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TREASURY YIELDS RISE: Interest rates on short-term Treasury securities rose in Monday's auction. The Treasury Department sold $11.6-billion in three-month bills at an average discount rate of 5.26 percent, up from 5.13 percent last week. An additional $11.5-billion was sold in six-month bills at an average rate of 5.33 percent, up from 5.26 percent. The new discount rates understate the actual return to investors _ 5.41 percent for three-month bills and 5.55 percent for a six-month bill. In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills rose to 5.81 percent last week from 5.72 percent the previous week.


NATIONSBANK CEO REWARDED: NationsBank Corp. boosted chief executive Hugh L. McColl's total compensation 15 percent to about $4.2-million last year from $3.6-million, according to a regulatory filing. McColl's annual bonus rose to $3.1-million from $2.6-million, while his salary was unchanged at $900,000, NationsBank disclosed in its annual proxy statement filed with the Securities and Exchange Commission, according to Bloomberg News.

MICROSOFT STOCK DROPS: Microsoft Corp. stock dropped as much as 7 percent Monday on news that the next generation of its Windows 95 operating system may not be on the market until next year. Microsoft recovered about half its loss by the close Monday, finishing at $90.12{, down $3.87{, on the Nasdaq Stock Market. A test version of the upgrade, code-named Memphis, will be ready in July, but the date for a final release will depend on feedback and how long it takes to make changes in the software.

STRIKERS BACK AT WORK: Eight people who had been on strike against Detroit's daily newspapers returned to work Monday _ the first under an agreement to end the walkout. In all, about 160 people have been called back to work and 135 have accepted.

Tampa Bay/State

MIDO SALE MAY CLOSE SOON: A Connecticut businessman on Monday relinquished his claim to the Belleview Mido Resort Hotel in Belleair, clearing the way for the historic hotel to be sold to an Atlanta company for $16-million. Jon Kerr reached an out-of-court settlement, the terms of which were not revealed. Kerr had sued the Japanese investors who own the hotel, saying they backed out of a deal to sell him the hotel for $19-million. The owners hope to sell the hotel to Bask Development Co. by the end of the week. The owners have been in default on the mortgage for three years and owe $1.3-million in back property taxes.

LURIA'S CLOSES SOME STORES: Luria's, squeezed by competition and shrinking sales, has closed 17 of its 45 stores, including ones in Holiday, Tarpon Springs and Brandon. The Miami-based jewelry and general merchandise retailer said the closings were necessary to return the company to profitability after two years of sustaining major losses. In the Tampa Bay area, Luria's still has stores in Clearwater, St. Petersburg, Tampa and Carrollwood.

AIRLINE EXPANDS SERVICE: Reno Air, a low-cost airline that has been providing charter service from St. Petersburg-Clearwater International Airport, plans to start scheduled service from the airport to Gulfport, Miss., the airport said Monday. The flights are scheduled to begin April 2.


WALTER INDUSTRIES INC.: The Tampa-based home-building conglomerate reported a net loss of $2.2-million, or 4 cents per share, for the third quarter, compared with a net loss of $123.6-million, or $2.42 per share, a year ago. Net sales and revenues for the third quarter increased 3 percent to $340.4-million, compared with $329.1-million a year ago.


Steven Adler and Vector Index Advisors are losing money trying to get the ASM Fund up and running, but the ASM Fund has been making money for its shareholders. A headline on the cover of Monday Business failed to make that distinction.

Butch Harmon is a golf instructor who works with PGA star Tiger Woods. Harmon was misidentified in a Sunday story.



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