<!DOCTYPE lewis SYSTEM "lewis.dtd">
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5039" NEWID="16001">
<DATE> 9-APR-1987 16:55:59.00</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2652&#31;reute
f f BC-******TREASURY'S-BAKE   04-09 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS MACROECONOMIC INDICATORS NEED MORE PROMINENT ROLE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5040" NEWID="16002">
<DATE> 9-APR-1987 16:56:03.23</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2653&#31;reute
b f BC-******HOSPITAL-CORP-O   04-09 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>HOSPITAL CORP SAYS IT RECEIVED 47 DLR A SHARE OFFER FROM INVESTOR GROUP
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5041" NEWID="16003">
<DATE> 9-APR-1987 16:56:14.45</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2654&#31;reute
s f BC-BEVERLY-ENTERPRISES-&lt;   04-09 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>BEVERLY ENTERPRISES &lt;BEV> SETS REGULAR DIVIDEND</TITLE>
<DATELINE>    PASEDENA, Calif., April 9 - 
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay July 13
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5042" NEWID="16004">
<DATE> 9-APR-1987 16:59:15.05</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2662&#31;reute
f f BC-******TREASURY'S-BAKE   04-09 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS FLOATING EXCHANGE RATE SYSTEM NEEDS GREATER STABILITY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5043" NEWID="16005">
<DATE> 9-APR-1987 17:03:06.18</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2669&#31;reute
r f BC-/CRUDE-OIL-NETBACKS-U   04-09 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CRUDE OIL NETBACKS UP SHARPLY IN EUROPE, U.S.</TITLE>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>Crude oil netback values in complex
refineries rose sharply in Europe and firmed in the U.S. last
Friday from the previous week but fell sharply in Singapore,
according to calculations by Reuters Pipeline.
    The firmer tone to refining margins in Europe and the U.S.
relected higher prices for petroleum products, particularly
gasoline, and support from crude oil prices.
    Netback values for crude oil refined in Northern Europe
rose substantially following strong gains in gasoline prices
there. Brent is valued at 19.45 dlrs, up 56 cts a barrel or
three pct from the previous week.
    In the U.S. Gulf, sweet crudes rose in value by 14 cts to
19.33 dlrs for West Texas Intermediate, up about 0.7 pct.
    Sour grades in the U.S. Gulf showed an increase of 33 cts a
barrel for Alaska North Slope, up 1.7 pct.
    But netbacks for crude oil refined in Singapore fell
sharply, down 15 cts to as much as 68 cts a barrel as ample
distillate supplies weighed on petroleum product prices.
    Attaka in Singapore is valued at 18.55 dlrs, a decline of
68 cts a barrel or 3.5 pct from the previous week.
    For refineries in the Mediterranean, netback values were
mostly lower, with declines of seven to 14 cts. The value of
Kuwait crude fell 14 cts to 18.37 dlrs, while Iranian Light
fell 11 cts to 19.14 dlrs.
    On the U.S. West Coast, netback values for ANS CIF L.A.
also jumped sharply, up 40 cts a barrel or 2.2 pct to 18.82
dlrs on higher gasoline prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5044" NEWID="16006">
<DATE> 9-APR-1987 17:04:00.71</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2670&#31;reute
b f BC-TREASURY'S-BAKER-SAYS   04-09 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER SAYS SYSTEM NEEDS STABILITY</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>Treasury Secretary James Baker said
the floating exchange rate system has not been as effective as
had been hoped in promoting stability and preventing imbalances
from emerging in the global economy.
    In remarks before the afternoon session of the
International Monetary Fund's Interim Committee, Baker said he
was not suggesting that the system should be abandoned.
    "But I do suggest," he said, "that we need something to give
it more stability and to keep it headed in the right direction
when the wind shifts."
    He said that indicators can serve "as a kind of compass" but
added that structural indicators can help focus attention on
some policies.
    Baker, however, said the IMF "needs to move beyond
macroeconomic indicators and find structural indicators that
can help focus attention on some of the policies of specific
relevance to the imbalances we face today."
    The Treasury Secretary said that indicators should be given
a more prominent role in the annual economic reviews -- Article
IV consultations -- that the Fund performs.
    Baker also told the policy making group that it was time
for the IMF to adopt earlier recommendations making IMF
surveillance more relevant to national policymakers and the
public.
    "In particular, we urge increased publicity for IMF
appraisals developed in Article IV consultations, the use of
follow-up reports on country actions to implement IMF
recommendations, and greater use of special consultation
procedures," he said.
    Baker emphasized that indicators were a device "for moving
beyond rhetoric to action."
    He said they provide "more structure to the system, and
induce more discipline and peer pressure into the process of
policy coordination."
    He said the Fund's procedures for surveillance need to be
reviewed and updated to reflect the use of indicators.
    "This should be matter of priority for the executive board,"
he said.
    Baker also urged the Fund to develop alternative
medium-term economic scenarios for countries that "can help us
focus even more clearly on the most important imbalances, by
identifying options for addressing them and analyzing the
implications of these options."
    He said also that further work should be done on finding
paths that lead toward possible medium-term objectives.
    "If we are to take effective remedial action when there are
significant deviations from an intended course, then we must
have more definitive ways of indentifying the right course for
key variables," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5046" NEWID="16007">
<DATE> 9-APR-1987 17:07:18.35</DATE>
<TOPICS><D>acq</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2677&#31;reute
r f BC-NERCI-&lt;NER>-UNIT-CLOS   04-09 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>NERCI &lt;NER> UNIT CLOSES OIL/GAS ACQUISITION</TITLE>
<DATELINE>    PORTLAND, Ore., April 9 - </DATELINE><BODY>Nerco Inc said its oil and gas
unit closed the acquisition of a 47 pct working interest in the
Broussard oil and gas field from &lt;Davis Oil Co> for about 22.5
mln dlrs in cash.
    Nerco said it estimates the field's total proved developed
and undeveloped reserves at 24 billion cubic feet, or
equivalent, of natural gas, which more than doubles the
company's previous reserves.
    The field is located in southern Louisiana.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5047" NEWID="16008">
<DATE> 9-APR-1987 17:10:03.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uk</D><D>south-africa</D><D>namibia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>un</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2679&#31;reute
d f AM-TERRITORY-COUNCIL-1ST LD'*'*'*  04-09 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. AND BRITAIN VETO SANCTIONS AGAINST S.AFRICA</TITLE>
<DATELINE>    UNITED NATIONS, April 9 - </DATELINE><BODY>For the second time in seven
weeks, the United States and Britain vetoed a Security Council
resolution to impose mandatory sanctions against South Africa.
    Nine of the Council's 15 members voted for the draft, aimed
at forcing South Africa to implement an eight-year-old  U.N.
independence plan for Namibia (South West Africa), a vast,
sparsely populated territory rich in minerals.
    The U.S. and Britain were joined by West Germany in casting
negative votes. France, Italy and Japan abstained.
    The resolution called for comprehensive mandatory sanctions
because Pretoria insists on making Namibian independence
conditional on the withdrawal of more than 30,000 Cuban troops
from neighbouring Angola.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5048" NEWID="16009">
<DATE> 9-APR-1987 17:14:55.93</DATE>
<TOPICS><D>money-fx</D><D>grain</D><D>cotton</D><D>livestock</D><D>gold</D><D>silver</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F C G L M T
&#22;&#22;&#1;f2692&#31;reute
r f BC-media-summary   04-09 0127</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. DOLLAR LOSSES PROPEL BROAD COMMODITY GAINS</TITLE>
<AUTHOR>    by Keith Leighty, Reuters</AUTHOR>
<DATELINE>    CHICAGO, April 9 - </DATELINE><BODY>Commodities from gold to grains to
cotton posted solid gains in a flurry of buying today as losses
in the U.S. dollar and rising interest rates kindled fears of
inflation and economic instability.
    Gains were most pronounced on the Commodity Exchange in New
York, where gold jumped 12.40 dlrs and closed at 436.50 dlrs a
troy ounce, and silver 22.5 cents to 6.86 dlrs a troy ounce.
