SEARS <S> TO REDEEM ADJUSTABLE RATE PREFERRED
Sears, Roebuck and Co said it will
redeem all its outstanding adjustable rate preferred shares,
first series. The redemption price is 103.79 dlrs a share,
which includes accrued and unpaid dividends from April 1, 1987,
to the date of redemption of 79 cts a share.
    Of the 50 mln shares authorized, 2.5 mln were issued, the
company said.
    It said no dividends will accrue on the shares after May
15, 1987.
 Reuter
