Front Page News 1991 January to 1991 December/Front Page News 1991 - Wayzata Technology (5016) (1992).iso/_data/fpn91.cdt

TextWare CDT File | 1992-02-12 | 491.9 MB | 8,886,953 lines

BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0095g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0095f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0095e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0095d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 466
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0095c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0095b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0095a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 11:00 P.M.
12/31/91
91365y0095  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 616
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0094j  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 411
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0094i  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0094g  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0094f  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 410
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365y0094e  Newsgrid News
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
-30- 583
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0094d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 631
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0094c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0094b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0094a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 11:00 P.M.
12/31/91
91365y0094  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The market shook off bouts of profit taking and waves of computer-driven sell
programs to help the Dow score a whopping 254.47-point gain over the seven-day
winning streak fueled by investor hopes for an economic recovery in 1992.
-30- 820
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0093i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0093h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0093g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0093f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0093e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0093d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0093c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0093b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 428
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0093a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 11:00 P.M.
12/31/91
91365y0093  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 834
SPORTS TRANSACTIONS
12/31/91
91365y0092i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0091g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0091f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0091e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0091d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 466
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0091c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0091b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0091a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 10:00 P.M.
12/31/91
91365y0091  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 616
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0090j  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 411
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0090i  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0090h  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0090g  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0090f  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 410
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365y0090e  Newsgrid News
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
-30- 583
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0090d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 631
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0090c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0090b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0090a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 10:00 P.M.
12/31/91
91365y0090  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The market shook off bouts of profit taking and waves of computer-driven sell
programs to help the Dow score a whopping 254.47-point gain over the seven-day
winning streak fueled by investor hopes for an economic recovery in 1992.
-30- 820
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0089i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0089h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0089g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0089f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0089e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0089d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0089c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0089b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 428
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0089a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 10:00 P.M.
12/31/91
91365y0089  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 834
SPORTS TRANSACTIONS
12/31/91
91365y0088i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0087g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0087f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0087e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0087d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0087c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0087b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0087a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 9:00 P.M.
12/31/91
91365y0087  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0086j  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 411
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0086i  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0086h  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0086g  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0086f  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 409
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365y0086e  Newsgrid News
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
-30- 583
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0086d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 631
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0086c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0086b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0086a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 9:00 P.M.
12/31/91
91365y0086  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The market shook off bouts of profit taking and waves of computer-driven sell
programs to help the Dow score a whopping 254.47-point gain over the seven-day
winning streak fueled by investor hopes for an economic recovery in 1992.
-30- 819
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0085i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0085h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0085g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0085f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0085e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0085d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0085c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0085b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0085a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 9:00 P.M.
12/31/91
91365y0085  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
SPORTS TRANSACTIONS
12/31/91
91365y0084i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0083g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0083f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0083e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0083d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0083c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0083b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0083a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 8:00 P.M.
12/31/91
91365y0083  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0082j  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 411
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0082i  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0082h  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0082g  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0082f  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 409
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365y0082e  Newsgrid News
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
-30- 583
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0082d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 631
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0082c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0082b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0082a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 8:00 P.M.
12/31/91
91365y0082  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The market shook off bouts of profit taking and waves of computer-driven sell
programs to help the Dow score a whopping 254.47-point gain over the seven-day
winning streak fueled by investor hopes for an economic recovery in 1992.
-30- 819
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0081i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0081h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0081g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0081f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0081e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0081d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0081c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0081b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0081a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 8:00 P.M.
12/31/91
91365y0081  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
SPORTS TRANSACTIONS
12/31/91
91365y0080i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0079g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0079f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0079e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0079d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0079c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0079b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0079a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 7:00 P.M.
12/31/91
91365y0079  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0078j  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 411
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0078i  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0078h  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0078g  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0078f  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 409
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365y0078e  Newsgrid News
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
-30- 583
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0078d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 631
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0078c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0078b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0078a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 7:00 P.M.
12/31/91
91365y0078  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The market shook off bouts of profit taking and waves of computer-driven sell
programs to help the Dow score a whopping 254.47-point gain over the seven-day
winning streak fueled by investor hopes for an economic recovery in 1992.
-30- 819
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0077i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0077h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0077g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0077f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0077e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0077d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0077c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0077b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0077a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 7:00 P.M.
12/31/91
91365y0077  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
SPORTS TRANSACTIONS
12/31/91
91365y0076i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0075g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0075f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0075e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0075d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0075c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0075b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0075a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 6:00 P.M.
12/31/91
91365y0075  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0074j  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 411
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0074i  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0074h  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0074g  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0074f  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 410
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365y0074e  Newsgrid News
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
-30- 583
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0074d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 631
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0074c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0074b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0074a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 6:00 P.M.
12/31/91
91365y0074  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The market shook off bouts of profit taking and waves of computer-driven sell
programs to help the Dow score a whooping 254.47-point gain over the seven-day
winning streak fueled by investor hopes for an economic recovery in 1992.
-30- 820
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0073i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0073h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0073g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0073f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0073e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0073d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0073c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0073b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0073a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 6:00 P.M.
12/31/91
91365y0073  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
SPORTS TRANSACTIONS
12/31/91
91365y0072i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0071g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0071f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0071e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0071d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0071c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0071b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0071a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 5:00 P.M.
12/31/91
91365y0071  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN
12/31/91
91365y0070j  Newsgrid News
WASHINGTON (DEC. 31) UPI - American farmers must develop alternative high-tech
uses for grains if they hope to thrive in the world market, said Agriculture
Secretary Edward Madigan in his year-end radio address Tuesday.
During a telephone news conference with reporters from around the country,
Madigan predicted that more American farmers will profit during the 1990's if
they harvest alternative sources for grains.
-30- 454
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0070i  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 481
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0070h  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0070g  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0070f  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 334
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0070e  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 409
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0070d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 633
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0070c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0070b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0070a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 5:00 P.M.
12/31/91
91365y0070  Newsgrid News
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING
NEW YORK (DEC. 31) UPI - Stocks closed higher in heavy trading Tuesday,
ringing out 1991 with a spectacular seven-day rally that propelled the market
into record highs four times in the last four trading days of the year.
The Dow Jones industrial average, which surged 62.39 to another record high of
3163.91 Monday, added 5.59 points to an all-time high of 3169.50, according to
an unofficial tally.
-30- 754
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0069i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 378
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0069h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0069g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0069f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0069e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0069d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0069c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0069b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0069a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 5:00 P.M.
12/31/91
91365y0069  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
SPORTS TRANSACTIONS
12/31/91
91365y0068i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0067g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0067f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0067e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0067d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0067c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0067b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0067a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 4:00 P.M.
12/31/91
91365y0067  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 621
AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN
12/31/91
91365y0066j  Newsgrid News
WASHINGTON (DEC. 31) UPI - American farmers must develop alternative high-tech
uses for grains if they hope to thrive in the world market, said Agriculture
Secretary Edward Madigan in his year-end radio address Tuesday.
During a telephone news conference with reporters from around the country,
Madigan predicted that more American farmers will profit during the 1990's if
they harvest alternative sources for grains.
-30- 454
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365y0066i  Newsgrid News
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
-30- 481
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
12/31/91
91365y0066h  Newsgrid News
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
-30- 289
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0066g  Newsgrid News
unit received .27 shares of new common stock.
-30- 81
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0066f  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0066e  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 409
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365y0066d  Newsgrid News
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
-30- 633
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365y0066c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 427
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
12/31/91
91365y0066b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 593
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0066a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 460
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 4:00 P.M.
12/31/91
91365y0066  Newsgrid News
 1.  NYSE STOCK PRICES REMAIN LOWER IN HEAVY TRADING AT 3 P.M.; DOW OFF 7.60
NEW YORK (DEC. 31) UPI - Stock prices late Tuesday recovered a little in heavy
trading, after dipping around midday, as the market met some computer-driven
sell programs and profit-taking following a six-session winning streak.
The Dow Jones industrial average, which surged 62.39 to another record high of
3163.91 Monday, was off 7.60 points to 3156.31 at 3 p.m. EST. The key
barometer was down about 20 points earlier.
-30- 791
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0065i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0065h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0065g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0065f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0065e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0065d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0065c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0065b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 428
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0065a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 4:00 P.M.
12/31/91
91365y0065  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 839
SPORTS TRANSACTIONS
12/31/91
91365y0064i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0063g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0063f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0063e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0063d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0063c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0063b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0063a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 3:00 P.M.
12/31/91
91365y0063  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN
12/31/91
91365y0062j  Newsgrid News
WASHINGTON (DEC. 31) UPI - American farmers must develop alternative high-tech
uses for grains if they hope to thrive in the world market, said Agriculture
Secretary Edward Madigan in his year-end radio address Tuesday.
During a telephone news conference with reporters from around the country,
Madigan predicted that more American farmers will profit during the 1990's if
they harvest alternative sources for grains.
-30- 454
DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
12/31/91
91365y0062i  Newsgrid News
CULVER CITY, CA (DEC. 30) PR NEWSWIRE - Citing no fewer than nine "materially
disruptive" breaches of the agreements by which Italian financier Giancarlo
Parretti ceded control of MGM-Pathe Communications Co. last April, a Delaware
judge today confirmed Parretti's removal from the MGM-Pathe board and his loss
of control of the studio.  The decision followed a lengthy trial that had
recently been reopened for additional evidence, which Parretti did not contest
 that Parretti had faked a key document he had relied upon and testified about
in the trial.
In an 89-page opinion replete with instances in which he found Parretti's
testimony on material issues "untruthful," Chancellor William Allen criticized
Parretti's financial dealings in connection with his acquisition of MGM in
1990 and his "efforts to continue to dominate and control the management of
MGM" under Chief Executive Alan Ladd, Jr. Ladd became MGM chairman and chief
executive officer in April 1991, pursuant too a series of written agreements
under which Parretti had given up control of the studio in exchange for a
multi-million dollar cash infusion from studio lender Credit Lyonnais Bank
Nederland, N.V. (CLBN) that rescued MGM from bankruptcy.
-30- 1279
CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
12/31/91
91365y0062h  Newsgrid News
WEST PALM BEACH, FL (DEC. 31) PR NEWSWIRE - CV Reit Inc. (NYSE: CVI),
announced today it has completed the previously announced refinancing of its
recreation notes receivable in a private placement by an investment banking
firm.  The refinancing resulted in the company borrowing approximately $44
million on a 15-year self-amortizing loan at an interest rate of 8.84 percent.
 "The proceeds from the loan were used to acquire an outstanding prior first
mortgage on one of the properties that is security for one of the notes, and
to retire a $39.2 million bank loan that would have matured in 1993," Alvin
Wilensky, president, said.
He also noted that the company has become aware of the existence of two
lawsuits filed by other institutional lenders against Cenvill Development
Corporation and various of its subsidiaries alleging defaults by Cenvill
Development under certain loan agreements.  CV Reit is owed approximately $49
million on mortgage loans by Cenvill Development and several subsidiaries, all
of which are current and in good standing at this time, he added.  "Should a
default occur in any of the loans due the company, there may be an adverse
effect on the company's earnings and on its future declaration of dividends,"
Wilensky said.
-30- 1316
-for-one exchange ratio for the preference units, and the one-for-five
12/31/91
91365y0062g  Newsgrid News
unit received .27 shares of new common stock.
-30- 64
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
12/31/91
91365y0062f  Newsgrid News
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
-30- 333
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365y0062e  Newsgrid News
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
-30- 409
STERLING OPTICAL CORP. FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION
12/31/91
91365y0062d  Newsgrid News
HACKENSACK, NJ (DEC. 31) UPI - Sterling Optical Corp. said Tuesday it filed
for bankruptcy protection from its creditors as part of an agreement for the
sale of its eyeglass stores to American Vision Centers Inc.
Sterling filed the Chapter 11 bankruptcy petition in the Southern District of
New York.
-30- 319
CHEMICAL BANKING CORP. AND MANUFACTURERS HANOVER CORP. OFFICIALLY MERGE
12/31/91
91365y0062c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 420
U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
12/31/91
91365y0062b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main forecasting
gauge of future economic activity fell 0.3 percent in November, the index's
fourth straight month of virtual stagnation.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 482
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0062a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 459
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 3:00 P.M.
12/31/91
91365y0062  Newsgrid News
 1.  MARKETS AT A GLANCE - 2 P.M.
(DEC. 31) UPI - Markets at a Glance - 2 p.m.
NYSE Stocks - Mixed in moderate trading.
Bonds - Mixed.
American Stocks - Mixed in moderate trading.
London Stocks - Closed sharply higher in moderate trading.
German Stocks - Closed for the holidays.
Tokyo Stocks - Closed for the holidays.
Dollar - Mixed against key foreign currencies.
Gold Futures - Higher.
Cotton - Lower.
Chicago Grain Futures - Mostly higher.
Cattle trade - Sales insufficient to establish a market trend.
-30- 831
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365y0061i  Newsgrid News
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
-30- 377
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0061h  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 572
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0061g  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0061f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 385
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0061e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0061d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0061c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0061b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0061a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 3:00 P.M.
12/31/91
91365y0061  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
SPORTS TRANSACTIONS
12/31/91
91365y0060i  Newsgrid News
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
-30- 29
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0059g  Newsgrid News
2RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365y0059f  Newsgrid News
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
-30- 309
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0059e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0059d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0059c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0059b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0059a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 2:00 P.M.
12/31/91
91365y0059  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
12/31/91
91365y0058i  Newsgrid News
CULVER CITY, CA (DEC. 30) PR NEWSWIRE - Citing no fewer than nine "materially
disruptive" breaches of the agreements by which Italian financier Giancarlo
Parretti ceded control of MGM-Pathe Communications Co. last April, a Delaware
judge today confirmed Parretti's removal from the MGM-Pathe board and his loss
of control of the studio.  The decision followed a lengthy trial that had
recently been reopened for additional evidence, which Parretti did not contest
 that Parretti had faked a key document he had relied upon and testified about
in the trial.
In an 89-page opinion replete with instances in which he found Parretti's
testimony on material issues "untruthful," Chancellor William Allen criticized
Parretti's financial dealings in connection with his acquisition of MGM in
1990 and his "efforts to continue to dominate and control the management of
MGM" under Chief Executive Alan Ladd, Jr. Ladd became MGM chairman and chief
executive officer in April 1991, pursuant too a series of written agreements
under which Parretti had given up control of the studio in exchange for a
multi-million dollar cash infusion from studio lender Credit Lyonnais Bank
Nederland, N.V. (CLBN) that rescued MGM from bankruptcy.
-30- 1210
CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
12/31/91
91365y0058h  Newsgrid News
WEST PALM BEACH, FL (DEC. 31) PR NEWSWIRE - CV Reit Inc. (NYSE: CVI),
announced today it has completed the previously announced refinancing of its
recreation notes receivable in a private placement by an investment banking
firm.  The refinancing resulted in the company borrowing approximately $44
million on a 15-year self-amortizing loan at an interest rate of 8.84 percent.
 "The proceeds from the loan were used to acquire an outstanding prior first
mortgage on one of the properties that is security for one of the notes, and
to retire a $39.2 million bank loan that would have matured in 1993," Alvin
Wilensky, president, said.
He also noted that the company has become aware of the existence of two
lawsuits filed by other institutional lenders against Cenvill Development
Corporation and various of its subsidiaries alleging defaults by Cenvill
Development under certain loan agreements.  CV Reit is owed approximately $49
million on mortgage loans by Cenvill Development and several subsidiaries, all
of which are current and in good standing at this time, he added.  "Should a
default occur in any of the loans due the company, there may be an adverse
effect on the company's earnings and on its future declaration of dividends,"
Wilensky said.
-30- 1315
SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
12/31/91
91365y0058g  Newsgrid News
DAYTON, OH (DEC. 31) BUSINESS WIRE - Super Food Services Inc. (NYSE:SFS)
Tuesday announced sales and earnings for the first 12 weeks of fiscal 1992
ending Nov. 23, 1991.
Super Food Services, one of the country's largest publicly-owned, voluntary
food wholesalers reported net sales of $440,616,587 compared with $424,411,734
in the first 12 weeks of fiscal 1991 or an increase of four percent.
-30- 408
ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE
12/31/91
91365y0058f  Newsgrid News
NORWOOD, MA (DEC. 31) PR NEWSWIRE - Analog Devices, Inc. (NYSE: ADI) today
announced that it has been awarded a five-year, $9 million contract by the
U.S. Army Strategic Defense Command (USASDC).  Under the Phase II contract,
Analog will develop two radiation-hardened mixed-signal integrated circuits
for use in the Strategic Defense Initiative (SDI) program.  Both devices are
ultrahigh-performance monolithic analog-to-digital converters that employ the
company's proprietary high-speed pipelined multiple-flash architecture.  One
is a 10-bit, one-million-samples-per-second (MSPS) device and the other is a
12-bit, 10-MSPS device with additional on-chip functionality.
The contract also calls for further development of Analog's proprietary
advanced radiation-hardened bipolar CMOS process, RBCMOS, which will be used
to manufacture the two ICs.
-30- 972
IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
12/31/91
91365y0058e  Newsgrid News
ATLANTA (DEC. 31) PR NEWSWIRE - IRT Property Company (NYSE: IRT), the
southeastern shopping center REIT, today announced the sale of its USG
industrial facility in Medina, Ohio, for $1 million cash.
This facility consisted of a single tenant building and approximately 19 acres
of vacant land.  The sale, which was closed on Dec. 27, resulted in a gain to
the company of approximately $784,000, or 6 cents per share.
-30- 448
STERLING OPTICAL CORP. FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION
12/31/91
91365y0058d  Newsgrid News
HACKENSACK, NJ (DEC. 31) UPI - Sterling Optical Corp. said Tuesday it filed
for bankruptcy protection from its creditors as part of an agreement for the
sale of its eyeglass stores to American Vision Centers Inc.
Sterling filed the Chapter 11 bankruptcy petition in the Southern District of
New York.
-30- 330
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY MERGE
12/31/91
91365y0058c  Newsgrid News
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest bank U.S. holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
-30- 420
U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
12/31/91
91365y0058b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main forecasting
gauge of future economic activity fell 0.3 percent in November, the index's
fourth straight month of virtual stagnation.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 464
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0058a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
-30- 459
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 2:00 P.M.
12/31/91
91365y0058  Newsgrid News
 1.  TUESDAY'S NYSE STOCKS REMAIN AT MIXED LEVELS AT 1 P.M.; DOW OFF 9.84
NEW YORK (DEC. 31) UPI - Stock prices remained at mixed levels in heavy early
afternoon trading Tuesday as the market met some profit-taking following a
six-session winning streak that boosted the market to record highs three times
in the past three trading days.
The Dow Jones industrial average, which surged 62.39 to another record high of
3163.91 Monday, was down 9.84 points to 3154.07 at 1 p.m. EST. The key
barometer was up more than 20 points earlier.
-30- 826
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0057i  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 497
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0057h  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365y0057g  Newsgrid News
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
-30- 400
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0057f  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 379
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0057e  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365y0057d  Newsgrid News
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
-30- 362
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
12/31/91
91365y0057c  Newsgrid News
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
-30- 433
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0057b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 427
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0057a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 2:00 P.M.
12/31/91
91365y0057  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365y0055g  Newsgrid News
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
-30- 530
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0055f  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 417
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0055e  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0055d  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0055c  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 506
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365y0055b  Newsgrid News
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
-30- 306
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0055a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 373
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 1:00 P.M.
12/31/91
91365y0055  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 615
DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
12/31/91
91365y0054i  Newsgrid News
CULVER CITY, CA (DEC. 30) PR NEWSWIRE - Citing no fewer than nine "materially
disruptive" breaches of the agreements by which Italian financier Giancarlo
Parretti ceded control of MGM-Pathe Communications Co. last April, a Delaware
judge today confirmed Parretti's removal from the MGM-Pathe board and his loss
of control of the studio.  The decision followed a lengthy trial that had
recently been reopened for additional evidence, which Parretti did not contest
 that Parretti had faked a key document he had relied upon and testified about
in the trial.
In an 89-page opinion replete with instances in which he found Parretti's
testimony on material issues "untruthful," Chancellor William Allen criticized
Parretti's financial dealings in connection with his acquisition of MGM in
1990 and his "efforts to continue to dominate and control the management of
MGM" under Chief Executive Alan Ladd, Jr. Ladd became MGM chairman and chief
executive officer in April 1991, pursuant too a series of written agreements
under which Parretti had given up control of the studio in exchange for a
multi-million dollar cash infusion from studio lender Credit Lyonnais Bank
Nederland, N.V. (CLBN) that rescued MGM from bankruptcy.
-30- 1209
CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
12/31/91
91365y0054h  Newsgrid News
WEST PALM BEACH, FL (DEC. 31) PR NEWSWIRE - CV Reit Inc. (NYSE: CVI),
announced today it has completed the previously announced refinancing of its
recreation notes receivable in a private placement by an investment banking
firm.  The refinancing resulted in the company borrowing approximately $44
million on a 15-year self-amortizing loan at an interest rate of 8.84 percent.
 "The proceeds from the loan were used to acquire an outstanding prior first
mortgage on one of the properties that is security for one of the notes, and
to retire a $39.2 million bank loan that would have matured in 1993," Alvin
Wilensky, president, said.
He also noted that the company has become aware of the existence of two
lawsuits filed by other institutional lenders against Cenvill Development
Corporation and various of its subsidiaries alleging defaults by Cenvill
Development under certain loan agreements.  CV Reit is owed approximately $49
million on mortgage loans by Cenvill Development and several subsidiaries, all
of which are current and in good standing at this time, he added.  "Should a
default occur in any of the loans due the company, there may be an adverse
effect on the company's earnings and on its future declaration of dividends,"
Wilensky said.
-30- 1316
SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
12/31/91
91365y0054g  Newsgrid News
DAYTON, OH (DEC. 31) BUSINESS WIRE - Super Food Services Inc. (NYSE:SFS)
Tuesday announced sales and earnings for the first 12 weeks of fiscal 1992
ending Nov. 23, 1991.
Super Food Services, one of the country's largest publicly-owned, voluntary
food wholesalers reported net sales of $440,616,587 compared with $424,411,734
in the first 12 weeks of fiscal 1991 or an increase of four percent.
-30- 408
ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE
12/31/91
91365y0054f  Newsgrid News
NORWOOD, MA (DEC. 31) PR NEWSWIRE - Analog Devices, Inc. (NYSE: ADI) today
announced that it has been awarded a five-year, $9 million contract by the
U.S. Army Strategic Defense Command (USASDC).  Under the Phase II contract,
Analog will develop two radiation-hardened mixed-signal integrated circuits
for use in the Strategic Defense Initiative (SDI) program.  Both devices are
ultrahigh-performance monolithic analog-to-digital converters that employ the
company's proprietary high-speed pipelined multiple-flash architecture.  One
is a 10-bit, one-million-samples-per-second (MSPS) device and the other is a
12-bit, 10-MSPS device with additional on-chip functionality.
The contract also calls for further development of Analog's proprietary
advanced radiation-hardened bipolar CMOS process, RBCMOS, which will be used
to manufacture the two ICs.
-30- 972
IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
12/31/91
91365y0054e  Newsgrid News
ATLANTA (DEC. 31) PR NEWSWIRE - IRT Property Company (NYSE: IRT), the
southeastern shopping center REIT, today announced the sale of its USG
industrial facility in Medina, Ohio, for $1 million cash.
This facility consisted of a single tenant building and approximately 19 acres
of vacant land.  The sale, which was closed on Dec. 27, resulted in a gain to
the company of approximately $784,000, or 6 cents per share.
-30- 448
GEORGIA-PACIFIC AND BOWATER COMPLETE JOINT ARRANGEMENT REGARDING MAINE
12/31/91
91365y0054d  Newsgrid News
ATLANTA (DEC. 31) PR NEWSWIRE - Georgia-Pacific Corp. (NYSE: GP) today said
that Bowater Incorporated (NYSE: BOW) and Georgia-Pacific have entered into
the previously announced joint arrangement regarding the company's Millinocket
and East Millinocket, Maine, mills, hydroelectric assets that power the mills,
the Pinkham Lumber Co. at Ashland, Maine, and approximately 2.1 million acres
of associated timberland.
For $300 million in cash, Bowater purchased an 80 percent ownership position
in the operations.  The jointly owned company, which is called Great Northern
Paper, Inc., will be managed by Bowater.
-30- 730
STANDARD FEDERAL BANK RECEIVES APPROVAL FOR FIVE AFFORDABLE HOUSING
12/31/91
91365y0054c  Newsgrid News
TROY, MI (DEC. 31) PR NEWSWIRE - Standard Federal Bank (NYSE: SFB) announced
that it has received $329,644.46 from the Federal Home Loan Bank (FHLB) of
Indianapolis, to finance five Affordable Housing projects totaling 91 housing
units in Michigan and Indiana.  The funds will be used for the following
projects:
Core City Neighborhoods, Inc., Detroit, interest rate subsidy, $46,433.46.
-30- 496
U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
12/31/91
91365y0054b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main forecasting
gauge of future economic activity fell 0.3 percent in November, the index's
fourth straight month of virtual stagnation.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
-30- 478
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0054a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November despite a drop in mortgage rates and home prices, the government said
Tuesday.
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
-30- 423
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 1:00 P.M.
12/31/91
91365y0054  Newsgrid News
 1.  TUESDAY'S NYSE STOCKS TURN NARROWLY MIXED AT MIDDAY; DOW OFF 7.60 POINTS
NEW YORK (DEC. 31) UPI - Stock prices turned narrowly mixed at midday Tuesday
in heavy trading, after running into some profit taking, following a
six-session winning streak that has boosted the market to record highs three
times in the past three trading days.
The Dow Jones industrial average, which surged 62.39 to another record high of
3163.91 Monday, was down 7.60 points to 3156.31 at noon EST. The key barometer
was up more than 20 points earlier.
-30- 827
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0053i  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 497
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0053h  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 513
CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
12/31/91
91365y0053g  Newsgrid News
ZAGREB (DEC. 31) DPA - In the face of a increased shelling by federal Yugoslav
troops, Croatian President Franjo Tudjman declared Tuesday in Zagreb that his
forces would fight to regain lost territory with or without international aid.
His remarks came as federal forces stepped up their artillery barrage on
cities and towns in eastern Croatia in a renew bid for control of the
strategic region bordering Serbia.
-30- 523
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365y0053f  Newsgrid News
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
-30- 393
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0053e  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 379
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0053d  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
12/31/91
91365y0053c  Newsgrid News
MOSCOW DEC. 31) DPA - Battles for control of the Georgian capital intensified
Tuesday in advance of a rebel-proclaimed unilateral New Year's ceasefire which
held out the prospect for peace talks.
Rebels in the erstwhile Soviet republic said their forces would hold fire on
New Year's Eve. But they renewed their demand for besieged President Zviad
Gamsakhurdia to surrender.
-30- 403
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0053b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 432
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0053a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 1:00 P.M.
12/31/91
91365y0053  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 833
points Monday, surged 73.1 points or 3 percent to 2,493. 1 in a half day
12/31/91
91365y0051j  Newsgrid News
-30- 8
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0051g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 395
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0051f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0051e  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 417
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0051d  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0051c  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0051b  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
12/31/91
91365y0051a  Newsgrid News
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 381
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 12:00 P.M.
12/31/91
91365y0051  Newsgrid News
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
-30- 622
ARMCO/CYCLOPS SHAREHOLDERS' MEETINGS TO BE RESCHEDULED FOR END OF JANUARY
12/31/91
91365y0050i  Newsgrid News
PARSIPPANY, NJ (DEC. 31) PR NEWSWIRE - Armco Inc. (NYSE: AS), Parsippany, and
Cyclops Industries, Inc. (NYSE: CYC), Pittsburgh, jointly announced today that
they will reschedule shareholders' meetings originally scheduled for the end
of January.  The purpose of the meetings is to obtain approval from
shareholders of both companies for the proposed merger of Armco and Cyclops.
Specific shareholder record and meeting dates will be established and
announced later.
The companies cited as reasons for rescheduling the shareholder votes various
regulatory approvals which are taking more time than originally expected, and,
given the delayed schedule, the likely requirement of providing shareholders
audited financial information for the full year 1991.  The companies expect to
complete the transaction in the first quarter of 1992.
-30- 808
SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
12/31/91
91365y0050h  Newsgrid News
DAYTON, OH (DEC. 31) BUSINESS WIRE - Super Food Services Inc. (NYSE:SFS)
Tuesday announced sales and earnings for the first 12 weeks of fiscal 1992
ending Nov. 23, 1991.
Super Food Services, one of the country's largest publicly-owned, voluntary
food wholesalers reported net sales of $440,616,587 compared with $424,411,734
in the first 12 weeks of fiscal 1991 or an increase of four percent.
-30- 431
ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE
12/31/91
91365y0050g  Newsgrid News
NORWOOD, MA (DEC. 31) PR NEWSWIRE - Analog Devices, Inc. (NYSE: ADI) today
announced that it has been awarded a five-year, $9 million contract by the
U.S. Army Strategic Defense Command (USASDC).  Under the Phase II contract,
Analog will develop two radiation-hardened mixed-signal integrated circuits
for use in the Strategic Defense Initiative (SDI) program.  Both devices are
ultrahigh-performance monolithic analog-to-digital converters that employ the
company's proprietary high-speed pipelined multiple-flash architecture.  One
is a 10-bit, one-million-samples-per-second (MSPS) device and the other is a
12-bit, 10-MSPS device with additional on-chip functionality.
The contract also calls for further development of Analog's proprietary
advanced radiation-hardened bipolar CMOS process, RBCMOS, which will be used
to manufacture the two ICs.
-30- 972
IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
12/31/91
91365y0050f  Newsgrid News
ATLANTA (DEC. 31) PR NEWSWIRE - IRT Property Company (NYSE: IRT), the
southeastern shopping center REIT, today announced the sale of its USG
industrial facility in Medina, Ohio, for $1 million cash.
This facility consisted of a single tenant building and approximately 19 acres
of vacant land.  The sale, which was closed on Dec. 27, resulted in a gain to
the company of approximately $784,000, or 6 cents per share.
-30- 448
GEORGIA-PACIFIC AND BOWATER COMPLETE JOINT ARRANGEMENT REGARDING MAINE
12/31/91
91365y0050e  Newsgrid News
ATLANTA (DEC. 31) PR NEWSWIRE - Georgia-Pacific Corp. (NYSE: GP) today said
that Bowater Incorporated (NYSE: BOW) and Georgia-Pacific have entered into
the previously announced joint arrangement regarding the company's Millinocket
and East Millinocket, Maine, mills, hydroelectric assets that power the mills,
the Pinkham Lumber Co. at Ashland, Maine, and approximately 2.1 million acres
of associated timberland.
For $300 million in cash, Bowater purchased an 80 percent ownership position
in the operations.  The jointly owned company, which is called Great Northern
Paper, Inc., will be managed by Bowater.
-30- 730
STANDARD FEDERAL BANK RECEIVES APPROVAL FOR FIVE AFFORDABLE HOUSING
12/31/91
91365y0050d  Newsgrid News
TROY, MI (DEC. 31) PR NEWSWIRE - Standard Federal Bank (NYSE: SFB) announced
that it has received $329,644.46 from the Federal Home Loan Bank (FHLB) of
Indianapolis, to finance five Affordable Housing projects totaling 91 housing
units in Michigan and Indiana.  The funds will be used for the following
projects:
Core City Neighborhoods, Inc., Detroit, interest rate subsidy, $46,433.46.
-30- 496
NEW YORK DAILY NEWS ASSURED OF ADEQUATE CASH FLOW FOR TWO MONTHS
12/31/91
91365y0050c  Newsgrid News
NEW YORK (DEC. 31) UPI - The New York Daily News had $8 million in cash as of
Tuesday and will have an adequate cash flow to continue publishing in January
and February, according to a management statement.
The statement was issued Monday following the first meeting of the tabloid's
executives with representatives of its unsecured creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
-30- 480
U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
12/31/91
91365y0050b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main economic
forecasting gauge of future economic activity fell 0.3 percent in November,
the index's fourth straight month of virtual stagnation.
The Commerce Department report showed a drop in seven of the 11 leading
economic indicators.
-30- 322
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0050a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November despite a drop in mortgage rates and home prices, the government said
Tuesday.
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
-30- 423
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 12:00 P.M.
12/31/91
91365y0050  Newsgrid News
 1.  TUESDAY'S NYSE STOCKS MOVE HIGHER IN ACTIVE TRADING AT 11 A.M.; DOW UP
    17.89
NEW YORK (DEC. 31) UPI -  Stock prices were higher in active trading early
Tuesday, continuing the six-session winning streak that has boosted the market
to record highs three times in the past three trading days.
The Dow Jones industrial average, which surged 62.39 to another record high of
3163.91 Monday, was ahead 17.89 points to 3181.80 at 11 a.m. EST.
-30- 742
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365y0049i  Newsgrid News
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
-30- 497
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365y0049h  Newsgrid News
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
-30- 514
CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
12/31/91
91365y0049g  Newsgrid News
ZAGREB (DEC. 31) DPA - In the face of a increased shelling by federal Yugoslav
troops, Croatian President Franjo Tudjman declared Tuesday in Zagreb that his
forces would fight to regain lost territory with or without international aid.
His remarks came as federal forces stepped up their artillery barrage on
cities and towns in eastern Croatia in a renew bid for control of the
strategic region bordering Serbia.
-30- 523
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365y0049f  Newsgrid News
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
-30- 393
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0049e  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 379
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0049d  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 520
FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
12/31/91
91365y0049c  Newsgrid News
MOSCOW DEC. 31) DPA - Battles for control of the Georgian capital intensified
Tuesday in advance of a rebel-proclaimed unilateral New Year's ceasefire which
held out the prospect for peace talks.
Rebels in the erstwhile Soviet republic said their forces would hold fire on
New Year's Eve. But they renewed their demand for besieged President Zviad
Gamsakhurdia to surrender.
-30- 403
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0049b  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 432
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
12/31/91
91365y0049a  Newsgrid News
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
-30- 530
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 12:00 P.M.
12/31/91
91365y0049  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 840
points Monday, surged 73.1 points or 3 percent to 2,493. 1 in a half day
12/31/91
91365y0047j  Newsgrid News
-30- 8
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0047g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 395
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0047f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0047e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 451
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0047d  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 418
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0047c  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0047b  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0047a  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 11:00 A.M.
12/31/91
91365y0047  Newsgrid News
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 698
GIANT GROUP KEYSTONE CEMENT GRANTED PERMIT FOR STORAGE OF HAZARDOUS WASTE
12/31/91
91365y0046i  Newsgrid News
BATH, PN (DEC. 31) BUSINESS WIRE - Giant Group Ltd., (NYSE:GPO) announced that
the Pennsylvania Department of Environmental Resources has issued Keystone
Cement Co., a wholly owned subsidiary of Giant Group Ltd., a Resource
Conservation and Recovery Act (RCRA) Part B permit for the storage, management
and beneficial use of hazardous waste at its facilities in Bath.
Concurrently with the issuance of Keystone's Part B permit, the Pennsylvania
DER also issued Keystone Pennsylvania Air Quality Plan Approvals for the
burning of waste fuels in place of coal in its two cement kilns.
-30- 547
UNITED DOMINION REALTY TRUST OFFERS THREE MILLION SHARES OF COMMON STOCK
12/31/91
91365y0046h  Newsgrid News
RICHMOND, VA (DEC. 31) PR NEWSWIRE - United Dominion Realty Trust, Inc. (NYSE:
UDR) today filed a registration statement with the Securities and Exchange
Commission for an offering of 3,000,000 shares of common stock.  The stock is
expected to be offered to the public in January, 1992.  Proceeds of the
offering will be used to repay short- term debt and to acquire additional
properties.
United Dominion Realty Trust is a Richmond, Virginia based self-administered
equity real estate investment trust that owns and operates primarily
apartments in the South Atlantic region from Virginia to Georgia.
-30- 640
PORTA SYSTEMS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE ASTER CORP.
12/31/91
91365y0046g  Newsgrid News
SYOSSET, NY (DEC. 31) BUSINESS WIRE - Porta Systems Corp. (ASE-PSI) announced
Tuesday that it had entered into a definitive agreement for the previously
announced acquisition of Aster Corporation, a Milford, Massachusetts-based
manufacturer of fiber optic couplers, wave division multiplexers (WDMs) and
fiber route protection systems.
"Aster's fiber optic products provide a unique complement to our current
product offering," commented Porta Systems' Chairman and Chief Executive
Officer, Vincent F. Santulli.  "Aster's products will serve to broaden our
capabilities in providing full system solutions to our fiber optic customers
as well as allow Porta Systems increased visibility in the fiber-to-the-home
market." Aster maintains an international manufacturing, sales and marketing
subsidiary in Limerick, Ireland.  Aster's primary customers are long distance
telecommunication  carriers, CATV operators, and fiber-to-the-home systems
integrators.
-30- 1009
AIM TELEPHONES ANNOUNCES UNSUCCESSFUL END TO DEBT RESTRUCTURING EFFORTS
12/31/91
91365y0046f  Newsgrid News
HAUPPAUGE, NY (DEC. 31) BUSINESS WIRE - AIM Telephones, Inc. (AMEX: AIM), one
of the largest telephone interconnect companies in the United States,
announced Tuesday that its efforts to restructure its long-term debt,
amounting to approximately $18 million, had been unsuccessful and that its
banks had accelerated payment of their loans.
The Company is continuing to operate and will be exploring with its banks the
steps that can be taken to maximize the value of the Company.
-30- 502
GE CAPITAL RAILCAR SERVICES PLANS LEASE OF ITEL RAIL FLEET
12/31/91
91365y0046e  Newsgrid News
STAMFORD, CT (DEC. 31) PR NEWSWIRE - GE Capital Railcar Services, a wholly
owned subsidiary of GE Capital, announced today its plan to lease the railcar
fleet of San Francisco-based Itel Rail.  Itel simultaneously announced its
intention to make a public offering, through a newly formed trust, of new debt
to be funded from the proceeds of the lease payments by GE Capital Railcar
Services.
The proposed transaction will bring the GE Capital Railcar owned and managed
fleet to approximately 140,000 railcars.  The combined fleet will be the most
diverse and youngest fleet in the industry.
-30- 631
COMERICA TO LOWER PRIME RATE FROM SEVEN PERCENT TO 6.5 PERCENT
12/31/91
91365y0046d  Newsgrid News
DETROIT (DEC. 31) P RNEWSWIRE - Comerica, Inc. (NYSE: CMA) today announced
that it is lowering its prime lending rate from 7 percent to 6 1/2 percent,
effective Jan. 2, 1992.
CONTACT:  David O. Taylor of Comerica, 313-222-3384.
-30- 236
NEW YORK DAILY NEWS ASSURED OF ADEQUATE CASH FLOW FOR TWO MONTHS
12/31/91
91365y0046c  Newsgrid News
NEW YORK (DEC. 31) UPI - The New York Daily News had $8 million in cash as of
Tuesday and will have an adequate cash flow to continue publishing in January
and February, according to a management statement.
The statement was issued Monday following the first meeting of the tabloid's
executives with representatives of its unsecured creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
-30- 475
U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
12/31/91
91365y0046b  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main economic
forecasting gauge of future economic activity fell 0.3 percent in November,
the index's fourth straight month of virtual stagnation.
The Commerce Department report showed a drop in seven of the 11 leading
economic indicators.
-30- 322
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365y0046a  Newsgrid News
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November despite a drop in mortgage rates and home prices, the government said
Tuesday.
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
-30- 423
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 11:00 A.M.
12/31/91
91365y0046  Newsgrid News
 1.  TUESDAY'S NYSE STOCKS OPEN SLIGHTLY HIGHER IN QUIET TRADING; DOW UP 2.0
    POINTS
NEW YORK (DEC. 31) UPI - Stock prices opened slightly higher Tuesday in quiet
trading on the New York Stock Exchange, continuing the six-session winning
streak that has boosted the market to record highs thrice in the past three
trading days.
The Dow Jones industrial average, which surged 62.39 to another record high of
3163.91 Monday, was ahead 2 points to 3165.91 shortly after the market opened.
-30- 785
PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL
12/31/91
91365y0045i  Newsgrid News
MANILA, PHILIPPINES (DEC. 31) UPI - The Philippines served a one-year
termination notice on Subic Bay Naval Base, the last American military
installation in the country Tuesday, in the wake of failed talks for a gradual
withdrawal of U.S. forces.
Foreign Undersecretary Pablo Suarez delivered the notice on Subic personally
to officials at the U.S. Embassy.
-30- 396
POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
12/31/91
91365y0045h  Newsgrid News
MADRID (DEC. 31) DPA - Police divers have recovered a ton a hashish sunk 100
metres deep in the Atlantic and marked with buoys twelve sea miles off the
Spanish coast, it was announced Tuesday.
Police in the nearby town of Santiago de Compostela said the operation had
lasted a week. They believed the hashish was destined to be landed in the
Asturia or Basque regions and then distributed in northern Europe.
-30- 436
CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
12/31/91
91365y0045g  Newsgrid News
ZAGREB (DEC. 31) DPA - In the face of a increased shelling by federal Yugoslav
troops, Croatian President Franjo Tudjman declared Tuesday in Zagreb that his
forces would fight to regain lost territory with or without international aid.
His remarks came as federal forces stepped up their artillery barrage on
cities and towns in eastern Croatia in a renew bid for control of the
strategic region bordering Serbia.
-30- 506
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365y0045f  Newsgrid News
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
-30- 393
DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
12/31/91
91365y0045e  Newsgrid News
NEW DELHI (DEC. 31) DPA - Displaced Hindu migrants from Kashmir scuffled with
police Tuesday in New Delhi as Indian Prime Minister P.V. Narasimha Rao
indirectly blamed Pakistan for launching a ''proxy war'' against India.
About 50 protesters were taken into custody after they broke through security
cordons and blocked traffic for more an hour in the busy downtown Connaught
Place area by deflating several government-owned passenger buses.
-30- 464
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365y0045d  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
-30- 384
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365y0045c  Newsgrid News
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
-30- 521
FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
12/31/91
91365y0045b  Newsgrid News
MOSCOW DEC. 31) DPA - Battles for control of the Georgian capital intensified
Tuesday in advance of a rebel-proclaimed unilateral New Year's ceasefire which
held out the prospect for peace talks.
Rebels in the erstwhile Soviet republic said their forces would hold fire on
New Year's Eve. But they renewed their demand for besieged President Zviad
Gamsakhurdia to surrender.
-30- 403
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0045a  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 432
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 11:00 A.M.
12/31/91
91365y0045  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 828
NEW ENGLAND SKI GUIDE
12/31/91
91365y0044i  Newsgrid News
WOODSTOCK, VT (DEC. 31) UPI - New England Ski Areas Council official summary
of snow conditions at ski areas as of 7 a.m. Dec. 31, 1991.
Skiing conditions are subject to change due to weather, skier traffic, and
other factors. Be aware of changing conditions.
-30- 211
points Monday, surged 73.1 points or 3 percent to 2,493. 1 in a half day
12/31/91
91365y0043j  Newsgrid News
-30- 8
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0043g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 395
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0043f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0043e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 451
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0043d  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 418
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0043c  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0043b  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0043a  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 10:00 A.M.
12/31/91
91365y0043  Newsgrid News
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 698
NEWMARK & LEWIS TO CLOSE ADDITIONAL STORES
12/31/91
91365y0042h  Newsgrid News
HICKSVILLE, NY (DEC. 31) PR NEWSWIRE - Newmark & Lewis Inc. (AMEX: NLI), a
specialty retailer of major appliances and consumer electronic products,
announced today that it plans to further down-size its operations into a
14-store chain.  The company is taking this action in response to a continuing
weak economic performance in the retailing industry as a whole and, more
particularly, in its own local market area.  The company believes that this
action is necessary in order to continue operations during the normally weak
post-holiday period that appliance and consumer electronics retailers
experience during the months of January through March of each year.  The
company noted that the down-sizing would constitute a default under the
company's various financing agreements; however, to date, the company's
lenders have not taken any steps with respect thereto.
The company closed 12 of its stores in July, 29 stores in August and September
 and an additional 12 stores will be closed as part of the restructuring plan.
 On Aug. 30, 1991, the company filed voluntary petitions for relief under
Chapter 11 of the Federal Bankruptcy Code and has been operating as a
"debtor-in-possession."
-30- 1216
ITEL FORMS TRUST TO MAKE PUBLIC OFFERING OF NEW DEBT
12/31/91
91365y0042g  Newsgrid News
CHICAGO (DEC. 31) PR NEWSWIRE - Itel Corp. (NYSE: ITL) today announced it has
formed a trust to make a public offering of new debt to be funded from the
future cash flow of the rail car fleet of Itel's subsidiary, Itel Rail Corp.
The amount of debt to be offered depends upon interest rates, and the extent
to which certain existing creditors of the rail car fleet elect to continue
their loans or to be paid with the proceeds of the new debt.  The offering
could be in excess of $1.1 billion.
The interest and principal of the new debt, as well as any existing debt on
the fleet which is not pre-paid, will be paid from proceeds of rent of
approximately $150 million a year from the lease of Itel Rail's existing rail
car fleet to General Electric Railcar Leasing Services Corp., a wholly owned
subsidiary of General Electric Capital Corp.  The lease will be for 12 years,
and at its expiration GE Railcar will have the option to purchase the fleet
for approximately $500 million.  The lease will also provide for the sharing
of certain results generated by the fleet above current levels.
-30- 1118
AIM TELEPHONES ANNOUNCES UNSUCCESSFUL END TO DEBT RESTRUCTURING EFFORTS
12/31/91
91365y0042f  Newsgrid News
HAUPPAUGE, NY (DEC. 31) BUSINESS WIRE - AIM Telephones, Inc. (AMEX: AIM), one
of the largest telephone interconnect companies in the United States,
announced Tuesday that its efforts to restructure its long-term debt,
amounting to approximately $18 million, had been unsuccessful and that its
banks had accelerated payment of their loans.
The Company is continuing to operate and will be exploring with its banks the
steps that can be taken to maximize the value of the Company.
-30- 491
GE CAPITAL RAILCAR SERVICES PLANS LEASE OF ITEL RAIL FLEET
12/31/91
91365y0042e  Newsgrid News
STAMFORD, CT (DEC. 31) PR NEWSWIRE - GE Capital Railcar Services, a wholly
owned subsidiary of GE Capital, announced today its plan to lease the railcar
fleet of San Francisco-based Itel Rail.  Itel simultaneously announced its
intention to make a public offering, through a newly formed trust, of new debt
to be funded from the proceeds of the lease payments by GE Capital Railcar
Services.
The proposed transaction will bring the GE Capital Railcar owned and managed
fleet to approximately 140,000 railcars.  The combined fleet will be the most
diverse and youngest fleet in the industry.
-30- 631
TEVA PHARMACEUTICAL RECEIVES FDA APPROVAL FOR GENERIC VERSION OF LIDEX
12/31/91
91365y0042d  Newsgrid News
JERUSALEM, ISRAEL (DEC. 31) BUSINESS WIRE - Teva Pharmaceutical Industries
Limited (NASDAQ:TEVIY) announced Tuesday that its U.S. subsidiary, Lemmon
Company, Sellersville, PA, has received approval from the U.S. Food and Drug
Administration to manufacture and market Fluocinonide Ointment, a generic
version of a topical anti-inflammatory drug currently manufactured and
marketed in the U.S. by Syntex, under the brand name Lidex.
Lemmon is the first U.S. generic drug manufacturer to receive approval for an
ANDA for this product.  With the FDA's approval of this pharmaceutical in
ointment dosage form, Lemmon now becomes the first generic drug manufacturer
to offer fluocinonide in all five dosage forms--cream, cream E, gel, topical
solution and ointment.
-30- 793
MARSAM PHARMACEUTICALS ANNOUNCES FDA APPROVAL OF METHOCARBOMAL INJECTION
12/31/91
91365y0042c  Newsgrid News
CHERRY HILL, NJ (DEC. 31) BUSINESS WIRE - Marvin Samson, president and chief
executive officer of Marsam Pharmaceuticals Inc. (NASDAQ:MSAM) announced that
the company received Food and Drug Administration approval to market
Methocarbamol Injection USP.
Methocarbamol Injection is currently sold under the brand name Robaxin
Injectable (A.H. Robins Co. Inc.)  The company's generic version will be
marketed under the ''Geneva Marsam'' label.
-30- 552
COMERICA TO LOWER PRIME RATE FROM SEVEN PERCENT TO 6.5 PERCENT
12/31/91
91365y0042b  Newsgrid News
DETROIT (DEC. 31) P RNEWSWIRE - Comerica, Inc. (NYSE: CMA) today announced
that it is lowering its prime lending rate from 7 percent to 6 1/2 percent,
effective Jan. 2, 1992.
CONTACT:  David O. Taylor of Comerica, 313-222-3384.
-30- 250
PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
12/31/91
91365y0042a  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 437
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 10:00 A.M.
12/31/91
91365y0042  Newsgrid News
 1.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main economic
forecasting gauge of future economic activity fell 0.3 percent in November,
the index's fourth straight month of virtual stagnation.
The Commerce Department report showed a drop in seven of the 11 leading
economic indicators.
-30- 684
PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL
12/31/91
91365y0041i  Newsgrid News
MANILA, PHILIPPINES (DEC. 31) UPI - The Philippines served a one-year
termination notice on Subic Bay Naval Base, the last American military
installation in the country Tuesday, in the wake of failed talks for a gradual
withdrawal of U.S. forces.
Foreign Undersecretary Pablo Suarez delivered the notice on Subic personally
to officials at the U.S. Embassy.
-30- 396
POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
12/31/91
91365y0041h  Newsgrid News
MADRID (DEC. 31) DPA - Police divers have recovered a ton a hashish sunk 100
metres deep in the Atlantic and marked with buoys twelve sea miles off the
Spanish coast, it was announced Tuesday.
Police in the nearby town of Santiago de Compostela said the operation had
lasted a week. They believed the hashish was destined to be landed in the
Asturia or Basque regions and then distributed in northern Europe.
-30- 436
CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
12/31/91
91365y0041g  Newsgrid News
ZAGREB (DEC. 31) DPA - In the face of a increased shelling by federal Yugoslav
troops, Croatian President Franjo Tudjman declared Tuesday in Zagreb that his
forces would fight to regain lost territory with or without international aid.
His remarks came as federal forces stepped up their artillery barrage on
cities and towns in eastern Croatia in a renew bid for control of the
strategic region bordering Serbia.
-30- 506
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365y0041f  Newsgrid News
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
-30- 394
DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
12/31/91
91365y0041e  Newsgrid News
NEW DELHI (DEC. 31) DPA - Displaced Hindu migrants from Kashmir scuffled with
police Tuesday in New Delhi as Indian Prime Minister P.V. Narasimha Rao
indirectly blamed Pakistan for launching a ''proxy war'' against India.
About 50 protesters were taken into custody after they broke through security
cordons and blocked traffic for more an hour in the busy downtown Connaught
Place area by deflating several government-owned passenger buses.
-30- 464
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA 16 HOURS AHEAD OF
12/31/91
91365y0041d  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, the most traveled president
in U.S history, rang in the new year in Australia where he joined Prime
Minister Paul Keating in viewing a waterfront fireworks display.
Bush arrived Tuesday, New Year's Eve in Sydney, the first stop on a
four-nation trade mission to the Pacific Rim. The president and his wife
Barbara stepped off Air Force One, following their 21-hour flight from
Washington, and immediately rode by motorcade to Sydney Harbor and then
traveled by boat to the residence of Governor-General Bill Hayden, where they
viewed a spectacular pyrotechnic display.
-30- 742
BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
12/31/91
91365y0041c  Newsgrid News
LONDON (DEC. 31) DPA - British Prime Minister John Major has urged President
Boris Yeltsin to apply for Russia's full membership of the International
Monetary Fund and World Bank, officials confirmed Tuesday.
In a letter to Yeltsin, Major said the way would then be open for Russia to
get financial support for its programme of economic reforms.
-30- 444
FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
12/31/91
91365y0041b  Newsgrid News
KUWAIT CITY (DEC. 31) DPA - Kuwaiti Defence Minister Sheikh Ali Sabah al-Salem
al-Sabah was quoted Tuesday as saying that the formation of a joint
100,000-strong Gulf army would not be an easy matter.
''The formation of a unified Gulf army comprising 100,000 soldiers needs a
specific and serious study. It is not an easy matter,'' Sheikh Ali told the
Kuwaiti daily Sawt al Kuwait.
-30- 408
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365y0041a  Newsgrid News
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said in
an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
-30- 431
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 10:00 A.M.
12/31/91
91365y0041  Newsgrid News
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
-30- 828
NEW ENGLAND SKI GUIDE
12/31/91
91365y0040i  Newsgrid News
WOODSTOCK, VT (DEC. 31) UPI - New England Ski Areas Council official summary
of snow conditions at ski areas as of 7 a.m. Dec. 31, 1991.
Skiing conditions are subject to change due to weather, skier traffic, and
other factors. Be aware of changing conditions.
-30- 212
points Monday, surged 73.1 points or 3 percent to 2,493. 1 in a half day
12/31/91
91365y0039j  Newsgrid News
-30- 8
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0039g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 395
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0039f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0039e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 451
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0039d  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 418
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0039c  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0039b  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0039a  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 9:00 A.M.
12/31/91
91365y0039  Newsgrid News
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 697
OPEN SOFTWARE FOUNDATION ANNOUNCES NEW MEMBER COMPANIES
12/31/91
91365y0038i  Newsgrid News
CAMBRIDGE, MA (DEC. 31) PR NEWSWIRE - The Open Software Foundation (OSF) is
attracting ever-larger numbers of computer end-users for membership while
expanding its representation among systems vendors and universities, according
to OSF president David Tory.  In today's new member announcement, he said, "We
are very pleased that the end-user community constitutes the fastest-growing
segment of our membership. Since the inception of OSF, it has been our wish to
serve the end users and be responsive to their needs."
New OSF members include 23 end-user organizations, 38 universities, 11
independent software vendors and 10 systems vendors.  For the year 1991, OSF
added 62 new members, increasing its membership by 24 percent and bringing the
percentage of OSF membership represented by end user organizations to 27
percent.
-30- 803
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0038h  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 775
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0038g  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0038f  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1421
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0038e  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0038d  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
MARSAM PHARMACEUTICALS ANNOUNCES FDA APPROVAL OF METHOCARBOMAL INJECTION
12/31/91
91365y0038c  Newsgrid News
CHERRY HILL, NJ (DEC. 31) BUSINESS WIRE - Marvin Samson, president and chief
executive officer of Marsam Pharmaceuticals Inc. (NASDAQ:MSAM) announced that
the company received Food and Drug Administration approval to market
Methocarbamol Injection USP.
Methocarbamol Injection is currently sold under the brand name Robaxin
Injectable (A.H. Robins Co. Inc.)  The company's generic version will be
marketed under the ''Geneva Marsam'' label.
-30- 551
PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
12/31/91
91365y0038b  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 447
U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
12/31/91
91365y0038a  Newsgrid News
WASHINGTON (DEC. 31) UPI - The government said Tuesday its main economic
forecasting gauge of future economic activity fell 0.3 percent in November,
the index's fourth straight month of virtual stagnation.
The Commerce Department report showed a drop in seven of the 11 leading
economic indicators.
-30- 326
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 9:00 A.M.
12/31/91
91365y0038  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 810
PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL
12/31/91
91365y0037i  Newsgrid News
MANILA, PHILIPPINES (DEC. 31) UPI - The Philippines served a one-year
termination notice on Subic Bay Naval Base, the last American military
installation in the country Tuesday, in the wake of failed talks for a gradual
withdrawal of U.S. forces.
Foreign Undersecretary Pablo Suarez delivered the notice on Subic personally
to officials at the U.S. Embassy.
-30- 396
POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
12/31/91
91365y0037h  Newsgrid News
MADRID (DEC. 31) DPA - Police divers have recovered a ton a hashish sunk 100
metres deep in the Atlantic and marked with buoys twelve sea miles off the
Spanish coast, it was announced Tuesday.
Police in the nearby town of Santiago de Compostela said the operation had
lasted a week. They believed the hashish was destined to be landed in the
Asturia or Basque regions and then distributed in northern Europe.
-30- 436
NEPAL CABINET MINISTRY RESHUFFLE SHARPENS PARTY DIFFERENCES
12/31/91
91365y0037g  Newsgrid News
KATHMANDU (DEC. 31) DPA - A major reshuffle of the Nepalese cabinet has
sharpened differences between Prime Minister Girija Prasad Koilara and other
leaders of the ruling Nepali Congress, newspaper reports said Tuesday.
In Monday's reshuffle, Koirala dropped six senior ministers known to be close
to party head Ganesh Man Singh and party acting president Krishna Prasad
Bhattarai.
-30- 399
CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
12/31/91
91365y0037f  Newsgrid News
ZAGREB (DEC. 31) DPA - In the face of a increased shelling by federal Yugoslav
troops, Croatian President Franjo Tudjman declared Tuesday in Zagreb that his
forces would fight to regain lost territory with or without international aid.
His remarks came as federal forces stepped up their artillery barrage on
cities and towns in eastern Croatia in a renew bid for control of the
strategic region bordering Serbia.
-30- 511
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365y0037e  Newsgrid News
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
-30- 393
DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
12/31/91
91365y0037d  Newsgrid News
NEW DELHI (DEC. 31) DPA - Displaced Hindu migrants from Kashmir scuffled with
police Tuesday in New Delhi as Indian Prime Minister P.V. Narasimha Rao
indirectly blamed Pakistan for launching a ''proxy war'' against India.
About 50 protesters were taken into custody after they broke through security
cordons and blocked traffic for more an hour in the busy downtown Connaught
Place area by deflating several government-owned passenger buses.
-30- 464
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA 16 HOURS AHEAD OF
12/31/91
91365y0037c  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, the most traveled president
in U.S history, rang in the new year in Australia where he joined Prime
Minister Paul Keating in viewing a waterfront fireworks display.
Bush arrived Tuesday, New Year's Eve in Sydney, the first stop on a
four-nation trade mission to the Pacific Rim. The president and his wife
Barbara stepped off Air Force One, following their 21-hour flight from
Washington, and immediately rode by motorcade to Sydney Harbor and then
traveled by boat to the residence of Governor-General Bill Hayden, where they
viewed a spectacular pyrotechnic display.
-30- 742
REBELS IN REPUBLIC OF GEORGIA DECLARE NEW YEARS CEASEFIRE
12/31/91
91365y0037b  Newsgrid News
MOSCOW (DEC. 31) DPA - Rebels in the erstwhile Soviet republic of Georgia
pledged Tuesday to observe a unilateral ceasefire for the New Year
celebrations, and once again called on besieged President Zviad Gamsakhurdia
to surrender.
In an interview with the Moscow daily Komsomolskaya Pravda, a leading member
of the opposition forces, Djaba Iaseliani, said ''naturally we want to
celebrate the new year at home. Tbilisi will have a quiet night, that I can
promise''.
-30- 498
BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
12/31/91
91365y0037a  Newsgrid News
LONDON (DEC. 31) DPA - British Prime Minister John Major has urged President
Boris Yeltsin to apply for Russia's full membership of the International
Monetary Fund and World Bank, officials confirmed Tuesday.
In a letter to Yeltsin, Major said the way would then be open for Russia to
get financial support for its programme of economic reforms.
-30- 438
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 9:00 A.M.
12/31/91
91365y0037  Newsgrid News
 1.  FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
KUWAIT CITY (DEC. 31) DPA - Kuwaiti Defence Minister Sheikh Ali Sabah al-Salem
al-Sabah was quoted Tuesday as saying that the formation of a joint
100,000-strong Gulf army would not be an easy matter.
''The formation of a unified Gulf army comprising 100,000 soldiers needs a
specific and serious study. It is not an easy matter,'' Sheikh Ali told the
Kuwaiti daily Sawt al Kuwait.
-30- 770
NEW ENGLAND SKI GUIDE
12/31/91
91365y0036i  Newsgrid News
WOODSTOCK, VT (DEC. 31) UPI - New England Ski Areas Council official summary
of snow conditions at ski areas as of 7 a.m. Dec. 31, 1991.
Skiing conditions are subject to change due to weather, skier traffic, and
other factors. Be aware of changing conditions.
-30- 211
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0035h  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 357
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0035g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0035f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0035e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 451
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0035d  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 418
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0035c  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0035b  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
12/31/91
91365y0035a  Newsgrid News
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
-30- 505
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 8:00 A.M.
12/31/91
91365y0035  Newsgrid News
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 703
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0034i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0034h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0034g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0034f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0034e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0034d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0034c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0034b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1093
PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
12/31/91
91365y0034a  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 427
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 8:00 A.M.
12/31/91
91365y0034  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 818
NYC OFFICIALS SAY 911 CONFUSION DELAYED AMBULANCE TO HARLEM COLLEGE
12/31/91
91365y0033i  Newsgrid News
NEW YORK (DEC. 31) UPI - Confusion between city police and emergency services
led to a delay in dispatching ambulances to the Manhattan college where eight
people died in a deadly crush of rap and basketball fans, city officials said
Monday.
At least 28 people were injured Saturday night when scores of people waiting
to get into a celebrity benefit on the Harlem campus of the City College of
the City University of New York became trapped in a narrow stairwell.
-30- 505
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0033h  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 415
VIETNAM'S NATIONAL ASSEMBLY APPROVES NEW DRAFT CONSTITUTION
12/31/91
91365y0033g  Newsgrid News
BANGKOK, THAILAND (DEC. 31) UPI - Vietnam's National Assembly has approved a
new draft constitution meant to strengthen the market economy while protecting
the communist-ruled country from the mistakes of the Soviet Union, Vietnamese
media reported.
The official Vietnam News Agency said the draft constitution, which is to be
subject to public scrutiny before final passage into law in March, was
approved during last week's meeting of the National Assembly.
-30- 481
MANILA SERVES ONE-YEAR CLOSURE NOTICE FOR LAST U.S. NAVAL BASE
12/31/91
91365y0033f  Newsgrid News
MANILA (DEC. 31) KYODO - THE PHILIPPINES ON TUESDAY FORMALLY SERVED THE UNITED
STATES A ONE-YEAR NOTICE OF TERMINATION FOR ITS LEASE ON SUBIC BAY NAVAL
STATION, ITS LAST AND LARGEST MILITARY BASE IN THE COUNTRY, THE PRESIDENTIAL
PALACE STAFF SAID.
THE CLOSURE NOTICE MEANS THE END OF 90 YEARS OF U.S. MILITARY PRESENCE IN THE
PHILIPPINES, UNLESS THE NEXT ADMINISTRATION, TO BE ELECTED IN MAY 1992,
CHOOSES TO ENTER INTO A NEW TREATY WITH WASHINGTON.
-30- 468
CHINESE PRESIDENT SHANGKUN WARNS OF NEED FOR DOMESTIC STABILITY
12/31/91
91365y0033e  Newsgrid News
BEIJING (DEC. 31) UPI - President Yang Shangkun, in a jab at unrest in the
former Soviet Union, Tuesday called for expanding China's economic reforms and
open-door policy but warned the effort would fail if the country slips into
social turmoil.
In a New Year's address carried over state radio, Yang gave an exultant
assessment of China's progress in 1991, claiming all Chinese were living ''in
peace and contentment, and there is a scene of prosperity everywhere.''
-30- 493
NORTH, SOUTH KOREA SIGN SIX-ARTICLE DECLARATION DENUCLEARIZING PENINSULA
12/31/91
91365y0033d  Newsgrid News
SEOUL, SOUTH KOREA (DEC. 31) UPI - South and North Korea initialed a six-
article joint declaration for denuclearization of the Korean peninsula Tuesday
in what could be another significant step toward peaceful unification of their
land divided 46 year ago.
An official joint announcement following a daylong meeting at the Panmunjom
truce village between working-level officials of the two sides said the
initialed accord documents will be exchanged by Jan. 21.
-30- 490
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA 16 HOURS AHEAD OF
12/31/91
91365y0033c  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, the most traveled president
in U.S history, rang in the new year in Australia where he joined Prime
Minister Paul Keating in viewing a waterfront fireworks display.
Bush arrived Tuesday, New Year's Eve in Sydney, the first stop on a
four-nation trade mission to the Pacific Rim. The president and his wife
Barbara stepped off Air Force One, following their 21-hour flight from
Washington, and immediately rode by motorcade to Sydney Harbor and then
traveled by boat to the residence of Governor-General Bill Hayden, where they
viewed a spectacular pyrotechnic display.
-30- 744
REBELS IN REPUBLIC OF GEORGIA DECLARE NEW YEARS CEASEFIRE
12/31/91
91365y0033b  Newsgrid News
MOSCOW (DEC. 31) DPA - Rebels in the erstwhile Soviet republic of Georgia
pledged Tuesday to observe a unilateral ceasefire for the New Year
celebrations, and once again called on besieged President Zviad Gamsakhurdia
to surrender.
In an interview with the Moscow daily Komsomolskaya Pravda, a leading member
of the opposition forces, Djaba Iaseliani, said ''naturally we want to
celebrate the new year at home. Tbilisi will have a quiet night, that I can
promise''.
-30- 497
BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
12/31/91
91365y0033a  Newsgrid News
LONDON (DEC. 31) DPA - British Prime Minister John Major has urged President
Boris Yeltsin to apply for Russia's full membership of the International
Monetary Fund and World Bank, officials confirmed Tuesday.
In a letter to Yeltsin, Major said the way would then be open for Russia to
get financial support for its programme of economic reforms.
-30- 438
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 8:00 A.M.
12/31/91
91365y0033  Newsgrid News
 1.  FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
KUWAIT CITY (DEC. 31) DPA - Kuwaiti Defence Minister Sheikh Ali Sabah al-Salem
al-Sabah was quoted Tuesday as saying that the formation of a joint
100,000-strong Gulf army would not be an easy matter.
''The formation of a unified Gulf army comprising 100,000 soldiers needs a
specific and serious study. It is not an easy matter,'' Sheikh Ali told the
Kuwaiti daily Sawt al Kuwait.
-30- 776
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0031h  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 357
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0031g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0031f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0031e  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0031d  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0031c  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 418
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0031b  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 490
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0031a  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 7:00 A.M.
12/31/91
91365y0031  Newsgrid News
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 703
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0030i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0030h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0030g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 783
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0030f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0030e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0030d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0030c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0030b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1094
PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
12/31/91
91365y0030a  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 427
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 7:00 A.M.
12/31/91
91365y0030  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 813
NYC OFFICIALS SAY 911 CONFUSION DELAYED AMBULANCE TO HARLEM COLLEGE
12/31/91
91365y0029i  Newsgrid News
NEW YORK (DEC. 31) UPI - Confusion between city police and emergency services
led to a delay in dispatching ambulances to the Manhattan college where eight
people died in a deadly crush of rap and basketball fans, city officials said
Monday.
At least 28 people were injured Saturday night when scores of people waiting
to get into a celebrity benefit on the Harlem campus of the City College of
the City University of New York became trapped in a narrow stairwell.
-30- 505
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0029h  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 554
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0029g  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 421
VIETNAM'S NATIONAL ASSEMBLY APPROVES NEW DRAFT CONSTITUTION
12/31/91
91365y0029f  Newsgrid News
BANGKOK, THAILAND (DEC. 31) UPI - Vietnam's National Assembly has approved a
new draft constitution meant to strengthen the market economy while protecting
the communist-ruled country from the mistakes of the Soviet Union, Vietnamese
media reported.
The official Vietnam News Agency said the draft constitution, which is to be
subject to public scrutiny before final passage into law in March, was
approved during last week's meeting of the National Assembly.
-30- 481
MANILA SERVES ONE-YEAR CLOSURE NOTICE FOR LAST U.S. NAVAL BASE
12/31/91
91365y0029e  Newsgrid News
MANILA (DEC. 31) KYODO - THE PHILIPPINES ON TUESDAY FORMALLY SERVED THE UNITED
STATES A ONE-YEAR NOTICE OF TERMINATION FOR ITS LEASE ON SUBIC BAY NAVAL
STATION, ITS LAST AND LARGEST MILITARY BASE IN THE COUNTRY, THE PRESIDENTIAL
PALACE STAFF SAID.
THE CLOSURE NOTICE MEANS THE END OF 90 YEARS OF U.S. MILITARY PRESENCE IN THE
PHILIPPINES, UNLESS THE NEXT ADMINISTRATION, TO BE ELECTED IN MAY 1992,
CHOOSES TO ENTER INTO A NEW TREATY WITH WASHINGTON.
-30- 468
CHINESE PRESIDENT SHANGKUN WARNS OF NEED FOR DOMESTIC STABILITY
12/31/91
91365y0029d  Newsgrid News
BEIJING (DEC. 31) UPI - President Yang Shangkun, in a jab at unrest in the
former Soviet Union, Tuesday called for expanding China's economic reforms and
open-door policy but warned the effort would fail if the country slips into
social turmoil.
In a New Year's address carried over state radio, Yang gave an exultant
assessment of China's progress in 1991, claiming all Chinese were living ''in
peace and contentment, and there is a scene of prosperity everywhere.''
-30- 493
NORTH, SOUTH KOREA SIGN SIX-ARTICLE DECLARATION DENUCLEARIZING PENINSULA
12/31/91
91365y0029c  Newsgrid News
SEOUL, SOUTH KOREA (DEC. 31) UPI - South and North Korea initialed a six-
article joint declaration for denuclearization of the Korean peninsula Tuesday
in what could be another significant step toward peaceful unification of their
land divided 46 year ago.
An official joint announcement following a daylong meeting at the Panmunjom
truce village between working-level officials of the two sides said the
initialed accord documents will be exchanged by Jan. 21.
-30- 490
PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
12/31/91
91365y0029b  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 447
REBELS IN REPUBLIC OF GEORGIA DECLARE NEW YEARS CEASEFIRE
12/31/91
91365y0029a  Newsgrid News
MOSCOW (DEC. 31) DPA - Rebels in the erstwhile Soviet republic of Georgia
pledged Tuesday to observe a unilateral ceasefire for the New Year
celebrations, and once again called on besieged President Zviad Gamsakhurdia
to surrender.
In an interview with the Moscow daily Komsomolskaya Pravda, a leading member
of the opposition forces, Djaba Iaseliani, said ''naturally we want to
celebrate the new year at home. Tbilisi will have a quiet night, that I can
promise''.
-30- 502
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 7:00 A.M.
12/31/91
91365y0029  Newsgrid News
 1.  BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
    IMF
LONDON (DEC. 31) DPA - British Prime Minister John Major has urged President
Boris Yeltsin to apply for Russia's full membership of the International
Monetary Fund and World Bank, officials confirmed Tuesday.
In a letter to Yeltsin, Major said the way would then be open for Russia to
get financial support for its programme of economic reforms.
-30- 731
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0027h  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0027g  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0027f  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0027e  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0027d  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0027c  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 418
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365y0027b  Newsgrid News
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
-30- 489
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
12/31/91
91365y0027a  Newsgrid News
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
-30- 465
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 6:00 A.M.
12/31/91
91365y0027  Newsgrid News
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO MAJOR
COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
-30- 704
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0026i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0026h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0026g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0026f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0026e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0026d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0026c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0026b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1093
PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
12/31/91
91365y0026a  Newsgrid News
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 427
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 6:00 A.M.
12/31/91
91365y0026  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 814
NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
12/31/91
91365y0025i  Newsgrid News
KIGALI (DEC. 30) DPA - Rwandan Prime Minister Sylvestre Nsanzimana was sworn
in Monday and named a transitional government consisting of ministers from the
National Revolutionary Movement for Development (MRND) and the Christian
Democratic Party (PDC).
Rwandan Radio said that, at a ceremony at the national parliament attended by
President Juvenal Habyarimana, Nsanzimana delivered a major speech dealing
with the ministries' tasks.
-30- 473
UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
12/31/91
91365y0025h  Newsgrid News
(DEC. 30) UPI - The swollen Brazos River continued to rise in Texas Monday
about 20 miles southwest of Houston, threatening more than 150 homes in the
Richmond area, as the falling Colorado River left behind snakes and worms in
mud-filled homes near Wharton.
The Fort Bend County Emergency Office at Richmond said the river, filled with
nearly two weeks of rain from central and north Texas, stood at 49.10 feet at
mid-morning Monday, more than a foot above flood stage.
-30- 506
RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
12/31/91
91365y0025g  Newsgrid News
NEW YORK (DEC. 30) UPI - A rap star at a weekend celebrity benefit where eight
people were crushed to death said Monday police did nothing to stop the deadly
press of the young crowd.
One of the eight victims was pregnant and at least another 28 people were
injured at the benefit Saturday night at the Harlem gymnasium of City College
of the City University of New York.
-30- 464
MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
12/31/91
91365y0025f  Newsgrid News
LA JOLLA, CA (DEC. 30) UPI -  Mother Teresa, the Nobel Peace Prize winning
head of the Missionaries of Charity, was ''seriously ill'' Monday, suffering
from bacterial pneumonia and heart problems, hospital officials said.
The 81-year-old Calcutta nun was in an intensive care unit at Scripps Clinic
and was ''seriously ill but making progress,'' hospital spokeswoman Sue
Pondrom said.
-30- 413
UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
12/31/91
91365y0025e  Newsgrid News
RIYADH (DEC. 30) DPA - Saudi Arabia will announce rules and regulations of a
new Shoura (Consultative) Council in February, Saudi King Fahd said Monday.
King Fahd was speaking at the weekly cabinet meeting held in Riyadh. He
briefed cabinet ministers on studies to finalise the basic systems of
government, the proposed Shoura Council and the provincial structure.
-30- 471
UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
12/31/91
91365y0025d  Newsgrid News
MIAMI (DEC. 30) UPI - The Coast Guard picked up 392 Haitians bound for Florida
during the weekend and returned 85 others voluntarily to Port- au-Prince
Monday while a federal appeals court said it would not decide the refugees'
fate until late January.
The Haitians were found in four boats, all intecepted by Coast Guard cutters
in the Windward Passage between Cuba and Haiti. Officials said 239 of them
were jammed onto one grossly overcrowded 35-foot sailboat.
-30- 495
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0025c  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 553
CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
12/31/91
91365y0025b  Newsgrid News
BEIJING (DECEMBER 31) XINHUA - CHINA AND PAKISTAN SIGNED A CONTRACT FOR
NUCLEAR POWER CO-OPERATION HERE TODAY, ACCORDING TO WHICH CHINA WILL EXPORT A
300,000-KILOWATT NUCLEAR POWER PLANT TO PAKISTAN.
JIANG XINXIONG, GENERAL MANAGER OF THE CHINA NATIONAL NUCLEAR CORPORATION
(CNNC), AND ISHFAQ AHMED, CHAIRMAN OF THE PAKISTAN ATOMIC ENERGY COMMISSION,
SIGNED THE CONTRACT HERE AT NOON.
-30- 421
MANILA SERVES ONE-YEAR CLOSURE NOTICE FOR LAST U.S. NAVAL BASE
12/31/91
91365y0025a  Newsgrid News
MANILA (DEC. 31) KYODO - THE PHILIPPINES ON TUESDAY FORMALLY SERVED THE UNITED
STATES A ONE-YEAR NOTICE OF TERMINATION FOR ITS LEASE ON SUBIC BAY NAVAL
STATION, ITS LAST AND LARGEST MILITARY BASE IN THE COUNTRY, THE PRESIDENTIAL
PALACE STAFF SAID.
THE CLOSURE NOTICE MEANS THE END OF 90 YEARS OF U.S. MILITARY PRESENCE IN THE
PHILIPPINES, UNLESS THE NEXT ADMINISTRATION, TO BE ELECTED IN MAY 1992,
CHOOSES TO ENTER INTO A NEW TREATY WITH WASHINGTON.
-30- 469
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 6:00 A.M.
12/31/91
91365y0025  Newsgrid News
 1.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush arrived in Australia Tuesday
night, his first stop on a crucial mission to improve Pacific Rim trade
relations and ease overseas barriers to U.S. products.
Bush, on an 11-day, four-nation trip, arrived on New Year's Eve in Sydney,
where his schedule included an evening fireworks display.
-30- 732
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0023i  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0023h  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0023g  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0023f  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0023e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 451
ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
12/31/91
91365y0023d  Newsgrid News
MILAN (DEC. 30) DPA - Italy's foreign trade deficit for the first 11 months of
1991 surged to 17.9 trillion lire (15.6 billion dollars), compared to a 16.2
trillion deficit in the same period last year. Exports were up by 2.9 per cent
 while imports rose by 3.6 per cent in the period.
-30- 309
million cars, the second decline in a row following last year's five per
12/31/91
91365y0023c  Newsgrid News
Fiat, which now accounts for more than 99 per cent of all cars produced in
Italy, said it does not expect the domestic market to start showing signs of
revival until the second half of 1992.
-30- 287
ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
12/31/91
91365y0023b  Newsgrid News
MILAN (DEC. 30) DPA - Italian car production in 1991 fell by 15 per cent to
-30- 80
CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
12/31/91
91365y0023a  Newsgrid News
BEIJING (DEC. 30) XINHUA - CHINA SET A NEW RECORD DURING 1991 BY PRODUCING
139.6 MILLION TONS OF CRUDE OIL AND 14.9 BILLION CUBIC METERS OF NATURAL GAS.
DURING THE YEAR, CHINA DRAFTED A STRATEGY TO EXPLORE FOR NEW OIL FIELDS IN THE
WEST, WHILE STABILIZING OIL PRODUCTION IN THE COUNTRY'S OLDER EASTERN OIL
FIELDS.
-30- 341
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 5:00 A.M.
12/31/91
91365y0023  Newsgrid News
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
TOKYO (DEC. 30) UPI - The Bank of Japan Monday slashed its official discount
rate to 4.5 percent from 5 percent to inject a stimulant into the sluggish
economy prior to the arrival of President George Bush and ease escalating
trade friction with the United States.
The central bank made the decision, effective immediately, at an extraordinary
meeting of the Policy Board.
-30- 775
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0022i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0022h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 947
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0022g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0022f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0022e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0022d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0022c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 462
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0022b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1093
UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
12/31/91
91365y0022a  Newsgrid News
NEW YORK (DEC. 30) UPI - New York Daily News management sat down Monday for
the first time with the bankrupt tabloid's creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
Joining the News' chief operating officer, Larry Bloom, and other executives
were the paper's committee of unsecured creditors, including officers of its
13 unions. Other creditors represented included three large paper
manufacturing companies.
-30- 503
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 5:00 A.M.
12/31/91
91365y0022  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 818
NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
12/31/91
91365y0021i  Newsgrid News
KIGALI (DEC. 30) DPA - Rwandan Prime Minister Sylvestre Nsanzimana was sworn
in Monday and named a transitional government consisting of ministers from the
National Revolutionary Movement for Development (MRND) and the Christian
Democratic Party (PDC).
Rwandan Radio said that, at a ceremony at the national parliament attended by
President Juvenal Habyarimana, Nsanzimana delivered a major speech dealing
with the ministries' tasks.
-30- 473
UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
12/31/91
91365y0021h  Newsgrid News
(DEC. 30) UPI - The swollen Brazos River continued to rise in Texas Monday
about 20 miles southwest of Houston, threatening more than 150 homes in the
Richmond area, as the falling Colorado River left behind snakes and worms in
mud-filled homes near Wharton.
The Fort Bend County Emergency Office at Richmond said the river, filled with
nearly two weeks of rain from central and north Texas, stood at 49.10 feet at
mid-morning Monday, more than a foot above flood stage.
-30- 506
RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
12/31/91
91365y0021g  Newsgrid News
NEW YORK (DEC. 30) UPI - A rap star at a weekend celebrity benefit where eight
people were crushed to death said Monday police did nothing to stop the deadly
press of the young crowd.
One of the eight victims was pregnant and at least another 28 people were
injured at the benefit Saturday night at the Harlem gymnasium of City College
of the City University of New York.
-30- 465
MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
12/31/91
91365y0021f  Newsgrid News
LA JOLLA, CA (DEC. 30) UPI -  Mother Teresa, the Nobel Peace Prize winning
head of the Missionaries of Charity, was ''seriously ill'' Monday, suffering
from bacterial pneumonia and heart problems, hospital officials said.
The 81-year-old Calcutta nun was in an intensive care unit at Scripps Clinic
and was ''seriously ill but making progress,'' hospital spokeswoman Sue
Pondrom said.
-30- 413
UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
12/31/91
91365y0021e  Newsgrid News
RIYADH (DEC. 30) DPA - Saudi Arabia will announce rules and regulations of a
new Shoura (Consultative) Council in February, Saudi King Fahd said Monday.
King Fahd was speaking at the weekly cabinet meeting held in Riyadh. He
briefed cabinet ministers on studies to finalise the basic systems of
government, the proposed Shoura Council and the provincial structure.
-30- 471
UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
12/31/91
91365y0021d  Newsgrid News
MIAMI (DEC. 30) UPI - The Coast Guard picked up 392 Haitians bound for Florida
during the weekend and returned 85 others voluntarily to Port- au-Prince
Monday while a federal appeals court said it would not decide the refugees'
fate until late January.
The Haitians were found in four boats, all intecepted by Coast Guard cutters
in the Windward Passage between Cuba and Haiti. Officials said 239 of them
were jammed onto one grossly overcrowded 35-foot sailboat.
-30- 495
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0021c  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 553
REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
12/31/91
91365y0021b  Newsgrid News
MOSCOW (DEC. 30) UPI -  Heavy fighting engulfed the Georgian capital of
Tbilisi Monday as rebels stepped up their attack on Government House where the
president remained holed up, but women were evacuated from the building.
In a separate dispute in northern Georgia, government troops shelled towns
inhabited by Ossetians, members of a minority who wants to secede from Georgia
and join Russia.
-30- 431
FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
12/31/91
91365y0021a  Newsgrid News
BELGRADE, YUGOSLAVIA (DEC. 30) UPI -  Federal warjets Monday blasted the
Croatian town of Otocac and a Yugoslav camerman working for a London- based
news agency died from shrapnel wounds in Karlovac hours after the heaviest of
10 days of Serbian bombardments of the Croatian stronghold, news reports said.
Two foreign newsmen were reportedly wounded by the mortar shell that killed
Worldwide Television News camerman Zivko Krsticevic, 37, a resident of the
Croatian capital of Zagreb and the 19th journalist to die in the 6-month-old
civil war.
-30- 585
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 5:00 A.M.
12/31/91
91365y0021  Newsgrid News
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
HICKAM AIR FORCE BASE, HI (DEC. 30) UPI -  President Bush embarked on a
politically important 11-day trade mission to Asia Monday, predicting success
in forcing Japan to open its markets to more American-made products.
But Bush, under mounting pressure to pull the nation out of the recession,
also warned not to expect ''a new export boom overnight.''
-30- 758
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0019i  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0019h  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0019g  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0019f  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0019e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
12/31/91
91365y0019d  Newsgrid News
MILAN (DEC. 30) DPA - Italy's foreign trade deficit for the first 11 months of
1991 surged to 17.9 trillion lire (15.6 billion dollars), compared to a 16.2
trillion deficit in the same period last year. Exports were up by 2.9 per cent
 while imports rose by 3.6 per cent in the period.
-30- 309
million cars, the second decline in a row following last year's five per
12/31/91
91365y0019c  Newsgrid News
Fiat, which now accounts for more than 99 per cent of all cars produced in
Italy, said it does not expect the domestic market to start showing signs of
revival until the second half of 1992.
-30- 287
ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
12/31/91
91365y0019b  Newsgrid News
MILAN (DEC. 30) DPA - Italian car production in 1991 fell by 15 per cent to
-30- 80
CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
12/31/91
91365y0019a  Newsgrid News
BEIJING (DEC. 30) XINHUA - CHINA SET A NEW RECORD DURING 1991 BY PRODUCING
139.6 MILLION TONS OF CRUDE OIL AND 14.9 BILLION CUBIC METERS OF NATURAL GAS.
DURING THE YEAR, CHINA DRAFTED A STRATEGY TO EXPLORE FOR NEW OIL FIELDS IN THE
WEST, WHILE STABILIZING OIL PRODUCTION IN THE COUNTRY'S OLDER EASTERN OIL
FIELDS.
-30- 342
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 4:00 A.M.
12/31/91
91365y0019  Newsgrid News
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
TOKYO (DEC. 30) UPI - The Bank of Japan Monday slashed its official discount
rate to 4.5 percent from 5 percent to inject a stimulant into the sluggish
economy prior to the arrival of President George Bush and ease escalating
trade friction with the United States.
The central bank made the decision, effective immediately, at an extraordinary
meeting of the Policy Board.
-30- 775
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0018i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0018h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0018g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0018f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0018e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0018d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0018c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0018b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1093
UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
12/31/91
91365y0018a  Newsgrid News
NEW YORK (DEC. 30) UPI - New York Daily News management sat down Monday for
the first time with the bankrupt tabloid's creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
Joining the News' chief operating officer, Larry Bloom, and other executives
were the paper's committee of unsecured creditors, including officers of its
13 unions. Other creditors represented included three large paper
manufacturing companies.
-30- 504
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 4:00 A.M.
12/31/91
91365y0018  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 818
NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
12/31/91
91365y0017i  Newsgrid News
KIGALI (DEC. 30) DPA - Rwandan Prime Minister Sylvestre Nsanzimana was sworn
in Monday and named a transitional government consisting of ministers from the
National Revolutionary Movement for Development (MRND) and the Christian
Democratic Party (PDC).
Rwandan Radio said that, at a ceremony at the national parliament attended by
President Juvenal Habyarimana, Nsanzimana delivered a major speech dealing
with the ministries' tasks.
-30- 473
UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
12/31/91
91365y0017h  Newsgrid News
(DEC. 30) UPI - The swollen Brazos River continued to rise in Texas Monday
about 20 miles southwest of Houston, threatening more than 150 homes in the
Richmond area, as the falling Colorado River left behind snakes and worms in
mud-filled homes near Wharton.
The Fort Bend County Emergency Office at Richmond said the river, filled with
nearly two weeks of rain from central and north Texas, stood at 49.10 feet at
mid-morning Monday, more than a foot above flood stage.
-30- 506
RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
12/31/91
91365y0017g  Newsgrid News
NEW YORK (DEC. 30) UPI - A rap star at a weekend celebrity benefit where eight
people were crushed to death said Monday police did nothing to stop the deadly
press of the young crowd.
One of the eight victims was pregnant and at least another 28 people were
injured at the benefit Saturday night at the Harlem gymnasium of City College
of the City University of New York.
-30- 464
MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
12/31/91
91365y0017f  Newsgrid News
LA JOLLA, CA (DEC. 30) UPI -  Mother Teresa, the Nobel Peace Prize winning
head of the Missionaries of Charity, was ''seriously ill'' Monday, suffering
from bacterial pneumonia and heart problems, hospital officials said.
The 81-year-old Calcutta nun was in an intensive care unit at Scripps Clinic
and was ''seriously ill but making progress,'' hospital spokeswoman Sue
Pondrom said.
-30- 413
UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
12/31/91
91365y0017e  Newsgrid News
RIYADH (DEC. 30) DPA - Saudi Arabia will announce rules and regulations of a
new Shoura (Consultative) Council in February, Saudi King Fahd said Monday.
King Fahd was speaking at the weekly cabinet meeting held in Riyadh. He
briefed cabinet ministers on studies to finalise the basic systems of
government, the proposed Shoura Council and the provincial structure.
-30- 471
UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
12/31/91
91365y0017d  Newsgrid News
MIAMI (DEC. 30) UPI - The Coast Guard picked up 392 Haitians bound for Florida
during the weekend and returned 85 others voluntarily to Port- au-Prince
Monday while a federal appeals court said it would not decide the refugees'
fate until late January.
The Haitians were found in four boats, all intecepted by Coast Guard cutters
in the Windward Passage between Cuba and Haiti. Officials said 239 of them
were jammed onto one grossly overcrowded 35-foot sailboat.
-30- 495
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0017c  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 553
REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
12/31/91
91365y0017b  Newsgrid News
MOSCOW (DEC. 30) UPI -  Heavy fighting engulfed the Georgian capital of
Tbilisi Monday as rebels stepped up their attack on Government House where the
president remained holed up, but women were evacuated from the building.
In a separate dispute in northern Georgia, government troops shelled towns
inhabited by Ossetians, members of a minority who wants to secede from Georgia
and join Russia.
-30- 431
FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
12/31/91
91365y0017a  Newsgrid News
BELGRADE, YUGOSLAVIA (DEC. 30) UPI -  Federal warjets Monday blasted the
Croatian town of Otocac and a Yugoslav camerman working for a London- based
news agency died from shrapnel wounds in Karlovac hours after the heaviest of
10 days of Serbian bombardments of the Croatian stronghold, news reports said.
Two foreign newsmen were reportedly wounded by the mortar shell that killed
Worldwide Television News camerman Zivko Krsticevic, 37, a resident of the
Croatian capital of Zagreb and the 19th journalist to die in the 6-month-old
civil war.
-30- 585
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 4:00 A.M.
12/31/91
91365y0017  Newsgrid News
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
HICKAM AIR FORCE BASE, HI (DEC. 30) UPI -  President Bush embarked on a
politically important 11-day trade mission to Asia Monday, predicting success
in forcing Japan to open its markets to more American-made products.
But Bush, under mounting pressure to pull the nation out of the recession,
also warned not to expect ''a new export boom overnight.''
-30- 758
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0015i  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0015h  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0015g  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0015f  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0015e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
12/31/91
91365y0015d  Newsgrid News
MILAN (DEC. 30) DPA - Italy's foreign trade deficit for the first 11 months of
1991 surged to 17.9 trillion lire (15.6 billion dollars), compared to a 16.2
trillion deficit in the same period last year. Exports were up by 2.9 per cent
 while imports rose by 3.6 per cent in the period.
-30- 309
million cars, the second decline in a row following last year's five per
12/31/91
91365y0015c  Newsgrid News
Fiat, which now accounts for more than 99 per cent of all cars produced in
Italy, said it does not expect the domestic market to start showing signs of
revival until the second half of 1992.
-30- 287
ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
12/31/91
91365y0015b  Newsgrid News
MILAN (DEC. 30) DPA - Italian car production in 1991 fell by 15 per cent to
-30- 80
CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
12/31/91
91365y0015a  Newsgrid News
BEIJING (DEC. 30) XINHUA - CHINA SET A NEW RECORD DURING 1991 BY PRODUCING
139.6 MILLION TONS OF CRUDE OIL AND 14.9 BILLION CUBIC METERS OF NATURAL GAS.
DURING THE YEAR, CHINA DRAFTED A STRATEGY TO EXPLORE FOR NEW OIL FIELDS IN THE
WEST, WHILE STABILIZING OIL PRODUCTION IN THE COUNTRY'S OLDER EASTERN OIL
FIELDS.
-30- 341
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 3:00 A.M.
12/31/91
91365y0015  Newsgrid News
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
TOKYO (DEC. 30) UPI - The Bank of Japan Monday slashed its official discount
rate to 4.5 percent from 5 percent to inject a stimulant into the sluggish
economy prior to the arrival of President George Bush and ease escalating
trade friction with the United States.
The central bank made the decision, effective immediately, at an extraordinary
meeting of the Policy Board.
-30- 775
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0014i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0014h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0014g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0014f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0014e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0014d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0014c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0014b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1093
UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
12/31/91
91365y0014a  Newsgrid News
NEW YORK (DEC. 30) UPI - New York Daily News management sat down Monday for
the first time with the bankrupt tabloid's creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
Joining the News' chief operating officer, Larry Bloom, and other executives
were the paper's committee of unsecured creditors, including officers of its
13 unions. Other creditors represented included three large paper
manufacturing companies.
