ROANOKE TIMES 
                      Copyright (c) 1996, Roanoke Times

DATE: Wednesday, September 4, 1996           TAG: 9609040106
SECTION: BUSINESS                 PAGE: B8   EDITION: METRO 

IN BUSINESS

The Treasury Department on Tuesday sold $12.07 billion in three-month bills at an average discount rate of 5.19 percent, up from 5.07 percent last week. Another $12.09 billion was sold in six-month bills at an average rate of 5.38 percent, up from 5.16 percent.

The three-month bill rate was the highest since they sold for 5.2 percent July 29. The six-month bill rate was the highest since they averaged 5.41 percent July 8.

The Federal Reserve said the average yield for one-year Treasury bills, the most popular index for adjustable-rate mortgages, rose to 5.81 percent last week from 5.64 percent.

- Associated Press

Briefly

* Employees of Westvaco Corp.'s paper-coating operation at Low Moor have rejected a proposed six-year contact, a union spokesman said Tuesday. A meeting is scheduled Monday between Local 490 of the United Paperworkers International Union and company representatives to modify the proposal before another vote is taken, said Fred Feazell, president of the local.

* Hercules Aerospace Co. of Radford has won two contracts, valued at $250,000 and $182,758, from the Army Industrial Operations Command in Rock Island, Ill., for facility operation and maintenance services. The company also won a $146,094 contract from the Army for consolidation and development of a building categorization matrix.

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