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

DATE: SATURDAY, December 3, 1994                   TAG: 9412050033
SECTION: BUSINESS                    PAGE: A8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Four bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. Two of them are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.

Electric Equipment Inc. of Bristol, which makes and sells electrical switch gear and related products, filed for reorganization and protection from creditors. Bob L. Gunn, president, said assets totaled $3,237,503 and liabilities totaled $10,972,873.

Betty J. David of Appalachia, who is in the retail appliance business, filed for liquidation, reporting assets of $134,877 and liabilities of $188,199.

Paul L. Barbour of Roanoke filed for a wage-earner plan for repayment of debts, listing assets of $48,015 and liabilities of $88,788. He is the owner of Paul L. Barbour & Sons in Salem.

James Darnel McCullough and Stephanie Ann McCullough of Roanoke sought liquidation, with assets of $3,483 and liabilities of $9,084. James McCullough is a self-employed carpenter.

-Staff report

Briefly ...

Cooper Industries Inc., Houston parent of a Crouse-Hinds electrical products plant in Roanoke, said Friday it will exchange all of its 33.3 million shares of $1.60 convertible preferred stock for debentures with principal value of $22.70. The exchange will be effective Jan. 1. Cooper said it intends to list the debentures on the New York Stock Exchange.

Kringles Toys, a shop specializing in nonviolent educational toys for children and adults, has opened in The Forum shopping center, 4706 Starkey Road. Owners are Martin B. Williams III and Rebecca Boldin Williams.

Earnings ...

Pulaski Furniture Corp.. reported net income of $3.2 million, or $1.10 per share, on sales of $148.7 million for its fiscal year ended Oct. 30, compared with year-earlier $4.4 million, or $1.53 per share, on sales of $137.7 million. For the fourth quarter, net income was $847,000, or 30 cents per share, on sales of $55.9 million, compared with year-earlier $2.8 million, or 98 cents per share, on sales of $50.3 million.