September 24, 1996

Diamond Shamrock Inc and Ultramar Corp to merge through exchange of stock to form Ultramar Diamond Shamrock, independent oil refining and marketing giant; deal is valued at about $1 billion; Rodger R Hemminghaus, who will be chairman and chief executive, says firms expect to save about $75 million a year; Jean Gaulin will be vice chairman, president and chief operating officer (M)

Pres Clinton, in election-year nod to popularity of military programs, signs $256.6 billion spending bill that provides 3 percent raise for military personnel, even though bill allows $11.2 billion more for armed forces than Clinton requested; bill also includes unrelated but popular provisions to toughen Federal laws against stalking, making it crime to cross state lines for purpose of harassing someone; photo of Clinton signing bill (M)

Former Tyson Foods Inc chairman Donald J Tyson and friend, Frederick Lee Cameron, settle Securities and Exchange Commission charges that Tyson told Cameron in advance about firm's 1992 acquisition of Arctic Alaska Fisheries Corp; agree to pay total of over $150,000; deal seems to clear any others who might have been involved in trading; photo (M)

NJ Department of Environmental Protection, following opposition by politicians and homeowners along coast, withdraw plan that would place ban on rebuilding after storm damage in high-risk areas and an end to expensive sand replenishment where beach erodes quickly (New Jersey Daily Briefing) (S)

New Jersey Turnpike Authority announces crackdown on speeding, provoked by increase in single-vehicle fatal accidents this year (New Jersey Daily Briefing) (S)