===================================Group=================================##1 1 AT N. E. C. THE NEED FOR INTERNATIONAL MANAGERS WILL KEEP RISING 2 THE COMPANY HAS FIVE HUNDRED JAPANESE MANAGERS OVERSEAS MOST OF THEM IN KEY POSITIONS AND EXPECTS THE NUMBER TO RISE SIXTY PERCENT IN THE NEXT FIVE YEARS 3 ABOUT HALF THESE MANAGERS ARE IN THE U. S. 4 R. L. I. CORPORATION A PEORIA ILLINOIS BASED INSURANCE HOLDING COMPANY WILL BEGIN TRADING FRIDAY ON THE BIG BOARD UNDER THE SYMBOL R. L. I. 5 THE COMPANY PREVIOUSLY TRADED OVER THE COUNTER 6 TWO OTHER ISSUES BEGAN TRADING RECENTLY ON THE BIG BOARD 7 THE AGENCY ISN'T LIKELY TO TAKE ANY ACTION UNTIL THE UNION'S RANK AND FILE VOTES ON THE CONTRACT IN TWO TO THREE WEEKS 8 UNION OFFICIALS EXPECT RATIFICATION 9 A P. B. G. C. SPOKESWOMAN DECLINED COMMENT 10 DESPITE THE JULY DECLINE DURABLE GOODS ORDERS REMAINED SEVEN POINT SEVEN PERCENT ABOVE THE YEAR EARLIER LEVEL 11 ECONOMISTS WERE ENCOURAGED BY A ONE POINT SIX PERCENT INCREASE IN NEW ORDERS FOR NON DEFENSE CAPITAL GOODS AN IMPORTANT INDICATOR OF FUTURE BUSINESS INVESTMENT 12 THE RISE IN THAT CATEGORY IN JULY WAS LED BY INCREASED ORDERS FOR AIRCRAFT AND PARTS NONELECTRICAL MACHINERY LUMBER AND FURNITURE 13 INTEREST RATES ROSE ON SHORT TERM TREASURY BILLS SOLD BY THE GOVERNMENT YESTERDAY AT ITS REGULAR WEEKLY AUCTION 14 THE AVERAGE RATE ON NEW THIRTEEN WEEK TREASURY BILLS INCREASED TO SIX POINT ONE TWO PERCENT FROM FIVE POINT NINE SEVEN PERCENT AT THE PREVIOUS AUCTION LAST WEEK 15 THE AVERAGE RATE ON NEW TWENTY SIX WEEK BILLS ROSE TO SIX POINT ONE SIX PERCENT FROM SIX POINT ONE TWO PERCENT 16 ANALYSTS TOO GENERALLY PLAYED DOWN THE EFFECT ON BANKS 17 IN A FUNDAMENTAL SENSE THE EQUITY MARKETS HAVE VERY LITTLE TO DO WITH WHAT GOES ON IN THE COMMERCIAL BANKS 18 THERE SHOULDN'T BE ANY RISK TO THE BANKS IN THIS SORT OF STUFF SAID LAWRENCE COHN A BANKING ANALYST AT MERRILL LYNCH AND COMPANY 19 THE INDEPENDENT COMMITTEE WILL RECOMMEND THAT HOLDERS ACCEPT THE OFFER AT A MEETING EXPECTED TO BE HELD IN DECEMBER T. W. A. SAID 20 THE TRANSACTION REQUIRES APPROVAL OF A MAJORITY OF THE SHARES OF THE HOLDERS NOT AFFILIATED WITH MR. ICAHN 21 THE INVESTOR NOW OWNS SEVENTY THREE PERCENT OF THE COMPANY 22 TEXACO HAS THREE CHOICES A COMPANY ADVISER SAYS 23 IT CAN SIGN ONTO THE PLAN FILE A COMPETING PLAN OR TAKE A COMPLETELY PASSIVE ROLE THAT NEITHER ENDORSES NOR OPPOSES A PLAN 24 UNABLE TO AGREE ON FRIDAY THE BOARD MUST MEET AGAIN AT LEAST BY PHONE TO REGISTER ITS CHOICE 25 COMMERCE DEPARTMENT OFFICIALS NOTED HOWEVER THAT AUTO IMPORTS USUALLY RISE IN OCTOBER AS DEALERS FILL THEIR INVENTORIES WITH NEW MODELS 26 THE RISE IN AUTO IMPORTS ALSO REFLECTS HIGHER PRICES FOR IMPORTED CARS 27 PRICES ARE GOING UP SAID GEORGE C. EADS VICE PRESIDENT AND CHIEF ECONOMIST AT GENERAL MOTORS CORPORATION 28 WHAT WE DON'T KNOW IS HOW MUCH IS PRICE AND HOW MUCH IS VOLUME 29 RATES FELL ON SHORT TERM TREASURY BILLS 30 THE RATE ON THE LATEST THREE MONTH BILLS DECLINED TO SIX POINT FOUR THREE PERCENT BID FROM AN AVERAGE OF SIX POINT FIVE THREE PERCENT SET AT TUESDAY'S AUCTION 31 THE RATE ON SIX MONTH BILLS FELL TO SIX POINT SEVEN THREE PERCENT FROM SIX POINT EIGHT THREE PERCENT 32 DURABLE GOODS REPORTS FREQUENTLY ARE HIGHLY VOLATILE FROM MONTH TO MONTH 33 MANY ANALYSTS CITE AN EXPECTED INCREASE IN AIRCRAFT ORDERS AS A BIG REASON FOR THE ANTICIPATED JUNE INCREASE 34 ESTIMATES FOR THE GAIN RANGED FROM TWO PERCENT TO THREE PERCENT 35 UTILITY ANALYSTS HOWEVER EXPECT THE AGREEMENT TO BE COMPLETED WITHOUT MUCH DIFFICULTY 36 YESTERDAY MOODY'S INVESTORS SERVICE RAISED LILCO'S CREDIT RATINGS IN RECOGNITION OF THE IMPROVED OUTLOOK FOR STEADY FINANCIAL RECOVERY 37 ABOUT THREE POINT FIVE BILLION DOLLARS OF SECURITIES ARE AFFECTED 38 HE ALSO SAID THAT THE COMPANY FOR THE FIRST TIME WAS DEVELOPING DRUGS SPECIFICALLY