    A key factor behind the advance was anticipation that
inflation will be the only way for the major industrial nations
to halt the slide in the value of the U.S. dollar, said Steve
Chronowitz, director of commodity research with Smith Barney,
Harris Upham and Co., in New York.
    The dollar tumbled one day after top finance officials from
the seven largest industrial nations reaffirmed their
commitment to support its value, and despite reports of
intervention by the U.S. Federal Reserve Bank, traders said.
    Traders said it appears that the industrial nations, known
as the Group of Seven, lack the ability to change the long-term
direction of the currency markets.
    "Maybe they have some ideas or plans," said Chronowitz. "If
they do, it's not evident."
    "It looks like there's no cure but to let the free market
take values to where they should be.
    "One way or another, we will force our major trading
partners to stimulate their economies," as a measure to correct
the mounting U.S. trade deficit, Chronowitz said.
    "I think the markets believe, and have believed for a long
time, that the only recourse is to reflate at some point. It's
going to be a long and tedious process, but that's what's
happening," he said.
    The falling value of the dollar makes U.S. commodities
cheaper for foreign buyers, stimulating demand.
    At the same time, traders who are holding stocks and bonds
saw the value of their investments falling and many are turning
to commodities such as precious metals as a hedge, said Marty
McNeill, a metals analyst in New York with the trading house of
Dominick and Dominick.
    The reaction in the metal markets reverberated throughout
the commodities markets, as grains, livestock, and cotton
posted broad gains.
    Traders at the Chicago Board of Trade said attention in the
grain markets has shifted from concern about burdensome
supplies to the outlook that a lower dollar will stimulate
export demand.
    After the close of trading, the Agriculture Department
raised its estimate for grain imports by the Soviet Union by
two mln tonnes from the month-earlier report.
    Live hogs and frozen pork bellies posted sharp gains on the
Chicago Mercantile Exchange, while live cattle were moderately
higher.
    Analysts said several factors boosted hog prices. They said
hogs haven't been making the weight gains that are normal at
this time of year, and farmers have been too busy with field
work to market animals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5049" NEWID="16010">
<DATE> 9-APR-1987 17:15:43.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2694&#31;reute
u f BC-GENERAL-MOTORS-&lt;GM>-T   04-09 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MOTORS &lt;GM> TO IDLE 9,800 WORKERS</TITLE>
<DATELINE>    DETROIT, April 9 - </DATELINE><BODY>General Motors Corp said it will
temporarily lay off 9,800 workers at two plants next week.
    The layoffs will bring to 11,900 the number of General
Motors workers temporarily let go by the company.
    Indefinite layoffs remain unchanged at 37,000.
    General Motors said its Chevrolet-Pontiac-GM of Canada
plant at Okalhoma City, Okla., will be shut down April 13
through April 20 for inventory adjustment. Some 5,500 workers
will be idled at the plant.
    General Motors' Chevrolet-Pontiac-GM of Canada plant at
Doraville, Ga., will be closed for the same period for
inventory adjustment, with 4,300 workers affected.
    The company's Lakewood, Ga., plant has been shut since
December, with 2,100 workers on temporary layoff.
    General Motors said it will have one car plant and five
truck plants working on on overtime Saturday, April 11.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5050" NEWID="16011">
<DATE> 9-APR-1987 17:16:11.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2695&#31;reute
d f BC-TENNEX-INDUSTRIES-TO   04-09 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>TENNEX INDUSTRIES TO BUILD PLANT IN TENNESSEE</TITLE>
<DATELINE>    NASHVILLE, Tenn., April 9 - </DATELINE><BODY>&lt;Tennex Industries Inc>, a
Japanese owned supplier of air cleaners for the automotive
industry, said it will build a seven mln dlr plant in
Munfreesboro, Tenn.
    The company said the 37,500-square-foot plant will
initially supply parts to &lt;Nissan Motor Manufacturing Corp USA>
in nearby Smyna.
    The company said it hopes to eventually produce parts for
other U.S. car makers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5051" NEWID="16012">
<DATE> 9-APR-1987 17:16:58.84</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2697&#31;reute
u f BC-EGYPT-SEEKING-500,000   04-09 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>EGYPT SEEKING 500,000 TONNES CORN - U.S. TRADERS</TITLE>
<DATELINE>    KANSAS CITY, April 9 - </DATELINE><BODY>Egypt is expected to tender April 22
for 500,000 tonnes of corn for May through September shipments,
private export sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5052" NEWID="16013">
<DATE> 9-APR-1987 17:20:34.87</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2704&#31;reute
r f BC-TRUSTCORP-INC-&lt;TTCO>   04-09 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>TRUSTCORP INC &lt;TTCO> 1ST QTR NET </TITLE>
<DATELINE>    TOLEDO, Ohio, April 9 - 
    </DATELINE><BODY>Shr 67 cts vs 62 cts
    Net 9,160,000 vs 7,722,000
    Assets 4.5 billion vs four billion
    Note: Shr and net data are before accounting change
announced in 1986, which added 30 cts a share to year-ago 1st
qtr results.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5053" NEWID="16014">
<DATE> 9-APR-1987 17:28:02.76</DATE>
<TOPICS><D>grain</D><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f2720&#31;reute
r f BC-ny-grain-freights   04-09 0065</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
N.Y. GRAIN FREIGHTS - April 9
    Nidera took TBN 12,000 tonnes HSS Toledo to Casablanca
April 29-May 5 25.00 dlrs three days load 1,000 discharge
    Comanav took Radnik 20,000 tonnes Lakehead to Morocco April
15-25 22.00 dlrs 5,000 load 3,000 discharge
    Krohn took Akron 75,000 tonnes anygrains on 55 feet stowage
Mississippi River to Rotterdam May 1-10 8.05 dlrs 12 days all
purposes
    Continental took Legionario 40,000 tonnes River Plate to
Japan April 25-May 10 22.50 dlrs 2,000 load 5,000 free
discharge
    Garnac took Sokorri 30,000 tonnes U.S. Gulf to Constanza
April 15-25 17.00 dlrs load terms unknown 3,000 discharge
 reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5054" NEWID="16015">
<DATE> 9-APR-1987 17:28:46.65</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2724&#31;reute
h f BC-NAPA-VALLEY-BANCORP-&lt;   04-09 0019</UNKNOWN>
<TEXT>&#2;
<TITLE>NAPA VALLEY BANCORP &lt;NVBC> 1ST QTR NET</TITLE>
<DATELINE>    NAPA, Calif, April 9 -
    </DATELINE><BODY>Shr 20 cts vs 25 cts
    Net 487,000 vs 435,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5055" NEWID="16016">
<DATE> 9-APR-1987 17:29:59.20</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2728&#31;reute
h f BC-INTERNATIONAL-POWER-M   04-09 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL POWER MACHINES &lt;PWR> 4TH QTR LOSS</TITLE>
<DATELINE>    MESQUITE, Texas, April 9 - 
    </DATELINE><BODY>Shr loss 21 cts vs loss 28 cts
    Net loss 817,000 vs loss 1,058,000
    Revs 5,627,000 vs 7,397,000
    Year
    Shr loss 75 cts vs loss 1.36 dlrs
    Net loss 2,872,000 vs loss 5,200,000
    Revs 23.3 mln vs 21.1 mln
    Note: 1985 net includes 1,255,000 adjustment in inventory
valuations and 486,000 in cost-reduction expenses.
    Full name is International Power Machines Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5056" NEWID="16017">
<DATE> 9-APR-1987 17:33:46.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cboe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f2736&#31;reute
u f BC-CBOE-TO-LIST-NEW-S-AN   04-09 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CBOE TO LIST NEW S AND P OPTIONS &lt;NSX> APRIL 20</TITLE>
<DATELINE>    CHICAGO, April 9 - </DATELINE><BODY>The Chicago Board Options Exchange,
CBOE, said it will list new Standard and Poor 500 stock index
options beginning April 20 that will trade side-by-side with
the existing S and P 500 options &lt;SPX>.
