dillard department stores inc < dds > 4th qtr net little rock , ark. , march 2 - qtr ended jan 31 shr 1.16 dlrs vs 1.15 dlrs net 32.4 mln vs 33.5 mln revs 629.0 mln vs 538.6 mln avg shrs 32.1 mln vs 29.2 mln 12 mths shr 2.35 dlrs vs 2.29 dlrs net 74.5 mln vs 66.9 mln revs 1.85 billion vs 1.60 billion avg shrs 31.7 mln vs 29.2 mln note : shr/avg shrs data show 2-for-1 split nov. 1985 . reuter
coffee quota talks continue , no accord seen likely london , march 2 - the international coffee organization ( ico ) council talks reintroducing export quotas continued extended session lasting late sunday night , delegates said prospects accord producers consumers diminishing minute . the special meeting , called stop prolonged slide coffee prices , likely adjourn sometime tonight without agreement , delegates said . the council expected agree reconvene either within next six weeks september , said . the talks foundered sunday afternoon became apparent consumers producers could compromise formula calculating future quota system , delegates said . coffee export quotas suspended year ago prices soared response drought cut brazil 's crop nearly two-thirds . brazil world 's largest coffee producer exporter . reuter
nederlandse gasunie issues 100 mln dlr eurobond london , march 3 - nv nederlandse gasunie issuing 100 mln dlr eurobond due april 15 , 1992 paying 7-1/4 pct priced 101-1/8 pct , lead manager citicorp investment bank ltd said . the non-callable bond available denominations 5,000 dlrs listed luxembourg . the selling concession 1-1/4 pct , management underwriting combined pays 5/8 pct . the payment date april 15 . reuter
warwick insurance managers inc < wimi > 4th qtr morristown , n.j. , march 2 - oper shr 17 cts vs 19 cts oper net 636,000 vs 358,000 revs 10.6 mln vs 7,024,000 avg shrs 3,808,000 vs 1,924,000 year oper shr 73 cts vs 65 cts oper net 2,467,000 vs 1,199,000 revs 31.5 mln vs 22.9 mln avg shrs 3,372,000 vs 1,785,000 note : net excludes investment gains 20,000 dlrs vs 86,000 dlrs quarter 586,000 dlrs vs 195,000 dlrs year . 1985 year net excludes 304,000 dlr tax credit . share adjusted one-for-two reverse split november 1985 . reuter
franklin insured tax-free sets payout san mateo , calif. , march 2 - mthly div 7.1 cts vs 7.1 cts prior pay march 31 record march 16 note : franklin insured tax-free income fund . reuter
n.z . trading bank deposit growth rises slightly wellington , feb 27 - new zealand 's trading bank seasonally adjusted deposit growth rose 2.6 pct january compared rise 9.4 pct december , reserve bank said . year-on-year total deposits rose 30.6 pct compared 26.3 pct increase december year 34.5 pct rise year ago period , said weekly statistical release . total deposits rose 17.18 billion n.z . dlrs january compared 16.74 billion december 13.16 billion january 1986 . reuter
purolator < pcc > in buyout with hutton < efh > by patti domm new york , march 2 - new jersey-based overnight messenger purolator courier corp said agreed acquired 265 mln dlrs company formed e.f. hutton lbo inc certain managers purolator 's u.s. courier business . analysts said purolator sale time . purolator announced earlier mulling takeover bid , analysts wrongly predicted offer another courier company . hutton lbo , wholly owned subsidiary e.f. hutton group inc , majority owner company . hutton said acquiring company , pc acquisition inc , paying 35 dlrs cash per share 83 pct purolator 's stock tender offer begin thursday . the rest shares purchased securities warrants buy stock subsidiary pc acquisition , containing purolator 's u.s. courier operations . if shares purolator tendered , shareholders would receive share 29 dlrs cash , six dlrs debentures , warrant buy shares subsidiary pc acquisition containing u.s. courier operations . hutton said merger shareholders would get 46 mln dlrs aggregate amount guaranteed debentures due 2002 pc acquisition warrants buy 15 pct common stock pc courier subsidiary . hutton said company valued warrants two three dlrs per share . purolator 's stock price closed 35.125 dlrs friday . while analysts estimated company worth mid 30s , least one said would worth 38 42 dlrs . this follows sales two purolator units . it agreed recently sell canadian courier unit onex capital 170 mln dlrs , previously sold auto filters business . purolator retains stant division , makes closure caps radiators gas tanks . a hutton spokesman said firm reviewing options stant . purolator 's courier business lagging u.s. rivals high price paid past several years add air delivery ground fleet . e.f. hutton provide 279 mln dlrs funds complete transaction . this so-called `` bridge '' financing replaced later long-term debt likely form bank loans , hutton said . hutton lbo committed keeping courier business , president warren idsal said . `` purolator lost 120 mln dlrs last two years largely due u.s. courier operations , believe management turning around . we belive serious competitor future , '' said idsal . william taggart , chief executive officer u.s . courier division , chief executive officer new company . the tender offer conditioned minimum two thirds common stock tendered withdrawn expiration offer well certain conditions . the offer begin thursday , subject clearances staff interstate commerce commission expire 20 business days commencement unless extended . reuter