FOR THE OVER THE COUNTER CONSUMER HEALTH CARE MARKET 39 HE SAID SUCH PRODUCTS WOULD BE MARKETED BY OTHER COMPANIES WITH EXPERIENCE IN THAT BUSINESS 40 HE DECLINED TO NAME SPECIFIC PRODUCTS 41 FIRST COMMODITY APPEALED THE EXPULSION AND FINE TO THE C. F. T. C. 42 A COMMISSION SPOKESMAN SAID A DECISION ON THE APPEAL IS EXPECTED SOON 43 FIRST COMMODITY OFFICIALS COULDN'T BE REACHED FOR COMMENT 44 AND THEN THERE'S THE EXPLANATION OF WHY TERADYNE'S GROWTH IN JAPAN IS SLOW DESPITE FIFTEEN YEARS OF EFFORT 45 THE LANGUAGE IS A BIG PROBLEM 46 IN EUROPE AN AMERICAN CAN AT LEAST READ STREET SIGNS 47 IN JAPAN IT'S ALL GREEK SO TO SPEAK 48 THE OVERALL GAIN THE FIFTH IN THE PAST SEVEN MONTHS FOLLOWED A REVISED FOUR POINT ONE PERCENT INCREASE IN FEBRUARY 49 THE EARLIER RISE WAS PREVIOUSLY REPORTED AS FOUR POINT THREE PERCENT 50 IF DEFENSE IS EXCLUDED MARCH ORDERS ROSE ONE PERCENT AFTER A THREE PERCENT INCREASE IN FEBRUARY ===================================Group=================================##2 1 GRAND AUTO SLID THREE TO FIFTEEN AND ONE EIGHTH ON THE AMERICAN STOCK EXCHANGE 2 THE COMPANY WHICH RUNS RETAIL AUTOMOTIVE STORES TOLD SHEARSON LEHMAN BROTHERS ITS FINANCIAL ADVISER TO TERMINATE DISCUSSIONS TO SELL THE FIRM 3 IT RECEIVED NO PROPOSALS THAT WERE IN THE BEST INTEREST OF THE SHAREHOLDERS THE COMPANY SAID 4 ELDERS BREWING WILL BE BASED OUTSIDE AUSTRALIA BECAUSE SEVENTY PERCENT OF ITS ASSETS ARE IN BRITAIN AND CANADA 5 ALSO A MOVE TO BASE IT ABROAD WILL HAVE TAX ADVANTAGES 6 ELDERS FINANCE AND ELDERS AGRIBUSINESS WILL REMAIN BASED IN AUSTRALIA 7 TWO YEARS AGO B. A. S. F. MADE THREE SEPARATE ACQUISITIONS IN THE U. S. 8 ITS BIGGEST WAS THE ONE BILLION DOLLAR PURCHASE OF UNITED TECHNOLOGIES CORPORATION'S INMONT SUBSIDIARY A MAJOR SUPPLIER OF PAINT TO THE AUTO INDUSTRY 9 TODAY NINETY PERCENT OF THE FOUR BILLION DOLLARS OF B. A. S. F. SALES IN THE U. S. IS PRODUCED THERE 10 THE FOLLOWING OFFICERS DIRECTORS AND LARGE STOCKHOLDERS OF COMPANIES REPORTED CHANGES IN HOLDINGS UNDER THE SECURITIES EXCHANGE ACT OF NINETEEN THIRTY FOUR 11 THOSE IDENTIFIED AS BENEFICIAL OWNERS HOLD AT LEAST TEN PERCENT OF A COMPANY'S EQUITY SECURITIES 12 UNLESS OTHERWISE NOTED CHANGES INVOLVED DIRECT HOLDINGS OF COMMON STOCK AND TOOK PLACE IN SEPTEMBER AND OCTOBER OF NINETEEN EIGHTY SEVEN 13 COMPANIES ARE LISTED WHERE TRANSACTIONS GENERALLY AGGREGATE TEN THOUSAND SHARES OR ONE HUNDRED THOUSAND DOLLARS 14 ABOUT ALL THE BUSINESSMAN CAN COUNT ON IS THAT POLICY WILL BE PRETTY VOLATILE 15 IF THE DOLLAR STARTS TO PLUNGE THE FED MAY STEP UP ITS DEFENSE OF THE CURRENCY 16 IF THE FED PUSHES THE DOLLAR HIGHER IT MAY CURB THE DEMAND FOR U. S. EXPORTS 17 TOO MUCH FOCUS IS PLACED ON REDUCTION OF CROSS COUNTRY LOANS MR. MEYERMAN SAID 18 ANALYSTS HAVEN'T FOCUSED ON WHAT HAPPENED TO THEM 19 HAS EXPOSURE REALLY BEEN REDUCED 20 OUR GUESS IS NO 21 CLOSED END FUNDS ARE TRADED ON EXCHANGES LIKE STOCKS BUT INVEST IN A WIDE PORTFOLIO OF OTHER SECURITIES 22 ALTHOUGH CLOSED END FUNDS HAVE BEEN AROUND SINCE AT LEAST THE NINETEEN TWENTIES THEY HAVE BOOMED IN POPULARITY THIS YEAR 23 THE BOND FUNDS IN PARTICULAR PROVIDE ROBUST YIELDS FOR INVESTORS AND HEFTY FEES FOR UNDERWRITERS 24 REPUBLIC NEW YORK ROSE ONE AND ONE QUARTER TO FORTY FIVE AND SEVEN EIGHTHS 25 THE COMPANY SAID ITS EUROPEAN BANKING AFFILIATE SAFRA REPUBLIC PLANS TO RAISE MORE THAN FOUR HUNDRED FIFTY MILLION DOLLARS THROUGH AN INTERNATIONAL OFFERING 26 AFTER THE OFFERING REPUBLIC NEW YORK WILL HOLD ABOUT FORTY NINE PERCENT OF THE AFFILIATE 27 AT THE CLOSE THE FINANCIAL TIMES THIRTY SHARE INDEX WAS THREE POINT NINE POINTS LOWER AT ONE THOUSAND FOUR HUNDRED EIGHTEEN POINT SIX 28 VOLUME WAS MODEST AS THREE HUNDRED TWENTY SIX POINT SEVEN MILLION SHARES CHANGED HANDS COMPARED WITH THREE HUNDRED NINETY SIX POINT FIVE MILLION FRIDAY 29 THE ONE