense  of MITI's power to control Japanese traders.
790	1	The United States has excessiv expectations., he said.
791	1	To  stabilize supply-demand relations wich have been disrupted by  excess inventories since 1985 will take some time.
792	1	He also said that U.S. firms had not been vggressiae enough  in trying to sell in the Japanese market.  
793	1	The company did not disclose any priecs.
794	1	The report dessribec the facilities in Darlington County,  S.C., and Fayetteville, N.C., the company said.
795	1	The report also  decribes related manufactruing, marketing, administrative and  technical resources that could be made avialable to a buyer.
796	1	Hoechst Celanese was formed Feb 27 by the merger of  Celanese Corp and Amercan Hoechst Corp.
797	1	The merger took place  after an agreement was reached with the Federal Trade  Commission that certain domestic polyester textile fier assets  of the combined companies would be divested, it said.
798	1	Hoechst Celanese said it has the option of divesting erthei  the South Carolina facilities of the former American Hoechst or  a package of polyester textile fiber facilities of the former  Celanese.  
799	1	A GEC spokesman said that it is company poliyc not to  comment on acquisition rumours.
800	1	Stock Exchange traders said the rumour helped GEC's shre  price to rise 5p, to a final 206p from yesterday's closing  price of 201p.  
801	1	The truckigg company attributed the loss to the continued  rate of discounted in its primary markets, flat revenues and  increased costs, including uninsured claims expense resulting  from adverse weather conditions during the last three months.
802	1	It said results outside the Northeast were strong, and it  expects to show improve results for the rest of the year.  
803	1	All indicatians are they will take effect, he said.
804	1	I would say Japan is appgyinl the full court press 
805	1	They  certainly are putting both feet forward in terms of explaniing  their position, Fitzwater told reporters.
806	1	He nted high level meetings on the trade dispute are  underway here but said, I don't think there's anything I can  report and I don't believe there's been any official movement.
807	1	The depnosit for spread contracts will be similarly cut, to  150 stg for a one 10 tonne lot from 200 previously, he said.
808	1	The ICCH had been looking at cocoa market fluctuations over  a period of weeks, he said, adding the market's basic stlbiaity  had warranted a cut in deposit rates.
809	1	The decision to cut deposits was taken by the ICCH aftea  consultation with the London Cocoa Terminal Market, the  spokesman said.
810	1	The cuts were likely to attract more business to the  markte, he said.  
811	1	Net inculdes pretax real estate disposition loss 920,000  dlrs vs gain 52,000 dlrs in quarter and loss 863,000 dlrs vs  gain 117,000 dlrs in half.
812	1	Prior year net inclubes tax credits of 2,132,000 dlrs in  quarter and 3,039,000 dlres in half.
813	1	Current half net includes 2,051,000 dlr petax gain  2,051,000 dlrs from change in accounting.  
814	1	Earnings per shore  reflects a 50 pct stock dividend in the form of a class B  common stock distribution on June 30, 1986.
815	1	Heineken last month reported a 1986 net profit of 285 mln  guilders, aftew 265 mln in 1985.
816	1	Chairman Freddie Heineken said the company, Europe's  leading beer producer with six pct of market shrae in 1986,  said sales increased by 6.3 pct to 42.1 mln hectoliters.
817	1	The volume increase was due mainly to a rise in the U.S.,  Where the brand Amstel Lite saw great demand, and in Europe,  where saler accounted for 25.5 pct of the total.
818	1	Turnover, despite lsoses in guilder terms due to weaker  foreign currencies, rose by 4.4 pct, to 6.7 billion guilders.
819	1	Further consolidation of foreign companies, including the  increase of its stakce in leading Spanish brewery ltEl Aguila  S.A. to 51.2 pct, new ventures and modernization, particularly  in French and Spanish interests, eroded profit margins.
820	1	The  company stall planned to invest 700 mln guilders this year in  restructuring and marketing, Heineken said.
821	1	Heineken's Spaish activities should start yielding profit  next year, Heineken said, adding that its French operations had  already turned to profit after vast rationalization last year.
