Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, January 19, 1995 TAG: 9501190059
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The First Union Fund board of trustees has approved plans to change the name of its mutual fund family from First Union Funds to the Evergreen Funds.
First Union Corp., Charlotte, N.C., parent of First Union National Bank of Virginia, acquired Evergreen Asset Management Corp. last June. Evergreen, based in New York, is investment adviser to the $3 billion Evergreen family of 17 mutual funds.
Upon completion of the name change in July, the Evergreen Funds will be a $7.2 billion mutual fund family.
Bill Ennis, director of mutual funds for First Union Corp., said the name change will enable the Evergreen Funds to be marketed through additional distribution channels, such as national broker-dealers, and will heighten awareness of the funds in the marketplace.
- Staff report
Farmers harvest record yields
Virginia farmers harvested record yields of flue-cured tobacco, soybeans and cotton in 1994, according to the Virginia Agricultural Statistics Service.
The flue-cured tobacco yield was a record 2,420 pounds per acre, 385 pounds above the year before and 140 pounds above the previous record, set in 1984. Total production was 82.3 million pounds, up 12 percent from 1993.
Soybean yields averaged a record 33 bushels per acre, up 11 bushels from 1993 and one bushel more than the previous record, set in 1990. Total soybean production in the state was 17.2 million bushels, up 59 percent from 1993.
Cotton yields averaged 912 pounds per acre as cotton acreage jumped dramatically in 1994 with 41,700 acres harvested, compared with 22,800 harvested the year before. Virginia cotton production of 79,2000 bales, exceeded the previous record of 58,0000 bales, set in 1925.
- Staff report
by CNB