The Des Moines Register from Des Moines, Iowa • Page 14

MITT1 6S THE PES MOINES REGISTER fl April 27, 1987 BH511ESS WESTiEiT HEWS JIM LAVLESS places tup faces Hawkeye games: Big coup for KDSM Investor's Memo Charles C. Moser, manager of the Avoca office of the Council Bluffs Savings Bank, has been promoted to" a REGISTER PHOTO BY BOB MODERSOHN vice president of the bank. Moser for merry managed the Carson branch of the bank and is a past president of the Carson Businessman Club. Craig Lovstad has also been named a vice president of the Council Bluffs bank. a good broadcaster," Grieve said.

"You won't find a lot of fat in those places." KDSM has only 30 full-time employees. Channel 17 was launched as KCBR four years ago by local investors on a shoestring budget of $2.8 million. Two years later they sold out for $8.3 million to Duchossois Communications, a subsidiary of Duchossois Enterprises a Chicago-based manufacturing firm. Lovstad has been with the bank for 15 years, most recently in the commer cial loan department. Jay L.

Miller of Iowa City has been appointed sales representative in the architectural sales division of the Gerkin Sioux By DALE KASLER Rtdsltr Buttons Writer When KDSM-TV won the rights to broadcast University of Iowa basketball and football games three weeks ago, station general manager Tommy Thompson hailed the deal as "a grand-slam home run" for Channel 17. Thompson may get his sports metaphors confused. But the Hawkeyes contract gives Des Moines' fledgling independent station until now a bastion of movies, reruns and Joan Rivers a big jolt of credibility. "That is a major coup for them," said Ron Briggs, general sales manager at KCCI-TV. "It should put them on the map." KDSM will be one of seven television stations broadcasting ie games.

Others chosen include KWQC-TV in Davenport, KGAN-TV in Cedar Rapids, KDUB-TV in Dubuque and KCAU-TV in Sioux City. Yet in one respect the Hawkeye sports package is the exception to the rule. KDSM has became successful, it seems, by settling for singles and doubles rather than swinging for the fences. Where independent stations in other cities have gone broke by spending too much money on high-profile progran is, "we have been prudent," Thompson said. Making Money Despite a relatively weak signal City.

Miller will su TOP pervise sales in western Iowa and Citicorp still a sound stock Citicorp, the huge New York bank holding company, is making a Des Moines investor nervous. "I have 200 shares of Citicorp stock," she writes. "I paid 154.75 a share. The stock has gone down ever since I bought." She asks whether she should hold or sell her Citicorp shares. Buying more at the lower price doesn't seem to be an option.

Citicorp stock traded below $50 a share on the New York Stock Exchange last week before a rally on Thursday, based on reports that Japanese banks may be willing to expend $30 billion in trade credits to Latin America, thus easing the debt crisis that has caused some U.S. banks to put Latin American loans on a non-accrual basis. The stock closed Friday at $3.12 a share for the week, eastern Illinois. Shirley Larson has JAY MILLER been named serv ices coordinator for Gerkin. Larson joined the company's city sales desk department in 1986.

William J. Karle a native of Bur lington, has been appointed assistant national secretary of the Travelers Protective Associa tion of America. Edward H. Wil but still down from a 52-week high of $63.75. On paper, taking no account of brokerage commissions and Citicorp dob WILLIAM J.

KARLE JR. son, Waterloo, president of Iowa Show and low ratings on the average, KDSM is watched by only 7 percent of Productions has been appointed to the board of the Iowa Natural Hen the Des Moines viewers KDSM officials say the station is making money. "We are on target," said Rol-land Johnson, president of Duchossois tage Foundation. Wilson is a past president and district governor of the Communications, the station owner Waterloo Rotary Club. (the company is privately owned and Harlan Hunt, vice president, fi doesn't release financial results).