-30- 503
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 3:00 A.M.
12/31/91
91365y0014  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 818
NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
12/31/91
91365y0013i  Newsgrid News
KIGALI (DEC. 30) DPA - Rwandan Prime Minister Sylvestre Nsanzimana was sworn
in Monday and named a transitional government consisting of ministers from the
National Revolutionary Movement for Development (MRND) and the Christian
Democratic Party (PDC).
Rwandan Radio said that, at a ceremony at the national parliament attended by
President Juvenal Habyarimana, Nsanzimana delivered a major speech dealing
with the ministries' tasks.
-30- 474
UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
12/31/91
91365y0013h  Newsgrid News
(DEC. 30) UPI - The swollen Brazos River continued to rise in Texas Monday
about 20 miles southwest of Houston, threatening more than 150 homes in the
Richmond area, as the falling Colorado River left behind snakes and worms in
mud-filled homes near Wharton.
The Fort Bend County Emergency Office at Richmond said the river, filled with
nearly two weeks of rain from central and north Texas, stood at 49.10 feet at
mid-morning Monday, more than a foot above flood stage.
-30- 506
RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
12/31/91
91365y0013g  Newsgrid News
NEW YORK (DEC. 30) UPI - A rap star at a weekend celebrity benefit where eight
people were crushed to death said Monday police did nothing to stop the deadly
press of the young crowd.
One of the eight victims was pregnant and at least another 28 people were
injured at the benefit Saturday night at the Harlem gymnasium of City College
of the City University of New York.
-30- 464
MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
12/31/91
91365y0013f  Newsgrid News
LA JOLLA, CA (DEC. 30) UPI -  Mother Teresa, the Nobel Peace Prize winning
head of the Missionaries of Charity, was ''seriously ill'' Monday, suffering
from bacterial pneumonia and heart problems, hospital officials said.
The 81-year-old Calcutta nun was in an intensive care unit at Scripps Clinic
and was ''seriously ill but making progress,'' hospital spokeswoman Sue
Pondrom said.
-30- 413
UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
12/31/91
91365y0013e  Newsgrid News
RIYADH (DEC. 30) DPA - Saudi Arabia will announce rules and regulations of a
new Shoura (Consultative) Council in February, Saudi King Fahd said Monday.
King Fahd was speaking at the weekly cabinet meeting held in Riyadh. He
briefed cabinet ministers on studies to finalise the basic systems of
government, the proposed Shoura Council and the provincial structure.
-30- 471
UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
12/31/91
91365y0013d  Newsgrid News
MIAMI (DEC. 30) UPI - The Coast Guard picked up 392 Haitians bound for Florida
during the weekend and returned 85 others voluntarily to Port- au-Prince
Monday while a federal appeals court said it would not decide the refugees'
fate until late January.
The Haitians were found in four boats, all intecepted by Coast Guard cutters
in the Windward Passage between Cuba and Haiti. Officials said 239 of them
were jammed onto one grossly overcrowded 35-foot sailboat.
-30- 495
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0013c  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 553
REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
12/31/91
91365y0013b  Newsgrid News
MOSCOW (DEC. 30) UPI -  Heavy fighting engulfed the Georgian capital of
Tbilisi Monday as rebels stepped up their attack on Government House where the
president remained holed up, but women were evacuated from the building.
In a separate dispute in northern Georgia, government troops shelled towns
inhabited by Ossetians, members of a minority who wants to secede from Georgia
and join Russia.
-30- 432
FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
12/31/91
91365y0013a  Newsgrid News
BELGRADE, YUGOSLAVIA (DEC. 30) UPI -  Federal warjets Monday blasted the
Croatian town of Otocac and a Yugoslav camerman working for a London- based
news agency died from shrapnel wounds in Karlovac hours after the heaviest of
10 days of Serbian bombardments of the Croatian stronghold, news reports said.
Two foreign newsmen were reportedly wounded by the mortar shell that killed
Worldwide Television News camerman Zivko Krsticevic, 37, a resident of the
Croatian capital of Zagreb and the 19th journalist to die in the 6-month-old
civil war.
-30- 585
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 3:00 A.M.
12/31/91
91365y0013  Newsgrid News
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
HICKAM AIR FORCE BASE, HI (DEC. 30) UPI -  President Bush embarked on a
politically important 11-day trade mission to Asia Monday, predicting success
in forcing Japan to open its markets to more American-made products.
But Bush, under mounting pressure to pull the nation out of the recession,
also warned not to expect ''a new export boom overnight.''
-30- 758
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0011i  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0011h  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0011g  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0011f  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0011e  Newsgrid News
0MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
12/31/91
91365y0011d  Newsgrid News
MILAN (DEC. 30) DPA - Italy's foreign trade deficit for the first 11 months of
1991 surged to 17.9 trillion lire (15.6 billion dollars), compared to a 16.2
trillion deficit in the same period last year. Exports were up by 2.9 per cent
 while imports rose by 3.6 per cent in the period.
-30- 309
million cars, the second decline in a row following last year's five per
12/31/91
91365y0011c  Newsgrid News
Fiat, which now accounts for more than 99 per cent of all cars produced in
Italy, said it does not expect the domestic market to start showing signs of
revival until the second half of 1992.
-30- 287
ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
12/31/91
91365y0011b  Newsgrid News
MILAN (DEC. 30) DPA - Italian car production in 1991 fell by 15 per cent to
-30- 80
CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
12/31/91
91365y0011a  Newsgrid News
BEIJING (DEC. 30) XINHUA - CHINA SET A NEW RECORD DURING 1991 BY PRODUCING
139.6 MILLION TONS OF CRUDE OIL AND 14.9 BILLION CUBIC METERS OF NATURAL GAS.
DURING THE YEAR, CHINA DRAFTED A STRATEGY TO EXPLORE FOR NEW OIL FIELDS IN THE
WEST, WHILE STABILIZING OIL PRODUCTION IN THE COUNTRY'S OLDER EASTERN OIL
FIELDS.
-30- 341
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 2:00 A.M.
12/31/91
91365y0011  Newsgrid News
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
TOKYO (DEC. 30) UPI - The Bank of Japan Monday slashed its official discount
rate to 4.5 percent from 5 percent to inject a stimulant into the sluggish
economy prior to the arrival of President George Bush and ease escalating
trade friction with the United States.
The central bank made the decision, effective immediately, at an extraordinary
meeting of the Policy Board.
-30- 775
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0010i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0010h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0010g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0010f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0010e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0010d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0010c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0010b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1094
UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
12/31/91
91365y0010a  Newsgrid News
NEW YORK (DEC. 30) UPI - New York Daily News management sat down Monday for
the first time with the bankrupt tabloid's creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
Joining the News' chief operating officer, Larry Bloom, and other executives
were the paper's committee of unsecured creditors, including officers of its
13 unions. Other creditors represented included three large paper
manufacturing companies.
-30- 503
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 2:00 A.M.
12/31/91
91365y0010  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 818
NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
12/31/91
91365y0009i  Newsgrid News
KIGALI (DEC. 30) DPA - Rwandan Prime Minister Sylvestre Nsanzimana was sworn
in Monday and named a transitional government consisting of ministers from the
National Revolutionary Movement for Development (MRND) and the Christian
Democratic Party (PDC).
Rwandan Radio said that, at a ceremony at the national parliament attended by
President Juvenal Habyarimana, Nsanzimana delivered a major speech dealing
with the ministries' tasks.
-30- 473
UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
12/31/91
91365y0009h  Newsgrid News
(DEC. 30) UPI - The swollen Brazos River continued to rise in Texas Monday
about 20 miles southwest of Houston, threatening more than 150 homes in the
Richmond area, as the falling Colorado River left behind snakes and worms in
mud-filled homes near Wharton.
The Fort Bend County Emergency Office at Richmond said the river, filled with
nearly two weeks of rain from central and north Texas, stood at 49.10 feet at
mid-morning Monday, more than a foot above flood stage.
-30- 506
RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
12/31/91
91365y0009g  Newsgrid News
NEW YORK (DEC. 30) UPI - A rap star at a weekend celebrity benefit where eight
people were crushed to death said Monday police did nothing to stop the deadly
press of the young crowd.
One of the eight victims was pregnant and at least another 28 people were
injured at the benefit Saturday night at the Harlem gymnasium of City College
of the City University of New York.
-30- 464
MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
12/31/91
91365y0009f  Newsgrid News
LA JOLLA, CA (DEC. 30) UPI -  Mother Teresa, the Nobel Peace Prize winning
head of the Missionaries of Charity, was ''seriously ill'' Monday, suffering
from bacterial pneumonia and heart problems, hospital officials said.
The 81-year-old Calcutta nun was in an intensive care unit at Scripps Clinic
and was ''seriously ill but making progress,'' hospital spokeswoman Sue
Pondrom said.
-30- 413
UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
12/31/91
91365y0009e  Newsgrid News
RIYADH (DEC. 30) DPA - Saudi Arabia will announce rules and regulations of a
new Shoura (Consultative) Council in February, Saudi King Fahd said Monday.
King Fahd was speaking at the weekly cabinet meeting held in Riyadh. He
briefed cabinet ministers on studies to finalise the basic systems of
government, the proposed Shoura Council and the provincial structure.
-30- 471
UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
12/31/91
91365y0009d  Newsgrid News
MIAMI (DEC. 30) UPI - The Coast Guard picked up 392 Haitians bound for Florida
during the weekend and returned 85 others voluntarily to Port- au-Prince
Monday while a federal appeals court said it would not decide the refugees'
fate until late January.
The Haitians were found in four boats, all intecepted by Coast Guard cutters
in the Windward Passage between Cuba and Haiti. Officials said 239 of them
were jammed onto one grossly overcrowded 35-foot sailboat.
-30- 495
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0009c  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 553
REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
12/31/91
91365y0009b  Newsgrid News
MOSCOW (DEC. 30) UPI -  Heavy fighting engulfed the Georgian capital of
Tbilisi Monday as rebels stepped up their attack on Government House where the
president remained holed up, but women were evacuated from the building.
In a separate dispute in northern Georgia, government troops shelled towns
inhabited by Ossetians, members of a minority who wants to secede from Georgia
and join Russia.
-30- 431
FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
12/31/91
91365y0009a  Newsgrid News
BELGRADE, YUGOSLAVIA (DEC. 30) UPI -  Federal warjets Monday blasted the
Croatian town of Otocac and a Yugoslav camerman working for a London- based
news agency died from shrapnel wounds in Karlovac hours after the heaviest of
10 days of Serbian bombardments of the Croatian stronghold, news reports said.
Two foreign newsmen were reportedly wounded by the mortar shell that killed
Worldwide Television News camerman Zivko Krsticevic, 37, a resident of the
Croatian capital of Zagreb and the 19th journalist to die in the 6-month-old
civil war.
-30- 585
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 2:00 A.M.
12/31/91
91365y0009  Newsgrid News
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
HICKAM AIR FORCE BASE, HI (DEC. 30) UPI -  President Bush embarked on a
politically important 11-day trade mission to Asia Monday, predicting success
in forcing Japan to open its markets to more American-made products.
But Bush, under mounting pressure to pull the nation out of the recession,
also warned not to expect ''a new export boom overnight.''
-30- 759
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/31/91
91365y0007i  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/31/91
91365y0007h  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/31/91
91365y0007g  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/31/91
91365y0007f  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/31/91
91365y0007e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
12/31/91
91365y0007d  Newsgrid News
MILAN (DEC. 30) DPA - Italy's foreign trade deficit for the first 11 months of
1991 surged to 17.9 trillion lire (15.6 billion dollars), compared to a 16.2
trillion deficit in the same period last year. Exports were up by 2.9 per cent
 while imports rose by 3.6 per cent in the period.
-30- 309
million cars, the second decline in a row following last year's five per
12/31/91
91365y0007c  Newsgrid News
Fiat, which now accounts for more than 99 per cent of all cars produced in
Italy, said it does not expect the domestic market to start showing signs of
revival until the second half of 1992.
-30- 287
ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
12/31/91
91365y0007b  Newsgrid News
MILAN (DEC. 30) DPA - Italian car production in 1991 fell by 15 per cent to
-30- 80
CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
12/31/91
91365y0007a  Newsgrid News
BEIJING (DEC. 30) XINHUA - CHINA SET A NEW RECORD DURING 1991 BY PRODUCING
139.6 MILLION TONS OF CRUDE OIL AND 14.9 BILLION CUBIC METERS OF NATURAL GAS.
DURING THE YEAR, CHINA DRAFTED A STRATEGY TO EXPLORE FOR NEW OIL FIELDS IN THE
WEST, WHILE STABILIZING OIL PRODUCTION IN THE COUNTRY'S OLDER EASTERN OIL
FIELDS.
-30- 341
TOP INTERNATIONAL BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 1:00 A.M.
12/31/91
91365y0007  Newsgrid News
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
TOKYO (DEC. 30) UPI - The Bank of Japan Monday slashed its official discount
rate to 4.5 percent from 5 percent to inject a stimulant into the sluggish
economy prior to the arrival of President George Bush and ease escalating
trade friction with the United States.
The central bank made the decision, effective immediately, at an extraordinary
meeting of the Policy Board.
-30- 776
OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
12/31/91
91365y0006i  Newsgrid News
RALEIGH, NC (DEC. 30) UPI - The North Carolina Labor Department Monday levied
civil penalties totaling $808,150 against the owner of a chicken processing
plant where 25 people died in a September fire.
Imperial Food Products, based in Atlanta, was cited for 54 willful, 23 serious
and six non-serious violations of health and safety standards, according to a
statement from state Labor Commissioner John Brooks.
-30- 448
AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
12/31/91
91365y0006h  Newsgrid News
COLUMBUS, OH (DEC. 30) PR NEWSWIRE - Banc One Corporation (NYSE: ONE) and
Affiliated Bankshares of Colorado Inc. (NASDAQ: AFBK), headquartered in Denver
 jointly announced today that they have signed a letter of intent providing
for the affiliation of Affiliated Bankshares by Banc One.  The announcement
was made by John B. McCoy, chairman and chief executive officer of Banc One,
and Ronald L. Moore, chairman and CEO of Affiliated.
Terms of the agreement call for the exchange of .66 shares of Banc One common
stock for each share Affiliated Bankshares common stock. Total value of the
transaction is approximately $378 million, based on the closing price of Banc
One common stock on the New York Stock Exchange on Dec. 27, 1991 of $50.87.
The transaction is expected to be completed during the third quarter of 1992
and is subject to regulatory approval and Affiliated shareholders' approval.
-30- 946
GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
12/31/91
91365y0006g  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Global Income Plus Fund, Inc. (NYSE: GLI), a
closed-end management investment company seeking current income and capital
appreciation through investments in U.S. and foreign debt securities, today
announced its performance for the fiscal year ended Oct. 31, 1991.
For the fourth quarter ended Oct. 31, 1991, the fund's earnings from net
investment income were $5,572,399, equal to 22 cents per share.  net realized
and unrealized gains were $8,928,501, equal to 36 cents per share, for the
same period.  This compares to net investment income of $6,394,984, equal to
26 cents per share, and net realized and unrealized gains of $2,689,072, equal
to 12 cents per share, incurred during the quarter ended Oct. 31, 1990.
-30- 782
MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
12/31/91
91365y0006f  Newsgrid News
LATHAM, NY (DEC. 30) BUSINESS WIRE - Mechanical Technology Inc.  (MTI)
reported sales of $64.7 million and a net loss of $8.6 million, or $2.42 per
share, for the year ended September 30, 1991.
Sales for 1990 were $71.9 million and the loss was $1.3 million or $0.38 per
share.  The 1991 and fourth quarter results include a $5.8 million charge
related to the Company's restructuring program. This charge is for estimated
losses on disposal of assets and is not a cash expense.
-30- 512
LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
12/31/91
91365y0006e  Newsgrid News
NORTH WILKESBORO, NC (DEC. 30) PR NEWSWIRE - Lowe's Companies, Inc. (NYSE:
LOW) announced its December sales totaled $233.9 million, a 20 percent
increase over December of 1990.  Retail sales increased 22 percent and sales
to contractors increased 16 percent.
4 Weeks Ended:                 Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            + 22   $171.6     73        $141.1     73
Contractor Sales        + 16   $ 62.3     27        $ 53.5     27
Total Sales             + 20   $233.9    100        $194.6    100
Comparable
 Stores(A)     (285)    + 15   $209.0     89        $182.4     94
New Projects(B)( 21)    +151   $ 24.9     11        $  9.9      5
Closed Stores(C)                                    $  2.3      1
Total Stores   (306)    + 20   $233.9    100        $194.6    100
Week Ended:                    Dec. 27, 1991        Dec. 28, 1990
                  Pct. Change  Sales  Pct. Mix    Sales    Pct. Mix
Retail Sales            +36    $ 41.1     81        $ 30.3      79
Contractor Sales        +25    $  9.9     19        $  7.9      21
Total Sales             +33    $ 51.0    100        $ 38.2     100
Rounded totals, millions of dollars.
-30- 1420
CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
12/31/91
91365y0006d  Newsgrid News
CHICAGO (DEC. 30) UPI - The Chicago area's manufacturing economy slowed in
December for the first time since June, with major declines in production and
employment applying the brakes, the Chicago Purchasing Manager's Business
Barometer showed Monday.
The barometer for December fell to 46 from 53.2 in November. Any number under
50 indicates economic contraction - and the seven-point monthly drop is the
biggest since March-April 1988. But December's 46- point reading is still
ahead of last December's 41.
-30- 622
CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
12/31/91
91365y0006c  Newsgrid News
NEW YORK (DEC. 30) UPI - Consumer confidence, which registered sharp declines
in October and November, remained substantially unchanged in December, the
Conference Board reported Monday.
But analysts noted that respondents to the group's latest survey expressed
more optimism in December about future economic conditions than they had in
recent months.
-30- 461
ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
12/31/91
91365y0006b  Newsgrid News
NEW YORK (DEC. 30) PR NEWSWIRE - Pfizer Inc (NYSE: PFE) announced today that
Zoloft(TM) (sertraline HCl), a chemically distinct, once- daily agent for the
treatment of depression, has been cleared for marketing by the Food and Drug
Administration (FDA).   Zoloft was discovered and developed by Pfizer.   It
will be marketed by the Roerig and Pratt divisions of Pfizer Pharmaceuticals.
According to the National Institutes of Health, depression is the most
prevalent of all mental illnesses.   Approximately, 9.4 million Americans
suffer from the disease.   Unfortunately, many fail to recognize the illness
and do not get the treatment that would alleviate their suffering.   They or
their family members fail to notice a pattern and may attribute physical
symptoms such as fatigue, insomnia or improper appetite to other physical
ailments.   The dollar costs of depression also are startling.   Depression
drains the United States economy of more than $27 billion each year in health
care services, worker absenteeism and low productivity.
-30- 1093
UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
12/31/91
91365y0006a  Newsgrid News
NEW YORK (DEC. 30) UPI - New York Daily News management sat down Monday for
the first time with the bankrupt tabloid's creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
Joining the News' chief operating officer, Larry Bloom, and other executives
were the paper's committee of unsecured creditors, including officers of its
13 unions. Other creditors represented included three large paper
manufacturing companies.
-30- 503
TOP BUSINESS SUMMARY TUESDAY DECEMBER 31, 1991 - 1:00 A.M.
12/31/91
91365y0006  Newsgrid News
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
NEW YORK (DEC. 30) UPI - Stocks rallied for the sixth straight session in
heavy trading Monday as investors hoping for a revived economy in 1992
continued a buying spree that has boosted the market to record highs three
times in the last three trading days.
The Dow Jones industrial average, which jumped 18.56 points to an all-time
high of 3101.52 Friday, surged 62.39 to 3163.91 - just 36.09 points shy of the
3200 mark.
-30- 818
NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
12/31/91
91365y0005i  Newsgrid News
KIGALI (DEC. 30) DPA - Rwandan Prime Minister Sylvestre Nsanzimana was sworn
in Monday and named a transitional government consisting of ministers from the
National Revolutionary Movement for Development (MRND) and the Christian
Democratic Party (PDC).
Rwandan Radio said that, at a ceremony at the national parliament attended by
President Juvenal Habyarimana, Nsanzimana delivered a major speech dealing
with the ministries' tasks.
-30- 473
UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
12/31/91
91365y0005h  Newsgrid News
(DEC. 30) UPI - The swollen Brazos River continued to rise in Texas Monday
about 20 miles southwest of Houston, threatening more than 150 homes in the
Richmond area, as the falling Colorado River left behind snakes and worms in
mud-filled homes near Wharton.
The Fort Bend County Emergency Office at Richmond said the river, filled with
nearly two weeks of rain from central and north Texas, stood at 49.10 feet at
mid-morning Monday, more than a foot above flood stage.
-30- 506
RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
12/31/91
91365y0005g  Newsgrid News
NEW YORK (DEC. 30) UPI - A rap star at a weekend celebrity benefit where eight
people were crushed to death said Monday police did nothing to stop the deadly
press of the young crowd.
One of the eight victims was pregnant and at least another 28 people were
injured at the benefit Saturday night at the Harlem gymnasium of City College
of the City University of New York.
-30- 464
MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
12/31/91
91365y0005f  Newsgrid News
LA JOLLA, CA (DEC. 30) UPI -  Mother Teresa, the Nobel Peace Prize winning
head of the Missionaries of Charity, was ''seriously ill'' Monday, suffering
from bacterial pneumonia and heart problems, hospital officials said.
The 81-year-old Calcutta nun was in an intensive care unit at Scripps Clinic
and was ''seriously ill but making progress,'' hospital spokeswoman Sue
Pondrom said.
-30- 413
UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
12/31/91
91365y0005e  Newsgrid News
RIYADH (DEC. 30) DPA - Saudi Arabia will announce rules and regulations of a
new Shoura (Consultative) Council in February, Saudi King Fahd said Monday.
King Fahd was speaking at the weekly cabinet meeting held in Riyadh. He
briefed cabinet ministers on studies to finalise the basic systems of
government, the proposed Shoura Council and the provincial structure.
-30- 471
UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
12/31/91
91365y0005d  Newsgrid News
MIAMI (DEC. 30) UPI - The Coast Guard picked up 392 Haitians bound for Florida
during the weekend and returned 85 others voluntarily to Port- au-Prince
Monday while a federal appeals court said it would not decide the refugees'
fate until late January.
The Haitians were found in four boats, all intecepted by Coast Guard cutters
in the Windward Passage between Cuba and Haiti. Officials said 239 of them
were jammed onto one grossly overcrowded 35-foot sailboat.
-30- 496
EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
12/31/91
91365y0005c  Newsgrid News
CAIRO (DEC. 30) XINHUA - THE EGYPTIAN GOVERNMENT HAS FORMED A MINISTERIAL
COMMITTEE TO STUDY THE PROSPECTS FOR FUTURE POLITICAL, ECONOMIC AND CULTURAL
RELATIONS WITH THE NEW COMMONWEALTH OF INDEPENDENT STATES (CIS) COMPRISING THE
FORMER SOVIET REPUBLICS, EGYPTIAN PRIME MINISTER ATEF SEDKI ANNOUNDED TODAY.
IN A STATEMENT TODAY BEFORE THE EGYPTIAN PEOPLE'S ASSEMBLY, SEDKI SAID EGYPT
IS KEEN TO PRESERVE ITS RELATIONS AND TIES WITH THE PEOPLES OF THE FORMER
SOVIET REPUBLICS, AND HAS PROMPTLY RECOGNIZED THE NEW REPUBLICS.
-30- 553
REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
12/31/91
91365y0005b  Newsgrid News
MOSCOW (DEC. 30) UPI -  Heavy fighting engulfed the Georgian capital of
Tbilisi Monday as rebels stepped up their attack on Government House where the
president remained holed up, but women were evacuated from the building.
In a separate dispute in northern Georgia, government troops shelled towns
inhabited by Ossetians, members of a minority who wants to secede from Georgia
and join Russia.
-30- 431
FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
12/31/91
91365y0005a  Newsgrid News
BELGRADE, YUGOSLAVIA (DEC. 30) UPI -  Federal warjets Monday blasted the
Croatian town of Otocac and a Yugoslav camerman working for a London- based
news agency died from shrapnel wounds in Karlovac hours after the heaviest of
10 days of Serbian bombardments of the Croatian stronghold, news reports said.
Two foreign newsmen were reportedly wounded by the mortar shell that killed
Worldwide Television News camerman Zivko Krsticevic, 37, a resident of the
Croatian capital of Zagreb and the 19th journalist to die in the 6-month-old
civil war.
-30- 585
TOP NEWS SUMMARY TUESDAY DECEMBER 31, 1991 - 1:00 A.M.
12/31/91
91365y0005  Newsgrid News
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
HICKAM AIR FORCE BASE, HI (DEC. 30) UPI -  President Bush embarked on a
politically important 11-day trade mission to Asia Monday, predicting success
in forcing Japan to open its markets to more American-made products.
But Bush, under mounting pressure to pull the nation out of the recession,
also warned not to expect ''a new export boom overnight.''
-30- 758
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 11:00 P.M.
12/31/91
91365v0094  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1005
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 11:00 P.M.
12/31/91
91365v0093  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
7.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
8.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
9.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
10. NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
-30- 995
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 11:00 P.M.
12/31/91
91365v0092  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1032
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 10:00 P.M.
12/31/91
91365v0090  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1005
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 10:00 P.M.
12/31/91
91365v0089  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
7.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
8.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
9.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
10. NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
-30- 995
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 10:00 P.M.
12/31/91
91365v0088  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1032
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 9:00 P.M.
12/31/91
91365v0086  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1005
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 9:00 P.M.
12/31/91
91365v0085  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
7.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
8.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
9.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
10. NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
-30- 994
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 9:00 P.M.
12/31/91
91365v0084  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1031
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 8:00 P.M.
12/31/91
91365v0082  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1004
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 8:00 P.M.
12/31/91
91365v0081  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
7.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
8.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
9.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
10. NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
-30- 994
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 8:00 P.M.
12/31/91
91365v0080  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1031
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 7:00 P.M.
12/31/91
91365v0078  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1005
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 7:00 P.M.
12/31/91
91365v0077  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
7.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
8.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
9.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
10. NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
-30- 994
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 7:00 P.M.
12/31/91
91365v0076  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1031
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 6:00 P.M.
12/31/91
91365v0074  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1004
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 6:00 P.M.
12/31/91
91365v0073  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING; DOW UP 4.92
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
7.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
8.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
9.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
10. NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
-30- 994
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 6:00 P.M.
12/31/91
91365v0072  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1031
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 5:00 P.M.
12/31/91
91365v0070  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1004
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 5:00 P.M.
12/31/91
91365v0069  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCK PRICES CLOSE HIGHER IN HEAVY TRADING
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
7.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
8.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
9.  NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
10. AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN
    FARMERS
-30- 1006
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 5:00 P.M.
12/31/91
91365v0068  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1031
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 4:00 P.M.
12/31/91
91365v0066  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1011
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 4:00 P.M.
12/31/91
91365v0065  Newsgrid News (H)
 1.  NYSE STOCK PRICES REMAIN LOWER IN HEAVY TRADING AT 3 P.M.; DOW OFF 7.60
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY
    DECLINE
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
5.  HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
6.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
7.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
8.  WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO
    CHEM-TREND
9.  NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
10. AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN
    FARMERS
-30- 1027
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 4:00 P.M.
12/31/91
91365v0064  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1038
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 3:00 P.M.
12/31/91
91365v0062  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1004
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 3:00 P.M.
12/31/91
91365v0061  Newsgrid News (H)
 1.  MARKETS AT A GLANCE - 2 P.M.
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
4.  CHEMICAL BANKING CORP. AND MANUFACTURERS HANOVER CORP. OFFICIALLY MERGE
5.  STERLING OPTICAL CORP. FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION
6.  COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
7.  MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE
    FORM
8.  CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
9.  DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
10. AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN
    FARMERS
-30- 929
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 3:00 P.M.
12/31/91
91365v0060  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
9.  AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
10. ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
-30- 1031
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 2:00 P.M.
12/31/91
91365v0058  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1004
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 2:00 P.M.
12/31/91
91365v0057  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCKS REMAIN AT MIXED LEVELS AT 1 P.M.; DOW OFF 9.84
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
4.  CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY MERGE
5.  STERLING OPTICAL CORP. FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION
6.  IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
7.  ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE
    COMMAND
8.  SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
9.  CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
10. DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
-30- 941
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 2:00 P.M.
12/31/91
91365v0056  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET
    REPUBLICS
5.  FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
6.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
7.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
8.  ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
9.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
10. AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
-30- 1023
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 1:00 P.M.
12/31/91
91365v0054  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
4.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
5.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
6.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
7.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
8.  BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE BROADLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1004
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 1:00 P.M.
12/31/91
91365v0053  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCKS TURN NARROWLY MIXED AT MIDDAY; DOW OFF 7.60 POINTS
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
4.  STANDARD FEDERAL BANK RECEIVES APPROVAL FOR FIVE AFFORDABLE HOUSING
    PROGRAMS
5.  GEORGIA-PACIFIC AND BOWATER COMPLETE JOINT ARRANGEMENT REGARDING MAINE
    MILLS
6.  IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
7.  ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE
    COMMAND
8.  SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
9.  CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
10. DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
-30- 996
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 1:00 P.M.
12/31/91
91365v0052  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
5.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
6.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
7.  ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
8.  CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
    ESCALATES
9.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
10. AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
-30- 1040
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 12:00 P.M.
12/31/91
91365v0050  Newsgrid News (H)
 1.  UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
2.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
3.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
4.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
5.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
6.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE SHARPLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1038
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 12:00 P.M.
12/31/91
91365v0049  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCKS MOVE HIGHER IN ACTIVE TRADING AT 11 A.M.; DOW UP
    17.89
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
4.  NEW YORK DAILY NEWS ASSURED OF ADEQUATE CASH FLOW FOR TWO MONTHS
5.  STANDARD FEDERAL BANK RECEIVES APPROVAL FOR FIVE AFFORDABLE HOUSING
    PROGRAMS
6.  GEORGIA-PACIFIC AND BOWATER COMPLETE JOINT ARRANGEMENT REGARDING MAINE
    MILLS
7.  IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
8.  ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE
    COMMAND
9.  SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
10. ARMCO/CYCLOPS SHAREHOLDERS' MEETINGS TO BE RESCHEDULED FOR END OF JANUARY
-30- 1044
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 12:00 P.M.
12/31/91
91365v0048  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT
    SAYS
3.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
4.  FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
5.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
6.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
7.  ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
8.  CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
    ESCALATES
9.  NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
10. AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
-30- 1048
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 11:00 A.M.
12/31/91
91365v0046  Newsgrid News (H)
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
2.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
3.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
4.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
5.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
6.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE SHARPLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1050
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 11:00 A.M.
12/31/91
91365v0045  Newsgrid News (H)
 1.  TUESDAY'S NYSE STOCKS OPEN SLIGHTLY HIGHER IN QUIET TRADING; DOW UP 2.0
    POINTS
2.  U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
3.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
4.  NEW YORK DAILY NEWS ASSURED OF ADEQUATE CASH FLOW FOR TWO MONTHS
5.  COMERICA TO LOWER PRIME RATE FROM SEVEN PERCENT TO 6.5 PERCENT
6.  GE CAPITAL RAILCAR SERVICES PLANS LEASE OF ITEL RAIL FLEET
7.  AIM TELEPHONES ANNOUNCES UNSUCCESSFUL END TO DEBT RESTRUCTURING EFFORTS
8.  PORTA SYSTEMS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE ASTER CORP.
9.  UNITED DOMINION REALTY TRUST OFFERS THREE MILLION SHARES OF COMMON STOCK
10. GIANT GROUP KEYSTONE CEMENT GRANTED PERMIT FOR STORAGE OF HAZARDOUS WASTE
-30- 975
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 11:00 A.M.
12/31/91
91365v0044  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
3.  FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
4.  ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
5.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
6.  DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
7.  ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
8.  CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
    ESCALATES
9.  POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
10. PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL
    BASE
-30- 1023
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 10:00 A.M.
12/31/91
91365v0042  Newsgrid News (H)
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
2.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
3.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
4.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
5.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
6.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE SHARPLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1050
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 10:00 A.M.
12/31/91
91365v0041  Newsgrid News (H)
 1.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
2.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
3.  COMERICA TO LOWER PRIME RATE FROM SEVEN PERCENT TO 6.5 PERCENT
4.  MARSAM PHARMACEUTICALS ANNOUNCES FDA APPROVAL OF METHOCARBOMAL INJECTION
    USP
5.  TEVA PHARMACEUTICAL RECEIVES FDA APPROVAL FOR GENERIC VERSION OF LIDEX
6.  GE CAPITAL RAILCAR SERVICES PLANS LEASE OF ITEL RAIL FLEET
7.  AIM TELEPHONES ANNOUNCES UNSUCCESSFUL END TO DEBT RESTRUCTURING EFFORTS
8.  ITEL FORMS TRUST TO MAKE PUBLIC OFFERING OF NEW DEBT
9.  NEWMARK & LEWIS TO CLOSE ADDITIONAL STORES
10. TUESDAY'S U.S. DOLLAR REPORT
-30- 937
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 10:00 A.M.
12/31/91
91365v0040  Newsgrid News (H)
 1.  LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
2.  RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
3.  FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
4.  BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
    IMF
5.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA 16 HOURS AHEAD OF
    WASHINGTON
6.  DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
7.  ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
8.  CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
    ESCALATES
9.  POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
10. PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL
    BASE
-30- 1045
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 9:00 A.M.
12/31/91
91365v0038  Newsgrid News (H)
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
2.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
3.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
4.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
5.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
6.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  TUESDAY'S WRAPUP OF ASIAN STOCK MARKETS
10. TUESDAY'S LONDON STOCK PRICES CLOSE SHARPLY HIGHER; FT 100 UP 73.1 POINTS
-30- 1049
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 9:00 A.M.
12/31/91
91365v0037  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  U.S. LEADING ECONOMIC INDICATORS DECLINE 0.3 PERCENT FOR NOVEMBER
3.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
4.  MARSAM PHARMACEUTICALS ANNOUNCES FDA APPROVAL OF METHOCARBOMAL INJECTION
    USP
5.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
6.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
7.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
8.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
9.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
10. OPEN SOFTWARE FOUNDATION ANNOUNCES NEW MEMBER COMPANIES
-30- 1064
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 9:00 A.M.
12/31/91
91365v0036  Newsgrid News (H)
 1.  FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
2.  BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
    IMF
3.  REBELS IN REPUBLIC OF GEORGIA DECLARE NEW YEARS CEASEFIRE
4.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA 16 HOURS AHEAD OF
    WASHINGTON
5.  DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
6.  ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
7.  CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING
    ESCALATES
8.  NEPAL CABINET MINISTRY RESHUFFLE SHARPENS PARTY DIFFERENCES
9.  POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
10. PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL
    BASE
-30- 1024
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 8:00 A.M.
12/31/91
91365v0034  Newsgrid News (H)
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
2.  FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE
    BANKRUPTCY
3.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
4.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
5.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
6.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. TUESDAY'S LONDON STOCK PRICES OPEN HIGHER; FT 100 UP 69.3 POINTS
-30- 1079
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 8:00 A.M.
12/31/91
91365v0033  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1062
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 8:00 A.M.
12/31/91
91365v0032  Newsgrid News (H)
 1.  FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
2.  BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
    IMF
3.  REBELS IN REPUBLIC OF GEORGIA DECLARE NEW YEARS CEASEFIRE
4.  PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA 16 HOURS AHEAD OF
    WASHINGTON
5.  NORTH, SOUTH KOREA SIGN SIX-ARTICLE DECLARATION DENUCLEARIZING PENINSULA
6.  CHINESE PRESIDENT SHANGKUN WARNS OF NEED FOR DOMESTIC STABILITY
7.  MANILA SERVES ONE-YEAR CLOSURE NOTICE FOR LAST U.S. NAVAL BASE
8.  VIETNAM'S NATIONAL ASSEMBLY APPROVES NEW DRAFT CONSTITUTION
9.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
10. NYC OFFICIALS SAY 911 CONFUSION DELAYED AMBULANCE TO HARLEM COLLEGE
    TRAGEDY
-30- 1013
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 7:00 A.M.
12/31/91
91365v0030  Newsgrid News (H)
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
2.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
3.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
4.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. TUESDAY'S LONDON STOCK PRICES OPEN HIGHER; FT 100 UP 69.3 POINTS
-30- 1073
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 7:00 A.M.
12/31/91
91365v0029  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1056
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 7:00 A.M.
12/31/91
91365v0028  Newsgrid News (H)
 1.  BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN
    IMF
2.  REBELS IN REPUBLIC OF GEORGIA DECLARE NEW YEARS CEASEFIRE
3.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
4.  NORTH, SOUTH KOREA SIGN SIX-ARTICLE DECLARATION DENUCLEARIZING PENINSULA
5.  CHINESE PRESIDENT SHANGKUN WARNS OF NEED FOR DOMESTIC STABILITY
6.  MANILA SERVES ONE-YEAR CLOSURE NOTICE FOR LAST U.S. NAVAL BASE
7.  VIETNAM'S NATIONAL ASSEMBLY APPROVES NEW DRAFT CONSTITUTION
8.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
9.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
10. NYC OFFICIALS SAY 911 CONFUSION DELAYED AMBULANCE TO HARLEM COLLEGE
    TRAGEDY
-30- 1012
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 6:00 A.M.
12/31/91
91365v0026  Newsgrid News (H)
 1.  FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12
    PERCENT
2.  CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY
    SAYS
3.  FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
4.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. MONDAY'S LONDON STOCK PRICES END MIXED IN QUIET TRADING
-30- 1064
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 6:00 A.M.
12/31/91
91365v0025  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1056
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 6:00 A.M.
12/31/91
91365v0024  Newsgrid News (H)
 1.  PRESIDENT BUSH ARRIVES IN AUSTRALIA, FIRST STOP ON PACIFIC RIM TRADE
    MISSION
2.  MANILA SERVES ONE-YEAR CLOSURE NOTICE FOR LAST U.S. NAVAL BASE
3.  CHINA, PAKISTAN SIGN CONTRACT FOR NUCLEAR POWER CO-OPERATION
4.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
5.  UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
6.  UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
    SAYS
7.  MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
8.  RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
    STAMPEDE
9.  UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
10. NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
    GOV'T
-30- 1043
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 5:00 A.M.
12/31/91
91365v0022  Newsgrid News (H)
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
2.  CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
3.  ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
4.  ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. MONDAY'S LONDON STOCK PRICES END MIXED IN QUIET TRADING
-30- 1042
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 5:00 A.M.
12/31/91
91365v0021  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1044
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 5:00 A.M.
12/31/91
91365v0020  Newsgrid News (H)
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
2.  FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
3.  REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
4.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
5.  UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
6.  UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
    SAYS
7.  MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
8.  RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
    STAMPEDE
9.  UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
10. NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
    GOV'T
-30- 1066
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 4:00 A.M.
12/31/91
91365v0018  Newsgrid News (H)
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
2.  CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
3.  ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
4.  ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. MONDAY'S LONDON STOCK PRICES END MIXED IN QUIET TRADING
-30- 1042
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 4:00 A.M.
12/31/91
91365v0017  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1044
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 4:00 A.M.
12/31/91
91365v0016  Newsgrid News (H)
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
2.  FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
3.  REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
4.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
5.  UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
6.  UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
    SAYS
7.  MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
8.  RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
    STAMPEDE
9.  UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
10. NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
    GOV'T
-30- 1066
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 3:00 A.M.
12/31/91
91365v0014  Newsgrid News (H)
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
2.  CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
3.  ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
4.  ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. MONDAY'S LONDON STOCK PRICES END MIXED IN QUIET TRADING
-30- 1042
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 3:00 A.M.
12/31/91
91365v0013  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1044
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 3:00 A.M.
12/31/91
91365v0012  Newsgrid News (H)
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
2.  FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
3.  REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
4.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
5.  UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
6.  UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
    SAYS
7.  MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
8.  RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
    STAMPEDE
9.  UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
10. NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
    GOV'T
-30- 1066
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 2:00 A.M.
12/31/91
91365v0010  Newsgrid News (H)
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
2.  CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
3.  ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
4.  ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. MONDAY'S LONDON STOCK PRICES END MIXED IN QUIET TRADING
-30- 1042
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 2:00 A.M.
12/31/91
91365v0009  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1044
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 2:00 A.M.
12/31/91
91365v0008  Newsgrid News (H)
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
2.  FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
3.  REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
4.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
5.  UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
6.  UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
    SAYS
7.  MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
8.  RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
    STAMPEDE
9.  UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
10. NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
    GOV'T
-30- 1066
TOP INTERNATIONAL BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 1:00 A.M.
12/31/91
91365v0006  Newsgrid News (H)
 1.  BANK OF JAPAN CUTS ITS OFFICIAL DISCOUNT RATE TO 4.5 PERCENT
2.  CHINA SETS NEW RECORD DURING 1991 FOR CRUDE OIL, NATURAL GAS PRODUCTION
3.  ITALIAN CAR PRODUCTION FALLS BY 15 PERCENT TO 1.6 MILLION CARS IN 1991
4.  ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
5.  RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
6.  AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
    WELLCOME
7.  GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
8.  AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
    1991
9.  POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
10. MONDAY'S LONDON STOCK PRICES END MIXED IN QUIET TRADING
-30- 1042
TOP BUSINESS HEADLINES TUESDAY DECEMBER 31, 1991 - 1:00 A.M.
12/31/91
91365v0005  Newsgrid News (H)
 1.  MONDAY'S NYSE STOCKS CLOSE HIGHER IN HEAVY TRADING; DOW UP 62.39
2.  UPDATE: N.Y. DAILY NEWS MANAGEMENT DISCUSSES RESTRUCTURING WITH CREDITORS
3.  ZOLOFT, NEW PFIZER ANTIDEPRESSANT, GETS FDA APPROVAL
4.  CONSUMER CONFIDENCE VIRTUALLY UNCHANGED IN DECEMBER, CONFERENCE BOARD
    SAYS
5.  CHICAGO PURCHASING MANAGER'S BUSINESS BAROMETER FALLS SEVEN POINTS IN
    DECEMBER
6.  LOWE'S COMPANIES INC. REPORTS DECEMBER SALES UP 20 PERCENT TO $233.9
    MILLION
7.  MECHANICAL TECHNOLOGY LOSES $8.6 MILLION FOR YEAR ENDED SEPT. 30, 1991
8.  GLOBAL INCOME PLUS FUND, INC. EARNS $5.57 MILLION IN FOURTH QUARTER
9.  AFFILIATED BANKSHARES OF COLORADO TO JOIN BANC ONE CORPORATION
10. OWNER OF IMPERIAL FOOD PRODUCTS FINED $800,000 IN FATAL CHICKEN PLANT
    FIRE
-30- 1044
TOP NEWS HEADLINES TUESDAY DECEMBER 31, 1991 - 1:00 A.M.
12/31/91
91365v0004  Newsgrid News (H)
 1.  PRES. BUSH PREDICTS SUCCESS IN FORCING JAPAN TO OPEN MARKETS TO U.S.
    PRODUCTS
2.  FEDERAL WARJETS BLAST CROATIAN TOWN OF OTOCAC; PARLIAMENT APPROVES BUDGET
3.  REBELS STEP UP ATTACK ON GOVERNMENT HOUSE IN GEORGIAN CAPITAL OF TBILISI
4.  EGYPTIAN GOVERNMENT FORMS COMMITTEE TO STUDY FUTURE OF RELATIONS WITH CIS
5.  UPDATE: HAITIAN REFUGEE INFLUX INTO U.S. BUILDS, 85 OPT TO GO HOME
6.  UPDATE: SAUDI ARABIA TO FORM CONSULTATIVE COUNCIL IN FEBRUARY, KING FAHD
    SAYS
7.  MOTHER TERESA DESCRIBED AS SERIOUSLY ILL, SUFFERING FROM HEART PROBLEMS
8.  RAP STAR ACCUSES POLICE OF DOING NOTHING TO STOP DEADLY CITY COLLEGE
    STAMPEDE
9.  UPDATE: SWOLLEN BRAZOS, TRINITY RIVERS THREATEN TEXANS
10. NEW RWANDAN PREMIER, SYLVESTRE NSANZIMANA, SWORN IN; NAMES TRANSITIONAL
    GOV'T
-30- 1066
WORLD NEWS SUMMARY AT 7:48 P.M.
12/31/91
91365u1748  United Press International
(DEC. 31) UPI - President Bush kicked off the New Year in Australia... where
it's already 1992 because of the international dateline. Bush started off the
new year with a jog and a resolution: better economic times at home. He also
predicted the sluggish economy will pick up... and that he'll be re-elected in
1992. Sydney is his first stop on an 11 day trade mission that will also take
him to Asia.
The Wall Street rally continued up until the final bell of the year. The Dow
Jones industrial average finished the day up four points in very heavy and
very mixed trading, setting another record close at 3168. Analysts disagree
over whether the bull market was an offspring of low interest rates and
technical buying or a signal of investor confidence in the economy. The latest
government news on the economy was mixed as sales of new homes remained the
same and the index of leading economic indicators dropped by three tenths of a
percent.
Japanese firms will NOT be buying up any more real estate. Mead Ventures
Incorporated... a Phoexnix, Arizona firm... polled Japanese executives who
said they expect their firms real estate business to drop. More than 11
percent said it would be a ''significant'' decline. About 41 percent of the
executives said they expect business to stay the same. Some have predicted
Japanese will NOT boost their investment in U- S real estate in 1992 because
of a credit crunch in the Japanese financial sector. The Japanese government
has also restricted such activities.
It's the end of an era for one of the nation's largest and most familiar banks
and the beginning of another for its newest. Manufacturers Hanover... known to
many as Manny Hanny ... merged with Chemical Bank today to form the nation's
second-largest bank holding company with assets of 140-BILLION dollars. The
new bank will retain the Chemical name... but headquarters will move to the
Manufacturers Hanover building in New York. The merger will result in roughly
62-hundred job cuts.
Financial projections show the New York Daily News will survive until March,
at least. The financially beleaguered tabloid announced today it had enough
cash to continue operating through February. Executives say the 72-year-old
Daily News is in NO imminent danger of folding. But the paper remains in
bankruptcy protection... which it sought after owner Robert Maxwell
mysteriously died in November. Maxwell's worldwide publishing empire collapsed
under the weight of massive debt and scandal.
A California federal appeals court today rejected a final challenge to the
state's hotly contested motorcycle helmet law. Opponents of the law made an
11th hour request for a temporary restraining order. They say wearing helmets
actually increases the chances of being killed in an accident because helmets
restrict sight and hearing... giving giving wearers a false sense of security.
But The California Highway Patrol expects the helmet law will cut motorcycle
fatalities by 25 to 35 percent. One minute after midnight it will be UNLAWFUL
for California bikers to ride with the wind in their hair.
The nation's largest athletic shoe company says it will begin airing public
service announcements warning that anyone can get AIDS. Converse Incorporated
said the 30-seconds spots entitled ''Magic's Athletes Against AIDS'' will
feature N-B-A stars and coaches like Kevin Johnson of the Phoenix Suns, Larry
Johnson of the Charlotte Hornets and University of Kentucky coach Rick Pitino.
Converse... who has paid Magic Johnson to pitch its products for the past 13
years... said the former Lakers star will NOT be in the series.
-30- 3966
WORLD NEWS SUMMARY AT 7:48 P.M.
12/31/91
91365u1747  United Press International
(DEC. 31) UPI - President Bush kicked off the New Year in Australia... where
it's already 1992 because of the international dateline. Bush started off the
new year with a jog and a resolution: better economic times at home. He also
predicted the sluggish economy will pick up... and that he'll be re-elected in
1992. Sydney is his first stop on an 11 day trade mission that will also take
him to Asia.
The Wall Street rally continued up until the final bell of the year. The Dow
Jones industrial average finished the day up four points in very heavy and
very mixed trading, setting another record close at 3168. Analysts disagree
over whether the bull market was an offspring of low interest rates and
technical buying or a signal of investor confidence in the economy. The latest
government news on the economy was mixed as sales of new homes remained the
same and the index of leading economic indicators dropped by three tenths of a
percent.
Japanese firms will NOT be buying up any more real estate. Mead Ventures
Incorporated... a Phoexnix, Arizona firm... polled Japanese executives who
said they expect their firms real estate business to drop. More than 11
percent said it would be a ''significant'' decline. About 41 percent of the
executives said they expect business to stay the same. Some have predicted
Japanese will NOT boost their investment in U- S real estate in 1992 because
of a credit crunch in the Japanese financial sector. The Japanese government
has also restricted such activities.
It's the end of an era for one of the nation's largest and most familiar banks
and the beginning of another for its newest. Manufacturers Hanover... known to
many as Manny Hanny ... merged with Chemical Bank today to form the nation's
second-largest bank holding company with assets of 140-BILLION dollars. The
new bank will retain the Chemical name... but headquarters will move to the
Manufacturers Hanover building in New York. The merger will result in roughly
62-hundred job cuts.
Financial projections show the New York Daily News will survive until March,
at least. The financially beleaguered tabloid announced today it had enough
cash to continue operating through February. Executives say the 72-year-old
Daily News is in NO imminent danger of folding. But the paper remains in
bankruptcy protection... which it sought after owner Robert Maxwell
mysteriously died in November. Maxwell's worldwide publishing empire collapsed
under the weight of massive debt and scandal.
A California federal appeals court today rejected a final challenge to the
state's hotly contested motorcycle helmet law. Opponents of the law made an
11th hour request for a temporary restraining order. They say wearing helmets
actually increases the chances of being killed in an accident because helmets
restrict sight and hearing... giving giving wearers a false sense of security.
But The California Highway Patrol expects the helmet law will cut motorcycle
fatalities by 25 to 35 percent. One minute after midnight it will be UNLAWFUL
for California bikers to ride with the wind in their hair.
The nation's largest athletic shoe company says it will begin airing public
service announcements warning that anyone can get AIDS. Converse Incorporated
said the 30-seconds spots entitled ''Magic's Athletes Against AIDS'' will
feature N-B-A stars and coaches like Kevin Johnson of the Phoenix Suns, Larry
Johnson of the Charlotte Hornets and University of Kentucky coach Rick Pitino.
Converse... who has paid Magic Johnson to pitch its products for the past 13
years... said the former Lakers star will NOT be in the series.
-30- 3967
WORLD NEWS SUMMARY AT 5:50 P.M.
12/31/91
91365u1591  United Press International
(DEC. 31) UPI - An experimental drug called ddC appears to help AIDS patients
when used in conjunction with the already-approved AIDS medication AZT. A
study released today by the University of Miami and the University of
California in San Diego found 56 AIDS patients had higher counts of
infection-fighting blood cells when they took both drugs at the same time. The
schools have begun a broader study with 1-Thousand AIDS patients as test
subjects.
Texas is bracing itself for more rain after massive flooding that's claimed 15
lives and caused an estimated 75 Million dollars in damage. The National
Weather Service predicted a 50 percent chance of showers or thunderstorms on
New Year's Eve. That forecast increases to 60 percent tomorrow. Meanwhile
pesky fire ants on the swarm have added an extra menace. And ranchers... who
are herding hundreds of cattle to higher ground... worry how to protect their
animals from the ant's painful bite.
University of Florida researchers say the first 24-hours in a baby's life may
be critical in establishing healthy growth and eating patterns. They're
conducting a three-year study of the way newborns are cared for at hospitals
around the nation. Among the issues they'll consider are how long newborns
should be allowed to cry before somebody picks them up ... and how many hours
should elapse between birth and the baby's first meal.
Today the government widened its Medicare coverage. It's added 9 hundred
hospital procedures that are performed on an out-patient basis that will be
covered. Those procedures included partial removal of a woman's breast,
closing wounds, and removing some small growths. It will be up to a physician
to decide whether an operation can be done on an in or out-patient basis.
Now that its independence is official... the government of Ukraine is trying
to straighten out financial matters. It has applied for membership in the
International Monetary Fund... the first former Soviet republic to do so.The
IMF is an international cooperative monetary institution created to help
countries with money problems. In turn... The Ukranian government also has to
meet human rights policy prescribed by the I-M-F.
China has agreed to sell Pakistan a nuclear power plant. The country has been
under fire for selling nuclear technology to other nations... including Iran
and Iraq. But it says this deal would be submitted to international
proliferation safeguards. The announcement comes after China's Parliament
moved to sign the Nuclear Nonproliferation Treaty... which bans the spread of
nuclear weapons.
Western governments have charged that China... an ally of Pakistan... helped
the country develop its nuclear weapons capability.
California State Police have confirmed that a bomb disguised as a package to
Governor Pete Wilson was intercepted in the Capitol mail room over the weekend
and safely disarmed. Police were alerted by a mail room clerk late Saturday
afternoon... when Wilson was away from the building. Officers are being
tight-lipped about the bomb... but a source told the San Jose Mercury News
that it was filled with explosive powder and small rocks.
-30- 3477
WORLD NEWS SUMMARY AT 3:52 P.M.
12/31/91
91365u1404  United Press International
(DEC. 31) UPI - A drop in consumer confidence dragged down the latest
government forecast on the economy. Analysts say the three tenths of a percent
drop in the index of leading economic indicators is further evidence the
economy is still stagnant... despite some signs of hope and a year-end rally
on Wall Street. Experts say Americans worried about employment hurts many
sectors of the economy and as long as that attitude prevails recovery will be
slow.
Japan's prime minister says General Motors is - in his words - ''like the
Stars and Stripes for American people.'' Citing G-M's recent announcement that
it would cut 74-Thousand jobs in the next five years.. . the prime minister...
whom President Bush will visit in January... today asked Japanese car makers
to help promote American car and car- part sales in Japan.
There may be a new hope for chronic arthritis sufferers. The Food and
DrugAdministration has approved a drug that reduces arthritis pain. The drug
will be sold under the brandname Relafen. Most of the drugs that treat chronic
arthritis causes gasrointestinal ulcers and other bleeding. Studies of Relafen
show fewer patients taking this drug suffer ill side affects.
Reseachers today said migraines can affect the wallet. A scientific survey
revealed more than 23 Million Americans suffer from migraine headaches. Most
of them are women and low-income people with earnings less than ten thousand a
year. The study... which is published in the Journal of the American Medical
Association... also found migraines can cause incomes to drop because it
affects job performance. Diet, stress and other factors associated with low
income is likely the cause they said.
A Houston teen is in custody today after authorities caught him with an AK-47
assault rifle... 29 rounds of ammunition and 300 pages of notes detailing...
among other things... plans to slaughter children on a playground... and
information about recent mass shootings. The 16-year- old... who was wearing
military fatigues when police caught him... is charged with reckless conduct.
In Redwood City, California... the San Mateo County sheriff's office got an
unusual New Year's gift yesterday... a footlocker full of cocaine left on its
dorrstep. The 330 pounds of coke had been stolen from the department December
24th by someone who battered down a door at the office of county's narcotics
task force. Detectives are currently conducting tests to determine if the
footlocker really contains cocaine. .. and if any is missing.
For the seventh time in a row... a California parole board has nixed a former
Manson Family member's request to get out of jail. The board refused to
release Leslie Van Houton... who is serving a life sentence for the 1969
killings of Rosemary and Leo LaBianca in their Los Angeles- area home. Van
Houton was also convicted of involvement in the murders of pregnant actress
Sharon Tate and four others in the so-called Charles Manson ''Helter Skelter''
murders.
-30- 3293
LONE GUNMAN GRABS CASH FROM DALLAS, TEXAS CITY HALL CREDIT UNION
12/31/91
91365u1390  United Press International
DALLAS (DEC. 31) UPI - A lone gunman got away with an undetermined amount of
cash Tuesday after he staged a daring holdup at an office in busy Dallas City
Hall.
The man brandished a pistol and ordered a clerk in the city workers' Credit
Union to give him $100 bills, police said. The clerk complied, but it was not
clear how much money the bandit took.
Assistant City Manager Levi Davis was entering the Credit Union to make a
deposit when he spotted the robber. Davis said he saw workers and customers
lying on the floor.
''He looked suspicious. He was holding his chest and holding his head down and
running,'' Davis said. ''I wasn't going to tackle him or stop him, but I
wanted to keep him in sight.''
Davis chased the man out of the building and about a quarter-mile along a
street. He was joined by two off-duty police officers, who fired shots at the
suspect but apparently did not hit him.
Davis gave up the chase when the suspect turned around and fired at him but
missed.
The robber hijacked a cab, ordering driver Lester Harper to take him to an
area near State Fair Park.
''With that gun, he didn't have to say very much,'' Harper said. ''We drove
about 5 or 6 miles and he jumped out. When he took off in one direction, I
took off in the other.
''It's all in a day's work,'' Harper said. A police search failed to locate
the robber.
-30- 1735
AMGEN INC. SURGES TO CAP SPECTACULAR YEAR IN WHICH ITS STOCK VALUE QUADRUPLED
12/31/91
91365u1376  United Press International
LOS ANGELES (DEC. 31) UPI - Stock of biotechnology leader Amgen Inc. surged
Tuesday, capping a spectacular year that has seen the value of the issue more
than quadruple. Amgen, which jumped $3.875 on Monday, led the over-the-counter
active issues Tuesday, soaring $6.375 to close at $75.75.
The stock has been boosted this week by bullish comments on the television
show "Wall Street Week" and by its inclusion into the Standard & Poor's 500 as
of the close of trading Tuesday to fill the vacancy created by the merger of
CS/Sovran and NCNB.
"Now that Amgen is in the S&P 500, no fund manager is going to want to not
have it in his portfolio," said John McCament, editor of the Medical
Technology Stock Letter, of Berkeley, Calif. "Not only is it part of the index
 it also looks excellent in terms of earnings."
Amgen, of Thousand Oaks, Calif., received several major boosts this year. In
February, it won approval in February from the government to sell its
gene-spliced anti-infection drug, neupogen, for chemotherapy patients. In
March, it won a key dispute with Genetics Institute Co., of Cambridge, Mass.,
when an appeals court ruled in its favor in a patent dispute over its
anti-anemia drug, epogen.
Analysts have said that Amgen should be able to dominate the market for both
drugs for several more years.
In the second quarter ended Sept. 30, Amgen earned $49.4 million on sales of
$178.6 million. The profits were up 128 percent over the year-ago period,
while sales were up 127 percent.
The company was virtually unnoticed for much of the 1980s, with Genentech Inc.
 of South San Francisco, Calif., widely identified as the industry leader. But
after Genentech sold a majority stake in 1990 to F. Hoffman La Roche & Co.,
Amgen remains the only independent, major biotech firm to have achieved its
own manufacturing, marketing and sales capabilities.
Amgen's stock rose most of this year and the company announced a three-for-one
stock split this summer. Its lowest 1991 price, on an adjusted basis, was
$18.75 a share.
The entire sector has rebounded from a November sell-off, which was triggered
by concerns that many of the stocks had been overpriced. Analysts warned
investors were overlooking the fact that many of the biotech companies would
need several more years to get key products to market.
Amgen's next products are not expected to become available until the middle of
the decade.
Several other biotech issues also rose in over-the-counter trading Tuesday,
led by Centocor, which gained $2.50 to $53.50 a share, and Immucor, up $2.25
to $$19.75.
Immune Response, up $3 on Monday, added $1.25 to close at $39.25; Synergen,
which gained $2.75 on Monday, added $1.25 to close at $68.50; Chiron, up $4.25
on Monday, added 75 cents to close at $69.75.
-30- 3419
U.S. APPEALS COURT DENIES CHALLENGE TO CALIFORNIA'S MOTORCYCLE HELMET LAW
12/31/91
91365u1364  United Press International
SANTA ANA, CA (DEC. 31) UPI - A federal appeals court rejected Tuesday a
final challenge to the state's hotly contested motorcycle helmet law that
takes effect one minute after the new year begins.
The Fourth District Court of Appeals denied without comment a request by the
law's opponents for an emergency stay to block its implementation.
A Superior Court judge rejected last Friday the group's 11th-hour request for
a temporary restraining order to stop the law. Superior Court Judge James
Alfano also set a hearing for Feb. 26 on what opponents say are constitutional
issues raised by the law.
Wendy Lascher, an attorney representing the law's opponents, said the appeals
court ruling did not mean the end of the battle to keep the wind flowing
through bikers' hair.
''I think we're going to get ready for the Feb. 26 hearing and we look forward
to having someone review the constitutional issues. No court has done that yet
'' Lascher said. ''I think we have some good arguments and we'll have even
more time to gather more.''
Helmet-law opponents, including the California Motorcyclist Association, filed
suit in Orange County Superior Court Nov. 27, seeking a court review of the
law on grounds that it would force thousands of Sikhs in the state to either
break it or a tenet of their religion that requires them to wear turbans.
The suit also claimed that the law would severely disadvantage or even
endanger people with certain handicaps or medical conditions. The law provides
no religious or medical exemptions.
The controversial law, to take effect at 12:01 a.m. New Year's Day, will
impact the motorcycle-riding habits of about 841,000 licensed motorcyclists.
Opponents contend that wearing helmets actually increase the likelihood of
being killed in an accident because helmets restrict sight and hearing while
giving wearers a false sense of security.
The California Highway Patrol, however, expects the helmet law will cut
motorcycle fatalities by 25 to 35 percent. The CHP will start enforcing the
law at midnight Jan. 1.
The Los Angeles Police Department has said it will observe a 30-day grace
period before enforcing the law. The Los Angeles County Sheriff's Department
plans a 15-day grace period.
The law requires both the driver and passenger to wear a helmet while riding.
Violators can be punished by fines of up to $100 for the first offense and up
to $250 for subsequent tickets.
-30- 2792
CONVERSE INC. TO AIR AIDS PUBLIC SERVICE ANNOUCEMENTS
12/31/91
91365u1355  United Press International
NORTH READING, MA (DEC. 31) UPI - Converse Inc., the nation's largest
athletic shoe company, said it will be begin airing a series of public service
announcements Thursday featuring NBA stars and coaches warning Americans that
"anyone can get the AIDS virus."
The 30-second spots, entitled "Magic's Athletes Against AIDS," will feature
Kevin Johnson of the Phoenix Suns, Larry Johnson of the Charlotte Hornets and
former New York Knicks coach Rick Pitino, now head coach at the University of
Kentucky.
Converse, who has paid Magic Johnson to endorse its products for the past 3
years, said Tuesday the ad would be aired for the next three weeks on the
major networks and the popular cable music channel MTV, at a cost of $1
million.
Additional 30- and 15-second spots with Larry Bird of the Boston Celtics and
North Carolina basketball coach Dean Smith will be produced in 1992, along
with print ads on AIDS education and research, the company said. All of the
coaches and athletes featured in the spots endorse Converse products.
Converse first announced it would sponsor the spots in November, shortly after
Johnson disclosed that he had contracted the AIDS virus and was retiring from
the Los Angeles Lakers.
At the time, Converse President Gib Ford said the company would honor its
contract with Johnson, which runs through 1995.
Johnson has said he plans to devote much of his time and energy to warning
Americans, particularly young people, about AIDS and urging them to practice
safer sex. But Converse said he would not appear in the "Magic's Athletes
Against AIDS" series.
"Right now, we felt it would be more effective to have athletes speaking to
his cause, rather than having Johnson in there himself," said Converse
spokeswoman Jennifer Murray. "We just thought it would be a more effective
message."
The initial ad will debut on NBC's "Different World" and FOX's "Beverly Hills,
90210" Thursday, and will continue with spots on "Saturday Night Live,"
"Arsenio Hall," "In Living Color," "Fresh Prince," "Friday Night Videos" and
"Married...With Children," the announcement said.
The public service ad was produced with the help of the National Centers For
Disease Control in Atlanta, and the CDC's national AIDS hotline number -
1-800-342-AIDS - will be featured at the end of announcement, Converse said.
Lon Rosen, Magic Johnson's agent, said the ads carry "a strong and effective
message."
"Earvin endorses the messages from Kevin, Larry and Rick and supports their
call to action in the fight against the HIV virus and AIDS," he said.
-30- 3147
U.S. COURT DISMISSES EFFORTS TO FORCE TUCSON ELECTRIC POWER INTO BANKRUPTCY
12/31/91
91365u1349  United Press International
TUCSON, AZ (DEC. 31) UPI - A bankruptcy court judge Tuesday dismissed
petitions by several creditors who had sought to force an Arizona utility to
reorganize under Chapter 11 of the federal bankruptcy code.
Tucson Electric, which opposed the petitions when they were filed in July,
said it has been able to reach agreements with representatives of all
creditors, lessors and suppliers involved in restructuring the company's
obligations.
Judge Lawrence Ollason granted Tucson's Electric's motion to dismiss the
petitions following a hearing that included support for the dismissal from
several of the petitioners.
Had the petitions been approved, Tucson Electric would have become the largest
utility bankruptcy-law case in U.S. history. The only other major public
utility to operate under the code, Public Service Co. of New Hampshire, filed
in 1988 and emerged from Chapter 11 earlier this year.
The creditors filed the petitions against Tucson Electric and two wholly owned
subsidiaries, San Carlos Resources Inc. and Valencia Energy Co. Their claims
involved investments in four transactions involving power plants purchased
from Tucson Electric and leased back to it or a former unit.
The creditors who filed the petition last July were Emerson Finance Co., IBM
Credit Financing Corp., Philip Morris Capital Corp., Harvey Hubbell Financial
Inc., United States Trust Co. of New York and Ford Motor Credit Co.
Tucson Electric said the court also received terms of an agreement in
principle with a former unit, Century Power Corp., and renegotiated terms on
more than $1 billion in unsecured bank debt.
Ollason also ordered the utility to turn over to a special rate-payer analyst
a report by the board of directors that studied the possibility of litigation
against past officers. The judge also requested the analyst to review whether
the court retains jurisdiction over the payment of legal fees related to the
bankruptcy action.
Tucson Electric obtained approval in October from the Arizona Corporation
Commission for a 15 percent rate increase, contingent upon the bankruptcy
petitions being withdrawn or dismissed by a deadline of Tuesday.
The company announced on Tuesday afternoon that the commission had made the
order for the rate increase permament.
"It's a relief to see the bankruptcy cloud lifting after a year of hard work
and difficult negotiations," said Charles E. Bayless, president and chief
executive officer.
-30- 2800
MOTHER TERESA'S HEART CONDITION IMPROVES BUT SHE REMAINS HOSPITALIZED
12/31/91
91365u1340  United Press International
LA JOLLA, CA (DEC. 31) UPI - Mother Teresa's heart condition was improving
Tuesday, but doctors said it was too early to tell whether the Nobel Peace
Prize winner was responding to treatment for pneumonia.
The 81-year-old Calcutta, India, nun was in intensive care at Scripps Clinic
where her condition was unchanged from Monday when officials said she was
seriously ill but making progress.
Mother Teresa was admitted to Scripps without public notice Dec. 26 with
bacterial pneumonia and underwent a balloon angioplasty operation Saturday
after doctors noticed signs of an inadequate blood flow to her heart.
"Her heart is improving, but she continues to have fluid in her lungs," her
doctors said in a release Tuesday. "She has a complicated bacterial pneumonia
that is being treated. Given her age, it is too early to predict the response
to that treatment."
The Roman Catholic nun fell ill during a pre-Christmas visit to Tijuana,
Mexico, where sisters from the order she founded in India, the Missionaries of
Charity, work with the border city's poor.
"Mother Teresa continues to be seriously ill and her condition remains
unchanged," Dr. Patricia Aubanel, her Tijuana physician, and Dr. Paul
Tierstein, the director of Interventional Cardiology at Scripps, said in their
brief statement. "It is too early to predict the length of her stay," they
said.
Although Mother Teresa was not allowed to have visitors, an exception was made
Monday for San Diego Bishop Robert Brom, who prayed for her recovery and
passed on a get-well message from Pope John Paul II.
Sisters from Mother Teresa's order were at the hospital in their distinctive
blue-trimmed white habits. Scripps said that flowers, cards and visits from
members of the general public were not being accepted.
Tierstein said Mother Teresa's spirits had been good, even when facing the
heart procedure.
"We had to obtain numerous signatures on consent forms for the procedure,"
Tierstein said at a news briefing Tuesday. "Her response was 'So many
signatures for such a small heart."'
Mother Teresa received the Nobel Peace Prize in 1979 in recognition for more
than 30 years of work with the destitute and dying of Calcutta.
In 1990, she announced she was stepping aside as the head of the Missionaries
of Charity, but continued to play an active role in the order's affairs around
the world.
She had been fitted with a pacemaker in 1989 and ignored questions about her
health from reporters after she arrived in Tijuana Dec. 11.
After being urged to enter the hospital by Dr. Aubanel and Bishop Emilio
Berlie of Tijuana, Mother Teresa began to experience myocardial ischemia, an
inadequate flow of blood to the heart that was described by the hospital as a
brief incident of heart failure.
"But there was no damage to the heart muscle cells," said Scripps spokeswoman
Sue Pondrom. "It was not a heart attack."
On Sunday, doctors discovered blockages in her coronary arteries and cleared
them with the balloon angioplasty procedure.
Mother Teresa was born Agness Gonxha Bojaxhiu in Yugoslavia on Aug. 27, 1910.
As a teenager, she decided to become a missionary and left Yugoslavia after
being accepted in 1929 to help a mission in Calcutta.
After taking her final vows at the Loweto Convent in Calcutta, she taught for
about 15 years. In 1946 she received permission to leave her order and work
among the poor.
-30- 4056
LIST: CORPORATE DIVIDENDS
12/31/91
91365u1331  United Press International
(DEC. 31) UPI - Corporate Dividends:
Company             Period    Amount    Payable   Record
Increased
Production Operators   Q       .05       2-14      1-15
Usual
Allstate Mcpl IOT      M       .06       1-24      1-10
Allstate Mcpl IOT      M       .06       2-21      2-7
Allstate Mcpl IOT      M       .06       3-20      3-6
Allstate Mcpl IOT II   M       .065      1-24      1-10
Allstate Mcpl IOT II   M       .065      2-21      2-7
Allstate Mcpl IOT II   M       .065      3-20      3-6
Allstate Mcpl IOT III  M       .06       1-24      1-10
Allstate Mcpl IT       M       .06       1-24      1-10
Allstate Mcpl IT       M       .06       2-21      2-7
Allstate Mcpl IT       M       .06       3-20      3-6
Allstate Mcpl IT II    M       .0575     1-24      1-10
Allstate Mcpl IT II    M       .0575     2-21      2-7
Allstate Mcpl IT II    M       .0575     3-20      3-6
Allstate Mcpl IT III   M       .055      1-24      1-10
Allstate Mcpl IT III   M       .055      2-21      2-7
Allstate Mcpl IT III   M       .055      3-20      3-6
Allstate Mcpl PIT      M       .06       1-24      1-10
Dean Witter Govt IT    M       .065      1-24      1-10
Dean Witter Govt IT    M       .065      2-21      2-7
Dean Witter Govt IT    M       .065      3-20      3-6
InterCapital IMBT      M       .0875     1-24      1-10
InterCapital ISI       M       .155      1-24      1-10
InterCapital ISI       M       .155      2-21      2-7
InterCapital ISI       M       .155      3-20      3-6
InterCapital QMIT      M       .085      1-24      1-10
a-annual; m-monthly; q-quarterly; s-semi-annual.
-30- 1958
SURVEY INDICATES JAPANESE INVESTMENT IN U.S. REAL ESTATE TO DECLINE IN 1992
12/31/91
91365u1315  United Press International
PHOENIX, AZ (DEC. 31) UPI - Japanese real estate investment in the United
States, which has already plunged, will probably continue to decline in 1992,
a survey of Japanese executives showed Tuesday.
About 43 percent of the executives polled by Mead Ventures Inc., of Phoenix,
Ariz., said they expect their firm's real estate related business to decline
in 1992 compared with 1991, including 11.7 percent who said it would be a
"significant" decline.
"Unless there are some major surprises, the Japanese are not going to buy a
lot more U.S. real estate in 1992," said Christopher Mead, president of the
research and publishing firm.
About 41 percent of the executives said they expect business to stay "about
the same," while 16 percent expect an increase.
Mead said that at the end of 1990, his firm had found a similar percentage of
executives had responded in the same fashion. But he noted that Japanese
investment fell sharply during 1991, from $13.1 billion to as little as $4
billion.
"Therefore, when an executive in the 1991 poll predicts business will 'stay
about the same' as in 1991, he is decidedly more pessimistic than was an
executive who a year ago said business would stay about the same as in 1990,"
Mead said.
"For most companies, business in 1991 was much worse than it was in 1990,"
Mead added. "Having experienced a bad year in 1991, most expect things to stay
the same or get even worse."
Los Angeles-based accounting firm Kenneth Leventhal & Co. has already
predicted that the Japanese will not boost their investment in U.S. real
estate in 1992 because of a credit crunch in the Japanese financial sector and
the Japanese government's restrictions on such activities.
Jack Rodman, director of the firm's Pacific Rim activities, predicted last
March that Japanese investment would be between $6 billion and $10 billion for
1991. He said recently that the final figure will be well under $6 billion.
Japanese interest in U.S. real estate peaked in 1988 when the investment
amounted to $16.5 billion, according to Kenneth Leventhal's figures.
However, the Mead survey said 77 percent of the polled executives expect that
for the rest of the 1990s, the level of Japanese investment will not approach
the $13 billion range of recent years.
The survey also found that Southern California remains the most attractive
location for Japanese investors, followed by New York, Honolulu, San Francisco
 Seattle, Atlanta, San Diego, Chicago, Dallas and Phoenix.
In state-by-state rankings, California topped the list, followed by Hawaii,
New York, Washington, Florida, Georgia, Illinois and Texas (tied), Arizona and
New Jersey.
"Despite problems in the U.S. real estate sector, executives in Japanese firms
have not written off the United States," Mead said. "California, especially
Southern California, continues to exhibit a strong attraction to Japanese real
estate investors, lenders and others."
Mead also said Atlanta, Phoenix and Seattle have recently improved their
positions in the eyes of the Japanese real estate business community.
-30- 3512
PRES. BUSH'S NEW YEAR'S RESOLUTION: "PROSPERITY AT HOME"
12/31/91
91365u1308  United Press International
SYDNEY, AUSTRALIA (DEC. 31) UPI - George Bush, the most traveled president in
U.S. history as well as one of the most athletic, began the New Year with a
morning jog in Australia Wednesday and by saying his top resolution for 1992
is better economic times at home.
"While people are hurting ... my first resolution has to be for the well-being
of the American people," Bush told reporters following a 20- minute run at
Scots College.
Bush voiced optimism that the sluggish U.S. economy will rebound and that he
will be re-elected this November.
"We have a lot to do, but I'm confident that if I do my job right the American
people will support me," said Bush, dressed in blue shorts, a white T-shirt
and sneakers.
The president arrived New Year's Eve in Sydney, Australia, his first stop on
an 11-day trade mission that will also take him to Singapore, South Korea and
Japan. Because he crossed the international dateline on his trip, Bush rang in
1992 hours before celebrations in the Unites States began.
The president is seeking to pry open foreign goods, but indicated Wednesday he
plans to make no concessions to Australia, which maintains U.S. agricultural
subsidies place its farmers at an economic disadvantage.
"We'll talk openly to them as friends," Bush said shortly before a scheduled
meeting with Australian Prime Minister Paul Keating.
The president stressed the long and strong alliance between the United States
and Australia and said "one or two differences" would not weaken it.
Bush brushed off reporters when asked if it was hypocritcal to seek trade
concessions from Japan while refusing to give them to Australia, saying he
would discuss U.S.-Japanese trade relations when he arrives in Tokyo next week.
On the way back to his room at Ritz Carlton Hotel, Bush, his shirt sweaty and
a towel around his neck, popped up out of his black limousine to exchange New
Year's greetings with several dozen people along Cross Street. He signed
autographs, posed for pictures and even picked up a few babies.
"Listen, I better get cleaned up and go to work," said Bush as he dashed into
the hotel to shower and change.
Bush is the most traveled president in U.S. history, a feat that has drawn
complaints he should spend more time at home on domestic problems and less
circling the globe.
This is the 20th overseas trip of his presidency and Australia was the 34th
foreign nation he has visited.
He maintains this tour is aimed specifically at improving domestic conditions
by expanding traded and creating more jobs.
Speaking with reporters after his jog, the president was asked about his New
Year's resolutions.
He said, "Always for peace. Certainly this year, with Americans hurting and
our economy sluggish, prosperity at home."
"I think of the people who don't have it so good, but I'm also confident that
the well," he said, predicting that his still undisclosed economic rescue plan
 to be announced in a Jan. 28 State of the Union Address to Congress, will
jump-start the economy.
Asked if he had any personal resolutions for 1992, the athletic 67- year-old
president said to "jog a little speedier," to "catch a few more fish" and to
"keep up with sports."
Bush also extended holiday good wishes to both Americans and Australians.
"Happy New Year to all the people of the United States ... to all the people
of Australia," he said.
Kate Wain and members of her family exchanged greetings and handshakes with
Bush before the president started his jog at Scots College.
Wain, whose husband runs the school's boarding house, said, "Australians
admire President Bush. We feel he is more more confident than (Ronald) Reagan
was."
-30- 4244
EARLY BIRDS STAKE OUT THEIR CLAIMS ALONG TOURNAMENT OF ROSES PARADE ROUTE
12/31/91
91365u1277  United Press International
PASADENA, CA (DEC. 31) UPI - The possibility of rain and threats of protests
failed to dampen the enthusiasm Tuesday of hundreds of die-hard Rose Parade
fans who began lining the route the day before the renowned floral festival.
"This is the first time for me," said Barry Wilson, 45, who drove 11 1/2 hours
with 15 other people from El Cerrito in Northern California for the big event.
"I figured one night out of the year camping out on the sidewalk in the cold
all night sounded like a fun thing to do."
Meanwhile, thousands of volunteers headed into the home stretch Tuesday,
working around the clock festooning the star attractions of the 103rd
Tournament of Roses Parade - the 60 blossom-laden floats that seem to get
bigger and more spectacular every year.
This New Year's Day parade will take on special meaning for one parade-watcher
- former hostage Joseph Cicippio - who will attend as a guest of honor.
Cicippio, 61, released by his Shiite Muslim captors less than a month ago,
said that he often dreamed of seeing the flowers on the Rose Parade floats
during his five years in captivity. After returning to his home in
Pennsylvania upon his release, he contacted parade organizers and asked if his
dream could come true.
The answer was a definite yes and on Tuesday he was given a behind-the-scenes
look at float building and was to have a front-row grandstand seat for the
parade.
Cicippio and his wife were treated to airfare, hotel accommodations and a
rental car by Tournament of Roses officials and the Pasadena Convention Bureau.
"We thought it would be a great opportunity to do something nice for him,"
said Convention Bureau spokeswoman Gail Thompson.
More than 1,000 police and sheriff's deputies assigned to parade duty girded
for anticipated protests by American Indian groups and others who are critical
of this year's parade theme, "Voyages of Discovery," being represented in the
form of a grand marshal who is a direct descendant of Christopher Columbus.
In an act of conciliation to those offended by the selection of Spanish duke
Cristobal Colon, parade organizers, for the first time in history, chose a
second grand marshal to lead the parade.
But despite the choice of co-grand marshal Colorado Rep. Ben Nighthorse
Campbell, the only American Indian in Congress who will be dressed in the
attire of his Cheyenne ancestry for the parade, many were not mollified.
A 15-hour peaceful demonstration featuring American Indian dancing and poetry
readings was to begin at sunset Tuesday, continuing until shortly before the
parade begins at 8:10 a.m. PST Wednesday.
"The vigil is to mourn the loss of our ancestors who were victims throughout
the last 500 years of repression and genocide against our indigenous peoples,
which Colon represents," said vigil organizer Jose Maldonado.
Members of the Alliance of Native Americans, a statewide organization, plan to
express their disapproval by going to the parade, but turning their backs on
Colon and Campbell as they pass by.
But the festering controversy had little impact on the early-bird parade
veterans who bring their sleeping bags and lounge chairs and stake claim along
the parade route one day early.
"I'm here because this is the biggest, humongous New Year's Eve party around,"
said 17-year-old Shelly Novo of Arcadia. "And besides, Columbus didn't wipe
out the Indians all by himself."
Novo said she was more concerned about the chance of rain spoiling the parade
than any protests.
Weather forecasters predicted a Pacific storm to move in over Pasadena and
elsewhere in Southern California Wednesday afternoon, sparring the parade and
its fans.
By the time the first of the parade's 60 floats, 22 bands and 29 equestrian
teams make their way down Colorado Boulevard, more than 1 million spectators
will have crowded along the parade route.
In another first for the parade will be the first live telecast to the former
Soviet Union, where citizens of the Russian Federation will be able to watch
the parade live along with some 325 million other viewers worldwide.
-30- 4881
STANDARD AND POOR'S INDEXES -  5 P.M.
12/31/91
91365u1260  United Press International
NEW YORK (DEC. 31) UPI -  Standard & Poor's hourly stock indexes (1982
average equals 100 for transportation; all others 1941-43 equals 10):
           400      20       40        40      500      400
          Indust   Trans    Utils     Fncl    Stocks   MidCap
 Previous 490.43   337.57   153.50    34.27   415.14   145. 77
 Opening  493.54   340.64   154.14    34.35   417.55   146. 49
 11 a.m.  493.85   340.59   154.20    34.34   417.76   146.39
 Noon     489.43   337.61   153.50    34.02   414.22   145.67
 1 p.m.   489.17   338.12   153.55    33.91   413.96   145.11
 2 p.m.   490.47   338.11   153.65    34.08   415.03   145.61
 3 p.m.   489.84   337.91   153.66    33.98   414.51   145.46
 Close    492.72   341.16   155.16    34.10   417.09   146.59
 Change  up 2.29  up 3.89  up 1.66 off 0.17  up 1.95  up 0.82
-30- 1064
U.S. GOV'T SAYS MEDICARE WILL COVER MORE PROCEDURES ON OUT-PATIENT BASIS
12/31/91
91365u1236  United Press International
WASHINGTON (DEC. 31) UPI - The government Tuesday added 900 medical
procedures performed by hospitals to the list of procedures that will be
covered by Medicare on an out-patient basis.
"Ambulatory surgical centers are appropriate settings for nearly 900
additional medical procedures that will be covered by Medicare," the
Department of Health and Human Services said in a statement.
Partial removal of a woman's breast, closing certain wounds and removing small
growths on a person's trunk, arm or leg are among the procedures now
considered suitable for out-patient surgery, a spokesman said.
Although Medicare now will cover some 2,300 procedures performed in
out-patient surgical centers, "the choice of the operating site remains a
matter for the professional judgment of the patient's physician," the
spokesman said.
"We recognize that for certain medical conditions, a procedure may safely be
performed only on an in-patient basis. (The rules allow) for exceptions
because of a certain patient's conditions," he said.
The government also announced that ambulatory surgical centers would receive
increases of 5.1 percent in their Medicare payments for approved services.
Such payments cover the costs for nursing, supplies and equipment, as well as
for use of the operating facility.
Ambulatory surgical centers provide surgical facilities and services to
patients who do not require hospitalization.
Medicare is a joint federal-state program which provides medical care to the
aged and needy. Officials responsible for developing the list were unavailable
for comment.
-30- 1912
AMERICAN PETROLEUM INSTITUTE: SUPPLIES OF HOME-HEATING OIL, GASOLINE RISE
12/31/91
91365u1213  United Press International
NEW YORK (DEC. 31) UPI - The nation's supplies of home-heating oil and
gasoline rose slightly last week, but crude inventories dipped, the American
Petroleum Institute said Tuesday.
In the week ended Dec. 27, U.S. supplies of distillate, used primarily for
home-heating oil and diesel fuel, increased to 142.9 million barrels last week
from 140.8 million barrels the week before, but were above the 130.1 million
barrels in storage in the same week last year.
Distillate production rose to 3.2 million barrels a day from 3.1 million
barrels daily the previous week, but were above year-ago output of 2.9 million
barrels a day.
Distillate imports rose to 321,000 barrels a day from 258,000 barrels a day in
the prior week and were 298,000 barrels a day imported in the corresponding
1990 week.
Gasoline stocks inched up to 216.3 million barrels from 214.8 million barrels
the week before, but were below year-ago levels of 223.6 million barrels on
hand a year ago.
Gasoline production dipped to 7.3 million barrels a day from 7.4 million
barrels a day produced last week, and in the year-ago period production was
6.8.
Gasoline imports dipped sharply to 161,000 barrels a day from 223,000 barrels
a day in the preceding week, and 316,000 barrels a day in the same week last
year.
Crude inventories plunged to 325.5 million barrels from 335.8 million barrels
in the prior week, and year-ago levels of 327.9 million barrels in storage.
U.S. refineries operated at 87 percent of capacity, down from 87.1 percent a
week ago and up from 84.3 percent recorded in the corresponding week of 1990.
Crude oil imports declined to 5 million barrels a day from 5.4 million barrels
a day in the previous week. They were above the year-ago rate of 4.4 million
barrels a day.
Imports of petroleum products were even with last week at 1.9 million barrels
a day and 2.1 million barrels a day reaching U.S. shores a year ago.
-30- 2351
CHINA TO SELL NUCLEAR POWER PLANT TO PAKISTAN
12/31/91
91365u1182  United Press International
BEIJING (DEC. 31) UPI - China, under criticism for selling nuclear technology
to other nations, agreed Tuesday to sell Pakistan a nuclear power plant but
said the deal would be submitted to international proliferation safeguards.
The announcement came two days after China's Parliament authorized the
government to sign the Nuclear Nonproliferation Treaty, which bans the spread
of nuclear weapons. But China is alleged to have earlier helped Pakistan
develop nuclear arms.
The official Xinhua news agency reported the nuclear plant deal was signed in
a ceremony in Beijing by Jiang Xinxiong, general manager of the China National
Nuclear Corp., and Ishfaq Ahmed, chairman of the Pakistan Atomic Energy
Commission.
Under the plan, agreed to in principle in 1989, China will sell Pakistan a
300-megawatt nuclear power plant, Xinhua reported. The purchase price was not
immediately disclosed.
"It is totally for peaceful purposes," said Chinese Premier Li Peng, who
attended the signing ceremony.
Li added, "The two sides have agreed that the project will be secured by the
International Atomic Energy Agency," Xinhua reported.
The commitment to submit the project to IAEA safeguards was clearly designed
to deflect new criticism from the United States and Western governments over
China's sale of nuclear technology to other nations, which also include
Algeria, Iran and Iraq.
Western governments maintain that China, an ally of Pakistan, had earlier
provided crucial assistance for Pakistan's development of nuclear weapons
capability, apparently to counter that of India, a longtime adversary of
Beijing and Islamabad.
In Islamabad, a spokesman for the Pakistani Foreign Office said China's
nuclear cooperation with Pakistan is exclusively for peaceful purposes and
repeated the Chinese promise that "the Chinese nuclear power reactor will be
placed under IAEA control."
He said Pakistan faces a serious shortage of electric power and that the
government is depending on nuclear energy to alleviate the problem.
With Chinese assistance, U.S. intelligence agencies have said, Pakistan has
already developed a workable nuclear weapon. The Pakistani government has
denied this, acknowledging only it possesses the technology.
Sunday, the ruling body of the National People's Congress, China's nominal
legislature, authorized the Beijing government to sign the Nuclear
Nonproliferation Treaty, the major international convention that bans the
spread of nuclear weapons and limits transfers of nuclear material.
China is the only acknowledged nuclear-armed nation not to have signed the
1968 treaty, which has been joined by 140 countries.
The Chinese have in recent months attempted to allay Western fears by being
more open about their nuclear deals, disclosing the sale of research reactors
to Syria and Iran.
But the government, despite evidence to the contrary, has steadfastly denied
any of its nuclear cooperation agreements involved weapons development.
-30- 3522
COMBINATION THERAPY WITH AZT SHOWS PROMISE IN TREATING AIDS PATIENTS
12/31/91
91365u1166  United Press International
WASHINGTON (DEC. 31) UPI - The anti-AIDS drug AZT combined with an
experimental compound known as ddC boosts the number of key immune system
cells in persons with AIDS, a preliminary study indicated Tuesday.
Researchers cautioned that the study involved only 56 patients and must be
confirmed in trials on a larger scale.
University of Miami and University of California, San Diego researchers
followed the patients from July 1989 to May 1990 to monitor their responses to
varying doses of ddC in combination with AZT.
The researchers found that the combinations of AZT, the first drug shown to be
effective against AIDS, and ddC increased the number of T-cells carrying a key
protein, cells which are crucial to the immune response.
The cell count responded to a higher level for a longer period of time than
previously shown with either AZT or ddC by itself when taken by persons with
AIDS, the researchers reported in the Annals of Internal Medicine.
"The data presented are too preliminary to make a final conclusion about the
toxicities of the two drugs or to recommend treatment using a combination
regimen of ddC and AZT," said Dr. Anthony Fauci, who heads the government's
AIDS research program. A trial involving more than 1,000 patients has begun to
further test ddC.
A variety of studies are underway to determine whether the benefits of AZT
could be enhanced by combining it with other medications. Other drugs in such
studies include acyclovir, which is a herpes drug, and ddI, an anti-viral
medication already approved for use against AIDS.
An application for government approval of ddC is pending before the Food and
Drug Administration. The drug is manufactured by by Hoffman- LaRoche of Nutley
 N.J.
In the new study, patients in six groups were given various doses of AZT. One
group received only AZT, while the other five groups received doses of ddC.
Those receiving ddC had a slower decline in their immune cell counts, the
researchers reported.
The study was sponsored by the National Institute of Allergy and Infectious
Diseases.
-30- 2628
MARKETS AT A GLANCE -  4 P.M.
12/31/91
91365u1158  United Press International
(DEC. 31) UPI - MARKETS AT A GLANCE
 By United Press International
NYSE Stocks - Higher in active trading.
Bonds - Higher.
American Stocks - Higher in moderate trading.
London Stocks - Closed sharply higher in moderate trading.
German Stocks - Closed for the holidays.
Tokyo Stocks - Closed for the holidays.
Dollar - Mixed against key foreign currencies.
Gold Futures - Higher.
Cotton - Lower.
Chicago Grain Futures - Corn closed off 1/4 to up 1/4, soybeans up 1 3/4 to 4,
wheat up 1/2 to 7 and oats up 3/4 to 1 1/4.
Cattle trade - Sales insufficient to establish a market trend.
-30- 1024
WORLD NEWS SUMMARY AT 1:50 P.M.
12/31/91
91365u1156  United Press International
(DEC. 31) UPI - ''Stalled.'' That's how one analyst described the economy
after the government released its latest Index of Leading Economic Indicators
today. New figures show that the index fell three-tenths of a percent in
November... the fourth poor showing in a row. The government said declines
occurred in seven of 11 indicators... including consumer confidence... stock
prices and UNemployment.
Starting tomorrow... the old East German communist secret police will throw
its records open to the public. Individuals will be able to read their own
personal files... but may be on a waiting list for months... because the
police kept records on as many as one citizen in eight. Disclosures in the
files could prove explosive... as Germans find out which colleagues...
neighbors... or even family informed on them. Two weeks ago... a leading
dissident found out her own husband had been supplying information on her.
South African President F-W De Klerk is vowing that all South Africans will
soon have first class citizenship. In a New Year's Day message to the
racially-troubled nation... De Klerk also promised to fight political
violence... which claimed the lives of some 25-HUNDRED blacks in 1991. De
Klerk also reaffirmed his determination to transfer political power from South
Africa's white minority to its black majority.