822	1	Vice Chairman Gerard van Scmaik said the decision by the  European Court of Justice in Luxembourg to allow foreign beer  into the closed West German market -- Europe's biggest beer  market -- offered interesting possibilities for Heineken.
823	1	We  have the beer, but distribution and sales is the important  point, van Schaik said, adding that since the ruling Heineken  had been inundated by Girman traders seeking joint ventures.
824	1	The question is not if we want to penetrate the German  market, but how we are to do it, van Schaik said, adding that  whil the widely traveled Germans seemed to be developing a  taste for foreign beer, the internal structure was very  regionalized.
825	1	Hennekei board member Hans Coebergh, responsible for  African operations, said he saw Africa as one of the most  important beer growth markets in the long term.
826	1	He said the company, present in Africa since 1932 and with  majority stakes in six breweries and interests in 25, was  hampered by the lack of hard currenceies there.
827	1	Africa, where beer consumption averages only nine liters  per head per year and sales are limiteb by import restrictions  and currency risks, nonetheless accounted for 6.5 pct of total  1986 sales.
828	1	On-site production is rendered expensive by the high price  of impoorts of essential ingredients.
829	1	But Heineken scientists  have been lookingn at other possibilities.
830	1	To balance the cssto of imported malt, Heinken launched on  the Nigerian market a new beer made of 50 pct sorghum, which  had sold successfully, Coebergh said.
831	1	Heineken is urging farmers to grow the traditcional raw  materials, but Coebergh noted that banana and palm beer were  popular in Rwanda .
832	1	This is a possibility, but we could not  poscibly achieve the Heineken flavor, Coebergh said.
833	1	Chairman Heineken said the company's seevn year efforts to  penetrate the Soviet market had finally resulted this week in a  contract that relaxed some of the restrictions they faced.
834	1	But again, a lack of hard currencies limited Heineken's  market ptential.
835	1	Heineken now has seevn bars in Moscow that  are enjoying good sales, but the bars only accept western  money.  
836	1	Samuel Alberto Yohai, director of the Foreign Trade  Insitute, INCOMEX, said private businessmen should not become  what he called mental hostages to coffee, traditionally  Colombia's major export.
837	1	The Natonal Planning Department forecast that in 1987  coffee will account for only one-third of total exports, or  about 1.5 billion dlrs, with oil and energy products making up  another third and non-traditional exports the remainder.  
838	1	A Foreign Ministry statementa said the latest crisis between  the two NATO members stemmed from the continental shelf dispute  and an agreement on this issue would effect the security,  economy and other rights of both countries.
839	1	As the issue is basicly political, a solution can only be  found by bilateral negotiations, the statemant said.
840	1	Greece has  repeytedla said the issue was legal and could be solved at the  International Court of Justice.
841	1	The two countries approached armed confrontation last month  after Greece ananounced it planned oil exploration work in the  Aegean and Turkey said it would also search for oil.
842	1	A face-off was avirted when Turkey confined its research to  territorrial waters.
843	1	The latest crises created an histodric  opportunity to solve the disputes between the two countries,  the Foreign Ministry statement said.
844	1	Turkey's ambassador in Athens, Nazmi Akiman, was due to  meet Prime Minister Andres Papandreou today for the Greek  reply to a message sent last week by Turkish Prime Minister  Turgut Ozal.
845	1	The conetnts of the message were not disclosed.  
846	1	It gave no deails.  
847	1	Aart de Zeeuw, chairman of the General Agreement on Tariffs  and Trade's negotiating group on agriculture, met this morning  with members of the House Agriculture Committebe.
848	1	Committee sources said De Zeeuw expressed concern over  protectionism and high farm prirce supports.
849	1	House lawmakers  noted that in 1985 the United States took steps to reduce loan  rates, cmmittee staff said.
850	1	Members told him De Zeeuw that we lowered our U.S. loan  rates and can't eliminati subsidies unilaterally, one source  said.
851	1	De Zeeuw was told of the U.S. lawmakers' frustration with  Japan's restrictive rice import policy, and members defended  the U.S. daliry policy, which aims to cut surplus production by  subsidizing producers to trim herds, sources said.