    The new S and P 500 option contract differs from the
existing contract in that settlement of the new contract will
be based on the opening value of the index on expiration
Friday. Settlement of the existing contract is based on the
closing value of the index on expiration Friday.
    The new opening settlement S and P 500 options will be
offered only in months in which there are S and P 500 futures.
    Initial months to be listed in the new options will be
June, September and December, the CBOE said.
    Dissemination of the settlement of price of the new options
will be made through a special ticker symbol -- &lt;SET>, the
exchange said.
    There will initially be seven series of strike prices for
each contract month of the new options -- one strike price "at
the money," or near to the actual spot index value, and three
above and three below the spot index.
    Position limits in any combination of both the new and
existing S and P 500 options will be 15,000 contracts.
    The exchange said in the rare event that a stock does not
open on expiration Friday, the previous day's closing price of
that stock will be used to calculate the settlement value of
the index.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5057" NEWID="16018">
<DATE> 9-APR-1987 17:35:06.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2743&#31;reute
r f BC-EC-WARNS-AGAINST-PASS   04-09 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>EC WARNS AGAINST PASSAGE OF TEXTILE BILL</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>The European Community has told
Congress that if textile legislation injuring EC interests is
approved, there was no doubt the community would retaliate
against U.S. exports.
    Roy Denmam, head of the EC delegation here, issued the
warning in a letter to Senator Lloyd Bentsen, chairman of the
Finance Committee. A copy of the letter was provided Reuters.
    Denmam told Bentsen, a Texas Democrat, that if the textile
legislation passed on its own or was included in an omnibus
trade bill and injured EC interests, "there should be no doubt
that the EC will retaliate against the United States."
    He added that "at a time when U.S. textile exports to the EC
are growing rapidly, one result of such retaliation would be a
substantial reduction of U.S. exports and jobs."
    The textile legislation, backed strongly by the industry,
hard hit by imports, and by senators from textile-producing
states would impose new tough global quotas on textile imports
and for the first time include Europe in the quotas.
    Reagan Administration officials have also opposed the
textile legislation, saying that if it passed it would likely
prompt a presidential veto.
    Denman made his comments on the textile issue in a general
assessment of the Senate trade bill, titled S.490.
    He said he was concerned about provisions in the Senate
bill that would limit, if not eliminate, the president's
discretion if retaliating against nations for keeping their
home markets closed to foreign goods.
    U.S. Trade Representative Clayton Yeutter has also opposed
those provisions, arguing that presidential flexibility was
needed in order to be able to negotiate with countries to open
their markets, with retaliation being retained as a final, but
discretionary, weapon.
    The pending overall trade legislation would force the
Administration to consult often with Congress and seek its
approval during step-by-step GATT negotiations.
    He said "enactment of S. 490 would reduce the confidence of
other governments in America's commitment to multinational
trade."
    Summing up the senate legislation, Denman said "a number of
provisions of that bil may achieve the opposite of what is
intended and lead to dangerous consequences for the world and
the U.S. economy."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5058" NEWID="16019">
<DATE> 9-APR-1987 17:39:34.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cboe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2752&#31;reute
u f BC-CBOE-TO-LIST-NEW-S-AN   04-09 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CBOE TO LIST NEW S AND P OPTIONS APRIL 20</TITLE>
<DATELINE>    CHICAGO, April 9 - </DATELINE><BODY>The Chicago Board Options Exchange,
CBOE, said it will list new Standard and Poor 500 stock index
options beginning April 20 that will trade side-by-side with
the existing S and P 500 options.
    The new S and P 500 option contract differs from the
existing contract in that settlement of the new contract will
be based on the opening value of the index on expiration
Friday. Settlement of the existing contract is based on the
closing value of the index on expiration Friday.
    The new opening settlement S and P 500 options will be
offered only in months in which there are S and P 500 futures.
    Initial months to be listed in the new options will be
June, September and December, the CBOE said.
    Dissemination of the settlement price of the new options
will be made through a special ticker symbol -- &lt;SET>, the
exchange said.
    There will initially be seven series of strike prices for
each contract month of the new options -- one strike price "at
the money," or near to the actual spot index value, and three
above and three below the spot index.
    Position limits in any combination of both the new and
existing S and P 500 options will be 15,000 contracts.
    The exchange said in the rare event that a stock does not
open on expiration Friday, the previous day's closing price of
that stock will be used to calculate the settlement value of
the index.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5059" NEWID="16020">
<DATE> 9-APR-1987 17:39:43.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2753&#31;reute
u f BC-THREE-TRADERS-INDICTE   04-09 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>THREE TRADERS INDICTED FOR INSIDER TRADING</TITLE>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>A Grand Jury in Manhattan Federal Court
indicted three arbitrageurs, charging they swapped inside
information between their firms, Goldman Sachs and Co and
Kidder Peabody and Co, court documents showed.
    Robert Freeman, head of risk arbitrage at Goldman
Sachs and Co, Richard Wigton, an employee of Kidder Peabody Co
Inc, and Timothy Tabor, also formerly with Kidder, were charged
with trading on inside information between June 1984 and
January 1986. They were arrested in February.
    The indictments also alledged that Goldman Sachs and
Freeman made money on the insider trading scheme.
    According to the indictment, Freeman exchanged inside
information with Martin Siegel, who at the time was a vice
president of Kidder Peabody.
    Siegel pleaded guilty last February 13 to charges he
participated in the conspiracy. The indictment charged Siegel
passed on non-public information to both Wigton and Tabor from
Freeman.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5060" NEWID="16021">
<DATE> 9-APR-1987 17:41:35.88</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2762&#31;reute
r f BC-GREAT-AMERICAN-MGMT&lt;G   04-09 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT AMERICAN MGMT&lt;GAMI> HAS ATCOR&lt;ATCO> STAKE</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>Great American Management and
Investment Inc told the Securities and Exchange Commission it
acquired a 7.7 pct stake in Atcor Inc.
    Great American said it bought the stake for investment.
    It added that it has also considered--but not yet
decided--to buy additional Atcor shares, either in the open
market, in private transactions, through a tender offer or
otherwise.
    Great American said it paid about 6.1 mln dlrs for its
462,400 Atcor shares. It said its most recent purchases
included 191,400 shares bought March 18-April 6.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5061" NEWID="16022">
<DATE> 9-APR-1987 17:42:26.40</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2764&#31;reute
h f BC-RAI-RESEARCH-CORP-&lt;RA   04-09 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>RAI RESEARCH CORP &lt;RAC> 3RD QTR FEB 28 NET</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., April 9 - 
    </DATELINE><BODY>Oper shr one ct vs 13 cts
    Oper net 17,806 vs 312,692
    Revs 1,318,165 vs 2,239,349
    Nine mths
    Oper shr 27 cts cs 28 cts
    Oper net 640,156 vs 671,291
    Revs 5,612,818 vs 5,632,044
    Note: Oper excludes gain from discontinued operations of
15,598 for year-ago qtr and loss from discontinued operations
of 49,040 for year-ago nine mths.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5062" NEWID="16023">
<DATE> 9-APR-1987 17:42:36.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2765&#31;reute
r f BC-moore   04-09 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MOORE &lt;MCL> SEES SUBSTANTIAL 1987 PROFIT GAIN</TITLE>
<DATELINE>    TORONTO, April 9 - </DATELINE><BODY>Moore Corp Ltd expects 1987 profits from
continuing operations will exceed 1986 results and recover to
1985 levels when the company earned 152 mln U.S. dlrs or 1.70
dlrs a share, president M. Keith Goodrich said.
    "We'll have a substantial increase in earnings from
continuing operations," he told reporters after the annual
meeting. He said he expected profits would recover last year's
lost ground and reach 1985 results.
    In 1986, profits from continuing operations slumped to
139.5 mln dlrs or 1.54 dlrs a share. The total excluded losses
of 30 mln dlrs on discontinued operations.
    Goodrich said Moore is still actively looking for
acquisitions related to its core areas of business forms
manufacturing or handling.