Former Zambian President Kenneth Kaunda... who ran his country for 27 years
until an election defeat this year... plans to retire from political life next
month. The 67-year-old Kaunda became president of Zambia after the southern
African country won its independence from Britain in 1964. He was a fierce
propoponent of African socialism and the one-party state. But after allowing
multi-party elections in Zambia for the first time since 1972... Kaunda was
defeated. Kaunda says he would like to devote his time now to research work...
the study of global peace... and health issues related to Zambia.
Scotchgard fabric protector is being blamed for the death of an Illinois
teenager. Authorities in the town of Fox Lake say the 13-year- old boy
collapsed after sniffing fumes from a can of Scotchgard. Seven other teens who
also sniffed the product have been hospitalized as a precaution. Authorities
say they have heard of youths inhaling other substances to get ''high''... but
never Scotchgard.
Texas is bracing for more heavy rains and floods. Fire ants swarmed out of
their soaked mounds today... while ranchers herded hundreds of cattle to
higher ground in anticipation of more rain. The National Weather Service is
predicting a 50 percent chance of showers or thunderstorms on today... with
increased chances tomorrow. Flooding so far has has been worst on the
Guadalupe, Brazos, Colorado, and Trinity rivers, which all flow south across
Texas to the Gulf of Mexico. At least 15 people have died in the flooding...
which began about two weeks ago.
-30- 3208
AAA REPORTS U.S. GASOLINE PRICES DOWN, BUT HIGHER IN SOUTHEAST
12/31/91
91365u1136  United Press International
ORLANDO, FL (DEC. 31) UPI - The nationwide average price of self-serve
regular unleaded gasoline declined for the sixth consecutive week, down 4.3
cents per gallon since Nov. 19, the American Automobile Association reported
Tuesday.
AAA said, however, that average pump prices are higher in the Southeast. The
prices are unchanged in the Mid-Atlantic and lower in other regions.
AAA's Fuel Gauge Report showed the nationwide average price of self- serve
regular unleaded gasoline is $1.10 per gallon this week. That's a decrease of
.8 cent per gallon since Christmas Eve.
The nationwide average price of self-serve regular leaded gasoline fell 4
cents this week to $1.07 per gallon. The self-serve mid-grade unleaded average
is unchanged at $1.203 per gallon, and the self-serve premium average fell .5
cent to $1.284.
AAA's Fuel Gauge Report, based on a nationwide spot check of gasoline stations
 was conducted for AAA by Computer Petroleum Corp. of St. Paul, Minn.
-30- 1371
CHEMICAL BANK, MANUFACTURERS HANOVER OFFICIALLY COMPLETE MERGER
12/31/91
91365u1092  United Press International
NEW YORK (DEC. 31) UPI - Chemical Banking Corporation officially merged
Tuesday with Manufacturers Hanover Corp., creating what is for now the
second-largest U.S. bank holding company.
It's the largest American banking merger so far, and creates a new giant with
estimated total assets of nearly $140 billion - second among U.S. banks only
to Citicorp, whose assets total over $224 billion.
But Chemical Bank, as the newly merged company will be called, is not expected
to hold that spot for long. The previous No. 2, San Francisco- based
BankAmerica Corp., is in the process of merging with No.5, Security Pacific
Corp., of Los Angeles. When that officially occurs, BankAmerica will again be
second, with Chemical third.
Prior to the merger, Chemical ranked sixth, with total assets of $73.7 billion
as of Sept. 30. Manufacturers Hanover was eighth, with $65.6 billion.
The merger marks the end of an era for ''Manny Hanny,'' which traces its
heritage back to the 1850s, when The Manufacturers Trust Co. was started in
the then-independent city of Brooklyn, shortly after The Hanover Bank had
opened for business across the East River in Manhattan. The two merged in 1961.
Manufacturers Hanover will cease to exist as an independent corporate entity,
with Chemical technically buying it out in an all-stock deal. Stockholders
will receive 1.14 shares of Chemical stock for each Manufacturers Hanover
share.
But Manny Hanny's influence will still be felt. For one thing, its chairman
and chief executive officer, John F. McGillicuddy, will assume the top spot at
the newly merged bank, with Chemical CEO Walter Shipley becoming president and
chief operating officer.
The company's new logo will combine the Chemical name and diagonally striped
Manufacturers Hanover corporate symbol. Chemical will move its headquarters
from leased offices at 270 Park Avenue in Manhattan, across the street to
Manny Hanny's company-owned building.
The prospect of saving millions of dollars in office leasing costs was a key
factor behind the decision of the two banks to merge. They also expect to
generate other savings by eliminating duplicate corporate structures and
overlapping branches.
Banking analyst James Hanbury of Wertheim Shroder & Co. Inc. said both have
had problems in the recent past, suffering like many large banks from weak
earnings and bad international and real estate loans.
''The reason to do the merger is to try to deal with the problems by
developing a new income stream from savings, as you eliminate overlapping
costs of two banks operating in the same marketplace,'' he said. ''They
estimate $650 million in savings by 1994 - an income stream that either bank,
by itself, did not have.''
Chemical announced Tuesday it was raising both its estimate of annual
cost-savings expected from the merger and its one-time earnings charge
covering the expenses of restructuring connected with the merger.
Chemical raised the earnings charge to $625 million from $550 million. The
charge will be reflected in 1991's fourth-quarter results.
It also raised to $750 milllion the estimated annual cost-savings it would
reap, from $650 million previously. Chemical said the new estimate reflects
additional opportunities for savings in occupanc, technology and other
corporate-wide expenses identified during the merger transition process.
Hanbury said Chemical plans to use the promise of those savings to help it
recapitalize by $1.25 billion through the sale of new stock. Other savings are
expected from the elimination of 6,200 jobs by the two banks, which together
have a combined work force of 45,000.
Since the merger plan was announced July 15, a spokesman for the former
Manufacturers Hanover said about 1,100 employees have left - by attrition,
retirement and, in some cases, layoffs. Those job cuts have been about evenly
split between the two companies, and future job cuts are likewise expected to
be evenly distributed. He said there definitely will be more layoffs.
''If they do what they say they're going to do'' to generate savings, Hanbury
said, ''they would have lower costs, higher earnings and, in turn, higher
capital. They will be more competitive.''
He saw the new combined bank as being in a position ''certainly to own
middle-market banking'' in New York, in terms of providing lending and
cash-management services to small and medium-sized businesses. Both the
pre-merger Chemical and Manny Hanny have traditionally been very strong in
this area, and a Chemical spokesman said the new bank expects ''to be doing
business with over 50 percent of such businesses in the nine-county New York
metropolitan area.''
-30- 5239
NATIONAL SAFE WORKPLACE INSTITUTE SAYS U.S. WORKER SAFETY RECORD IS LACKING
12/31/91
91365u1063  United Press International
CHICAGO (DEC. 31) UPI - California does the most to safeguard workers's
health and safety and Arkansas does the least, but the National Safe Workplace
Institute said Tuesday no state comes close to having what it would regard as
a model program.
"State government has an important - but largely unrecognized - role in
promoting safer and healthier workplaces," the study said.
The Institute examined three aspects of state involvement in workplace health
and safety: enforcement, prevention and compensation of workers killed and
injured or who otherwise suffer occupational diseases.
"The scores ranged from a low of 11 for Arkansas to a high of 81 for
California," the study reported.
"The factors examined had a potential (score) of 116 points, suggesting that
no state has a 'model' job health strategy," it noted.
Institute Executive Director Joseph A. Kinney said it was "extremely
interesting to us that we found such a wide range between states."
"This report is the most comprehensive examination of workplace safety and
health issues ever undertaken in the United States and most certainly the
first in-depth look at ... policies on a state-by-state basis," Kinney said.
"Without a doubt there is no single source that has attempted the analysis
we've done in this document."
The study found only six states that scored 70 points or better in the
116-point rating system, which awarded a maximum of 50 points for preventive
policies, up to 24 for enforcement and a maximum of 41 for workers'
compensation.
California was tops at 81, followed by New Jersey at 80, Illinois and New York
at 76, Massachusetts at 73 and Texas at 72.
Fifteen states scored fewer than 30 points: Montana at 28; Nebraska 27; South
Carolina, Idaho and Utah at 26; Alabama, Mississippi, South Dakota and Hawaii
all at 25; Tennessee at 24; North Dakota at 21; Kansas at 15; New Mexico at
14; Wyoming 12 and, at the bottom, Arkansas with 11.
In the middle were Maine, 67; Connecticut 65; Minnesota 64; Michigan 63;
Oregon 62; Virginia 60; Alaska and Rhode Island 59; Wisconsin 58; New
Hampshire 56, Pennsylvania, Ohio and Washington 55; Iowa 54; Oklahoma 53;
Colorado 52; Florida 48; North Carolina, West Virginia and Indiana 47;
Maryland 46, Missouri 42, Arizona and Delaware 40; Vermont 38; Georgia 36;
Kentucky 32; Louisiana 31 and Nevada 30.
The Institute noted that federal spending on workplace health and safety -
relative to overall federal budget growth - declined 34.5 percent from fiscal
1981 to fiscal 1991, making state efforts even more essential.
"Workplace safety and health is, by any measure, a large problem in the United
States," the study concluded.
The study noted that, while specific data is not yet available, on-the-job
fatalities appear to have declined in recent years, though the United States
would still appear to have a higher fatality rate per million man-hours worked
than other industrialized countries.
And it said on-the-job injuries appear to be on the rise - though it could
provide no recent figures.
"Our lost workday rates have increased from 47.9 in 1972 to 84 in 1990," the
study noted. "This information suggests that occupational injury and illness
impose a huge burden on workers, their families and society."
It cited a Rand Corp. report indicating workplace injuries and illnesses cost
U.S. society some $83 billion a year.
-30- 3880
DOORKNOBS MYSTERIOUSLY ATTACHED TO NEW YORK CITY TREES, KEEBLER ELVES AT WORK?
12/31/91
91365u1047  United Press International
CEDAR RAPIDS, IA (DEC. 31) UPI - Fifteen trees in a city park have been
fitted out mysteriously with doorknobs and police are coming unhinged trying
to figure out why.
The used doorknobs were carefully attached, along with their locking
mechanisms, apparently sometime Monday night or Tuesday morning, said Sgt.
Steve Feldmann.
''People walk their dogs in this park and someone called this morning and told
us about it,'' Feldmann said.
He said a white ribbon was tied to each of the trees about seven feet off the
ground. And, on each, about three feet off the ground, doorknobs were
installed on opposite sides, as if to suggest a stroller could open a door on
one side, walk through, and exit through a door on the other.
Police checked with experts on the occult and satanism but were told there is
no known mystic symbolism involving doorknobs. As a result, they are
considering the event a prank or an artistic statement unless, as one police
officer speculated, ''It's an ambitious squirrel.''
Since the trees are owned by the city, the event is being investigated as a
case of criminal mischief, Feldmann said. He said city workers will remove the
doorknobs ''and plug the trees so all the sap doesn't run out.''
-30- 1555
ALABAMA ORDERED TO REMOVE ALL TRACES OF RACIAL DISCRIMINATION IN COLLEGES
12/31/91
91365u1043  United Press International
MONTGOMERY, AL (DEC. 31) UPI - Gov. Guy Hunt said Tuesday it would be
premature to decide now whether to appeal a federal judge's order requiring
Alabama to remove all traces of racial discrimination in its public colleges.
Terry Abbott, a spokesman for Hunt, noted that the U.S. Supreme Court is
considering a similar case with a ruling that went in favor of Mississippi and
Louisiana's higher education systems.
On Monday, U.S. District Judge Harold Murphy issued a permanent injunction
ordering that the formula for funding higher education be changed to help the
state's two mostly black public colleges, Alabama A&M University in Huntsville
and Alabama State University in Montgomery.
Murphy's order calls for $10 million worth of building improvements at each
school.
Murphy also ordered several predominantly white schools to do more to attract
black students, faculty members and administrators.
The Rome, Ga., jurist, brought in to hear the long-running case, presided over
a six-month trial that ended April 16, the second lengthy trial of a
desegregation lawsuit filed in 1983.
''This court is obligated to see that vestiges of discrimination are
eliminated root and branch, and it will brook nothing less,'' Murphy wrote in
his 1,000-page ruling. ''This is a final opportunity for the State of Alabama
and its colleges and universities to regain a measure of control over the
system of higher education.''
The order calls for major steps to be taken to increase white enrollment at
mainly black schools and black enrollment at mainly white schools.
According to the suit, in 1990, 3,763 of Alabama A&M's 4,886 students were
black and 4,469 of Alabama State's 4,587 students were black. The black
enrollment at Auburn was 847 in a student body of 21,537 and at the University
of Alabama it was 1,762 in a student body of 19,794.
Murphy's order calls for better facilities at Alabama State and Alabama A&M
and an end to program duplications, especially in business and education, at
the two schools and their mostly white neighbor institutions.
Already on appeal to the Supreme Court is a ruling by the Fifth U.S. Circuit
Court of Appeals in New Orleans that says state universities cannot be found
racially discriminatory as long as there are no racial barriers or impediments
to a student's freedom to choose a college. A final ruling is still to come in
that case.
-30- 2856
U.S. RESEARCHERS SAY MIGRAINE HEADACHES HIT ONE OF EVERY 11 AMERICANS
12/31/91
91365u1034  United Press International
WASHINGTON (DEC. 31) UPI - Migraine headaches afflict more than 23 million
Americans and are more prevalent among low-income persons and those between 35
and 40 years old, researchers said Tuesday.
Based on a scientific survey of 20,468 persons in the United States,
researchers estimated that 18 million women and 5.6 million men experience
severe migraines. Migraines were 60 percent more prevalent among persons with
incomes below $10,000 a year, compared with those earning more than $45,000
annually.
''Diet, stress and other factors associated with low income may precipitate
migraine attacks. Alternatively, access to good health care may decrease the
duration of the illness and therefore the prevalence among higher income
groups,'' said the researchers, whose findings were published in the Journal
of the American Medical Association.
The researchers also said migraines could cause incomes to drop.
''Headache-related disability may seriously disrupt function at work or
school'' and difficulty on the job ''may exacerbate the migraine condition,
creating a downward spiral,'' they said.
Migraines are painful and often disabling headaches due to the tightening-up
and swelling of blood vessels and caused by a chemical imbalance in the brain.
Throbbing, pain on only one side of the head and unusual sensitivity to
environmental factors such as light, noise or smells are some of the symptoms.
''This finding debunks the popularly held belief that (the) migraine is an
ailment of the rich,'' said study co-author Walter Stewart of The Johns
Hopkins School of Public Health in Baltimore. However, the findings confirmed
that more women than men suffer from the condition.
''Hormonal factors may play a role in the sex differences we found but they
are not likely to be the only factors,'' said Dr. Richard Lipton, a
neurologist at the Albert Einstein College of Medicine in New York and
co-author of the study. ''The sex difference peaks at the age of menopause but
even after age 65, women still get migraines two-and-a- half times more often
than men.''
-30- 2578
AGRICULTURE SEC'Y MADIGAN SAYS NEW USE FOR GRAIN WOULD HELP AMERICAN FARMERS
12/31/91
91365u1025  United Press International
WASHINGTON (DEC. 31) UPI - American farmers must develop alternative
high-tech uses for grains if they hope to thrive in the world market, said
Agriculture Secretary Edward Madigan in his year-end radio address Tuesday.
During a telephone news conference with reporters from around the country,
Madigan predicted that more American farmers will profit during the 1990's if
they harvest alternative sources for grains.
He said, for example, that farmers could profit by using grains to produce
bio-degradable plastics.
Madigan vowed to make the search for alternative uses his top priority in 1992
 saying, ''Staying on the cutting edge of that is very important to American
agriculture.''
With President Bush on a 11-day trade mission to Asia, Madigan stressed that
the USDA will continue to reduce foreign trade barriers to American products.
However, he downplayed Bush's decision not to take a representative from the
American rice industry to Asia. Bush was accompanied by leaders from other
industries, including the nation's three major auto manufacturers.
American rice farmers have long been denied access to the huge Japanese market
 which is strongly protected by the government. Japan's posture on
agricultural trade has fueled the current friction between Washington and
Tokyo.
Some trade analysts have said that Bush has soft peddled the rice issue,
setting his sights on other U.S.-Japanese trade conflicts. Madigan disagreed,
saying a plan is under review by the USDA intended to open at least a fraction
of the Japanese market to American growers.
A three-to-five percent increase in U.S. rice sales to Japan would yield major
American profits, Madigan said.
Madigan said he will work with the Congress in 1992 to remove what he called
''rigidity'' from the current federal target-price and loan rate structure for
farmers.
He said the system, adopted in the early 1970's, is being copied by other
nations.
In other matters, Magigan said it is unlikely that the United States will
trade grain for oil with the Commonwealth of Independent States. He said U.S.
companies have been willing to participate in a barter exchange because
thetransactions are inefficient.
Madigan said the former Soviets would benefit more by selling their oil for
hard currency and using the profits to buy grain or other products.
-30- 2696
COURT UPHOLDS ILLINOIS USE TAX ON GTE AIRFONE TELEPHONE SYSTEM
12/31/91
91365u0990  United Press International
CHICAGO (DEC. 31) UPI - A Cook County judge has upheld the validity of
Illinois' use tax in the case of GTE Airfone Inc., the attorney general's
office said Tuesday.
Circuit Judge Alexander P. White has rejected arguments that the telephone
systems, which are installed in many of the nation's airliners, are not
subject to the use tax, which is a variant on the sales tax.
"This is an important victory for the Department of Revenue," Attorney General
Roland Burris said. "It not only provides a major contribution to the state
treasury, but it upholds the validity of the state's use tax."
The court rejected GTE's request for summary judgment and said the state is
entitled to nearly $5.3 million that has been held in a protest fund since
1988.
The judge, in a 47-page ruling, rejected GTE assertions it did not have to pay
use tax on the sale price of the telephones it sold to airlines because most
components were purchased from out-of-state vendors and because the aircraft
are interstate carriers.
Airfone Inc., which pioneered air-to-ground telephone service more than a
decade ago, was purchased by GTE in 1986 and renamed GTA Airfone Inc., with
headquarters in Oak Brook.
GTE spokeswoman Dorea Akers, speaking from Stamford, Ct., said it was possible
the company would appeal the ruling but declined to discuss the case.
-30- 1658
U.S. LEADING ECONOMIC INDICATORS
12/31/91
91365u0963  United Press International
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
''The indicators show the economy is still struggling quite a bit,'' said Jean
Sundrla of Evans Economics in Washington.
''A drop in consumer confidence was the trigger. People are worried about
their jobs and increasing their debt. It's something that will take a while to
come around.''
The November decline in the Index of Leading Economic Indicators followed an
unrevised increase of 0.1 percent in October, a revised fall of 0.2 percent in
September and no change in August.
The index had risen steadily from January through July but remained flat since
last summer. Analysts had expected a drop of 0.4 percent in November.
The various changes left the index of leading economic indicators at 145.1
percent of its 1982 base of 100. The index was up 2.5 percent for 1991.
Jack Albertine, who heads an economic forecasting firm in Washington, said the
report shows the ''economy is fundamentally stalled.
''Its a situation where the economy has not fallen off a cliff, but its not
going anywhere fast either,'' he added.
He said the most telling statistics were declines in the money supply and
consumer confidence.
Lawrence Hunter, acting chief economist for the U.S. Chamber of Commerce, said
the economy shows no signs of improving for at least several months.
The Commerce Department report included a companion index of coincident
indicators, a monthly approximation of current economic activity, which fell
0.8 percent.
The coincident indicators fell 0.2 percent in October after falling a revised
0.2 percent in September and declining 0.2 percent in August.
Sales of new single-family homes were unchanged in November but analysts said
falling mortgage rates and home prices should lift market values in 1992.
Samuel Kahan, chief economist for Fuji Securities Inc., said that despite the
lack of activity in November, he was encouraged that new home sales were up
8.3 percent over November 1990.
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
New home sales nationwide were at a seasonally adjusted annual rate of 520,000
in November, the same as the upwardly revised October rate, the Commerce
Department said. The November level was 8.3 percent higher than the November
1990 level of 480,000 new homes sold.
Mortgage rates have been falling for several months and last week were the
lowest in 18 years. The Federal Home Loan Mortgage Corp. said the average rate
on 30-year mortgages fell to 8.35 percent last week, the lowest since Aug. 3,
1973, when the national average was fixed at 8. 26 percent.
The home sales report said the median price of a new home fell to $117,400
from an upwardly revised $125,000 in October. The median means half of the
homes cost more and half less. The November median price is the lowest since
May when it was $116,000.
The average price of a home was $141,100, down from an unrevised $149,000 in
October. Homesales by region:
- Northeast, down 44.6 percent to a seasonally adjusted rate of 36,000
  after rising 4.8 percent in October.
- Midwest, down 8.8 percent to a 96,000 rate after rising 9.4 percent in
  October.
- West, up 14.1 percent to a 146,000 rate after falling 7.9 percent.
- South, up 9 percent to a 242,000 rate after rising 8.8 percent.
The Commerce Department earlier this month reported new home construction fell
2.1 percent in November. Analysts have said the housing construction market in
1991 is shaping up as the weakest since World War II.
-30- 4731
U.S. ECONOMIC INDEX FALLS 0.3 PERCENT FOR NOVEMBER; FOURTH MONTHLY DECLINE
12/31/91
91365u0956  United Press International
WASHINGTON (DEC. 31) UPI - The government said Tuesday it's main economic
forecasting index declined 0.3 percent in November, the fourth straight month
of virtual stagnation, while new home sales also failed to show any
improvement.
Seven of the 11 areas of the economy tracked by the Commerce Department showed
declines, including consumer confidence, which analysts said is key to
economic recovery. Consumer spending accounts for about two-thirds of the
nation's economic activity.
"The indicators show the economy is still struggling quite a bit," said Jean
Sundrla of Evans Economics in Washington.
"A drop in consumer confidence was the trigger. People are worried about their
jobs and increasing their debt. It's something that will take a while to come
around."
The November decline in the Index of Leading Economic Indicators followed an
unrevised increase of 0.1 percent in October, a revised fall of 0.2 percent in
September and no change in August.
The index had risen steadily from January through July but has flattened since
then. Analysts had expected a drop of 0.4 percent in November.
The various changes left the index of leading economic indicators at 145.1
percent of its 1982 base of 100. The index was up 2.5 percent for 1991.
Jack Albertine, who heads an economic forecasting firm in Washington, said the
report shows the "economy is fundamentally stalled." "Its a situation where
the economy has not fallen off a cliff, but its not going anywhere fast
either."
He said the most telling statistics were declines in the money supply and
consumer confidence. "We have a situation where the money supply is flat. The
Fed is responsible for replacing the reserves in banks, but it has not.
Lawrence Hunter, acting chief economist for the U.S. Chamber of Commerce, said
the economy shows no signs of improving for at least several months.
The Commerce Department report included a companion index of coincident
indicators, a monthly approximation of current economic activity, which fell
0.8 percent.
The coincident indicators fell 0.2 percent in October after falling a revised
0.2 percent in September and declining 0.2 percent in August.
Sales of new single-family homes were unchanged in November, but analysts said
falling mortgage rates and home prices should cause the market to pick up in
1992.
Samuel Kahan, chief economist for Fuji Securities Inc., said despite the lack
of activity in November, he was encouraged new home sales were up 8.3 percent
over November 1990.
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
New home sales nationwide were at a seasonally adjusted annual rate of 520,000
in November, the same as the upwardly revised October rate, the Commerce
Department said. The November level was 8.3 percent higher than the November
1990 level of 480,000 new homes sold.
Mortgage rates have been falling for several months and last week were the
lowest in 18 years. The Federal Home Loan Mortgage Corp. said the average rate
on 30-year mortgages fell to 8.35 percent last week, the lowest since Aug. 3,
1973, when the national average was fixed at 8.26 percent.
The home sales report said the median price of a new home fell to $117,400
from an upwardly revised $125,000 in October. The median means half of the
homes cost more and half less. The November median price is the lowest since
May, when it was $116,000.
The average price of a home was $141,100, down from an unrevised $149,000 in
October. Homesales by regions:
- Northeast, down 44.6 percent, to a seasonally adjusted rate of 36,000
  after rising 4.8 percent in October.
- Midwest, down 8.8 percent to a 96,000 rate, after rising 9.4 percent in
  October.
- West, up 14.1 percent, to a 146,000 rate, after falling 7.9 percent.
- South, up 9 percent, to a 242,000 rate, after rising 8.8 percent.
The Commerce Department earlier this month reported new home construction fell
2.1 percent in November. Analysts have said the housing construction market in
1991 is shaping up as the weakest since World War II.
-30- 4804
STERLING OPTICAL CORP. FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION
12/31/91
91365u0948  United Press International
HACKENSACK, NJ (DEC. 31) UPI - Sterling Optical Corp. said Tuesday it filed
for bankruptcy protection from its creditors as part of an agreement for the
sale of its eyeglass stores to American Vision Centers Inc.
Sterling filed the Chapter 11 bankruptcy petition in the Southern District of
New York.
The optical chain said it entered into an agreement with an affiliate of
American Vision Centers Inc. for the sale of its optical stores but would not
disclose a price tag. The sale is subject to the approval of the bankruptcy
Court.
Sterling operates stores nationwide and in Canada. It has approximately 200
owned and franchised stores and 11 licensed stores, said Amy Groveman, the
company's general counsel .
The sale to the American Vision affiliate will include all the stores in the
company's chain on the day of the closing of the sale, Groveman said.
''We hope to have the sale closed in the next 45 to 60 days, subject to court
approval,'' she added.
A source close to American Vision Centers confirmed the purchase agreement,
saying the company had agreed to buy most of the stores.
In a statement, Sterling Chief Executive Officer Robert Low said he regretted
the need for a bankruptcy filing but was pleased that the company had reached
an agreement with American Vision to allow the continuation of its Sterling
Optical chain operations.
Low said American Vision had agreed to provide certain financing that would
enable Sterling to continue to operate until the consummation of the proposed
deal.
Sterling also said that its directors William Hassett and Geroge Casabona had
resigned, and Casabona also resigned as chief financial officer due to medical
reasons.
-30- 2102
IKEA TO BUY STOR FURNISHINGS INTERNATIONAL INC. FOR MORE THAN $19 MILLION
12/31/91
91365u0913  United Press International
INDUSTRY, CA (DEC. 31) UPI - Swedish furniture retailer IKEA plans to buy
rival STOR Furnishings International Inc., hit by the economic downturn, for
more than $19 million in cash, STOR said Tuesday.
''The prolonged recession, with its negative effect on housing starts,
commercial real estate and retailers, created difficult problems for a company
like STOR, which was striving to expand its operations,'' said Richard F.
Clayton, STOR chairman and chief executive officer.
Both chains sell ready-to-assemble furniture and target budget- conscious
customers. The companies settled a lawsuit in 1989 in which IKEA accused STOR
of copying its retail concept, store layout and merchandise mix.
Tuesday's announcement by STOR, which operates four home furnishings stores
that closely resemble IKEA stores, comes amid a big slump in the business in
Southern California. Three of the STOR stores are in the Los Angeles area and
one is in Houston, generating annual sales volume of about $70 million.
Southern California furniture retailers have been hit particularly hard during
the recession, since their white-collar customers have been facing layoffs in
the key financial services and aerospace industries.
A number of the region's big names in furniture - W&J Sloane, RB Furniture,
Stylus, Barker Brothers and Angelus Furniture - have gone out of business in
recent years or are operating under bankruptcy protection.
STOR said it has signed a definitive merger agreement with IKEA Holding U.S.
Inc. calling for IKEA to pay $3.10 a share in cash for each outstanding share
of STOR common stock and nonvoting common stock. STOR has about 6.35 million
common shares.
STOR said the acquisition will be made through a tender offer that will begin
within five business days. It said the deal is contingent upon at least at
least 90 percent of the outstanding common stock and all of the outstanding
nonvoting common stock being tendered.
The merger agreement also provides for a payment of $5 million by either party
for choosing not to honor the terms of the deal.
IKEA has 100 locations in 25 countries, with sales last year of $3.8 billion.
It entered the U.S. market in 1985 and operates seven stores, including one it
opened last year in the Southern California suburb of Burbank. Sales at the
U.S. stores were $284 million last year.
-30- 2761
U.S. NEW HOME SALES UNCHANGED IN NOVEMBER
12/31/91
91365u0867  United Press International
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November, the government reported Tuesday, but analysts said falling mortgage
rates and home prices should cause the market to pick up in 1992.
The housing market has been hurt by weak consumer confidence in the economy,
analysts said. But the lowest mortgage rates in 18 years and the lowest median
home price since May should help overcome that, they said.
''We expect it will be better in early 1992,'' said Jean Sundrla, of Evans
Economics in Washington. ''The levels are very atractive. Now is the time to
buy a home if people are thinking aobut it. We don't think interest rates will
go any lower.''
Samuel Kahan, chief economist for Fuji Securities Inc., said despite the lack
of activity in November, he was encouraged new home sales were up 8.3 percent
over November 1990.
''If you look at it on a quarterly bases, you see an upwardly rising trend. We
don't expect the housing resurgence to be as robust as in past recessions, but
it is still headed up.''
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
New home sales nationwide were at a seasonally adjusted annual rate of 520,000
in November, the same as the upwardly revised October rate, the Commerce
Department said. The November level was 8.3 percent higher than the November
1990 level of 480,000 new homes sold.
Mortgage rates have been falling for several months and last week were the
lowest in 18 years. The Federal Home Loan Mortgage Corp. said the average rate
on 30-year mortgages fell to 8.35 percent last week, the lowest since Aug. 3,
1973, when the national average was 8.26 percent.
The home sales report said the median price of a new home fell to $117,400
from an upwardly revised $125,000 in October. The median means half of the
homes cost more and half less. The November median price is the lowest since
May when it was $116,000.
The average price of a home was $141,100, down from an unrevised $149,000 in
October.
Jack Albertine, who heads an economic forecasting firm in Washington, said the
overall economy won't revive until there is a recovery in home sales.
''There is a huge multiplier effect. Home sales spur the construction industry
 furnishings and other household goods. When you have an industry that is in
the doldrums, you won't get much of an economic recovery until that improves
'' Albertine said.
He said low interest rates should spur some home buying, but added it is
getting harder to qualify for a loan because of stricter terms by lenders.
The sluggish market also meant fewer owners were willing to put their homes up
for sale. The annual rate of 285,000 homes for sale in November was the lowest
since 282,000 in June 1983.
The new home sales report comes on the heels of a National Association of
Realtors report Monday that existing home sales for November were up 5.4
percent over October.
New home sales in November by region:
-Northeast, down 44.6 percent to a seasonally adjusted rate of 36,000 after
rising 4.8 percent in October.
-Midwest, down 8.8 percent to a 96,000 rate after rising 9.4 percent in
October.
-West, up 14.1 percent to a 146,000 rate after falling 7.9 percent.
-South, up 9 percent to a 242,000 rate after rising 8.8 percent.
The Commerce Department earlier this month reported new home construction fell
2.1 percent in November. Analysts have said the housing construction market in
1991 is shaping up as the weakest since World War II.
-30- 4147
LIST: CORPORATE EARNINGS
12/31/91
91365u0847  United Press International
(DEC. 31) UPI - Reading down: sales, earnings, earnings per share for latest
period vs. year earlier.
 SALES
 Net Income (per share)
 Latest Period            Year Earlier
 APL Corp (4th Q 9-30)
$23,640,000             $30,302,000
d-$10,446,000           $11,430,000 (3.06) d-Deficit.
 Circle Fine Art (4th Q 9-30)
$8,624,000              $12,846,000
d-$1,539,000            $395,000 (.16) d-Deficit.
 Great Country Bank (2nd Q 11-30)
....                    ....
d-$5,772,000            d-$12,515,000 d-Deficit.
 Intl Consumer (3rd Q 9-30)
$1,875,581              $7,207,945
d-$1,916,097            d-$961,644 d-Deficit.
 Journey's End (1st Q 10-31)
$9,700,000              $19,400,000
$1,004,000 (.10)        $2,090,000 (.21) Amounts in Canadian dollars.
 McClain Indus (4th Q 9-30)
$6,770,128              $8,191,078
$40,800 (.01)           $166,684 (.06)
Mechanical Tech (4th Q 9-30)
 $19,030,000              $18,028,000
d-$6,695,000            d-$494,000 d-Deficit.
 Russ Togs (3rd Q 11-2)
$71,301,000             $68,847,000
d-$4,791,000            d-$2,531,000 d-Deficit.
 Super Food Services (1st Q 11-23)
$440,616,587            $424,411,734
$2,478,146 (.23)        $3,400,860 (.32)
-30- 1832
WORLD NEWS SUMMARY AT 10:58 A.M.
12/31/91
91365u0845  United Press International
(DEC. 31) UPI - Patrick Buchanan is on... but David Duke is off Rhode
Island's March 10th Republican presidential primary ballot. Rhode Island's
secretary of state says she didN'T put Duke... a former Nazi and Klan
leader... on the ballot... because he failed to file a written request and his
national party has disavowed him. The Duke campaign says it WILL collect the
required 1-THOUSAND signatures to put Duke on the ballot. The American Civil
Liberties Union may also file suit on Duke's behalf.
The New England Patriots and a female sportswriter are reportedly close to
reaching settlement of a lawsuit she filed after three players allegedly
conducted what she calls - quote - ''a mind rape''... during a 1990 post-game
locker-room incident. Reporter Lisa Olson claims the players made sexual
remarks... and that one exposed himself... when she tried to conduct a
post-game interview. The Boston Globe today says Olson and the Patriots may
settle the suit out of court within a month.
There is some encouraging news today about the New York Daily News. Managers
of the tabloid say it has enough cash to operate in January and February. The
Daily News is one of the nation's largest circulation papers. It has been in
financial hot water since its owner... British media magnate Robert Maxwell...
died November 5th in a suspicious drowning. After a meeting with the paper's
creditors yesterday... Daily News executives said it had 8 MILLION dollars in
operating cash.
European Community have begun recognizing more former Soviet republics. The
E-C says its members are recognizing republics that give up nuclear weapons,
respect human rights and accept existing borders. Belgium has decided to
extend diplomatic relations to eight former Soviet republics. And Germany has
is recognizing nine. The 12 EC states, who have already recognized Russia...
say they welcome the assurances received from several republics promising to
fulfill the requirements of E-C recognition guidelines established earlier
this month.
-30- 2285
DELAWARE COURT AFFIRMS FINANCIER GIANCARLO PARRETTI'S OUSTER FROM MGM
12/31/91
91365u0837  United Press International
LOS ANGELES (DEC. 31) UPI - A Delaware judge has rejected claims by jailed
Italian financier Giancarlo Parretti for control of MGM-Pathe Communications,
13 months after he spent $1.3 billion to take over the studio, the company
said Tuesday.
Delaware Court Chancellor William Allen, in an 89-page opinion, upheld the
right of Paretti's main lender, Credit Lyonnais Bank Nederland, to remove
Parretti and two associates.
Parretti was arrested last Friday in Italy on tax evasion charges and remained
Tuesday in a jail in Sicily. The tax-evasion charges are unrelated to the
Delaware court case.
The bank, which lent Parettii up to $1 billion to buy the studio from Kirk
Kerkorian, ousted Parretti as an officer in April and then kicked him and his
associates off the board on June 16, alleging that he had mismanaged the
studio.
Although Parretti's holding company, Pathe Communications, owns 98 percent of
MGM-Pathe, the Allen decision affirms that Pathe has no voting power over the
studio.
Since Parretti took over the studio, it has registered only one hit film,
''Thelma and Louise,'' which grossed more than $40 million domestically. In
Allen's decision, he criticized Parretti for mismanaging the studio and
damaging the marketing effort for ''Thelma and Louise.''
Parretti was not immediately available for comment, but Pathe Communications
issued a statement saying that the decision does not affect Pathe's continued
ownership of the stock of MGM-Pathe, nor the holding company's business
interests.
''We are still reviewing the Chancellor's 89 page opinion resulting from the
six-week trial and haven't yet assessed its full affect on the company,'' said
Liliana Avincola, president of Pathe.
''We are extremely disappointed with the ruling in this unfortunate action,''
said Avincola.
Pathe said it will now focus on pursuing its lender liability action against
the bank in Los Angeles Superior Court. Pathe is seeking more than $1 billion
in damages, alleging a consistent pattern of bad faith in Credit Lyonnais
dealings with Pathe and Parretti.
-30- 2641
U.S. TREASURY DEPARTMENT TO SELL $20.4 BILLION IN SHORT-TERM BILLS
12/31/91
91365u0827  United Press International
WASHINGTON (DEC. 31) UPI - The Treasury Department said Tuesday it plans to
pay down about $1.225 billion on the Federal debt with the sale next Monday of
about $20.4 billion in short-term bills.
The sale amount is unchanged from $20.4 billion sold at Monday's weekly T-bill
auction, the Treasury said.
The offering will be divided evenly between 13-week and 26-week bills, which
will be dated Jan. 9 and will mature April 9 and July 9, 1992.
Yields rose at Monday's regular weekly auction. The 13-week bills rose to an
average 3.91 percent, up from 3.75 percent, while yields on 26-week bills rose
to 3.91 percent, from 3.85 percent.
The Treasury also announced plans to raise $4.2 billion in fresh cash next
Wednesday, Jan. 8, with the sale of $9.5 billion in new seven-year notes.
-30- 1135
TEXAS POLICE SAY TEEN ARRESTED FOR FIRING RIFLE KEPT MASS-MURDER DIARY
12/31/91
91365u0822  United Press International
HOUSTON (DEC. 31) UPI - A 16-year-old boy taken into custody for firing a
semiautomatic rifle kept a dairy that included plans to kill children and a
log on mass killings, police said Tuesday.
Officers Tuesday seized the boy's 300-page dairy, saying he might have carried
out his elaborate plans if they had not intervened.
A charge of reckless conduct will be referred to the Harris County Juvenile
Probation Division in an attempt to get the boy a psychological examination,
police said.
An officer responding to a call that shots were fired at an apartment complex
found a military-issue AK-47 rifle lying on a porch Monday afternoon.
Upon knocking on the apartment door, the officer was greeted by a youth
wearing camouflage fatigues. He explained to the officer that he had been
trying to shoot a child and would have shot more children had he not been
frightened by the noise from the weapon.
Police found no such child but confiscated the 30-shot rifle with 29 remaining
rounds.
The 10th-grader also shared about 300 pages of notes with the officers, said
Juvenile Sgt. Gerald McAnulty.
The handwritten pages were detailed, alternating from diary-style entries to
story form. Some pages feature diagrams, including those used to record an
elaborate plan to storm a playground and slaughter children.
The boy has a peculiar obsession with mass murders and was familiar with a
little-known police agency that tracks them, McAnulty said. He kept a dated
log entry for massacres in the United States, investigators said.
"He exhibits the makeup of people who are able to carry out the things he
describes," McAnulty said. "His notes are not random or general. They are in
great detail.
"It could be fictitious; it could be a fantasy. The kid is crying for help. I
think given more time, if these feelings were allowed to continue, he would
have carried out his plans," McAnulty said. "I think he's relieved. I think
this is what he wanted."
The boy's parents appeared concerned about the son's behavior during the past
several years but they have not seen a need for counseling for him, police
said.
-30- 2538
FIRE ANTS SWARM, RANCHERS RESCUE CATTLE AS TEXAS FLOODS CONTINUE
12/31/91
91365u0810  United Press International
(DEC. 31) UPI - Fire ants swarmed out of their soaked mounds and ranchers
herded hundreds of cattle to higher ground Tuesday as more rain was forecast
southwest of Houston where swollen rivers continue to flood low-lying areas.
The National Weather Service predicted a 50 percent chance of showers or
thunderstorms on New Years Eve and increased the chances to 60 percent
Wednesday as ranchers prepared for the possibility of more flooding.
Near the convergence of the swollen Guadalupe and San Antonio rivers, Goliad
County Agriculture Extension Agent Dennis Hale said cattlemen are more alert
to the flood threat since the loss of about 400 cattle in a 1987 flood.
"Boats are used in some places to rescue the cattle," he said. "They have to
swim them up to an island or other higher ground. Sometimes they have to rope
them and pull 'em out. You don't get em all."
Hale said so far losses in the Goliad County area have been minor but if more
rain falls, there could be a major problem because the soil is saturated and
will not take any more moisture.
"Things are OK right now," Hale said. "But if we get more rain, we could be in
trouble again."
Flooding has been worst on the Guadalupe, Brazos, Colorado, and Trinity rivers
 which all flow south across Texas to the Gulf of Mexico. At least 15 people
have died in the flooding, which began about two weeks ago upstream.
The property loss is estimated at $75 million by the governor's office.
Federal aid has been approved for flood victims in Dallas, Brown, Bosque,
Travis and Bastrop counties and more are expected to be added.
The Brazos River about 100 miles northeast of Goliad County on Tuesday neared
a crest of about 50 feet, 2 feet above flood stage. Residents in low-lying
areas were braced for the highwater and pesky fire ants.
"They could make some horror movies out here - 'Attack of the Ants on the
Brazos,"' said Jane Johnson, 36, of Simonton. "Literally clusters of ants are
floating on the water. Any dogs or cattle standing in water will be lucky if
they don't get killed by ants."
Johnson evacuated her home before Christmas but she waited to see where the
river would crest. "It's not over for us until it quits rising. It's like a
slow death out here," she said.
Fort Bend County officials have called for voluntary evacuations in Thompsons,
the Valley Lodge subdivision in Simonton, the Edgewood subdivision in Richmond
and the Brazos Bend State Park.
In Richmond, Emergency Management Coordinator Mel Speed refused Tuesday to say
whether he believed the worst was over or if the river had crested.
"It's taking a lot longer to get here. A lot of people are upset with the
forecasts. This flood is a major problem because there are a lot of unknowns."
Emergency management officials said 28 homes were flooded in Fort Bend County
but residents said they believe the number of flooded homes is larger. People
from the Valley Lodge subdivision said 80 homes had water in them. In Missouri
City, an official said five homes in Oyster Creek Farms had been flooded.
In Simonton, Robert Frost's 800-acre Pecan Acres Ranch was on relatively high
ground and had been spared but he could see fire ants from his truck as he
drove around the flooded areas.
"It's like being in a boat," he said, speaking from a mobile phone. "My truck
is still going but it's pretty scary."
Frost also spotted lots of fire ants. "Jillions of them. Mounds floating on
top of the water ... It's weird ... The water is red because of them," Frost
said.
Although the aggressive fire ants can pose a danger to small animals, they
usually cause in no more than painful bites for humans, experts say.
Northeast of Houston, Liberty County Emergency Management Coordinator Jim
Mitchum said the Trinity River was expected to rise to 30 feet at the U.S. 90
bridge in Liberty by Wednesday. That is six feet above the flood stage.
"We're talking about somewhere around Jan. 10th to the 15th before our people
will be able to get back into their riverside subdivisions," Mitchum said.
-30- 4699
SPORTS CALENDAR
12/31/91
91365u0776  United Press International
(DEC. 31) UPI - SPORTS CALENDAR:
(All times EST)
BASKETBALL
NBA
No games scheduled
COLLEGE FOOTBALL
Dec. 31
El Paso, Texas - Hancock Bowl (Illinois vs. UCLA), 2:30 p.m.
Tucson, Ariz. - Copper Bowl (Baylor vs. Indiana), 8 p.m.
HOCKEY
NHL
NY Rangers at Winnipeg, 5:35 p.m.
New Jersey at Pittsburgh, 6:05 p.m.
Boston at Detroit, 7:35 p.m.
St. Louis at Buffalo, 7:35 p.m.
Montreal at Calgary, 8:05 p.m.
Chicago at Minnesota, 8:05 p.m.
Vancouver at Los Angeles, 9:05 p.m.
TENNIS
Adelaide, Australia - South Australian Open.
Brisbane, Australia - Danone Open.
Perth, Australia - Hopman Cup
-30- 1443
SPORTS TRANSACTIONS
12/31/91
91365u0772  United Press International
(DEC. 31) UPI - SPORTS TRANSACTIONS:
COLLEGE
Maryland - Named Mark Duffner football coach.
-30- 321
FORMER ZAMBIAN PRESIDENT KENNETH KAUNDA TO RETIRE FROM POLITICAL LIFE
12/31/91
91365u0755  United Press International
LUSAKA, ZAMBIA (DEC. 31) UPI - Former Zambian President Kenneth Kaunda, who
ran his country for 27 years until a recent election defeat, plans to retire
from political life next month, the African veteran told United Press
International Tuesday.
Speaking by telephone from his Roan Guest House residence in Zambia, Kaunda,
67, said he planned to give up the presidency of his United National
Independence Party, UNIP, in January and retire into private life.
''I want to be relieved'' from party president responsibilities, Kaunda said.
''I would like to do some other work.''
Kaunda, universally known in Africa as ''KK,'' became president of Zambia upon
independence from Britain in 1964 and ran the country until November this year
 stepping down after losing the first multi-party election held in the
southern African country since 1972.
Roguish, outspoken Kaunda - once a fierce advocate of African socialism and a
ferocious exponent of the one-party state - quietly handed over power to
opponent Frederick Chiluba despite once promising he would never surrender
control of Zambia.
Forced by riots and dissident protest in 1990 to abandon his single- party
rule and allow an opposition, he nevertheless had remained convinced his
people would never vote him out of office.
Kaunda has headed UNIP, the party he set up to drive colonial Britain out of
his country, for the past 32 years.
He told UPI he would ask the party's central committee and national council to
relieve him of his responsibilities in January 1992.
''But if the party wanted me to assist them in some campaign, I would be happy
to do that work'' Kaunda said.
He said he would like to turn his hand to research work, and study what he
called ''global peace'' as well as health issues related to Zambia.
''I would like to do some research in so far as global peace is concerned. I
want to do some work in that field,'' Kaunda said.
Kaunda's retirement would make him the last of Africa's grand old men from the
era of colonial independence to quit the political field.
-30- 2408
TEENAGE BOY DIES AFTER INHALING SCOTCHGARD FABRIC PROTECTOR
12/31/91
91365u0750  United Press International
FOX LAKE, IL (DEC. 31) UPI - A teenager who sniffed the fumes from a can of
Scotchgard fabric protector died and seven other teens were hospitalized as a
precaution, authorities said Tuesday.
The eight apparently had been sniffing the fumes of the product made by St.
Paul-based 3M to get high, Fox Lake Police Chief Ron Nagel said.
''It's a senseless death like this that's really tragic,'' Nagel said.
The eight youths, ranging in age from 13 to 15, used the Scotchgard Monday
while in a vacant lot in a subdivision in the ''average'' community of 8,000
straddling Lake and McHenry counties. Randy Plasky, 13, of Fox Lake, collapsed
at the site and later was pronounced dead.
''Apparently they were taking cans of Scotchgard and spraying it onto some
paper cloth and putting it to their face and inhaling the fumes,'' Nagel said.
One of the teens called an ambulance and police eventually rounded up all
seven, taking them to hospitals overnight as a precaution.
Nagel and McHenry County coroner's office investigator Jan Comer said they had
heard of children inhaling other substances to try to get high but never
Scotchgard.
Police said their investigation was continuing and were uncertain whether
charges were warranted against anyone.
Nagel said Plasky's parents gave ''some indication'' that the boy also
suffered from asthma.
Comer said the Plasky apparently died from inhaling the fumes ''but until we
have toxicology reports, we can't say definitely what it was. What if it was
some other quirk that happened?''
-30- 1871
LIST: CORPORATE DIVIDENDS
12/31/91
91365u0680  United Press International
(DEC. 31) UPI - CORPORATE DIVIDENDS:
 Company            Period   Amount    Payable   Record
 Special
 Blair Corp             ..     1.55       2-1       1-14
 Usual
 Amer Bancorp OH        Q       .25       1-10      1-6
 Dreyfus Cal Muni       M       .05       1-28      1-14
 Dreyfus  Muni Inco     M       .06       1-28      1-14
 DreyfusNY MuniInco     M       .05 1/4   1-28      1-14
 DreyfusStratMuniBd     M       .059 1/2  1-28      1-14
 Dreyfus Strat Govt     M       .09       1-28      1-14
 Dreyfus Strat Muni     M       .06 1/2   1-28      1-14
 Laurel Bancorp         Q       .10       1-14      1-17
 Lowe's Companies       Q       .14       1-31      1-17
 Fst Eagle Fd Amer      ..      .081      1-3      12-27
 a-annual; m-monthly; q-quarterly; s-semi- annual
-30- 1369
WORLD NEWS SUMMARY AT 8:46 A.M.
12/31/91
91365u0642  United Press International
(DEC. 31) UPI - New government figures out this morning show that leading
indicators of nation's future economic activity were stagnant for a fourth
straight month in November. The Commerce Department's leading economic
indicators fell by three-tenths of a percent last month. The November decline
followed an UNrevised increase of one-tenth of a percent in October... a
revised fall of 2 tenths of a percent in September... and NO change in August.
The index had had risen steadily from January through July... but has
flattened since then.
President Bush is already celebrating 1992. The president and First Lady
Barbara Bush arrived in Australia this morning. They later viewed a New Year's
Eve fireworks display on the waterfront in Sydney. Bush is scheduled to hold
New Year's Day talks with Australian Prime Minister Paul Keating. He travels
on later this week to Sinapore... South Korea and then Japan.
South and North Korea today signed a joint declaration for denuclearization of
the Korean peninsula. The signing is seen as another significant step toward
peaceful unification of a country that was divided 46 years ago. unification
of their land divided 46 years ago. The agreement will go through ratification
procedures in the two Koreas and take effect when the prime ministers of South
and North Korea meet again in February.
Mother Nature flexed its muscles UNusually hard across the nation in 1991. The
Federal Emergency Management Agency estimates it will pay out 323 MILLION
dollars to help people and communities recover from 43 major disasters that
occurred this year. In a year-end review of the agency's disaster
activities... F-E-M-A Director Wallace Stickney says President Bush declared
major disasters 43 times for 24 states and four U-S jurisdictions in the
Pacific. That's 20 more declarations than F-E-M-A's annual average of 23.
Doctors in La Jolla, California say Mother Teresa is seriously ill with
bacterial pneumonia and heart problems. The 81-year-old Calcutta nun is in the
intensive care unit of the Scripps Clinic. She was admitted to the hospital
the day after Christmas. Doctors say Mother Teresa's condition continues to
improve... she will be hospitalized for another week to treat her heart... the
pneumonia and to watch for potential new problems. Mother Teresa arrived in
San Diego earlier this month and traveled to Tijuana, Mexico... which was the
last stop of a worldwide visit to local communities of her Missionaries of
Charity.
A MULTIMILLION dollar lawsuit filed by a former Miss USA has been dismissed.
Carole Gist and pageant officials have reached an out-of- court settlement in
the case. Gist claimed in the suit that her 1990 reign was marred by long
days... short pay and UNkept promises of prizes and gifts. Gist accused Miss
USA pageant officials of violating her civil rights. The former beauty queen's
attorney Gregory Reed says the settlement also resolves a similar lawsuit
filed by Gist and Gretchen Polhemus... who was Miss USA 1989. Reed says the
settlement in the 18 MILLION dollar lawsuit is satisfactory to both parties.
-30- 3413
DUAL TRADING BAN CHALLENGED BY CHICAGO MERCANTILE EXCHANGE TRADERS
12/31/91
91365u0624  United Press International
CHICAGO (DEC. 31) UPI - More than 600 members of the Chicago Mercantile
Exchange have asked Chairman John Sandner to push for restoration of dual
trading, it was reported Tuesday.
The CME virtually banned the practice in its most heavily traded contracts in
the aftermath of an FBI investigation of trading practices at the Merc and the
Chicago Board of Trade, the Chicago Tribune said.
Dual trading allows a broker to trade for his own account as well as a
customer's account.
In 1987, following charges of dual-trading abuse in the Standard & Poor
contract, the CME membership voted to virtually eliminate the practice in that
pit. After disclosure of the undercover investigation two years later, the
Merc extended the ban to nearly all of the exchange's financial futures
contracts, but in a slightly different form.
The Merc scheduled a membership meeting Jan. 9 to consider the request.
In three separate letters, brokers and traders in the CME's busiest pits told
Sandner the ban on dual trading has had a negative effect on their profits and
the profits of their customers. The letters are from the S&P's 500 stock index
pit, most of the currency futures pits and the Eurodollar pit.
''This is a classic example of a lose-lose situation,'' said John Newhouse in
a letter on behalf of more than 100 members of the Merc's floor brokers
association. ''The customer loses and the institution loses. We know that the
moment-to-moment liquidity has been greatly affected to the detriment of our
customers.''
Another letter came from attorney Daniel Pierce on behalf of more than 500
members.
''It is no exaggeration that the sentiment in opposition to the current rules
dealing with dual trading is strong, deep, across-the- board and well-founded
'' Pierce said.
Proponents of dual trading argue it gives more liquidity to the markets,
allowing brokers the chance to make more money, and gives their outside
customers better prices on the purchase or sale of futures contracts.
Sandner said the CME board will listen to the membership and then meet to make
a decision.
-30- 2505
U.S. NEW HOME SALES
12/31/91
91365u0601  United Press International
WASHINGTON (DEC. 31) UPI - Sales of new single-family homes were unchanged in
November despite a drop in mortgage rates and home prices, the government said
Tuesday.
The housing market was hardest hit in the Northeast, where new home sales were
down 44.6 percent in November, the Commerce Department said. The annual rate
of 36,000 home sales in the region was the lowest since 29,000 in January 1982.
New home sales nationwide were at a seasonally adjusted annual rate of 520,000
in November, the same as the upwardly revised October rate, the Commerce
Department said. The November level was 8.3 percent higher than the November
1990 level of 480,000 new homes sold.
Mortgage rates have been falling for several months and last week were the
lowest in 18 years. The Federal Home Loan Mortgage Corp. said the average rate
on 30-year mortgages fell to 8.35 percent last week, the lowest since Aug. 3,
1973, when the national average was fixed at 8. 26 percent.
The home sales report said the median price of a new home fell to $117,400
from an upwardly revised $125,000 in October. The median means half of the
homes cost more and half less. The November median price is the lowest since
May when it was $116,000.
The average price of a home was $141,100, down from an unrevised $149,000 in
October.
The sluggish market also meant fewer owners were willing to put their homes up
for sale. The annual rate of 285,000 homes for sale in November was the lowest
since June, 1983 when the rate was 282,000.
The new home sales report comes on the heels of a National Association of
Realtors report Monday that said existing home sales for November were up 5.4
percent over October.
New home sales in November by region:
-Northeast, down 44.6 percent to a seasonally adjusted rate of 36,000 after
rising 4.8 percent in October.
-Midwest, down 8.8 percent to a 96,000 rate after rising 9.4 percent in
October.
-West, up 14.1 percent to a 146,000 rate after falling 7.9 percent.
-South, up 9 percent to a 242,000 rate after rising 8.8 percent.
The Commerce Department earlier this month reported new home construction fell
2.1 percent in November. Analysts have said the housing construction market in
1991 is shaping up as the weakest since World War II.
-30- 2632
NEW YORK DAILY NEWS ASSURED OF ADEQUATE CASH FLOW FOR TWO MONTHS
12/31/91
91365u0582  United Press International
NEW YORK (DEC. 31) UPI - The New York Daily News had $8 million in cash as of
Tuesday and will have an adequate cash flow to continue publishing in January
and February, according to a management statement.
The statement was issued Monday following the first meeting of the tabloid's
executives with representatives of its unsecured creditors to discuss how the
72-year-old paper can survive the collapse of the late Robert Maxwell's
publishing empire.
''Financial projections through March 1, 1992, have been prepared and show
adequate cash flow,'' announced News editor Jame Willse, adding tha
projections beyond March 1 would be made in January.
He said management reported having $8 million in cash in addition to making
cost-containment efforts expected to save $8 million in the coming year.
''It's a real stew of cost savings including service contracts, leases, and
other operating expenses,'' Willse said.
''We are more than optimistic - we are absolutely confident the paper can be
saved. The News is in no imminent danger. I hope we're now past the notion
that we're hurtling toward the edge of the cliff.''
Willse said the News expects to cut spending even more by reducing the amount
of space it leases for operations from LaSalle Partners, management for the
Daily News building.
Howard Seife, a spokesman for a 13-member creditors' committee, including four
unions, issued a statement saying ''We came away from the meeting wih an
optimistic view as to the future of the newspaper.''
''Management allayed current concerns of the creditors regarding the viability
of the newspaper,'' Seife said.
Optimism was echoed by Herbert Edelman, an attorney representing British
court-appointed administrators of Maxwell's private companies, including the
News. He said the administrators were ''very happy'' with efforts being made
by News management.
''The primary objective is to preserve the Daily News,'' he said.
Willse said possible job cuts and other union concessions were not discussed
at the meeting at the Daily News building, nor was the possibility of a sale
of the paper. The unions made major concessions when Maxwell bought the
newspaper last March.
Although union representatives talked of ''suitors waiting in the wings,''
only one prospective buyer has gone public. Mort Zuckerman, publisher of U.S.
News & World Report, said in a London interview Sunday that he has met ''with
various people at the News and left them in no doubt that we are a serious
contender for the paper.''
It was announced earlier this month that the paper had only enough cash to
publish through part of January, traditionally the worst month of the year for
advertising income. The News had $52.3 million in liabilities and $37.4
million in assets when it filed for Chapter 11 federal bankruptcy protection
Dec. 5.
Maxwell, who died in waters off the Canary Islands Nov. 5, took over the News
from the Tribune Co. of Chicago after a 126-day strike during which the paper
continued to publish. He was able to win back many readers and advertisers
lost during the strike but was unable to make the News profitable.
Maxwell's heirs filed for bankruptcy in Britain Dec. 5 for the family's
privately held companies, which control the News, and gave up control of the
paper last Wednesday. Willse succeeded Kevin Maxwell as chairman and publisher.
-30- 3932
WORLD NEWS SUMMARY AT 7:57 A.M.
12/31/91
91365u0581  United Press International
(DEC. 31) UPI - President Bush is ''down under'' this morning. The president
and First Lady Barbara Bush arrived in Australia today... and joined new
Australian Prime Minister Paul Keating to watch a New Year's Day waterfront
fireworks display. Australia is Bush's first stop of an 11- day trade mission
to Asia. He and a delegation of U-S corporate executives will also visit
Singapore... South Korea and Japan.
The anniversary of a major event in Soviet history came and went yesterday
with almost NO notice. Weeks ago former Soviet President Mikhail Gorbachev
expressed hope that a new union treaty would be signed on December 30th... the
anniversary of the original Treaty of the Union. But that day instead came
five days after Gorbachev's resignation and was marked by leaders of the
dissolved Soviet Union's republics meeting in Byelorussia to strengthen their
newly formed Commonwealth of Independent States. The anniversary of the
historic Soviet treaty was also ignored by Soviet newspapers. NOT even the
former Communist Party daily Pravda bothered to mention the historic document.
More signs of the nation's bad economic times. Economists say consumer
confidence... which sharply declined in October and November... remained for
the most part UNchanged in December. But analysts noted that respondents to
their latest survey DID express more optimism about future economic conditions
this month than they had in recent months. Economists consider their monthly
survey an key barometer of the nation's financial health because consumer
spending accounts for two- thirds of the economic activity in the United
States.
American doctors working with experimental AIDS drugs are expressing optimism
about reports from London that a drug used to treat herpes may be a
breakthrough in the fight against AIDS. Doctors at London's Royal Free
Hospital said the drug acyclovir... when used with the AIDS- fighting drug
A-Z-T... improved the outcome of patients infected with the AIDS virus.
British research found that 20 percent of the patients on A-Z-T alone died
within a year... compared with 10 percent given both A-Z-T and acyclovir. But
studies by U-S doctors found NO difference between those treated with both
drugs... and those treated with only A- Z-T.
In a New Year's message to his people... China's president today called for
expanding that country's economic reforms and open-door policy. President Yank
Shangkun said in his address carried over state radio that the effort would
fail... however... if the country slips into to social turmoil. The speech
appeared to have reference to UNrest in the former Soviet Union. Yang gave a
glowing assessment of China's progress in 1991... claiming all Chinese were
living in peace... contentment and properity.
-30- 3072
WORLD NEWS SUMMARY AT 7:55 A.M.
12/31/91
91365u0577  United Press International
(DEC. 31) UPI - President Bush is ''down under'' this morning. The president
and First Lady Barbara Bush arrived in Australia today... and joined new
Australian Prime Minister Paul Keating to watch a New Year's Day waterfront
fireworks display. Australia is Bush's first stop of an 11- day trade mission
to Asia. He and a delegation of U-S corporate executives will also visit
Singapore... South Korea and Japan.
The anniversary of a major event in Soviet history came and went yesterday
with almost NO notice. Weeks ago former Soviet President Mikhail Gorbachev
expressed hope that a new union treaty would be signed on December 30th... the
anniversary of the original Treaty of the Union. But that day instead came
five days after Gorbachev's resignation and was marked by leaders of the
dissolved Soviet Union's republics meeting in Byelorussia to strengthen their
newly formed Commonwealth of Independent States. The anniversary of the
historic Soviet treaty was also ignored by Soviet newspapers. NOT even the
former Communist Party daily Pravda bothered to mention the historic document.
More signs of the nation's bad economic times. Economists say consumer
confidence... which sharply declined in October and November... remained for
the most part UNchanged in December. But analysts noted that respondents to
their latest survey DID express more optimism about future economic conditions
this month than they had in recent months. Economists consider their monthly
survey an key barometer of the nation's financial health because consumer
spending accounts for two- thirds of the economic activity in the United
States.
American doctors working with experimental AIDS drugs are expressing optimism
about reports from London that a drug used to treat herpes may be a
breakthrough in the fight against AIDS. Doctors at London's Royal Free
Hospital said the drug acyclovir... when used with the AIDS- fighting drug
A-Z-T... improved the outcome of patients infected with the AIDS virus.
British research found that 20 percent of the patients on A-Z-T alone died
within a year... compared with 10 percent given both A-Z-T and acyclovir. But
studies by U-S doctors found NO difference between those treated with both
drugs... and those treated with only A- Z-T.
In a New Year's message to his people... China's president today called for
expanding that country's economic reforms and open-door policy. President Yank
Shangkun said in his address carried over state radio that the effort would
fail... however... if the country slips into to social turmoil. The speech
appeared to have reference to UNrest in the former Soviet Union. Yang gave a
glowing assessment of China's progress in 1991... claiming all Chinese were
living in peace... contentment and properity.
-30- 3073
EUROPEAN COMMUNITY MEMBERS RECOGNIZING MORE FORMER SOVIET REPUBLICS
12/31/91
91365u0558  United Press International
BRUSSELS, BELGIUM (DEC. 31) UPI - European Community nations began
recognizing more former Soviet republics Tuesday after the EC said its members
would recognizerepublics that give up nuclear weapons, respect human rights
and accept existing borders.
Belgium said it had decided to recognize eight former Soviet republics -
Armenia, Azerbaijan, Byelorussia, Kazakhstan, Moldavia, Turkmenistan, Ukraine
and Uzbekistan.
Belgian officials said Brussels would recognize Kyrghysztan and Tadzhikistan
as soon as they responded positively to EC recognition criteria, but postponed
a decision on Georgia. Georgia is outside the new Commonwealth of Independent
States, made up of 11 former Soviet republics.
Germany, which recognized Russia and Ukraine last week, recognized seven more
Commonwealth republics Tuesday - Armenia, Azerbaijan, Byelorussia, Kazahkstan,
Moldavia, Turkmenia and Uzbekistan.
The 12 EC states, who have already recognized Russia, said in a joint
statement Tuesday they ''welcome the assurances'' received from Armenia,
Azerbaijan, Byelorussia, Kazakhstan, Moldavia, Turkmenistan, Ukraine and
Uzbekistan promising to fulfill the requirements of EC recognition guidelines
set up Dec. 16.
''Consequently, they (EC member states) are ready to proceed with the
recognition of these republics,'' the statement said.
The 12 ''reiterate their readiness also to recognize Kyrghysztan and
Tadzhikistan once similar assurances have been received,'' the statement added.
''Recognition shall not be taken to imply acceptance by the EC and its member
states of the position of any of the republics concerning territory which is
the subject of a dispute between two or more republics.
''Recognition will furthermore be extended on the understanding that all
republics participating with Russia in the Commonwealth of Independent States
on whose territory nuclear weapons are stationed, will adhere shortly to the
nuclear Non-Proliferation Treaty as non- nuclear weapon states,'' the
statement said.
An EC diplomat said this meant three republics now holding nuclear weapons
should give them up, which he said was in line with statements they made
earlier. Kazakhstan, however, has hinted it may use the weapons as a
bargaining chip.
The EC recognized Russia Dec. 23 and said ''the international rights and
obligations of the former U.S.S.R., including those under the U.N. charter,
will continue to be exercised by Russia.''
The EC also welcomed ''the Russian government's acceptance of these
commitments and responsibilities and in this capacity will continue dealing
with Russia, taking account of the modification of her constitutional status.''
The guidelines for recognition laid down by the EC included a state
constituted on a democratic basis, respect for human rights and minorities,
respect of frontiers and acceptance that all issues resulting from the
restructuring of the state and regional conflicts should be settled through
negotiation.
The EC also demanded assurances the republics would fulfill international
obligations ensuing from treaties and agreements reached by the Soviet Union.
In another development Tuesday, Malaysia announced its formal recognition of
the Commonwealth of Independent States. A Foreign Ministry statement said the
Malaysian ambassador in Moscow would be accredited to the Russian Federation,
with concurrent accreditation to the other republics.
-30- 3838
PRESIDENT BUSH RINGS IN NEW YEAR IN AUSTRALIA AS PART OF PACIFIC RIM TOUR
12/31/91
91365u0551  United Press International
SYDNEY, AUSTRALIA (DEC. 31) UPI - President Bush, on an 11-day trade mission
to the Pacific Rim, rang in the New Year in Sydney, Australia, where he joined
residents of the nation's biggest city to enjoy a festive fireworks display.
''Here we go,'' Bush exclaimed Tuesday night as the first fireworks exploded,
lighting up Sydney Harbor and the city skyline.
Accompanied by a delegation of top U.S. businessmen, Bush arrived in Sydney on
New Year's Eve for the first stop of his tour to Australia, Singapore, South
Korea and Japan.
The 26,000-mile trip is aimed at trying to pump up the ailing U.S. economy, as
well as Bush's slumping polls, by prying up foreign markets to more U.S. goods.
Bush crossed the International Dateline on a 21-hour flight from Washington to
celebrate New Year's in Sydney, where 1992 arrived 16 hours before it reached
the United States.
Bush and his wife, Barbara, were greeted by several Australian dignitaries,
led by Prime Minister Paul Keating and Governor-General Bill Hayden.
Together, they viewed the 30-minute pyrotechnics display from Hayden's
waterfront home.
''I'm very pleased to be here,'' Bush told reporters.
Bush was to meet Wednesday with Keating about a host of trade issues.
The United States has a trade deficit of about $72 billion, the bulk of it
with Japan and other Asian nations.
However, the United States enjoys a large trade surplus with Australia, which
blames the imbalance on sugar quotas and meat restraints as well as U.S.
agriculture subsidies that hurt Australian farmers.
Farmers plan to demonstrate against those policies during Bush's visit to the
Australian state capital of Canberra Thursday.
The president was to go on to Singapore Friday, and then to South Korea and
Japan.
Japanese officials have been angered by Bush's demands that they open their
markets to more U.S. goods, but in recent days have indicated they may make
some concessions.
As Bush departed, Senate Democratic leader George Mitchell of Maine and House
Democratic leader Richard Gephardt of Missouri said Bush should be judged by
the trade concessions he wins from the Japanese.
''It's time to use our foreign policy on behalf of Americas' economic
interests,'' the leaders said in a statement.
''The president's trip should be judged by whether he wins measurable
commitments for trade concessions from Japan and whether he persuades Japan to
assume more of the costs of our military presence in Asia,'' Mitchell and
Gephardt said.
''Japan's economic leadership must go hand-in-hand with its international
leadership commitments,'' they added. ''Working Americans expect and demand
results.''
The economy has dragged down Bush's once record high approval rating to below
50 percent, and a recent survey found that only one in four Americans like the
way he has handled the economy.
Surveys also show that by a 3-to-1 ratio Americans think Bush spends too much
time on foreign affairs and not enough on domestic concerns, like the economy.
Democratic National Committee Chairman Ron Brown said last week, ''George Bush
and the economy will spend New Year's Eve together - down under.''
Bush became the first American president to visit Australia since Lyndon
Johnson did so in 1967. And unlike Johnson's 1966 stop in Sydney, during which
he was jeered by demonstrators protesting the Vietnam War, Bush was cheered by
a smattering of people who lined city streets.
Many waved American and Australian flags.
The Sydney Telegraph-Mirror newspaper ran a front-page headline, ''G'day
George.''
-30- 3977
AMERICAN AIRLINES JET ABORTS LANDING AFTER ANOTHER JET TAXIS ONTO RUNWAY
12/31/91
91365u0549  United Press International
CLEVELAND (DEC. 31) UPI -  An American Airlines jet with 59 people on board
had to abort a landing at Cleveland Hopkins International Airport because
another jet taxied onto a runway, the Plain Dealer reported Tuesday.
A passenger on American Airlines Flight 346 from Nashville told the newspaper
the jet touched down on the runway for a moment before taking off again to fly
over a Continental Airlines jet that strayed onto the runway about 10 p.m.
Sunday. The Continental jet carried 31 people and was en route to Providence,
R.I.
''We were on the ground,'' said the woman passenger, who asked not to be
identified. ''The plane bounced up and touched down again, then the engines
roared and we took off into the fog.''
Federal Aviation Administration officials said a preliminary investigation
indicated the pilot of the Continental flight was in error.
FAA spokesman Morton Edelstein said it was undetermined how close the
jetliners came to each other and he said it was uncertain if the American jet
actually touched down.
''The pilot of the American flight did not file a near-miss report,''
Edelstein said. ''If it had been close, he would have filed one. We don't know
how close they came but initial reports are that they were not that close.''
Thomas Sperellis, a representative of the Air Traffic Controllers union, told
the newspaper the American flight came within ''a couple hundred feet'' of the
other jet.
''The Continental pilot was supposed to taxi over and wait to take off, but it
went right onto the runway,'' Sperellis said. ''One of the controllers saw it
and told the American flight not to land. It was the quick action of the
controllers that prevented a collision.''
Tim Smith, a spokesman for American Airlines, said the American pilot was told
by air traffic controllers to abort the landing after the Continental jet
disobeyed an instruction to ''hold short'' of the runway. ''We were pretty
much on the ground,'' he said.
Smith said after the plane climbed back into the air, it circled for about 10
minutes before landing safely.
Sperellis blamed a solid yellow line on the airport's taxi lane that goes
directly onto the runway, even though posted signs tell pilots when to turn.
David Koch, acting air traffic manager at Hopkins, said pilots should know
enough not to follow the line onto the runway.
''If you're a pilot at our airport, you should know what the taxi markings
mean,'' Koch said. ''They should know better than to just follow a line. They
have charts of our airport and can always ask for specific instructions. This
pilot did not.''
-30- 3173
REPORT: LISA OLSON LAWSUIT AGAINST PATRIOTS HEADED FOR OUT-OF-COURT SETTLEMENT
12/31/91
91365u0544  United Press International
BOSTON (DEC. 31) UPI - Sports writer Lisa Olson and the New England Patriots
are close to reaching an out-of-court settlement of her sexual harassment suit
stemming from a locker-room incident involving three pro football players, The
Boston Globe reported Tuesday.
However, one of the players who allegedly was involved may not agree to the
settlement, the report said.
Olson, who was working as a sports writer for the Boston Herald at the time of
the alleged incident, filed suit last April 25 against Victor Kiam, owner of
the Patriots; former Patriot general manager Patrick Sullivan and players Zeke
Mowatt, Robert Perryman and Michael Timpson.
Olson claimed she was sexually harassed by Mowatt, Perryman and Timpson on
Sept. 17, 1990, in the Patriot locker room. The players and the Patriots were
fined a total of $72,500 in November 1990 by NFL Commissioner Paul Tagliabue.
Lawyers in the case have been taking depositions for the past five months,
with the trial scheduled for March, but the Globe said an out- of-court
settlement could be signed within 30 days.
The settlement would include keeping depositions and testimony confidential,
but Mowatt - who played for the New York Giants this past year - reportedly is
unlikely to agree until the NFL clears his name and recinds his $12,500 fine,
which he has not paid.
Perryman, who now plays with the Denver Broncos, has also not paid his fine of
$5,000. Timpson, who is still with the Patriots, paid a $5, 000 fine.
Olson is reported to be in Australia on assignment for another paper owned by
Rupert Murdoch, who owns the Herald.
Olson originally was not expected to file suit after the NFL assessed the
fines, but changed her mind because Kiam joked about the incident during a
speaking engagement.
-30- 2308
ISRAELI PM YITZHAK SHAMIR'S LIKUD PARTY BARGAINS OVER STATE BUDGET VOTE
12/31/91
91365u0525  United Press International
JERUSALEM (DEC. 31) UPI - Prime Minister Yitzhak Shamir's Likud party engaged
in frantic last-minute bargaining Tuesday, hoping to ring in the new year with
a victory over the opposition during a crucial midnight vote over the state
budget.
Likud leaders, unsure of a majority to pass its 1992 budget, postponed until
late in the day a meeting of the Finance Committee in the Knesset, Israel's
parliament, which must endorse the fiscal plan before it is sent to the floor
for a vote.
As a result, legislators were preparing to work down to the wire Tuesday night
to start the deliberation on the $38 billion budget before the end of 1991.
In the Knesset, Likud's ultra-orthodox coalition partners were holding firm to
their demands for millions of shekels in special allocations to religious
academies and other institutions.
Another Likud partner, the National Religious Party, was pressing Shamir to
grant it exclusive control over funding for religious institutions and not to
cave in to demands by the ultra-orthodox. Far- right parties also were
pressing the government for money to increase Jewish settlement in the Old
City of Jerusalem.
Opposition Labor Party leader Shimon Peres, who is mobilizing an effort to
thwart the budget bill, accused Shamir of using government funds to build
Jewish settlements in the occupied territories, rather than benefit the
national economy as a whole.
''You have taken 1 billion shekels for settlements while there is unemployment
and while the absorption of immigrants is limping only for the sake of
preserving the rule of the Likud,'' he said.
Shamir, with an eye towards upcoming elections, has said his party cannot
afford to lose the budget vote, or a vote later this week on direct elections
of the prime minister. ''We must win both,'' he said in a speech to party
associates on Monday night. ''Victory is a matter of life or death.''
Shamir also hinted that he might call for early elections, which are now set
for November.
Likud and its partners currently command 64 out of the 120 seats in the
Knesset, but was weakened by the departure from the government last week of
Tzomet, a far-right party with two Knesset seats.
While the lawmakers were certain to be awake at midnight to greet the new year
 thousands of other Israelis also were planning to stay up into the wee hours.
However, the Jewish new year is celebrated in the autumn, and rabbinical
authorities are seeking to discourage the public from drinking and reveling on
a holiday that lies outside the Jewish tradition and has been adopted from
Christian countries.
-30- 3017
PAT BUCHANAN ON BALLOT, DAVID DUKE OFF FOR RHODE ISLAND'S MARCH 10 PRIMARY
12/31/91
91365u0495  United Press International
PROVIDENCE, RI (DEC. 31) UPI - Patrick Buchanan is on, but David Duke is
still off Rhode Island's March 10 Republican presidential primary ballot
against President Bush.
The American Civil Liberties Union, however, said it probably will try through
lawsuits to get Duke listed on the ballots in both Massachusetts and Rhode
Island.
Secretary of State Kathleen Connell decided Monday to put Buchanan on the
ballot. She said the conservative political columnist was a bona fide
candidate because he had requested a ballot spot and has national name
recognition.
Connell said she did not put former Ku Klux Klansman David Duke on the ballot
because he filed no written request with her office and has been ''disavowed
by national leaders of his party.''
Supporters of Duke vowed to obtain the required 1,000 valid voter signatures
by a Jan. 7 deadline to get their candidate's name on the ballot. However,
that effort reportedly is lagging. A similar signature drive in Massachusetts
on behalf of the former Nazi fell far short.
Earlier Monday, the director of the Rhode Island affiliate of the American
Civil Liberties Union threatened to sue Connell if she did not put Buchanan on
the ballot. Steven Brown said the ACLU will do the same for Duke if Duke's
aides requests help.
Duke's campaign director, Howie Farrell, said he plans to call ACLU leaders in
both Massachusetts and Rhode Island ''and probably ask them to get actively
involved'' in lawsuits.
The ACLU says the Rhode Island law violates First Amendment freedom of
association protection. It is similar to the law in Massachusetts under which
that state's secretary of state, Michael J. Connolly, denied Duke an automatic
spot on the ballot in Massachusetts as a ''nationally recognized'' candidate.
John Roberts, executive director of the ACLU in Massachusetts, said the law is
''unconstitutionally vague'' because it gives a state official too much
discretion in declaring who is or is not ''nationally recognized.''
The Democratic ballot in Rhode Island on March 10 will include six
acknowledged candidates and four fringe candidates who asked Democratic State
Chairman Mark Weiner for access.
The six are Sens. Tom Harkin of Iowa and Bob Kerrey of Nebraska, Govs. Bill
Clinton of Arkansas and Douglas Wilder of Virginia, former California Gov.
Edmund G. Brown Jr. and former Massachusetts Sen. Paul Tsongas. The four
others are Thomas Laughlin, Larry Argan, Charles Woods and former Minnesota
Sen. Eugene McCarthy.
Republican State Chairman Robert Rendine had opposed ballot spots for both
Buchanan and Duke, saying he believed neither man had a chance of defeating
Bush.
Weiner called Rendine's attitude an anti-democratic ''disgrace.'' Weiner said
even though he detests Duke, he is entitled to ballot access.
-30- 3557
YOUNG LEBANESE MAN KILLS HIMSELF WHILE PLAYING "RUSSIAN ROULETTE"
12/31/91
91365u0481  United Press International
BEIRUT, LEBANON (DEC. 31) UPI - A young man killed himself while playing
Russian roulette in a town near Beirut, police said Tuesday.
Police said Karim Fayez Saab spun the cylinder of a revolver loaded with one
bullet, aimed the gun at his head and pulled the trigger, police said.
The incident occurred in the predominantly Druze town of Shoueifat, just
southeast of Beirut. Police did not say if anyone witnessed the shooting.
Saab was the latest victim among a number of Lebanese youths who have ended
their lives in the same fashion in recent years.
Russian roulette became a common game among many militiamen during Lebanon's
16-year civil war. The Beirut government recently said it would collect small
weapons kept by Lebanese citizens.
-30- 1056
RUSSIAN VICE PRESIDENT RUTSKOI SAYS BORIS YELTSIN LACKS LEADERSHIP
12/31/91
91365u0455  United Press International
BONN, GERMANY (DEC. 31) UPI - Russian Vice President Alexander Rutskoi said
in an interview published Tuesday that President Boris Yeltsin had triggered
choas because he ''cannot lead'' and Rutskoi warned Russia could break up in
the same way as the Soviet Union.
He told the German illustrated magazine Stern the trust of the people in the
government is sinking daily and a social explosion could occur.
''I respect Boris Yeltsin very much,'' Rutskoi said. ''He is a wonderful
person, hospitable, charming, in love with life. But he has one fault. He does
not make his staff members answer for their actions. He cannot lead.''
He complained that Yeltsin issues orders and no one carries them out, or that
senseless decisions are made. He also contended that no one was
takingresponsibility for the consequences.
''I call that chaos,'' Rutskoi said.
Rutskoi said the new Commonwealth of Independent States forged by some former
Soviet republics was the only solution to the problem of the breakup of the
Soviet Union.
But he added, ''The first cracks exist already, for example in the financing
of the armed forces. And as the Soviet Union broke up, Russia now can also
break up.''
He said although central government planning has been abolished, 98 percent of
industry is still in government hands.
''Where will the goods come from?'' he asked. ''First there has to be
privatization, and then freeing of prices.''
Russia plans to abolish many price controls Thursday and prices are expected
to soar. The economic shock therapy is aimed at jolting the nation into a free
market system that would replace the centrally run economy created under
communist rule.
Rutskoi said the people are losing faith in the government because of the
supply situation. He said Russia has been granted credits to buy American
wheat, but the first shipments will not arrive until spring.
''How are we to survive until then?'' he asked. ''The ministers do nothing
about it.''
Power plants, he said, have only enough oil to operate for five days, but
Yeltsin has discussed this with no one.
Rutskoi said Yeltsin accounts for the inaction and faults of his subordinates
by saying a democratic society is being constructed.
''But I believe you can not jump immediately from a dictatorship to a
democracy,'' he said. ''We need a strong executive power under control of
parliament. Decisions have to be carried out.''
Rutskoi accused Yeltsin of ''gross disrespect'' for him for restricting his
power without consultation while he was abroad. But he said he had been
elected by the people and would not resign.
Asked to explain a recent remark that in Russia there is neither authority nor
democracy, he said, ''There is the most repulsive form of dictatorship - the
dictatorship of the street. Everyone does as he pleases, the bureaucrats, the
citizens.''
''People cannot continue to live under such conditions,'' he said. ''A social
explosion threatens. We want a democratic country. But the worker who steals a
few planks gets six years in prison. A minister can steal millions and at most
he becomes a trade attache in an embassy.''
He said if the people rise up and take to the streets, Yeltsin will appeal to
them. He said the army will not march against the people, but some action will
have to be taken if lives are endangered.
-30- 3764
MASSACHUSETTS COUPLE FACING FORECLOSURE WINS $3.5 MILLION LOTTERY
12/31/91
91365u0437  United Press International
NORTH READING, MA (DEC. 31) UPI - A worker with the mentally retarded and her
police officer husband rejoiced Tuesday after winning a $3.5 million state
lottery jackpot on the last day a bank gave them to pay their overdue mortgage
or lose their home.
''The last day on our notice to pay up was Dec. 28, the day I won,'' said
Shirley May, who joined her husband, Stephen, in claiming their Massachusetts
Lottery prize on Monday.
''This is like Merry Christmas and Happy New Year all in one. Now we don't
have to worry about losing the house,'' she said. ''It's our own Christmas
miracle.''
Shirley, 39, who works with the mentally retarded, and her 46-year- old
husband, a police captain for Conrail, moved into their North Reading home 18
months ago, returning to the community where she grew up after living in
Chicago for 11 years.
The Mays, who have two sons, Stephen, 16, and Michael, 13, said they got in
over their heads with a 17 percent mortgage, which they said was the best deal
available in early 1990.
''It's just been a financial struggle ever since we came back because of the
cost of living. Our mortgage was so high,'' she said.
May said they began juggling their bills, but ''you just run out of gas before
you run out of bills.''
Because they owed almost $11,000 in back mortgage payments, they received a
foreclosure notice that expired Saturday, the day she bought the ticket in the
Massachusetts Megabucks drawing.
Shirley May said she bought the ticket at a convenience store, letting the
computer pick her six numbers at random. Later at home, she watched the
drawing on television, checked her numbers and realized her ticket was a
winner.
''I started jumping around the kitchen like, 'We won! We won!' My first
thought was now we don't have to worry about losing the house. We can pay off
the house.''
After taxes, the Mays will receive $130,823 a year for the next 20 years.
''This year, we're going to take care of business,'' she said. ''Next year,
we're going to play a little.''
-30- 2403
LEADERS OF 11 FORMER SOVIET REPUBLICS MANAGE TO FORGE NINE AGREEMENTS
12/31/91
91365u0433  United Press International
MINSK, BYELORUSSIA (DEC. 31) UPI - Leaders of 11 former Soviet republics
managed to forge agreements on the space program, state-run broadcasting, the
environment and other issues left over from the defunct Soviet Union despite
disputes on major military and economic matters.
During a marathon one-day summit in the Byelorussian capital Monday, the
republic presidents reached nine agreements and their prime ministers signed
another six.
On a key military point, the new nations decided to leave central, unified
command of nuclear forces under Defense Minister Yevgeny Shaposhnikov for now.
An agreement involving the four republics with Soviet nuclear arsenals said
''until the complete elimination of nuclear weapons, the decision on the need
for their use shall be taken by the president of the Russian federation with
the agreement of the heads of Byelorussia, Kazakhstan and Ukraine and
consultations with the heads of other commonwealth states.''
However, control of Soviet conventional forces remained an open issue, with
three republics - Ukraine, Azerbaijan and Moldavia - seeking separate armies.
That left eight republics under a more fragile single command, as the C.I.S.
agreed individual republics were free to form their own armies.
The republic leaders also could not find common ground for the other key issue
 the transition from state economies to market economies.
But while military and economic issues dominated the first meeting of
commonwealth leaders since their alliance came together Dec. 21 in Alma Ata,
Kazakhstan, other matters were resolved.
The republics agreed to work together to tackle the lasting problems from the
1986 Chernobyl nuclear power plant accident, when massive amounts of
radioactivity were released. They also agreed to look for ways of reviving the
dying Aral Sea and saving the fish in the Caspian Sea.
They agreed to share the former Soviet television and radio company, which
Russia initially asserted control over, as a commonwealth channel.
The commonwealth also reached a general agreement on the Soviet space program,
recognizing the need to continue it and the duty to obey international
agreements signed by the Kremlin.
It was unclear just how the space program would be run, but the republics
agreed to share space spending and any revenues from commercial space
launchings.
The republics also agreed to devise a way of sharing Soviet state property
seized by Russia, such as foreign embassies, after the demise of the Soviet
Union.
Republics earlier criticized Russian President Boris Yeltsin for grabbing
everything Soviet, and said the Soviet property belonged to all the former
Soviet Union republics.
At the insistence of Ukrainian President Leonid Kravchuk, the commonwealth
avoided adopting a charter, but still managed to formally create a Council of
Heads of State and a separate Council of Heads of Government. They also
createda plan for future meetings for the 11- republic alliance.
The Commonwealth leaders agreed to meet again next month.
-30- 3596
INDONESIAN TROOPS TO SEARCH FOR MISSING BODIES AFTER LAST MONTH'S SHOOTINGS
12/31/91
91365u0430  United Press International
JAKARTA, INDONESIA (DEC. 31) UPI - Military forces will begin a full-scale
search for people still missing after last month's bloody shootings in East
Timor, government announced Tuesday.
The search, ordered by President Suharto, follows the release of a government
report estimating that 50 people were killed and a further 90 were missing
after government troops opened fire on mourners at the funeral of
pro-independence leaders in East Timor on Nov. 12.
The Indonesian government first said no more than 19 people were killed in the
shootings, which sparked an international outcry. Independent reports put the
death toll at more than 100 people.
Suharto has instructed Armed Forces Cmdr. Gen. Try Sutrisno to search for
further missing bodies, government officials said.
''We will cross-check every piece of existing data and all facts found in the
field ...,'' Sutrisno said. ''Please give me a chance.''
The search follows Suharto's decision last week to remove two high- ranking
military officers held responsible for the shootings in Dili, East Timor.
In his year-end speech to the nation, Suharto offered his condolences to the
victims' families and expressed his concern over the fate of the missing.
East Timor, an island 1,250 miles East of Jakarta, was a former Portuguese
colony for more than 400 years before Lisbon ended its rule in 1975. Indonesia
annexed East Timor in 1976 in a bloody civil war.
-30- 1794
PHILIPPINES SERVES ONE-YEAR TERMINATION NOTICE TO U.S. ON SUBIC BAY NAVAL BASE
12/31/91
91365u0420  United Press International
MANILA, PHILIPPINES (DEC. 31) UPI - The Philippines served a one-year
termination notice on Subic Bay Naval Base, the last American military
installation in the country Tuesday, in the wake of failed talks for a gradual
withdrawal of U.S. forces.
Foreign Undersecretary Pablo Suarez delivered the notice on Subic personally
to officials at the U.S. Embassy.
''The government of the Philippines hereby notifies the government of the
United States that the (bases agreement) shall terminate on 31 December 1992
'' the notice read.
''Accordingly, the withdrawal of all U.S. military forces from Subic Naval
Base should be completely by said date.''
U.S. officials had no immediate comment on the delivery of the notice.
President Corazon Aquino offered to negotiate a three-year withdrawal after
the Senate Sept. 16 rejected a 10-year, $1 billion lease on the largest U.S.
naval facility in the region.
But the talks bogged down over a handful of issues, including nuclear weapons,
and the two sides abandoned the effort last week.
Philippine observers have speculated Washington will try to strike a new
agreement after presidential elections in May 1992. But U.S. officials
maintain they have no plans for fresh talks and say the withdrawal effort has
already begun.
The pullout of the 5,800 troops and 4,500 dependents from Subic will end more
than 90 years of U.S. military presence in the Philippines. Nearby Clark Air
Base was transferred to Philippine control Nov. 26 and a handful of smaller
facilities were handed over earlier in 1991.
The Navy said it intends to maintain a significant presence in the region
although it has no plans to replace Subic.
Singapore, Malaysia and Indonesia have expressed interest in absorbing some
limited functions of the repair and logistics facility.
U.S. officials have pledged to continue close ties with the Philippines, but
they acknowledge the former American colony will have less meaning for
Washington without military facilities.
President Bush's whirlwind tour through Asia this week does not include the
Philippines, a sign some say illustrates the country's diminishing importance
to the United States.
More than 35,000 full and part-time Philippine workers at Subic will lose
their jobs as the withdrawal proceeds. The pullout also threatens the
livelihood of tens of thousands of others in the surrounding city of Olongapo.
Analysts warn that the move could end U.S. backing in international lending
organizations for the debt-strapped country and dampen foreign investment.
But Philippine officials were optimistic about converting Subic - the largest
ship repair facility in East Asia - into a trans-shipment and cargo hub.
Aquino has endorsed a plan to turn Olongapo into an autonomous region, hoping
to lure foreign and domestic investment with liberal tariff and taxation
policies.
The government appropriated $3.7 million Monday to revise and implement
conversion plans for Clark and Subic.
The Philippines, however, has a gloomy history of realizing the potential of
former U.S. military installations.
Days after the handover, widespread looting at Clark - apparently with the
tacit approval of the Philippine military - stripped the base of everything
from advanced medical equipment to roofing tiles.
-30- 3822
WORLD NEWS SUMMARY AT 5:45 A.M.
12/31/91
91365u0412  United Press International
(DEC. 31) UPI - President Bush is Australia today on the first stop of his
mission to change the Pacific trade winds. Bush says that his trip will bring
more favorable trade winds to blow in America's direction. Bush hopes to
increase U-S exports to Australia and the three other nations he's going to
visit... Singapore... South Korea... and Japan. This evening... the president
and Barbara Bush plan to watch New Year's Eve fireworks in Sydney.
South and North Korea today initialed an agreement to DE-nuclearize the Korean
peninsula. The state-run Korean Broadcasting System says the accord will go
into effect in February. K-B-S Radio says five officials from each nation
worked out the agreement in the truce village of Panmunjom.... 35 miles north
of the South Korean capital. K-B-S says the two Koreas' prime ministers will
formally sign the pact in the North Korean capital... Pyongyang... in
mid-February.
81 elderly Taiwanese legislators retired today... ending an era as the year
draws to a close. The elderly members of Parliament have been known locally as
the 10-thousand-year-old Parliament. The 81 were elected more than 40 years
ago on the Chinese mainland. The lawmakers followed Nationalist leader Chiang
Kai-shek to Taiwan in the late 1940s. Chiang came to Taiwan following the
Nationalists' defeat in the civil war with the Chinese communists.
China agreed today to sell Pakistan a nuclear power plant. The Chinese say the
deal is in line with international proliferation safeguards. China has been
criticized for selling nuclear technology to other nations. Two days ago
China's parliament gave the government the green light to sign the Nuclear
Nonproliferation Treaty. The treaty prohibits the spread of nuclear weapons.
