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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 24, 1986
Page
2
Sohio final quarter costs to streamline operations drive full year earnings down to 308 million or 1.31 a share. The Cleveland based Standard Oil unit reports 1985 revenue of 13.82 billion with 3.69 billion in Q4 and a 771 million fourth quarter loss. If not for unusual costs, 1985 earnings would be 1.46 billion or 6.21 per share.
Readable portions show cattle categories including dairy and feeder cattle with prices such as calves at 10 to 49, cows around 31.070 head, heifers near 375, bulls 16, and wholesale figures for steers. Hay and straw entries list first to fourth cutting and bale prices, with hay around 20 to 45 per unit and straw per ton or bale.
New York AP reports Coca-Cola introduces lemon lime and orange juice added sodas to rival Slice and Seven-Up amid rumors PepsiCo plans to buy Seven-Up for about 400 million dollars. Coca-Cola aims to use Minute Maid branding to grow the juice-added segment while Sprite and Fresca push aggressive marketing.
CSX Corp won a 2-1 ruling from the 6th U.S. Circuit Court of Appeals approving its purchase of American Commercial Lines, owner of American Commercial Barge Lines, despite opposition arguing it would reduce competition and raise rates for coal, chemicals, and farm-product shippers. The decision affirms ICC permission under federal law, though Judge Timbers dissented, contending the Panama Canal Act was misapplied and no court has approved such an rail to barge acquisition.
Parker Hannifin Corp reports a second quarter net income decline to 18 million from 19.5 million while sales rise 13 percent to 398 million. CEO Paul G. Schloemer cites mixed trends, with aerospace and international strength offsetting flat domestic markets and weak automotive aftermarket. The company operates in Elyria and Avon Lake.
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