    "We could do a large acquisition," he said when asked if
the company could raise as much as one billion dlrs for this
purpose.
    Chairman Judson Sinclair, answering a shareholder's
question, told the annual meeting that a special resolution
passed by shareholders to create a new class of preferred
shares would allow Moore to move quickly if it decided to
pursue an acquisition.
    "If we were to make a major acquisition ... it means we can
move with a certain expediency," Sinclair said.
    Asked if the resolution was designed to give Moore
protection from a possible hostile takeover, Sinclair said
only, "I know of no threat to the corporation at this time."
        
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5063" NEWID="16024">
<DATE> 9-APR-1987 17:47:39.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2772&#31;reute
r f BC-ARVIN-&lt;ARV>-RAISES-NU   04-09 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>ARVIN &lt;ARV> RAISES NUMBER OF AUTHORIZED SHARES</TITLE>
<DATELINE>    COLUMBUS, Ind., April 9 - </DATELINE><BODY>Arvin Industries Inc said its
shareholders at the annual meeting voted to increase authorized
common shares to 50 mln from 30 mln.
    The company told shareholders that the offering of 1.7 mln
common shares in January raised 50 mln dlrs, and the 500 shares
of variable rated preferred stock offered in February also
raised 50 mln dlrs. The company said it also placed 150 mln
dlrs in long-term debt in March.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5064" NEWID="16025">
<DATE> 9-APR-1987 17:49:07.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2775&#31;reute
r f BC-RAYTHEON-&lt;RTN>-WINS-U   04-09 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>RAYTHEON &lt;RTN> WINS U.S. NAVY CONTRACT</TITLE>
<DATELINE>    LEXINGTON, Mass., April 9 - </DATELINE><BODY>Raytheon Co said the United
States Navy awarded it a 215.3 mln dlr contract to produce
1,927 AIM/RIM-7M Sparrow Missile Guidance and Control Sections
and associated hardware.
    Under the contract, the company said it will provide
missiles and associated hardware to the U.S. Navy and Air Force
and to several U.S. allies.
    Raytheon said the contract represents the major share of
the fiscal 1987 competitive Sparrow missile procurement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5065" NEWID="16026">
<DATE> 9-APR-1987 17:50:16.86</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2777&#31;reute
r f BC-FIRM-HAS-14.8-PCT-OF   04-09 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRM HAS 14.8 PCT OF DECISION/CAPITAL FUND&lt;DCF></TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>Gabelli Group Inc said it and two
subsidiaries held a total of 295,800 Decision/Capital Fund Inc
shares or 14.8 pct of the total outstanding.
    It said the shares were held on behalf of investment
clients and it said it had no intention of seeking control of
the fund.
    Gabelli said its most recent purchases of Decision/Capital
Fund stock included 95,800 shares bought April 3-6 on the
Philadelphia Stock Exchange.
    Gabelli is an investment firm headquartered in New York
City. Its Gabelli and Co subsidiary is a brokerage firm.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5066" NEWID="16027">
<DATE> 9-APR-1987 17:51:34.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2779&#31;reute
r f BC-CONSUMERS-POWER-&lt;CMS>   04-09 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSUMERS POWER &lt;CMS> TO REDEEM BONDS</TITLE>
<DATELINE>    JACKSON, Mich., April 9 - </DATELINE><BODY>Consumers Power Co said it has 56
mln dlrs available to be used to redeem at par any 15 pct
series first mortgage bonds that are not exchanged under an
outstanding bond exchange program.
    The utility on March 17 offered to exchange its 15 pct
first mortgage bonds due March 1, 1994 for a new series of
first mortgage bonds, 9-1/4 pct due April 1, 1997. The offer
will expire April 14, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5067" NEWID="16028">
<DATE> 9-APR-1987 17:52:21.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2782&#31;reute
u f BC-SEMICONDUCTOR-BOOK-TO   04-09 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SEMICONDUCTOR BOOK TO BILL RATIO AT 1.21 PCT</TITLE>
<DATELINE>    CUPERTINO, Calif., April 9 - </DATELINE><BODY>The Semiconductor Industry
Association put the three-month average book-to-bill ratio at
1.21, which was above analysts' expectations and reflects the
sixth straight increase in this indicator of computer industry
activity.
    Average booking in the three month period ended in March
totaled 910.8 mln dlrs, up 15.6 pct from a month ago and the
highest bookings since September, 1984. March billings, or
computer chip sales in the month, totaled 912.1 mln dlrs, up
34.6 pct from a month ago, the association said. The three
month average billings totaled 751.3 mln dlrs, up 6.5 pct.
    March billings were the strongest recorded since November,
1984, the association said. The book to bill ratio, at 1.21,
was the highest since May, 1984, it noted.
    Preliminary total solid state shipments for the first
quarter of 1987 totaled 2.25 billion dlrs, up 4.9 pct from last
quarter and up 15.9 pct from last year's first quarter.
    Semiconductor Industry Association President Andrew
Procassini said the rise in the book to bill was due to a
substantial increase in U.S. bookings during March.
    "We believe that the bookings increase reflects growing
confidence by electronic equipment manufacturers that some
end-equipment market segments have improved substantially
during the first quarter," Procassini said in a statement.
    The association also revised its book-to-bill ratio
estimate for the three months ended in February to 1.12, from
1.13 earlier. It further revised the January book-to-bill
figure to 1.09 from 1.12 estimated earlier.
    The three-month average book-to-bill ratio of 1.21 for
March means for every 100 dlrs worth of product shipped,
computer chip maker received 121 dlrs in new orders.
    Drexel Burnham Lambert Inc analyst Michael Gumport said
association numbers indicate March orders were up 20 pct above
the normal seasonal level.
    The association does not break out March orders from its
three-month average, which it put at 910.8 mln dlrs.
    Gumport noted the three-month average bookings were well
above the 800-865 mln dlrs anticipated by the industry.
    He said semiconductor stock could rise five to ten pct on
the stock market open tomorrow, due to the positive numbers.
    "Skeptics are going to have to have some pretty strong
reasons not to like this group (of stocks)," Gumport said.
    Kidder Peabody and Co analyst Michael Kubiak said the ratio
indicates March orders at about one billion dlrs, which would
be the highest monthly order rate since April, 1984.
    He predicted at least a five pct rise in semiconductor
stocks on the open, and said the stock group could soar as high
as 15 pct during the session.
    "One month does not a boom-time make, but this is very good
news," he said.
    Kubiak attributed the stong semiconductor orders to
strength in the personal computer market, inventory restocking
and strong buying by distributors.
    Purchasing managers had been keeping computer chip
inventories low, due to the overcapacity in the industry and
the slow growth of the economy in general, analysts noted.
    The semiconductor industry has been in a slump for the past
three years.
    The analysts said the March order and sales numbers are the
strongest evidence yet that the trend may be turning.
    Nevertheless, they do not expect the Administration to
retreat from proposed sanctions against Japanese chip makers.
    They added, however, if the industry continues to improve,
it could mean the sanctions will be short term.
    Jack Beedle, President of In-Stat, an electronics industry
research firm, called the March numbers "excellent", but also
cautioned against excessive optimism.
    "I still believe caution should be the word, rather than
euphoria," said Beedle, adding that he has yet to see strong
indications from the general economy or the computer industry
that support a solid, long-term recovery.
    Beedle said while he thinks the semiconductor industry will
have a very good second quarter, he still thinks positive
shifts in exports and industrial production are needed to
sustain a recovery.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5068" NEWID="16029">
<DATE> 9-APR-1987 17:54:38.77</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2786&#31;reute
u f BC-PARTNERSHIP-BUYS-IPCO   04-09 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>PARTNERSHIP BUYS IPCO &lt;IHS> STAKE OF 6.8 PCT</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>MP Co, a New York investment
partnership, told the Securities and Exchange Commission it
bought a 6.8 pct stake in IPCO Corp common stock.
