Document qkn2gqeoZXLzD2N5K7wGV0jX5

us me largest s.r>y>* source r- devices fo< ihe loiai OEM mar*.*:, rcr been growing in the coni hclrl* of southern Marine Midlandmy part, this makes me douc;v h-DCDV. West Virginia and eastern Kentucky, and Our activity is sure to mean eod.'t'Onal Mr. Miller's control of Ms members tn those profits for the Corooration. But I also arena ts less than total. Moreover, rallies al Cancels Plan to Bayview 'it as a golden ooportunity for ready have been planned tor next week at Bendix to exercise its traditional role as several coal field slies, and plans for those technological problem solver ... in are prominently fcalurrd in the latest issue Arkansas Concernthis case making the world a better and of the United Mine Workers Journal, which safer place in which to live. the union's 13,000 members will receive by To maximire profits in the future, mail this weekend. we're making significant capital invest ments in our facilities to meet the demands of the puck market. We've just completed a multimiliion-dollar facil ity in Frankfort. Kentucky, to build ait compressors. Also a S3.5 million program to double production capacity for slack adjusters, another vital component m air brake systems. We've doubled pro duction capacity at our London. Ontario, plant and our Safisbury, North Carolina, plant, both of which make air brake systems. In total, we have 41 plants making automotive parts in 21 countries . . . and that puts us in a strong, indeed a unique, position to profit from a truck brake market that is growing steadily both here and overseas. It the charges the coal operators group has filed are successful, labor lawyers say individual coal companies subsequently would be empowered to go to court to re cover damages from the planned closedown A Wall Street Jot r,v\j. *><* Roundup Marine Midland Banks Inc., Buffalo, N.Y., canceled a plan to acquire Modern American Mortgage Corp.. Little Rock. Ark., lor fear the proposal would be re jected by the Federal Reserve Board. The Equity National Says board did approve two European acquisi tions. The bank-holding company said it with Trading in Its Stock drew Its Fed application to acquire the mortgage-banking concern. Is Suspended on Amex The Federal Reserve recently turned down a number of expansion applications, including one by BankAmerica Corp., San Francisco, saying the proposed acquisition ' Bv a Wall STrf.f.t Jch'rnal Siott Reporter ATLANTA -- Equity National Industries Inc. said trading of its stock was halted on the American Stock Exchange while devel would hurt the applicants' capital positions. Under the aborted plan, Marine Midland was to have paid more than $6 million in cash for Modem American. opments are completed that will hurt the In Washington, the board approved the WH company's first half financial results. two European acquisitions by Marine Mid The company said its decision to discon land International Corp. of New York, a unit tinue Us mobile-home retail sales subsidi of Marine Midland Banks. W. Michael Blumenihal ary, and recent defaults under certain long The Fed said it would let the subsidiary Cheirmen, President end Chief Executive Officer term loan agreements are involved. purchase an additional 25% of the shares of A tentative agreement was reached yes Interunion Banque of Paris, which has de \ terday with the affected long-term lenders posits of $160 million. Marine Midland cur that will allow the diversified holding com rently owns 19% of the bank. EARNINGS PER SHARE jx.is pany to continue operations and to pursue The Fed also approved the acquisition of its previously announced plan to sell certain 25% of Panarabinvest S.A. of Switzerland, a assets, a spokesman said. The understand new banking and Investment company. ing implies that bankruptcy proceedings Marine Midland Banks controls 10 banks aren't likely to be initiated by Equity Na with deposits totaling $8.4 billion. tional or by its lenders, the company said. Equity National said it expects its finan Consolidated Foodscial situation to be clarified and trading re sumed within a week. Curbs on Vinyl Chloride Is Being Sued by FTC Seen for Food Packaging EARNINGS (Millions) Bendix ts moving up. Per share earnings for the first nine months of fiscal 1974 are up 14 percent over earnings before ex traordinary items tor the corresponding period of 1973. And 1973 was a record year. Figures exclude a non-recurring credit and extraordinary items. By o Wall Street Journal Staff Reporter WASHINGTON-The Food and Drug Administration plans to propose regula tions to keep the hazardous chemical vinyl chloride out of foods, drugs and cosmetics. The KDA rules would establish lim its on the amount of the substance that could be contained in plastic packaging material or that would be permitted to migrate into the contents of the pack age. Vinyl chloride is a gas used to make the plastic polyvinyl chloride, which Is widely used for packaging food and other consumer products. The FDA regulations, which will be proposed for comment In a few weeks, would establish a maximum "toler ance" for leakage of vinyl chloride into foods, drugs or cosmetics of 50 parts per billion. Agency officials say this is the limit of present detection tech niques. A tolerance of 10 parts per million of vinyl chloride would be permitted In the plastic polyvinyl chloride. When the plastic Is manufactured, vinyl chloride can be trapped as a contaminate. Vinyl chloride Is suspected as the cause of liver cancer, which has killed a number of employes In polyvinyl chlor ide manufacturing plants. By a WALL Street JocrnaL Staff Reporter WASHINGTON - The Federal Trade Commission filed a civil suit against Consol idated Foods Corp., Chicago, seeking $250, 000 In penalties from the company for al leged violations of an FTC order. The suit, filed In federal district court in New York, charges that Conso Products Co., a division of Consolidated Foods, used dis criminatory pricing practices tn the sale of decorative fabric trimmings to retail stores. Cbnso Products, which makes the trim mings. Is based in Yonkers, N.Y. The FTC ordered Consolidated to cease discriminatory pricing practices in the sale of decorative trimmings in a 1973 consent order. The FTC's suit alleges that Consoli dated's Conso division has violated that order from its final Issuance until at least last March 1. Strike Ends at McNeil Unit AKRON, Ohio--McNeil Corp. said opera tions are resuming at its Lincoln St. Louis division in St. Louis following the end of a strike that had closed the plant since June 1. Three-year contracts were approved early. ,, this week with unions representing about 600 _ ) workers at the division, which makes ]ubri-|p< ^ cation and materials-dlspensing equipment, a spokesman said. | fiii