HUNDRED SHARE INDEX CLOSED SIX POINT EIGHT POINTS LOWER AT ONE THOUSAND SEVEN HUNDRED FIFTY NINE POINT NINE 30 HE ALSO SAID THAT THE COMPANY FOR THE FIRST TIME WAS DEVELOPING DRUGS SPECIFICALLY FOR THE OVER THE COUNTER CONSUMER HEALTH CARE MARKET 31 HE SAID SUCH PRODUCTS WOULD BE MARKETED BY OTHER COMPANIES WITH EXPERIENCE IN THAT BUSINESS 32 HE DECLINED TO NAME SPECIFIC PRODUCTS 33 BIDS TOTALING FIVE HUNDRED TWENTY FIVE POINT FIVE MILLION DOLLARS WERE SUBMITTED 34 ACCEPTED BIDS RANGED FROM SIX POINT TWO PERCENT TO SIX POINT TWO TWO FIVE PERCENT 35 THE BANK HOLDING COMPANY SLATED ANOTHER FIFTY MILLION DOLLAR SALE NEXT TUESDAY 36 M. I. C. C. INVESTMENTS HAS THREE SERIES OF PUBLICLY TRADED PREFERRED SHARES AND TEN SERIES OF PRIVATELY HELD PREFERRED STOCK 37 M. I. C. C. SAID IT INTENDS TO PAY THE DIVIDEND ARREARS ON JULY THIRTY FIRST TO STOCK OF RECORD JULY SECOND 38 THE TORONTO BASED COMPANY PROVIDES MORTGAGE GUARANTEES TO THE CANADIAN REAL ESTATE INDUSTRY 39 GRAND AUTO SLID THREE TO FIFTEEN AND ONE EIGHTH ON THE AMERICAN STOCK EXCHANGE 40 THE COMPANY WHICH RUNS RETAIL AUTOMOTIVE STORES TOLD SHEARSON LEHMAN BROTHERS ITS FINANCIAL ADVISER TO TERMINATE DISCUSSIONS TO SELL THE FIRM 41 IT RECEIVED NO PROPOSALS THAT WERE IN THE BEST INTEREST OF THE SHAREHOLDERS THE COMPANY SAID 42 UNDER TERMS PREVIOUSLY REPORTED THE ITALIAN AGRICULTURAL CONCERN ASSUMED ABOUT ONE HUNDRED NINETY FIVE MILLION DOLLARS IN SUBORDINATED DEBT AS PART OF THE TRANSACTION 43 SHAMROCK'S PRETAX PROFIT FROM THE SALE WAS ONE HUNDRED TWENTY FIVE MILLION DOLLARS A SPOKESWOMAN SAID 44 SHAMROCK HAS INTERESTS IN TELEVISION AND RADIO STATIONS ENERGY SERVICES REAL ESTATE AND VENTURE CAPITAL 45 SONY CORPORATION FOR EXAMPLE CLOSED AT FOUR THOUSAND NINE HUNDRED FIFTY YEN THIRTY FOUR DOLLARS AND FIFTY CENTS A SHARE YESTERDAY 46 UNDER TOKYO TRADING RULES THE MAXIMUM ONE DAY DROP FOR SONY IS FIVE HUNDRED YEN ABOUT THREE DOLLARS AND FIFTY CENTS 47 THIS MORNING THE ASKING PRICE FOR THE STOCK WAS FOUR THOUSAND EIGHT HUNDRED FIFTY BUT THERE WERE NO BUYERS 48 A MONSANTO SPOKESMAN SAID THERE'S VERY LITTLE WE CAN SAY 49 WE JUST RECEIVED THE SUIT AND THE DOCUMENT IS MASSIVE IT'S TWO HUNDRED PAGES 50 BUT ON THE FIRST READ THROUGH THE CASE IS WITHOUT MERIT AND WE INTEND TO FIGHT IT ===================================Group=================================##3 1 ACCORDING TO THE AVERAGE ESTIMATE OF SEVEN ECONOMISTS SURVEYED BY DOW JONES CAPITAL MARKETS REPORT NEW ORDERS FOR U. S. DURABLE GOODS ROSE TWO POINT FOUR PERCENT LAST MONTH 2 THAT WOULD FOLLOW A TWO POINT TWO PERCENT DROP IN MAY 3 THE MAY SLUMP REPORTED JUNE TWENTY SECOND CAME AS A BIG SURPRISE TO MOST ANALYSTS AND HELPED TRIGGER A POWERFUL BOND RALLY THAT DAY 4 EVEN SOME BIGGER COMPANIES CAUTION THAT THEY ARE LEERY OF PAYING TOO BIG A PREMIUM 5 WE'RE GOING TO BE BIDDERS SAID A TOP OFFICIAL OF A MAJOR OIL COMPANY 6 BUT IF THE WINNING BIDS ARE AS HIGH AS THEY WERE IN SOME DEALS EARLIER THIS YEAR THEN WE'RE NOT GOING TO BE WINNING BIDDERS 7 THE COMPANY SAID IT WOULD BEGIN A DUTCH AUCTION LATER THIS WEEK FOR AS MANY AS FORTY MILLION SHARES OR TWENTY SIX PERCENT OF ITS SHARES OUTSTANDING 8 IN A DUTCH AUCTION HOLDERS TENDER THEIR SHARES AT PRICES WITHIN A STATED RANGE IN THIS CASE BETWEEN TWENTY EIGHT DOLLARS AND THIRTY THREE DOLLARS A SHARE 9 THE COMPANY THEN ACCEPTS THE SHARES TENDERED AT THE LOWEST PRICE NEEDED TO REACH ITS GOAL THEN PAYS THAT AMOUNT FOR ALL SHARES IT PURCHASES 10 AT THE CLOSE THE FINANCIAL TIMES THIRTY SHARE INDEX WAS THREE POINT NINE POINTS LOWER AT ONE THOUSAND FOUR HUNDRED EIGHTEEN POINT SIX 11 VOLUME WAS MODEST AS THREE HUNDRED TWENTY SIX POINT SEVEN MILLION SHARES CHANGED HANDS COMPARED WITH THREE HUNDRED NINETY SIX POINT FIVE MILLION FRIDAY 12 THE ONE HUNDRED SHARE INDEX CLOSED SIX POINT EIGHT POINTS LOWER AT ONE THOUSAND