SEC News Digest, 09-17-1987

[Pages:8]Issue 87-177

September 17, 1987

COMMISSION ANNOUNCEMENTS

SEC SIXTH ANNUAL GOVERNMENT-BUSINESS FORUM ON SMALL BUSINESS CAPITAL FORMATION CONCLUDED

Chairman David S. Ruder convened the sixth annual Government-Business Forum at the L'Enfant Plaza Hotel in washington, D.C. on September 14, 1987. The Commission conducts this annual convocation of small businessmen and their advocates with representatives of government to consider impediments to the capital formation process.

Approximately 150 participants attended lectures and panel discussions concerning equity financing over a two-day period. The agenda for the first day provided an examination of financing assistance programs offered by federal, state, local government and private organizations. The traditional methods of attracting equity financing for seed or starting up and growth purposes as well as "going public" were considered during the second day of the program.

FOR FURTHER INFORMATION CONTACT: Richard K. Wulff or Karen O'Brien at (202) 272-2644

CIVIL PROCEEDINGS

COMPLAINT FILED AGAINST ANTHONY P. STRANGlE AND MYER SPECTOR

The Atlanta Regional Office filed a complaint on September 1 in the U.S. District Court for the Northern District of Georgia against Anthony P. Strangie and Myer Spector, seeking preliminary and permanent injunctions against further violations of, among others, the antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The complaint alleges that the registration statement of Colonial X-Ray Corporation for the offer and sale of its common stock which went effective May 12, 1983 was false and misleading and that they were responsible. It also alleges that sales and revenues were overstated and that a loss of almost $89,000 should have been reported rather than a profit of almost $1],000. It further alleges that Strangie aided and abetted Colonial's failure to file or timely file annual and quarterly reports and notifications of inability to timely file reports. It was also alleged that Strangie and Spector aided and abetted Colonial's violations of the books and records provisions of the Exchange Act and that Strangie had made misleading statements to the accountants in connection with the preparation and filing of the registration statement and 1983 annual report. (SEC v. Anthony Peter Strangie, et al., USOC NDGA, Civil Ation No. C87-1952A). (LR-:-11539)

INFORMATION FILED AGAINST JOHN G. KENNING AND JOHN M. CARPENTER

The Atlanta Regional and Miami Branch Offices announced that on August 27 Leon B. Kellner, U.S. Attorney for the Southern District of Florida, filed a three-count information against John G. Kenning, of Delray Beach, Florida, and John M. Carpenter, of Boca Raton, Florida. The information charges defendants with one count of wire fraud, one count of securities fraud in violation of Section 17(a) of the Securities Act of 1933, and one count of conspiring to violate the mail fraud, wire fraud, and securities fraud statutes.

Defendants were formerly employed as account executives by a New York Stock Exchange member firm. The information charges that, between October 1984 and July 1986, defendants obtained over $8 million from investors by, among other misrepresentations, falsely stating that funds invested were being used to purcha~e municipal bonds for individual investors' accounts or participatory interests in a pool of municipal bonds in an account controlled by defendants. The information further charges that defendants misappropriated the investors' funds.

[The U.S. Attorney, in announcing the filing of the information, commended the investigative work of of the Miami Branch Office and the FBI.] (U.S. v. John G. Kenning and John M. Carpenter, Case No. 87-8081-CR-ROETTGER, SDFL). (LR-11540)

INVESTMENT COMPANY ACT RELEASES

BENHAM TARGET MARURITIES TRUST

A notice has been issued giving interested persons until October 9 to request a hearing on an application filed by Benham Target Maturities Trust and Capital Preservation Fund, Inc. for an order permitting certain affiliated transactions involving investment company shares. (Rel. IC-15977 - Sept. 14)

EATON VANCE CORPORATE HIGH INCOME DOLLAR FUND, L.P.

