THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, November 18, 1995 TAG: 9511181706
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Short : 47 lines
Crestar Financial Corp. filed with the Securities and Exchange Commission to sell as much as $300 million of securities. The Richmond company would be able to raise the money by selling unsecured subordinated debt or preferred or common stock through an S-3 shelf registration statement filed today with the Securities and Exchange Commission. Crestar plans to use the proceeds from the sale for general corporate purposes, including working capital, investments in or extensions of credit to subsidiaries and the possible acquisition of other financial institutions. Some of the money may also be used to reduce debt and repurchase equity securities. The parent company for banking units in Washington, D.C., Maryland and Virginia, Crestar had total assets of about $14.76 billion on Sept. 30. (Bloomberg Business News) Coal loadings through October up for the year
In 10 months this year, the region's coal terminals have loaded nearly as much coal as they did in all of 1994. The port's three terminals dumped 42.8 million tons of coal through October, about 400,000 tons shy of last year's total and 20.7 percent ahead of last year's pace, according to the Hampton Roads Maritime Association. The port's coal shipments in October rose 16.2 percent to 4.1 million tons, slowed by a 12.1 percent decline in loadings at the region's largest coal terminal, Norfolk Southern Corp.'s Pier 6 in Norfolk. Both Newport News terminals, meanwhile, saw substantial growth in October. (Staff) Trigon to use an ad to reach policyholders
Trigon Blue Cross Blue Shield will run a full-page newspaper ad to try to reach about 200,000 policyholders who may be owed refunds for overcharges on hospital bills from 1984 to 1993. An additional 300,000 policyholders automatically will get refunds totaling $30 million next month for overcharges during the same period. Trigon has the mailing addresses for those policyholders but has been unable to locate the other 200,000, who are owed about $20 million. Trigon reopened the refund program at the request of state officials. (AP) by CNB