SEC News Digest, 04 23 1973 2175.2 Dig042373
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sec news di oest
a daily summary from the securities and exchange commission
lasue No. 73-78
(SEC Docket, Vol. I, No. 13 - Hay 8)
April 23, 1973
COURT ENFORCEMENT ACTIONS
J. SHAPIIO CO. ENJOINED.
'lbe SEC Chi~.o Regional Office snnounced that on April 13 the Pederal court
in MinnespoUs
pre11minarUy' enjoined J. Shapiro Co. frOll violating the net capital provia1ona of the
Securities Exchange Act of 1934. J. Shapiro Co. consented to the court order without admitting or denying
the allegations.
Upon application of the Securities Investor Protection Corporation, J. Shapiro Co. on
April 13 consented to the appointment of a trustee for the liquidation of J. Shapiro Co. SIPC alleged
that J. Shapiro Co. is currently insolvent in that it is unable to'meet its debts as they .. ture. (LR-S859)
SCHWARTZ, IWSHEL AND SAPERSTEIN SENTENCED IN CArrLE FRAUD. 'lbe New York lIegional Office announced that
on Harch 14 the Federal ~ourt in Manhattan fined Melvin J. lCushel $5,000 and Ruth Saperstein $1,000 and placed
them on probation for one year or until the fine la paid, 1Ihichever ca.s first. On March 16, 1973
Daniel X. B. Schwartz, a/k/a D1xbie Schwartz vas sentenced to the Medical Center for Pederal Prisons for
90 days. 'lbereafter, depending upon the l118dicalreport, Schwartz was sentenced to serve 5 years concurrently
on each of 27 counts and 2 years conae~utively on 1 count for a max~
of 7 years. 'lbese sentences were
imposed in connection with a cattle fraud invest.ent contract case. (LR-S86l)
HOLDING COMPANY ACT RELEASES
THE BAaD'ORD ELEC'ERIC LIGHT COMPANY.
'!be SEC h.. lasued an order authorizing 'lbe Hartford Electric
Light eo.pany, Wethersfield, Ccanecticut, subsidiary of Northeast Utilities, to issue and sell, $40,000,000
of Urst IIortgage bonds, due 2003, at cc.pet1tive bidding.
'lbe net proceeds will, be used to repay portions
of the short-term borrowings incurred to finance Hartford's construetionprogr...
(llel. 35-17934)
I
ALLBGHINY POWER SYSTEM. 'lbe SEC has issued a notice giving interested persons until May 21 to request
a hearing upon a proposal of Allegheny Power Systea, Inc. ,and three of its 1Iholly-owned subsidiaries,
Monoagahela Power CoIapany, 'lbe Pot __ e Edison ec.pany, and wast Penn Power ec.pany, for the suba1diaries
to issue and sell to the parent, prior to September 30, 1973, additional shares of their c~
stock for
an aggregate cash consideration of $20,000,000.
Net proceeds, together with other corporate funds, will
be used by the subsidiaries to finance their construction.
(llel. 35-17935)
EASTERN trrILITIES ASSOCIATES.
'l'heSEC bas issued an order author1l:ing Eastern Utilities Associatea,
Boston holding cOllpany, to amend its Declaration of Trust, subject to shareholder approval, to broaden the
indemnification of its trustees and officers against liabilities and expenses.
(Rei. 35-17936)
GEORGIA POWER COMPANY.
'l'heSEC has issued a notice giving interested persons until Hay 18 to request
a bearing regarding a proposal by Georgia Power eo.pany, Atlanta, Georgia subsidiary of 'l'heSouthern ec.pany,
to issue and sell $115,000,000 of first mortgage bonds at cc.petitive bidding.
'l'henet proceeds, together
with other available funds, will be used to finance, in part, Georgia's 1973 construction progr .. (esti .. ted
at $513,760,000), to pay notes payable in the form of bank notes and commercial paper notes incurred for
construction purposes and for other lawful purposes.
(Rei. 35-17937)
INVESTMENT COMPANY ACT RELEASES
BOOBNE C. SIT AND JAMES R, JUNDT. Pollowing entry of an injunction against Eugene C. Sit allllJ .. s 1.
