The Journal Times from Racine, Wisconsin • 8

the Journal Times WEDNESDAY Oct. 18, 1989 IxJHB Unchanged jf" Down413 I 931 8A Business Today Zata's byflldoog to be sold? James Goldstein said the option applies to a four -story building at 500 Monument Square and a two-story annex next door. Both have been vacant for eight years. A third building, leased to Household Finance is not part of the arrangement. Goldstein said he doesn't know if the option holder will be successful in developing the property but the buyer's experience and willingness to put up money is encouraging.

The option includes several potential time extensions, Goldstein added. The Goldsteins haven't actively marketed the buildings but they have responded to all By Paul J. Holley Journal Times A possible buyer has emerged for the former Zahn's building on Monument Square. James Goldstein of Goldstein Properties, Santa Monica, confirmed this week that a six-month option to buy has been granted on two of the three properties. He would not identify the individual or company involved.

Zahn's, a long-time Downtown department store, closed in 1981 when its owner, Chandler Copps, filed for debt protection under federal bankruptcy law. The buildings continued to be owned by Nanette Goldstein and her son, James. "We've been waiting for the some of the proposed developments to get under way," James Goldstein said. Earlier this year.the Zahn's buildings were mentioned as a possible "one-stop government center" by Sen. Joseph Strohl, D-Racine.

He suggested that the state attract a private developer to renovate the property who would then lease about 25,000 square feet to the state and the rest of the space to federal offices and private businesses. The property was toured by James Klauser, Department of Administration secretary. The proposal is still being studied. Brewer sues to stop Coors-Stroh deal Tenneco to repurchase stock Tenneco Inc. announced Tuesday that it will start a $300-million stock repurchase program immediately.

The Houston, Texas-based company said the decision was made in response to current stock market conditions. Tenneco common stock lost nearly $4 per share in last Friday's downturn in the New York Stock Exchange. Tenneco reported in a news release that it will buy shares on the open market until Oct. 24 when it will start an offer to purchase blocks of fewer than 100 shares (odd-lots) from individual shareholders. The open market purchases may again start after the odd-lot purchase program ends Dee.

11. Tenneco is the parent company of J.I. Case Co. and Walker Manufacturing Co. of Racine.

Grand opening Thursday The grand opening of the second phase of the Lakeside Marketplace outlet center in Kenosha County will be held Thursday. The new addition brings Lakeside's space to 152,800 square feet. Lakeside Marketplace, located at Interstate 94 exit 347, has 44 tenants. Center developer McArthurGlen of Washington C. reported in a news release that the addition cost $8 million and is expected to generate annual sales of $20 million.

The developer plans to build another 108,100 square feet of retail space at the site in the fall of 1990. Recycled copier paper sought PORT EDWARDS, Wis. (AP) Nekoosa Papers Inc. is running trials on copy-machine paper made of 50 percent recycled paper something no other major manufacturer has yet accomplished. Company president Arnold Nemirow said the company's research and development office is attempting to develop a copier paper comprised of 50 percent recycled, post-consumer, uncoated, free-sheet paper, the type manufactured by the company's Port Edwards and Nekoosa mills.

Test runs are being made on the paper machines, but fine tuning is necessary before the goal of marketing by the end of the year can be reached, Nemirow said. If the product is successfully developed and marketed, NPI would be the first major U.S. manufacturer of a copier paper with 50 percent recycled composition, said Nemirow. The recycled copier-paper market has offered paper with about 10 percent recycled composition, he said. 0 MILWAUKEE (AP) The parent company of Milwaukee-based Pabst Brewing Co.

and three other small brewers has filed a lawsuit claiming the sale of Stroh Brewing Co. to Coors Brewing Co. will hurt competition. of Mill Valley, claims in the lawsuit filed Monday in U.S. District Court the proposed merger will drive smaller companies out of business a contention Stroh officials denied Tuesday.

St. Louis-based Anheuser-Busch Cos. holds an estimated 43 percent of the U.S. beer market, followed by Milwaukee-based Miller Brewing Co. with 21.8 percent, Stroh with 10 percent and Coors with 8.7 percent.

is also parent company of Pearl Brewing Falstaff Brewing Co. and General Brewing Co. "The absorption of Stroh by (Coors) in conjunction with the imminent failure of Heileman (of La Crosse, Wis.) will cripple the second tier in the brewing industry, dramatically reducing andor ultimately eliminating price competition, rendering unable to compete and increasing prices to consumers," the suit said. Coors and Stroh announced plans last month for Coors, to buy most of Stroh's beer-making operations. attorneys said at the time they would challenge the move.

A Coors-Stroh merger would create a "tripoly" of beef companies that could act in collusion to use reduced-cost and below-cost pricing to drive smaller companies out of business, the suit said. After running smaller brewers out of business, the "Big Three" then could raise prices as they wished, according to the scenario outlined in the suit. Antitrust experts said earlier the merger as proposed may be turned down by the Justice Department, although they predicted approval of some type of combination of the companies. Folding cart may be hung on wall for storage. Racine firm introduces folding lawn-utility cart Eau Claire brewery to be auctioned today 'Waited too long' WASHINGTON (AP) A top federal bank regulator strongly suggested Tuesday that the government waited three years too long before trying to contain the nation's costliest savings and loan failure.

L. William Seidman, chairman of the Federal Deposit Insurance also revealed that the FDIC is investigating the legality of political contributions to five senators from the principal owner, Phoenix millionaire Charles H. Keating Jr. Keating, chairman of American Continental the parent company of Lincoln Savings and Loan Association of Irvine, made large campaign contributions to Sens. Alan Cranston, Dennis DeConcini, John McCain, John Glenn, D-Ohio, and Donald W.

