The Honolulu Advertiser from Honolulu, Hawaii • 18

A16 Wednesday, Jtnutry 8, 1992 Hie Honolulu Advertiser MONEY Dow up 4.70 Trade heavy Bonds stronger U.S. rice would be cheap in Japan Today's Briefing Judge OKs USAir's market swamped by foreign-rice, as the U.S. auto market is. with Japanese Imports, Willis: said. 1 One reason is that most U.S.

varieties of rice lack the subtle flavors and arcmas preferred in-Japan, said Steve Linscombe, a geneticist at the Rice Experi-. ment Station in Crowley. U.S. farmers grew about 7.9 million tons of rice this year. About 4.6 million tons are consumed in this country, said Bill Dore of the Rice Miller's Association.

He estimated that at most 100,000 tons could go to Japan. boards read. "Our farmers find It hard to understand that they use Japanese products very fine products at home and on their farms, but at the same time they cannot sell their products to Japan," said Jim Willis, vice president of foreign marketing at the U.S. Rice Council in Houston. "We understand that in Japan rice is culturally, economically, in every way a most sensitive issue," Willis said.

"But so were so many products in the U.S. Certainly, Detroit understands that quite well." Japan's rice farmers aren't likely to see one-third of their it must remain self-sufficient in staple food. President Bush, on a four-day state visit to Japan, is asking that the import ban be eased. Hundreds of farmers rallied against that proposal in at least, two Japanese cities yesterday, the first day of Bush's visit. Strong opinions also have been voiced in Louisiana, the nation's No.

2 rice-growing state after Arkansas. The Rice Miller's Association and the Louisiana Rice Growers bought six months' worth of billboard space along interstate highways during the summer and fall. "Why buy Japanese? They won't buy our rice," the bill Associated Press NEW ORLEANS U.S. rice could sell as well in Japan as Japanese cars do in this country, and for the same reasons, experts said yesterday. "We have good food at a cheaper price.

They have good cars at a cheaper price," said Ralph Cowen, president of the Louisiana Rice Production Board. American farmers get about $8 for 100 pounds of the same sort of rice that Japanese farmers sell for $40. But Japan, where 10 million tons of rice are eaten every year, bars rice imports, saying KORL-AM to he reborn as all-news station An investor group to include former Gov. George Ariyoshi and homebuilder Tom Gentry will bring radio station KORL back to the air in an all-news format. Newly formed Coral Communications Corp.

said yesterday it had purchased the license and other assets of the station 650 on the AM dial effective Dec. 30. The station, which entered bankruptcy in 1987 and went off the air in 1989, is to resume broadcasting by the end of February, the announcement Schaller, television producer Rick Takemoto and former Mainland broadcasting executive Tony Cassara. Cassara in 1989 led a California partnership that struck a deal to acquire KITV Channel 4 in Honolulu, for $45 million, but that deal fell through due to disagreements over financing. KORL's basic programming will be the audio portion of CNN Headline News, the cable TV channel that broadcasts half-hour news summaries round-the-clock.

said. The station will be the exclusive radio affiliate in Hawaii for CNN Headline News and will carry local news coverage as well. Currently Coral Communications has but one stockholder, Los Angeles lawyerinvestor George Vandeman, who will also be its president. The proposed other stockholders, whose names have been filed with the Federal Communications Commission, include besides Ariyoshi and Gentry KITV General Manager Dick Studios will be at 850 Richards St. in space formerly occupied by radio station KHFX.

For local news, the station will employ its own reporters, said Cassara, who has moved to Hawaii and will be the company's chairman. The proportion of local news will depend on the extent of breaking local stories, he said. KORL, whose history dates back 46 years, tried a number of formats in the years before its bankruptcy, among them contemporary Hawaiian music. Continental buyouts A bankruptcy judge in Wilmington, approved Continental Airlines proposal to sell a portion of its operations in New York and Washington to USAlr for $61 million. Under the agreement, USAir will acquire Continental's 62 arrival and departure jet slots, 46 commuter slots, the East End Terminal now under construction and a flight kitchen at LaGuardia Airport in New York.

USAir also will acquire six Continental slots at National Airport in Washington, D.C.. and will assume a $200 million bond Issue that's financing construction of the terminal at LaGuardia. 2 groups 'reject' trade agreement The U.S. pharmaceutical and textile industries rejected the draft agreement for the Uruguay Round of global trade talks, and said they would oppose it in Congress unless there are major changes. While the Bush administration has long expected that textile manufacturers would oppose the lifting of import quotas under the round, the pharmaceutical industry is viewed as a small but key player in building U.S.

support for an agreement. (Hawaii's textile industry depends largely on fabric imports and opposes the more restrictive quotas favored by Mainland textile manufacturers.) Book links Trump to the mob Poors the other major credit rater, lowered its opinion of the creditworthiness of Chrysler and its financing subsidiary. Europe's carmakers in low gear, too If Detroit's automakers thought they endured a painful 1991 in the United States, their brethren across the Atlantic didn't do much better. Excluding a flourishing business in Germany, the major European automakers, including the subsidiaries of Ford and General Motors, suffered the second straight year of stagnating sales, industry figures showed. The outlook for this year is worse.