Jundt in SIC v. Luma. Inc., et al., the eo.aission upon spplication, issued a notice of fillng of an
appUcation
by Eugene C. Sit and J_s
R. Jundt for a final order of exetlptlon frOll the provisions of
$ection 9(a) of the Inveae.ent eo.pany Act and an order of tellpOrary exellption pendina determination of
the application,
(Rei. IC-7777)
SIC BBWS DlClST. April 23.
1973
Pase 2
SAVIlGSBAlIt DlVESTIIIII'l'
PUIID. 'lbe SIC baa ieaued a notice giving intereated peraona until May 16 to
requeat a hearing on an application of Savinga Bank Inveat.ent Fund. Boaton. Maaaachuaetts _tual fund.
whoae aecuritiea are aold to Maaaachuaetta aavinga banke. for a aupp1e.. ntary order declaring that a propoaed
... nd.ant of the fund'a Cbarter which would permit Maaaachuaetts co-operative banks also to purchase the
fund'a aecurities,
will have no effect upon the validity of exemptiona granted by a prior order.
(lei. IC-7778)
FOUlU)IRS
C1I AMlRICAH DlVES'lHENT
COMPAIIY. 'lbe SIC haa ie8Ued an order permitting ModernAMrican Life
lnaurance eo.pany, Springfield, Missouri, an affiliated
person of Foundera of AMrican Inveatment Corporation,
a non-diveraified,
cloaed end .. nagement inveat.ent companyregistered under the Act, to purchaae 76.41 of· the
outstanding abarea of Founders Security Life Insurance Coatpany.
(ReI. IC-7779)
DIVIUIPIED TAX-UIMPT BOND FUND.CALIPOINIA SIRIES I. 'lbe SEChaa ieaued an order on an application
of Diversified Tax-ExemptBond Pund, California Seriel I (Fund), a unit inveatment truat regiatered under
the Act. and ita apons or , Blyth EaabUn Dillon & Co., Incorporated (Sponaor), permitting the Fund (and all
aubaequent national or atate aeriea of the aame or aimilar title of which Sponaor ia a aponaor or co-aponaor),
and the Sponaor, to .. ke a publiC offering of unita of the Fund (and unita of any aubaequent aeries), aub
aequent to the exchange by the Sponaor of bonda in the _nt
of $10 million for unite of the lund (or for
unita of any aubaequent aeriea). without having _de provision for the aale of unite in the a.NIIt of $100,000
to not .are than 25 inveatora, and permitting the Fund to make aeai-annual diatributions
of principal and
intereat,
including diatributtona of capital gaina fr_ a aeriea. and permitting the Sponsor. under certain
circu.atances,
to purchase and aell unita of a aeriea at pricea baaed on previoua1y determioedvaluea.
(lei. IC-7780)
MISCELLANEOUS
.PORTAI' lonCE
Many requests for copies of documents referred to in the daily SEC News Digest have erroneously been directed to
the Govemment Printing Office. They should be addressed: Public Reference Section, Securities and Exchange Commission,
Washington, D. C. 20549. The reproduction cost will approximate 12¢ per page, plus postage, for mai,lingwithin four days, to
2S¢ per page, plus postsge, for overnipt mailing. Cost estimates given on request.
RECENT fORM I·K fiLINGS.
The companies listed below have filed Form 8-K reports for the month indicated and
responding to the item of the Form specified in parentheses. The captions of the items are as follows:
Item
Item
Item
Item
Item
Item
1.
2.
3.
4.
S.
6.
Item
7.
Item 8.
Cbanges in Control of Registrant.
Acqusition or Diaposition of Assets.
Legal Proceedings.
Changes in Securities.
Changes in Security for Registered Securities.
Defaults upon Senior Securities.
Increase in Amountof Securities Outstanding.
Decrease in Amountof Securities Outstanding.
Item 9. Options to Purchase Securities.
Item 10. Revaluation of Assets or
Restatement of Capital Share ...ccount.
Item 11. Submission of Matters to a Vote of Security Holders.
