📄 reut2-009.sgm
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</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14534" NEWID="9013">
<DATE>24-MAR-1987 16:08:11.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
A
f2444reute
r f BC-FARM-CREDIT-SYSTEM-SE 03-24 0112</UNKNOWN>
<TEXT>
<TITLE>FARM CREDIT SYSTEM SEEN NEEDING 800 MLN DLRS AID</TITLE>
<DATELINE> WASHINGTON, MARCH 24 - </DATELINE><BODY>A member of the board which
regulates the farm credit system said Congress should plan to
provide at least 800 mln dlrs in fiscal 1988 to bailout the
troubled system, but other members of the board differed.
Jim Billington, Farm Credit Administration (FCA) board
member told a House Agriculture Appropriations subcommittee
hearing "I feel your subcommittee should plan on providing at
least 800 mln next year to assist the Farm Credit System."
However, FCA board member Marvin Duncan differed, saying
"it is premature to talk about the cost of a solution until we
know what kind of solution."
Chairman of the FCA board, Frank Naylor, said it might be
possible to structure a rescue of the system with government
guarantees or a line of credit which requires little or no
upfront government money.
However, Billington said Congress must provide help
immediately because "this system needs some assurance that it
will get some help."
The FCA estimates the system could lose up to 1.4 billion
dlrs in 1987, exhausting the remainder of its working capital,
Naylor said.
The farm credit system is expected to present its own
proposals for government aid to a Senate Agriculture
subcommittee hearing on Thursday.
Naylor said the Treasury Department is continuing to refine
Reagan administration ideas on how a rescue should be
structured.
Congressional sources said they hope to begin drafting a
rescue bill for the farm credit system as early as next week.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14535" NEWID="9014">
<DATE>24-MAR-1987 16:09:09.08</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2445reute
u f BC-USX-<X>-USS-UNIT-RAIS 03-24 0068</UNKNOWN>
<TEXT>
<TITLE>USX <X> USS UNIT RAISES PRICES</TITLE>
<DATELINE> LORAIN, Ohio, March 24 - </DATELINE><BODY>USX Corp's USS subsidiary said
that effective with shipments beginning July 1 prices for all
leaded grades and 1200-series grades of hot rolled bar and
semi-finished products from its Lorain, Ohio, facility will be
increased by 15 dlrs a ton over the prices in effect June 1.
It said the increase is being made to reflect current
market conditions.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14536" NEWID="9015">
<DATE>24-MAR-1987 16:10:06.45</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2447reute
d f BC-UNIONIST-URGES-RETALI 03-24 0108</UNKNOWN>
<TEXT>
<TITLE>UNIONIST URGES RETALIATION AGAINST JAPAN</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>William Bywater, president of the
International Union of Electronic Workers, called on President
Reagan to retaliate against Japan for unfair practices in
semiconductor trade.
He said in a statement a crash program was needed in the
semiconductor industry to prevent the United States from
becoming "one of the world's industrial lightweights."
Bywater's remarks came as the White House Economic Policy
Council prepared for a Thursday meeting to decide what
sanctions if any should be taken against Japan for alleged
violations of a U.S.-Japanese semiconductors agreement.
The pact, agreed to last July, called for Tokyo to end
selling semiconductors at below cost and to open its home
market to U.S. goods. In return, Washington agreed to forego
antidumping duties on Japanese semiconductors.
But U.S. officials have said that while Japan has stopped
dumping in the U.S. market, it has not ended third country
dumping; nor has it opened its market to U.S. semiconductors.
Japan yesterday, in an effort to ward off U.S. action,
ordered a cutback in semiconductors production as a way to
force prices up and end the dumping.
Bywater, in his statement, said he backed a Defense Science
Board task force proposal to set up a consortium to develop new
electronic products and manufacturing processes and make the
U.S. industory more competitive.
But he added the industry could not wait for legislation to
pass and that action was required now to help the depressed
electronic industry.
Bywater said, "I urge the Reagan Administration to take full
and severe action immediately against Japan by invoking the
retaliatory steps that are permitted under U.S. law and GATT
(General Agreement on Tariffs and Trade)."
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14537" NEWID="9016">
<DATE>24-MAR-1987 16:12:10.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2454reute
u f BC-EXXON-(XON)-GETS-99.2 03-24 0030</UNKNOWN>
<TEXT>
<TITLE>EXXON (XON) GETS 99.2 MLN DLR CONTRACT</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>Exxon Co USA of Houston has been
awarded a 99.2 mln dlr contract for jet fuel, the Defense
Logistics Agency said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14538" NEWID="9017">
<DATE>24-MAR-1987 16:12:45.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2456reute
u f BC-EATON-(ETN)-GETS-53.0 03-24 0035</UNKNOWN>
<TEXT>
<TITLE>EATON (ETN) GETS 53.0 MLN DLR CONTRACT</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>Eaton Corp's AIL Division has
received a 53.0 mln dlr contract for jamming system work for
the EA-6B electronic warfare aircraft, the Navy said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14539" NEWID="9018">
<DATE>24-MAR-1987 16:12:53.77</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>usa</D><D>zaire</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
C G
f2457reute
u f BC-ZAIRE-AUTHORIZED-TO-B 03-24 0077</UNKNOWN>
<TEXT>
<TITLE>ZAIRE AUTHORIZED TO BUY PL 480 RICE - USDA</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>Zaire has been authorized to
purchase about 30,000 tonnes of U.S. rice under an existing PL
480 agreement, the U.S. Agriculture Department said.