    The partnership said it acquired 346,600 IPCO shares,
paying 4.9 mln dlrs, because it believed the securities to be
"an attractive investment opportunity."
    It said it planned to regularly review its investment and
may in the future recommend business strategies or an
extraordinary corporate transaction such as a merger,
reorganization, liquidation or asset sale.
    The partnership is controlled by Marcus Schloss and Co Inc,
a New York brokerage firm, and Prime Medical Products Inc, a
Greenwood, S.C., medical supplies firm.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5069" NEWID="16030">
<DATE> 9-APR-1987 17:56:18.18</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2792&#31;reute
d f BC-DELMED-INC-&lt;DMD>-YEAR   04-09 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>DELMED INC &lt;DMD> YEAR LOSS</TITLE>
<DATELINE>    FREEHOLD, N.J., April 9 - 
    </DATELINE><BODY>Oper shr loss 30 cts vs loss 1.27 dlrs
    Oper net loss 8,648,000 vs loss 25.6 mln
    Revs 27.4 mln vs 33.3 mln
    Avg shrs 29.1 mln vs 20.1 mln
    Note: Oper excludes loss on provision for discontinued
operations of 971,000 vs 12.2 mln and loss from conversion of
debt 587,000 vs gain of 1,734,000.
    1985 oper excludes loss from pension plan liquidation of
631,000 and loss from discontinued operations of 1,015,000.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5070" NEWID="16031">
<DATE> 9-APR-1987 17:56:55.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2793&#31;reute
r f BC-MARCH-TRUCK-SALES-SAI   04-09 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>MARCH TRUCK SALES SAID UP 16.4 PCT</TITLE>
<DATELINE>    DETROIT, April 9 - </DATELINE><BODY>Retail sales of trucks in March rose
16.4 pct over the same month last year, said the Motor Vehicle
Manufacturers Association.
    The trade group said dealers sold 377,617 trucks in March,
up from 324,327 last year.
    Year-to-date truck sales were up 3.6 pct at 934,074 from
1986's 901,757.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5071" NEWID="16032">
<DATE> 9-APR-1987 18:01:43.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2798&#31;reute
r f AM-ASPIRIN (EMBARGOED)  04-09 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>DRUG INDUSTRY ATTACKED ON ASPIRIN ISSUE</TITLE>
<DATELINE>    CHICAGO, April 9 - </DATELINE><BODY>Elements of the drug industry endangered
the lives of children by pressuring the government to delay a
now common warning on the link between aspirin and an often
fatal disease, a doctor said.
    The warning involving Reye's Syndrome has since been
required on aspirin products under a Food and Drug
Administration (FDA) directive of one year ago, and now appears
on the labels of aspirin and aspirin-containing products.
    The industry under government coaxing began voluntarily
printing warning labels in mid-1985.
   
    But in an editorial in this week's Journal of the
American Medical Association, Dr Edward Mortimer of Case
Western Reserve University in Cleveland said some aspirin
manufacturers misled physicians and acted irresponsibly in
opposing the warning for several years before then.
    Mortimer's criticism was prompted by a new government study
published in the same issue of the Journal which said it had
found a "strong association" between aspirin and Reye's Syndrome.
    Reye's Syndrome, which kills about 20 per cent of its
victims, strikes following chicken pox, influenza and other 
illnesses. Symptoms include lethargy, belligerence and
excessive vomiting. Those who survive sometimes suffer brain
damage.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5072" NEWID="16033">
<DATE> 9-APR-1987 18:04:04.54</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2802&#31;reute
b f BC-cadillac-fairview-say   04-09 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CADILLAC FAIRVIEW SAYS IT HAS RECEIVED SOME ACQUISITION PROPOSALS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5073" NEWID="16034">
<DATE> 9-APR-1987 18:04:24.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2803&#31;reute
r f BC-GM-&lt;GM>-UNIT-GETS-BOE   04-09 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> UNIT GETS BOEING &lt;BA> CONTRACT</TITLE>
<DATELINE>    IRVINE, Calif., April 9 - </DATELINE><BODY>General Motors Corp's Hughes
Aircraft Co said it received a contract worth more than 20 mln
dlrs from Boeing Co's Boeing Commercial Airplane Co.
    Hughes will supply a cabin entertainment and service system
for Boeing's new 747-4000 jumbo jetliners.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5074" NEWID="16035">
<DATE> 9-APR-1987 18:05:37.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2804&#31;reute
d f BC-AUDEC-IN-PRIVATE-PLAC   04-09 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>AUDEC IN PRIVATE PLACEMENT OF STOCK, WARRANTS</TITLE>
<DATELINE>    SADDLEBROOK, N.J., April 9 - </DATELINE><BODY>&lt;Audec Corp> said it sold
privately 24 units, each consisting of 40,000 common shares and
40,000 redeemable common share purchase warrants, for a total
of 480,000 dlrs.
    Audec said the sale was part of its plan to place a total
of 28 units at 20,000 dlrs each.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5075" NEWID="16036">
<DATE> 9-APR-1987 18:09:50.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2808&#31;reute
u f BC-FRENCH-PROPOSE-NEW-WO   04-09 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH PROPOSE NEW WORLD BANK DEBT FACILITY</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>The French government said it 
proposed the creation of a new facility for development and for
debt reduction under the framework of the World Bank.
    In a statement issued in conjunction with the meeting of
the International Monetary Fund's policy-making Interim
Committee, the French said the "multilateral resources thus
collected would permit a partial refinancing on highly
concessional terms of previously rescheduled official debts."
    The statement said the "French government believes it is
necessary to take new steps to deal with the issue of the
poorest countries' debt."
    The French statement said that Paris club reschedulings
should have a lengthening of the repayment period up to between
15 and 20 years instead of the current limit of 10 years.
    And grace periods would be extended.
    "These measures would be confined to the poorest, heavily
indebted countries and would be decided on a case-by-case
basis," it said.
    The French also called for making the IMF's compensatory
financing facility for export shortfalls more concessional.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5076" NEWID="16037">
<DATE> 9-APR-1987 18:10:34.32</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2810&#31;reute
r f BC-cadillac-fairview-say   04-09 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>CADILLAC FAIRVIEW SAYS IT RECEIVED TAKEOVER BIDS</TITLE>
<DATELINE>    Toronto, April 9 - </DATELINE><BODY>&lt;Cadillac Fairview Corp Ltd> said it
received proposals to acquire the company, following its
announcement last August that it had retained investment
dealers to solicit offers for all outstanding common shares.
    Cadillac Fairview said the offers are subject to
clarification and negotiation and offered no further details.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5077" NEWID="16038">
<DATE> 9-APR-1987 18:16:05.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2816&#31;reute
r f BC-ONE-CHRYSLER-&lt;C>-PLAN   04-09 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>ONE CHRYSLER &lt;C> PLANT TO WORK OVERTIME</TITLE>
<DATELINE>    DETROIT, April 9 - </DATELINE><BODY>Chrysler Corp said one of its U.S. car
and truck assembly plants will work overtime next week.
    Six of its seven U.S. facilities will work during the week.
The plant on overtime, both during the week and on Saturday,
April 11, is the company's Sterling Heights, Mich., factory.
    The company's U.S. plants and offices will be closed
Friday, April 17, and Monday, April 20, for the Good Friday and
Martin Luther King Jr. holidays.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5078" NEWID="16039">
<DATE> 9-APR-1987 18:19:25.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2817&#31;reute
d f BC-EC-WARNS-AGAINST-PASS   04-09 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>EC WARNS AGAINST PASSAGE OF TEXTILE BILL</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>The European Community (EC) will
retaliate against U.S. textile exports if Congress passes trade
legislation damaging European interests, an EC official warned
today.
    Roy Denman, head of the EC delegation here, issued the
warning in a letter to Senator Lloyd Bentsen, chairman of the
Finance Committee. A copy was provided to Reuters.
    The bill, backed by the textile industry and senators from
textile-producing states, would impose global quotas on textile
imports and for the first time include Europe.
