📄 reut2-008.sgm
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<DATELINE> MONTREAL, March 20, Reuter - </DATELINE><BODY>The St. Lawrence Seaway, set
to reopen March 31 after the winter, faces another tough year
because of depressed traffic levels and the possibility of the
first strike in 20 years on the Great Lakes, seaway officials
said.
Depressed grain exports, rising costs, and competing modes
of transportation are all expected to result in only a marginal
increase over last year's traffic levels -- and revenues -- on
the 2,300 mile waterway, officials said.
In 1986, a season that ran from April 3 to December 27, the
seaway moved 37.6 mln metric tons of freight between Montreal
and Lake Ontario and 41.6 mln tons on the Welland Canal,
linking Lake Erie and Lake Ontario.
By comparison, in 1985 about 37 mln tons of cargo traveled
through the Montreal-Lake Ontario section and 42 mln through
the eight-lock canal.
The waterway is expected to lose 9-10 mln Canadian dlrs
this year, about the same as the estimated deficit for fiscal
1986-87 ending March 31, said William Blair, an executive
member of Canada's St Lawrence Seaway Authority.
The seaway moves about one-half of Canada's exported grain.
Those exports of the single most important commodity carried on
the waterway have been depressed by world surpluses.
The Seafarers' International Union, which represents about
2,300 workers on the Great Lakes and the ocean coasts, has said
it will likely go on strike this spring to protest employers'
demands for wage rollbacks and other concessions.
"It's 99.9 pct (certain)--I guarantee you a strike," Roman
Gralewicz, head of the Seafarers' Canadian branch, has said.
The Canadian government has called in a labor conciliator
to try to hammer out a contract agreement between the two
sides. The seaway authority said a walkout tying up ships on
the Great Lakes would badly hurt traffic.
"We haven't had a strike on the seaway for years...a
prolonged strike would have a disasterous effect," Seaway
Authority spokeswoman Gay Hemsley said.
"These are the heaviest contract talks in the history of the
St Lawrence Seaway," George Miller, vice-president of the
Canadian Lake Carriers Association, an association of major
Canadian shipping companies, said recently.
The workers' current contract expires May 31. The
association said it is asking for a five per cent cut in wages
for the next three years, reduced crew levels and the power to
restructure crew dispatching.
The association said its members recorded about a 6 mln dlrs
(U.S.) loss in each of 1985 and 1986 due to lower traffic and
freight rates and increasing competition. The seaway said 1985
was its worst year in two decades.
Hemsley said the seaway authority plans to raise tolls on
the Welland Canal by eight pct this year, compared to last
year's 15 pct rise, while maintaining a freeze on tolls
throughout the rest of the waterway.
Canada is responsible for 13 of the seaway's 15 locks and
about 85 pct of its revenues and maintenance costs.
"We may see and hope for a steady upward climb...but we
won't see a major increase for a number of years," Hemsley said.
A Canada-U.S. delegation to promote the seaway to shippers
in Western Europe should result in some increased traffic this
season but the full benefits won't be felt for several years,
Blair said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13531" NEWID="8010">
<DATE>20-MAR-1987 17:07:50.76</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
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<UNKNOWN>
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f2516reute
u f BC-CHEMLAWN-<CHEM>,-ECOL 03-20 0065</UNKNOWN>
<TEXT>
<TITLE>CHEMLAWN <CHEM>, ECOLAB <ECON> IN MERGER PACT</TITLE>
<DATELINE> COLUMBUS, Ohio, March 20 - </DATELINE><BODY>Chemlawn Corp and Ecolab Inc
said they signed a definitive merger agreement under which
Ecolab will buy all outstanding Chemlawn common stock for 36.50
dlrs a share in cash, for a total of about 370 mln dlrs.
Under terms of the agreement, Chemlawn said it rescinded
its previously announced rights dividend plan.
Chemlawn previously rejected a 27 dlr a share offer from
Waste Management Inc <WMX>.