To be sure, KDSM has yet to take nance, of Seabee of Hampton, was elected chairman of the Indepen KDSM-TV General Manager Tommy Thompson hails his station's winning bid for broadcasting University of Iowa football and basketball games as a "grand-slam home run," that will bring credibility as well as advertising. dent Small Business Employ The previous owners "had done a very good job in terms of what they had to work with," Johnson said. But the station had an image that was "non-existent," he said. Duchossois changed the call letters, moved the station to its current location on Fleur Drive and spent nearly $2 million on equipment to upgrade the picture and strengthen the broadcast signal. Grieve said KDSM has a good chance of making it.

There's room in a market the size of Des Moines for a fourth commercial station. Where stations have flopped in Chicago, Philadelphia and other big cities, there was more than one independent station, be noted. "I would hate to be the second independent in Des Moines, he said. New Stations Unlikely Johnson agreed. While a couple of investor groups have obtained licenses for independent stations in Des Moines, he said it's unlikely the stations will go on the air.

If another independent joined the fray, "neither of us would make money," Johnson said. As it is, KDSM isn't yet making a bottom-line profit, Johnson said. Rather, it is generating positive cash flow. In the broadcasting business, that means revenue minus operating expenses, but it doesn't subtract interest expenses, be said. Thompson said the key to KDSM's success has been to stay conservative when it comes to buying programming.

Some independent stations have paid exorbitant fees for programs and then found themselves unable to recover the costs through advertising rates. As big a deal as was the Hawkeyes package estimated by a rival at about $270,000 Thompson said KDSM didn't pay any more than it could afford. "We are comfortable that we can price this to advertisers and still make money," he said. "Cosby" Reruns Similarly, KDSM took a businesslike approach to the recent tussle for reruns of "The Cosby Show," he said. The rights went to WOI, the ABC affiliate, in the biggest bidding war for reruns in Des Moines history.

Thompson said KDSM bid no more than it could afford. "If we went at it as if, 'We've got to have then we would have outbid WOI." Former station manager Don O'Connor, who now runs an independent station in Minneapolis, said losing Cosby "may be the best thing that ever happened" to KDSM. There's no Des Moines by storm. As Briggs said, "They're getting stronger they've got nowhere to go but up." dividends, the lady is down about $574 on her 200-share investment. Her nervousness is understandable but unnecessary, according to portfolio manager Ken Herlihy.

Contrarians He manages money for the Decatur Fund, one of the mutual fund industry's "most successful contrarians," according to the Mutual Fund News Service, a mutual fund information service based in San Francisco. Citicorp's stock has declined because of "all the talk about bad loans," Herlihy told the news service. In fact, the price has been "dragged down far below what is rational," he added. Herlihy calls Citicorp "one of the most powerful and best-run nies in the world." ersBusiness Insurance Association of Mason City. Ray Taylor, Steam Nevertheless, its achievements are boat Rock farmer and businessman; James H.

Ragland, director of fiscal affairs and marketing for St. Joseph worth noting at a time when experts say finding a successful independent is a little like discovering those lost Health and Rehabilitation Center, Ot- episodes of "The Honeymooners" it's something to be treasured. tumwa; Sandy Erdelt, co-owner of Oelwein Landscaping; Duane E. May A spate of bankruptcies has cast a field, president of DeMay Adjustment pall on independent broadcasters na Mason City; and R.D. Aldershof, president of Cedar Rapids Tent and Awning, were elected to the associa tionwide.

Stations have gone into bankruptcy proceedings in Chicago, Miami, Philadelphia, Cleveland, Indi tion's board of directors. anapolis and a few other cities. The Association of Program Distributors said about 30 of the nation's 270 independent stations are in some kind of financial trouble, squeezed between soaring programming costs and a flat advertising market. KDSM officials won't say how much of the advertising they're getting. But Johnson, the Duchossois president, said independent stations typically garner IVz to 2 times their average audience share.

KDSM's audience share averages 7 percent. So KDSM's ad revenue ranges from $2.4 million to $3.2 million, using that formula. Johnson said the station is doing particularly well in key time segments, like 5 to 7 p.m. And its prime-time movie is doing well, too, he said. According to a Nielsen survey, KDSM's share points place the station 43rd out of 179 independents in major markets.