    Denman said he was concerned about provisions in the bill
that would limit, if not eliminate, the president's discretion
in retaliating against nations that keep their home markets
closed to foreign goods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5079" NEWID="16040">
<DATE> 9-APR-1987 18:20:35.91</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2818&#31;reute
u f BC-ny-tankers   04-09 0084</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
N.Y. TANKERS - April 9
    Tennaco took Nicopolis part cargo 50,000 tons dirty April
12 Caribbean to U.S. Gulf worldscale 130
    Exxon took Brazil Glory 77,000 tons dirty April 17 East
Coast Mexico to U.S. Atlantic Coast worldscale 75
    Champlin took Tamba Maru part cargo 57,000 tons crude April
18 Caribbean to U.S. Gulf worldscale 105
    Pecten took World Cliff part cargo 74,500 tons dirty April
14 Sullom Voe to U.S. Atlantic Coast/U.S. Gulf worldscale 70
for Atlantic Coast worldscale 67.5 for Gulf
    Crown Petroleum took British Skill (Gotco relet) part cargo
100,000 tons dirty April 18 West Africa to U.S. Gulf worldscale
63
    Oroleum took Marika P. part cargo 59,000 tons dirty April
16 Caribbean to U.S. Atlantic Coast/U.S. Gulf rate not reported
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5080" NEWID="16041">
<DATE> 9-APR-1987 18:21:04.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2819&#31;reute
d f BC-WINTERHALTER-&lt;WNTLC>   04-09 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>WINTERHALTER &lt;WNTLC> HOLDERS OKAY TAKEOVER</TITLE>
<DATELINE>    ANN ARBOR, Mich., April 9 - </DATELINE><BODY>Winterhalter Inc said its
shareholders approved the 525,000 dlr acquisition of
Winterhalter by Interface Systems Inc &lt;INTF>.
    The acquisition would be for 15 cts per Winterhalter share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5081" NEWID="16042">
<DATE> 9-APR-1987 18:24:01.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2822&#31;reute
d f BC-LIBERTY-FINANCIAL-&lt;LF   04-09 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBERTY FINANCIAL &lt;LFG> PRESIDENT TO RESIGN</TITLE>
<DATELINE>    HORSHAM, Pa., April 9 - </DATELINE><BODY>Harold H. Kline, 48, will resign on
May one as president of Liberty Financial Group Inc and its
Liberty Savings Bank unit to pursue other business
opportunties, the company said.
    The company said Kline's post will be filled by Charles G.
Cheleden, chairman and chief executive officer.
    Kline will continue to serve on the boards of Liberty
Financial and Liberty Savings, the company added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5082" NEWID="16043">
<DATE> 9-APR-1987 18:25:31.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2824&#31;reute
r f BC-IMMUNOMEDICS-&lt;IMMU>-T   04-09 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>IMMUNOMEDICS &lt;IMMU> TO SELL COMMON STOCK</TITLE>
<DATELINE>    NEWARK, N.J., April 9 - </DATELINE><BODY>Immunomedics Inc said it filed a
registration statement with the Securities and Exchange
Commission for the proposed sale of 2,500,000 shares of common
stock.
    The company said it will sell 2,100,000 shares and that
certain stockholders will sell the remaining 400,000 shares.
    Proceeds from the offering will be used for product
development, basic research, staff expansion, prepayment of
debt, capital expenditures and working capital, the company
said. The offering will be co-managed by E.F. Hutton and Co Inc
and First Boston Corp, Immunomedics said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5083" NEWID="16044">
<DATE> 9-APR-1987 18:29:26.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2826&#31;reute
u f BC-MOBIL-(MOB)-WILL-NOT   04-09 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> WILL NOT INCREASE BUDGET</TITLE>
<DATELINE>    DALLAS, April 9 - </DATELINE><BODY>Mobil Corp Chairman Allen E. Murray said
the company's exploration and production budget would not be
increased in the foreseeable future as it is "operating on the
assumption that (oil) prices will remain on the lower end of
the spectrum.
     "Our budget is at about the same level as it was last year
and I think it is the right amount," said Murray who was in
town for ceremonies celebrating the consolidation of Mobil's
domestic exploration and production operations into a new,
locally-based subsidiary.
     Last year, Mobil spent a total of 2.13 billion dlrs on
exploration and production, 341 mln dlrs in the United States
and 1.79 billion overseas.
     Murray said the new subsidiary, Mobil Exploration and
Production U.S. Inc., was not created as "part of any cost
saving effort" but instead to "increase our efficiency and
ability to stay ahead of the pack."
     The consolidation will, however, save Mobil about 15 mln
dlrs annually once relocation and reorganization costs have
been absorbed, according to A.F. Stancell, vice president of
U.S. producing operations for the company.
     Mobil, the nation's second largest oil company, responded
to the collapse of oil prices last year -- from 30 dlrs a
barrel at end-1985 to as low as 10 dlrs in mid-1986 -- by
laying off 5,500 people and cutting its budget in midyear by 27
percent, or 1.1 billion dlrs.
     Of that amount, more than 900 mln dlrs was eliminated from
its exploration and spending spending plans.
     But the company reported an increase in profits in 1986
over 1985 and a jump in per share earnings to 3.45 dlrs a share
from 2.55 dlrs.           
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5084" NEWID="16045">
<DATE> 9-APR-1987 18:31:32.77</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2833&#31;reute
d f BC-&lt;american-eagle-petro   04-09 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;AMERICAN EAGLE PETROLEUMS LTD> YEAR LOSS</TITLE>
<DATELINE>    Calgary, Alberta, April 9 -
    </DATELINE><BODY>Shr loss 10 cts vs profit 17 cts
    Net loss 1,546,000 vs profit 4,078,000
    Revs 22.6 mln vs 38.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5085" NEWID="16046">
<DATE> 9-APR-1987 18:33:20.67</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2836&#31;reute
f f BC-******TREASURY'S-BAKE   04-09 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TREASURY'S BAKER SAYS DEBTOR NATIONS NEED TIMELY DISBURSEMENTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5086" NEWID="16047">
<DATE> 9-APR-1987 18:36:11.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2837&#31;reute
r f BC-GM'S&lt;GM>-HUGHES-AIRCR   04-09 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>GM'S&lt;GM> HUGHES AIRCRAFT HAS BOEING&lt;BA> CONTRACT</TITLE>
<DATELINE>    IRVINE, Calif, April 9 - </DATELINE><BODY>General Motors' Hughes Aircraft Co
said it was awarded a contract worth more than 20 mln dlrs by
Boeing's Boeing Commercial Airplane Co to provide an advanced
cabin entertainment and service system for Boeing's new 747-400
airliners.
    Hughes said the new system uses advanced digital electronic
techniques and also adds cabin lighting control, cabin advisory
signs and seat information.
    Hughes said the first 747-400 is scheduled to be completed 
in early 1988.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5087" NEWID="16048">
<DATE> 9-APR-1987 18:36:43.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f2838&#31;reute
u f BC-REAGAN-HITS-HOUSE-PAS   04-09 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN HITS HOUSE-PASSED BUDGET</TITLE>
<DATELINE>     WEST LAFAYETTE, Ind, April 9 - </DATELINE><BODY>President Reagan criticized
the House-passed budget by saying the Democratic budget plan
was just business as usual.
    The budget cut defense by eight billion dlrs and called for
18 billion dlrs in new taxes.
    He said the defense cut potentially theratened national
security and was asking the American taxpayers to pay for the
Democrats' excesses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5088" NEWID="16049">
<DATE> 9-APR-1987 18:36:56.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2839&#31;reute
r f BC-S/P-DOWNGRADES-ZENITH   04-09 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P DOWNGRADES ZENITH ELECTRONIC &lt;ZE></TITLE>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>Standard and Poor's said it lowered its
rating on 190 mln dlrs of Zenith Electronic Corp debt because
of continued poor earnings results and increased debt leverage.
