The/ART fact/NN that/DT New/JJ England/NNP proposed/VBD lower/JJR rate/NN increases/VBZ --/: 4.8/NN %/SYM over/IN seven/CD years/NNS against/IN around/IN 5.5/NN %/SYM boosts/VB proposed/JJ by/IN the/ART other/DT two/CD outside/IN bidders/NN --/: complicated/JJ negotiations/NNS with/IN state/JJ officials/NN ,/, Mr./NNP Ross/NN asserted/VBD ./. "/'' Now/RB the/ART field/NN is/VBZ less/RBR cluttered/VBN ,/, "/'' he/PRP added/VBD ./. Separately/RB ,/, the/ART Federal/JJ Energy/NN Regulatory/JJ Commission/NN turned/VBD down/RP for/IN now/RB a/ART request/NN by/IN Northeast/NN seeking/VBG approval/NN of/IN its/PRP$ possible/JJ purchase/NN of/IN PS/NNP of/IN New/JJ Hampshire/NN ./. Northeast/NN said/VBD it/PRP would/MD refile/NN its/PRP$ request/NN and/CC still/RB hopes/VBZ for/IN an/ART expedited/VBN review/NN by/IN the/ART FERC/NNP so/RB that/DT it/PRP could/MD complete/VB the/ART purchase/NN by/IN next/JJ summer/NN if/NN its/PRP$ bid/NN is/VBZ the/ART one/CD approved/VB by/IN the/ART bankruptcy/NN court/NN ./. PS/NNP of/IN New/JJ Hampshire/NN shares/VBZ closed/VBN yesterday/NN at/IN $/$ 3.75/NN ,/, off/IN 25/CD cents/NNS ,/, in/IN New/JJ York/NNP Stock/NN Exchange/NN composite/NN trading/NN ./. Norman/NNP Ricken/NNP ,/, 52/NN years/NNS old/JJ and/CC former/JJ president/NN and/CC chief/JJ operating/NN officer/NN of/IN Toys/NN "/'' R/NNP "/'' Us/PRP Inc./NN ,/, and/CC Frederick/NNP Deane/NN Jr./NN ,/, 63/NN ,/, chairman/NN of/IN Signet/NN Banking/NN Corp./NNP ,/, were/VBD elected/VBN directors/NNS of/IN this/DT consumer/NN electronics/NN and/CC appliances/NN retailing/NN chain/NN ./. They/PRP succeed/VBP Daniel/NN M./NN Rexinger/NNP ,/, retired/JJ Circuit/NN City/NN executive/NN vice/IN president/NN ,/, and/CC Robert/NNP R./NNP Glauber/NNP ,/, U.S./NNP Treasury/NN undersecretary/NN ,/, on/IN the/ART board/NN ./. Commonwealth/NN Edison/NN Co./NN was/VBD ordered/VBN to/IN refund/NN about/IN $/$ 250/CD million/CD to/TO its/PRP$ current/NN and/CC former/JJ ratepayers/NN for/IN illegal/JJ rates/NNS collected/VBD for/IN cost/NN overruns/VB on/IN a/ART nuclear/JJ power/NN plant/NN ./. The/ART refund/NN was/VBD about/IN $/$ 55/CD million/CD more/JJR than/IN previously/RB ordered/VBN by/IN the/ART Illinois/NN Commerce/NN Commission/NN and/CC trade/NN groups/NN said/VBD it/PRP may/MD be/VB the/ART largest/JJS ever/RB required/VBN of/IN a/ART state/NN or/CC local/JJ utility/NN ./. State/JJ court/NN Judge/NN Richard/NNP Curry/NN ordered/VBD Edison/NN to/TO make/VB average/NN refunds/VB of/IN about/IN $/$ 45/CD to/TO $/$ 50/CD each/DT to/IN Edison/NNP customers/NNS who/WP have/VBP received/VBN electric/JJ service/NN since/IN April/NNP 1986/NN ,/, including/VBG about/IN two/CD million/CD customers/NNS who/WP have/VBP moved/VBN during/IN that/DT