Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, September 22, 1993 TAG: 9309220116
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The nationwide average price of self-serve regular unleaded gasoline has dropped 5 cents per gallon since May 18, the American Automobile Association said Tuesday. The national motor club said its survey shows the average gasoline price is down 1.8 cents per gallon since Aug. 24 to $1.082.
The price of self-serve mid-grade fuel fell 1.5 cents in the past month to $1.181 and the premium average is down 1.4 cents to $1.268 per gallon. Full-serve regular unleaded increased 2.3 cents to $1.368 per gallon, mid-grade increased 2 cents to $1.466 and premium increased 2.2 cents to $1.526. - Staff report
\ Briefly . . .
\ Martin Brothers Contractors Inc. of Roanoke has been awarded contracts valued at $1.2 million, including several interior renovations at Lewis-Gale Hospital in Salem, renovation of Dietrich Hall at Virginia Tech in Blacksburg, and construction of a new facility for E-Z-N Markets in Roanoke. Martin Brothers also is building the additions and alterations at the operations centers for First Virginia Bank on Coulter Drive, Roanoke.
\ A federal bankruptcy judge in Henderson, N.C., has approved an interim financing plan that will allow Roses Stores Inc. to begin restocking store shelves. The motion approved by the U.S. Bankruptcy Court for the Eastern District of North Carolina allows the retailer to enter a loan agreement with GE Capital for up to $125 million of revolving credit and to borrow up to $62.5 million pursuant to the credit agreement, pending a final hearing on Oct. 5.
\ Brendle's Stores Inc., Elkin, N.C., retailer with stores in Western Virginia, said its plan for reorganization was filed Tuesday with U.S. Bankruptcy Court and it expects to have confirmation before Christmas. The plan provides for full payment of secured, priority and administrative claims, and partial payment of other claims. Brendle's shareholders would retain their stock and the company's 1,400 employees would keep their jobs.
\ Duff & Phelps Credit Rating Co. said Tuesday it has rated two new series of securities registered by Appalachian Power Co. The Roanoke-based utility's first mortgage bonds were rated single-A, and a single-A-minus rating was assigned to the company's $110 million issue of cumulative preferred stock.
\ Earnings . . .
\ Revco D.S. Inc., Twinsburg, Ohio, operator of drug stores, said Tuesday it earned $2.7 million, or 5 cents per share, in its first fiscal quarter ended Aug 21. The company lost $1.5 million, or 4 cents per share, a year earlier. Sales were $521 million, up 10.1 percent from $472.9 million in the year-ago quarter.
by CNB