📄 reut2-009.sgm
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"I'm not convinced the intervention was concerted," said
Earl Johnson of Harris Trust and Savings Bank in Chicago.
"It's a yen problem more than anything else."
Some dealers said a rising wave of trade protectionist
sentiment in the U.S. limits the extent to which the American
authorities can endorse a stronger dollar against the yen.
"The dollar's break below the key 150 yen level ties the
Treasury's hands behind its back. The U.S. cannot intervene on
its own account because of the strength of protectionism here,"
said Albert Soria of Swiss Bank Corp.
Such comments reflect the view that the currency markets
are becoming increasingly politicized. Despite official
denials, some traders still feel the U.S. would countenance a
lower dollar to help trim the nation's trade deficit.
The majority of the 170 billion dlr merchandise trade
deficit in 1986 was with Japan.
Indeed U.S. Treasury secretary James Baker's comment on
Sunday that the February currency pact had not established
dollar targets was read by the market as a signal to sell the
U.S. currency and kicked off the latest retreat.
"The dollar still has more room on the downside against the
yen based on the frictions in trade and financial services. The
currency market is becoming very political," said Natsuo Okada
of Sumitomo Bank Ltd.
Okada expects the dollar to trade between 148 and 150 yen
this week but sees the chance of a drop to 140 yen by the end
of April or early May.
Even if West Germany and Japan succeed in stimulating their
economies, it may not be enough to solve structural economic
imbalances in the near future, dealers said.
"Even if Japan and West Germany do expand this year, it
won't be enough to help the trade situation much," said
Bourdain of BankAmerica, who also expects the dollar to drop to
148 yen in the next couple of days.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14544" NEWID="9023">
<DATE>24-MAR-1987 16:17:58.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM V
f2475reute
u f BC-/U.S.-TO-SELL-12.8-BI 03-24 0066</UNKNOWN>
<TEXT>
<TITLE>U.S. TO SELL 12.8 BILLION DLRS IN BILLS</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>The U.S. Treasury said it will sell
12.8 billion dlrs of three and six-month bills at its regular
auction next week.
The March 30 sale, to be evenly divided between the three
and six month issues, will result in a paydown of 1.2 billion
dlrs as maturing bills total 13.99 billion dlrs.
The bills will be issued April 2.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14545" NEWID="9024">
<DATE>24-MAR-1987 16:22:32.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2482reute
r f BC-INLAND-STEEL-<IAD>-TO 03-24 0081</UNKNOWN>
<TEXT>
<TITLE>INLAND STEEL <IAD> TO BUILD NEW PLANT IN INDIANA</TITLE>
<DATELINE> SOUTH BEND, Ind., March 24 - </DATELINE><BODY>Inland Steel Industries and
Governor Robert Orr of Indiana said the new joint venture cold-
rolled steel plant between Inland Steel and Nippon Steel Corp
will be built on a site in St. Joseph County Indiana.
Inland Steel said yesterday that the joint venture, to be
named I/N Tek, will cost more than 400 mln dlrs and will employ
over 200 people by the time the companies complete the project
in 1990.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14546" NEWID="9025">
<DATE>24-MAR-1987 16:22:41.79</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2483reute
b f BC-******EASTMAN-KODAK-C 03-24 0093</UNKNOWN>
<TEXT>
<TITLE>EASTMAN KODAK <EK> TO SELL HOLDINGS</TITLE>
<DATELINE> ROCHESTER, N.Y., March 24 - </DATELINE><BODY>Eastman Kodak Co said it plans
to sell its 2.3 pct holding in ICN Pharmaceuticals <ICN> and
part of its nine pct holdings in Viratek <VIRA>.
It said the purpose of the investments had been to lay the
groundwork for the creation of its Nucleic Acid Research
Institute.
Since that has been achieved, there is no longer any reason
to maintain the equity positions, Kodak said.
Kodak holds 470,000 sahres of ICN, currently trading at
about 18-3/4 and 700,000 of Viratek, trading at 44.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14547" NEWID="9026">
<DATE>24-MAR-1987 16:23:12.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>boesky</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2485reute
u f BC-GUINNESS 03-24 0094</UNKNOWN>
<TEXT>
<TITLE>GUINNESS SUES BOESKY IN FEDERAL COURT</TITLE>
<DATELINE> NEW YORK, March 24 - </DATELINE><BODY><Guinness PLC> has joined investors
suing former Wall Street speculator Ivan Boesky, alleging it
was deceived into putting money into his one billion dlr
investment partnership in 1986.
Guinness, the largest limited partner in Ivan F. Boeksy and
Co. L.P., is the latest to file suit in federal court in
Manhattan against Boesky, court papers show.
About 40 other investors have also filed suit over similar
allegations, including that Boesky did not reveal his illegal
insider trading activities.
Guinness is charging it was induced to join in the Boesky
partnership through a prospectus that contained "material untrue
statements and omissions."
The suit also alleged that the Boesky Corporation, which
became a part in the formation of the investment partnership,
Ivan F. Boesky and Co., L.P., "had achieved its extraordinary
rates of return as a result of trading on inside information
and other violations of the securities laws."
In addition, the suit charged that Boesky and other
defendants unlawfully "schemed with and provided substantial
assistance to one another to evade the registration provisions"
of securities law.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14548" NEWID="9027">
<DATE>24-MAR-1987 16:23:23.82</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F E
f2486reute
r f BC-FIRM-REDUCES-SCEPTRE 03-24 0078</UNKNOWN>
<TEXT>
<TITLE>FIRM REDUCES SCEPTRE RESOURCES <SRL> HOLDINGS</TITLE>
<DATELINE> WASHINGTON, March 24 - </DATELINE><BODY>Montreal-based Noverco Inc told the
Securities and Exchange Commission it reduced its stake in
Sceptre Resources Ltd to 1,232,200 shares or 4.8 pct of the
total outstanding.