Item 12. Changes in Registrant's Certifying Accountant.
Item 13. Other Materially lmportant Events.
Item 14. Financial Statements and Exhibits.
Copies of the reports may be purchased fromthe Commission's Public Reference Section (in ordering, please giue month and
Invoice will be included with the requested material when mailed.
year 0( report).
SICIEPORTSPOllHARCH 1973
Rational Car lenta1 Syat. Inc.
~3473-2
(3.14)
~3934-2
National Mortgage Pund (8)
National Starch & Chemical
IM3S8~2
Corp (4,7,14)
1-6981-2
National Systems Corp (14)
Hatural lleaourcea Pund. Inc.
~3347~2
<3,13)
Rev .Jersey Ilatura1 Gu Co.
(13.14)
0-93-2
The NewYorker Magazine Inc.
(11,13,14)
0-451·2
~6642-2
Newport Controls Corp (8)
1-3623-2
Rorris Oil Co. <7,14)
2-35965-2
North Shore Gas Co. (13)
Northern Indlana Public Service
1-4125-2
Co. <3.7)
~5965-2
Rortruat Corp (11.14)
Korthwenem rl~nce Co. (4,7> ~1997-2
~24S8-2
Korveaco. Inc. (11)
~39S8-2
OakmontCo~ <7,13)
Oc .... oszapby tlad.culture
lnduatriea
(7,8,12,14)
~5728-2
Ohio-Seely Mattresa Hfa Co.
( 11,14)
011 Resources Inc. (11)
Old Equity Financla1 Corp
(1,11,14)
Oregon Metallurgical Corp
<7,11)
Ozlte Corporation (4.14)
Pacific Asbestos Corp (6)
Pacific Tel 6. Tel Co. (11.14)
Package Machinery Company(7)
Pan American Bancsharea Inc.
(9,14)
Pato Consolidated Gold Dredging
Ltd. (13)
~ennsy1vania Co. (8)
Pennsylvania Electric Co.
01,14)
Peoples Gas Light & Coke Co.
(13)
Perkin-Elmer Corp (13.14)
Peterson, Bowell & Beether Inc.
(8)
1-6878-2
~S417-2
0-4552-2
~1339-2
~2138-2
~1144-2
1-1414-2
~5n-2
~4845-2
1-4295-2
1-4954-1
1-3522-2
~26983-2
1-4389-2
~1631-2
SECMEWS
DlGBST,April 23, 1973
P.ge 3
III REPORTS FORMARCH 1973 CONT'D
Petro-Lewi. Fund. 10c.
(13)
Pioneer Natural Ga. Co. (7.8)
Ponderosa International,
Inc.
(7)
Ponderosa System. 1nc.(9.13.14)
rope & Talbot. Inc.(8)
Preferred Risk Life Ins. Co.
(7.11.14)
Prelude Corp (13)
Process Systems. loc.(7.9.13.14)
Procter & Ga~b1e International
Co. (8)
Progressive Industries Corp
(7.14)
Prudent Real Estate Trust
(1.2.7.14)
Public Service Co. of Oklahoma
2-41365-2
l-59i7-2
0-6445-2
1-6707·2
1-7084-2
2-22520-2
0-5080-2
0-6050-2
1-5489-2
0-3453-2
1-5536-2
(7)
0-343-2
0-1359-2
Publishers Co•• Inc.(13.14)
Py~ld
Oil Company(12.14)
0-5525-2
0-6166-2
QUorumIndustries In,.(7.14)
Rahall COlllDlUlicationsCorp( 13) 0-5609-2
1.6870-2
Ransburg Corp (3)
0-6501-2
RedwoodBancorp (3.11.14)
0-2175-2
Robert Reis & Co (6)
0-3477-2
Rentex Services Corp (7.14)
0-4771-2
RepUblic Franklin Inc.(7)
Responsive Environments Corp
(2.6.13)
0-3103-2
Retention Communications Systems
Inc. (11)
2-34009-2
Reuter Inc.(9.13.14)
0-1561-2
Ilichardson-.1errell.
Inc.(3)
1-1029-2
Ilicoh Ti~e Corp (3)
2-42460-2
Robinex International
Ltd., Inc.
