READING <RDGC> TO SELL PHILADELPHIA PROPERTIES Reading Co said it has agreed in principle to convey properties it owns in and around the Philadelphia Convention Center site to the city of Philadelphia and the Philadelphia Convention Center Authority. It said in exchange it will receive about 23 mln dlrs in cash, rights to acquire 22 acres adjacent to the Philadelphia International Airport and an option to acquire the development rights over the Gallery II shopping mall on Market Street in downtown Philadelphia. Reading said it will be responsible for the demolition and cleanup of certain of the properties, for which a portion of the cash proceeds will be escrowed. The company said it will continue to own and operate the Reading Terminal Market in Philadelphia. The land it is giving up amounts to about seven acrease and includes part of the Reading Terminal Train Shed, it said.