SEVEN HUNDRED FIFTY NINE POINT NINE 13 UTILITY ANALYSTS HOWEVER EXPECT THE AGREEMENT TO BE COMPLETED WITHOUT MUCH DIFFICULTY 14 YESTERDAY MOODY'S INVESTORS SERVICE RAISED LILCO'S CREDIT RATINGS IN RECOGNITION OF THE IMPROVED OUTLOOK FOR STEADY FINANCIAL RECOVERY 15 ABOUT THREE POINT FIVE BILLION DOLLARS OF SECURITIES ARE AFFECTED 16 HE ALSO SAID THAT THE COMPANY FOR THE FIRST TIME WAS DEVELOPING DRUGS SPECIFICALLY FOR THE OVER THE COUNTER CONSUMER HEALTH CARE MARKET 17 HE SAID SUCH PRODUCTS WOULD BE MARKETED BY OTHER COMPANIES WITH EXPERIENCE IN THAT BUSINESS 18 HE DECLINED TO NAME SPECIFIC PRODUCTS 19 SO NORMALCY HAS RETURNED 20 FOREIGNERS ARE BACK AND NEGOTIATING WITH THE CHINESE WILL BE AS TOUGH AS EVER 21 THAT'S FINE 22 A CHANGE IN THE FIRM'S OWNERSHIP ALSO SHOULD TURN ON A BRIGHT WARNING LIGHT 23 MONEY MANAGERS WHO SELL THEIR FIRMS BUT THEN CONTINUE WORKING FOR THEM MAY BE LESS DEDICATED UNDER NEW OWNERSHIP THEY SAY 24 IMPORTANT PERSONNEL USUALLY ARE LOCKED INTO LONG TERM CONTRACTS WITH INCENTIVES AIMED AT REDUCING THAT PROBLEM 25 THE LABOR DEPARTMENT SAID NON FARM PAYROLL EMPLOYMENT INCREASED A ROBUST THREE HUNDRED THIRTY SEVEN THOUSAND LAST MONTH AFTER A REVISED THREE HUNDRED NINETEEN THOUSAND GAIN THE MONTH BEFORE 26 THE DEPARTMENT PREVIOUSLY SAID JOBS ROSE BY FOUR HUNDRED FORTY EIGHT THOUSAND IN JANUARY 27 USING A MEASURE THAT COUNTS THE MILITARY AMONG THE EMPLOYED THE RATE WAS UNCHANGED AT SIX POINT SIX PERCENT LAST MONTH 28 M. I. C. C. INVESTMENTS HAS THREE SERIES OF PUBLICLY TRADED PREFERRED SHARES AND TEN SERIES OF PRIVATELY HELD PREFERRED STOCK 29 M. I. C. C. SAID IT INTENDS TO PAY THE DIVIDEND ARREARS ON JULY THIRTY FIRST TO STOCK OF RECORD JULY SECOND 30 THE TORONTO BASED COMPANY PROVIDES MORTGAGE GUARANTEES TO THE CANADIAN REAL ESTATE INDUSTRY 31 IT ISN'T CLEAR YET WHETHER THE CAMPAIGN WORKS 32 LOCAL MEMBERSHIP JUMPED TWENTY TWO PERCENT BUT THE UNION HAS ALREADY LOST TWENTY EIGHT OF THE SEVENTY THREE NEW MEMBERS 33 NONETHELESS THE UNION HAS MOVED THE EXPERIMENT TO RICHMOND VIRGINIA AND HAS RECEIVED INQUIRIES FROM OTHER UNIONS ABOUT ITS TACTICS 34 IN THE EFFORTS TO RESTORE MARKET CONFIDENCE ADMINISTRATION OFFICIALS HAVE EMPHASIZED THAT THE ECONOMY'S FUNDAMENTALS REMAIN SOUND 35 THAT WAS CERTAINLY TRUE LAST WEEK 36 EMPLOYMENT LOOKED STRONG INFLATION WAS LOW AND CONSUMER SPENDING AND INVESTMENT WERE HOLDING UP REASONABLY WELL 37 AMONG EXPORT LED ELECTRICAL AND COMPUTER MAKERS JAPAN VICTOR COMPANY FELL FIFTY TO TWO THOUSAND THREE HUNDRED TWENTY 38 KYOCERA WAS UP SIXTY AT FIVE THOUSAND TWO HUNDRED SIXTY 39 SONY WHICH LOST POINTS IN PREVIOUS SESSIONS THIS WEEK REBOUNDED EIGHTY TO FIVE THOUSAND ONE HUNDRED THIRTY 40 THE FOLLOWING OFFICERS DIRECTORS AND LARGE STOCKHOLDERS OF COMPANIES REPORTED CHANGES IN HOLDINGS UNDER THE SECURITIES EXCHANGE ACT OF NINETEEN THIRTY FOUR 41 THOSE IDENTIFIED AS BENEFICIAL OWNERS HOLD AT LEAST TEN PERCENT OF A COMPANY'S EQUITY SECURITIES 42 UNLESS OTHERWISE NOTED CHANGES INVOLVED DIRECT HOLDINGS OF COMMON STOCK AND TOOK PLACE IN SEPTEMBER AND OCTOBER OF NINETEEN EIGHTY SEVEN 43 COMPANIES ARE LISTED WHERE TRANSACTIONS GENERALLY AGGREGATE TEN THOUSAND SHARES OR ONE HUNDRED THOUSAND DOLLARS 44 AFTER THE THIRD PERIOD ASHLAND'S COAL OPERATIONS BEGAN A PROCESS OF BECOMING AN INDEPENDENT COMPANY 45 WHEN ITS INITIAL PUBLIC OFFERING IS COMPLETED ASHLAND IS EXPECTED TO RETAIN A FORTY SIX PERCENT STAKE 46 THE NEW COMPANY ASHLAND COAL INCORPORATED IS LISTED ON THE NEW YORK STOCK EXCHANGE 47 THE OFFICIAL DECLINED TO ELABORATE ON PROJECTIONS FOR NON TELEPHONE OPERATIONS BUT CITED SEVERAL INDICATORS OF RECENT GAINS 48 HE SAID THE COMPANY HAS ENTERED SIXTEEN SMALLER CELLULAR MARKETS THIS YEAR AND HAS EXPANDED ITS FINANCIAL SERVICES WORK FORCE 49 IN ADDITION U. S. WEST'S DATA SOLUTIONS BUSINESS APPLIED COMMUNICATIONS