St. Louis Post-Dispatch from St. Louis, Missouri • Page 48

llbD BUSINESS ST. LOUIS POST-DISPATCH FRIDAY. DECEMBER 3, 1993 Personal Spending Trillions ot dollars, seasonally adjusted annual rale 4. Consumer Spending Up 7th Month In Row New Boats In The Pipeline For 2 Casino Operators 4.50 4.45 4.40 4.35 4 30 mill 4.25 4.20 1 500 Smurfit Workers Hit In Closings LOCKLAND, Ohio (AP) Jefferson Smurfit Corp. said Thursday that it will close two plants in Lockland on Jan.

1, eliminating 400 jobs. The com- pany also is closing a Chicago box plant employing about 100 people. The St. Louis-based compa- ny, a subsidiary of Jefferson Smurfit Group PLC of Dublin, Ireland, said the closings are part of a restructuring. In Lockland, Smurfit's pa- perboard mill uses recycled pa- per to make box board.

Its folding carton plant makes a variety of boxes for consumer products, such as cereal. Lockland is a suburb of Cincinnati. 4.15 4.10 By Fred Faust Of the Post-Oispatch Staff Two casino companies are acquiring new boats. Argosy Gaming owner of the Alton Belle, has signed a contract for a $13 million riverboat casino. It's intended for use at Argosy's site in Riverside, a suburb of Kansas City.

Alabama Shipyard a subsidiary of Atlantic Marine, is expected to complete the vessel by next summer. Argosy hopes to get a Missouri license early in 1994 and will use the original Alton Belle until the new boat is delivered. The new boat will have 30,000 square feet of casino space. The original Alton Belle has 6,100 square feet. Another likely operator of a Missouri casino, Station Casinos will pay $13.7 million for a boat under construction at Houma Industries in Louisiana.

Station owns the Palace Station in Las Vegas and is developing St. Charles Riverfront Station. The boat, due for completion April 1, will have 22,500 square feet of casino space. Station is acquiring it from Kehl River Boats Inc. Robert Kehl is a veteran Iowa operator of excursion and gambling boats.

Station also bought its first boat from Kehl. The Casino St. Charles, now being renovated in South St. Louis, used to cruise the Mississippi River as the Dubuque Casino Belle. Station has no immediate need for another boat.

But given the lead time for construction, the company said, it just wanted to be ready to move fast. "The purchase of this riverboat enhances our ability to get into business quickly in new jurisdictions," said Frank Fertitta III, chief executive of Station. "The boat can be used to expand the capacity of our project in St. Charles or in other jurisdictions, such as Evansville, Ind." Consumer spending rose 0.8 percent to a seasonally adjusted annual rate of $4.47 trillion after a revised 0.4 percent rise in September. But not all was rosy in the economic reports issued Thursday.

The government said Americans saved $177 billion in the month, down from $185 billion in September, a very low level that economists find extremely disturbing. On another front, crude oil prices fell again Thursday to their lowest level in five years on speculation this winter might be mild. January oil lost 53 cents, ending at $14.95 per 42-gallon barrel on the New York Mercantile Exchange, the cheapest since November 1988. Unleaded gasoline also fell sharply, losing 0.99 cent at 41.61 cents a gallon and heating oil was off 1.36 cents at 45.82 cents a gallon. Weather forecasts suggest that 1993, Reuters News Service WASHINGTON Americans Tpntinued their spending ways for the seventh month in a row in October, aided by a healthy increase in personal income, the Commerce Department said Thursday.

2 At the same time, workers seeking unemployment benefits in the latest week fell by 17,000 to 321,000, the lowest level in two months. Even a 6.5 percent drop in new home sales in October from Septem-jber did little to discourage the idea 4hat economic growth in the fourth -quarter would meet or exceed 4 percent, up from 2.7 percent in the third Quarter. Personal income, moving ahead for third month in a row, rose 0.6 percent after a revised 0.1 percent jase in September and brought the 'seasonally adjusted annual rate to trillion. ND FMAMJJASO 1992 1993 Oct. '92 Sept.