"I think they're in pretty good shape," said O'Connor, the former station manager now in Minneapolis. O'Connor and others familiar with KDSM said the Duchossois ownership will help. "It's a well-financed com- pany," Thompson said. The Illinois-based manufacturing firm has sever- al radio stations, but KDSM is its first TV station. Thompson said the owners hope to i increase their commitment to local public affairs programming, which I for now includes shows on Iowa poli- tics, food marketing and economic development.

"They're in here to stay the course," Thompson said. "They're here as an investment in the Meredith Sale dent than a network affiliate. A network station gets about two-thirds of its shows from the network, Thompson said. Not only that, the affiliate gets paid by the network to run the shows, while an independent has to pay for virtually all of its programs. Fox Entries The exception is the new prime-time programming produced by Fox Broadcasting, the so-called "fourth network," Thompson said.

Fox is paying KDSM and other independents to broadcast the shows, although Thompson said he doesn't know yet how much revenue that will generate for the station. The jury isn't in yet on the Fox lineup. The first Fox entry "The Late Show" with Joan Rivers hasn't exactly dethroned Johnny Carson. "It's doing OK for us," Thompson said of the Rivers program. "We think it's going to get better." Meanwhile, KDSM and other broadcasters must struggle with a sluggish advertising market.

Figures supplied by the National Association of Broadcasters shows that advertising has flattened out in Des Moines, as it has around the country. The four TV stations in Des Moines had combined net revenue (after sales commissions) of $22.7 million in 1985, the last year for which figures were available. The year before it was $22.6 million. Des Moines-based Meredith Corp. discovered just how bad the market it is when it sold its Pittsburgh independent station to Lorimar-Telepictures As for the big banker getting into trouble with bad loans, Herlihy notes that Citicorp's operations are diversified in almost every country, and that is the next best thing to a "God-given guarantee that it will never be allowed to go bust." Herlihy isn't selling Citicorp stock, he is buying.

Citicorp's common stock price shrinkage has not escaped the notice of the group of securities analysts who turn out Dow Theory Forecasts market letter published in Hammond, Ind. "Watch List" Citicorp is on the market letter's "watch list" of stocks that investors should consider purchasing once the next major buying opportunity presents itself in the market. The Dow Theory list is made up of stocks that have backed away from their highs and stocks that have Corp. Lorimar agreed last July to pay $35 million for the station, a price Meredith president Robert Burnett called "an offer too good to turn down." But the final sale price depended on the station's 1986 profits. By the time the deal closed in January, profits had fallen so much that the price skidded 40 percent to $21.25 million.

"A television license is no longer a HARLAN RAY HUNT TAYLOR Co) JAMES H. SANDY RAGLAND ERDELT Jh lit ll DUANE E. R.D. MAYFIELD ALDERSHOF license to print money," said association president Marvin Grieve, presi dent of MGPerin a New York-based distributor of TV shows. Brenton backs interstate banking law Yet Grieve said if anyone can oper way Channel 17 would be able to charge advertisers enough money to recover the cost of such a program, O'Connor said.

The last few years, independent stations have been springing up like ideas for bad sitcoms. A doubling of the number of stations since 1980 created a demand for programs that pushed costs out of sight. Thompson and other broadcasters said the costs appear to have topped out, but a station manager must still be careful. Buying programming is one of the trickiest jobs a broadcaster has and it's a lot tougher for an indepen- ate an independent properly, it's Thompson, who spent 30 years at WHO Broadcasting before becoming Encouraging interstate banking is "a vital step in the state's drive for economic development," the chairman of Brenton Banks Inc. said in a statement Sunday.

William H. Brenton's comments were distributed as Democratic leaders in the Iowa Senate said the issue might be debated this week. KDSM sales manager in early 1986. Thompson took over the top job at KDSM in August 1986. "In practice," Brenton said, "whether Iowa banks expand out-of-state or other banks expand in to Iowa, the competition is increased.

