Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, January 21, 1994 TAG: 9401210335
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Virginia's coal mines produced nearly the same amount of coal in 1993 as they did the year before.
The U.S. Department of Energy reported that Virginia produced 42,778,000 tons of coal last year, compared with 42,765,000 in 1992.
Nationally, however, the Energy Department reported that coal production was down 4 percent.
Nationwide production of bituminous and lignite coal in 1993 was 951,135,000 tons, compared with 991,006,000 a year earlier.
West Virginia and other states sharply affected by last year's United Mine Workers strike showed dramatic decreases in coal production.
All 1993 information is preliminary. - Staff report
C&P Telephone Co. changing its name
Chesapeake and Potomac Telephone Co. of Virginia on Monday becomes Bell Atlantic-Virginia Inc., the company said Thursday.
The utility, which was chartered in Virginia on Oct. 8, 1912, operates 2.8 million access phone lines in the state.
The Bell Atlantic Corp. - which owns C&P and other telephone companies in New Jersey, Pennsylvania, Delaware, Maryland, the District of Columbia and West Virginia - said last year that it was bringing them all under the Bell Atlantic name.
The change is being made to eliminate some of the confusion among the company's customers, according to spokesman Paul Miller.
The new name also will help Bell Atlantic to build name recognition as it prepares to offer new types of communications services, he said.
Bell Atlantic plans to launch a television, print and radio advertising campaign Monday to inform customers of the name change.
The ads will stress that the quality of the company's service will not change and will showcase new Bell Atlantic products, including distance learning and telecommuting, said Bell Atlantic-Virginia President Hugh Stallard.
C&P signs will be changed to Bell Atlantic but the company's logo will not change pending completion of Bell Atlantic's merger with cable television giant TeleCommunications Inc., Miller said. - Staff report
Family Dollar Stores to pay cash dividend
Family Dollar Stores Inc., a Matthews, N.C., retailer operating discount stores in the Roanoke Valley and Western Virginia, Thursday declared a quarterly cash dividend of 8 1/2 cents per common share, payable April 15 to shareholders on March 15.
The new dividend is a 13.3 percent increase from the current dividend of 7 1/2 cents per share. - Staff report
Earnings
CSX Corp., Richmond-based transportation and real estate company, with operations in Western Virginia, on Thursday reported earnings for the fourth quarter were $151 million, or $1.46 per share, nearly even with year-earlier earnings of $152 million, or $1.47 per share. Total operating revenue was $2.32 billion, compared with a year-ago level of $2.25 billion.
For the year, CSX earned $359 million, $3.46 per share, including restructuring charges of $61 million after taxes, compared to 1992 net earnings of $20 million, or 19 cents per share, including a productivity charge of $699 million, $450 million after taxes, or $4.38 per share.
by CNB