An order has been issued on an application filed by Eaton Vance Corporate High Income Dollar Fund, L.P. and Eaton Vance U.S. Government Income Dollar Fund, L.P. declaring that the present and future individual Managing General Partners of each limited partnership shall not be deemed "interested persons" solely due to their status as partners of each limited partnership. (Rel. IC-15978 - Sept. 15)

CORRECTION RE INVESTMENT COMPANY ACT RELEASES

The September 15th and 16th News Digest listed incorrect Investment Company Act release

numbers. The correct release numbers are as follows: September 15th - Hidden Stren9th

Funds, IC-15972; Gold Reserve,Corporation, IC-15973; and Andelsbanken A/S, IC-15974;

September 16th - Provident Mutual Life Insurance Company of Philadelphia, IC-15975;

New England Mutual Life Insurance Company, IC-15976.

HOLDING COMPANY ACT RELEASES

CONSOLIDAT.ED NATURAL GAS COMPANY

A supplemental order has been issued regarding intra-system financing transactions by Consolidated Natural Gas Company, a registered holding company, and its subsidiaries, Consolidated Natural Gas Service Company, Inc., CNG Coal Company, CNG Energy Company, CNG Research Company, The Peoples Natural Gas Company, Consolidated Gas Transmission corporation, Consolidated System LNG Company, CNG Producing Company, CNG Development Company, West Ohio Gas Company, CNG Trading Company, The East Ohio Gas Company, The River Gas Company, and Hope Gas, Inc. This order releases jurisdiction reserved with regard to the transactions of Hope Gas, Inc. and The People Natural Gas Company in a prior Commission order dated June 12, 1987 [Rel. 35-24412]. (Rel. 35-24461 - Sept. 15)

USTING, DELISTING AND UNUSTED TRADING ACTIONS

UNLISTED TRADING SOUGHT

Notices have been issued glvlng interested persons until October 7 to comment on the applications of the Philadelthia Stock Exchange for unlisted trading privileges in one issue each (two separate app ications> which are listed and registered on one or more other national securities exchanges and are reported in the consolidated transaction reporting system. (Rel. 34-24921; 34-24922)

UNLISTED TRADING GRANTED

An order has been issued granting the application of the Midwest Stock Exchange for unlisted trading privileges in the common stock of four issues which are listed and registered on one or more other national securities exchanges and are reported in the consolidated transaction reporting system. (Rel. 34-24923)

2

NEWS DIGEST, September 17, 1987

SELF-REGULATORY ORGANIZATIONS

ACCELERATED APPROVAL OF PROPOSED RULE CHANGE

The Commission granted accelerated approval to a proposed rule change filed by the Chicago Board Options Exchange (SR-CBOE-87-41) to add December and March 230 calls and puts in its Standard and Poor's 500 stock index options. (ReI. 34-24920)

TRUST INDENTURE ACT REWSES

AMERICAN AIRLINES, INC.

An order has been issued under the Trust Indenture Act of 1939 on an application by American Airlines, Inc. that (a) the trusteeship in a single transaction of the Connecticut National Bank under certain indentures that are subject to qualification under the Act and two or more indentures to be qualified under the Act, (b) the trusteeship of the Bank under one or more of such qualified indentures and under a certain other indenture not subject to qualification under the Act, are not so likely to involve a material conflict of interest as to make it necessary in the public interest or for the protection of investors to disqualify the Bank from acting as trustee any of such indentures. (ReI. TI-2118)

SECURmES ACT REGISTRAnONS

The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue.

S-8 ADOBE RESOURCES CORP, 645 MADISON AVE, NEW YORK, NY 10022 (212) 158-8110 1,150,000 U17,896,438.50) COMMON STOCK. (fILE 33-lb1ftO - SEP. 09) (BR. 111

S-8

MARTIN MARIETTA CORP, 6801 ROCKLEDGE DR, BETHESDA, MD 20811 (301) 891-6000 -

2,000,000 ($104,120,000) COMMON STOCK. (FILE 33-16141 - 5EP. 091 (BR. 12)

S-8

PEERLESS TUBE CO, 58-16 LOCUST AVE, BLOOMfIELD, NJ 01003 - 50,000 ($362,500)

COMMON STOCK. (FILE 33-16881 - SEP. 09) (BR. b - NE~ ISSUE)

S-2 WASHINGTON BANCORPORATION, 619 14TH ST NW, WASHINGTO~, DC 20005 (202) 624-3098 805,000 ($15,295,0001 COMMON STOCK. (FILE 33-16888 - SEP. 03) (BR. 11

