DATE: Saturday, August 2, 1997              TAG: 9708020674

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 

                                            LENGTH:   25 lines

DAILY BRIEFING

NATION

NATIONSBANK SETTLES: NationsBank Corp. said Friday it agreed to pay $29 million to settle a class-action lawsuit brought by customers who alleged deceptive sales practices at its broker, NationsSecurities. NationsBank has consistently denied any wrongdoing, but said it settled to avoid lengthy litigation. Plaintiffs alleged NationsSecurities, a joint venture between NationsBank and Dean Witter, misled investors about the riskiness of some of its funds between 1993 and 1994. NationsBank has shut down the venture.

BALTIMORE SHIPYARD TO CLOSE, SALE OFF: Bethlehem Steel Corp. announced Friday that it has stopped talks for the sale of its BethShip Sparrows Point Shipyard. It also said it will close the yard and sell its assets. BethSteel had been in talks with Baltimore Orioles owner Peter Angelos for several months, but industry sources say the talks broke down over who would be responsible for the environmental clean-up of the site. BethShip has been a longtime competitor of Hampton Roads shipyards. Its demise could mean a little more work for the region's strapped yards.

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