Yesterday, the Oak Brook, Ill.-based waste disposal company
said it was prepared to offer 33 dlrs a share, or about 330 mln
dlrs, for Chemlawn, a lawn-care company.
Chemlawn had said last week that it was negotiating with
other possible suitors, which it did not identify.
A Chemlawn spokesman said further details on the merger
would be issued later.
Ecolab is a maker of commercial laundry detergent based in
St. Paul, Minn. For its first six months ended December 31, the
company earned 20.4 mln dlrs, or 76 cts a share, on sales of
421.8 mln dlrs.
Officials at Waste Management could not be reached for
immediate comment.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13532" NEWID="8011">
<DATE>20-MAR-1987 17:10:14.07</DATE>
<TOPICS><D>earn</D></TOPICS>
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<UNKNOWN>
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b f BC-******LILCO-REVISES-1 03-20 0011</UNKNOWN>
<TEXT TYPE="BRIEF">
******<TITLE>LILCO REVISES 1986 NET TO INCLUDE 16 MLN DLR LOSS PROVISION
</TITLE>Blah blah blah.

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13533" NEWID="8012">
<DATE>20-MAR-1987 17:12:06.51</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
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<UNKNOWN>
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h f BC-FALCON-CABLE-<FAL>-SE 03-20 0073</UNKNOWN>
<TEXT>
<TITLE>FALCON CABLE <FAL> SETS INITIAL DISTRIBUTION</TITLE>
<DATELINE> PASADENA, Calif., March 20 - </DATELINE><BODY>Falcon Cable Systems Co said
its set an initial quarterly cash distribution of 53.75 cts per
unit, payable May 15 to unitholders of record March 31.
The partnership made its initial public offering in
December, 1986.
Falcon said it expects to pay cash distributions to limited
partners at an annual rate of 2.15 dlrs per unit, through
December 31, 1989.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13534" NEWID="8013">
<DATE>20-MAR-1987 17:12:35.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
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<UNKNOWN>
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u f BC-GENERAL-DYNAMICS-<GD> 03-20 0064</UNKNOWN>
<TEXT>
<TITLE>GENERAL DYNAMICS <GD> GETS 67.9 MLN DLR CONTRACT</TITLE>
<DATELINE> WASHINGTON, March 20 - </DATELINE><BODY>The Electric Boat Division of
General Dynamics Corp is being awarded a 67.9 mln dlr
modification to a Navy contract for architectural, engineering
and hardware development work for a submarine improvement
program, the Defense Department said.
It said the work is expected to be completed September 30,
1987.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13535" NEWID="8014">
<DATE>20-MAR-1987 17:15:01.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
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<UNKNOWN>
A RM
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r f BC-SONAT-<SNT>-UNIT-FILE 03-20 0090</UNKNOWN>
<TEXT>
<TITLE>SONAT <SNT> UNIT FILES FOR DEBENTURE OFFERING</TITLE>
<DATELINE> NEW YORK, March 20 - </DATELINE><BODY>Southern Natural Gas Co, a unit of
Sonat Inc, said it filed with the Securities and Exchange
Commission a registration statement covering a 100 mln dlr
issue of debentures due 1999.
Proceeds will be used, together with funds from the
company's operations, to redeem Southern Natural's 15 pct
sinking fund debentures of 1991.
The company named Goldman, Sachs and Co, Lazard Freres and
Co and Merrill Lynch Capital Markets as managing underwriters
of the offering.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13536" NEWID="8015">
<DATE>20-MAR-1987 17:16:21.60</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
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<UNKNOWN>
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r f BC-BIDS-AWARDED-FOR-ELK 03-20 0104</UNKNOWN>
<TEXT>
<TITLE>BIDS AWARDED FOR ELK HILLS CRUDE OIL</TITLE>
<DATELINE> LOS ANGELES, March 20 - </DATELINE><BODY>The U.S. Department of Energy said
it has awarded bids for about 90,000 barrels per day, bpd, of
crude oil from the Elk Hills Naval Petroleum Reserve in
California. The contract period runs from April one through
July one, the DOE said.