China allegedly has helped Pakistan to develop nuclear arms.
The official Vietnam News Agency reports that at least 100 people have been
killed by high winds that lashed the coast of central Vietnam. Nearly 500
people are missing. The tornado-like weekend storm sank 92 boats and
extensively damaged two-thousand other vessels. Most of those vessels were
inhabited by fishermen. The central Vietnamese coast is frequently plagued by
damaging storms... but these usually occur during the late summer and autumn
typhoon season.
In the Philippines... President Corazon Aquino is asking citizens NOT to usher
in the new year with a bang. Every New Year's Eve in the capital of Manila
hundreds of people are killed and wounded by gunfire and exploding
firecrackers. Many Filipinos belive that firing guns into the air and lighting
firecrackers cleanses the evil from the old year. On past New Year's Eves, the
government's warnings have largely gone UNheeded. For that reason... Manila's
hospitals are on full alert... and residents have been warned to stay indoors.
-30- 3113
AUTHOR UMBERTO ECO HOSPITALIZED IN ITALY WITH POSSIBLE HEART PROBLEM
12/31/91
91365u0410  United Press International
RICCIONE, ITALY (DEC. 31) UPI - Umberto Eco, 59, whose novel ''The Name of
the Rose'' was made into a top-grossing film, was rushed to hospital early
Tuesday with a possible mild heart attack, doctors said.
Medical officials said Eco was taken by ambulance from his home at
Montecerignone, on the Adriatic coast about 150 miles north of Romae, with
chest pains, although he was fully conscious and, upon arrival at the hospital
 climbed out of the ambulance without assistance.
Doctors said the author was ''in good condition'' after undergoing diagnostic
tests.
Eco is the author of two novels, ''The Name of the Rose'' and ''Foucault's
Pendulum.'' The former, set in the 14th century in a monastery in northern
Italy, was made into a major film starring Sean Connery.
-30- 1047
FEMA ESTIMATES PAYMENTS OF $323.2 MILLION FOR DISASTER RELIEF IN 1991
12/31/91
91365u0388  United Press International
WASHINGTON (DEC. 31) UPI - The Federal Emergency Management Agency estimates
it will pay out $323.2 million to help people and communities recover from 43
major disasters in 1991.
FEMA Director Wallace Stickney, in a year-end review of the agency's disaster
activities in 1991, said President Bush declared major disasters 43 times for
24 states and four U.S. Pacific Ocean jurisdictions - 20 more declarations
than the agency's historical annual average of 23.
Stickney also said the estimated $323.2 million in disaster aid funds needed
to assist recovery efforts did not include recovery outlays from other federal
agencies, state and local governments, and volunteer organizations such as the
American Red Cross.
While the 1991 disaster declarations nearly doubled the average yearly number,
the year's total only slightly exceeded totals of 38 in 1990 and 31 in 1989,
FEMA said.
Flooding was the most common disaster requiring federal aid, FEMA said, but
hurricanes and typhoons were the most costly.
Eleven major disaster declarations were issued because of five storms,
including Hurricane Bob in August, costing an estimated $125 million. This
compares with projected recovery costs of $107.2 million for 23 declared
disasters where flooding was a main cause of damage.
Hurricane Bob produced major disaster declarations in Connecticut, Maine,
Massachusetts, New Hampshire, New York and Rhode Island.
The year's most devastating hurricane was Val's December rampage in American
Samoa, FEMA said, with a preliminary estimate of some $80 million in FEMA
money, the most for a single recovery in 1991. More than 4,800 families were
left homeless by the storm.
Typhoons accounted for disaster declarations in Micronesia in January and
December and Guam and the Marshall Islands during the last month of the year.
The Eastern sector of the United States was hit hardest by disasters in 1991,
with 22 of the 43 disaster declarations.
Mississippi was authorized for federal disaster aid three times because of
tornadoes and flooding in January, March and May. Similar weather resulted in
two declarations each for Louisiana and Tennessee.
Other major disasters in 1991 were declared for a farm freeze in California,
ice storms in Indiana, Iowa, Minnesota and New York, tornadoes in Kansas and
Oklahoma and wildfires in California and Washington.
FEMA also said there were three disaster declarations each for Maine and
Mississippi and two each for California, Indiana, Iowa, Louisiana,
Massachusetts, New Hampshire, New York, Tennessee, Texas and Washington.
Federal funds also were used to help fight forest fires in Alaska and
Washington.
FEMA gave the following breakdown of disasters and funding for the period
between Jan. 1 and Dec. 15, 1991: Storms and flooding, 18 incidents,
$72,850,000; tornadoes and flooding combined, four incidents, $32,860,000;
hurricanes and typhoons, 11 incidents, $125,059,000; severe winter weather,
three incidents, $44,586,000; tornadoes, two incidents, $6,235,000; fires, two
incidents, $15,348,000.
-30- 3753
FRENCH TELEVISION NETWORK LA CINQ TO DISCONTINUE OPERATIONS, FILE BANKRUPTCY
12/31/91
91365u0378  United Press International
PARIS (DEC. 31) UPI - The French television network La Cinq said Tuesday it
will discontinue operations and file for bankruptcy because its major
stockholders decided to stop funding the money-losing chain.
''This is a day of great sadness,'' network President Yves Sabouret said after
a special meeting of La Cinq's board of directors at which the decision to
stop broadcasting was announced.
Sabouret said that because the major shareholders refused further funding, he
did not have means to continue normal operations.
La Cinq has been operated since 1990 by the Hachette Publishing Co., which
holds a 25 percent share in the network, with Italian financier Silvio
Berlusconi, the original owner, holding another 25 percent.
It was not clear until the last moment whether Hachette President Jean-Luc
Lagardere would file for bankruptcy or let the Superior Council on the
Audiovisual, an independent government body that regulates radio and
television in France, withdraw La Cinq's broadcasting license.
The decision to file for bankruptcy was not without recrimination, with the
Berlusconi group blaming Hachette for the failure.
''It is with regret that as the representative of the Berlusconi group I
learned of the bankruptcy,'' Angelo Codignoni said after the board meeting.
''Hachette assumed operational responsibility for the network in Oct. 1990
without taking account of the experience of the Berlusconi group.''
''Mr. Berlusconi is in shock,'' Codignoni said. ''He has never filed for
bankruptcy in his life.''
But investors were happy at the news, with Hachette stock jumping 7.8 percent
Monday on the Paris Stock Exchange on news that the demise of the La Cinq was
imminent. Further increases were expected Tuesday in the stock, which has lost
17.5 percent of its value since the start of 1991.
Hachette's decision to stop funding the network was based on its own debt of
10 billion francs ($1.9 billion), and the move was quickly followed by the
other major shareholders, including Berlusconi.
Media analysts have long argued that the French market is not big enough for
five television networks because there is neither enough advertising nor
audience to sustain them. Before the decision to close Las Cinq there were two
public and three private television chains in France, in addition to a highly
successful pay channel.
The analysts say that the demise of La Cinq will profit the TF 1 network,
which was privatized by the government of Prime Minister Jacques Chirac when
he came to power in 1986. The death of La Cinq is likely to increase TF 1's
power, which is owed by Bouygues, the world's largets construction firm, and
which is perceived as being strongly opposed to the Socialist government.
Created in 1985 following a law permitting private television networks in
France, La Cinq was originally owned by Berlusconi and French businessman
Jerome Seydoux, who benefitted from help from President Francois Mitterrand's
office to obtain a broadcasting license.
Staggered by the losses and an audience rating of about 10 percent, Berlusconi
sought new investors and in 1987 he became associated with French press
magnate Robert Hersant, publisher of Le Figaro and other newspapers. But
Hersant quickly tired of the continuing loses and gave up most of his stake to
Hachette in 1990.
Earlier this month the network, which lost 1.12 billion francs ($216 million)
in 1991, fired two-thirds of its 820 employees, including three-fourths of its
journalists.
The death of the network will mean the loss of the remaining 244 jobs, but
government officials have refused to intervene, calling it is a matter for La
Cinq and the Superior Council of the Audiovisual.
On Monday Budget Minister Michel Charasse said that while he was sorry to see
the chain die, and would not comment on the quality of its programming, it was
evident that not enough people were watching it.
''Three thousand persons were fired by Michelin and people talked less about
it,'' he said in a reference to the troubled tire manufacturer.
-30- 4526
QUEEN ELIZABETH II HONORS FOUR FORMER BRITISH HOSTAGES
12/31/91
91365u0357  United Press International
LONDON (DEC. 31) UPI - Queen Elizabeth II, in the annual New Year Honors List
published Tuesday, saluted the four British hostages who were held captive for
years in Lebanon and released in 1991.
Terry Waite, John McCarthy, Jack Mann and Brian Keenan each received the
Commander of the British Empire award for their ''courage and fortitude''
while held captive.
The list honored more than 1,000 people in sports, the arts, medicine,
government and politics. They included five peerages, one of the highest
awards, which gives the recipient a seat in the House of Lords.
Some titles in descending order of honor are life peerages, knights or dames,
Commander of the Order of the British Empire or CBE, Officer of the Order of
the British Empire or OBE, Member of the Order of the British Empire or MBE
and British Empire Medal.
Medals are given by the queen at special ceremonies throughout the year at
Buckingham Palace. The honors enhance the prestige of the recipients among
much of British society and carry no financial prize. Knighthood brings the
title sir.
The peerages announced Tuesday included one baroness, Dame Shelagh Roberts,
chairman of the London Tourist Board.
In the arts, opera singer Elisabeth Schwarzkopf was made a dame. The queen
knighted veteran actor Dirk Bogarde.
Professor Magdi Yacoub, pioneer in the field of heart and lung transplants,
received a knighthood. He is a British Heart Foundation professor of cardiac
surgery.
In politics, there was a peerage for Sir Reginald Prentice, 68, believed to be
the only man to have served as a minister in Labour and Conservative
governments.
The announcement of a peerage for Sir David Wilson was accompanied by a
statement that it was expected he would retire from the governership of Hong
Kong before the end of next year.
Knighthoods went to Hugh Annesley, chief constable of the Royal Ulster
Constabulary, and John Banham, director-general of the Confederation of
British Industry.
In the media, Michael Checkland, director-general of the British Broadcasting
Corp., was knighted and BBC Radio 4 announcer Sue MacGregor received the Order
of the British Empire.
There was also an Member of the British Empire award for Mahomed Amin, the
Visnews television cameraman who lost an arm when an ammunition dump exploded
in Addis Ababa, the Ethiopian capital, in June. His soundman John Mathai was
killed, but Amin and BBC reporter Michael Buerk survived.
Amin, who took pictures of the carnage despite his wound, now has an
artificial left arm and is back at work, using a specially modified camera.
British Airways copilot Alistair Atcheson and flight attendant Suzanne Gibbons
received the queen's commendation for valuable service in the air.
The pair saved the life of pilot Tim Lancaster, who was nearly sucked out of
the cabin when a cabin's window blew out at 23,000 feet. The pair grabbed the
captain's legs and stopped him from being pulled out of the jet.
In sport, soccer star Gary Lineker, the England captain, was awarded with the
Order of the British Empire.
A knighthood was bestowed on Colin Cowdrey, the former England cricketer who
helped get South Africa into the World Cup, now chairman of the International
Cricket Council. Tom Finney, former English soccer star and current club
president, also received a Commander of the British Empire award.
Welsh golfer Ian Woosnam, reigning U.S. Masters champion, received an Member
of the British Empire award.
There was an Order of the British Empire for England rugby captain Will
Carling, whose team was runner up to Australia in the Rugby World Cup held in
November. Top athletes Roger Black and Liz McColgan have been awarded Member
of the British Empire honors.
The honors list also included an MBE for James Bond - the 79-year-old James
Bond who helped raise money for a new school wing in the community of Pinner
outside London, not the fictional spy.
Among the 1,000 names on the Honors List, were about 300 British Empire Medals
and nearly 700 people receiving the MBE or above. The proportion of women on
the list was 21.2 percent, more than recent years.
-30- 5075
WORLD NEWS SUMMARY AT 4:38 A.M.
12/31/91
91365u0350  United Press International
(DEC. 31) UPI - Excitement has been rippling through Sydney as Australia's
largest city prepared to greet President and Missus Bush. Air Force One landed
in Sydney a short time ago. The visit is the first by a U-S president in 25
years and the second in Australian history. The Sydney Telegraph- Mirror even
issued a special editon... showing the American flag in color. The headline
read: ''G'day George.'' Observers say media coverage is even greater than when
the British royal family visits.
The Mexican Environment Ministry says air pollution in Mexico City exceeded
so-called ''acceptable'' levels on all but six days of 1991. The environment
ministry says that pollution levels dropped on a few occasions because of
weather conditions. Experts say that ozone- generating cars cause most of
Mexico City's pollution. But geography makes the pollution problem worse.
Mexico City is surrounded by mountains that keep the smog from escaping. The
city's high altitude means its 18 Million residents breath air containing 25
percent less oxygen than air at sea level.
The American Automobile Association says it's tested new car models and has
chosen the best in eight price categories. Two foreign cars tied for first
place in the 35-thousand-dollar to 40-thousand-dollar category. They are the
Lexus S-C 400 and the Acura Legend. In the under 10-thousand dollars
category... the Ford Escort won Triple A's top marks. The Saturn Sports Coupe
is the winner in the 10-thousand-dollar to 15-thousand dollar range. For the
15-thousand-dollar to 20-thousand dollar price range... Triple A says the
Honda Accord is the best. The auto association prefers the Oldsmobile 88 in
the 20-thousand to 25- thousand-dollar category. And for those who can spend
more than 40- thousand dollars on a car... Triple A ranks the Mercedes-Benz
400-E at the top.
The California Board of Prison Terms has rejected a parole request for a
member of Charles Manson's sex-and-drugs cult. In denying Leslie Van Houten's
plea... the board cited the dreadful nature of her crime... her past criminal
record... and drug use. The 42-year-old Van Houten is serving a life term for
murdering a grocer and his wife. Van Houten also was convicted of taking part
in the slaughter of actress Sharon Tate and four others in Los Angeles in 1969.
A Naples, Florida, man and his two children have died in a freak drowning
accident. Police say Evaliere Devariste was working on his truck's engine
while his wife and two children sat inside the cab. When Devariste slammed the
hood... the truck's gears slipped into reverse. The truck went over a curb and
into a pond. Devariste's wife managed to escape. But Devariste drowned trying
to save his children... who also died.
A Wrentham, Massachusetts, magistrate says he woN'T throw the book at
8-year-old James DeFrancisco ... and 27 others who did NOT return their
library books. The defendants were ordered to turn in their 72 overdue volumes
worth about one-thousand dollars. But the magistrate said he would NOT book
them on larceny charges. One of the book keepers said the town ought to be
QUOTE ''spending our money on catching people who need catching'' ... instead
of hunting for bookworms.
-30- 3530
MULTI-MILLION DOLLAR LAWSUIT BY FORMER MISS USA SETTLED
12/31/91
91365u0317  United Press International
DETROIT (DEC. 31) UPI - A federal judge has signed an order dismissing a
multimillion-dollar lawsuit filed by former Miss USA Carole Gist.
Gist claimed her 1990 reign was marred by long days, short pay and unkept
promises of prizes and benefits.
U.S. District Judge Gerald Rosen's order, signed last Friday, bars either side
from giving details of the financial settlement.
Gist, a former Detroit resident who now lives in Midland, was the first black
to win the Miss USA title and the first winner to sue the pageant in its
39-year history.
She had accused pageant officials of defaming her and of violating her civil
rights.
Gist's attorney, Gregory Reed, said Monday the settlement also resolves a
similar suit filed against the pageant in Wayne County Circuit Court on June
21 by Gist and Miss USA 1989, Gretchen Polhemus of Arlington, Texas.
Reed described the settlement in the $18-million lawsuit as ''amicable'' and
said both parties were ''at peace.''
-30- 1316
NEW ENGLAND SKI GUIDE
12/31/91
91365u0301  United Press International
WOODSTOCK, VT (DEC. 31) UPI - New England Ski Areas Council official summary
of snow conditions at ski areas as of 7 a.m. Dec. 31, 1991.
Skiing conditions are subject to change due to weather, skier traffic, and
other factors. Be aware of changing conditions.
Legend: new-inches of new snow snowfall ending in last 24 hours, pdr-powder
snow, pp-packed powder, wet gr-wet granular, lsgr-loose granular, frgr-frozen
granular, corn-corn snow, mgs-machine groomed surface (where two such terms
appear, the former shows conditions on 70 percent or more terrain, and the
latter the next-most-prevalent condition) vc-variable conditions, sc-spring
conditions xx of 00 trails-number of trails open, sm-snow made in last 24
hours, tc-thin cover, wbln-windblown snow, var-variable, ns-night skiing
available, no-not operating, opr-operating.
Connecticut
Mohawk Mtn new pp /lsgr 9- 20 base 10 trails 4 lifts sm ns
Mt Southington new lsgr / 5- 30 base 9 trails 4 lifts ns
Powder Ridge new lsgr / 6- 24 base 8 trails 4 lifts ns
Ski Sundown 1 new pp /lsgr 12- 36 base 16 trails 3 lifts sm ns
Woodbury new pp /lsgr 20- 40 base 8 trails 2 lifts sm
Massachusetts
Atlantic Forest new wetsn / 4- 18 base 1 trails 1 lifts sm ns
Berkshire East new pp / 15- 35 base 8 trails 3 lifts sm
Blandford new lsgr /frgr 5- 10 base 3 trails 2 lifts
Blue Hills new lsgr / 6- 24 base 2 trails 3 lifts
Bousquet new lsgr /pp 10- 45 base 9 trails 2 lifts ns
Bradford new lsgr / 12- 24 base 5 trails 4 lifts sm ns
Brodie Mtn 2 new pp /pdr 6- 60 base 10 trails 4 lifts sm ns
Butternut Basn 1 new pp / 10- 30 base 20 trails 8 lifts sm
Catamount 1 new lsgr / 8- 30 base 12 trails 4 lifts sm
Jiminy Peak 1 new pp /lsgr 12- 48 base 18 trails 5 lifts sm ns
Klein Innsbruck new pp /lsgr 25- 35 base 1 trails 1 lifts
Mt Tom 3 new pp /lsgr 10- 42 base 6 trails 4 lifts sm ns
Nashoba Valley 1 new lsgr / 18- 40 base 9 trails 6 lifts sm ns
Otis Ridge new lsgr /pp 5- 30 base 4 trails 2 lifts sm
Pine Ridge new pp / 10- 20 base 1 trails 1 lifts
Ski Ward new pp / 15- 30 base 4 trails 3 lifts sm ns
Wachusett Mtn 1 new pp /lsgr 21- 41 base 11 trails 4 lifts sm ns
Maine
Big Squaw new pp / 2- 24 base 9 trails 2 lifts sm
Black Mtn new pp /frgr 8- 40 base 2 trails 1 lifts sm
Camden new lsgr /pp 12- 18 base 2 trails 1 lifts sm
Lost Valley new lsgr / 4- 16 base 13 trails 3 lifts sm
Mt Abram new lsgr /frgr 6- 30 base 14 trails 4 lifts sm
New Hermon Mtn new lsgr / 8- 14 base 12 trails 2 lifts ns
Saddleback new lsgr / 12- 36 base 18 trails 4 lifts sm
Shawnee Peak new lsgr /frgr 16- 36 base 11 trails 3 lifts sm ns
Sugarloaf/usa new pp /lsgr 15- 40 base 35 trails 11 lifts sm
Sunday River new lsgr / 20- 40 base 53 trails 11 lifts sm
New Hampshire
Attitash new lsgr / 15- 30 base 15 trails 6 lifts sm
Balsams/wildern new pp /frgr 0- 24 base 9 trails 3 lifts sm
Black Mountain new lsgr / 15- 30 base 12 trails 3 lifts
Bretton Woods new lsgr / 14- 30 base 15 trails 5 lifts sm ns
Cannon Mtn new lsgr / 18- 40 base 18 trails 6 lifts sm
Cranmore new lsgr /frgr 15- 40 base 19 trails 4 lifts sm ns
Dartmouth Skiwa new lsgr /frgr 12- 24 base 3 trails 2 lifts sm
Gunstock new lsgr / 20- 30 base 15 trails 6 lifts sm
Highlands new lsgr / 8- 12 base 3 trails 3 lifts ns
King Pine new lsgr /frgr 12- 18 base 11 trails 4 lifts sm ns
King Ridge new lsgr /pp 6- 36 base 9 trails 5 lifts sm
Loon Mountain new lsgr /frgr 22- 35 base 21 trails 8 lifts sm
Mcintyre new pp / 26- 36 base 2 trails 3 lifts
Mt Sunapee new lsgr /frgr 14- 34 base 12 trails 6 lifts sm
Pat's Peak 1 new lsgr /frgr 4- 16 base 9 trails 4 lifts sm
Ragged Mtn 1 new lsgr /pp 8- 28 base 9 trails 3 lifts sm
Temple Mtn new lsgr / 24- 40 base 7 trails 3 lifts sm ns
Tenney Mtn new frgr / 2- 20 base 4 trails 2 lifts sm
Waterville Vly new pp / 25- 43 base 32 trails 12 lifts sm
Wildcat Mtn 5 new pp /lsgr 24- 44 base 18 trails 5 lifts sm
Vermont
Bolton Valley new lsgr /pp 6- 38 base 12 trails 4 lifts sm ns
Bromley Mtn 1 new lsgr / 8- 27 base 15 trails 8 lifts sm
Burke Mountain new lsgr /frgr 0- 20 base 12 trails 4 lifts sm
Jay Peak new lsgr /frgr 6- 46 base 35 trails 6 lifts sm
Killington new lsgr /frgr 22- 52 base 72 trails 18 lifts sm
Mad River Glen new pp /frgr 4- 8 base 2 trails 1 lifts sm
Maple Valley 1 new lsgr /pp 10- 32 base 3 trails 2 lifts sm ns
Middlebury Snob new lsgr /frgr 6- 40 base 4 trails 2 lifts sm
Mt Snow new lsgr /frgr 15- 36 base 78 trails 20 lifts sm
Okemo Mountain new lsgr / 20- 40 base 52 trails 10 lifts sm
Pico new lsgr /pp 14- 54 base 26 trails 7 lifts sm
Smugglers Notch new lsgr /frgr 12- 36 base 14 trails 4 lifts sm
Stowe new lsgr /frgr 12- 58 base 25 trails 9 lifts sm
Stratton Mtn 2 new lsgr /frgr 20- 30 base 38 trails 12 lifts sm
Sugarbush 1 new pp /frgr 15- 36 base 30 trails 11 lifts sm
Suicide Six new pp / 12- 14 base 8 trails 3 lifts sm
-30- 5664
ANNIVERSARY OF TREATY THAT FORMED SOVIET UNION PASSES WITH VIRTUALLY NO NOTICE
12/31/91
91365u0299  United Press International
MOSCOW (DEC. 31) UPI - The anniversary of a seminal event in Soviet history,
the signing of the treaty that formed the Soviet Union, came and went with
almost no notice.
Weeks ago, when he was still lobbying his disintegrating country for his
proposed Union of Sovereign States, Soviet President Mikhail Gorbachev
expressed the hope the union treaty be signed on Dec. 30, the anniversary of
the original Treaty of Union.
Instead, the anniversary came five days after Gorbachev's resignation, the
Soviet Union was already defunct, and the republic leaders spent the day
meeting in Minsk, the Byelorussian capital, at a summit of the Commonwealth of
Independent States, the alliance that dealt the death blow to Gorbachev's
proposed union.
The 11 republic leaders were too busy with the economic, military and
political affairs of their infant commonwealth to recall the dead treaty of
the old union, a treaty the Russian parliament took time out to renounce on
Dec. 12.
No newspapers, not even the former Communist Party daily Pravda, bothered to
recall the union treaty in their pages.
Only a single television news program featured a brief documentary marking the
date.
''The U.S.S.R. existed for exactly 69 years,'' began the short segment of the
Vesti news show on the Russian channel. ''It is historians who will evaluate
our path. However, now when we enter a new epoch, we should not forget our
past in order at least not to repeat our mistakes. That is why we included our
historic past in our program, Dec. 30, 1922.''
Showing rare archive footage of early Soviet political leaders from the
formative days of the country, the narrator described the events appearing on
the silent film showing the first Congress of Soviets adopting a declaration
and treaty forming the Union of Soviet Socialist Republics.
With Bolshevik revolution leader and Soviet state founder Vladimir Lenin
chairing the first congress, Russia, Ukraine, Byelorussia and the Caucasus
federation signed the Treaty of Union on Dec. 30, 1922.
''We have been a single state for almost 70 years, and what linked us cannot
be broken at once,'' said the commentary, quoting Byelorussian leader
Stanislav Shushkevich saying, ''We are tied together with one rope.''
The lone remembrance of the Soviet treaty concluded by saying, ''During one
year we have covered a path equal to decades. Now the developments replace
each other with a revolutionary speed. We should like to hope that this is for
the better.''
-30- 2871
NORTH, SOUTH KOREA SIGN SIX-ARTICLE DECLARATION DENUCLEARIZING PENINSULA
12/31/91
91365u0290  United Press International
SEOUL, SOUTH KOREA (DEC. 31) UPI - South and North Korea initialed a six-
article joint declaration for denuclearization of the Korean peninsula Tuesday
in what could be another significant step toward peaceful unification of their
land divided 46 year ago.
An official joint announcement following a daylong meeting at the Panmunjom
truce village between working-level officials of the two sides said the
initialed accord documents will be exchanged by Jan. 21.
The agreement will go through ratification procedures in the two Koreas and
take effect when South Korean Prime Minister Chung Won-shik and his North
Korean counterpart, Yon Hyong-muk, get together in the North Korean capital of
Pyongyang starting Feb. 19, the announcement said.
The announcement on New Year's Eve of the agreement on the much- publicized
international dispute over North Korea's alleged attempt to develop nuclear
weapons gave rise to prospects that South and North Korea may finally come to
terms.
The agreement on the nuclear issue bolstered an unprecedented ''Agreement on
Reconciliation, Nonaggression and Exchanges and Cooperation'' between the two
Koreas signed Dec. 13 in Seoul by their prime ministers.
The initialed agreement provided that both sides will not test, manufacture,
produce, receive, possess, store, deploy or use nuclear weapons, will use
nuclear energy only for peaceful purposes, and will not have nuclear
reprocessing and enrichment facilities.
The agreement further provided that the South and North, to verify
denuclearization of the Korean peninsula, shall conduct inspections on targets
agreed on both sides according to the procedures and methods to be set by a
South-North nuclear control committee.
The two sides, according to the accord, will form the joint committee within a
month after the declaration takes effect through the exchange of ratified
instruments.
The initialed accord sidestepped ''thorns'' such as the South Korean demand
for a specific date of when North Korea would sign a nuclear safeguards
agreement with the International Atomic Energy Agency, and a North Korean call
for an end to the annual joint U.S.-South Korea Team Spirit military exercise.
Seoul officials, however, said the agreement on the non-nuclear declaration
ensured implementation of the historic Agreement on Reconciliation,
Nonaggression and Exchanges and Cooperation, which formalizes rapprochement.
-30- 2866
PHILIPPINES BRACES FOR NEW YEAR'S "BATTLE ZONE" RITUALS
12/31/91
91365u0284  United Press International
MANILA, PHILIPPINES (DEC. 31) UPI - Hospitals went on full alert and people
were advised to stay indoors Tuesday in preparation for the nation's bloody
ritual of welcoming the New Year with fireworks and guns.
Hudreds of people in the Manila area are wounded killed each New Year's Eve by
people firing guns into the air and lighting firecrackers, which are believed
to exorcise the evils of the past year.
In a bid to end the annual tragedy, President Corazon Aquino ordered police,
soldiers and civilians not to fire guns indiscriminately Tuesday.
Authorities said police and troops who broke the ban would be dismissed.
Private citizens face criminal prosecution and confiscation of their firearms.
Authorities have offered rewards to people who turn in violators or evidence
leading to the arrest of gunslingers.
But government warnings have largely been ignored in the past. Officials said
hospitals in the Manila area would be fully staffed on alert to handle the
expected flood of emergencies.
On New Year's Day in 1991, 17 people diedy mostly from stray gunshots and
nearly 1,000 were injured in firecracker explosions.
Although the manufacture and sale of pyrotechnics is illegal in the
Philippines, firecrackers have been openly hawked on street corners in Manila
for weeks.
Hundreds of small explosions have peppered the capital nightly since
mid-December and authorities warn the city will sound ''like a battle zone''
Tuesday night.
''The wiser ones will stay home tonight to avoid danger to life and limb,''
wrote newspaper columnist Ariel Bocobo. ''The even wiser say they will sleep
in the basement of their homes to be doubly sure.''
-30- 2008
VIETNAM'S NATIONAL ASSEMBLY APPROVES NEW DRAFT CONSTITUTION
12/31/91
91365u0283  United Press International
BANGKOK, THAILAND (DEC. 31) UPI - Vietnam's National Assembly has approved a
new draft constitution meant to strengthen the market economy while protecting
the communist-ruled country from the mistakes of the Soviet Union, Vietnamese
media reported.
The official Vietnam News Agency said the draft constitution, which is to be
subject to public scrutiny before final passage into law in March, was
approved during last week's meeting of the National Assembly.
The text of the draft charter was published in most newspapers Monday, the
agency said.
The new constitution, which has already gone through three drafts, will be the
nation's fourth constitution since Vietnam declared independence from France
in 1946.
The Communist Party newspaper said the current constitution, enacted in 1980,
was out of date.
''The past 10 years has witnessed many important changes at home and abroad,''
the newspaper said. ''Therefore, the preamble and the contents of some
chapters and articles of this constitution are no longer appropriate.''
The latest draft maintains the political monopoly of the Communist Party, but
confirms the legality of free enterprise and reduces the party's direct power
over the government.
The draft provides for the National Assembly, which includes a number of
representatives who are not members of the Communist Party, to meet more
frequently and gain in power over the state apparatus.
''It institutionalizes the socialist democracy,'' the newspaper said, ''the
mechanism in which the people are the master, the state is the manager and the
party is the leader.''
The constitution implicitly acknowledges the failure of Vietnam's earlier
socialist policies by dropping guarantees of jobs, housing, free education and
free medical care for all.
Unemployment has risen to an estimated 20 percent and demobilized military
officers cannot be provided with adequate housing.
The cash-strapped government, hurt by the cutoff of what once was $2 billion
per year in Soviet aid, has had to start charging for schooling and medical
care.
The constitution expressly provides for a market economy, but under socialist
control. It guarantees private ownership against nationalization.
-30- 2572
WINDS LEAVE 100 DEAD, NEARLY 500 MISSING IN VIETNAM
12/31/91
91365u0281  United Press International
BANGKOK, THAILAND (DEC. 31) UPI - Wind storms lashed the coast of central
Vietnam, killing at least 100 people and leaving nearly 500 missing, the
official Vietnam News Agency reported Tuesday.
''A whirlwind swept along the coast of Quang Ngai Province in central Vietnam,
from 10:00 a.m. to 5:30 p.m. on Dec. 28, causing great damage,'' the official
Vietnam News Agency said.
The tornado-like storm in Quang Ngai, about 425 miles south of Hanoi, killed
at least 78 people, with 298 missing according to initial reports.
The agency said the unusual wind sank 92 boats and heavily damaged 2, 000
other vessels along the low-lying coast inhabited mostly by fishermen.
Two hours earlier, another strong wind struck the coast farther north in Quang
Nam-Danang Province, killing 22 people, the agency reported.
Another 193 people were missing from the storm in Quang Nam-Danang, about 350
miles south of Hanoi, it said.
The wind destroy 99 boats and swept away another 103 in the province, the site
of a major U.S. military base during the Vietnam War, the report said.
It said the wind was about 35 mph to 38 mph, but did not explain how such
relatively low windspeed could have caused such extensive damage.
The central Vietnamese coast is frequently the victim of damaging storms, but
these usually occur during the late summer and autumn typhoon season.
-30- 1713
ELDERLY LAWMAKERS STEP DOWN IN TAIWAN AFTER MORE THAN 40 YEARS IN POWER
12/31/91
91365u0277  United Press International
TAIPEI, TAIWAN (DEC. 31) UPI - The end of the year also marked the end of an
era Tuesday in Taiwan, where 81 legislators elected more than 40 years ago on
the Chinese mainland stepped down.
The move ended what has been called locally the 10,000-year-old Parliament.
Taiwan's legislature bade farewell to its speaker and 80 other lawmakers
frozen in office for more than 40 years in a ceremony that was allowed to go
ahead only after opposition leaders agreed not to disrupt retiring Speaker
Liang Suyung's final address.
In recent years, opposition lawmakers have shouted down ruling party
legislators and started brawls in the parliamentary chamber to further demands
that lawmakers elected in China in 1948 retire.
The lawmakers followed Chiang Kai-shek to Taiwan in the late 1940s after the
Nationalists suffered a devastating defeat in the civil war with the Chinese
communists.
The mainland-elected legislators were frozen in office to give the
Nationalists a guaranteed rubber-stamp majority in the Parliament and were not
subject to electoral challenge.
In the spring of 1990, a constitutional court ordered the elderly delegates to
retire by the end of 1991. The majority waited until the last minute to do so.
In his final speech to the body, Liang praised his colleagues from the class
of 1948 for 43 years of loyal public service.
''Nobody will ever forget the role we've played in bringing about Taiwan's
success,'' Liang, the youngest member of the class of 1948, told the group of
lawmakers.
Liang also urged Taiwan's government never to give up its claim to sovereignty
over all of China. The speech drew warm applause from the 125 ''supplemental''
lawmakers elected in Taiwan after 1975, who will remain in office at least
through 1992.
However, many of these younger legislators do not appear to be interested in
reclaiming China and analysts believe many are intent on maintaining Taiwan's
de facto sovereignty.
Just before Liang approached the podium, Democratic Progressive Party lawmaker
Frank Hsieh told the body he wanted to clarify what the retiring speaker would
say in his final address.
Hsieh pointed out that Liang and his colleagues, known in opposition circles
as ''old thieves,'' were retiring only on orders from Taiwan's constitutional
court, having been pushed out of office by ''the tide of democracy.''
-30- 2824
WORLD NEWS SUMMARY AT 2:49 A.M.
12/31/91
91365u0245  United Press International
(DEC. 31) UPI - President Bush is on his way to Australia for the first visit
there by a U-S president since Lyndon Johnson's in 1967. Australia will be the
34th country Bush has visited since he assumed the presidency three years ago.
Bush has described his trip as a trade mission. But he warned Americans NOT to
expect a boom in exports overnight. Democratic National Committee Chairman Ron
Brown says QUOTE ''George Bush and the economy will spend the New Year
together... down under.''
The American Automobile Association has tested new cars and released a list of
the best in eight price categories. Triple-A rated the cars for braking...
handling... comfort... acceleration... fuel economy... workmanship and more
than 10 other criteria. Six of the winners are imports. Two of the winners are
General Motors' cars... and one is a Ford. There are nine winners in the eight
categories because of a tie between the Lexus S-C 400 and the Acura Legend in
the 35-thousand-dollar to 40-thousand-dollar range.
What do Russian President Boris Yeltsin... talk show host Larry King. ..
General Colin Powell... actor Warren Beatty and President Bush have in common?
All of them were cited on the Fashion Foundation of America's 1991 list of
best-dressed men. Other fashionable men on the list are Arkansas Governor Bill
Clinton... Florida Senator Connie Mack... Broadway choreographer Tommy Tune...
New York realtor Charles Steven Cohen and Leon Hess... owner of the New York
Jets football team.
A spokesman for Scripps Clinic at La Jolla, California, says Mother Teresa is
''seriously ill but making progress.'' The Nobel Peace Prize- winning nun is
suffering from pneumonia and heart trouble. The 81-year- old Mother Teresa
became ill while visiting the Tijuana, Mexico, chapter of the order she
founded. Mother Teresa started the Missionaries of Charity in Calcutta, India.
She became a missionary... leaving her native Yugoslavia for India in 1929.
American AIDS researchers are skeptical about reports out of London that the
drug acyclovir taken with A-Z-T may prolong AIDS patients' lives. In the
British trial... the death rate of AIDS patients who took both drugs was cut
in half. AIDS researchers in the United States say early lab tests showed that
acyclovir may block the H-I-V virus which causes AIDS. But other American
studies on patients with H-I-V infection found NO difference between those
treated with the two drugs and those who took only A-Z-T.
Imelda Marcos has accepted an invitation to take the reins of her husband's
old political party... the New Society Movement. The widow of former
Philippine dictator Ferdinand Marcos says she'll run for president of the
Philippines... if the people want her to. Prominent members of the New Society
Movement have asked the widow to run for president. Marcos says she'll talk to
opposition leaders before making a decision.
-30- 3191
CHINESE PRESIDENT SHANGKUN WARNS OF NEED FOR DOMESTIC STABILITY
12/31/91
91365u0212  United Press International
BEIJING (DEC. 31) UPI - President Yang Shangkun, in a jab at unrest in the
former Soviet Union, Tuesday called for expanding China's economic reforms and
open-door policy but warned the effort would fail if the country slips into
social turmoil.
In a New Year's address carried over state radio, Yang gave an exultant
assessment of China's progress in 1991, claiming all Chinese were living ''in
peace and contentment, and there is a scene of prosperity everywhere.''
He did not mention the unrest in the former Soviet Union, but clearly evoked
the communist leadership's ongoing campaign to portray the economic well-being
of China as more desirable than the political changes in the new republics.
The market-oriented economic reforms and opening to the West launched in the
late 1970s have brought ''tremendous progress and development in China,'' Yang
said.
''China can only accelerate the pace of carrying out reforms and opening to
the outside world, and do better and more solid work in this regard,'' he
added.
''But the reform and open policy can be carried out only under the
precondition of maintaining social stability,'' Yang said. ''Historical facts
show that no country in the world has ever succeeded in reforms while the
society is in turmoil.''
''Social stability'' is the code phrase China's hard-line leaders use to
justify keeping a tight lid on political dissent or any activities deemed to
threaten their grip on power.
Yang also pledged redoubled efforts to build ''socialism with distinct Chinese
characteristics,'' a reference to Beijing's effort to distance its own brand
of communism from the ideology's failings in Eastern Europe and the Soviet
Union.
''Facing a fast-changing international situation,'' Yang said, ''the country
has maintained political stability and social development and made tremendous
achievements in economic development.''
-30- 2231
AZERBAIJANI PRES. AYAZ MUTALIBOV PRAISES MINSK MEETING OF COMMONWEALTH LEADERS
12/31/91
91365t1732  TASS(Soviet)
BAKU (DEC. 31) TASS - "THE MEETING IN MINSK HAS REITERATED THE NEED FOR AND
THE POSSIBILITY OF A NEW FORM OF COOPERATION WITHIN THE POLITICAL SPACE OF THE
FORMER SOVIET UNION," AZERBAIJANI PRESIDENT AYAZ MUTALIBOV SAID ON TUESDAY.
"I THINK ITS MAIN ACHIEVEMENT IS THAT THE LEADERS OF INDEPENDENT STATES SHOWED
THE ABILITY TO OVERCOME DIFFERENCES WITHOUT DETRIMENT TO THEIR OWN INTERESTS,"
MUTALIBOV SAID AT BAKU'S AIRPORT UPON HIS ARRIVAL FROM THE SUMMIT MEETING IN
MINSK.
-30- 749
HUMANITARIAN AID FROM EUROPEAN COUNCIL ARRIVES IN MOSCOW AND ST. PETERSBURG
12/31/91
91365t1730  TASS(Soviet)
MOSCOW (DEC. 31) TASS - THE EUROPEAN COUNCIL WILL ALLOCATE 200 MILLION ECU IN
URGENT AID TO MOSCOW AND ST. PETERSBURG TO ALLEVIATE FOOD SHORTAGES AND HELP
THEIR RESIDENTS LIVE THROUGH THE WINTER.
MICHAEL EMERSON, HEAD OF THE COUNCIL REPRESENTATION IN MOSCOW, MET WITH HIS
RUSSIAN PARTNERS ON TUESDAY TO DISCUSS THE DETAILS OF THE PROJECT.
THE AID WILL INCLUDE OVER 150,000 TONNES OF FOOD TO BE SOLD THROUGH BOTH STATE
STORES AND AUCTIONS. THE FUNDS EXPECTED TO BE RAISED FROM THE PROJECT WILL BE
USED FOR SOCIAL PROTECTION OF LOWER-INCOME PEOPLE. THE FIRST BATCH OF AID HAS
ALREADY ARRIVED IN MOSCOW AND ST. PETERSBURG.
EMERSON BELIEVES THE FOOD AID WILL HELP PEOPLE GET USED TO MARKET PRICES. HE
SAID AN INDEPENDENT GROUP OF EXPERTS HAS BEEN SET UP TO INFORM THE COUNCIL
ABOUT THE RESULTS OF AUCTIONS AND THE DISTRIBUTION OF FOOD AID IN RETAIL TRADE.
-30- 1187
NEW SECRETARY GENERAL BUTROS GHALI HOPES FOR CONSTRUCTIVE ROLE FOR U.N.
12/31/91
91365t1728  TASS(Soviet)
BONN (DECEMBER 31) TASS - BUTROS GHALI, WHO ASSUMES THE OFFICE OF THE UNITED
NATIONS SECRETARY-GENERAL ON JANUARY 1, HAS EXPRESSED HOPE FOR AN EFFECTIVE
AND CONSTRUCTIVE ROLE OF THE UNITED NATIONS ORGANISATION IN THE LIGHT OF THE
NEW SITUATION THAT HAS TAKEN SHAPE IN THE WORLD.
DURING THE COLD WAR YEARS THE UNITED NATIONS WAS UNABLE TO PLAY THE ROLE
ASSIGNED TO IT BY ITS FOUNDERS, BUTROS GHALI SAID IN AN INTERVIEW PUBLISHED IN
THE BONN-BASED NEWSPAPER GENERAL ANZEIGER TODAY.
FOLLOWING THE END OF THE COLD WAR AND THE RAPPROCHEMENT BETWEEN THE UNITED
STATES AND THE SOVIET UNION, THERE HAS EMERGED A NEW SITUATION WHEN THE TWO
GREAT POWERS CHANGED OVER TO MUTUAL COOPERATION, INCLUDING THAT WITHIN THE
U.N. FRAMEWORK, HE SAID.
THE GULF WAR AND THE LIBERATION OF KUWAIT SHOWED THE EFFECTIVENESS OF SUCH
COOPERATION. THAT WAS A TRULY NEW ROLE FOR THE UNITED NATIONS WHEN IT
SUCCEEDED IN OVERCOMING BLOC BARRIERS AND ACTING CONCERTEDLY, GHALI POINTED
OUT.
THAT THE U.N. MANAGED TO PLAY THIS ROLE IS AN ILLUSTRATION OF THE
DEMOCRATISATION OF INTERNATIONAL RELATIONS. ALL COUNTRIES HAVE NOW GOT AN
OPPORTUNITY TO PARTICIPATE IN DECISION MAKING AND IN THE ELABORATION OF
RESOLUTIONS AND NORMS REGULATING THESE RELATIONS, BUTROS GHALI EMPHASISED.
OF COURSE, HE SAID, THIS DOES NOT MEAN THAT ALL INTERNATIONAL PROBLEMS SHOULD
BE RESOLVED AT THE UNITED NATIONS. ON THE CONTRARY, IT IS BETTER WHEN THEY ARE
SETTLED OUTSIDE THE U.N.. REGIONAL DIFFERENCES SHOULD BE RESOLVED AT REGIONAL
LEVEL IF POSSIBLE, THE U.N. SECRETARY-GENERAL-ELECT BELIEVES.
TOUCHING UPON THE TASKS OF THE U.N. UNDER NEW CONDITIONS, BUTROS GHALI SINGLED
OUT NORTH-SOUTH RELATIONS THE IMPORTANCE OF WHICH, IN HIS VIEW, INCREASINGLY
GROWS.
NOW THAT THE COLD WAR HAS ENDED, THE COUNTRIES OF THE NORTH INCREASINGLY TURN
THEIR EYES TO THE EAST. THIS RAPPROCHEMENT MAY HAVE A NEGATIVE EFFECT ON
NORTH-SOUTH RELATIONS. THEREFORE ONE OF U.N. TASKS WILL BE TO ESTABLISH A
BALANCE BETWEEN EAST-WEST AND NORTH-SOUTH RELATIONS, GHALI SAID.
ASKED ABOUT HIS ESTIMATE OF PROSPECTS FOR THE MIDDLE EAST PEACE CONFERENCE,
BUTROS GHALI DESCRIBED AS SUCCESS THE VERY FACT OF THE CONVOCATION OF THIS
FORUM. THERE ARE NOW MORE CHANCES FOR SUCCESS THAN WAS THE CASE IN 1977 WHEN
THE CAMP DAVID AGREEMENTS WERE SIGNED, HE BELIEVES.
THE MIDDLE EAST PEACE CONFERENCE STRENGTHENS THE POSITIONS OF MODERATE FORCES
BOTH IN ISRAEL AND IN ARAB COUNTRIES AND AT THE SAME TIME RESTRAINS
EXTREMISTS. NEVERTHELESS ONE SHOULD NOT UNDERESTIMATE DIFFICULTIES. MUCH TIME
AND EFFORT WILL BE NEEDED TO BRING THE CONFERENCE TO A SUCCESSFUL END, GHALI
STRESSED.
-30- 2995
FIGHTING IN GEORGIAN CITY OF TBILISI CONTINUES ON NEW YEAR'S EVE, REPORT SAYS
12/31/91
91365t1727  TASS(Soviet)
TBILISI (DECEMBER 31) TASS - FIGHTING IN THE CENTRE OF THE CAPITAL OF GEORGIA
CONTINUED TODAY ON NEW-YEAR'S EVE. THE DEFENDERS OF THE GOVERNMENT HOUSE BEGAN
TO USE SMALL-CALIBRE MISSILES, ACCORDING TO THE HEADQUARTERS OF THE OPPOSITION.
FOR THEIR PART, THE ADVERSARIES OF PRESIDENT ZVIAD GAMSAKHURDIA FIRE FROM
BATTALION MORTARS. JUDGING BY THE INTENSITY OF FIRING DUELS, THE SIDES DO NOT
EXPERIENCE A SHORTAGE OF AMMUNITION.
IT HAS BECOME KNOWN FROM INDEPENDENT SOURCES THAT GEORGIAN INTERIOR MINISTER
DILAR KHABULIANI, WHO COMES FROM SVANETIA, HAS TAKEN POSITIONS TOGETHER WITH
HIS FELLOW-COUNTRYMEN FROM THE LEMI ORGANISATION ON THE COMMANDING GROUND NEAR
THE PALACE OF CEREMONIAL RITUALS AND IS PREPARING TO DELIVER A STRIKE AGAINST
THE ARMED DETACHMENTS OF THE OPPOSITION. THE BULK OF GEORGIAN MILITIA DO NOT
INTERVENE IN CLASHES.
ASSERTIONS THAT A CIVIL WAR IS UNDER WAY IN TBILISI ARE UNFOUNDED, A SPOKESMAN
AT THE PRESS SERVICE OF THE PRESIDENT OF GEORGIA TOLD TASS TODAY.
"THIS IS A MILITARY COUP ATTEMPT BEING MADE BY THE NATIONAL GUARD HEADED BY
TENGHIZ KETOVANI AND THE INTRANSIGENT OPPOSITION WHO JOINED IT," THE SPOKESMAN
SAID.
A REPORT FROM THE GOVERNMENT HOUSE HAS IT THAT THE OPPOSITION FORCES ARE
DESTROYING THE PRINT-RUNS OF THE NEWSPAPERS OF THE REPUBLIC'S SUPREME COUNCIL.
THE INFORMATION WAS CONFIRMED BY PRINTING OFFICE PERSONNEL.
HOWEVER, PRESS SERVICE REPORTS ABOUT THE SEIZURE OF THE PERSONNEL AND PATIENTS
AS HOSTAGES AT ONE OF MUNICIPAL MATERNITY HOMES HAVE BEEN REFUTED BY BOTH THE
OPPOSITION HEADQUARTERS AND THE MINISTRY OF HEALTH.
FELONIOUS ELEMENTS, MAKING USE OF THE SITUATION IN THE CITY, COMMIT CRIMES
WITH IMPUNITY.
-30- 2080
RUSSIAN PATRIARCH ALEXY II CALLS FOR UNITY IN NEW YEAR ADDRESS
12/31/91
91365t1725  TASS(Soviet)
MOSCOW (DECEMBER 31) TASS - PATRIARCH ALEXY II OF MOSCOW AND ALL RUSSIA HAS
ADDRESSED THE NATION ON TUESDAY TO WISH ITS RESIDENTS "HAPPINESS, GOD'S
BLESSING, PEACE AND ACCORD".
IN HIS SPEECH BROADCAST BY RUSSIAN TELEVISION, THE HEAD OF THE RUSSIAN
ORTHODOX CHURCH SAID "I THINK THAT THE MOST IMPORTANT FOR US IS TO PRESERVE
PATIENCE FOR EACH OTHER. LET GOD BLESS THE COMING SUMMER IN ORDER THAT WE
COULD OVERCOME THE DIFFICULTIES IN FRONT OF US".
"WE ARE OVERCOMING MANY DIFFICULTIES. WE WON THE GREAT PATRIOTIC WAR BECAUSE
WE WERE UNITED. IF TODAY WE PRESERVE THE UNITY OF OUR PEOPLE, WE WILL ALSO
OVERCOME THE DIFFICULTIES AWAITING US IN THE NEW YEAR," THE PATRIARCH SAID.
-30- 977
ZAMBIA OFFICIALLY RECOGNISES THE RUSSIAN FEDERATION AS SOVEREIGN STATE
12/31/91
91365t1719  TASS(Soviet)
LUSAKA (DEC. 31) TASS - THE GOVERNMENT OF ZAMBIA HAS DECIDED TO IMMEDIATELY
RECOGNISE THE RUSSIAN FEDERATION AS A SOVEREIGN STATE AND ESTABLISH DIPLOMATIC
RELATIONS WITH IT, ZAMBIAN FOREIGN MINISTER VERNON MWAANGA ANNOUNCED HERE ON
TUESDAY.
THE LEADERSHIP OF THE COUNTRY HAS THOROUGHLY ANALYSED THE SITUATION FOLLOWING
THE BREAK-UP OF THE SOVIET UNION AND ARRIVED AT A CONCLUSION ABOUT THE NEED TO
HAVE FULL-SCALE RELATIONS WITH THE STATE OF RUSSIA, THE MINISTER EMPHASISED.
-30- 775
GERMANY RECOGNISES ANOTHER SEVEN FORMER SOVIET REPUBLICS AS PART OF CIS
12/31/91
91365t1718  TASS(Soviet)
BONN (DECEMBER 31) TASS - GERMANY TODAY RECOGNISED ANOTHER SEVEN SOVIET
REPUBLICS THAT ARE MEMBERS OF THE COMMONWEALTH OF INDEPENDENT STATES --
ARMENIA, AZERBAIJAN, BELARUS, KAZAKHSTAN, MOLDOVA, TURKMENISTAN AND UZBEKISTAN
-- AFTER RECOGNISING RUSSIA AND UKRAINE EARLIER.
ACCORDING TO A GERMAN FOREIGN MINISTRY COMMUNIQUE, KLAUS BLECH, THE GERMAN
AMBASSADOR IN MOSCOW, WAS INSTRUCTED TO DELIVER THE INSTRUMENTS OF RECOGNITION
 SIGNED BY THE FEDERAL PRESIDENT, TO THE MISSIONS OF THESE CIS STATES IN THE
CAPITAL OF RUSSIA  TODAY.
TALKS ON THE ESTABLISHMENT OF DIPLOMATIC RELATIONS WITH THEM WILL BEGIN ON THE
FIRST DAYS OF THE INCOMING YEAR.
-30- 887
BANCFLORIDA PLACES DEBT-BACKED ISSUES
12/31/91
91365q0023  American Banker
NAPLES, Fla. (DEC. 31) AMERICAN BANKER - BancFlorida said it has sold $211
million of U.S. Treasury and mortgage-backed securities, which will produce a
pretax gain of about $7.6 million in the quarter ending Dec. 31.
The proceeds were reinvested in a similar amount of securities backed by
balloon mortgages, said the thrift's parent, BancFlorida Financial Corp.
The company made the move as part of a plan to raise capital levels, control
interest-rate risk, and improve liquidity.
-30- 683
FARMER MAC GUARANTEES CONVENTIONAL LOANS
12/31/91
91365q0022  American Banker
WASHINGTON (DEC. 31) AMERICAN BANKER - The secondary mortgage market agency
known as Farmer Mac got off the ground earlier this month by placing its
first-ever guarantee on securities backed by conventional farm mortgages.
The Federal Agricultural Mortgage Corp. guaranteed timely payment of principal
and interest to investors in securities backed by a $112 million pool of
agricultural real estate mortgages.
The loans were pooled by John Hancock Life Insurance Co., which may now hold
the guaranteed securities or sell them to third-party investors.
Farmer Mac was established in 1987 to boost liquidity for farm lenders. Though
it has guaranteed securities backed by government farm mortgages, it has been
struggling for the past two years to get its flagship program moving.
-30- 1000
CONSUMER MOOD HOLDS STEADY; HOUSING GAINS
12/31/91
91365q0021  American Banker
(DEC. 31) AMERICAN BANKER - The Conference Board's index of consumer
confidence held relatively steady in December, the first time in half a year
that the indicator offered a glimmer of hope about the economy.
The monthly index of consumer sentiment, which was compiled in early December,
fell to 52.4 from a revised reading of 52.7 in November, the New York-based
business research group reported.
In another relatively upbeat sign, sales of new homes rose 5.4% in November, a
real estate trade group reported.
GM Layoffs Announced Later
The Conference Board sampling, most of which was completed before General
Motors Corp. announced plans for 74,000 layoffs, found that consumers were
more optimistic about the future than in any recent month.
That result differs from a business confidence survey released by the U.S.
Chamber of Commerce  last week. The index of business sentiment dropped to
39.4 in December, from 60 in June, according to wire reports.
Further dampening the consumer confidence news was a report that personal
bankruptcies in the first three quarters of 1991 had increased 25% from the
same period of 1990. The numbers were released last week by the American
Financial Services Association.
Economists and bankers were thus cautious about interpreting any new figure as
a sign of a turnaround.
"I believe the consumer has taken a wait-and-see attitude," said Buck Harnage,
executive vice president in charge of consumer credit at Florida's Barnett
Banks Inc. They "have philosophically made the decision . . . that we are in a
recessionary period and that's how they're acting."
Expert Not Reassured
Fabian Linden, executive director of the Conference Board's Consumer Research
Center, was similarly cautious. The "news is hardly good enough to be
reassuring," he said in a prepared statement. "Clearly, an appreciable
improvement in the consumer's spirits is a prerequisite for economic recovery."
Heads of household interviewed for the Conference Board survey were about
evenly divided between those who think business conditions will improve within
six months and those who say they will deteriorate or stay about the same.
That contrasted with the wider curtain of gloom seen in November.
A report Monday from the National Association of Realtors  of a 5.4% rise in
sales of existing homes during November.
The jump to 3.33 million units sold was the largest housing gain reported in
nine months. Economists attributed the increase to low interest rates on home
mortgages.
"I think housing is on an upswing, but I don't think it's anything like a big
bull market," said Robert Van Order, chief economist at the Federal Home Loan
Mortgage Corp.
The Conference Board said that 2.9% of consumers planned to buy a home in the
next six months, the same proportion as in November.
Only 5.8% said they would buy an automobile in coming months, down from 6.6%
in November.
The chief constraint appears to be gloom over job opportunities.
Only 4% of consumers reported that jobs are "plentiful"; 48% called them "hard
to get." Both figures are somewhat more negative than in the preceding month.
Boat Loans at Marine Unit
Despite the negative notes, some lenders saw bright spots.
James M. Meere, vice president of Marine Midland Services Corp., a
Florida-based consumer finance unit of Marine Midland  Banks Inc., said he has
seen a big boom in new boat loans in recent days. Marine Midland is a
subsidiary of Hongkong and Shanghai  Banking Corp.
"Maybe we've given Joe Consumer so much bad news that he's not going to listen
to us anymore," said Mr. Meere.
-30- 4033
BACK-OFFICE MENUS AIM TO CUT BUDGET FAT
12/31/91
91365q0020  American Banker
(DEC. 31) AMERICAN BANKER - Bankers caught up in the recession are accepting
the irreducible logic of "smaller is beautiful" for their back offices, and
1992 should reveal whether they are able to stay on those fat-reducing diets.
The past 12 months proved a turning point for banks' operations and technology
units. Some of the largest banks announced mergers that were driven largely by
anticipated savings from combining operations.
Other institutions turned their back offices over to technology services
companies that promised to help slash back-office costs. The trend, which came
to be known as "outsourcing," encompasses all types of such spinoff deals.
Wheels in Motion
Some of the largest outsourcing contracts in the industry's history were inked
in 1991, and consultants say the trend will continue.
But while the wheels for cost-cutting have been set in motion, it remains to
be seen if bankers will realize their goals. Much depends on how quickly banks
- especially those involved in mergers - move to reduce staffs, merge
facilities, and develop common systems.
"The conventional wisdom is: If you don't try to capture the savings early on,
you won't get them at all," said George Rusznak, vice president and head of
the banking practice at CSC Index Inc., Cambridge, Mass.
Selective Pink Slips
As a result of the changes, thousands of bank operations and technology
employees will face layoffs in 1992, but consultants say that most technically
skilled staffers will be spared.
At the same time, automation will allow banks to deliver more pink slips in
1992 - 100,000, according to one of the more extreme predictions, by the New
York-based consulting firm Cresap.
The brunt of layoffs will be borne by tellers, clerical staff, and platform
personnel, according to Cresap, a unit of Towers Perrin.
On a more positive note, banks' moves to streamline should give new life to
languishing self-service technologies such as home banking via PC or telephone
 enhanced automated teller machine services, and debit card point-of-sale
systems, observers predict.
Merger Goals Difficult
Despite bankers' grim resolve, there is already some evidence that they have
underestimated the complexities of managing large-scale system consolidations
and outsourcing projects, causing delays in cost-cutting.
"The most meaningful savings are the ones they will realize in the first 12 to
18 months after the merger," Mr. Rusznak said.
Emerging megabanks such as Chemical Banking Corp., BankAmerica Corp., and the
NCNB Corp. successor, NationsBank, have projected large cost savings through
systems consolidation.
Chemical, slated to merge with Manufacturers Hanover Corp., hopes to save $100
million in the first year and another $100 million over the next three years.
The bank originally planned to merge its lead institutions by Jan. 1, but had
to push the date to mid-1992 because executives realized they needed more time
to combine systems. The new Chemical must now move quickly to meet its cost
savings goals.
Of $1 billion in total expense reductions that BankAmerica estimates it will
save in its merger with Security Pacific Corp., about $400 million will come
from computer systems consolidation, branch closing, and other operational
redundancies.
NCNB, which will combine with C&S/Sovran Corp., hopes to eliminate $350
million in systems expenditures over three years.
Bankers and consultants say that the first order of business is to remove
duplicate systems in business units - such as funds-transfer, consumer-banking
 and trust departments - reduce staff, and close operations centers.
This is easier said than done, because systems-consolidation decisions are
often political and technical hornet nests. Technicians are reluctant to give
up systems they have nurtured over the years - partly out of loyalty but also
because eliminating them might mean the end of their jobs.
For example, 25 of 32 major computer systems for the new Chemical have been
chosen. But the system that will support consumer banking, a key area, has not
been chosen, say technology executives at Hanover. A decision is expected
after the first of the year - several weeks behind schedule.
Outsourcing On The Rise
Cost-cutting imperatives are also largely responsible for the upsurge in the
number of large banks outsourcing their data processing.
The need to raise capital and get out from under marginally profitable
transaction-processing businesses has also pushed some large institutions to
farm out systems to nonbank specialists.
The largest bank outsourcing deal occurred in September when Continental Bank
said it would turn its data center and technology operations over to
International Business Machines  Corp. Industry sources estimated the contract
at more than $500 million over 10 years.
Barely a week later, NCNB said it would outsource to Perot Systems Corp. The
agreement is expected to encompass the merger of NCNB and C&S Sovran, which
will rank among the top four holding companies.
Hopeful Year for Outsiders
Bankers and consultants expect more institutions to turn to outsiders for
technology management.
"I suspect that several banks bigger than us will outsource over the next
three years," said Donald C. Parcells, executive vice president at First
Fidelity Bancorp., Lawrenceville, N.J. The $30 billion institution signed a
$450 million outsourcing agreement in 1990 with EDS Corp.  of Dallas, a
General Motors Corp. subsidiary.
The outsourcing trend will continue because banks - contending with a myriad
of regulatory and business condition changes - cannot afford the investments
they need to make in technology to stay ahead, experts say.
"The banking industry needs to make major structural changes to compete with
other financial services companies," says Mr. Rusznak. "They will lack the
capital and the competence to implement those changes."
Outsourcing will not be confined to data center operations. Experts predict an
increase in outsourcing agreements for specific business systems, such as
mortgage servicing, trust, and credit card processing.
Employment
However, the move to farm out data-processing tasks will affect only 8,500 to
12,000 employees out of the 100,000 jobs to leave banking next year, according
to Cresap.  About 50,000 will be tellers and other retail support staff, the
firm estimates.
"I suspect that on a case-by-case basis, the technologists are being let go a
bit more slowly than employees in other parts of the organization," said Chick
Bisberg, president of technology search firm Two Party Systems, based in
Livingston, N.J. "I don't see them as being quite as vulnerable as other
departments."
Technologists are still perceived as necessary to maintain the underpinnings
that enable banks to maintain their competitiveness.
"Technology is a relatively small part of the layoffs," according to David M.
Partridge, director of Cresap's financial institutions practice. "Data
processing is the future: We have to lift the house up and slip a new
foundation in."
Mr. Partridge estimates that another 20,000 and 25,000 support staff will be
laid off as the result of mergers that have already been announced.
Streamlining for Speed
Many of these will be back-office staff; a smaller number will be
technologists. Streamlining, and reengineering of work flows, will affect
another 15,000 to 18,000 employees, according to Cresap. These numbers will
include big staff reductions in labor-intensive areas such as check
processing.     Those systems managers who have maintained strong hands-on
skills and can communicate well with business managers and understand how
technology affects business will have the best shot at finding and keeping
their jobs. Programmers and business systems analysts will still be in demand,
consultants say.
And while the skills required by banks are changing somewhat, banks will still
need to hire programmers proficient in Cobol, a computer language popular in
the 1970s and 1980s for writing business software."Cobol programmers are not
yet a dying breed," Mr. Bisberg said. "So many systems are built in Cobol that
banks cannot afford to change them."
But the hottest demand is for programmers proficient in "C" - a newer language
used in local-area network and data communications, in client server computing
 and on trading floors.
Banks are also interested in technologists with skills in areas such as Case
tools, which can help reduce backlogs of applications quickly; and artificial
intelligence/expert systems, which can help fight fraud and are becoming less
expensive to develop.
Self-Service Systems To Get Boost
According to Cresap's Mr. Partridge, banks will begin to push customers
aggressively in 1992 to use automated teller machines rather than to wait in
line to talk to a human. Transactions involving teller personnel cost about
2.5 times more than ATM transactions. "1992 is going to be the year when banks
push hard on this," Mr. Partridge said.
Over the past 10 years, the ATM has grown from a banking curiosity to a
durable workhorse that handles nearly 50% of banks' basic consumer
transactions. Despite that number, the machines have yet to fulfill their
promise of reducing branch overhead costs by displacing teller-line
transactions.
In 1991, a number of financial institutions, including Seattle First National
Bank and Maryland National Bank, attempted with some success to turn their
ATMs into revenue-generators by rigging them to sell stamps and other
products. To reach the same end, other banks, such as First Interstate of
Nevada, simply jacked up transaction fees to new heights - $1.50.
Yet, just as it seemed the banks would start making some large steps toward
ATM profitability this year, trouble struck in the form of new legislation.
Regulations for the Americans with Disabilities Act, written in July, required
financial institutions to make substantial portions of their ATM sites
accessible to people with disabilities by Jan. 26.
Accommodating the Disabled
Renovations to ATM sites will typically cost about $500 to $4,000 per site,
according to the American Bankers Association. And the act could affect as
many as 50% of the ATMs in the United States, or about 40,000 machines.
Whether from altruistic motives or fear of lawsuits, most financial
institutions are beginning to make the necessary moves to accommodate the
disabled. However, the unexpected costs of the renovations will put a squeeze
on the ATM profits of many institutions for some time to come.
Perhaps as a reaction to these difficulties, a number of institutions are
expressing renewed interest in alternative ways to deliver retail products.
Home banking - which some observers thought died mercifully when a number of
major projects flopped in the '80s - experienced a modest rebirth in 1991.
This past year, several institutions, including Huntington Bancshares and
Manufacturers Hanover Trust Co., initiated new bank-at-home programs. And many
experts expect that other institutions will follow in the coming year.
'Irresistible Last Frontier'
At the Bank Administration Institute's retail delivery systems conference in
early December, Fred White, a principal at First Annapolis Consulting,
remarked: "Clearly there have been a number of false starts," in home banking,
"But in many ways it represents the irresistible last frontier for retail
banking - I don't think (bankers) will be able to stay away for long."
Home banking solutions range from full-blown programs that require consumers
to have personal computers in their homes to the so-called "smart phone"
applications being tested by Citicorp and Huntington Bancshares. Smart phones
are telephones equipped with display screens on which consumers can perform
transactions.
While the jury is still out on whether consumers want to bank from their homes
 bankers are aggressively pushing technology so shoppers can use debit cards
at retail merchant locations.
Some Success Stories
Nearly 75% of credit card payments at retailers and merchants are now
processed electronically, and that success is encouraging to bankers who would
install similar programs for debit card use.
The initial successes for debit cards have come in supermarkets and similar
retail sites. These programs, in which consumers use their ATM cards instead
of cash to pay for groceries, have been spearheaded by regional ATM networks.
As anticipated, debit cards are now going national, with MasterCard
International and Visa U.S.A. rolling out Maestro and Interlink, their
respective on-line debit programs.
Matt Barthel, Karen Gullo, and Jeanne Iida contributed to this report.
-30- 13716
BANC ONE PLANS TO BUY NO. 3 BANK IN COLORADO
12/31/91
91365q0019  American Banker
(DEC. 31) AMERICAN BANKER - Banc One Corp. said Monday it has agreed to
acquire Affiliated Bankshares of Colorado Inc. in a stock swap valued at about
$387 million.
Affiliated, with 27 banking subsidiaries and $2.8 billion in assets, is the
third-largest banking organization in Colorado.
The agreement is consistent with Banc One's strategy to be one of the top
three banks in markets it enters through acquisition.
Fertile Ground
A spokesman for Banc One said the company is interested in making further
acquisitions in economically recovering Colorado, the eighth state in its
banking empire.
The signing of the letter of intent with Affiliated capped a busy year for
Banc One. The Columbus, Ohio, company made 12 acquisitions, seven of which are
still pending.
Banc One's stock price gained 75 cents Monday to $51.625. Affiliated's stock
jumped $4.875 to $30.625, increasing the indicated value of the deal by $9
million since Friday's close.
Under terms of the transaction, Banc One will exchange 0.66 share of its stock
for each share of Affiliated. Monday's closing price represented a premium of
1.8 times Affiliated's book value of $18.88 a share.
Analysts predicted that Affiliated's profits would offset any dilution that
would result from the issuance of new Banc One shares.
Enhanced Profitability Seen
"It is a good deal for Banc One," said Kenneth Puglisi, an analyst at Keefe,
Bruyette & Woods Inc. "They should be able to make Affiliated more profitable,
as they have with their other acquisitions."
In the first nine months of 1991, Affiliated earned $13.3 million,
representing a modest 0.66% return on assets and 8.9% return on equity.
Still, the company has come a long way since the dark days of Colorado's
economic slump. It earned $9.8 million in 1990 and $8 million in 1989, but
lost $6.5 million in 1988.
Nonperforming assets peaked at about 8%, said Mr. Puglisi, but are now less
than half that.
Strong Retail Franchise
Affiliated "is a good retail and middle-market bank," said John Russell, the
Banc One spokesman. "It gives us a good beachhead in the Rocky Mountain
states."
A subsidiary called Banc One Colorado Corp. will be formed to oversee the
operations of Colorado affiliates, said John B. McCoy, chairman and chief
executive of Banc One.
The Ohio company has $46.2 billion in assets and 50 banks with 823 offices in
seven states: Illinois, Indiana, Kentucky, Michigan, Ohio, Texas, and
Wisconsin.
The deal is expected to be completed in the third quarter and is subject to
regulatory and shareholder approval.
-30- 2950
CARD ISSUERS WIN PANEL'S BACKING FOR ATTACK ON PHONY TELEMARKETERS
12/31/91
91365q0018  American Banker
WASHINGTON (DEC. 31) AMERICAN BANKER - A House Government Operations
subcommittee has endorsed a call from the credit card industry for a law to
combat telemarketing fraud.
In a report released Sunday, the panel said it should be illegal for a
merchant to process credit card transactions for other businesses without the
express permission of its processing bank.
The report could mark the beginning of a legislative effort to attack a
burgeoning problem that the MasterCard and Visa associations say costs their
member banks about $200 million a year.
According to the report, financial institutions are being subjected to
unreasonable risks by telemarketers and their co-conspirators - legitimate
merchants who process their sales through the credit card networks.
In these crimes, marketing companies make illicit, high-pressure sales pitches
to cardholders over the telephone, and cooperate with the so called collusive
merchants to obtain the funds.
"It is apparently not unusual for a merchant to process,  or 'launder,'
$100,000 in sales drafts in one day for a very active telemarketer, on which
the merchant might earn $6,000 to $15,000," the House report noted.
Financial institutions have become reluctant to process credit card
transactions for telemarketers because of the growing risk of fraud, the
panel's study said.
The Visa organization, for example, allows chargebacks on transactions for up
to 18 months, and the merchant bank often ends up taking a loss on
transactions tied to telemarketers that have long since gone out of business.
Middleman in Jeopardy
A merchant that serves as middleman for clearing the fraudulent transactions
could be bankrupted by such losses.
Visa U.S.A. officials told the House panel that at least one institution,
Gateway National Bank of Phoenix, failed because of telemarketing losses.
Other institutions, including  Citizens Fidelity Bank and Trust Co.,
Louisville, Ky., and the failed CenTrust  Bank of Miami were said to be
seriously affected by losses from chargebacks on telemarketing transactions.
The report, which was prepared by the Government Operations subcommittee on
commerce, consumer, and monetary affairs, also recommended that it be made a
criminal offense to request a customer's credit or debit card number without a
purchase order. Task Force Suggested
The panel said that a task force of representatives from the bank regulatory
agencies, credit card companies, and others should be established to address
aspects of telemarketing fraud dealing with financial institutions.
Visa and its bank card competitor, MasterCard International, have repeatedly
looked to the courts to help them battle telemarketing fraud. In April, they
jointly sued the operators of a nationwide network, asserting that they used
phony offers for low-rate credit cards to bilk consumers out of millions of
dollars.
The organizations hoped that the suit - the eighth of its kind - would serve
as a deterrent to con artists and focus Congress' attention on the
telemarketing problem.
-30- 3451
COMMUNITY RELATIONS: PUGET SOUND'S STRATEGY: PUBLICIZE LOW RATING
12/31/91
91365q0017  American Banker
(DEC. 31) AMERICAN BANKER - It's not uncommon for a bank to shout about a
stellar regulatory rating that it wins for its community lending activities.
It's quite another thing for a bank to advertise a low score.
But Puget Sound National Bank of Tacoma, Wash., issued a press release last
week announcing that it received a grade of "needs to improve" under the 1977
Community Reinvestment Act, which mandates that banks make loans and other
commitments to low-income communities.
The rating is the second-lowest of four ratings that range from "outstanding"
to "substantial noncompliance."
By publicizing the rating, Puget Sound apparently sought to preempt criticism
while implicitly criticizing the criteria used to make the rating.
Marketed as Local Institution
Puget Sound, the largest independent commercial bank in Washington, has long
marketed itself as a community-minded institution with a strong local
orientation.
For example, it promoted its environmental conscience with a program that
contributed money to a fund protecting the Puget Sound whenever a customer
used its automated teller machines.
Focus of Exam Questioned
Nevertheless, the bank said that regulators from the Office of the Comptroller
of the Currency faulted its CRA record.
The problem, the bank said, is not the lack of lending in low-income
neighborhoods but the failure to establish a sound administrative structure to
document its CRA activities.
"The 'needs to improve' is certainly not indicative of our community
reinvestment activities or impact or interest in the community," said David
Miller, Puget's community reinvestment officer. "It's a reflection of the
OCC's focus on technical issues and documentation."
Puget Sound thus joins a growing roster of banks that have been criticizing
regulators for focusing more on technicalities than on substance when
evaluating CRA compliance.
Nevertheless, Puget Sound is taking the regulatory admonition to heart.
Besides hurting the bank's pride, a low CRA score poses practical problems.
Takeovers Are Pending
Puget Sound's parent company, Puget Sound Bancorp, has two pending
acquisitions, and regulators frequently curtail expansion until CRA records
improve.
"We don't know whether the current examination findings are going to hold up
that merger acquisition," Mr. Miller said. "I guess time will tell."
Mr. Miller said Puget Sound is improving the way it determines and documents
community needs. It also plans to ask the Comptroller's office to return early
next year to take another look at its CRA program.
Documentation Is Vital
Puget Sound's action again shows that - whether banks like it or not -
documentation is "the real substance of CRA because that's the way the
examiners see it," said Jeanine Catalano, a San Francisco-based CRA consultant
and a former regulator.
Banks, she said, must have a written plan for their community reinvestment
programs, a detailed record of how they ascertain community needs, and a
record of how they market their lending programs. Otherwise, they may not
receive full credit for their programs.
-30- 3530
CHEMICAL, HANOVER MERGER SET FOR TODAY
12/31/91
91365q0016  American Banker
(DEC. 31) AMERICAN BANKER - Chemical Banking Corp. and Manufacturers Hanover
Corp. will merge at 5:01 p.m. today, barring any unforeseen calamity.
The union, which will be trumpeted in double-page ads in several newspapers on
Thursday, will follow the filing this afternoon of a two page merger
certificate in Dover, Del., where the new company will be incorporated.
Doubts Put to Rest
Chemical chairman Walter Shipley and Hanover chairman John McGillicuddy have
already signed the document, said John Stefans, communications director of the
new Chemical.
The documents put to rest doubts raised a few months ago about completion of
the merger before yearend.
The banks calmed regulators' concerns by resolving to quickly raise at least
$550 million of equity to replace restructuring expenses related to the merger
and by agreeing to spend $750 million over five years for lending in
low-income communities.
The new Chemical plans to issue a press release announcing the merger this
morning. The companies' lead banks will not merge until midyear, by which time
they will have streamlined most of their back-office operations and systems.
The new Chemical will be the nation's second-largest bank holding company,
with about $139 billion in assets, behind $224 billion-asset Citicorp.
Chemical, however, is expected to quickly fall into third place after
BankAmerica Corp. and Security Pacific Corp. merge into a $196 billion asset
company early in 1992.
The new Chemical ad will show a businessman scaling monumental columns of the
numeral one. "This isn't the last time we'll be first," the ad says.
It also reveals Chemical's new logo, which is already stamped on holiday
appointment books sent out by the bank: the Hanover striped-square emblem next
to the Chemical name.
Hanover and Chemical "were the first money-center institutions to see the
future, and act on it," the ad gloats. "Our financial strength and staying
power are beyond doubt."
-30- 2269
CAPITAL MONITOR
12/31/91
91365q0015  American Banker
(DEC. 31) AMERICAN BANKER - U.S. Bancorp  filed a shelf registration to issue
as much as $300 million in subordinated debt.
The Portland, Ore., banking company  will use about $150 million of the
proceeds to redeem high-coupon debt it has called for redemption Jan. 24.
The balance of the proceeds will be used for general corporate purposes.
-30- 514
CAPITAL: LIMITS ON FED'S DISCOUNT LOANS PROMPT FEARS
12/31/91
91365q0014  American Banker
(DEC. 31) AMERICAN BANKER - By limiting the Federal Reserve's ability to lend
via the discount window, the banking reform law has poked a hole in the
proverbial safety net.
The new law limits how long a district Federal Reserve bank can issue extended
credit to a bank.
It also makes the Fed liable for some costs of expensive resolutions at banks
that had borrowed from the discount window while ailing.
In effect, the bill makes it harder for the central bank to prop up troubled
institutions while they work out credit problems. The restrictions are
designed to make banks more conscientious about avoiding high-risk lending
that could erode asset quality.
"It forces all bankers to raise their prudence yet another notch," said Neil
Soss, chief economist at First Boston  Corp. If you are a banker, he said,
"your ability to rely on the safety net is reduced."
A Less Flexible Fed
But the provision also limits the Fed's flexibility in dealing with troubled
banks - a change that some experts find ominous.
No Federal Reserve bank can lend to a single bank for more than 60 days out of
any 120, unless top regulators or the Federal Reserve chairman certify that
such lending is appropriate.
In addition, the Federal Reserve will have to pay for any loss the Bank
Insurance Fund incurs as a result of discount window lending - that is, any
losses beyond what resolution would have cost if the Fed's lending had not
sustained the bank so long.
Weeks, Not Months
These changes still allow the Fed to lend to troubled banks. An institution
with appropriate collateral can borrow from the central bank for several weeks
 just as before.
But a Federal Reserve bank is no longer able to sustain banks for months
without specific authorization.
The bank unit of Southeast Banking Corp., for example, had reportedly obtained
extended credit from the Federal Reserve Bank of Atlanta for nearly two months
before its principal assets were sold to First Union Corp.
At one point, Southeast's borrowings from the Fed neared $500 million. If
Southeast were failing today, it would have a harder time obtaining such
liquidity support.
By making it harder for banks to survive on liquidity lifelines from the Fed,
the bill tries to hasten the cleanup that the industry needs.
High Cost of Delay
"The overall cost of (some) failures could have been mitigated if the Fed
hadn't put a Band-Aid on a cancer, so to speak," said Jan Hurley, a senior
market analyst at Chase Manhattan  Corp.
Still, some experts worry that the new limits on the Fed's discretionary
ability to lend could cause problems down the road.
"It certainly sounds like it's chipping away at some of the Fed's independence
" said Stephen Gallagher, a money market economist at Kidder, Peabody  & Co.
Politically Influenced Aid
Political considerations could start to influence which banks are allowed to
obtain long-term Fed loans, according to David Jones, chief economist at
Aubrey G. Lanston.
That's because regulators, not just central bank officials, would be able to
vote on whether to extend loans to troubled banks for more than 60 days.
Discount window lending "becomes a force through which credit can be directed
to certain parts of the economy," said Mr. Jones. "If regulators and Congress
get into this business, they're going to have all sorts of vested interests."
In addition to changing the rules for extended borrowing from the discount
window, the banking reform law makes it possible for securities firms to
borrow from the window in extreme circumstances - for example, in a period of
extreme market stress such as occurred in October 1987.
Such borrowing becomes possible only if five Fed governors vote to support the
lending and if the securities firm has adequate collateral.
-30- 4241
STOCKS: NEW ENGLAND BANKS, THRIFTS STARTING TO GET SOME NIBBLES
12/31/91
91365q0012  American Banker
(DEC. 31) AMERICAN BANKER - This is bottom fishing with a 300-foot line.
Some investors and analysts are turning bullish on banks and thrifts in, of
all places, New England.
What abounds, they say, are thrifts with plenty of capital, dwindling bad
loans, and stocks that trade at less than 50% of book value - a better
investment scenario than California, for example.
Stocks Are 'Very Cheap'
"The banks and thrifts here are very cheap, and nonperforming assets are
coming down," said Bruce Herring, who runs Fidelity Investments's Select
Financial Services Fund and has been investing in the region for the past
year.     Fidelity already owns large chunks of stock in Shawmut National
Corp. and Bank of Boston Corp., two banks that may be on the mend now that
they have reduced nonperforming loans.
Other portfolio managers are reaching the same conclusion about thrifts. Some
Worth Watching
In the past month, Gerard Cassidy, an analyst with Tucker Anthony in Portland,
Maine, has issued buy recommendations on two small Massachusetts thrifts,
Grove Bank and Neworld Bancorp.
In addition, Mr. Cassidy says 11 other New England thrifts are worth watching.
The list includes BankWorcester Corp., Society for Savings Bancorp, Sterling
Bancshares, and Eastern Bancorp. All but one of the 11 sell for less than half
of stated book value.
Profits Seen for '92
"These thrifts are in the process of getting healthy," said Stanley T. Wells,
an analyst at Keefe, Bruyette & Woods Inc. in Hartford, Conn.
Mr. Wells expects about half the thrifts he follows to lose money this year,
but in 1992 he projects a marked improvement with or without a turnaround of
the regional economy.
The lowest discount rate in 27 years should help, by widening margins and
stimulating new loan demand.
Meanwhile, some of these thrifts have sliced nonperforming loans and added
productive assets at minimal risk by cutting deals for seized thrifts.
A few already have capital ratios that exceed 10%, more than twice the
required level.
"That's what makes these companies attractive," said David Ellison, who runs
Fidelity's Savings and Loan fund and has invested in more than a dozen local
thrifts. "You can afford to wait six months for a profit - these guys don't
have to raise capital and dilute you to get back to normal earnings."
-30- 2694
DEALS: CAROLCO SEEKS TO CALL DEBT
12/31/91
91365q0011  American Banker
(DEC. 31) AMERICAN BANKER - Carolco Pictures Inc. offered Monday to
repurchase high-cost junk debt at a steep discount, in a move that hinges on
cooperation of the company's banks.
Announcing the offer, Carolco said that it remains in violation of various
covenants in its credit agreements, and continues to seek waivers from its
banks. Failure to obtain the waivers could derail the offering.
Carolco has about $172 million of bank debt outstanding, under two separate
revolving credit lines.
The company's principal banks are units of Bankers Trust New York Corp.,
Chemical Banking Corp., and Credit Lyonnais Bank Nederland.
A Critic's Perspective
Some critics likened the offer to the "Rambo" films the company produces.
"They're being heavy handed," said Steven Hill, an analyst at Sutro & Co. in
San Francisco.
In the offer, Carolco offered to pay 65 cents on the dollar for all of its
outstanding 14% senior notes due 1993.
As of Dec. 24, there was $67.5 million principal amount of the notes
outstanding.
If less than 100% of the notes are tendered, Carolco would pay at least 66
cents on the dollar, but no more than 85 cents on the dollar, for a majority
of the notes, in what essentially would amount to a Dutch auction.
In recent months, the notes have traded as high as par, and as low as 52.
December Low Point
The notes took a pounding earlier this month, after the bankruptcy filing of
another film producer, Orion Pictures.
In its offering document, Carolco warned that it, too, could wind up in
bankruptcy court if the banks accelerate payment of the debt as a result of
the technical defaults.
But if Carolco is trying to use scare tactics to persuade noteholders to
tender at distressed prices, Sutro's Mr. Hill does not think it will work.
"They obviously  have some serious problems, but they're going to be all right
" he said of the company.
Negotiations in Progress
The funds to repurchase the notes are held in an escrow account with one of
Carolco's banks. As of Dec. 15, there was $44.2 million in the account.
Carolco can withdraw the funds up until Jan. 30, 1992, unless the company's
lenders accelerate payment of the bank debt.
Carolco is currently negotiating with its banks to obtain waivers of the
defaults under its credit agreement.
Officials at Bankers Trust didn't return phone calls for comment on the talks,
while officials at Chemical and Credit Lyonnais were not immediately available.
-30- 2816
OTS ASKS U.S. COURT FOR THE RIGHT TO THRIFT FILES OF ERNST & YOUNG
12/31/91
91365q0010  American Banker
WASHINGTON (DEC. 31) AMERICAN BANKER - The Office of Thrift Supervision,
revealing that its probe of savings and loan auditors is wider than previously
reported, asked a federal court here Monday to force Ernst & Young to produce
documents detailing work the accounting firm did for 23 failed savings and
loans.
The OTS is investigating whether the accounting firm is liable for any of the
government's losses from failed thrifts, including Lincoln Savings and Loan
Association, Irvine, Calif.; Silverado Banking, Savings and Loan Association,
Denver, and Vernon (Tex.) Savings and Loan Association.
Subpoena in June
The regulator has also been probing loans to partners of KPMG Peat Marwick by
its thrift clients.
The OTS issued an administrative subpoena in June, giving Ernst & Young until
Sept. 16 to produce work papers, diaries, and other documents from audits of
failed S&Ls. An OTS official rebuffed the firm's effort to kill the request.
 According to an OTS press release, Ernst & Young "has failed to produce a
single piece of paper required by the subpoena and has offered no excuse for
its failure to comply."
"We believe the subpoena is invalid for a number of reasons, and we plan to
file a response," said Mort Meyerson, director of commiunications at Ernst &
Young in New York.
The OTS filed its petition with the U.S. District Court for the District of
Columbia.
-30- 1682
IBM VETERAN STEPHEN CARNS FINDS A SLOT AT SYSTEMATICS
12/31/91
91365q0009  American Banker
(DEC. 31) AMERICAN BANKER - The resume of Systematics president Stephen A.
Carns looks more like a train schedule.
During the first 10 years of the technology executive's career, he held jobs
in Chicago, Denver, Minneapolis, Cincinnati, Portland, and New York - most of
them for International Business Machines Corp.
His itinerant ways have slowed in recent years. Now, Mr. Carns is settling
down in Little Rock, Ark., where he was named president and chief operating
officer at Systematics Information Services Inc., effective Wednesday.
"The whistle-stopping is done, I think," said Mr. Carns in a recent interview.
"And the way this business is changing, I doubt if I'll feel like things are
passing me by." Toward an Extended Presence
As the No. 2 man at Systematics, under chief executive John E. Steuri, Mr.
Carns will oversee software development and facilities management services for
financial institutions.
Specifically, Mr. Carns hopes to bolster Systematics' already strong presence
in an increasingly competitive business: handling banks' data processing
operations, often referred to as outsourcing.
By most accounts, Systematics ranks a strong second in the outsourcing market
behind perennial leader EDS Corp. of Dallas, a General Motors Corp.
subsidiary. However, a number of companies have stepped up their efforts to
land large bank contracts in recent months, and industry watchers say
Systematics is feeling the squeeze.
"Systematics has been perceived - perhaps incorrectly - as a company for small
and medium-size banks," said M. Arthur Gillis, president of Computer Based
Solutions Inc. in New Orleans. "They are more than capable of providing
quality services to large banks, but they are struggling for a way to get
their message across."
In fact, Systematics already handles data processing for a number of large
financial institutions. According to Mr. Carns, the company holds contracts
with twice the number of banks in the $1 billion-asset-and-over range as its
closest competitor. Ground to Cover
Despite that success, Systematics has lost several hotly contested races for
large contracts in the past year. Notably, in September, Integrated Systems
Solutions Corp., a subsidiary of IBM, beat out Systematics for the Continental
Bank Corp. deal valued at $450 million over 10 years.
Perhaps coincidentally, perhaps not, Mr. Carns - who worked at IBM for 21
years - is the third former Big Blue executive in two years to be installed in
Systematics' management office.
Mr. Steuri, chairman and chief executive officer, came to Systematics from IBM
in 1989. He was soon followed by Roger Owens, president of the financial
services division.
Mr. Carns said the IBM connection is "certainly not programmatic - there's no
master plan to turn the company into IBM or something."
But in addition to benefiting from Mr. Carns' experience in the outsourcing
business, industry watchers suggest that Systematics might also be looking to
project some of the strength and consistency that are IBM hallmarks.
-30- 3417
BORROWERS ARE INDICTED FOR NEW ENGLAND FRAUD
12/31/91
91365q0008  American Banker
(DEC. 31) AMERICAN BANKER - Two Cape Cod golf course developers have been
indicted on charges of bank fraud in connection with $38 million in real
estate loans from the former Bank of New England and Sentry Federal Savings
Bank.
Patricia C. Harrison, 48, and Stephen G. Harrison, 57, now living in Hollywood
 Fla., face up to 500 years in prison and up to $25 million in fines if found
guilty on all 100 counts of bank fraud tied to the development of Falmouth
Woods, a luxury project in Falmouth, Mass.
American Banker reported last July that an investigation into the biggest bad
loan on the failed Bank of New England's books was focusing in part on the
alleged use of Wite-Out correction fluid to alter invoices submitted to the
bank. Costs Allegedly Inflated
The indictment was handed up Dec. 17 in Boston. It charged that the invoices
were altered to inflate costs and draw more money from the banks than the
developers were entitled to. Sentry loaned the Harrisons $10 million for the
project, which eventually went bankrupt, and Bank of New England loaned $28
million, according to the U.S. attorney for Massachusetts.
In addition, the indictment said, the developers diverted money from Bank of
New England and from membership fees at the development's country club to
their own use and to other projects. Concealment of a Porsche
The grand jury also indicted Ms. Harrison on one count of bankruptcy fraud for
allegedly concealing a Porsche owned by the bankrupt development company. That
charge carries a potential penalty, on conviction, of five years in prison and
a $250,000 fine. Ms. Harrison was arrested in Florida and released on $300,000
bail. Mr. Harrison did not appear in court because of a medical problem.
The case was investigated by the FBI and the Large Bank Investigations
Department of the Federal Deposit Insurance Corp. It is being prosecuted by
U.S. attorney Wayne A. Budd's economic crimes division.
-30- 2223
RAPID REGULATORY SALE OF PROPERTY CALLED DESTRUCTIVE FORCE
12/31/91
91365q0007  American Banker
(DEC. 31) AMERICAN BANKER - Anthony Downs, a senior fellow at the Brookings
Institution, prescribes a tonic that beleaguered bankers would gladly swallow:
more lenient regulation.
But the treatment also calls for the tapering off of deposit insurance, a
prescription bankers are not so wild about.
This regimen runs counter to the prevailing approach, which calls for swift
action to contain problems. But the regulatory version of castor oil is making
matters worse instead of better, Mr. Downs warned.
Accelerating the Tailspin
Each time regulators force a bank to liquidate troubled real estate too
quickly, he said, the industry's tailspin accelerates.
"Federal financial regulators need to recognize the urgency to the threat of
banking viability posed by the current downward spiral in commercial real
estate prices," Mr. Downs said, echoing the arguments of bankers and real
estate developers alike.
A heavy-handed emphasis on dumping real estate at any cost "threatens to
undermine the capital structure of the entire banking system," Mr. Downs
concluded.
The second action he is proposing, scaling back deposit insurance, has failed
to win as much support from bankers, who are concerned that tinkering with
deposit insurance could undermine depositor confidence and cause runs.
Exposure
But Mr. Downs said government must reduce its exposure to bank failures if it
hopes to prevent a repetition of the risk-taking that has led to the current
dire predicament.
Besides, he said, "taxpayers deserve a reform in this system in return for
their huge investment in covering savings and loans losses."
In a paper prepared for the Urban Land Institute and the National Realty
Committee, Mr. Downs urged five regulatory tactics.
* "Top-level regulators - from the President on down - should immediately make
much more vigorous and clearly visible efforts to impress upon their
subordinates the importance of not choking off all credit in commercial real
estate markets."
Forbearance Effective
* Officials should treat the real estate credit problems in the same way they
initially handled bank's problems with loans to less developed countries - by
exercising forbearance.
* Bank examiners should stop forcing banks to classify loans as nonperforming
just because collateral values are temporarily impaired.