(2)
2-29880-2
Ros81llOOr
Corp (3)
1-6823-2
The Rouse Company<7.10.13)
0-1743-2
RowlandProducts, Inc.(2,8.14)
1-4402-2
Royal CrownCola Co.(U.14)
1-227-2
Ryan Homes, Inc.(8)
1-6565-2
Ryder System. Inc.(7.14)
1-4364-2
Ryerson & Haynes Inc.(7.14)
1-6260-2
Safeguard Indusdries. Inc.(13,14) 1-5620-2
St. Joseph Light & Power Co.
(4.7.14)
1-3576-2
Salaot Corp (7.8)
1-6666-2
Sargent-We1cb Scientific Co.(S) 1-4711-2
Scan-Dete Corporation( 10.13.14)
F.M. Schaefer Corp (13)
Earl Scheib Inc. (2,14)
Scberr-Tum1co Inc.(6,7.9.14)
Jos. Scblitz Brewing Co. (10)
Science ManagementCorp (13)
Scot's Inn HanagementCo. (13)
Scott & Fetzer Co. (11.14)
Seaboard Cout Line Rl Co.
n,14)
G.D. Searle & Co. (13)
Season-All Industriea(8,13.14)
Seatrain Lines. Inc.(3)
Seligman & Latz Inc.(ll)
Shakespeare Co. (13)
Sherwood Diversified Servicea.
Inc. (3)
Signode Corp (7)
Simon & Scbuater Inc.(13)
0-3077-2
1-5853-2
1-4822-2
0-2366-2
1-5431-2
1.6059-2
0-3174-2
1-5629-2
1-3359-2
1-4841-2
1-4706-2
1·5957-2
1-4437-2
1-6851-2
0-5038-2
1-1262-2
0;0389·2
The Soundscriber Corp (8)
0-2286.2
Speed Equipment Worlds of America.
Inc. (11)
2-42862-2
Spiral Heta1 Company,Inc.
(4.13,14)
0-3367.2
Springfield Gas Light Co.(ll)
0-721-2
Springs Hills. Inc.(2,14)
1-5315-2
Square Industries.
Inc.(9,11,14)
0-4979-2
Standard Brands Inc.(13)
1-1186-2
Star Realty Fund - 1972 (2)
2-43214-2
State Bond & Mortagge Co.{ll)
811-407-2
State EXploration Co.(ll,13)
0-2398-2
Sterchi Bros. Stores Inc.(14)
1-2504-2
Sterling CommunicationsInc.
(7.13)
0-3865·2
Sterling Computer Systems Inc.
(3)
0-5067-2
Storage Technology Corp(13,14) 0-6283·2
Stratoflex Inc.(8)
0-2750-2
Suburban Propane Gas Corp(7,14) 1-4401-2
SummersElectric Co. (2,14)
0-3034-2
Super Va1u Stores. Inc.
(4,7,8,14)
1-5418-2
SUperior Mfg & lnstt:'l.llllentCorp
(13)
0-2957.2
The Superior Oil Co. (13)
1-4744-2
Systematics General Corp(l3.14) 0-5536-2
Taylor International Corp (10) 0-2126-2
Technology Inc. (3)
TechnomicResearch Aasoclatea,
Inc. (13)
Teeg Research, 1nc.(6)
Telco Marketing Services. Inc.
(8)
Telecom Corp <2.14)
Te1ecredit, Inc.(3.13)
Teledyne, Inc.(11)
Telephone & Data Systems Inc.
(7)
Tennessee Valley Bancorp. Inc.
0-2901-2
0-5821-2
0-3925-2
2-41908-2
0-4202-2
0-3934-2
1-5212-2
(7)
0-6368-2
Termna1 Equipment Corp (7.14) 0-4354-2
Texaco Inc. (7.14)
1-27-2
Toledo Edison Company(3,7)
1-3583-2
Tool Research & Engineering
Corp (7)
1-5308-2
Torgino1 Industries.