In either case, the opportunity will be enhanced for healthy, well-capitalized banks to provide their services to Iowans." 30 Employees He a good station operator, he remained strong but would be good selections on price weakness "given their solid long-term potential," the market letter said. Noting that Citicorp's common stock price is down around 20 percent from its 52-week high of $63.50 a share, the latest Dow Theory market letter states that the stock is "becoming more attractively priced for new buying." Dow Theory admits that Citicorp's profits will be adversely affected by Brazil's decision to suspend interest payments on foreign debt. Citicorp has a $4 billion exposure in Brazil. Long-Term Opportunity However, the opportunity for investors to make money on Citicorp stock is not over the next two months, but over the next two years, Dow THE REGISTER'S IOWA STOCK LIST Last week's Dow Jones industrial average closed down 40.62 points (1.78 percent) at 2,235.37 Price Volume PE Ratio Earnings and Dividends Pet, change Last Week's Earnings per share Price Volume Earnings and Dividend PE Ratio Pet change last Weed's Earnings per share Pet of 5 Year cated r.o' "ear Shares U-fc Growth Cur- CJose Week 4Wks Date High Low Traded standing Amount Change Rate Yield erage rent I I I I I I I I (000) I I I I Pet. of Shares Shares Out- Year Indicated Dividend Yield 5 Year Annual Growth Rate Last Company and Market 5 Year Last 12 Months Last Close 5 Year Av erage Week Date 4Wks Low Amount Change Traded standing (000) A.