brazil criticises advisory committee structure by sandy critchley , reuters london , march 2 - brazil happy existing structure 14-bank advisory committee coordinates commercial bank debt , finance minister dilson funaro said . u.s. banks 50 pct representation committee holding 35 pct brazil 's debt banks , said , adding `` this fair european japanese banks . '' the committee played useful role 1982 1983 , however . noting often different reactions u.s. , japanese european banks , funaro told journalists brazil might adopt approach involving separate discussions regions . since debtor nations ' problems normally treated case-by-case basis , `` perhaps principle apply creditors , '' central bank president francisco gros said . brazil february 20 suspended indefinitely interest payments 68 billion dlrs owed commercial banks , followed last week freeze bank trade credit lines deposited foreign banks institutions , worth 15 billion dlrs . funaro gros spent two days end last week washington talking government officials international agencies week visit britain , france , west germany , switzerland italy discussions governments . funaro gros today meeting british chancellor exchequer nigel lawson , foreign secretary geoffrey howe governor bank england robin leigh-pemberton . bankers estimated brazil owes u.k. banks around 8.5 billion dlrs long medium term loans , giving u.k . the third largest exposure u.s. and japan . the crisis began brazil 's trade surplus , chief means servicing foreign debt , started decline sharply problem compounded renewed surge country'sate inflation . reserves reported dropped four billion dlrs . funaro envisaged eventual solution problems brazil 's 108 billion dlr foreign debt would involve partial servicing debt . `` what propose arrive mechanism refinance part service , service , '' said . `` i really think change old rules . '' asked brazil first approaching governments , rather commercial banks search solution crisis , funaro said `` we must first talk governments talk banks , banks limits . '' `` it political discussion point view , '' said . funaro said hoped next week travel talk japanese canadian government officials . he would talk commercial banks `` if i 've got solution governments . i ca n't take burden banks . '' he sure long would take reach solution . in discussions governments brazil would review mechanisms whereby finance made available nations need . finance official lending agencies virtually closed since 1982 . `` you must open mechanisms , '' said . he said u.s. officials disturbed brazil 's suspension interest payments , understood brazil choice , protect reserves . also financing mechanisms discussed `` ca n't stay last years . '' `` i 'm trying put problem table ... . all us would like kind equilibrium . '' said . although brazil rejected substantive role international monetary fund ( imf ) managing economy , funaro paid call washington imf managing director michel camdessus world bank president barber conable . funaro noted inflation february started decline expected brazil achieve minimum eight billion dlr trade surplus 1987 . banking sources noted brazil 's monthly surplus declined 150 mln dlrs final three months last year , monthly one billion first nine months . brazil third largest trade surplus world , funaro said , although share international trade one pct . `` the solution linked growth , recession , '' said , noting imf program would involve promoting exports inducing internal recession order service debt . banking sources said brazil 's debts foreign governments , opposed commercial banks , benefit sounder structure following last month 's rescheduling paris club creditor nations 4.12 billion dlrs official debt . reuter
******u.s. m-1 money supply rises 2.1 billion dlrs in feb 16 week , fed says blah blah blah .
cincinnati bell < csn > sets stock split cincinnati , march 2 - cincinnati bell inc said board declared two-for-one stock split , subject two thirds approval annual meeting april 20 increase authorized common shares 120 mln 60 mln . it said split would payable may 20 holders record may five . reuter