"If borrowers believe their properties are worth enough to continue paying off
their loans in a timely manner, they surely do not believe the market values
of those properties have fallen below the amounts of the loans on them."     *
Washington should delay the enforcement of new capital standards. Banks now
must increase capital levels just when conditions are especially unfavorable
for the sale of assets such as real estate that is needed to meet the
requirements.
* Officials should reduce the risk-weighting for commercial mortgages when
calculating capital requirements.
An Easier Route
That would make it easier for banks to refinance maturing construction and
miniperm loans, and thus stem the erosion of real estate values.
He also suggested three ways deposit insurance could be reformed to eliminate
the temptation of bankers to depend on the government to bail them out if the
risky loans go under.
* Eliminate federal deposit insurance gradually, enabling banks to buy private
deposit insurance.
* Impose drastic limits on the size of insured accounts.
* Divide banks into two types, one with federal insurance that could invest
only in liquid securities, and another type, without the insurance, allowed to
invest in more risky loans.
An Imbalance in the Market
Timing is always sensitive, but in this environment it could make the
difference between solvency and insolvency for some institutions.
"Too many banks are trying to sell their real estate to too few buyers, a
condition that depresses the prices of sales actually completed."
If mark-to-market accounting for real estate loans is imposed, he said, it
could slash the system's equity by 43%, assuming values have fallen at least
25%.
Anticipating objections from those who will compare his cure to the
forbearance offered to thrifts in the early stages of their bout with a
similar fever, Mr. Downs said the patient is different this time.
The banking system has a stronger net equity position than the savings and
loans did. Fewer banks have engaged in the risky fast-growth strategy that the
thrifts pursued. And fraudulent self dealing has been less prevalent, he said.
"Bank regulators commendably have pressured banks to be more conservative
about their lending practices than did thrift regulators," Mr. Downs said.
"But that regulatory pressure has gone too far. It is time for financial
regulators and politicians to recognize that their rigid, anti-forbearance
attitude is forcing banks to adopt a self-defeating strategy."
-30- 5402
CANADIAN INVESTOR BUYS 7.1% OF BANK OF SAN FRANCISCO
12/31/91
91365q0006  American Banker
(DEC. 31) AMERICAN BANKER - Georges Benarroch, a Canadian investor and
financial executive, purchased last week 7.1% of the ailing Bank of San
Francisco Co.
Also last week, the parent of the Bank of San Francisco said it would suspend
the dividend on its convertible preferred stock. In September, the company
stopped paying dividends on its common stock.
An Affluent Clientele
Bank of San Francisco, which has $400 million in assets and specializes in
banking services for the affluent, ran into problems with its loan portfolio
as the economy started spiraling downward.
Problem assets at the end of September equaled 15% of the bank's loan
portfolio plus foreclosed property.
In recent months, the bank has scaled back its operations, particularly in
home mortgages, and reshuffled top management.
The bank's chief financial officer, William Adams, said the bank is not
familiar with or in touch with Mr. Benarroch, who bought 161,000 common shares
of the bank's stock, according to a filing with the Securities and Exchange
Commission.
Mr. Benarroch, who said he bought the shares for investment purposes, is
chairman and chief executive officer of Credit Finance Ltd., an underwriting
firm in Toronto. Up to $3.75 a Share
He acquired the stock through RIF Capital Inc., his Barbados-based investment
holding company, the SEC document said.
Mr. Benarroch paid $2.625 to $3.75 a share, compared with Bank of San
Francisco's low for this year of $2.375.
The stock's 52-week high was $6.75.
-30- 1805
WHEN PRICING A CONVERSION, CONSIDER RETURN ON EQUITY
12/31/91
91365q0005  American Banker
(DEC. 31) AMERICAN BANKER - Mr. Breyer and Mr. Zinski are partners in the law
firm of Breyer & Zinski in Washington.
     In his column on Nov. 18, 1991 ("Mutuals should Play 'Price is Right' ")
 Paul S. Nadler questioned the wisdom of the Comment we published in this
newspaper last Aug. 22 on mutual-to-stock conversions of thrift institutions
("Low Prices Make Time Ripe for Stock Conversion").
     We felt an obligation to respond because Mr. Nadler's article failed to
recognize some of the fundamental elements of the mutual-to-stock conversion.
    Mr. Nadler failed to recognize that: (1) there is no book-value-per share
dilution in a mutual-to-stock conversion; (2)  there are comprehensive
statutes and regulations protecting the rights of depositors in mutual
thrifts; (3) return on equity is important to an investor; and (4) people buy
stock because they hope it will appreciate in value. There's Nothing to Dilute
     A key concept is that it is a mutual that is converting, not a stock
entity. The principle of dilution does not apply because there are no shares
outstanding to be diluted.
     There are certain legal principles underlying conversions that have been
established by statute, regulation, and case law. Depositors of a mutual
thrift are provided by law with two rights in conversion: the right to buy
stock and the right to approve or reject the plan of conversion.
    Mr. Nadler's concerns about depositors' interests are misplaced. The
primary interest of most depositors at both mutual and stock institutions, as
one might imagine, is the return on their deposit with a decent rate of
interest. Depositors Have Priority
    Furthermore, in the mutual-to-stock conversion process, depositors are,
contrary to Mr. Nadler's suggestion, not deprived of their right to receive
the thrift's "surplus."
    In fact, depositors are given first priority to buy all of the stock
offered by the thrift -  a type of preemptive right.
     The regulations also require that a liquidation account be established
to protect depositors' interest in the surplus that exists at the time of
conversion, in the event of a subsequent involuntary liquidation.
     Mr. Nadler does make one good but obvious point: If prices move lower,
depositors who invest in the conversion stock can lose money.
    There is, however, a greater risk of prices moving lower if the offering
is priced at the top of a speculative market.
    The best examples of this situation are New England thrift conversions
that were priced aggressively during a speculative frenzy in 1985 when prices
were at 80% or more of pro forma book value. The stock prices could only go
down.
    For a conversion to be successful, there must be a strong possibility
that the stock will appreciate in value. To ensure fairness, the Office of
Thrift Supervision regulations strictly control the appraisal process that
determines the amount of stock to be issued.
      It seems  Mr. Nadler does not understand what has become the most
difficult question for managers who receive this new capital - how to put it
to use. Gauging Capital Needs
    A large majority of thrifts going public are not, as Mr. Nadler implies,
undercapitalized. He suggests that the higher appraisals and the resulting
larger stock offerings would be beneficial and  does not recognize that this
may place many institutions above optimal capital levels.
    In this regard, he has ignored a fundamental principal that all corporate
managers  understand - return on equity is key. High conversion appraisals
will require thrifts to take more risks to achieve an adequate return.
    The market rewards companies that perform, and it measures performance
based in significant part on return on equity.
     Why not give thrifts a chance, like other publicly traded companies, to
pay their investors back with a decent rate of return?
    Paul S. Nadler replies: To say that there would be no dilution because
there are no stockholders is my key point. No one is there to protect the
surplus built up over the years from being raided by today's depositors and
managers.
    Mr. Breyer and Mr. Zinski go further and say that if the bank got a high
appraisal on its surplus when it went public, then it would bring capital
above optimal levels. That would lead to risky investments, so why not pass it
out below optimal value to avoid this?
    It's like saying to your boss, "Why don't you cut my salary, since all
I'll do is spend the money on beer."
    My point is that higher appraisals and larger stock offerings help the
bank, though they do mean a less attractive deal for investors.
    Since the surplus was built by the bank over more than a century in many
instances, it is the bank that should benefit, not just those who happen to be
involved with it in 1992.
-30- 5287
FED POLICY ON BIG BANKS MISFIRES
12/31/91
91365q0004  American Banker
(DEC. 31) AMERICAN BANKER - Mr. Phillips is president of HP Corporate
Communications, New York, a consulting firm.
The current formula being used to resuscitate troubled big banks seems instead
to be hastening their demise.
Present bailout policy identifies troubled banks as those with insufficient
capital to absorb expected credit losses. A bank with a Tier 1 capital ratio
of less than 4% is considered troubled and must raise its ratio.
The Fed needs to develop a mechanism by which large banks are exempted from
capital ratio considerations. These banks must then be encouraged to expand
rather than shrink their balance sheets.
Expansion must, of course, involve the acquisition of well-performing assets.
The Usual Scenario
Under today's regulatory system, however, just the opposite occurs. Since
troubled banks are generally unable to obtain fresh capital from the market,
either through the sale of equity or preferred stock, they are urged to
improve capital ratios by selling assets.
Two types of assets are typically sold: subsidiaries and loan assets. In the
sale of both subsidiaries and loan assets, the market is willing to buy only
those assets and subsidiaries that perform well.
Accordingly, the troubled bank is able to sell only the good subsidiaries and
good loans, while keeping the weak-performing subsidiaries and poor quality
loans. This course of action temporarily strengthens the capital account, but
substantially weakens income streams.
Makings of a 'Bad Bank'
As a consequence, banks become top-heavy in terms of costs. Furthermore, the
concentration of bad loans remaining on the balance sheet increases. In effect
 the makings of a "bad bank" are set in place.
As long as credit quality in the economy as a whole continues to decline,
charges for credit writeoffs and restructurings start to overpower earnings.
Adding to this, troubled banks find that noninterest income shrinks as their
trading lines are cut and their ability to participate in market related
activity is diminished. To a growing extent, successful participation in the
foreign exchange, swaps, and securities markets is largely a function of
credit rating.
Accordingly, banks with deteriorating credit perceptions realize a further
decline in income as trading revenues decline. (Interestingly, lost income
from these sources at troubled banks seems proportional to the rise in such
income at sound banks with sufficient capacity, such as Morgan Guaranty,
Deutsche Bank, and Bankers Trust.)
Cost of Funds Rises
Of even greater significance, noninsured funding sources, such as commercial
paper and interbank deposits, become dysfunctional - and the troubled bank's
overall cost of funds rises.
Eventually, negative perceptions of a troubled bank's balance sheet are
reflected in fee income from such noncredit functions as clearing and custody.
And at a certain point, the "bad bank," stripped of its quality income sources
and chasing deteriorating asset quality, attempts to build capital internally.
This generally involves the suspension of its dividend.
This sequence is more or less what took place at the Texas banks in the late
1980s and the Bank of New England in 1990.
The principle of downsizing through asset sales is based on the successful
experience of Bank of America in the mid-1980s. It worked for Bank of America
because, unlike banks today, Bank of America was not chasing a moving credit
quality target.
When Bank of America's restructuring took place, credit quality in California
was relatively stable or improving and the economic environment supported its
recovery efforts. This is not the case today in most of the United States.
Increasing the Income Streams
Therefore, the solution is in bank expansion through the acquisition of
well-performing assets. Under such a scenario, credit losses and restructuring
charges would be offset by growing, rather than declining, income streams -
and the concentration of bad debts in the balance sheet will diminish.
As such a process unfolds, strong supervision would be required to force the
institution to restructure its cost base and improve cost/income ratios,
because unless costs can be reduced and efficiency improved, the entire
rationale for such a strategy would be rendered invalid.
As institutional investors recognize the potential for additional earnings and
incrementally higher return-on-equity, they might be willing to buy into
higher income levels through equity or preferred stock.
Eventually, capital levels could be restored and the quality perception of the
bank's balance sheet would improve, allowing it to grow its market-related
activities and improve funding costs.
Of course, it might be said that such a regimen would reward inept management,
but that should not be the issue.
The aim must be to avert systemic disruptions, preserve the stability of
America's big banks, and minimize bailout costs to the taxpayer.
The crisis that started in the early 1980s has been a fiasco for bankers,
regulators, investors, and taxpayers alike.  It is time regulators acknowledge
that market forces alone might not be sufficient to turn the situation around
for some large banks.
-30- 5717
SANWA CONTINUES TO SUPPORT BONDS FOR SMALL CITIES
12/31/91
91365q0003  American Banker
(DEC. 31) AMERICAN BANKER - To the Editor:
    I am concerned that an article Dec. 13 ("Sanwa Reported Unwilling To Back
Small-Town Debt," page 7) may have caused some misunderstanding about Sanwa's
ongoing support of its letters of credit for small U.S. municipalities.
    An independent financial adviser to the city of Enid, Okla., who does not
represent Sanwa Bank was quoted as saying that Sanwa officials "said they were
going to redline municipalities of under 100,000 population."
    Let me stress that that is not the policy of Sanwa Bank.
    The bank has been doing business in the United States since 1953 and has
developed many strong relationships with municipalities across the country.
    For example, during the past several months Sanwa acted as lead bank for
a letter of credit supporting $230 million of general fund recovery bonds to
help the District of Columbia.
    Sanwa has provided over $400 million of credit support to statewide
school districts. Sanwa played a key role in an innovative pooled commercial
paper program for several counties in Florida.
    Therefore, Sanwa is committed to the U.S. municipal finance market for
the long term. Due to its consistent commitment, Sanwa has ranked as one of
the largest letter-of-credit-providing banks to a substantial number of U.S.
municipalities.
Taku Sasaki Vice president Sanwa Bank  Ltd. New York
-30- 1646
BASEL GROUP THWARTED BY ITS MEMBERS
12/31/91
91365q0002  American Banker
(DEC. 31) AMERICAN BANKER - Mr. Kleiman is president of Kleiman International
Consultants Inc., New York.
     The Basel Group of central bankers from the main industrial nations -
best known for its work in setting international capital standards - is under
siege.     Member countries have moved to dilute and delay application of the
equity-to-asset ratios. Meanwhile, nonmember developing countries have
attacked the rules as crude and discriminatory.
    Globally, critics fault the supervisors for years of inaction, followed
by preemptive shutdown of the now-notorious Bank of Credit and Commerce
International.
      The Basel Committee is an informal consultative body with no separate
enforcement power. Its mandate and credibility derive from the need to
harmonize banking regulation to ensure safety and fairness, and from the
voluntary acceptance and relevance of its pronouncements.
Not Up to Full Speed
      In the United States, Europe, and Japan, fears of a "credit crunch"
have led policymakers to heed  bankers' cries for leniency and flexible
accounting in reaching the 8% capital requirement set in 1988.
    In Japan, banks stung by the collapse in price of their vast share
portfolios - applicable  toward the 8% minimum - have petitioned the Ministry
of Finance for an extension of the yearend 1992 deadline for implementation.
    German banks, their holdings strained from the cost of reabsorbing the
eastern half of the country, also demand treatment of their hidden securities
reserves as Tier 2 capital.
Liberalization, U.S. Style
    American banks have won approval for raising the permitted preferred
stock component of Tier 1 capital as part of a credit-easing package recently
announced by President Bush.
    The 12 signatories to the historic 1988 agreement intended the capital
ratios as a floor for bank credit strength and the foundation of a broader
risk framework embracing other financial intermediaries. But since then the
central bankers have neglected to  reinforce either of these positions.
     At the 1991 International Monetary Fund-World Bank annual meeting in
Bangkok, the Group of 24 developing nations accused the Basel supervisors of
exaggerating credit risk for nonmembers of the Organization for Economic
Cooperation and Development.
Answered in Silence
    The Basel representatives at the conference were led by E. Gerald
Corrigan, new head of the Committee on Bank Supervision head and president of
the Federal Reserve Bank of New York. They did not answer this sweeping
indictment.
     Mr. Corrigan and his colleagues have also failed to articulate a
rationale for incorporating interest rate, foreign exchange, and other
critical forms of risk into the technical formulas.
     Mr. Corrigan and fellow Basel officials have indicated they will address
many of these  concerns in coming months, but much of the momentum that
accompanied the 1988 accord  has already been lost.
    At a minimum, the Basel Group's activities should be guided by a small
corps of career banking professionals dedicated to sustaining and elaborating
the harmonization process. These experts would offer a ready forum for
resolving  technical and policy questions and could undertake special
investigations to prevent future  BCCIs.
Need for Professional Forum
      The global banking framework is too important not to receive the
full-time attention of the international community. Establishing an
independent Basel staff capability comprising both  developing and developed
country nationals would parallel the head-office function existing at most
multinational private banks.
    Without this deliberate sense of purpose and resolve, the  Basel process
- which began with such high hopes five years ago - will continue to fade into
 incoherence and irrelevance.
-30- 4223
EUROPE'S BANK PASSPORT SHUTS DOORS
12/31/91
91365q0001  American Banker
(DEC. 31) AMERICAN BANKER - Mr. Hoxter runs his own public relations firm,
Curtis J. Hoxter Inc., in New York.
     The European Community is about to unveil still another banking
directive that aims to force financial institutions operating as holding
companies to consolidate their activities in a "single center."
   The directive will stipulate that banks must be fully consolidated either
in the country of origin of the holding company, the country in which it
conducts most of its business, or in a country designated by prior and formal
agreement among the European Community's regulators.
    The new directive is intended to complement the European Community's
second bank directive of 1989, which created what is now referred to as the
"banking passport." It entitles a bank licensed in one member nation to
conduct business in another. It does not provide these same privileges to
non-European Community banks and thus must be seen as protectionist.
The BCCI Example
     This initiative has had numerous critics, foremost in the United States,
because the move discriminates against less-developed countries. This is one
of the reasons why the question of reciprocity is included in sections of the
new American banking legislation, which is now being considered by Congress.
     But most damaging in a global financial structure, which the world is
certainly and deliberately moving toward, is that the passport allows banks to
seek out the least rigorous regulatory home. This is particularly sensitive in
view of the collapse of Bank of Credit and Commerce International, which
pointed out the weakness of the present regulatory system.
     That the Federal Reserve Board could not bring the various elements of
the BCCI operations in the United States under one regulatory roof is
sufficient proof. And Congress also wants to close the door so that what
happened at Banca Nazionale del Lavoro's Atlanta branch will not be repeated.
Punitive Measure Possible
      Unfortunately, other foreign banks operating in the United States might
pay the penalty for the violations and misdeeds of the Italian bank.
     According to banking experts within the European Community, Article 14
of the Second Bank Directive will ensure that bank regulators share
information needed to monitor banks, including information on bank liquidity,
solvency, deposit guarantees, large exposures, and internal accounting.
     The general feeling is that if a regulator is dealing with a bank within
a bank, it is difficult to find fraud and violations. But a prominent European
official insists that in a single market, there will be much greater
cooperation between regulators after the second banking directive comes into
force.
     Much more significant seems to be the European decision to come up with
a new directive, with the aim of developing a standard parameter for a uniform
deposit insurance system.
No Uniformity of Systems
     The closing of BCCI, at an estimated cost of more than $5 billion, once
again demonstrates the wide regulatory variances in the systems operated by
central banks, the banks themselves, and the European Community member states.
      In Britain, the Bank of England insures depositors for up to $24,000 of
their losses; Italian depositors are entitled to 100% on claims up to the
equivalent of $50,000 and 90% of claims to about $875,000. This is repeated at
different levels and amounts throughout the 12 nations.
     In an obvious effort to demonstrate a united front, European Community
officials insist that once the new single market "banking passport" goes into
effect in January 1993, it will be harder for institutions such as BCCI to
operate. Specifically, it will be more difficult for a financial institution
to set up a sprawling web of subsidiaries.
A Call for U.S. Reform
      Non-American financial leaders often complain that the U.S. banking
system, with its current requirements, is outdated and inflexible. Interstate
banking, the abolishment of the Glass-Steagall Act, the extension of universal
banking in general, and the extension of investment banking to commercial
banks are just some of the needed changes, they say.
      The European Community, in anticipation of the single market, is in the
midst of changing the Continent's financial picture. This would appear to be
the right time for the United States to change its banking facilities and
operations in anticipation of the changes in the European banking structure.
     The BCCI situation shows clearly the weakness of the antifraud laws in
the international banking system and the need for coordinated global
supervision and regulation. However, Brussels must initiate a dialogue with
Washington on the banking-system question, which the Europeans have not yet
done, preferring to proceed on their own.
-30- 5273
CHEVRON CORP. RAISES ITS POSTED PRICE FOR EASTERN CRUDE OIL
12/31/91
91365p5978  PR Newswire
SAN FRANCISCO (DEC. 31) PR NEWSWIRE - Chevron U.S.A. Inc. announced an
increase in the posted prices it will pay for all grades of crude oil in its
Eastern Region (U.S. areas outside of California and Alaska).
Effective today, Tuesday, Dec. 31, at 7:00 a.m., posted prices were increased
$0.25/bbl, except for Southwest Wyoming Sweet which was increased by $0.75.
Chevron will now pay: $17.75 for West Texas Intermediate $15.25 for West Texas
Sour $18.25 for South Louisiana Sweet (Onshore) New prices for all grades
other than those from California and Alaska are reflected in Chevron's Eastern
Region Crude Oil Price Bulletin 91-E72. Bulletins are issued periodically
reflecting price increases or decreases as market conditions change.
CONTACT: Mike Libbey of Chevron U.S.A., 415-894-4440.
-30- 1234
CLASSIC MEDICAL GROUP REPORTS LOSSES OF $155,829 FOR FISCAL 1991
12/31/91
91365p5955  PR Newswire
MUSKEGO, WI (DEC. 31) PR NEWSWIRE - Classic Medical Group, Inc. and
subsidiary today released its fiscal year end financial statements as of Sept.
30, 1991.  Annual sales for 1991 reported at $3,428,087 compared to 1990 sales
of $3,540,002 were down three (3) percent, or $111,915.
Classic recorded a loss of $155,829 for the year compared to a $457,327 profit
for 1990.
Basic margins slipped due to an increase in manufacturing labor costs, while
materials costs declined in the period.  These effects were primarily due to
the start-up of new product lines.
Selling, general and administrative expense increases related primarily to
increased office salaries, accounting, legal and professional expense.
Classic Medical Group, Inc. manufactures and distributes disposable medical
electrodes for a broad variety of medical procedures.
CLASSIC MEDICAL GROUP STATEMENTS OF OPERATIONS
YEARS ENDED SEPT. 30:       1991          1990         1989
Revenues:                $3,428,087    $3,540,002   $3,013,188
Net income (loss):        $(155,829)     $457,327       $3,364
Net income (loss)
 per share:                 $(0.044)       $0.134       $0.001
CONTACT:  Robert A. Macur, president of Classic Medical Products, 414-679-3100.
-30- 1567
LUKENS SHIPS 11,500 TONS OF STEEL FOR WEEK OF DEC. 22
12/31/91
91365p5953  PR Newswire
COATESVILLE, PA (DEC. 31) PR NEWSWIRE - Lukens Steel Co. shipped more than
11,500 tons of plate steel during the week of Dec. 22, despite a two-day plant
shutdown for the Christmas holiday, the company said today.
Last week's efforts pushed total shipments past the 130,000-ton mark since the
steelworkers' strike began Oct. 1.
"Our ability to continue to produce and ship our products to satisfy our
customers' requirements throughout the strike has been a remarkable
achievement. The strike will not deter us from meeting our obligation toward
our customers," said Lukens Steel President Robert Schaal.
Counting work completed last week, Lukens' Electric Melt Shop has produced
more than 100,000 tons of new steel since Oct. 1, said Schaal as the strike
moved into the 14th week. The company received new orders for about 7,000 tons
of steel during the week beginning Dec. 22.
Lukens Steel negotiators met with union representatives today to discuss the
contract proposal offered by Lukens on Dec. 21. Although that offer was to
expire today, negotiations are expected to continue later this week.
"We remain willing to negotiate even past the December 31 deadline," Schaal
said. "We will extend our offer to achieve a new contract."
CONTACT: W.E. Walker of Lukens, 215-383-2504.
-30- 1653
AT&T'S CALIF. LONG-DISTANCE PRICES WILL BE REDUCED BY $116 MILLION ON JAN. 1
12/31/91
91365p5952  PR Newswire
SAN FRANCISCO (DEC. 31) PR NEWSWIRE - AT&T's long-distance prices in
California will be reduced on New Year's Day by $116 million.
The price reduction is AT&T's forth in-state reduction in the past 12 months.
since December 1990, AT&T has reduced its long-distance prices in California
by more than $250 million.
AT&T said the reductions affect prices for in-state direct-dial,
operator-assisted and card calls in all rate periods.
Additionally, the company said it is reducing prices for many of its
specialized business and residential services, including its REACH OUT(R)
California calling plans, AT&T 800 READYLINE(R), WATS, 800 AND SDN(R) service.
Dick Bromley, AT&T government affairs vice president, said that approximately
$87 million of this latest reduction reflects reductions in the charges paid
by AT&T to local telephone companies for access to their networks.
Bromley said the price of a 10-minute, daytime, direct-dial call between San
Francisco and Los Angeles will drop from $1.70 to $1.41. At the residential
night and weekend rate, a similar call will cost only $1.05.
"Low long-distance rates are advantageous for business and residential
customers and these new, lower prices are one of the many advantages of using
AT&T long-distance service in California," Bromley said.
CONTACT: Ken Croley, 415-442-2245 (office) or 510-837-8451 (home); or Raul
Garza, 213-239-7336 (office) or 213-966-7998 (home).
-30- 1826
SEISMED INSTRUMENTS LOSES $2.63 MILLION IN FISCAL YEAR
12/31/91
91365p5951  PR Newswire
MINNEAPOLIS (DEC. 31) PR NEWSWIRE - Seismed Instruments, Inc. (NASDAQ: SEIS)
today announced the financial results for its fiscal year ended Sept. 30,
1991.  Net sales for the fourth quarter and twelve months ended Sept. 30, 1991
 were $42,485 and $80,805 respectively.  The company reported a net loss for
the fourth quarter and twelve months ended Sept. 30, 1991, of $.27 and $.96
per share respectively.
 Seismed Instruments in engaged in the development and marketing of
noninvasive diagnostic cardiology instrumentation.  The company's first
product, the SCG-2000 seismocardiograph is used in conjunction with routine
stress testing to evaluate the biomechanical performance of the heart.  The
addition of the relatively easy SCG to the standard exercise EKG test
procedure significantly improves diagnostic accuracy and helps physicians in
the early detection of coronary artery disease.  This increased diagnostic
accuracy was confirmed in a multicenter SCG study complete in September.  With
the additional clinical research confirming the clinical usefulness of
seismocardiology, the company has expanded its distribution network in the
U.S., European and Japanese markets over the past six months.
                   SEISMED INSTRUMENTS, INC.
                    Statements of Operations
                     Fourth Quarter Ended      Twelve Months Ended
                      9/30/91     9/30/90      9/30/91      9/30/90
Net sales             $42,485     $62,683      $80,805      $73,838
Net loss             (871,047)   (523,570)  (2,634,999)  (1,624,625)
Loss per share         $(0.27)     $(0.24)      $(0.96)      $(0.77)
Average common shares
 outstanding        3,264,043   2,213,399    2,750,250    2,114,484
CONTACT:  Sandra J. Garlough, president and CEO of Seismed Instruments,
612-473-5151
-30- 2163
MANVILLE SELLS REMEDIATED CALIFORNIA SUPERFUND SITE TO ARCO
12/31/91
91365p5941  PR Newswire
CARSON, CA (DEC. 31) PR NEWSWIRE - Denver-based Manville Corp. (NYSE: MVL)
announced today that it has sold a 50-acre remediated superfund site in Carson
to Atlantic Richfield Co. (ARCO) (NYSE: ARC).   The sale also includes the
transfer of all water rights at the site.   Terms of the sale were not
disclosed.
Manville operated a pipe plant and insulation manufacturing facility from the
1930's until operations ceased there in 1982.   Two years later, the empty
site was placed on the California EPA's Superfund list of hazardous waste
sites to be cleaned up.   After six years and more than $10 million, Manville
successfully cleaned up the site, with a certification of completion granted
by the state on June 30, 1990.
"We are pleased that this 50-acre industrial site may once again be put to
productive economic use, benefitting not only the city of Carson, but Los
Angeles county and area citizens as well," said Tom Stephens, chairman,
president and chief executive officer of Manville.   "Although a clean-up is
never easy, I believe the success of the Carson project demonstrates in real
terms that Manville is serious about its commitment to the environment."
Manville Corp. is an international holding company with two principal
subsidiaries -- Manville Sales Corp. and Riverwood International Corp.
Products sold by Manville Sales Corp. include building and engineered products
and roofing systems.   Riverwood International is a vertically integrated
forest products company providing machinery-based packaging systems to
customers worldwide.
CONTACT:   Leo Honeycutt of Manville Corp., 303-978-2382
-30- 1976
LAMCOR EARNS $57,622 IN FISCAL 1991
12/31/91
91365p5940  PR Newswire
LE SUEUR, MN (DEC. 31) PR NEWSWIRE - Lamcor, Inc. announced today that sales
for the year ended Sept. 30, 1991 increased to $2,223,107 from $1,924,094
reported one year ago.
Net income for the year ended Sept. 30, 1991 was $57,622, or $.05 per share,
compared to $170,057, or $.15 per share, recorded last year.
Management attributed the sales increase primarily to greater penetration of
new and existing markets for the Lamcor's products.  The company also noted
that net income was affected by personnel additions in the production and
finance area, capital equipment acquisition, and a one time charge for an
unpaid receivable.
Toby Jensen, president stated, "Throughout fiscal 1991, we were committed to
investing in our personnel and production capabilities to accommodate
anticipated growth.  While this strategy reduced net income we are confident
that its long-term affect will be extremely positive."
Lamcor, Inc., based in Le Sueur, Minn. develops, manufactures and markets
laminated films for the food, medical, electronic, and photographic
industries.  Lamcor's common stock is traded on the Minneapolis/St. Paul
over-the-counter market.
CONTACT: Toby Jensen, president of Lamcor, 612-332-1997; or Christopher
Sellwood of de Petra & Associates, 612-338-7630, for Lamcor
-30- 1569
HARRIS WINS FAA CONTRACT FOR NEW AIR TRAFFIC CONTROL COMMUNICATIONS SYSTEM
12/31/91
91365p5938  PR Newswire
WASHINGTON (DEC. 31) PR NEWSWIRE - The Federal Aviation Administration (FAA)
today awarded a 15-year, $1.663 billion contract to the Harris Corp. (NYSE:
HRS) of Melbourne, Fla., for a sophisticated radio and telephone voice
switching system to replace the aging leased communication systems currently
in use in the air traffic system. The FAA expects to spend $97 million of the
contract in fiscal year 1992.
The Voice Switching and Control System (VSCS), a major component in the FAA's
air traffic control modernization program, will provide a computer-controlled
voice system for communications among air traffic controllers and between
controllers and flight crews.
The contract permits the ordering of 25 systems over a four-year period, with
the option of ordering an additional 24 follow-on systems. Also included are
maintenance, training and installation services over a 14-year period.
The new system will significantly improve communications with a system that is
flexible, expandable and highly reliable. The VSCS will be installed at the
agency's Aeronautical Center in Oklahoma City, the 22 Air Route Traffic
Control Centers which control aircraft when they are flying between cities,
and at the New York terminal radar approach control facility.
The contract award is a result of prototype development contracts awarded in
1986 to two competing contractors, AT&T Technologies, Inc., of Greensboro,
N.C., and the Government Communications Systems Division of the Harris Corp.
CONTACT: J. Sloane of the U.S. Department of Transportation, 202-267-8521.
-30- 2154
WESTMARK HOTELS & INNS SELLS WESTMARK INN SITKA TO SHEE ATIKA INC.
12/31/91
91365p5936  PR Newswire
ANCHORAGE, AK (DEC. 31) PR NEWSWIRE - The sale of the 80-room Westmark Inn
Sitka by Anchorage-based Westmark Hotels and Inns to Shee Atika Inc. of Sitka
was jointly announced today. The price of the sale, which is effective today,
was not disclosed.
Westmark's predecessor, Sheffield Hotels, built the inn in 1978 and it was
operated in competition with the Shee Atika lodge until 1987, when both hotels
were brought under the Westmark banner. In recent years, Westmark has operated
the inn periodically to accommodate conventions.
"This is a wonderful opportunity to regain ownership of the Herring Rock site
that is so culturally and historically significant to our Native people," said
Ken Cameron, chairman of Shee Atika Inc.
"The building will continue to be rented for light commercial uses and for
overflow convention traffic until long-term plans for the site have been
determined," Cameron said.
"We're proud that the Natives of Sitka now own the Westmark Inn," said Al
Parrish, president, Westmark Hotels and Inns. "Local Native ownership will
guarantee sensitivity to the needs of the community."
The parties also announced that Westmark will continue to operate the 97-room
Westmark Shee Atika lodge under an extension of a management agreement with
Shee Atika Inc.
Westmark Hotels and Inns, headquartered in Anchorage, is the largest hotel
group in Alaska and Yukon Territory with a total of 18 hotels in 12
communities. They are operated within the Holland America Westours "Tradition
of Excellence" in quality, service and traveler comfort.
Shee Atika Inc., headquartered in Sitka, is the Native corporation formed by
the Natives of Sitka.
CONTACT: Rich Skinner or Juli Chase of Holland America Line Westours Inc.,
206-281-3535.
-30- 2198
INTER-ACTIVE SERVICES BUYS ALARM MONITORING CONTRACTS FOR $1.35 MILLION
12/31/91
91365p5935  PR Newswire
WALLED LAKE, MI (DEC. 31) PR NEWSWIRE - Inter-Active Services, Inc. today
announced the purchase of alarm monitoring contracts for $1,350,901 in cash
and common stock. This will increase the company's yearly recurring revenue by
$524,439.96.
Sanford Siporin, CEO of Inter-Active Services, Inc., stated that the new
purchases will give the company a dynamic expandable presence in Florida to
match the one in Michigan.
CONTACT: Freddie Breitberg of Inter-Active Services, Inc., 313-669-2206.
-30- 804
NATIONAL FUEL GAS SUPPLY FILES RATE REQUEST WITH FERC
12/31/91
91365p5932  PR Newswire
BUFFALO, NY (DEC. 31) PR NEWSWIRE - National Fuel Gas Supply Corporation
announced today that a request for tariff changes has been filed with the
Federal Energy Regulatory Commission (FERC) that moves about $70 million,
previously recovered through the Purchased Gas Adjustment, to base rates.
This shift, a result of converting sales to transportation service from
National Fuel's upstream suppliers, will not result in an increase to
customers.
Also included in the filing is a general rate increase request of
approximately $41.1 million. This marks the first rate increase request by the
company in three years.
An effective date of Feb. 1, 1992, is sought but the FERC normally suspends
the requested date. It is expected that new rates will go into effect July 1,
1992.
National Fuel Gas Supply Corporation is a subsidiary of National Fuel Gas
Company (NYSE: NFG). Its primary businesses are natural gas sales, underground
storage and interstate transportation of natural gas for utilities and other
pipeline companies. The new rates will effect all of the company's wholesale
and transportation customers.
CONTACT:  Arthur K. Coon, 716-857-7925, or at home, 716-662-3437, for National
Fuel Gas Supply.
-30- 1473
AMERICAN GENERAL NAMES JAMES D'AGOSTINO SENIOR VICE PRESIDENT-ADMINISTRATION
12/31/91
91365p5930  PR Newswire
HOUSTON (DEC. 31) PR NEWSWIRE - American General Corporation (NYSE: AGC)
today announced that James S. D'Agostino Jr. has been named senior vice
president-administration with responsibility for several parent company
functions, including: investor relations, human resources, training and
development and systems administration. D'Agostino succeeds Robert D. Womack,
who has been named senior vice president-administration for American General's
life insurance companies headquartered in Nashville, Tenn.
D'Agostino, 45, has held several key management positions in the parent
company since joining American General in 1986.  Most recently he has been
serving as senior vice president-investor relations.  His prior experience
includes 18 years in banking -- the last 10 of which were with Citicorp.
D'Agostino received his B.S. degree in economics from Villanova University in
1968 and his J.D. degree from Seton Hall University School of Law in 1974.
Womack, 48, joined American General Corporation as vice president and tax
director in 1990 and was named senior vice president-administration in 1991.
Prior to joining American General, Womack was associated for 12 years with
KPMG Peat Marwick and was named tax partner of that firm in 1975.  He also
served as chief financial officer for a Houston-based investment company for
eight years.  Womack received his B.B.A. from the University of Houston in
1964 and his M.B.A. from the University of Texas in 1966.
American General is a consumer financial services organization with assets of
over $35 billion and equity of $4.3 billion.  Headquartered in Houston, it is
one of the nation's leading providers of life insurance, retirement annuities
and consumer loans.  American General Corporation (AGC) common stock is listed
on the New York, Pacific, London and Swiss stock exchanges.
CONTACT:  James S. D'Agostino Jr., senior VP-administration, 713-831-1224, or
John E. Pluhowski, 713-831-1149, both of American General.
-30- 2390
HARKEN ENERGY CONTINUES DRILLING OF FIRST EXPLORATORY WELL OFFSHORE BAHRAIN
12/31/91
91365p5928  PR Newswire
DALLAS (DEC. 31) PR NEWSWIRE - Harken Energy Corporation ("Harken") (AMEX:
HEC) of Dallas today announced that the drilling of the first of its
exploratory wells offshore Bahrain, which began Nov. 10, 1991, is proceeding
on schedule.  Harken has obtained no conclusive results from the drilling to
date.
Harken Energy Corporation explores for, develops and produces oil and gas
reserves domestically and internationally.  Harken also provides oilfield
services.
CONTACT:  Dale Brooks of Harken Energy, 817-695-4900.
-30- 856
LINCOLN N.C. REALTY FUND POSTPONES SPECIAL SHAREHOLDERS MEETING
12/31/91
91365p5927  PR Newswire
PALO ALTO, CA (DEC. 31) PR NEWSWIRE - Lincoln N.C. Realty Fund Inc.
("LNCRF")(AMEX: LRF) announced today that due to unavoidable delays in
preparation of proxy materials, the special meeting of shareholders originally
scheduled for Jan. 20, 1992, has been postponed.  A new date will be set for
sometime in February of 1992.
LNCRF is a real estate investment trust.  Its securities are listed on the
American and Pacific stock exchanges.
CONTACT:  William F. Garlock of Lincoln N.C. Realty Fund Inc., 415-329-8867.
-30- 843
SIERRA ON-LINE INTRODUCES "ECOQUEST: THE SEARCH FOR CETUS" FOR MS-DOS
12/31/91
91365p5918  PR Newswire
COARSEGOLD, CA (DEC. 31) PR NEWSWIRE - An adventure-packed introduction to
ecological threats facing our oceans and the unique opportunity to implement
realistic solutions to these problems await children in "EcoQuest: The Search
for Cetus," just released by Sierra On-Line (NASDAQ: SIER) for MS-DOS.
As Adam, a lonely young boy and the son of a famous ecologist, players
befriend a stranded dolphin, Delphineous, and join him on an undersea journey
to search for the missing whale king, Cetus.  Guided by his new found friend,
Adam travels to the ruined city hidden in a coral reef and encounters the hurt
 bewildered creatures who have fallen victim to man's careless polluting of
the ocean.  To finish the game, Adam must draw on his courage to face the evil
creature driven mad by toxic chemicals and discover the fate of the missing
king.
"Very few people ever get the chance to go deep sea diving or swim with
dolphins, as they can in 'EcoQuest,'" said Bill Davis, vice president of
creative development.  "I hope young players are motivated to seek out further
information about the discoveries they make."
Dozens of handpainted and digitized backgrounds and character close-ups bring
to life the exotic beauty of Cetus's undersea kingdom.  "EcoQuest" is targeted
at ages 10 and up and features Sierra's easy-to-use point and click interface.
Last month, the company announced plans to enter the home education field with
the launch of two educational products, "The Castle of Dr. Brain" and
"Mixed-Up Fairly Tales."  Two additional releases are planned by mid-1992.
"EcoQuest" is packaged in recycled and recyclable boxes and the box sleeve was
printed with biodegradable soybean ink.  Packaged with the game is "I Helped
Save the Earth: 55 Fun Ways Kids Can Make a Difference," a fact-filled book of
constructive ideas to help save the planet.  Sierra will donate a portion of
the proceeds from the sale of each "EcoQuest" to The Marine Mammal Center in
Sausalito, Calif., known for its efforts at saving Humphrey the Humpback Whale.
"EcoQuest: The Search for Cetus" is shipping with four 3.5 in. or four 5.25
in. high density disks.  All major sound cards are supported and hard disk is
required.  Suggested retail price is $59.95.
Sierra On-Line, located in Oakhurst, Calif., develops and publishes
entertainment and education products for home computers. It is one of the
oldest and largest developers of home computer applications.
            THE BIRTH OF A GAME AND AN AWARENESS
How "EcoQuest" Was Developed and the Changes That Came With It
It started with countless calls to a variety of respected ecological and
oceanographic organizations.  Sierra's "EcoQuest" design team wanted to know
what were the most serious problems facing the world's oceans.  Based on the
answers they received, the designers came up with a list of the top ecological
problems -- some that kids could do nothing about and others they could have a
very real impact on.
Once the ecological framework was established, the designers researched reams
of documents and watched miles of documentaries about each of the hazards to
gain a better understanding of each problem.  The more information the team
received, the more "EcoQuest" developed into a believable fantasy rooted
firmly in fact.
After almost a year of research and development, "EcoQuest" was born,
little-known at the time, a seed was also planted within Sierra On-Line.  This
seed grew, bringing everyone at Sierra a greater awareness of the threats
facing our world and the motivation and cooperation to be part of a solution.
As a result of the company's heightened awareness of environmental issues,
several new policies and practices have become reality:
-- Sierra has increased its use of recycled and recyclable materials for
almost every in-house paper product, including shipping forms, purchase orders
and stationery.  Game boxes were recently added to the list of products
considered friendly to the environment.
-- Box sleeves are no longer sprayed with the shiny UV coating. Previously,
this process rendered our sleeves unrecyclable.
-- InterAction Magazine and the Sierra Products Catalog, with a combined
circulation of more than 1 million copies each year, are printed on recycled
paper.
-- Each disk returned to customer service is resold to secondhand dealers.
-- Carpooling is encouraged, since many employees drive as much as 40 miles a
day to Sierra's Oakhurst headquarters.
-- Can and paper recycling boxes are located in every department. -- Each of
the pallets used to ship games is rebuilt and reused. -- And the company
recently invested in an electronic mail system to cut down on the amount of
paper generated from interoffice memos.
Sierra On-Line's new game, "EcoQuest: The Search for Cetus," is about
commitment to the environment.  It's about making the world a better place for
people and animals to live in.  And it's about caring for the environment.
Sierra is now part of that commitment.
CONTACT:  Anita Greene of Sierra On-Line, 209-683-4468, ext. 504.
-30- 5621
INSTITUTE FOR LABORATORY MEDICINE SELLS FLORIDA LAB TO REN FOR $6 MILLION
12/31/91
91365p5910  PR Newswire
MIAMI (DEC. 31) PR NEWSWIRE - Institute for Laboratory Medicine, Inc.
(NASDAQ: LABS) and REN Corporation - USA (NASDAQ: RENL) announced today that
they have agreed in principal to the sale of ILM's Florida clinical laboratory
to REN for $6 million in cash and the assumption of certain liabilities.
As of the time of this release, no agreement has been executed and no
assurances can be given that such sale will or can be consummated. Any such
agreement, if reached, is expected to be executed prior to Jan. 1, 1992, and
would give REN immediate ownership of the ILM's Florida laboratory subject to
a subsequent favorable vote of 80 percent of ILM's voting stock.  Management
of ILM controls approximately 65 percent of its outstanding voting stock.
ILM's management stated that the sale of the Florida laboratory will help the
company accomplish its stated goal of becoming a national independent clinical
laboratory company.  It will provide funds for future acquisitions, some of
which are currently in process and remove ILM from any Stark Amendment
compliance issues.
Institute for Laboratory Medicine currently operates a clinical laboratory in
Florida.  The company is seeking to expand nationally through internal growth
and additional acquisitions.
If the agreement with REN is not executed, then until a sale of its Florida
operation is consummated or ILM can comply with Stark Amendments, ILM intends
to accept but not bill Medicare for Medicare specimens from its
physician/shareholders.  As of today, ILM has not been able to satisfy the
last criteria (listing its common stock on the American Stock Exchange or
NASDAQ National Market System) for an exemption from the so called "Stark
Amendments" to the Social Security Act, which among other things, prohibit
clinical laboratories from billing Medicare for testing work referred to it by
its shareholders. During fiscal 1991, approximately 50 percent of ILM's net
revenues were generated from Medicare referrals from its
physician/shareholders.
REN Corporation - USA is the nation's fourth largest provider of kidney
dialysis services.  Dialysis services are provided principally at the
company's 31 free standing outpatient REN Centers located in 10 states.  The
company also provides outpatient dialysis service to patients in their homes
and inpatient dialysis services through contracts with 21 hospitals.  In
addition, the company performs blood, tissue and urine testing services for
its REN Centers, as well as for independent physicians and industry, at its
three clinical laboratories.
CONTACT:  Edward Silverman of Silverman, Heller Associates, 212-682-9222, for
Institute for Laboratory Medicine.
-30- 3123
OLD NEWSBOYS' GOODFELLOW FUND OF DETROIT REACHES GOAL OF $950,000
12/31/91
91365p5908  PR Newswire
DETROIT (DEC. 31) PR NEWSWIRE - The Old Newsboys' Goodfellow Fund of Detroit
today announced that its goal of $950,000 has been achieved.
With 97 percent of the funds in hand and 3 percent more pledged but yet to be
collected, the fund now stands at $921,374.
"For 78 years, the people of metropolitan Detroit have opened their hearts and
their checkbooks to make certain the Goodfellow pledge is met: 'No kiddie
without a Christmas,'" said Goodfellow President Frank Brady.
The money goes to buy 40,000 Christmas packages for needy Detroit- area
children.  The packages go to children between the ages of 5 and 13 years.
They contain jeans, sweatshirt, warm hat and gloves, underwear, candy, books
and a toy.  For girls between 5 and 8 years, the package also contains a
dressed doll.
In addition to the Christmas packages, the Old Newsboys' Goodfellow Fund
provides shoes for needy children, emergency dental services and summer
campership for boys and girls.
The Old Newsboys is a unique organization in that all money raised goes toward
helping children.  Administrative costs are borne by Old Newsboys members.
CONTACT:  Suzanne Rabideau, 313-954-1901, for the Old Newsboys' Goodfellow
Fund of Detroit.
-30- 1557
GREAT AMERICAN COMPLETES PURCHASE OF WGHP-TV, NAMES BOYLAN PRESIDENT, GM
12/31/91
91365p5906  PR Newswire
CINCINNATI (DEC. 31) PR NEWSWIRE - Great American Communications Company
(NASDAQ: GACC) ("GACC") announced that the purchase of WGHP-TV, High Point,
N.C. from Taft Broadcasting Partners L.P. has been completed.  WGHP-TV is the
ABC affiliate serving Greensboro, Winston-Salem, and High Point, the nation's
48th market.
John P. Zanotti, president of the Television Group of Great American
Broadcasting Company, a subsidiary of GACC, said that Boylan has been promoted
to president and general manager of WGHP-TV.  Zanotti said, "Dave is doing an
excellent job at WGHP-TV and is the kind of innovative, results-oriented
manager we want in our group."
"I appreciate the vote of confidence from John and Great American, and take
this opportunity to renew our commitment at WGHP to provide outstanding
television service to the people fo the Piedmont region," Boylan said.
Boylan joined WGHP-TV in 1986 as vice president and general manager. From 1985
to 1986, he was station manager of NBC-owned WKYC-TV, Cleveland, where he had
served in various sales and management positions since 1981.  Before that,
Boylan worked for NBC Spot Sales and Local Sales at WMAQ, NBC's owned and
operated station in Chicago.  He holds a bachelor's degree in Communications
from Southern Illinois University.
The purchase of WGHP-TV and the pending acquisition of KSLX-FM and KOPA-AM,
Phoenix will complete the reinvestment requirement of Great American's tax
certificate.
In addition to WGHP-TV, GACC and its subsidiaries own and operate five other
network-affiliated television stations and 12 FM and six AM radio stations in
the nation's top 50 markets.  GACC's common stock trades
over-the-counter-under the symbol GACC.
CONTACT: Sandra Heimann of GACC, 513-579-2177.
-30- 2231
DEROSE INDUSTRIES REPORTS NET LOSS OF $302,000 FOR PERIOD ENDED SEPT. 30, 1991
12/31/91
91365p5904  PR Newswire
FORT WORTH, TX (DEC. 31) PR NEWSWIRE - DeRose Industries, Inc. today reported
a net loss for the year ended Sept. 30, 1991 of approximately $999,000 on net
sales of $15,296,000 compared to net income of approximately $302,000 on net
sales of $22,260,000 for the year ended Sept. 30, 1990.
For the three months ended Sept. 30, 1991 the company reported a net loss of
approximately $302,000 on the net sales of $3,461,000 compared to net income
of approximately $77,000 on net sales of $6,191,000 for the comparable period
in 1990.
Keith Finley, chairman and CEO, stated that the reversal in the company's
earnings growth was the result of the deterioration of the economic condition
in the Northeast.  He went on to say that notwithstanding the economic
slowdown in the Northeast, the company anticipates that the operating results
at the Chambersburg plant will improve in fiscal 1992.
Finley announced that on Dec. 30, 1991, the company closed the sale of its
Tampa plant for net proceeds of approximately $800,000 in cash. Concurrently,
the trustee agreed to accept the net proceeds in full satisfaction of the
outstanding debt and release the company of further liability.  The company
recorded a net gain on the sale of approximately $800,000 in the first quarter
of fiscal 1992.
He concluded that with the sale of the Tampa plant along with a gradual
recovery in the volume of new home production the company should generate
meaningful earnings in fiscal 1992.
                    DEROSE INDUSTRIES, INC.
                COMPARATIVE FINANCIAL HIGHLIGHTS
Three Months ended Sept. 30;           1991              1990
Net sales                       $ 3,461,000       $ 1,191,000
Net income (loss)               $  (302,000)      $    77,000
Net Income (Loss) Per Share:
   Primary                      $      (.10)      $       .03
   Fully diluted                $      (.10)      $       .03
Twelve Months ended Sept. 30;          1991              1990
Net sales                       $15,296,000       $22,260,000
Net income (loss)               $  (999,000)      $   302,000
Net Income (Loss) Per Share:
   Primary                      $      (.34)      $       .10
   Fully diluted                $      (.34)      $       .10
There were 2,950,909 shares outstanding at Sept. 30, 1991 and 1990.
CONTACT:  Rodney A. Christensen, vice president of DeRose Industries,
817-237-7205.
-30- 2815
PEACH BOTTOM ATOMIC POWER STATION SIREN TEST SCHEDULED FOR JAN. 1
12/31/91
91365p5903  PR Newswire
PHILADELPHIA (DEC. 31) PR NEWSWIRE - All 77 emergency warning sirens in the
Emergency Planning Zone (EPZ) around Peach Bottom Atomic Power Station will be
sounded at the same time on Wednesday, Jan. 1.
The test will take place at 1 p.m. and will last about three minutes.  The
sirens are controlled by emergency management officials in Chester, Lancaster
and York counties in Pennsylvania, and Cecil and Harford counties in Maryland.
Residents are not expected to take any action and emergency organizations will
not respond to the tests.  There will be no radio broadcast messages on the
Emergency Broadcast Stations.
The sirens are tested routinely on the first Wednesday of every month, to
evaluate the working order of the system.
In the case of a real emergency, the sirens would sound for three to five
minutes, alerting residents to listen to Emergency Broadcast System radio or
television broadcasts for information and instructions.
CONTACT:  Michael Wood of Philadelphia Electric, 215-841-4125.
-30- 1384
COLORADO NATIONAL BANKSHARES CALLS FOR REDEMPTION OF ALL OUTSTANDING NOTES
12/31/91
91365p5901  PR Newswire
DENVER (DEC. 31) PR NEWSWIRE - Colorado National Bankshares Inc. (NASDAQ:
COLC), announced today that it has called for redemption all of its
outstanding 11-7/8 percent Notes due Feb. 1, 1993.  The Notes will be redeemed
at par on Feb. 1, 1992.  A Notice of Redemption is being sent by the Trustee
to the holders of the called Notes.  There are currently outstanding
$29,265,000 of these Notes.
Colorado National Bankshares is a Denver-based bank holding company which owns
nine commercial banks providing 24 banking offices throughout the state, as
well as an insurance agency, a mortgage company and a leasing company.  It is
also manager and 50 percent owner of Rocky Mountain BankCard System Inc., a
national credit card issuer and one of the largest processors of credit card
transactions in the country.
CONTACT:  James L. Basey of Colorado National Bankshares, 303-629-1968.
-30- 1261
U.S. HEALTHCARE TO FILE PETITION FOR RATE INCREASE
12/31/91
91365p5896  PR Newswire
BLUE BELL, PA (DEC. 31) PR NEWSWIRE - U.S. Healthcare, Inc. (NASDAQ: USHC)
today announced that it intends to file a petition to annul the decision of
the New York Insurance Department denying the application of U.S. Healthcare's
New York HMO for a rate increase effective Jan. 1, 1992.
The petition will be based upon the arbitrary and capricious action of the
department in disallowing the company's rate application, the company said.
The company noted that its petition is part of the rate regulatory process and
there will be no final determination on its rate application until the appeal
is decided.
The company also announced that preliminary estimates show that membership
growth in its HMOs for January 1992 is running approximately 30 percent ahead
of last year's growth.
CONTACT:  Costas C. Nicolaides, executive vp and chief financial officer of
U.S. Healthcare, 215-283-6843.
-30- 1176
HUSKY OIL CLOSES TRANSACTION BETWEEN PRINCIPAL SHAREHOLDERS
12/31/91
91365p5895  PR Newswire
CALGARY, ALBERTA (DEC. 31) PR NEWSWIRE - Husky Oil Ltd. announced the closing
today of the transaction between its principal shareholders whereby the Li
Ka-shing family and their associated public and private companies purchased
from NOVA Corporation of Alberta (AMEX, Toronto, Montreal, Calgary: NVA) its
43 percent equity in Husky. On Dec. 20, 1991, approval from Investment Canada
was received removing the only outstanding condition required for closing.
Husky will continue to be a private company. The joint interests of Hutchinson
Whampoa Limited and Cavendish International Holdings Limited will increase
from 43 percent to 49 percent, while that of Mr. Li Ka-shing and members of
his family will increase from 9 percent to 46 percent. The Canadian Imperial
Bank of Commerce interest will remain at 5 percent.
Both Hutchinson Whampoa Limited and Cavendish International Holdings Limited
are publicly traded, Hong Kong-based companies which are part of the group of
associated companies, led by Cheung Kong (Holdings) Limited, whose principal
shareholder is its chairman, Mr. Li Ka-shing. The Canadian Imperial Bank of
Commerce is a major Canadian chartered bank.
Husky Oil Ltd. is an internationally active, Canadian-based energy company
with headquarters in Calgary. Husky is involved in all key segments of the
petroleum industry. Husky's assets and business activities are primarily
concentrated in Western Canada.
CONTACT: Dawn Mitchell of Husky Oil Ltd., 403-298-7188.
-30- 1927
RESOLUTION TRUST CORP. SERIES 1991-17 RATED "AAA"/"AA" BY FITCH
12/31/91
91365p5893  PR Newswire
NEW YORK (DEC. 31) PR NEWSWIRE - The Resolution Trust Corp.'s (RTC) $328.5
million mortgage pass-through certificates, Series 1991-17 Class B-1 through
B-6, are rated 'AAA,' and the $23 million Class A-1 and $36.4 million Class
B-7 certificates are rated 'AA' by Fitch.
The 'AA' rating reflects the more than adequate loss protection provided by a
10.25 percent reserve fund, while the 'AAA' rating reflects the reserve fund
and additional credit enhancement provided to the Class B-1 through B-6
certificates by subordination of Class B-7. The ratings also reflect Fitch's
confidence in the integrity of the legal and financial structures, and RTC's
indemnity to certificateholders for any realized losses caused by either a
breach of the seller's representations and warranties or defective mortgage
loan documentation.
The two pools of fixed rate mortgage loans, divided by rates of less than 8.5
percent (Group A) and 8.5 percent or more (Group B), collateralize the
certificates.  The Class A-1 certificates are entitled to interest at the
weighted average net rates of the Group A mortgage loans, and Class B-1
through Class B-7 are entitled to interest from the Group B mortgage loans at
their stated pass-through rates.
The loans generally have original or modified terms to maturity of 15 to 30
years (10 percent are balloon loans), and are secured by one- to four-family
residences, individual condominiums, or planned unit development properties
located primarily in Florida (25 percent) and California (20 percent).  The
overall weighted average loan-to-value ratio (LTV) is about 77 percent, with
about 34 percent consisting of mortgage loans with LTVs greater than 80
percent.  About 10 percent of the loans were between 30 and 89 days delinquent
as of Dec. 1, 1991. While high LTVs and delinquencies increased credit
enhancement levels, this was somewhat offset by favorable seasoning of the
loans.
The collateral has been sold and assigned to the trust who issued the
certificates pursuant to the Dec. 1, 1991, pooling and servicing agreement.
The loans were originated by 15 institutions for which RTC, as conservator or
receiver, has agreed to sell the mortgage loans. National Mortgage Company
will assume all servicing responsibilities as early as March 1992.  A real
estate mortgage investment conduit election will be made for federal income
tax purposes.
CONTACT:  Alexander K. Zabik, 212-908-0500, or Louis A. Colosimo, 212-908-0567
 both of Fitch Investors Service.
-30- 2831
PRINCE GEORGE COUNTY, MD. $38.8 MILLION GENERAL OBLIGATION BONDS RATED "AA-"
12/31/91
91365p5892  PR Newswire
NEW YORK (DEC. 31) PR NEWSWIRE - Prince George's County, Md.'s $38.8 million
general obligation bonds selling competitively Jan. 8 are rated 'AA-' by
Fitch.  Outstanding general obligation bonds are affirmed at 'AA-'.  The
credit trend is changed to declining from uncertain.  The new bonds will
mature serially from Jan. 15, 1993-2012, and are callable on or after Jan. 15,
2003 at 102 percent and declining thereafter.
A multi-year plan to correct an accumulated deficit incurred in fiscal 1991
has been affected by additional revenue shortfalls, particularly reduced state
aid.  Mid-year corrective actions to achieve original deficit reduction
targets for this year are being undertaken. However, additional state aid cuts
threaten.  The county is embarking on a major assessment to permanently
downsize government to maintain its multi-year plan goals and identify
additional savings in the event of subsequent state aid reductions.  The
credit outlook hinges on its success as well as future state funding levels.
Revenue options are limited because the county is at its property tax limit.
Debt factors are positive with low debt levels and rapid principal
amortization.  Long-term economic growth trends and prospects are favorable.
CONTACT:  Richard Raphael of Fitch, 212-908-0506.
-30- 1643
FEDERAL REALTY INVESTMENT TRUST SELLS LAWRENCE VILLAGE PLAZA FOR $7.6 MILLION
12/31/91
91365p5891  PR Newswire
BETHESDA, MD (DEC. 31) PR NEWSWIRE - Federal Realty Investment Trust (NYSE:
FRT) announced today that the Trust sold Lawrence Village Plaza, a
272,000-square-foot shopping center located in New Castle, Pa., for $7.6
million.  The Trust acquired the center in October of 1987.  Robert S. Wennett
 vice president-acquisitions for the Trust, said that this sale was made
pursuant to the Trust's policy of concentrating its ownership of shopping
centers in major metropolitan areas.  The Trust estimates that there will be no
material gain or loss on the transaction.
Federal Realty currently owns 41 neighborhood and community shopping centers
and one enclosed mall primarily in the Mid-Atlantic region between the New
York metropolitan area and Richmond, Va.  The Trust specializes in the
acquisition of older, well-located centers which can be enhanced through
renovation, expansion, reconfiguration and re-merchandising programs.
CONTACT:  Robert S. Wennett of Federal Realty Investment Trust, 301-652-3360.
-30- 1331
NCNB CORPORATION AND C&S/SOVRAN MERGES TO FORM NATIONSBANK CORPORATION
12/31/91
91365p5890  PR Newswire
CHARLOTTE, NC (DEC. 31) PR NEWSWIRE - NationsBank Corporation (NYSE: NB)
became a reality today with the merger of NCNB Corp. (NYSE: NCB) and
C&S/Sovran Corp. (NYSE: CVN).
"Today's historic merger creates one of the nation's premier banking
instituions," said Hugh L. McColl Jr., president and chief executive officer
of NationsBank Corp.
"NationsBank is uniquely positioned in its region.  The company's market
breadth and financial strength will provide value for our shareholders and
unparalleled service for our customers.  The company's vast resources will
make a difference in every community we serve."
NationsBank Corp. spans a nine-state region, from Maryland to Texas, with
approximately 1,900 banking offices.
As was announced last July, C&S/Sovran shareholders will receive .84 shares of
NCNB stock for each C&S/Sovran share held.
Effective January 2, 1992, the NYSE ticker symbol for NationsBank stock will
be NB. It is anticipated that most newspaper stock listings will designate the
stock as NatnsBk. NationsBank is listed on the New York, Tokyo and Pacific
stock exchanges.
NationsBank Corp. is the third largest bank holding company in the United
States.  On September 30, the combined company would have reported $119
billion in assets and full-service offices in Maryland, Washington, D.C.,
Virginia, North Carolina, South Carolina, Georgia, Florida, Kentucky,
Tennessee and Texas.
CONTACT:  Virginia Mackin, NationsBank Corporation, 704-386-5501, or
704-875-1228 (home).
-30- 1925
ANJOU INTERNATIONAL APPOINTS GEORGE SCHMITT CHIEF EXECUTIVE OFFICER
12/31/91
91365p5887  PR Newswire
NEW YORK (DEC. 31) PR NEWSWIRE - Anjou International Co. today announced that
George J. Schmitt has been appointed chief executive officer of Anjou's
Bottled Water Group, including Hinckley & Schmitt, Inc. of Chicago and Sierra
Spring Water Co. of Sacramento, Calif.
Schmitt, chief executive officer of Hinckley & Schmitt since 1965, guided his
company to its current position as the third largest bottled water company in
the United States.  Hinckley & Schmitt and Sierra Spring products are sold in
15 states and in Canada.  Combined, they have more than 1,400 employees and
operate 25 bottled water plants.
Anjou International is a wholly owned subsidiary of Compagnie Generale des
Eaux, one of France's largest publicly traded companies.
CONTACT:  Debra H. Lawrence of Hinckley & Schmitt, 312-586-8600, or Alan
Zachary of Ruder Finn, 312-644-8600, for Hinckley & Schmitt.
-30- 1202
COLORADO SCHOOL DISTRICT PROGRAM TAX ANTICIPATION NOTES RATED "F-1+" BY FITCH
12/31/91
91365p5884  PR Newswire
NEW YORK (DEC. 31) PR NEWSWIRE - Colorado State Treasurer's $146 million
(approximately) tax anticipation notes (School District Cash Flow Program)
Series 1992A are rated 'F-1+' by Fitch.  The TANs will be sold through
negotiation on or about Jan. 6 by a syndicate led by George K. Baum & Company.
 The notes mature on June 30, 1992.
Note proceeds will be used to make loans to school districts to assist in
their cash flow.  The TANs are secured by loan repayments made by
participating school districts.  In addition, the notes are secured by the
state treasurer's covenant to borrow from available funds any amount necessary
to cover school districts' nonpayments and pay the notes in full at maturity.
The rating is based on the substantial resources available to the state
treasurer to fulfill this covenant. These borrowable resources are substantial
 covering the note repayment more than 3 times.  Each district's obligation to
repay its loan is secured by property tax collections, minimizing the
likelihood that the treasurer's pledge will be needed.  Most district's
property tax collections cover their loan amount at least 2.4 times, with only
one borrower lower at 1.4 times.
The School District Cash Flow Program was initiated to assist districts during
this transitional year in school funding in Colorado. The districts are
changing from a calendar fiscal year to one that begins on July 1, with a
transitional "year" running from Jan. 1, 1992 to June 30, 1992.  During this
six month period, revenues will come primarily from property tax receipts.  A
cash flow problem results because property taxes are not due until Feb. 28,
and payment can by delayed until April 30 if the taxpayer decides to pay in
full then.
CONTACT:  Amy S. Doppelt, 212-908-0514 or Claire G. Cohen, 212-908-0552, both
of Fitch Investors Services, for Colorado School District.
-30- 2261
CV REIT COMPLETES REFINANCING OF PRIVATE PLACEMENT
12/31/91
91365p5879  PR Newswire
WEST PALM BEACH, FL (DEC. 31) PR NEWSWIRE - CV Reit Inc. (NYSE: CVI),
announced today it has completed the previously announced refinancing of its
recreation notes receivable in a private placement by an investment banking
firm.  The refinancing resulted in the company borrowing approximately $44
million on a 15-year self-amortizing loan at an interest rate of 8.84 percent.
 "The proceeds from the loan were used to acquire an outstanding prior first
mortgage on one of the properties that is security for one of the notes, and
to retire a $39.2 million bank loan that would have matured in 1993," Alvin
Wilensky, president, said.
He also noted that the company has become aware of the existence of two
lawsuits filed by other institutional lenders against Cenvill Development
Corporation and various of its subsidiaries alleging defaults by Cenvill
Development under certain loan agreements.  CV Reit is owed approximately $49
million on mortgage loans by Cenvill Development and several subsidiaries, all
of which are current and in good standing at this time, he added.  "Should a
default occur in any of the loans due the company, there may be an adverse
effect on the company's earnings and on its future declaration of dividends,"
Wilensky said.
CONTACT:  Alvin Wilensky of CV Reit, 407-640-3155.
-30- 1538
DELAWARE COURT AFFIRMS PARRETTI OUSTER FROM MGM-PATHE BOARD
12/31/91
91365p5878  PR Newswire
CULVER CITY, CA (DEC. 30) PR NEWSWIRE - Citing no fewer than nine "materially
disruptive" breaches of the agreements by which Italian financier Giancarlo
Parretti ceded control of MGM-Pathe Communications Co. last April, a Delaware
judge today confirmed Parretti's removal from the MGM-Pathe board and his loss
of control of the studio.  The decision followed a lengthy trial that had
recently been reopened for additional evidence, which Parretti did not contest
 that Parretti had faked a key document he had relied upon and testified about
in the trial.
In an 89-page opinion replete with instances in which he found Parretti's
testimony on material issues "untruthful," Chancellor William Allen criticized
Parretti's financial dealings in connection with his acquisition of MGM in
1990 and his "efforts to continue to dominate and control the management of
MGM" under Chief Executive Alan Ladd, Jr. Ladd became MGM chairman and chief
executive officer in April 1991, pursuant too a series of written agreements
under which Parretti had given up control of the studio in exchange for a
multi-million dollar cash infusion from studio lender Credit Lyonnais Bank
Nederland, N.V. (CLBN) that rescued MGM from bankruptcy.
"This is an overwhelming victory for MGM and Credit Lyonnais," Ladd said.
"Now that this issue has been definitively resolved, we are anxious to get
back to our original business of creating quality entertainment product.  With
the support of Credit Lyonnais, we intend to see that the lion roars again."
MGM-Pathe President Charles Meeker added"  "Chancellor Allen's forceful
decision closes the door on this troubled period of MGM's existence.  With
continued strong backing from Credit Lyonnais, the way is now open for MGM to
reestablish itself as the greatest international name in filmed entertainment."
Parretti, reported to be under investigation by Italian authorities for tax
evasion, was reportedly arrested at a Rome airport over the weekend while
waiting to board a plane for Tunisia.  Parretti's legal right to remain in the
United States, extended because of the pendency of the trial, has expired and
it was uncertain that Parretti would or could return to this country.
MGM-Pathe Company is involved in the worldwide production and distribution of
motion picture and television programs and operates theatre chains in the U.K.
and Europe.  Pathe Communications Corp. (NYSE: PCC) is a holding company.
CONTACT:  Craig A. Parsons or Cecilia A. Wilkinson of Rifkind Pondel & Parson,
310-207-9300, for MGM-Pathe Communications.
-30- 3024
BUSH ADMINISTRATION RECEIVES PRAISE FROM MACHINE TOOL INDUSTRY
12/31/91
91365p5876  PR Newswire
WASHINGTON (DEC. 31) PR NEWSWIRE - Wade H. Roberts Jr., president of Strippit
 Inc., a leading manufacturer of machine tool equipment based in Akron, N.Y.,
joined other U.S. machine tool manufacturers in praising the Bush
administration's recent decision to negotiate a limited extension of the
machine tool voluntary restraint agreements (VRAs) with Japan and Taiwan.
These VRAs were negotiated in 1986 for national security reasons and expire
today.
Import restrictions on machining centers and computer-controlled machines that
punch, shear, turn and mill metal will be extended for two years.  Said
Roberts:  "Although we had hoped for a longer extension, we are pleased that
the President recognized the importance of the industry to the national
defense and the economy. As an industry, we know what we have to do to achieve
international competitiveness.  We have substantially increased investments in
modern facilities, new product R&D and new technology in general.  We are
almost there and hope the extension will give us sufficient time to complete
the job."
The decision to extend the VRAs, although hard fought within the
administration, received broad congressional support and was championed
particularly by Sen. Alfonse D'Amato (R-N.Y.).  Explained Roberts, "The
senator was an outfront supporter of the fight to extend the VRAs.  We are
especially grateful to him for his willingness to take our message to the
administration."  Roberts also praised Sen. Daniel Patrick Moynihan (D-N.Y.),
Congressman Bill Paxon (R-N.Y.) and the rest of the New York congressional
delegation.
Roberts noted that the President's decision does not afford automatic relief
to the industry.  "The administration still must negotiate with the Japanese
and Taiwanese.  We expect the administration to hang tough in these
negotiations so this temporary relief period serves its purpose of providing
permanent stability for our industry."
CONTACT:  Wade H. Roberts Jr. of Strippit, Inc., 716-542-4511, or Meg Mullery
for Strippit, Inc., 202-342-8439.
-30- 2429
TEXTRON NAMES NEW PRESIDENT, RESTRUCTURES TEXTRON LYCOMING DIVISION
12/31/91
91365p5875  PR Newswire
PROVIDENCE, RI (DEC. 31) PR NEWSWIRE - Textron Inc. (NYSE: TXT) today named a
new president for its Textron Lycoming Turbine Engine Division.  Also,
Lycoming's Williamsport, Penn., reciprocating engine business will become the
Textron Lycoming Reciprocating Engine Division, B.F. Dolan, Textron's chairman
and chief executive officer, announced today.
Dolan said that David G. Assard, 57, formerly vice president and general
manager, turbine products for Textron Lycoming has become president of Textron
Lycoming Turbine Engine Division, effective immediately.  He replaces John R.
Myers, 54, president of Lycoming since 1984, who left the division to pursue
other interests.
He also announced that Philip R. Boob, 51, vice president and general manager
at Williamsport, has been named president of the newly created Textron
Lycoming Reciprocating Engine Divison.
Assard joined Textron Lycoming in 1990.  He was formerly chairman of the Gas
Turbine Corporation of Chromalloy American, East Granby, Conn.  He began his
career with Pratt & Whitney in 1962.
Boob, joined Textron Lycoming in Williamsport as vice president domestic sales
and service in 1985 and became vice president and general manager the
following year.  He previously was director -- product support at Piper
Aircraft Corporation.
Dolan said the decision to separate the reciprocating engine business from the
principal turbine engine business was appropriate given the differences in the
markets they serve.
Textron is a multi-industry company with operations focused in three business
sectors: aerospace technology, commercial products and financial services.
CONTACT: Raymond W. Caine, Jr., vice president of corporate communications of
Textron, 401-421-2800.
-30- 2052
SOBEL ACQUIRES ALL OUTSTANDING STOCK OF BANNER GELATIN PRODUCTS
12/31/91
91365p5872  PR Newswire
ELIZABETH, NJ (DEC. 31) PR NEWSWIRE - Sobel, N.V. announced today that it had
 through a subsidiary, acquired all the outstanding stock of Banner Gelatin
Products Corporation of Chatsworth, Calif.  Banner is a contract manufacturer
of soft gelatin capsules (Softgels) containing pharmaceuticals, nutritional
supplements, cosmetics and food.  Sobel is a Dutch corporation with interests
in processing slaughter by-products, bone processing (gelatin) and pet food.
In March 1990 Sobel acquired Pharmacaps, Inc., a contract manufacturer of soft
gelatin capsules (Softgels) located in Elizabeth, N.J.
With the acquisition of Banner, Sobel's subsidiaries will operate four Softgel
manufacturing plants in North America - two in the United States, one in
Mexico and one in Canada.  Sobel intends to invest in both technology and
capital equipment to enhance the operating performance of its four facilities
in North America, all of which are currently operating at high levels of
capacity.
CONTACT:  Stephen Fischer, 908-354-6900.
-30- 1349
REVCO CLARIFIES DATE FOR CREDITOR VOTE ON PLANS OR REORGANIZATION
12/31/91
91365p5871  PR Newswire
TWINSBURG, OH (DEC. 31) PR NEWSWIRE - Revco D.S., Inc. said today the
deadline for creditors to vote on plans or reorganization for the company is
Jan. 3, 1992.
Some area radio stations have been carrying an erroneous report the deadline
is today.
CONTACT:  Diana Lueptow of Revco, D.S., 216-425-9811, ext. 6145.
-30- 592
APL CORPORATION REPORTS NET LOSS OF $10.44 MILLION FOR FOURTH QUARTER
12/31/91
91365p5870  PR Newswire
MIAMI (DEC. 31) PR NEWSWIRE - APL Corporation today reported results for the
year and quarter ended Sept. 30, 1991.
Consolidated net sales for the year amounted to $109.4 million compared to
$126.5 million in the prior year.  The company recorded a net loss for the
year ended Sept. 30, 1991 of $22,803,000 or $6.12 per share compared to a net
loss of $17,769,000, or $4.77 per share in the prior year, which included a
loss from discontinued operations amounting to $971,000, or $.26 per share.
For the quarter ended Sept. 30, 1991, the company had net sales of $23.6
million compared to $30.3 million in the prior year's comparable quarter and a
net loss of $10,446,000, or $2.80 per share, compared to net earnings of
$11,430,000, or $3.06 per share, in the prior year's comparable quarter.  The
prior year's quarter included a gain from the sale of securities of
$15,364,000, or $4.12 per share.
               APL CORPORATION AND SUBSIDIARIES
                          Three months ended    Year ended
                              Sept. 30,          Sept. 30,
                            1991     1990      1991     1990
                     (In thousands, except per share amounts)
Net sales                $ 23,640   30,302   109,408  126,514
Cost of sales              19,840   25,727    87,659  101,664
Selling, general and
 administrative expenses    8,679    7,511    31,465   30,934
                           28,519   33,238   119,124  132,598
 Operating loss            (4,879)  (2,936)   (9,716)  (6,084)
Other expense, net         (5,557)    (948)  (13,002) (10,564)
 Loss from continuing
  operations before income
  taxes                   (10,436)  (3,884)  (22,718) (16,648)
Provision for income taxes     10       50        85      150
 Loss from continuing
  operations              (10,446)  (3,934)  (22,803) (16,798)
Discontinued operations:
 Loss from operations          --       --        --   (6,335)
 Gain on sale of
  construction segment         --   15,364        --   15,364
 Loss on disposal of
  aluminum doors and
  windows segment              --       --        --  (10,000)
                               --   15,364        --     (971)
 Net (loss) earnings     $(10,446)  11,430   (22,803) (17,769)
(Loss) earnings per share:
 From continuing
  operations               $(2.80)   (1.06)    (6.12)   (4.51)
 Discontinued operations       --     4.12        --     (.26)
  Net (loss) earnings
   per share               $(2.80)    3.06     (6.12)   (4.77)
Common shares               3,727    3,727     3,727    3,727
CONTACT:  Chuck Nolan, vice president of APL Corporation, 305-866-7771.
-30- 3081
MCNEIL INTRODUCES NEW NO DROWSINESS TYLENOL COLD & FLU MEDICINE
12/31/91
91365p5869  PR Newswire
FORT WASHINGTON, PA (DEC. 31) PR NEWSWIRE - When you consider that
Hippocrates prescribed bloodletting, Pliny the Elder, a noted Roman scholar,
instructed cold sufferers to "kiss the hairy muzzle of a mouse" and Indian
medicine men suggested steaming herbal baths, modern medicine has come a long
way in treating the common cold.  The most recent advance in remedies for
colds and flu this season is No Drowsiness TYLENOL(R) Cold & Flu from McNeil
Consumer Products Company.  This new nonprescription cold remedy is the first
and only product in the hot liquid cold medication category available in a
non-drowsy formula.
Today's active lifestyle doesn't leave much time for people to stay home and
nurse themselves back to health.  There are deadlines to meet, children to
care for, and careers to maintain.  No Drowsiness TYLENOL Cold & Flu offers
the maximum available relief without a prescription, and is recommended for
use both at home and at work -- when cold sufferers can't afford to be drowsy.
This new product is designed to effectively relieve cold and flu symptoms,
such as body aches, pains, fever, nasal congestion, coughing, and sore throat,
without the sedating side effects found in many cold remedies.  It also
contains 30 percent more pain reliever (per adult dose) and 50 percent more
cough suppressant (per adult dose) than the leading hot liquid, cold product.
When a cold or the flu strikes, everyone wants to be comforted. Nothing does
that better than a steaming hot mug of No Drowsiness TYLENOL Cold & Flu.  This
pleasant tasting remedy comes in a powder and, when mixed with hot water,
creates a soothing, lemony drink that effectively relieves the symptoms of
colds and flu.
McNeil Consumer Products Company, a member of the Johnson & Johnson Family of
Companies, markets nonprescription pharmaceuticals and other over-the-counter
products.  Its best-known brand is TYLENOL(R) Acetaminophen.
CONTACT:  Ed Watson of McNeil Consumer Products, 215-233-7730, or Todd Cooper
of The Rowland Company, 212-527-8877, for McNeil Consumer Products.
-30- 2494
IMMUNOMEDICS FILES REGISTRATION STATEMENT FOR SALE OF TWO MILLION SHARES
12/31/91
91365p5868  PR Newswire
WARREN, NJ (DEC. 31) PR NEWSWIRE - Immunomedics, Inc. (NASDAQ: IMMU) today
filed a registration statement with the Securities and Exchange Commission for
the sale of 2,000,000 shares of common stock.  The shares will be offered
through an underwriting group led by Allen & Company Incorporated, Kemper
Securities Group, Inc., and SBCI Swiss Bank Corporation Investment Banking
Inc.  Proceeds of the offering will be used to expand clinical trials,
research and development, and for general corporate purposes.
Immunomedics is a biopharmaceutical company applying innovative technology in
antibody selection, modification and chemistry to the development of products
for the detection and treatment of cancers and infectious diseases.  Integral
to these products are highly specific monoclonal antibodies designed to
deliver radioisotopes, chemotherapeutic agents or toxins to tumors and sites
of infections or other diseases.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective.  The
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
CONTACT:  Amy Factor of Immunomedics, 908-647-5400.
-30- 1890
ATLANTIC FEDERAL SAVINGS BANK NAMES GAVIN PRESIDENT, DIRECTOR
12/31/91
91365p5867  PR Newswire
BALTIMORE (DEC. 31) PR NEWSWIRE - Atlantic Federal Savings Bank announced
that Michael P. Gavin, presently executive vice president, has been named
president and a director of the bank and will continue as chief operations
officer.  He will also become a director of Atlanfed Bancorp, Inc.
(NASDAQ-NMS: AFED)  Richard E. Funke remains chairman of the board and chief
executive officer, as well as chairman of the board and president of Atlanfed
Bancorp, Inc., the holding company for the bank and its other subsidiaries,
Atlantic Home Mortgage Corporation, Mid-Atlantic Title Company and Atlanfed
Service Corporation.
Gavin has been employed by the bank in various capacities since 1978.  He has
a B.A. degree from Frostburg State University and an M.B.A. degree from the
University of Baltimore.
Atlanfed Bancorp's primary subsidiary, Atlantic Federal Savings Bank, was
founded in 1897 and currently operates 11 branch offices throughout the state
of Maryland.  Atlantic Home Mortgage Corporation, the bank's mortgage banking
subsidiary, operates loan production offices in Towson, Bel Air and Pasadena,
Md., and in Newark, Del.
CONTACT:  Richard E. Funke or Michael P. Gavin of Atlantic Federal Savings
Bank, 301-938-8610.
-30- 1679
LIBERTY ALL-STAR EQUITY FUND FILES STATEMENT WITH SEC FOR OFFERING
12/31/91
91365p5866  PR Newswire
BOSTON (DEC. 31) PR NEWSWIRE - Liberty All-Star Equity Fund (NYSE: USA) today
filed with the Securities and Exchange Commission a registration statement for
an offering to its shareholders, subject to board approval, of nontransferable
rights to purchase one additional share of All-Star for each 10 shares held.
The terms of the offering, including the subscription ratio, are subject to
board action, expected in early February 1992.
Liberty All-Star Equity Fund is a multi-managed, closed-end investment company
with net assets on Dec. 30, 1991, of more than $590 million.  Its shares are
listed on the New York Stock Exchange, symbol USA.
CONTACT:  John S. Tobey of Liberty All-Star Equity Fund, 203-226-8811.
-30- 953
INVESTMENT COMPANY INSTITUTE MUTUAL FUND SALES TOTAL $22.9 BILLION IN NOVEMBER
12/31/91
91365p5863  PR Newswire
WASHINGTON (DEC. 31) PR NEWSWIRE - Sales of stock and bond and income mutual
funds totaled $22.9 billion in November, according to the Investment Company
Institute, the national association of the mutual fund industry.  This
compares with total sales of $25.2 billion in October and $10.4 billion in
November a year ago.
Total sales during the first 11 months of 1991 reached $207.3 billion,
compared with $135.0 billion during the first 11 months of 1990.
Assets of all mutual funds reached a record $1.317 trillion ($1,316.7 billion)
in November compared with $1.300 trillion ($1,299.6 billion) in October.
Total assets in November 1990 were $1.063 trillion ($1,063.2 billion).
Assets of short-term funds (money market funds, including both taxable and
tax-exempt) rose to $563.4 billion in November from $546.3 billion in October.
Assets of these short-term funds were $505.5 billion in November 1990.
Sales of stock mutual funds totaled $9.1 billion in November, compared with
$9.3 billion in October and $4.3 billion in November a year ago.  Growth and
income funds, with sales of $3.4 billion, continued to lead equity sales
categories.
November sales of bond and income mutual funds totaled $13.8 billion, compared
with $16.0 billion in October and $6.2 billion in November 1990.  Government
bond funds recorded total sales in November of $3.6 billion, about level with
October.  Sales of these funds were $981.6 million in November 1990.
Total redemptions were $10.8 billion in November, compared with $10.2 billion
in October and $7.5 billion in November 1990.  Stock fund redemptions were
$5.0 billion in November, compared with $4.6 billion in October and $3.2
billion in November 1990.  Bond and income fund redemptions were $5.8 billion
in November, compared with $5.7 billion in October and $4.3 billion in
November 1990.
Total net sales of long-term funds, including both stock and bond and income
categories, were $12.1 billion in November, compared with $15.0 billion in
October and $3.0 billion in November 1990.  Net sales of stock funds were $4.1
billion in November, compared with $4.7 billion in October and $1.1 billion in
November 1990.  Net sales of bond and income funds totaled $8.0 billion in
November, compared with $10.3 billion in October and $1.9 billion in November
1990.
Exchanges into stock funds were $4.7 billion; exchanges out of stock funds
were $5.2 billion.  Exchanges into bond funds were $3.0 billion; exchanges out
of bond funds were also $3.0 billion. Exchanges are investments redeemed from
one fund and moved to another fund in the same fund group or complex.
Net cash flow (net sales combined with net exchanges) into long-term funds was
$11.6 billion in November compared with $15.9 billion in October and $3.9
billion in November 1990.  Net cash flow into stock funds was $3.6 billion in
November, compared with $5.0 billion in October and $1.5 billion in November
1990.  Net cash flow into bond and income funds was $8.0 billion compared with
$10.9 billion in October and $2.4 billion in November 1990.
Total underwritings of closed-end funds in November were $2.27 billion,
compared with $310.1 million in October and none in November 1990.
CONTACT:  John Collins, 202-955-3535, or Erick Kanter, 202-955-3530, both of
the Investment Company Institute.
-30- 3827
ARMCO/CYCLOPS SHAREHOLDERS' MEETINGS TO BE RESCHEDULED FOR END OF JANUARY
12/31/91
91365p5859  PR Newswire
PARSIPPANY, NJ (DEC. 31) PR NEWSWIRE - Armco Inc. (NYSE: AS), Parsippany, and
Cyclops Industries, Inc. (NYSE: CYC), Pittsburgh, jointly announced today that
they will reschedule shareholders' meetings originally scheduled for the end
of January.  The purpose of the meetings is to obtain approval from
shareholders of both companies for the proposed merger of Armco and Cyclops.
Specific shareholder record and meeting dates will be established and
announced later.
The companies cited as reasons for rescheduling the shareholder votes various
regulatory approvals which are taking more time than originally expected, and,
given the delayed schedule, the likely requirement of providing shareholders
audited financial information for the full year 1991.  The companies expect to
complete the transaction in the first quarter of 1992.
Cyclops makes flat-rolled stainless and carbon steel; steel tubular products;
special alloys; and designs, fabricates and erects non-residential
construction products.
Armco produces stainless, electrical and carbon steel and steel products.
Through joint ventures, Armco produces coated, high-strength and low-carbon
flat-rolled steels and oilfield machinery and equipment.
CONTACT:  Jim Herzog of Armco, 201-316-5276; or Ed Romanoff of Cyclops,
412-571-6331.
-30- 1585
ANALOG DEVICES WINS $9 MILLION SDI CONTRACT FROM U.S. ARMY DEFENSE COMMAND
12/31/91
91365p5858  PR Newswire
NORWOOD, MA (DEC. 31) PR NEWSWIRE - Analog Devices, Inc. (NYSE: ADI) today
announced that it has been awarded a five-year, $9 million contract by the
U.S. Army Strategic Defense Command (USASDC).  Under the Phase II contract,
Analog will develop two radiation-hardened mixed-signal integrated circuits
for use in the Strategic Defense Initiative (SDI) program.  Both devices are
ultrahigh-performance monolithic analog-to-digital converters that employ the
company's proprietary high-speed pipelined multiple-flash architecture.  One
is a 10-bit, one-million-samples-per-second (MSPS) device and the other is a
12-bit, 10-MSPS device with additional on-chip functionality.
The contract also calls for further development of Analog's proprietary
advanced radiation-hardened bipolar CMOS process, RBCMOS, which will be used
to manufacture the two ICs.
Analog's winning proposal for the more highly-integrated 12-bit device was
based on the company's recently-developed AD872, a 12-bit, 10-MSPS
analog-to-digital converter intended for commercial applications.  Additions
to that design include 16 input channels, a sample-and-hold-amplifier, an
autoranging programmable-gain amplifier and autocalibration capability.
Phase II will build on exploratory work performed by Analog Devices and its
teaming partner, the Raytheon Company's (NYSE: RTN) Equipment Division, during
a Phase I contract that ended in February 1991.  As a subcontract or on Phase
II, Raytheon will provide rad-hard semiconductor processing advice, as well as
radiation testing and evaluation services.
Analog Devices is a leading manufacturer of precision, high-performance
integrated circuits used in analog and digital signal processing applications.
 The company's products are used in industrial, military/aerospace, computer
peripherals, telecommunications, high-end consumer electronics and
transportation applications.  Analog posted fiscal 1991 revenues of $538
million and employs approximately 5,200 people worldwide.  Manufacturing
facilities are located in Massachusetts, California, North Carolina, Ireland,
Japan, Taiwan and the Philippines.
CONTACT:  James O. Fishbeck, director of corporate communications, Analog
Devices, 617-461-3282.
-30- 2670
STANDARD FEDERAL BANK RECEIVES APPROVAL FOR FIVE AFFORDABLE HOUSING PROGRAMS
12/31/91
91365p5856  PR Newswire
TROY, MI (DEC. 31) PR NEWSWIRE - Standard Federal Bank (NYSE: SFB) announced
that it has received $329,644.46 from the Federal Home Loan Bank (FHLB) of
Indianapolis, to finance five Affordable Housing projects totaling 91 housing
units in Michigan and Indiana.  The funds will be used for the following
projects:
Core City Neighborhoods, Inc., Detroit, interest rate subsidy, $46,433.46.
LaCasa of Goshen, Inc., Goshen, Ind., interest rate subsidy & grant, $24,227.
Victoria Park, Detroit, 20 mortgages, $93,894. Victoria Park, Detroit, down
payment & closing cost assistance, $150,000.
Women's Survival Center, Pontiac, Mich., grant, $15,000. The funds are awarded
under this program biannually by the FHLB of Indianapolis.  Applications are
scored on a competitive basis pursuant to program guidelines.
Standard Federal has had 13 Affordable Housing Program applications approved
totaling more than $996,318 since the program began in 1990. This makes
Standard Federal the most active participant in this program throughout
Michigan and Indiana.
Standard Federal Bank has assets of approximately $9.7 billion and operates
120 branches throughout Michigan, Indiana and Ohio.
CONTACT:  Mary M. Fowlie of Standard Federal, 313-637-2534, 800-482-3930 (in
Michigan), or 800-874-3716 (in Indiana).
-30- 1696
GEORGIA-PACIFIC AND BOWATER COMPLETE JOINT ARRANGEMENT REGARDING MAINE MILLS
12/31/91
91365p5854  PR Newswire
ATLANTA (DEC. 31) PR NEWSWIRE - Georgia-Pacific Corp. (NYSE: GP) today said
that Bowater Incorporated (NYSE: BOW) and Georgia-Pacific have entered into
the previously announced joint arrangement regarding the company's Millinocket
and East Millinocket, Maine, mills, hydroelectric assets that power the mills,
the Pinkham Lumber Co. at Ashland, Maine, and approximately 2.1 million acres
of associated timberland.
For $300 million in cash, Bowater purchased an 80 percent ownership position
in the operations.  The jointly owned company, which is called Great Northern
Paper, Inc., will be managed by Bowater.
The joint arrangement gives Bowater the right to purchase Georgia-Pacific's 20
percent interest and gives Georgia-Pacific the right to require Bowater to
purchase the interest on or after June 30, 1992.  The amount to be paid by
Bowater upon exercise of either option would be $22 million.
Georgia-Pacific is one of the world's largest forest products companies,
employing some 60,000 people at more than 500 plants, mills, distribution
centers and offices throughout the United States.  In Maine, Georgia-Pacific
continues ownership of its Woodland, Maine, pulp and paper mill, two building
product manufacturing facilities, two building product distribution centers
and more than 500,000 acres of timberland.
CONTACT:  Sheila Weidman of Georgia-Pacific, 404-521-4732.
-30- 1811
CRAY RESEARCH NAMES MARTIN BUCHANAN GENERAL MANAGER OF NEW SUBSIDIARY
12/31/91
91365p5853  PR Newswire
EAGAN, MN (DEC. 31) PR NEWSWIRE - Cray Research, Inc., (NYSE: CYR) announced
today that Martin Buchanan has become general manager of a wholly owned
subsidiary formed as a result of the company's acquisition of selected assets
from Floating Point Systems (FPS), Beaverton, Ore.  FPS's business centered on
designing, manufacturing and marketing computing systems for scientific,
engineering and technical applications.
Cray Research completed its acquisition of selected FPS assets earlier this
month and incorporated the assets into the as-yet-unnamed subsidiary, to be
operated out of Beaverton.  Cray Research acquired rights to FPS technologies,
system and parts inventories, and equipment to support manufacturing and
development efforts.  Selected customer and vendor contracts also were assumed
as part of the transaction.
