HOUSTON -- Natural Resource Partners L.P. Wednesday reported third quarter results, showing net income up from the second period, but down from a year ago.

Net income was $25.2 million, or $0.36 per unit, down about 30 percent from the same period last year, but up from $20.4 million in the second quarter. Distributable cash flow was $30.1 million, down 44 percent from the third quarter of 2008.

"We are beginning to see improvements in the coal markets and particularly in the global metallurgical coal markets. These improvements yielded NRP improved price realizations across the board in all basins for both the quarter and year-to-date," said Nick Carter, president and chief operating officer. "As the U.S. economy improves, natural gas prices increase and utility stockpiles burn down, we expect both production and prices to rebound."

The board declared a quarterly distribution of $0.54 per unit, up 2.9 percent from the third quarter 2008.

Natural Resource Partners owns and manages mineral reserve properties and has its operations headquarters in Huntington.

Mining safety office now taking examination forms

The West Virginia Office of Miners' Health, Safety and Training is accepting applications to take the examinations for underground mine inspector and safety instructor.

Applications and required work history must be completed and returned to the Charleston MHS&T office by Monday, Nov. 30, for the board's review. The address is West Virginia Office of Miners' Health, Safety and Training, 1615 Washington St. East., Charleston, WV 25311-2126, ATTN: Mine Inspectors exam.

Applications came be downloaded from www.wvminesafety.org. For more information, call 304-957-2317.

Gov't criticizes Toyota press release on floor mats

WASHINGTON -- The government says Toyota Motor Corp. is misleading consumers about an investigation into problems with stuck gas pedals that led to a massive Toyota recall.

The National Highway Traffic Safety Administration said Wednesday it was still investigating the case and meeting with Toyota to hear about the company's plan to redesign the vehicles and fix "this very dangerous problem."

Toyota recalled 3.8 million vehicles last month over problems with gas pedals that got stuck on floor mats. The automaker said in a statement this week that NHTSA had concluded that no defect exists in vehicles in which the driver's floor mat is compatible with the vehicle and properly secured.

But the government says that is inaccurate and they are investigating possible causes of the acceleration problem.

JPMorgan settlement with SEC worth over $700M

WASHINGTON -- JPMorgan Chase & Co. has agreed to a settlement worth more than $700 million over federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.

The Securities and Exchange Commission on Wednesday announced the settlement with JPMorgan, which canceled interest-rate swap contracts with the county worth $700 million in March. The move lowers the county's bond debt to about $3.2 billion from $3.9 billion, but officials had no immediate comment on whether that was enough to help the county avoid filing what would be the largest municipal bankruptcy ever.

The Wall Street bank did not admit or deny the SEC allegations in agreeing to pay a $25 million civil fine and a $50 million payment to the county, and to forfeit $647 million in termination fees it claims the county owes from the canceled swap agreements.

Regulators have issued warnings for years over so-called "pay-to-play" relationships between investment firms and government officials in the $2.7 trillion municipal bond market, tapped by state and local governments around the country to finance schools, roads, hospitals and public works projects. The Jefferson County scandal last week brought the criminal conviction of Birmingham's former mayor on bribery, tax evasion and other charges.

United Bank reports $5M loss on investment

CHARLESTON -- The parent company of United Bank says it's rewriting third-quarter financial results to include a $5.04 million loss on an investment in a failed Chicago bank.

Charleston-based United Bankshares says in a regulatory filing Wednesday the loss stems from the shutdown of Park National Bank. Federal regulators took over Park and eight related banks owned by Oak Park, Ill.-based FBOP Corp. on Friday.

United says its investment in Park was worth $8.47 million as of September.

The shutdown occurred four days after United had released its third-quarter results, which the bank says it's going to change in its next quarterly report to the Securities and Exchange Commission.

United has approximately $8 billion in assets and branches in West Virginia, Virginia, Maryland, Ohio and Washington, D.C.

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