INCORPORATED IS WORKING OUT WELL AND PERFORMING AHEAD OF ALL OUR SCHEDULES 50 M. C. I. PLANS TO BEGIN OFFERING THE SERVICE AT THE END OF THIS MONTH ===================================Group=================================##4 1 AS PART OF THE MARKETING PLAN THE COMPANY WILL BEGIN AIRING TELEVISION COMMERCIALS DURING PRIME TIME ON ELECTION NIGHT NEXT TUESDAY 2 A PRINT MEDIA CAMPAIGN WILL BEGIN THE FOLLOWING DAY 3 VISA AND MASTERCARD FEES VARY BECAUSE THEY ARE SET BY THE BANKS OR OTHER INSTITUTIONS THAT ISSUE THE CARDS 4 FEES RANGE UP TO ABOUT FORTY DOLLARS ANNUALLY FOR BASIC CARDS AND SIXTY DOLLARS A YEAR FOR GOLD CARDS 5 IN CERTAIN CASES THE CARDS ARE GIVEN FREE TO SUBSCRIBERS 6 THE AMERICAN STOCK EXCHANGE INDEX LOST ZERO POINT SEVEN THREE TO THREE HUNDRED EIGHTY POINT NINE FOUR 7 VOLUME WAS EIGHTEEN MILLION ONE HUNDRED NINETY THOUSAND SHARES COMPARED WITH TEN MILLION FIVE HUNDRED FIFTY THOUSAND MONDAY 8 THERE WERE TWO HUNDRED FIFTY SIX ISSUES ADVANCING THREE HUNDRED THREE DECLINING AND TWO HUNDRED NINETY TWO UNCHANGED 9 COMPANIES LISTED BELOW REPORTED QUARTERLY PROFIT SUBSTANTIALLY DIFFERENT FROM THE AVERAGE OF ANALYSTS' ESTIMATES 10 THE COMPANIES ARE FOLLOWED BY AT LEAST THREE ANALYSTS AND HAD A MINIMUM FIVE CENT CHANGE IN ACTUAL EARNINGS PER SHARE 11 ESTIMATED AND ACTUAL RESULTS INVOLVING LOSSES ARE OMITTED 12 YESTERDAY'S LOSERS INCLUDED AUTOMOBILES 13 HONDA WAS DOWN TEN TO ONE THOUSAND NINE HUNDRED THIRTY 14 NISSAN LOST THIRTY TO ONE THOUSAND FIVE HUNDRED TWENTY AND TOYOTA WAS DOWN THIRTY TO END THE DAY AT TWO THOUSAND SIX HUNDRED TWENTY 15 IN THE NINETEEN EIGHTY FIVE QUARTER THE OWNER AND OPERATOR OF HEALTH MAINTENANCE ORGANIZATIONS EARNED SIX POINT NINE MILLION DOLLARS OR TWENTY FOUR CENTS A SHARE 16 IT HAD FORECAST A NINETEEN EIGHTY SIX FOURTH QUARTER LOSS OF EIGHTEEN MILLION DOLLARS TO TWENTY TWO MILLION DOLLARS 17 REVENUE IN THE QUARTER MORE THAN DOUBLED TO THREE HUNDRED SIXTY TWO POINT FOUR MILLION DOLLARS FROM ONE HUNDRED FORTY NINE POINT TWO MILLION DOLLARS 18 SEPARATELY NEW YORK STATE SOLD ABOUT SEVENTY SEVEN POINT ONE MILLION DOLLARS OF CERTIFICATES OF PARTICIPATION 19 THE ISSUE WAS PRICED AFTER AUCTION TO YIELD FROM THREE POINT FIVE PERCENT IN NINETEEN EIGHTY SEVEN TO FIVE POINT FIVE PERCENT IN NINETEEN NINETY SEVEN 20 THE UNSOLD BALANCE LATE YESTERDAY WAS ABOUT THIRTY SIX POINT THREE MILLION DOLLARS ACCORDING TO SHEARSON LEHMAN BROTHERS THE LEAD UNDERWRITER 21 THE ISSUE IS RATED SINGLE A BY MOODY'S AND SINGLE A MINUS BY S. AND P. 22 CITICORP HAD TWENTY ONE POINT FIVE BILLION DOLLARS IN CAPITAL AT THE END OF LAST YEAR 23 AS ONE OF THE MOST ACQUISITION HUNGRY OF MAJOR BANKS CITICORP IS OFTEN REQUIRED BY REGULATORS TO RAISE ADDITIONAL CAPITAL AS A CONDITION OF MAKING ACQUISITIONS 24 IN ADDITION BANKS IN GENERAL ARE BEING PUSHED BY REGULATORS TO BOOST THEIR CAPITAL POSITIONS 25 MONDAY'S CRASH IS LIKELY TO AFFECT AT LEAST ONE OTHER PIECE OF PENDING LEGISLATION THE SWEEPING TRADE BILL THAT IS NOW THE SUBJECT OF A HOUSE SENATE CONFERENCE 26 SENATE FINANCE CHAIRMAN LLOYD BENTSEN D. TEXAS SAID HE WOULD SPEED UP WORK ON THE PACKAGE BECAUSE OF THE CRASH 27 IT ADDS TO THE SUPPORT FOR THE TRADE BILL GETTING THROUGH HE SAID 28 SEVERAL AIRLINES HAVE ALSO OPPOSED THE STANDARDS AND MAY FIGHT SOME ASPECTS IN COURT 29 SO FAR THEY HAVE DECLINED TO COMMENT PUBLICLY ON THEIR PLANS 30 STATE OFFICIALS HOWEVER SAY THE AIRLINES HAVE INDICATED THEY WILL COMPLY WITH MOST OF THE STANDARDS AS LONG AS COMPETITORS DO 31 AMONG EXPORT LED ELECTRICAL AND COMPUTER MAKERS JAPAN VICTOR COMPANY FELL FIFTY TO TWO THOUSAND THREE HUNDRED TWENTY 32 KYOCERA WAS UP SIXTY AT FIVE THOUSAND TWO HUNDRED SIXTY 33 SONY WHICH LOST POINTS IN PREVIOUS SESSIONS THIS WEEK REBOUNDED EIGHTY TO FIVE THOUSAND ONE HUNDRED THIRTY 34 LATELY COMPUTER RETAILING HAS BEEN TOUGH ON EVERYBODY 