BUSINESS MEMO

Southwestern Bell Telephone and co-sponsors are offering $110,000 in Economic Excellence grants to fund economic growth projects in Missouri.

"Applicants must be state, regional or local industrial or economic-development organizations, Chambers of Commerce, government entities or organizations identified with economic-development goals," said Craig Felzien, local area manager-community relations for Southwestern Bell here.

Groups from areas receiving local telephone service from Southwestern Bell may request between $1,000 and $10,000 for projects as diverse as developing incubators for small business development to enhancing street appeal of a commercial district with signs and other improvements.

"Innovative projects are encouraged," said Felzien. "Videos, brochures and billboards will not be considered."

Other sponsors of the program are the Missouri Department of Economic Development, Missouri Industrial Development Commission, Hawthorn Foundation, Missouri Chamber of Commerce and Missouri Press Association.

Requests for applications and questions may be directed to Felzien at (314)-334-9882.

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ST. LOUIS Drury Inns Inc., a hotel chain that started in Southeast Missouri 20 years ago, has won top honors in two hotel-industry competitions.

The 1992 Zagat U.S. Hotel, Resort and Spa Survey put Drury Inn-Union Station at the top of its list for best value and best public facilities among St. Louis area hotels.

The Drury Inn-Union Station was also selected as a "Hotel of the Year" finalist in St. Louis by the St. Louis Convention and Visitors Commission, and the hotel's regional manager was nominated for "Sales Professional of the Year" in the same competition. Winners of these awards will be announced May 8.

The survey covered more than 1,500 hotels, resorts, spas and hotel chains across the country. More than 7,000 people who stay at hotels an average of 38 nights per year made their selections based on approximately 265,000 total nights in hotels.

Drury Inn-Union Station, which played host to former President Bush last fall when he and his entourage were in St. Louis for the first presidential debate, was once a YMCA that catered to rail workers from nearby Union Station. Today, the hotel is a remodeled, one-of-a-kind spot praised in the Zagat report for "nicer rooms than at the nearby Hyatt" and a "fun location" adjacent to popular shops and entertainment housed at Union Station.

Drury Inns operates more than 60 hotels in 11 states. The company headquarters are in St. Louis.

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ST. LOUIS Boatmen's National Bank of St. Louis provided more student loans in 1992 than any lender in the state, said the Missouri Student Loan Program, a division of the Missouri Coordinating Board for Higher Education.

Boatmen's financed one-fourth of all student loans in Missouri, and ranks among the top 10 student-loan lenders in the nation.

During fiscal 1992, Boatmen's made $18,308 student loans totaling $50.6 million a 16 percent increase over 1991 loan volume.

"We're pleased to recognize Boatmen's leadership role in supporting higher education in Missouri," said Charles J. McClain, Missouri commissioner of higher education. "Clearly, a significant number of Missourians are fulfilling their goals for post-secondary education with Boatmen's assistance."

Boatmen's has been active in the guaranteed-student-loan program since 1971.

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ST. LOUIS Mercantile Bancorporation Inc. reported net income of $27,197,000 for the first quarter of 1993, a 24.8 percent increase over restated first-quarter 1992 earnings of $21,777,000. On a per-share basis, first quarter net income was up 14.7 percent, from $1.02 in 1992 to $1.17 in 1993.

Additional shares issued in the second quarter of 1992 for Mercantile's merger with Ameribanc Inc. are reflected in the per-share comparison.

All prior year figures have been restated to include accounts and results of operations of MidAmerican Corp. and Johnson County Bankshares Inc., which were merged with Mercantile on Jan. 4, 1993, and accounted for as poolings-of-interest.

"Mercantile continued its solid earnings growth during the first quarter of 1993, reflecting a very strong net interest rate merging and increased non-interest income," said Thomas H. Jacobsen, Mercantile chairman and chief executive office. "The corporation has also continued to show improvements in its asset quality levels and productivity as it has grown in size.

Mercantile Bancorporation Inc., headquartered in St. Louis, owns 39 banks in Kansas, Illinois and Missouri, including Mercantile Bank of Cape Girardeau.

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ULLIN, Ill. The Shawnee Community College Automotive Technology Department recently received a fuel-injected overhead cam V-6 engine and an automatic transaxle from Guetterman Ford-Chrysler dealership in Cairo.

"This donation really shows cooperation with businesses in the region," said automotive technology instructor Clyde Shafer. "This will allow us to train students on more updated automotive systems."

The two items, which will be used for diagnosis and repair in course curriculum, are from a Mercury Villager mini-van.

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SPRINGFIELD, Ill. - Illinois could lose more than 20,500 coal-related jobs by 2000, costing the state $50 million in tax revenues, a new state report says.

The loss would be caused by the new federal clean-air rules and utilities' reluctance to use new methods to burn the state's high-sulfur coal, the state Department of Energy and Natural Resources said.

To offset the losses, the agency is recommending state tax incentives for the in-state development of pollution-control technology and for businesses that preserve or create new markets for Illinois coal.

Utilities last year used 54.5 million tons of high-sulfur Illinois coal, which is found mostly south of Springfield. The total is expected to decline by 13.6 million tons by 1995.

The reduced use of Illinois coal by utilities would cost Illinois 2,000 mining jobs by 1995 and nearly 3,500 jobs by the turn of the century.