Noverco said it sold off 400,500 shares "to reduce the
investment of Noverco in Sceptre."
"Additional common shares of Sceptre may be sold or
purchased by Noverco, depending upon market conditions," Noverco
said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14549" NEWID="9028">
<DATE>24-MAR-1987 16:23:35.03</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2487reute
b f BC-******GENCORP-BOARD-W 03-24 0011</UNKNOWN>
<TEXT TYPE="BRIEF">
******<TITLE>GENCORP BOARD WITHDRAWS PROPOSALS TO STAGGER DIRECTORS TERMS
</TITLE>Blah blah blah.

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14550" NEWID="9029">
<DATE>24-MAR-1987 16:26:21.04</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
E
f2496reute
d f BC-<ACKLANDS-LTD>-1ST-QT 03-24 0029</UNKNOWN>
<TEXT>
<TITLE><ACKLANDS LTD> 1ST QTR FEB 28 NET</TITLE>
<DATELINE> TORONTO, March 24 -
</DATELINE><BODY>Shr three cts vs 11 cts
Net 126,000 vs 434,000
Revs 84.0 mln vs 80.2 mln
Avg shrs 4,948,731 vs 3,870,511
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14551" NEWID="9030">
<DATE>24-MAR-1987 16:30:25.13</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2511reute
d f BC-BULL-AND-BEAR-GROUP-A 03-24 0078</UNKNOWN>
<TEXT>
<TITLE>BULL AND BEAR GROUP A <BNBGA> CUTS FUND PAYOUTS</TITLE>
<DATELINE> NEW YORK, March 24 - </DATELINE><BODY>Bull and Bear Group A said it lowered
its monthly dividends on three of its funds.
It said it lowered its Tax Free Income Fund <BLTFX> to 10.3
cts from 10.6 cts; its U.S. Government Guaranteed Securities
Fund <BBUSX> to 11.5 cts from 11.8 cts; and its High Yield Fund
<BULHX> to 14 cts from 14.2 cts.
All dividends are payable March 31 to shareholders of
record March 25, the company said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14552" NEWID="9031">
<DATE>24-MAR-1987 16:30:42.93</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
Y
f2513reute
r f BC-CALTEX-TO-RAISE-BAHRA 03-24 0107</UNKNOWN>
<TEXT>
<TITLE>CALTEX TO RAISE BAHRAIN OIL PRODUCT PRICES</TITLE>
<DATELINE> NEW YORK, March 24 - </DATELINE><BODY>Caltex Petroleum Corp said it will
raise
posted prices for naphtha and several grades of residual fuel
in Bahrain, effective March 25.
Caltex, a joint venture of Chevron Corp <CHV> and Texaco
INC <TX>, said its naphtha posting is up four cts a gallon to
43 cts. It said it is raising its marine diesel oil posting by
30 cts a barrel to 20.24 dlrs a barrel.
Light, medium, and heavy fuel oil postings are up 1.50 dlrs
a barrel, the company said. This will bring the light fuel oil
price to 16.90 dlrs, medium to 15.50 dlrs, and heavy to 14.60
dlrs, the company said.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="14553" NEWID="9032">
<DATE>24-MAR-1987 16:31:01.12</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f2515reute
u f BC-CHARTER-CO-<QCHR>-TO 03-24 0093</UNKNOWN>
<TEXT>
<TITLE>CHARTER CO <QCHR> TO COMPLETE REORGANIZATION</TITLE>
<DATELINE> JACKSONVILLE, Fla., March 24 - </DATELINE><BODY>Charter Co, the huge
petrochemical concern in bankruptcy proceedings stemming from
hundreds of dioxin-related claims, said it and all of its
subsidiaries, except the Independent Petrochemical Corp, will
complete their reorganization on March 31.
It said that on that date, it will deposit with an escrow
agent 288.8 mln dlrs in cash, 66.7 mln dlrs in notes and 31 mln
shares of its common for distribution.
Company officials were not immediately available for
comment.
As previously reported, Charter settled dioxin-related
claims for about 1,200 individuals and the state of Missouri,
resolving claims against it and all subsidiaries except
Independent Petrochemical.
Charter said some of the settlements remain subject to
appeals and final court approvals and resolve claims against
charter and its subsidiaries except Independent Petrochemical.
It said about 500 individual claims against it and certain
of its units remain pending as disputed claims in bankruptcy
court. It said about 300 of these claims have been filed since
confirmation of the joint plan of reorganization.
Charter said its two creditors, an equity committee in its
bankruptcy proceedings and <American Financial Corp>, which
will own 50.5 pct of its common after the reorganization, have
waived the requirement that Charter resolve all dioxin-related
claims against it prior to completing its reorganization.
That requirement excludes claims against Independent
Petrochemical. Charter also said a plan for liquidation of
Independent has been approved by the bankruptcy court and will
be completed after March 31.
Earlier, Charter reported net income for the year of 153.2
mln dlrs, which included a gain of 28.5 mln dlrs for
discontinued operations and 114.8 mln dlrs for the settlement
of claims in its reorganization proceedings.
In 1985, it reported earnings of 1,274,000 dlrs, which
included a loss of 36.3 mln dlrs for discontinued operations
and 29.4 mln dlrs for extraordinary items.
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