35 NO ONE IS MAKING VERY MUCH MONEY ON IT ACKNOWLEDGES BRIAN J. KELLY CHAIRMAN OF BELL ATLANTIC'S INVESTMENT DEVELOPMENT UNIT 36 WE HAD TO SUSTAIN SOME MODEST OPERATING LOSSES 37 WE DIDN'T LIKE THAT 38 THE COMPANY DECLINED TO IDENTIFY THE BIDDERS BUT SAID IT RECEIVED OFFERS IN THE HIGH FORTY DOLLARS PER SHARE 39 IN RESPONSE AMFAC SHARES ROSE ONE DOLLAR TO FORTY SEVEN DOLLARS AND SEVENTY FIVE CENTS IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING YESTERDAY 40 THE OFFERS INDICATE A TOTAL PRICE FOR THE COMPANY EXCEEDING EIGHT HUNDRED MILLION DOLLARS BASED ON SEVENTEEN POINT TWO MILLION SHARES OUTSTANDING 41 THE MID JULY INCREASE CAME EVEN THOUGH AUTO MAKERS ARE OFFERING INCENTIVES ON FEWER CARS THIS YEAR THAN THEY DID LAST YEAR OR EARLIER THIS YEAR 42 INCENTIVES CAN MOVE AROUND SALES BUT NOT CREATE THEM SAID CHARLES BRADY AN OPPENHEIMER AND COMPANY AUTO STOCK ANALYST 43 THE MARKET'S STRENGTH MAY SHOW THAT DEMAND ISN'T ALL A CREATION OF INCENTIVES 44 M. C. I. PLANS TO BEGIN OFFERING THE SERVICE AT THE END OF THIS MONTH 45 AS PART OF THE MARKETING PLAN THE COMPANY WILL BEGIN AIRING TELEVISION COMMERCIALS DURING PRIME TIME ON ELECTION NIGHT NEXT TUESDAY 46 A PRINT MEDIA CAMPAIGN WILL BEGIN THE FOLLOWING DAY 47 THE AMERICAN STOCK EXCHANGE INDEX LOST ZERO POINT SEVEN THREE TO THREE HUNDRED EIGHTY POINT NINE FOUR 48 VOLUME WAS EIGHTEEN MILLION ONE HUNDRED NINETY THOUSAND SHARES COMPARED WITH TEN MILLION FIVE HUNDRED FIFTY THOUSAND MONDAY 49 THERE WERE TWO HUNDRED FIFTY SIX ISSUES ADVANCING THREE HUNDRED THREE DECLINING AND TWO HUNDRED NINETY TWO UNCHANGED 50 THE INSTITUTE SAID EARNED PREMIUMS ROSE THREE POINT ONE PERCENT IN THE SECOND QUARTER FAILING TO KEEP PACE WITH INFLATION WHICH ROSE FOUR POINT FIVE PERCENT ===================================Group=================================##5 1 HOWEVER INVESTMENT INCOME WHICH REPRESENTS THIRTEEN PERCENT OF THE INDUSTRY'S REVENUES ROSE ELEVEN PERCENT IN THE QUARTER REFLECTING GAINS FROM THE RISING STOCK MARKET 2 REALIZED CAPITAL GAINS INCREASED FORTY TWO PERCENT TO NINE HUNDRED NINE MILLION DOLLARS FROM SIX HUNDRED FORTY POINT NINE MILLION DOLLARS 3 A CHANGE IN THE FIRM'S OWNERSHIP ALSO SHOULD TURN ON A BRIGHT WARNING LIGHT 4 MONEY MANAGERS WHO SELL THEIR FIRMS BUT THEN CONTINUE WORKING FOR THEM MAY BE LESS DEDICATED UNDER NEW OWNERSHIP THEY SAY 5 IMPORTANT PERSONNEL USUALLY ARE LOCKED INTO LONG TERM CONTRACTS WITH INCENTIVES AIMED AT REDUCING THAT PROBLEM 6 OWENS ILLINOIS SAID ITS SHARE PURCHASES WOULD BE FINANCED BY EXISTING CREDIT LINES AND NEW ONES TO BE ARRANGED 7 IF ALL TWENTY MILLION SHARES WERE PURCHASED THE COMPANY'S EQUITY WOULD BE REDUCED BY ABOUT ONE THIRD 8 A SPOKESMAN SAID THE COMPANY HAS ABOUT SIXTY MILLION SHARES OUTSTANDING 9 THE CONSENSUS WAS THAT A NEW PIECE OF PAPER ISN'T REQUIRED SAID ONE U. S. DIPLOMAT 10 NO ONE AT THE STATE DEPARTMENT WANTS TO LET SPIES IN 11 WE'RE NOT PREPARED TO BE ADVOCATES FOR THE K. G. B. 12 BUT THE PENALTIES FOR FAILURE ARE REAL 13 THEIR BUSINESS ISN'T JUST A JOB BUT THEIR INVESTMENT 14 AND BOTH MORTGAGED THEIR HOMES TO SECURE THE LOANS THEY NEEDED TO START THE BUSINESS 15 A LONG LIST OF OTHER WITNESSES HAVE ALSO TESTIFIED IN THE TRIAL NOW IN ITS FOURTH MONTH 16 BUT IT IS MR. WEST UPON WHOM THE OUTCOME PROBABLY DEPENDS MOST 17 TESTIMONY CONCLUDED THIS WEEK AND CLOSING ARGUMENTS ARE SCHEDULED TO BEGIN MONDAY 18 GRAND AUTO SLID THREE TO FIFTEEN AND ONE EIGHTH ON THE AMERICAN STOCK EXCHANGE 19 THE COMPANY WHICH RUNS RETAIL AUTOMOTIVE STORES TOLD SHEARSON LEHMAN BROTHERS ITS FINANCIAL ADVISER TO TERMINATE DISCUSSIONS TO SELL THE FIRM 20 IT RECEIVED NO PROPOSALS THAT WERE IN THE BEST INTEREST OF THE SHAREHOLDERS THE COMPANY SAID 21 THE ORDER ISSUED LATE WEDNESDAY BY JUDGE DIANA MURPHY STEMS FROM A SUIT FILED IN FEDERAL COURT LAST MONTH BY THE UNION