April 22, 1992

Citicorp said yesterday that it earned $183 million in the first quarter, thanks to higher profits in its consumer business and to gains on the sale of various investments and subsidiaries. Its stock rose $1.50, to $18.25, in active trading on the earnings news, even though its loan losses remained high. Several other leading banks -- including Chemical, Bankers Trust, Wells Fargo and Banc One -- reported strong earnings yesterday, sending their stocks up.

The Amoco Corporation said today that its net income fell 70.9 percent in the first quarter, providing the first look at what analysts expect to be a series of large profit declines within the oil industry. Excluding a special gain of $311 million in the corresponding quarter a year ago related to an accounting change, the earnings decline was 52.4 percent, to $234 million, or 47 cents a share, from $492 million, or 98 cents a share. Revenues fell 12.3 percent, to $6.4 billion from $7.3 billion.

OUR waiter recommends the almond-dusted turbot or the confit of duck. This is no small decision, not when the meal will cost at least $75 a person. You wonder: What did he eat for dinner? Has he ever tasted this food? Or did he grab a hot dog on the way to work? In most fancy restaurants, the waiters try the food occasionally. They do know what it tastes like. But they don't eat it every day.

The Dinkins administration said yesterday that New York City would end this fiscal year with a substantial surplus and therefore would not have to borrow to help balance next year's budget. The news represented a major turnabout from the budget trauma that has so dominated the first half of Mayor David N. Dinkins's term, highlighted by such Draconian threats as closing the Central Park Zoo.

RIPPLES FROM A SCANDAL Across New York, New Jersey and Connecticut, United Way organizations are suffering from the scandal that has shaken the United Way of America. As a result, the region's United Way directors -- from the $19,600-a-year executive in Sullivan County, N.Y., to the $291,000-a-year New York City chief -- are preparing to do battle for their personal reputations and the future of their charities. Already, unprecedented numbers of employees at New York area companies have canceled the pledges they made in the fall, and some spring fund-raising campaigns have been postponed. A1. NEW YORK CITY DINKINS ANNOUNCES A BUDGET SURPLUS The Dinkins administration said the city will end this fiscal year with a substantial surplus and will be able to avoid borrowing to balance next year's budget. The news represented a major turnabout from the budget trauma that has so dominated the first half of Mayor Dinkins's term. While a year ago, he threatened to close the Central Park Zoo, yesterday the Mayor was promising $3 million to fix up the Prospect Park Zoo. A1. BACKING FOR A COMMISSIONER Governor Cuomo, Mayor Dinkins and other political leaders rallied to the support of New York City's new Correction Commissioner, Catherine M. Abate, after New Jersey law-enforcement authorities said that her father had been a high-ranking member of an organized-crime group until three years ago. Mr. Cuomo praised Ms. Abate, as "one of our finest public servants." B3. A BEGGAR CALLS IT QUITS After years of standing on New York streets with a tin cup, Thomas Armstrong, a 64-year-old blind man who was injured two weeks ago when a cab mounted a midtown Manhattan sidewalk and hit him and his dog, said it was time to leave the city. "I'm afraid to go back now. I don't think I want to be on the streets of New York anymore. I guess I've lost my nerve." B3. Deliberations to start in tourist's slaying. B2. Indictment in bombing of real-estate office. B3. Harvey Myerson wraps up his defense in Federal fraud trial. B4. REGION A SURPLUS IN WESTCHESTER Continuing a long tradition, Westchester County announced a surplus of $22 million in its $1.1 billion 1991 budget and plans to rehire some workers who were laid off. But officials said they would still push for an increase in the county sales tax. Critics questioned whether the county had deliberately overestimated its spending and whether the tax increase is needed. B5. THE RABBI OF SING SING Irving Koslowe has been the rabbi of of the maximum security prison in Ossining, N.Y., for 42 years, serving what some might consider the most cloistered Jewish community in the country. "People ask me what I'm doing, bringing matzoh ball soup to a bunch of killers," he said, "But maybe we can make some change." B5. THE GOVERNOR'S STAND-IN Officially, he is a traveling representative for Governor Florio. But lately, Harold H. Spence Jr.'s job has been more akin to the stunt man who takes the pasting for the star. "I've been called a lackey, a yes man for the Governor and a lot worse," he said. B5. About New York B3 Chronicle ?<>? <>B7