Buchanan, who joined Cray Research in 1984, assumes this post after working as
senior director of software and application development for Cray Research's
Entry Level Systems Division since May of 1990.  In this position, Buchanan
oversaw software development for the new CRAY Y-MP EL system.  Previously,
Buchanan served as general manager of Cray Research's Canadian subsidiary
since 1986.  He also has held positions with Sperry Computer Systems Canada
and International Computers Limited in South Africa.  As general manager of
the new subsidiary, Buchanan will report to John Carlson, Cray Research
president and chief operating officer.
"Martin Buchanan has extensive experience in all aspects of the
high-performance computing industry, including marketing, customer support and
services, software development and operations," said Carlson. "His knowledge
and experience will serve this new subsidiary well."
Cray Research creates the most powerful and highest quality computational
tools for solving the world's most challenging scientific and industrial
problems.
CONTACT:  (Media) Mardi Schmieder, 612-683-3538, or (Financial) Laura Merriam,
612-683-7395, both of Cray Research.
-30- 2381
IRT PROPERTY ANNOUNCES SALE OF ITS USG INDUSTRIAL FACILITY FOR $1 MILLION
12/31/91
91365p5849  PR Newswire
ATLANTA (DEC. 31) PR NEWSWIRE - IRT Property Company (NYSE: IRT), the
southeastern shopping center REIT, today announced the sale of its USG
industrial facility in Medina, Ohio, for $1 million cash.
This facility consisted of a single tenant building and approximately 19 acres
of vacant land.  The sale, which was closed on Dec. 27, resulted in a gain to
the company of approximately $784,000, or 6 cents per share.
A self-administered equity real estate investment trust (REIT), IRT is the
largest REIT specializing in southeastern United States shopping centers.
Anchor tenants include Harris Teeter, Wal-Mart, Ingles and other popular
national and regional chain stores.  The portfolio of 88 investments
represents more than 5 million square feet of retail space.
CONTACT:  Mary M. Thomas, executive vice president and treasurer of IRT
Property, 404-955-4406.
-30- 1234
COMMUNITY BANK SYSTEM SIGNS DATA PROCESSING AGREEMENT WITH MELLON BANK
12/31/91
91365p5847  PR Newswire
SYRACUSE, NY (DEC. 31) PR NEWSWIRE - Edwin J. Lyons, president and chief
executive officer of Community Bank System, Inc. (NASDAQ-NMS: CBSI), a $630
million multi-bank holding company based in DeWitt, N.Y., announced today that
the company has entered into a five-year agreement with Mellon Bank, N.A. to
provide data processing services to CBSI.
Lyons stated that this agreement is a major component in the company's program
to improve profitability by restructuring its five independent commercial
banks into a single upstate New York bank, a consolidation which will become
effective on Jan. 1, 1992.  When conversion to the Mellon Data Center is
completed in mid-1992, CBSI projects savings in annual data processing expense
in excess of 50 percent or $1 million compared to 1991's level.
As a result of this decision, the company will recognize an immediate $1.6
million write-down in the value of its wholly owned subsidiary, Northeastern
Computer Services, Inc. (NECS).  This figure is net of the proceeds expected
from the sale of NECS during the first quarter of 1992 to Island Computer
Corporation of Bohemia, N.Y., as reflected in a recently signed letter of
intent.
CONTACT:  David G. Wallace, senior vice president and chief financial officer
of Community Bank System, 315-445-2282.
-30- 1661
THOMAS FREY REJOINS LAW FIRM OF HARRIS BEACH & WILCOX
12/31/91
91365p5845  PR Newswire
ROCHESTER, NY (DEC. 31) PR NEWSWIRE - The members of the law firm of Harris
Beach & Wilcox today announced that Thomas R. Frey, former county executive
for Monroe County, N.Y., has rejoined the partnership of the firm.  Frey had
been a partner with Harris Beach since 1982 until he was elected as county
executive in 1987 to serve a four-year term.
Frey's practice will focus on governmental relations, corporate law and
litigation.  "Tom Frey's return will assist our existing clients throughout
New York State in connection with administrative and legislative matters
before governmental agencies and legislative bodies," stated Gunther Buerman,
managing partner of the firm.
Prior to joining Harris Beach, Frey was senior vice president and general
counsel of the New York State Power Authority from 1979 to 1982. Frey held
government posts throughout his career, including director of state operations
in the administrations of Gov. Hugh L. Carey from 1978 to 1979.  Frey was
elected to the New York State Assembly in 1972, a post he held until 1978.
Appointed to chair the Assembly Steering Committee and the Committee on
Transportation, he also served as a member of the Committees on Ways and Means
 Education, Local Government and Environmental Conservation.  During his
tenure, he coordinated strategy and negotiated legislation in the areas of
education, municipal funding, transportation, Medicaid and pension reform.
The Eagleton Institute of Politics at Rutgers University named him one of 50
outstanding state legislators in the United States.
At the appointment of Gov. Mario M. Cuomo he is currently serving on the New
York State Grant Lakes Basin Advisory Council, the New York State Task Force
on Coastal Resources, and the New York State Commission on State and Local
Fiscal Policies.
"Tom's reputation here in Albany is of the highest caliber, and we are
thrilled to have the opportunity to work with him in the area of legislative
representation," added Terry Burke, partner in the Albany office of Harris
Beach & Wilcox.
Frey is a graduate of Princeton University and the University of California
Law School, Berkeley.  A Marine Corps veteran, he is married to Jacqueline
Cady, and has four children: Matthew, 27; Kathryn, 25; Jennifer, 23; and Sara,
8.
CONTACT:  Hilary C. Guthrie of Harris Beach & Wilcox, 716-232-4440.
-30- 2741
FIRST FEDERAL SAVINGS BANK OF CHARLOTTE COUNTY FORMS HOLDING COMPANY
12/31/91
91365p5843  PR Newswire
PUNTA GORDA, FL (DEC. 31) PR NEWSWIRE - D. R. Witter Jr., chairman of the
board, president and chief executive officer of First Federal Savings Bank of
Charlotte County announced today that the Savings Bank consummated its
reorganization and formation of a savings and loan holding company, F & C
Bancshares, Inc. (NASDAQ-NMS: FSCC).
Witter stated that the Savings Bank's common stock is now wholly owned by
Bancshares and each share of common stock of the Savings Bank previously
outstanding is now deemed to represent one share of common stock of Bancshares
 the new holding company.  The common stock of Bancshares is listed on the
NASDAQ National Market System under the symbol "FSCC," the symbol previously
used for the Savings Bank's common stock.
The reorganization was approved by the stockholders of the Savings Bank at the
Annual Meeting of Stockholders held on Oct. 24, 1991. Witter stated that, "the
reorganization into a holding company form will provide the Savings Bank with
greater flexibility in responding to future financial needs, will increase the
Savings Bank's ability to compete effectively with other institutions in its
market area, and will permit expansion into a broader range of financial
services and other business activities."
First Federal Savings Bank of Charlotte County is a federally chartered stock
savings bank.  The Savings Bank conducts its operations through seven
full-service offices located in Charlotte and Sarasota counties, Florida.  At
Sept. 30, 1991, the Savings Bank had total assets of $369.6 million.
CONTACT:  Linda A. Labor, corporate secretary of First Federal Savings Bank of
Charlotte County, 813-637-3214.
-30- 2042
MTA ANNOUNCES 1992 FEDERAL GRANT PROGRAM FOR ELDERLY AND DISABLED PROVIDERS
12/31/91
91365p5842  PR Newswire
BALTIMORE (DEC. 31) PR NEWSWIRE - The Mass Transit Administration (MTA) today
announced the availability of federal money for capital funds for private,
non-profit organizations in Maryland that provide transportation for the
elderly and disabled.
Groups interested in the Section 16(b)(2) funds should apply to the MTA in
Baltimore by May 1, 1992.
The federal grant funds from the U.S. Department of Transportation/Mass
Transportation Administration awarded under the Section 16(b)(2) program will
provide financial assistance for purchasing capital equipment to be used to
transport elderly and disabled people, said Mass Transit Administrator Ronald
Hartman.
Eligible capital equipment purchases may include buses, vans and other
paratransit vehicles; radios and communications equipment; wheelchair lifts
and restraints; vehicle rehabilitation; microcomputer hardware and software
(must be IBM compatible); and spare parts with a unit cost over $300 and a
useful life of more than one year.
Applicants for the funds are strongly encouraged to attend one of a series of
information meetings to be held around the state in January by the MTA.  At
the meeting, the MTA will distribute the application package.
A package may also be obtained by calling the MTA's statewide transportation
program office, 410-333-2993.  Requests for the package will only be processed
from Jan. 6 through Jan. 31, 1992. Completed applications are due May 1, 1992.
The Section 16(b)(2) grant provides 80 percent of the cost of the equipment
purchased.  The remaining 20 percent must be provided in cash by the applicant
organization from non-federal sources, with the exception that community
development block grants, revenue sharing and Appalachian Regional Commission
funds may be used.
The MTA's schedule of information meetings to discuss the available funds and
necessary application is as follows:
-- Monday, Jan. 6, 9 a.m.  Tri-County Council for Southern Maryland, Route 5,
Charles Hall Shopping Center, Charlotte Hall, Md.
-- Tuesday, Jan. 7, 9 a.m.  Lower Shore Enterprises, Route 50 and Owens Branch
Road, Salisbury, Md.
-- Tuesday, Jan. 7, 2:30 p.m.  Kent Senior Center, Town Office Building, 118
Cross St., Chestertown, Md.
-- Wednesday, Jan. 8, 9 a.m.  Allegany Community College, Continuing Education
Building, Room 17, Willowbrook Road, Cumberland, Md.
-- Wednesday, Jan. 8, 2:30 p.m.  Transerv Basement, 520 N. Market St.,
Frederick, Md.
-- Friday, Jan. 10, 9:30 a.m.  Maryland Rehabilitation Center, 2301 Argonne
Drive, Baltimore.
CONTACT:  Kathy Kohls of the MTA, 410-333-3340.
-30- 3074
NAT'L CATTLEMEN'S ASSN. SAYS AMERICANS WILL EAT MORE BEEF IN 1992
12/31/91
91365p5841  PR Newswire
DENVER (DEC. 31) PR NEWSWIRE - Americans again will eat more beef than any
other meat in 1992, the National Cattlemen's Association pointed out today.
Meat supplies, in total and on a per capita basis, will be record large next
year, economists noted, and retail meat prices are expected to average lower
than in 1991.  The retail beef average is expected to be close to the 1991
average ($2.61 per pound, all grades of beef).
Chuck Lambert, NCA director of economics, said that on a retail weight basis
as generally reported, average annual per capita consumption of chicken now
tops beef consumption.  However, on the basis of actual retail weight as well
as boneless, edible weight, beef remains well ahead of chicken and pork.
"During the last three years," Lambert said, "the U.S. Department of
Agriculture has revised per capita retail-weight data for beef and pork in
order to reflect closer trimming of fat on retail cuts and also increased sale
of boneless products.  However, USDA has not yet revised its data for chicken.
As a result, reported retail weight consumption figures for chicken include
all the bone, skin, gizzard, fat, neck and other parts not generally sold at
retail.  The currently reported chicken retail weight is essentially a carcass
weight rather than a retail weight like the retail weights reported for red
meats.
"The fact is that amounts of chicken actually purchased and eaten by consumers
are considerably smaller than the generally reported figures.  For example, it
is estimated that at least 13 percent of the reported retail weight of chicken
is sold for use in pet food. Estimates are that the retail per capita
consumption figure for chicken may be overstated by at least 20 pounds. Actual
average per capita use on a retail weight basis in 1991 is probably not more
than 56 pounds, compared to a reported 76 pounds per capita.  Beef consumption
on a retail weight basis is estimated at 67.6 pounds, or substantially greater
than chicken consumption."
Lambert went on to note that average per capita consumption of beef on a
boneless, edible weight basis in 1991 is an estimated 63.8 pounds.  Under
USDA's current formula for determining boneless weight, chicken consumption is
52.6 pounds.  However, because some of the skin, neck meat, giblets and other
parts do not go into the retail or food service market, actual boneless,
edible per capita chicken consumption is probably less than 50 pounds per year.
Furthermore, Lambert said, when cooking losses (moisture and fat) and at-home
trimming are considered, it is obvious that Americans are eating considerably
less meat in total -- probably an average of not more than 6 ounces cooked,
per person, per day -- than often is assumed.
Lambert and economists with Cattle-Fax, a cattle and beef market information
service associated with NCA, estimate that average per capita consumption of
the different meats on a boneless, edible, raw basis in 1992 will be:  beef,
63.8 pounds; pork, 51.0; veal, 0.8; lamb, 1.1; chicken, 47.8; and turkey,
15.4.  Total red meat and poultry consumption will be about 180 pounds in 1992
-- a record high.
The beef industry is currently in a herd rebuilding phase, said Tommy Beall,
director of market research for Cattle-Fax.  The total cattle herd on Jan. 1,
1992, is expected to be about 102 million head, up 2 percent from a year
earlier.  Beef production next year will be even to up 2 percent, to a total
of approximately 23 billion pounds.  For the first time since 1985, production
of beef, pork, chicken and turkey all will be larger than a year earlier. The
result will be an increase of an estimated 5 percent in total red meat and
poultry output.
While total beef output will be up, average per capita beef supplies will not
increase.  That is because of larger exports and population growth.
Tom Brink, Cattle-Fax research analyst, said that the large total meat
supplies -- including red meat and poultry -- likely will mean lower average
livestock and poultry prices and, in turn, lower average retail meat prices
next year.
"For consumers," Brink said, "the bottom line is that meat supplies will be
very ample in 1992, and prices will be favorable for consumers."
"With big meat supplies and large numbers of heavy cattle, cattle prices
recently have been down substantially from a year earlier," Beall said.
"Cattle feeders have been losing money, and prices paid to cow herd operators
for calves and cattle to go into feedlots have decreased.  However, most
breeding herd operators have been in a profitable position for several years,
and, barring adverse weather, herds -- and beef production -- are expected to
grow further during the next couple of years."
As measured by per capita expenditures as well as per capita supplies and
consumption, beef continues as the leading meat, Lambert said.  And, with
further improvements in beef products -- such as more closely trimmed retail
cuts and new low-fat ground beef products -- beef should continue to be No. 1
in 1992 and subsequent years.
CONTACT:  Chuck Lambert, 303-694-0305; Tom Brink, 303-694-0323; or Roger
Berglund, 303-694-0305, all of the National Cattlemen's Association.
-30- 5772
UNITED DOMINION REALTY TRUST OFFERS THREE MILLION SHARES OF COMMON STOCK
12/31/91
91365p5831  PR Newswire
RICHMOND, VA (DEC. 31) PR NEWSWIRE - United Dominion Realty Trust, Inc.
(NYSE: UDR) today filed a registration statement with the Securities and
Exchange Commission for an offering of 3,000,000 shares of common stock.  The
stock is expected to be offered to the public in January, 1992.  Proceeds of
the offering will be used to repay short- term debt and to acquire additional
properties.
United Dominion Realty Trust is a Richmond, Virginia based self-administered
equity real estate investment trust that owns and operates primarily
apartments in the South Atlantic region from Virginia to Georgia.
The offering is being managed by Merrill Lynch & Co., Alex. Brown & Sons
Incorporated, A.G. Edwards & Sons, Inc. and Scott and Stringfellow Investment
Corp.
The Trust's Common Stock is traded on the New York Stock Exchange under the
symbol "UDR."
CONTACT:  John P. McCann, President, or James Dolphin, Senior Vice President,
both of United Dominion Realty Trust, Inc., 804-780-2691.
-30- 1363
RAC INCOME FUND DECLARES JANUARY DIVIDEND OF 10.5 CENTS PER SHARE
12/31/91
91365p5825  PR Newswire
COLUMBIA, MD (DEC. 31) PR NEWSWIRE - RAC Income Fund, Inc. (NYSE: RMF) today
announced a monthly dividend of $0.105 per share to holders of record on Jan.
15, 1992, payable on Jan. 31.
The ex-dividend trade date is Jan. 9.
RAC Income Fund, a closed-end investment fund, primarily invests in
fixed-income mortgage-backed securities that are rated AAA or AA by a
nationally recognized agency, or are issued or guaranteed by the U.S.
government, its agencies or instrumentalities.  The fund's goal is to
distribute monthly income that is 150 to 200 basis points greater than the
rate obtainable from U.S. Treasury securities, having the same maturity as the
expected average life of the fund's investments.
CONTACT:  Sylvia Gillan of RAC Income Fund, 410-730-6851.
-30- 1090
NEWMARK & LEWIS TO CLOSE ADDITIONAL STORES
12/31/91
91365p5824  PR Newswire
HICKSVILLE, NY (DEC. 31) PR NEWSWIRE - Newmark & Lewis Inc. (AMEX: NLI), a
specialty retailer of major appliances and consumer electronic products,
announced today that it plans to further down-size its operations into a
14-store chain.  The company is taking this action in response to a continuing
weak economic performance in the retailing industry as a whole and, more
particularly, in its own local market area.  The company believes that this
action is necessary in order to continue operations during the normally weak
post-holiday period that appliance and consumer electronics retailers
experience during the months of January through March of each year.  The
company noted that the down-sizing would constitute a default under the
company's various financing agreements; however, to date, the company's
lenders have not taken any steps with respect thereto.
The company closed 12 of its stores in July, 29 stores in August and September
 and an additional 12 stores will be closed as part of the restructuring plan.
 On Aug. 30, 1991, the company filed voluntary petitions for relief under
Chapter 11 of the Federal Bankruptcy Code and has been operating as a
"debtor-in-possession."
The following are the stores that are to be closed, with inventory liquidation
sales continuing into the second and third weeks of January:
Avenue "U" (Brooklyn) Bayridge (Brooklyn) Bensonhurst (Brooklyn) Bridge Street
(Brooklyn) Carle Place (Nassau County) Cedarhurst (Nassau County) Commack
(Suffolk County) Flatbush (Brooklyn) Lake Success (Nassau County) Levittown
(Nassau County) Riverhead (Suffolk County) Syosset (Nassau County)
CONTACT:  Ronald Fleisher, president of Newmark & Lewis, 516-681-6900, ext.
2446.
-30- 2044
ECOGEN CLOSES $9.5 MILLION EQUITY PRIVATE PLACEMENT
12/31/91
91365p5820  PR Newswire
LANGHORNE, PA (DEC. 31) PR NEWSWIRE - Ecogen Inc. (NASDAQ: EECN) announced
today that it has completed the sale of common stock at $10 per share for
aggregate gross proceeds of approximately $9.5 million before selling
commissions and expenses.  Each investor received, for each share purchased,
one warrant to purchase one share of common stock at $14.  Warrants will be
exercisable until Dec. 26, 1995, and are callable if Ecogen's stock trades for
20 days at $21 or more.
Ecogen Inc. is an agricultural biotechnology company specializing in
biological pest control.  Ecogen has developed and is marketing a number of
novel and proprietary biopesticides, including Cutlass(R) vegetable
bioinsecticide, Foil(R) potato bioinsecticide, Condor(R) forestry and soybean
bioinsecticide and Collego(R) rice bioherbicide.  The company is also
developing products for cotton, corn and home/garden use.
CONTACT:  Peter B. Stevens of Ecogen, 215-757-1590; or investors, Don
Weinberger of Strategic Growth International, 212-826-9622; or media, Anthony
J. Russo, or Karin Eskenazi of Noonan/Russo Communications, 212-979-9180; both
for Ecogen.
-30- 1427
ITEL FORMS TRUST TO MAKE PUBLIC OFFERING OF NEW DEBT
12/31/91
91365p5819  PR Newswire
CHICAGO (DEC. 31) PR NEWSWIRE - Itel Corp. (NYSE: ITL) today announced it has
formed a trust to make a public offering of new debt to be funded from the
future cash flow of the rail car fleet of Itel's subsidiary, Itel Rail Corp.
The amount of debt to be offered depends upon interest rates, and the extent
to which certain existing creditors of the rail car fleet elect to continue
their loans or to be paid with the proceeds of the new debt.  The offering
could be in excess of $1.1 billion.
The interest and principal of the new debt, as well as any existing debt on
the fleet which is not pre-paid, will be paid from proceeds of rent of
approximately $150 million a year from the lease of Itel Rail's existing rail
car fleet to General Electric Railcar Leasing Services Corp., a wholly owned
subsidiary of General Electric Capital Corp.  The lease will be for 12 years,
and at its expiration GE Railcar will have the option to purchase the fleet
for approximately $500 million.  The lease will also provide for the sharing
of certain results generated by the fleet above current levels.
The debt offering and lease execution are subject to conditions and
requirements including completion of the SEC registration process, the ability
to place the new debt within a specified interest limit and to align the new
debt with the existing debt of the fleet, and the consent of a majority of
Itel's shareholders.  There can be no assurance that these transactions will
be completed.
The new debt will be issued by an Itel trust which will operate through a
partnership.  The partnership will include rail cars from GE Railcar Services
and the leased rail car fleet of Itel Rail.
The proceeds of the new debt will be distributed by the trust. "These proceeds
will be used to reduce existing higher cost debt on both the rail car fleet
and other debt of Itel Corp., as well as for general corporate purposes," said
Rod Dammeyer, president of Itel Corp.
Itel Corp. owns Anixter, a leading supplier of wiring systems products for
cable television, voice and data communications and the industrial electrical
cable markets, and has equity interests in other businesses.
CONTACT:  Gloria Waber of Itel, 312-902-1515.
-30- 2706
DAVID LITTLE JOINS WESTERN WASTE AS VICE PRES. RECYCLING, DIVERSION SERVICES
12/31/91
91365p5818  PR Newswire
LOS ANGELES (DEC. 31) PR NEWSWIRE - David F. Little has been named vice
president recycling and diversion services for Western Waste Industries (NYSE:
WW), it was announced today by Kosti Shirvanian, chairman, president and chief
executive officer for this integrated waste service provider.
Little will be responsible for all waste diversion activities including
recycling, material processing and the marketing and sale of products.  He
reports to Mark Bozajian, Western Waste's executive vice president.
Little, 51, joins Western Waste from Browing Ferris Industries, where he was
director of recycling, Pacific Region.  He has 12 years of technical,
administrative and marketing experience in the recycling and material recovery
portion of the solid waste industry. He has also been involved in formulating
recycling and waste management legislation.
He received a bachelor of science degree in business administration from
National University, San Diego and is a member of the California Resource
Recovery Association.
Western Waste Industries is a leading integrated solid waste management
company, providing collection, recycling, composting and disposal services for
commercial, industrial and residential customers.  The company has locations
in California, Texas, Florida, Arkansas, Louisiana and Colorado.
CONTACT:  Richard F. Widrig of Western Waste Industries, 310-329-1425; or
Craig A. Parsons of Rifkind Pondel & Parsons, 310-207-9300, for Western Waste.
-30- 1777
GE CAPITAL RAILCAR SERVICES PLANS LEASE OF ITEL RAIL FLEET
12/31/91
91365p5817  PR Newswire
STAMFORD, CT (DEC. 31) PR NEWSWIRE - GE Capital Railcar Services, a wholly
owned subsidiary of GE Capital, announced today its plan to lease the railcar
fleet of San Francisco-based Itel Rail.  Itel simultaneously announced its
intention to make a public offering, through a newly formed trust, of new debt
to be funded from the proceeds of the lease payments by GE Capital Railcar
Services.
The proposed transaction will bring the GE Capital Railcar owned and managed
fleet to approximately 140,000 railcars.  The combined fleet will be the most
diverse and youngest fleet in the industry.
Robert W. Speetzen, president of GE Capital Railcar Services stated, "This
lease will add a very desirable railcar portfolio to our fleet and will
further enhance our capability to provide premium service levels to both Itel
and GE Capital Railcar customers.  In that regard, all of Itel Rail's customer
agreements will be honored by GE Capital Railcar.
"This transaction will broaden GE Capital's position in value-added asset
management businesses which have been major contributors to our profitable
growth."
The transaction is a 12-year lease with a fixed price purchase option, which
would effectively result in a combination of the railcar operations of the two
companies, with GE Capital Railcar as lessee providing the management of the
cars and service to existing lessees.
GE Capital Railcar Services, a wholly owned subsidiary of GE Capital, is one
of the major railcar leasing companies in North America, currently owning and
operating more than 68,000 railcars, 10 repair facilities, and six wheel
remanufacturing shops.
GE Capital, headquartered in Stamford, Conn., is one of the nation's largest
diversified financial services companies with over $77 billion in assets.
The completion of the transaction is conditioned upon the satisfaction of
certain conditions and requirements, and the ability of Itel to successfully
complete the public offering.  There can be no assurance that these
transactions will be completed.
CONTACT:  Marian R. Powell of GE Capital Railcar Services, 312-853-5443, or
Lisa Berger of GE Capital, 203-357-4346.
-30- 2639
COMERICA TO LOWER PRIME RATE FROM SEVEN PERCENT TO 6.5 PERCENT
12/31/91
91365p5816  PR Newswire
DETROIT (DEC. 31) P RNEWSWIRE - Comerica, Inc. (NYSE: CMA) today announced
that it is lowering its prime lending rate from 7 percent to 6 1/2 percent,
effective Jan. 2, 1992.
CONTACT:  David O. Taylor of Comerica, 313-222-3384.
-30- 508
ESSEX INDUSTRIES EXTENDS OFFER FOR SENIOR SUBORDINATED NOTES OF AMSTAR
12/31/91
91365p5815  PR Newswire
NEW HAVEN, CT (DEC. 31) PR NEWSWIRE - ESSEX Industries, Inc., announced today
that it is extending until 11 a.m., EST, today its cash tender offer for
$86,600,000 principal amount of Amstar Corporation's 11-3/8 percent senior
subordinated notes at a price of $750 per $1,000 principal amount thereof plus
interest accrued thereon from Aug. 15, 1991, to the date of acceptance for
payment.  The offer and withdrawal rights will now expire today at 11 a.m.,
EST.  The offer was previously scheduled to expire at midnight, EST, on Monday
 Dec. 30, 1991.
ESSEX has been informed by Chemical Bank, the depositary for the offer, that
to date, approximately $90 million principal amount of senior subordinated
notes have been tendered pursuant to the offer.
Merrill Lynch & Co. has acted as dealer manager with respect to the offer.
ESSEX and Amstar are wholly owned subsidiaries of ESSTAR Incorporated.
Affiliates of Merrill Lynch Capital Partners hold an aggregate of
approximately 89 percent of the voting power of ESSTAR. ESSEX is a leading
manufacturer and distributor of architectural hardware and related products.
Amstar is a leading manufacturer and distributor of portable electric tools.
CONTACT:  Kenneth J. Jones of ESSEX, 203-777-2274.
-30- 1525
UPDATE: STOR FURNISHINGS SIGNS DEFINITIVE MERGER AGREEMENT WITH IKEA HOLDINGS
12/31/91
91365p5814  PR Newswire
CITY OF INDUSTRY, CA (DEC. 31) PR NEWSWIRE - STOR Furnishings International
Inc. (NASDAQ: STOR) announced today the signing of a definitive merger
agreement with IKEA Holding U.S. Inc. whereby IKEA will acquire STOR for $3.10
per share in cash for each outstanding share of STOR common stock and
nonvoting common stock. The merger agreement provides for the acquisition to
proceed by means of a tender offer for all STOR shares, which tender offer
will commence within five business days.
The tender offer will be conditioned upon, among other things, there being
validly tendered prior to the expiration of the offer and not withdrawn a
number of shares that will constitute, on the date of purchase, at least 90
percent of the outstanding common stock and all of the outstanding nonvoting
common stock.  The merger agreement provides that STOR shares not purchased in
the tender offer will be acquired in the subsequent merger at the same price
as that which is paid in the tender offer.
Sutro & Co. Incorporated has delivered an opinion to the board of directors of
STOR that the proposed sale of the company to IKEA is fair to the shareholders
of STOR from a financial point of view.
The merger agreement also provides for a cash payment of $5 million by the
breaching party to the other upon termination of the merger agreement under
circumstances generally involving a willful failure of a party to honor the
terms of the merger agreement.
STOR Furnishings International operates four home furnishings stores -- three
in the Los Angeles area and one in Houston.  The company's annual sales volume
is approximately $70 million.
IKEA, founded in Sweden, is a home furnishings retailer with 100 locations in
25 countries.  Worldwide sales last year totaled $3.8 billion.  IKEA entered
the U.S. market in 1985 and presently operates seven stores, mainly on the
East Coast.  Last year it opened its first California store in Burbank. Total
sales of IKEA's U.S. stores were $284 million last year.
Richard F. Clayton, STOR chairman and chief executive officer, commented: "The
management and directors of STOR feel that this transaction is in the best
interests of our stockholders, employees and customers.  The prolonged
recession, with its negative effect on housing starts, commercial real estate
and retailers, created difficult problems for a company like STOR, which was
striving to expand its operations.
"Ours is a capital intensive business, and to proceed with our expansion plans
 it is imperative that we seek additional financial resources.  IKEA, one of
the largest and most successful furniture retailers in the world, certainly
has the financial resources to fund that growth.
"The combined operations will continue to provide customers in Southern
California and Houston with affordable, attractive furniture and home
furnishings at everyday low prices."
CONTACT:  Richard F. Clayton, chairman and CEO of STOR, 818-912-8788.
-30- 3425
ALBARA ANNOUNCES MARKETING AGREEMENT WITH OUTBOUND SYSTEMS
12/31/91
91365p5813  PR Newswire
CONROE, TX (DEC. 31) PR NEWSWIRE - Albara Corp. (OTC) reported that its
operating subsidiary, Micro Business Solutions Inc. ("MBSI") has entered into
a strategic marketing alliance with Outbound Systems Inc. ("Outbound") of
Boulder, Colo.  Outbound currently markets a Macintosh-compatible notebook
computer under the Outbound tradename, through authorized dealers nationwide.
The marketing alliance calls for Outbound to manufacture and configure various
notebook computer configurations, add-ons and related products for sale by
MBSI under its own tradename, "RealTech(TM)."  MBSI specializes in marketing to
the Macintosh direct response channel and will supplement Outbound's sales
strategy.
MBSI expects to begin shipment of these notebook computers in the first
quarter of 1992 under the tradename "RealTech TRAVLER(TM)." Configured with an
80 megabyte hard drive and 8 megabytes of RAM, MBSI believes that the TRAVLER
will outperform others in the same price range and will also feature
additional benefits.  In the rapidly expanding Macintosh notebook market,
management of MBSI believes that the TRAVLER will garner a respectable sector
of the market. Management of MBSI believes that sales of this new product line
will significantly contribute to revenues in 1992.  The RealTech TRAVLER, is
expected to be an attractive alternative to the Macintosh notebooks currently
produced by Apple Computer Inc.
Albara, through its operating subsidiary, Micro Business Solutions is engaged
in the sale of computer hardware, peripherals and software for the Apple
Macintosh computer and specializes in system integration under the tradename
"Software and Hardware That Fits."
The common stock of Albara is traded in the over-the-counter market and is
listed in the "Pink Sheets" published by the National Quotation Bureau.
CONTACT:  Holly Arbuckle of Albara, 409-539-2992.
-30- 2300
SUMMIT HEALTH REFINANCES EXISTING DEBT IN $30 MILLION STRUCTURED FINANCING
12/31/91
91365p5810  PR Newswire
BURBANK, CA (DEC. 31) PR NEWSWIRE - Summit Health Ltd. (NASDAQ: SUMH) today
announced that the company has refinanced its existing bank debt in a $30
million accounts receivable-backed structured financing.  A portion of the
proceeds from this financing has been used to repay in full the approximately
$20 million owed to its creditor banks.  The approximately $10 million in
excess funds will be used for general corporate purposes.
"This economic means of refinancing establishes steady cash flow while
substantially reducing our debt and our interest costs," explained Don Amaral,
president of Summit Health.  "The transaction further strengthens our balance
sheet as we pursue continued corporate and financial growth," Amaral said.
Summit Health recently reported a 50 percent gain in net income to $2,462,000,
or $0.08 per share, on revenues of $106.1 million for the company's first
fiscal quarter ended Sept. 30, 1991.  Net income tripled to $7,185,000, or
$0.23 per share, on revenues of $392.3 million for the fiscal year ended June
30, 1991.
Summit Health Ltd. owns and manages hospitals, long term care and retirement
centers, and medical service operations.  The company has 12 acute care
hospitals with 1,648 licensed beds and 56 surgery suites, 17 skilled nursing
centers with 2,230 licensed beds, and four retirement centers with 468
licensed beds.  Summit Health's 33 facilities are located in California,
Arizona, Texas and Iowa.
CONTACT:  Daniel Saks of Summit Health, 213-839-4868.
-30- 1845
SMITHKLINE BEECHMAN RECEIVES FDA APPROVAL FOR RELAFEN
12/31/91
91365p5809  PR Newswire
PHILADELPHIA (DEC. 31) PR NEWSWIRE - SmithKline Beecham (ADS - NYSE: SBH)
today announced it has received approval from the U.S. Food and Drug
Administration to market Relafen(R) (nabumetone), a nonsteroidal
anti-inflammatory drug (NSAID) demonstrated to have efficacy comparable to
other NSAIDs with a low risk for upper gastrointestinal ulcers.
Indicated for acute and chronic treatment of the pain and inflammation caused
by rheumatoid arthritis and osteoarthritis, Relafen is a member of a new class
of NSAID known as naphthylalkanones.
It is known that NSAIDs can cause upper gastrointestinal (GI) ulcers and ulcer
complications in some people.  The low risk for ulcers with Relafen is
reflected in the prescribing information, which indicated that "in controlled
clinical trials, involving 1,677 patients treated with Relafen (1,140 followed
for one year and 927 followed for two years), cumulative incidence of peptic
ulcers was 0.3 percent at three to six months, 0.5 percent at one year, and
0.8 percent at two years."
"Relafen represents a major safety advance in NSAID therapy," said Wilbur
Blechman, M.D., clinical professor at the University of Miami Medical School,
and a Relafen investigator.  "Individuals with arthritis now have available to
them a highly effective NSAID with very little risk to the stomach," Blechman
added.  Upper gastrointestinal ulcers, which include those occurring in the
stomach or duodenum, can lead to life-threatening complications, often without
any symptoms or warning signs.
What distinguishes Relafen from other NSAIDs is that it is nonacidic and is a
prodrug -- that is, it does not become active until after it passes through
the stomach and is biotransformed by the liver.
"We have long been looking for the answer to the classic arthritis treatment
dilemma," said Robert Willkens, M.D., clinical professor of medicine at the
University of Washington.  "In the past, doctors have had to choose among
effective arthritis relief with the risk of ulceration, less-than-optimal
relief with lower ulcer risk, or cotherapy to prevent or treat ulcers.  The
promise is -- with the medicines at hand -- we may no longer have to make that
trade-off."
Currently, there are more than 15 NSAIDs on the market, and few substantial
differences have been demonstrated in their ulcer-causing potential.  "With
Relafen, the 13 million arthritis patients in the United States who count on
these agents to be able to perform simple daily activities will now have a
highly effective medication with an excellent safety record," said Dr.
Jean-Pierre Garnier, president, North America Pharmaceuticals, SmithKline
Beecham.
More than five million prescriptions have been written for Relafen in more
than 15 countries around the world, including Germany, the United Kingdom, and
Japan.  Postmarketing surveillance of more than 26,000 patients in West
Germany and close to 11,000 patients in the United Kingdom have substantiated
the efficacy and safety of nabumetone.
Experience with Relafen in the United States includes clinical trials studying
more than 4,000 patients, some of whom took Relafen for eight years.  The most
frequent side effects were found to be those affecting the upper GI tract,
including diarrhea, abdominal pain, dyspepsia, nausea, and flatulence.
Available by prescription in early 1992, Relafen is designed for convenient
once-a-day dosing.
SmithKline Beecham is a worldwide research-intensive health-care company with
1990 sales of $9.1 billion and an annual research budget of more than $750
million.  In addition to arthritis, SmithKline Beecham scientists focus on the
discovery of drugs to treat infection, cardiovascular disease, central nervous
system disorders, and gastrointestinal disease.
-0-                       12/31/91 /CONTACT:  Jeremy Heymsfeld, 215-751-5166,
or Kathy Varjavandi, 212-704-8217, both for SmithKline Beecham/
(SBH)  CO:  SmithKline Beecham ST:  Pennsylvania IN:  MTC SU:
-30- 4445
MCCLAIN INDUSTRIES REPORTS NET INCOME OF $40,800 FOR FOURTH QUARTER
12/31/91
91365p5808  PR Newswire
STERLING HEIGHTS, MI (DEC. 31) PR NEWSWIRE - McClain Industries, Inc.
(NASDAQ-NMS: MCCL) today announced sales and earnings for the year ended Sept.
30, 1991.
Sales for the year ended Sept. 30, 1991, were $27,564,000 compared to
$30,967,000 in fiscal 1990.  Net income was $665,000 or $.22 a share compared
to net income of $773,000 or $.26 a share during the prior year.
"The nationwide recession and excess manufacturing capacity within our
industry had a direct impact on our sales and net income," said Kenneth D.
McClain, president.  "While we are pleased that fiscal 1991 was a profitable
year, we anticipate that fiscal 1992 will be more challenging.  Although we
continue to gain market share, we expect sales to remain flat until the
economic recovery begins."
McClain Industries is one of the nation's leading manufacturers of solid waste
handling equipment for the waste disposal industry.
                    McCLAIN INDUSTRIES, INC.
              CONSOLIDATED STATEMENT OF OPERATIONS
                      Three Months Ended             Year Ended
                            Sept. 30                  Sept. 30
                        1991        1990          1991         1990
Net sales         $6,770,128  $8,191,078   $27,563,957  $30,967,306
Cost of sales      5,150,639   6,112,685    20,478,290   23,314,046
Gross profit       1,619,489   2,078,393     7,085,667    7,653,260
Selling, general &
 admin. expenses   1,439,921   1,571,784     5,639,916    5,859,272
Operating profit     179,568     506,609     1,445,751    1,793,988
Other income
 (expense)          (125,168)   (168,271)     (456,737)    (549,773)
Income before
 income taxes         54,400     338,338       989,014    1,244,215
Provision for
 income taxes         13,600     171,654       323,600      471,654
Net income           $40,800    $166,684      $665,414     $772,561
Income per share        $.01        $.06          $.22         $.26
Average shares
 outstanding       2,961,302   2,947,941     2,961,302    2,947,941
CONTACT:  Kenneth McClain of McClain Industries,, 313-264-3611.
-30- 2501
OPEN SOFTWARE FOUNDATION ANNOUNCES NEW MEMBER COMPANIES
12/31/91
91365p5805  PR Newswire
CAMBRIDGE, MA (DEC. 31) PR NEWSWIRE - The Open Software Foundation (OSF) is
attracting ever-larger numbers of computer end-users for membership while
expanding its representation among systems vendors and universities, according
to OSF president David Tory.  In today's new member announcement, he said, "We
are very pleased that the end-user community constitutes the fastest-growing
segment of our membership. Since the inception of OSF, it has been our wish to
serve the end users and be responsive to their needs."
New OSF members include 23 end-user organizations, 38 universities, 11
independent software vendors and 10 systems vendors.  For the year 1991, OSF
added 62 new members, increasing its membership by 24 percent and bringing the
percentage of OSF membership represented by end user organizations to 27
percent.
New member companies include:  JC Penney; TeleSoft; Georgia Pacific
Corporation; Bell Communications Research; Interleaf, Inc.; and Honeywell, Inc.
OSF end-user members convey their recommendations to OSF management and the
open systems community through the End User Forum, with active leadership
provided by representatives of ARCO, Citibank, the University of Michigan,
Intergraph Graphics Users Group, and 13 other companies.
OSF also announced the addition of 11 new university members, including Tokyo
Denki University of California at Los Angeles, and Ritsumeikan University.
The Open Software Foundation is a not-for-profit research and development
organization whose goal is to provide a software solution that enables
computers from multiple vendors to work together in a true open systems
computing environment.  OSF uses an innovative open process, soliciting
technologies from the industry at large, and delivering the technology in
source code form.  Headquartered in Cambridge, Mass., OSF has more than 300
members and 275 employees in locations around the world.
CONTACT: Eileen Coons of OSF, 617-621-8754.
-30- 2467
FIRST UNION NATIONAL BANK OF FLORIDA FILES COMPLAINT AGAINST MARGO NURSERY
12/31/91
91365p2829  PR Newswire
MIAMI (DEC. 31) PR NEWSWIRE - First Union National Bank of Florida (the
"bank") has filed a complaint against Margo Nursery Farms, Inc. (the
"company"), in the Circuit Court for Dade County, Florida.  In the complaint,
the bank alleged that the company had breached its loan agreement with the
bank.  The bank is seeking a judgment for the unpaid principal portion of the
loan (approximately $3.6 million), accrued interest, costs and attorney's
fees.  The company's loan is secured by a mortgage on the company's Miami
nursery farm and a security interest in substantially all of the company's
assets in Miami.  The company intends to vigorously contest this litigation
and to file appropriate counterclaims.
The actions of the bank arose as a result of significant financial
difficulties experienced by the company during the last year.  These
difficulties were primarily caused by Benlate 50 DF, a defective fungicide
manufactured by E.I. DuPont de Nemours & Co., Inc. ("DuPont").  The Benlate
contamination has had a substantial, adverse effect on the company's sales,
cash flow and operations.
Since August 1991, the company's management has devoted most of its time and
effort to the preparation of the company's claim against DuPont.  These
efforts have included frequent meetings with Crawford & Company, an insurance
adjuster retained by DuPont, and the development of extensive documentation
supporting the company's claim.  The company expects to begin serious
negotiations with DuPont in early 1992.
If the company is unable to successfully resolve its claim against DuPont in
the near future, the company may not have sufficient funds to repay the bank.
In that event, the company may seek to reorganize under Chapter 11 of the
federal bankruptcy laws.
CONTACT:  Michael J. Spector or James F. Brenner of Margo Nursery Farms, Inc.,
305-255-0550.
-30- 2284
SOUTHMARK ANNOUNCES TERMS OF COMPREHENSIVE SETTLEMENT OF LITIGATION
12/31/91
91365p2826  PR Newswire
DALLAS (DEC. 31) PR NEWSWIRE - Southmark Corporation (OTC) today disclosed
the terms of a comprehensive settlement of litigation with its former chairman
and vice chairman, Gene E. Phillips and William S. Friedman and entities they
control.
"This settlement will enable Southmark to collect considerable value for its
creditors," commented Glen Adams, Southmark's chairman and president.  Adams
noted that the settlement provides for the resolution and extinguishment of
all claims, causes of action, obligations and disputes among the parties.
Pursuant to the settlement agreement, Southmark will receive $13.2 million to
be paid in cash or Southmark's 12 percent secured, redeemable notes due 1997.
The initial payment of $4.0 million is scheduled for Feb. 25, 1992, with an
additional $4.0 million to be paid on May 1, 1992.  The remaining balance of
$5.2 million is to be paid in four payments scheduled through Aug. 27, 1994.
Southmark will also receive a 19.2 percent limited partnership interest in the
general partner of National Realty L.P.  Phillips and Friedman have the right
to repurchase the partnership interest from Southmark for $2.4 million within
three years.  The unpaid balance of the settlement amount will be secured by
newly issued securities having a minimum market value of 130 percent to 145
percent of the unpaid balance and by the balance of the limited partnership
interest in the general partner of National Realty L.P. not conveyed to
Southmark.
Southmark has agreed as part of the settlement to complete the transfer of its
interest in Novus Nevada, Inc. and to convey 15 real estate properties and six
mortgages.  The assets to be transferred are comprised primarily of
undeveloped land and certain multi-family residential properties subject to
foreclosure actions in 1992.
Southmark further noted that, in addition to the pledge of securities securing
the payment to Southmark, Phillips and Friedman, American Realty Trust and
Syntek West, Inc. each will execute and deliver separate, final, nonappealable
judgments in favor of Southmark, each in the amount of $25 million.  The
executed judgments will be held by the United States Bankruptcy Clerk for the
Northern District of Texas - Dallas Division.  In the event of a default,
Southmark is entitled to entry  of those judgments and to recover from the
parties an aggregate of $25 million, subject to reduction for any amounts
previously paid.  If the settlement obligations are met, the judgments will be
returned to the defendants.
Southmark Corporation, headquartered in Dallas, is engaged in the liquidation
of assets in accordance with its court-approved plan of reorganization.
CONTACT:  Charles B. Brewer, executive vice president of Southmark,
214-406-6775, or Susan A. Seiter of Susan Seiter Associates, 817-488-3142, for
Southmark.
-30- 3238
DONALD GROGAN RETIRES AS PRESIDENT OF THE T.W. GROGAN COMPANY
12/31/91
91365p2825  PR Newswire
CLEVELAND (DEC. 31) PR NEWSWIRE - Donald T. Grogan, 69, retired yesterday as
president and chairman of the board of The T.W. Grogan Company, a prominent
Cleveland commercial real estate firm.  His son, Timothy W. Grogan, 37, has
been elected the new president and chairman. Another son, Mark Grogan, 35, has
been elected senior vice president of operations.
Don Grogan came to the family business in 1948, after his military service and
graduation from Western Reserve University.  He became president on the 40th
anniversary of the company's founding in June, 1966, succeeding his father,
Timothy W. Grogan, the company founder.
A local raconteur, versed in literature and the arts, Don Grogan often is
called the "mayor" of Playhouse Square.  He established The Hanna Building,
which the company owns and manages, as one of the most respected addresses in
the heart of Playhouse Square.  Among its prominent tenants are the Cleveland
Foundation, Brush Wellman, Robinson-Conner, Cleveland Council on World Affairs
 Benjamin Rose Institute, Cleveland Opera, and the Singing Angels.
"My brother and I are enthusiastic about the future of The T.W. Grogan Company
" said Timothy Grogan.  "We plan to continue the long tradition of excellence
our grandfather and father have established through the years."
Besides The Hanna Building, The T.W. Grogan Company also owns and manages the
Osborn Building along with several parking lots in downtown Cleveland, the
Aurora Commons office building and shopping center in Aurora, and The Phelps
Townhouse, a 140-unit exclusive downtown Cincinnati apartment complex.
CONTACT: Timothy W. Grogan of The T.W. Grogan Company, 216-241-5080.
-30- 2021
CLOSING IMM CURRENCY FUTURES: MIXED
12/31/91
91365o0010  Futures World News
Chicago-Dec. 31-FWN--THE IMM FOREIGN CURRENCY FUTURES finished today's
abbreviated session mixed following a quiet and dull trading.
Once again, the Japanese yen led on the upside, gaining ground against the
dollar and its other foreign counterparts. Expectations that trade resolutions
between Japan and the United States will incorporate lower dollar/yen levels
fueled the advance in the yen, driving the March contract to new contract
highs at .007993.
Continued unwinding of short yen spreads lent additional support to the yen
and contibuted to the decline in the European units.
Trading was otherwise dull and light, with most books closed for the year
weeks ago, traders said.
Earlier, news that the government's Index of Leading Economic Indicators (LEI)
fell 0.3n November after an unrevised 0.1ise in October had no impact on the
market as the decline was well within industry forecasts.
Similarly, news that single-family home sales were unchanged in November was
ignored, traders said.
In the interbank market, at the early noon CST IMM close, the dollar stood at
1.5175 German marks; 124.80 Japanese yen; 1.3560 Swiss francs; 1.8675 British
pounds; 1.1552 Canadian dollars; and .7593 Australian dollars.
On the futures side, for March contracts, the mark settled unchanged at .6511,
the yen up 49 at .007991, the Swiss franc down 15 at .7300, the British pound
up 34 at 1.8448, the Canadian dollar up 16 at .8602 and the Australian dollar
up 16 at .7565.
-30- 1746
CLOSING N.Y. ENERGIES: CONTRACTS REVERSE COURSE, END HIGHER
12/31/91
91365o0009  Futures World News
New York-Dec. 31-FWN--NEARBY ENERGY CONTRACTS REVERSED course from their
early declines to settle with strong gains with the January products expiring
at the close.
The London energy market had remained close since the opening of the New York
Mercantile Exchange (NYMEX), where the energy futures closed at noon CST.
NYMEX will be closed Wednesday.
The revived strength was attributed primarily to technical factors with
background support coming from expectations for a drawdown of 2 million to 3
million barrels in crude stocks in this week's American Petroleum Institute
(API) statistics, sources said.
The February crude oil trading above support at previous lows of $18.30 and
then remaining above $18.50-- which has been support when looking only at
settlement prices--allowed for the late session rally, sources said. Also,
some traders use an "outside-in" theory that the February crude opening below
the previous day's range and then trading into that range allows for a test of
the other end; the February crude opened below $18.56 and then traded above
that level to set the stage for a test of the Monday high of $19.02.
Heating oil prices had remained the weakest component with the February
contract falling 29 points to a session low of 52.65 cents, noted Peter C.
Beutel, director of the energy group at Pegasus Econometric Group. "I think it
got to the point where it was margin call (selling) and momentum," said Beutel.
The price activity in the intramarket products spreads suggests traders were
conducting last minute rolling of positions ahead of the expiration and profit
taking on short positions following recent declines and ahead of the Thursday
holiday.
"There was no new news out there to support this rally --it was primarily
technical factors with the thin volume helping," said one source with a major
energy trading group.
Traders will be awaiting any developments in the Russian republic and other
CIS republics with the new monetary adjustments Thursday, sources said.
On the day, February crude was 50 cents higher at $19.15 and other contracts
were 33 cents to 56 cents higher.
In the January products, unleaded gasoline expired 50 points higher at 54.50
cents and heating oil was 72 points higher at 48.80 cents. Other contracts
were 1 point lower to 131 points higher.
-30- 2655
CLOSING STOCKS: REBOUND AND FINISH HIGHER, NEAR RECORDS
12/31/91
91365o0008  Futures World News
Chicago-Dec. 31-FWN--STOCK AND STOCK INDEX FUTURES rebounded and closed
higher, racking up the best gains in December ever.
On heavy volume, stock and stock index futures edged higher from weaker midday
levels after the market failed to follow through on the downside, traders
said. Buy programs tied to index arbitrage aided the rebound, they said.
"This market is showing no signs of losing momentum," said one floor trader,
noting that up volume jumped back ahead of down volume and that Big Board
advancing issues surged ahead of decliners this afternoon. "It's truly
remarkable."
Stock and stock index futures opened slightly higher and ran up to new
all-time highs, with gains exacerbated by buy programs linked to index
arbitrage before pulling back suddenly. Sell programs helped send stock and
stock index futures to their lows and sent S&P 500 Index futures falling amid
"fast market" conditions briefly going into midday.
But the lack of follow-through on the downside drew in buyers, pushing the
market back toward it highs, traders said.
Still, traders said the market remains extremely overbought and a technical
correction is far overdue. Many predict profit taking could be realized as
soon as Thursday, when the market reopens following the New Year's Day holiday.
Earlier, news that the index of Leading Economic Indicators fell by 0.3n
November after an unrevised 0.1    ]] rise in October was all but ignored by
the market, partly because it was viewed as "old news" and partly because it
met industry expectations.
News that single family home sales were unchanged in November also failed to
move the market.
"This market is in its own world and it's feeding off of itself," said one
trader.
At the close, estimated volume for March S&P 500 Index futures was approaching
39,000.
In New York, volume on the Big Board registered 253.60 million shares, with up
volume over down volume 148.06 million to 81.73 million. Big Board advancers
led decliners 1,244 to 600; 386 were unchanged.
Dow Jones Industrial Average closed 4.92 points higher at 3,168.83. Transports
gained 13.09 to close at 1,358.00 and utilities ended up 2.44 at 226.15.
S&P 100 Index up 1.01 at 385.56.
S&P 500 Index up 1.95 at 417.09 and the March futures contract up 1.80 at
418.20.
NYSE Composite Index up 1.22 at 229.44 and the March futures contract up .85
at 229.65.
Major Market Index down .18 at 343.75 and the January futures contract up .40
at 344.00.
NASDAQ over-the-counter index up 6.59 at 585.34.
-30- 2899
CLOSING FINANCIALS: HIGHER CLOSE IN THIN HOLIDAY SESSION
12/31/91
91365o0007  Futures World News
Chicago-Dec. 31-FWN--FINANCIAL FUTURES FINISHED THE DAY at firmer levels, but
off session highs on profit taking. Volume was relatively thin during today's
abbreviated session because of the New Year's Eve holiday.
Debt futures extended Monday's rally and the March T- bond contract continued
churning to new contract highs today. The underlying bullish sentiment remains
strong in the long end of the market as sources point to expectations of
moderate inflation and a sluggish economy in early 1992. "The economy just
isn't picking up a whole lot of steam," one economist said.
"The trend is really bullish--dips are a chance to buy," one bond analyst said.
The government today reported a 0.3rop in November Leading Economic Indicators
(LEI) data to 145.1. This was in line with market expectations and bond prices
fell to session lows as traders took profits, sources said.
Later, the government reported single-family home sales were unchanged in
November at 520,000--weaker than the expected 0.9ise. Following this report,
bond prices gained strength throughout the morning, scoring new contract highs
and triggering buy-stop orders.
The yield curve continued to flatten today as the gains were most pronounced
in the long end of the curve. "There is a lot more impetus in the long end as
people stretch out for more yield," one analyst explained.
Traders foresee more upside potential for bond prices heading into 1992--with
one analyst expecting the long bond to test a 7.25ield by the end of first
quarter. In the March futures contract, technicians expect the bond to test
the all-time high--105 15/32, scored in April 1986--within the next week and a
half.
The all-time high is seen as an "important barrier" for the bond contract and
one source said there could be some "corrective profit taking after we reach
that objective."
To the downside, minor technical support is seen for March bonds at the 104
8/33 level, while major support is pegged at 103 30/32.
The Federal Reserve entered the open markets early today with 2-day system
repurchase agreements, while Fed funds were trading at 4Fed watchers were not
surprised by this intervention and said the move was initiated ahead of
regular "Fed time" because of today's early close.
The financial markets will be closed Wednesday in observance of the New Year's
Day holiday.
On Thursday at 7:30 a.m. CST, the initial jobless claims report is scheduled
for release and is expected to show a 463,000 figure.
At 9 a.m. CST, the National Association of Purchasing Management is scheduled
to release its December index, which is expected to show a 48.5igure.
The government is also scheduled to report construction spending data,
forecast to show a 0.5rop in November.
U.S. auto sales for the Dec. 11-20 selling period are also scheduled for
release Thursday.
-30- 3216
CLOSING N.Y. PRECIOUS METALS: HIGHER ON SHORT COVERING
12/31/91
91365o0006  Futures World News
New York-Dec. 31-FWN--SHORT COVERING AND THIN MARKET conditions allowed the
metals complex to score moderate gains in holiday-shortened sessions.
Floor sources said gold garnered strength off a recovering platinum market and
a general rebound from its own recent weakness.
"The only buying out here on the close was locals. Locals were short and they
just got out near the close," one floor source said.
As anticipated, metals trade was choppy and thin because of the holidays and
closings in the foreign markets.
Platinum futures continued to build on Monday's gains via continued short
covering.
"J. Aron was buying platinum yesterday because the Japanese market was closed
and there was a lot of short covering," said one platinum trader. "Today,
there's just more short covering."
There was managed account fund buying in the silver today, one floor analyst
said. Noted buyers included Tudor and Great Lakes, sources said.
"There was managed account buying or evening-up in the silver," the analyst
said.
Gold found some early selling from Man but the market moved right back up on
general short covering. The daily highs were reached on late local buying,
sources said.
"There were very light stops above $355 (basis February gold), which was
Friday's settlement," one pit source noted.
February gold closed $1.30 higher at $355.20, while other positions were $1.30
better as well. March silver finished 3.4 cents higher at $3.912. Other
contracts were 3.7 cents higher to 1.7 cents lower.
April platinum closed $2.40 higher at $338.50 with other positions $2.40 to 60
better. March palladium ended 25 cents stronger at $80.50.
-30- 1962
N.Y. PRECIOUS METALS FUTURES CALLED MOSTLY STEADY
12/31/91
91365o0005  Futures World News
New York-Dec. 31-FWN--PRECIOUS METALS FUTURES ARE expected to open around
unchanged levels this morning, based on quiet London activity.
Gold is called unchanged to 50 cents better, silver is called unchanged,
platinum is called unchanged to $1 lower and palladium is called unchanged.
Hong Kong gold finished slightly firmer on short covering and end-of-year
position squaring. Ranges remained narrow, with bullion ending at
$353.10/$353.60 against Monday's New York close of $352.80/$353.30.
London gold was fixed at $353.40 this morning, in line with the Asian close.
The Tokyo Commodity Exchange (TOCOM) was closed and will remain so through
this week. Platinum was fixed at $334.20 in London after the New York Merc's
short-covering push Monday. Silver was trading at $3.87/$3.89.
Floor sources expect subdued activity today as the exchanges close early for
the New Year's holiday. On the Commodity Exchange (COMEX), gold will close at
11 a.m. CST, while silver wraps up trade at 10:55 a.m. CST. On the Merc,
platinum and palladium futures will cease trade at 11:45 a.m. and 11:40 a.m.
CST, respectively.
Although traders expect little response from the numbers, the Commerce
Department will issue the November Index of Leading Economic Indicators at
7:30 a.m. CST.
-30- 1545
CBT FINANCIAL FUTURES CALLED TO OPEN HIGHER
12/31/91
91365o0004  Futures World News
Chicago-Dec. 31-FWN--BASED ON CURRENT ACTIVITY IN London, March T-bond
futures are called to open near 104 13/32, which is 3/32 higher than Monday
evening's suspended trade. Monday evening's trading session had a range of 104
5/32 to 104 10/32.
A spot check in London shows a current price of 104 13/32, with a session low
of 104 10/32 and a session high of 104 13/32.
The pivot point is 103 31/32. Resistance is seen at 104 18/32 and 104 28/32
while support is seen at 103 21/32 and 103 2/32.
-30- 713
IMM FINANCIAL FUTURES EXPECTED TO OPEN HIGHER
12/31/91
91365o0003  Futures World News
Chicago-Dec. 31-FWN--BASED ON CURRENT ACTIVITY IN London, March Eurodollar
futures are expected to open near 95.96, which is 3 basis points higher than
Monday's close. Monday's U.S. trading session had a range of 95.92 to 95.94.
A spot check in London shows a current March Eurodollar price of 95.96, a
session low of 95.93 and a session high of 95.96.
Fed funds are called to open near 4 3/8Trade Monday was between 3 1/2nd 4 1/2%.
The pivot point for the March Eurodollar is 95.93, with resistance at 95.94
and 95.95 and support at 95.92 and 95.91.
The pivot point for the March T-bill is 96.32, with resistance at 96.33 and
96.35 and support at 96.30 and 96.29.
-30- 900
IMM CURRENCY FUTURES CALLED TO OPEN MIXED
12/31/91
91365o0002  Futures World News
Chicago-Dec. 31-FWN--BASED ON CURRENT ACTIVITY IN London, for March futures
contracts, the British pound is called to open 50 to 70 basis points higher,
the German mark is called to open 10 to 20 basis points lower, the Swiss franc
is called to open 5 to 15 basis points lower and the Japanese yen is called to
open 45 to 55 basis points higher.
The Canadian dollar is called to open 5 to 15 basis points higher.
-30- 619
EARLY N.Y. ENERGY CALLS: UNCHANGED TO LOWER
12/31/91
91365o0001  Futures World News
New York-Dec. 31-FWN--CRUDE OIL FUTURES ARE CALLED TO open 5 cents to 10
cents lower.
The products are called to open unchanged.
-30- 328
TEN-METER-LONG WHALE RESCUED FROM GULF PORT IN UNITED ARAB EMIRATES
12/31/91
91365l0104  Deutsche Press-Agentur
ABU DHABI (DEC. 31) DPA - A large whale was rescued Tuesday after it lost its
bearings and entered Zayed Port in the United Arab Emirates (UAE).
The Kuwaiti News Agency (KUNA) said divers managed to attach a line to the
10-metre-long whale. A tug towed the mammal to the open sea where it swam off.
-30- 546
FRANCE EXTENDS DIPLOMATIC RECONGITION TO EIGHT OF 11 FORMER SOVIET REPUBLICS
12/31/91
91365l0103  Deutsche Press-Agentur
PARIS (DEC. 31) DPA - France Tuesday extended diplomatic recognition to eight
of the 11 former Soviet republics linked in the Commonwealth of Independent
States.
Officials said recognition was withheld from Kirghizia and Tajikistan because
these two republics had not fulfilled the conditions laid down by France with
respect to human rights.
France had early recognised Russia as the legitimate successor to the now
defunct Soviet Union.
-30- 775
VIETNAM TENTATIVELY TRIES OUT CAPITALISM TO CURE ITS ECONOMY
12/31/91
91365l0100  Deutsche Press-Agentur
HANOI (DEC. 31) DPA - "Das Kapital" by Karl Marx is gathering dust on the
bookshelves of bureaucrats in Hanoi.
Nor are the writings and model concepts on planned economic systems drafted by
professors of the former communist East Bloc worth even one dong in the
Vietnamese capital.
"Right now, we are learning how to walk again," remarks Le Dong Doanh, one of
the few management experts in Hanoi who is at least half-way acquainted with
capitalist economic methods. "We are crawling like market economy babies."
Vietnam has been desperately searching for nearly a year now for a way out of
its economic misery and is grasping at captialism as the last straw.
"We are throwing the old textbooks away, but we still don't have any new ones
" complains Doanh, who received his educational training in the former East
Germany.
Even after the Communist Party has been banned in Moscow itself, Vietnam's
ruling communists are stubbornly holding to the ideal of socialism - while
trying out capitalism in the economic sphere.
But the economic functionaries, imbued to the core with the teachings of the
bankrupt command-economy system, feel anything but at home in the free market.
Doanh knows what must be done, even if it is a huge task.
"We have to get rid of the old way of thinking, we must democratise the
guidance mechanism and eradicate corruption in the state apparatus," he said.
Five years ago, towards the end of 1986, Vietnam risked an experiment with the
free market economy, and last July at a Communist Party congress the
commitment was made to keep pursuing the reforms.
But Hanoi's dilemma remains the lack of experience among its leading economic
cadres when it comes to western management methods.
"We don't have the teachers and we also lack the next-generation talent which
we urgently need," Doanh said.
There are still no departments of capitalist economics at Vietnamese
universities, and in step to acquire western economic know-how and thinking,
Hanoi's diplomats abroad are now enrolling in business management courses in
the countries where they are posted.
Doanh points to another major task ahead: "We urgently need to reform our
underdeveloped banking system and credit mechanism."
Bonn, which recently resumed official economic aid to Hanoi, will be
supporting efforts in the banking sector.
At the moment, all that the Vietnamese central bank can think of doing to try
to plug the increasing budget gap is to keep printing more and more 5,000-dong
notes. The gap above all is the result of Hanoi keeping unprofitable state
enterprises afloat with billions of dong in subsidies.
At the same time, the central bank bureaucrats keep putting obstacles in the
way when fledgling private enterprise companies come looking for credits.
Vietnam's economic fortunes have especially been set back by the mounting
problems in the East Bloc and by the cutoff of Soviet funds this year.
And creating further indigestion for Hanoi's economic planners has been
Washington's continued application of sanctions against Vietnam.
"In order to carry out our reforms we'll need at least 30 billion dollars in
credits by the year 2000," Doanh calculates. But the U.S. embargo effectively
blocks Hanoi's access to loans from the World Bank and International Monetary
Fund.
-30- 3742
FRENCH DEFENSE MINISTER HOLDS MILITARY TALKS IN OMAN
12/31/91
91365l0099  Deutsche Press-Agentur
MUSCAT (DEC. 31) DPA - French Defence Minister Pierre Joxe Tuesday held talks
with senior Omani officials on Gulf security and military cooperation.
Joxe met separately with Oman's Deputy Premier for Security and Defence
Affairs, Fahd bin Taymour al-Saed, and Minister of the Palace Affairs,
Lieutenant General Ali bin Majed al-Maamari.
The talks centered on cooperation between Oman and France in various fields
and issues of mutual interest, reports said.
Joxe flew in Monday from Abu Dhabi where he held talks with United Arab
Emirates (UAE) President Sheikh Zayed bin Sultan al-Nahyan.
-30- 949
UKRAINE APPLIES TO JOIN INTERNATIONAL MONETARY FUND
12/31/91
91365l0094  Deutsche Press-Agentur
WASHINGTON (DEC. 31) DPA - Ukraine has applied to join the International
Monetary Fund, the IMF said on Tuesday.
A spokesman said the fund's executive would study the request and pass on its
recommendation to the board of governors.
The IMF earlier this month set up a regional department to assist the nemwly
independent states spawned by the break-up of the Soviet Union.
-30- 651
GAS LEAK KILLS 30 MEMBERS OF PROTESTANT SECT IN TEMPLE CEREMONY IN MEXICO
12/31/91
91365l0088  Deutsche Press-Agentur
MEXICO CITY (DEC. 31) DPA - A gas leak killed 30 members of a protestant sect
during a religious ceremony at a temple in central Mexico, news reports said
on Tuesday.
Butane gas leaked from an oven during a service held by a Pentecostalist group
in the village of Venado, 400 kilometres northeast of Mexico City.
Local prosecutors ruled out a mass suicide. Thirteen children were among those
who died in the incident, which occurred on Sunday.
A survivor was quoted as saying the worshippers refused to leave the temple
after becoming dizzy and vomitting because they thought they felt the presence
of God.
Another survivor said the pastor told the congregation to remain in the
building because ''God is coming''.
-30- 994
FIGHTING IN GEORGIAN CAPITAL INTENSIFIES PRIOR TO NEW YEAR'S CEASE-FIRE
12/31/91
91365l0086  Deutsche Press-Agentur
MOSCOW DEC. 31) DPA - Battles for control of the Georgian capital intensified
Tuesday in advance of a rebel-proclaimed unilateral New Year's ceasefire which
held out the prospect for peace talks.
Rebels in the erstwhile Soviet republic said their forces would hold fire on
New Year's Eve. But they renewed their demand for besieged President Zviad
Gamsakhurdia to surrender.
''Naturally, we want to celebrate the New Year at home. Tbilisi will have a
quiet night, that I can promise,'' said Djaba Iaseliani, a leading member of
the opposition forces, according to the Moscow newspaper Komsomolskaya Pravda.
The unilateral ceasefire was being viewed as an opportunity for both sides to
attempt to meet again for talks, according to Interfax news agency. The last
attempt broke up in disarray Saturday evening.
Iaseliani said opposition forces had refrained from storming the government
complex where Gamsakhurdia is in hiding because there were several hundred
inexperienced 18- to 20-year-old guards helping to protect the president.
''We don't want any bloodshed,'' Iaseliani said. But he added, ''Any
resistance by the president is futile. If he does not see this, then we will
have to storm the building.''
-30- 1586
EIGHT KILLED, 17 INJURED IN BANGLADESH BUS ACCIDENT
12/31/91
91365l0085  Deutsche Press-Agentur
DHAKA (DEC. 31) DPA - Eight persons were killed and 17 injured Tuesday when a
bus carrying vacationing students overshot a bridge and plunged into an
irrigation canal.
Police said the mishap occurred when the driver swerved to avoid an oncoming
truck coming near the town of Dhamrai, 35 kilometres west of Dhaka.
More than 2,000 people died in road accidents in 1991 in Bangladesh, according
to police statistics.
-30- 626
SOME 380 KILOS OF DRUGS SEIZED IN IRANIAN BORDER PROVINCE
12/31/91
91365l0083  Deutsche Press-Agentur
TEHERAN (DEC. 31) DPA - Some 380 kilograms of drugs, including heroin and
opium, were seized in the eastern province of Sistan-Baluchestan this month,
the Iranian news agency IRNA said on Tuesday.
IRNA said 254 persons were arrested for drug trafficking or other smuggling
offences. Arms and ammunition as well as pornographic literature and tobacco
were also seized, it said.
Sistan-Baluchestan borders Pakistan and Afghanistan. The province is
frequently infiltrated by armed drug traffickers from the two neighbouring
countries, the news agency said.
-30- 819
POLICE DIVERS RECOVER TON OF HASHISH OFF SPANISH COAST
12/31/91
91365l0077  Deutsche Press-Agentur
MADRID (DEC. 31) DPA - Police divers have recovered a ton a hashish sunk 100
metres deep in the Atlantic and marked with buoys twelve sea miles off the
Spanish coast, it was announced Tuesday.
Police in the nearby town of Santiago de Compostela said the operation had
lasted a week. They believed the hashish was destined to be landed in the
Asturia or Basque regions and then distributed in northern Europe.
-30- 633
NEPAL CABINET MINISTRY RESHUFFLE SHARPENS PARTY DIFFERENCES
12/31/91
91365l0076  Deutsche Press-Agentur
KATHMANDU (DEC. 31) DPA - A major reshuffle of the Nepalese cabinet has
sharpened differences between Prime Minister Girija Prasad Koilara and other
leaders of the ruling Nepali Congress, newspaper reports said Tuesday.
In Monday's reshuffle, Koirala dropped six senior ministers known to be close
to party head Ganesh Man Singh and party acting president Krishna Prasad
Bhattarai.
Koirala brought in 13 new faces, only one at cabinet rank. Almost all were
loyal Koirala supporters, and Singh and Bhattarai had been snubbed by the
reshuffle, press comment said.
Koirala, who swore in his new ministers Tuesday, told reporters he had not
sacked the six ministers but had asked them to strengthen the party apparatus.
-30- 1039
DISPLACED HINDU MIGRANTS FROM KASHMIR SCUFFLE WITH POLICE IN NEW DELHI
12/31/91
91365l0075  Deutsche Press-Agentur
NEW DELHI (DEC. 31) DPA - Displaced Hindu migrants from Kashmir scuffled with
police Tuesday in New Delhi as Indian Prime Minister P.V. Narasimha Rao
indirectly blamed Pakistan for launching a ''proxy war'' against India.
About 50 protesters were taken into custody after they broke through security
cordons and blocked traffic for more an hour in the busy downtown Connaught
Place area by deflating several government-owned passenger buses.
The migrants wanted to submit a petition to Rao, who was chairing a
high-powered National Integration Council meeting at nearby Parliament House,
to discuss the situation in violence-prone states of Kashmir and Punjab.
The 12-point charter includes demands that the migrants be rehabilitated in
their own homeland with dignity and honour.
According to official statistics, nearly 80,000 Hindu families have been
forced to flee from the Kashmir region during the last three years by Moslem
militants of the area. Most of them have either settled down in either
Hindu-dominated Jammu region of the northern state or in New Delhi.
Rao told the special committee, which consists of political parties of all
hues and chief ministers of various states, that militancy in the two northern
states were ''totally a state-sponsored terrorism ...there is hardly any doubt
about it ... We are facing what might be called the proxy war'' being waged
and guided from across the border''.
Islamabad has repeatedly denied New Delhi's charges that it was abetting and
supporting terrorism in these two Indian states, where radicals are demanding
an independent state.
-30- 1985
QATARI POLL FINDS SAUDI ARABIAN KING FAHD MOST IMPORTANT ARAB FIGURE IN 1991
12/31/91
91365l0074  Deutsche Press-Agentur
DOHA (DEC. 31) DPA - King Fahd of Saudi Arabia was the most important Arab
figure in 1991 for his major role in the liberation of Kuwait from Iraqi
occupation, according to a public opinion poll released in Doha Tuesday.
The poll, conducted by the Qatari newspaper Al Sharq, said U.S. President
George Bush ranked the first among world leaders for his role in the promotion
of a new world order, the Kuwait crisis and the Arab-Israeli peace talks held
in Madrid in late October.
According to the poll which the paper said covered officials, intellectuals
and journalists in Cairo, Kuwait, Moscow, Rome and Paris, Butros Ghali was the
second most important Arab figure following his election as secretary general
of the United Nations.
Mubarak was the third most important Arab figure for the important role he
played during the Gulf crisis and at the Arab-Israeli peace negotiations, the
poll said.
-30- 1279
CROATIAN PRES. TUDJMAN VOWS TO REGAIN LOST TERRITORY AS SHELLING ESCALATES
12/31/91
91365l0071  Deutsche Press-Agentur
ZAGREB (DEC. 31) DPA - In the face of a increased shelling by federal
Yugoslav troops, Croatian President Franjo Tudjman declared Tuesday in Zagreb
that his forces would fight to regain lost territory with or without
international aid.
His remarks came as federal forces stepped up their artillery barrage on
cities and towns in eastern Croatia in a renew bid for control of the
strategic region bordering Serbia.
''If we cannot liberate these areas with the help of the United Nations, then
we'll do it through war,'' Tudjman declared, according to Tanjug news agency.
He said Croatia's military resources were more than adequate to do the job.
He vowed that Croatia would never surrender an inch of territory. He called
the artillery bombardments a desperate effort by an army which can no longer
launch any ''new, general offensive'' against what he called the superior
Croatian forces.
Yugoslav federal army forces opened artillery fire early Tuesday against the
town of Sagovina 140 kilometres southeast of the Croatian capital Zagreb,
Croatian radio reported.
The radio said Yugoslav forces had fired on Sunja, 70 kilometres southeast of
Zagreb, while the embattled city of Osijek was shelled overnight. Karlovac, 50
kilometres south of Zagreb was the target of surface-to-surface missiles in
recent days, Radio Zagreb said.
-30- 1621
ISRAEL "CAN TAKE NOTHING FOR FREE", EGYPT'S FOREIGN MINISTER SAYS
12/31/91
91365l0066  Deutsche Press-Agentur
CAIRO (DEC. 31) DPA - Egyptian Foreign Minister Amr Mussa said Tuesday that
Israel ''can take nothing for free'' and that it has to recognise the rights
of other Arab parties in return.
Addressing the Egyptian parliament, he said Israel has to return the
territories it captured from Arab countries after the 1967 war and recognise
the rights of the Palestinian people.
He expressed the hope that negotiations which started between the Arabs and
Israel in Washington December 10 would move to tackling more detailed issues
such as the exchange of land for peace.
''Israel does not have the right to take one inch of the Syrian Golan Heights
under any claims, but they both can reach understanding on security
arrangements,'' Mussa said.
He added, ''Israel started negotiations with an intrasigent position. This
could be a negotiating position or a true reflection of its policy.
''But there are limits for patience and we are closely watching the situation.
Yet we will not accept the instrasigent Israeli postion forever.''
Egypt had to be part of any new security arrangements in the Middle East ''as
it is the biggest country in the region, and if there is a necessity for the
rearrangement of the situation in the Middle East, we should have an opinion
in that''.
Mussa admitted ''tension'' in relations between Egypt and Iran as both had
interests in the Gulf. But Egypt was ready to listen to Iran ''on condition
that Iran will listen to Egypt, too, instead of confrontation''.
-30- 1843
FORMATION OF UNIFIED GULF ARMY NOT EASY, KUWAITI DEFENSE MINISTER SAYS
12/31/91
91365l0065  Deutsche Press-Agentur
KUWAIT CITY (DEC. 31) DPA - Kuwaiti Defence Minister Sheikh Ali Sabah
al-Salem al-Sabah was quoted Tuesday as saying that the formation of a joint
100,000-strong Gulf army would not be an easy matter.
''The formation of a unified Gulf army comprising 100,000 soldiers needs a
specific and serious study. It is not an easy matter,'' Sheikh Ali told the
Kuwaiti daily Sawt al Kuwait.
He was referring to an Omani proposal to establish a joint 100,000-man army by
the six states of the Gulf Cooperation Council (GCC) - Saudi Arabia, Kuwait,
Oman, Qatar, Bahrain and the United Arab Emirates - to defend themselves in
the post-Gulf war era.
The proposal, made by Omani leader Sultan Qabus bin Saed in his capacity as
chairman of the GCC supreme security committee, was discussed at the GCC
summit conference in Kuwait last week. However, the GCC heads of state praised
Sultan Qabus for his ''comprehensive strategic report'' on the proposed army
but did not endorse it.
GCC Secretary General Abdullah Yaqoub Bishara said the formation of the
proposed army will take time and needs a careful and thorough study.
Although they did not agree on a joint security system, the GCC leaders
pledged to consolidate security and military cooperation among their countries
and to bolster their defensive capabilities ''in the light of lessons learned
from the Iraqi aggression'' on Kuwait last year.
Sheikh Ali called for ''effective defence coordination'' among the GCC states
after the crisis through which Kuwait and the Gulf region had passed. ''The
security issue is at the top of concerns of the GCC leaders,'' he said.
Ali, whose country has signed a defence cooperation agreement with the United
States, said Kuwait is planning to sign a similar pact with Britain.
The defence minister said Kuwait is seeking to buy new weapons with high
technology that needs few people to operate.
-30- 2263
BRITISH PM MAJOR URGES YELTSIN TO APPLY FOR FULL RUSSIAN MEMBERSHIP IN IMF
12/31/91
91365l0058  Deutsche Press-Agentur
LONDON (DEC. 31) DPA - British Prime Minister John Major has urged President
Boris Yeltsin to apply for Russia's full membership of the International
Monetary Fund and World Bank, officials confirmed Tuesday.
In a letter to Yeltsin, Major said the way would then be open for Russia to
get financial support for its programme of economic reforms.
He also urged Yeltsin to invite an IMF team to Russia to discuss details of an
aid programme to help Russia over initial hardships.
Major added that he was sure the other members of the Commonwealth of
Independent States would want to become full IMF and World Bank members.
Major's letter marked the end of his term as chairman of G-7, the group of
leading western industrial states which comprises Britain, the United States,
Canada, Germany, Italy, France and Japan.
-30- 1230
INDIAN PRESIDENT VENKATARAMAN EXPRESSES CONCERN OVER MOTHER TERESA'S HEALTH
12/31/91
91365l0051  Deutsche Press-Agentur
NEW DELHI (DEC. 31) DPA - Indian President Ramaswamy Venkataraman Tuesday
expressed concern over reports that Mother Teresa has been listed in a serious
condition in a hospital in California.
The President in a message to Indian Ambassador to the United States, Abid
Hussain, said he and his wife, Janaki, were concerned over the condition of
the 81-year-old Roman Catholic nun, who won the Nobel Peace prize for caring
for the poor of Calcutta in 1979.
According to reports, Mother Teresa was in a serious condition at Scripps
Clinic and Rsesearch Foundation in La Jolla, California. She was hospitalised
last Thursday with pneumonia and later underwent a procedure to unclog
coronary arteries after suffering what was termed ''a brief episode of heart
failure''.
Mother Teresa became ill in Tijuana, Mexico, while on the last leg of a
worldwide tour of facilities afflited with her order, Missionaries of Charity.
The frail nun is known world-wide as the ''Saint of the Gutters''. In 1965,
Pope Paul VI recognised her order as a Society of Pontifical Right, enabling
it to operate all over the globe. The order grew rapidly, sending about 3,000
nuns to 87 countries.
-30- 1454
GOVERNOR OF HONG KONG SIR DAVID WILSON HINTS THAT HE WAS FORCED TO RESIGN
12/31/91
91365l0050  Deutsche Press-Agentur
HONG KONG (DEC. 31) DPA - Sir David Wilson, the Governor of Hong Kong, hinted
Tuesday that he was being compelled to resign. Earlier in the day the British
government announced that he would retire during the coming year and be given
a peerage.
Interviewed Tuesday on local television stations, Wilson said the decision for
him to go ''is a decision by the Prime Minister, rather than a decision by
me''.
However he believed that it made ''a lot of sense'' to chose a replacement now
if he were not to continue in office until 1997 when China resumes control
over the colony.
Wilson, a Chinese scholar and former diplomat, will have completed five years
in office in April. Although there has been no public criticism of him, it is
understood his political skills have been questioned and that the search is on
for a senior politician to be the colony's last governor.
Intense speculation over the next governor centres on former British foreign
secretaries Sir Geoffrey Howe and David Owen, and current cabinet members
Peter Brook and Tom King.
The appointment will not be made until after next year's general election. A
victory for the Labour Party would almost certainly produce a different list
of candidates.
-30- 1609
MOROCCO ANNOUNCES DIPLOMATIC RECOGNITION FOR CONFED. OF INDEPENDENT STATES
12/31/91
91365l0048  Deutsche Press-Agentur
RABAT (DEC. 31) DPA - Morocco Tuesday announced diplomatic recognition of the
Confederation of Independent States.
A Foreign Ministry communique also said Morocco agreed to Russia taking over
all former Soviet functions at the United Nations.
-30- 532
MALAYSIA RECOGNIZES COMMONWEALTH OF INDEPENDENT STATES
12/31/91
91365k0055  Japanese News Agency
KUALA LUMPUR (DEC. 31) KYODO - MALAYSIA ANNOUNCED TUESDAY ITS FORMAL
RECOGNITION OF THE NEWLY FOUNDED COMMONWEALTH OF INDEPENDENT STATES (CIS)
COMPRISING 11 OF THE DEFUNCT SOVIET UNION'S 12 REPUBLICS.
''MALAYSIA WARMLY WELCOMES THESE 11 FORMER SOVIET REPUBLICS INTO THE COMITY OF
NATIONS AS FREE AND INDEPENDENT STATES,'' SAID A FOREIGN MINISTRY STATEMENT
CARRIED BY THE NATIONAL NEWS AGENCY BERNAMA.
MALAYSIA'S AMBASSADOR IN MOSCOW WILL BE ACCREDITED TO THE RUSSIAN FEDERATION
AND CONCURRENTLY TO THE 10 OTHER REPUBLICS, THE STATEMENT SAID.
BERNAMA ALSO REPORTED THAT MALAYSIA HAS NO PLANS TO ESTABLISH DIPLOMATIC TIES
WITH SOUTH AFRICA ALTHOUGH THE GOVERNMENT IN PRETORIA HAS INITIATED REFORMS TO
DISMANTLE THE SYSTEM OF RACIAL SEGREGATION KNOWN AS APARTHEID.
A SENIOR FOREIGN MINISTRY OFFICIAL TOLD A SENATE SESSION SOUTH AFRICA STILL
HAS SEVERAL ASPECTS OF APARTHEID, INCLUDING THE LACK OF REPRESENTATION OF ITS
BLACK PEOPLE IN THE COUNTRY'S ADMINISTRATION, ACCORDING TO BERNAMA.
-30- 1290
FOREIGN-PRODUCED RICE MAY BEGIN POURING INTO JAPAN, ECONOMIST SAYS
12/31/91
91365k0032  Japanese News Agency
TOKYO (DEC. 31) KYODO - THE SPECTER OF A FREER RICE MARKET AND AN INRUSH OF
FOREIGN PRODUCE HAS BEEN HAUNTING JAPANESE FARMERS EVER SINCE THE RICE ISSUE
FIRST BECAME A SYMBOL OF JAPAN'S IMPENETRABILITY TO FOREIGN COMPETITORS.
AS HAS BEEN THE CASE WITH BEEF AND CHERRIES, HOWEVER, THE FARMERS' NIGHTMARE
VISIONS WILL PROBABLY PROVE TO BE NO MORE THAN ILLUSORY, SINCE LETTING FOREIGN
RICE INTO THE COUNTRY IS UNLIKELY BY ITSELF TO LEAD TO THE LOSS OF THEIR
LIVELIHOOD.
AND EVEN IF JAPAN CAN CONTINUE TO RESIST THE HEAVY PRESSURE TO OPEN ITS RICE
MARKET AT THE URUGUAY ROUND OF GLOBAL TRADE TALKS, IT WILL BE FORCED TO DO SO
ANYWAY AS THE COUNTRY'S RICE OUTPUT DECLINES WITH THE DWINDLING -- AND GREYING
-- POPULATION OF THE RURAL SECTOR.
''I THINK THE ADVANTAGES WILL OUTWEIGH THE DISADVANTAGES IF THE RICE MARKET IS
LIBERALIZED,'' SAID YOJI MACHIDA, CHIEF ECONOMIST AT THE LTCB INSTITUTE OF
RESEARCH, A RESEARCH ARM OF THE LONG-TERM CREDIT BANK OF JAPAN.
MACHIDA SAID INHIBITINGLY HIGH TARIFFS ON RICE -- PERHAPS 700-800 PERCENT FOR
THE INITIAL YEARS -- EXPECTED TO BE IMPOSED AFTER LIBERALIZATION WILL KEEP
CONSUMERS FROM BUYING FOREIGN RICE.
IN ADDITION, HE SAID, JAPANESE CONSUMERS ARE SO CHOOSY ABOUT WHAT THEY EAT
THAT FOREIGN RICE, PERCEIVED TO BE INFERIOR IN TASTE, CANNOT EASILY BEAT
JAPAN'S HIGH-QUALITY RICE.
''REMEMBER WHAT HAS HAPPENED SINCE WE OPENED THE BEEF AND CHERRY MARKETS,'' HE
SAID, REFERRING TO EARLIER CASES IN WHICH JAPAN WAS PRESSURED TO OPEN MARKETS
BUT HAS SUFFERED LITTLE DAMAGE.
YOSHIKAZU KANO, PRESIDENT OF THE RESEARCH INSTITUTE ON THE NATIONAL ECONOMY,
CONCURRED THAT RICE MARKET LIBERALIZATION WILL HAVE ONLY A ''NEGLIGIBLE''
IMPACT ON DOMESTIC GROWERS. ;;MORE
-30- 2102
CHINA AGREES TO SCRAP TARIFFS ON SOUTH KOREAN EXPORTS, FOREIGN MINISTRY SAYS
12/31/91
91365k0031  Japanese News Agency
SEOUL (DEC. 31) KYODO - CHINA AGREED TUESDAY TO DISMANTLE DISCRIMINATORY
TARIFF BARRIERS TO EXPORTS FROM SOUTH KOREA, THE SOUTH KOREAN FOREIGN MINISTRY
SAID.
THE ACCORD WAS STRUCK IN BEIJING BETWEEN CHINESE AND SOUTH KOREAN DELEGATIONS,
THE MINISTRY SAID.  DOCUMENTS FORMALIZING THE ACCORD WILL BE EXCHANGED IN
JANUARY BETWEEN AUTHORITIES OF THE TWO COUNTRIES.
THE DEAL WILL OBLIGATE CHINA TO DROP TARIFFS RANGING FROM 5 TO 30 PERCENT THAT
HAD BEEN APPLIED TO SOUTH KOREAN EXPORTS, THE MINISTRY SAID.
IT ESTIMATED THE DEAL WILL TRANSLATE INTO AN INCREASE OF 15 TO 30 PERCENT IN
SOUTH KOREAN EXPORTS TO CHINA FROM PRESENT LEVELS.
IN A BID TO BOLSTER BILATERAL ECONOMIC RELATIONS, NEGOTIATIONS ARE UNDERWAY TO
STRIKE SOME OTHER ECONOMIC DEALS SUCH AS EXPEDITING CIVIL AVIATION FLIGHTS,
EXTENDING PROTECTION AGAINST RISKS TO SOUTH KOREAN INVESTMENT, AND ENDING
DOUBLE TAXATION ON PROFITS FROM INVESTMENT, IT ADDED.
-30- 1217
TOKYO INTERBANK DOLLAR QUOTATIONS - TUESDAY
12/31/91
91365k0025  Japanese News Agency
TOKYO (DEC. 31) KYODO - INTERBANK YEN-DOLLAR SPOT RATES, SPOT-FORWARDS, AND
OPTION VOLATILITY AT THE CLOSE TO TRADING ON THE TOKYO FOREIGN EXCHANGE MARKET
TUESDAY.
     SPOT QUOTATIONS
     TODAY    PREVIOUS SESSION
CLOSING 125.25 YEN DN 0.58 YEN
HIGH    125.40 YEN DN 0.25 YEN
LOW     125.10 YEN DN 0.45 YEN
CENTRAL 125.20 YEN DN 1.15 YEN
VOLUME       4,240 MILLION DOLLARS.
SWAP VOLUME 11,098 MILLION DOLLARS.
     SPOT-FORWARD SPREADS
     TODAY
PREVIOUS SESSION
1 MONTH  P 0.145 YEN P 0.158 YEN
        P 1.36 PC P.A.
3 MONTHS P 0.42  YEN P 0.445 YEN
        P 1.34 PC P.A.
     OPTION VOLATILITY
1 MONTH     9.5 PC UP 0.1 PC POINT
3 MONTHS    9.5 PC UP 0.1 PC POINT
-30- 1033
FUJI BANK, SUMITOMO BANK ANNOUNCE SHORT-TERM PRIME RATE CUT TO 6.12 PERCENT
12/31/91
91365k0023  Japanese News Agency
TOKYO (DEC. 31) KYODO - FUJI BANK AND SUMITOMO BANK SAID TUESDAY THE TWO
MAJOR COMMERCIAL BANKS WILL LOWER THE SHORT-TERM PRIME LENDING RATE BY HALF A
PECENTAGE POINT TO 6.125 PERCENT PER ANNUM.
THE RATE CUTS BY FUJI AND SUMITOMO TAKE EFFECT JANUARY 8 AND JANUARY 6,
RESPECTIVELY.
THE CUT BY FUJI IS ITS FIRST REDUCTION OF THE RATE CHARGED ON LOANS OF LESS
THAN ONE YEAR TO ITS MOST CREDITWORTHY CUSTOMERS SINCE A 0.375 POINT CUT
NOVEMBER 22.
OTHER COMMERCIAL BANKS ARE EXPECTED TO FOLLOW SUIT EARLY NEXT YEAR. THE LATEST
CUT IS IN RESPONSE TO LOWER FUND-RAISING COSTS DUE TO FALLING MONEY MARKET
RATES AFTER THE BANK OF JAPAN CUT THE DISCOUNT RATE BY 0.5 POINT TO 4.5
PERCENT PER ANNUM ON MONDAY, FUJI BANK OFFICIALS SAID.
THE RATE ON NEWLY ISSUED THREE-MONTH CERTIFICATES OF DEPOSIT (CDS), THE
BENCHMARK FOR THE SHORT-TERM PRIME RATE, PLUNGED FROM THE 6.2 PERCENT LEVEL
EARLY IN NOVEMBER TO THE 5.6 PERCENT LEVEL ON MONDAY.
THE SHORT-TERM PRIME RATE REDUCTION IS EXPECTED TO HELP RESTORE CORPORATE
CONFIDENCE IN CAPITAL SPENDING, THUS UNDERPINNING THE FLAGGING ECONOMY,
FINANCIAL SOURCES SAID. ;;MORE
-30- 1452
BYELORUSSIAN LEADER SAYS COMMONWEALTH SUMMIT WAS FULL OF DISAGREEMENT
12/31/91
91365h0144  Chinese News Agency
MOSCOW (DEC. 31) XINHUA - BYELORUSSIAN LEADER STANISLAV SHUSHKEVICH SAID
TODAY THAT THE COMMONWEALTH MEETING IN MINSK WAS THE SUBJECT OF HEATED
DIFFERENCES ON VIRTUALLY EVERY ISSUE.
SHUSHKEVICH WAS SPEAKING AT A NEWS CONFERENCE IN MINSK TODAY. HE SAID THE
MINSK SUMMIT HAD REACHED NO DECISIONS ON ESTABLISHING NECESSARY COMMITTEES OR
ORGANS IN CERTAIN FIELDS.
THE NEXT SUMMIT, TO BE HELD IN ONE OR TWO MONTHS, WOULD CONTINUE DISCUSSIONS
ON THE MILITARY, BORDER DEFENCE AND OTHER ISSUES WHICH AROSE DURING MONDAY'S
GATHERING, HE SAID. SOME NEW PROBLEMS WOULD ALSO BE DISCUSSED NEXT TIME, HE
ADDED.