period/NN ./. Judge/NN Curry/NN ordered/VBD the/ART refunds/VB to/TO begin/VB Feb./NN 1/CD and/CC said/VBD that/DT he/PRP would/MD not/RB entertain/VB any/DT appeals/NNS or/CC other/JJ attempts/NNS to/TO block/VB his/PRP$ order/NN by/IN Commonwealth/NN Edison/NN ./. "/'' The/ART refund/NN pool/NN .../: may/MD not/RB be/VB held/VBN hostage/NN through/IN another/DT round/NN of/IN appeals/NNS ,/, "/'' Judge/NN Curry/NN said/VBD ./. Commonwealth/NN Edison/NN said/VBD it/PRP is/VBZ already/RB appealing/VBG the/ART underlying/JJ commission/NN order/NN and/CC is/VBZ considering/VBG appealing/JJ Judge/NN Curry's/PRP$ order/NN ./. The/ART exact/JJ amount/NN of/IN the/ART refund/NN will/MD be/VB determined/VBN next/JJ year/NN based/NN on/IN actual/JJ collections/NN made/VBD until/IN Dec./NN 31/NN of/IN this/DT year/NN ./. Commonwealth/NN Edison/NN said/VBD the/ART ruling/NN could/MD force/VB it/PRP to/TO slash/VB its/PRP$ 1989/NN earnings/NN by/IN $/$ 1.55/NN a/ART share/NN ./. For/IN 1988/NN ,/, Commonwealth/NN Edison/NN reported/VBD earnings/NN of/IN $/$ 737.5/NN million/CD ,/, or/CC $/$ 3.01/NN a/ART share/NN ./. A/ART Commonwealth/NN Edison/NN spokesman/NN said/VBD that/RB tracking/VB down/RP the/ART two/CD million/CD customers/NNS whose/WP$ addresses/NN have/VBP changed/VBN during/IN the/ART past/JJ 3/CD 1\/2/NN years/NNS would/MD be/VB "/'' an/ART administrative/JJ nightmare/NN ./. "/'' In/IN New/JJ York/NNP Stock/NN Exchange/NN composite/NN trading/NN yesterday/NN ,/, Commonwealth/NN Edison/NN closed/VBN at/IN $/$ 38.375/NN ,/, down/IN 12.5/NN cents/NNS ./. The/ART $/$ 2.5/NN billion/CD Byron/NNP 1/CD plant/NN near/IN Rockford/NNP ,/, Ill./NNP ,/, was/MD completed/VBN in/IN 1985/NN ./. In/IN a/ART disputed/JJ 1985/NN ruling/NN ,/, the/ART Commerce/NN Commission/NN said/VBD Commonwealth/NN Edison/NN could/MD raise/VB its/PRP$ electricity/NN rates/VBZ by/IN $/$ 49/NN million/CD to/IN pay/NN for/advi/conj/p the/ART plant/NN ./. But/CC state/JJ courts/NNS upheld/VB a/ART challenge/NN by/IN consumer/NN groups/NN to/IN the/VBP commission's/PRP$ rate/NN increase/NN and/CC found/VBD the/ART rates/NNS illegal/JJ ./. The/ART Illinois/NN Supreme/JJ Court/NN ordered/VBD the/ART commission/NN to/TO audit/VB Commonwealth/NN Edison's/PRP$ construction/NN expenses/NNS and/CC refund/NN any/RB unreasonable/JJ expenses/NNS ./. The/ART utility/NN has/VB been/VBN collecting/VBG for/IN the/ART plant's/NN construction/NN cost/NN from/IN its/PRP$ 3.1/NN million/CD customers/NNS subject/NN to/IN a/ART refund/NN since/IN 1986/NN ./. In/IN August/NNP ,/, the/ART commission/NN ruled/VBD that/DT between/IN $/$ 190/NN million/CD and/CC $/$ 195/NN million/CD of/IN the/ART plant's/NN construction/NN cost/NN was/MD unreasonable/JJ and/CC should/MD be/FW refunded/VBN ,/, plus/IN interest/NN ./. In/IN his/PRP$ ruling/NN ,/, Judge/NN Curry/NN added/VBD an/ART additional/JJ $/$ 55/CD million/CD to/TO the/CD commission's/PRP$ calculations/NNS ./. Last/JJ month/NN ,/, Judge/NN Curry/NN set/VBD the/ART interest/NN rate/NN on/IN the/ART refund/NN at/IN 9/CD %/SYM ./. Commonwealth/NN Edison/NN now/RB faces/VBZ an/ART additional/JJ court-ordered/JJ refund/NN on/IN its/PRP$ summer\/winter/NNS rate/NN differential/NN collections/NN that/WDT the/ART Illinois/NN Appellate/JJ Court/NN has/VB estimated/VBN at/IN $/$ 140/NN million/CD ./. And/CC consumer/NN groups/NN hope/VBP that/RB Judge/VB Curry's/PRP$ Byron/NNP 1/CD order/NN may/MD set/VB a/ART precedent/NN for/IN a/ART second/JJ nuclear/JJ rate/NN case/NN involving/VBG Commonwealth/NN Edison's/PRP$ Braidwood/NNP 2/CD plant/NN ./. Commonwealth/NN Edison/NN is/VBZ seeking/VBG about/IN $/$ 245/NN million/CD in/IN rate/NN increases/NNS to/IN pay/NN for/advi/conj/p Braidwood/NNP 2/CD ./. The/ART commission/NN is/VBZ expected/VBN to/TO rule/VB on/IN the/ART Braidwood/NNP 2/CD case/NN by/IN year/NN end/NN ./. Last/JJ year/NN Commonwealth/NN Edison/NN had/VBD to/TO refund/NN $/$ 72.7/NN million/CD for/advi/conj/p poor/JJ performance/NN of/IN its/PRP$ LaSalle/NNP I/CD nuclear/JJ plant/NN ./. Japan's/PRP$ domestic/JJ sales/NNS of/IN cars/NNS ,/, trucks/NN and/CC buses/NN in/IN October/NNP rose/VBD 18/CD %/SYM from/IN a/ART year/NN earlier/RBR to/IN 500,004/NN units/NNS ,/, a/ART record/NN for/IN the/ART month/NN ,/, the/ART Japan/NNP Automobile/NN Dealers'/PRP$ Association/NN said/VBD ./. The/ART strong/JJ growth/NN followed/VBD year-to-year/NN increases/VBZ of/IN 21/CD %/SYM in/IN August/NNP and/CC 12/CD %/SYM in/IN September/NNP ./. The/ART monthly/JJ sales/NNS have/VBP been/VBN setting/NN records/VBZ every/DT month/NN since/IN March/NNP ./. October/NNP sales/NNS ,/, compared/VBN with/IN the/ART previous/JJ month/NN ,/, inched/NN down/IN 0.4/NN %/SYM ./. Sales/NNS of/IN passenger/NN cars/NNS grew/VBD 22/NN %/SYM from/IN a/ART year/NN earlier/RBR to/IN 361,376/NN units/NNS ./. Sales/NNS of/IN medium-sized/JJ cars/NNS ,/, which/WDT benefited/VBD from/IN price/NN reductions/NNS arising/VBG from/IN introduction/NN of/IN the/ART consumption/NN tax/NN ,/, more/JJR than/IN doubled/NN to/IN 30,841/NN units/NNS from/IN 13,056/NN in/IN October/NNP 1988/NN ./. Texas/NNP Instruments/NNS Japan/NNP Ltd./NN ,/, a/ART unit/NN of/IN Texas/NNP Instruments/NNS Inc./NN ,/, said/VBD it/PRP opened/VBD a/ART plant/NN in/IN South/JJ Korea/NN to/TO manufacture/VB control/NN devices/NNS ./. The/ART new/JJ plant/NN ,/, located/VBN in/IN Chinchon/NNP about/IN 60/CD miles/NN from/IN Seoul/NN ,/, will/MD help/VB meet/VB increasing/VBG and/CC diversifying/VBG demand/NN for/IN control/NN