REPRESENTING THE MACHINISTS 22 THE SUIT SEEKS TO BLOCK THE CONTRACT WHICH WOULD HAVE RAISED PAY LEVELS BUT CUT BENEFITS 23 THE AIRLINE IMPOSED THE CONTRACT WITHOUT UNION BARGAINING 24 YESTERDAY'S SESSION BEGAN WITH A SHARP QUICK DECLINE IN THE INDUSTRIAL AVERAGE OF MORE THAN FORTY FIVE POINTS WHICH SOME MARKET ANALYSTS ATTRIBUTED TO FOREIGN SELLING 25 BUT TO THE SURPRISE OF ALMOST EVERYONE STOCK PRICES BEGAN A STEADY CLIMB THAT PUSHED THE AVERAGE ABOVE WEDNESDAY'S CLOSE 26 ALTHOUGH THOSE GAINS ERODED DURING THE AFTERNOON STOCK PRICES STAYED WITHIN A NARROW RANGE UNTIL THE LAST HALF HOUR OF TRADING 27 GILLETTE IS AGAIN A TARGET OF A MAJOR CORPORATE RAIDER 28 CONISTON PARTNERS OF NEW YORK SAID IT HAS A SIX POINT EIGHT PERCENT STAKE IN GILLETTE AND MAY SEEK TO ACQUIRE THE COMPANY OR GAIN SEATS ON ITS BOARD 29 A LENGTHY FIGHT IS LIKELY 30 ABOUT ALL THE BUSINESSMAN CAN COUNT ON IS THAT POLICY WILL BE PRETTY VOLATILE 31 IF THE DOLLAR STARTS TO PLUNGE THE FED MAY STEP UP ITS DEFENSE OF THE CURRENCY 32 IF THE FED PUSHES THE DOLLAR HIGHER IT MAY CURB THE DEMAND FOR U. S. EXPORTS 33 LATELY COMPUTER RETAILING HAS BEEN TOUGH ON EVERYBODY 34 NO ONE IS MAKING VERY MUCH MONEY ON IT ACKNOWLEDGES BRIAN J. KELLY CHAIRMAN OF BELL ATLANTIC'S INVESTMENT DEVELOPMENT UNIT 35 WE HAD TO SUSTAIN SOME MODEST OPERATING LOSSES 36 WE DIDN'T LIKE THAT 37 THE JURY AWARDED MR. SCHARENBERG ONE HUNDRED FIVE MILLION DOLLARS A FIGURE BASED ON TEN YEARS OF PROFITS HAD HIS PROJECT BEEN COMPLETED 38 CONTINENTAL STARTED THE APPEAL PROCESS BUT RECENTLY SETTLED THE CASE 39 NEITHER SIDE WOULD DISCLOSE TERMS 40 M. C. I. PLANS TO BEGIN OFFERING THE SERVICE AT THE END OF THIS MONTH 41 AS PART OF THE MARKETING PLAN THE COMPANY WILL BEGIN AIRING TELEVISION COMMERCIALS DURING PRIME TIME ON ELECTION NIGHT NEXT TUESDAY 42 A PRINT MEDIA CAMPAIGN WILL BEGIN THE FOLLOWING DAY 43 THE REAL CHANGE THOUGH IS IN HOW CHINA LOOKS 44 FROM AMERICA CHINA LOOKED GOOD 45 THE NUMBERS LOOKED AMAZINGLY GOOD INDUSTRIAL GROWTH RATES ABOVE TEN PERCENT PER YEAR YEAR AFTER YEAR 46 AND AFTER A TEMPORARY DOWNTURN IN THE NEXT COUPLE OF YEARS THE NUMBERS PROBABLY WILL GO BACK UP 47 WHERE ELSE IN THE THIRD WORLD IS THERE SO MUCH ENERGY AND PROGRESS AS IN CHINA 48 HERE ARE PRICE TRENDS ON THE WORLD'S MAJOR STOCK MARKETS AS CALCULATED BY MORGAN STANLEY CAPITAL INTERNATIONAL PERSPECTIVE GENEVA 49 TO MAKE THEM DIRECTLY COMPARABLE EACH INDEX IS BASED ON THE CLOSE OF NINETEEN SIXTY NINE EQUALING ONE HUNDRED 50 THE PERCENTAGE CHANGE IS SINCE YEAR END ===================================Group=================================##6 1 THE CONSENSUS WAS THAT A NEW PIECE OF PAPER ISN'T REQUIRED SAID ONE U. S. DIPLOMAT 2 NO ONE AT THE STATE DEPARTMENT WANTS TO LET SPIES IN 3 WE'RE NOT PREPARED TO BE ADVOCATES FOR THE K. G. B. 4 THAT DOESN'T MEAN MR. ICAHN HAS COMMITTED ANY WRONGDOING 5 BUT THE INVESTIGATION COULD MAKE SOME LENDERS WARY 6 MR. ICAHN AND AN INVESTOR GROUP HE HEADS HOLD SEVENTY TWO POINT SEVEN PERCENT OF T. W. A.'S SHARES 7 SEPARATELY NEW YORK STATE SOLD ABOUT SEVENTY SEVEN POINT ONE MILLION DOLLARS OF CERTIFICATES OF PARTICIPATION 8 THE ISSUE WAS PRICED AFTER AUCTION TO YIELD FROM THREE POINT FIVE PERCENT IN NINETEEN EIGHTY SEVEN TO FIVE POINT FIVE PERCENT IN NINETEEN NINETY SEVEN 9 THE UNSOLD BALANCE LATE YESTERDAY WAS ABOUT THIRTY SIX POINT THREE MILLION DOLLARS ACCORDING TO SHEARSON LEHMAN BROTHERS THE LEAD UNDERWRITER 10 THE ISSUE IS RATED SINGLE A BY MOODY'S AND SINGLE A MINUS BY S. AND P. 11 FIDELITY HAD CONTENDED THAT GENCORP ISN'T A QUALIFIED BROADCASTER BECAUSE IT FAILED TO DISCLOSE ALLEGEDLY IMPROPER POLITICAL CAMPAIGN CONTRIBUTIONS AND FOREIGN PAYMENTS 12 UNDER THE PROPOSED TRANSACTION THE LOS ANGELES GROUP WOULD ACQUIRE THE K. H. J. LICENSE AND THEN SELL ITSELF TO DISNEY 13 THE CLOSELY HELD GROUP DOESN'T