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  1.                                                                                 BUSINESS, Page 51Business NotesMANUFACTURINGGuns 'n' Losses
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  4.     Is it the tough economic times, the huge appetite for cheap
  5. "Saturday-night-specials" -- or both? Last week Colt's
  6. Manufacturing Co., a leading maker of commercial and military
  7. firearms, filed for bankruptcy under Chapter 11. A $10 million
  8. line of credit proffered by the Connecticut Development
  9. Authority and an Austrian bank, Creditanstalt, should give the
  10. company, the seventh largest gun producer in the U.S., time to
  11. reload and reorganize.
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  13.     There was a time when Colt's .45 revolver was synonymous
  14. with the Wild West. But a decline in military and police orders
  15. for quality weapons, foreign competition and a seemingly
  16. insatiable public hunger for automatic weapons and cheap
  17. handguns combined to stifle the 156-year-old firm.
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