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

DATE: WEDNESDAY, March 1, 1995                   TAG: 9503010031
SECTION: BUSINESS                    PAGE: B-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

WLR Foods Inc., Broadway poultry producer and parent of Cassco Ice & Cold Storage in Roanoke, on Tuesday said its directors authorized the repurchase of up to $20 million of outstanding stock, declared a 3-for-2 stock split and increased its quarterly dividend by 12.5 percent.

The stock split will take the form of a 50 percent stock dividend, to be distributed May 12 to shareholders as of April 14. This will increase the number of outstanding shares from approximately 12.2 million to 18.3 million shares. The dividend will increase to 9 cents per share from the current 8 cents and will be paid May 5 to shareholder on April 14.

- Wire report

Columbia/HCA merger OK'd

Columbia/HCA Healthcare Corp., Louisville, Ky., parent of Lewis-Gale Hospital in Salem, and HealthTrust Inc. of Nashville, Tenn., said Tuesday their shareholders have approved their proposed merger. The transaction remains conditioned on review by the Federal Trade Commission.

- Wire report

Eagle-Picher filesx reorganization

Eagle-Picher Industries Inc., Cincinnati parent of Wolverine gaskets plant in Blacksburg, on Tuesday filed a plan of reorganization with U.S. Bankruptcy Court in Cincinnati. The plan is being proposed jointly with a committee representing approximately 150,000 persons who claim injury due to exposure to asbestos-containing products that Eagle-Picher manufactured from 1934 to 1971.

In January 1991, Eagle-Picher and seven of its domestic subsidiaries filed petitions for reorganization under bankruptcy law related to expected costs of asbestos personal injury litigation estimated at $1.65 billion.

- Wire report

Signet credit-card spinoff complete

Signet Banking Corp., Richmond parent of Signet Bank, said Tuesday it completed the spinoff of its credit card subsidiary, Capital One Financial Corp. Signet transferred its interest in Capital One directly to Signet shareholders through a tax-free distribution of common stock. Signet shareholders on Feb.10 received one Capital One share for each Signet share they owned.

- Wire report

Rail freight fleet increases

For the first time in more than a decade, the nation's rail-car freight fleet increased last year, and new freight-car deliveries reached their highest level since 1980, the Association of American Railroads reported this week.

The gain reflects traffic increases U.S. railroads have experienced over the past two years, said the association's chief economist, Harvey A. Levine.

During 1994, railroads put 48,819 new cars in service, the most since 1980, when 85,465 cars were added to the freight-car fleet. After old and obsolete freight cars that were retired are subtracted, the fleet grew by almost 20,000 cars last year, to 1.192 million as of Jan. 1, the report said.

- Staff report