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20 - MANCHE*,TER HERALD. Tuesday, Feb. 26. 1985 SPORTS WEATHER BOLTON FOCUS BUSINESS Officials say director Merle Lassow cooks MHS hoop squads Clear, cold tonight; no change Thursday Company requests financing told them to keep feesl with expert’s touch emerge victorious page 9 ... page 2 Business ... page 2o| ... page 14 In Brief Seabrook fate now up to regulators ____I . ___ 1. .-onMoct inr a s.M.'? Last Weekweek Harrison withdrew the conditions.conditions.” By Richard March the company's request lor a $525 Harrison said a regulator-set cap, Gerber reports earnings company's cost cap, citing regulatory United Press International million financing to complete it. would leave his company with a tough, SOUTH WINDSOR - Gerber Scientific Inc. has Instead of completion, opponents delays and cost uncertainties. reported record third-quarter and nine-month "Y ou must have known that these decision. The company would have to CONCORD, N.H. — Nearly three emphasized conservation methods that operating results. (hearings) could not be precisely choose whether it was worthwhile to. months after hearings opened. New they said could save consumers billions Consolidated net earnings for the third quarter finish Seabrook with a limited recovery^ Hampshire utility regulators now have of dollars and argued that electric rates timely. This is what troubles me the ended Jan. 31 were $6,293,000, an increase of 70 through rates. He said hearings tO; could be cheaper if the company most,” Commissioner John Nassikas iiaiuhpalpr Hrralft percent over net earnings of $3,698,000 for the to untangle the evidence to determine if determine a cap may be a better consumers need the Seabrook nuclear reorganized in bankruptcy told Harrison last week. “ I find it third quarter of iast year. Earnings per share starting point for the company. '' proceedings. somewhat incredible that you could not ....... * \A/AHnocriawWednesday, P a H Feb. 27, 1985 — Single copy: 25« wore 36 cents in this year’s third quarter, plant. Manchester, Conn. — A City of Village Charm Written briefs are scheduled for have known this.” Another thorny issue in the case ir compared to 23 cents last year. Sales for the third Hearings on the matter that had March 15 with reply briefs due by Harrison said the company was rate projections. The company has. quarter ended Jan. 31 increased 26 percent to begun Dec. 3 ended last week with March 22. Regulators will issue a ruling confident last summer the cap could be furnished stacks of projections incor $52,530,000, compared to $41,682,000 for the same Public Service Co. of New Hampshire President Robert Harrison saying his after that but have not given any met and never anticipated regulatory porating various scenarios and show period last year. company — Seabrook’s principal indication as to when. action would be so time-consuming. ing a doubling, tripling or near-’ . ‘.‘•■'At For the nine months ended Jan. 31, consolidated Differences of opinion in the case are “ Society has its process of regulation... quadrupling of rates depending on the' net earnings were $18,513,000, an Increase of 95 owner — had made its case for the project’s completion. not the only issues facing regulators. it adds cost,” Harrison said. scenario. Divisions percent over net earnings of $9,480,000 last year. Although Harrison could not quote a There is also the question of a Although opponents said they were Farm aid bill Earnings per share were $1.07 in this year’s first Most of the scenarios include an; consumer cost cap, which blew up in not surprised by the withdrawal of the nine months compared to 64 cents in the same final price tag for Seabrook’s first October 1986 in-service date for the. reactor, he said the company would the last week of the hearings. cost cap, regulators reacted differ period last year. Consolidated sales for the nine ently. All three Public Utilities Com reactor, which opponents say Is un-. face bankruptcy and the state’s elec Initially proposed by Public Service likely. Beyond that similarity, the; get new months ended Jan. 31 increased 33 percent to 2 Co., the cap would have limited the missioners questioned Harrison about $159,731,000 compared to $119,860,000 for the tricity needs would not be met if the 83 scenarios reflect different cost esti percent-complete project was amount of Seabrook’s cost the com it last Friday, leaving the impression previous year. they still considered a cap possible. mates, differences in the company s draws heat scrapped. pany could recover through electric customer base, how soon the rates are, Opponents countered during the rates. Last summer the company said ’’They can Impose reasonable condi ieaders Sales agreement reached tions on the financing,” said PUC brought into effect and whether or not. weeks of hearings that the uncertain it would seek to recover no more than the company will be able to recover Its- The Carlyie