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

DATE: THURSDAY, May 5, 1994                   TAG: 9405050136
SECTION: BUSINESS                    PAGE: B-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Dickstein & Co. L.P., a New York investment firm, has bought a 5.3 percent stake in WLR Foods Inc., a Rockingham County poultry processor. Dickstein is not affiliated with Tyson Foods Inc., the Arkansas diversified food company trying to acquire WLR through a hostile stock takeover, Tyson spokesman Archie Schaffer said.

Mark Dickstein, president of the investment company, said the purchase ``is for investment purposes.'' He said the company had not made any decision about Tyson's $330 million offer to buy WLR.

In a filing with the Securities and Exchange Commission on Monday, Dickstein said it owns 582,300 WLR shares. The investment company said it bought the shares between March 3 and April 28 at prices ranging from $21.25 to $31.48 a share.

Tyson has been bidding $30 a share for WLR stock. Its offer has been rejected by WLR's board, but Tyson has gone directly to WLR stockholders with its bid.

In its filing, Dickstein said it may buy more shares or sell its stake, and it ``may take any other action with respect to the company or any of its debt or equity securities in any manner permitted by law.''

- Staff report

Valley foundation sets endowments

The Foundation for Roanoke Valley said it has received gifts to establish five permanent endowments. Four of the funds are unrestricted in how the proceeds can be used: the Edith P. and Frank W. Bova Fund, the Lawrence Transportation Systems Inc. Fund, the Babe and Sideney Louis Fund and the General Unrestricted Fund. The fifth fund, created through the estate of Melva P. Jones of Vinton, is to support projects in music and art, with a preference for programs conducted in Vinton.

Also, the foundation said, its Chrildren's Fund has received a $25,000 grant from the Edgar A. Thurman Charitable Foundation, $1,000 from Roanoke Gas Co. and $31,500 from individuals.

- Staff report

Briefly ...

C&S Oil Co. of Pearisburg will open a Valley Propane outlet in a new office under construction at 225 Cambria St. in Christiansburg. Target date for completion is July 1. Valley Propane will be a division of C&S Oil, which has been in business since 1956. It is a subsidiary of Prince Oil Co.

The Roanoke-Airport Hampton Inn hotel has opened at 6621 Thirlane Road N.W. near the Peters Creek Road interchange with Interstate 581. The 79-room property formerly operated as an Econo-Lodge motel before renovation. Juanita Bryant is general manager.

DaLong's Furniture Co. said it will install a Virginia House Home Showcase at its store at 5728 Williamson Road, Roanoke. The showcase, to open in about six months, means 3,200 square feet will be devoted to room settings featuring furniture made by Virginia House Furniture Corp.