Successful bidders, the amount of crude oil and the price
per bbl according to the DOE are as follows -
Texaco Inc's <TX> Texaco Trading and Transport 15,000 bpd
at 15.79 dlrs and 2,200 bpd at 15.19 dlrs, Beacon Oil Co 7,000
bpd at 15.66 dlrs and 2,500 bpd at 16.04 dlrs, Golden West
Refining 8,110 bpd at 15.42 dlrs.
Successful bidders, the amount of oil and price per bbl,
according to the DOE continue as follows -
Chevron's <CHV> Chevron USA Inc 3,000 bpd at 14.51 dlrs and
4,000 bpd at 14.61 dlrs, Chevron International Oil Co 2,600 bpd
at 14.41 dlrs and 2,800 bpd at 14.51 dlrs, Newhall Refining Co
6,000 bpd at 15.82 dlrs, Caljet Inc 4,000 bpd at 15.32 dlrs,
Casey Co 4,000 bpd at 15.45 dlrs.
Also, Cryssen Refining Inc 4,000 bpd at 15.47 dlrs,
Edgington Oil Co 4,000 bpd at 15.54 dlrs, Sound Refining Inc
3,100 bpd at 15.51 dlrs, Atlantic Richfield Co <ARC> 3,000 bpd
at 15.75 dlrs.
Successful bidders, the amount of crude oil and the price
per bbl according to the DOE continue as follows -
Orkin Inc 2,679 bpd at 15.24 dlrs, Lunday-Thagard Co 2,511
bpd at 15.27 dlrs, Golden Eagle Refining 2,500 bpd at 15.37
dlrs, MacMillan Ring-Free Oil Co 1,000 bpd at 15.81 dlrs, 1,000
bpd at 15.71 dlrs and 230 bpd at 16.02 dlrs, Mock Resources
2,000 bpd at 15.76 dlrs, Petro-Diamond 2,000 bpd at 15.46 dlrs.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13537" NEWID="8016">
<DATE>20-MAR-1987 17:20:28.92</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
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s f BC-MONTGOMERY-STREET-INC 03-20 0024</UNKNOWN>
<TEXT>
<TITLE>MONTGOMERY STREET INCOME <MTS> MONTHLY DIVIDEND</TITLE>
<DATELINE> SAN FRANCISCO, March 20 -
</DATELINE><BODY>Mthly div 15 cts vs 15 cts
Pay April 15
Record April 1
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13538" NEWID="8017">
<DATE>20-MAR-1987 17:20:54.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
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<UNKNOWN>
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f2545reute
r f BC-sullivan-mines-inc 03-20 0056</UNKNOWN>
<TEXT>
<TITLE><SULLIVAN MINES INC> YEAR LOSS</TITLE>
<DATELINE> MONTREAL, March 20 -
</DATELINE><BODY>Oper shr loss 12 cts vs profit four cts
Oper loss 1,069,000 vs profit 339,000
Revs 12.8 mln vs 10.9 mln
Note: 1986 shr and net exclude extraordinary gain of
382,000 dlrs or four cts share. 1985 shr and net exclude
extraordinary gain of 183,000 dlrs or two cts share
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="13539" NEWID="8018">
<DATE>20-MAR-1987 17:21:38.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
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<UNKNOWN>
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u f BC-GRUMMAN-<GQ>-GETS-109 03-20 0051</UNKNOWN>
<TEXT>
<TITLE>GRUMMAN <GQ> GETS 109.1 MLN DLR NAVY CONTRACT</TITLE>
<DATELINE> WASHINGTON, March 20 - </DATELINE><BODY>Grumman Aerospace Corp is being
awarded a 109.1 mln dlr increment of funds to a Navy contract
for 12 EA-6B Prowler Electronic Warfare aircraft, the Defense
Department said.
It said the work is expected to be completed in July 1989.
Reuter
</BODY></TEXT>
</REUTERS>
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