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

DATE: TUESDAY, February 22, 1994                   TAG: 9402220017
SECTION: BUSINESS                    PAGE: A-9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

Higher production, new jobs, yes? No . . . Manufacturing activity in the mid-Atlantic region grew in January, but the number of people employed by manufacturers changed little, the Federal Reserve Bank of Richmond reported.

The 150 manufacturers surveyed reported moderate growth in their shipments, new orders, backlog of orders and hours worked, the Fed reported.

The Federal Reserve survey comprises manufacturers in Virginia, West Virginia, the Carolinas, Maryland and the District of Columbia.

The respondents said they expect shipments to continue to grow during the next half-year. To handle those shipments, they expect to increase the average work week of their employees, but they don't anticipate hiring more workers.

- Associated Press

Briefly

First Union Corp. declared a quarterly cash dividend of 40 cents per share for its common stock, payable March 15 to shareholders on Feb. 28. The annual rate is $1.60 a share. The board also approved a dividend rate of 7.25 percent per year for its 1990 cumulative adjustable-rate preferred stock, payable March 31 to shareholders on March 15.

U.S. stock and financial markets were closed Monday for the Presidents' Day holiday and the Treasury Department's weekly auction of short-term securities was postponed until today. The Roanoke Times & World-News will publish regular financial tables and results of the Treasury auction in Wednesday's editions.

by CNB