SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report:
July 11, 1995
SALOMON INC
(Exact name of registrant as specified in its charter)
Delaware I-4346 22-1660266
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
Seven World Trade Center, New York, New York 10048
(Address of Principal Executive Offices) (Zip Code)
(212) 783-7000
(Registrant's Telephone No.)
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Item 5. Other Events
On July 11, 1995, the Registrant issued a press release, a
copy of which is filed herewith as Exhibit 99 and incorporated herein by
reference in its entirety.
Exhibits:
(99) Press release dated July 11, 1995
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SALOMON INC
(Registrant)
Date: July 11, 1995 By: /s/ Richard Carbone
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Controller
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Contact: Robert F. Baker
212-783-6299
New York, July 11, 1995 - Salomon Inc estimates that it lost approximately $65
million after tax in the second quarter. Salomon Brothers, the Company's
securities business, was profitable for the quarter. At Salomon Brothers a
strong performance by the client-related business (where revenues more than
doubled from the first calendar quarter) was largely offset by losses incurred
in its proprietary trading business. Losses incurred by the Phibro Division, the
Company's commodities trading business, contributed significantly to the overall
Salomon Inc loss. Results of Salomon Brothers' proprietary trading business and
of the Phibro Division can be expected to show significant quarter-to-quarter
volatility and should be viewed over longer time periods.
Robert E. Denham, Chairman of Salomon Inc stated: "I am encouraged by the
very substantial improvement in the client-related businesses of Salomon
Brothers, even though the overall results of Salomon Inc are disappointing."
Final quarterly results will be released on July 25.