'93 Oct. '93 4.24 1 1 4.44 4.47 Source: U.S. Dept. of Commerce AP December may not be too cold in the United States while a recent Arctic snap in parts of Europe is giving way to milder weather. Retail fL TOSHIBA I I LTEtV Kawfel SS M.

sag0-- JQ(o)bay fSSsF a 1 tmm is--s 1 IMf I 'Mtt Jm 605 4 80 Presario 425 Combo Unit rTmii jfij--A PS1486DX250 25 MHz i486SX 4 MB RAM 200 MB SSSSl 31 PfeS55 T4iJ gf soundarVut-insforallAppl 340 MB HD. Combo FD Windows 3 6.0 Mouse Ml lllSifeBgUd jfigfetS UyJ8SS-- Macintosh displays. 4 MB RAM teOTWiy Keyboard Mouse nam 'PFSiWinWoita 2.0 -QuickenWin. jfmmmnK.imm a gyp Eg rtEtoM expandable to 36 MB 80 MB HD 25 MHz K.g I (Mptdy.) -Phone Answering System e03862 la.gl "A agBgte EgefPflrVe'WgS K3456I M.kytsoUq-rc!r) COkPUPtWEj I i COMPAQ. Packard bell Notebooks i Printers From page nine partment Stores Co.

showed a 2.1 percent gain in same-store sales, with overall sales of $1.02 billion, a jump of 5.4 percent. May Co. is the largest department-store retailer in the country, operating such chains as Famous-Barr, Hecht's and Lord Taylor. It also runs the Payless Shoe-Source chain. Edison Brothers Stores which operates specialty chains in malls, said its overall sales declined by 8.2 percent to $10.6 million.

Its chains include Bakers, J. Riggings, Oaktree and Time-Out. The company does not release same-store sales. Among retailers based elsewhere: Wal-Mart Stores Inc. reported same-store sales up 4 percent and Overall sales up 18 percent.

Kmart Corp. same-store sales up 1.7 percent; overall sales up 6 percent. Sears, Roebuck and Co. Sgme-store sales up 7.9 percent; overall sales up 7.7 percent. Dayton Hudson Corp.

same-store sales down 5.4 percent; overall les were flat. J.C. Penney same-store sales up 12.3 percent at Penney stores only; overall sales up 13.7 percent. Post-Dispatch wire services contributed information for this story. Coal 1 C-J .33 MHz 486SX 4 MB RAM 200MB MTriiilnTliTlincliulM1 lln EPSON' 33 MHz 486SX 4 MB RAM 200MB fvEontosh 1 Precision 433Si 33 MHz 486 4 MB RAM 3K" FD 230 MB HD Keyboard Mouse MS-DOS 6.0 Windows 3.1 ActionNote 486SLC33 Take the power of your desktop along with you! 33MHz486SLC'4MB RAM 120 MB HD 1.44 MB FD 486SX33 Computer 33 MHz 486SX 4 MB RAM 2 10 MB HD 1 .44 MB FD Video Card Mouse Windows 3.1 MS DOS 6.2 ClarisWorks Turbo Tax Rolodex Software Optune Back It Easy for DOSWin.

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They don't comment on sales and earnings. Four Arch mines in Illinois employing 600 UMWA miners are on strike. Three Arch mines in Kentucky and West Virginia have been struck. Five Zeigler mines in Illinois have been struck by 1,000 UMWA members. About 300 UMWA miners are striking two Zeigler mines in Indiana.

Illinois coal production has plunged by 29.5 percent to 36.3 million tons for the 12 months ended Oct. 31, says the Illinois Department of Mines and Minerals. For the same period last year, Illinois mines produced 51.5 million tons. The strike can't be blamed for all of the loss in production. Two nonunion mines, employing 334 people, closed this year.

Two struck mines, employing 456 people, closed during the strike. Six mines in Illinois struck by the UMWA have continued some production with management personnel. Fifteen mines, unaffected by the labor dispute, remain active. Post-Dispatch wire services contributed information for this article. Apple Macintosh Quadra 610 8160 Ideal for business and professionals.

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TDII's bankruptcy petition listed $759.5 million in assets and $1 billion in liabilities. It lost $88 million last year and $147 million in 1991. The company filed under Chapter 11, a bankruptcy law provision designed to hold creditors at bay while a company reorganizes. nThe company is now paying 12 and 15 percent interest on much of its debt. The company said it is not behind on its interest payments and could keep paying at least through late next year.

It decided to restructure now to take advantage of low interest rates, the company said. TDII's debt is "currently very manageable," Chairman James N. Mills said in a press release. He said Affie Conputa. Inc.

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