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October 07, 1994|From Times Staff and Wire Reports

Salomon Expects Big 3rd-Quarter Loss: Salomon Inc. projected that it will lose $100 million after taxes in the third quarter, largely as a result of continued weakness in trading and underwriting operations. It will mark the investment bank's second consecutive period of huge losses and offers one of the more conspicuous examples of the damage caused by the downturn in the financial markets this year. Salomon, like other major Wall Street brokerages, was hit hard by the bond market tumble that began in February. The company reported a $200-million deficit in the second quarter. Salomon also cited weakness in underwriting volume and trades on behalf of clients. Salomon earned $20 million in the year-ago quarter.

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