McClatchy Newspapers Inc. stock is expected to...

McClatchy Newspapers Inc. stock is expected to fetch between $15 and $18 per share when its first public offering goes on the market in the second week of February, analysts said . . . Adler & Shaykin said it has accepted for payment about 7.8 million shares, or about 92%, of the outstanding common stock of Wherehouse Entertainment Inc. at $14 per share in cash . . . The Federal Reserve said the average yield for one-year T-bills, the most popular index for making changes in adjustable-rate home mortgages, fell to 6.90% last week after averaging 7.12% the week before . . . Airgas Inc. of Wilmington, Del., announced the acquisition of National Oxygen Co., Sacramento, for an undisclosed price. National has annual revenue of about $1.1 billion . . . Beech Aircraft Corp. announced that it will soon manufacture its Beechjet entirely in the United States at its facilities in Wichita and Salina, Kan. . . . Baker Hughes Inc., Houston, reported that the number of oil and gas drilling rigs working inthe United States dropped again last week, falling 28 to total 1,026. A year ago, the count was 837.

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