
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, July 24, 1990                   TAG: 9007240111
SECTION: BUSINESS                    PAGE: A-3   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

BRIEFLY

Bell Atlantic Corp., parent of C&P Telephone Co. of Virginia, reported second-quarter net income of $362.8 million, up from $341.7 million a year ago. Total operating revenues increased to $3.08 billion from $2.88 billion.

LADD Furniture Inc., the High Point, N.C.-based residential furniture maker and parent of American of Martinsville, Monday reported net sales of $136 million for the three months ended June 30, up from $96.7 million in the same period of 1989. Net earnings for the quarter totaled $3.5 million, or 18 cents a share, down from $6.9 million, or 37 cents a share.

Investors Financial Corp., the parent company of Investors Savings Bank, on Monday reported a net loss for the second quarter of 1990 of $2.1 million, or 25 cents per share, compared with net income of $2.1 million, or 24 cents a share, in the corresponding quarter of 1989. The thrift cited non-performing assets but reported a $1.5 million gain on the sale of residential mortgage loans.

Production of ethanol, a clean-burning fuel made from corn, could triple in the 1990s, but only if Congress offers tax breaks and other benefits, says a report by the General Accounting Office, the investigative arm of Congress. Escalation of ethanol production would be good news to corn growers and to the Agriculture Department, which could spend less on farm subsidies.

by CNB