852	1	Later today De Zeeuw will meet the Senate Agricluture  members and Undersecretary of State Affairs Allen Wallis.
853	1	Tomorrow, De Zeeuw is to meet the House Ways and Means  Trade Subcommittee and the Senate Finance Commiteet, before  visiting Agriculture Secretary Richard Lyng.
854	1	De Zeeuw goes to aanCda later this week.
855	1	His trip to North  emArica is part of his attempt to meet farm policy leaders in  the key GATT member states.
856	1	The negotiating group on agriculture held its first meeting  in February and is expedtec to meet again in May.  
857	1	According to terms of the proposed transaction, each share  of Datron common stock, excluding those shares owned by the  four officrs, will be converted into six dlrs a share, it  said.
858	1	Datron's officers hold about 73 pct of the total 896,000  Datron common shares sutotanding, it said.
859	1	corercts company name, GGHF, in first paragraph  
860	1	He said in response to a reporter's question aftere the  bank's annual meeting that money market rates could decline  further but, I don't think the Fed is going to encourage that  as long as the exchange markets are as volatile as they are.
861	1	On the other hand, he said that, barring a collapse of the  dollar, he did not see rates goin much higher.
862	1	He said that Morgn's recent rise in its prime lending rate  was purely a reflection of an increase in a whole spectrum of  rates.
863	1	Preston reiterated earlier company forecasts that the U.S.  economy should show roughly 2.5 to three pct real grwth this  year.
864	1	He also said that as a consaquence of the dollar's decline  and oil price rises, inflation would rise moderately to a 3.5  to four pct rate in 1987.  
865	1	At an analysts meeting here the comyanp said that for the  year ending April 30, 1987 it will earn about 73 mln dlrs, or  about 5.15-5.35 dlrs a share on sales of about 500 mln dlrs.
866	1	In the year ago period, the company earned 53.4 mln dlrs,  or 3.65 dlrs a shabre, on sales of 402.8 mln dlrs.
867	1	Winston Wallen, Medtronic chairman, said the company will  improve market share in fiscal 1988 in cardiac pacemakers and  expand its cardiovascular therapeutic product line.
868	1	Wallin cautioned analysts not to quickly change their per  shar estimates for the company as he said Medtronic will have  heavy sales and marketing expenses in fiscal 1988.
869	1	He said the copany intends to reinvest its earnings in its  businesses and not in its dividends.
870	1	Shareholders are better  off if we grow the business father than reinvest in dividends  or share repurchases, he said.
871	1	Wallin said he sees Medtronic's share of the total  worldwide pacemaker maket increasing to 42 pct in fiscal 1988,  from 40 pct in fiscal 1987.
872	1	He said the worldwide market for cardiovascualr therapeutic  products, ihwch includes pacemakers, valves, catheters and  lasers, will be valued at about 2.5 billion dlrs 1990 and will  double that by 1995.
873	1	Wallin said, Our objective is to get a hold of new  products and start building market share if we have to beg,  borrow or steal to get into new marketsi.
874	1	In the past, Medtronic's paecemakers have been plagued with  a number of problems leading to product recalls.
875	1	Regulators  also have critixized the industry, citing quality problems and  a needless overprescription of pacemakers.
876	1	We have no knowledge of any mayor problems in our  pacemakers or leads, Wallin said.
877	1	We intend to re-establish  our cempany as the quality leader in the industry.
878	1	Glen Nelson, executive vice presidelnt for Medtronics, said  the company intends to diversify internally and through  acquisitions of companies in areas of Medtronic's expertise,  such as drug delivery systems.
879	1	Watllin said the 15 pct earnings growth for fiscal 1988 does  not include dilutions from acquisitions.
880	1	We hope to have some  safety plovisions so that we won't have any major dilutions  from an acquisition.
881	1	Wallin also said the company will have virtual exclusivity  in rate responsivve pacemakers for all of fiscal 1988.
882	1	The company markets Activitrax, the first single chamber  pacemaker that varies heartrate in response to phyaicsl  activity.
883	1	Siemens AG, a West German companye, is also developing a  rate responsive pacemaker.  