That contrasts sharply with the boom in the '80s. Postmaster general resigning soon Postmaster General Anthony Frank will resign Feb. 28 to return to private business, he announced. Deputy Postmaster General Michael Coughlin is the leading candidate from inside the Postal Service to replace him, Frank said. But he said the search would consider people inside and outside the agency.

Frank, former chairman of First Nationwide Financial a San Francisco-based savings bank, said he will return to San Francisco to become chairman of Acrogen a biotechnology company he helped found. China threatens punitive tariffs China threatened to impose punitive tariffs on roughly 25 percent of the items it imports from the United States if Washington makes good on its threat of sanctions against Chinese-made goods. China is "considering counter-retaliatory duties" on U.S. commodities totaling fuDLIU 3 AUCTION If a career position in computers is your goal, think Hawaii Pacific! Enter the field as a professional in such areas as: a SYSTEMS ANALYSIS CORPORATE INFORMATION PROCESSING DATA PROCESSING MANAGEMENT PROGRAMMING SATURDAY, JANUARY 11, 1992 10 AM BY ORDER OF U.S. BANKRUPTCY COURT TRAVEL TOUR COMPANY: 1981 Cadillac Seville wVery Low Mileage 1984 Honda Accord 1985 Chevy Celebrity Wagon ComputersMonitorsKeyboards Printers Telephone System Electric Typewriter Glass Upholstered Office Partitions Koa Conference Table Hardwood Metal Desks Office Secretarial Chairs Wall Art File Cabinets Metal Storage Cabinet Drop Safes Steel Shelving Pallet Racks Rolling Ladders Tens of Thousands of Travel Attend our FREE seminar.

NO RESERVATIONS NEEDED. You will be surprised at what you can learn in 45 minutes. THURSDAY, JANUARY 9, 12:15 p.m. 1166 Fort Street Mall, Room 203 For more information, call 544-0238 A new book links Donald Trump to the mob. Although the developer denied the allegations, a state casino investigator was planning a trip to the bookstore.

"Trump: The Deals and the Downfall," by Village Voice investigative reporter Wayne Barrett, hit stores Sunday. A Bags, Seat Cushions, Luggage Tags Promotional Materials and more. Everything Goes to the Highest Bidder! INSPECTION: Saturday, January 11 8 to 10 AM or By Appointment 1733 Republican Street (Off Kallhl Street Below Nlmltz Hwy.) FRIDAY, JANUARY 17, 1992 NOON TO 6 PM SATURDAY, JANUARY 18, 1992 10 AM TO 4 PM ENTIRE INVENTORY OF JEWELRY MANUFACTURER RETAILER: Rings, Bracelets, Earrings, Chains Loose Gem Stones incl. Diamonds, Rubies, Emeralds, Sapphires, Opals, Pearls, Amethysts, Aquamarines, Topaz, Lapis, BlackRedPink Coral, Cubic Zirconia, Faux Jade, Faux Peridot, and more. ITEMS TO BE SOLD INDIVIDUALLY AT COST OR BELOW.

LARGE DISCOUNTS FOR PURCHASES. McCLAIN ASSOCIATES AUCTION HOUSE 550 Queen Street Kakaako state official said several charges it makes already had been investigated. But others FREE INVESTMENT CONFERENCE HSCCR CLASSIC COINS HAWAII PRESENT Douglas Ho id? 1 1 1 $1.2 billion, said an official of the Ministry of Foreign Economic Relations and Trade who did not want to be identified. The exact amount of the proposed tariffs was not disclosed. Targeted items would include U.S.

aircraft, cotton, corn, steel and chemicals, he said. United drops one of 2 Chicago flights United Airlines will drop one of its two daily flights from Chicago to Honolulu on Jan. 14, the carrier said yesterday. United said it still will have 14 daily flights from the Mainland after the schedule change. The airline said it plans to add another flight between San Francisco and Maui in March.