    Among the rating changes, the company's senior debt was
lowered to BB-plus from BBB-plus.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5089" NEWID="16050">
<DATE> 9-APR-1987 18:39:02.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2841&#31;reute
r f BC-MOODY'S-DOWNGRADES-RE   04-09 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S DOWNGRADES REPUBLICBANK &lt;RPT></TITLE>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>Moody's Investors Service said it
lowered the ratings on 464 mln dlrs of long-term debt issued by
RepublicBank Corp and its two principal subsidiaries but
upgraded 451 mln dlrs of securities of Interfirst Corp &lt;IFC>.
    The rating adjustments are based on the likelihood that the
proposed merger of the two Texas banks will be consummated.
Moody's said Interfirst is considerably the weaker of the two
institutions.
    Among the rating changes, RepublicBank's senior debt was
downgraded to BA-1 from BAA-1 while Interfirst's was raised to
BA-1 from B-1.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5090" NEWID="16051">
<DATE> 9-APR-1987 18:39:51.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2842&#31;reute
b f BC-TREASURY'S-BAKER-CALL   04-09 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER CALLS FOR MORE BANK FLEXIBILITY</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>Treasury Secretary James Baker said
that commercial banks need to develop more flexibility in their
concerted lending mechanisms "to help assure continued
participation in new money packages."
    He said that major debtor nations need to be able to count
on receiving timely disbursements on new loans essential to
support well-conceived economic programs.
    His remarks were made to the afternoon session of the
International Monetary Fund's policy making Interim Committee.
    Baker said, "The sense of urgency and willingness to
cooperate in support of a larger general interest that helped
to carry us through the difficult crisis period of 1982 and
1983 is now less evident."
    He said to address this problem, it is important for the
commercial banks to "develop a menu of alternative new money 
options from which all banks with debt exposure can choose in
providing continuing support for debtor reforms."
    He said the "continued implementation of the debt strategy
may well rest on their doing so."
    Baker also said that growth prospects for the lowest income
countries remain an issue of "critical concern to the United
States."
    He said that he intended to address the problem of poor
country prospects in greater detail at tomorrow's meeting of
the joint IMF-World Bank Devlopment Committee.
    Baker said, however, that ministers should guard against
what appear to be magical solutions to the complex debt
problem.
    "I want to stress the need for all to guard against the
ephemeral attraction of magical solutions, which may appear as
tantalizing alternatives to the rigorous realities of grappling
with our debt problems," he said.
    But he emphasized that the only lasting progress is to
approach each situation on a case-by-case basis, "bringing to
bear the policies and financing needed to bring the economy
back to sustained economic growth."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5091" NEWID="16052">
<DATE> 9-APR-1987 18:41:59.03</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>chile</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2844&#31;reute
u f BC-chilean-trade-surplus   04-09 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CHILEAN TRADE SURPLUS NARROWS SLIGHTLY IN FEBRUARY</TITLE>
<DATELINE>    Santiago, april 9 - </DATELINE><BODY>chile's trade surplus narrowed to 102.2
mln dlrs in february, from 105.4 mln dlrs in the same month
last year, but it was above the 18.2-mln-dlr surplus recorded
in january 1987, the central bank said.
    Exports in february totalled 379.4 mln dlrs, 17.2 pct above
the january figure. Imports fell 9.2 pct from the previous
month to 277.2 mln dlrs. The figures for the same month last
year were 314 mln and 208.6 mln dlrs, respectively.
    The accumulated trade surplus over the first two months of
1987 stands at 120.4 mln dlrs against 132.8 mln dlrs the
previous year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5092" NEWID="16053">
<DATE> 9-APR-1987 18:42:19.11</DATE>
<TOPICS><D>interest</D><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2845&#31;reute
u f BC-ANALYSTS-DOUBT-FED-FI   04-09 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>ANALYSTS DOUBT FED FIRMED DESPITE BORROWING RISE</TITLE>
<AUTHOR>    By Martin Cherrin, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>Economists said that they doubt the
Federal Reserve is firming policy to aid the dollar, despite
higher discount window borrowings in the latest two-week
statement period and very heavy borrowings Wednesday.
    Data out today show net borrowings from the Fed averaged
393 mln dlrs in the two weeks to Wednesday, up from 265 mln
dlrs in the prior statement period. Wednesday borrowings were
1.4 billion dlrs as Federal funds averaged a high 6.45 pct.
    "One could make a case that the Fed is firming, but it
probably isn't," said William Sullivan of Dean Witter Reynolds.
    Sullivan said some may assume the Fed has firmed policy
modestly to support the dollar because net borrowings in the
two-weeks to Wednesday were nearly 400 mln dlrs after averaging
around 250 mln dlrs over the previous two months.
    However, the Dean Witter economist noted that the latest
two-week period included a quarter end when seasonal demand
often pushes up borrrowings.
    "Some might argue that the Fed was firming policy, but it
looks like it tried to play catchup with reserve provisions
late in the statement period and didn't quite make it," said
Ward McCarthy of Merrill Lynch Capital Markets.
    A Fed spokesman told a press press conference today that
the Fed had no large net one-day miss of two billion dlrs or
more in its reserve projections in the week ended Wednesday.
    Still, McCarthy said it may have had a cumulative miss in
its estimates over the week that caused it to add fewer
reserves earlier in the week than were actually needed.
    The Fed took no market reserve management action last
Thursday and Friday, the first two days of the week. It added
temporary reserves indirectly on Monday via two billion dlrs of
customer repurchase agreements and then supplied reserves
directly via System repurchases on Tuesday and Wednesday.
    Based on Fed data out today, economists calculated that the
two-day System repurchase agreements the Fed arrranged on
Tuesday totaled around 5.9 billion dlrs. They put Wednesday's
overnight System repos at approximately 3.4 billion dlrs.
    "It is quite clear that the Fed is not firming policy at
this time," said Larry Leuzzi of S.G. Warburg and Co Inc.
    Citing the view shared by the other two economists, Leuzzi
said the Fed cannot really afford to seriously lift interest
rates to help the dollar because that would harm already weak
economies in the United States and abroad and add to the
financial stress of developing countries and their lenders.
    "Those who believe the Fed tightened policy in the latest
statement period have to explain why it acted before the dollar
tumbled," said McCarthy of Merrill Lynch.
    He said the dollar staged a precipitous drop as a new
statement period began today on disappointment yesterday's
Washington meetings of international monetary officials failed
to produce anything that would offer substantive dollar aid.
    In fact, currency dealers said there was nothing in
Wednesday's G-7 communique to alter the prevailing view that
the yen needs to rise further to redress the huge trade
imbalance between the United States and Japan.
    The economists generally agreed that the Fed is aiming for
steady policy now that should correspond to a weekly average
Fed funds rate between six and 6-1/8 pct. This is about where
the rate has been since early November.
    "I'm not so sure that the Fed is engineering a tighter
policy to help the dollar, as some suspect," said Sullivan of
Dean Witter.
    If it is, however, he said that Fed probably has just
nudged up its funds rate goal to around 6.25 to 6.35 pct from
six to 6.10 pct previously.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5093" NEWID="16054">
<DATE> 9-APR-1987 18:45:25.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2848&#31;reute
r f BC-PAKISTAN-GETS-70-MLN   04-09 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>PAKISTAN GETS 70 MLN DLR WORLD BANK LOAN</TITLE>
<DATELINE>    WASHINGTON, April 9 - The World Bank said it approved a 70-</DATELINE><BODY>mln-dlr, 20-year loan to assist Pakistan in a project designed
to improve power plant efficiency.
    Noting that a shortage of power constrains Pakistan's
economic development, the Bank said one objective of the
project is to provide at least 200 megawatts of additional
generating capacity.