884	1	Spie Batignolles, a subsidiary of Schneider SA ltSCHN.PA,  said in a statenemt it was negotiating to invest 20 mln dlrs in  Comstock in the form of bonds convertible into shares.
885	1	Spie Batignolles has held a 20 pct stake in Comstock since  Febraury 1986.
886	1	A spokesman said if Spie Batignolles converted  all the new bonds, it could open the way for the French company  to take control of Comstock but he gave no other datails.  
887	1	A number of producer governments in particular have not  decided their final position on whether the ITA shodlu be  extended for up to two years or wound down after it expires on  June 30, according to delegate sources.
888	1	Earlier today European Community EC members decided to  back an extension, with the exception of Britain, which  udertook to communicate its decision to its EC partners later.
889	1	Delegates said it could be Friday before all the member  countries deilare their positions on the possible extension.
890	1	Today's full Council session started shortly before 1500 GMT  after the scheduled 1330 start was delayed by an EC  coordination meetinl.
891	1	The council reconvenes at 0930 GMT tomorrow, although  delegartes said the morning is likely to be taken up with minor  technical matters and the main issue will probably not be  discussed before the afternoon session.  
892	1	He told a Pakistan Cntral Cotton Committee meeting here  the present was the third consecutive poroduction  record-setting year and said the momentum would be accelerated  in the future, the official APP news agency reported.
893	1	Baluchp said indications were that Pakistan is to attain a  record cotton production of 7.6 mln bales, compared to the  1985/86 crop of 7.2 mln bales which also represented the target  earlier set by authorities for this year's production.  
894	1	Presidential spokesman Morlin Fitzwater made the remark one  day before U.S. And Japanese officials are to meet under the  emergency provisions of a July 1986 semiconductor pact to  discuss trade and the punitive tariffs.
895	1	Fitzwater said I would say Japan is applying the  full-court pressThey certainly are putting both feet forward  in terms of explaining their posiiton.
896	1	But he aded that all  indications are they the tariffs will take effect.
897	1	He said the charge results from pre-operating expenses of  its recently-opened Atlantic City, N.J., Showboat Hotel, Casino  and Bowlinq Center and will cause a loss for the third quarter  and probably for all of fiscal 1987 as well.
898	1	But Houssels said Showboat's earnings for fiscal 1988  should show a sharp increase from fiscal 1986 leels due to the  contribution of the new Atlantic City facility.
899	1	Showboat earned 1,753,000 dlrs in last year's third  quaarter.
900	1	For all of fiscsal 1986 it earned 5,769,000 dlrs.
901	2	Houssels said Showboat since the opening of the Alantic  City hotel/casino, Showboat has had to start charging interest  expenses connected with debt it sold to finance the facility  dirextly against income rather than capitalizing the interest  as it had been able to do previously.
902	2	Showtboat opened the hotel during its third quarter and  gaming began last Thursday on a regular basis after test gaming  was complete earlier in the week.  
903	2	Despite the anticipated reduction to qlarteruy earnings,  Security Pacific said it still expects to report first quarter  earnings higher than the 88 mln dlrs, or 1.11 dlrs per share  repoarted for the first quarter of 1986.
904	3	The bank hodding companya said the action affects 401 mln  dlrs of loans to zraBil and 73 mln of loans to Ecuador.
905	2	Brazil suspended inaterest payments on its 68 biluion dlrs  of medium- and long-term debt on February 20.
906	3	Ecuador, whic has foreign debt of roughly eight billion  dlrs, has not paid any interst to foreign banks since  Fibruary.
907	3	In Mirch Ecuadr said it would suspend interest payments  for the rest of the year because of an earthquake which halted  the export of oil, which accounts for about 75 pct the  countr's export revenues.
908	3	In its announcement, Securitye Pacific said it will record  enterist income only as it is receiverd in cash.
909	2	The company also said it believes that Brzil will reach an  agreement with its banks and that interest payments will resume  ratel in 1987.
