BUSINESS MEMO

Roosevelt Financial Group Inc. of St. Louis, holding company for Roosevelt Bank, reported record net interest income, net income and earnings per share for the three months ended March 31.

The company reported net income of $23.5 million, an increase of 52 percent from the 1994 first quarter of $15.5 million. The company reported earnings of 55 cents a share, up 25 percent from last year, when share earnings were reported at 44 cents a share.

Return on equity for the quarter was 20.95 percent and the return on assets was 1.04 percent.

Roosevelt recently announced plans to buy WSB Bancorp Inc., the holding company for Washington (Mo.) Savings Bank. Washington Savings reported Dec. 31 assets of $95.7 million.

With $8.5 billion in assets, Roosevelt Bank is Missouri's third largest financial institution with 181 offices throughout Kansas, Illinois and Missouri, including Cape Girardeau.

Drury Inn Inc. has announced plans for two new motels.

Construction will start within 30 days on a Drury Inn hotel in the Woodlands community of Houston, the fourth Drury Inn development in Houston in the past year. completion of the 153-room facility is expected in late February.

The company, headquartered at St. Louis, has already started construction of a 135-room Drury Inn at Interstate 70 and Mid River Drive in St. Peters. The new motel will be Drury's 14th in the St. Louis metropolitan area. Its 1,890 rooms makes it the largest hotelier in St. Louis.

A Pear Tree Inn by Drury recently opened at Terre Haute, Ind. The motel, owned by Druco and operated by Drury Inns Inc., is a conversion from a previous Days Inn.

The Joint Commission on Accreditation of Health Care Organizations has awarded accreditation to First American Home Care of Cape Girardeau.

First American provides a full range of skilled and other forms of care for patients. Services include skilled nursing, certified home health aides, high-tech nursing (IV therapy), physical therapy and medical social services. Additional services include homemaker, sitter-companion or private duty nurse.

The agency, 823 Bellevue, is part of First American Health Care, headquartered at Brunswick, Ga., which has more than 450 agencies in 22 states.

First American here held groundbreaking for a new building last week. The new structure will be constructed on South Broadview.

Clark Appliance Center, 223 S. Plaza Way, has become a dealer for the Holland Co. Inc. grill.

The gas grill, available in three models, can be used as a grill, steamer, smoker and oven.

Dana Corp. has announced record sales of $1.9 billion for the first quarter, 21 percent more than 1994 first-quarter sales of $1.6 billion.

Net income increased to $59 million, from $48.5 million during the same quarter last year. Earnings per share were 59 cents compared to 48 cents a year ago.

Dana, which manufactures and distributes drive train system products, engine and chassis products and other industrial products for vehicular and industrial equipment markets, has recorded 230 consecutive dividends without a decrease, dating back to 1936, said Southwood J. Morcott, chairman and chief executive officer.

Dana, which operates facilities in 27 countries and employs more than 36,000 people, has a Spicer Axle Division facility at 20765 Corporate Circle, off Highway 74, in Cape Girardeau.

Regional 23 National Cosmetology Association will meet at 7 p.m. May 9 at Hair Biz, 312 Independence, in Cape Girardeau.

The association meets monthly.

NEW YORK -- See an 800 number. Think free call.

Before long, 888 numbers will be here, too, and the nation's phone companies are hoping you'll think the same.

With 7.5 million numbers available in an area code, all the 800 numbers could be used up before year's end. Phone companies recently decided to use 888 as the next toll-free area code, followed in order by 877, 866 and on down to 822.

The number of toll-free 800 lines shot up 50 percent last year to 5.7 million, a growth rate that at first excited phone companies and then sent them scrambling to prevent wrong numbers and mistaken billing when the new 888 numbers are added.

WASHINGTON -- Sales of previously owned homes rose 5.8 percent nationally in March, the first advance in three months, as consumers were lured back into the housing market by falling mortgage rates.

Home buyers in every region of the nation took advantage of the more affordable environment, the National Association of Realtors reported today.

Sales of existing homes totaled 3.62 million at a seasonally adjusted annual rate, up from 3.42 million in February, when they fell 5.3 percent to the lowest level since 3.41 million in August 1992.