products/NNS in/IN South/JJ Korea/NN ,/, the/ART company/NN said/VBD ./. The/ART plant/NN will/MD produce/VB control/NN devices/NNS used/VBD in/IN motor/JJ vehicles/NNS and/CC household/JJ appliances/NN ./. The/ART survival/NN of/IN spinoff/NN Cray/NNP Computer/NN Corp./NNP as/IN a/ART fledgling/NN in/IN the/ART supercomputer/NN business/NN appears/VBZ to/TO depend/VB heavily/RB on/IN the/ART creativity/NN --/: and/CC longevity/NN --/: of/IN its/PRP$ chairman/NN and/CC chief/JJ designer/NN ,/, Seymour/NN Cray/NNP ./. Not/RB only/RB is/VBZ development/NN of/IN the/ART new/JJ company's/NN initial/NN machine/NN tied/VBD directly/RB to/IN Mr./NNP Cray/NNP ,/, so/RB is/VBZ its/PRP$ balance/NN sheet/NN ./. Documents/NN filed/VBD with/IN the/ART Securities/NN and/CC Exchange/NN Commission/NN on/IN the/ART pending/JJ spinoff/NN disclosed/VBD that/DT Cray/NNP Research/NN Inc./NN will/MD withdraw/VB the/ART almost/RB $/$ 100/CD million/CD in/IN financing/NN it/PRP is/VBZ providing/VBG the/ART new/JJ firm/JJ if/VB Mr./NNP Cray/NNP leaves/NNS or/CC if/CC the/ART product-design/VB project/NN he/PRP heads/NN is/VBZ scrapped/JJ ./. The/ART documents/NNS also/RB said/VBD that/det/pron/that although/WDT the/ART 64-year-old/NN Mr./NNP Cray/NNP has/VB been/VBN working/JJ on/IN the/ART project/NN for/advi/conj/p more/JJR than/RBR six/CD years/NNS ,/, the/ART Cray-3/NN machine/NN is/VBZ at/IN least/JJS another/DT year/NN away/IN from/IN a/ART fully/RB operational/JJ prototype/VB ./. Moreover/RB ,/, there/EX have/VBP been/VBN no/DT orders/NN for/IN the/ART Cray-3/NN so/RB far/RB ,/, though/IN the/ART company/NN says/NN it/PRP is/VBZ talking/NN with/IN several/JJ prospects/NNS ./. While/IN many/JJ of/IN the/ART risks/NNS were/VBD anticipated/VBN when/WRB Minneapolis-based/JJ Cray/NNP Research/NN first/RB announced/VBN the/ART spinoff/NN in/IN May/NNP ,/, the/ART strings/NN it/PRP attached/VBD to/TO the/ART financing/NN had/VBD not/RB been/VBN made/VBN public/NN until/IN yesterday/NN ./. "/'' We/PRP did/VB not/RB have/VBP much/RB of/IN a/ART choice/NN ,/, "/'' Cray/NNP Computer's/PRP$ chief/JJ financial/JJ officer/NN ,/, Gregory/NN Barnum/NNP ,/, said/VBD in/IN an/ART interview/NN ./. "/'' The/ART theory/NN is/VBZ that/DT Seymour/NN is/VBZ the/ART chief/JJ designer/NN of/IN the/ART Cray-3/NN ,/, and/CC without/IN him/PRP it/PRP could/MD not/RB be/VB completed/VBN ./. Cray/NNP Research/NN did/VB not/RB want/VB to/TO fund/NN a/ART project/NN that/WDT did/VB not/RB include/VB Seymour/NN ./. "/'' The/ART documents/NNS also/RB said/VBD that/DT Cray/NNP Computer/NN anticipates/VB needing/NN perhaps/RB another/DT $/$ 120/CD million/CD in/IN financing/NN beginning/VBG next/JJ September/NNP ./. But/CC Mr./NNP Barnum/NNP called/VBD that/DT "/'' a/ART