Exxon Stocks of Iowa Companies FedlCompany 5,762 204 589 23.4 92.00 15.2 51.75 28.7 38.25 23.7 50.88 FirestoneTire 2.2 .0 -2 .5 11.7 11.2 31.7 25.4 20.5 86.50 46.38 35.88 44.63 103.00 11.88 GannettCo GenElectrlc 1.25 1.53 .80 1.28 2.21 1.24 19.8 112.88 7 42 4.13 1.13 1.76 5.03 .18 2.56 8.21 3.15 14.9 78.8 NE 10.0 83.3 28.0 131.6 7 23 NC 10 8 -9 -3 5' 25 NC 24.88 9.50 9.75 9.84 27.50 2.69 16.44 34.00 13.25 28.50 1.1 1.0 GenHost GenMills NC 17.2 -66 2.0 1.9 .0 -20 0 -16 7.7 1.0 4.7 2.3 .0 .6 2.1 2.1 19.6 60.0 44.9 50.0 0 7.6 11.4 25.63 54.38 89.75 52.75 69.00 10.5 44.00 86.25 44.38 65.25 2.42 2.32 GenMotors Georgia-Paclfc GraceWR 30.7 19.9 34.9 1,291 5,830 563 1,097 7,722 2,489 1,670 440 3,467 1,316 14.1 NE 4.02-10.34 6.8 10.6 20.7 17.1 11.8 27.4 17.0 8.4 24.2 11.7 9.4 8.5 12.3 10.4 12.9 8.8 13.0 9.8 13.7 GreyhoundCp 33.75 AidCp Art'sWayAAfg Bandaglnc Banksoflowa BrenfonBanks Casey'sGenSt CommtronCp EAACInsurGrp Equitablela Fsllntstlowa Flexsteellnd Hawkeye Bncp HeritComm HON Ind InterslalePwr lEIndsInc lowaResrces lowaSthrnlnc GTECp 36.13 8.9 3.7 8.2 10.4 17.6 4.2 2.5 2.8 2.1 2.4 2.0 2.9 5.8 2.3 4.3 3.9 6.8 2.7 1.6 2.9 4.1 34 2.2 2.9 3.1 .0 50 7.2 .7 38.75 42.59 50.50 41.88 12.63 17.59 8.34 8.06 42.00 13.75 4.00 63.13 49.00 11.25 14.13 6.88 10.00 21.25 3.06 17.25 2.25 32.88 38.00 25.00 23.75 39.13 2025 29.75 25.75 51.25 54.88 37.50 9.5 24 20. Heinz, HJ Hormel IntlBusAAach IntlMultifood 89.5 30.8 2.7 151.75 26.5 161.88 55.63 11,707 44.0 .0 20.3 7.9 84 12.75 17.00 NC NC 25 .39 1.11 50.0 NC 2.6 NC 12.4 7.38 .88 1 .10 NE NC .0 NC NE 65.88 10.38 186 2.21 5.70 13.8 16 2.2 5.7 11.1 60.94 32.38 7 .30 3.44 22.9 -8 .0 15.3 14 2 1" 7.50 7 .29 1.21 NE NC .0 7.8 93 NC NC 448 3.92 .73 46.0 42 ,0 NC 19.3 NC NC 16 .16 .71 NC NC .0 NC 9.7 15.00 4.16 26 .30 .86 53.6 2 4.8 12.9 11.6 23.75 9.00 92 1.01 2.60 118.5 8 4.1 9.4 8.2 5.50 2.06 74 .62 NE NC .0 142.3 NE 20.25 4.88 69 1.44 1.35 32.4 2 2.8 11.0 12 8 19.53 1.00 294 4.40 NE NC .0 40.1 NE 34.25 4.91 536 2.39 NC .1 27.7 NE 45.75 12.00 142 1.38 2.85 17.3 15 2.1 13.6 13.3 31.63 12.00 30 .32 1.65 -3 9.1 8.5 15.2 27.75 12.00 154 1.13 2.13 44.9 -2 8.3 9.1 11.2 47.00 17.75 38 .28 3.91 3.9 2 7.8 7.0 100 27.50 10.63 167 .75 1.97 10.1 1 8.1 8.1 10 3 36.75 10.38 25 .43 2.73 3.0 5 6.7 7.3 10.9 29.00 5.63 140 .56 1.64 35.5 16 2.3 14.3 15.7 51.50 23.75 3 .04 3.58 19 .5 11.5 14.3 61.75 11.13 639 1.47 2.75 3.8 18 3.2 12.1 20.0 41.03 8 72 142 .74 2.36 52.3 4 1.8 6.1 13.2 26.00 8.25 82 .38 1.61 12.6 1 7.1 9.3 12.9 21 50 5.00 0 .03 4.19 NE NC .0 NC NE 43 25 20.00 200 .43 1.74 4 3.0 14.1 198 41.50 11.00 2 .09 3.20 1.9 8 2.5 8.2 10.9 9.13 3.31 242 2.76 .15 NE NC 1.0 17.5 33.3 23.88 2.75 490 1.91 .85 57.4 25 1.7 21.8 13.8 28.75 34.88 45.00 31.1 5.2 1.6 Kiddelnc MnMarietta MinnMngMfg 10.8 .8 .6 2.9 .3 1.2 .7 1.3 .7 10.7 1.4 .6 4.7 .0 3.0 69 3.4 .6 12.4 17.8 14.4 126.25 83.50 Theory said. By that time, Citicorp should have cleared up some of its loan problems and the effects of continued domestic expansion should be "positive," the market letter said. Dow Theory suggests that the way to deal with any more Citicorp stock price weakness is to buy more of the stock for "good total return." Total return is the investor's take from a stock. Capital gains, if any, and dividends are included.

