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
I
of the short-term borrowings incurred to finance Hartford's construetionprogr... (llel. 35-17934)
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
SAVIlGS
BAlIt
DlVESTIIIII'l' 'lbe SIC baa ieaued a notice giving intereated peraona until
May
PUIID.
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 COMPAIIY.
'lbe SIC haa ie8Ued an order permittingDlVES'lHENT 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-Exempt
Bond
Pund, California Seriel I (Fund), a unit inveatment truat regiatered under
the Act. and ita a
pons
or , Blyth EaabUn Dillon
&
Co.,
Incorporated (Sponaor), permitting the Fund (and all
aubaequent national or atate aeriea of the aameor 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
1.
Cbanges in Control of Registrant. Item
9.
Options to Purchase Securities.
Item
2.
Acqusition or Diaposition of Assets. Item 10. Revaluation of Assets or
Item
3.
Legal
Proceedings. Restatement of Capital Share ...ccount.
Item
4.
Changes in Securities. Item
11.
Submission of Matters to a Vote of Security Holders.
Item
S.
Changes in Security for Registered Securities.
Item
12. Changes in Registrant's Certifying Accountant.
Item
6.
Defaults upon Senior Securities. Item
13.
Other Materially lmportant Events.
Item
7. Increase in Amountof Securities Outstanding. Item 14. Financial Statements and Exhibits.
Item
8.
Decrease in Amountof Securities Outstanding.
Copies of the reports may
be
purchased fromthe Commission's Public Reference Section (in
ordering, please giue month
and
year 0( report).
Invoice will be included with the requested material when mailed.
SICIEPORTSPOll
HARCH
1973
Rational Car lenta1 Syat. Inc. Ohio-Seely Mattresa
Hfa
Co.
(3.14) ~3473-2 ( 11,14) 1-6878-2
National Mortgage
Pund
(8)
~3934-2 011 Resources Inc. (11) ~S417-2
National Starch
&
Chemical Old Equity Financla1 Corp
Corp (4,7,14) IM3S8~2 (1,11,14) 0-4552-2
National Systems Corp (14) 1-6981-2 Oregon Metallurgical Corp
Hatural lleaourcea
Pund.
Inc. <7,11) ~1339-2
<3,13) ~3347~2 Ozlte Corporation (4.14) ~2138-2
Rev .Jersey Ilatura1 Gu Co. Pacific Asbestos Corp (6) ~1144-2
(13.14) 0-93-2 Pacific Tel
6.
Tel Co. (11.14) 1-1414-2
The NewYorker Magazine Inc. Package Machinery Company(7)
~5n-2
(11,13,14) 0-451·2 Pan American Bancsharea Inc.
Newport Controls Corp (8) ~6642-2 (9,14) ~4845-2
Rorris Oil Co. <7,14) 1-3623-2 Pato Consolidated Gold Dredging
North Shore Gas Co. (13) 2-35965-2 Ltd. (13) 1-4295-2
Northern Indlana Public Service ~ennsy1vania Co. (8) 1-4954-1
Co. <3.7) 1-4125-2 Pennsylvania Electric Co.
Rortruat Corp (11.14) ~5965-2 01,14) 1-3522-2
Korthwenem rl~nce Co. (4,7> ~1997-2 Peoples Gas Light & Coke Co.
Korveaco. Inc. (11)
~24S8-2
(13) ~26983-2
OakmontCo~ <7,13)
~39S8-2
Perkin-Elmer Corp (13.14) 1-4389-2
Oc .... oszapby
tlad.culture lnduatriea Peterson, Bowell
&
Beether Inc.
(7,8,12,14) ~5728-2 (8) ~1631-2
SECMEWSDlGBST,April 23, 1973
P.ge 3
III REPORTS
FOR
MARCH
1973 CONT'D
Petro-Lewi. Fund. 10c. The Soundscriber Corp (8) 0-2286.2
(13) 2-41365-2 Speed Equipment Worlds of America.
Inc.
(11)
2-42862-2
Pioneer Natural Ga. Co. (7.8) l-59i7-2 Spiral Heta1 Company,Inc.
