BALLY <BLY> TO TAKE 17.3 MLN DLR 1ST QTR CHARGE Bally Manufacturing Corp said it expects a charge to earnings in the first quarter of this year of 17.3 mln dlrs as a result of its deal to buy back 2.6 mln of its common shares from real estate developer Donald Trump. In a filing with the Securities and Exchange Commission, the Chicago-based hotel, casino, gambling and amusement concern also said the anticipated charge against first quarter earnings will not be deductible for federal income tax purposes. Under a February 21 deal, Bally agreed to buy 2.6 mln of the 3.06 mln shares held by Trump at 24 dlrs a share, or 62.4 mln dlrs, while Trump agreed not to try to seek control of Bally. The agreement also calls for Bally to pay Trump another 6.2 mln dlrs for certain agreements, claims and expenses related to his purchase of the Bally common stock, Bally said. Trump agreed not to buy any more Bally stock or to try to seek control of the company for 10 years, it said. Bear, Stearns and Co Inc signed a similar standstill agreement with Bally for three years, Bally said. But it can still deal in Bally stock as a broker, it said. The deal also obligates Bally to buy Trump's remaining stake in the company for 33 dlrs a share if the stock price does not reach that level by February 21, 1988, it said.