worst-case/NN "/'' scenario/NN ./. The/ART filing/NN on/IN the/ART details/NNS of/IN the/ART spinoff/NN caused/VBD Cray/NNP Research/NN stock/NN to/TO jump/VB $/$ 2.875/NN yesterday/NN to/IN close/JJ at/IN $/$ 38/NN in/IN New/JJ York/NNP Stock/NN Exchange/NN composite/NN trading/NN ./. Analysts/NN noted/VBD yesterday/RB that/DT Cray/NNP Research's/NN decision/NN to/TO link/VB its/PRP$ $/$ 98.3/NN million/CD promissory/NNS note/NN to/IN Mr./NNP Cray's/PRP$ presence/NN will/MD complicate/NN a/ART valuation/NN of/IN the/ART new/JJ company/NN ./. "/'' It/PRP has/VB to/TO be/VB considered/VBN as/IN an/ART additional/JJ risk/NN for/IN the/ART investor/NN ,/, "/'' said/VBD Gary/NN P./NN Smaby/NNP of/IN Smaby/NNP Group/NN Inc./NN ,/, Minneapolis/NN ./. "/'' Cray/NNP Computer/NN will/MD be/VB a/ART concept/NN stock/NN ,/, "/'' he/PRP said/VBD ./. "/'' You/PRP either/RB believe/VB Seymour/NN can/MD do/VB it/PRP again/RB or/CC you/PRP do/VBP not/RB ./. "/'' Besides/RB the/VBP designer's/PRP$ age/NN ,/, other/JJ risk/NN factors/NNS for/IN Mr./NNP Cray's/PRP$ new/JJ company/NN include/VBP the/VBP Cray-3's/PRP$ tricky/JJ ,/, unproven/NN chip/NN technology/NN ./. The/ART SEC/NNP documents/NNS describe/VBP those/DT chips/NN ,/, which/WDT are/VBP made/VBN of/IN gallium/NN arsenide/NNS ,/, as/IN being/VBG so/RB fragile/JJ and/CC minute/VB they/PRP will/MD require/VB special/JJ robotic/NN handling/NN equipment/NN ./. In/IN addition/NN ,/, the/ART Cray-3/NN will/MD contain/VB 16/CD processors/NNS --/: twice/RB as/IN many/JJ as/IN the/ART largest/JJS current/JJ supercomputer/NN ./. Cray/NNP Computer/NN also/RB will/MD face/VB intense/JJ competition/NN ,/, not/RB only/RB from/IN Cray/NNP Research/NN ,/, which/WDT has/VB about/IN 60/CD %/SYM of/IN the/ART world-wide/JJ supercomputer/NN market/NN and/CC which/WDT is/VBZ expected/VBN to/TO roll/VB out/RP the/ART C-90/NNP machine/NN ,/, a/ART direct/JJ competitor/NN with/IN the/ART Cray-3/NN ,/, in/IN 1991/NN ./. The/ART spinoff/NN also/RB will/MD compete/VB with/IN International/JJ Business/NN Machines/NN Corp./NNP and/CC Japan's/PRP$ Big/JJ Three/CD --/: Hitachi/NNP Ltd./NN ,/, NEC/NNP Corp./NNP and/CC Fujitsu/NN Ltd/NNP ./. The/ART new/JJ company/NN said/VBD it/PRP believes/VBZ there/EX are/VBP fewer/JJR than/IN 100/CD potential/JJ customers/NNS for/IN supercomputers/NN priced/VBN between/IN $/$ 15/CD million/CD and/CC $/$ 30/CD million/CD --/: presumably/RB the/ART Cray-3/NN price/NN range/NN ./. Under/IN terms/NNS of/IN the/ART spinoff/NN ,/, Cray/NNP Research/NN stockholders/NN are/VBP to/TO receive/VB one/CD Cray/NNP Computer/NN share/NN for/IN every/DT two/CD Cray/NNP Research/NN shares/VBZ they/PRP own/JJ in/IN a/ART distribution/NN expected/VBN to/TO occur/VB in/IN about/IN two/CD weeks/NNS ./.