MEMO

Construction activity in Missouri was down in November but continues to be ahead of 1993 levels.

The F.W. Dodge Division of McGraw-Hill, an authority on the construction market, reported construction for the first 11 months at $5.2 billion, up 11 percent from the $4.7 billion during the same period in 1993.

Nonresidential construction during the first 11 months, which includes commercial, manufacturing and other buildings not designed for shelter, was reported at $1.85 billion, up 1 percent from $1.83 billion through November 1993.

Residential construction for the year through November is up 11 percent, at $2.4 billion, compared to $2.1 billion for the period in 1993.

Nonbuilding construction, which includes streets, highways, bridges, river and harbor developments, airports and a few other projects, was reported at $958,851,000 for the year, up 35 percent from the same period a year ago, at $710,873,000.

November totals show a 4 percent increase in nonresidential construction, from $144,183,000 in 1993 to $150,524,000 in November. Nonbuilding construction was reported at $40,529,000 in November, down 25 percent from the $54 million of November 1993. Residential was down 2 percent in the state in November, at $195,409,000, compared to the 1993 October totals of $199,877,000.

Total construction for November was down 3 percent, from $386,462,000 to $398,140,000 during the first 11 months of 1993.

Mercantile Bancorporation Inc., a St. Louis-based, $12.2 billion bank holding company, is expanding its presence in Iowa.

Mercantile and Plains Spirit Financial Corp., the holding company for Davenport-based First Federal Savings Bank of Iowa, have announced a definitive agreement to merge.

First Federal, with assets of $428 million, is the second largest Iowa thrift. It operates five branches -- three in Davenport and one each at Bettendorf and Muscatine -- and a lending office in Rock Island.

"Adding First Federal to Mercantile's network of banks will more than double our Iowa presence and bring another strong institution into our system," said Thomas H. Jacobsen, Mercantile's chairman and executive officer.

The merger is subject to approval by Plains Spirit shareholders and all appropriate regulatory authorities.

Mercantile Bancorporation owns 41 banks in Kansas, Illinois, Iowa and Missouri, including Cape Girardeau.

One session of "Leadership Missouri" will be held in Cape Girardeau this year.

Leadership Missouri, sponsored by the Missouri Chamber of Commerce, is a leadership enhancement program designed to help the state's business and civic leaders better understand the operation of Missouri government as well as the concerns and goals of the state's elected leaders.

The seven-month program consists of seven sessions throughout the state, starting with a three-day "Let's Get Acquainted" program to be held at Jefferson City April 18 to 20.

Other dates and sessions:

May 24 and 25: "Economic Growth for Missouri" at Springfield.

June 22 and 23: "Missouri's Natural Resources" at Chillicothe.

July 20 and 21: "Missouri's Social Concerns" at Kansas City.

August 24 and 25: "Missouri's Vital Sign" at Cape Girardeau.

Sept. 21 and 22: "Missouri's State of Intellect" at St. Louis.

Oct. 18 and 19: "The Leadership Challenge" at Lake of the Ozarks.

Cost of the program is $974 for Missouri Chamber members. Additional information is available by calling (314)-761-9315.

CARUTHERSVILLE -- The Brown Shoe Co. Building, vacated when the factory closed last year, is for sale.

The property, which includes a 98,000-square-foot building on 8.3 acres, is on Truman Boulevard and West 13th Street.

More than 450 jobs were lost when the factory closed.

COBDEN, Ill. -- The Southern Illinois Vegetable School will be held Jan. 17 at St. Joseph's Hall in Cobden.

Among topics to be discussed by Illinois Cooperative Extension Services experts will be product marketing and insect and disease control. Registration starts at 8:15 a.m. Cost of the school is $3. Additional information is available by calling (618)-993-3304.

MONTPELIER, Vt. -- A state board has denied a permit to build the first Wal-Mart in Vermont, fearing it will drive smaller stores out of business.

Nearby towns stand to lose tax revenue if their stores have to shut down because of competition from Wal-Mart, the Environmental Board ruled. Other opponents have said the project would lead to job losses.

The nation's No. 1 retailer has faced similar opposition from several, mostly rural communities, particularly in New England.

WASHINGTON -- Federal regulators have cleared the way for Ameritech to build cable television-like systems in six Midwest cities.

The Federal Communications Commission's action breaks through a backlog of several dozen requests by telephone companies to provide video services. It frees Ameritech to build in Detroit, Indianapolis, Chicago, Cleveland, Milwaukee and Columbus, Ohio -- projects requiring billions of dollars.