HAVE ANY SIGNIFICANT ASSETS ACCORDING TO WILLIAM G. SIMON ITS PRESIDENT 14 HE SAID THAT FOR THE FULL YEAR WANG IS AIMING FOR AN AFTER TAX PROFIT EQUAL TO THREE PERCENT TO FIVE PERCENT OF SALES 15 HE SAID THE COMPANY'S GOAL IS TO HAVE FIFTEEN PERCENT TO TWENTY PERCENT REVENUE GROWTH TO ABOUT THREE POINT TWO BILLION DOLLARS FOR THE YEAR 16 IN FISCAL NINETEEN EIGHTY SEVEN WANG HAD A LOSS OF SEVENTY POINT SEVEN MILLION DOLLARS ON REVENUE OF TWO POINT EIGHT FOUR BILLION DOLLARS 17 IN MANY WAYS THAT'S JUST WHAT U. B. S. HAS DONE SINCE MR. SENN WAS NAMED PRESIDENT IN NINETEEN EIGHTY 18 ASSETS MORE THAN DOUBLED SINCE THEN TO ONE HUNDRED SIXTY POINT FOUR BILLION SWISS FRANCS ONE HUNDRED FIFTEEN POINT SIX BILLION DOLLARS IN NINETEEN EIGHTY SEVEN 19 NET INCOME ROSE ONE HUNDRED TWENTY FIVE PERCENT TO SEVEN HUNDRED FIFTY THREE MILLION SWISS FRANCS IN THE PERIOD 20 THE REAL ESTATE INVESTMENT TRUST SAID IT WAS STILL HOPING TO REACH A NEW CREDIT ARRANGEMENT 21 WE'RE NOT READY TO SAY WE'RE IN TECHNICAL DEFAULT A SPOKESMAN SAID 22 IT'S STILL UNCLEAR 23 THERE WAS A STRIKING SPLIT BETWEEN THE SEXES WITH MEN MORE LIKELY THAN WOMEN TO FAVOR SPACE PROGRAMS 24 AMONG MEN FIFTY SIX PERCENT SAID THE U. S. WAS DOING TOO LITTLE IN SPACE EXPLORATION ONLY A QUARTER OF WOMEN AGREED 25 AMONG MEN FORTY ONE PERCENT SUPPORTED BOOSTING THE SPACE EXPLORATION BUDGET COMPARED WITH NINETEEN PERCENT OF WOMEN 26 ACCORDING TO THE AVERAGE ESTIMATE OF SEVEN ECONOMISTS SURVEYED BY DOW JONES CAPITAL MARKETS REPORT NEW ORDERS FOR U. S. DURABLE GOODS ROSE TWO POINT FOUR PERCENT LAST MONTH 27 THAT WOULD FOLLOW A TWO POINT TWO PERCENT DROP IN MAY 28 THE MAY SLUMP REPORTED JUNE TWENTY SECOND CAME AS A BIG SURPRISE TO MOST ANALYSTS AND HELPED TRIGGER A POWERFUL BOND RALLY THAT DAY 29 DURABLE GOODS REPORTS FREQUENTLY ARE HIGHLY VOLATILE FROM MONTH TO MONTH 30 MANY ANALYSTS CITE AN EXPECTED INCREASE IN AIRCRAFT ORDERS AS A BIG REASON FOR THE ANTICIPATED JUNE INCREASE 31 ESTIMATES FOR THE GAIN RANGED FROM TWO PERCENT TO THREE PERCENT 32 REPUBLIC NEW YORK ROSE ONE AND ONE QUARTER TO FORTY FIVE AND SEVEN EIGHTHS 33 THE COMPANY SAID ITS EUROPEAN BANKING AFFILIATE SAFRA REPUBLIC PLANS TO RAISE MORE THAN FOUR HUNDRED FIFTY MILLION DOLLARS THROUGH AN INTERNATIONAL OFFERING 34 AFTER THE OFFERING REPUBLIC NEW YORK WILL HOLD ABOUT FORTY NINE PERCENT OF THE AFFILIATE 35 CLOSELY HELD TIMES PUBLISHING ALSO OWNS TWO WASHINGTON BASED PUBLICATIONS CONGRESSIONAL QUARTERLY WHICH COVERS CAPITOL HILL AND GOVERNING WHICH COVERS STATE AND LOCAL GOVERNMENTS 36 IT ALSO OWNS THREE STATE BUSINESS MAGAZINES IN FLORIDA GEORGIA AND ARIZONA 37 INDUSTRY ANALYSTS VALUE THE COMPANY AT ABOUT SIX HUNDRED FIFTY MILLION DOLLARS 38 I DON'T MEAN THERE COULDN'T BE SOME IMPROVEMENTS IN THE REVENUE ACT OF NINETEEN EIGHTY SIX WHICH TOOK EFFECT THIS MONTH 39 I HAVE MY LIST OF CHANGES I'D LIKE TO SEE 40 AND I'M SURE YOU HAVE YOUR OWN LIST 41 MR. ROBERTSON SAYS HE WOULD ONLY BE ATTRACTED BY A NINETEEN MULTIPLE IF HE THOUGHT THE PROJECTED EARNINGS GROWTH RATE WAS EIGHTEEN PERCENT TO TWENTY PERCENT 42 HE DOESN'T 43 HE CITES THE LAW OF LARGE NUMBERS CAN YOU REALLY EXPECT IT TO GROW AT LARGE NUMBERS VERY LONG 44 WASHINGTON NATIONAL PAID NINETEEN DOLLARS A SHARE FOR THE TWO POINT SIX MILLION UNITED PRESIDENTIAL SHARES IT DIDN'T ALREADY OWN 45 BEFORE THE TRANSACTION WASHINGTON NATIONAL CONTROLLED ONE POINT EIGHT MILLION UNITED PRESIDENTIAL SHARES OR FORTY ONE POINT FIVE PERCENT OF THE COMPANY 46 WASHINGTON NATIONAL IS A FINANCIAL SERVICES CONCERN 47 UNITED PRESIDENTIAL IS A LIFE INSURANCE COMPANY 48 THESE ARE UNEDUCATED PEOPLE HE SAYS IN ENGLISH SO THE PATIENTS WON'T UNDERSTAND 49 SENDING THE REFUGEES BACK ISN'T THEIR IDEA IT'S JUST WHAT THE OPPOSITION POLITICIANS ARE SAYING IN OUR COUNTRY THESE DAYS 50 I WILL TELL YOU WHAT I THINK IN MY OFFICE