Lexington Herald-Leader from Lexington, Kentucky • 25

T11 1 TTT TT Lexington Herald-Leader C5 TuesdEyJgnuary131987 USA Cinemas gains final 2 of first-run theaters Typewriter contract goes to IBM By Stephen Williams HeraM-Lsadar business writer USA Cinemas has acquired Fayette and Turfland Mall Cinemas from General Cinema Corp making USA die sole owner of all first-run theaters in Lexington The acquisition brings the number of movie screens operated fay USA Cinemas hr Lexington to 25 at six locations: Crossroads North Park and South Park shopping centers and Lexington Fayette and Turfland first-run films Mills said Mills said the company charges 31 at all times for Movies on Main 32 for most movies at the Kentucky and 3275 for the first-run films which would keep them competitive with USA Cinemas The latter charges about 3475 for first-run movies with matinee specials In 1984 Sack Theatres acquired Cincinnati-based Mid-States Theatres and in December 1985 the name was changed to USA Cinemas USA Cinemas is a private company and officials would not disclose any sales figures But Moacarelli said USA Cinemas was among the 10 largest theaters with 100 locations and 300 screens mostly in the New England area and also in Kentucky New York Ohio and North Carolina Based in Boston USA Cinemas operates as Sack Theatres in the Northeast and Mid-States Theatres far the Midwest Fred Mills the manager of the two downtown theaters the Kentucky Theater and Movies on Main said the acquisition leaves them as the only non-USA-owned local theaters excepting drive-ins He said that Associated Theaters of Kentucky a Louisville company that owns the two downtown movie houses does not antiefoate sny immediate programming or price changes to compete with USA we were competing with two (theater companies) and now we will be competing with he said The Kentucky Theater and Movies on Main generally feature classics foreign films and some Staff win report! The US General Services Administration announced yesterday that it was awarding a contract for the purchase of two models of Wheel writer 3 typewriters made by International Business Machines Corp in Lexington said US Rep Larry Hopkins R-Lexington GSA estimates that under the contract the federal government could buy up to $2S million worth of Wheel writer 3 typewriters with spelling verification and Wheel writer 3 typewriters without that feature dur-ing'the 1987 fiscal year which began Oct 1 Rosemary Booth a spokeswoman for IBM in Lexington said the contract would have major effect" on employment or other operations IBM in Lexington with 6JXX) employees is only typewriter plant in the United States IBM held the government contract in fiscal 1983 1984 and 1965 but was outbid in 1986 by Swmtec a Japanese manufacturer Ex-EF Hutton workers disciplined Associated Press The company dosed the deal and officially took over Turfland and Fayette Mall theaters hr December William Moacarelli vice president for corporate development said the Fayette and Turfland Mall theaters were attractive because of their "good locations" and the "quality of the He added that there were no immediate plans to either raise prices or discontinue matinees "We intend to have any changes hi operating polices" Mdscarelli said Nancy Martin a company spokeswoman said that although the USA Cinemas does have theaters hi which matinees were discontinued during certain times of the year there would be no immediate changes locally because Lexington is a profitable movie market She added that all of Lexington's theaters have been doing well CHICAGO The Chicago Board Options Exchange said yesterday that its conduct committee had disciplined three former employees of EF Hutton A Co Inc for separate alleged infractions unauthorized and excessive in size or frequency Leonard Rand a former clerk in one of New York City offices was suspended from associating with exchange members for five years He allegedly transferred unprofitable options positions from his own personal account at Hutton to the company's error account Ranald Meyer a former registered representative hr Hutton's Pasadena Calif office was suspended from associating wife exchange members for a month Mayer allegedly effected options transactions in three public customer accounts without hav-ing prior written authorization Associated Press The former employees agreed to the sanctions without admitting or denying they had violated exchange nrtes National Ford chief urges import cuts Voluntary ceilings on Japanese auto exports to the United States should be lowered to counter the increasing number of foreign cars assembled in the United States Ford Motor Co President Harold Poling told a meeting of the Economic Club of Detroit yesterday The 28 million cars imported yearly should be cut to less than 2 million after the Voluntary Restraint Agreement ends in March Poling said Wayne Carney a former registered representative hr Hutton's Cincinnati office was suspended from associating with any exchange member for three years He was allegedly involved in transactions that were "We had a wonderful holiday i son" Ms Martin said "Lexington is market that gives us the opportunity to show a wide selection of If This Is Alllbur Farm machinery output at new low Alcoa expands into food containers: Aluminum Csl af America reaching for a greater share of the food container industry now dominated by steel has agreed to a joint venture with Van Dora Cat More than SB billion at 95 percent1 of the 73 billion beverage cans produced in the US last year were aluminum But only about 1 billion or 5 percent of the 27 billion food cans produced in 1986 were aluminum said Ronald Hoffman an Alcoa vice president In the venture with Van Dorn's Central States Can Cat subsidiary the two companies plan to build a plant on a site yet to be selected and to begin production by early 1988 fturBankYoine Associated Press CHICAGO Production of farm machinery in the United States and Canada fell to a record low 2855 units in 1986 the seventh straight year of decline in the industry a business newsletter reported Stark's Off-Highway Ledger a bimonthly newsletter on form and construction machinery said the 1986 fig- Hicks Inc buys Blue Grass Stockyards Co ure represented a drop of 33 percent from the 42190 units produced in 1985 Meanwhile consolidation and realignment continued as the industry attempted to control its inventory the newsletter said The top North American form-machinery producers far 1986 were Ford New Holland of Detroit