"Hard Asset" Newsletter Editor 0 Estate Planner Former Wall St. Securities Analyst It "HOW TO BEAT THE RECESSION are new: an alleged meeting, for example, in 1983 between former mob boss Anthony "Fat Tony" Salerno and Trump. Credit ratings dip for GM, Chrysler The credit ratings of General Motors Corp. and Chrysler Corp. were lowered, casting additional doubt on the ability of the U.S.

auto industry to recover from its slump. Moody's Investors Service Inc. dropped its opinion a notch on debt issued by GM and its finance arm. Standard UPCOMING AUCTIONS JANUARY 25, 1992: Top Quality Matching Store Fixtures Displays, Restaurant Bakery Equipment, Tools, Shop Equipment Building Supplies. FEBRUARY 15, 1992: Bankruptcy of Antique Dealer incl.

Asian Antiques Collectibles, Rosewood Furniture, Religious Artifacts, Porcelains, Crystal, Scrolls, Paintings, Bronzes, Cloisonne and much much more. FEBRUARY 16, 1992: Unique Collection of Contemporary Custom Italian Furnishings incl. Merano Crystal Chandeliers (4), Merano Glass Mirrors, Gold Leaf Dining Table Chairs, Gola Leaf China HutchBuffet Curio Cabinet, Silk Leather Sofas Chairs, Four-Post Sleigh-Style Beds wMatching Night Stands, Marble Tables, Chests Lamps, Black Lacquer Yamaha Piano, David Lee Yamagata Lithos and more. Must Seel Also Large Corporate Art Collection, Victorian Gothic Sideboard Buffets, Jewelry, Coins and much much more. FEBRUARY 29, 1992: Construction Equipment Late Model Automobiles in Guam I Toplts Include: Predictions en Today's Economy Slock Bond Markets Roal Estato Values Investing, Banking Inflation ALA MOANA HOTEL PM TUES.

JAN. 7 Pakalana Room THUR. JAN. 9 Anttiurium Room FOR INFORMATION Call (808) 538-7227 McClain Associates Liquidators Appraisers Auctioneers CALL 533-0399 for reservationsinformation PRESENT HIS AD TO RECEIVE COMPLIMENTARY GIFT Interstate branches be converted Feb. 18 ONE-YEAR CERTIFICATES The 14 remaining branches of First Interstate Bank of Hawaii will be converted to First Hawaiian Bank branches on Feb.

18, three months ahead of a federally imposed deadline. The conversion will increase First Hawaiian's statewide branch count to 62. Five of those, however, are due to be sold to a newly formed investor group, which is organizing Royal Pacific Bank as a federally chartered bank to make the acquisition. Under terms of an antitrust settlement with the Justice Department, First Hawaiian Inc. agreed to divest six branches those in Kona on the Big Island, Hawaii Kai and Kailua on Oahu, Lihue on Kauai, and Wailuku and Lahaina on Maui.

The Kona branch already has been sold to Central Pacific Bank. The sale of the five other branches is expected to close in mid-1992 after receipt of final regulatory approvals and upon capitalization of the new bank, First Hawaiian said. The same antitrust settlement required First Hawaiian Inc. to surrender the First Interstate Bank franchise by the end of May, so that the franchise might be made available to a smaller competitor. First Hawaiian holding company for First Hawaiian Bank, completed the acquisition of First Interstate of Hawaii holding company for First Interstate Bank of Hawaii, at the end of May 1991.

HIP 1 $25,000 and above 1JII $15,000 IJIP 37,500 to $14,999 UIP $2,500 to $7,499 HIP I $500 to $2,499 -SHIP ARRIVALS AND DEPARTURES Wednesday, Jan. 8. 1992 Finance Factors offers competitive rates on certificates of deposit. The choice is yours. Visit your nearby Finance Factors Branch Office today or call 522-2000 (neighbor islands call collect).

'-'itnt VmmI From ETA ETD Berth Destination i lurim PetrobulK Power 0200 St B.C. Henry Sr. NawfflwH 40 Fukujln Maru fishing 0700 32 Joseph Saute 0700 31 DMA" Pacific Princess Mexico 0745 2400 10 Tahiti MN Ocean Service HDo 0830 1830 S3 NawWwHI DSN YTB 614 Pearl Herb. 1000 1500 41 Pearl Harbor HA AsaM Maru 10 1200 40 fishing MN M. Catherine noon 51 Hilo HA Takamye Maru fishing 1300 32 LSA Ganta Japan 1500 1 MN Kaimoku Lot Angel.

1700 53 SB Joseph Sauee 2000 Coos Bay SLS Sea-Land Producer Long Bch. 2130 51 NMA TenyoarS Maru p.m. 2 hshtng NMA Explorer pm. 2 fishing 1 r. Finance Facfors Member FDIC Each depositor insured to $10a000bytneFDtC.

Rates are simple interest per annum. Substantial penalty lor early withdrawal. Serving Haws for 40 Wars.