Int'l Minerals slips into red

International Minerals & Chemical Corp. reported a net loss of$217 million for the fiscal year. Net earnings were $121.3 million,or $4.45 per share, last year. Sales totaled $1.17 billion, up afraction from previous year levels. Included in 1986 results are$210.8 million in sales from Mallinckrodt, which was acquired Feb.28. For the fourth quarter, the company lost $218.2 million comparedwith last year's net earnings of $17.6 million, or 65 cents pershare. Fourth-quarter sales from continuing operations were $434.1million, including $158.5 million from Mallinckrodt, compared with$332.4 million in 1985. Included in 1986 results are losses of$137.4 million from discontinued operations associated with theplanned dispositions of the industrial products and gas and oilbusinesses. STEIN ROE COMPLETES SALE

Stein Roe & Farnham, the Chicago-based investment managementfirm, has completed the previously announced sale of 80 percent ofits assets to Liberty Mutual Insurance Co., the firms said. Theformer Stein Roe partners will retain 20 percent of the firm andcontinue in their management roles. Terms of the sale were notdisclosed, but the purchase price is tied to Stein Roe's 1986 resultsand will be finalized at yearend. DR PEPPER SEEKING ANOTHER BUYER

Dr Pepper, the nation's No. 4 soft-drink maker, is seekinganother buyer now that a federal judge has put a hold on its mergerwith the industry leader, Coca-Cola. U.S. District Judge Gerhard A.Gesell issued the injunction Thursday at the request of the FederalTrade Commission, which objected to the proposed $470 millionpurchase on antitrust grounds. Asked if it might be interested in aDr Pepper purchase, Rolling Meadows-based Royal Crown Cola said itcould not comment because of pending antitrust litigation it filedagainst Coca-Cola. BUSINESS INCORPORATIONS UP

New business incorporations, led by activity in the New Englandand Middle Atlantic states, rose 8.1 percent in April from 58,887 inthe same month last year, Dun & Bradstreet reported. HIGH-TECH WORKER TURNOVER DOWN

Employee turnover in the nation's electronics industry during1985 dropped to its lowest level in the past five years, the PaloAlto, Calif.-based American Electronics Association reported.Turnover dropped to 17.6 percent last year, down nearly 3.5 percentfrom 1984. PASSPORT APPLICATIONS ON RISE

More Americans are applying for passports as fears of terrorismhave started to fade and the travel industry increases itspromotional efforts and reduces air fares, Travel Agent magazinereported. JAPAN VEHICLE EXPORTS HIT RECORD

Japan's vehicle exports during the first half of the year hit arecord number of 3.43 million, due partly to a sharp rise in exportsto Europe, the Japan Automobile Manufacturers Association said. DUFF & PHELPS ASSIGNS RATING

Duff & Phelps, the national credit rating agency, assigned aD&P-8 (high triple B) rating to USF&G Corp.'s proposed 4 millionshare offering of series A convertible exchangeable preferred stock.The $200 million preferred will be convertible into common stock. PITTWAY GAINS IN QUARTER, HALF

Pittway Corp. reported second-quarter earnings of $7.6 million,or $1.66 a share, up 11.8 percent, on sales of $140.12 million, up8.7 percent. For the half, the company earned $15.4 million, or$3.37 a share, down slightly, on sales of $286.13 million, up 11.2percent. JOBLESS CLAIMS FALL IN WEEK

Initial claims for state unemployment insurance fell 20,000 inthe week ended July 19 to 371,000 from 391,000 in the previous week,the Labor Department said. In the week ended July 12, some 2.659million people were receiving state unemployment benefits, down107,000 from the previous week. BOULEVARD BANCORP EARNINGS JUMP

Boulevard Bancorp, holding company for Boulevard Bank and FirstNational Bank of Des Plaines, reported second-quarter earnings of$2.6 million, up 40 percent from the year-ago period. Earnings pershare were $10.75. For the first six months, earnings were $5.7million, up 59 percent from one year ago.