with 10090 units JI Case Co of Racine Wis with 885 units and Deere A Co of Moline 111 with 5460 units the newsletter reported Those figures compare with 1985 production of 13450 units for Ford 15725 units for Deere and 6440 units for Case it said Arnold Hirsch a spokesman for Ford New Holland confirmed that the company had experienced a decline hr farm machinery production but said he did not have exact figures "There's certainly been some drop" Hirsch said in a telephone interview from Troy Mich "Business has continued to slide since 1979" because of the faltering agriculture economy "The form economy has been terrible and has continued to slip" he said "The agricultural tractors per se have been sliding almost ceaselessly since By Roger Nesbitt Haraki-Loadar farm wntar Kentucky Bank suit dismissed: A S3 million lawsuit filed against the First National Bank of Grayson by the Peoples Bank of Olive Hill for an alleged check-kiting operation has been dismissed hi US District Court in Covington Undo' the terms of an order signed by JS District Judge William 0 Bertelsman on Dec 17 Peoples Bank has agreed to pay all court costs in connection with its lawsuit The action was dismissed with prejudice meaning it could not be refiled Peoples Bank filed suit last April claiming there had been an overdraft of uncollected fends fouling more than 3880000 in the account of the Hamilton Hardwood Lumber Co at the Peoples Bank Peoples Bank claimed the loss was the result of a check-kiting scheme that collapsed when the First National Bank returned a number of checks drawn on the account of Hamilton Farms at First National Bank Those checks had been deposited in the Hamilton Hardware Lumber Co account at Peoples Bank Black A Docker acquiree Sholbyvllle firm: The Black A Decker Carp announced fc had acquired American Emblem Tool Co a manufacturer of circular saw blades and other accessories located in Shelby-ville The terms of the sale were not disclosed Mason I Hanger lands Army contract The Department of the Army will award an million contract to Mason A HangerSUas Mason Coi Inc of Lexington for operation and maintenance of the Newport Army Ammunition Plant at Newport Ind said US Rep Larry Hopkins R-Lexington The contract is for 1987 The Newport facility Is one of three conventional ammunition plants operated by Mason A Hanger for the Army The other plants are in Iowa and Nebraska Blue Grass Stockyards Co of Lexington the state's largest livestock sales company has been sold to a company headed by Fayette County cattleman RW Hicks Hicks and others involved in the sale declined to disclose the price Hicks Inc a company formed by RW Hicks and his father Dr Newell Hicks a Woodford County veterinarian bought the stockyards several weeks ago from coownera Kenneth Holt of Lawrenceburg WR Gabbert Jr of Lexington and Mrs Aetna Bap ber of Paris Holt Gabbert and Mrs Bather said yesterday that they were the only stockholders in the company They declined to disclose details of the sale Founded 41 yean ago Blue Grass Stockyards is the only livestock auction center in Lexington It has sales rings and holding facilities at locations on Lisle Road and Angliana Avenue Last year 323982 head of cattle 30688 hogs and 5461 sheep were sold at Blue Grass Stockyards making it the busiest In the state and among the 10 busiest In the nation according to the Kentucky Department of Agriculture RW Hicks said his only other business interest was raising some cattle In Fayette County He said he had long been interested In the business and did not plan to impose any significant changes in the company Case spokesman Richard James said that company's production was higher in 1989 than the previous year because the company shut down during the first three months of 1985 to reduce inventory The foiloff in 1986 was a result of Banned Inventory reductions and a bor dispute that has idled some 13000 Deere A Co workers in Illinois and Iowa Stark's Off-Highway Ledger said "Production Is down That's not real surprising And we do have a strike" said Deere spokesman Bob Shoup He said there has been no breakthrough in the labor dispute sparked by an August lock out at three plants What has your bank done for you lately? Probably not much except give you some cancelled checks and a monthly statement Well not enough bu see First Security now offers you something much better The new Business Management (RM A) designed specifically for small businesses The BMA gives you a business checking account But in this case it's automatically tied to an investment account that earns a market rate of interest So your balance is always earning you extra cash And upon approval the BMA also offers you a line of credit which you can access by simply writing a check Another feature like is the BM As annual financial forecast package that helps you get a real handle on your projections cash flow needs expenses and business trends And since the BMA is designed for small businesses it naturally comes with a small annual fee Plus even included a quick-response feature in this account Your own personal account officer Because we believe the more Wal-Mart announces plans for store in Mount Sterling your banker knows about your business tlie more your banker can help your business So if like to stop being short-changed visit any convcnicni visit any convenient First Security office to open a Business Management Account Or call us at (606) 231-2325 The Business Management FIRST SECURITY NAIXJNM BAM( IMSI OMWff Another reason your Account business can expect the best Sterling" said David Glass the president of Wal-Mart Stores In December the company announced that a Wal-Mart store with 73000 square feet of space would be built In a shopping center planned for Morehead The Morehead store also is being developed by Hutchens Co Inc There are more than 44 Wal-Mart discount variety stores In Kentucky Based in Benlanvllle Ark Wal-Mart had isles of 3845 billion In the fiscal year that ended Jan 31 I9H6 The company expects lairs lo exceed 311 hi! this year Hsraid-laadar staff report Wal-Mart Stores Inc has announced plans lo build a 65930 square-foot store In Mount Sterling The store is expected to create about 120 Jobs the company announced yesterday in a news release Construction Is scheduled to begin this foil at a site on the Ky 686 North Bypass and is expected to be complet-rd in early 1988 The developer is Hutchens Co Inc of Aiken SC "We are extremely excited about our plans lo open a store in Mount Lnngtm Aitifoh if.