Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, February 5, 1992 TAG: 9202050163
SECTION: BUSINESS PAGE: C5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Gasoline cost lowest since May 1990After 11 consecutive weeks of decline, the national average gasoline price is at its lowest level since the 1990 Memorial Day weekend, the American Automobile Association said Tuesday.
The motor club's weekly survey showed the average price of self-serve regular gasoline fell 1.6 cents this week to $1.049 per gallon.
The nationwide average price of self-serve regular leaded gasoline decreased 1.1 cents this week to $1.045 per gallon. The self-serve mid-grade unleaded average is 1.8 cents lower at $1.152 per gallon and the self-serve premium average fell 1.4 cents to $1.238. - Staff report
\ CSX gives 62-acre tract to Monticello
CHARLOTTESVILLE - CSX Corp., a Richmond transportation and real estate development company, said Tuesday it has donated 62 acres to the Thomas Jefferson Memorial Foundation, which owns and operates Monticello, Jefferson's mountaintop estate.
The tract straddles the Rivanna River about six miles south of Charlottesville near Shadwell, where Jefferson was born, Monticello officials said. The remains of Jefferson's flour mills lie in the flood plain between the CSX railroad tracks and the river.
The land links one of Jefferson's farms, Tufton, with his birthplace, where archaeologists have found two cellars thought to be the remains of his boyhood home. - Associated Press
\ NationsBank sets sale of new stock
NationsBank Corp., a Charlotte, N.C., bank holding company with operations in Western Virginia, said Tuesday it has filed a registration statement with the Securities and Exchange Commission to sell 7 million newly issued shares of its common stock.
Of that, 6 million shares will be offered to investors in the United States and 1 million shares will be offered in Europe.
Merrill Lynch & Co., The First Boston Corp., Morgan Stanley & Co. Inc. and the Robinson-Humphrey Co. will co-manage the issue and lead a syndicate of securities brokers selling the stock, the company said.
NationsBank said proceeds from the sale will be used for general corporate purposes and possible additional capital contributions to its subsidiaries.
NationsBank expects the shares to sell within 30 days at a price to be determined by the company and its underwriters just prior to the sale. - Staff report
\ Briefly . . .
Ashland Coal Inc., a Huntington, W.Va., mining and processing company, said Tuesday it has agreed to buy Dal-Tex Coal Corp. from the United Co. of Bristol. The $250 million transaction is subject to approval by directors of both companies and by government agencies. Dal-Tex includes more than 22,000 acres, primarily in Logan County, W.Va., with proven or probable reserves of about 220 million tons of low-sulfur coal.
\ CommTech Corp., a Roanoke computer, audio-visual and multimedia company, has been licensed as a dealer of computer systems and support services for Digital Equipment Corp.
\ Neighborhood Entertainment Inc., Richmond-based operator of Roanoke's Towers and Terrace movie theaters, has bought the Plaza Cinemas in Portsmouth from Century Theatres Inc. NEI also operates theaters in Richmond, Hampton, Norfolk, Hopewell and Northern Virginia.