CANADIAN PACIFIC (CP) CONFIRMS EARNINGS

  Canadian Pacific Ltd said fourth
  quarter 1986 operating profit rose to 91.6 mln dlrs, or 30 cts
  a share, from 50.7 mln dlrs, or 20 cts a share, a year ago.
      The statement confirmed released preliminary earnings
  figures the company released in February.
      A 102.6 mln dlr gain on the sale of CP's Cominco Ltd
  interest helped raise final 1986 fourth quarter profit to 193.8
  mln dlrs or 65 cts a share.
      The company said a drop in 1986 full-year operating profit
  to 150.1 mln dlrs from a restated 252.7 mln dlrs in 1985 was
  due mainly to lower world oil prices.
      The company said its CP Rail division reported 1986 net
  income of 119.4 mln dlrs, compared with 133.4 mln dlrs in 1985.
  It said grain traffic recovered from drought-affected levels of
  a year ago but was offset by weakness in other traffic areas
  and increased expenses.
      It said the net loss from its Soo Line increased to 33.5
  mln dlrs loss from 8.7 mln dlrs loss in 1985, mainly due to
  restructuring charges.
      Canadian Pacific said favorable developments during the
  year included reduced bulk shipping losses as a result of a
  recovery in tanker markets and a turnaround in the forest
  products sector.
  