Citicorp is doing its part, having just raised its quarterly dividend with the May 11 payment to 67 Vfe cents a share, from the previous quarterly dividend of 61 Vfe cents a share. The company reported last week that first-quarter earnings from operations were equal to $1.72 a share, down from $1.87 a share in the like period a year ago. Citicorp said the latest quarter's results reflected $53 million after-tax charge resulting from the placement of $3.8 billion of loans to Brazil on 18 2 2.6 1.5 7.9 MonsantoCo Navlstarlntl NorwestCp 18.6 31.75 11.6 38.50 16.5 52.25 8.3 139.75 9.2 87.38 39.5 14.75 42.75 25.5 42.00 20.3 34.50 28.5 105.00 12.9- 46.13 NE 9.9 LeeEnterprs Lifelnv MaytagCo OccldPetrol PaylessCash PlllsburyCo PlttDesAAoines .94 1.05 .99 .12 1.93 .59 .60 1.23 2.08 2.55 2.73 .81 1.78 1.32 1.28 1.48 .02 1.28 1.27 1.93 1.01 2.31 .89 1.92 .76 1.92 3.25 1.09 1.69 1.20 4.12 3.46 2.38 1.80 7.46 3.64 1.12 3.63 7.08 5.79 3.64 .66 1.25 7.06 2.38 .05 4 44 3.01 5.41 5.10 4.33 2.21 3.85 1.59 .99 195 2.42 3.67 .5 .5 -9 .0 .7 .0 2.2 3.7 2.6 .0 3.5 16.1 5.0 7.3 40.9 15.0 5.3 2.2 24.50 98.38 MeredithCp MwestEnergy NWnStPort Pioneer PreferredRisk StatesmanG Winnebagolnd 31.13 20.75 7.75 34.50 34.75 5.00 11.75 QuakerOats RalslonPurina 66.1 NE 13.9 79.3 19.4 NE 13.8 9.6 33.0 4.4 NE 7.5 51.3 20.2 10.9 11.0 13.9 11.6 89 241.4 712.5 39.8 -283 NE NE 1.0 1000 NE 146.7 4.8 6.63 36.00 34.50 23.00 92.88 38.25 22.50 86.75 43.88 79.00 75.13 28.25 43.50 52.25 35.38 26.00 87.00 58.00 74.38 6 NC 12 8 5 0 -19 NC 4 NC NC -6 20 8 3 11 NC -2 14 18 6 16 11 10 12 -29 NC -8 18 NC 17 NC 9 NC NC NC NC NC 21 0 NC RaytheonCo Rockwelllntl Sara Lee .7 .4 .0 Stocks of Iowa Interest 127 673 2,381 1,979 6,419 249 2,868 457 958 1,275 1 2,153 992 1,469 760 3,331 954 7,164 314 556 512 204 1,027 1,775 515 5,706 997 1,129 2,574 5,226 17 1,446 2,128 136 1,123 .7 .5 9.91 48.75 28.31 2.75 17.00 17.00 7.63 27.25 9.22 10.50 38.88 8.00 10.88 28.25 6.13 7.44 15.75 8.25 15.38 12.50 23.25 14.31 22.88 17.25 10.91 10.75 29.25 29.63 15.13 6 50 NC 15.75 10.25 4.25 Allied-Signal Allis-Chalmers 4.1 18.4 13.6 9.7 11.7 11.7 27.9 28.4 31.4 38.0 3.0 50.0 8.9 29.1 19.3 25.0 9.9 NC 9.5 23.3 17.7 9.1 10.8 155.3 13.0 11.0 11.8 11.5 4.6 10.2 100 13.4 52.4 45.9 15.2 12.4 7.6 10.5 11.5 6.4 14.0 12.4 77.1 9.7 NC 33.0 11.5 2.8 NC 19.38 49.00 94.88 NC 50.88 83.88 84.00 61.88 49.13 56.00 39.88 34.63 95.50 64.50 84.75 50.50 71.88 33.13 31.75 80.50 Sears, Roebuck Snap-OnTIs StaleyCont SloneContainer SundstrandCp SyntexCorp Tenneco AlumCoAm AmHomeProd NC 18.4 13.2 16.1 NC 19.5 14.6 14.6 14.7 6.5 19.7 13.6 22.2 26.3 44.6 24.0 20.3 NE 10.5 4.7 9.2 NE NE NC 12.8 9.7 19.3 12.6 9.6 6.5 38.0 8.0 -3 5 2.7 306 3.2 2.6 .0 3.1 1.8 1.6 2.4 4.7 2.3 3.8 1.8 3.1 .9 3.1 2.7 6.7 2.9 5.3 7.2 2.9 1.4 6.8 68 3.2 .0 42.75 2.50 46.75 83.00 24.13 18.88 18.13 11.13 65.00 46.63 1.6 -25 85 3.1 9.9 47 5.6 -5 11.3 23.38 24.13 45.63 36 ArchDanMid ArmtekCp BrockHolel Textron 32.8 875.00 22.1 82.38 16.2 55.38 1.30 4.47 BurlinglonNrlh Caterpillarlnc UnlonCarbide 5.95 6 04 2.89 NC 2,742 1.57 3.41 NE NC 4.2 NC 12.5 2.13 158 1.09 NE NC .0 NC NE 21.88 3,480 3.99 3.63 NE NC 2.6 14.8 12.9 33.25 1,784 1.19 5.33 10.6 10 4.0 12.5 15.6 NC 10,341 .96 .14 90.8 NC 5.0 NC NC 6.41 2,614 1.60 1.58 38.6 4 .5 13.3 11.9 7 00 146 1.50 3.54 100.0 NC 2.6 7.6 NE 6.25 107 1.63 NE NC .0 35.8 NE 17.13 1,338 1.81 100.0 NC 3.1 6.8 NE 28.38 1,253 1.27 .77 NC 1.1 38.8 NC 1225 458 2.83 2.31 NE NC .0 16.9 10.0 9.91 4,467 1.15 2.49 31.7 14 2.7 12.7 16.9 5.59 887 1.34 1.77 21.2 17 2.2 12.8 15.0 4.50 144 2.69 .45 39.2 10 .0 19.0 18.9 13.19 1,585 1.63 3.52 20.5 15 2.2 12.7 11.8 20.75 1,012 1.49 5.82 100.0 NC .9 119.4 NE 12 25 186 1.56 100.0 NC .0 14 8 NE 29.25 648 .85 4.65 13.4 18 2.5 20.5 25.8 22.75 631 2.01 4.79 26.5 NC 2.5 11.2 16.9 21.00 489 1.10 .21 -40 5.3 47.8 NC 11.6 CNWCorp CocaColaCo -40 4 non-accrual status. Excluding the Brazilian loans, first-quarter income would have been $2.09 a share, the company said. Jim Lawless cannot answer mail individually but he will answer selected investment questions in this column.