-30- 924
BRAZILIAN ECONOMY MINISTER HIGHLIGHTS MAJOR ACHIEVEMENTS, REPORT SAYS
12/31/91
91365h0088  Chinese News Agency
RIO DE JANEIRO (DECEMBER 31) XINHUA - PROGRESS IN FOREIGN DEBT NEGOTIATIONS,
ELIMINATION OF PRICE CONTROLS AND THE BEGINNING OF THE PRIVATIZATION PROCESS
MAKE UP BRAZIL'S MAJOR ECONOMIC ACCOMPLISHMENTS IN 1991, ACCORDING TO A PRESS
REPORT HERE TODAY.
THE REPORT QUOTED ECONOMY MINISTER MARCILIO MARQUES MOREIRA AS ANNOUNCING IN
RIO DE JANEIRO MONDAY THAT AS A RESULT OF THE FOREIGN DEBT NEGOTIATIONS, AN
AGREEMENT WITH THE INTERNATIONAL MONETARY FUND ON FOREIGN DEBT REPAYMENT CAN
BE EXPECTED TOWARDS THE END OF JANUARY, 1992.
NEGOTIATIONS WITH THE PARIS CLUB AND OTHER BANK CREDITORS WILL ALSO BE ON THE
RIGHT TRACK AT THE END OF MARCH, HE ADDED.
MARQUES MOREIRA STATED THAT THE COUNTRY'S INTERNATIONAL RESERVES HAVE REACHED
8 BILLION U.S. DOLLARS AS A RESULT OF THE TRADE AND FINANCIAL SURPLUS.
AT THE MOMENT, ONLY THE PRICES OF SOME MEDICINES AND CIGARETTES, AS WELL AS
THOSE OF ELECTRICITY AND FUEL, ARE UNDER GOVERNMENT CONTROL, HE SAID, ADDING
THAT PRICE READJUSTMENTS WILL BE CARRIED OUT GRADUALLY AS OF 1992.
THE ECONOMY MINISTER STRESSED THAT 1992 WILL BE 'A TURNING-POINT YEAR' FOR
BRAZIL'S ECONOMY.
-30- 1444
CHANCELLOR HELMUT KOHL PROMISES MORE AID TO REST OF WORLD
12/31/91
91365h0084  Chinese News Agency
BONN (DECEMBER 31) XINHUA - GERMAN CHANCELLOR HELMUT KOHL SAID HERE TODAY A
REUNIFIED GERMANY SHOULD SHOULDER MORE DUTIES IN THE WORLD.
IN A TELEVISED NEW YEAR'S MESSAGE, THE GERMAN CHANCELLOR SAID THAT TO SHOULDER
MORE DUTIES MEANS THAT GERMANY MUST PROVIDE MORE AID TO OTHER COUNTRIES.
KOHL SAID THAT BOTH PARTS OF THE UNIFIED GERMANY EQUALLY NEED TO BE DEVELOPED.
THOUGH IT IS A WAY FULL OF HARDSHIP, 'BUT WE SHALL JOIN HANDS TO OVERCOME IT,'
HE ADDED.
DURING HIS SPEECH, KOHL APPEALED TO THE CITIZENS IN THE WESTERN PART OF
GERMANY TO SHARE THE WOES OF THOSE IN THE EAST. HE STRESSED THAT DEVELOPMENT
FOR ALL IN THE COUNTRY NEEDS TIME AND ENOUGH MUTUAL PATIENCE.
KOHL AT ONE POINT OF HIS SPEECH EXPRESSED APPRECIATION OF THE DILIGENCE OF THE
SEVERAL MILLION IMMIGRANTS IN GERMANY AND THEIR CONTRIBUTIONS TO THE
DEVELOPMENT OF THE GERMAN ECONOMY.
THE CHANCELLOR SAID THAT GERMANY IS A COUNTRY AMICABLE TO FOREIGNERS, ANY
EXCLUSIVE ACTIVITY WILL BE A SHAME ON GERMANY.
-30- 1262
U.S. FACILITIES : K.C. TYLER, DIR., BUYS 1,000 SHARES
12/31/91
91365c0206  Comtex
FORM 4
SEC - ON DEC 18, 1991, KENNETH CLARE TYLER, DIR. OF U.S. FACILITIES CORP.
(TICKER: USRE), BOUGHT 1,000 SHARES AT $12.50 PER SHARE, BRINGING INDIRECT
HOLDINGS TO 2,000.
-30- 391
USMX : J.A. KNOX, PRES., BUYS 5,000 SHARES
12/31/91
91365c0205  Comtex
FORM 4
SEC - ON DEC 18, 1991, JAMES A KNOX, PRES. OF USMX INC. (TICKER: USMX), BOUGHT
5,000 SHARES AT $1.38 PER SHARE, BRINGING DIRECT HOLDINGS TO 56,232.
-30- 346
UNIVERSAL SECURITY INSTRUMENTS : M. KOVENS, OFFICER, DIR. AND BEN. OWNER, BUYS10,250 SHARES
12/31/91
91365c0204  Comtex
FORM 4
SEC - FROM DEC 19, 1991 TO DEC 23, 1991, MICHAEL KOVENS, OFFICER, DIR. AND BEN.
OWNER OF UNIVERSAL SECURITY INSTRUMENTS INC. (TICKER: USEC), BOUGHT 10,250
SHARES FROM $1.68 TO $1.70 PER SHARE, BRINGING DIRECT HOLDINGS TO 531,634.
-30- 510
SPX : D.A. JOHNSON, CHAIRMAN, BUYS 1,000 SHARES
12/31/91
91365c0203  Comtex
FORM 4
SEC - ON DEC 05, 1991, DALE A JOHNSON, CHAIRMAN OF SPX CORP. (TICKER: SPW),
BOUGHT 1,000 SHARES AT $11.00 PER SHARE, BRINGING DIRECT HOLDINGS TO 31,344.
-30- 357
PLASTI-LINE : K.V. GRAHAM, DIR., BUYS 1,000 SHARES
12/31/91
91365c0202  Comtex
FORM 4
SEC - ON DEC 06, 1991, KENT V GRAHAM, DIR. OF PLASTI-LINE INC. (TICKER: SIGN),
BOUGHT 1,000 SHARES AT $5.25 PER SHARE, BRINGING DIRECT HOLDINGS TO 25,500.
-30- 368
SHERWOOD GROUP : R.J. MARINO, OFFICER AND DIR., BUYS 50,000 SHARES
12/31/91
91365c0201  Comtex
FORM 4
SEC - FROM NOV 11, 1991 TO NOV 27, 1991, RICHARD J MARINO, OFFICER AND DIR. OF
SHERWOOD GROUP INC. (TICKER: SHD), BOUGHT 50,000 SHARES FROM $1.63 TO $1.75 PER
SHARE, BRINGING DIRECT HOLDINGS TO 694,000.
-30- 439
PRIME BANCORP : E.T. STRAW, PRES., BUYS 400 SHARES
12/31/91
91365c0200  Comtex
FORM 4
SEC - ON AUG 21, 1990, ERWIN T STRAW, PRES. OF PRIME BANCORP INC. (TICKER:
PSAB), BOUGHT 400 SHARES AT $11.38 PER SHARE, BRINGING DIRECT HOLDINGS TO
33,995.
-30- 375
GLOBAL YIELD FUND : M.J. DOWNEY, DIR., BUYS 2,000 SHARES
12/31/91
91365c0199  Comtex
FORM 4
SEC - ON NOV 22, 1991, MICHAEL J DOWNEY, DIR. OF GLOBAL YIELD FUND INC.
(TICKER: PGY), BOUGHT 2,000 SHARES AT $7.75 PER SHARE, BRINGING INDIRECT
HOLDINGS TO 3,000.
-30- 395
MOSINEE PAPER : S.R. CARLSON, OFFICER, BUYS 150 SHARES
12/31/91
91365c0198  Comtex
FORM 4
SEC - ON DEC 17, 1991, STUART R CARLSON, OFFICER OF MOSINEE PAPER CORP.
(TICKER: MOSI), BOUGHT 150 SHARES AT $29.00 PER SHARE, BRINGING INDIRECT
HOLDINGS TO 150.
-30- 386
MEDIMMUNE : E.O. DICATALDO, VP, SELLS 500 SHARES
12/31/91
91365c0197  Comtex
FORM 4
SEC - ON OCT 28, 1991, EMILIO O DICATALDO, VP OF MEDIMMUNE INC. (TICKER: MEDI),
SOLD 500 SHARES AT $44.25 PER SHARE.
-30- 325
MEDIMMUNE : E.O. DICATALDO, VP, BUYS 500 SHARES
12/31/91
91365c0196  Comtex
FORM 4
SEC - ON OCT 21, 1991, EMILIO O DICATALDO, VP OF MEDIMMUNE INC. (TICKER: MEDI),
BOUGHT 500 SHARES AT $34.25 PER SHARE.
-30- 326
MECA SOFTWARE : A.C. SPINNER, SHAREHOLDER, BUYS 2,000 SHARES
12/31/91
91365c0195  Comtex
FORM 4
SEC - ON MAY 23, 1991, ARTHUR C SPINNER, SHAREHOLDER OF MECA SOFTWARE INC.
(TICKER: MECA), BOUGHT 2,000 SHARES AT $3.75 PER SHARE, BRINGING DIRECT
HOLDINGS TO 2,000.
-30- 395
LA TEKO RESOURCES : R.C. TAYLOR, AFFILIATED PERSON, BUYS 667,176 SHARES
12/31/91
91365c0194  Comtex
FORM 4
SEC - ON DEC 11, 1991, RUSSELL C TAYLOR, AFFILIATED PERSON OF LA TEKO RESOURCES
LTD. (TICKER: LAOR), BOUGHT 667,176 SHARES AT $0.60 PER SHARE, BRINGING
INDIRECT HOLDINGS TO 6,593,234.
-30- 427
LA TEKO RESOURCES : J. LAYNE, OFFICER AND DIR., BUYS 667,176 SHARES
12/31/91
91365c0193  Comtex
FORM 4
SEC - ON DEC 11, 1991, JACK LAYNE, OFFICER AND DIR. OF LA TEKO RESOURCES LTD.
(TICKER: LAOR), BOUGHT 667,176 SHARES AT $0.60 PER SHARE, BRINGING INDIRECT
HOLDINGS TO 6,593,234.
-30- 417
LA TEKO RESOURCES : C.D. CASH, AFFILIATED PERSON, BUYS 667,176 SHARES
12/31/91
91365c0192  Comtex
FORM 4
SEC - ON DEC 11, 1991, CHOICE D CASH, AFFILIATED PERSON OF LA TEKO RESOURCES
LTD. (TICKER: LAOR), BOUGHT 667,176 SHARES AT $0.60 PER SHARE, BRINGING
INDIRECT HOLDINGS TO 6,593,234.
-30- 423
LA TEKO RESOURCES : M.R. BALLARD, BEN. OWNER, BUYS 667,176 SHARES
12/31/91
91365c0191  Comtex
FORM 4
SEC - ON DEC 11, 1991, M RUSSELL BALLARD, BEN. OWNER OF LA TEKO RESOURCES LTD.
(TICKER: LAOR), BOUGHT 667,176 SHARES AT $0.60 PER SHARE, BRINGING INDIRECT
HOLDINGS TO 6,593,234.
-30- 416
LAKELAND : C.J. RYAN, OFFICER AND DIR., BUYS 4,000 SHARES
12/31/91
91365c0190  Comtex
FORM 4
SEC - ON DEC 18, 1991, CHRISTOPHER J RYAN, OFFICER AND DIR. OF LAKELAND
INDUSTRIES INC. (TICKER: LAKE), BOUGHT 4,000 SHARES AT $1.00 PER SHARE,
BRINGING INDIRECT HOLDINGS TO 132,722.
-30- 408
KEY TRONIC : B.W. LADYMAN, OFFICER, BUYS 2,000 SHARES
12/31/91
91365c0189  Comtex
FORM 4
SEC - ON DEC 04, 1991, BRIAN W LADYMAN, OFFICER OF KEY TRONIC CORP. (TICKER:
KTCC), BOUGHT 2,000 SHARES AT $2.00 PER SHARE, BRINGING DIRECT HOLDINGS TO
2,000.
-30- 379
INMAC : S. EDMUND, VP, BUYS 1,000 SHARES
12/31/91
91365c0188  Comtex
FORM 4
SEC - ON DEC 02, 1991, SCHOOLER EDMUND, VP OF INMAC CORP. (TICKER: INMC),
BOUGHT 1,000 SHARES AT $3.38 PER SHARE, BRINGING DIRECT HOLDINGS TO 1,000.
-30- 347
IMPERIAL BANCORP.: ARTHUR E LUSSIER, OFFICER, BUYS 5,000 SHARES
12/31/91
91365c0187  Comtex
FORM 4
SEC - ON OCT 18, 1991, ARTHUR E LUSSIER, OFFICER OF IMPERIAL BANCORP. (TICKER:
IBAN), BOUGHT 5,000 SHARES AT $9.00 PER SHARE, BRINGING DIRECT HOLDINGS TO
59,846.
-30- 392
HAWTHORNE FINANCIAL : C.S. JACOBS, DIR., BUYS 419 SHARES
12/31/91
91365c0186  Comtex
FORM 4
SEC - ON DEC 09, 1991, CHARLES S JACOBS, DIR. OF HAWTHORNE FINANCIAL CORP.
(TICKER: HTHR), BOUGHT 419 SHARES AT $13.50 PER SHARE, BRINGING DIRECT HOLDINGS
TO 6,000.
-30- 396
HAWTHORNE FINANCIAL : H.J. HILL, DIR., BUYS 1,096 SHARES
12/31/91
91365c0185  Comtex
FORM 4
SEC - ON DEC 05, 1991, HILMA J HILL, DIR. OF HAWTHORNE FINANCIAL CORP. (TICKER:
HTHR), BOUGHT 1,096 SHARES AT $13.50 PER SHARE, BRINGING DIRECT HOLDINGS TO
50,000.
-30- 395
FIRST NAT'L (CA): D.J. PRIMUTH, DIR., SELLS 9,400 SHARES
12/31/91
91365c0184  Comtex
FORM 4
SEC - FROM NOV 26, 1991 TO NOV 27, 1991, DAVID J PRIMUTH, DIR. OF FIRST
NATIONAL CORP. (CA) (TICKER: FN), SOLD 9,400 SHARES AT $6.00 PER SHARE,
BRINGING DIRECT HOLDINGS TO 62,217.
-30- 413
FEDERAL PAPER BOARD : W.R. CLERIHUE, DIR., BUYS 2,300 SHARES
12/31/91
91365c0183  Comtex
FORM 4
SEC - ON DEC 12, 1991, W RANDOLPH CLERIHUE, DIR. OF FEDERAL PAPER BOARD INC.
(TICKER: FBO), BOUGHT 2,300 SHARES AT $24.00 PER SHARE, BRINGING INDIRECT
HOLDINGS TO 17,500.
-30- 410
EUROPE FUND : A. BRYAN, DIR., BUYS 700 SHARES
12/31/91
91365c0182  Comtex
FORM 4
SEC - ON NOV 13, 1991, ARTHUR BRYAN, DIR. OF EUROPE FUND INC. (TICKER: EF),
BOUGHT 700 SHARES AT $12.13 PER SHARE, BRINGING DIRECT HOLDINGS TO 700.
-30- 356
ELECTRONIC ASSOCIATES : E.G. CORSON, DIR., BUYS 1,000 SHARES
12/31/91
91365c0181  Comtex
FORM 4
SEC - ON NOV 18, 1991, ELLIS G CORSON JR, DIR. OF ELECTRONIC ASSOCIATES INC.
(TICKER: EA), BOUGHT 1,000 SHARES AT $2.00 PER SHARE, BRINGING DIRECT HOLDINGS
TO 2,000.
-30- 403
DUFF & PHELPS UTILITIES TAX-FREE M : EVERETT L MORRIS, DIR., BUYS 1,000 SHARES
12/31/91
91365c0180  Comtex
FORM 4
SEC - ON NOV 23, 1991, EVERETT L MORRIS, DIR. OF DUFF & PHELPS UTILITIES
TAX-FREE INCM INC. (TICKER: DTF), BOUGHT 1,000 SHARES AT $14.88 PER SHARE,
BRINGING DIRECT HOLDINGS TO 1,000.
-30- 454
CONSTAR INT'L : F.M. PEYSER, DIR., BUYS 2,000 SHARES
12/31/91
91365c0179  Comtex
FORM 4
SEC - FROM DEC 04, 1991 TO DEC 05, 1991, FREDERICK M PEYSER JR, DIR. OF CONSTAR
INTERNATIONAL INC. (TICKER: CTR), BOUGHT 2,000 SHARES FROM $33.00 TO $33.63 PER
SHARE, BRINGING INDIRECT HOLDINGS TO 9,300.
-30- 423
CLEAN HARBORS : E.T. SHEEHAN, VP, BUYS 2,000 SHARES
12/31/91
91365c0178  Comtex
FORM 4
SEC - ON DEC 16, 1991, EDWARD T SHEEHAN, VP OF CLEAN HARBORS INC. (TICKER:
CLHB), BOUGHT 2,000 SHARES AT $9.50 PER SHARE, BRINGING INDIRECT HOLDINGS TO
2,000.
-30- 379
CLEAN HARBORS : C.D. KEATON, PRES., BUYS 10,000 SHARES
12/31/91
91365c0177  Comtex
FORM 4
SEC - ON DEC 16, 1991, CLYDE D KEATON, PRES. OF CLEAN HARBORS INC. (TICKER:
CLHB), BOUGHT 10,000 SHARES AT $9.50 PER SHARE, BRINGING DIRECT HOLDINGS TO
10,000.
-30- 383
CLEAN HARBORS : J.S. INGALLS, VP, BUYS 1,500 SHARES
12/31/91
91365c0176  Comtex
FORM 4
SEC - ON DEC 18, 1991, JOHN S INGALLS, VP OF CLEAN HARBORS INC. (TICKER: CLHB),
BOUGHT 1,500 SHARES AT $10.25 PER SHARE, BRINGING DIRECT HOLDINGS TO 1,500.
-30- 371
CHIPCOM : Y.L. LINDE, CHAIRMAN, SELLS 50,000 SHARES
12/31/91
91365c0175  Comtex
FORM 4
SEC - ON MAY 10, 1991, YOSEPH L LINDE, CHAIRMAN OF CHIPCOM CORP. (TICKER:
CHPM), SOLD 50,000 SHARES AT $11.16 PER SHARE, BRINGING DIRECT HOLDINGS TO
325,000.
-30- 373
CHARTER POWER SYSTEMS : J.D. PRINCEVALLI, OFFICER, SELLS 8,600 SHARES
12/31/91
91365c0174  Comtex
FORM 4
SEC - FROM SEP 20, 1989 TO APR 15, 1991, JOHN D PRINCEVALLI, OFFICER OF CHARTER
POWER SYSTEMS INC. (TICKER: CHP), SOLD 8,600 SHARES FROM $6.50 TO $10.38 PER
SHARE, BRINGING DIRECT HOLDINGS TO 5,000.
-30- 441
COLONIAL COMMERCIAL : C.L. SUSSMAN, DIR., SELLS 100 SHARES
12/31/91
91365c0173  Comtex
FORM 4
SEC - ON DEC 13, 1991, CARL L SUSSMAN, DIR. OF COLONIAL COMMERCIAL CORP.
(TICKER: CCOM), SOLD 100 SHARES AT $0.41 PER SHARE, BRINGING DIRECT HOLDINGS TO
250,937.
-30- 395
COMMUNITY BANK SYSTEMS : J.M. BURGESS, DIR., BUYS 500 SHARES
12/31/91
91365c0172  Comtex
FORM 4
SEC - ON DEC 04, 1991, JOHN M BURGESS, DIR. OF COMMUNITY BANK SYSTEMS INC.
(TICKER: CBSI), BOUGHT 500 SHARES AT $13.25 PER SHARE, BRINGING DIRECT HOLDINGS
TO 2,960.
-30- 401
CACI INT'L : S.R. STRICKLAND, VP, BUYS 2,000 SHARES
12/31/91
91365c0171  Comtex
FORM 4
SEC - ON NOV 21, 1991, SAMUEL R STRICKLAND, VP OF CACI INTERNATIONAL INC.
(TICKER: CACI), BOUGHT 2,000 SHARES AT $3.44 PER SHARE, BRINGING DIRECT
HOLDINGS TO 4,000.
-30- 380
BUTLER MANUFACTURING : A.M. HALLENE, DIR., BUYS 1,000 SHARES
12/31/91
91365c0170  Comtex
FORM 4
SEC - ON DEC 13, 1991, ALAN M HALLENE, DIR. OF BUTLER MANUFACTURING CO.
(TICKER: BTLR), BOUGHT 1,000 SHARES AT $10.50 PER SHARE, BRINGING DIRECT
HOLDINGS TO 2,400.
-30- 399
BASE TEN SYSTEMS : R.J. FARRELLY, DIV. OFFICER, BUYS 1,000 SHARES
12/31/91
91365c0169  Comtex
FORM 4
SEC - ON DEC 06, 1991, RICHARD J FARRELLY, DIV. OFFICER OF BASE TEN SYSTEMS
INC. (TICKER: BASE), BOUGHT 1,000 SHARES AT $1.50 PER SHARE, BRINGING DIRECT
HOLDINGS TO 1,000.
-30- 409
ATHENA NEUROSCIENCES : L.F. MURPHY, DIR., BUYS 3,000 SHARES
12/31/91
91365c0168  Comtex
FORM 4
SEC - ON NOV 07, 1991, LISABETH F MURPHY, DIR. OF ATHENA NEUROSCIENCES INC.
(TICKER: ATHN), BOUGHT 3,000 SHARES AT $12.00 PER SHARE, BRINGING DIRECT
HOLDINGS TO 14,500.
-30- 404
ATHENA NEUROSCIENCES : M.A. MEGARO, OFFICER, BUYS 7,100 SHARES
12/31/91
91365c0167  Comtex
FORM 4
SEC - ON NOV 07, 1991, MATTHEW A MEGARO, OFFICER OF ATHENA NEUROSCIENCES INC.
(TICKER: ATHN), BOUGHT 7,100 SHARES AT $12.00 PER SHARE, BRINGING DIRECT
HOLDINGS TO 22,850.
-30- 409
ATHENA NEUROSCIENCES : M.D. COFFEE, OFFICER, BUYS 5,000 SHARES
12/31/91
91365c0166  Comtex
FORM 4
SEC - ON NOV 07, 1991, MICHAEL D COFFEE, OFFICER OF ATHENA NEUROSCIENCES INC.
(TICKER: ATHN), BOUGHT 5,000 SHARES AT $12.00 PER SHARE, BRINGING DIRECT
HOLDINGS TO 5,000.
-30- 408
ATLANFED BANCORP : R.L. FUNKE, CHAIRMAN, BUYS 1,200 SHARES
12/31/91
91365c0165  Comtex
FORM 4
SEC - ON DEC 13, 1991, RICHARD L FUNKE, CHAIRMAN OF ATLANFED BANCORP INC.
(TICKER: AFED), BOUGHT 1,200 SHARES AT $8.50 PER SHARE, BRINGING DIRECT
HOLDINGS TO 9,166.
-30- 394
CAPITAL INVESTMENTS: JAMES DODSON, DIR. AND BEN. OWNER, BUYS 1,842 SHARES
12/31/91
91365c0164  Comtex
FORM 4
SEC - FROM AUG 21, 1991 TO DEC 12, 1991, JAMES D DODSON, DIR. AND BEN. OWNER
OF CAPITAL INVESTMENTS INC. BOUGHT 1,842 SHARES FROM $6.00 TO $6.20 PER SHARE,
BRINGING DIRECT HOLDINGS TO 87,082.
-30- 439
SECOND NAT'L FINL : M.F. VIGNOLA, OFFICER, SELLS 610 SHARES
12/31/91
91365c0163  Comtex
FORM 4
SEC - ON DEC 23, 1991, MICHAEL F VIGNOLA, OFFICER OF SECOND NATIONAL FINL
CORP. SOLD 610 SHARES AT $16.00 PER SHARE, BRINGING INDIRECT HOLDINGS TO 3,574.
-30- 384
MIDLAND RESOURCE : D.H. WARLEY, PRES., BUYS 3,500 SHARES
12/31/91
91365c0162  Comtex
FORM 4
SEC - ON OCT 10, 1991, DEAS H WARLEY III, PRES. OF MIDLAND RESOURCE INC.
(TICKER: MRIX), BOUGHT 3,500 SHARES FROM $1.50 TO $1.63 PER SHARE, BRINGING
DIRECT HOLDINGS TO 309,790.
-30- 406
RHNB : J.M. BARNES, DIR., BUYS 3,625 SHARES
12/31/91
91365c0161  Comtex
FORM 4
SEC - FROM DEC 16, 1991 TO DEC 19, 1991, JOHN M BARNES, DIR. OF RHNB CORP.
BOUGHT 3,625 SHARES FROM $5.00 TO $6.00 PER SHARE, BRINGING DIRECT HOLDINGS TO
5,359.
-30- 364
TRI CITY BANKSHARES : D.A. ULRICH, CHAIRMAN, BUYS 1,000 SHARES
12/31/91
91365c0160  Comtex
FORM 4
SEC - ON DEC 13, 1991, DAVID A ULRICH, CHAIRMAN OF TRI CITY BANKSHARES CORP.
BOUGHT 1,000 SHARES AT $16.15 PER SHARE, BRINGING INDIRECT HOLDINGS TO 172,372.
-30- 385
HIGH POINT FINANCIAL : C.E. MCCRACKEN, DIR., BUYS 100 SHARES
12/31/91
91365c0159  Comtex
FORM 4
SEC - ON MAY 30, 1990, C EDWARD MCCRACKEN, DIR. OF HIGH POINT FINANCIAL CORP.
BOUGHT 100 SHARES AT $16.00 PER SHARE, BRINGING DIRECT HOLDINGS TO 9,880.
-30- 379
FIRST NAT'L FINL (MS): H.M. MAY, DIR., BUYS 100 SHARES
12/31/91
91365c0158  Comtex
FORM 4
SEC - ON DEC 11, 1991, HAROLD M MAY, DIR. OF FIRST NATIONAL FINL CORP. (MS)
BOUGHT 100 SHARES AT $21.00 PER SHARE, BRINGING DIRECT HOLDINGS TO 544.
-30- 373
DROVERS BANCSHARES : R.L. MYERS, DIR., BUYS 100 SHARES
12/31/91
91365c0157  Comtex
FORM 4
SEC - ON DEC 04, 1991, ROBERT L MYERS JR, DIR. OF DROVERS BANCSHARES CORP.
BOUGHT 100 SHARES AT AN UNREPORTED PRICE PER SHARE, BRINGING DIRECT HOLDINGS
TO 5,028.
-30- 394
MOORE (BENJAMIN) & CO.: J.C. MOORE, DIR., BUYS 200 SHARES
12/31/91
91365c0156  Comtex
FORM 4
SEC - ON DEC 16, 1991, JOHN C MOORE, DIR. OF MOORE (BENJAMIN) & CO. BOUGHT 200
SHARES AT $56.59 PER SHARE, BRINGING INDIRECT HOLDINGS TO 1,347,328.
-30- 363
MOORE (BENJAMIN) & CO.: J.C. MOORE, DIR., BUYS 1,040 SHARES
12/31/91
91365c0155  Comtex
FORM 4
SEC - ON DEC 16, 1991, JOHN C MOORE, DIR. OF MOORE (BENJAMIN) & CO. BOUGHT
1,040 SHARES AT $56.59 PER SHARE, BRINGING DIRECT HOLDINGS TO 18,340.
-30- 363
CENTENNIAL BANCORP: L.W. HANAVAN FILES TO SELL 6,117 SHARES
12/31/91
91365c0154  Comtex
FORM 144
SEC - L W HANAVAN JR OF P O BOX 5319, EUGENE, OR 97405, HAS FILED TO SELL
6,117 SHARES OF CENTENNIAL BANCORP (TICKER: CEBC) THROUGH ASSOC PLANNERS SECS.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CENTENNIAL BANCORP TEL: [phone])
-30- 483
TANKNOLOGY ENVIRONMENTAL : TECHFLITE INVESTMENTS FILES TO SELL 5,000 SHARES
12/31/91
91365c0153  Comtex
FORM 144
SEC - TECHFLITE INVESTMENTS LTD OF 5225 HOLLISTER STREET, HOUSTON, TX 77040,
HAS FILED TO SELL 5,000 SHARES OF TANKNOLOGY ENVIRONMENTAL INC. (TICKER: TANK)
THROUGH MORGAN STANLEY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(TANKNOLOGY ENVIRONMENTAL INC. TEL: [phone])
-30- 555
UNIVAR : R.S. ROGERS FILES TO SELL 7,767 SHARES
12/31/91
91365c0152  Comtex
FORM 144
SEC - ROBERT S ROGERS OF 12835 BEL RED RD #130, 0, BELLEVUE, WA 98005, HAS
FILED TO SELL 7,767 SHARES OF UNIVAR CORP. (TICKER: UVX) THROUGH KIDDER
PEABODY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(UNIVAR CORP. TEL: [phone])
-30- 467
INAMED : J.C. NOMETZ FILES TO SELL 10,000 SHARES
12/31/91
91365c0151  Comtex
FORM 144
SEC - JOSEPH C NOMETZ OF 5400 BALBOA BLVD, SUITE 111, ENCINO, CA 91316, HAS
FILED TO SELL 10,000 SHARES OF INAMED CORP. (TICKER: IMDC) THROUGH PAINE
WEBBER INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(INAMED CORP. TEL: [phone])
-30- 468
U.S. PAWN : L.V. HANSEN FILES TO SELL 60,000 SHARES
12/31/91
91365c0150  Comtex
FORM 144
SEC - LARRY V HANSEN OF 6922 QUAIL STREET, ARUADA, CO 80004, HAS FILED TO SELL
60,000 SHARES OF U.S. PAWN INC. (TICKER: USPN) THROUGH CHARLES SCHWAB & CO..
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(U.S. PAWN INC. TEL: [phone])
-30- 468
WORTHINGTON : D.H. MALENICK FILES TO SELL 5,000 SHARES
12/31/91
91365c0149  Comtex
FORM 144
SEC - DONAL H MALENICK OF 1205 DEARBORN DR, COLUMBUS, OH 43085, HAS FILED TO
SELL 5,000 SHARES OF WORTHINGTON INDUSTRIES INC. (TICKER: WTHG) THROUGH OHIO
COMPANY. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(WORTHINGTON INDUSTRIES INC. TEL: [phone])
-30- 498
COMMUNICATIONS SYSTEMS : J.O. ERICSON FILES TO SELL 6,843 SHARES
12/31/91
91365c0148  Comtex
FORM 144
SEC - JAMES O ERICSON OF 631 KNOLLWOOD DR, WILMAR, MN 56201, HAS FILED TO SELL
6,843 SHARES OF COMMUNICATIONS SYSTEMS INC. (TICKER: CSII) THROUGH PIPER
JAFFRAY HOPWOOD. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(COMMUNICATIONS SYSTEMS INC. TEL: [phone])
-30- 521
ENVIRONMENTAL SYSTEMS : ENTERTAINMENT & LEISURE FILES TO SELL 3,000 SHARES
12/31/91
91365c0147  Comtex
FORM 144
SEC - ENTERTAINMENT & LEISURE CORP OF 1320 EAST 2ND STREET, LITTLE ROCK, AR
72202, HAS FILED TO SELL 3,000 SHARES OF ENVIRONMENTAL SYSTEMS CO. (TICKER:
ESC) THROUGH MERRILL LYNCH. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(ENVIRONMENTAL SYSTEMS CO. TEL: [phone])
-30- 538
CHECKPOINT SYSTEMS : A.E. WOLF FILES TO SELL 4,000 SHARES
12/31/91
91365c0146  Comtex
FORM 144
SEC - ALBERT E WOLF OF 618 WEST HORTTER STREET, PHILADELPHIA, PA 19119, HAS
FILED TO SELL 4,000 SHARES OF CHECKPOINT SYSTEMS INC. (TICKER: CHEK) THROUGH
FUHRMAN MATT SECS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CHECKPOINT SYSTEMS INC. TEL: [phone])
-30- 509
SMITH'S FOOD & DRUG CTRS : O.D. WASHBURN FILES TO SELL 2,000 SHARES
12/31/91
91365c0145  Comtex
FORM 144
SEC - O DAVE WASHBURN OF 1803 EAST GRAS
Y OAK CIRCLE, SALT LAKE CITY, UT 84121
 HAS FILED TO SELL 2,000 SHARES OF SMITH'S FOOD & DRUG CTRS INC. (TICKER: SFD)
THROUGH ZIONS INVTMT SECS INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(SMITH'S FOOD & DRUG CTRS INC. TEL: [phone])
-30- 553
CAPITAL SOUTHWEST : J.M. NOLAN FILES TO SELL 2,500 SHARES
12/31/91
91365c0144  Comtex
FORM 144
SEC - JAMES M NOLAN OF 16475 DALLAS PKWY, SUITE #280, DALLAS, TX 75248, HAS
FILED TO SELL 2,500 SHARES OF CAPITAL SOUTHWEST CORP. (TICKER: CSWC) THROUGH
DONALDSON LUFKIN. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CAPITAL SOUTHWEST CORP. TEL: [phone])
-30- 508
TW HOLDINGS : R.D. SHIVELY FILES TO SELL 25,000 SHARES
12/31/91
91365c0143  Comtex
FORM 144
SEC - ROGER D SHIVELY OF 5321 VIA BERNARDO, YORBA LINDA, CA 92686, HAS FILED
TO SELL 25,000 SHARES OF TW HOLDINGS INC. (TICKER: TWFS) THROUGH MERRILL LYNCH.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(TW HOLDINGS INC. TEL: [phone])
-30- 477
TANKNOLOGY ENVIRONMENTAL : B. BIRDWELL FILES TO SELL 5,000 SHARES
12/31/91
91365c0142  Comtex
FORM 144
SEC - BILL BIRDWELL OF 5225 HOLLISTER STREET, HOUSTON, TX 77040, HAS FILED TO
SELL 5,000 SHARES OF TANKNOLOGY ENVIRONMENTAL INC. (TICKER: TANK) THROUGH
MORGAN STANLEY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 24, 1991.
(TANKNOLOGY ENVIRONMENTAL INC. TEL: [phone])
-30- 530
ORANGE-CO.: SAMELSON ASHLEY TRUST FILES TO SELL 7,742 SHARES
12/31/91
91365c0141  Comtex
FORM 144
SEC - SAMELSON ASHLEY TRUST OF 2020 HWY 17 SOUTH, P O BOX 2158, BARTOW, FL
33830, HAS FILED TO SELL 7,742 SHARES OF ORANGE-CO. (TICKER: OJ) THROUGH
RAYMOND JAMES & ASSOC. THE FILING WAS RECEIVED BY THE SEC ON DEC 24, 1991.
(ORANGE-CO. TEL: [phone])
-30- 489
ORANGE-CO.: SAMELSON LINDSEY M TRUST FILES TO SELL 7,742 SHARES
12/31/91
91365c0140  Comtex
FORM 144
SEC - SAMELSON LINDSEY M TRUST OF 2020 HWY 17 SOUTH, P O BOX 2158, BARTOW, FL
33830, HAS FILED TO SELL 7,742 SHARES OF ORANGE-CO. (TICKER: OJ) THROUGH
RAYMOND JAMES & ASSOC. THE FILING WAS RECEIVED BY THE SEC ON DEC 24, 1991.
(ORANGE-CO. TEL: [phone])
-30- 495
ORANGE-CO.: SAMELSON CHELSEA A TRUST FILES TO SELL 7,742 SHARES
12/31/91
91365c0139  Comtex
FORM 144
SEC - SAMELSON CHELSEA A TRUST OF 2020 HWY 17 SOUTH, P O BOX 2158, BARTOW, FL
33830, HAS FILED TO SELL 7,742 SHARES OF ORANGE-CO. (TICKER: OJ) THROUGH
RAYMOND JAMES & ASSOC. THE FILING WAS RECEIVED BY THE SEC ON DEC 24, 1991.
(ORANGE-CO. TEL: [phone])
-30- 495
MEDPHONE : P. GAN FILES TO SELL 50,000 SHARES
12/31/91
91365c0138  Comtex
FORM 144
SEC - PARTICPATIONS GAN OF THE ATRIUM STE 210 E 80 RT 4, PARAMUS, NJ 07652,
HAS FILED TO SELL 50,000 SHARES OF MEDPHONE CORP. (TICKER: MPHO) THROUGH
MERRILL LYNCH. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(MEDPHONE CORP. TEL: [phone])
-30- 471
TANKNOLOGY ENVIRONMENTAL : R.A. JENNINGS FILES TO SELL 8,888 SHARES
12/31/91
91365c0137  Comtex
FORM 144
SEC - R A JENNINGS OF 5225 HOLLISTER, HOUSTON, TX 77040, HAS FILED TO SELL
8,888 SHARES OF TANKNOLOGY ENVIRONMENTAL INC. (TICKER: TANK) THROUGH FIRST
BOSTON CORP. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(TANKNOLOGY ENVIRONMENTAL INC. TEL: [phone])
-30- 522
GUARDIAN BANCORP (CA): S. SOCOLOSKE FILES TO SELL 8,000 SHARES
12/31/91
91365c0136  Comtex
FORM 144
SEC - SAUL SOCOLOSKE OF 22110 CLAREDON #201, WOODLAND HILLS, CA 91364, HAS
FILED TO SELL 8,000 SHARES OF GUARDIAN BANCORP (CA) (TICKER: GB) THROUGH BEAR
STEARNS & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(GUARDIAN BANCORP (CA) TEL: [phone])
-30- 500
DIGITAL BIOMETRICS : J.P. MONNO FILES TO SELL 7,500 SHARES
12/31/91
91365c0135  Comtex
FORM 144
SEC - JOSEPH P MONNO OF 5773 EGG LAKE RD, HUGO, MN 55038, HAS FILED TO SELL
7,500 SHARES OF DIGITAL BIOMETRICS INC. (TICKER: DBII) THROUGH R J STEICHEN &
CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(DIGITAL BIOMETRICS INC. TEL: [phone])
-30- 496
RAMSAY-HMO : M. FERNANDEZ FILES TO SELL 5,000 SHARES
12/31/91
91365c0134  Comtex
FORM 144
SEC - MIKE FERNANDEZ OF 125 GAVILAN, CORAL GABLES, FL 33146, HAS FILED TO SELL
5,000 SHARES OF RAMSAY-HMO INC. (TICKER: RHMO) THROUGH ROBERTSON STEPHENS. THE
FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(RAMSAY-HMO INC. TEL: [phone])
-30- 470
BIOJECT MEDICAL SYSTEMS : INJET MEDICAL DEVICES FILES TO SELL 23,000 SHARES
12/31/91
91365c0133  Comtex
FORM 144
SEC - INJET MEDICAL DEVICES INC OF 26961 VIA LA MIRADA, SAN JUAN CAPISTRANO,
CA 92675, HAS FILED TO SELL 23,000 SHARES OF BIOJECT MEDICAL SYSTEMS LTD.
(TICKER: BJCT) THROUGH FIRST AMERN BILTMORE. THE FILING WAS RECEIVED BY THE
SEC ON DEC 19, 1991.
(BIOJECT MEDICAL SYSTEMS LTD. TEL: [phone])
-30- 564
COMDATA HOLDINGS : P. SANDLER FILES TO SELL 10,000 SHARES
12/31/91
91365c0132  Comtex
FORM 144
SEC - PAUL SANDLER OF 5111 NO SCOTTSDALE RD, SUITE 106, SCOTTSDALE, AZ 85250,
HAS FILED TO SELL 10,000 SHARES OF COMDATA HOLDINGS CORP. (TICKER: CMDT)
THROUGH MERRILL LYNCH. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(COMDATA HOLDINGS CORP. TEL: [phone])
-30- 509
VERTEX : A.M.R.P. LANDERS FILES TO SELL 20,000 SHARES
12/31/91
91365c0131  Comtex
FORM 144
SEC - ALLEN MD-PC RTMT PLAN/TR LANDERS OF 23 CAROL ST, CLIFTON, NJ 07014, HAS
FILED TO SELL 20,000 SHARES OF VERTEX INDUSTRIES INC. (TICKER: VETX) THROUGH
REICH & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 18, 1991.
(VERTEX INDUSTRIES INC. TEL: [phone])
-30- 491
PARLUX FRAGRANCES : F. PURCHES FILES TO SELL 23,000 SHARES
12/31/91
91365c0130  Comtex
FORM 144
SEC - FREDERICK PURCHES OF 2381 CONGRESS ST, FAIRFIELD, CT 06430, HAS FILED TO
SELL 23,000 SHARES OF PARLUX FRAGRANCES INC. (TICKER: PARL) THROUGH NASH WEISS
& CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 18, 1991.
(PARLUX FRAGRANCES INC. TEL: [phone])
-30- 500
INTERACTIVE MEDIA TECHNOLOGIES I: D.E. DEEDS FILES TO SELL 124,000 SHARES
12/31/91
91365c0129  Comtex
FORM 144
SEC - DAVID E DEEDS OF C/O WAVE PHORE INC, 2601 WEST BROADWAY, TEMPE, AZ 85282
 HAS FILED TO SELL 124,000 SHARES OF INTERACTIVE MEDIA TECHNOLOGIES I (TICKER:
IMTX) THROUGH PAINE WEBBER INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 18,
1991.
(INTERACTIVE MEDIA TECHNOLOGIES I TEL: [phone])
-30- 567
ALLIED WASTE : B. CHRISTENSEN FILES TO SELL 18,802 SHARES
12/31/91
91365c0128  Comtex
FORM 144
SEC - BOB CHRISTENSEN OF 211 EAST IMPERIAL AVE, FULLERTON, CA 92635, HAS FILED
TO SELL 18,802 SHARES OF ALLIED WASTE INDUSTRIES INC. (TICKER: AWIN) THROUGH
SMITH BARNEY. THE FILING WAS RECEIVED BY THE SEC ON DEC 18, 1991.
(ALLIED WASTE INDUSTRIES INC. TEL: [phone])
-30- 510
CONFERTECH INT'L : H. WALLS FILES TO SELL 6,666 SHARES
12/31/91
91365c0127  Comtex
FORM 144
SEC - HARRY WALLS OF 7498 WEST NICHOLS PLACE, 0, LITTLETON, CO 80123, HAS
FILED TO SELL 6,666 SHARES OF CONFERTECH INTERNATIONAL INC. (TICKER: CFER)
THROUGH HAMBRECHT & QUIST INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 19,
1991.
(CONFERTECH INTERNATIONAL INC. TEL: [phone])
-30- 519
CHALONE WINE GROUP : R.H. GRAFF FILES TO SELL 5,000 SHARES
12/31/91
91365c0126  Comtex
FORM 144
SEC - RICHARD H GRAFF OF P O BOX 855, SOLEDAD, CA 93960, HAS FILED TO SELL
5,000 SHARES OF CHALONE WINE GROUP LTD. (TICKER: CHLN) THROUGH HAMBRECHT &
QUIST INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(CHALONE WINE GROUP LTD. TEL: [phone])
-30- 499
PARAMETRIC TECHNOLOGY : A. GEISBERG FILES TO SELL 2,000 SHARES
12/31/91
91365c0125  Comtex
FORM 144
SEC - ASYA GEISBERG OF 80 DORCAR STREET, NEWTON, MA 02159, HAS FILED TO SELL
2,000 SHARES OF PARAMETRIC TECHNOLOGY CORP. (TICKER: PMTC) THROUGH ALEX BROWN
& SONS. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(PARAMETRIC TECHNOLOGY CORP. TEL: [phone])
-30- 513
IMAGE ENTERTAINMENT : B.E. WAGMAN FILES TO SELL 9,031 SHARES
12/31/91
91365c0124  Comtex
FORM 144
SEC - BARRY E WAGMAN OF 14571 VALLEY VISTA BLVD, SHERMAN OAKS, CA 91403, HAS
FILED TO SELL 9,031 SHARES OF IMAGE ENTERTAINMENT INC. (TICKER: DISK) THROUGH
VENTURE TRADING INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(IMAGE ENTERTAINMENT INC. TEL: [phone])
-30- 518
MARQUEST MEDICAL : T. MILLS FILES TO SELL 7,500 SHARES
12/31/91
91365c0123  Comtex
FORM 144
SEC - THOMAS MILLS OF 4345 SUMMIT CT, MARIETTA, GA 30066, HAS FILED TO SELL
7,500 SHARES OF MARQUEST MEDICAL PRODUCTS INC. (TICKER: MMPI) THROUGH
PRUDENTIAL-BACHE SECS. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(MARQUEST MEDICAL PRODUCTS INC. TEL: [phone])
-30- 517
AFFILIATED PUBLICATIONS : M.R. FEELY FILES TO SELL 10,073 SHARES
12/31/91
91365c0122  Comtex
FORM 144
SEC - MARTIN R FEELY OF 19 MESSENGER LANE, 0, SANDS PT, NY 11050, HAS FILED TO
SELL 10,073 SHARES OF AFFILIATED PUBLICATIONS INC. (TICKER: AFP) THROUGH
MORGAN STANLEY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(AFFILIATED PUBLICATIONS INC. TEL: [phone])
-30- 528
PLEXUS : J.L. NUSSBAUM FILES TO SELL 10,000 SHARES
12/31/91
91365c0121  Comtex
FORM 144
SEC - JOHN L NUSSBAUM OF 3532 GRAND MEADOWS DR, APPLETON, WI 54915, HAS FILED
TO SELL 10,000 SHARES OF PLEXUS CORP. (TICKER: PLXS) THROUGH DAIN BOSWORTH INC.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(PLEXUS CORP. TEL: [phone])
-30- 466
IMAGE ENTERTAINMENT : J.L. LOVELL FILES TO SELL 28,500 SHARES
12/31/91
91365c0120  Comtex
FORM 144
SEC - JERRY L LOVELL OF 12316 HARTSOOK STREET, NORTH HOLLYWOOD, CA 91311, HAS
FILED TO SELL 28,500 SHARES OF IMAGE ENTERTAINMENT INC. (TICKER: DISK) THROUGH
DEAN WITTER REYNOLDS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(IMAGE ENTERTAINMENT INC. TEL: [phone])
-30- 523
WETTERAU : R.E. MOHRMANN FILES TO SELL 25,000 SHARES
12/31/91
91365c0119  Comtex
FORM 144
SEC - ROBERT E MOHRMANN OF 8920 PERSHALL RD, HAZELWOOD, MO 63042, HAS FILED TO
SELL 25,000 SHARES OF WETTERAU INC. (TICKER: WETT) THROUGH HOWARD WEIL
LABOUISSE. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(WETTERAU INC. TEL: [phone])
-30- 473
FOUNDATION HEALTH : SUTTER AMBULATORY CARE FILES TO SELL 200,000 SHARES
12/31/91
91365c0118  Comtex
FORM 144
SEC - SUTTER AMBULATORY CARE CORP OF 2800 L STREET, 7TH FLOOR, SACRAMENTO, CA
95816, HAS FILED TO SELL 200,000 SHARES OF FOUNDATION HEALTH CORP. (TICKER:
FH) THROUGH CHARLES SCHWAB & CO.. THE FILING WAS RECEIVED BY THE SEC ON DEC 23
 1991.
(FOUNDATION HEALTH CORP. TEL: [phone])
-30- 542
FAIRCHILD : M.M. CAPLIN FILES TO SELL 20,000 SHARES
12/31/91
91365c0117  Comtex
FORM 144
SEC - MORTIMER M CAPLIN OF ONE THOMAS CIRCLE NW, 0, WASHINGTON, DC 20005, HAS
FILED TO SELL 20,000 SHARES OF FAIRCHILD CORP. (TICKER: FA) THROUGH BEAR
STEARNS & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(FAIRCHILD CORP. TEL: [phone])
-30- 480
WELLFLEET COMMUNICATIONS : POSSFUND & BRITEL JOINT VENTURE FILES TO SELL 17,762SHARES
12/31/91
91365c0116  Comtex
FORM 144
SEC - POSSFUND & BRITEL JOINT VENTURE OF 15 CROSBY DR, BEDFORD, MA 01730, HAS
FILED TO SELL 17,762 SHARES OF WELLFLEET COMMUNICATIONS INC. (TICKER: WFLT)
THROUGH ROBERTSON STEPHENS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(WELLFLEET COMMUNICATIONS INC. TEL: [phone])
-30- 562
BANC ONE : E.S. TRINITY FILES TO SELL 6,400 SHARES
12/31/91
91365c0115  Comtex
FORM 144
SEC - EPISCOPAL SCHL/MINISTRY TRINITY OF 100 E BROAD ST, COLUMBUS, OH 43271,
HAS FILED TO SELL 6,400 SHARES OF BANC ONE CORP. (TICKER: ONE) THROUGH MERRILL
LYNCH. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(BANC ONE CORP. TEL: [phone])
-30- 476
HEINZ (H.J.) : P. CORDDRY FILES TO SELL 200,000 SHARES
12/31/91
91365c0114  Comtex
FORM 144
SEC - PAUL CORDDRY OF 14 EDGEWOOD RD, PITTSBURGH, PA 15215, HAS FILED TO SELL
200,000 SHARES OF HEINZ (H.J.) CO. (TICKER: HNZ) THROUGH PNC SECURITIES CORP.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(HEINZ (H.J.) CO. TEL: [phone])
-30- 475
CORTEX PHARMACEUTICALS : K.B. KIMBERLIN FILES TO SELL 100,000 SHARES
12/31/91
91365c0113  Comtex
FORM 144
SEC - KEVIN B KIMBERLIN OF 9 OAK LANE, GREENWICH, CT 06870, HAS FILED TO SELL
100,000 SHARES OF CORTEX PHARMACEUTICALS INC. (TICKER: CORX) THROUGH D H BLAIR
& CO INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 24, 1991.
(CORTEX PHARMACEUTICALS INC. TEL: [phone])
-30- 523
TERADATA : R.C. STOCKTON FILES TO SELL 4,400 SHARES
12/31/91
91365c0112  Comtex
FORM 144
SEC - RICHARD C STOCKTON OF 19005 MERION DR, NORTHRIDGE, CA 91326, HAS FILED
TO SELL 4,400 SHARES OF TERADATA CORP (TICKER: TDAT) THROUGH MONTGOMERY
SECURITIES. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(TERADATA CORP TEL: [phone])
-30- 473
CENTEX : MURCHISON CLINT W ADMIN TR #2 FILES TO SELL 3,000 SHARES
12/31/91
91365c0111  Comtex
FORM 144
SEC - MURCHISON CLINT W ADMIN TR #2 OF 3333 LEE PARKWAY, SUITE 1200, DALLAS,
TX 75219, HAS FILED TO SELL 3,000 SHARES OF CENTEX CORP. (TICKER: CTX) THROUGH
BEAR STEARNS & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CENTEX CORP. TEL: [phone])
-30- 499
CML GROUP : C.M. LEIGHTON FILES TO SELL 12,000 SHARES
12/31/91
91365c0110  Comtex
FORM 144
SEC - CHARLES M LEIGHTON OF P O BOX 137, STILL RIVER, MA 01467, HAS FILED TO
SELL 12,000 SHARES OF CML GROUP INC. (TICKER: CML) THROUGH SHEARSON LEHMAN
HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CML GROUP INC. TEL: [phone])
-30- 476
FOOTHILL GROUP : P.E. SCHWAB FILES TO SELL 22,256 SHARES
12/31/91
91365c0109  Comtex
FORM 144
SEC - PETER E SCHWAB OF 11111 SANTA MONICA BLVD, LOS ANGELES, CA 90025, HAS
FILED TO SELL 22,256 SHARES OF THE FOOTHILL GROUP INC. (TICKER: FGI) THROUGH
MABON SECS CORP. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(THE  FOOTHILL GROUP INC. TEL: [phone])
-30- 504
LORAL : R.F. WELTE FILES TO SELL 4,127 SHARES
12/31/91
91365c0108  Comtex
FORM 144
SEC - ROBERT F WELTE OF 54 ROUND HILL RD, GREENWICH, CT 06830, HAS FILED TO
SELL 4,127 SHARES OF LORAL CORP. (TICKER: LOR) THROUGH MERRILL LYNCH. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(LORAL CORP. TEL: [phone])
-30- 448
WELLFLEET COMMUNICATIONS : D.P. BEST FILES TO SELL 3,706 SHARES
12/31/91
91365c0107  Comtex
FORM 144
SEC - DAVID P BEST OF 3000 SAND HILL RD #3-240, MENLO PARK, CA 94025, HAS
FILED TO SELL 3,706 SHARES OF WELLFLEET COMMUNICATIONS INC. (TICKER: WFLT)
THROUGH ALEX BROWN & SONS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(WELLFLEET COMMUNICATIONS INC. TEL: [phone])
-30- 531
QVC NETWORK : TELECABLE FILES TO SELL 395,540 SHARES
12/31/91
91365c0106  Comtex
FORM 144
SEC - TELECABLE CORP OF 999 WATERSIDE DR, DOMINION TOWER, NORFOLK, VA 23510,
HAS FILED TO SELL 395,540 SHARES OF QVC NETWORK INC. (TICKER: QVCN) THROUGH
SOVRAN INVSTMNT CORP. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(QVC NETWORK INC. TEL: [phone])
-30- 493
QUANTUM HEALTH RESOURCES : LUCAS DONALD & LYGIA TRUST FILES TO SELL 10,000SHARES
12/31/91
91365c0105  Comtex
FORM 144
SEC - LUCAS DONALD & LYGIA TRUST OF 790 THE CITY DR SOUTH, ORANGE, CA 90000,
HAS FILED TO SELL 10,000 SHARES OF QUANTUM HEALTH RESOURCES INC. (TICKER:
QHRI) THROUGH MORGAN STANLEY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC
23, 1991.
(QUANTUM HEALTH RESOURCES INC. TEL: [phone])
-30- 565
SEAGRAM : E. BRONFMAN FILES TO SELL 24,450 SHARES
12/31/91
91365c0104  Comtex
FORM 144
SEC - EDGAR BRONFMAN JR OF C/O JOSEPH E SEAGRAM & SONS INC, 375 PARK AVE, NEW
YORK, NY 10152, HAS FILED TO SELL 24,450 SHARES OF THE SEAGRAM COMPANY LTD.
(TICKER: VO) THROUGH MANUFACTURES HANOVER. THE FILING WAS RECEIVED BY THE SEC
ON DEC 23, 1991.
(THE  SEAGRAM COMPANY LTD. TEL: [phone])
-30- 523
INTERNEURON PHARMACEUTICALS : E.P. SPECIAL FILES TO SELL 70,000 SHARES
12/31/91
91365c0103  Comtex
FORM 144
SEC - EQUITIES PORTFOLIO/SLB SPECIAL OF 2 WORLD TRADE CENTER, 0, NEW YORK, NY
10048, HAS FILED TO SELL 70,000 SHARES OF INTERNEURON PHARMACEUTICALS INC.
(TICKER: IPIC) THROUGH BLACKFORD SECURITIES. THE FILING WAS RECEIVED BY THE
SEC ON DEC 26, 1991.
(INTERNEURON PHARMACEUTICALS INC. TEL: [phone])
-30- 569
IMMULOGIC PHARMACEUTICAL : P.C. ARROW FILES TO SELL 6,500 SHARES
12/31/91
91365c0102  Comtex
FORM 144
SEC - PRTNRS CV ARROW OF ONE KENDALL SQUARE, BLDG #600, CAMBRIDGE, MA 02139,
HAS FILED TO SELL 6,500 SHARES OF IMMULOGIC PHARMACEUTICAL CORP. (TICKER:
IMUL) THROUGH ROTHSCHILD INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(IMMULOGIC PHARMACEUTICAL CORP. TEL: [phone])
-30- 542
CLEVELAND CLIFFS : M.T. MOORE FILES TO SELL 5,000 SHARES
12/31/91
91365c0101  Comtex
FORM 144
SEC - M THOMAS MOORE OF 18660 WEST VALLEY LANE, 0, FAIRVIEW PARK, OH 44126,
HAS FILED TO SELL 5,000 SHARES OF CLEVELAND CLIFFS INC. (TICKER: CLF) THROUGH
ALEX BROWN & SONS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CLEVELAND CLIFFS INC. TEL: [phone])
-30- 506
HELENE CURTIS : J. CALABRO FILES TO SELL 3,000 SHARES
12/31/91
91365c0100  Comtex
FORM 144
SEC - JACK CALABRO OF 3020 N SHERIDAN, CHICAGO, IL 60657, HAS FILED TO SELL
3,000 SHARES OF HELENE CURTIS INDUSTRIES INC. (TICKER: HC) THROUGH OPPENHEIMER
& CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(HELENE CURTIS INDUSTRIES INC. TEL: [phone])
-30- 499
LIPOSOME : T.H. MCCOURTNEY FILES TO SELL 10,000 SHARES
12/31/91
91365c0099  Comtex
FORM 144
SEC - TED H MCCOURTNEY OF 200 ALLISON RD, 0, KATONAH, NY 10536, HAS FILED TO
SELL 10,000 SHARES OF THE LIPOSOME CO. (TICKER: LIPO) THROUGH MORGAN STANLEY &
CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(THE  LIPOSOME CO. TEL: [phone])
-30- 481
U.S. HEALTHCARE : L. ABRAMSON FILES TO SELL 180,151 SHARES
12/31/91
91365c0098  Comtex
FORM 144
SEC - LEONARD ABRAMSON OF 1298 PENLLYN BLUE BELL BIKE, 0, BLUE BELL, PA 19422,
HAS FILED TO SELL 180,151 SHARES OF U.S. HEALTHCARE INC. (TICKER: USHC)
THROUGH PRUDENTIAL-BACHE SECS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(U.S. HEALTHCARE INC. TEL: [phone])
-30- 516
HEWLETT-PACKARD : HEWLETT WILLIAM & FLORA FDN FILES TO SELL 200,000 SHARES
12/31/91
91365c0097  Comtex
FORM 144
SEC - HEWLETT WILLIAM & FLORA FDN OF 3000 HANOVER ST, PALO ALTO, CA 94304, HAS
FILED TO SELL 200,000 SHARES OF HEWLETT-PACKARD CO. (TICKER: HWP) THROUGH
MORGAN STANLEY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(HEWLETT-PACKARD CO. TEL: [phone])
-30- 521
LIBERTY : W.H. HIPP FILES TO SELL 6,400 SHARES
12/31/91
91365c0096  Comtex
FORM 144
SEC - W HAYNE HIPP OF P O BOX 789, 0, GREENVILLE, SC 29602, HAS FILED TO SELL
6,400 SHARES OF THE LIBERTY CORP. (TICKER: LC) THROUGH DILLON READ & CO. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(THE  LIBERTY CORP. TEL: [phone])
-30- 462
UNIVERSAL (VA): H.H. ROPER FILES TO SELL 3,740 SHARES
12/31/91
91365c0095  Comtex
FORM 144
SEC - HARTWELL H ROPER OF 104 CHARNWOOD RD, 0, RICHMOND, VA 23229, HAS FILED
TO SELL 3,740 SHARES OF UNIVERSAL CORP. (VA) (TICKER: UVV) THROUGH SHEARSON
LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(UNIVERSAL CORP. (VA) TEL: [phone])
-30- 491
UNIVERSAL (VA): A.B. KING FILES TO SELL 7,000 SHARES
12/31/91
91365c0094  Comtex
FORM 144
SEC - ALLEN B KING OF 3450 LADY MANAN CT, 0, MIDLOTHIAN, VA 23220, HAS FILED
TO SELL 7,000 SHARES OF UNIVERSAL CORP. (VA) (TICKER: UVV) THROUGH SHEARSON
LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(UNIVERSAL CORP. (VA) TEL: [phone])
-30- 490
UNIVERSAL (VA): R.J. ZALZNECK FILES TO SELL 2,200 SHARES
12/31/91
91365c0093  Comtex
FORM 144
SEC - ROBERT J ZALZNECK OF 1746 LAFAYETTE CIRCLE, 0, ROCKY MOUNT, NC 27803,
HAS FILED TO SELL 2,200 SHARES OF UNIVERSAL CORP. (VA) (TICKER: UVV) THROUGH
SHEARSON LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(UNIVERSAL CORP. (VA) TEL: [phone])
-30- 503
UNIVERSAL (VA): J.M. WHITE FILES TO SELL 2,000 SHARES
12/31/91
91365c0092  Comtex
FORM 144
SEC - JAMES M WHITE III OF 2114 KENSINGTON AVE, 0, RICHMOND, VA 23220, HAS
FILED TO SELL 2,000 SHARES OF UNIVERSAL CORP. (VA) (TICKER: UVV) THROUGH
SHEARSON LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(UNIVERSAL CORP. (VA) TEL: [phone])
-30- 495
HANNAFORD BROTHERS : D.H. BROWN FILES TO SELL 25,000 SHARES
12/31/91
91365c0091  Comtex
FORM 144
SEC - DOUGLAS H BROWN OF 407 KENDUSKEAG AVE, BANGOR, ME 04401, HAS FILED TO
SELL 25,000 SHARES OF HANNAFORD BROTHERS CO. (TICKER: HRD) THROUGH KIDDER
PEABODY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(HANNAFORD BROTHERS CO. TEL: [phone])
-30- 498
AURA SYSTEMS : C. WESTAR FILES TO SELL 50,000 SHARES
12/31/91
91365c0090  Comtex
FORM 144
SEC - CAPITAL WESTAR OF 2335 ALASKA AVE, EL SEGUNDO, CA 90245, HAS FILED TO
SELL 50,000 SHARES OF AURA SYSTEMS INC. (TICKER: AURA) THROUGH FIRST HANOVER
SECS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(AURA SYSTEMS INC. TEL: [phone])
-30- 479
ABIOMED : H.A. TERMEER FILES TO SELL 7,500 SHARES
12/31/91
91365c0089  Comtex
FORM 144
SEC - HENRI A TERMEER OF 65-3 COMMERCIAL WHARF, BOSTON, MA 02110, HAS FILED TO
SELL 7,500 SHARES OF ABIOMED INC. (TICKER: ABD) THROUGH KIDDER PEABODY & CO.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(ABIOMED INC. TEL: [phone])
-30- 465
INTELLIGENT ELECTRONICS : J.M. CICCARELLI FILES TO SELL 25,254 SHARES
12/31/91
91365c0088  Comtex
FORM 144
SEC - JAMES M CICCARELLI OF 4901 EL CAMINO, ENGLEWOOD, CO 80111, HAS FILED TO
SELL 25,254 SHARES OF INTELLIGENT ELECTRONICS INC. (TICKER: INEL) THROUGH
SMITH BARNEY. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(INTELLIGENT ELECTRONICS INC. TEL: [phone])
-30- 525
TELEFLEX : L.K. BLACK FILES TO SELL 30,000 SHARES
12/31/91
91365c0087  Comtex
FORM 144
SEC - LENNOX K BLACK OF 630 WEST GERMANTOWN PIKE, SUITE 450, PLYMOUTH MEETING,
PA 19462, HAS FILED TO SELL 30,000 SHARES OF TELEFLEX INC. (TICKER: TFX)
THROUGH ALEX BROWN & SONS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(TELEFLEX INC. TEL: [phone])
-30- 489
WETTERAU : R.E. MOHRMANN FILES TO SELL 5,000 SHARES
12/31/91
91365c0086  Comtex
FORM 144
SEC - ROBERT E MOHRMANN OF 8920 PERSHALL RD, HAZELWOOD, MO 63042, HAS FILED TO
SELL 5,000 SHARES OF WETTERAU INC. (TICKER: WETT) THROUGH HOWARD WEIL
LABOUISSE. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(WETTERAU INC. TEL: [phone])
-30- 471
MERCHANTS NAT'L : T. MCCABE FILES TO SELL 5,000 SHARES
12/31/91
91365c0085  Comtex
FORM 144
SEC - THOMAS MCCABE OF ONE MERCHANTS PLZ, STE 415-E, INDIANAPOLIS, IN 46255,
HAS FILED TO SELL 5,000 SHARES OF MERCHANTS NATIONAL CORP. (TICKER: MCHN)
THROUGH SHEARSON LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(MERCHANTS NATIONAL CORP. TEL: [phone])
-30- 522
ENVIRONMENTAL SYSTEMS : H.T. LACOSTE FILES TO SELL 36,000 SHARES
12/31/91
91365c0084  Comtex
FORM 144
SEC - HARRY T LACOSTE OF 621 ROYAL OAK, EL DORADO, AR 71730, HAS FILED TO SELL
36,000 SHARES OF ENVIRONMENTAL SYSTEMS CO. (TICKER: ESC) THROUGH HERZOG HEINE
GEDULD. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(ENVIRONMENTAL SYSTEMS CO. TEL: [phone])
-30- 514
U.S. SURGICAL : A. ASHMAN FILES TO SELL 125,000 SHARES
12/31/91
91365c0083  Comtex
FORM 144
SEC - ARTHUR ASHMAN OF 60 EAST END AVE, NEW YORK, NY 10028, HAS FILED TO SELL
125,000 SHARES OF U.S. SURGICAL CORP. (TICKER: USS) THROUGH MABON SECS CORP.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(U.S. SURGICAL CORP. TEL: [phone])
-30- 481
MAIL BOXES ETC.: DESIO ANTHONY TRUST FILES TO SELL 5,000 SHARES
12/31/91
91365c0082  Comtex
FORM 144
SEC - DESIO ANTHONY TRUST OF 5555 OBERLIN DR, SAN DIEGO, CA 92121, HAS FILED
TO SELL 5,000 SHARES OF MAIL BOXES ETC. (TICKER: MAIL) THROUGH PAINE WEBBER
INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(MAIL BOXES ETC. TEL: [phone])
-30- 485
BALL : R.M. RINGOEN FILES TO SELL 40,818 SHARES
12/31/91
91365c0081  Comtex
FORM 144
SEC - RICHARD M RINGOEN OF 2800 WEST BURNELL DR, MUNCIE, IN 47304, HAS FILED
TO SELL 40,818 SHARES OF BALL CORP. (TICKER: BLL) THROUGH MERRILL LYNCH. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(BALL CORP. TEL: [phone])
-30- 452
COPYTELE : F.J. DISANTO FILES TO SELL 50,000 SHARES
12/31/91
91365c0080  Comtex
FORM 144
SEC - FRANK J DISANTO OF 900 WALT WHITMAN RD, 0, HUNTINGTON STATION, NY 11746,
HAS FILED TO SELL 50,000 SHARES OF COPYTELE INC. (TICKER: COPY) THROUGH DEAN
WITTER REYNOLDS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(COPYTELE INC. TEL: [phone])
-30- 484
ADC TELECOMMUNICATIONS : L.J. MORGAN FILES TO SELL 8,734 SHARES
12/31/91
91365c0079  Comtex
FORM 144
SEC - LEROY J MORGAN OF 4900 W 78TH ST, MINNEAPOLIS, MN 55435, HAS FILED TO
SELL 8,734 SHARES OF ADC TELECOMMUNICATIONS INC. (TICKER: ADCT) THROUGH DAIN
BOSWORTH INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(ADC TELECOMMUNICATIONS INC. TEL: [phone])
-30- 518
COMMERCIAL METALS : FELDMAN FOUNDATION FILES TO SELL 20,426 SHARES
12/31/91
91365c0078  Comtex
FORM 144
SEC - FELDMAN FOUNDATION OF 7800 STEMMONS FRWY, P O BOX 1046, DALLAS, TX 75221
 HAS FILED TO SELL 20,426 SHARES OF COMMERCIAL METALS CO. (TICKER: CMC)
THROUGH SHEARSON LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(COMMERCIAL METALS CO. TEL: [phone])
-30- 529
ARROW ELECTRONICS : J.C. WADDELL FILES TO SELL 20,000 SHARES
12/31/91
91365c0077  Comtex
FORM 144
SEC - JOHN C WADDELL OF 375 PARK AVE, NEW YORK, NY 10152, HAS FILED TO SELL
20,000 SHARES OF ARROW ELECTRONICS INC. (TICKER: ARW) THROUGH BEAR STEARNS &
CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(ARROW ELECTRONICS INC. TEL: [phone])
-30- 496
GEORGIA GULF : KUSE MICHAEL J 1987 TRUST FILES TO SELL 6,000 SHARES
12/31/91
91365c0076  Comtex
FORM 144
SEC - KUSE MICHAEL J 1987 TRUST OF 400 PERIMETER CTR TERRACE, STE 595, ATLANTA
 GA 30346, HAS FILED TO SELL 6,000 SHARES OF GEORGIA GULF CORP. (TICKER: GGC)
THROUGH GOLDMAN SACHS & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(GEORGIA GULF CORP. TEL: [phone])
-30- 522
GREENWICH PHARMACEUTICALS : R.S. BURGESS FILES TO SELL 29,500 SHARES
12/31/91
91365c0075  Comtex
FORM 144
SEC - ROBERT S BURGESS JR OF TWO SOUNDVIEW DR, GREENWICH, CT 06820, HAS FILED
TO SELL 29,500 SHARES OF GREENWICH PHARMACEUTICALS INC. (TICKER: GRPI) THROUGH
SHEARSON LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(GREENWICH PHARMACEUTICALS INC. TEL: [phone])
-30- 543
URCARCO : L. MCCULLOCH FILES TO SELL 102,977 SHARES
12/31/91
91365c0074  Comtex
FORM 144
SEC - LEROY MCCULLOCH OF 118 ESCONDIDO, WILLIS, TX 77378, HAS FILED TO SELL
102,977 SHARES OF URCARCO INC. (TICKER: KAR) THROUGH SHEARSON LEHMAN HUTTON.
THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(URCARCO INC. TEL: [phone])
-30- 464
AQUANAUTICS : N.R. BUCKENHAM FILES TO SELL 100,000 SHARES
12/31/91
91365c0073  Comtex
FORM 144
SEC - NICHOLAS ROSS BUCKENHAM OF 7 SANTA LUCIA, ORINDA, CA 94563, HAS FILED TO
SELL 100,000 SHARES OF AQUANAUTICS CORP. (TICKER: AQNT) THROUGH FIRST ALBANY
CORP. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(AQUANAUTICS CORP. TEL: [phone])
-30- 487
SPECTRUM INFORMATION TECHNOLOGIE: R.S. GLASSNER FILES TO SELL 300,000 SHARES
12/31/91
91365c0072  Comtex
FORM 144
SEC - RONALD S GLASSNER OF 3445 52ND STREET, 0, MOLINE, IL 61265, HAS FILED TO
SELL 300,000 SHARES OF SPECTRUM INFORMATION TECHNOLOGIE (TICKER: SPCL) THROUGH
RAUSCHER PIERCE. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(SPECTRUM INFORMATION TECHNOLOGIE TEL: [phone])
-30- 555
PRICE (T.ROWE) ASSOC : C.H. SALISBURY FILES TO SELL 10,000 SHARES
12/31/91
91365c0071  Comtex
FORM 144
SEC - CHARLES H SALISBURY JR OF 100 EAST PRATT ST, BALTIMORE, MD 21202, HAS
FILED TO SELL 10,000 SHARES OF PRICE (T.ROWE) ASSOC INC. (TICKER: TROW)
THROUGH WERTHEIM SCHRODER & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(PRICE (T.ROWE) ASSOC INC. TEL: [phone])
-30- 535
WELLFLEET COMMUNICATIONS : NEW ENGLAND MUTUAL LIFE INS CO FILES TO SELL 22,202SHARES
12/31/91
91365c0070  Comtex
FORM 144
SEC - NEW ENGLAND MUTUAL LIFE INS CO OF 501 BOYLSTON STREET, BOSTON, MA 02117,
HAS FILED TO SELL 22,202 SHARES OF WELLFLEET COMMUNICATIONS INC. (TICKER:
WFLT) THROUGH ALEX BROWN & SONS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23,
1991.
(WELLFLEET COMMUNICATIONS INC. TEL: [phone])
-30- 569
TOP SOURCE : R. RANKIN FILES TO SELL 75,000 SHARES
12/31/91
91365c0069  Comtex
FORM 144
SEC - ROGER RANKIN OF P O BOX 9338, COLORADO SPRINGS, CO 80915, HAS FILED TO
SELL 75,000 SHARES OF TOP SOURCE INC. (TICKER: TOPS) THROUGH MORGAN STANLEY &
CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(TOP SOURCE INC. TEL: [phone])
-30- 473
CHIRON : A.F. RUSSELL FILES TO SELL 10,000 SHARES
12/31/91
91365c0068  Comtex
FORM 144
SEC - ALAN F RUSSELL OF 4560 HORTON STREET, EMERYVILLE, CA 94608, HAS FILED TO
SELL 10,000 SHARES OF CHIRON CORP. (TICKER: CHIR) THROUGH MONTGOMERY
SECURITIES. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CHIRON CORP. TEL: [phone])
-30- 467
POWELL : N. HARE FILES TO SELL 48,195 SHARES
12/31/91
91365c0067  Comtex
FORM 144
SEC - NEAL HARE OF 26143 KARAN RD, KATY, TX 77494, HAS FILED TO SELL 48,195
SHARES OF POWELL INDUSTRIES INC. (TICKER: POWL) THROUGH R W BAIRD & CO. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(POWELL INDUSTRIES INC. TEL: [phone])
-30- 464
BIOMET : J.L. MILLER FILES TO SELL 50,000 SHARES
12/31/91
91365c0066  Comtex
FORM 144
SEC - JERRY L MILLER OF 3503 GREENLEAF BLVD #203, 0, KALAMAZOO, MI 49008, HAS
FILED TO SELL 50,000 SHARES OF BIOMET INC. (TICKER: BMET) THROUGH
RAFFENSPERGER HUGHES. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(BIOMET INC. TEL: [phone])
-30- 470
NIKE : G.E. PORTER FILES TO SELL 7,500 SHARES
12/31/91
91365c0065  Comtex
FORM 144
SEC - GEORGE E PORTER OF 15647 S W VILLAGE DR, LAKE OSWEGO, OR 97034, HAS
FILED TO SELL 7,500 SHARES OF NIKE INC. (TICKER: NKE) THROUGH DEAN WITTER
REYNOLDS. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(NIKE INC. TEL: [phone])
-30- 456
GERBER : M. OKKEMA FILES TO SELL 2,000 SHARES
12/31/91
91365c0064  Comtex
FORM 144
SEC - MATTHEW OKKEMA OF 671 SEMINOLE, FREMONT, MI 49412, HAS FILED TO SELL
2,000 SHARES OF GERBER PRODUCTS CO. (TICKER: GEB) THROUGH MERRILL LYNCH. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(GERBER PRODUCTS CO. TEL: [phone])
-30- 466
GERBER : Y.A. LEE FILES TO SELL 2,400 SHARES
12/31/91
91365c0063  Comtex
FORM 144
SEC - YVONNE A LEE OF 311 MUNN STREET, HESPERIA, MI 49421, HAS FILED TO SELL
2,400 SHARES OF GERBER PRODUCTS CO. (TICKER: GEB) THROUGH MERRILL LYNCH. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(GERBER PRODUCTS CO. TEL: [phone])
-30- 467
MORRIS (PHILIP) : L.J. GOLDSTEIN FILES TO SELL 8,239 SHARES
12/31/91
91365c0062  Comtex
FORM 144
SEC - LEONARD J GOLDSTEIN OF 7855 NORTH CLUB CIRCLE, FOX POINT, WI 53217, HAS
FILED TO SELL 8,239 SHARES OF MORRIS (PHILIP) COS. (TICKER: MO) THROUGH M & I
BROKERAGE SVC. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(MORRIS (PHILIP) COS. TEL: [phone])
-30- 501
CORDIS : D.G. HALL FILES TO SELL 12,000 SHARES
12/31/91
91365c0061  Comtex
FORM 144
SEC - DANIEL G HALL OF 14820 SW 149 AVE, MIAMI, FL 33196, HAS FILED TO SELL
12,000 SHARES OF CORDIS CORP. (TICKER: CORD) THROUGH MERRILL LYNCH. THE FILING
WAS RECEIVED BY THE SEC ON DEC 26, 1991.
(CORDIS CORP. TEL: [phone])
-30- 448
DIMENSIONAL VISIONS GROUP : M.P. GRANT FILES TO SELL 108,445 SHARES
12/31/91
91365c0060  Comtex
FORM 144
SEC - M PERRY GRANT OF 1001 FIFTH AVE, NEW YORK, NY 10028, HAS FILED TO SELL
108,445 SHARES OF DIMENSIONAL VISIONS GROUP LTD. (TICKER: DVGL) THROUGH LOU
LIEBERBAUM & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 26, 1991.
(DIMENSIONAL VISIONS GROUP LTD. TEL: [phone])
-30- 531
CLOTHESTIME : R.A.D. ANGELO FILES TO SELL 25,000 SHARES
12/31/91
91365c0059  Comtex
FORM 144
SEC - RAYMOND A DE ANGELO OF 5325 EAST HUNTER AVE, ANAHEIM, CA 92807, HAS
FILED TO SELL 25,000 SHARES OF THE CLOTHESTIME INC. (TICKER: CTME) THROUGH
PAINE WEBBER INC. THE FILING WAS RECEIVED BY THE SEC ON DEC 26, 1991.
(THE  CLOTHESTIME INC. TEL: [phone])
-30- 493
MUTUAL RISK MANAGEMENT : GREYLOCK INVESTMENTS FILES TO SELL 29,000 SHARES
12/31/91
91365c0058  Comtex
FORM 144
SEC - GREYLOCK INVESTMENTS LTD OF ONE FEDERAL STREET, BOSTON, MA 02110, HAS
FILED TO SELL 29,000 SHARES OF MUTUAL RISK MANAGEMENT LTD. (TICKER: MM)
THROUGH MORGAN STANLEY & CO. THE FILING WAS RECEIVED BY THE SEC ON DEC 26,
1991.
(MUTUAL RISK MANAGEMENT LTD. TEL: [phone])
-30- 541
CONCORD CAMERA : J.C. BENUN FILES TO SELL 154,025 SHARES
12/31/91
91365c0057  Comtex
FORM 144
SEC - JACK C BENUN OF 35 MILEED WAY, AVENEL, NJ 07001, HAS FILED TO SELL
154,025 SHARES OF CONCORD CAMERA CORP. (TICKER: LENS) THROUGH PAINE WEBBER INC.
THE FILING WAS RECEIVED BY THE SEC ON DEC 26, 1991.
(CONCORD CAMERA CORP. TEL: [phone])
-30- 483
WELLFLEET COMMUNICATIONS : MUTUAL LIFE INSURANCE FILES TO SELL 22,202 SHARES
12/31/91
91365c0056  Comtex
FORM 144
SEC - MUTUAL LIFE INSURANCE OF 500 FRANK WEST BURR BLVD, GLENPOINTE CENTER
WEST, TEANECK, NJ 07666, HAS FILED TO SELL 22,202 SHARES OF WELLFLEET
COMMUNICATIONS INC. (TICKER: WFLT) THROUGH ALEX BROWN & SONS. THE FILING WAS
RECEIVED BY THE SEC ON DEC 26, 1991.
(WELLFLEET COMMUNICATIONS INC. TEL: [phone])
-30- 578
PAN WORLD MINERALS INTL : A.G. WEEKS FILES TO SELL 370,000 SHARES
12/31/91
91365c0055  Comtex
FORM 144
SEC - A GRAY WEEKS OF 86 WEST 5878 SOUTH, MUARRAY, UT 84107, HAS FILED TO SELL
370,000 SHARES OF PAN WORLD MINERALS INTL INC. THROUGH COVEY & CO INC. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(PAN WORLD MINERALS INTL INC. TEL: [phone]).
-30- 499
TECHNICRAFT FINANCIAL : R. COBEN FILES TO SELL 150,000 SHARES
12/31/91
91365c0054  Comtex
FORM 144
SEC - RHODA COBEN OF 27003 BELCHER HILL RD, GOLDEN, CO 80403, HAS FILED TO
SELL 150,000 SHARES OF TECHNICRAFT FINANCIAL LTD. THROUGH TAMARON INVTMTS INC.
THE FILING WAS RECEIVED BY THE SEC ON DEC 19, 1991.
(TECHNICRAFT FINANCIAL LTD. TEL: [phone]).
-30- 497
MEDIZONE INT'L : R. CALAT FILES TO SELL 200,000 SHARES
12/31/91
91365c0053  Comtex
FORM 144
SEC - RICHARD CALAT OF 1733 EAST 3RD STREET, BROOKLYN, NY 11223, HAS FILED TO
SELL 200,000 SHARES OF MEDIZONE INTERNATIONAL INC THROUGH PRUDENTIAL-BACHE
SECS. THE FILING WAS RECEIVED BY THE SEC ON DEC 18, 1991.
(MEDIZONE INTERNATIONAL INC TEL: [phone]).
-30- 491
MEDIZONE INT'L : S. LATINO FILES TO SELL 200,000 SHARES
12/31/91
91365c0052  Comtex
FORM 144
SEC - SALVATORE LATINO OF 902 OCEAN PKWY, APT 5E, BROOKLYN, NY 11230, HAS
FILED TO SELL 200,000 SHARES OF MEDIZONE INTERNATIONAL INC THROUGH
PRUDENTIAL-BACHE SECS. THE FILING WAS RECEIVED BY THE SEC ON DEC 18, 1991.
(MEDIZONE INTERNATIONAL INC TEL: [phone]).
-30- 497
CARTER HAWLEY HALE STORES : W.H. BURNSIDE FILES TO SELL 84,735 SHARES
12/31/91
91365c0051  Comtex
FORM 144
SEC - WALDO H BURNSIDE OF 1266 STRADELLA RD, LOS ANGELES, CA 90024, HAS FILED
TO SELL 84,735 SHARES OF CARTER HAWLEY HALE STORES INC. THROUGH SHEARSON
LEHMAN HUTTON. THE FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(CARTER HAWLEY HALE STORES INC. TEL: [phone]).
-30- 532
AMDAHL : T.V. TILTON FILES TO SELL 130,000 SHARES
12/31/91
91365c0050  Comtex
FORM 144
SEC - THOMAS V TILTON OF 24901 VIA SANTA CRUZ, MISSION VIEJO, CA 92692, HAS
FILED TO SELL 130,000 SHARES OF AMDAHL INC. THROUGH TOLUCA PACIFIC SECS. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(AMDAHL INC. TEL: [phone]).
-30- 457
EARTH SEARCH SCIENCES : L. VANCE FILES TO SELL 500,000 SHARES
12/31/91
91365c0049  Comtex
FORM 144
SEC - LARRY VANCE OF 310 EAST 4500 SOUTH #420, 0, MURRAY, UT 84107, HAS FILED
TO SELL 500,000 SHARES OF EARTH SEARCH SCIENCES INC. THROUGH ALPINE SECS. THE
FILING WAS RECEIVED BY THE SEC ON DEC 23, 1991.
(EARTH SEARCH SCIENCES INC. TEL: [phone]).
-30- 500
CHEMICAL VENTURE CAPITAL ET AL REPORTS 51.46% OWNERSHIP OF HANGER ORTHOPEDIC
12/31/91
91365c0048  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 006
GROUP LED BY CHEMICAL VENTURE CAPITAL ASSOCIATES OF GROUP LED BY  OWNS
3,197,520 SHARES (51.46%) OF HANGER ORTHOPEDIC GROUP INC (TICKER: HGR) OF
BETHESDA, MD.
ANNOUNCEMENT:
On Nov. 5, 1991, the issuer issued warrants to each of the reporting persons
due to certain notes not having been paid by that date. The notes are
connected with a transaction effected in 1989 in which J.E. Hanger Inc. became
a wholly-owned subsidiary of the issuer.
PURPOSE: Issuance of warrants in lieu of note payments.
-30- 828
T PRICE ROWE ET AL REPORTS 11.60% OWNERSHIP OF CIRO
12/31/91
91365c0047  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
GROUP LED BY T PRICE ROWE OWNS 641,591 SHARES (11.60%) OF CIRO INC (TICKER:
CIRI) OF NEW YORK, NY.
ANNOUNCEMENT:
According to the securities purchase agreement, dated Dec. 5, 1991, the filer
acquired 5,000 issuer shares of Series D Preferred from the issuer for an
aggregate purchase price of $500,000. The shares are presently convertible
into 90,909 shares of common stock. On Dec. 19, 1991, the reporting persons
acquired another 5,000 shares of Series D Preferred, which are also presently
convertible into 90,909 shares of common stock, for an aggregate purchase
price of $500,000.
LATEST TRANSACTION:
Between Sept. 11, 1991 and Oct. 9, 1991, the reporting persons purchased
12,500 issuer common shares for an aggregate consideration of $42,187.50.
PURPOSE: Acquisition of shares.
-30- 1098
RUSSELL G CHAMBERS REPORTS 57.36% OWNERSHIP OF SUMMA RX LABORATORIES
12/31/91
91365c0045  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
RUSSELL G CHAMBERS OWNS 2,470,847 SHARES (57.36%) OF SUMMA RX LABORATORIES INC
(TICKER:SMRX) OF MINERAL WELLS, TX.
ANNOUNCEMENT:
As of Dec. 20, 1991, the reporting person acquired beneficial ownership of
2,470,847 issuer common shares in exchange for 80 percent of the outstanding
capital stock of Mountain Brook Spring Water Co. Inc. in order to effect a
reorganization between the issuer and Mountain Brook.
PURPOSE: Acquisition of shares in a reorganization.
-30- 772
ARROWHEAD HOLDINGS REPORTS 6.80% OWNERSHIP OF SL INDUSTRIES
12/31/91
91365c0044  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
GROUP LED BY ARROWHEAD HOLDINGS CORP OF GROUP LED BY  OWNS 448,034 SHARES
(6.80%) OF SL INDUSTRIES INC (TICKER: SL) OF MT LAUREL, NJ.
ANNOUNCEMENT:
On Oct. 15, 1991, James Benenson Jr., the chairman, president, and chief
executive officer of the reporting persons, met with issuer management and
requested that he be elected to the issuer board and was so elected on that
date.
LATEST TRANSACTION:
On Dec. 20, 1991, the filer purchased 109,182 shares in a privately negotiated
transaction at $4 per share.
PURPOSE: Purchase of shares, election to board.
-30- 863
ALFRED P WEST JR REPORTS 25.20% OWNERSHIP OF SEI
12/31/91
91365c0043  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
ALFRED P WEST JR  OWNS 2,568,185 SHARES (25.20%) OF SEI CORP (TICKER: SEIC) OF
WAYNE, PA.
ANNOUNCEMENT:
The filer acquired his shares in the issuer in 1975 when the company was
privately held. Since the company's initial public offering in 1981, the filer
has not acquired any additional shares. The reporting person is chairman and
chief executive officer of the issuer.
PURPOSE: Reports holdings.
-30- 679
FREY FOUNDATION ET AL REPORTS 31.49% OWNERSHIP OF FOREMOST OF AMERICA
12/31/91
91365c0042  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 010
GROUP LED BY FREY FOUNDATION  OWNS 3,374,684 SHARES (31.49%) OF FOREMOST CORP
OF AMERICA (TICKER: FCOA) OF GRAND RAPIDS, MI.
ANNOUNCEMENT:
On Dec. 13, 1991, John M. Frey, a reporting person, resigned as a director of
the issuer. On Dec. 16, 1991, David G. Frey, another reporting person,
resigned as chairman and director of the issuer.
LATEST TRANSACTION:
Between Nov. 22, 1991 and Nov. 27, 1991, the reporting persons sold 32,000
shares for $20 to $21 per share.
PURPOSE: Sale of shares, resignations from board.
-30- 848
HOWARD N HEBERT REPORTS 9.07% OWNERSHIP OF DBA SYSTEMS
12/31/91
91365c0041  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
HOWARD N HEBERT OF FAIRFAX, VIRGINIA OWNS 251,389 SHARES (9.07%) OF DBA
SYSTEMS INC (TICKER: DBAS) OF MELBOURNE, FL.
ANNOUNCEMENT:
On Dec. 14, 1991, the reporting person resigned from the issuer board and as a
result stock options for 5,000 shares were terminated. On Dec. 19, 1991, the
reporting person sold 80,000 shares in a private transaction for $4 per share.
PURPOSE: Resignation from board, termination of stock option.
-30- 718
NASD REPORTS TRADE RESUMED ON CHEMICAL BANKING
12/31/91
91365c0040  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD has announced that trade in Chemical
Banking Corp. has been resumed. The company is listed on the NYSE Exchange,
ticker symbol CHL. Trading was resumed at 14:58.
-30- 433
NASD REPORTS TRADE RESUMED ON MANUFACTURERS HANOVER
12/31/91
91365c0039  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD has announced that trade in
Manufacturers Hanover Corp. has been resumed. The company is listed on the
NYSE Exchange, ticker symbol MHC. Trading was resumed at 14:59.
-30- 451
FLORIDA MUNICIPAL POWER SUES FLORIDA POWER & LIGHT
12/31/91
91365c0038  Comtex
STAMFORD, CT (DEC. 31) COMTEX - Florida Municipal Power Agency, an
organization of municipal electrical utilities, has sued Florida Power & Light
Co. of Juno Beach, Fla., for breach of contract and the violation of antitrust
laws.
Specifically, Florida Municipal charges that Florida Power has attempted to
monopolize transmission of electric power in its area by ''refusing to provide
transmission service'' or to allow Florida Municipal to invest in its
transmission system on its terms.
Florida Municipal is seeking unspecified money damages, tripled for the
antitrust charge, and wants to be allowed to transmit electric power to its
members ''on reasonable terms and conditions,'' according to a Securities and
Exchange Commission filing.
This 8-k Filing was submitted to the Securities and Exchange Commission on
DEC. 30, 1991
-30- 1100
COMTREX TO MAKE PRODUCTS FOR SHARP
12/31/91
91365c0037  Comtex
STAMFORD, CT (DEC. 31) COMTEX - Comtrex Systems Corp. of Moorestown, N.J.,
has entered a manufacturing agreement with Sharp Electronic Corp. of New York
under which it will develop and manufacture products under the Sharp name. The
agreement also gives Sharp exclusive distribution rights to most of Comtrex's
U.S. products, according to a Securities and Exchange Commission filing.
This 8-k Filing was submitted to the Securities and Exchange Commission on
DEC. 30, 1991
-30- 724
NEW LINE CINEMA, METROMEDIA DEVISE PLAN FOR ORION
12/31/91
91365c0036  Comtex
STAMFORD, CT (DEC. 31) COMTEX - New Line Cinema Corp. of New York, and
Metromedia Co. of Secaucus, N.J., have proposed a reorganization plan for
Orion Pictures Corp., the bankrupt New York motion-picture company. The
proposal calls for New Line and Metromedia to purchase 11 percent of Orion's
common stock in exchange for a portion of equity after its reorganization is
completed. The reorganization plan still must be approved by Orion's board,
its creditors and the Bankruptcy Court for the Southern District of New York,
according to a Securities and Exchange Commission filing.
This 8-k Filing was submitted to the Securities and Exchange Commission on
DEC. 30, 1991
-30- 945
UGI DECIDES TO REORGANIZE AS HOLDING COMPANY
12/31/91
91365c0035  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The board of directors of UGI Corp., a Valley
Forge, Pa., company that recently has been evaluating its capital structure,
decided Dec. 17 to reorganize UGI and its subsidiaries into a holding company.
Assuming all regulatory and shareholder approvals are obtained, the
diversified utilities company plans to complete the reorganization during the
first half of 1992, according to a Securities and Exchange Commission filing.
This 8-k Filing was submitted to the Securities and Exchange Commission on
DEC. 30, 1991
-30- 775
SUPERMARKETS GENERAL SELLS TWO UNITS FOR $265 MILLION
12/31/91
91365c0034  Comtex
STAMFORD, CT (DEC. 31) COMTEX - Supermarkets General Holdings Corp. of
Woodbridge, N.J., said it has sold two of its units, Purity Supreme Inc. and
Li'l Peach Corp., to a company organized by Freeman Spogli & Co. for $265
million, including the assumption of certain debt.
