VULCAN &lt;VUL> SEES FIRST QUARTER OPERATING LOSS
  Vulcan Corp's first quarter operating
  results will show a loss, Chairman Lloyd I. Miller told told
  the annual meeting.
      The company reported a profit of 365,883 dlrs, 23 cts a
  share, for the first quarter last year with one cent a share
  coming from non-operating factors, a spokesman said.
      Miller attributed the expected loss to completion of the
  purchase transfer and consolidation of operating assets of the
  O'Sullivan Rubber Division, saying this was proving more costly
  and taking more time than originally anticipated.
      Vulcan is working to resolve the problems, Miller told
  shareholders, adding it appears it will take most of 1987 to
  find solutions.
  