5-3

BOSTON cOlSON CO, 800 BOYLSTON ST, BOSTON, MA 02199 (611) 424-2000 - 100,000,000

($100,000,000) MORTGAGE BONDS. (fiLE 33-16890 - SEP. 10) (BR. 1)

S-2

ENERGEN CORP, 2101 SIXTH AVE NORTH, BIRMINGHAM, AL 35203 (205) 32.-8100 - 1,150,000

($27,312,500) COMMON STOCK. (fILE 33-16892 - SEP. 101 (aR. 1)

S-l TRANS WORLD MUSIC CORP, 38 CORPORATE CIRCLE, ALBANY, NY 12203 (5181 452-1242 515,000 ($11,393,1501 COHMON STOCK. CFILE 33-16893 - SEP. 101 (aR. 2)

S-11 HEAR STEARNS SECURED INVESTORS INC, 1601 ELK ST, DALLAS, TX 15201 - 1.000,000,000 ($1,000,000,0001 MORTGAGE BONOS. (fILE 13-11021 - SEP. 04) (BR. 12)

S-2

DOSKOCIL COMPANIES INC, 321 N MAIN ST. SOUTH HUTCHINSON, KS 61505 (3161 663-6141 -

50,000,000 U50,000,0001 STRAIGHT BONDS. (FILE 33-11023 - SEP. 041 (BR. 91

S-6 RESOURCES VARIABLE LIFE ACCOUNT ONE, ONE BRIDGE PLl, CIO RESOURCES LIfE INSURANCE CO, FORT LEE, NJ 0102~ (2011 461-0606 - INDEfINITE SHARES. OEPCSITOR: RESOURCES LIFE INSURANCE CO. (FILE 33-11034 - SEP. 041 (BR. 20 - NEW ISSUEI

S-6

NATIONAL MUNICIPAL TRUST ONE HUNDRED ? SIXTH SERIES, fl~ANCIAL SQ,

CIO THO~SON MCKINNON SECURITIES INr., NEW YOR~. NY 10005 - 13,000 ($14,3JO,00DI

UNIT INVESTMENT TRUST. DEPOSITOR: THOMSON MCKINNON SECURITIES INC. (fILE 33-17068 -

SEP. oa, (BR. 18 - NEw ISSUE'

NEWS DIGPST, Septembe- 17, 1987

$-3 COMMONWEALTH EDISON CO. ONE FIRST NATL PLl 37T~ FL, POBOX 7&7. CHICAGO. Il 60690 (312) 294-4321 - 550,000.000 (S550.000.000) STRAIGHT BONDS. (FILE 33-17072 - SEP. 081 IBR. 1)

N-IA CROSS MARKET OPPORTUNITY FUND INC. 2600 VIRGINIA AVE NW STE 701,

CIO JA~ES OAVIDSON. ~ASHINGTON, DC 20037 (202) 337-5800 - INDEfINITE SHARES.

UNDERwRITER: CROSS MARKET OPPORTUNI TY FlIND INC.. (FILE 33-17076 - SEP. 08) (8R. 17

- f'.t:1f ISSUE I

$-b

INSURED MUNICIPALS INCOME TR ~ IN QU TAX EX TRUST MUl SER 62 - 1,000 (51,050.0001

UNIT INVESTMENT TRUST. (fILE 33-17107 - SEP. 09) (BR. 18 - NEW ISSUEI

S-6

INSURED MUNICIPALS INCOME TR ~ IN QU TAX EX TRUST MUL SER 63, 1001 IIIARRENVllLERO,

CIO VAN KAMPEN MERRITT INC, LISLE, IL 60532 - 1.000 ($1,050,OOOj UNIT INVESTMENT TRUST.