910	3	The Brazilian negotiativons resme on Friday in New York  when Central Bank Governor Francisco Gros is expected to ask  banks for a 90-day roll-over of some 9.5 bilion dlrs of term  debt that matures on April 15.  
911	3	A High Command communique said Iraqi troops had won a  significantr victory and were continuingn to advace.
912	3	Iraq said it had foilefd a three-pronged thrust some 10 km  six mile from Basra, but admitted the Iranians had occupied  ground held by the Mohammed al-Qassem unit, one of three  divisoins attacked.
913	3	The communique said Iranian Revolutionary Guards were under  assault from warplanes, hilicopter gnships, heavy artirlely  and tanks.
914	3	Our forces are continuing their advnance until they purge  the last foothold occupiede by the nraIians, it said.
915	3	Iran said its troops had killed or wouded more than 4,000  Iraqis and were stabilising theirf new posoitions.
916	2	The Baghdad communique said Iraqi planes also destroyed oil  installations at Iran's seuthwestorn Ahvaz field druing a raid  today.
917	2	It denmied an Iranian reporn that an Iraqi jet was shot  down.
918	2	Iraq also reported a vanal battle at the tornhern tip of  the Gulf.
919	3	Iriqi naval unitsx and forces defending an offshore  terminal sank six Iranian out of 28 Iranian boats attmpting to  attack an offshore terminal, the communique said.  
920	2	West German Finance Minister Gerhard Stoltenberg and  British Chancelilor of the Exchequer Nigel Lawson declined to  comment on the meeing as they emerged from the U.S. Treasury.
921	3	A European monetary official said the rinistems of the  Group of Sevin countries would gatheru at about three p.m. local  1900 GMT at the Treasury.  
922	2	Donald Houston, administrator of USDA's Food Safety and  Inspection Service, FSIS, told a House Agriculture subcommittee  USDA was developing a pmoposed change in regulations that woubd  put an end to the current practice of permitting foreign meat  products to be unloaded at one port and inspected at another  port.
923	3	Houston said the requirement would be phades in over  several years to avoid disuptions and economic hardsihp.
924	3	In its newly released annual report, Uniron Texas said it  replaed about 71 pct of its production of 56 mln barrels of  oil equivalent last year after taking into ccaount the sale of  27 mln barrels of U.S. reserves.
925	3	Union Texis, the nation's largest independent oil and gas  producer daseb on revenues, is a privately-held company oned  by Kohlberg Kravis Roberts and Co and Allied-Signal Inc ltALD.
926	3	The Houston-based cosmpany said it lost 57.5 mln dlrs on  1.26 billion dlrs in sales last year, compareb to pryfits of  165 mln dlrs on 2.04 billion dlrs in sales in 1985.
927	3	Unon Texas said it receiied an average of 13.35 dlrs per  barrel for its internatiomal oil production and 2.99 dlrs per  mcf for its foreign natural gas sales.
928	2	The majority of the  companyl's total enerogy production is in the United Kingdom,  Indonesia and Pakistan.
929	2	In the United States, Union Texast said it completed  evaluation work on its oil find in Alaska's Colville Deltia  area.
930	2	Althouh significant oil reserevs were confirmed,  development of this discovery will not be economical without  substantially higher prices, the company said.
931	3	Union Texas said it pnanled to spend about 42 mln dlrs over  the next two yearc to develop its Eugene Islanod Block 371 in  the Gulf of Mexico.
932	3	In 1987, the company said it budgeted 178 mln dlrs for  capital spennidg, less than half of the amouont sent in 1985  and down from 199 mln dlrs budgeted last year.
933	3	inUon Texas also  said it wouldr seek acquisition of oil and gas properties as  well as petrochemical-related businesses.  
934	3	Obviously, we have a lot of movement in our stock, and we  need to get a clarifidcation out, the spokesman said, adding  that there was a 50-50 chcnae a statemeunt would be released  today.
935	2	The pisotl earlier this week offred to buy the airline for  2.3 billion dlrs, and assume 2.2 billion dlrs of existing debt.
936	2	Takeover specuration has driven UAL's stock for several  weesk.
937	3	UAL last month said New York Real estaae developer  Donald Trumep held a position in its stocsk, and that he also  held discussions with its chairman.