Johnson Machine Co., Main Street, Executive Director Wynn Arnold. “ If Bv Kathv Garmus ties over Seabrook’s cost and operation its share of M.5 billion, the estimated investment in other power projects. , Manchester, has finalized a distributor sales were not worth the risk of approving f n c t ♦tion n t Co-ibrook’s first reactor. they decided to approve, there could be Herald Reporter agreement with GMN George Muller Numburg of from Reagan West Germany. Carlyle Johnson will sell the The water-treatment laboratory 6 GMN series 400 and 1600models of Sprag clutches director and a Massachusetts man through existing national sales representatives have been hired to head the water Boston bank’s woes By Sonia Hllloren and stocking distributors. The distributor’s and sewer operations under a agreement covers the United States and Canada recent restructuring of the Water United Press International One state sends and became effective Jan. 1. and Sewer Department, depart WASHINGTON — President its legislature Sebert R. Armstrong, president of Carlyle put chill on merger ment administrator Robert J. Johnson, said the GMN agreement represents an Young announced today. Reagan will veto the farm credit — see page 7 exciting new direction for the company and one ■Kevin Walsh, the laboratory relief legislation if Congress att aches “ budget-busting” amend that will complement and strengthen the overall By Mllly M cLean "W e don’t want any clouds over director since 1979, was appointed “ Maxitorq” clutch line now manufactured by the. anything we do as far as banking goes water operations manager from ments to bail out banks and United Press International debt-ridden farmers, a White protest since the Great company. in Rhode Island. There may be among five applicants for the Depression. The Carlyle Johnson Machine Co. has been a absolutely nothing wrong, but we need $29,350-a-year-post. Assistant Gen House official announced today. PROVIDENCE, R.I. — A state Spokesman Larry Speakes also In support. Democratic Sens. major manufacturer of clutches and brakes since banking board will re-examine a to investigate it to be perfectly sure,” eral Manager Steven R. Werbner said Vice President Gwrge Bush John Melcher of Montana, Paul 1903, specializing in multiple disc clutches sold proposed merger between one of Rhode he said. said today. postponed a political trip to Texas Simon of Illinois, Tom Harkin of under the registered trade mark "Maxitorq.” Island’s largest banks and the Bank of The Board of Bank Incorporators has Robert Dusza Jr., superintend to preside over the Senate to Iowa and several House members Since 1978, the beginning of Armstrong’s Boston in light of recent legal problems final state approval over mergers. It ent of the Southbridge (Mass.) provide a tie-breaking vote on two will plant more than 200 crosses in presidency, the company has tripled its output at the Massachusetts bank. includes the attorney general, the state Sewage Treatment Plant, was Lafayette Square across from the and added three new buildings at the Main Street treasurer, the director of business appointed sewer operations man Democratic amendments, if ncc- Bank of Boston pleaded guilty White House, to mark the number location. Sprag clutches will be stocked at the administration, one state senator and ager from among seven candi UPl photo cesary, on measures whose out recently to federal felony charges for come he predicted will be close. of farms that fail each day. Manchester location. one state representative. dates, Werbner said. His salary The use of crosses to protest failure to report the transfer of $1.2 will be $24,458 a year, a news "The president’s advisers will be billion through Swiss banks, and was Joseph Barrett, a Hospital Trust vice farm failures is spreading across release said. Unwelcome water unanimous in recommending a Rogers reports records fined $500,000. Bank of Boston Chair president, said the reconsideration is the nation. The two positions were created veto of this budget-busting legis- Rogers Corp. has reported record sales of man William Brown also admitted an not the only thing holding up the The 103 South Dakota lawmak last year when the Board of laton,” Speakes said. "What’s $137,088,000 for 1984, up 25 percent from the organized crime family may have merger. He said the bank is also neighborhood. Rivers are expected to ers -- making the first trip by a Directors voted to place the water Residents and volunteers stand in front happened is the Democrats cried $109,943,000 in 1983. , laundered as much as $2 million in cash awaiting Federai Reserve Board ap crest in the area today, the National state law making body to petition and sewer field operations under of houses watching pumps force water deficit’ throughout the campaign Profits of $6,368,000, or $2.15 per share, proval, which hinges on a pending Congress on any matter — made through the bank.

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