DEPCSITCR: VAN KAMPEN MERRITT INC. (FILE 33-17108 - SEP. 091 (1m. 18 - NEW ISSUE)

S-6

INSURED MUNICIPALS INCOME TRUST & IN QU TAX EX TR MUl SER 64 - I,lOO (51,050,0001

UNIT INVESTMENT TRUST. (FILE 33-17109 - SEP. 091 (aR. 18 - NEW ISSUEI

S-6

iNSURED MUNICIPAl.S INCOME TR & IN QU TAX EX TRUST MUL SER 65 - I.GOt) 1$1,050,000'

UNIT INV~STMENT TRUST. (FILE 33-11110 - SEP. 09) tBR. 18 - NEW ISSUE)

S-6

INSURED MUNICIPALS INCOME TR & IN QU TAX EX TRUST MUL SER 66 - 1,000 ($1,050,0001

UNIT INVESTMENT TRUST. (FILE 33-17111 - SEP. 091 (SR. 18 - NEW ISSUEI

N-IA NATIONAL GOLD PLUS fUND INC, 605 THIRD AVE. NEW YORK, NY 10158 (2121 661-3000 (filE 33-17112 - SEP. 091 (8R. 18 - NEW ISSUE.

5-8

CCX NETWORK INC, 301 INDUSTRIAL BLVD, CONWAY, AK 72032 (501. 329-6836 - 187,500

(52.555,168.75. COMMON STOCK. (FILE 33-17115 ~ SEP. 08) (8R. 6)

S-3 CINTAS CORP, 11255 REED HARTMAN HGWY, CINCINNATI, OH ~5241 (513) 489-4000 - 212,458 U7,967tl751 COMMON STOCK. IFILE 33-17122 - SEP. 09' (aR. 7J

$-1 EVERGREEN RESOURCES INC. 1860 LINCOLN ST STEI 1250, DENVER. CO 80295 (3031 377-1300 - 7,308.~21 ($I,~QO.OOOJ COMMON STOCK. 3.136,g14 (5941,0921 COMMON STOCK. (FILE 33-17123 - SEP. Oql (eR. 121

5-4

PEOPLES HOLOING CO, 20q TROY ST, TUPELO. MS 38802 (6011 842-5273 - 260,000

($3,186,361) COMMON STOCK. (FILE 33-17124 - SOP. 091 (eR. 21

S-3

USLlfE CORP, 125 MAIDEN LN, NEW YORK, NY 10038 (2121 109-6000 - lOO,JOO,OOO

(S100.000.0001 STRAIGHT BONOS. (FILE 33-17126 - SEP. 09) (8R. 91

S-11 LOVE APARTMENT COMMUNITIES BROWNSVILLE, 515 OLIVE ST STE 1400. ST lO~IS, MO 63101

(3141 621-1200 - 151 ($155,000) LIMITED PARTNERSHIP CERTIFICATE. (FilE 33-17128 -

SEP. 09) (eR. 6)

5-8

FARED ROBOT SYSTEMS INC, 1410 PE8BLE DR, FORT WORTH, TX 76181 (817' 284-3401 -

20,000.000 (53.750,0001 COMMON STOCK. (FILE 33-17129 - SEP. 091 (8R. 9.

ACQUISITIONS OF SECURmES

companies and individuals must report to the Commission within ten days on Schedule 13D if after the acquisition of equity securities of a public company their beneficial interest therein exceeds five percent. Persons eligible to use the short form (Schedule 13G) may in lieu of filing a Schedule 130 file a Schedule 13G within 45 days after the end of the calendar year in which the person became subject to Section 13(d)(1). Companies and individuals making a tender offer mURt have on file at the time the tender offer commences a Schedule 140-1.

Below is a list of recent filings of Schedules 130 and 140, which includes the following information: Column 1 - the company purchased (top), and the name of the purchaser~ Column 2 - the type of security purchasedJ Column 3 - the type of form filed; Column 4 - the date the transaction occurred~ Column 5 - the current number of shares (in OOO's) owned (top) and the current percent owned~ Column 6 - the CUSIP numher (top) and the prior percent ownedJ and Column 7 - the status of the filing, i.e., new, update or revision.

4

NEWS DIGEST, Septembe~ 17, 1987

NAME AN[I cues OF STDCK/Olo,INER

FDRI'!

AMERICAN BIL TF'ITE INC MAF'CUS: NATALIE S:

CDM 13D

,- At1ER ICA~~ BIL TJ;;'ITEINC MARCUS: F'ICHAF'D ~ ET AL

CDI'! 13D

AMEPICAN BIL TI'"ITE INC MAI ................
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