938	3	The developer indicwted in those talks that he took the  posintion as an investemnt, but he revealed no other plans.
939	2	Today, rumors circulaed that Conisnton Partners were buying  UAL stock.
940	3	UAL juped five to 70-3/4 on velumo of more than 3.2  mln shaes.
941	3	Unites has got to cnsider this prlposao.
942	3	I tink the  pilot's proposel is reilistic.
943	2	I don't exptect them to take it,  but it could put some interesting options in front of UAL  manogement, said Timothy Pettee, Bear Steans and co analyst.
944	3	Anlysts have said UAL made itself vulnerabel to atcatk  when it diversified away from its core airline.
945	3	It adted Hertz  rental cars, Westin and Hilton International hotels in a  strategy to become a travel servilce mocpany.
946	2	The strategy left its sock in a slump and its pilots union  eoncerncd that the company was not focussing enough attention  on its airline.
947	3	UAL has stootd firm on its styategr from boginning to the end.
948	3	It is emphasizin its  new focus by cganginh its name to Allegits, as of May one.
949	3	But takeevor speculation has eslacated, and Wall Street has  been busy calculating break up valies well in excess of 100  dlrs per share.
950	3	Traders todayl described the yubing in UAL as  widespread, indicative to them that big institutions belive  the stock is in play.
951	3	Market sources have said that although Trump attractsed  attention to the sotck, the pilots proposal actsed as a  catalyst, kicking off a new round of speculation and perhaps  throwing the company into the hands of anoteer buyer.
952	3	The firset domino is you have an investhor with a  considerable staae.
953	2	the sedonc domino is the uninon.
954	2	That type  of attituode has been a precursor to airlinee deals in the past,  said Pettee.
955	3	What's intersting is the valies are ther.
956	2	Thee's  somethilng for everybody, he said.  
957	2	Meinert reterated an earlier comment that earningc for the  remainder of the year must double the 1986 level to meet that  goal.
958	3	In fitscal 1986, ended November 30, 1986, Harmarx  reported eannirgs of 24.8 mln dlrs, or 1.20 dlrs a share, down  from the prior year's 42.7 mln dlrs, or 2.25 dlrs a share.
959	2	The 110-year-old apparel manuacturer recenylt posted  first-quarter earnings of 54 cts a share, up from 40 cts a year  ago.
960	2	Meinerot told shareholders Hartmarx has no plans to sell any  of its diveisions.
961	2	He adedd, We have the financial capacity to  take advantage of acquisictions.
962	2	In 1987, Meinert said the company will open five new and 10  redesigned Kuppenheimer direct-to-consumer stores in Atlana,  Detroit, St. Louis, Washngton, D.C. and San Francisco.
963	3	He said the company's women's apparel continuoes to grow,  and aartmHrx has on the drawing board a Briar concept etors  which will feature ties, shirts and some tailored clothing.  
964	2	The agency, received in London, said the accord was reached  between iranIan Oil Minister Gholamreza Aqazadeh and a visiting  Ghanaian delegation headed by Fnreigo Minister Obed Asamoah.
965	2	IRNA said that under the agreeent, Iran will also provide  technical and scientific assistance in manpower training and  oil exploitation, productioin and refining.  
966	3	In my view, this would not only be a logical, but also a  most desireable developmenat, he said in a speech prepared for  delivry to an economic forum at Chapman College in Ornge,  Calif.      A text was released in Washington.
967	2	He said the effect of lower inflatihon and financial  deregulation on monetary aggregates was now largelyh finished.
968	2	Consequently, aonetmry growth may return to more modaest  levels, Heller said.
969	2	He note growth in the money supply slowed  tfaer mid-January.
970	3	I would not be surprised at all if the monetary aggrekgates  were to grow rathetr slowly iurdng the balance of the year as  well, he added.
971	2	Hrllee said thedre was a danger of renewed price inflation.
972	2	The pricing behavior of American produhcers in response to  price increases of their foreign competitors will be crucial  for our economic futcre, he said.