Supermarkets General retained a 10 percent common equity interest in Purity
Supreme, $21 million of exchangeable preferred stock and a convertible
subordinated note with a principal amount of $2 million, according to a
Securities and Exchange Commission filing. It also kept three facilities that
had been owned or leased by Purity.
Proceeds from the sale will be used to retire part of a term loan.
This 8-k Filing was submitted to the Securities and Exchange Commission on
DEC. 30, 1991
-30- 1081
NASD REPORTS TRADE HALTED ON CHEMICAL BANKING
12/31/91
91365c0033  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 14:42 that trade in
Chemical Banking Corp. (NYSE: CHL) has been halted because of the
dissemination of news.
-30- 394
NASD REPORTS TRADE HALTED ON MANUFACTURERS HANOVER
12/31/91
91365c0032  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 14:42 that trade in
Manufacturers Hanover Corp. (NYSE: MHC) has been halted because of the
dissemination of news.
-30- 409
NASD REPORTS TRADE RESUMED ON LANDMARK BANCORP.
12/31/91
91365c0031  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 14:26 that trade in
Landmark Bancorporation (NASDAQ: LMBC) has been resumed. The first sale was 7;
down 1 point from the halt.
-30- 402
KEVIN K FARLEY REPORTS 5.76% OWNERSHIP OF BIRTCHER MEDICAL SYSTEMS
12/31/91
91365c0030  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
KEVIN K FARLEY OWNS 520,008 SHARES (5.76%) OF BIRTCHER MEDICAL SYS INC
(TICKER: BIRT) OF EL MONTE, CA.
ANNOUNCEMENT:
On Dec. 20, 1991, Solos Endoscopy Inc. ("Solos"), had become a wholly owned
subsidiary of the issuer pursuant to the Agreement of Merger, among SEI
Acquisition Corp., Solos, and the issuer. dated Oct. 5, 1991. In the
transaction, the agreement, the filer was issued 520,008 issuer shares. In
connection with the transaction, the filer entered into an escrow agreement and
agreed not to sell issuer shares until certain issuer financial results are
released.
PURPOSE: Acquisition of shares due to merger agreement.
-30- 959
WILLIAM MEYER REPORTS 5.76% OWNERSHIP OF BIRTCHER MEDICAL SYSTEMS
12/31/91
91365c0029  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
WILLIAM MEYER OWNS 520,008 SHARES (5.76%) OF BIRTCHER MEDICAL SYS INC (TICKER:
BIRT) OF EL MONTE, CA.
ANNOUNCEMENT:
On Dec. 20, 1991, Solos Endoscopy Inc. ("Solos"), had become a wholly owned
subsidiary of the issuer pursuant to the Agreement of Merger, among SEI
Acquisition Corp., Solos, and the issuer. dated Oct. 5, 1991. In the
transaction, the agreement, the filer was issued 520,008 issuer shares. In
connection with the transaction, the filer entered into an escrow agreement and
agreed not to sell issuer shares until certain issuer financial results are
released.
PURPOSE: Acquisition of shares due to merger agreement.
-30- 958
EDWARD J LORTIE REPORTS 5.76% OWNERSHIP OF BIRTCHER MEDICAL SYS
12/31/91
91365c0028  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
EDWARD J LORTIE OWNS 520,008 SHARES (5.76%) OF BIRTCHER MEDICAL SYS INC
(TICKER: BIRT) OF EL MONTE, CA.
ANNOUNCEMENT:
On Dec. 20, 1991, Solos Endoscopy Inc. ("Solos"), had become a wholly owned
subsidiary of the issuer pursuant to the Agreement of Merger, among SEI
Acquisition Corp., Solos, and the issuer. dated Oct. 5, 1991. In the
transaction, the agreement, the filer was issued 520,008 issuer shares. In
connection with the transaction, the filer entered into an escrow agreement and
agreed not to sell issuer shares until certain issuer financial results are
released.
PURPOSE: Acquisition of shares due to a merger agreement.
-30- 959
GAMCO INVESTORS ET AL REPORTS 11.98% OWNERSHIP OF REPUBLIC AUTOMOTIVE PARTS
12/31/91
91365c0027  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 004
GROUP LED BY GAMCO INVESTORS INC OWNS 343,400 SHARES (11.98%) OF REPUBLIC
AUTOMOTIVE PARTS INC (TICKER: RAUT) OF BRENTWOOD, TN.
ANNOUNCEMENT: No other significant information was included.
LATEST TRANSACTION:
Between Dec. 9, 1991 and Dec. 26, 1991, the reporting person sold 28,600
shares at $8.50 to $9.87 per share. On Nov. 29, 1991, the reporting persons
lost dispositive power over 2,500 shares.
PURPOSE: Sale of shares.
-30- 758
PRIMERICA ET AL REPORTS 17.80% OWNERSHIP OF GREYHOUND LINES
12/31/91
91365c0026  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
GROUP LED BY PRIMERICA CORP OF GROUP LED BY NEW YORK, NY OWNS 1,710,352 SHARES
(17.80%) OF GREYHOUND LINES INC (TICKER: BUS) OF NEW YORK, NY.
ANNOUNCEMENT:
On Dec. 18, 1991, the issuer issued additional issuer shares and had 9,599,447
shares outstanding. Accordingly, as of Dec. 18, 1991, the 1,710,325 issuer
share held by the filer represented 17.8% of the shares. The resulting
reduction in the percentage of shares was due to the issuance. The filers will
file a short form statement on Schedule 13G and will no longer file further
amendments to this statement on Schedule 13D.
PURPOSE: Updates the percentage of holdings.
-30- 960
SUMMERFIELD K JOHNSTON JR REPORTS 7.50% OWNERSHIP OF COCA COLA ENTP.
12/31/91
91365c0025  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
SUMMERFIELD K JOHNSTON JR  OWNS 9,653,562 SHARES (7.50%) OF COCA COLA
ENTERPRISES INC (TICKER: CCE) OF ATLANTA, GA.
ANNOUNCEMENT:
On Dec. 18, 1991, the reporting person was elected a director, vice chairman
of the board and chief executive officer of the issuer as a result of the
merger of Johnston Coca-Cola Bottling Group Inc. into a subsidiary of the
issuer. On Dec. 17, 1991, the issuer and the reporting person entered into the
Merger Agreement and Plan of Reorganization with the issuer, CCE Exchange
Corp., a wholly owned subsidiary of the issuer, and the reporting person. Each
issued and outstanding class A and class B common share of the Johnston
Coca-Cola was converted into the right to receive 2,128.2 common shares of the
issuer or $30,327 in cash. Three representatives of Johnston Coca-Cola,
including the reporting person, were elected to the issuer board, which was
expanded from 12 to 15 members.
PURPOSE: Merger.
-30- 1269
WALSH GREENWOOD & CO ET AL REPORTS 74.08% OWNERSHIP OF SIGNAL APPAREL CO
12/31/91
91365c0022  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 015
GROUP LED BY WALSH GREENWOOD & CO OF NEW YORK, NY OWNS 6,779,337 SHARES
(74.08%) OF SIGNAL APPAREL CO INC (TICKER: SIA) OF CHATTANOOGA, TN.
ANNOUNCEMENT:
In order to provide the issuer with additional working capital, the filer has
entered into several loan agreements with the issuer. On Oct. 23, 1991, the
filer agreed to provide the issuer with $17,000,000 of new indebtedness. On
Dec. 10, 1991, the filer agreed to provide the issuer with $5,000,000 of new
subordinated indebtedness. In connection with the loan to the issuer, the
filer received warrants to purchase 650,000 class A shares for $12.00 per
share until Dec. 31, 1992, $14.00 per share from Jan. 1, 1993, to Dec. 31,
1993, and $16.00 per share from Jan. 1, 1994, to Dec. 31, 1994.
LATEST TRANSACTION:
From July 30, 1991, to Dec. 10, 1991, the filer purchased 403,297 shares for
$10 to $17.375 per share. In the filer's amendment number 14, the filer
reported that 75,803 shares were purchased on Aug. 23, 1991, but the
transaction was not consummated. The filer purchased 1,030 preferred shares
for $44 to $67.50 per share.
PURPOSE: Purchase of securities, loan to issuer.
-30- 1499
JOHN H FELIX ET AL REPORTS 4.90% OWNERSHIP OF PIONEER FEDERAL BANCORP
12/31/91
91365c0021  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 006
GROUP LED BY JOHN H FELIX OWNS 119,950 SHARES (4.90%) OF PIONEER FEDERAL
BANCORP INC (TICKER: PFBC) OF HONOLULU, HI.
ANNOUNCEMENT:
On Dec. 13, 1991, the filer completed the sale of 5,600 shares in an open
market transaction.
PURPOSE: Sale of shares.
-30- 601
NASD REPORTS TRADE RESUMED ON TUCSON ELECTRIC POWER
12/31/91
91365c0020  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD has announced that trade in Tucson
Electric Power Co. has been resumed. The company is listed on the NYSE
Exchange, ticker symbol TEP. Trading was resumed at 13:59.
-30- 444
PNC FINANCIAL REPORTS 0.00% OWNERSHIP OF SUNRISE BANCORP KY
12/31/91
91365c0019  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
PNC FINANCIAL CORP OF PITTSBURGH, PA OWNS 0 SHARES (0.00%) OF SUNRISE BANCORP
INC KY (TICKER: SRSL) OF GREAT NECK, NY.
ANNOUNCEMENT:
On Dec. 20, 1991, the reporting person, The Central Bancorporation Inc., and
the issuer entered into an Agreement and Plan of Reorganization and a related
Agreement of Merger providing for the merger of the issuer with an into
Central, which is a wholly-owned subsidiary of the reporting person. Under the
agreement, each issuer common shares will be converted into .59 share of
reporting person stock. Consummation of the merger is subject to, among other
things, shareholder and regulatory approvals. Also on Dec. 20, 1991, under a
Stock Option Agreement, the issuer granted to the reporting person an option
to purchase up to 191,300 issuer common shares, subject to adjustment. The
exercise price of the option is $19 per share and the aggregate amount of
funds required to exercise the option in full would be $3,634,700.
PURPOSE: Merger of issuer and subsidiary of filer.
-30- 1350
SEEBURG INT'L REPORTS 45.00% OWNERSHIP OF SEEBURG CORP
12/31/91
91365c0018  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
SEEBURG INTERNATIONAL INC OWNS 14,816,802 SHARES (45.00%) OF SEEBURG CORP
(TICKER: H.SBRG) OF ADDISION, IL.
ANNOUNCEMENT:
As of Nov. 27, 1991, the reporting persons had acquired an option to purchase
up to 45 percent of the issued and outstanding shares of the issuer. The
option may be exercised from Jan. 1, 1991, through Dec. 31, 1999.
PURPOSE: Acquisition of shares through option.
-30- 674
GERALD G GRUBE TTEE REPORTS 5.26% OWNERSHIP OF SCHULTZ SAV O STORES
12/31/91
91365c0017  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
GRUBE GERALD G TRUSTEE OF  OWNS 153,154 SHARES (5.26%) OF SCHULTZ SAV O STORES
INC (TICKER: SAVO) OF SHEBOYGAN, WI.
ANNOUNCEMENT:
On Dec. 10, 1991, the reporting person acquired its stake in the issuer as a
result of the death of Gerald G. Grube. Firstar Trust Co. of Florida N.A. was
appointed personal representative of the Estate on Dec. 10, 1991.
PURPOSE: Acquisition of shares by estate.
-30- 706
FIDELITY INT'L REPORTS 4.75% OWNERSHIP OF MEDICAL CARE INTERNATIONAL
12/31/91
91365c0016  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 012
FIDELITY INTERNATIONAL LTD OF  OWNS 958,350 SHARES (4.75%) OF MEDICAL CARE
INTL INC (TICKER: MEDC) OF DALLAS, TX.
ANNOUNCEMENT:
The filer has updated its holding to accommodate the transactions effected by
its affiliate.
PURPOSE: Reports holdings.
-30- 554
MICHAEL L TENZER REPORTS 15.72% OWNERSHIP OF LEISURE TECHNOLOGY
12/31/91
91365c0015  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 002
MICHAEL L TENZER OF  OWNS 1,010,059 SHARES (15.72%) OF LEISURE TECHNOLOGY INC
(TICKER: LVX) OF LOS ANGELES, CA.
ANNOUNCEMENT:
On Dec. 16, 1991, the reporting person sold 411,100 shares in two private
transactions at $.50 per share for tax purposes. The issuer is a
debtor-in-possession seeking to reorganize under the U.S. Bankruptcy Code and
the reporting person is chairman, president, and chief executive officer of
the issuer.
PURPOSE: Sale of shares.
-30- 769
PAGE MILL ASSET MANAGEMENT REPORTS 37.20% OWNERSHIP OF INVG MORTGAGE SECURITIES
12/31/91
91365c0014  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
PAGE MILL ASSET MANAGEMENT OWNS 253,800 SHARES (37.20%) OF INVG MORTGAGE
SECURITIES CORP (TICKER: INVG) OF NEW YORK, NY.
ANNOUNCEMENT:
As of Dec. 18, 1991, the reporting persons held 253,800 common shares,
representing a 37.2 percent stake in the issuer.
PURPOSE: Reports holdings.
-30- 646
FIDELITY INT'L REPORTS 5.30% OWNERSHIP OF INT'L RECTIFIER
12/31/91
91365c0013  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 012
FIDELITY INTERNATIONAL LTD OF  OWNS 1,050,700 SHARES (5.30%) OF INTERNATIONAL
RECTIFIER CORP (TICKER: IRF) OF EL SEGUNDO, CA.
ANNOUNCEMENT: No other significant information was included.
LATEST TRANSACTION:
On Dec. 5, 1991, the reporting persons sold 25,000 shares at $11.77 per share.
On Dec. 11, 1991, the reporting persons purchased 19,950 shares at $10.06 per
share.
PURPOSE: Purchase and sale of shares.
-30- 714
WOODLAND INVESTMENT CO REPORTS 4.47% OWNERSHIP OF GREAT FALLS GAS CO
12/31/91
91365c0012  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
GROUP LED BY WOODLAND INVESTMENT CO OF GROUP LED BY IRVING, TX OWNS 48,000
SHARES (4.47%) OF GREAT FALLS GAS CO (TICKER: GFGC) OF GREAT FALLS, MT.
ANNOUNCEMENT:
As of Dec. 19, 1991, the reporting persons ceased to hold more than 5 percent
of the outstanding issuer common shares.
LATEST TRANSACTION:
On Dec. 19, 1991, the reporting persons sold 5,000 shares for $14.75 per share.
PURPOSE: Sale of shares.
-30- 724
FIDELITY INT'L REPORTS 8.68% OWNERSHIP OF COGNEX
12/31/91
91365c0011  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 011
FIDELITY INTERNATIONAL LTD OF  OWNS 359,500 SHARES (8.68%) OF COGNEX CORP
(TICKER: CGNX) OF DAVIS, CA.
ANNOUNCEMENT:
The filer has updated its holdings to accommodate the transactions effected by
its affiliate.
PURPOSE: Reports holdings.
-30- 515
FINSYSTEMS SRL ET AL REPORTS 53.50% OWNERSHIP OF CELLULAR PRODUCTS
12/31/91
91365c0010  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 002
GROUP LED BY FINSYSTEMS SRL OF GROUP LED BY  OWNS 10,140,000 SHARES (53.50%)
OF CELLULAR PRODUCTS INC (TICKER: CELP) OF BUFFALO, NY.
ANNOUNCEMENT:
As of Dec. 10, 1991, the filer reported a correction to a previous filing. The
amount of credit applied to the purchase of the 280,690 warrant shares, as
defined in the first amendment to the filing, was actually $125,625.
PURPOSE: Correction of credit amount previously reported.
-30- 736
FIDELITY INT'L REPORTS 5.50% OWNERSHIP OF BOLAR PHARMACEUTICAL
12/31/91
91365c0009  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: NONE
FIDELITY INTERNATIONAL LTD  OWNS 1,164,400 SHARES (5.50%) OF BOLAR
PHARMACEUTICAL INC (TICKER: BLR) OF COPIAGUE, NY.
ANNOUNCEMENT: No other significant information was included.
LATEST TRANSACTION:
Between Nov. 25, 1991, and Dec. 10, 1991, the filer purchased 121,100 issuer
shares at $5.50 to $6.68 per share.
PURPOSE: Acquisition of shares.
-30- 704
ERNEST NIVES REPORTS 1.90% OWNERSHIP OF AMERICAN ELECTROMEDICS
12/31/91
91365c0008  Comtex
SCHEDULE 13D
SEC - AMENDMENT NUMBER: 001
ERNEST NIVES OF NEW YORK OWNS 131,250 SHARES (1.90%) OF AMERICAN ELECTROMEDICS
CORP (TICKER: AECO) OF NY, NY.
ANNOUNCEMENT:
As of Nov. 25, 1991, the filer had sold 250,000 issuer common shares at an
unspecified price under the terms of a convertible debenture purchased in
1988. The 250,000 shares were originally issued by the company for conversion
of $25,000 of the issuer's 10% Dual convertible Subordinated Debentures.
PURPOSE: Sale of shares.
-30- 763
NASD REPORTS TRADE HALTED ON LANDMARK BANCORP
12/31/91
91365c0007  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 13:30 that trade in
Landmark Bancorp (NASDAQ: LMBC) has been halted pending news. The last sale
was 8.
-30- 387
NASD REPORTS TRADE HALTED ON TUSCON ELECTRIC POWER CO.
12/31/91
91365c0006  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 13:00 that trade in
Tuscon Electric Power Co. (NYSE: TEP) has been halted pending news.
-30- 391
NASD REPORTS TRADE RESUMED ON STERLING OPTICAL
12/31/91
91365c0005  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD has announced that trade in Sterling
Optical has been resumed. The company is listed on the New York Stock Exchange
 ticker symbol EYE. Trading was resumed at 11:58.
-30- 449
NASD REPORTS TRADE RESUMED ON ITEL CORP.
12/31/91
91365c0004  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD has announced that trade in Itel
Corp. has been resumed. The company is listed on the New York Stock Exchange,
ticker symbol ITL. Trading was resumed at 10:16.
-30- 425
NASD REPORTS TRADE RESUMED ON AIM TELEPHONE INC.
12/31/91
91365c0003  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD has announced that trade in Aim
Telephone Inc. has been resumed. The company is listed on the American Stock
Exchange, ticker symbol AIM. Trading was resumed at 10:08.
-30- 450
NASD REPORTS TRADE HALTED ON ITEL CORP.
12/31/91
91365c0002  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 9:40 that trade in Itel
Corp. has been halted because of the dissemination of news. The Company is
listed on NYSE, ticker symbol ITL.
-30- 409
NASD REPORTS TRADE HALTED ON STERLING OPTICAL
12/31/91
91365c0001  Comtex
STAMFORD, CT (DEC. 31) COMTEX - The NASD announced at 9:40 that trade in
Sterling Optical (NYSE: EYE) has been halted pending news.
-30- 369
BRUCE STARK, DIRECTOR OF SUFFOLK BANCORP., DIES
12/31/91
91365b0683  Business Wire
RIVERHEAD, NY (DEC. 31) BUSINESS WIRE - It is with great sadness that the
board of directors of Suffolk Bancorp (NASDAQ:SUBK) Tuesday announced the
passing of W. Bruce Stark on Dec. 30, 1991 in Stony Brook, N.Y.
Stark served as a director of Suffolk Bancorp since its organization in 1985
until his death yesterday, and likewise as a director of Suffolk Bancorp's
banking subsidiary and predecessor, The Suffolk County National Bank of
Riverhead, since 1980. He was a vice-president of Stark Mobile Homes Inc. in
Riverhead, N.Y.
Stark's association with Suffolk Bancorp was a long one, as is that of his
family. His father, William C. Stark, served as a director from 1942 and later
as chairman of the board until 1980 when the current chairman, Raymond A.
Mazgulski, was elected. William C. Stark was preceded as chairman by his
brother, Stark's uncle, John C. Stark. Another uncle, Walter E. Stark, also
served on the board until his death in 1963. Stark's brother, J. Douglas Stark
 is currently a director both of the bancorp and the bank.
The directors, managers, and employees of Suffolk Bancorp offer their respect
and gratitude for the guidance that Stark has provided during these many years
 and express their deepest sympathies to his family and friends. He will be
missed.
Suffolk Bancorp is a one-bank holding company engaged in the commercial
banking business through The Suffolk County National Bank, a full service
commercial bank headquartered in Riverhead. ''SCNB'' is Suffolk Bancorp's
wholly owned subsidiary. Organized in 1890, The Suffolk County National Bank
is the second largest independent bank headquartered on Long Island.
The Suffolk County National Bank maintains offices in Center Moriches,
Cutchogue, Hampton Bays, Mattituck, Medford, Riverhead, Port Jefferson,
Shoreham, Wading River and Westhampton Beach, N.Y. Suffolk Bancorp also owns
Island Computer Corp. of New York Inc., a bank data-service company located in
Bohemia, N.Y.
CONTACT: Suffolk Bancorp, Riverhead
  Edward J. Merz, 516/727-2700.
-30- 2409
MYLEX CORP. EXPECTS EARNINGS BETWEEN $8 AND $10 MILLION IN FOURTH QUARTER
12/31/91
91365b0678  Business Wire
FREMONT, CA (DEC. 31) BUSINESS WIRE - Mylex Corporation (NASDAQ, NMS: MYLX),
announced Tuesday that its revenue for the fourth quarter ending Dec. 31, 1991
 is expected to be between $8 and $10 million, which is substantially lower
than its revenue of $12.3 million for the same period in 1990.
Based upon the expected decline in sales as compared to the fourth quarter of
1990, continued pressure on gross margins, and increased overhead expenses
attributable to the Company's new facilities, the Company expects to post a
loss for the fourth quarter 1991.
The Company's President, Dr. M.A. Chowdry, explained that earnings for the
fourth quarter have been unfavorably affected by the continuing recession in
the personal computer industry and declining gross margins on mother board
products.
While the Company's newer EISA products are generating higher gross margins
than its older products, sales of the newer products have not been sufficient
to make the Company profitable this quarter. According to Dr. Chowdry, many
customers, expecting price reductions on central processing units next quarter
 are delaying their purchases of the Company's products.
Mylex plans to meet the challenges of the computer hardware market by reducing
production costs, reducing its workforce, and introducing new products for
markets not previously addressed by Mylex. While entering into new markets
involves substantial risk and expense, the Company's new advanced products for
these markets represent an effort by Mylex to take advantage of its
technological strengths.
The development of these new and advanced products is proceeding well; the
Company expects to start shipping some of these products in the first quarter
of 1992.
Mylex Corporation is a technology-based company engaged in the design,
development, production, and marketing of 80386 and EISA-based 80486
microprocessor-based boards for single and multiprocessing systems as well as
EISA-based graphic, LAN, and disk controllers.
These powerful and sophisticated hardware products are used in applications
such as LANs, multi-user systems, real-time environments, CAD/CAM, desktop
publishing, and engineering scientific workstations. The Company also provides
the necessary software support (BIOS and device drivers) for all its products.
CONTACT: Mylex Corp., Fremont
  Dr. M. A. Chowdry or Ray West, 510/796-6100
       by
 The Equity Group Inc., New York
 Robert D. Goldstein or Tamara Ehlin, 212/836-9607.
-30- 2890
KEMPER FINANCIAL CLOSED END FUNDS DECLARE MONTHLY DIVIDENDS
12/31/91
91365b0674  Business Wire
CHICAGO (DEC. 31) BUSINESS WIRE - Dividends were declared Tuesday for five of
the closed end funds managed by Kemper Financial Services Inc.
All dividends are payable Jan. 31, 1992, to shareholders of record on Jan. 15,
1992.
Kemper High Income Trust (NYSE symbol: KHI) declared a monthly dividend of
$0.08 per share.  The previously monthly dividend was $0.0875 per share.  Its
initial offering was April 21, 1988.
Kemper Intermediate Government Trust (NYSE symbol: KGT) declared a monthly
dividend of $0.0625 per share.  The previous monthly dividend was $0.0625 per
share.  Its initial offering was July 21, 1988.
Kemper Municipal Income Trust (NYSE symbol: KTF) declared a monthly dividend
of $0.0725 per share.  The previous monthly dividend was $0.0725 per share.
Its initial offering was Oct. 20, 1988.
Kemper Multi-Market Income Trust (NYSE symbol: KMM) declared a monthly
dividend of $0.09 per share.  The previous monthly dividend was $0.10 per
share.   Its initial offering was Jan. 23, 1989.
Kemper Strategic Municipal Income Trust (NYSE symbol: KSM) declared a monthly
dividend of $0.075 per share.  The previous dividend was $0.1025 per share of
capital gains.  Its initial offering was March 22, 1989.
CONTACT: Kemper Financial Services Inc., Chicago
   Steve Radis, 312/917-8393
   Martin Gawne, 312/845-1905.
-30- 1912
AMOCO MOTOR CLUB SAYS IT HANDLED 3.5 MILLION CALLS IN 1991
12/31/91
91365b0673  Business Wire
CHICAGO (DEC. 31) BUSINESS WIRE - Imagine receiving 3.5 million telephone
calls in a single year. Customer service representatives at the Amoco Motor
Club based in Des Moines handled about that many calls in 1991.
About 2.1 million of the calls were requests for emergency road service. The
representatives also received about 308,000 requests for map routing. The
highest number of map requests - about 175,000 - was received in May, and the
most popular May destination was a tie between San Diego and Norfolk, Va., as
desert storm participants returned.
The Amoco Motor Club offers services including travel benefits and discounts,
car theft protection, emergency check cashing, and travel and accident
insurance in addition to 24-hour emergency road service in all 50 states, and
map routing.
The Amoco Motor Club is a service offered by Amoco Oil Company, the refining,
marketing, and transportation subsidiary of Amoco Corporation.
CONTACT: Amoco Corporation, Chicago
  Patricia Wright, 312/856-5566
       or
  Lisa Tibbals 312/856-4745.
-30- 1406
FIRST COMMERCIAL COMPLETES ACQUISITION OF FARMERS & MERCHANTS BANK OF ROGERS
12/31/91
91365b0671  Business Wire
LITTLE ROCK, AR (DEC. 31) BUSINESS WIRE - First Commercial Corp.
(NASDAQ/NMS:FCLR) announced Tuesday that it has completed its acquisition of
Farmers and Merchants Bank (F&M) of Rogers, Ark.
FCC acquired all F&M shares held by Lynxx Banking Corp., which owns over 99
percent of the outstanding F&M shares, in exchange for a cash payment of
$13.23 million. Lynxx is a second tier subsidiary of United Federal Savings
and Loan Association, F.A., Jonesboro, Ark., which is currently in
conservatorship with the Resolution Trust Corp. as its Conservator.
F&M has approximately $90 million in total assets. In addition to its main
office, F&M has two branches in Rogers and is that community's second largest
commercial bank. This acquisition represents FCC's first expansion into the
attractive northwest Arkansas market. It also brings the number of FCC
affiliate banks in Arkansas to nine and the total number of FCC affiliate
banks to eleven.
CONTACT: First Commercial Corp., Little Rock
  William Garner, 501/371-7088.
-30- 1454
MESA LTD PARTNERSHIP ANNOUNCES CONVERSION FROM PARTNERSHIP TO CORPORATE FORM
12/31/91
91365b0667  Business Wire
DALLAS (DEC. 31) BUSINESS WIRE - Mesa Limited Partnership announced that it
has completed its conversion from partnership to corporate form effective
Tuesday, Dec. 31.
Giving effect to the one-for-one exchange ratio for common units, the
1.35-for-one exchange ratio for the preference units, and the one-for-five
reverse stock split, each common unit received .2 shares and each preference
unit received .27 shares of new common stock.
The new shares of MESA Inc. common stock will begin trading on the New York
Stock Exchange on Thursday, Jan. 2, 1992.  The new ticker symbol is MXP.
Tuesday is the last day of trading MLP Common and Preference A units.
MESA's exchange agent, American Stock Transfer Co., will begin mailing
documents to holders of record to exchange stock certificates for unit
certificates shortly.  In the interim, certificates formerly representing
partnership units will represent the right to exchange partnership units for
shares of MESA Inc. common stock in the ratios described above.
Earlier Tuesday the Delaware Chancery Court denied a request by certain
preference unitholders seeking a temporary restraining order against
consummation of the transaction.
The ruling by the Chancery Court rejected challenges by plaintiff attorneys to
the final tabulation of the favorable majority votes of the Common and
Preference unitholders as certified by KPMG Peat Marwick, the independent
election judge for the Dec. 12 special meeting.
CONTACT: Mesa Limited Partnership Inc., Dallas
   Jay Rosser, 214/969-2219.
-30- 1900
FIRST AUSTRALIA PRIME INCOME FUND MONTHLY UPDATE FOR DECEMBER
12/31/91
91365b0661  Business Wire
NEW YORK (DEC. 31) BUSINESS WIRE - The Australian bond market has enjoyed
returns over the last 18 months with interest rates falling against the
background of a government policy-induced recession. The most widely accepted
benchmark, the Commonwealth Bank Bond Index, has returned 23 percent over the
year to Nov. 30, 1991, (in Australian dollars).
The Australian dollar increased 0.5 percent during the month of November to US
$0.7825. The strength of the Australian dollar was mainly due to a weaker US
dollar.
As anticipated, the Federal Reserve Bank of Australia eased monetary policy by
1 percent in early November, bringing cash rates to 8.5 percent. Despite the
dramatic reduction of cash rates from 18.5 percent since January 1990,
economic statistics released during the month continue to suggest economic
weakness. As a result, a further easing of monetary policy should be factored
into the market in early 1992.
Yields on long term bonds remained relatively unchanged over the month, with
ten year government bonds at about 9.8 percent. The positive inflation outlook
has made longer term instruments attractive to Australian and overseas
investors in recent months. Despite expectations of a stronger economy in 1992
 the inflation rate should be in a 3.5 percent to 4 percent range.
Thus, the overall outlook for Australian bonds remains positive and solid
returns are anticipated over the coming months.
Performance Update
                        11/30/91         10/31/91           9/30/91
NAV                      $ 11.39          $ 11.31           $ 11.33
Market Price             $ 11.13          $ 11.00           $ 10.94
                         -------          -------           -------
Premium/Discount     -2.28 percent    -2.74 percent     -3.44 percent
Investment quality     Rating           Australia             U.S.
     AAA            61.2 percent       100 percent
     AA             35.6 percent
     A               3.2 percent
                                          -----              ----
                                       100 percent         100 percent
Amount        Payable Date        Record Date        Declaration Date
$0.09         12/13/91             11/29/91           11/18/91
The First Australia Prime Income Fund Inc. is a non-diversified, closed-end
management investment company whose investment objective is to achieve current
income through investment primarily in Australian debt securities.
CONTACT: The First Australia Prime Income Fund Inc., New York
  212/214-3332.
-30- 3009
THE FIRST AUSTRALIA FUND DECEMBER 1991 MONTHLY UPDATE
12/31/91
91365b0660  Business Wire
NEW YORK (DEC. 31) BUSINESS WIRE - Despite a continuing recession in the
Australian economy, share prices have performed well throughout 1991. The All
Ordinaries Price Index has increased by some 25 percent, but is still more
than 30 percent below its 1987 peak.
The Australian dollar increased 0.5 percent during the month of November to
U.S. $0.7825.  The Strength of the Australian dollar was mainly due to a
weaker U.S. dollar.
As anticipated, the Reserve Bank of Australia eased monetary policy by 1.0
percent in early November, bringing cash rate to 8.5 percent.  Despite the
dramatic reduction of cash rates from 18.5 percent since January 1990,
economic statistics released during the month continue to indicate economic
weakness.  As a result, a further easing of monetary policy should be factored
into the market in early 1992.
The bond market remained relatively unchanged over the month. Despite
expectations of a stronger economy in 1992, the inflation rate should be in a
3.5 percent to 4.0 percent range.
The stock market outlook is extremely positive as monetary and fiscal policies
are growth oriented; corporate margins, money supply growth and resource
prices are at cyclical lows, and hence the opportunity for capital gain is
excellent.  The recent pullback, in line with the rise of the Dow Jones,
presented excellent buying opportunities which the Manager is using to
increase the already high equity weighting of the First Australia Fund.
Profit-taking after rallying last week due to the rise in the Australian
dollar, has put pressure on the market.  The reporting season is in full swing
with most reports in line with estimates.
The Australian dollar has gained significantly against a weaker U.S. Dollar
with the Australian dollar pushing U.S. $0.79.
  Portfolio Composition (as of October 31, 1991)
Equities                92.8% Fixed Interest           5.2%
Cash                     2.0%
   Performance Update
                 11/30/91       10/31/91      9/30/91
NAV per share      $10.61         $11.03       $10.44
Price per share    $ 9.50         $ 9.75       $ 9.25
         ------         ------       -------
Premium/Discount   -10.46%        -11.60%      -11.40%
The First Australian Inc. Fund is a closed-end management investment company
whose objective is long term capital appreciation through investment primarily
in equity securities of Australian companies listed on the Australian stock
exchanges.
The Fund's secondary investment objective is current income.  The Fund's
Investment Manager is Equitilink International Management Limited.  The
administrator for the Fund is Prudential Securities Inc. Additional
information on the Fund's assets and performance is contained in the Fund's
Annual report dated Oct. 31, 1991.  For further information on the fund call
212/214-3332.
CONTACT: The First Australia Fund Inc., New York
   212/214-3332.
-30- 3393
GLOBAL GOVERNMENT PLUS FUND DECEMBER 1991 MONTHLY UPDATE
12/31/91
91365b0658  Business Wire
NEW YORK (DEC. 31) BUSINESS WIRE - The Global Government Plus Fund Inc.
December 1991 Monthly Update.
             Market Review
o  We remain negative on the dollar versus the European currencies in light of
weak U.S. economic fundamentals.  The Fund was profitable by November month
end, given the U.S. dollars's sharp fall.  The Fund has increased its European
exposure to 40 percent of the portfolio following a technical market
correction, which offered a great selling opportunity.
o  We remain positive on global bonds and have maintained the majority of our
bond holdings in Europe.  We view the recent back up in bond yields as
temporary and expect interest rates to continue their downtrend in early 1992.
o  Economic growth continues to be sluggish around the world and inflation
continues to moderate.  This is an excellent environment for bonds.
o  The continued barrage of weak economic data suggests that the Federal
Reserve will continue to ease monetary policy.  The Federal Reserve cut the
Federal Funds Rate 1/4 percent to 4-1/2 percent early in December following an
extremely weak November U.S. employment release.
o  The strong economic activity which surfaced in the second quarter 1991
appears to have been an aberration as current weakness in exports is
constraining growth.  Growth has slackened in both the manufacturing and
service sectors, although activity remains above the recession's trough which
occurred in March of this year.
o  The Canadian dollar has come under pressure in recent weeks, following a 31
basis point drop in the key lending rate in November.
o  The German mark has gained strength against most other currencies within
the EMS because of some possibility that interest rates could rise if
inflation doesn't moderate.
o  The French raised their official intervention rate 1/2 percent due to
weakness of the French franc against the deutschemark, literally erasing the
two 1/4 eases of 1991.  The repo rate was also raised 1/4 percent to 10
percent.  The hike in interest rates has relieved the French franc of
devaluation rumors.
o  In Australia interest rates were cut 1 percent in November as a result of
continued improvement in inflation.  The currency has been held in a range
despite the interest rate cut because of lower U.S. interest rates and a
falling U.S. dollar.
   Portfolio Composition (As of Nov. 29, 1991)
            Security        Currency
Country               Exposure        Exposure      Duration
U.S.                   17.7 pct.      60.1 pct.       8.03 pct.
Canada                 14.3           14.2            8.92
U.K.                   13.6            7.9            6.22
Germany                 0.0          (30.4)           0.00
France                 13.4           13.4           10.40
Finland                 4.7            3.6            4.18
Denmark                 5.8            5.8            4.61
Spain                   6.3            6.3            3.79
Italy                   5.0            5.0            0.52
Sweden                  4.6            4.6            3.75
Australia               9.3            4.2            4.32
New Zealand             5.3            5.3            6.64
                      -----          -----
Total                 100.0 pct.     100.0 pct.       6.58 -0-
                Performance Update
            11/29/91         10/31/91        9/30/91
NAV per share          $ 7.96           $ 7.78          $ 7.78
Price per share        $ 7.38           $ 7.63          $ 7.50
            -------          -------         --------
Premium/Discount        -7.29 pct.       -1.92 pct.      -3.60 pct.
The Global Government Plus Fund Inc., is a closed-end investment company that
invests in debt securities issued or guaranteed by governments,
semi-governmental entities, government agencies, supranational entities and
other government entities in the United States and 20 other major countries
and denominated in the currencies of such countries.
The Fund's Manager is Prudential Mutual Fund Management Inc., and investment
advisory services are provided by The Prudential Investment Corp.
Additional information on the Fund's assets and performance is contained in
the semi-annual Report for the six months ended June 30, 1991.  For further
information on the Fund, call 212/214-3332.
CONTACT:  The Global Government Plus Fund Inc., New York
    212/214-3332.
-30- 4997
QUANTUM CHEMICAL RECEIVES AMENDMENT TO BANK CREDIT AGREEMENT
12/31/91
91365b0657  Business Wire
NEW YORK (DEC. 31) BUSINESS WIRE - Quantum Chemical Corp. Tuesday announced
it has received an amendment to its bank credit agreement.
The amendment became effective Dec. 31, 1991.
The amendment revises certain covenants in the credit agreement, including the
interest coverage and net worth tests for which the company had previously
received waivers from its bank group.  In connection with the amendment, the
company granted the bank group a security interest in the domestic inventory
of its USI Division under the company's $75 million ESOP loan facility.
Quantum Chemical Corp. (NYSE:CUE) is headquartered in New York City.
Quantum's USI Division is the nation's largest polyethylene producer and its
Suburban Propane Division is a leading marketer of propane.
CONTACT: Quantum Chemical Corp., New York
   Arden D. Melick, 212/551-0438 (media), or
   Joseph F. Pilaro, 212/551-0552 (analysts).
-30- 1224
COLONIAL COMPANIES DECLARES REGULAR QUARTERLY DIVIDEND OF 18 CENTS PER SHARE
12/31/91
91365b0653  Business Wire
COLUMBIA, SC (DEC. 31) BUSINESS WIRE - Colonial Companies Inc.
(NASDAQ/NMS:CLACB) Tuesday announced that the board of directors has declared
a regular quarterly cash dividend on both Class A and Class B common stock of
18 cents per share, payable Jan. 31, 1992, to stockholders of record as of the
close of business on Jan. 10, 1992.
Colonial Companies Inc., is a holding company whose shares are traded on the
National Market System with the NASDAQ symbol CLACB. Its principal subsidiary
is Colonial Life & Accident Insurance Co., which operates in 49 states and
underwrites a broad line of personal accident, life, and cancer insurance
policies.
CONTACT:  Colonial Companies Inc., Columbia
    David A. Halmrast, 803/798-7000.
-30- 1074
VALLEY FORGE SCIENTIFIC REPORTS NET LOSS OF $73,253 FOR FOURTH QUARTER
12/31/91
91365b0652  Business Wire
VALLEY FORGE, PA (DEC. 31) BUSINESS WIRE - Valley Forge Scientific Corp.
(NASDAQ: VLFG, VLFGW) (BSE: VLF, VLFW) Tuesday announced operating results for
the fourth quarter and fiscal year ended Sept. 30.
Sales for 1991 were 26 percent less than sales for 1990.  These sales decrease
resulted from reduced shipments of products to Codman & Shurtleff due to
timing differences in the purchasing practices of Codman & Shurtleff and to
allow them to lower their inventory of the CMC-II bipolar systems prior to the
introduction of the CMC-III bipolar system into the neurosurgery market.
The company's gross profit margin was 57 percent for 1991 as compared to gross
profit margin of 62 percent, for 1990.  Selling general and administrative
expenses increased by 16 percent in 1991 as compared to the amounts for 1990
in order to support increased general and administration costs to support
future growth of the company's operations and the increased costs of being a
public corporation for a full year.  The amount of such expenses are not
anticipated to increase in 1992.
The company's High Power Bipolar Electrosurgical System CMC-III and its
disposable cord tubing set were introduced into the neurosurgery market by
Codman and Shurtleff in October 1991.  The company is negotiating with
international distributors and manufacturers of medical products to sell the
high power bipolar eletrosurgical system and related instruments in the
general and laparoscopic surgical markets.
The company anticipates commencing sales in the general and laparoscopic
markets in 1992.
Valley Forge Scientific Corp., develops and manufactures medical devices and
products which allow the hospital surgical and health care communities to
perform procedures with greater control, safety and precision.
               Valley Forge Scientific Corp.
                   Financial Highlights
                      Three Months Ended          Twelve Months Ended
                             Sept. 30,                  Sept. 30,
                         1991         1990          1991         1990
Sales               $ 336,386    $ 515,212    $1,330,508  $ 1,778,851
Operating income
(loss)              $ (77,663)   $  16,956    $ (304,087) $   173,452
Net income (loss)   $ (73,253)   $  27,872    $ (274,695) $   217,458
Primary earnings
per share (loss)    $   (.009)   $    .004    $    (.035) $      .031
Fully diluted  earnings (loss)
per share           $   (.009)   $    .004    $    (.034) $      .030
Primary common
shares outstanding  8,057,111    7,353,990    7,951,249    6,965,140
Fully diluted common
shares outstanding  8,096,299    7,353,990    8,064,430    7,199,233
CONTACT: Valley Forge Scientific Corp., Valley Forge
   Jerry L. Malis, 215/666-7500
                by
   L.G. Zangani Inc., Flemington, N.J.
   Leonardo G. Zangani, 908/788-9660.
-30- 3321
VALITEK CUTS PRICES ON PORTABLE PARALLEL-PORT TAPE BACKUP SYSTEMS FOR IBM
12/31/91
91365b0648  Business Wire
AMHERST, MA (DEC. 31) BUSINESS WIRE - Valitek, the leading supplier of
portable, parallel-port based tape backup systems for IBM and compatible
personal computers, today reduced the prices of its products by up to $200.
The list price of the 60-Mbyte PST-60 was reduced $100 to $1,595. The
160-Mbyte PST-160's price was reduced $150 to $1,895, and the 250-Mbyte PST-
250 was reduced $200 to $2,095.  The new prices include Valitek's own backup
software, a 30-day money-back guarantee, and a one-year parts and labor
warranty.  The prices are effective immediately.
''Our volume has grown dramatically, we have increased our efficiency, and
reduced our manufacturing costs,'' said John Warriner, Valitek's president.
''We are passing these savings on to our customers.''
Valitek's portable tape backup systems work through a personal computer's
parallel or serial port.  This eliminates the need for a controller card in
computers that are being backed up, and enables a user to simply plug in the
Valitek, and back up any of the files on the computer.  Valitek's software
occupies a single 360 Kbyte diskette, so a user can run the software from the
diskette or load it on systems' hard disks.  The company's software license
permits users to load the Valitek software on any number of computers without
additional charges.
Valitek systems are most widely used by organizations that have multiple PCs,
either standalone or connected in a local area network, or that have laptop
computers.  The Valitek systems assure valid backups by using high-reliability
 read-after-write tape heads, which spot and correct data errors while the
data is being recorded. Valitek tape systems also eliminate time-consuming
tape formatting.
Valitek, which is two years old, first demonstrated its product in June, 1989.
 The company estimates it will have 1992 sales of more than $7 million.
Valitek sells its products through a network of over 400 dealers in the United
States and distributors worldwide.
CONTACT:  Geithner/McGowan
   Edgar E. Geithner, 508/875-3821
                  or
   Valitek, Amherst
   Bill Kenney, 800 VALITEK.
-30- 2551
SUPER FOODS REPORTS NET INCOME OF $2.47 MILLION FOR FIRST QUARTER
12/31/91
91365b0647  Business Wire
DAYTON, OH (DEC. 31) BUSINESS WIRE - Super Food Services Inc. (NYSE:SFS)
Tuesday announced sales and earnings for the first 12 weeks of fiscal 1992
ending Nov. 23, 1991.
Super Food Services, one of the country's largest publicly-owned, voluntary
food wholesalers reported net sales of $440,616,587 compared with $424,411,734
in the first 12 weeks of fiscal 1991 or an increase of four percent.
This increase in sales reflects the acquisition of the Lexington division in
late fiscal 1991.  Excluding the sales from Lexington division, fiscal 1992
sales from other divisions declined from fiscal 1991 levels.
Net income for the first 12 weeks was $2,478,146 or 23 cents per common share
vs. $3,400,860 or 32 cents per common share last  year.
Jack Twyman, chairman of the board and CEO said, ''Sales and earnings continue
to be adversely affected by economic conditions throughout all of our
marketing areas.  As previously announced, the company is in the process of
negotiating the sale of its Florida division to Albertsons Inc.  This
transaction is expected to be completed by March 1, 1992.''
On Dec. 10, 1991, the company's board of directors approved the regular
quarterly dividend of eight and one half cents (8.5 cents) per share payable
March 15, 1992 to shareholders of record Feb. 20, 1992.
Super Foods is a full-service wholesaler which distributes a complete line of
food and non-food products to over 950 supermarkets in Ohio, Michigan, Indiana
 Kentucky, Tennessee, West Virginia and Florida.
Super Food Service (SFS) is listed on the New York Stock  Exchange.
CONTACT:  Super Foods, Dayton
    Robert Koogler, 513/439-7500.
-30- 2026
HILB, ROGAL AND HAMILTON SELLS JACKSON, MICHIGAN OFFICE TO WALTON AGENCY
12/31/91
91365b0646  Business Wire
RICHMOND, VA (DEC. 31) BUSINESS WIRE - Robert H. Hilb, president of Hilb,
Rogal and Hamilton Co. (NASDAQ: HRHC) announced Tuesday that the company has
sold substantially all of the assets of its Jackson, Mich. office to Walton
Agency Inc., also of Jackson.
Terms were not disclosed.
Hilb, Rogal and Hamilton Co. provides insurance agency services to a wide
variety of clients through its network of wholly-owned subsidiaries which
operate 47 insurance agencies in 20 states and in the District of Columbia.
The company is traded on the NASDAQ National Market System, symbol HRHC.
CONTACT: Hilb, Rogal and Hamilton Co., Richmond
  Robert H. Hilb, 804/747-6500.
-30- 998
HOOPER HOLMES ANNOUNCES KEY MANAGEMENT CHANGES
12/31/91
91365b0641  Business Wire
BASKING RIDGE, NJ (DEC. 31) BUSINESS WIRE - Hooper Holmes Inc.,(AMEX:HH) the
nationwide healthcare and health information company headquartered in Basking
Ridge, announced Tuesday key management appointments.
Paul W. Kolacki, senior vice president, has been elected executive vice
president of the company and appointed to the position of chief operating
officer of the company's PORTAMEDIC Health Information Services Division.
Initially, Kolacki will have total responsibility for all PORTAMEDIC field
operations, encompassing some 115 branch offices.
Kolacki, currently located in Buffalo, N.Y. and a 27 year HHI veteran with
extensive operations experience, will be domiciled in Basking Ridge, reporting
directly to James M. McNamee, president and CEO.
Additionally, the company announced the hiring and appointment of Mark A.
Creveling to the position of senior vice president, corporate planning and
business development.  Creveling's responsibilities will include the
coordination of all corporate marketing and sales activities related to the
new systems and technology opportunities that exist for HHI in the foreseeable
future.  He will also be responsible for coordinating the transfer of new
technologies to the company's operating divisions.
Over that last twenty years, prior to joining Hooper Holmes, Creveling has
served as executive vice president of IMT Data Systems, director of corporate
ventures for MDS Health Group, and senior vice president of Home Office
Reference Laboratory.
Creveling will be domiciled in Buffalo, reporting directly to McNamee as well.
CONTACT: Hooper Holmes Inc., Basking Ridge
   Fred Lash, 908/766-5000.
-30- 2056
MARCOR RESORTS SELLS REAL ESTATE DIVISION AND NON-RIO REAL ESTATE HOLDINGS
12/31/91
91365b0635  Business Wire
LAS VEGAS, NV (DEC. 31) BUSINESS WIRE - MarCor Resorts, Inc. (MAAR/NASDAQ)
announced today that on December 30, 1991, it sold its commercial real estate
operations and all non-Rio real estate holdings and as a result will
concentrate all of its attention on the Rio Hotel & Casino.
MarCor's real estate operations and holdings were sold to Focus 2000, Inc., a
private company controlled by MarCor Chairman of the Board and 42 percent
stockholder Anthony A.  Marnell II.
The transaction, approved by the Company's independent directors, was valued
at $25.8 million, and MarCor projects that as a result the transaction will
increase stockholders' equity by approximately $7.0 million.  The sale
relieved MarCor of $19.4 million in debt owed to Marnell-controlled affiliates
and $6.4 million in debt owed to other third parties.
MarCor sold the 125-acre ''Old Vegas'' site and its 65 percent interest in the
40-acre MarCor Green Valley site, both located in Henderson, a Las Vegas
suburb.  MarCor also sold a 5-acre warehouse site and 9.6 acres of undeveloped
land, as well as MarCor's 56 percent interest in ''The Cannery'' retail center
 all of which are in Las Vegas.  In addition to realizing market value for the
properties, MarCor obtained the right, subject to specific limitations and
other considerations, to participate in potential profits from the future
sales of the properties by Focus 2000, Inc.
The Company also announced that MarCor's Board of Directors will submit to the
1992 Annual Meeting of Stockholders a proposal to change MarCor's name to
''Rio Hotel & Casino, Inc.''  If approved, the name change would become
effective following the stockholders meeting currently scheduled for June 6,
1992.
MarCor Chairman Anthony A.  Marnell II stated, ''The future of the Company is
directly related to the Rio Hotel & Casino's continued growth.  This
transaction affords the Company an excellent debt to equity ratio of almost
one-to-one which, with the Rio's projected profitable results for 1991,
positions the Rio for expansion as proposed under the original master plan.
''As of December 31, 1991, the Company will have approximately $56.8 million
of debt compared to $82.3 million of debt at September 30, 1991.  Based on
projected 1991 results at the Rio, we are optimistic that existing cash flow
will not only service the present debt but will also provide a strong support
for reasonable additional borrowings to increase the Rio's room base.
''Not only did the Company sell its real estate holdings at a profit, but it
will also have the opportunity to participate in further increases in value as
the real estate market improves.''
MarCor Resorts, Inc.  is the 95.75 percent owner and operator of the Rio Suite
Hotel & Casino.  The Rio, located on a 44-acre site in Las Vegas, is an
all-suite hotel-casino containing 424 suites and a 44,000 square foot casino.
CONTACT: MarCor Resorts Inc., Las Vegas
   James A. Barrett, Jr., 702/739-0173.
-30- 3461
GIANT GROUP KEYSTONE CEMENT GRANTED PERMIT FOR STORAGE OF HAZARDOUS WASTE
12/31/91
91365b0631  Business Wire
BATH, PN (DEC. 31) BUSINESS WIRE - Giant Group Ltd., (NYSE:GPO) announced
that the Pennsylvania Department of Environmental Resources has issued
Keystone Cement Co., a wholly owned subsidiary of Giant Group Ltd., a Resource
Conservation and Recovery Act (RCRA) Part B permit for the storage, management
and beneficial use of hazardous waste at its facilities in Bath.
Concurrently with the issuance of Keystone's Part B permit, the Pennsylvania
DER also issued Keystone Pennsylvania Air Quality Plan Approvals for the
burning of waste fuels in place of coal in its two cement kilns.
These permits make Keystone the only fully state permitted commercial
hazardous waste storage facility, authorized to utilize hazardous waste fuel,
in Pennsylvania.
Keystone has been storing and burning liquid waste fuels under RCRA interim
status since 1976.  The new permit and plan approvals will allow Keystone to
store and burn a much wider variety of liquid waste fuels, as well as allow
Keystone to burn solid waste fuels, including K-048 through K-052, petroleum
refinery wastes.  Keystone will be allowed to substitute waste for up to 100
percent of its fuel requirements, versus 50 percent under interim status.
The Permit allows Keystone to store 273,000 gallons of liquid waste fuel and
800 tons of solid waste fuel.  Keystone previously was allowed to store 93,000
gallons of hazardous liquid fuel and no hazardous solid fuel.  Keystone will
be allowed to store and burn wastes manifested under 58 different EPA waste
codes versus the two codes (F003 and F005) previously allowed.
The Part B permit was issued for a term of 10 years and will allow Keystone to
significantly reduce its fuel costs after completion of the facilities
permitted.  A portion of the fuel costs benefits will be realized prior to the
construction of new facilities, through utilization of existing facilities,
for a greater variety and larger volume of waste fuels.
Use of liquid and solid waste fuels is a highly regulated, environmentally
sound method of managing and recycling hazardous waste. Cement Kiln recycling
is both safe for the public and protective of the environment.  Keystone's
resource recovery program uses select wastes, which are societal problems, to
manufacture a socially useful product - cement.
Keystone has 30 days to evaluate whether any conditions or terms of the permit
or plan approvals should be appealed by the company. One condition, referring
to a proposed future DER Policy involving risk assessments, will most likely
be appealed by the company as the policy does not yet exist, and the company
must preserve its rights to contest the policy once adopted by the DER, if
necessary.
Other terms and conditions of the permit will be evaluated by the company
within the 30 day deadline for filing an appeal to the Pennsylvania
Environmental Hearing Board.  These permit actions of the Department may be
appealed to the Environmental Hearing Board by any aggrieved person.
Giant Group Ltd. owns Keystone Cement Co. and Giant Cement Co., who
manufacture and sell cement products in southeastern, northeastern, and middle
atlantic regions of the United States.  Giant is a pioneer in the Resource
Recovery burning of waste materials.
Giant also owns 44% of Rally's Inc. (NASDAQ-RLLY).  Rally's is the fastest
growing hamburger chain in America and operates or franchises 329
drive-through fast-service hamburger restaurants in 23 states.
CONTACT: Giant Group Ltd, Bath
   Burt Sugarman, 213/273-5678.
-30- 4133
PORTA SYSTEMS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE ASTER CORP.
12/31/91
91365b0630  Business Wire
SYOSSET, NY (DEC. 31) BUSINESS WIRE - Porta Systems Corp. (ASE-PSI) announced
Tuesday that it had entered into a definitive agreement for the previously
announced acquisition of Aster Corporation, a Milford, Massachusetts-based
manufacturer of fiber optic couplers, wave division multiplexers (WDMs) and
fiber route protection systems.
"Aster's fiber optic products provide a unique complement to our current
product offering," commented Porta Systems' Chairman and Chief Executive
Officer, Vincent F. Santulli.  "Aster's products will serve to broaden our
capabilities in providing full system solutions to our fiber optic customers
as well as allow Porta Systems increased visibility in the fiber-to-the-home
market." Aster maintains an international manufacturing, sales and marketing
subsidiary in Limerick, Ireland.  Aster's primary customers are long distance
telecommunication  carriers, CATV operators, and fiber-to-the-home systems
integrators.
In consideration of the acquisition, Porta Systems will deliver 6,250 shares
of Porta Systems Common Stock, subject to adjustment based upon the market
value of Porta Systems Common Stock at the closing date, warrants to purchase
331,250 shares of Porta Systems Common Stock and $250,000 in cash.  The
warrants will become exercisable in April 1993 and will have an exercise price
based upon the fair market value of Porta Systems Common Stock at that time,
subject to certain discounts if certain sales objectives are met during 1992.
The acquisition remains subject to a number of conditions, including approval
of the shareholders of Aster.
Porta Systems Corp., a leader in line technology for over 20 years, designs
and manufactures telecommunications equipment used in the connection,
protection, and testing of copper and fiber telecommunications and data
communications lines and facilities.
CONTACT: Porta Systems Corp., Syosset
   Robert K. Bennett, 516/364-9300
       or
   ECOM/KCS&A, New York
   Robert Frost, 212/682-6300.
-30- 2327
AIM TELEPHONES ANNOUNCES UNSUCCESSFUL END TO DEBT RESTRUCTURING EFFORTS
12/31/91
91365b0629  Business Wire
HAUPPAUGE, NY (DEC. 31) BUSINESS WIRE - AIM Telephones, Inc. (AMEX: AIM), one
of the largest telephone interconnect companies in the United States,
announced Tuesday that its efforts to restructure its long-term debt,
amounting to approximately $18 million, had been unsuccessful and that its
banks had accelerated payment of their loans.
The Company is continuing to operate and will be exploring with its banks the
steps that can be taken to maximize the value of the Company.
The Company is not in compliance with American Stock Exchange continued
listing requirements and cannot give any assurance that the listing will be
continued.
AIM Telephones designs, sells, installs and services PBX and key telephone
systems, voice mail, automated attendants and automatic call distributors.  It
also sells a broad range of network services under sales agency agreements
with several of the Regional Bell Operating Companies.
CONTACT:  AIM Telephones Inc.,
    Henry E. Zorn, 201/515-9400 ext. 225
                   or
    Bliss, Barefoot & Associates, New York
    Abby Gouverneur, 212/840-1661.
-30- 1373
VITAL SIGNS AND BIOMEDICAL DYNAMICS SIGNS DEFINITIVE MERGER AGREEMENT
12/31/91
91365b0628  Business Wire
TOTOWA, NJ/MINNEAPOLIS (DEC. 31) BUSINESS WIRE - Vital Signs Inc.
(NASDAQ:VITL) and Biomedical Dynamics Corp. (NASDAQ:BDMC) announced Tuesday
that they have executed a definitive agreement providing for Vital Signs to
acquire Biomedical Dynamics.
In the proposed transaction, Biomedical Dynamics would become a wholly owned
subsidiary of Vital Signs in a pooling of interests transaction based on an
exchange ratio of 0.359 of a share of Vital Signs' common stock for each
outstanding share of Biomedical Dynamics common stock (not including
unexercised rights to buy Biomedical Dynamics shares).
Approximately 1.7 million shares of Vital Signs' common stock will be issuable
in the proposed transaction, based on the average trading price of Vital
Signs' common stock of between $20-7/8 and $26 per share.  Closing of the
transaction is expected to take place in March or April 1992.  This previously
announced transaction is subject to shareholder approval and other standard
conditions.
Terry Wall, president and chief executive officer of Vital Signs, stated: ''We
are excited about the opportunities that this acquisition presents to us.  We
hope to complete this process as expeditiously as possible.''
Joseph A. Marino, president and chief executive officer of Biomedical Dynamics
 added: ''We remain convinced that the addition of Vital Signs' capital, sales
force and business acumen to our own product lines and capacities will produce
a very powerful combination. As shareholders of the combined company, our
shareholders should benefit substantially from this transaction.''
Vital Signs Inc. designs, manufactures and markets single patient use medical
products for anesthesia, respiratory and related critical care applications.
Biomedical Dynamics Corp. develops, manufactures and markets disposable
medical products used in critical patient care.
CONTACT: Vital Signs Inc., Totowa
   Terence D. Wall, 201/790-1330
         or
   Biomedical Dynamics Corp., Minneapolis
   Joseph A. Marino, 612/894-7523
         or
   Albert Frank-Gunther Law Inc., New York
   Linda J. Greene, 212/612-1405.
-30- 2549
TEVA PHARMACEUTICAL RECEIVES FDA APPROVAL FOR GENERIC VERSION OF LIDEX
12/31/91
91365b0624  Business Wire
JERUSALEM, ISRAEL (DEC. 31) BUSINESS WIRE - Teva Pharmaceutical Industries
Limited (NASDAQ:TEVIY) announced Tuesday that its U.S. subsidiary, Lemmon
Company, Sellersville, PA, has received approval from the U.S. Food and Drug
Administration to manufacture and market Fluocinonide Ointment, a generic
version of a topical anti-inflammatory drug currently manufactured and
marketed in the U.S. by Syntex, under the brand name Lidex.
Lemmon is the first U.S. generic drug manufacturer to receive approval for an
ANDA for this product.  With the FDA's approval of this pharmaceutical in
ointment dosage form, Lemmon now becomes the first generic drug manufacturer
to offer fluocinonide in all five dosage forms--cream, cream E, gel, topical
solution and ointment.
Lemmon currently has generic drug applications pending before the FDA for
thirty-one different pharmaceutical products, including eight products as to
which the Company has already had pre-approval inspections.
According to Eli Hurvitz, President and Chief Executive Officer, Teva
Pharmaceutical Industries Limited, "We are very pleased and encouraged by
Lemmon Company's receipt of this FDA approval.  It is the first time in more
than twenty-four months that Lemmon has been granted approval to manufacture a
new generic drug, and with seven more already having undergone pre-approval
inspection, we hope that we will receive additional new generic drug approvals
in the coming year."
Mr. Hurvitz said that he expects this new fluocinonide dosage form approval to
have a significant impact on Lemmon's profitability in 1992.
Teva Pharmaceutical Industries Limited develops, manufactures and markets
human pharmaceuticals, pharmaceutical chemicals, medical disposables,
veterinary products, baking yeast and alcohol.  The largest supplier of such
products to Israel's public and private healthcare markets, the Company has
manufacturing facilities in Israel, Western Europe and the United States and
almost 50 percent of its sales are outside of Israel.
Note: Lidex is a trademark brand of Syntex.
CONTACT: Teva Pharmaceutical Industries, Ltd., Jerusalem
   Dan Suesskind, 011/972-2-892-811
           bu
   Investor Access Corp., New York
   Donna N. Stein, 212/692-9060.
-30- 2716
MARSAM PHARMACEUTICALS ANNOUNCES FDA APPROVAL OF METHOCARBOMAL INJECTION USP
12/31/91
91365b0616  Business Wire
CHERRY HILL, NJ (DEC. 31) BUSINESS WIRE - Marvin Samson, president and chief
executive officer of Marsam Pharmaceuticals Inc. (NASDAQ:MSAM) announced that
the company received Food and Drug Administration approval to market
Methocarbamol Injection USP.
Methocarbamol Injection is currently sold under the brand name Robaxin
Injectable (A.H. Robins Co. Inc.)  The company's generic version will be
marketed under the ''Geneva Marsam'' label.
Marsam Pharmaceuticals Inc. develops and manufactures injectable drug products
for the hospital and institutional market.  Marsam's products are sold under
the Geneva Marsam label through an agreement with Geneva Pharmaceuticals Inc.,
a leading developer, manufacturer and distributor of quality generic
pharmaceutical products.
Geneva Pharmaceuticals is a subsidiary of CIBA-GEIGY Corp.
CONTACT:  Marsam Pharmaceuticals Inc., Cherry Hill
    Judith U. Arnoff, 609/424-5600.
-30- 1354
INFORMATION SYSTEMS HURTLE TOWARD A "NEW ORDER" IN 1992
12/31/91
91365b0606  Business Wire
FRAMINGHAM, MA (DEC. 31) BUSINESS WIRE - The new year will be a critical
turning point for the information technology industry, according to a team of
research experts and technology watchers at Technology Investment Strategies
Corp. (TISC) headed by Kavin W. Moody, senior vice president.
Every year the TISC team gazes into its crystal ball.  Here are a few key
thematic predictions for 1992.
-- Big Brother is waiting to pounce.  Unless corporations address growing
public concern about ethical issues concerning data collection and technology
applications, the nation's lawmakers will step in -- and probably make matters
worse.
-- ''Industrial-strength'' PC/LAN software tools will finally arrive.  They'll
make possible powerful new ''serious'' applications for PCs, workstations and
local area networks.  After almost a decade of hype, client/server
applications will come into their own as corporations shift en masse away from
mainframes and centralized controls, creating confusion for both suppliers and
vendors.
-- The bell has tolled for proprietary systems.  An ongoing user revolt will
push vendors who have practiced open systems lip service toward standards as a
survival strategy.  The result?  The industry will be stood on its head,
prices will plunge, old relationships will go down the tubes, new ones will
take their place.
-- Look for ''odd'' behavior from suppliers desperately trying to respond to
the changing rules of the IT industry.  For instance, IBM will plunge into the
mail-order fray in an effort to maintain a place in the sun for the Big Blue
PC.
-- The old-line data center is going the way of the passenger pigeon.
End-users are taking control of applications, stripping central IS of its
traditional role.  IS won't be left empty-handed, however.  In '92 and beyond,
the proliferation of applications into PCs and LANs is going to hand central
IS a brand new set of information management challenges.
TISC makes its predictions in a report to customers that highlights the trends
affecting IS strategic planning.  Among other subjects in its forecast for
1992, TISC discusses international competition; winners and losers among major
suppliers; the reduction of the computer industry work force; industry
standardization; and outsourcing of many traditional IS functions.  A full
copy (10 pages) of TISC predictions for 1992 is available on request.
Technology Investment Strategies Corp., a subsidiary of International Data
Group (IDG), offers clients worldwide a comprehensive set of research products
and consulting services that help corporate executives make their strategic
business decisions about information technology.
TISC serves clients from its headquarters in Framingham and London. As a
subsidiary of IDG, the world's leading supplier of information on information
technology, the company is part of an established and responsive global
network that operates in more than 50 countries.
CONTACT: Cudaback Strategic Communications, Framingham
   Ian Cheeseman or Priscilla O'Reilly, 617/661-6330.
-30- 3504
BREAKWATER RESOURCES STARTS DEBT RESTRUCTURING NEGOTIATIONS WITH THIRD PARTY
12/31/91
91365b0095  Business Wire
VANCOUVER, B.C. (DEC. 31) BUSINESS WIRE - Breakwater Resources Ltd. announced
Tuesday that it has commenced negotiations with a third party to effect a debt
and equity restructuring.
Breakwater is not in the financial position to pay the interest due on Jan. 1
to the holders of its Swiss Bonds. The restructuring plan contemplates an
infusion of equity conditional upon the agreement of some of its creditors to
convert their debt into equity. In support of this restructuring, Amax Inc.
has extended by 90 days a U.S. $2.5 million note that was payable on Jan. 2.
At the present time, a definitive agreement has not been reached as the
details of the restructuring plan are still being negotiated.
Breakwater anticipates that it shall be able to complete the negotiations
within seven to 10 days, at which time more detailed disclosure will be
disseminated to the public.
The Vancouver Stock Exchange has neither approved nor disapproved of the
information contained herein.
CONTACT: Breakwater Resources Ltd., Vancouver
  Allen J. Palmiere, 604/669-1918.
-30- 1454
INDUSTRIAL FUNDING, LENDERS AGREE ON THIRD EXTENSION OF STANDSTILL AGREEMENT
12/31/91
91365b0081  Business Wire
PORTLAND, OR (DEC. 31) BUSINESS WIRE - Industrial Funding Corp. (NASDAQ:
IFDCA) Tuesday announced that its wholly owned operating subsidiary,
Industrial Leasing Corp. has agreed with its lenders to extend its standstill
agreement from Dec. 21, 1991 through Jan. 31, 1992.
This third extension has been agreed to among the company and its lenders in
order to allow additional time to continue negotiations to restructure the
company's debt agreements. The standstill agreement provides that no remedies
or actions available to the lenders under the loan agreements may be taken
through Jan. 31, 1992, in response to the company's default under the
agreements.
CONTACT: Industrial Funding Corp., Portland
 John J. Estok, 503/721-3210
 David S. Cleary, 503/721-3358.
-30- 1124
RITE AID RAISES ITS BID FOR REVCO D.S. INC. BY $18.5 MILLION
12/31/91
91365b0079  Business Wire
SHIREMANSTOWN, PA (DEC. 31) BUSINESS WIRE - Rite Aid Corp. (NYSE, PSE: RADQ)
announced Tuesday that it has increased its cash offer to purchase Revco D.S.
Inc. by $18.5 million. In addition, the company provided a put right at $24.50
to subordinated note holders who will receive Rite Aid common stock.
The modification to the Plan of Reorganization under the United States
Bankruptcy Code was jointly submitted to the United States Bankruptcy Court,
Northern District of Ohio, by Rite Aid and five holders of Revco 11 3/4
percent sinking fund debentures.
The amendment increases the consideration to be paid to Class 3 (Bank Claims)
by $12 million to $260,462,000. The cash consideration to Class 10 (Senior
Subordinated Note Claims), Class 11 (Subordinated 1996 Note Claims) and Class
12 (Junior Subordinated Note Claims) has been increased to $49,889,500,
$5,837,071.50 and $773,428.50, respectively. In addition, a put right has been
added for Class 10, 11 and 12 claims.
The put right guarantees the value of Rite Aid stock at $24.50 during calendar
year 1993 by allowing the original holder to put the shares back to Rite Aid.
Rite Aid has the option to purchase the shares at $24.50 or pay the difference
between $24.50 and the 10-day average closing price of Rite Aid stock before
the put, in cash or Rite Aid stock.
The put right expires any time Rite Aid's closing stock price is equal to or
greater than $27 per share for 20 days during any 30 consecutive trading days.
The Rite Aid plan continues to be the only plan submitted to the Bankruptcy
Court which provides for the payment of cash and publicly-traded securities in
settlement of the Revco creditors' claims.
Rite Aid Corp. operates 2,443 drugstores in 22 eastern states. It also
operates 87 ADAP and Auto Palace auto parts stores, 83 Encore Books locations
and 171 Concord Custom Cleaners dry cleaning stores.
CONTACT: Rite Aid Corp., Shiremanstown
  Frank Bergonzi, 717/975-5750.
-30- 2364
NOVELL INC. SHIPS NETWARE 3270 LAN WORKSTATION FOR WINDOWS
12/31/91
91365b0078  Business Wire
SUNNYVALE, CA (DEC. 31) BUSINESS WIRE - Novell (NASDAQ:NOVL) Tuesday
announced the availability of NetWare 3270 LAN Workstation for Windows, a
MicroSoft Windows 3.0 application used in conjunction with NetWare for SAA,
enabling Windows-to-IBM host connectivity on a NetWare LAN.
The company also announced a special upgrade promotion whereby customers and
resellers can upgrade from the NetWare SNA Gateway products to NetWare for SAA
v1.1 for half price.
NetWare 3270 LAN Workstation for Windows is a Windows 3.0 application which
emulates IBM 3270 terminals and 3287 printers. The product is used in
conjunction with NetWare for SAA to provide Windows 3.0 users on a NetWare LAN
with cost-effective access to SNA mainframes and AS/400 minicomputer
applications and data. Users can easily access host applications such as
OfficeVision, NetView, DB2, TSO, CMS, CICS, PROFS. LU6.2 applications are also
supported.
The product is fully integrated with the Windows environment and allows users
to take advantage of the user-friendly graphical Windows interface, including
extensive use of the mouse, copy and paste functions, and the capability to
customize font sizes, keyboard layouts and color schemes.
NetWare 3270 LAN Workstation for Windows software supports multiple concurrent
display and printer sessions with multiple hosts, each in its own window. Host
screen prints and 3287 printing can be redirected to network printers. Users
can easily switch between other Windows applications and host sessions with a
click of the mouse. A file transfer menu option allows files to be moved to and
from the host.
From Dec. 1, 1991 through April 30, 1992, customers and resellers can upgrade
from NetWare SNA Gateway products to NetWare for SAA for half price as follows:
         From:                     To:
- NetWare SNA Gateway ELS  - NetWare for SAA v1.1
                         (16 host session)
- NetWare SNA Gateway      - NetWare for SAA v1.1
                         (254-host session)
For more information about the special offer, call 800-NETWARE.
Novell Inc., is an operating system software company, the developer of network
services and specialized and general purpose operating system software
products including NetWare, DR DOS, DR Multiuser DOS and FlexOS.
CONTACT: Novell Inc., Sunnyvale
 Bill Jeppesen, 801/429-5833
  Teddi Converse, 801/429-5833.
-30- 2866
DIGITAL SYSTEMS SAYS SUBSIDIARY CLOSURE WILL NOT AFFECT VOICELINK PRODUCT
12/31/91
91365b0063  Business Wire
REDMOND, WA (DEC. 31) BUSINESS WIRE - Digital Systems International Inc.
(NASDAQ: DGTL): Today's statements by the press stating that Digital Systems
International Inc. was discontinuing the product known as "Voicelink" are
incorrect and misleading.
In 1991, Digital Systems' sales and services for the full year related to the
Voicelink product are estimated to have increased by 34 to 37 percent over the
same period in 1990. "Closure of the Voicelink Data Services facility
terminates the ongoing resource drain from that subsidiary which we hope will
allow us to return to our previous operating margins," said Digital Systems
president and chief executive officer, Michael L. Darland.
Digital Systems International Inc.'s decision - announced Monday, Dec. 30 at
4:09 p.m. EST - to discontinue operations at its Voicelink Data Services (VDS)
subsidiary does not affect the manufacture, sales or service of Digital
Systems' core product called Voicelink.
Digital Systems develops and markets Voicelink Intelligent Call Management
Systems. The Voicelink product is a highly sophisticated computer system that
helps users create low-cost, effective telephone contacts with their
customers. The Voicelink Call Management System is used by major corporations
in the United States and abroad, including financial institutions, utilities,
regional Bell operating companies and other companies in the consumer credit,
collections, communications, telemarketing, and health care industries.
Voicelink is a registered trademark of Digital Systems International Inc.
Intelligent Call Management is a trademark of Digital Systems International
Inc.
CONTACT: Digital Systems International, Inc., Redmond
  Michael Osborn or Gerry Sternesky, 206/881-7544.
-30- 2229
HEWLETT-PACKARD INTRODUCES WORLD'S MOST ACCURATE COMMERCIAL ATOMIC CLOCK
12/31/91
91365b0051  Business Wire
PALO ALTO, CA (DEC. 31) BUSINESS WIRE - Hewlett-Packard Co. (NYSE/PSE:HWP)
Monday unveiled the world's most precise, commercially available timekeeping
device -- an atomic clock that keeps time to one second in 1.6 million years.
The HP 5071A primary frequency standard (with Cesium II technology) is twice
as accurate as the previous record holder, the HP 5061B, and achieves new
levels of stability and reliability.  HP's atomic clock, which is used by the
world's official timekeepers -- time metrologists, is a leader among the
commercial primary standards used for timekeeping around the globe.
Atomic clocks play a vital role in modern communications -- synchronizing the
rapid movement of information through telephone systems and computer networks.
 They provide the accuracy to generate the signals transmitted by virtually
every radio and television station in the world.  State-of-the-art,
satellite-based navigation systems used by everything from oil tankers to
space shuttles rely on the precise timing provided by atomic clocks.
Navigation and communication in space -- and astronomy to determine the age of
the universe and the motion of stars and galaxies -- require an exactness that
pushes the limits of today's atomic clocks.
Originally developed for commercial applications by HP in 1964, HP's
cesium-beam atomic clocks achieve their accuracy by synchronizing a microwave
signal with the vibrations of the Cesium 133 atom, an accepted worldwide
definition of time.  Beating more than 9 billion times per second, these
atomic clocks are the yardsticks against which all other clocks in the world
are measured.
HP atomic clocks are used worldwide by standards bureaus, the military,
manufacturing companies and scientific-research laboratories.  Among the
standards bureaus relying on HP atomic clocks are the U.S. Naval Observatory
in Washington, D.C., the National Institute of Standards and Technology (NIST)
 the Observatoire de Paris, the National Physical Laboratory in the United
Kingdom and the Physikalisch-Technische Bundesanstalt in Germany.
Telephone companies such as AT&T also use HP atomic clocks.  Prime defense
contractors such as Lockheed, Unisys and Rockwell depend on HP atomic clocks
as primary timekeeping standards.
The HP 5071A is the only atomic clock guaranteed to achieve near-laboratory
specifications under full environmental conditions, virtually ignoring changes
in temperature, humidity and magnetic fields.  Its microprocessor-controlled
electronics package constantly regulates the cesium-beam tube's microwave
power, cesium-oven temperature, magnetic field, electron-multiplier voltage
and signal gain to operate at the optimum levels.
Hewlett-Packard is an international manufacturer of measurement and
computation products and systems recognized for excellence in quality and
support.  The company's products and services are used in industry, business,
engineering, science, medicine, and education in approximately 100 countries.
HP has over 89,000 employees and had revenue of $14.5 billion in its 1991
fiscal year.
CONTACT:  Hewlett-Packard Co.
    Al Thorne, 408/553-2545
               or
    Mike Gospe, 408/553-7083.
-30- 3655
WHITTAKER SAYS SALE OF PARK CHEMICAL'S MOLD RELEASE PRODUCT LINE TO CHEM-TREND
12/31/91
91365b0048  Business Wire
LOS ANGELES (DEC. 31) BUSINESS WIRE - Whittaker Corp. Tuesday announced that
it has sold the mold release product line of Park Chemical Co. to Chem-Trend
Inc.
Terms of the transaction were not disclosed.
CONTACT:  Whittaker Corp., Los Angeles
   Edward R. Muller, 310/475-5021
                     310/475-9411, ext. 341
       or
   John K. Otto, 310/470-3091
                 310/475-9411, ext. 210.
-30- 648
PS GROUP ANNOUNCES WITHDRAWAL OF COMMON STOCK EXCHANGE OFFER
12/31/91
91365b0044  Business Wire
SAN DIEGO (DEC. 31) BUSINESS WIRE - PS Group Inc. (NYSE:PSG) announced
Tuesday that it was withdrawing its offer to exchange shares of PS Group
common stock for all of the remaining outstanding shares of Recontek Inc.
common stock not already owned by it.
PS Group currently owns approximately 83 percent of Recontek.
In its offer PS Group agreed to value the Recontek shares to be exchanged at
$20 per share.  PS Group's obligation to close the exchange offer was subject
to a number of conditions.  One of those conditions was that the average
closing price for PS Group common stock be not less than $33 per share for the
15 trading days prior to Dec. 27, 1991.  That condition was not met.
PS Group announced that it expects its board of directors to act formally on
termination of the exchange offer in approximately one week.
CONTACT:  PS Group Inc., San Diego
   George M. Shortley, 619/546-5001.
-30- 1243
SAN JOSE WATER APPOINTS CHARLES TOENISKOETTER TO BOARD OF DIRECTORS
12/31/91
91365b0042  Business Wire
SAN JOSE, CA (DEC. 31) BUSINESS WIRE - San Jose Water Co. proudly announces
the appointment of Charles J. Toeniskoetter to its board of directors.
Toeniskoetter is the co-founder of Toeniskoetter and Breeding Inc.
Construction.  This firm has completed over $100 million of construction work
since its inception in 1983.  He is also the co-founder of Toeniskoetter and
Breeding Inc. Development.  The firm develops, owns and manages over $60
million of commercial and industrial properties in Santa Clara and Santa Cruz
counties.
Active in many political and charitable organizations, Toeniskoetter currently
serves on the board of directors of the Children's Discovery Museum, Valley
Medical Center Foundation, O'Connor Hospital, San Jose Chamber of Commerce.
San Jose Water Co. is a publicly held utility in the business of providing
water service to a population of approximately 750,000 people in the
metropolitan San Jose area.  The company service area encompasses about 134
square miles and continues to attract residential and commercial development.
CONTACT:  San Jose Water Co., San Jose
    Sharon Whaley, 408/279-7815/
-30- 1477
VIDMARK COMPLETES ACQUISITION OF INTERNATIONAL BROADCAST SYSTEMS
12/31/91
91365b0035  Business Wire
SANTA MONICA, CA (DEC. 31) BUSINESS WIRE - Vidmark Inc. today announced that
it has completed its acquisition of International Broadcast 3/4s of Class A
common stock and Class B common stock of IBS at $0.51 per share, was, as
previously announced, completed on Dec. 24, 1991.
The merger results in the automatic conversion of the remaining Class A shares
of IBS's common stock (other than shares held by Vidmark Inc. or its
subsidiaries or IBS, or by any stockholders exercising their statutory
appraisal rights) into the right to receive $0.51 net cash per former share.
Vidmark Inc. is an international distributor of motion pictures primarily
engaged in the distribution of feature films in the home video market,
domestic theatrical and television markets, and in the licensing of
distribution rights to motion pictures in foreign markets. Vidmark's common
stock is listed on the NASDAQ national market system under the symbol VDMK.
IBS distributes television programming internationally.  IBS also secures
airtime and sponsorships internationally and provides broadcast management and
consulting services to television stations and program producers both
domestically and abroad.
CONTACT:  Vidmark Inc., Santa Monica
   David Bowers, 310/399-8877.
-30- 1618
SPECTRUM INFORMATION TECHNOLOGIES ANNOUNCES AGREEMENT WITH MOMENTA CORP.
12/31/91
91365b0028  Business Wire
DALLAS (DEC. 31) BUSINESS WIRE - Spectrum Information Technologies Inc.
(NASDAQ:SPCL) Tuesday announced that its subsidiary Data One Inc., a
Moline-Illinois based laptop computer reseller, has reached an agreement with
Momenta Corp. to be a Value Added Reseller for Momenta's pen capable notebook
computers.
Data One is one of the few VAR's selected nationwide by Momenta Corporation to
represent its latest notebook technology.
''Pen computing represents technology that will define portable computing
during this decade,'' said Ron Glassner, Data One's CEO. Pen computers use a
pen or stylus to interface with the computer rather than a keyboard.
The user is literally writing on the computer screen the same way they would
write on a note pad.
Spectrum, a publicly-held integrated company, along with its subsidiaries, has
the demonstrated capability to develop, deliver and support a wide array of
state-of-the-art telecommunications and portable data products.
Whether equipping field personnel with portable computers, providing host site
computers and networks, or tying the two together with wireless communications
technology, Spectrum is an industry leader.
CONTACT: Spectrum Information Technologies Inc., Dallas
   Kathy Bachand, 800/FOR-SPCL..
-30- 1661
TERRANO ANNOUNCES ILS-5 SYSTEM SALE AT GOSHEN GENERAL HOSPITAL OF GOSHEN, IND.
12/31/91
91365b0015  Business Wire
LINCOLN, NE (DEC. 31) BUSINESS WIRE - Terrano Corp. (NASDAQ:TRNO) Tuesday
announced that Goshen General Hospital of Goshen, Ind., a 160-bed hospital,
has purchased an IBM AS/400-based ILS-5 Laboratory Information System.
The contract includes the company's Laboratory Management, Remote Users
Network, Advanced Microbiology and Automated Remote Reporting Modules, the
Transfusion Service Manager System, Anatomic Surgical Information Retrieval
System, and multiple instrumentation and system interfaces.
Terrano Corp. develops and markets integrated turn-key computer systems for
radiology departments and clinical laboratories.  The company is best known
for the ILS-5 Clinical Laboratory System which is a comprehensive information
management system for both hospital and private laboratories.
Terrano Corp. products are based on the IBM AS/400 and Prime Computer Inc.
50-Series family of computer systems.
CONTACT: Terrano Corp., Lincoln
  Lynn Michl, 402/483-7831.
-30- 1325
FIRST COMMERCIAL BANCORP DECLARES CASH DIVIDEND OF 32 CENTS PER COMMON SHARE
12/31/91
91365b0014  Business Wire
SACRAMENTO, CA (DEC. 31) BUSINESS WIRE - W. Greg Karr, president and chief
executive officer of First Commercial Bancorp Inc. (NASDAQ/NMS:FCOB), the
holding company of First Commercial Bank, announced that the company's board
of directors declared a 32 cent cash dividend on its common stock payable in
four equal instalments during 1992.
Karr also announced that ''The bank will make a fourth quarter allocation to
its loan loss reserve of approximately $3,100,000, an increase of $2,420,000
over the same period last year.
''We continue to operate in a difficult environment that is full of
uncertainty and anxiety about the economy in general, and real estate in
particular.  While the bank has reduced its real estate construction portfolio
by 25 percent from its peak at March 31, 1991, it is still prudent in this
environment to make this addition to our loan loss reserve.''
The ratio of the reserve for loan losses to total loans is expected to be
approximately 1.7 percent at Dec. 31, compared to 1.0 percent for the like
period last year.  The company will be reporting a fourth quarter loss due to
the increase to the loan loss reserve, but will post a profit for the full
year.
The board of directors' declaration of a 32 cent per share cash dividend on
its common stock was predicated on the company's exceptionally strong capital
position and its anticipated earnings for 1991.  This cash dividend is an
increase over the 30 cents per share dividend paid during 1991.
First Commercial Bank, founded in 1979, is an independent bank with nine
branch offices and is headquartered in Sacramento.  Member of the Federal
Deposit Insurance Corp.
CONTACT: First Commercial Bancorp Inc., Sacramento
   W. Greg Karr, 916/641-3262.
-30- 2111
A.P. GREEN INDUSTRIES ANNOUNCES TEMPORARY LAYOFF OF 78 PRODUCTION EMPLOYEES
12/31/91
91365b0013  Business Wire
MEXICO, MO (DEC. 31) BUSINESS WIRE - A.P. Green Industries Inc. (NASDAQ:APGI)
has announced that it will reduce production at its Mexico and Fulton, Mo.,
plants, and the temporary suspension of production at its Little Rock, Ark.,
raw material facility.
This action will result in the temporary layoff of 78 hourly production
employees on Jan. 3, 1992.
Company officials said that 64 of the employees laid off will be from the
Mexico plant, nine from Little Rock, and five from Fulton.
An additional seven hourly employees will be retiring from the Mexico plant as
of Jan. 1, 1992, and will not be replaced.  As a result of the reduction in
hourly employment a number of salaried manufacturing positions will be
eliminated.
Company officials said the production curtailment is due to the continuing
impact of the recession on major consumers of refractory products manufactured
by the company, particularly those produced by the Mexico and Fulton plants.
Paul F. Hummer, president and chief operating officer of Green said,
''Unfortunately, our inventories of brick and monolithic refractories and our
Arkansas-produced raw materials have now reached levels requiring adjustments
to production schedules.  We will continue to monitor closely our incoming
orders and will make additional changes to our production schedules as
required.
The layoffs, which were announced to affected employees on Monday, are
expected to be temporary at all locations, but company officials declined to
speculate on when employees would be recalled.
A.P. Green had previously announced a net loss through Sept. 30, 1991, of
$910,000, or 34 cents per share and earlier this month said that operating
losses were continuing into the fourth quarter.
A.P. Green Industries Inc., headquartered in Mexico, is a leading manufacturer
and distributor of refractory products in both the United States and
international markets.
The company also manufactures industrial lime products used in the production
of steel, aluminum and paper, and for road stabilization and water
purification.  The company operates 13 plants in the United States, Canada and
the United Kingdom.
CONTACT: A.P. Green Industries Inc., Mexico
  Ronald L. Bramblett, 314/473-3626.
-30- 2648
EASTLAND BANK AND EASTLAND FINANCIAL STRENGTHEN CAPITAL THROUGH STOCK ISSUE
12/31/91
91365b0011  Business Wire
WOONSOCKET, RI (DEC. 31) BUSINESS WIRE - As part of its recovery plan,
Eastland Financial Corp. (NASDAQ:EAFC) announced Tuesday it has strengthened
its capital position through a $5,000,000 preferred stock issue.
The preferred stock has been issued to Citizens Savings Bank in exchange for
the retirement of a $5,000,000 subordinated debenture held by Citizens Savings
Bank.  The debenture had been held since 1986 and was an obligation of
Eastland Financial Corp.'s wholly-owned subsidiary, Eastland Savings Bank.  In
addition, Citizens Savings Bank has received warrants for the purchase of up
to 750,000 shares of Eastland Financial Corp.'s common stock.
The transaction provides $5,000,000 in equity capital to both Eastland
Financial Corp. and Eastland Savings Bank.  Additionally, the entire amount
will be considered Tier I Capital for Eastland Savings Bank, helping the bank
in its efforts to meet the FDIC mandated 5 percent minimum Tier I Leverage
Capital Ratio by June 14, 1992.
Merrill W. Sherman, chairwoman, president and chief executive officer of
Eastland Financial Corp. explained, ''We are pleased with this transaction
which represents an important first step in Eastland's capital augmentation
process.  By itself, the transaction does not satisfy regulatory mandates.
However, it is an important move in the right direction.''  The transaction
has received regulatory approval. Eastland reported that the principal terms
of the transaction  include:
The issuance of $5,000,000 of perpetual cumulative preferred stock with an
initial dividend rate of 6 percent rising in annual stages to 14 percent in
the fourth year.  Eastland may redeem the preferred stock by paying the holder
the principal amount plus a premium.
The issuance to the preferred stock holder of a warrant entitling the holder
to purchase up to 750,000 shares of the common stock of Eastland Financial
Corp. at a price of $1.50 per share.  Exercise of the warrant is subject to
regulatory approval, and the warrant may be exercised until Jan. 1, 1997.
Eastland Bank and Eastland Savings Bank are members of the Federal Deposit
Insurance Corp.  Eastland Bank has 14 branch locations throughout Rhode Island.
CONTACT:  Eastland, Woonsocket
    Merrill W. Sherman, 401/767-3900.
-30- 2712
POLISH PRIVATE SECTOR ACCOUNTS FOR 22 PERCENT OF 1991 INDUSTRIAL OUTPUT
12/30/91
91364y0095i  Newsgrid News
WARSAW (DEC. 30) DPA - Poland's private sector accounted for 22 per cent of
the country's total industrial production in 1991, compared to a 16 per cent
share in 1989, the outgoing government of Premier Jan Krzysztof Bielecki said
in a report Monday. The report said private-sector industrial output in 1991
increased by 20 per cent.
-30- 348
AUSTRIA EXPECTS HIGHER TOURISM EARNINGS OF AT LEAST $14.9 BILLION FOR
12/30/91
91364y0095h  Newsgrid News
VIENNA (DEC. 30) DPA - Austria's tourism industry earnings in 1991 will exceed
160 billion schillings (14.9 billion dollars), up 10 per cent from last year's
income, Economics Minister Wolfgan Schuessel said. The number of overnight
stays by visitors to Austria this year increased about five per cent to 130
million.
-30- 427
GERMANY'S SIEMENS SAYS IT WON $20 MILLION CONTRACT FROM U.S. MILITARY
12/30/91
91364y0095g  Newsgrid News
NUREMBERG (DEC. 30) DPA - The German electronics company Siemens said that it
won an order worth 20 million dollars to equip four U.S. military hospitals
with its Medical Diagnostic Imaging Support data network. The U.S. military
hospitals in San Antonio, Phoenix, Tacoma and Dayton will be linked into the
data system.
-30- 338
AIDS DRUG FUELS JUMP IN SHARE PRICES FOR BRITISH PHARMACEUTICAL FIRM
12/30/91
91364y0095f  Newsgrid News
LONDON (DEC. 30) UPI - Shares in the British pharmaceutical company Wellcome
surged 10 percent Monday on the London stock market following reports its top
selling drug has been found to prolong the lives of AIDS victims in hospital
tests.
By 2 p.m. shares in Wellcome were up 99pence ($1.85) on Friday's closing rate
to 1,056pence ($19.75) on the London stock exchange.
-30- 478
RUSSIAN LEADERS PREDICT PRIVATIZATION WILL CURE SOCIAL ILLS OF ECONOMY
12/30/91
91364y0095e  Newsgrid News
MOSCOW (DEC. 30) UPI - Russian leaders predicted Monday that transforming
state-owned enterprises into private property will ease the social tension
afflicting the republic as it lurches toward a market economy.
Privatization is ''above all social policy and not only economics,'' deputy
Prime Minister Yegor Gaidar, architect of the market reforms being pushed
through by the Russian government, told a news conference.
-30- 450
ITALY'S TRADE DEFICIT FOR FIRST 11 MONTHS RISES TO $15.6 BILLION DOLLARS
12/30/91
91364y0095d  Newsgrid News
MILAN (DEC. 30) DPA - Italy's foreign trade