Riegle D-Mich. In April 1987, the five met with regulators on Keating's behalf. The FDIC chief said that if his agency had been regulating Lincoln it would have sought in 1986 to take over the institution. Fuels to be tested WASHINGTON (AP) The auto and oil industries, faced with government proposals to replace gasoline with alternative fuels, said Tuesday they will jointly conduct a scientific runoff to determine which fuel cuts air pollution most cheaply. Final results from the research and testing program are not expected before next July, but the companies said they hoped data would be ready in time to influence the outcome of national and state legislation on promoting alternative fuels.

company and Fold-A-Cart will be introduced in the John Deere garden equipment catalog eariy next year. MastercraftJensen is also looking into marketing the product on a cable television home shopping channel, Huston said. Fold-A-Cart retails at $79.95. It is available locally at Kortendick's Ace Hardware and Lee's True Value Hardware. Other products produced by MastercraftJensen include wood-burning furnaces and portable fireplaces.

A folding lawn and utility cart has been introduced by Mastercraft Jensen Metal, 7800 Northwestern Ave. The 28-pound steel Fold-A-Cart is designed to fold to just 5' inches deep, John Huston, Mastercraft Jensen's vice president of marketing. It can be hung on a wall for storage or carried in the trunk of a compact car. When unfolded, the two-wheel cart has 3.7 cubic feet of space and can transport up to 150 pounds. Huston said the cart design was recently acquired from an Ohio EAU CLAIRE (AP) The assets of Hibernia Brewing a century-old brewery here that closed after declaring bankruptcy last year, will be auctioned today as a package, officials said.

Richard Gannon, senior vice president of First Wisconsin National Bank of Eau Claire, said auction organizers will keep the brewery, grounds, equipment and brand labels together to increase chances the plant will be reopened. First Wisconsin National Bank is the brewery's only secured creditor. The brewery's 2.25 acres of land and 63,497 square feet of building space is scheduled to be auctioned at 11 a.m. at the Civic Center Inn. Projecting the interest in Hibernia is difficult, but sometimes "there is a definite call for smaller breweries," said David Gronik, president of David S.

Gronik Co. the Mequon-based firm running the auction. Gronik said small breweries are at a disadvantage because their production costs are higher than large breweries, but they can be used to augment another small brewer's capacity, brew specialty beers or produce private-label brews. To promote the auction, Gronik said his firm notified all 426 breweries in the world by direct mail, contacted several buying groups by telephone and advertised in The Wall Street Journal and some statewide newspapers. While many parties have expressed an interest in buying the brewery since it closed in August 1988, creditors only accepted one $550,000 offer, and that bidder failed to secure the necessary financing.

The winning bid must be approved by U.S. bankruptcy court, First Wisconsin and the U.S. Small Business Administration. U.S. Bankruptcy Court trustee Lawrence Kaiser said even if the brewery assets are sold as a package, it is possible the bidders could later liquidate the assets.

Gorbachev samples U.S. goods at trade fair piece out of it." f.nrharhpv rlnsplv eurrnunripri hv lnctlmd MOSCOW (AP) President Mikhail S. Gorbachev wandered like a kid in a candy store through displays of IBM computers, Band-Aids and Ritz crackers Tuesday at the first U.S. trade show to be held in the Soviet Union. Deprived Soviet consumers soon will enjoy a small flood of such goodies, according to the head of the council that organized the fair.

Dwayne Andreas, co-chairman of the U.S.-U.S.S.R. Trade and Economic Council, said he received a letter from President Bush promising to press 'for reduced trade barriers with the Soviet Union. Gorbachev and Premier Nikolai I. Ryzhkov meandered for almost two hours along the aisles of stands, leaving excited vendors in their wake and collecting an array of souvenirs. Gorbachev "took a veggie burger," said Joan Godby, who was at the stand promoting the Archer Daniels Midland-produced powder that turns into vegetarian simulations of burgers.

"I don't know if he actually ate it, but there was a bodyguards and reporters, lingered longest at the IBM stand, where he asked questions about technology and came away with a prize: a microchip from the most advanced type of computer IBM sells in the Soviet Union, embedded in clear plastic and hooked to a keychain. Gorbachev and Ryzhkov were also presented with small stuffed dogs by a manufacturer of toys and children's clothes. II 32 313 13V 54' LncNtC 966 LincNtl 2 48 LncNIF 22Sa Comsat 112 NEW YORK IAP) Tuesday' list Slock Last Chg 36 1IV IV CPsyc 36b A A Compaq 103. 2 9V 18' 9 II' 54 River 60 28V JRvr pf 3 IS 45 lamswy 08 8' JellPI I 36 39V JerC pl 4 42' 1 JerC pl 2 IS 23V Johnjn tl 16 54V JohnCn I 16 31V IV FrkPr nl 05 FrnkRs 28a FrkUnv I 12 FMEP 220a FMGC 05 FMOG I S6e FMCC S2 FrptMc I 50a AAR 85 '4 Gdrch pf3 50 49V Goodyr 1 SO 49 Golchk 8V- Grace I 40 32 GrceE 22V- Graco 52 IS Gre.ngr I 04 58 GtABk 20 9V- GtAIPc 70 56'- CmpCre I0 DetEd 1 68 71' DetE 50 129 2V DelE pl 9 32 94 DetE pl 7 68 80 1 DetE pl 7 16 75V DE prF 2 75 26V DE orB 2 75 26V DetF pr 2 28 74" Dfrter 80 77 4 DiagP ft 24 35'-? l' 2V 75' 77 1' 17V 9 2 I' S' 34V-IV 1SV 3 vACnt ACyan I 31 4VVr AEIPw 3 40 30M. '1 AmExp .04 3d.

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