Ponderosa International, Inc. (4.13,14) 0-3367.2
(7) 0-6445-2 Springfield Gas Light Co.(ll) 0-721-2
Ponderosa System. 1nc.(9.13.14) 1-6707·2 Springs Hills. Inc.(2,14) 1-5315-2
rope
&
Talbot. Inc.(8) 1-7084-2 Square Industries. Inc.(9,11,14) 0-4979-2
Preferred Risk Life Ins. Co.
(7.11.14) 2-22520-2 Standard Brands Inc.(13) 1-1186-2
Prelude Corp (13) 0-5080-2 Star Realty
Fund -
1972
(2)
2-43214-2
State Bond& Mortagge Co.{ll) 811-407-2
Process Systems. loc.(7.9.13.14) 0-6050-2 State EXploration Co.(ll,13) 0-2398-2
Procter
&
Ga~b1e International Sterchi Bros. Stores Inc.(14) 1-2504-2
Co.
(8)
1-5489-2 Sterling CommunicationsInc.
Progressive Industries Corp (7.13) 0-3865·2
(7.14) 0-3453-2 Sterling Computer Systems Inc.
Prudent Real Estate Trust
(3)
0-5067-2
(1.2.7.14) 1-5536-2 Storage Technology Corp(13,14) 0-6283·2
Public Service Co. of Oklahoma Stratoflex Inc.(8) 0-2750-2
(7)
0-343-2 Suburban Propane Gas Corp(7,14) 1-4401-2
Publishers Co•• Inc.(13.14) 0-1359-2 SummersElectric Co. (2,14) 0-3034-2
Py~ld Oil Company(12.14) 0-5525-2 Super Va1u Stores. Inc.
QUorumIndustries In,.(7.14) 0-6166-2 (4,7,8,14)
Rahall COlllDlUlicationsCorp( 13) 0-5609-2 SUperior Mfg
&
lnstt:'l.llllentCorp 1-5418-2
Ransburg Corp (3) 1.6870-2 (13) 0-2957.2
RedwoodBancorp (3.11.14) 0-6501-2 The Superior Oil Co. (13) 1-4744-2
Robert Reis
&
Co (6) 0-2175-2 Systematics General Corp(l3.14) 0-5536-2
Rentex Services Corp (7.14) 0-3477-2 Taylor International Corp (10) 0-2126-2
RepUblic Franklin Inc.(7) 0-4771-2
Responsive Environments Corp Technology Inc. (3) 0-2901-2
(2.6.13) 0-3103-2 TechnomicResearch Aasoclatea,
Retention Communications Systems Inc. (13) 0-5821-2
Inc.
(11)
2-34009-2 Teeg Research, 1nc.(6) 0-3925-2
Reuter Inc.(9.13.14) 0-1561-2 Telco Marketing Services. Inc.
Ilichardson-.1errell. Inc.(3) 1-1029-2
(8)
2-41908-2
Ilicoh Ti~e Corp (3) 2-42460-2 Telecom Corp <2.14) 0-4202-2
Robinex International Ltd., Inc. Te1ecredit, Inc.(3.13) 0-3934-2
(2)
2-29880-2 Teledyne, Inc.(11) 1-5212-2
Ros81llOOr 1-6823-2 Telephone
&
Data Systems Inc.
Corp
(3)
The Rouse Company<7.10.13) 0-1743-2
(7)
RowlandProducts, Inc.(2,8.14) 1-4402-2 Tennessee Valley Bancorp. Inc.