Write to him at The Des Moines Regis UnlonElecCo UnionPacitic UnisysCp UALInc UtdBrands USWest 42.2 120.00 32.1 74.75 1.07 5 62 .27 10 43 .25 .11 3.38 62.25 28.13 26.50 69.50 113.75 69.00 43.25 48.50 28.38 25.13 10.13 90 53.88 49.00 34.00 17.13 58.50 108 11.3 15.3 158 -2 8 10.9 2.6 10.3 9.1 14.0 5.0 16.9 -8 6 2 3 23.00 42.00 26.63 8.50 41.50 26 50 22.25 ConAgra CycareSysl OaytonHudson DekalbCp 30.1 11.3 6.9 12.5 50.00 NC 31.63 3025 14.63 .76 2.16 1.20 1559 4.99 1.47 1.99 1.06 42.38 29.50 UtdTelcom UnivFoods WilsonFoods NC 55.5 NE 27 I 5.3 6.2 .0 -93 3.5 9 120 00 80.88 46.38 14.0 136 38 9.7 85.75 17.4 54.63 EalonCorp EnronCp Market codes: New York Stock Exchange: A-Ahierican Stock Exchange; O-Over-the Counter. Earnings codes: NA-not applicable; NE- ter, P.O. Box 957, Des Moxnes, 50304. Readers are reminded that brokerages may have investments in the stocks they recommend. negative earnings; NC-cannot be catailated; -Based on first-quarter earnings; S-six months; N-nine months.

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