SALT LAKE CITY -- In an effort to improve its balance sheet, Smith's Food & Drug Centers here has gone to the public debt and equity market for financing. But instead of relying on more conventional means, Smith's is raising capital to lower the debt on eight of its 30 southern California stores and its Riverside, Calif., distribution center by setting up a special trust. The trust, called Smith's Food & Drug Centers 1994 -- A Trust, sold about $300 million worth of pass-through ...

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