Royal CrownCola Co.(U.14) 1-227-2
(7)
0-6368-2
Ryan Homes, Inc.(8) 1-6565-2 Termna1 Equipment Corp (7.14) 0-4354-2
Ryder System. Inc.(7.14) 1-4364-2 Texaco Inc. (7.14) 1-27-2
Ryerson
&
Haynes Inc.(7.14) 1-6260-2 Toledo Edison Company(3,7) 1-3583-2
Safeguard Indusdries. Inc.(13,14) 1-5620-2 Tool Research
&
Engineering
St. Joseph Light
&
Power Co. Corp (7) 1-5308-2
(4.7.14) 1-3576-2 Torgino1 Industries. Inc.(3.13) 0-1977-2
Salaot Corp (7.8) 1-6666-2 Torin Corp (11.14) 1-5934-2
Sargent-We1cb Scientific Co.(S) 1-4711-2 Trans-lndusdries. Inc.(3) 0-4539-2
Transocean Oil, Inc.(10) 0-3913-2
Scan-Dete Corporation( 10.13.14) 0-3077-2 Transworld Investment Corp (13) 2-424711-2
F.M. Schaefer Corp (13) 1-5853-2 Tremont Corp (13) 0-1695-2
Earl Scheib Inc. (2,14) 1-4822-2 Tucson Cas
&
Electric Co. (3) 1-5924-2
Scberr-Tum1co Inc.(6,7.9.14) 0-2366-2 TWinDisc Inc. (10) 0-1767-2
Jos. Scblitz Brewing Co. (10) 1-5431-2 UBFinaneia
1
Corp
(7)
0-5475-2
Science ManagementCorp (13) 1.6059-2 UMCInds., Inc.(13.14) 1-4202-2
Scot's Inn HanagementCo.(13) 0-3174-2
uas
Systems Corp (11.13) 1-6067·2
Scott
&
Fetzer Co. (11.14) 1-5629-2 Unicorn Industries (2) 0-5885·2
Seaboard Cout Line Rl
Co.
Union Service Industries. Inc.
n
,14) 1-3359-2 (2,14) 0-5345-2
G.D. Searle
&
Co. (13) 1-4841-2 United Cas, Inc.(8) 1-6464-2
Season-All Industriea(8,13.14) 1-4706-2 United Hissouri Baneshares. Inc.
Seatrain Lines. Inc.(3) 1·5957-2 (7) 0-4887-2
Seligman
&
Latz Inc.(ll) 1-4437-2 U.S. Industries. Inc.<7.8.10,14) 1·3772-2
Shakespeare Co. (13) 1-6851-2 United States Sugar Corp(7.l3.14)0-162-2
SherwoodDiversified Servicea. United Te1ecOlllllUnicatlons.Inc.
Inc.
(3)
0-5038-2 (7.14) 1·4721·2
Signode Corp (7) 1-1262-2 Univeraa1 Container Corp
Simon
&
Scbuater Inc.(13) 0;0389·2 (7,13.14) 1-4277-2
SECNEWSDICEST.April 23. 1973 Pase 4
8I REPORTSFORMARCH1973 CONT'D
Universal Instruments Corp Wells. Rich. Greene Inc.(3) 1-6296-2
(11.13) 2-44929-2 West Texas Utilities Co. (11) 0-340-2
Utah Power & Light Co.(7) 1-3568-2 Westchester Corp (7.14) 0-5682-2
Varifab. Inc.(10.14) 0-4634-2 Western Harness Racing Inc.
Varo. Inc. (3.9) 1-5381-2 (8,13.14) 0-1429-2
Venus Drug Distributors Inc. Western Nassachusetts Electric
(13.14) 0-2174-2 Co. 01.14) 2-11114-2
ViacomInternatiQlal Inc.(3) 1-6514-2 Wheeling Pittsburgh Steel Corp
Corp (13) 1-2394-2
WHDH
0-642-2
(3)
Sam
P. Wallace Co., Inc.(11) 0-3435-2 White Consolidated Industries
Warnaco. Inc. (7.14) 1-4718-2 Inc.
(7)
1-826-2
Washington Bancshares. Inc. Whittaker Corp (3.13) 1-5407-2
( 11.12.14)
0-1328-2
WinslowTechnology Inc.(13) 1-6254-2
Washington Natural Gas Co. Wisconsin Telephone Co. (11) 1-6589-2
(3.13)
0-951-2
Xenics. Inc. (7) 1-7114-2
Washington Trust Co. (7.13)
0-5463-2
Zapata Corp (11.13) 1-4219-2
J.
Weingarten. Inc.(4.7) 0-2279-2
Weiss Pollution Control Corp
(4,11,13.14) 0-6055-2
SECURITIESACTREGISTRATIONS. April 19: Cordura Corporation, 2-46983. Effective April 20:Effective '"
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 to use the prospectus in trading transactions
in shown in parentheses after the name of the issuer.
---0000000---
Copies of registration statements may be ordered fromthe 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, GovernmentPrinting Office, Washington, D. C. 20402.