Inc.(3.13) 0-1977-2
Torin Corp (11.14)
1-5934-2
Trans-lndusdries. Inc.(3)
0-4539-2
Transocean Oil, Inc.(10)
0-3913-2
Transworld Investment Corp (13) 2-424711-2
Tremont Corp (13)
0-1695-2
Tucson Cas & Electric Co. (3)
1-5924-2
TWinDisc Inc. (10)
0-1767-2
UBFinaneia 1Corp (7)
0-5475-2
UMCInds., Inc.(13.14)
1-4202-2
uas Systems Corp (11.13)
1-6067·2
Unicorn Industries (2)
0-5885·2
Union Service Industries.
Inc.
(2,14)
0-5345-2
United Cas, Inc.(8)
1-6464-2
United Hissouri Baneshares. Inc.
(7)
0-4887-2
U.S. Industries.
Inc.<7.8.10,14)
1·3772-2
United States Sugar Corp(7.l3.14)0-162-2
United Te1ecOlllllUnicatlons. Inc.
(7.14)
1·4721·2
Univeraa1 Container Corp
1-4277-2
(7,13.14)
Pase 4
SECNEWS
DICEST.April 23. 1973
8I REPORTS
FORMARCH
1973 CONT'D
Universal Instruments Corp
(11.13)
Utah Power & Light Co.(7)
Varifab. Inc.(10.14)
Varo. Inc. (3.9)
Venus Drug Distributors Inc.
(13.14)
Viacom InternatiQlal
Inc.(3)
WHDH
Corp (13)
Sam P. Wallace Co., Inc.(11)
Warnaco. Inc. (7.14)
Washington Bancshares. Inc.
( 11.12.14)
Washington Natural Gas Co.
(3.13)
Washington Trust Co. (7.13)
J. Weingarten. Inc.(4.7)
Weiss Pollution Control Corp
(4,11,13.14)
2-44929-2
1-3568-2
0-4634-2
1-5381-2
0-2174-2
1-6514-2
0-642-2
0-3435-2
1-4718-2
0-1328-2
0-951-2
0-5463-2
0-2279-2
Wells. Rich. Greene Inc.(3)
West Texas Utilities
Co. (11)
Westchester Corp (7.14)
Western Harness Racing Inc.
(8,13.14)
Western Nassachusetts Electric
Co. 01.14)
Wheeling Pittsburgh Steel Corp
(3)
White Consolidated Industries
Inc. (7)
Whittaker Corp (3.13)
WinslowTechnology Inc.(13)
Wisconsin Telephone Co. (11)
Xenics. Inc. (7)
Zapata Corp (11.13)
1-6296-2
0-340-2
0-5682-2
0-1429-2
2-11114-2
1-2394-2
1-826-2
1-5407-2
1-6254-2
1-6589-2
1-7114-2
1-4219-2
0-6055-2
SECURITIES
ACTREGISTRATIONS.
Effective April 19: Cordura Corporation, 2-46983. Effective April 20: '"
Bell Telephone Co. of Pennsylvania. 2-47461 and 2-47460; BrownCompany.2-47316; Corn Brothers. Inc..
/
2-45528 (July 19); Equitable Life Assurance Society of the U.S•• 2-47300; Gillette Co•• 2-47608; &excel
Corp. 2-47323 (40 days); Houston Lighting & Power Co•• 2-47449; Inexco Oil Co•• 2-47341; Pol"..r Research
Corp. of America. 2-46426 (90 dsys); Pope & Talbot. Inc •• 2-47363; Sundial Associates. 2-45433.
NOTETODEALERS.The period of time dealers are required
in shown in parentheses after the name of the issuer.
to use the prospectus in trading
transactions
---0000000--
Copies of registration statements may be ordered from the Commission's Public Reference Section. All other referenced
material is available in the issue of the SEC Docket indicated in parentheses below the News Digest Issue No. Both the
News Digest ($33.00 a year, first class mail; $8.25 additional for foreign mailing; $25.00 additional for air mail) and the
SEC Docket ($17.00 a year, first class mail; $4.25 additional for foreign mailing) are for sale by the Superintendent of
Documents, Government Printing Office, Washington, D. C. 20402.
Source Exif Data:
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