It may buy the rice, valued at 5.5 mln dlrs, between March
31 and August 31, 1987, and ship it from U.S. ports by
September 30, the department said.
The purchase authorization covers the entire quantity of
rice provided under the agreement.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14540" NEWID="9019">
<DATE>24-MAR-1987 16:13:26.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2459reute
u f BC-MCDONNELL-DOUGLAS-GET 03-24 0036</UNKNOWN>
<TEXT>
<TITLE>MCDONNELL DOUGLAS GETS 30.6 MLN DLR CONTRACT</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>McDonnell Douglas Corp (MD) has
received a 30.6 mln dlr contract for work on development of the
standoff land attack missile (SLAM), the Navy said.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14541" NEWID="9020">
<DATE>24-MAR-1987 16:15:17.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2463reute
r f BC-MIDIVEST-ACQUIRES-ASS 03-24 0080</UNKNOWN>
<TEXT>
<TITLE>MIDIVEST ACQUIRES ASSETS OF BUSINESS AVIATION</TITLE>
<DATELINE> ROANOKE, Va., March 24 - </DATELINE><BODY><Midivest Inc> said it acquired
all the assets of <Business Aviation Inc> of Sioux Falls, S.D.,
for an undisclosed amount of stock.
Midivest said it expects to sell 10 to 20 of the renovated
Beechcraft planes next year. It said management will also lease
these airborne intensive care units to hospitals and government
subdivisions through Metropolitan Leasing, a wholly-owned
subsidiary of Midivest.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14542" NEWID="9021">
<DATE>24-MAR-1987 16:15:59.31</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>jordan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
C G
f2464reute
u f BC-U.S.-WHEAT-CREDITS-FO 03-24 0113</UNKNOWN>
<TEXT>
<TITLE>U.S. WHEAT CREDITS FOR JORDAN SWITCHED</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>The Commodity Credit Corporation
(CCC) has switched 25.0 mln dlrs in wheat credit guarantees to
Jordan under the Export Credit Guarantee Program to the
Intermediate Export Credit Guarantee Program, the U.S.
Agriculture Department said.
The switch reduces the total value of GSM-102 guarantees
for the current fiscal year to 30.0 mln dlrs.
The credit terms extended for export sales under the
Intermediate Export Credit Guarantee Program (GSM-103) must be
in excess of three years but not more than seven years.
All sales must be registered and exports completed by
September 30, 1987, the department said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14543" NEWID="9022">
<DATE>24-MAR-1987 16:17:44.35</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
V RM
f2474reute
r f BC-DOLLAR-EXPECTED-TO-FA 03-24 0108</UNKNOWN>
<TEXT>
<TITLE>DOLLAR EXPECTED TO FALL DESPITE INTERVENTION</TITLE>
<AUTHOR> By Claire Miller, Reuters</AUTHOR>
<DATELINE> NEW YORK, March 24 - </DATELINE><BODY>Central bank intervention in the
foreign exchange markets succeeded in staunching the dollar's
losses today, but senior dealers here believe the U.S. currency
is headed for a further retreat.
Although the intervention was widespread, dealers perceive
that the six major industrial nations have differing levels of
commitment to their recent accord to stabilize currencies.
Moreover, hard economic realities hold greater sway over
the currency market than central bank intervention and these
argue for a further dollar decline, dealers said.
"The market can be bigger than the central banks. And
economic fundamentals will always come to the fore," said a
dealer at one major U.S. bank.
As the dollar dropped to post-World War II lows against the
yen today foreign exchange traders said the Bank of Japan,
Federal Reserve Board and Bank of England intervened in the
markets on behalf of the U.S. currency.
Reports of the authorities' actions helped the dollar
recover to about 149.45 yen in New York this afternoon from
the post-war low of 148.20 yen in the Far East. But it still
failed to regain Monday's U.S. closing level of 150.00/05 yen.
Tokyo dealers said the Bank of Japan bought one to 1.5
billion dlrs in Tokyo today and may also have purchased dollars
yesterday in the U.S. via the Federal Reserve.
Meanwhile, there were strong rumors in New York that the
Fed also bought a modest amount of dollars around 148.50 yen
today. Talk also circulated that the Bank of England purchased
a small amount of dollars for yen.
The Fed's last confirmed intervention was on January 28
when it bought 50 mln dlrs in coordination with the Bank of
Japan. But on March 11 the Fed also was rumored to have
signalled displeasure with a dollar surge above 1.87 marks.
The authorities' actions appeared to back up the February
22 Paris pact between the U.S., Japan, West Germany, Britain,
France and Canada under which the nations agreed to cooperate
to foster exchange rate stability around prevailing levels.
But foreign exchange dealers were not overly impressed by
the authorities' intervention which they said can only soften
extreme moves in the market.
For one thing, some dealers believed that the Fed's
purchases were done on behalf of the Bank of Japan rather than
for the U.S. central bank's own account, suggesting a rather
watered-down American commitment to the currency accord.
The Bank of England's action also was thought to be
completed on behalf of the Japanese central bank, reinforcing
the market's view that Japan is the most resolute of the six
nations in its support of the currency pact.
"No-one doubts the Bank of Japan is serious. But the other
two central banks seem to be making more token gestures than
anything else," said Chris Bourdain of BankAmerica Corp.
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