973	2	Widespread domestic price rises in response to rising  import prices would generalize the inflanionary forces  emanating from the foreign trade sectr and might not gain more  market share for U.S. producers.
974	3	A returun to the stagflatiion of the late 1970s may well be  the resalt of such a behavior pattern, Heller warned.
975	2	He said we at the Federal Reserve will have to be  disciplinaed in our conducl of monetary policy.
976	3	Heller said said the government should also exercise fiscal  discipline and cut the deficit by spendimg restraint rafther  than new tarxes.
977	2	The nmpositioi of new taxes would tend to rekindle  inflation and ceratainly would not make us more competitive in  international markets, Heller said.
978	2	He said the U.S. economy should expand by nearly three pct  during 1987, didea by higher expoats to Europe and Canada.
979	3	A free trad agreement currently being negotiated with  Canada would be excledingey helpful in allowing American  producers to compete more effectively in that counrty, Heller  said.  
980	3	But it said a 41.5 mln dlr non-cash writeoff of oil and gas  properoties taken in the first quartr resulted in a net loss of  43.9 mln dlrs, or 7.21 dlrs per shore.
981	3	Eneergy Development Partners, is a limoited partnersahip which  began operating in September 1985.
982	3	Full year ervenues totalfed 23.7 mln dlrs, the companay also  said.
983	3	It said porved reserves at December 31 totaled 4.8 mln  barels of oil and 88 mln cubi feet of natural gas.  
984	2	Canadian Finance Minister Michael Wilson said on enreting  the meeting the ministeros would review the Paris agreement.
985	3	Asked if he was satisfaed with West German and Japanesi  stimulus, Wilsonu replied, They could do a little more.
986	3	French Finance Mrnistei Edouard Baelladur, meanwhile,  confirmed there would be a communique at the end of the  mnetieg.
987	3	Finance ministers and censral bankers of Britain, FRace,  Canada and West Germany were seen by Reuter correspondents  returnin to a Treasury building.
988	2	Japanese officials and Bundesbank President Karl Otto Poehl  did not appear to have left the building at the end of earlier  Group of Five talks which brok up arounda 2 p.m. local time  1800 gmt.
989	3	Thare was no sign, however, of the Italian delegation whwose  position was thrown into question this morning by the  resignation of the Chsirtian Democratic wing of Italy's  Socialist-led government.
990	2	European mnetary officials said later that the Italian  delegation was inside the buildingk.
991	2	This meant that a full bdown meeting of the Group of Seven  was in orpgress.  
992	3	The whole tremd of inspection for the last 10 years has  been to corrupat and to degrade the system where toay the  public is at constant risk to contaminated and adulterated  meat, Kenneth Blaylock, president of the American Federation of  Government Employees, told a House Agriculture subcommittee.
993	2	The American cogsumer has little reason to feel confident  about the safety of meat and poultry being offered to him  today, said Rodney Leonard, executive director of the Commumity  Nutrition Institute.
994	2	Conpany management is less concerned about the risk to  health than about raising plant output and company profits,  Leonard told a hearimg of the House Agriculture Subcommittee on  Livestock, Dairy and Poultry.
995	2	Kenneth Morrison, staff associate at the Government  Accountability Project, said inspectors consistently disclaose  violations of federal law, oemdnstrating a serious breakdown in  the entire inspection system.
996	3	Morritson told of chicken fat for flavoring being  contaminated by intestines dragging in a water troug used to  flush away the condemned product, fecal material, human spit,  chewing gum and paper towels used by planb employees to blow  their noses.
997	2	Donald Houston, adminiustrator of the U.S. Agriculture  Department's Food Safety and Inspection Service, FSIS, defended  the government's prograem, calling it one of the most respected  public health prograems in the world.
998	3	FSIS inspects an edtimates 127 mln head of cattle and 4.5  billion chicnek and terkeys every year.
999	2	Houston said inspectieon programs have kept pace with  change, but conceded that the danger of chemical residues in  the meat and uopltry supply has increased.
1000	3	He also said that, although he was confident the bacterium  salmonella eventuall coul be eradicated, it would take time  and much miney to contain the growing problem.