Cable firms to appealCable television operators will...

BUSINESS DIGEST

April 10, 1993

Cable firms to appeal

Cable television operators will appeal a federal court ruling in Washington requiring one-third of their channels to be reserved for commercial and public TV broadcasters, an industry spokeswoman said yesterday.

The ruling, issued late Thursday, upholds a section of a new cable law that was challenged by cable operators and their programmers.

Legg Mason action

Legg Mason Inc. in Baltimore said yesterday that it registered $50 million of convertible subordinated debt with the Securities and Exchange Commission as part of its plan to increase capital and expand its brokerage operations.

Dollar little changed

The dollar closed yesterday little changed against major currencies in New York, slipping near its record low against the yen amid growing concern in Japan about the currency's strength.

The dollar slipped slightly, to finish at 113.10 yen, just above its record low of 112.90 yen. The U.S. currency was little changed at 1.6050 German marks.

China to order jets

The Chinese government will order 21 more Boeing jetliners worth approximately $800 million, Boeing said yesterday.

The order by the Civil Aviation Administration of China had been expected for several weeks. Two weeks ago, China's official news agency, Xinhua, reported that an order had been placed for 20 Boeing 737s, worth $600 million.

Cuts hurt SEC probes

Complex investigations of Wall Street wrongdoing may take longer and some smaller ones may never begin because of budgetary constraints, the Securities and Exchange Commission said yesterday.

That admission came in SEC documents outlining President Clinton's fiscal year 1994 budget proposal, which will require the elimination of 42 positions from the commission's staff of 2,677.

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