    Another objective is to improve the efficiency with which
hydrocarbons are used by Pakistan's Water and Power Development
Authority (WAPDA) in power production, it said. One effect of
this would be reduced atmospheric pollution.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5094" NEWID="16055">
<DATE> 9-APR-1987 18:47:26.32</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2853&#31;reute
h f BC-VALEX-PETROLEUM-INC-&lt;   04-09 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>VALEX PETROLEUM INC &lt;VALP> YEAR DEC 31</TITLE>
<DATELINE>    DENVER, Colo, April 9 -
    </DATELINE><BODY>Shr loss six cts vs loss 84 cts
    Net loss 219,632 vs loss 16.3 mln
    Revs 1.4 mln vs 2.8 mln
    NOTE:1985 net includes 15.5 mln dlrs of writedowns and tax
benefit of 51,294.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5095" NEWID="16056">
<DATE> 9-APR-1987 18:50:11.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2855&#31;reute
h f BC-VALEX-PETROLEUM-&lt;VALP   04-09 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>VALEX PETROLEUM &lt;VALP> RECLASSIFIES DEBT</TITLE>
<DATELINE>    DENVER, Colo, April 9 - </DATELINE><BODY>Valex Petroleum Inc said its 1.3
mln dlrs in long-term debt with a commercial bank was
reclassified as a current liability, which resulted in its
auditors giving it a qualified opinion.
    Earlier, Valex reported a net loss 219,632 for 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5096" NEWID="16057">
<DATE> 9-APR-1987 18:52:32.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2856&#31;reute
h f BC-DATA-ARCHITECTS-&lt;DRCH   04-09 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA ARCHITECTS &lt;DRCH> TO MAKE OFFERING</TITLE>
<DATELINE>    WALTHAM, Mass, April 9 - </DATELINE><BODY>Data Architects inc said it
intends to make a public offering of 850,000 shares of its
common stock, of which 672,000 shares will be sold by the
company and 178,000 by certain shareholders.
    Proceeds will be used for general corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5097" NEWID="16058">
<DATE> 9-APR-1987 18:58:51.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2860&#31;reute
h f BC-FIVE-DIRECTORS-OF-TER   04-09 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>FIVE DIRECTORS OF TERRAPET ENERGY RESIGN</TITLE>
<DATELINE>    DALLAS, April 9 - </DATELINE><BODY>&lt;Terrapet Energy Corp> said five
directors resigned because they could not obtain directors and
officers liability insurance.
    It said the directors are Dean R. Fellows, Frederick B.
Hegi Jr, W.D. Masterson, Thomas Sturgess and John C. Thomas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5098" NEWID="16059">
<DATE> 9-APR-1987 19:03:16.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2863&#31;reute
u f BC-GOLDMAN,-SACHS-COMMEN   04-09 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>GOLDMAN, SACHS COMMENTS ON FREEMAN INDICTMENT</TITLE>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>Goldman, Sachs and Co, responding to
the indictment earlier today of Robert M. Freeman, who remains
head of its risk arbitrage unit, said it believes the
44-year-old executive did not violate insider trading laws.
    "Based on all we now know, we continue to believe in him
and to believe that he did not act illegally," the company said
in a statement.
    Freeman was indicated by a federal grand jury along with
two other top Wall Street executives, Richard Wigton and
Timothy Tabor, for allegedly swapping insider information in a
scheme that produced millions in illegal profits.
    The company said it based in belief in Freeman's innocence
on an investigation conducted by its independent outside
counsel after Freeman was arrested in February.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5099" NEWID="16060">
<DATE> 9-APR-1987 19:05:53.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>mauritius</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2867&#31;reute
r f BC-MAURITIUS-GETS-25-MLN   04-09 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>MAURITIUS GETS 25 MLN DLR WORLD BANK LOAN</TITLE>
<DATELINE>    WASHINGTON, April 9 - </DATELINE><BODY>The World Bank said it approved a 25
mln dlr structural adjustment loan for Mauritius to aid that
country's industrial sector.
    The Bank said the 17-year loan will support policy reforms
designed to help increase the efficiency of the country's
manufacturing sector, develop export enterprises and encourage
efficient use of resources.
    It added, "The increased availability of foreign exchange
for imports is expected to help the expansion of industrial
output and exports."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5100" NEWID="16061">
<DATE> 9-APR-1987 19:24:29.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tose</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f2871&#31;reute
r f BC-power   04-09 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>TORONTO FINANCIAL DISTRICT HIT BY POWER OUTAGE</TITLE>
<DATELINE>    TORONTO, April 9 - </DATELINE><BODY>Toronto's financial district, the
business heart of Canada, slowed to a near halt this afternoon
after being struck by a power blackout, utility and business
officials said.
    The blackout occurred around 1515 EDT in about an
eight-square-block section of the city's downtown core, home to
most of the city's skyscrapers, containing the  headquarters of
many of Canada's major corporations and financial institutions.
    Ontario Hydro spokeswoman Christina Warren told Reuters the
blackout occurred when a transformer cable went down during
routine maintenance at a downtown hydroelectricity station.
Power was restored after 10 minutes.
    The power loss halted floor trading for 15 minutes on the
Toronto Stock Exchange, Canada's largest equity market,
although computerized trading - accounting for about 20 per
cent of the Exchange's normal volume - continued, Toronto Stock
Exchange official John Kolosky said.
    Bank operations were also affected. The headquarters or
major offices of Canada's six major banks line a small section
of Bay Street, the Wall Street of Canada.
    Bank of Montreal spokesman Brian Smith told Reuters the
blackout shut down electronic banking machines and caused a
minor slowdown in money trading operations, although "all in all
we were not seriously affected."
    Officials at various downtown skyscrapers said the blackout
also briefly shut down elevators and disrupted business in the
downtown core's extensive network of underground shopping
malls.
    Workers at some of the buildings said several people were
briefly trapped on elevators, but police and firefighters
reported no serious problems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5101" NEWID="16062">
<DATE> 9-APR-1987 19:36:34.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2876&#31;reute
r f BC-U.S.-THRIFT-OFFICIAL   04-09 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. THRIFT OFFICIAL URGES MORE LENDER INSURANCE</TITLE>
<DATELINE>    NEW YORK, April 9 - </DATELINE><BODY>The Administration's 15 billion dlr
plan to recapitalize the Federal Savings and Loan Insurance
Corporation is needed to ensure the future profitablity of the
U.S. thrift industry, according to a top industry regulator.
    "Today thrifts in overwhelming numbers are profitable," 
Shannon Fairbanks, executive chief of staff of the Federal Home
Loan Bank Board told a thrift industry conference.
    "But every thrift is paying a market tax for the inabliity
of regulators to deal with problems carried forward from the
past," she said, referring to the premium that thrifts have to
pay in the marketplace to entice deposits away from banks.
    "The industry wants to see a five billion dlr plan passed
now, and then to wait and see what happens," Fairbanks said.
"They're saying, 'we don't want to pay more right away.' The
argument is that it's a drain on the industry."
    "But the dollars paid out can be recaptured in the
reduction in the market tax differential," she said. "The cost
of recapitalization to the industry would be recaptured in
bottom line profitability."
    Fairbanks said that the public's confidence in thrift
instititutions eroded with the financial difficulties of
savings and loan associations in Ohio and Maryland in 1985.
    As thrift institutions in economically distressed areas
like Texas have continued to fall on hard times, this has
increased depositors' demand for a higher premium on deposits
in savings and loans compared with premiums paid on deposits in
commercial banks, she said.
    Before 1983, thrift institutions paid a 25 basis point
yield differential on savings deposits over that offered by
commercial banks as mandated by U.S. financial regulations.
    With the elimination in 1983 of regulations that had drawn
strict lines between savings and loans and commercial banks,
the gap widened to as much as 50 to 75 basis points as wary
depositors demanded a higher premium to place their funds in
thrift institutions, Fairbanks said.
    "The market tax paid by today's thrift industry is the most
significant impediment to future profits," she said.
    Depositor confidence is also eroded by the existence of
thrifts that are failing but manage to stay in business by
paying deposit rates well above prevailing market rates.
    Presently, the FHLBB cannot afford to close failing
institiutions "because we can't afford it with the current
FSLIC fund," she said.
    Fairbanks estimated that the high market tax differential
paid by thrifts will drop by at least 10 to 20 basis points
with an adequate recapitalization of FSLIC because it will help
restore this lost confidence.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>


